This may be a good time for you to learn more about the real estate housing market. While more people are steering towards attached homes, you might be able to sneak into the detached housing market.
General info about the market
When Buyers have less choice due to a lack of supply in homes currently listed for sale they are typically competing with many Buyers which creates fierce demand for homes. As a result Properties in the market will sell fast and the market value will be pushed up resulting in a Sellers market. Alternatively a market with Above average Supply will give Buyers choice and lends buyers an opportunity to negotiate and develop a Buyers Market.
Attached Housing Market
There was a steady increase in demand in November for real estate in Metro Vancouver. This is very true for the attached homes market. Condos are especially hot at the moment with townhouses almost as popular. It seems like people in Metro Vancouver are racing to get into this market.
Detached Housing Market
The detached homes market has been quite steady recently. Prices are becoming more affordable and supply is currently higher than demand. So if you are able to afford it, you should consider taking advantage of this opportunity.
In November 2017, the region totalled 2,795 residential home sales. This is a 26.2 per cent increase from November 2016, which totalled 2,214 home sales. Last month’s sales were 17 per cent above the 10-year November sales average.
Jill Oudil, president of REBGV, stated that while there are more listings entering today’s market than last year, the home listing inventory has a long way to go before it rises to more typical levels.
Sales-to-active listings ratio
The sales-to-active listings ratio for November 2017 reached 32 per cent. This is three per cent higher since September 2017.
By property type, the ratio is:
- 15.9 per cent for detached homes (+1 per cent since sept 2017)
- 36.4 per cent for townhomes (-6 per cent since Sept 2017)
- 67.8 per cent for condominiums (+7 per cent since Sept 2017)
Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period. While home prices often experience upward pressure when it surpasses 20 percent over several months. – REBGV
What does this mean for Vancouver real estate?
If you own a townhouse or condo with equity, that may be enough for you to make the jump into the detached housing market. The detached market may present a better opportunity as buyers will be able to negotiate with sellers without too much competition.
Talk to one of our agents to learn about how you might be able to take advantage of the market. Call us at 604-936-1111 or email us at firstname.lastname@example.org.
Also, check out our active listings for detached homes we currently have available.
From the first step into the myriad of lights decorating the path around Lafarge Lake, you will instantly feel as if you walked into Christmas town. The lights at Lafarge Lake are an annual display set up around the holiday season. Seeing the amazing light display can easily turn into an annual tradition for you and your family.
As the largest light display in the Lower Mainland, it features hundreds of thousands of bright lights. The twinkling glow helps guide you around the lake. The beautiful lights provide a warm glow in the winter night.
Community made light display
The members of the Coquitlam community made most of the lights using recycled materials. Can you believe that they used pop bottles and milk jugs? If you’re interested in taking part in the making of the lights, community members can drop in at light-making workshops hosted by Coquitlam’s Park Spark team.
In need of refreshments?
The city set up a concession stand this year to keep you fueled and energized on your walk. Make sure you get a snack or a hot beverage so you can stay warm on your cozy walk in the chilly outdoors. You can easily find the concession stand located near Town Centre Park Plaza. It will open from Wednesdays to Sundays, 4:30 to 9 PM.
How do you get there?
If you’re driving, there’s plenty of parking space available in Lot D off of Trevor Wingrove Way. And if you take transit, it’s only a short walk away from the Lafarge Lake-Douglas SkyTrain station.
When to see the lights?
The light display will be up all the way until January 21, 2018. So you have plenty of time to a look at this gorgeous display. If you see anyone from Team Leo along the path when you visit, be sure to say hi and take a selfie with them.
Many people and other realtors will tell you that you shouldn’t sell during the holidays. It’s a busy season, there’s a lot to plan for. With Christmas on the way, no one has time for it. And while it may be true that there’s a lot going on, we say DO IT!
You yourself might also be busy with preparing for Santa’s arrival or other holiday traditions. But trust US, this is the perfect time to sell your home and here’s a list of reasons why.
1. Less competition
A lot of people will take their houses off the market in December, or will choose to delay putting their house up for sale till the new year. They do this for 2 reasons. Homeowners find themselves too busy with the holiday season and they also think buyers will be too busy to be looking at homes. However, there will always be buyers needing to purchase a home and you can be guaranteed there will be buyers out there around Christmas and they will be serious buyers who have to purchase. Buyers want a home and what better Christmas present is there than getting a home of your own. With less homes on the market during Christmas, it means that your home could be ripe for the picking.
2. Serious buyers
Buyers at Christmas time are serious. It’s a testament to how serious they are if they haven’t put their home search on hold for the holidays. You will find people who are genuinely interested in your home. A lot of buyers during this time need to move. Whether they have already sold their home or have to relocate by the end of the year. Usually they are looking to find a place ASAP.
3. Serious agents
Our agents will help you sell your home even throughout the holidays. Many real estate agents take time off to visit with family during the holidays, but we put clients and the community first. If you want to sell during the holidays, we can help set up the best strategy for you. We can even help with Christmas decorating* for seasonal home staging to make your house feel festive and homey. We’ll hang just the right amount of garland and set up the perfect tree that’ll have visitors feel Christmas magic from your home. Get in touch with us if you or someone you know plans on buying or selling a home. Call us at 604-936-1111 or email at email@example.com.
Home staging is very important when it comes to trying to sell a house. An empty house might appear cold, lonely and barren. But adding a little something to fill it up could give just enough warmth to the space.
When you move, you take your things with you and that sometimes leaves your house empty and barren. This is not the kind of environment you want when you host home showings. You want people to see a vibrant and cozy home where they can feel comfortable and can picture themselves living in the space.
When a room is empty, it’s hard to imagine what it would look like when it’s filled. Even just the basic of furniture can add vibrancy to a room. Just adding a little bit of wall art makes a huge difference. The other day, Team Leo worked together to get furniture into Willingdon Avenue. Come see the home yourself to see how this condo was given a cozy vibe.
Going the distance
We will always go the extra mile, squeeze furniture through all doorways, and crawl through any corridor in order to make sure your home looks its best. We will do anything to make sure your home feels like a home. Get in touch with us to learn how we can add more value to your home at (604) 936-1111 or email at firstname.lastname@example.org.
It’s the spookiest time of the year and it’s time for some Halloween fun. Get ready to tell a scary story or visit a haunted house.
Are you brave enough to visit a haunted house?
443 Draycott Street, Coquitlam V3K 5K1
For a number of years now, the family at 443 Draycott Street in Coquitlam have bravely set up spooky Halloween displays in and around their own house. The family puts together a Haunted house for everyone from small children to adults to enjoy. The event, while gives some freaky entertainment to the community, is also a fundraiser for the Children’s Charity, Variety.
What does it cost?
The spooky display opens on October 20, 2017 and goes from 6:30 to 9:00 PM and is wheelchair accessible. And the cost to enter is a donation of whatever you can afford. All funding from this event goes to Variety to support children with a disability.
What will you see?
The house features a ton of great Halloween displays. Make sure you don’t get caught in any giant spider webs, or run into any ghosts or ghouls. With creepy music playing eerily in the background and pumpkins, lights and lasers in every corner, you will definitely get a shiver down your spine. If you weren’t in a spooky Halloween mood, this family-fun event will certainly get you ready to face the spookiest night of the year.
What is Variety?
Variety is a children’s charity that steps in where health care ends. Their mission is to provide direct help to children with special needs so they can have the same opportunities as everyone. Variety reaches out to children in B.C. and the Yukon and is dedicated to ensure that all children are able to reach their potential.
Every child deserves a chance to live without being held back. Variety helps children get what they need in order to reach their unique potential.
This charity has been around for over 50 years, helping families with children who have disabilities. So make sure to stop on by 443 Draycott Street if you’re feeling brave to support this local charity.
Come check out our open house this Saturday and Sunday at 617 Schoolhouse Street.
Date: Saturday, September 16, 2017 & Sunday, September 17, 2017
Address: 617 Schoolhouse Street, Coquitlam V3J 5P6
Time: 2:00 pm – 4:00 pm
This beautiful home is located in central Coquitlam with Poirier Rec Center and Como Lake Park both within walking distance. The rooms in this home are spacious and have large windows to provide plenty of natural light. The house went through a full renovation and in every room you can see the care the owner’s had for their home.
The house has 3 bedrooms (2 upstairs and 1 on the lower level), 3 bathrooms (2 full and 1 half), and a large rec room. The home also has a gorgeous kitchen with a large central island with an apron sink and bar seating.
Come see everything this home has to offer this Saturday, September 16, 2017 and Sunday, September 17, 2017 from 2:00PM to 4:00PM.
For more details about this home, check out the listing here.
Feel free to call us at 604-936-1111 or email us at email@example.com for any questions or inquiries.
We hope to see you at the open house!
The game Monopoly might be a surprisingly good training ground to prepare you for buying real estate, and playing Monopoly with your kids could be a great teachable moment. Take the time during the game to throw in some real world pointers, and you might find yourself learning along the way.
Your family has decided to play Monopoly. grab a snack and a drink because the game, just like real life, is going to take a while. :)
LESSON: Buying real estate is a process. Getting pre-approval for a loan, finding an agent that’s the right fit for you, searching for homes, submitting an offer, maybe submitting another offer, the home inspection, property paperwork to go over, and getting final approval for your mortgage before you get the keys. Conclusion: buying a home can take some time, focus on all of the great reasons you decided to buy a home. Staying in close communication with your agent throughout the process will help, too.
2. Neighbourhood matters
Everyone starts the game with one corner in mind: Boardwalk and Park Place. The highly priced properties have the best returns on investments, and the players who snag them first tend to do well in the game.
LESSON: Location is often a major consideration in real life as well. Home values, your lifestyle and so much more are factors in your neighbourhood choice. Work with your agent to learn all you can about the neighbourhoods that pique your interest.
3. Keep an open mind
Baltic and Mediterranean Avenue have a bad reputation because they’re the cheapest properties on the board, but they are also opportunities. Add a few houses and hotels and your return could be bigger than the one on nearby Connecticut Avenue.
LESSON: Keep an open mind when shopping for a home. An up-and-coming neighbourhood may have appeal you didn’t see before, and more value for your budget.
4. Be prepared
You’re a Monopoly mogul! You have a handful of desirable properties and a steady stream of income from your houses and hotels. Then comes the Chance card: “Make general repairs on your property – for each house pay $25, for each hotel pay $100.”
LESSON: You never know what card you’re going to draw. But unlike Monopoly, the real world has home insurance available to help you prepare for unexpected repairs and disasters. A variety of plans, customizable to any budget, are available.
5. How to win a bidding war
Trading properties keeps Monopoly exciting. And there are no strict rules as to how a seller determines to accept an offer. Sibling rivalry, bribes involving candy or even business sense can play into a player’s decision.
LESSON: Sellers don’t always accept the highest offer. Writing a letter about why you fell in love with their home can sometimes sway them in your favor.
6. The importance of strategy
Monopoly is a game of strategy, but few players to study ways to win. What if you had a coach sitting next to you, advising how much to bid for a property, where to look next, and whether or not mortgaging a utility to buy Boardwalk is a smart idea? You would be unstoppable!
LESSON: Buying a home is an infrequent occurrence; for some it happens only once in a lifetime. Wouldn’t it be helpful to have someone on your side who was up-to-speed on current market conditions, knew which neighbourhoods would best fit your lifestyle and ensured the contract you enter into has your best interests in mind. That’s the value an experienced agent provides.
Contact Team Leo: 604-936-1111 or firstname.lastname@example.org for all your buying and selling needs.
This year was a very busy year in real estate in the Lower Mainland. Many houses selling well above the asking price. Lot’s of buyers wanting to purchase homes, and not enough homes for everyone. Two weeks till Christmas and the buyers are still actively looking to buy. Everyone is wondering, will this continue into 2016.
RE/MAX has just released their yearly Housing Market Outlook. Below is a link to the report, have a quick read and see what they are predicting for next year: greater demand and less supply will continue to put upward pressure on detached house prices.
It’s a great time to be a seller! Give us a call at 604-936-1111 or email us at email@example.com.
Below is a photo tour of some samples of what $300,000 will get you in the U.S., the U.K. plus a few other countries. While Londoners can expect to get a small apartment for their £200,000, away from the capital, the same money would buy a whole street’s worth of homes. I also checked into China, but as you’d expect, the range is similar to that found elsewhere, from city-center hovels to cheap country homes to farmhouses.
Other non-surprises were the tiny apartments in Hong Kong and Japan, where your $300,000 gets you little more than a walk-in closet, and the difference between the capitals of Germany and Greece. In Berlin (not the richest city in Germany by any means), you can get a tiny two-bed apartment in the chaotic Kreuzberg neighborhood. In Athens, you can take your pick of huge apartments or maisonettes, and have plenty of money left over to donate to the poverty-stricken European Central Bank.
Compton, LA: For three bedrooms at $300,000 the realtor doesn’t even get out of the car to snap the photo.
West Hollywood: You can get a 304-square-foot studio with no parking and no kitchen, “which means you can’t have a car because there is literally nowhere to park in WeHo, and HOA fees are $630/month,” says Reddit user seriallysurreal.
Good luck getting anything in San Francisco. You can’t even find a parking garage for $300,000. One solitary spot appears on the real estate site Zillow’s map when you narrow the search to the $250-300,000 range, and that’s a 1,520-square-foot patch of grass at 3579 Folsom Street.
In Las Vegas, you can get a “decent sized house,” according to Redditor originalsinner702, who even posted photos of their own $100,000 home. A Zillow search shows up lots of big properties, and you can get a massive five-bedroom home like this 2,100-square-foot home for $275,000. Lots of space in the desert we guess.
Meanwhile, over in Detroit, you can pick up this beautiful (and palatial) 1912 townhouse for $320,000, with five bedrooms and three and a half bathrooms.
Manhattan is even worse than San Francisco. Your $300,000 won’t get you your own place, but you could live in this two-bedroom Fifth Ave condo for four weeks of the year. You get all of week 36 (early September) to yourself, plus the rest of your allotted 28 days dotted around the year. Don’t like the Donald Trump-style decor? Tough, because you’re sharing the place.
In London, the local equivalent of $300,000 is £192,000, and it’ll get you a sweet lockup garage. Like the San Francisco plot, though, this one’s value is in the land underneath the building, and the site comes with a planning application for a three-floor house. Oh, and calling this “London” is technically accurate, but something of a stretch.
Up north, in Middlesborough, you could buy a whole street of houses. This single three-bedroom terraced (multi-floor homes, joined together in a row) house costs £20,000, which means you could get 9-10 of them for the same price as that London car parking spot. According to the Independent, Middlesborough is the cheapest place to buy a home in the U.K.
In the center of Berlin, €180,000 will buy you a tiny 620-square-foot apartment in Kreuzberg. Meanwhile, down in the capital of Germany’s arch enemy Greece, it’s hard to spend all that money. For instance, how about this 1,300-square-foot apartment with two living rooms, two kitchens, three bedrooms, and two bathrooms for just €150,000, or $160,000?
In Tunisia, $300,000 translates to 585,000 Tunisian Dinar. Outside of town, that’ll land you a 2,400-square-foot home on three acres of land, complete with peach, olive, almond, and fig trees. Back in the city, you can pick up this 1,400-square-foot house for just TND150,000, which is only $77,000.
In Iceland, where everything else is notoriously expensive, the property prices are pretty reasonable. This lovely house costs 39,800,000 Iceland Krona, which is pretty much dead on our $300,000 budget. You get 3,000 square feet of living space, with three bedrooms and one bathroom, perfect when you’ll be spending the long, cold winters inside.
Reddit user Parramatta says that, if you don’t mind living in “a very remote part of the city,” then you can get this tiny 320-square-foot apartment for HKD 2.38 million. That’s over our $300,000 target, but not by much.
Reddit user Cluelessknowitall says that in the Dominican Republic, $300,000 will buy you a “4-5 bedroom, less than 10 years old, big yard with a pool probably 5 or so min from the ocean.” I checked, and found this lovely place, for USD $240,000, 1,600 square feet, with two beds and two baths, marble floors, and a gym, right next to the ocean.
What’s the lesson in all this? Next time you’re complaining about high housing prices where you live, remember the old adage is true: location, location, location.