Monday, November 3, 2014

What are "Normal" interest rates

This is an interesting short historical look at interest rate general trends..
I think it's important to remember our rates will tend to follow the US which predicts their first rate hike in over 5 years mid 2015.

Monday, October 20, 2014

Foreclosure Oppurtunity- 3 Bedroom Condo Only 199,000

3 Bedroom Condo in North Burnaby foreclosure sale.  Needs some work but rentals are allowed and its an amazing price-  199,000 Perfect for an investor or someone to fix up and live in.

Court Date has been set so contact us asap for more details.

Wednesday, October 15, 2014

Big Changes that will affect Condo and Townhouse Owners

Changes to Strata Property Act- majority(not 3/4) vote can approve depreciation report recommended work and strata can apply for court approval for special levies...   Good News for Owners that are frustrated by neighbors that don't want to do repairs or maintenance.

Thursday, October 2, 2014

September Stats show strong sales for Detached...

I think these comments hit the nail on the head:

“Gains in home values are being led by the detached home market. Condominium and townhome
properties are not experiencing the same pressure on prices at the moment,” Harris said.
“Individual trends can vary depending on different factors in different areas, so it’s important to
do your homework and work with your REALTOR® when you’re looking to determine the
market value of a home.”

I've told clients many times recently the market has become a little tricky-  meaning exactly what Harris said-  there are many sub-markets and areas that are diverging from the overall trend.

Sunday, September 21, 2014

Housing Market Measured in Supply and Demand Terms

I'm constantly speaking to clients about the housing market in terms of suppy and demand which is often reported as Listed vs Sold...   This info is easily obtained at the link provided below.

Note how supply (listed) has dwindled August 2014 compared to August 2013.   Meanwhile demand (solds or buyers) have remained fairly stable.   This has resulted in a market that feels much hotter or a sellers market.  I do point out however that many sellers from last year just gave up last fall so there may be some shadow inventory out there that comes back as they hear the market has picked up.

Saturday, September 20, 2014

Detached Housing Market Still Super Hot
Just listed and sold after the 1st open house with Multiple Offers.  Great yard and very good condition but only 3 bedrooms total and no suite.

Near Burnaby Hospital,  it's a Fantastic time to Sell older homes in Burnaby.