Real Estate News
Updated: Mar 18
Real estate cannot be lost or stolen, nor can it be carried away.
Purchased with common sense, paid for in full,
and managed with reasonable care, it is about
the safest investment in the world.
- Franklin D. Roosevelt
Happy St. Patrick’s Day all! Here is to what bodes to be a great Spring, just around the corner.
I hope you, your family and friends are all healthy and safe during these uncertain and unprecedented times.
Spring is usually a time when the Real Estate Market picks up for buyers and sellers alike.
This has traditionally been true and will almost certainly be the case in 2021 with interest rates are at an all time low. Even with the lockdowns and global pandemic, the detached market has increased in quantity of completed transactions with multiple offers on pretty much every new listing.
The Real Estate Board of Greater Vancouver reports home sales in the region doubled between January and February and have climbed by more than 70 per cent since last year.
As an example according to the Fraser Valley Real Estate Board, single family home prices were up by 19.9 per cent.
It has been proven in the past that once detached homes rise in value, townhomes follow and eventually condos rise too.
When it comes to selling your home, one generally hopes for a quick sale.
It is always frustrating to deal with months of open houses and showings, offers that are retracted or subjects that seem impossible to satisfy.
If selling, here are a few pointers to consider making your home more appealing and perhaps shorten the time spent on the market.
a). Do a very thorough cleaning, including all the corners, windows etc. An unclean home does put buyers off. I've seen this time and time again.
b). Declutter, although you may love your “stuff”, a home full of your favourite items may appear smaller than it actually is. Objects close in a space, visually. Just removing some pieces of furniture can really open up a space.
c). Make it less personal, just by removing keepsakes, personal photographs, fridge magnets, etc. makes the home feel less personal and the prospective buyer can then “see” themselves living there.
d). Paint, if at all possible. A fresh coat of paint in neutral colours again allows the buyer to put their own stamp on the home visually.
There are of course other pointers that I can certainly share with you from my experience. I hope the tidbits a) through d) above help. As always, call, text or email me for an in-person consultation. Whether you're buying or selling, I'd like to help you.
And now, since we could all use laugh in these times, here's my take on the ubiquitous password, as expressed by comedian Michale McIntyre in his Netflix special.
sutton group - west coast realty