Feb. 14, 2018

Should You Rent or Should You Buy a Home?

Deciding whether to rent or buy depends on several factors, but if you buy, you’ll receive a few very important benefits.

 Looking to Buy a Home? Search All Homes

Selling Your Home? Get a Home Value Report

 Does it makes more sense for you to rent or buy a home? That depends on several different factors. First, can you afford to buy? Have you figured out what the property taxes will cost? Or the maintenance fees and carry costs? If you can afford these costs, you have the option to buy. If you do buy, there are some major benefits that you won’t get with renting. 

First, you can increase your credit by buying and holding a mortgage for a period of time. The other benefit you gain is equity. Instead of paying your landlord’s mortgage, you can pay your own.

 

"Instead of paying your landlord’s mortgage, you can pay your own."

 

Then when you sell your house, you get to keep the difference between what it was worth when you bought it and what you sell it for and use that sum to invest in your next property.

If you have any questions don’t hesitate to reach out and give me a call or send me an email. I would love to hear from you.

 

Posted in Videos
Feb. 7, 2018

Is Our Real Estate Market in a Bubble?

A lot of people have been asking me lately if we are in the midst of another real estate bubble. Here are my thoughts on the matter.

 Looking to Buy a Home? Search All Homes

Selling Your Home? Get a Home Value Report

 

A lot of people have been asking me lately if the Tri-Cities real estate market is in a bubble, so I’m going to answer that question today. First, let’s talk about what a bubble is.

A real estate bubble occurs when we have a run-up of housing prices fueled by demand and speculation. At some point, demand will stagnate and supply will increase. That’s when there’s a sharp drop in prices and the bubble bursts.

Right now, we’re in a seller’s market here in the Tri-Cities. That means we have an abundance of buyers and a huge lack of inventory.

 

"The best way to protect yourself is by holding properties long-term."

 

 

So are we in a bubble? Anybody who claims to know either way is a liar. Nobody has a crystal ball that can say for certain either way. The best way to protect yourself against a potential bubble burst is by holding properties long-term. Historically, people who buy, hold, and sell after three to seven years end up doing very well for themselves.

If you have any questions about the current state of the market or how you can take advantage of it, don’t hesitate to reach out and give me a call or send me an email. I would love to hear from you.

 

Posted in Videos
Jan. 23, 2018

Multiple Offer Situations Are Tough, but You Can Win

There are three things you need to know if you want to come out on top in a multiple offer situation.

 Looking to Buy a Home? Search All Homes

Selling Your Home? Get a Home Value Report

How can you avoid losing out in a multiple offer situation? We need a few pieces of information to make sure we have the best chance. 

We need to know what kind of market it is—buyer or seller? 

How many other offers are there? That will inform how we make our offer.

What are the prices of other comparable properties?

With the answers to these three questions, we give ourselves a much better chance of winning bidding wars.  

 

"With the answers to these three questions, we give ourselves a much better chance at winning the bidding war."

 

We can also call the listing agent to find out what the best closing and possession dates are for the sellers. Once we match those dates and conditions, then we put ourselves in much better standing.

We know that each situation is going to be unique, so if you have any questions about how you can boost your standing in a multiple offer situation, reach out to us. We can help you every step of the way to make sure that you get the best possible outcome.

 

Posted in General, Videos
Aug. 4, 2017

Port Coquitlam zoning breakdown and building size allowances

For a breakdown of what each zoning designation is and what that allows you to build, go to:

https://www.portcoquitlam.ca/wp-content/uploads/2017/01/3630-Zoning-Bylaw-2008.pdf

Posted in Port Coquitlam