April 18, 2018

Is Now the Time to Sell?

Is now a good time to sell? It depends on a few things, which we’ll cover today.

 

Today I’m here to answer the question, “Is it a good time to sell?”


The answer to this question depends on a few different factors. The first one is why you’re thinking of selling. Do you need more space for your growing family? In that case, you’re probably going to move regardless of where the market’s at.

 

The second factor is the market itself. Is it a buyer’s market, seller’s market, or a balanced market? To find out, we look at the sales ratio. It’s the number of sales divided by the number of active listings in the given month. Let’s say there were 100 active listings and 20 listings sell. That’s a sales ratio of 20%.  Any sales ratio below 15% is a buyer’s market, 15% to 21% is a balanced market, and 21% and above indicates a seller’s market.

 

I hope this gives you a better idea of what the market is and how it works.

 

I hope this gives you a better idea of what the market is and how it works. If you have any questions or you're just curious about the value of your home, don’t hesitate to reach out and give me a call or send me an email. I look forward to hearing from you soon.

 

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Posted in Home Seller Tips
April 5, 2018

Signs That You’re in a Seller’s Market

How can you tell if you’re in a seller’s market? Here’s a quick explanation.

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Here’s a question I’ve been hearing a lot lately: “What is a seller’s market?” I’m here today to answer that question.

A seller’s market occurs when there's an abundance of buyers and a lack of listing inventory. This puts a lot of pressure on buyers to compete for each listing, which causes prices to increase and multiple offer situations to occur.

"A seller’s market puts a lot of pressure on buyers."

You’ll see buyers make offers over list price and without contingencies. As the bidding war continues, prices will continue to go up.

If you have any questions about what the market looks like where you live, don’t hesitate to reach out and give us a call or send us an email. We would be glad to help.

 

Posted in Videos
March 19, 2018

What Does a Buyer’s Market Look Like?

What does a buyer’s market look like? We’ll explain today.

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What is a buyer’s market? A buyer’s market occurs when we have an abundance of listings and a lack of buyers. In a buyer’s market, there is pressure on prices to stagnate or decrease.

Why would home prices go down in a buyer’s market? Since there are so many homes for sale and not many buyers in the market, sellers are competing to get buyers to purchase their homes. As a result, buyers have the advantage in this market.

"Buyers have the advantage in this kind of market."

If you have any other real estate questions, please don’t hesitate to reach out to me. We would be happy to help you!

Posted in Videos
March 6, 2018

How to Tell if We’re in a Buyer’s or Seller’s Market

There’s an easy way to tell if you’re in a buyer’s or seller’s market. Here it is.

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How can you tell whether you’re in a buyer’s or seller’s market? It’s actually pretty simple.

It’s a data point or a metric called “sales ratio.” This is determined by taking the number of total sales divided by the number of active listings in a given month. For example, 100 active listings and 20 sales in a month will give you a 20% sales ratio.

Any sales ratio below 15% is a buyer’s market, anything between 15% and 21% is a balanced market, and anything above 21% is a seller’s market.

In my next post, I’ll tell you exactly what a buyer’s market is. If you have any questions in the meantime about what kind of market you’re in right now or anything else relating to real estate, give me a call or send me an email. I would be happy to help you.

Posted in Videos
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.

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Does it make 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.

 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.

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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.

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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