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Local White Rock REALTOR® Review!

Wednesday, August 17th, 2022

I am always looking for ways to improve my services and the products I offer to my clients here in White Rock. Don’t take my word for it though. Here’s what Mr. K. had to say for his REALTOR® review:
 

Local White Rock REALTOR® review

Local White Rock REALTOR® review


 
You are a beautiful person that I would hire in a minute! You have my full respect. You are very businesslike, easy going, and above all you honestly care for the people you work for or come in contact with. – Robert K.
 

WHAT DO REALTORS® DO FOR BUYERS?

1. Introduce you to excellent mortgage lenders in our area
2. Make you aware of applicable taxes and typical transaction costs
3. Offer feedback on neighbourhoods and stratas
4. Easy email -MLS® search set up
5. Book showings and tour you through applicable homes
6. Prepare your offer documents (approximately 30 pages worth)
7. Negotiate terms and price with yourself and the seller
8. Assist your review of all applicable documents regarding your due diligence
9. Hand your keys over on closing day!
 

REMEMBER, HIRING A REALTOR® AS A BUYER IS FREE

Buyer’s do not pay commissions. The seller pays the fee for your REALTOR®.
 
This structure makes these services at no cost to the buyer, their experience, education, and time comes at no cost to the buyer!
 

TO VIEW HOMES FOR SALE IN THE LOWER MAINLAND – CLICK HERE

 

TO SPEAK WITH JEANINE OSBORNE, REALTOR® – CLICK HERE

 

TO VIEW MY OTHER TESTIMONIALS – CLICK HERE

BC Homebuyer Protection Period

Wednesday, August 10th, 2022

The Government amended the Property Law Act to enable the creation of a homebuyer protection period. The Homebuyer Protection Period (HPP), aka “cooling off period,” comes into effect on January 1, 2023. Let’s take a look at what this means for homebuyers.
 

B.C. Homebuyer Protection Period

B.C. Homebuyer Protection Period


 

What is a homebuyer protection period?

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Sales Slide as the Brakes are Applied to the Housing Market!

Saturday, August 6th, 2022

The Fraser Valley housing market saw sales slide again in July in the face of continued interest rate hikes, as the government applies the brakes to the housing market and struggles to bring inflation under control.
 
In July, the Board (FVREB) processed 993 sales on MLS®. This is a decrease of -22.5% from the previous month and a -50.5% drop compared to July 2021. New listings totaled 2,385. A -28.4% decrease compared to June and a decrease of -1.9% compared to July 2021.
 

FVREB MLS Sales - August 2022

FVREB MLS Sales – August 2022


 
“It is important to keep in mind that real estate is and always will be an asset with considerable upside over the long-term. As prices come down from the highs of recent months, there are opportunities for buyers who have been waiting to shop for the right property.”
 
Active listings, at 6,413, remained relatively unchanged from June and were up 30.9 per cent over last July. This brought balance for townhomes and detached homes (sales-to-active ratios: 18% and 12%, respectively); favoured sellers slightly for apartments (28%). The market is considered balanced when the sales-to-active ratio is between 12% and 20%.
 
FVREB Benchmark Price - August 2022

FVREB Benchmark Price – August 2022


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Rising Interest Rates Push Home Sales Down Across Canada

Friday, June 24th, 2022

With rising interest rates, home sales have cooled sharply in recent months and keep pushing downwards.
 

Canadian Housing Market Snapshot June 2022

Canadian Housing Market Snapshot June 2022


 

Home Sales are Down across Canada -21.7%

Home Sales are down 21.7% across Canada with 53,720 units sold in May of 2022. Compared to 68,598 in May of 2021.
 

New Listings are Up 6.3%

New listings are up 6.3% across Canada, with 100,643 new listings added in May 2022. Compared to 94,704 in May 2021.
 

Average Price of Homes Sold is Up 3.4%

The average price of homes sold across Canada in May 2022 was $711,316 up 3.4% from $687,595 in May 2021.
 

Highlights of Real Estate Activity across British Columbia

 

Fraser Valley Housing Market Snapshot June 202

Fraser Valley Housing Market Snapshot June 202

Home Sales are Down -33.9%

Home Sales are down 33.9% across British Columbia with 8,372 units sold in Mayof 2022. Compared to 12,664 in May of 2021.
 

New Listings are Down -1.4%

New listings are down 1.4% across British Columbia, with 17,869 new listings added in May 2022. Compared to 18,126 in May 2021.
 

Average Price of Homes Sold is Up 8.1%

The average price of homes sold across British Columbia in May 2022 was $989,661 up 8.1% from $915,392 in May 2021.
 

Benchmark Price Across British Columbia

  • CHILLIWACK – $843,200
  • FRASER VALLEY – $1,167,300
  • INTERIOR BC – $733,800
  • GREATER VANCOUVER – $1,261,100
  • VANCOUVER ISLAND – $770,440
  • VICTORIA – $976,600
  •  
    MLS® Systems are co-operative marketing systems used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale.
     
    The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry associations, representing more than 150,000 REALTORS® working through 78 real estate boards and associations.
     

    TO VIEW HOMES FOR SALE IN SOUTH SURREY – WHITE ROCK AND MORE – CLICK HERE

    The Real Estate Market Keeps Getting More Balanced! :)

    Tuesday, June 14th, 2022

    Hi Friends,
     
    As property sales continue to fall in the Fraser Valley and active listings continue to grow, the real estate market is edging towards more balanced levels not seen since the pre-pandemic period.
     
    Sales of all property types in May were 1,360, down 16.9 per cent from April’s 1,637; and down 53.9 per cent compared to May of 2021.
     

    FVREB MLS Sales - June 2022

    FVREB MLS Sales – June 2022


     
    “Since March, we’ve seen sales come down with an accompanying increase in inventory, subsequently restoring much-needed balance and cooling our heated market. While still early, it suggests that as we gradually settle into a post-pandemic state of work and life, the big pandemic-era drivers – working from home and record low interest rates – may have run their course.”
     
    At the same time, active listings (the number of properties available for sale at a given moment during the month, in this case at the end of May) have more than tripled since December 2021. At the end of May, actives sat at 6,183, up 5.4 per cent year-over-year, and an increase of 14.8 per cent compared to April 2022.
     
    FVREB Benchmark Price - June 2022

    FVREB Benchmark Price – June 2022


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    HOMESELLER SERIES: HOW TO PREPARE FOR YOUR MOVE

    Tuesday, May 24th, 2022

     

    Homeseller Series - How to Prepare for Your Move

    Homeseller Series – How to Prepare for Your Move


     

    Update your mailing address.

    Fill out a change-of-address form at your local post office.
     

    Change your address with important service providers.

    Such as your bank(s), credit companies, magazine subscriptions, and others.
     

    Create a list of people who will need your new address.

    Whether you plan on sending formal change-of-address notices in the mail or just e-mailing the family members, friends, and colleagues who should be informed, a list will ensure no one gets left out.
     

    Contact utility companies.

    Make sure they’re aware of your move date, and arrange for service at your new home if the service provider will remain the same.
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    HOMESELLER SERIES: HOW TO IMPROVE THE ODDS OF AN OFFER

    Tuesday, May 24th, 2022

    So your home is super clean, you’ve signed up the best REALTOR® you know and you’re wondering what else you can do to get an offer on your table. Let’s take a quick look at some of the little details that can help you along your journey and omprove the odds of an offer.
     

    Homeseller Series - How To Improve the Odds of an Offer

    Homeseller Series – How To Improve the Odds of an Offer


     

    Price it right.

    Set a price at the lower end of your property’s realistic price range. Consider:
    Comparable properties: A “comp” is what real estate professionals call home sales that can be reasonably used to help determine the price of your home. But just because you’re in the same neighborhood doesn’t mean that the houses will sell for the same amount. Your real estate professional will help you determine how to compare your home in terms of size, upkeep, and amenities.
     
    Competition: How many other houses are for sale in your area right now? Are you competing against new homes or condos for sale in the area?
     
    Contingencies: Do you have special needs that might turn away buyers? A common one is refusing to be flexible about a moving date.
     
    Accuracy: Studies show homes priced more than 3 percent over the correct price take longer to sell.
     

    Prepare for visitors.

    Get your house market-ready at least two weeks before you begin showing it. Make all your repairs, and then do a deep clean (or hire a cleaning service to help).
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    HOMESELLER SERIES: HOW TO CLEAN WHEN YOUR HOME IS FOR SALE

    Tuesday, May 24th, 2022

    Executing a deep clean before putting your home on the market will not only help it shine, but it will make tidiness easier to maintain between showings. Here are some power-cleaning tips to use when your home is for sale.
     

    Homeseller Series - How to Clean When  Your Home is For Sale

    Homeseller Series – How to Clean When Your Home is For Sale


     

    Clean windows make a huge difference.

    Remove window screens and place them outside on a tarp or other clean, waterproof surface. Use a garden hose, an all-purpose cleaner, and a soft brush to gently clean the screens. You don’t need anything special to polish up window glass; just mix a solution of one part white vinegar to eight parts water, plus a drop or two of dishwashing liquid in a spray bottle. Wipe with newspaper to avoid streaks. (Washing on a cloudy day also reduces streaking.)
     

    The fridge is the most common source of kitchen smells.

    Check the drip tray underneath your refrigerator and wash out any standing water from defrosting. Scrub the inside of the fridge with a baking soda and water solution. Activated charcoal in the fridge can help keep odors at bay.
     

    Think outside the house.

    It’s amazing the difference a sparkling entryway makes to your home’s curb appeal. Wipe down your front door, give the doormat a good shake/vacuum, and make sure dust and dirt haven’t collected on outdoor furniture. Use a pressure washer to give your driveway and garage floor a good cleaning. The acidity in dark cola drinks can help remove oil, rust, and grease stains, along with a little elbow grease.
     
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    HOMESELLER SERIES – HOW TO PREPARE FOR THE 3D TOUR

    Tuesday, May 24th, 2022

    With the majority of buyers shopping for homes online, high-resolution slide shows and video tours are a must. Here’s how to make your home shine on camera and prepare your home for the 3D tour technician.
     

    Homeseller Series - How to Prepare for the 3D Tour

    Homeseller Series – How to Prepare for the 3D Tour


     

    Understand the camera’s perspective.

    The camera’s eye is different from the human eye. It magnifies clutter and poor furniture arrangement so that even a home that feels comfortable in person can look jumbled online.
     

    Make it spotless.

    Cameras also tend to magnify grime. Don’t forget floor coverings and walls; a spot on a rug might be overlooked during a regular home showing, but it could become a focal point online.
     

    Know what to leave.

    You want to avoid clutter, but try to have three items of varying heights on each surface. On an end table you can place a tall lamp (high), a small plant (medium), and a book (low).
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    HOMESELLER SERIES: HOW TO CALCULATE YOUR NET

    Tuesday, May 24th, 2022

    In this edition of my Homeseller Guide, we are taking a look at some of the costs that come up as a Seller. Often, there are pre-payment penalties on Fixed Rate mortgages and the additional cost can make or break a sale for some people. Let’s take a closer look at those costs and the formula for how a seller can calculate their net.
     

    Homeseller Series - Calculating Your Net

    Homeseller Series – Calculating Your Net


     

    LIST PRICE- ____________

    This is the price you list your home for sale on MLS®.
     

    SALE PRICE- ____________ MINUS

    The price your home actually sells for.
     

    STRATA DOCS- $300-$600 MINUS

    Only applicable if you own a strata property.
     
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    HOMESELLER SERIES: REVIEW THE MARKETING PLAN

    Thursday, May 19th, 2022

    Homeseller Series: Review the Marketing Plan

    Homeseller Series: Review the Marketing Plan


     

    Communication Counts.

    While many agents work to get signs on lawns, I work to sell properties. To do that requires consistent communication, and honesty about feedback and pricing strategies. I work hard to answer my clients both quickly and honestly.
     

    3D Matterport Tour.

    I will ensure your property is presented with as much information as possible. I choose to market your home using the Matterport 3D Tour. Immersive 3D experiences so real, they’re like being there!Matterport 3D Showcase is unlike any other real estate virtual tours. It’s the most realistic, immersive way to experience a property online.
     
    “Matterport 3D Showcase is a better real estate virtual tour: an immersive, 360º virtual experience that engages buyers, delights sellers. Traditional photography or a flat floor plan can’t tell the story of how you live in a multi-story home. The doll house view, elevator tool and ability to ‘walk’ through the home is critical to a true understanding of the home’s value to the individual.”
     

    Professional Photography.

    Includes 360 degree left-right photography and 300 degree vertical images:
     
    Output Pano Pixels: 134.2 MP, equirectangular; Lens: 4K Full Glass, White Balancing: Automatic full-model, 360° (left-right) x 300° (vertical) field of view.
     

    Floor Plan.

    There are many types of buyers and engagers in the buyers market. Each has a different preference of how they want to learn about a prospective purchase. Plenty of buyers like looking at traditional floor plans to ‘see’ the layout of a home. Your home will have a deconstructed floor plan created, to see more, please review the sample brochure in your listing package.
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    HOMESELLER SERIES: 7 REASONS A SELLER SHOULD HIRE A REALTOR®

    Thursday, May 19th, 2022

    Homeseller Series - 7 Reasons a Homeseller Should Hire a Realtor

    Homeseller Series – 7 Reasons a Homeseller Should Hire a Realtor


     
    REALTORS® aren’t just agents. They’re professional members of the Canadian Real Estate association, the Real Estate Council of B.C. as well as your local REALTORS® membership board and subscribe to its strict code of ethics. These are just some of the reasons a Seller should hire a REALTOR®.
     

    Ethical treatment.

    Every REALTOR® must adhere to a strict code of ethics, which is based on professionalism and protection of the public. As a REALTOR®’s client, you can expect honest and ethical treatment in all transaction-related matters. The first obligation is to you, the client.
     

    An expert guide.

    Selling a home usually requires dozens of forms, reports, disclosures, and other technical documents. A knowledgeable expert will help you prepare the best deal, and avoid delays or costly mistakes. Also, there’s a lot of jargon involved, so you want to work with a professional who can speak the language.
     

    Objective information and opinions.

    REALTORS® can provide local information on utilities, zoning, schools, and more. They also have objective information about local selling practices. REALTORs® can use that information to help you determine if your offer has what you need.
     
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    Fraser Valley Sales Dip Below 10 Year Average

    Tuesday, May 3rd, 2022

    It’s the first time in 2 years, that Fraser Valley sales have dipped below the 10 year average.
     

    B.C. Real Estate Update for May 2022

    B.C. Real Estate Update for May 2022


     

    THE CURRENT REAL ESTATE CLIMATE IN B.C.

    We would typically see a flurry of activity around this time of the year, however that’s not been the case so far. While it’s still too early to say whether this trend will endure, the slowing of sales combined with an increase in active listings is helping to restore a semblance of balance to the market, which is encouraging for homebuyers”

     

    FRASER VALLEY REAL ESTATE BOARD STATISTICS UPDATE

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    I’ve Moved This Time!

    Sunday, May 1st, 2022

    It’s official. I’ve transferred my Real Estate License over to Lighthouse Realty Ltd.
     

    Metro Vancouver Realtor

    Metro Vancouver Realtor


     
    To accomodate a modern real estate model moving forwards, I opted for a brokerage that offers more convenience for both my customers and myself. While the fees will be considerably less for each transaction, there is more freedom with client deposits. In the future any of my out of town clients can bring their purchase deposit to TD. I can bring the deposit directly to TD, so no more deposits need to be sent by courier., and I no longer have to deliver them to my brokerage.
     
    There even seems to be a larger push towards ethics but time will tell. Items such as ‘no signs on properties that don’t have listings in place.’ A focus towards better customer service, rather than pushing through clients to pay extreme brokerage fees.
     
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    Canadian Home Sales Slow Down

    Monday, April 25th, 2022

    Home sales slowed down noticeably in March 2022, yet it’s still the second strongest month for sales volume, ever.
     
    With the Bank of Canada aggressively hiking interest rates, this slowdown may last a while as Canada continues to face record low supply levels.
     

    Housing Market Snapshot - April 2022

    Housing Market Snapshot – April 2022


     

    New Listings in British Columbia Fall by 14.3%

    Housing markets in British Columbia have seen a 14.3% decrease in new listings, compared to this time last year, with 18,076 added in March 2022.
     

    Benchmark Price of Canada - April 2022

    Benchmark Price of Canada – April 2022


     
    Home Sales are down 23.2% across B.C. with 11,580 units sold in March of 2022, compared to 15,087 in March of 2021.
     
    The average price of homes sold across BC in March of 2022 was $1,089,600 up 15.2% from March 2021.
     

    TO VIEW HOMES FOR SALE IN SOUTH SURREY – WHITE ROCK AND MORE – CLICK HERE

    Hopeful Signs for Homebuyers in The Fraser Valley

    Sunday, April 10th, 2022

    Continued growth in new listings a hopeful sign for homebuyers in the Fraser Valley. We may not see the impact of recent interest rate hikes on market trends until late 2022. Fixed rates are almost double what they were a year ago. New homebuyers will likely be more impacted than other segments of the homebuying public.
     

    Fraser Valley Housing Market Statistics -  April 2022

    Fraser Valley Housing Market Statistics – April 2022


     

    THE CURRENT REAL ESTATE CLIMATE IN B.C.

    Sales were strong again in March as more new listings continued to come on stream. We’re hopeful this will contribute to a slowing in price growth, which is good news for the home-buying public. Other encouraging signs, such as less open house traffic and fewer multiple offers, may help us get to a more balanced market, however until the fundamental issue of lack of supply is addressed, we won’t see that happen anytime soon.”

     

    FRASER VALLEY REAL ESTATE BOARD STATISTICS UPDATE

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    Changes to B.C. Real Estate – Pandemic Response

    Friday, April 8th, 2022

    The Public Health Officer recently announced changes to BC’s COVID-19 response, to take effect today, April 8, 2022. Health and safety of our clients remains our top priority and we have some changes to mention about our pandemic response.
     

    Changes in Pandemic Response - BC Real Estate

    Changes in Pandemic Response – BC Real Estate


     
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    Typical Buyer Transaction Costs in B.C.

    Thursday, March 31st, 2022

    There are a variety of unavoidable expenses that come with real estate purchases, also called closing costs. It’s important to set aside funds to complete the real estate transaction so that you can be confident you will be able to complete your purchase. AS a REALTOR®, I can speak with you about the closing costs you will incur for your particular situation. Let’s take a closer look below.
     

    Typical Buyr Transaction Costs in B.C.

    Typical Buyer Transaction Costs in B.C.


     
    1. Home Inspection
     
    2. Appraisal (if required for Financing)
     
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    Fraser Valley shows record volume of new listings!

    Thursday, March 10th, 2022

    Buyers of Fraser Valley real estate had significantly more inventory to choose from last month due to a record-breaking volume of new listings received for the month of February.
     

    Fraser Valley Housing Market Statistics -  March 2022

    Fraser Valley Housing Market Statistics – March 2022


     

    THE CURRENT REAL ESTATE CLIMATE IN B.C.

     

    Although the market is still far from balanced, it is encouraging to see new listings increase again for the second month in a row. We’re hopeful that this trend will be sustained leading into the spring season as more sellers come on stream to help soften the market and provide opportunities for the many buyers who’ve been sidelined over the past year and a half.”

     

    FRASER VALLEY REAL ESTATE BOARD STATISTICS UPDATE

     
    The Fraser Valley Real Estate Board (FVREB) received 3,742 new listings in February, an increase of 75.3 per cent compared to January, and an increase of 14.6 per cent compared to February of last year. The previous highest February for new listings was 3,283 in 2016.
     
    The FVREB processed a total of 1,824 sales of all property types on its Multiple Listing Service® (MLS®) in February 2022, a decrease of 35.2 per cent compared to February 2021, and 39.2 per cent higher compared to January 2022. Sales remain strong at 18 per cent above the 10-year average.
     

    By month end, February’s total active listings available for purchase were 3,790, a decrease of 8.0 per cent compared to the same month last year, however 62.5 per cent higher than what was available at the end of January. It’s the highest month-over-month increase in active listings in the Fraser Valley in 20 years.
     

    Fraser Valley MLS Sales Statistics - March 2022

    Fraser Valley MLS Sales Statistics – March 2022


     
    In the Fraser Valley region, the average number of days to sell an apartment in February was 12 days, and 11 days for townhomes. Single family detached homes averaged 13 days before selling. The one-year comparison is 35, 21 and 21 respectively.
     

    MLS® HPI BENCHMARK PRICE

  • Single Family Detached: At $1,670,800, the Benchmark price for an FVREB single-family detached home increased 6.5 per cent compared to last month and increased 43.6 per cent compared to February 2021.
  • Townhomes: At $840,900, the Benchmark price for an FVREB townhome increased 5.6 per cent compared to last month and increased 40.1 per cent compared to February 2021.
  • Apartments: At $614,800 the Benchmark price for an FVREB apartment/condo increased 7.1 per cent compared to last month and increased 36.3 per cent compared to February 2021.
  •  
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    Canadian Housing Market Expectations in 2022

    Thursday, February 10th, 2022

    Even after shattering all sorts of records in 2021-for high sales and prices and low inventories-Canada’s housing market isn’t about to buckle. Plenty of unmet demand remains and will continue to fuel tremendous activity across the country.
     

    Canadian Housing Market Expectations in 2022

    Canadian Housing Market Expectations in 2022


     
    Still, we expect the Bank of Canada’s rate liftoff to turn down the market’s heat in 2022 as deteriorating affordability sends buyers to the sidelines. Higher interest rates and the likelihood of new anti-speculation measures will also prove a tougher proposition for investors.
     
    In all, we expect 579,600 existing Canadian homes to change hands this year. Though down 13.1% from the astounding 667,000 transactions in 2021, that’s still the second-highest amount in history. The ongoing construction boom will bring much needed new supply to the market, helping to ease severe shortages.
     

    HOME PRICES WILL KEEP CLIMBING

    Most of the increase in supply and cooling of the market will take place in the second half of 2022. Demand-supply conditions will become much less favourable for sellers. This will reduce upward pressure on prices. We think this will slow the pace of appreciation, but not alter the direction (with some local exceptions). We project Canada’s benchmark price to rise 6.2% in 2022 or nearly a third of the record rate of 17.8% last year. The momentum will be even slower in 2023 with most markets returning to better balance.
     
    READ MORE AT RBC ECONOMICS HERE