Blog

RSS

When would you talk to a car salesperson? Probably only once you’re ready to buy a new car. You would do some initial research (perhaps on the internet), get an idea of what you want, and then go to the dealership to meet a salesperson, test drive the car and make the purchase.


Although that approach may work when you’re buying a car, it’s not the best approach when it comes to real estate.


You see, successfully buying or selling a home requires a lot of planning and legwork. You want the process to go smoothly, the right decisions to be made, and the best possible deal to be negotiated.


After all, this is the purchase and/or sale of your home!


So, the best time to talk to a REALTOR® is as early in the process as possible.


In fact, even if you’re just thinking of buying or selling — and simply want to explore the possibility of making a move sometime this year — you should have a conversation with a good REALTOR®.


A REALTOR® will answer your questions, provide you with the information and insights you need, help you avoid costly mistakes, and make sure you’re heading in the right direction.


When you are ready to buy or sell, having worked with a REALTOR® early in the process will help ensure you get what you want.


So talk to a good REALTOR® when:


You have a question about the local market.
You want to know what your home might sell for today.
You’re interested in checking out homes currently available on the market. You’re in the midst of deciding whether or not to make a move.
You’ve decided to buy or sell. 

 

We are here for you. Greg & Liz Holmes  **  604.542.2444  **  info@holmesteam.ca

Read

Vancouver, BC – November 10, 2015. 

 

The British Columbia Real Estate Association (BCREA) released its 2015 Fourth Quarter Housing Forecast Update today.

 

Multiple Listing Service® (MLS®) residential sales in the province are projected to surpass 100,000 units this year. This level of home sales will be the third strongest on record and mark the first year since 2007 that BC home sales exceed the ten year average.

 

After climbing 15 per cent in 2014 and nearly 20 per cent this year, BC MLS® residential sales are forecast to decline 7 per cent to 93,700 units in 2016. “Less latent pent-up demand and gradual upward momentum of mortgage interest rates is expected to ease housing demand next year,” said Cameron Muir, BCREA Chief Economist.

 

“The inventory of homes for sale is now at its lowest level in nearly eight years,” added Muir. “Sellers’ market conditions are prevailing in many communities and causing home prices to be pushed higher.” The average MLS® residential price in the province is projected to increase 10.2 per cent to $626,000 this year and forecast to slow to a 2.2 per cent increase at $639,700.

 

Total housing starts in the province are projected to reach over 30,000 units this year, the highest level of production since 2008. Capacity constraints and an edging back of consumer demand is largely behind a forecast decline of BC housing starts, albeit just to 28,800 units in 2016.


If you are looking for more information specific to where you live, contact us info@holmesteam.ca or 604.542.2444.

Read

News Release: November 3, 2015

 

NO SIGN OF SLOWDOWN FOR FRASER VALLEY REAL ESTATE MARKET

 

SURREY, BC – Fraser Valley’s housing market remained in a seller’s market in October, fuelled by low interest rates and strong consumer demand, according to the Fraser Valley Real Estate Board.

 

There were 1,772 sales processed on the Multiple Listing Service® (MLS®) in October compared with 1,448 in 2014, an increase of 22 per cent. For the month, sales are on par with the previous high in October 2005; and historically, only surpassed by the markets of October 1992 and 1989.

 

Jorda Maisey, President of the Board, says she’s not surprised that October sales were near historic levels, “BC continues to be an economic growth leader in our country and we’re seeing the impact of that in our housing market.

 

“In the Fraser Valley, demand is strongest for ground-oriented homes. Single family homes and townhomes garnered 83 per cent of our residential market last month. The reasons are due to low interest rates, pent-up demand and most importantly, price. People can afford to own their own single family home in the Fraser Valley.”

 

The Board received 2,155 new listings last month, 10 per cent fewer listings compared to October of last year. The total active inventory for October was 6,535, down 26 per cent from last year’s 8,807 active listings.

 

Maisey says with the lack of listings, sellers have had the advantage, “In some of our areas, active inventory of single family detached is down a third to a half of what was available this time last year. The fewer homes available, the more in demand they become, which is why we have seen an impact on prices, most notably on single family detached homes.”

 

The MLS® Home Price Index benchmark price of a detached home in October was $649,200, an increase of 13.2 per cent compared to October of last year when it was $573,500. The MLS® HPI benchmark price of Fraser Valley townhouses increased 5.1 per cent going from $298,500 in October of last year to $313,700 last month. The benchmark price of apartments was $203,100, an increase of 5.5 per cent compared to $192,600 in October 2014.

Maisey adds, “Our inventory shortage of ground-oriented homes has had a positive spin-off on our condo market.

 

We’ve advised many of our entry-level buyers to consider an apartment rather than a townhome because the selection is far superior and prices, on average, $100,000 less. Many buyers just aren’t aware of the new and resale options available to them.”

Read
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.