It's halfway through the second month of the year and things don't appear to be slowing.
Importantly, a number of owners are preparing for the Spring market.
Contraversy around the practice of assignments hit the headlines in the last week which makes choosing the right Realtor even more important.
Today some dramatic measures designed to curb foreign and local speculation and support affordability come into effect.
Thanks for taking the time to read this and I welcome any feedback. My business is based almost entirely on referrals...feel free to forward this to anyone who might find this useful.
Cheers,
Craig
*A byteis the smallest group of information that a computer can process in one chunk or bite. The bits in a byte are processed together and, more importantly for us, the byte is presented to us in a form that we can understand.
Dramatic Budget Measures to Address Affordability
*Click on the image
January Bytes
"Home Buyer Competition Keeps Home Sellers in Driver's Seat"
Home buyer activity remains at near record levels across the Metro Vancouver housing market.
Last month’s sales were 46 per cent above the 10-year sales average for the month and rank as the second highest January on record.
“Fundamental economics are driving today’s market. Home buyer demand is at near record heights and home seller supply is as low as we’ve seen in many years,” Darcy McLeod, REBGV president said.
With assignment of contracts, often for obscene margins, there is an emphasis on properly marketing your home.
“The MLS® is the most powerful real estate marketing system in the country. If you’re thinking of selling, it’s important to talk with your REALTOR® about putting your home on the MLS® system to ensure your property gets maximum exposure,” McLeod said.
The sales-to-active listings ratio for January 2016 is 38 per cent. This is indicative of a seller’s market.
Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark, while home prices often experience upward pressure when it reaches the 20 to 22 per cent range in a particular community for a sustained period of time.
Want more than a Byte? Read the Full Meal Deal below:
*Click each photo to go through to a full listing with narrative, additional photos and floor plans
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Congratulations this month to Shaukat and Rozmin who set a Seascapes' record for the sale of their townhome within 7 days of list. And to Ellen and Ben, at the opposite end of the homeowner cycle, who bought their first home on Bowen Island.
A number of owners have given me an indication that they are willing to sell their homes but are not yet ready for the MLS®. They are ready to entertain off-market offers.
I have homes in Lions Bay in the $1.7M and 3 homes in the $1.5M range. If either of these areas are on your radar please call me to discuss.
Amazing Views, Amazing Renovation and Move in Ready!! This is the one!!
185 Panorama Place, Lions Bay
