February 2020

Market Watch: Home Sale Activity Up, Supply Down To Start 2020
Home sale and price activity remained steady in Metro Vancouver to start 2020 while home listing activity declined in January. ... read more
Are You Ready for RRSP Season?
RRSP season is upon us! Time to go through the couch covers and scrounge up the last of our savings to make that all-important contribution. Let’s look at some fundamental concepts of RRSPs. ... read more
Design Ideas for Building a Garden Fence
A garden fence is probably the most important element of garden design. The more the fence looks attractive and welcoming the more you and your guests will feel comfortable. In some ways, a garden will appear incomplete without a fence. A garden fence not only adds to the overall beauty of the garden but also gives the entire landscape a more complete look. A fence can be erected around the front yard, backyard or around the entirety of the property. Adequate fencing adds to the security of your house and property as well. ... read more
Is an Open House Worth the Effort?
Open houses require a lot of preparation and are inconvenient to the home occupants and the selling agent. Many agents now refuse to hold open houses, considering them a waste of time and a security threat. And many sellers prefer to open their doors to serious buyers only. ... read more
Choosing The Right Neighbourhood
Whether buying or renting, you should be choosy about the neighbourhood you move into. And if you have a family, there are even more factors to consider. So before you move, research your options; get to know the area, spend some time on its streets, in its cafes and walk along its sidewalks. Just like any relationship, feel it out before you move just to make sure it's a good fit. ... read more
 

With Compliments of

Karel and Darryl
Personal Real Estate Corporation


RE/MAX Select Realty
Top Team at RE/MAX Select
6 Consecutive Years,
T: 604.329.1430(K) 604.644.5920(D)
F: 1.866.282.1431
D: 604.678.3334
kpalla@shaw.ca darrylsj@shaw.ca
http://www.vancouversbestlistings.com

February Greetings,

We expect 2020 will be a much more typical year for markets compared to the volatility of recent years. 

This past month has bucked the trend from recent years in the Vancouver real estate market from the normally slow sales activity. The driving force for this increase in sales has been the entry point of the market, and as a result we've seen a bottom-up effect unfold. With low interest rates and a decrease in prices over the last two years, buyers have come out in full force this month causing properties at entry points into the market to sell very quickly. This has created a ripple effect towards the middle of the market for townhouses and half duplexes, which are now selling again for premium prices. The net result of this is a decrease in inventory and an increase in multiple offer situations on many listings. The detached house market is reaping the benefits of this as well with a push in sales and a lack of new listings as sellers now wait to see if their values will rise this year. 

The market for luxury condos and detached homes is still moderately slow, as high taxes, lack of affordability and a limited flow of offshore money continue to tell this story. 

If you are wanting to take advantage of this market or happen to know someone who is, give us a call. For up to date and relevant information for you, please call or text us at 604-329-1430 or 604-644-5920 to arrange your free consultation. We can help navigate you through this market transition, ensuring any purchase and/or sale goes smoothly.

We have many success stories and we can help you with our market expertise. More than ever, it is critical to hire an agent with experience.

We hope you enjoy this month's newsletter. 


604-678-3334. OFFICE

Best Wishes,


Karel and Darryl 


www.vancouversbestlistings.com




NATIONAL MORTGAGE RATES
Term Posted
Rates*
Best
Rates*
6 Months 3.34% 3.30%
1 Year 3.59% 3.04%
2 Years 3.74% 2.89%
3 Years 3.89% 2.79%
4 Years 3.95% 2.95%
5 Years 5.34% 2.69%
7 Years 5.80% 2.99%
10 Years 6.10% 3.04%
Variable Rate 2.90%
Prime Rate ** 3.95%
*last updated: Feb 18,2020


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