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Are You Ready to Buy Your Next Home in Vancouver?

If you are ready to buy your first house, condo or townhouse in Vancouver Yaletown, Kitsilano, Vancouver Downtown, Gastown, West Vancouver, Coal Harbour, Kerrisdale, False Creek or other parts of the Lower Mainland, then there are three vital tips that you will want to keep in mind as you prepare to enter into the Vancouver real estate marketplace. By following these tips, you will be in the best possible position to ensure that you really will be able to find and buy your dream home.

Get Pre-approved for a Home Mortgage

Perhaps the most important step that you should keep in mind when it comes to buying your first home is to get pre-approved for a home mortgage loan. By getting pre-approved for a home mortgage loan before you start looking, you will be in a far stronger position to enter into a real estate contract.

The typical home seller will be more eager to enter into a sales contract with a person who has been pre-approved for a home mortgage loan. One of the biggest obstacles to closing a real estate deal in Vancouver and the Lower Mainland is usually the inability of the buyer to obtain acceptable bank financing. By coming to the bargaining table with a pre-approved home mortgage, you will be able to demonstrate to a seller that you are serious about buying their home.

Develop a Specific Home Buying Plan

Another important step that you will want to take when it comes to buying your first home is to develop a specific home buying plan. If you do not have a plan, you will often be tempted off course in your search for that perfect property. A Vancouver REALTOR® will help you set up your plan.

Perhaps the most significant element of a plan is to set forth specifically what you are willing to pay for a house, condo or townhouse. The failure to establish such a budget oftentimes results in a person ending up spending far more on a home than he/she can actually afford.

Consult with a REALTOR®

Finally, your interests can be best served by engaging a professional Vancouver real estate agent to assist you in your search for your home. Our agents will provide you with the newest Vancouver MLS real estate listings, advise you on all facets of a property and the current market, guide you through the complex contract negotiations and always be there for your needs. By selecting a professional Vancouver real estate agent to assist you in your home search, you have the best chance for success in finding your ideal Vancouver house, condo or townhouse and ensuring your experience is both exciting and stress-free.
 
 

 

Latest Vancouver Real Estate News

Laneway House Construction

Today's blog will look at the tax implications of constructing a laneway house. First things first, what IS a laneway house? It is a small detached residential infill house that typically fronts on the lane of a larger principal house and is generally located where the garage would normally go on a single-family lot. A laneway house can be built on any lot 32 feet or wider in any RS single family zone. Within Metro Vancouver, this type of housing unit is gaining popularity as it increases the value of one's home. However, a few things to note is that it could potentially affect the eligibility of claiming a Home Owner Grant, may result in higher property taxes and may affect the capital gains principal residence exemption for tax purposes.

The City of Vancouver sets out a step-by-step guide...

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New property listed in West End VW, Vancouver West
I have listed a new property at 1406 1028 BARCLAY ST in Vancouver.
LUXURIOUS home at the Patina by Concert. Stunning 578 sq ft 1 bedroom. 1 bath, den + LARGE balcony and 1 parking - one of the two B2 floorplans! Very central location in the heart of downtownm with YMCA right in the complex, shopping,theatres, restaurants - between corporate district, English Bay and Stanley Park. This home sports the highest quality of finishings and workmanship. Granite counter tops, Leibherr and Miele appliances, Italian ceramic, in floor bathroom heating, A/C, roller blinds, recessed lighting, latest wiring for advanced telecom. Bike room, gym, concierge, social suite opens to beautiful rooftop garden and more. Don't miss this one!
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New property listed in Yaletown, Vancouver West
I have listed a new property at 212 1080 MAINLAND ST in Vancouver West.
Yaletown Galleria is located in the heart of Yaletown and this 704 square foot office is two strata lots combined, located on the second floor and overlooking Mainland. Unit features high exposed ceilings, upgraded internet/phone wiring, built-in Nortel system, alarm, board room, air con, kitchenette and more. Comes with TWO private parking stalls. Yaletown is a one of a kind and growing neighbourhood with a wide selection of Vancouver's best restaurants, bars and trendy boutiques. Local businesses are a diverse mix of young professionals, finance, advertising and tech industries. Office is half a block away from the Yaletown Skytrain station.
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New property listed in Yaletown, Vancouver West
I have listed a new property at 902 1288 MARINASIDE CRES in Vancouver.
RARE WATERFRONT WITH VIEWS OF WATER & CITY! Exquisitely finished apartment with custom furniture, Top Miele and Leiberman appliances, silestone countertops, Italian tile, H/W flrs throughout, alpaca carpets, custom colours, Grohe fixtures.Efficient layout makes this suite feel and look much larger than sq footage. Best location in Yaletown's Waterfront, Crestmark I. Only 4 suites on the 9th floor which makes for an exclusive and private retreat. 24 hour Concierge, top security, exclusive 1 parking and 1 storage locker. Just walk outside your door to some of Vancouver's best eateries or go for a walk on the waterfront. Don't miss this one!
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Metro Vancouver Commercial Statistics Part II

Our last blog took a look at 2014 statistics in the realm of commercial real estate. Today we'll be exploring statistics for 2015 thus far. As noted in our last blog, commercial land sales have driven sales activity for the first quarter. It has been an upward trend for the past four years in terms of dollar value in land sales.

“It was the most active first quarter we’ve seen in our commercial market over the last five years,” Darcy McLeod, REBGV president said. “This activity reflects the growth we’re seeing in related sectors within our economy such as retail and manufacturing.”

Below you will find a comparison chart of Quarter 1 commercial real estate activity by category for the years 2014 and 2015. As you can see, the number of sales has seen an increase...

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Metro Vancouver Commercial Statistics

Before diving into the statistics for the commercial real estate market in the Lower Mainland for 2015, let's back track and take a look at 2014. The Lower Mainland's commercial real estate market topped out at 1,963 sales allowing it to hit a five-year high in terms of the number and value of sales. The commercial real estate sales for 2014 were 4.4% above the region's five-year sales average totalling $6.086 billion in sales.

Ray Harris, REBGV president stated, "[o]ur commercial real estate market was up in 2014 thanks in large part to increased demand for raw land transactions within the development and investor community. An increase in land transactions is often a signal of confidence in the market because it required a multi-year investment."

Following in suit with the trend of growing...

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Canada's Economic Outlook


The Government of Canada has implemented a balanced budget which serves the purpose of supporting a diversified economy and advancing economic growth for the country. Following the 2008/2009 financial crisis, the Canadian government has been steadily moving towards a balanced budget with a $1.4 billion surplus in 2015-2016. Despite the move towards a balanced budget, the Business Council of BC is still preceding with caution due to the slow global growth currently exhibited, the drastically low oil prices and the overall weakness in other commodity markets. The cautious approach for the Canadian economic outlook has subsequently resulted in a significant decline in the nation's overall terms of trade. April 2015 saw a decline in Canadian exports of 0.7% in April and a 2.5% decline in its imports...

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Housing Market Update - Prevalent Seller's Market

 

Source: BC Real Estate Association (BCREA)

Cameron Muir, Chief Economist of the BC Real Estate Association (BCREA), gives a quick, yet detailed overview of the May 2015 statistics. Looking at the statistics, seller market conditions are prevailing. In the first time since 2007, MLS residential sales within BC surpassed 10,000 units in the month of May with an astonishing 10,174 residential unit sales recorded. Looking back at the first five months of the year, there has been a 22% increase in home sales and a 35% increase in the dollar volume bringing it to $25.4 billion. In contrast, there has been a 14% decrease in inventory of homes for sale from the previous year at approximately 45,000 units. This is the lowest level for the month of May since 2007. 

"Home sales for the month...

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Housing Demand Outpacing Supply

The Real Estate Board of Greater Vancouver (REBGV) provides us with an easy-to-understand video that depicts the specific insider trends in the housing market. Demand continues to outpace supply across Metro Vancouver resulting in seller market conditions.

In order to stay competitive in the marketplace, get connected with a knowledgeable realtor. With over 25 years in the industry, WeSellVancouver can provide advice on:

» Strategies for pricing
» What to include in the contract
» How to safeguard yourself

Whether you're buying or selling, we can assist you through the process. Contact us via e-mail at amalia@wesellvancouver.ca or by phone at 604-618-7000 for all your real estate needs.

Source: Real Estate Board of Greater Vancouver

 

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Home Renovations: Cooling Edition

For the warmer months, cool down with these tips and perhaps you can put some of that extra cash you save towards a summer vacation. Take a look at our previous blog on how to make improvements in your home to save heat and money. 

Install a Programmable Thermostat
Set it at a lower temperature at night and during the day when you're away. This can be done automatically without sacrificing comfort through the easy installation of a programmable thermostat or an automatic setback. With the former, you can turn on heating or air-conditioning based on a pre-determined schedule. Programmable thermostats are a great way to save on your energy bills as heating and cooling account for about 42% of energy costs. A majority of these costs come from heating and cooling empty or unused spaces. Each...

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