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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

February Residential Statistics

Last month saw a 31.7% decrease in residential unit sales of 6,580 units recorded by the Multiple Listing Service® (MLS®) in comparison to the same period last year. The total sales dollar volume also saw a decrease of 39.7% bringing it down to $4.53 Billion. 

"Consumer demand has returned to a more typical level over the first two months of the year," says Cameron Muir, BCREA Chief Economist. "While the home sales have declined nearly 32 per cent from the extraordinary performance of a year ago, last month's activity reflected the average for the month February since the year 2000."

As for the average MLS® residential price in the province, it also saw an 11.7% decrease which brought it down to $688,117. A main factor driving the average price down is that there was...

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January Residential Sales

Overall, we have seen a decrease in residential sales when comparing January 2017 to January 2016. Last month, there were 4,487 residential unit sales recorded by MLS® which is a 23% decrease in comparison to January 2017. For the total sales dollar volume, it was recorded at $2.79 Billion which is a 36.5% decrease from the same period last year. There has been a decrease of 17.5% in terms of the average MLS® residential price in BC bringing it to $621,093.

"Housing demand across the province returned to long-term average levels last month," said Cameron Muir, BCREA Chief Economist. "However, regional variations persist, with Victoria posting above average performance and Vancouver falling below the average." 

The decrease in the average MLS® residential price...

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FOR LEASE - OFFICE/RETAIL SPACE

Contact Amalia Liapis at 604-618-7000 or alternatively at amalia@wesellvancouver.ca for showings or for additional details on the three properties listed above. 

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New property listed in Downtown VE, Vancouver East
I have listed a new property at 2-LOWER 163 PENDER ST E in Vancouver.
Newly renovated in the heart of Chinatown. The silk building which is west of Main St boasts 12 foot ceilings, open floor plan, polished concrete floors, top of the line air system & 3 bathrooms. Density in the area has been rapidly increasing with several new condo & commercial developments bringing in new residents, cafes & foot traffic. Public transportation is directly on Pender Street with the skytrain just blocks away.
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New property listed in Downtown VE, Vancouver East
I have listed a new property at 1 163 PENDER ST E in Vancouver.
Great retail in newly renovated Silk building, in the heart of Chinatown. The unit boasts 16 ft ceilings, store front floor to ceiling windows & door, and a full wall of windows along the side; polished concrete floors, 2 bathrooms, venting in place if needed. Density in the area has been rapidly increasing with several new condo and commercial developments bringing new residents, cafes, retails and foot traffic. Public transportation is directly on Pender Street with the skytrain just blocks away.
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New property listed in Downtown VE, Vancouver East
I have listed a new property at 3 163 PENDER ST E in Vancouver.
Newly renovated in the heart of Chinatown. The Silk building which is west of Main St boasts 14 ft ceilings, open floor plan, polished concrete floors, surrounded by windows on 3 sides and 2 full bathrooms. Density in the area has been rapidly increasing with several new condo and commercial developments bringing in new residents, cafes and foot traffic, public transportation is directly on Pender Street with the skytrain just blocks away.
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Commercial Market Demand

Below you will find the commercial sales activity broken down by category for the Lower Mainland for Quarter 3 of 2016 and 2015 and the relevant percentage change. As well, there is a year-to-date comparison which encompasses the first three quarters. Quarter 4 statistics should be released in the next few weeks! The statistics for the Lower Mainland are inclusive of the following 18 cities: Abbotsford, Burnaby, Chilliwack, Coquitlam, Delta, Langley, Maple Ridge, Mission, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, Surrey, Vancouver, West Vancouver and White Rock. Thus, the first table is not representative of only Vancouver commercial real estate (a separate table will break down the statistics for Vancouver).

Below you will find information from...

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First-Time Home Buyers Loan Program

Premier Christy Clark has recently announced a new loan program called the BC Home Owner Mortgage and Equity (HOME) Partnership Program that will assist first-time home buyers by contributing to your personal down payment. The government will lend the buyer funds equal to the down payment up to $37,500, or 5% of the purchase price. This new loan would be granted to Canadian citizens or permanent residents who have never previously owned a property and is only applicable to residences with a maximum purchase price of $750,000. This will be an interest-free and payment-free loan for the first five years. After that period, buyers can then either repay their loan or enter into monthly payments at current interest rates. These loans will become due after 25 years, which is the typical length...

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I have sold a property at 503 610 VICTORIA ST in New Westminster
I have sold a property at 503 610 VICTORIA ST in New Westminster.
WATER VIEW - The Point, located in the heart of New Westminster's Downtown core! This spacious 1 bedroom, 1 bathroom 630 sq ft home boasts beautiful city and water views. Features floor to ceiling windows, hardwood flooring, walk-in closet, fireplace and a covered balcony. Open concept kitchen w/ stainless steel appliances, granite countertops & breakfast bar. Cheater ensuite w/ granite, overmount sink and deep soaker tub. Includes 1 parking. Building amenities include pool, recreation center, gym and more! Everything is just steps away from your doorstep; Skytrain, restaurants, shopping, gyms, schools, Pier Park, and more!
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501-630 Victoria Street

We're not just selling a home, we're selling the community. With a walk score of 96, it's no doubt that our newest listing at 503-610 Victoria Street is in a prime location. Take a look at our community profile to see what's in the area! Contact Amalia Liapis at 604-618-7000 or at amalia@wesellvancouver.ca for more details. Additional information can be found here

 

 

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