Home Buying Guide

Congratulations on making the decision to buy a new home!

The process is an exciting, but complex one. Don’t worry. Our team at Macdonald Realty is committed to providing you with expert
guidance along the way. Let’s get started.

My job as your real estate agent is to help you narrow your search criteria and show you potential
properties that meet your requirements. I write the offer and negotiate on your behalf. My service
follows through to your possession of the property, and I can recommend service providers to assist
you along the way.

This Home Buyer’s Guide will give you an overview of what to expect over the next several weeks. It
cannot cover every question that may come up so please don’t hesitate to ask any questions you
might have.

I look forward to working with you.

 

About Macdonald Realty

Macdonald Realty was founded in Vancouver back in 1944, and has continued to grow through the years and the changes in the real estate market. We’re solid, established and respected, with nearly 20 offices throughout British Columbia.

Today, we’re Western Canada’s largest independent full service real estate company, with residential, commercial, property management and project marketing divisions. And we’re still proudly BC owned and operated.

Education and Support

Our agents are backed by programs and support that allow them to offer the best service possible for their clients.  From our mandatory training to ensure agents are up to date on industry changes, to our commitment to speciality education such as negotiation training, clients can feel confident in the knowledge that our agents are operating with the latest information and strategies for the variety of situations that may arise during your home purchase.

Global Connections

Macdonald Realty can help you buy here, across BC, Canada and in over 70 countries around the world.  This means that if you or someone you know is buying real estate in another area we can introduce you to a top notch local real estate expert to assist you. Over the last 10 years our Relocation Department has helped clients buying investment or vacation homes in popular sun and ski destinations like Hawaii, California, Arizona and Colorado as well as those relocated for work or family reasons.

Macdonald Realty is a member of Leading Real Estate Companies of the World™, a global community of real estate companies awarded membership based on rigorous standards for service and performance.  This LeadingRE distinction ensures that you can count on a quality real estate experience when working with us and will benefit from our global connections to buyers and high quality real estate professionals around the world.

Together with our LeadingRE partners we form the #1 real estate network in North America based on annual unit sales.

 

Mortgage Pre-Approval

Determine exactly how much you can afford before we start looking.  Your dream home could arrive on day one of your search.  Let’s get prepared.

Advantages of mortgage pre-approval

  • Narrow your search and save time seeing only homes you can afford.
  • Lock in a mortgage rate for up to 120 days with your pre-approval to protect against potential mortgage rate increases.
  • Your pre-approved status may be a valuable asset when making an offer to purchase or negotiating with a seller.  It shows you are serious and have your finances in place.
  • Knowing your down payment and monthly payment amounts can help you manage cash flow and expenses leading up to your move.
  • Pre-approval comes at no cost to you and you’re not obligated to accept the mortgage.

Sit down with a mortgage specialist to discuss your financial strategy and needs including; mortgage amount, down payment, and purchase price.  They’ll explain your mortgage options (fixed vs. variable rate, interest terms, payment options, and amortization) and discuss which of them best suit your needs.  At that point you would proceed with the pre-approval paperwork.

Buyer Agency

By choosing to work exclusively with Macdonald Realty, you are entitled to unparalleled customer service and legal protection.

Buying and selling real estate is often one of the largest transactions that most of us will make. The experience can be thrilling, financially rewarding, and stressful. A professional buyer’s agent will assist you through this process, and guide you through some of the pitfalls that greet potential property owners.

Understanding client needs and motivations are integral to producing positive results and building long-term relationships. Macdonald Realty agents are licensed real estate professionals who work within a legal framework called Agency. Agency provides the real estate agents the authority to represent your interests when dealing with other parties.

In the province of British Columbia, an agent owes fiduciary duties to clients whom they represent through agency relationships.

These duties include:

  1. Loyalty
  2. Avoiding conflicts of interest
  3. Acting in the best interest of the client
  4. Fully disclose relevant information
  5. Protect your confidentiality

Engaging an agent is an exclusive arrangement between agent and client, and ensures that your best interests are always protected. Macdonald Realty agents pride themselves on being industry leaders and possess an array of professional skills not commonly found in today’s real estate industry.

Traditional Transaction Costs

This is by no means an exhaustive list, but it will give you an idea of some of the costs associated with a real estate transaction.

seller’s costs

  1. Lawyer’s Fees: Attending to Execution of Documents
  2. Costs of Clearing Title including:
    • Discharge Fees charged by Encumbrance Holders
    • Mortgage Prepayment Penalties
  3. Real Estate Commission
  4. GST on Real Estate Commission (5%)

buyer’s costs

  1. Home Inspection
  2. Appraisal (if required for Financing)
  3. Lawyer or Notary fees and expenses:
    • Searching Title
    • Investigating Title
    • Survey Certificate (if required)
    • Drafting Documents
    • Land Title Registration Fees
    • GST on legal fees (5%)
  4. Insurance
  5. Property Transfer Tax
    • 1% on the first $200,000,
    • 2% on the portion of the fair market value greater than $200,000 and up to and including $2,000,000, and
    • 3% on the portion of the fair market value greater than $2,000,000, and if the property is residential, a further 2% on the portion of the fair market value greater than $3,000,000.
  6. GST on new construction

Foreign nationals and foreign corporation are required to pay an additional 20% property transfer tax on residential property located in the Greater Vancouver Regional District, Fraser Valley Regional District, Capital Regional District, Regional District of Nanaimo and Regional District of Central Okanagan.

Home Inspection

Provided that an inspection was one of the subject conditions of your offer, you will schedule a home inspection after the offer has been accepted by the seller(s). Often, particularly in multiple offer situations, a pre-inspection will be conducted before you make your offer.

Depending on the size of the property, the home inspection will usually take between two and four hours. As the buyer, you are responsible for paying for the home inspection. Costs vary depending on the inspector but generally range between $400 and $800. Home inspectors usually require payment upon completion of the inspection so it is recommended that you confirm method of payment prior to meeting the inspector on site.

Upon the completion of the home inspection, the inspector will provide you with an oral report. The inspector will follow up with a written report identifying potential areas of concern related to plumbing, electrical, heating, roofing, foundation or structure.

If significant issues are discovered through the home inspection you have the option to withdraw your offer, request that the seller(s) make the necessary repairs or have your agent negotiate a price abatement to offset the cost of the expected repairs.

Home inspections are not intended to be used as a renegotiating tool and cannot be used to get you out of a contract because you have a change of heart.

Property Transfer Tax (PTT)

 standard PTT calculations

Property Transfer Tax (PTT) applies to the sale of all properties. It is calculated as:

  1. 1% on the first $200,000,
  2. 2% on the portion of the fair market value greater than $200,000 and up to and including $2,000,000, and
  3. 3% on the portion of the fair market value greater than $2,000,000, and if the property is residential, a further 2% on the portion of the fair market value greater than $3,000,000

For example, if the fair market value of a property is $650,000, the tax paid is $11,000.

Foreign nationals and foreign corporation are required to pay an additional 20% property transfer tax on residential property located in the Greater Vancouver Regional District, Fraser Valley Regional District, Capital Regional District, Regional District of Nanaimo and Regional District of Central Okanagan.

FIRST TIME BUYERS & PTT EXEMPTION

First time home buyers are eligible for a Property Transfer Tax Exemption provided they meet the following criteria:

  1. The home must be claimed and used as a principal residence;
  2. The buyer must never have previously owned property anywhere else in the world;
  3. The buyer must be a Canadian citizen or a resident of Canada and have resided in BC for at least one year prior to the purchase of the property.
  4. The full PTT exemption applies to properties priced at $500,000 and below and must be 0.5 hectares or smaller. You may qualify for a partial exemption from the tax if the property has a fair market value less than $535,000, is larger than 0.5 hectares, and has another building on the property other than the principal residence.

On the purchase of a new construction the exemption is set at $750,000 and below.

There is no exemption for the 20% tax.

Common Subject Clauses

 Detached Homes

The purpose of ‘subject clauses’ is to allow a particular party (buyer or seller) a specific period of time to confirm and clarify specific types of information integral to the purchase and sale of property.

While there are hundreds of potential subject clauses, typically, when buying a detached single family home, there are at minimum five subject clauses that are placed within the contract.

They are:

  1. Subject to being approved for mortgage financing
  2. Subject to satisfactory inspection
  3. Subject to receiving and approving the title search
  4. Subject to approving the Property Disclosure Statement
  5. Subject to arranging fire and property insurance.

Subject conditions must benefit a particular party to the contract (either buyer or seller) and must be removed by a specified date. Upon successful removal of all subject clauses, the contract becomes subject free. If subject conditions cannot be removed on or before the date specified in the contract, the parties may mutually agree to either extend the subject removal date or collapse the offer. Your agent will be able to explain the process and potential implications.

Condos and Townhomes

Offers on “Strata Title Properties” can be more complex by nature than those on detached properties. Although a buyer and their agent may be looking to purchase one strata lot within a building of strata apartments, they rely on receiving specific types of information relating to the strata lot, the building and the strata corporation. Often, this information comes from the listing agent, the property management company (if applicable), and/or the strata corporation itself.

When buying an apartment or townhome, typically the same five common subject clauses are used as with detached homes plus subjects related to the review and approval of documents containing information about the strata corporation and the strata lot.

These include:

  • Form B
  • Minutes
  • Financial Statement
  • Strata Plan
  • Consultants Reports
  • Depreciation Report

As with detached homes, subject conditions on attached homes must benefit a particular party to the contract (either buyer or seller) and must be removed by a specified date. Upon successful removal of all subject clauses, the contract becomes subject free. If subject conditions cannot be removed on or before the date specified in the contract, the parties may mutually agree to either extend the subject removal date or collapse the offer. Your agent will be able to explain the process and potential implications.

This is by no means an exhaustive list, but it will give you an idea of some of the additional costs associated with a real estate transaction.

Assignment of contracts

A contract assignment occurs when a buyer transfers the contract to buy property to someone else before the completion date.

For assignments of pre-sale contract The Real Estate Development Marketing Act allows an assignment to occur. The developer’s contract of purchase and sale will outline if the developer’s approval is required and any costs they may charge for the Assignor (original Buyer on the contract).

For assignments of non pre-sale contracts new rules came into effect in The Real Estate Services Act on May 16, 2016. They require the licensed agent to alter a clause in the contract of purchase and sale, add a clause regarding assignments and use the required Notice to Seller Regarding Assignment Forms to produce an offer that allows the buyer to possibly assign the contract to another party at a future date.  As a buyer, it is important to discuss possible assignment scenarios with your agent when writing your contract of purchase and sale.

The amendments further provide that licensees (original buyers agent) must take certain steps if they are involved in a potential real estate transaction where an offer to be presented to the seller does not include the Standard Assignment Terms. These requirements are further discussed below.

For Real Estate Services Act regulated assignments the Real Estate Council’s form entitled Notice to the Seller Regarding Assignment Terms must be used if that offer does not include one or both of the following terms (Paragraphs 20A & B of the standard Contract of purchase and Sale):

  • A term that provides that the contract must not be assigned without your written consent;
  • A term that provides that you are entitled to any profit resulting from an assignment of the contract by the buyer or any subsequent assignee.

A Buyer (Assignee) is advised to obtain legal advice before entering into an assignment of a contract. Should the Assignee not complete the purchase then the Assignor is responsible to complete the purchase under the terms of the original contract of purchase and sale.

Understanding Market Conditions

It is important to know what the current market conditions are in the area you are looking. Here are some terms to help get you acquainted.

Seller’s Market

A Seller’s Market is considered a “hot” market.  This type of market is created when demand is greater than supply—that is, when the number of buyers exceeds the number of homes on the market.  As a result, these homes usually sell very quickly, and there are often multiple offers.  Many homes will sell above the asking price.

Buyer’s Market

A Buyer’s Market is a slower market.  This type of market occurs when supply is greater than demand, when the number of homes exceeds the number of buyers.  Properties are more likely to stay on the market for a longer period of time.  Fewer offers will come in, and with less frequency.  Prices may even decline during this period.  Buyers will have more selection and flexibility in terms of negotiating toward a lower price.

balanced market

A Balanced Market is one where supply equals demand, the number of homes on the market is roughly equal to the number of buyers.  Buyers will have a decent number of homes to choose from, so sellers may encounter some competition for offers on their home, or none at all.

Remember, an agent is trained to provide clients with this information about their local market, helping you make the most informed decision during the buying or selling process.

 

Overview of the Closing Process

What HAPPENS AT THE LAWYER or NOTARY OFFICE?

Several days before the completion date you will meet with your Lawyer or Notary to sign the documents for the purchase of your property.  You will need to bring two types of identification with you such as a driver’s licence and passport. Once your identity has been verified your legal representative will review all of the documents and have you sign them.

One of the documents they will provide you is the Statement of Adjustments showing all the costs relating to the transaction.

These are the things that happen on closing day:

  • Your lender will give the mortgage money to your lawyer/notary.
  • You must give the down payment (minus the deposit) to your lawyer/notary. You must also give the remaining closing costs.
  • Your lawyer/notary pays the Seller and registers the property in your name

Under the Torrens System of Land Transfer your legal representative will ensure only non-financial charges transfer with the property such as:

  • covenants
  • zoning designation
  • rights-of-way
  • easements

When the property is registered in your name you will have indefeasible title in fee simple, i.e. land ownership.  This will have been registered at the Land Title Office by your lawyer/notary.

When do you take possession and get keys?

The contract of purchase and sale will have a possession date which will allow you access to your property. This usually occurs at noon, or at 1pm for tenanted properties, or as otherwise stated in the contract of purchase and sale.

Once your property is registered at Land Title Office you are the new owner!

Your agent’s brokerage will notify your agent that the property has registered and they will be able to hand over the keys to you on possession.

On possession day do a walk-through of your property with your agent to make sure it is in the condition that you originally viewed it in. Also check all the systems such as plumbing, electrical, HVAC, appliances, etc. to ensure they are in proper working order. Now you can enjoy your new home!

Useful Real Estate Terms

 Adjustment Date

The date agreed to by both parties for the allocation and adjustment of property taxes, interest, utilities, rents and other appropriate items. This date is usually the same as the possession date.

Agreement For Sale

The Seller agrees to sell the property to a Buyer on credit terms. Normally the Seller carries the financing himself and the Buyer arranges a payment with the Seller. The Seller remains on the title as registered owner. Very similar to a first mortgage. The agreement for sale is the registered contract.

Amortization

The paying off of debt with a fixed repayment schedule in regular installments over a period of time. Consumers are most likely to encounter amortization with a mortgage or car loan.

Appraised Value

A report made by a qualified person giving an estimate of value, based on experience, comparable sales and pertinent data relating to the property.

Assessed Value

Used for the purpose of assessing property tax by a local municipality, this property value is assessed by the B.C. Assessment Authority.

Chattels

Personal property not attached or affixed to the land or property. Also refers to appliances, etc. in a rental property.

Co-Op Suite

A co-op is a company formed to create and operate defined living spaces within a building. A Buyer purchases shares in the company that normally owns the building. The purchase of these shares usually entitles the owner to the sole use of a suite in a co-op building through a long term lease or shareholder’s agreement.

Completion Date

The date on which the Seller is entitled to the net proceeds of the sale and the Buyer is entitled to the transfer of the title. Real Estate commissions and legal fees are paid out at this time.

Deposit

Money taken at the time of acceptance or upon final subject removal as a sign of good faith. This money is held in a real estate company’s trust account pending the completion of the purchase and are credited towards the purchase price.

Fixtures

All things attached to the property or growing on it. To avoid this dispute, specify in writing any items that will not be included in the sale of the property. Better yet, remove them prior to offering the property for sale.

FSR

Floor Space Ratio. A City zoning term that defines the maximum allowable square footage to be built or occupied in a building in relation to its lot size.

Gross Taxes

The total amount of taxes owing as per your B.C. Assessment and municipal property tax bill before any deductions are made.

High Ratio Mortgage

A situation where the loan exceeds 80% of the appraised value (or the selling price – whichever is lower). This loan must be insured by C.M.H.C. (Canadian Mortgage and Housing Corporation), G.E. Capital (Mortgage Insurance Canada) or other insuring agencies for a fee.

Market Value

The highest price paid for a piece of property which has been exposed ‘for sale’ in the open market allowing a reasonable time to find a Buyer.

Net Taxes

The amount owing after allowable deductions made such as homeowners’ grant and senior citizen’s deductions.

Offer

Offer to Purchase. A promise made by one party, the offeror, to another party, the offeree. A legal agreement which offers a certain price for a specified piece of real estate.

Possession Date

The date the Buyer is entitled to possession of the property at twelve noon that day, subject to existing tenancies.

Property Disclosure Statement (P.C.D.S. or P.D.S.)

The Property Disclosure Statement is designed to protect all persons involved in real estate transactions. It provides a written record of representations made and, as importantly, not made, allowing the Buyer the opportunity to review the condition of your property so you’re less likely to overlook a defect. Disclosure can make the property more attractive to potential Buyers who often require completion of this form to reduce any risk of misunderstanding.

 

Copyright © 2018 Macdonald Real Estate Group Inc.

All material in this document, unless otherwise stated, is the property of Macdonald Real Estate Group Inc.  Copyright and other intellectual property laws protect these materials.  Reproduction or retransmission of the materials, in whole or in part, in any manner, without the prior written consent of the copyright holder, is a violation of copyright law.

 

 

November 2018 Real Estate Newsletter

NORTH DELTA, SURREY, LANGLEY AND FRASER VALLEY REAL ESTATE MARKET STATISTICS – NOVEMBER 2018

Here are the latest real estate market statistics from Macdonald Realty on North Delta, Surrey, White Rock, Langley, and Fraser Valley listings and sales in November 2018.

North Delta

In the North Delta market, the benchmark sale price was $913,200 for detached homes. At the end of the month, there were 175 active listings and 41 sales.

The condo market had 8 sales and 38 active listings. The benchmark sale price was $403,300.

Townhomes featured 3 sales, 27 active listings and a $599,500 benchmark sale price.

It’s a buyer’s market for townhomes.

MarketHotSheet_November_2018_NorthDelta

North Surrey

In November 2018, there were 33 sales of detached homes and 327 active listings in North Surrey. The benchmark sale price was $979,800.

The condo market had 82 sales and 378 active listings at the end of the month. The benchmark sale price was $413,700.

In comparison, townhome sales were 10, active listings were 75 and the benchmark sale price was $588,500.

It’s a buyer’s market for homes and townhomes.

MarketHotSheet_November_2018_NorthSurrey

Surrey – Central

In the Surrey – Central market, there were 65 sales of detached homes and 547 active listings at the end of the month. The benchmark sale price was $1,019,500.

In comparison, the condo market had 19 sales, 124 active listings, and the benchmark sale price was $432,000.

Townhome market featured 49 sales, 352 active listings and a $578,300 benchmark sale price.

It’s a buyer’s market in Surrey Central.

MarketHotSheet_November_2018_SurreyCentral

White Rock/South Surrey

There were 60 sales, 565 active listings, and a $1,391,100 benchmark sale price for detached homes in the White Rock/South Surrey market.

The condo market featured 40 sales, 254 active listings and a benchmark sale price of $501,100 at the end of the month.

In comparison, townhome sales were 36, active listings were 220 and the benchmark sale price was $659,800.

It’s a buyer’s market in White Rock South Surrey.

MarketHotSheet_November_2018_WhiteRockSouthSurrey

CloverdaleMarketHotSheet_November_2018_Cloverdale

Langley

In the Langley market, the benchmark sale price was $1,008,600 for detached homes. At the end of the month, there were 397 active listings and 63 sales.

The condo market had 70 sales and 271 active listings. The benchmark sale price was $415,500.

Townhomes featured 71 sales, 214 active listings and a $496,800 benchmark sale price.

It’s a seller’s market for condos and townhomes.

MarketHotSheet_November_2018_Langley

AbbotsfordMarketHotSheet_November_2018_Abbotsford

MissionMarketHotSheet_November_2018_Mission

Looking for more information about the real estate market in specific neighbourhoods in Surrey, Langley and Fraser Valley

Macdonald Realty has offices in North DeltaWhite Rock/South Surrey, and Langley.  Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.

MLS® Home Price Index (HPI) Benchmark Price

Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.

This blog post is based on market data provided by the Fraser Valley Real Estate Board (FVREB) www.fvreb.bc.ca

Buying a Home

Buying a home is both an exciting and scary venture. With the status of homeowner comes the costs of maintaining the property you are now tied to. If you are going to take on a lot of added responsibility it is your right to be selective when choosing a home. While your search may start out with enthusiasm, it can quickly grow tiresome as their are so many listings to browse.

Our question would be: why do all of the work when there is someone willing to help? The process goes a lot smoother with more that one set of eyes scouring the housing market for your perfect property. This is where our team truly shines, as we make it our duty to get our clients the keys to their ideal home! Simply tell us what you are looking for and we will go to work searching through our database of available homes. From there, we will give you a list  that most accurately match your requirements. With a list that is narrowed down to a handful of properties, your decision will be much more manageable.

Whether you are a first time buyer, or it has just been a few years since you’ve last bought a home, the process of buying a home can seem like a bit of a mystery.  I would be happy to sit down with you to walk you through the home buying process and the key milestones we will hit along the way.

home buying process infographic

 

Selling a Home

Selling a home can be a difficult task for even the most seasoned of sellers. There is so much that goes into the process of placing a property on the housing market. First, the owner needs to get the home in condition to present it to potential buyers. From there, taking proper pictures that display your residence in its best light is a must. These are the images that are going to grab the attention of those that are searching online through all the homes available for sale. Unfortunately, even the best pictures don’t ensure that your property will be seen. After all, you are competing with your neighbours for the attention of a select few buyers.

As with any competition, it is important to find an edge. This is where an experienced REALTOR® can be your ace in the hole. With an extensive list of interested buyers, as well as the knowhow to market your listing to a greater audience, real estate agents make it their mission to get the most money for your property. When you have a team of skilled agents on your side, the competition gets left in the dust!

I would be happy to sit down with you and explain the home selling process and all that I can offer to maximize the exposure of your home to potential buyers.

sell your home infographic

 

Introducing my global network… LeadingRE

Did you know that while I’m a real estate professional here in our community, I’m also a part of a global network of leading independent brokerages with over 120,000 real estate professionals who are experts in their own communities?

That means that if you ever need to buy, sell or invest in real estate elsewhere in Canada, the US or around the world just ask me to make an introduction to one of these local experts.  My company has helped clients successfully buy or sell in 9 provinces (including Nunavut!), over a dozen states (including California, Arizona and Hawaii), and internationally in countries like Mexico, England, France and China.

As we like to say… “I’m Local. I’m Global.™ 

Leading Real Estate Companies of the World (LeadingRE) is the home of the world’s market-leading independent residential brokerages in over 50 countries, with over 500 firms and 120,000 associates producing over one million transactions valued at $321 billion annually. Our by-invitation-only network is based on the unparalleled performance and trusted relationships that result in exceptional client experiences.  Watch this short video for an introduction.

YouTube Preview Image

Increasing Your Property’s Value

The most common question to a REALTOR® when looking through a home is, “what improvements can I make that will increase the value of my property?”

What is your time and effort worth? Too many times we meet people who are eager to do the work, but don’t consider the buyer’s perspective. Some people may pay more for some features that won’t matter to others. Consult a professional to determine if the improvements you choose will be worth your money and will give you a return. Make sure this number is worth your time.

Increasing Your Property’s Value

CURB APPEAL
This can range from buying a few flowering planters for around the front door to substantial landscaping work. A fresh coat of paint on the front door, and improved lighting can make a big difference for a relatively small expense.

PAINT
Interior and exterior. Use neutral or modern colours and unless you are a pro, avoid creative patterns. No murals.

FLOORING
Upgrading from carpet or lino to hardwood and tile makes an enormous difference. Focus on look rather than price, since many buyers cannot tell the difference.

KITCHEN
This is usually the focal point of the house. Open concepts and modern colours are key. Consider refinishing existing cabinets and just replacing the counter-top to save money.

BATHROOMS
Freeing up room in the bathroom makes a big difference. Pedestal sinks can work well for this. Also modern looking tile goes a long way.

FLOOR PLAN ALTERATION
People like to entertain and see their guests. When you enter an open concept home it also feels much larger. Furthermore, three small bedrooms may work better as one large master and a spare.

PROFESSIONAL BASEMENT DEVELOPMENT
Please only use a builders, contractors or other professionals. Poor workmanship will be adjusted for at the time of the sale. You can do some work yourself, but leave the finishing to the pros.

The Local Housing Market

Whether you are buying or selling real estate, it is important to know the state of the local housing market. This way, each side knows where the advantages lie. For sellers, the market is at its best when there are fewer homes up for grabs. Less competition makes for an easier time getting your property viewed by the right individuals. On the flip-side, buyers will find top deals when there is a saturation of listings. When sellers are competing for your business, you end up the winner!

The housing market can give us a list of relevant information, such as: the number of homes for sale, the average selling price for real estate in the area, and the amount of homes sold during a specific period of time. With this data, both buyers and sellers can formulate a strategy on when to make a move. Perhaps more homes are sold during the summer. Maybe the average cost is lowest at the beginning of the year. Whatever the housing market shows, it is important to take the information into consideration.

If you would like some current statistics on the housing market in your neighbourhood, please contact me or sign up to receive my monthly email newsletter.

 

Luxury Homes Collection Magazine Winter 2016

The winter edition of the Luxury Homes Collection Magazine features some exceptional homes from across British Columbia that are part of the Macdonald Realty Luxury Program. With a diverse collection of properties, from downtown Penthouses to island waterfront cabins there is plenty to see.

Featured in this edition is a message from the President of Luxury Portfolio International®, Paul Boomsma, our network affiliate partner on the global brand. Their LuxeTrends® gives us a look into the future of exploration, innovation and relaxation, with touchscreen fridges and underwater resorts.

Winter 2016 Luxury Homes Collection Magazine

Click magazine cover to view

Gracing our pages this edition are some beautiful locations, with stunning views of the Okanagan vineyards, Georgia Strait beaches, and Squamish mountain ranges. Our cover story denotes the growing luxury properties in the Squamish Valley with 10 properties featured from the region. The Sea-to-Sky corridor is fast becoming a haven for city escapers, first time homeowners and outdoor enthusiasts looking to find affordable luxury and plenty of gorgeous scenery. You can always see our latest luxury property listings online at luxuryhomescollection.ca 

Click Here to View the digital edition on your computer or tablet