It should be no surprise that rectangular buildings or square shaped condo towers tend to make for much better floor plans. Recently I've noticed some developers and architects have been experimenting with unusual shapes to the exteriors of their buildings by using round shapes or sharp angles that jet in and out. Now, don't get me wrong I'm all for architects and developers FINALLY starting to get a bit more adventurous with their designs. Just drive around downtown Vancouver and you'll see that most of the condos look pretty much the same. Often when I'm working with clients from out of town that is the first thing they will say to me..."they all look the same". However, some of these developers have not given much consideration ...

I can't stress this more and whenever I work with a new client I always make sure that they understand.  Any real estate purchase should have at least a 7-10 year horizon. More... much more if possible. I’m not a fortune teller, I'm a Realtor, no one can tell you what the price of Vancouver RE is going to do in the short term (1-5 years) but I can tell you that RE when properly purchased (this is why you need an experienced full time Realtor), in a good location and held for the long term (10 years or more…again the longer the better!) will take very good care of you. In the short term (1-5 years) who knows, it could go up or you could be down 25%, however RE when held for awhile is very forgiving. So always try and buy with a long ...

This is a prime example of what I have been saying for years. The Royal Bank has done a 180 degree turn. That housing bubble they were calling for in Toronto just last month is off the board. Now everything looks fine and Toronto buyers should have no problem absorbing that entire new condo inventory coming on line in the next few years. Don't worry the report on Vancouver is on the way too. This is a classic example of why you should never listen to the short-term speculation about real estate markets and always focus on the long-term values of owning a home. What prices do in the short term don't matter - it's your home.  You're not a speculator or gambler, it's where you and your family live. Stay focused on the 3 criteria you s ...

I'm starting to see bonus commissions being offered again by developers on some of their pre-sale projects. These come and go as the market does. When the markets hot you don't see them but when the market for condos starts to slow like we’re experiencing now...Out they come! These bonus commissions are cash incentives offered to agents on top of the regular commission if they bring a buyer to the developer. And yes you heard right I have seen a new Mercedes-Benz offered. Personally when I see a bonus offered I immediately think one of 2 things: 1) The unit is overpriced! or 2) there must be something wrong with the unit (ground floor overlooking the dumpster or into a brick wall, above the parking entrance etc). As a Realtor I hav ...

Our Finance Minister just rolled out a second phase of new mortgage changes. I don't think they are going to have much of an effect on the overall market. They are really targeted towards that first time buyer who is trying to squeeze every last penny out of his qualification in order to buy that home. The 2 main changes focus on high ratio mortgages, which are down payments that are less than 20%. Firstly, the maximum amortization period is now 25 years down from the previous 30 years. Secondly, the maximum loan value is capped at 1 million. With a conventional mortgage (20% or more down) you can still choose 30 year amortization and of course there is no limit on what you can borrow based on your qualification.I think these chang ...

Selling your principal residence and renting because you've been watching the doom and gloom on the news and listening to the arm chair quarterbacks who know very little about Real Estate is NOT a good idea. You're playing with fire in my opinion. Over the past 20 years that I've been involved in Real Estate, I have seen this strategy backfire most of the time. Why on earth would you speculate with your principal residence?!. You need a place to live, it's the best tax shelter we have these days and real estate is a long term commitment. Who cares what the market does year over year. Always think long term. So you're going to rent for a few years and then buy back in......Sure you are. I bet you're going to time the market right at ...

Even though the official numbers from the Greater Vancouver Real Estate Board say we are at the bottom end of a balanced market I feel, based on the current level of inventory and the slowing sales numbers that we have pretty much been in a buyer's market since this past winter. I think it's only a matter of time before this becomes official. Homes and condos are still selling and in some cases desirable properties in good areas are selling in a matter of days and sometimes with multiple offers. The homes that are selling in a timely manner these days are not only priced right but they also show right. If an agent tells you they can have your home listed and on the market tomorrow they are not doing their job. If you want a quick s ...

Location...it's the golden rule of Real Estate. It's been around forever and it still holds true today more than ever. In good times (like we've had the past decade) where prices are increasing year over year everything sells with ease. Busy street?... no problem. Under a bridge?...no problem. Beside a bus loop?...SOLD! But when markets start to slow and we get into a buyers market with plenty of competing properties, if your home is not in a desirable location you're going to take a hit in price!. Driving around Vancouver and Richmond these days I can't help but notice the poor locations of some of the new condo developments that are currently under construction. I guess it should be no surprise we have been building condos at a v ...

One of the best and cheapest ways of adding value to your home is through quality landscaping. Curb appeal is vital in forming a positive first impression. Many buyers will not even bother looking at the inside of a home if it does not look appealing from the curb. Here are a few things I recommend:- Spruce up or add some outdoor containers. They add interest to patios, decks and doorways where would-be buyers enter the house. - Touch up the mulch and topsoil in your planter and garden beds. It makes the color of the flowers and plants really pop. - Trim and shape all overgrown trees and shrubs and mow and edge the lawn every week. All these things cost very little and can easily add $1000's to your selling price. More importantly ...

If you've been reading the newspaper or watching the news you may have noticed a lot of so called "experts" and "analysts" calling for a real estate price correction in the Lower Mainland. Many of these so called experts have been calling for a correction for the better part of a decade now. They said Vancouver was in a bubble and it was going to burst. Unfortunately, many people listened to them sold their homes and rented while waiting for the bubble to pop; but instead missed out on hundreds of thousands in equity... ouch! One of these days they are going to get it right. Markets don't go up forever and Vancouver is long over due to take a breather. How much? Who knows many are saying 10-20%  (which is normal).If people want to ...