FEATURED HOME OF THE WEEK

Amazing value for an investor or 1st time buyer.

#310 150 E CORDOVA STREET
1 bedroom | 1 bath | 525 sq ft

Newer concrete condo in mint condition in Downtown under $450K!?! Super efficient, centrally located true 1-bedroom home (desired A2 floorplan) at InGastown by PortLiving that features: polished concrete floors, European integrated kitchen appliances incl. gas cooktop, wall oven, quartz countertops, Juliet balcony, in-suite laundry, great storage and a sleek bathroom.

The modern building boasts an amazing view rooftop amenity space with outdoor kitchen, bike storage, & a secure storage locker for this unit.

 

Located steps from trendy restaurants and bars, high speed transit, crab park, car sharing and anything your heart desires – 98 walk score! Book your private showing today! Pets & Rentals allowed.

CLICK HERE TO VIEW LISTING

 

If you’re interested in learning more about how to sell your home, click here to access our selling process. Of course, we’re always available for a call or a coffee to chat further about how we can help you sell your home!!!

info@leeandpete.com
604- 729-5646

MARKET UPDATE- OCTOBER 2019

Home buyer activity increases in October

Home buyer demand returns to historically typical levels in Metro Vancouver.

Total home sales in the residential sector for October 2019 totalled 2,858, representing a 45.4% increase from October 2018 sales of 1,966 homes sold. Sales also increased 22.5% over September 2019 where 2,333 homes were sold making last month’s sales 9.8% above the 10-year October sales average.

Ashley Smith, REBGV president states, “home buyers have more confidence today than we saw in the first half of the year. With prices edging down over the last year and interest rates remaining low, hopeful home buyers are becoming more active this fall.”

On the supply side, there were 4,074 newly listed homes comprising of the detached, apartment, and attached residences. This reflects a decrease of 16.4% compared to homes listed in October 2018 and an 16.3% decrease in comparison to the 4,866 newly listed homes in September 2019.

MLS current listings are 12,236 or a 5.8% decrease compared to October 2018, whereby listings totalled 12,984. In comparison to September 2019, MLS recorded a decrease of 9%.

For all property types, the sales-to-active listings ratio for October 2019 is 23.4%. By property type, the ratio is 17.3% for detached homes, 26.2 % for townhomes, and 29% for apartments.

“The recent uptick in home sales is moving us into a more historically typical market,” said Smith. “Both sale and listing activity is trending around our long-term averages in recent months.”

Metro Vancouver benchmark price for all residential homes currently sits at $992,900 as indicated by the MLS Home Price Index composite. That is an 6.4% decrease over October 2018 and a 0.2% increase compared to September 2019.

October 2019 saw detached housing increase 47.3% (938) from October 2018 (637). Currently, the detached home benchmark sits at $1,410,500 a 7.5% decrease from October 2018 stats and a 0.3% increase compared to September 2019.

The benchmark price for apartments is currently $652,500. This represents a 5.9% decrease from October 2018 and a 0.2% increase compared to September 2019.

Lastly, Townhomes or attached homes, sales totals for September were 536, showing a 55.8% increase compared to October 2018 where 344 sales were recorded. The attached home benchmark price currently sits at $771,600 a 5.8% decrease in comparison to October 2018 and a 0.5% increase compared to September 2019.

What do these stats mean to you? Call us today and let us help you read the market for your home.

Discover if your individual neighbourhood and price band is either a Buyer, Seller or balanced market. Email us to receive the current market stats for AUGUST 2019. 

 

Get in touch with the top Vancouver real estate team to discuss the best opportunities for you in this market. We are never too busy to find the right strategy for you.

info@leeandpete.com

604- 729-5646

Preparing For The Holidays

Preparing for the holidays

We’re not generally ones who start celebrating holidays early and we certainly don’t begin to play Christmas music until at least December 1st, however, it’s not a bad idea to spend a little time in the fall thinking about and planning ahead for the holidays.

Does Christmas stress you out?

We all want to make the holidays special. There’s nothing wrong in that. But with all those get togethers getting added to the schedule, they can add to the stress level as well.

A recent survey indicated that “65% of Gen Xers reported feeling stressed during the holidays. Baby Boomers came in second at 62%, while 61% of Millennials said they felt the weight of the holiday rush.”

65% of all those studied said the financial strain associated with gift purchases is the most stressful part of the holidays.

How to best prepare?

How can we make the season less stressful? Listed below are 5 things we can do to prepare now.

1. Plan ahead.

Make a list (or add notes to a calendar) of all the things you usually need to do or want to do during the holidays, starting now through New Year’s eve. Include it all: family gatherings, church, work or community events, people you need to buy gifts for, food or gifts you want to make, meals you want to serve, parties you plan to host or attend, etc. When you’re pretty sure you got everything noted, take a look and ask yourself:

  • Seriously??? Just how realistic is your list?
  • What can you trim from the list and still have the kind of holiday season you envision?
  • Will you actually enjoy the holidays if you do everything on your list? Remember, these are holidays and that means taking time for yourself as well. You want to ENJOY this time, not stress through it.

2. Develop a holiday budget.

Think about how much money you’re willing to set aside for each person you want to give a gift to. If the budget is an issue, take steps now to avoid uncomfortable situations during the holidays.

3. Start de-cluttering.

A clean, clutter-free space helps lead to a more relaxed and peaceful frame of mind.

Starting now you can:

  • Clean out the refrigerator and pantry before it’s time to do holiday cooking.
  • De-clutter the kids rooms and find things to discard or donate. This might be a new holiday tradition of choosing gently used toys to donate to a shelter.
  • Refresh bathrooms and guestrooms that might be used by guests during holiday parties.
  • Set up your master bedroom as a refuge during the busy holiday season. (We all need a break from family members, if even for a little while,)
  • Clean out the coat closet and make space for guest’s coats.
  • Clean out a closet or make space for gifts, wrapping paper, etc., as you buy them.

4. Cook/bake ahead.

As you think about holiday meals ahead of time, are there any dishes or treats you traditionally serve that can be made ahead of time and frozen? Or things you can have in the freezer and pull out to take to a party or serve unexpected guests? You could start doing some of that now.

5. Make personal time and self-care a priority.

Include some time for yourself in your holiday schedule. Filling up every second of the holiday season with events and activities and rush-rush-rush might result in happy memories, but it might also result in exhaustion and emotional meltdowns. Focus on what’s most meaningful, and carve out time to relax and rest and savour the season’s most special times.

And, of course if you are thinking of buying or selling your home during the holiday season, that too can add a tremendous amount of stress. We are here to assist you and make that a stress free experience.

 

Get in touch with Vancouver’s top realtors to discuss the best opportunities for you in this market. 

info@leeandpete.com

604- 729-5646

Benefits of Home Staging

Benefits of Home Staging

Home staging has become an important tool in helping to sell homes effectively. At Lee + Pete Vancouver Real Estate Group, we can assist you in improving the look and feel of your home by transforming it into an attractive product for sale. Even beautifully decorated homes benefit from this transformation into a merchandised product – enhancing your home’s best features. The goal of staging is to sell your home quickly and for the highest return, by appealing to a greater number of prospective buyers.

Preparing to Sell

When your home is properly prepared, you will have a big advantage over the competition, in terms of time on the market (less disruption to family life) and selling price (more money in your pocket).

In today’s market, most buyers are looking for a bright, spotlessly clean, sunny home that they can move right into. A home in good repair will win the bid over the competition every time. Homeowners who take a stager’s suggestions to heart and dig in, are the ones who reap the greatest rewards.

Staging Benefits

You only have one chance to impress potential buyers. First impressions are formed as soon as they step inside your home and staging highlights the full potential of your property by incorporating design techniques to create a lasting first impression.

Staging you home makes it appealing to the greatest number of prospective buyers and and sets your home apart from the competition. Properties that have been staged will have a distinct marketing advantage over non-staged homes. Staging your home can maximize the selling price and minimize the number of days on the market.

Your stager provides an objective third party perception and will convey to you, tactfully and respectfully all the important issues that need to be addressed in order to prepare your property for sale

Contact us for more information about selling your home for the highest return. We would be happy to meet with you for a free home evaluation.

 

Get in touch with Vancouver’s top realtors to discuss the best opportunities for you in this market. 

info@leeandpete.com

604- 729-5646

FEATURED HOMES OF THE WEEK

Tired of cookie-cutter homes? Introducing The Heirloom. Inspired by its heritage status these 4 unique homes present the most superior craftsmanship and quality finishings. This custom detached infill home makes exceptional living possible with refined kitchens including dual tone cabinetry and large quartz island perfect to cook and entertain.

309 W 11th311 W 11th315 W 11th

  click to view – 

Elegant features of these 3 lovely homes include: heritage style wood entry doors, wide planked knotted white oak engineered hardwood throughout living, dining and kitchen, 100% New Zealand Wool carpet in bedrooms, stairs, and upper levels, two-toned custom shaker style cabinetry in kitchens, and solid quartz countertops in bathrooms.Located in the most sought after location, residents are only steps from parks, schools, restaurants & transit.

If you’re interested in learning more about how to sell your home, click here to access our selling process. Of course, we’re always available for a call or a coffee to chat further about how we can help you sell your home!!!

info@leeandpete.com
604- 729-5646

You Bought Your Dream Home. Now What?

You Bought Your Dream Home. Now What?

Getting the keys to your new home after the closing is completed is very exciting. But, there is still much a buyer should consider doing once the sale is complete.

+ It is generally a good idea to have the home or condo professionally cleaned before your move-in date.
+ Utilities may need to be turned on or transferred from the previous owner.
+ Contact the post office to change your mailing address.
+ Change the locks. (A must!)
+ Visit the local school if you plan to enrol children.
+ Act social :). No one really likes strangers knocking on their doors but use any opportunity to say hello to your new neighbours.

Settling into your new home shouldn’t be stressful and if you need assistance selling your old home, we’d be more than happy to assist you. Call or email us at any time.

 

Get in touch with Vancouver’s top realtors to discuss the best opportunities for you in this market. 

info@leeandpete.com

604- 729-5646

MARKET UPDATE- SEPTEMBER 2019

Increased demand helps housing market reach balanced territory

Home buyer demand has returned to more historically typical levels in Metro Vancouver over the last three months.

Total home sales in the residential sector for September 2019 totalled 2,333, representing a 46.3% increase from September 2018 sales of 1,595 homes sold. Sales also increased 4.6% over August 2019 where 2,231 homes were sold. Last month’s sales were 1.7% below the 10-year September sales average.

Ashley Smith, REBGV president states, “we’re seeing more balanced housing market conditions compared to what we saw at this time last year. Home buyers are more willing to make offers today, particularly in the townhome and apartment markets.”

On the supply side, there were 4,866 newly listed homes comprising of the detached, apartment, and attached residences. This reflects a decrease of 7.8% compared to homes listed in September 2018 and an 29.9% increase in comparison to the 3,747 newly listed homes last month.

MLS current listings are 13,439 or 2.7% higher than September 2018, whereby listings totalled 13,084. In comparison to August 2019, MLS recorded an increase of 0.3%.

For all property types, the sales-to-active listings ratio for September 2019 is 17.4%. By property type, the ratio is 12.7% for detached homes, 18.9 % for townhomes, and 21.9 % for apartments.

“This is a more comfortable market for people on both sides of a real estate transaction,” said Smith. “Home sale and listing activity were both at typical levels for our region in September.”

Metro Vancouver benchmark price for all residential homes currently sits at $990,600 as indicated by the MLS Home Price Index composite. That is an 7.3% decrease over September 2018 and a 0.3% drop compared to August 2019.

September 2019 saw detached housing increase 46.7% (745) from August 2018 (508). Currently, the detached home benchmark sits at $1,406,200 a 8.6% decrease from September 2018 stats and unchanged compared to August 2019.

The benchmark price for apartments is currently $651,500. This represents a 6.5 % decrease from September 2018 and a 0.4% decrease compared to August 2019.

Lastly, Townhomes or attached homes, sales totals for September were 422, showing a 53.5% increase compared to September 2018 where 275 sales were recorded. The attached home benchmark price currently sits at $767,500 a 7.2% decrease in comparison to September 2018 and a 0.6% decrease compared to August 2019.

What do these stats mean to you? Call us today and let us help you read the market for your home.

Discover if your individual neighbourhood and price band is either a Buyer, Seller or balanced market. Email us to receive the current market stats for AUGUST 2019. 

 

Get in touch with the top Vancouver real estate team to discuss the best opportunities for you in this market. We are never too busy to find the right strategy for you.

info@leeandpete.com

604- 729-5646

MARKET UPDATE- AUGUST 2019

Metro Vancouver housing market sees summer uptick in sales

Home buyer activity increased to more typical levels in Metro Vancouver throughout the summer months. 

Total home sales in the residential sector for August 2019 totalled 2,231, representing a 15.7% increase from the August 2018 sales recorded of 1,929 homes sold. Sales did decrease however, 12.7% over last month. Last month’s sales were 9.2% below the 10-year August sales average.

Ashley Smith, REBGV president states, “home sales returned to more historically normal levels in July and August compared to what we saw in the first six months of the year.”

On the supply side, there were 3,747 newly listed homes comprising of the detached, apartment, and attached residences. This reflects a decrease of 3.5% compared to homes listed in August 2018 and an 18.8% decrease in comparison to the 4,613 newly listed homes last month.

MLS current listings are 13,396 or 13.3% higher than August 2018, whereby listings totalled 11,824. In comparison to July 2019, MLS recorded a decrease of 5.9%.

The sales to activity ratio in August 2019 was 12% for detached, 18.4% for attached (townhouse) and 21.2% for condos. Overall, across all property types, the sales to activity listing ratio were 16.7%.

“With more demand from home buyers, the supply of homes listed for sale isn’t accumulating like earlier in the year. These changes are creating more balanced market conditions,” Smith said.

Metro Vancouver benchmark price for all residential homes currently sits at $993,300 as indicated by the MLS Home Price Index composite. That is an 8.3% decrease over August 2018 and a 0.2% drop compared to July 2019.

August 2019 saw detached housing increase 24.5% (706) from August 2018 (567). Currently, the detached home benchmark sits at $1,406,700 a 9.8% decrease from August 2018 stats and 0.7% decrease compared to July 2019.

The benchmark price for apartments is currently $654,000. This represents a 7.4 % decrease from August 2018 and a 0.1% increase compared to July 2019.

Lastly, Townhomes or attached homes, sales totals for July were 409, showing a 21.4% increase compared to August 2018 where 337 sales were recorded. The attached home benchmark price currently sits at $771,000 a 7.8% decrease in comparison to August 2018 and a 0.2% increase compared to July 2019.

What do these stats mean to you? Call us today and let us help you read the market for your home.

Discover if your individual neighbourhood and price band is either a Buyer, Seller or balanced market. Email us to receive the current market stats for AUGUST 2019. 

 

Get in touch with the top Vancouver real estate team to discuss the best opportunities for you in this market. We are never too busy to find the right strategy for you.

info@leeandpete.com

604- 729-5646

BUYING A HOME IN THE FALL

Buying a home in the Fall

Throughout most of Canada, and Vancouver in particular, spring is generally considered to be the peak real estate buying season. It turns out however, that not only is fall a great time to buy, it might be the best time of year to buy a home.

A lot of people see Labour Day as the beginning of a new year – when the summer holidays are over and everyone goes back to school and back to work. That’s when the real estate market picks up, as buyers who are planning to move want to be done by the holidays. Some are also driven by the idea that they want the tax benefits of home-ownership this year rather than next year.

The Fall buyer mix typically consists of:

  • First-time homebuyers 
  • Move-up buyers
  • Buyers downsizing/retiring
  • Investors
  • Vacation home buyers

Benefits of buying a home in the Fall

1. Motivated sellers want to close by year-end. Many buyers may find that sellers are looking to make a deal so they can close prior to December 31st and get that tax break.

2. Lower prices. Many sellers put their homes for sale in the spring. Some homes have lingered on the market resulting in a series of price reductions.

3. Less competition. Everyone puts their homes up for sale in the spring. The market is packed with new offerings. Green grass, beautiful flowers and crystal blue waters of open pools all add to the ideal. However, in the Fall, it is much easier to find that hidden gem.

Why buy a home now?

During peak selling months, everyone is busy. In the fall months however, lenders, inspectors, title companies, moving companies, etc. all experience a lighter schedule and have much more time and energy to focus on helping you.

Most sellers  are worn out after the summer selling season and now the have to contend with the fast approaching holiday season. If they want to move and get settled in prior to Christmas, they’ll have to get moving, fast. This makes it a perfect time for you to buy.

 

Get in touch with Vancouver’s top realtors to discuss the best opportunities for you in this market. We are never too busy to find the right strategy for you.

info@leeandpete.com

604- 729-5646

BUY A FIXER-UPPER OR A TEAR-DOWN?

BUYING A FIXER-UPPER OR A TEAR-DOWN

There are a number of mature neighbourhoods in the Greater Vancouver Area that currently have quite an inventory of homes that are either being rebuilt or are being extensively renovated. So what are the advantages of buying a fixer-upper and what are the advantages of buying a tear-down?

One of the great things about buying a fixer-upper is that every time is the right time; it is not dependent upon whether the real estate market is hot or cold. Real estate properties that need some tender loving care can be a real bargain during any real estate climate. The best fixer upper is the home that everybody will covet when it is fixed up, but few can see past its imperfections to see the potential.

Location, location, location.

Location drives saleability. Buying a fixer-upper or a tear-down can be a wonderful opportunity to acquire property in a neighbourhood that is expensive. For some, it is the only way. Fixer-uppers are usually on terrific lots that are big, wide, private, or otherwise scenic. So usually, the selling feature of the property is the location and the lot itself. Those details, obviously, can’t be changed. The home’s interior and exterior can.

Buying a fixer-upper or a tear-down is a great way to obtain a custom-made home. Whether you are the designer and builder, or whether you hire an architect and a general contractor, a fixer-upper is a wonderful way to create your dream home. Depending on how much work needs to be done, these homes open a world of opportunity to choose your flooring, your kitchen, your bathrooms, and much more. For that reason, fixer-uppers can provide much pride and satisfaction.

In some cases, a buyer may just be interested in the land on which a house sits, but he/she may not want the house itself. In others, the house may be condemned and has to come down anyway. If you find yourself interested in a tear-down, you need to know that there are several special considerations that need to be made. Buying a tear-down is a lot different than buying a traditional property. Look below to pick up a few tips that I’ve learned through the years.

Can You Get a Residential Loan for a Tear-Down?

To have the smoothest experience possible, you’re going to want to get a residential loan for the property that you’d like to buy. However, that’s not always possible with a tear-down. If the house itself is condemned, the land is considered to be unimproved. No house is technically on the property, so a residential loan is out of the question. That’s a problem because your other financing options are likely to require higher down payments and will probably have higher interest rates as well.

Leave at Least Part of the Structure Intact

If the house that you’d like to tear down isn’t condemned, you should be able to get a residential loan. However, you might not want to tear it down completely. If you do, you will have to deal with getting new permits, and the process can be extremely complex and confusing. One way to get around it is by leaving at least a few walls standing. In that case, you will technically be rebuilding the house. The permits shouldn’t be as difficult. If the foundation is still in good shape, you can save time and money by using it for your new house too.

Build the New House Before Tearing Down the Old One

Another possible way to simplify the process is by building your new house before tearing the old one down. This will eliminate issues regarding financing, but it could prove to be impossible. Is there enough room to build another house on the same land? If you want the new house to be on the site of the old one, that will be an issue too.

 

Get in touch with Vancouver’s top realtors to discuss the best opportunities for you in this market. We are never too busy to find the right strategy for you.

info@leeandpete.com

604- 729-5646

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