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Real Estate in the Time of Covid: April sales hit 38 year low

May 11th, 2020

If you have been following the news, you have likely heard the doom and gloom regarding our current "Covid Market". It is true that our Spring Market is gone and has been replaced with a much less cheery Covid Market. However the numbers at first glance do not tell the whole story.

The numbers show that:

-sales in April 2020 were down almost 40% (39.4% to be exact) when compared ...

Re: To Video or Not to Video, that is the question...

April 24th, 2020

Over the past 2 weeks I have had 2 people ask me whether we should be posting videos for our properties now that Covid-19 is restricting showings to a certain extent. This is a great question and I assume if 2 people are asking it, 200 are likely wondering! So here is the answer.

I used to do videos for all of my listings...for years.....That was until I attended a course at the annual USA ...

Response to Questions about my Covid-19 Article

March 27th, 2020

Hi,

I would like to respond to some very valid questions I have received in response to my article earlier regarding how we will handle our business during the Covid-19 crisis.

I personally believe that we would be well served to not only do physical distancing (and quarantine for some of us!) but to have a complete lock down of our country right now (other than essential serv ...

Re: Covid-19 and Real Estate

March 24th, 2020

I thought I would provide some information about how Covid-19 is being addressed in our real estate business.

I have just returned from repatriating my children from Nicaragua to Canada and am now in self isolation for 2 weeks.  Obviously, concern over the spread of the Covid-19 AND it's impact on absolutely everything is very real and cannot be ignored.  While we hope the world continues on ...

Supply and Demand: Results show January and February are great selling months!

February 5th, 2020
January has started off the year with a bang.  Home sales activity (not to be confused with prices) is WAY up as compared to last January.
Sales were up a whopping 42.4 percent from where they were in January 2019 and 22.1 percent from December 2019. The number of homes for sale in January was 20.1 percent LESS than last January-a good thing for sellers. The number of listings this past Janu ...

Assessed Value vs. Market Value: Don’t Panic-they are NOT the same!

January 7th, 2020

Assessed Value vs. Market Value:  Don’t Panic-they are NOT the same!

Every year around this time, I receive calls from people asking what their property assessments mean. This year, because most assessments have decreased A LOT, I am receiving even more calls than usual. I am more than happy to discuss particular circumstances (read: talk people off the ledge!) however for the benefit of tho ...

Sales up....Prices are not...BUT things have improved for sellers!

November 27th, 2019
Sales up....Prices are not...BUT things have improved for sellers!
 
Over the last few months, we have seen a dramatic improvement in the market. Homes that had been sitting for quite some time suddenly sold; new listings are also selling very quickly in many cases. Recently, we had 3 homes sell after the first weekend: 2 at OVER ASKING and one at FULL PRICE. None of these homes were priced ...

Housing Market Update October 2019

November 4th, 2019

October was a great month (relatively speaking) for real estate.  After months of sales below the 10 year average, the last few months have been gradually improving and in October the sales for the region were finally above the 10 year October average. When compared to last October, sales were up over 45%  and sales were up 9.8% over the 10 year average.  That is a significant improvement.

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Sales are up...prices are not...

October 23rd, 2019

Sales are up...prices are not...

 

Over the last few months, we have seen a dramatic improvement in the market.  Homes that had been sitting for quite some time suddenly sold; new listings were selling quickly; AND we had 3 homes sell after the first weekend-2 at OVER ASKING and one at FULL PRICE. None of these homes were priced low and all sold at much higher prices than expected. The numbe ...

Market Update: September 2019

September 16th, 2019

Market Update: September 2019

The last couple of years have not been great for sellers of real estate....nor for anyone who works in and around real estate! Government interventions have had a significant impact. In Vancouver we have seen all levels of government take action to slow the market; in the rest of the Province interventions have come from the federal and provincial governme ...

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