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Home sales decline below long-term averages and inventory remains low   Inventory remains low in Metro Vancouver* while home sales dipped well below monthly historical averages in January. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,022 in January 2023, a 55.3 per cent decrease from the 2,285 sales recorded in January ...

So we just did a video for the Stats of January and here are a few things to note.  -The sales ratio in the Richmond BC area is at 8% for single family homes.  This represents a 30% drop in the amount of sales compared to December. -Most of the sales in the Richmond Area for single detached fall in the range of 1.25 to 1.5 million dollars.-The most popular area in the Richmond area for single ...

With most of the buildings lifiing their exisitng age restrictions, the popualr question that i have been getting is what will happen to the market value of my property if the building decides to turn into a 55+ complex.   At this time frame, i'd like to look at a couple of recent data from 2 buildings: Queens Gate which is on General Currie and Sharon Manor on Granville, which are the onl ...

Hey everyone, Just wanted to send this message to few of the people i've talking with.  The reason why you received this video is because we've talked about real estate in one way or another.   So this message is to outline some new things that came across the real estate industry thats pretty much brand new to 2023.  First, the change of strata bylaws on two major sections:1. stratas ar ...

Rising mortgage rates brought uncertainty and caution in 2022   After seeing record sales and prices during the pandemic, Metro Vancouver’s* housing market experienced a year of caution in 2022 due to rising borrowing costs fueled by the Bank of Canada’s ongoing battle with inflation. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region t ...

So you;re about to receive you r property tax assessment in the mail, or if you dont want to wait or you don't receive it, you can look it up by googling "BC Tax Assessment" Here's a few quick things to know about your assessment.1. This assessment was conducted in July, which doesnt represent the current market2. This assessment is primarily for tax purposes.  Even though theyre for tax pur ...

So, in the start of 2023, BC will be introducing this new thing called "The Cooling Off Period." This was designed to protect buyers by giving them a 3 day period to rescind their accepted offer on aproperty.  This was a reaction because of how many subject free offers were being thrown around in the marketplace, and this is what buyers had to be able to compete in an uber competive market.  ...

The Family First Real Estate Business Plan for 2023 is finally done! (better late than never) We've been working on this project for weeks, but why is this important? Our annual business plan include: -a schedule to to keep our past clients informed on what's happening in their neighbourhood and their investment -a plan that helps our clients understand annual trends -educating ...

In early January, you will be receiving yourproprty tax assessment for 2023. The information in the following video has helped answer many common questions that people had about their property tax assessment. Please feel free to reach out if you have any further questions we can answer for you! Questions such as:What are assessments based on?What is the purprose of your tax assessment? ...

Home sale and listing activity continue trending below long-term averages in November   While typically a quiet month of market activity based on seasonal patterns, November home sale and listing totals lagged below the region’s long-term averages. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,614 in November 2022, a 52. ...