Should i renovate my property to make it more attractive?  And will i make more money if I put x amount of money? 

So, why dont we take a look at that for a moment.  

First of all, lets dismiss an urban myth  back when the market was hot, that if you renovated the kitchen or a bathroom, that there was a return on investment if you did so. 

Well, the market was going up anyways, so yes, people got a higher price but was it the market shift or was it the improvements? And lastly, what would you have netted if you didnt spend money on improvements? 

Ok so you're thinking of doing improvements before you put your house on the market? 

The answer to that is that your REALLY need to know your numbers before you make a decision, and here are a series of things to be looking for:

How much you're looking to spend

How long will it take

What the market loooks like today, and where the market is going

So, why don't we use some realistic numbers in todays market.

Lets say your townhouse is worth 800,000 dollars. 

And you dont like the way the floors and the kitchen looks so, lets say a reno cost of 20,000.

Realistic time from the beginning of planning to have everything done and photo ready?  1 month, but up to 2 months.

So, here comes the market numbers: 
In the last 3 months, the market for attached properties  went down 4%
So, by the time you're ready to put your property on the market, your 800,000 now has a value of 784,000 when you list, with maybe a little bit more to sell a more turnkey home....but who knows how much more. 

Oh, but you also have days on the market, where the average days on the market has been 40 days for townhomes. Thats another half percenta market decline that you'll have to anticipate

So, you getting your price is very dependent on how soon you can get an offer.

And...if you're townhome follows every single one of your trends, then you'll know it was better not to spend any money in the first place. 

Check out the rustic heritage buildings on the farmland
Have a moment with the livestock here 
Take a family portrait courtesy of our photo team
Have a snack, and play around a little
And most of all.....find some pumpkins that will light up your home on halloween. 

All of this is happening on October 18

We hope to see you there!

Information gather for the city of Richmond, from Greater Vancouver Realtors and Paragon

Summer 2025
Aparments: 339
Townhomes: 161
Single Family: 163

Summer 2026
Aparments: 315
Townhomes: 167
Single Family: 171

Price Change June to August 2025

Townhomes: -5.7
Aparments: -2.2
Single Family: -1.0

Price Change June to August 2026
Apartments: -4.1
Townhomes: -.02
Single Family: -1.8

A. Do you have a rainy day fund?
B. Why not? 

If you don't know what a rainy day fund, its an account where you put a small amount of money on the side, and you use it when you need to use it for something unexpected.  And no, its not used to save up for that home entertainment system you've always wanted.

So no matter what profession you, or whatever stage you're at in your career, you should have a rainy day fund. 

I remember back when covid hit, a lot of realtors in our group discussion what people were going to do for income with all these new restrictions in place. And thats when a friend of mine, who mentors a lot of new realtors, replied.....A. Do you have a rainy day fund? And B. Why not?

And this group discussion was with a bunch of experienced realtors, that didn't have a rainy day fund. 

And this is after the group recommended a couple of books to read like the Richest Man in Babylon and the Wealthy Barber, both financial books that talk about having a rainy day fund within the first few chapters.

And with the market the way it is, the ones that do have a rainy day fund are very grateful that they made one for themselves.

And if you're home owner, having a rainy day fund is more important than ever....especially if you own an apartment or a townhouse. I notice that a lot of buyers made the mistake of buying into a building that they feel is so well maintained that they don't need to worry about a special levy or  a rainy day fund.  However, the reality is...is that well maintained buildings are well maintained because of specy levies. As a homeowner, special levies or unexpected costs may arise one year down the road, or ten years down the road.  It does't matter...its coming!

So , if youre by yourself or with a significant other, you can see how putting away 25$ after every pay check can be very beneficial. So you can do the calculation yourself and see where you are after one year....and it doesn't look too shabby. 

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So, back in January you received your property tax assessment.  However right now, this is the time frame where appraisers are forumating information for your property, whch you will not see until January of 2027.

So, thats why its important not to use your proerty tax assessment as a measuring tool to see the market value of your home.  

Now yes, they do use recent sale information to determing your tax assessment value. However, they are using sales information from up to 3 months ago.

As you can tell with the current market, so much can change in the next 6 months, whether its upwards or downwards.  

So, when you see your tax assessment in january, just be reminded of two very simple things: 

1. Your tax assessment isn't there to tell you what your home is worth.  It never was meant for that.
2.  Your tax assessment is a snapshot in time....however that time frame is more than a half a year before that.

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It was a family, and they had a family business that was growing.  It was a restaurant in Richmond that added food trucks to expand.  

And prior to them meeting me, they went to their branch and started the mortgage process.  Long story short, they gave them little options and mentioned they probably cant do anything till next year, maybe even more. They even referred a realtor to start the real estate conversation, but....they said i cant do anything until you're preapproved. 

So i met with them at their restaurants and mentoned they wanted to call it quits because that was what the mortgage broker advice to them. And after them telling me their story i asked them one simple question....have you talked to a mortgage specialist? 

They said, we thought we did. 

Well then, whats the difference. 

Walking into branch, you'll be talking to a person that can work on your mortgage, but they also deal with business loans, personal investments, lines of credits and so forth. 

A mortgage specialist....well, they only deal with mortgages.  They dont have a secondary expertise because thats all they deal with.

Secondly, mortgage specialists, whether its at a bank or a broker, works with people with different kinds of financial backgrounds.  In this case, we're dealing with a business owner, which is not considered a typical client thats regulary dealt with...so, it has to be handled differently.

And third mortgage specialists are known to provide options. 

Options, in a delicate situation such as borrowing hundreds of thousands of dollars, is such a powerful thing.  Its kinda discouraging being told that you only have ONE OPTION.  But with options, you have the ability to make a concious informed decision on what to do next.  

Anyways, i got my guy on it.  I got a nice thank you text for introducing him to them.  

And' well probably be looking for properties in about 3 months.  


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In short, the people i have talked to has been discouraged to take the next stages based on their experience.  

So, why don't we back up for one second and talk about what we've worked with as the best place to start with your mortgage process.

So, for those who dont know who i am, my name is Ray Estrella and and I am a realtor in the Richmond area going into my 20th year of real estate. 

The main focus of my business is a family first approach helping first time buyers and families with the next stage of their lives through real estate. 
So, if this sounds like you...keep watching!

So lets start at the very beginning: Where are you going to get your lending advice?  

A lot of people that we have talked to is starting at their local bank. And not that there is anything wrong with that, but there are better options on who to tallk to. Walking into your local branch means you'll be talking to a person that can handle your mortgage, but it they also handle investments, business accounts and loans, lines of credits, long term savings accounts and more.  

Now every bank, has mortgage specialists out there, but they dont hang out at branches.  They're not very visible unless you ask for a referral and they're there...and here's the difference. 

They ONLY DEAL WITH MORTGAGES.  

There is no secondary stream of professional expertise. So, they are specialists when it comes to your mortgage questions because this is the only thing they deal with.

So, how does this benefit you. 

The one big difference that i noticed is providing mutiple options as solutions, rather than providing just a simple answer that may or may not be ideal.  Having multiple solutions at a time where you;re going to make a big investment is very powerful thing to have.  It gives you the ability to measure what works out best in your personal situation and make an infomed decision.

Secondly, a specialist in the field understands that not all clients are the same. We have a variety of different buyers that will receive different advice, whether they are self employed, someone who's new the country, had issues in the past and more.  And again, this is where multiple options that typically a specialist would be proficient to advise.  

And lastly, the specialist in the field are there for the long run. WEhether you just came out of being denied for a mortgage or still preparing, speciliasts know that buyers don't become qualified overnight.  And, a specialist is there to provide you with sound advice to help you prepare whether that time frame is just a few months away or a couple months away.

I know this is just the initial start without going anywhere, i do find this a valuable place to start. 

And heres a couple of other things.
 Number one: Don't rush the preparation process.  I get that people can be motivated when it comes to owning a home, but your prepration steps should not be overlooked. Weve noticed that people who rush the process don't get the best options in the long run.  

And number 2:  getting pre-qualified is just one of many steps to buying a home. So dont get ahead of yourself.  Embrace the process, but do understand getting pre-qualified is a step in the right direction, but its still one of many steps.

Well, i thank you very much for watching. And if you do have any questions, feel free to reach out. I'd love to be connect.  


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These are sellers that are looking to test the market with their own price in mind.  However, there are consequences when it comes to not properly listing the price, especially in a declining market. 

In a rising market, the market may catch up to your test pice....maybe.
But the market doesnt typically rise that fast. 

However, if you test the market with a high price in a declining market, there are consequences where there is no turning back.  

Now, lets use easy numbers for example and say you're selling your 1 million dollar townhome and you wanted to test the market with your ideal price. 

I can tell you right now that townhomes in Richmond has seen a steady decline of 7% in the last year. 

So...in that 3 months while you were waiting for that 'right offer', your property would have lost somewhere between $10,000-$20,000 just waiting for that right offer.

This is money you will not get back, and now....your test price is more unrealistic than ever. 

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I could tell by the email they sent that these were questions they were sending to more than one realtor.  And....i don't think they liked the answer gave them. 

They're looking to sell their condo and upsize into something bigger. 

So, here is the question they asked:" how do you approach the risk of aging systems like radiant heating, and roofing?

Well, aging components need to be replaced, especially the roof. So i'd be approaching it by either putting a few thousand dollars aside, and have a continuous plan where you put a small amount in there every month. 

I dont think they liked that answer so much.  But realistically, putting money on the side every month is responsible home ownership. I don't think that the approach of embracing special levy aligned with them so much.  But special levies are inevitable.



As the buyer, how do you protect us when sellers doesnt disclose the strata maintained items? 

Well, the seller isn't responsible for disclosing the condition of strata maintained items. They're all as transparent as can be in the strata documents.  More specifically, in the minutes, engineers reports and depreciation reports. Thats why its important for you to review the strata documents. Not me....you!  But i'lll be there by your side to review them with you...not for you. 

Again another answer that wasn't really taken well. 


But here's the jist of it:

Homeownership requires responsibility.  And....if you want your investment to flourish, you have to 

A. Stop being emotionally invested right after looking at a property. Theres a lot more you have to look at that you cannot see from the intial showing.
B. Stop running away from future costs. Instead of running away from them, its best to understand them. Future costs are again, inevitable, but what is accptable to you and what is the nature of these future costs. Sometimes these fuure costs arent in the best nature.
C. 

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2024
Overall: 2171
Spring: 659 (30% of entire year) 

2023
Overall: 2415
Spring : 809 (33% of entire year)

Single Family Homes

2025
Overall: 627
Spring: 234 (37% of entire year) 

2024
Overall: 797
Spring: 305 (38% of entire year) 

2023:
Overall: 820
Spring: 376 (45% of entire year) 


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Well....not necessarily, and it depends on who you talk to. So, here is my take on subject to sale offers here in 2026.

If you were to write a subject to sale offer on my listing, i wouldn't be inclined to be working with it.  And here are three reasons why.

1.  The sole reason of a slow market shouldn't be a reason why i should work with a subject to sale offer. It just isn't. I'll work with subject to sale offers in a busy market, but theres just more to consider than the fact that its the only offer in front of me: the current market of my listing, the market of the other property for sale, if its even on the market, how its positioned and more.

2.  If a slow market is the reason why you're writing a subject to sale offer, then our side has to wait for your property to sell in the exact same market conditions. It doesn't really seem to be intriguing. 

3 And lastly, this is whats unique about the slow market in 2026.  For the last 3 years, it's easier to be qualified to purchase a property.  In the last year, we've seen declines in interest rates, mortgage regulations being a little bit more relaxed as well as dropping prices.  All elements that make today's buyers more qualified than lets say 5 years ago.....theres just, definitely not even as close to as many buyers as there is inventory. So, its hard to work with a subject to sale offer knowing there are bona fide buyers out there.

So, its not a matter of not being incooperative when being presented a subject to sale offer. 

Its a matter of:

1. Being knowledgable on both sides of the market
2. Working in MY clients best interest and
3. Setting realistic expectations to both parties.  

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No i'm not going to tell you its the best time to sell, or its the best time to buy, but over the years, the spring market has a had this... narrative, and i'm making this video clarify a few things. 

And in case you dont me, my name is Ray Estrella, and I am a realtor with Sutton Group Seafair Realty and the main part of my business is helping families and individuals with the next stage of their life, through real estate.  So, if this sounds like you, i invite you to keep watching.


The spring market is a very popular time for real estate! Have you ever seen or heard, whether its an ad or headline saying the spring is best time to sell?  

Well, that also implies that  its the worst time to buy.

Yet there's a lot of buyers out there, because upon tax season, buyers are motivated through their latest mortgage prequalification.

We've also been told that the Spring time will be the top of the market! 

Really?  

Lets take a look at that for a second.

Apartment/Condo Benchmark prices from the Start of the Spring Market to the end of the Spring Market

march 2022 - 835,500
August 2022- 740,000

March 2023- 737,400
August 2023 - 770,000

March 2024- 777,500
August 2024 - 768,000

March 2025 - 767,500
August 2025- 734,400

So if you're hearing that the Spring is the best time to sell because its at the top of the market, that is outdated information.  
From 2006 when i started, all the way to covid we've seen a year over year incline whether it was .1 of a percent or 5 percent....with a couple of sections where the market went down for whatever reason.  So yes, every time the spring came around, we were under the impression that it was the top of the market.  You could also say that about the summer, and you could also say that about the fall year over year.  

Spring of 2006 $338,700
Spring of 2021: $715,000

But prices didnt increase or decrease because it was a certain month, or a certain season.  That's what i'm trying to get it.

So after saying all this, is the Spring time a bad time to sell?  

And my answer is....absolutely not.  Just change the perception what you have about the Spring Market.  The spring time is a very popular time to do real estate, because it is convenient.  

I mentioned earlier that the tax season provides a buyer motivation through new qualifications. 
But on top of that, real estate in the spring means moves that doesn't interfere with the kids school years, and yearly holidays. 

There are a lot of benefits in moving in the spring, but that goes both ways...selling and buying.  

I hope you found this information helpful, please message me if you have any questions we can answer for you. We'd love to help connect the dots. 

So, a few days later, i got a call from the realtor saying that the accepted offer didn't go through and wanted to see if i was back on the table. 

Unfortunately, we already involved another deal  and we we were in the middle of subject removal.

And yes, my client did like the first property better so i know its going to be a matter of time my client will be wondering what the status of that is, even though we had an accepted offer on the table with another property.

Now, upon the discussion, she brought her concerns about a form i asked her client to sign.  It gave me authorization to contact strata to find out if they really knew about these renovations, just like its stated in the disclosure.  

And she mentioned that it would be a risk to her client if it was signed, and that, unfortunately, is true, because i could potentially open up a can of worms as i'm performing my due diligence.  

She also said, strata council members knew about the renos and never said a thing. 

Unfortunately, that answer isn't really good enough for me and my client.  Strata members knowing about the unauthorized renovations does not equate to the strata management having knowledge of them.  It's not common for strata council members to come and go, so it will only be a matter of time these unauthorized renos can be an issue.

This unit had a wall taken down, and pot lighting that required electrical to run through the ceiling. Not that the renovations itself were't savvy, but this is definitely something that you want strata to have a record of.  

So, why is it important to have a strata record for.

Because down the road, when its time to sell, for whatever reason, you want to have property thats easy to sell.  And when you have a property where something like unauthorized renos is delaying the sale, this will not be a quick, nor an easy, nor an inexpensive way to rectify it.

And buyers....buyers are getting more educated, especially on issues like thi.s

A buyer and I found a nice 1 bedroom we liked, and we decided to gather more information on it, with the intention of writing an offer. 

One document that was available to view  was something called a MATERIAL LATENT DEFECT disclosure.  

What that is is a sheet that discloses items that may be potential issues.  Common reasons to see a material latent defect disclosure are things like unauthorized suites, or renovations that were done without permits or strata permission.

This was the case.  

So this unit in particular, had a few things done that visibly required strata approval, such as the addition of an aftermarket heat pump, pot lights and the removal of a kitchen wall.  

One thing that the disclosure did say is that the strata knew about it, so i was like great! 

So we wrote an offer on the property, but i also added a document for the seller to sign called authroization to inquire.  

Pretty much its a document that gve me and my buyer authorization to talk to strata, to make sure the renovations that this unit was to strata's knowledge.

Now, this property has now been on the market for 6 months in an area that is typically a balanced market, even in this current market.  

We were told that we'd get a response right away, but we had to wait a few hours.....only to hear that there is another offer coming. 

So, we were asked, just like any multiple offer situation, if we wanted to revise our offer, we said no. 

They also asked me if i needed to get the inquiry authorization signed...i said absolutely.  


So, as it went late night, we receieved a response saying we didn't get the property.  

No skin off of my back, but i did ask the realtor to give me a shout if it fell through.  This is where part 2 of the story comes in. 

Bottom line, take huge caution on dealing with material latent defects especially with strata properties. These are items that you would be adopting as the new owner.  There is absolutely nothing more solid than a paper trail provided by strata.  And obviously that is something you want to make sure you have when you're selling too. So if that paper trail doesn't exist, make sure you're on full alert and either take the steps to find it yourself or move on. 

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January 2025 Townhomes -1,110,800
January 2026 - $1,057,400
(-7.3%)

Single Family Homes
January 2025 - 2,178,300
Now- 2,036,800
(-5%)

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Well, even if you're just pondering it, watch this!  This will give some quick details why 2026 is a lot different from....many other years!

But first off, if you don't know who I am, my name is Ray Estrella, and I am a real estate professional here in Richmond, BC.  Everything that i do is based on a Family First approach.  Which means all of my business, arent developors or investors...they're people who want to take the next step of their lives through real estate.  So, if this sounds like you...keep watching.

So, here is some information of what the market looked like exactly a year ago, and here's what the market looks like now.

2026 has been an interesting year here in Richmond.  We saw declines for all types of properties.

-Condos and apartments sales went down and we a saw decrease  more than6%  and townhomes at a decline of 7 percent.
-The single family home market saw a decline in almost every sector of the greater vancouver area and the fraser.  In Richmond we saw a decrease of 5%

Here's also where it gets interesting as well. 
A year ago, we saw interest rates at hovering around the mid 4% mark. 
Now you can talk to your mortgage specialist and they might be providing you with an interest rate below the 4% mark.


So, what does this mean to you:

Overall, the market is something that is in favour for buyers, in many different aspects.  

Typcially, whenever we see an interest drop or rise, this has always directly effected the price of the market.  

Over the last 2 years, we saw one of the highest interest rate hikes in almost 20 years.  And here we are in 2026 with a normalized interest rate, and decreasing prices.  Typcially, we never see that. 

And also, the high amount of inventory means 2 things:
1. Competetive pricing, where the sellers are forced to be on par with the current market.  Which also means that those stressful multiple offer situations are not that much of a thing anymore.

Which brings me to number 2: 
The ability to perform your due diligence.  If you're new to the market, this has to be the most important thing a buyer can have.   You're able to sit back and breathe and make sure that your real estate purchase is a sound investment

Back in sellers market, this due diligence was taken away from buyers, so not only do we get this back, we get it back on our terms.
Which means:
-giving us the time to make sure the mortgage is good
-reading about the building's recent history,
-inspections, 
....or, just pondering it over, making sure you made a right choice.


How to get started

My first session with everyone i work with is purely educational.  We never talk about properties.  We talk about the steps, and in the most optimal order. I want the people that i work with prepared so they know whats going to happen, before it even happens.  We even talk about the preparation stages for example, downpayment, PR status and more., because the preparation stages are something that I don't take likely.  The more you're prepared, you'll notice that there are better options in front of you.

At the end of the day, our first educational session will be a huge time saver on the road.  Then you can use that time saved to focus on other things in your life. 

So, if 2026 is even something you're talking about.....i'd love to be there to connect the dots.


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The family and I just back from an amazing trip to Japan, and Ilove  to share with you what I brought back.  

And no, its nothing material, even though there was lots of shopping at our disposal.  

I may have spent about 50 dollars at the capcom store and and 20 bucks on a mug that I liked in Disneyland, and thats about it.  So, physically, i barely brought back anything.....except for a little bit of excess baggage if you know what i mean. 

So, here's stuff that came back with me from Japan.

1. Patience

Now, honestly, i'm not the most patient of people, especially while driving.  In the side streets of japan, you'll notice pedestrians, scooters cars, and bikes all share the same space....all at the same time.  There is a trust that everyone has eachother.Nobody is yelling, nobody is honking, and nobody is concerned for their safety...because they all know that they are all just trying to be somewhere  just like the next guy.  

2. Embracing effeciency
I've always been the kind of person to be in control of everything.  What comes along with that is an ineffecient way to do things.  I have teammates, colleagues and technology on my side that I know i can use, I just choose not to. And I'm sure if i can embrace effeciency, i know that will free up time to do more things that matter.

3. next level courtesy
I feel that I am a couteous peson, both personally and in the workplace.  If you ever go to japan, you'll notice the level of courtesy is a reputation that precedes them. I just know that there is something that can be unlocked that can level up a level of courtesy can go unexpected.  

4. Street food galore
For anyone that knows me, I'm a total sucker for street food.  This trip to japan gave me a number of ideas on what to try out when the barbecue season comes back.  I even bought myself a takoyaki pan off of amazon and used it the moment I arrived!  But hey, who knows, maybe my next summer mingler will be over a japanese bbq

Now, i know i can't bring this stuff back from japan and expect to use it the moment i came back.  These are all virtues that you kinda have to beleieve in, work on and practice....especially the cooking. 

So, looks like this will make a good new years resolution for 2026.  

Happy New Year everone!

Here's a few quick things to know about your assessment.
1. This assessment was conducted in July, which doesnt represent the current market
2. This assessment is primarily for tax purposes.  Even though theyre for tax purposes, there are corelations to keep consistent between lending values as well as as appraisal values.
3. Your assessment does not indicate an increase or decrease in property taxes.  Your taxes are determined by your municipality's budget and your assessment serves as a  mill rate to determine your share of property taxes.
4. Your property tax assessment is subject to dispute, so keep that in mind before the end of the month. 

Hope this helps. 

Happy New Year. 

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Would you rather sell in a sellers market or a buyers market?  Or maybe somewhere in between? 

Well, this is the follow up question I always ask when people ask me if its a good time to sell.....what are you planning to do next? 

The answer is different from client to client, therefore the answer to the first question of would you rather seller in sellers market is also different. 

So, it's really a matter of what you're doing last, as oppose to what you're doing first.  And maybe, selling your property, like an investment is the last thing you're doing without going into another property right away.

So, therefore, there are huge benefits in selling in the slow or a balanced market, especially if you're looking to transition into a new property.


Transitioning during a sellers market can be very stressful, especially in the second half of your transaction.  So even though your property sold at the terms and price you want, now you gotta go househunting in the exact same manner.

Me personally, i prefer dealing in balanced markets rather than sellers markets.  And even in slower markets, theres a lot more peace of mind in both the selling and buying process.

So slow down the gears, and focus more on what you're doing last, as opposed to what you're doing first. 


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Last week, my clients and i viewed properties, that included 2 listings in the same building.  After our tour, we decided to write on one of the two listings in the same building, simply because they liked the paint scheme better.  

After writing an offer, the seller countered us with price, and a 4 month completion (we originally asked for 2 months). 

We responded, well, why we do a a 3 month completion, but they insisted they wanted 4 months.  

We asked why they wanted to do such a long completion and they responded with: we haven't found a place, we need time to look around, etc. 

Now, keep in mind that both of these properties have been on the market for more than a hundred days.  

So, we halted negotiations with the first property and we inquired about the other one in the same building and they said they would give us the 2 months we originally wanted.  

So, fast forward to yesterday....the first realtor gave me a follow up call asking if my clients are still interested, and they would give us the 3 months we discussed.  
And i informed them that we already found a property because they were wanting to work around what we wanted.

He does't know that we wrote on another unit in the same building....but they'll be finding out soon enough. 

It's currently a buyers market, so the expectations of what a buyers market looks like should be expressed if you want to be putting your property on the market. 

There's a chance that your property may fly off the shelf....and if that happens, then you'll have that benefit of completion dates and price in your favour.  

However, if your property is stagnant on the market, then you should be doing things to help prepare you for when you do het an offer.  
1. keep informed on what's happening on the market: recent sales on the market to help adjust your listing price.
2. keep informed on properties you want to buy
3. have a plan b set...in case completion dates are not very favourable. 

richmond realtor
richmond real estate
richmond townhomes
richmond homes for sale
richmond condos for sale
steveston homes for sale
steveston townhomes for sale
ironwood homes for sale
ironwood townhomes for sale