Your Fraser Valley Real Estate Market Update
  
Market activity in the Fraser Valley – both sales and new listings – softened in July, however buyers continued to significantly outnumber sellers resulting in inventory reaching the lowest for the month since 1981.
Here is the summary of the market for July, 2021
Total Sales Processed - 2,006 (Increase of 4.5% compared to July 2020)
Total New Listings - 2,431
Total Active Listings - 4,901
For the Fraser Valley region, the average number of days to sell an:
Apartment (Condos) -24 Days
Townhomes - 15 Days
Single Family Detached - 26 Days
Of the total transactions Fraser Valley Real Estate Board processed:
479 were Townhouses
557 were Apartments (Condos)
765 were Single Family Detached
HPI Benchmark Price Activity
Apartments/Condos
Benchmark Price - $494,000
Price increased 13.0% compared to July 2020
Price increased 0.1% compared to June 2021
Townhomes
Benchmark Price - $688,400
Price increased 22.3% compared to July 2020
Price increased 1.5% compared to June 2021
Single Family Detached
Benchmark Price - $1,319,200
Price increased 30.9% compared to July 2020
Price increased 0.4% compared to June 2021
For the most updated market information on what is happening in your neighborhood, give me a call at 604 308 6404 or e mail at RealtorNischal@gmail.com.
The support of a real estate expert goes a long way when navigating a busy market in the Fraser Valley..
Reminder: As you know that I am in real estate investment and sales and my passion is to bring buyers/sellers together. Who have you talked to in past couple days that might be thinking about buying/selling in British Columbia or anywhere in Canada (I am blessed to be a part of a huge network that I meet/talk-to on regular basis which is the backbone of my business that my clients benefit.
Also, we offer a $500.00 referral fee to anyone that leads to successful completion of a sale.
Things I Don't Like Being a Landlord
My decision to venture into real estate had, in part, been based on a dream — a dream of being able to just sit back and do whatever I wanted to while the rent checks rolled in.
So what is so bad about being a landlord?
1. The Phone Calls
When you become a landlord, your phone begins to ring. Sometimes that can be good; other times it can be bad. Good or bad, there comes a time when you’ll be ready to throw your phone in the river because it never seems to stop ringing.
And the more you grow, the more your phone rings.
2. The Attitudes You Deal With
It is amazing what non-real estate people think about what I do. I can’t count the number of times when I tell folks that I am a landlord, and they instantly reply, “Oh you’re a slumlord.”
3. Being the Lone Wolf
Being a small landlord generally means being out on your own. No longer can you hang around the water cooler and gripe with your co-workers. Griping seems like a simple thing, but being able to gripe with like-minded people is important. It is a sort of therapy. It releases tension and steam.
4. The Misunderstandings
Sort of like being called a slumlord, many people have a complete misunderstanding of what it is I do. They seem to think that being a landlord is just about collecting rent. And while that is part of it, they do not understand the efforts I have made and the business I have developed to be able to collect that rent.
5. The Paperwork
The paperwork that comes with this job is overwhelming. There are leases, move-in forms, move-out forms, work orders, receipts, invoices and the list goes on and on.
The problem is, it all must be done to run your business properly. At first, you will likely to be able to handle most of this yourself. But as you grow, you will need help. Do not neglect to spend the money for this help; otherwise, you will become a paper-pusher rather than a landlord and investor.
6. Everyone Thinks I’m Rich
People tend to hear the word “landlord” and instinctively think of money — and that I have lots of it. While I may have a bit of equity here and there and rents checks coming in, much of that goes right back out.
7. Everyone Tries to Get Into My Pocket
Tenants want breaks on their rent. Contractors inflate their prices, and the tax man is always around and coming up with something new. Every day someone is trying to dig deeper in my pockets, and one of the toughest parts of this job is keeping folks’ hands out of it.
8. The Constant Negotiation
Everybody always wants to negotiate. Applicants want to negotiate my rental criteria. Tenants want to negotiate the rules. Property owners want to negotiate prices. Being a landlord is being in a state of constant negotiation. This is one of the major changes of leaving the 9 to 5 world. And I do not think it will ever stop until I get out of the business. Stand firm and learn how to do it. If you can’t, you are in for a rough time.
9. The Bad Tenants
This is perhaps the worst part of the business. Even after 15 years and lots of lessons learned, a bad tenant still comes along every once in a while. Usually something happens in their lives, and they turn bad. They lose a job or fall off the wagon, something neither they or the landlord saw coming, but they take it out in part on you and your property. They stop paying rent, force an eviction and perhaps destroy your property. This is perhaps the worst of the landlording business. And nothing I have learned so far is completely effective at eliminating them.
Life as a landlord can’t really be all that bad. And, in fact, it is not. I certainly do not wish I had never gotten into real estate, and I do not think I could ever go back to the 9 to 5 world again.
So if you want to make the jump into landlording, by all means, do so. Just go in with your eyes open, and understand that not everything is wine and roses.
10 Tips for Success and Wealth
Here are T Harv Eker's 10 tips for success and wealth that apply no matter what you’re trying to do or what area you want to succeed in.
Tip #1
Remember, you’re the one who can create your success, mediocrity, or financial failure. The best thing that you can do if you want to reach your goals is to take ownership of your life.
Tip #2
If you want to change the fruits, you must change the roots. Your roots are what produce results. That means if change doesn’t happen inside, everything on the outside stays the same.
Tip #3
Be willing to be uncomfortable.
Stepping outside your comfort zone isn’t easy, but it’s often necessary to succeed.
Tip #4
What you focus on expands. The more you work on something, the better it gets.
Tip #5
Your word must become law. If you don’t command authority, your people won’t listen to you.
Tip #6
Be a great money manager. Knowing your numbers and understanding your financials are the key elements to avoid losing money.
Tip #7
Recognize Tip #6, but stop focusing on the money. Instead, focus on solving problems.
Tip #8
Model rich and successful people. As an athlete, you wouldn’t want to take advice from someone who has no knowledge about your sport, right?
The same thing applies in business and in life. Always model those who have become successful before you.
Tip #9
Have no limits on your income.
There’s no real limit or ceiling when we’re talking wealth and success, so always strive to keep growing your income. Setting a threshold on your earnings can hold you bac
Tip #10
Never stop learning. If you’re not learning, you’re automatically dying. This may sound harsh, but here’s the thing…
Achieving success requires continuous education.
Now, everyone’s path to success and wealth is different. But you can use these tips to get you one step closer to achieving what you want in life.
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