MARKET UPDATE

With listing activity remaining below historical norms, home sales in Metro Vancouver1 have mounted a surprising comeback, rising near levels seen last spring, before eight consecutive interest rate hikes eroded borrowing power and brought home sales activity down along with it.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,7412 in April 2023, a 16.5 per cent decrease from the 3,281 sales recorded in April 2022, and 15.6 per cent below the 10-year seasonal average (3,249).

There were 4,307 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in April 2023. This represents a 29.7 per cent decrease compared to the 6,128 homes listed in April 2022, and was 22 per cent below the 10-year seasonal average (5,525).

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 8,790, a 4.2 per cent decrease compared to April 2022 (9,176), and 20.9 per cent below the 10-year seasonal average (11,117).

Source: rebgv.org Click HERE to read more

EMBARRASSING HOME STAGING MISTAKES THAT CAN HURT YOUR HOME’S VALUE

1. Wrong Painting can be painful:
A buyer will always go for a picture-perfect apartment. Not painting your apartment and keeping it pale, is one of the common mistakes that sellers do. Clean, fresh, and bright, are the universal dogmas of staging. You can make a tired room look out of the ordinary just with a coat of paint on the walls. Maybe, repainting the walls every time is not possible, so one can always find other ways like keeping the apartment well-lighted, to avoid looking the apartment dull.

2. Ouch! Too much furniture:
It’s amazing to have good furniture in your house, especially in the main areas like, sofas in the living room, a table in the dining area, and side table at the corner of your personal rooms. But it isn’t a good idea to flood your house with plenty of furniture, just to make it look you have everything. However, including too much furniture can actually make your apartment look messed up and disarranged and won’t be an appeal to any eye.

3. Curtains can either make a room look mess or mesmerizing:
Omitting curtains is a common blunder and installing them can soften the space. People, who choose to save money on curtains, overcompensate by overcrowding the flat with expensive furnishings in an attempt to make the space feel less empty and cold.

Read more tips HERE

REAL ESTATE INVESTMENTS YOU SHOULD KNOW ABOUT

Owner - They are usually occupied by families and multiple people some try to reduce their personal risk and responsibilities by choosing to buy a multifamily house the actual theory and advantage of having a multifamily house is that people are more capable of affording their personal housing cost and there are other costly factors by collecting rents on their units however one should seriously consider whether he is prepared in the additional responsibility of being a landlord or not. 

Personal housing - Majority of people not only get involved in real estate by this method and is also considered to be one of the best ways of them to invest. They consider if they decide to be the owner on their own or rent out. Another consideration is what type of housing makes sense to them which includes specific location, region, area in terms of variety of factors such as house style type convenience nearby or some specific service such as stores house of worship transportation etc. How much should they spend both up front as well as, on a monthly basis?

Non owner -  When, one purchases, any residential property, with the desire on, earning, and economic gain, over - time, he must understand, both, the potential, and the risks involved in contingencies/planning, for vacancies, planning, and creating realistic, financial reserves, etc, his possibilities, for economic gain, is enhanced, but, it must be, understood, there is always, some risks, involved. One may become involved in this component, by: buying a one, or multiple - family house, and renting it; investing in a real - estate group's properties, etc.

Smaller properties (commercial) - This is similar to other properties and it also has the potential for profits or losses which gets examined by the attraction of locality and service the best ways to grow is to have quality tenants which makes it easy.

Large commercial properties - Investing in large commercial properties provide you with a large potential of investments, profits as well as loss therefore in addition to the factor to consider with smaller ones it's important to consider the amount of risk taken, services involved and willing to plan accordingly for results.

 Contingencies, vacancies, etc. : Investing in real estate, offers, potential rewards, as well as being aware of, and prepared for risks. It is important to recognize any warning signs, sooner, rather than never!

Read more about real estate investments HERE

HAPPY MOTHERS DAY TO ALL THE MOTHERS OUT THERE

Happy Mother's Day to all the amazing and strong women out there who have taken on the challenging and rewarding role of being a mom. Today, we celebrate the unwavering love, dedication, and sacrifice that mothers give to their children every day.

Being a mom is one of the most difficult and selfless jobs in the world, but also one of the most rewarding. Mothers work tirelessly to ensure that their children are loved, cared for, and provided with everything they need to succeed in life. From changing countless diapers to staying up all night comforting a sick child, mothers never stop giving.

On this special day, we want to thank all the mothers out there for their unwavering love, patience, and support. Your sacrifices, love, and guidance have helped shape us into the people we are today. You are our first teachers, role models, and best friends.

To all the new moms, seasoned moms, grandmothers, and mother figures, we appreciate you. Your tireless work, sacrifice, and love have not gone unnoticed. You are superheroes in our eyes, and we are forever grateful for all that you do.

So to all the amazing moms out there, Happy Mother's Day! May your day be filled with love, laughter, and appreciation for all that you do. You deserve all the love and appreciation in the world, today and every day.

5 Things That Happened To Real Estate In 2022

The 2021-2022 period saw a truly remarkable transformation within the real estate industry.

The Bank of Canada's increasing policy interest rate to bring inflation back to target meant that mortgage rates could rise and hit homeowners hard.

To counteract this, interventions by both the federal and provincial governments were heavily relied on to cushion households from the financial shock. With relaxed pandemic safety protocols in 2022, buyers gained renewed confidence in the market, driving tremendous interest in buying or selling property.

Furthermore, technological advancements such as smart devices put more powerful tools at the fingertips of those who do business in real estate, providing greater convenience for those with a keen eye on the market.

Finally, efforts were made to introduce greater diversity, equity and inclusion into the sector following years of research and discussion around discrimination present in real estate transactions – something that will no doubt continue well into 2022 and beyond!

The Top 5 Most Searched Neighborhoods In Burnaby

One of the most exciting places in Burnaby is definitely Brentwood.

With its bustling shopping malls, movie theatres and so much more, there is no shortage of fun activities. The Brentwood Skytrain Station also makes it incredibly easy to get around while you explore all that the neighborhood has to offer.

But if you're looking for some quieter entertainment, Deer Lake Park in nearby Brentwood, is a stunning natural space where you can spend leisurely afternoons taking walks, picnicking and bird watching.

Whether you're searching for an exciting shopping experience or just want to take it easy on tranquil grounds, Burnaby has something for everyone!

Featured Properties For Sale

Are you looking for a perfect home to buy? Look no further! Our featured listings are sure to offer something special for every prospective buyer. From gorgeous country homes, beachside escapes and urban condos – our curated selection of properties have been meticulously reviewed and selected. Whether you're looking for a modern city pad or a traditional house with plenty of room for a growing family, we have you covered. We understand that not all buyers are searching for the same thing and guarantee that there will be something to fit your individual needs in our ever-growing list of Featured Listings.

New Market Update!

"Inflation, rising interest rates create caution across Metro Vancouver’s housing market

Home sale activity across the Metro Vancouver housing market continued to trend well below historical averages in October.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,903 in October 2022, a 45.5 per cent decrease from the 3,494 sales recorded in October 2021, and a 12.8 per cent increase from the 1,687 homes sold in September 2022.

Last month’s sales were 33.3 per cent below the 10-year October sales average.

“Inflation and rising interest rates continue to dominate headlines, leading many buyers and sellers to assess how these factors impact their housing options,” Andrew Lis, REBGV’s director, economics and data analytics said. “With sales remaining near historic lows, the number of active listings continues to inch upward, causing home prices to recede from the record highs set in the spring of 2022.”

There were 4,033 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in October 2022. This represents a 0.4 per cent decrease compared to the 4,049 homes listed in October 2021 and a 4.6 per cent decrease compared to September 2022 when 4,229 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 9,852, a 22.6 per cent increase compared to October 2021 (8,034) and a 1.2 per cent decrease compared to September 2022 (9,971).

For all property types, the sales-to-active listings ratio for October 2022 is 19.3 per cent. By property type, the ratio is 14.3 per cent for detached homes, 21.6 per cent for townhomes, and 23.2 per cent for apartments.

Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,148,900. This represents a 2.1 per cent increase from October 2021, a 9.2 per cent decrease over the last six months, and a 0.6 per cent decrease compared to September 2022.

Sales of detached homes in October 2022 reached 575, a 47.2 per cent decrease from the 1,090 detached sales recorded in October 2021. The benchmark price for a detached home is $1,892,100. This represents a 1.6 per cent increase from October 2021 and a 0.7 per cent decrease compared to September 2022.

Sales of apartment homes reached 995 in October 2022, a 44.8 per cent decrease compared to the 1,801 sales in October 2021. The benchmark price of an apartment home is $727,100. This represents a 5.1 per cent increase from October 2021 and a 0.2 per cent decrease compared to September 2022.

Attached home sales in October 2022 totalled 333, a 44.8 per cent decrease compared to the 603 sales in October 2021. The benchmark price of an attached unit is $1,043,600. This represents a 7.1 per cent increase from October 2021 and a 0.5 per cent decrease compared to September 2022."

Information provided by The Real Estate Board of Greater Vancouver.

With interest rates climbing and the total inventory of homes for sale inching higher, it's important to work with your local Realtor to understand how these factors could affect your home buying or selling situation.

Call today! 📞 604-787-4691⁠ ✉️ adam@adamlloyd.ca⁠ 

For more information, please visit: https://adamlloyd.ca/category/blog/⁠
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We Don't Have Your Business Yet, But We're Working Hard To Earn It.⁠

JUST LISTED!

⭐JUST LISTED⭐
914 TENTH AVENUE,
NEW WESTMINSTER, British Columbia 🏡 ⁠
6 🛌 | 4 🛀 | $1,650,000

Welcome to this beautiful Craftsman-style home bursting with character! Built-in 1927, this home has been thoughtfully maintained to keep its historic style but has also seen tasteful updates to areas like the Kitchen and Basement suite. 6 bedrooms total with the basement suite containing 2 of them as well as its own Laundry and its own entrance! 200AMP electrical, no oil tank, detached garage w/ laneway access; this list goes on! Come and check this one out.

Please visit HERE for more information!

www.adamlloyd.ca

OPEN HOUSE BENEFITS AND FLIP SIDE

OPEN HOUSE BENEFITS AND FLIP SIDE

"In Real estate sector, an open house is an opportunity wherein sellers display their properties to potential and interested buyers. In an open house, prospective owners get an opportunity to not only browse through the house as they want, but they can also see the minutest details of things like furnishings or amenities that is present, and how the house looks when empty, or even what all needs repair or maintenance. During Open house visits, prospective buyers or even realtors get a chance to experience the location, neighbourhood, and the actual environment of the house. An open house is always scheduled in advance, so that the prospective buyers can be notified about it, and it is scheduled for a time duration, so that maximum buyers or visitors can visit on the site. There are many benefits of an open house which can be availed by both buyers and realtors. On the contrary there are some disadvantages or flip side, which must be kept in mind while visiting for an open house or conducting an open house."

To read more click here.

New Market Update!

Home buyer demand in Metro Vancouver returned to more historically typical levels in April.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totaled 3,232 in April 2022, a 34.1% decrease from April 2021, and a 25.6% decrease from March 2022. Last month’s sales were 1.5% above the 10-year April sales average.

Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12% for a sustained period, while home prices often experience upward pressure when it surpasses 20% over several months.

“So far this spring, we’ve seen home sales ease down from the record-breaking pace of the last year,” Daniel John, REBGV Chair said. “While a small sample size, the return to a more traditional pace of home sales that we’ve experienced over the last two months provides hopeful home buyers more time to make decisions, secure financing and perform other due diligence such as home inspections.”

With interest rates climbing and the total inventory of homes for sale inching higher, it’s important to work with your local Realtor to understand how these factors could affect your home buying or selling situation. Call today! ⁠📞 604-787-4691⁠ ✉️ adam@adamlloyd.ca⁠
⁠
For more information, please visit: https://adamlloyd.ca/category/blog/⁠
⁠
We Don't Have Your Business Yet, But We're Working Hard To Earn It.⁠

Gardening Tips for Beginners

Do you want to grow a garden?

There are many reasons to dig in, including to:

-Eat delicious, fresh, local, organic food.

-Save money and avoid wasteful packaging, e.g., a small urban lot with less than 0.024 hectares (0.06 acres) in production might enjoy yields worth $3,500 to $6,000 per year! 

-Enjoy physical and mental health benefits of digging in the dirt (soil microbes).

-Help pollinators. 

-Take climate action. Did you know “greenhouse gas emissions can be cut by 2 kilograms for every kilo of homegrown vegetable when compared to the store-bought counterpart?”

WHERE AND HOW WILL YOU PLANT?

Sketch a sun map

Is your yard, balcony or windowsill in full shade, part shade, full sun or a combination? No need to guess. Find out how to map or sketch the sun’s daily pattern. You’ll save time and money planting in the correct place and you’ll learn how to interpret instruction tags on plants. Did you know “full sun” means the site receives more than six hours of sunlight each day? Beware of frost pockets (dips or the lowest part of your yard) and note if you need wind protection.

Get your lawn off grass

Use sheet mulch instead of tearing up sod. Put down about three layers of cardboard (free from tape and/or staples) to smother lawn. Then add soil, compost or raised beds and get planting annuals and perennials — maybe start a food forest! Free arborist wood chips are great for trails between beds. Call a tree-trimming company to ask for a free load or flag down a truck chipping in your neighbourhood.

Tip: Fill raised beds with 30-40 centimetres of soil and compost.

Continue Reading....

10 Cheap & Safe Countries To Buy Property

Have you ever dreamed of buying a house in a foreign country and moving there to live the expat life or perhaps buying an investment property and renting it out?

Well, there are many countries where you can buy property for an affordable price. These countries have some of cheapest real estate markets in the world. They are ranked on many factors including safety index, cost of living, quality of life and access to healthcare.

Here are the top 10 affordable and safe countries to buy properties.

Click here to read

New BC ASSESSMENT are out!

These assessments were actually done in JULY last year and a lot has changed.

For the most up-to-date market evaluation please contact me @ 604-787-4691
My team and I will get you the information before the approaching summer market.

https://adamlloyd.ca/home-evaluation

6 Lies We’re Told About Money Growing Up

These common lies and myths are hammered into most of us as we grow up. Some are just outdated beliefs that no longer work. Others are misconceptions from those with a limited perspective on life and money. Some may be the result of billions of dollars in marketing and programming. It is good to be aware of them and reprogram yourself to harness empowering beliefs that can deliver on what you really want.

1. Money can’t buy happiness.

Simply having more money in your bank account may not make you happier—at least, not after a certain point. However, anyone who has both been broke and has enjoyed an abundance of money can tell you it’s a lot better to have it than not.

Money does provide a gateway to more experiences in life. It allows you to solve more problems quickly and easily. Imagine you have a relative who gets sick. If you have the funds, you may be able to pay for whatever surgery they need. Conversely, if you’re broke, you may be powerless to help them. No amount of money is better than your health or your family’s health, but having some can empower you to provide resources in times of need.

Money can also buy you freedom. It can give you security and reduce stress, as well as allow you to focus on things you really care about and want to do, whether that is traveling or giving your kids all the advantages to live their passions.

2. Wealthy people are thieves.

There are both broke and rich people who seem to believe they can only win, get rich, and feel good if they take from others. Still, to say all wealthy people are thieves and must have gotten there by ripping others off is far from the truth. In fact, those who share and give the most value to the most people are able to gain the most wealth and keep it long-term. This myth is just something told by those without money as a way to justify why they don’t have it.

3. Money is the root of all evil.

Money—just like political titles, big houses, and fancy cars—is not inherently good or bad in and of itself. This quote has been twisted from what it originally stated, which is “the love of money is the root of all kinds of evil.”

If you are only chasing the money to get rich at all costs and don’t care about anything else, then yes, at some point it is probably going to get you into trouble. At least you’ll probably make a few enemies on the way.

Money is just a tool. It can be used for incredible good. There are lots of problems out there, from famine to lack of clean drinking water and sickness, that can be cured with money. It’s all about the priority it has in your life compared to your other values—and what you do with it.

4. Save, save, save

Some of us with smart and hard-working parents or grandparents were told all our young lives to “save, save, save.” That was supposed to be the key to success.

It just doesn’t work. You can’t save enough, quickly enough to get ahead or stay ahead. The average retirement account balance of a Canadian  right now is only around $184,000. That includes those who have been working a lifetime to accumulate that and maybe even some who inherited money. You might need several million to get through retirement. The numbers just don’t add up.

If you want to keep up or get ahead, your mantra should be “invest, invest, invest” or “earn, earn earn” instead. That’s what will help you supersize savings, enjoy more free income, and be able to retire.

5 . Money doesn’t grow on trees.

This is a scarcity mindset. If you always think and act out of scarcity, that’s what you get. So many people have gotten into real estate investing and have woken up to just how much money is out there and freely available. Some people dream their whole lives of winning a million dollars. They think that if they hit that golden number, they’ll be set forever. In reality, you can blow through a million bucks pretty fast. There are cars that sell for over $1M. In many cities, the average house starts at $1M.  Millionaire is the new middle class.

There is definitely enough in the world for everyone to have abundance. It’s about logistics and bridging the gap from where you are now to where you want to be. Increasing the cash flow in your own life is about investing and finding more ways to serve more people.

6. Go to college.

They tell you to go to college to get an education that will land you a good job that pays well, so you can ride it out until retirement. That strategy might have worked a few decades ago, but it doesn’t anymore. Chances are it will just make you even more broke with lots of student loan debt.

Learning is good. It is important. But many may be better off learning real financial skills and how to invest and make money work for them, instead of trading their lives for just enough to get by.

If you’ve heard these things, I urge you to consider who told them to you. They may have been shared out of good intentions, but that doesn’t mean they’ll work. How wealthy have these beliefs made those who perpetuate them? Learn from those who are living how you want to live.

First Market Update of 2022!

Metro Vancouver home sales reached an all-time high in 2021 as housing needs remained a top priority for residents in the second year of the COVID-19 pandemic. ⁠
⁠
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 43,999 in 2021, a 42.2% increase from 2020, and a 73.6% increase from 2019. Both detached home and townhome benchmark prices increased 22% in the region last year, while apartments increased 12.8%. ⁠
⁠
“Home has been a focus for residents throughout the pandemic. With low interest rates, increased household savings, more flexible work arrangements, and higher home prices than ever before ” Keith Stewart, REBGV economist said. ⁠
⁠
“We begin 2022 with just over 5,000 homes for sale across the region. This is the lowest level we’ve seen in more than 30 years,” Stewart said. “With demand at record levels, residents shouldn’t expect home price growth to relent until there’s a more adequate supply of housing available to purchase.” ⁠
⁠
To better understand the latest home price trends in your preferred location and home type, talk with your local REALTOR® today! ⁠📞 604-787-4691⁠ ✉️ adam@adamlloyd.ca⁠
⁠
For more information, please visit: https://adamlloyd.ca/category/blog/⁠
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We Don't Have Your Business Yet, But We're Working Hard To Earn It.⁠

10 Surprising Tips and Tricks for Dealing with Ice and Snow

Table salt is a great temporary deicer, when used in moderation. To prevent a hard frost from forming on your car windshield overnight, try placing table salt in an old sock and rubbing it over the windows the night before, making sure to rub firmly over the entire surface. 

Read more Ice and Snow Tricks

Market Update

Home sale activity in Metro Vancouver remained above historical averages in October while the overall supply of homes for sale dipped to levels not seen in three years.⁠ ⁠

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totaled 3,494 in October 2021, a 5.2% decrease from October 2020, and an 11% increase from September 2021.⁠ ⁠

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 8,034, and the sales-to-active listings ratio for October 2021 is 43.5%. ⁠

⁠ “Rising fixed mortgage rates should eventually help ease demand, but for now sales remain strong and buyers with rate hold will remain motivated to find a property for the rest of the year,” Keith Stewart, REBGV economist said.⁠ ⁠

To better understand the latest home price trends in your preferred location and home type, talk with your local REALTOR® today! ⁠ 

📞 604-787-4691⁠ ✉️ adam@adamlloyd.ca⁠ ⁠

For more MARKET UPDATE, please visit www.adamlloyd.ca⁠

We Don't Have Your Business Yet, But We're Working Hard To Earn It.⁠ ⁠

Testimonial

How Parents Can Teach Kids About Finances From an Early Age

Children should start learning about finances at an early age, and how parents teach them should depend on their age, according to Meridian Credit Union Senior Wealth Advisor Paul Shelestowsky.

Shelestowsky told CTV News Channel on Sunday that preparing kids early can help them navigate future financial challenges.

"Finances are one of the biggest stressors," Shelestowsky said. "The sooner the children can learn about these concepts, the more prepared they'll be to handle the stresses as well as develop some financial confidence."

While it can be difficult keeping a child's attention when they are aged five and younger, Shelestowsky recommends teaching in the form of games or other types of fun.

This can include playing "things like coin identification games and, when you go shopping, talking about the process of the purchases and then letting them help you find good deals," he explained.

"You want it to be engaging that age."

Continue reading here

Market Update

Home sale activity remains elevated across Metro Vancouver’s housing market while the pace of homes being listed for sale continues to follow long-term averages.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,149 in September 2021, a 13.6% decrease from September 2020, and a 0.1% decrease from August 2021.

Last month’s sales were 20.8% above the 10-year September sales average, and new listings were 1.2% below the 10-year average for the month. For all property types, the sales-to-active listings ratio is 34.1%.

“Home price trends will, however, vary depending on property type and neighborhood, so it’s important to take a hyperlocal look at your location and property category of choice before making a home buying or selling decision.” Keith Stewart, REBGV economist said.

To better understand the latest home price trends in your preferred location and home type, talk with your local REALTOR®! Contact us today!

📞 604-787-4691⁠ ✉️ adam@adamlloyd.ca⁠ ⁠

For more MARKET UPDATE, please visit www.adamlloyd.ca⁠

We Don't Have Your Business Yet, But We're Working Hard To Earn It.⁠ ⁠

HAPPY THANKSGIVING

30+ October Facts!

These are super interesting October facts and trivia for those born in the tenth month of the year.

1. Tourmaline and opal are the official birthstones of October.

2. The birth flower of October is the bright orange calendula, also known as the marigold.

3. The star sign of everyone born in October is either a Libra or a Scorpio. Libras are born between 23 September to 22 October and Scorpios are born between 23 October to 21 November.

4. Shakespeare never mentioned October in any of his plays or sonnets!

5. Matt Damon, Julie Andrews, Hillary Clinton, Bill Gates, Katy Perry, Julia Roberts and even Christopher Columbus were all born in October!

6. In German and Dutch, October is called 'Oktober', in Italian it is 'Ottobre', in Turkish it is 'Oketopa' and in Korean it is 'Siweol'.

7. Babies born each year during October are thought to be very smart and are usually high achievers.

8. October is the tenth month of the year and is the sixth of seven months to have 31 days.

9. October and January always start on the same day of the week in common years. In leap years, October doesn't start on the same day of the week as any other month. October and February also always end on the same week day!

Click the link HERE to read more!🎃

Market Update

While home buyers have remained active in Metro Vancouver* throughout the summer, the supply of homes for sale has declined steadily since June.⁠ ⁠

The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential homes sold in the region increased 3.4% from August 2020, and decreased 5.2% from July 2021. Last month’s sales were 20.4% above the 10-year August sales average.⁠ For all property types, the sales-to-active listings ratio for August 2021 is 35%.⁠ ⁠

Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12% for a sustained period, while home prices often experience upward pressure when it surpasses 20% over several months.⁠ ⁠

“When assessing the market, it’s important to understand that while year-over-year price increases have reached double digits, most of the increases happened three or more months ago,” said Keith Stewart, REBGV economist. ⁠ ⁠

To better understand the latest home price trends in your preferred location and home type, talk with your local REALTOR®! Contact us today!

📞 604-787-4691⁠ ✉️ adam@adamlloyd.ca⁠ ⁠

We Don't Have Your Business Yet, But We're Working Hard To Earn It.⁠ ⁠

www.adamlloyd.ca⁠

Planning Ahead To Get the Best Terms On Renewal!

If your mortgage term is almost up for renewal, there’s a good chance you’ll be pleasantly surprised with the low interest rates available on the market today. While the pandemic has caused a lot of economic uncertainty, the result has been very low interest rates. In fact, the Government of Canada has indicated that rates will most likely stay low until 2023. 

So if your mortgage is up for renewal in the next 6 months, here’s what you should do. Start now. Yes, right now.  Getting ahead of your renewal is one of the most important things you can do. This will ensure that you don’t get busy, forget about the deadline, and have to make a rush decision. Or worse yet, your mortgage will renew into a product you didn’t choose for yourself. You’ll want to weigh your options and make the best choice for you. This can take time. So start now and reach out to me today. 

Market Update

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,762 in June 2021, a 54% increase from June 2020, and an 11.9% decrease from May 2021.⁠ Last month’s sales were 18.4% above the 10-year June sales average. ⁠ ⁠

“We’re now seeing a market that’s beginning to normalize from the torrid pace in the spring. This is making multiple offers less common, allowing subjects to be seen on offers more frequently again, and is making new price records less likely.” Keith Stewart, REBGV economist said. ⁠ ⁠

Want to know more about the market? We can help! Give us a call today and let us show you how we can help you to achieve your real estate goals.⁠ ⁠

📞 604-787-4691⁠ ✉️ adam@adamlloyd.ca⁠ ⁠

We Don't Have Your Business Yet, But We're Working Hard To Earn It.⁠ ⁠

www.adamlloyd.ca⁠

Renew or Refinace?

Renew, refinance, equity take out?

If your mortgage term is almost up for renewal, there’s a good chance you’ll be pleasantly surprised with the low interest rates available on the market today. While the pandemic has caused a lot of economic uncertainty, the result has been very low interest rates. In fact, the Government of Canada has indicated that rates will most likely stay low until 2023.

This may also be a great time to consolidate some high interest debt into your mortgage as well. Many things to consider before you sign any renewal letter you receive from your lender.

If your mortgage is up for renewal in the next 6 months, here’s what you should do. Start now. Yes, right now. Getting ahead of your renewal is one of the most important things you can do. This will ensure that you don’t get busy, forget about the deadline, and have to make a rush decision. Or worse yet, your mortgage will renew into a product you didn’t choose for yourself. You’ll want to weigh your options and make the best choice for you. Let's talk. Our Mortgage broker will give you the most suitable solution.