Fraser Valley Real Estate Market Update
  
Ongoing demand for properties in the Fraser Valley saw overall sales reach the second highest point for October. The FVREB processed 1,799 sales of all property types on its Multiple Listing Service in October which is an increase of 23% compared to the 1,463 sales in October of last year.
Attached sales represented 56% of all market activity for the month, with apartment sales totaling 591 and townhomes at 418. Apartment activity was notably strong in October with a sales to-active ratio of 105%.
Here is the summary of the data as released by the Fraser Valley Real Estate Board for October.
New Listings in October - 2,479
Number of days to sell an Apartment - 18 Days
Number of days to sell a Townhome - 19 Days
Number of days to sell a Single Family Detached - 31 Days
Now here is the HPI Benchmark Price Activity for October.
Single Family Detached
At $971,900, the Benchmark price for a single family detached home in the Valley decreased 0.3% compared to September 2017, and increased 11.8% compare to October 2016.
Townhomes
At $502,800 the Benchmark price for a townhome in the Fraser Valley increased 0.8% compared to September 2017, and increased 18.4% compared to October 2016.
Apartments (Condos)
At $369,400, the Benchmark price for apartments in the Fraser Valley increased 3.1% compared to September 2017, and increased 36.4% compared to October 2016.
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..
12 Reasons Why Rental Properties Are the best Investment
It is no secret that I love multi-family rental properties. Rent-to-own or flipping properties might be fun but rental properties is my true business love. Let me explain why:
1. Ability to Purchase with Leverage
Rental properties are great because you can borrow the bank's or someone else's money to increase the potential return.
2. Ability to Hustle for Greater Returns
Not only can I leverage my cash, but I can also leverage my time and abilities to make magic happen in this game - something difficult to do with other investments.
3. Ability to Manage my Investment Directly
With a rental property, I am directly responsible for the outcome of my investment. It is up to me to analyze a property before I buy it; it's up to me to ensure the property is in a good condition and it's up to me to ensure the property is performing at peak performance.
4. People Always Need a Place to Live
The real estate market will go up and down, but the beauty of rental properties is that demand will never end. People always need a place to live, so unlike the latest tech trend, real estate investment is an investment that will last.
5. It's Worked for Millions of People Before Me
Perhaps one of the greatest benefits to rental property investing is the proof of concept handed down by millions of investors before us. Since the dawn of human civilization, landlords have built wealth by owning and leasing out residential property.
6. Fairly Stable and Predictable
Yes, events such as the market collapse in 2007 do happen, but rental property owners who were investing for long-term gains did not suffer like those who were trying to be fancy and were investing out of greed.
7. Incredible Variety
Rental properties also offer an incredible amount of opportunity within the asset class. I can invest in single family houses, small multifamily properties or large multifamily apartments. The possibilities are endless.
8. Simple and Straighforward
Although I will never claim that working with rental properties is easy, I do maintain that investing in rental properties is fairly simple and straightforward. The strategies for success in real estate investing is not overly difficult to learn or master.
9. I Can Buy Below Market Value
One of my favorite reasons for investing in rental properties is my ability to find properties that I can buy below market value by dealing with the Sellers directly.
10. Insider Trader is Legal
I know I won't end up in jail like Martha Stewart because as a real estate investor I can leverage any secret knowledge I can find to benefit my investments. If I know that a new light rail or rapid transit is moving into a neighborhood, I can jump in and swoop up properties before word gets out.
If I hear that a major industry is leaving an area, I can get out of that area before the market declines.
11. Multiple Ways to Profit
One of the greatest benefits of rental property investing, especially compared with other real estate niches and strategies, is the opportunity to capitalize on all four of real estate's major profit sources:
- Cash Flow
- Appreciation
- Mortgage Paydown
- Tax Benefits
12. Not Having to Be Present to Make Money
Finally, I love the idea that I can make money without physically needing to be present. That's called a "job", and I want to avoid that.
Do understand that real estate is not generally a 100% passive activity, but over time, the systems you create can help you outsource most of the landlording process.
The dollars will roll in whether you get out of bed in the morning or not.
4 Tips to Detach From Your Phone
Right now, the world feels a bit like a huge sociological experiment.
Just 10 years ago, none of us were connected to the internet 24/7. But since the launch of the iPhone in 2007, the world has experienced a rapid shift - one in which it is normal to be tethered to our devices.
Our technology is addictive because of the way it is designed. Tech companies do a ton of social good. But they also deliberately seek to hijack your attention and hold it for as long as possible.
With notifications constantly popping up, apps that scroll endlessly, and e mails begging to be read, taking control of how you use technology can feel almost impossible. But you can do it one step at a time.
Here are the 4 tips for how to detach better.
1. Become Aware
Download Rescue Time for your computer and Moment for your iPhone to see how much time you actually spend on your phone.
2. 30 Before 7.30 A.M.
Sleep with your phone out of your bedroom. When you wake up in the morning, don't touch it. Grab a notebook and plan your priorities for the day. Once you finish your 30 minutes of planning, you can then look at your phone.
3. Progress, Not Productivity
Responding to emails makes you feel productive but never moves the needle on what matters. Work on your top priority first thing in the morning. Do it right away and don't check your e mail until you finish.
4. Phones Off the Table
Unplug when you're around other people. If someone's phone comes out, politely ask him or her to put it out of sight. Ban phones from the dinner table or family gatherings. Research shows having a phone on the table distracts people - even if it is not theirs.
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