Your Fraser Valley Real Estate Market Update
  
Overall inventory levels continued to recover as market activity remained moderate through January.
The Fraser Valley Real Estate Board processed 784 sales of all property types on its Multiple Listing Service® (MLS®) in January, a 2 per cent decrease compared to sales in December 2018, and a 35.2 per cent decrease compared to the 1,210 sales in January of last year.
This is the first time in the Board’s history that apartments have outsold residential detached homes during a month.
Here is the summary of the market for January
Total Sales Processed - 784
Total New Listings - 2,609
For the Fraser Valley region, the average number of days to sell an:
Apartment (Condos) - 45 Days
Townhomes - 44 Days
Single Family Detached - 55 Days
Of the total transactions Fraser Valley Real Estate Board processed:
190 were Townhouses
257 were Apartments (Condos)
250 were Single Family Detached
Total Active Inventory last month - 5,995 listings
HPI Benchmark Price Activity
Apartments/Condos
Benchmark Price - $409,000
Price decreased 2.2 % compared to December 2018
Price increased 1.2 % compared to January 2018
Townhomes
Benchmark Price - $522,100
Price decreased 1.8% compared to December 2018
Price increased 0.5% compared to January 2018
Single Family Detached
Benchmark Price - $951,100
Price decreased 1.2% compared to December 2018
Price decreased 3.3% compared to January 2018
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.
How Mike Tyson Lost $700 Million Dollars of Career Earnings
Mike Tyson was the heavyweight boxing champion of the world and made hundreds of millions of dollars in his career.
And he lost it all.
Here's how he did it:
#1 Lavish Parties
Details of this event are hard to find, but in 1996 when Mike turned 30, around 700 guests were invited to Mike’s luxury estate in Connecticut. Security for the party included hiring 12 off-duty police officers. He spent $410,000 for the one-night celebration.
#2 Houses
Speaking of Tyson's Connecticut mansion, his 50,000-square-foot estate is the same house that 50 Cent bought a few years later from Mike’s ex-wife. When 50 Cent went bankrupt in 2015, it came out that this mansion’s mortgage, property tax, and other maintenance fees cost him $67,000 a month.
But this wasn’t the only house Tyson bought. Mike also had estates in Maryland, Ohio, and Las Vegas.
These were the types of places with 10+ bedrooms, infinity pools, basketball courts, gold-plated furnishings, and ponds. One of these mansions even had an on-site casino and a nightclub inside.
#3 A 24-Karat Gold Bathtub
As a gift for his wife, Mike bought quite possibly the most expensive bathtub in the world, dropping $2,200,000 on a bathtub inside his Ohio mansion.
#4 Employing People Who Don’t Bring Any Revenue
Mike hired an animal trainer for $125,000 a year to take care of his pet Siberian tigers. He also employed an entourage of people, including bodyguards, chauffeurs, chefs, and gardeners.
None of these people were assets bringing in any revenue, they were simply monthly expenses that drained his savings.
#5 Expensive Cars
Tyson bought 111 cars. He owned a limited-edition Bentley Continental SC that cost $500K and was one of only 73 ever made.
He owned several Ferraris, Lamborghinis, a Range Rover, a Mercedes-Benz 500, and a 1995 Rolls Royce. A few times he even got phone calls from the police after members of his entourage were pulled over driving cars he forgot he had even bought.
#6 Jewelry and Clothes
Tyson spent $100,000 a month on jewelry and clothes, including things like a diamond-coated watch for $800,000 and an emerald and diamond bracelet for $250,000.
Tyson routinely spent $10,000 to $12,000 a day with his “walk around” cash.
He went bankrupt by 2003.
Since then, his net worth in 2019 is now back up to $3 million by doing numerous TV and movie appearances and debuting a show in Las Vegas at the MGM Grand.
Invest or Spend?
As you make money in life, you can choose to spend it or invest it;
If you invest, you’ll have more money to spend later…
And the best investment you can make is in yourself.
This isn’t an expense, it’s an investment.
You won’t lose money on this, you’ll make money.
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.
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