Your Fraser Valley Real Estate Market Update
  
For the third straight month, home sales in the Fraser Valley surpassed 2018 levels bringing the market back in line with long-term averages.
Here is the summary of the market for September
Total Sales Processed - 1,343
Total New Listings - 2,769
Total Active Listings - 7,946
For the Fraser Valley region, the average number of days to sell an:
Apartment (Condos) -41 Days
Townhomes - 37 Days
Single Family Detached - 46 Days
Of the total transactions Fraser Valley Real Estate Board processed:
383 were Townhouses
344 were Apartments (Condos)
557 were Single Family Detached
HPI Benchmark Price Activity
Apartments/Condos
Benchmark Price - $405,500
Price decreased 0.9% compared to August 2019
Price decreased 7.6% compared to September 2018
Townhomes
Benchmark Price - $520,000
Price decreased 0.3% compared to August 2019
Price decreased 4.8% compared to September 2018
Single Family Detached
Benchmark Price - $950,000
Price decreased 0.4% compared to August 2019
Price decreased 3.9% compared to September 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.
5 Ways to Get More Out of Networking Events as a Newbie
It all sounds great, right? The thing is, many new investors get it all wrong when trying to strike up relationships at real estate investing meetings.
With these five rules, you should be able to avoid common beginner pitfalls and leverage real estate investment clubs to work for you.
1. Put yourself out there and network.
The essence of attending a real estate investment meeting is to—yup—network! It might be harder for some people to get acquainted with strangers; that is normal. But ultimately, you need to take steps that will help grow your business.
2. Create an agenda before the meeting.
Networking for the sake of networking is pretty much worthless. Make it a point of setting an objective you want to achieve every time you attend a networking meeting.
Having a goal in mind will not only make your efforts more fruitful but also more enjoyable.
3. Make use of the contacts you meet.
At some point, most of us have built up a fat contact list. But what use is it if it doesn’t add value to your business?
Avoid snapping up business card after business card, only to end up stashing them all in your drawer.
It’s better to have four solid contacts you genuinely get in touch with on occasion than 60 connects with whom you don’t really connect.
4. Don’t be the smartest person in the room.
It’s OK to share what you know with the other investors, but understand that others have something meaningful to say.
Don’t let the conversations you start be all about you, because if you do, not only will you be “that guy,” but you will end up gaining nothing, which defeats the whole purpose of attending the event.
5. Volunteer
By and large, real estate meet-up groups and clubs are not-for-profit, meaning they are mostly run by volunteers.
Volunteering is not just about going out of your way to organize meetings. The other side of this coin is that it gets you on the “inside track” of the investment club, and over time, your influence grows steadily.
What you want is to add value to your real estate business—not waste your valuable time.
Rental Inspections – How Often is Too Often?
As a property manager, it is your responsibility to ensure that your tenants are satisfied and that the building is in great working order. You will have to perform these responsibilities without becoming overbearing and nosy.
Put it in Writing
As a property manager, you have the right to inspect an apartment at any time. However, you do not want to become overbearing or nosy as this can quickly sour a relationship with your tenant. It is highly recommended that you outline your inspection policy in the lease agreement. As a courtesy, you should give your tenants 24 hours’ notice and state why you intend to enter the apartment. Check with local laws and bylaws to make sure that you are following all the necessary rules.
Moving In and Moving Out
A move in inspection is a must. This inspection will allow you and the tenant to document any problems with the suite and ensure that both parties are happy with the condition of the apartment.
Moving day for a tenant is another mandatory time for inspection. Again, it will help you determine the condition of the apartment and if any damage has occurred.
Here’s the Deal:
Your tenants are likely to take better care of their apartment if they know that you will be doing these inspections.
Maintenance Needs
It is important that you also include in your lease agreement that you will be performing routine maintenance inspections. This inspection is a great way to ensure that your building is not falling apart and will also keep your tenants happy, as you are looking out for their safety and well-being. Things to look for when performing a routine maintenance inspection:
Mold and water damage around the kitchens and bathrooms.If appliances are in good working order.If the heating and cooling systems are in proper working order.
Questionable Conduct
Another thing to keep an eye out for is any type of questionable conduct that may be occurring in a rental suite. This includes:
If you have a no pet rule and it has been outlined in the lease agreement.Unauthorized occupants living in the suite, such as a family member or significant other.Any type of illegal activity.
By following these general inspection guidelines, you should be able to keep your renters happy, your multifamily building in great shape, while at the same time respecting your tenants’ privacy.
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