Your Fraser Valley Real Estate Market Update
  
Sales on the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) remained robust in June however, for the first time since last September, monthly sales did not break a historical record.
Here is the summary of the market for June, 2021
Total Sales Processed - 2,247 (Increase of 31% compared to June 2020)
Total New Listings - 3,108
Total Active Listings - 5,474
For the Fraser Valley region, the average number of days to sell an:
Apartment (Condos) -21 Days
Townhomes - 12 Days
Single Family Detached - 17 Days
Of the total transactions Fraser Valley Real Estate Board processed:
566 were Townhouses
615 were Apartments (Condos)
879 were Single Family Detached
HPI Benchmark Price Activity
Apartments/Condos
Benchmark Price - $493,500
Price increased 13.4% compared to June 2020
Price increased 1.0% compared to May 2021
Townhomes
Benchmark Price - $678,400
Price increased 21.2% compared to June 2020
Price increased 1.3% compared to May 2021
Single Family Detached
Benchmark Price - $1,324,400
Price increased 33.2% compared to June 2020
Price increased 0.1% compared to May 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.
7 Secrets of Profitable Landlords
Profitable landlords are on top of everything, from maintenance to late payment fees. To make sure you become a profitable landlord, it’s worth avoiding typical rookie mistakes and paying close attention to the following list.
1. Profitable landlords know their numbers
It’s not enough to calculate a mortgage, add on the profit you want, and rent out a property for that amount. There are a ton of other numbers you must consider. Here are just a few: property taxes, insurance, strata fees, vacancy rate, property management and maintenance & repairs.
2. Successful landlords know how to find the right rental properties
It is essential to have a good knowledge of real estate, especially in your local neighborhood. You need to know how much people are paying for rent in the area and for different properties.
3. Savvy landlords are aware of tax advantages
Don’t wait for the CRA to knock on your door and tell you how to reduce your tax bill. Profitable landlords will research tax information and determine exactly which expenses are deductible and which aren’t—saving a ton of money. It’s highly recommended that you hire an accountant to guide you through the tax process.
4. Landlords aren’t out to make friends
There is a balance between being a fair and reasonable landlord and trying to make friends. Successful landlords are kind, respectable, and reachable. However, you also don’t want to be dropping in for coffee every other week.
5. Always screen tenants
The best landlords know the importance of thoroughly screening every tenant. Don’t be tempted to take on any tenant because your property has been vacant for a while. If you panic, you rush the process and cause yourself costly problems in the future, such as expensive evictions.
6. The best landlords report tenants to credit bureaus
Profitable landlords understand the benefits of rewarding on-time rent payers and punishing those who are late—it’s the fair thing to do. Tenants who know you report to credit bureaus are less likely to fall behind on payments, which means fewer evictions to deal with.
Here is a great resource:https://landlordcreditbureau.ca/
7. They are exceptionally well-organized
Being organized from day one is an absolute must. It is good to get into an organized habit even if you’re starting with just one property. Ensure you have a well-organized system that you can scale up when you expand.
You will need to keep a record of:
* Signed agreements
* Rental payments (due dates and late fees)
* The payment of property taxes and insurance
* Copies of insurance policies
* Certificates and necessary inspections
Property managers can take away many of the day-to-day tasks of a property rental business, like maintenance, repairs, rent collection, property marketing, and tenant acquisition.
Wake up Earlier
Waking up early is one of the most agreed-upon methods for productivity, and yet many of us simply can’t force ourselves to start our day sooner. Yet the benefits are undeniable.
Now, this isn’t about waking up at 4 a.m. or trying to force night owls into becoming morning larks. Waking up earlier looks different for everyone, but its rewards are universal:
* You gift yourself alone time that isn’t infiltrated with work or personal distractions. That time is sacred and can set the tone for the rest of the day.
* You earn valuable mental-muscle-building skills in discipline, consistency and positive habit-building.
* You take charge of the day instead of your first act being a half-asleep swat at the snooze button.
Try these tips for waking up earlier, and tweak the process until it feels right for you.
1. Adjust your evening routine.
Good sleep starts with winding down. Swap TV time for a meditative sleep story and a cup of herbal tea. Leave your phone in the living room to avoid distractions.
2. Create a non-negotiable wake-up time.
No snoozing, no hesitation. When the alarm goes off, your feet hit the floor. Even a moment’s hesitation allows room for you to talk yourself out of getting up.
3. Don’t deprive yourself.
Waking up earlier isn’t a punishment. It’s a gift to yourself. If you’re struggling to fall asleep early enough to get the recommended amount of sleep, make time for midday naps.
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