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.
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