Tuesday, 12 December 2017

Should I Sell My Home Now or Wait Until the Spring?

There are many questions homeowners ask themselves during the selling process. "How much will my home sell for?"  "How much should I list my home for?"  "Who should I select as a real estate agent to sell my home?"  "What if the real estate agent overprices my home?"  Last but not least, "Is this a good time to be selling a home?" is also a very common question that real estate agents are asked.
As with every decision in life, there are pros and cons, and choosing when to sell a home is no different. There are many factors that need to be taken into consideration before deciding when to sell a home. Many homeowners believe selling a home during the fall or winter months is not a good idea and that the spring is the only time a house should be sold. This is the furthest from the truth. Certainly most real estate markets across the United States experience a "spring market rush" every year. There is no doubt that the "spring market" is a great time to be selling and buying real estate, however, the fall and winter seasons may be the best fit for you for many reasons.
Here are several reasons why choosing to sell your home now may be a better decision than waiting until the spring:
Less Competition
One way that you can tell the spring real estate market has arrived is by driving down a street in your local community. In all likelihood there will be For Sale signs up all over the neighborhood! One great reason to sell your home now and not wait until the spring market is there is sure to be less competition.  The fewer number of comparable homes for sale, the greater the probability that a buyer will look at your home.
Simply put, it’s the supply and demand theory. If there are less homes for sale, there are less homes that a potential buyer can choose from, therefore increasing the demand for your home. Not only will less competition increase the probability for showings, but it will also increase the probability that an offer will be received and you will get the maximum amount of money for your home.
Serious Buyers Are Out There
Homes are sold and bought 365 days a year, period!  Many homeowners believe that buyers aren't out there during the fall and winter months. This simply is not the case. Serious buyers are always out there!  Some buyers may stop their home search because it is the fall or winter, but serious buyers will continue to look at homes, no matter what time of year it is.
The fall and winter months are also a great time for a potential buyer to see what a specific neighborhood is like.  Do your neighbors have pumpkins on their front step?  Are there lots of Trick-or-Treaters wandering the neighborhood on Halloween?  Do any of your neighbors have any light displays for the holidays?  There are buyers out there who will look at these types of things when determining whether your home is in the right neighborhood for them or not.
The Best Agents Are Always Up To The Challenge
Any real estate agent who tells you that the fall or winter months are a bad time to sell is not someone you want selling your home! A great real estate agent will know how to adapt to the current season and market their listings to reflect that.  A great real estate agent can make suggestions and give some of their tips on how to sell a home during the fall or winter seasons. If a real estate agent doesn't have any suggestions on making your home more desirable for the current season, you should be concerned about the creativity they are going to use when marketing your home.
Staging For The Holiday Season
Many sellers believe staging a home is the main reason a home sells.  While staging certainly helps sell homes, some buyers have a difficult time envisioning themselves in a home no matter what you do. However, there are some buyers who can easily be "sold" on a home because it is staged.  Simple “seasonal” staging such as adjusting the color of the decor or having an aroma in the air that is relative to the time of year can go a long way with some potential buyers and possibly be the difference between a home selling or not.
Mortgage Rates Are Low
If you've read about real estate in the past year, it's likely you've read that the mortgage rates are very low.  You also probably read that there is an expectation that the rates will increase very soon. Since mortgage rates are so low right now, buyers are able to afford more expensive homes.  If mortgage rates increase over the fall and winter months while you're waiting for the spring market, it could cost you thousands of dollars as it could eliminate many buyers from the real estate marketplace!  Less demand for your home will mean less money. Bottom line: take advantage of selling your home while the rates are this low.
Quicker Transactions
Right now, there are fewer real estate transactions than there will be in the spring.  The fewer number of transactions means the mortgage lenders have less loans to process, attorneys have less closings to do, and home inspectors have fewer inspections to do.  All of these factors should lead to a quicker transaction and closing for all the parties involved.  One of the most frustrating things for a seller to deal with while selling their home is not getting answers in a reasonable amount of time. A quicker transaction is going to be less stress for you.
By considering all of the reasons above, you will be able to determine whether now is a good time to sell or if you should wait until the spring.

Are you interested in selling 
your home in the next few months? 

Work with award winning realtor, Carmen Leal and her team that specialize in Real Estate Downtown Vancouver and have qualified Buyers that are looking for a home in your area! 
Contact carmen to list your home today! 
Get a hold of Carmen directly at 604.218.4846 or email carmen@carmenleal.ca to arrange an appointment.

Thursday, 30 November 2017

Massive Northeast False Creek area plan to transform waterfront

The City of Vancouver held an open house for the Northeast False Creek area plan today, showing off building models and future road networks to replace the viaducts.

The area covered by the plan is massive, and runs along the waterfront from Smithe Street inland to Gore Avenue. It’s also adjacent to the new St. Paul’s hospital proposed for the False Creek Flats, east of Station Street, and will include a new arterial route to take pressure off Prior Street.

The land is the last, large piece of undeveloped waterfront property in downtown Vancouver, and is owned by several property developers, as well as the City of Vancouver, who owns the parcels of land east of Quebec Street where the viaducts currently are.


Redevelopment of Metrotown Sears site includes 65-storey tower

The rezoning of the Sears site at Metrotown in Burnaby is moving ahead at the same time the retailer liquidates its department stores across the country and prepares to shut down.

Concord Pacific has owned the Metrotown Sears site for several years, and is preparing to begin phase one of the redevelopment, which will see three new residential towers built on the Sears parking lot at the corner of Kingsway and Nelson.

Metro Vancouver rental vacancy rate remains under 1%: CMHC

Despite record construction across Metro Vancouver over the past year, the area’s apartment rental vacancy rate remains below 1%, according to a Canada Mortgage and Housing Corporation report released November 28.


Thursday, 9 November 2017

Vancouver warns owners of empty homes to fill out new declaration forms, or face stiff fines

Vancouver's empty home tax will be charged on any homes left empty or occupied for less than six months per year

VANCOUVER — Vancouver, fighting a rental shortage in Canada’s most expensive property market, warned owners of empty homes on Tuesday that they faced stiff fines if they failed to fill out empty-home tax declaration forms that they had been sent in the mail.
Home owners who do not to submit the declaration by Feb. 2, 2018 will be automatically charged the 1 per cent tax on the assessed value of their home. Owners who make false claims will also face a steep fee of $10,000 per day, the city said.

For the full story click HERE

Starting rents may exceed $3,000 for a three-bed at proposed East Vancouver development

Click HERE for full story

Monday, 2 October 2017

The Anatomy of Condo Price Rises

A real-life scenario revealing why condos sell for more and more – plus great tips for buyers.

Click HERE  for the full story.

Saturday, 30 September 2017

Friday, 1 September 2017

What’s pushing Vancouver home prices higher now?

Home prices in Vancouver continue their ascent a year after the BC government imposed a foreign-homebuyer tax on the metro area a year ago, and it has a lot to do with an insufficient supply of housing, TD Bank observes.
“We don’t anticipate a significant drop in home prices in any way. Interest rates are going up but they’re going up very gradually, and really what matters is the supply-demand balance of home price,” Diana Petramala, TD Bank economist, tells BuzzBuzzNews.
For the full story click HERE

Tuesday, 29 August 2017

Vancouver Holds On in World’s Top 3 Most Liveable Cities

Despite its points sliding slightly, Vancouver has held onto its third-place ranking for the seventh consecutive year in what is arguably the most-respected global liveable cities chart.
The Economist Intelligence Unit (EIU) placed Vancouver third under Melbourne, Australia and Vienna, Austria. Toronto came in fourth place, just a hair behind Vancouver in points, whereas in previous years Vancouver enjoyed a bigger lead over Toronto. Calgary was in joint fifth place with Adelaide, Australia.

B.C. tenants are about to get hit with the largest rent increases allowed in five years

Every year, the B.C. Residential Tenancy Branch sets the maximum allowable percentage by which landlords are legally permitted to increase rents.
Because there is an acute housing shortage in Vancouver, it means that that percentage is the exact amount by which most landlords do raise rents.
Yesterday (August 23), the Residential Tenancy Branch revealed this number for the year ahead, and it’s a big one.
In 2018, landlords are permitted to increase rents in B.C. by four percent.

Thursday, 3 August 2017

Chinese buyers prefer Montreal over Vancouver

Data from a Chinese real estate website has revealed that Montreal will eclipse Vancouver as the top destination for Chinese investors.

Montreal will surpass Vancouver this year as the Canadian destination for mainland China-based real estate investors, according to China’s largest foreign-market real estate portal.
The data is based on 2017 property searches on Juwai.com, the No. 1 Chinese international property portal with more than two million monthly visitors from China. The survey revealed that the United States remains the top market for Chinese investors, with Canada in fourth place, ahead of the United Kingdom but behind Australia and Hong Kong.
For the whole story click HERE

Vancouver’s benchmark house price cracks $1M

VANCOUVER – The Real Estate Board of Greater Vancouver says the typical price of a home in Metro Vancouver has surpassed $1 million.
The board says the composite benchmark price for all residential properties in the area is currently $1,019,400, up 8.7 per cent from July 2016.
The benchmark price for detached properties in the area is about $1.612 million, for attached properties $763,700 and for apartments $616,600.

While home prices jumped, there were more listings and fewer sales in Metro Vancouver last month.
*For the entire story click HERE to continue reading.

Monday, 3 July 2017

Canadian Mortgage Rates Could Start Rising 'As Soon As July'

Canada’s economy is red-hot these days. And that’s the principal reason why Canadians could see mortgage rates rising before the end of the year.
In the first quarter of this year, Canada recorded a 3.7-per-cent annualized pace of economic growth, the strongest among G7 countries. Canada added 77,000 full-time jobs in May, and over the past year, the country has seen total jobs increase by 1.8 per cent, faster than population growth.


 CARMENLEAL.CA - 604.218.4846

Friday, 23 June 2017

2202 939 Homer Street WWW.CARMENLEAL.CA 604.218.4846

Check out my new Cinematic Film for my New Listing.

Hope you all enjoy it!

Open House Saturday, June 24 & Sunday, June 25 from 2pm to 4pm

Thursday, 8 June 2017

803 1239 W Georgia St Vancouver WWW.CARMENLEAL.CA 604-218-4846

Check the amazing Cinematic Film for my new listing at 803-1239 West Georgia Street in Coal Harbour

Open house Saturday June 10 & Sunday June 11 from 2pm to 4pm

Friday, 2 June 2017

Vancouver real estate market heating up again as sales and prices recover from buyers tax

Realtors in Canada’s most expensive city for housing report that market activity returned to near record levels in May, a mere nine months after the province introduced a 15 per cent tax on foreign buyers.

For the full story click HERE

Saturday, 27 May 2017

Carmen Leal- Vancouver Real Estate: Coming Soon!!! One bedroom + FLEX in the BRAVA wit...

Carmen Leal- Vancouver Real Estate: Coming Soon!!! One bedroom + FLEX in the BRAVA wit...: Carmen Leal    presents...... One bedroom + flex located at the BRAVA - 1155 Seymour Street with open views of the city...

Coming Soon!!! One bedroom + FLEX in the BRAVA with open views of the city.

Carmen Leal    presents......

One bedroom + flex located at the BRAVA - 1155 Seymour Street with open views of the city. 

Enjoy city views and the best of downtown living.
NW corner unit offers a great/functional layout.
SS appliances, granite counter tops, hardwood flooring, floor to ceiling windows. Great amenities include an outdoor pool, hot tub, sauna, party room, gym, guest rooms + 24 hr concierge. This suite includes 1 parking & 1 locker. Rentals and pets are welcome.

Stay tuned for further details. 
If you have any questions give Carmen a call at 604-218-4846 or send an email at carmen@carmenleal.ca

Wednesday, 3 May 2017

Vancouver Home-Price Surge Defies Canadian Housing Jitters

  • Cost of typical home rises 11% in April from a year earlier
  • Buyers in ‘fierce’ competition as condos get multiple offers

Ripples from the downward spiral of mortgage lender Home Capital Group Inc. haven’t yet reached Vancouver.
The cost of a benchmark home in the Pacific Coast city surged 11 percent to C$941,100 ($685,233) compared with a year earlier, the Real Estate Board of Greater Vancouverreported Tuesday. Condominiums were the big gainers, climbing 17 percent to C$554,100.

For the full story click HERE

Monday, 13 March 2017

Infographic: Greater Vancouver Real Estate, February 2017

Greater Vancouver Real Estate Break Down as of February 2017

Check out the info graphics below:

To read the full news story, click here.

Monday, 6 March 2017

Greater Vancouver condo prices rise despite tumbling sales

Prices for condos and town homes are climbing in Greater Vancouver, despite tumbling sales.

Total sales volume last month range in 7.7 per cent under the 10-year February average. But the number of residential transactions last month rose 59.2 per cent compared with January, marking the first time that sales have increased month over month since March, 2016.



Carmen Leal *PREC
Macdonald Realty Ltd.

Monday, 30 January 2017

B.C. Premier Christy Clark to lift foreign buyers tax for those with work permits

Premier Christy Clark announced Sunday that foreigners with work permits who live and work in B.C. will be exempted from the province’s 15-per-cent homebuyers tax.
Clark made the statement during a scrum at Vancouver’s Chinatown Lunar New Year Parade in response to questions on U.S. President Donald Trump’s travel ban on people from seven predominantly Muslim countries.
For the full article please Click HERE

Monday, 16 January 2017

Tiny-house movement gets big push forward in Vancouver campaign

Very interesting read!

The tiny-house movement has been percolating in North America for two decades, as people have looked for ways to reduce the cost of housing and live a simpler life.
It’s getting a big push in Metro Vancouver this year, as two local women have ramped up a campaign to promote the idea of living in small, portable houses of less than 500 square feet, as well as to get buy-in from local municipalities.  To continue on the full article click HERE


Carmen Leal Personal Real Estate Corporation

Website: www.carmenleal.ca
Direct: 604-218-4846
Email: carmen@carmenleal.ca

Sunday, 1 January 2017

Vancouver’s interest-free loans for homebuyers

A Canadian province has an unusual offer for first-time buyers struggling to enter one of the world’s hottest property markets — a cheap loan to bulk up their down payment.
"If there’s no new supply, giving people more money just leads to higher prices"
Starting Jan. 16, 2017 British Columbia — home to Vancouver, the nation’s most expensive real estate market — will start a program to match the nest eggs saved by buyers for their first house by up to $37,500 or 5 per cent of the purchase value.
The unconventional step comes as policymakers scramble to respond to surging home prices in Vancouver and Toronto that have turned Canada into one of the world’s fastest-appreciating real estate markets. Households have racked up a record $2 trillion in debt amid rock-bottom borrowing costs, triggering concerns about the stability of the financial system.
‘Ample Support’
“Too much encouragement to buy homes exposes vulnerable people to excessive financial risk, pushes prices higher where acute supply inelasticity exists – like here in Vancouver – and jeopardizes our economic prospects.”
"Worse, those poor buyers will end up paying higher property taxes than they would’ve otherwise"
Policy measures to cool the market have all addressed demand, not supply. They include a 15 per cent tax of foreign buyers in B.C., stricter federal government mortgage rules, and plans to tax empty homes in Vancouver.
Supply, on the other hand, has stalled, failing to respond to a nearly 40 per cent increase in Vancouver prices earlier this year. The inventory of homes for sale is at its lowest in almost a decade, even as the price of a typical single-family home surged to $1.5 million, about 20 times what the median household earns in a year.
Facing Election
B.C. Premier Christy Clark, whose Liberal Party faces re-election in May, insisted the new program doesn’t encourage risky loan taking, saying only those who meet the newly tightened federal mortgage rules will qualify. It will also be restricted to households earning up to $150,000 and purchasing a property that’s worth $750,000 or less.
The 25-year loans will have no interest or repayments for the first five years.
Different Directions
Lenders won’t treat that government funding as equity because it’s a loan, meaning it won’t reduce the burden on the buyer of saving up — it just lets them pay less for the first five years.
The Bank of Canada said Thursday before B.C.’s announcement that elevated levels of household debt and imbalances in the housing market remain the primary risks to the country’s financial system, but that new rules — including mortgage-tightening ones introduced in October — will mitigate those dangers.

For further information:
Contact Carmen Leal at Carmen Leal Personal Real Estate Corporation. 604-218-4846 Email: carmen@carmenleal.ca Website: www.carmenleal.ca