As a realtor, we understand that selling your home can be an emotional and overwhelming process. That's why we are committed to not only getting you the best price for your property, but also ensuring that you feel confident and happy with the entire experience.

When it comes to showcasing your home to potential buyers, we use our extensive knowledge and expertise to highlight all the unique features and benefits of your property. From the stunning architecture and design to the convenient location and neighborhood amenities, we make sure that every aspect of your home is presented in the best possible light.

Our team takes the time to truly understand what makes your home special and tailor our marketing strategy to showcase those unique features. We use a variety of tools and techniques to reach the right buyers and create a buzz around your property, including professional photography, virtual tours, and social media advertising.

But what sets us apart is our commitment to building a relationship with you, the homeowner. We understand that selling your home is not just a financial transaction, but an emotional one as well. That's why we take the time to listen to your concerns, answer your questions, and provide the support you need throughout the entire process.

When we say that what we say about your home will be so good that you will want to stay in it, we mean it. We don't just see your property as a listing, but as a home that holds memories, experiences, and emotions. Our goal is to honor that by presenting your home in the best possible way and creating a positive and stress-free selling experience.

So if you're ready to sell your home and want to work with a team that is committed to your satisfaction, contact us today to schedule a consultation. We look forward to helping you achieve your real estate goals and making your selling experience a success.

VANCOUVER, BC – April 3, 2023 – Home prices across Metro Vancouver’s1 housing market showed modest increases in March, while new listings remained below long-term historical averages.

March data also indicates home sales are making a stronger than expected spring showing so far, despite elevated borrowing costs.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,5352 in March 2023, a 42.5 per cent decrease from the 4,405 sales recorded in March 2022, and 28.4 per cent below the 10-year seasonal average (3,540).

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,143,900. This represents a 9.5 per cent decrease over March 2022 and a 1.8 per cent increase compared to February 2023.

“On the pricing side, the spring market is already on track to outpace our 2023 forecast, which anticipated modest price increases of about one to two per cent across all product types,” Andrew Lis, REBGV’s director of economics and data analytics said. “The surprising part of this recent activity is that these price increases are occurring against a backdrop of elevated borrowing costs, below-average sales, and new listing activity that continues to suggest that sellers are awaiting more favorable market conditions.”

There were 4,317 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in March 2023. This represents a 35.5 per cent decrease compared to the 6,690 homes listed in March 2022, and was 22.3 per cent below the 10-year seasonal average (5,553).

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 8,617, an 8.1 per cent increase compared to March 2022 (7,970), and 17.3 per cent below the 10- year seasonal average (10,421).

Across all detached, attached and apartment property types, the sales-to-active listings ratio for March 2023 is 30.7 per cent. By property type, the ratio is 23.3 per cent for detached homes, 36.7 per cent for townhomes, and 34.9 per cent for apartments.

Analysis of historical data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

“If home sellers remain on the sidelines, monthly MLS® sales figures will continue to appear lower than historical averages as we move toward summer,” Lis said. “But it’s important to recognize the chicken-and-egg nature of these statistics. The number of sales in any given month is partially determined by the number of homes that come to market that month, along with the inventory of unsold homes listed in previous months. With fewer homes coming on the market, homes sales will remain lower than we’re accustomed to seeing at this point in the year, almost entirely by definition.”

Sales of detached homes in March 2023 reached 734, a 43.6 per cent decrease from the 1,302 detached sales recorded in March 2022. The benchmark price for detached properties is $1,861,800. This represents an 11.2 per cent decrease from March 2022 and a 2.7 per cent increase compared to February 2023.

Sales of apartment homes reached 1,311 in March 2023, a 43.2 per cent decrease compared to the 2,310 sales in March 2022. The benchmark price of an apartment property is $737,400. This represents a 4.6 per cent decrease from March 2022 and a 0.7 per cent increase compared to February 2023.

Attached home sales in March 2023 totalled 466, a 37.3 per cent decrease compared to the 743 sales in March 2022. The benchmark price of an attached unit is $1,056,400. This represents a 7.8 per cent decrease from March 2022 and a 1.7 per cent increase compared to February 2023.

1. Editor’s Note: Areas covered by the Real Estate Board of Greater Vancouver include: Bowen Island, Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver, and Whistler.

2. REBGV is now including multifamily and land sales and listings in this monthly report. Previously, we only included detached, attached, and apartment sales, and these additional categories, which typically account for less than one to two per cent of total MLS® activity per month, are being included for completeness in our reporting.

The Real Estate Board of Greater Vancouver is an association representing more than 15,000 REALTORS® and their companies. The Board provides a variety of member services, including the Multiple Listing Service®. For more information on real estate, statistics, and buying or selling a home, contact a local REALTOR® or visit www.rebgv.org.

For more information please contact:
Craig Munn
V.P., Communication and Events
Real Estate Board of Greater Vancouver
604.730.3146
cmunn@rebgv.org

When you’re preparing your home for a sale, you should declutter as much as possible. That makes your property appear neater and more spacious to buyers.

However, that doesn’t mean you have to toss items in the trash or haul them to a landfill site. There are many other, more environmentally-friendly ways to dispose of unwanted items.

One popular technique is to sell them online. Even if you think an old chair isn’t worth much, as the saying goes, “One person’s junk is another’s treasure.” There are several websites for selling items quickly, including Facebook Marketplace. In fact, you can list items today and potentially sell them this week. Just be sure to set prices low, as people tend to look for deals on these sites.

You can also give away items. Post items you’re willing to part with for free on your community’s Facebook page. You can also pin a poster to an announcements board in your neighbourhood.

Donating items is also an option. There are many charities that accept items such as clothes, furnishings, tools, kitchenware, and sports equipment. Google “Where to donate items” and then add the name of your area.

Finally, an old-fashioned garage or yard sale can be effective. Place signs throughout your neighbourhood announcing the sale. Start your sale early. Many hardcore garage sale lovers will be there as soon as you open, even if that’s 7am!

There are many reasons homeowners may need to sell their property — fast. Work relocations, changes in family makeup, and financial needs are among the most common.

If you find yourself in a position where you need to sell quickly, you don’t necessarily have to go to market with a temptingly low price. Here are some other ways to accelerate the sale of your home:

1. Make your property as move-in ready as possible. Get any needed repairs done. Ensure everything is tidy.
2. Hire the help you need. Getting a professional to do some or all of the prep work, will save you time. And, the cost may be offset by a boost to your home’s sale-value.
3. Use the latest staging techniques to make your home look great to buyers. Staging is proven to help sell a property faster.
4. Remove as many impediments to a quick sale as possible. Consider offers with conditions. Be flexible when it comes to a buyer’s need for a particular closing date.
5. Accommodate as many viewing appointments as possible in the early days of the listing. They may be inconvenient, but the more buyers see your property, the more likely you are to get a quick offer.
6. Make sure your home is marketed in a way that attracts qualified buyers, quickly.

These are just some of the many ways to list and sell your property, faster, while still getting a good price. There are other techniques that can be employed, depending on your listing and market conditions.

Want to learn more? Call me!

Imagine you’d been keeping your eye on a desirable neighbourhood over the years. You had hoped that one day you could buy a home there. But, then you saw prices creeping up — to a point where they became unaffordable.

“Oh well,” you’d thought. “I guess we won’t be moving there!”

That scenario is familiar to many homeowners. In fact, you too may have been keeping your eye on a neighbourhood you’d love to get into but have decided it’s become too expensive.

If that’s so, it might be worth taking a second look.

The real estate market changes. One year an area might be a red-hot seller’s market with prices soaring. The next year, things may have cooled, and prices stabilized.

That means the desirable neighbourhood you’ve been coveting might, today, be more affordable than you think. Prices might have become more reasonable. There might be more inventory (more homes for sale), giving you, the buyer, a competitive edge.

And, don’t forget that your own property may have gone up in value, perhaps considerably. That means the money you make from selling your home may make buying in the desirable neighbourhood doable.

It’s something to think about!

So, if you’re dreaming of getting into a particular neighbourhood, don’t make assumptions about affordability. At least, not yet. Find out the current state of the market. You might be delighted to learn that the “un” has been dropped from the previously unaffordable for that area!

When preparing your property for sale, you want to make it as attractive as possible to buyers. After all, the more buyers like what they see, the higher the probability you’ll get good offers.

That’s why it’s advisable to clean, declutter, decorate, fix, and improve as much as possible.

But, how far should you go with fixing and improving? For example, should you tear down the old deck and build a new one? Or, should you leave it as is?

Should you paint the main floor? Or is it okay to leave the faded finish and few wall dents just as they are?

Those can be difficult questions to answer because many factors come into play.

• What is the traditional return on investment for that home improvement? (In other words, how much will you get back when you sell?)
• To what degree will the fix or improvement help sell your home faster and/or for a higher price?
• If you don’t make the fix or improvement, will those deficiencies be likely to dissuade buyers who would otherwise be interested in buying your property?
• What are the current market conditions? Are there other listings in the area competing with yours?
• How much will the fix or improvement cost? Is it affordable, given the benefits of having a listing that’s more attractive and move-in ready?

Once you have answers to those questions, you’ll have a clearer idea of whether to fix it or leave it as is.

It’s official: you’ve signed the papers, dotted all the i’s and crossed the t’s—you own a new home! You’ve almost reached the end of your journey. However, now, faced with the daunting task of moving, it may seem as though the journey has just begun. Moving can be a time-consuming and stressful experience if you let yourself be overwhelmed by the job. Remember, though, having a successful move means taking care of the details, one by one. If you break the process down into steps and arrange your time accordingly, you can make it manageable. Use the following checklist to ensure you’re covering all the bases, and you will be well on your way to a successful move!

Household
• Arrange to have your mail forwarded to your new address.
• Forward or cease all deliveries to your home, and forward or cancel newspaper and magazine subscriptions.
• Disconnect or take care of utility, cable and phone services and accounts.
• Arrange for utilities to be connected at your new house.
• Cancel pre-authorized bill payments.
• Begin going through closets and discarding any unnecessary items.

Packing
• Plan your packing. Start by purchasing or acquiring suitable containers. Most moving companies have specialized containers you can buy. Also, speak with others who have recently moved—they may be looking to get rid of boxes. You’ll need the following: small boxes for heavy items (books, tools, etc.); large boxes for bulky items (bedding, stuffed toys, etc.); medium boxes for bulky but less heavy items (towels, small appliances, etc.).
• Begin to collect other packing materials. Decide which items you’ll need from the following checklist:
-White paper
-Tissue paper
-Paper towels
-Newspapers
-Non-printed paper
-Packing tape or twine to seal boxes and containers
-Scissors
-Labels and stickers (available from your moving company)
-Felt marker to label boxes
-Notebook and pen for listing contents
• Set goals and deadlines for yourself. Aim, for example, to pack one room per week.
• Attach a list of contents to each box. Separate and label boxes to be placed in storage.
• Consider holding a garage sale to rid yourself of excess belongings.
• Begin to use up the food in your pantry and freezer. Let the food you already have dictate your menus.
• Have rugs cleaned that are to be moved, then roll and wrap them.
• Make special arrangements for the moving of plants or pets.
• Collect all personal items from local services (dry cleaning, storage, photos).
• Service all appliances you are taking with you. Note that all gas appliances must be emptied, as it is illegal for movers to carry flammable substances.
• Take inventory of all the boxes, and contents of the boxes, you have packed.
• Have your car serviced and tuned up.

Community
• Return library books.
• Clean out your locker at any club you are leaving.
• Determine how to transfer your children to a new school.
• Return items you’ve borrowed to friends, and collect any you’ve lent.
• Mail or e-mail change of address notices to family members, friends, and office contacts.
Records
• If needed, transfer medical and dental records, and fill prescriptions.
• Change the address on your driver’s license.
• Change the billing address for credit cards.
• Change the address for banking statements.
• Leave a record of security codes for new tenants.
Insurance and Legal Matters
• Visit your lawyer and ensure all documents are signed.
• Notify your insurance company well in advance of the move and ask them to review your policy.
• Transfer insurance to your new home, or acquire new insurance.
• Review your moving company’s insurance policy. If it doesn’t cover as much as you’d like it to, obtain your own.
• If you are currently renting a house or apartment, give written notice to the landlord.
• Have all keys to your old home delivered to your lawyer or realtor.

VANCOUVER, BC – February 2, 2023 – Inventory remains low in Metro Vancouver* while
home sales dipped well below monthly historical averages in January.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the
region totalled 1,022 in January 2023, a 55.3 per cent decrease from the 2,285 sales recorded in
January 2022, and a 21.1 per cent decrease from the 1,295 homes sold in December 2022.
Last month’s sales were 42.9 per cent below the 10-year January sales average.

“Due to seasonality, market activity is quieter in January. With mortgage rates having risen so
rapidly over the last year, we anticipated sales this month would be among the lowest in recent
history,” said Andrew Lis, REBGV’s director, economics and data analytics. “Looking forward,
however, the Bank of Canada has said that it will pause further rate increases as long as the
incoming economic data continues to support this policy stance. This should provide more
certainty for home buyers and sellers in the market.”

There were 3,297 detached, attached and apartment properties newly listed for sale on the
Multiple Listing Service® (MLS®) in Metro Vancouver in January 2023. This represents a 20.9
per cent decrease compared to the 4,170 homes listed in January 2022 and a 173.4 per cent
increase compared to December 2022 when 1,206 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is
7,478, a 32.1 per cent increase compared to January 2022 (5,663) and a 1.3 per cent increase
compared to December 2022 (7,384).

For all property types, the sales-to-active listings ratio for January 2023 is 13.7 per cent. By
property type, the ratio is 10.2 per cent for detached homes, 13.4 per cent for townhomes, and
16.7 per cent for apartments.

Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12
per cent for a sustained period, while home prices often experience upward pressure when it
surpasses 20 per cent over several months.

“We know the peak for prices in our market occurred last spring. Over the coming months, yearover-
year data comparisons will show larger price declines than we’ve been reporting up to
now,” said Lis. “It’s important to understand that year-over-year calculations are backwardlooking.
These price declines already happened, and what we are seeing today is that prices may
have found a footing, even if it’s an awkward one sandwiched between low inventory and higher
borrowing costs.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro
Vancouver is currently $1,111,400. This represents a 6.6 per cent decrease over January 2022
and a 0.3 per cent decrease compared to December 2022.

Sales of detached homes in January 2023 reached 295, a 52.6 per cent decrease from the 622
detached sales recorded in January 2022. The benchmark price for a detached home is
$1,801,300. This represents a 9.1 per cent decrease from January 2022 and a 1.2 per cent
decrease compared to December 2022.

Sales of apartment homes reached 571 in January 2023, a 56.6 per cent decrease compared to the
1,315 sales in January 2022. The benchmark price of an apartment home is $720,700. This
represents a 1.1 per cent decrease from January 2022 and a one per cent increase compared to
December 2022.

Attached home sales in January 2023 totalled 156, a 55.2 per cent decrease compared to the 348
sales in January 2022. The benchmark price of an attached home is $1,020,400. This represents a
three per cent decrease from January 2022 and a 0.8 per cent increase compared to December
2022.

-30-

*Editor’s Note: Areas covered by the Real Estate Board of Greater Vancouver include: Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver, and Whistler.
The Real Estate Board of Greater Vancouver is an association representing more than 15,000 REALTORS® and their companies. The Board provides a variety of member services, including the Multiple Listing Service®. For more information on real estate, statistics, and buying or selling a home, contact a local REALTOR® or visit www.rebgv.org.

For more information please contact:
Craig Munn
V.P., Communication and Events
Real Estate Board of Greater Vancouver
604.730.3146
cmunn@rebgv.org

Imagine you’re at the grocery store shopping for oranges. Two brands are available: the “Amazing Orange” and the “Super Orange.”

Which would you choose to buy?

Chances are, you wouldn’t decide based on their similarities. For example, since both oranges contain vitamin C, using that as a buying criteria wouldn’t help you choose between them. Instead, you would probably look for differences. What does one brand have that the other does not? Maybe one is less expensive, organically farmed, or is seedless!

When people make buying decisions, they often look for differences.

So, if you’re thinking of selling your property, highlighting its unique and desirable features — its differences from comparable homes — is crucial.

How do you do that?

The first step is to make a list of those special features you want buyers to notice. Those might include a new and spacious deck, extra high ceilings, a finished basement, move-in readiness, and other characteristics.

Next, you want to make sure those features are emphasized in marketing materials and when staging your home.

There are many ways to emphasize features through staging. For example, if the deck is a desirable feature, ensure it’s well-lit in the evenings (for after-dusk viewings.) Also, make it easy to see when buyers are in your home, by having the curtains pulled back. You may be able to explore other ways to ensure buyers notice and appreciate the deck too.

Differences make a difference! Show them off when selling.

Are you thinking of selling your home this year? If so, you might be paying extra attention to housing market news covered by the regional and national media.

While that news can be helpful information, it can sometimes say little about what’s happening in your particular neighbourhood. In fact, it’s possible for there to be a balanced market nationally or regionally, while at the same time your street may be experiencing a hot seller’s market!

That’s why it’s important to understand what’s happening in your local “micro” housing market when you’re selling your home.

What do you need to know about your local real estate scene? Here are a few questions to ask yourself:

• Is our neighbourhood a seller’s, buyer’s, or balanced market right now?
• If we list our home this month, will there be any competing listings in our area? If so, how many?
• How long is the average listing in our area taking to sell? A week? A month?
• How much are properties like ours in the neighbourhood selling for?
• How desirable is our neighbourhood? How many buyers are actively looking to move here? Are there currently buyers eager to purchase a home like ours?
• What are the demographics of buyers looking to buy in our neighbourhood?
• How important is it to fix up and stage my home if I decide to sell?

Getting these local insights will be far more helpful than the national news when you put your property on the market. So, find out what’s happening right here, in your neighbourhood.

The process of buying or selling a house seems to involve a million details. It is important that you educate yourself on as many parts of this process as you can—this knowledge could mean the difference of thousands of dollars in the long-run. The legal issues involved in the process are often particularly intricate, ranging from matters of common knowledge to subtle details that might escape the untrained eye. Any of these issues, if not handled properly, could develop into larger problems

With so many legal issues to consider, your first step should be to seek out experienced professionals to help educate you and represent your best legal interests. Begin with an experienced real estate agent, who can help guide you through the initial hoops. S/he should also be able to point you in the direction of a reputable local real estate lawyer to assist you in all legal matters involved in the purchase or sale of your house.

While there are countless legal details involved in a real estate transaction, some seem to pose larger problems than others. We’ve outlined two legal clauses that are commonly misunderstood and may cost you money if not worded correctly. Handle these carefully and you will be on track to a successful sale or purchase!

1. Home Inspection Clause

Some real estate transactions have been sabotaged due to the wording of the home inspection clause. This clause originally allowed that the buyer has the right to withdraw their offer if the home inspection yielded any undesirable results. However, this allowance was known to backfire, as Buyers took advantage of it, using some non-issue stated in the inspection as an excuse for having changed their minds. Of course, this was unfair to the Sellers, as they’d poured time and money into what they believed was a sure deal. Not only might they have missed out on other offers in the interim, but their house might also now be unfairly considered a “problem home.” Additionally, they’d now have to shoulder the costs of continuing to market the property. All of this adds up.

In order to remedy this potential problem, the clause should indicate that the seller has the option of repairing any problems the home inspection might point to. With this slight change in the clause, both buyer and seller are protected.

To ensure this clause is fair from one side of the bargain to the other, work closely with a lawyer experienced in these transactions and all the nuances that may affect the outcome for you.

2. Survey Clause

It is the right of a home buyer to add a survey clause to the real estate contract on the home they’d like to purchase. If you are on the selling end of the contract, be aware.

If you have added an addition or a pool to your property since the last survey was produced, your survey will no longer be considered up-to-date and the Buyer may request that a new one be drawn up—the cost of which you will incur. The price of this process will run anywhere from $700 to $1000.

Your real estate agent has the responsibility to provide you with the most recent survey of your home. It is then the Buyer’s right to decide if it is acceptable. An experienced agent should offer you reliable counsel if you encounter an issue with this clause, but it is advisable to talk to your lawyer if you’re unsure at all of the potential ramifications involved. Remember, the wording of this clause could cost or save you thousands of dollars

Finding the right strata property for you

If you plan to buy a strata property, it’s important you work closely with a REALTOR®.

REALTORS® help clients thoroughly investigate a strata property before making a buying decision. REALTORS® have access to the resources and information strata property buyers need to assess potential problems in strata buildings.

Before buying a strata property, here are evaluation measures to consider.

Review strata council minutes

Obtain copies of strata council minutes for the past year or more, along with:

• bylaws
• financial statements
• annual general meeting or special meeting minutes
• depreciation report
• any engineering reports that may have been completed.

Look for past problems, previous repairs, special assessments, legal cases and upcoming expenditures.

Also look for bylaws including rental, pets, and smoking or any other significant restrictions or local rules.

Ensure a maintenance program is in place

Read strata council minutes, engineering reports and the strata depreciation report and speak with the property manager to determine whether the building has a solid preventative maintenance program in place.

Check contingency fund

Under the Strata Property Act and regulations, a portion of strata owners’ monthly maintenance fees must go into a contingency reserve fund to pay for extraordinary repairs, such as a new roof or repairs to leaks. Currently, the minimum is 25 per cent of the strata's operating fund.

It’s important to determine whether the building has a substantial contingency fund to cover any upcoming expenses.

Check deprecation report

BC's Strata Property Act requires that stratas with five or more strata lots (units) must have a depreciation report. 

However, strata corporations may waive the legal requirement to have a depreciation report, or defer updating one, by passing an annual three-quarter vote.

Review the Property Disclosure Statement - Strata Title Properties

Sellers are encouraged to complete this form, which is a checklist to assist in disclosing concerns about the property's condition. Buyer should review it for any defects or potential problems and also to determine if parking stalls and storage lockers are attached to the unit and owned or are limited common property.

Investigate the warranty program and builder background

Whether the strata is new or resale, your REALTOR® can find out what type of warranty the building carries, noting the limits and duration of coverage. They may also be able to help find background information about the builder/developer of the project.

Consult a professional home inspector

You may consider hiring an accredited home inspection professional (one who is licensed carries errors and omissions insurance) to inspect the condition of the suite, common areas, and the overall building structure.