There are A LOT of misconceptions about British Columbia’s Harmonized Goods and Services Tax and Vancouver Real Estate. The one I hear most is that HST will payable on all real estate transactions in BC. This is not true! HST in BC will ONLY BE PAYABLE ON BRAND NEW PROPERTIES! These are properties that have never been registered at the Land (more…)
It is the process Realtors use to ascertain the market value of the properties they market.
How do I do a Comparative Market Analysis?
1 ) Visit the property!
The first thing I do when requested to do a Comparative Market Analysis is to physically visit the property. Visiting the property is key! In my opinion, it is impossible to get an accurate idea of market value on a property without seeing the property. (more…)
Along with the rise of the Vancouver’s Pre Sale Condo market, the market for Pre Sale Condo Assignments has been a huge money maker for investors in Vancouver Real Estate.
What are Pre Sale Condo Assignments?
A Pre Sale Condo Assignment is when the original Buyer of a Pre Sale Condo sells their rights to a completed condo to another Buyer before that condo is completed. The reason the (more…)
I stand by what I said in a previous prediction on the Olympics and Vancouver Real Estate that there will be minimal transactions in Downtown Vancouver and surrounding areas because of Olympic security measures. Right after the Olympics there will be a spike in activity from demand caused by all the Buyers who were unable to buy during the time the Olympics are on.
What are your thoughts?
Please feel free to leave a comment, question, or suggestion below! Thanks!
Don’t Let Mortgage Penalties Bite you in the Backside – Check with your Lender Before you List!
A lot of people assume that when they sell a property they can pay off the principal of their mortgage with the sale proceeds and be done with their lender.
This is not the case.
A mortgage is a legally binding contract between you and your lender for you to pay them a stream of principal and interest payments for the term of the mortgage. The lender will h (more…)
Multiple Offers For Sellers
Rising prices in the Vancouver Real Estate Market have made Multiple Offer Situations very common. In multiple offer situations, competition or the risk of losing out on a desirable property disciplines and motivates Buyers to act decisively. Sellers are able to get market price for their properties very quickly in a relatively hassle free manner and the chance of getting an offer above the asking price is much higher.
Vancouver and Toronto — From Wednesday’s Globe and Mail Last updated on Wednesday, Jul. 15, 2009 09:27AM EDT
Mike Stewart has never been busier. After a brutally slow winter, the real estate agent has signed a string of deals and in May had his best-ever month, notching 10 sales in downtown Vancouver, adding another seven in June. (more…)
Its been said that a picture says a thousand words.
What do terrible Listing Photographs say about the value of your home?
Poor listing photography undervalues your property and will never convey how beautifully maintained and decorated your home is. Here in Vancouver, terrible (or non-existent) photography for listings is RAMPANT! Have a quick look on Realtor.ca and you can see how many listings have either bad or non-existent photos.
For the worst of the worst check out the blog Its a Lovely Listing for a good laugh.
Getting a professional photography is one of the best ways to get top dollar for your home. I have all my listings shot by the great folks at the Real Estate Channel and as you can see they do a great job.
So remember – If you want to get top dollar when you sell a property, get professional photography!
I’d love to hear your thoughts in the form of a comment below!
Selling tenanted properties in BC can be tricky and if done wrong, very expensive. Your tenants have been supporting your investment and helping you pay off your mortgage. Treat them like a partner when selling and it will save you money and stress.
3 WAYS TO KEEP YOUR TENANTS SWEET
1) Treat tenants courteously and professionally One of the best ways to to keep your costs down and stress levels low is to ensure a good and professional relationship with your tenants. Remember the “Golden Rule“? People tend to reciprocate good behaviour, so be nice. When you’re selling you want to have your tenants onside so they will be willing to show the suite and cooperating with the marketing and sale. A suite that is shown to more people will get higher offers.
2) Give them plenty of notice you’re selling (several months) Let them know your plans are so your tenants can plan accordingly AND prepare your suite for sale. A clean, tidy, and uncluttered suite takes time to prepare and tends to sell for more money sooner.
3) Keep them in the Loop People like to know whats going on with their home. If they know whats going on they are much happier and cooperative than if they don’t. ALSO they might be interested in buying the suite themselves. Good way to save even more money!
unhappy and non-cooperative tenants will cost you money and stress you out. They have the BC Residential Tenancy Branch that is very good at making your life miserable if you treat your tenants badly.
So remember, be nice!
I’d love to hear your thoughts on this in the form of a comment!
The “Working with a Realtor” brochure is one of the most misunderstood documents I work with.
Some people think that by signing this document they are committing to work FOREVER with the Realtor who got them to sign it. THIS IS NOT THE CASE!
The “Working with a Realtor” brochure is simply a signed confirmation the Realtor has explained the Agency Relationship to the client.
By signing this brochure, the client is NOT BOUND TO THE REALTOR. It is simply a signed disclosure that the client has had their rights in the Agency Relationship explained as well as the Realtors obligations and responsibilities to the client in this relationship. Nothing more.
The Agency Relationship is as follows:
1) Undivided loyalty. The Brokerage must protect the principal’s
negotiating position at all times, and disclose all known facts
which may affect or influence the principal’s decision.
2) To obey all lawful instructions of the principal.
3) An obligation to keep the confidences of the principal.
4) To exercise reasonable care and skill in performing all assigned
duties.
5) To account for all money and property placed in an Brokerage’s
hands while acting for the principal.
