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The Real Estate Clock: What time is it in our Market? Time for investors and other buyers; still good prices for sellers

December 12th, 2022
A lot has happened in the last month with more changes to come. We have a new premier who brought in new housing rules, and we will likely have another interest rate hike this week. These things are affecting our real estate market. New laws affecting strata properties (condominiums) Before looking at the sales data from November, for anyone who has not heard, there were significant changes ...

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The Real Estate Clock: What time is it in our Market? It's Winter time...

November 18th, 2022
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The Real Estate Clock: What time is it in our Market? School is back; another interest rate increase...will we have a Fall market pick up?

September 12th, 2022
As I mentioned for the past several months, we have been seeing pretty steady declines in sales in almost all markets across the country. Interest rates are obviously impacting buyers and all levels of government are apparently still working on methods of cooling what has now become a pretty chill real estate market. By the end of this month, we should know how Fall is going to look and have ...

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The Real Estate Clock: What time is it in our Market? Seems like the market is changing like it did from 2016-2018 .....but more quickly

August 15th, 2022
I apologize for the delay in getting this out....I finally succumbed to Covid so wasn't at my best for a week! But better late than never.... As I mentioned last month, we have been seeing pretty steady declines in sales in almost all markets across the country. Interestingly, Facebook keeps sending me my past real estate posts from 2016-2019 where the comments I made then, were similar to w ...

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Recent Globe and Mail Interview: A bumpy real estate market will rattle renters too

July 22nd, 2022
Vancouver property sales have slowed, as sellers are less likely to list their homes. But prices are holding fairly steady in the country’s priciest market. That means for renters, the pressure on the rental market is higher than ever, exacerbated by interest rate hikes and increased demand. And that pressure could intensify now that landlords have an opportunity to increase rents. Vancouver ...

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The Real Estate Clock: What time is it in our Market? Sales fall further from May to June; interest rates are up BUT the market is still VERY good!

July 19th, 2022
Well I delayed getting this out and BOOM the expected big rate increase...obviously that will affect the market and I will send out more on that but for now, here is the monthly market update. As I mentioned last month, we have been seeing pretty steady declines in sales in almost all markets across the country. Until last month, we hadn't seen much in the way of price drops. However, as sal ...

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Buyers, buyers everywhere + NOTHING for them to buy = Windfall for Sellers

January 28th, 2022
Buyers, buyers everywhere + NOTHING for them to buy = Windfall for Sellers As most of you have likely heard, the real estate market is VERY hard for buyers to succeed in right now. No matter where you are in the Lower Mainland, there are likely line ups of buyers desperate to buy a home. Even those with high budgets are getting outbid as dozens of buyers compete for each house that c ...

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Tax Assessments (Apples) vs. Market Value (Mangoes?)

January 11th, 2022
Before Christmas, I was in the process of writing an article pointing out that most people's homes are now worth more than they think. Over the past year the market has been very hot and home values have gone up, particularly in the entry level market. I didn't get the article sent out and now it is moot... The tax assessments are out and they have thrown a wrench in that article! The ...

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Real Estate in the Time of Covid: November

December 7th, 2021
I really keep hoping that I will be able to change the name of this newsletter and start talking about real estate WITHOUT a Covid spin...but then BOOM another variant pops up! So, we continue with Covid showing protocols and continue to hope you are all staying healthy. As I explained in my last newsletter, from April through to the end of September this year we had 5 months in a row where ...

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Real Estate in the Time of Covid: October bump up with some SCARY seller decisions!

October 6th, 2021
After 5 months in a row where the sales volume in Greater Vancouver decreased from the prior month, in October 2021 we saw an 11 percent increase in the number of sales when compared with September 2021. As has been the case for many months, October's sales also remained above the 10 year average. We don't know if October represents a reversal of the downward sales trend that we have seen sin ...

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