Leanne Drolet

Royal LePage Sterling Realty

Office 604-421-1010

Cell 778-840-7211

Email: Leanne@realtygal.ca

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 Figuring out how much time you should spend viewing properties for sale is a little like asking, “How long should I spend trying on shoes?” The answer seems obvious: As long as it takes to make a decision!


Buying a home is significantly more complex than purchasing shoes – and the stakes are higher too! You need to make sure you have all the information necessary to confidently make the best decision. There are basically three stages to viewing a property:


1. Macro

2. Micro

3. Professional


When you view a home on a macro basis, you’re looking at it from an overall perspective. For example, you may do a general walk-through to get a first impression and determine if the property has the basic features you need, such as the number of bedrooms and the size of the backyard.


Macro viewing is often the fastest stage in the viewing process and can sometimes take just a few minutes. If you like what you see, then it’s onto the micro stage. At this stage you take a closer look at the details of the property. You might, for example, spend extra time in the master bedroom imagining how your furniture would look and fit.


The micro stage takes longer simply because the home is now on your shortlist. You’re interested and are considering making an offer.


Finally, the professional stage involves getting a qualified home inspector to go over the property with a fine tooth comb. That typically occurs after you’ve made an offer.


As your REALTOR®, I will guide you through a viewing so you’ll know what to look for and can make a smart, informed decision!

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Imagine finding a home you love, making an offer, and then finding out there are other competing offers on the table. Ouch.


If you’re looking for a property in a competitive market, it is likely that there will be multiple offers. Even just one can create the risk that you’ll lose the home. So how do you make sure your offer is enticing enough to win over the seller? Here are some ideas:


Don’t make a low-ball offer. If you do, it might be dismissed and you probably won’t get another chance to bid — especially if the other competing offers are near the listing price.


• Have a pre-arranged mortgage and include that with your offer. This reassures the seller there won’t be any money issues. (Most lenders will provide you with a pre-arranged mortgage certificate for this purpose.)


• Go in with a price high enough that the seller will be interested, but not so high as to be leaving money on the table. This is tricky and requires a savvy knowledge of the current market.


• Have a REALTOR® present the offer on your behalf.


A REALTOR® will know how to do so professionally, and in a manner that gives you the best chance of getting the home. In a competitive situation, working with a REALTOR® who is an expert on the local market — and a skilled negotiator — is crucial.


Looking for a REALTOR® like that? Give me a call today!

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In almost every movie featuring a house on fire, the actors seem to be able to move around the house and see just fine, while beating back flames with a shirt or coat. Of course, that’s not what happens in real fires.


When there’s fire in a home, there is typically complete darkness (because the power goes out) and a cloud of spreading thick, black smoke makes it difficult to see and breathe. That’s why knowing how to get out of your house — fast — is crucial.


Experts recommend rehearsing what to do in case there’s a fire. Make sure everyone in the family has an exit plan. Each should know exactly how to get out, including primary and secondary exits, and where the family will meet once safely outside.


Never attempt to take anything with you. It may seem like you have plenty of time to grab a coat or purse, but the characteristics of a fire can change in seconds.


As a failsafe, in case you can’t exit through a door, you should determine in advance which window has the safest exit. Make sure that the window opens easily and everyone knows how to remove the screen or any other obstruction.


Finally, don’t call the fire department from inside your house. Get out first, then make the call!

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The real estate board of Greater Vancouver reports that home sales and listings trends are below long-term averages in the Metro Vancouver* housing market. This is due largely to reduced activity in the detached home market.


Residential property sales in the region totalled 1,523 in January 2017, a 39.5 per cent decrease from the 2,519 sales recorded in January 2016 and an 11.1 per cent decrease compared to December 2016 when 1,714 homes sold.


Last month’s sales were 10.3 per cent below our 10-year January sales average.  “From a real estate perspective, it’s a lukewarm start to the year compared to 2016,” Dan Morrison, Real Estate Board of Greater Vancouver (REBGV) president said. “While we saw near record-breaking sales at this time last year, home buyers and sellers are more reluctant to engage so far in 2017.”


New listings for detached, attached and apartment properties in Metro Vancouver totalled 4,140 in January 2017. This represents a 6.8 per cent decrease compared to the 4,442 homes listed in January 2016 and a 215.5 per cent increase compared to December 2016 when 1,312 properties were listed.


The total number of homes currently listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver is 7,238, a 9.1 per cent increase compared to January 2016 (6,635) and a 14.1 per cent increase compared to December 2016 (6,345).


The sales-to-active listings ratio for January 2017 is 21 per cent. This is the lowest the ratio has been in the region since January 2015. Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

“Conditions within the market vary depending on property type. The townhome and condominium markets are more active than the detached market at the moment,” Morrison said. “As a result, detached home prices declined about 7 per cent since peaking in July while townhome and condominium prices held steady over this period.”


The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $896,000. This represents a 3.7 per cent decline over the past six months and a 0.2 per cent decrease compared to December 2016. 


Sales of detached properties in January 2017 reached 444, a decrease of 57.6 per cent from the 1,047 detached sales recorded in January 2016. The benchmark price for detached properties is $1,474,800. This represents a 6.6 per cent decline over the last six months and a 0.6 per cent decrease compared to December 2016.


Sales of apartment properties reached 825 in January 2017, a decrease of 24.7 per cent compared to the 1,096 sales in January 2016.The benchmark price of an apartment property is $512,300. This represents a 0.3 per cent increase over the last six months and a 0.4 per cent increase compared to December 2016.


Attached property sales in January 2017 totalled 254, a decrease of 32.4 per cent compared to the 376 sales in January 2016. The benchmark price of an attached unit is $666,500. This represents a 0.4 per cent decline over the last six months and a 0.7 per cent increase compared to December 2016.

 

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