In a month that is usually one of the quietest in real estate, Fraser Valley’s market continued at a breakneck pace, producing the strongest January sales on record as well as a modest uptick in new listings.
In the first month of 2021, Metro Vancouver’s* housing market continued the pattern set at the end of last year with home sale activity outpacing the supply of homes listed for sale.
Shifting housing needs during the pandemic and historically low-interest rates have been key drivers of demand in the Canadian market over the last six months. People who managed to enter the market a few years ago, and have seen their home values increase, are now looking to move up in the market to accommodate their changing needs.
The Home Buyers’ Amount (HBA) is a non-refundable credit that allows first-time purchasers of homes, and purchasers with disabilities, to claim up to $5,000 in the year when they purchase a home.
Not too many years ago, buying a condo was considered a compromise move. Condos are more affordable, particularly for first-time buyers who have a tough time breaking into the housing market. Until recently the cheap entry fee entitled you to apartment-style living, no yard to call your own, and lusterless appreciation—not an attractive package to most home buyers.
When you decide to sell your home, setting your asking price is one of the most important decisions you will ever make. Depending on how a buyer is made aware of your home, price is often the first thing he or she sees. Many homes are discarded by prospective buyers as not being in the appropriate price range before they even have a chance of a showing.
Working with a reputable real estate agent that you trust can be the deciding factor in whether your house selling or buying experience is positive or negative. There are many reasons why it pays to use a realtor, and here are a few: