Home sales decline below long-term averages in 2019 despite increased demand to end the year.


The Metro Vancouver* housing market experienced below average sales activity and moderate price declines in 2019.


The Real Estate Board of Greater Vancouver (REBGV) reports that sales of detached, attached and apartment homes reached 25,351 in 2019, a three per cent increase from the 24,619 sales recorded in 2018, and a 29.6 per cent decrease over the 35,993 residential sales in 2017. Last year’s sales total was 20.3 per cent below the region’s 10-year sales average.


"We didn’t see typical seasonal patterns in 2019. Home buyer demand was quieter in the normally busy spring season and it picked up in the second half of the year. In terms of home values, prices dipped between two and four per cent across the region last year depending on property type."


Ashley Smith, REBGV president


Home listings on the Multiple Listing Service® (MLS®) in Metro Vancouver reached 51,918 in 2019. This is a 3.2 per cent decrease compared to the 53,614 homes listed in 2018 and a five per cent decrease compared to the 54,655 homes listed in 2017.


Last year’s listings total was 7.6 per cent below the 10-year average.

“Home buyer confidence was a factor throughout the year. In the first quarter, many prospective buyers were in a holding pattern, waiting to see how prices would react to the mortgage stress test, new taxes, and other policy changes,” Smith said. “Confidence started to return in the summer, and we saw above average sales in the final quarter of 2019.”


The MLS® HPI composite benchmark price for all residential properties in Metro Vancouver ends the year at $1,001,000. This is a 3.1 per cent decrease compared to December 2018.

The benchmark price of apartments decreased 2.7 per cent in the region last year. Townhomes decreased 2.4 per cent and detached homes decreased four per cent.


December summary


REBGV reports that residential home sales in the region totalled 2,016 in December 2019, an 88.1 per cent increase from the 1,072 sales recorded in December 2018, and a 19.3 per cent decrease from the 2,498 homes sold in November 2019.


Last month’s sales were 9.5 per cent above the 10-year December sales average.

There were 1,588 detached, attached and apartment properties newly listed for sale on the MLS® in Metro Vancouver in December 2019. This represents a 12.9 per cent increase compared to the 1,407 homes listed in December 2018 and a 46.8 per cent decrease compared to November 2019 when 2,987 homes were listed.


The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 8,603, a 16.3 per cent decrease compared to December 2018 (10,275) and a 20.1 per cent decrease compared to November 2019 (10,770).

For all property types, the sales-to-active listings ratio for December 2019 is 23.4 per cent. By property type, the ratio is 15.2 per cent for detached homes, 25.7 per cent for townhomes, and 32.5 per cent for apartments.

Generally, analysts say that 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.

Sales of detached homes in December 2019 reached 599, a 72.1 per cent increase from the 348 detached sales recorded in December 2018. The benchmark price for detached properties is $1,423,500. This represents a four per cent decrease from December 2018, and a 0.6 per cent increase compared to November 2019.


Sales of apartment homes reached 1,053 in December 2019, a 96.8 per cent increase compared to the 535 sales in December 2018. The benchmark price of an apartment property is $656,700. This represents a 2.7 per cent decrease from December 2018, and a 0.8 per cent increase compared to November 2019.


Attached home sales in December 2019 totalled 364, a 92.6 per cent increase compared to the 189 sales in December 2018. The benchmark price of an attached home is $778,400. This represents a 2.4 per cent decrease from December 2018, and a 0.7 per cent increase compared to November 2019.


*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.



If you need more information you contact me at


604.831.7719

blanca@blancalazo.com

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Blanca is providing us interesting information about Real Estate Market Statistics for November.


In her video she is focusing on the Real Estate Market for selling and buying properties in Coquitlam BC.


There are three types of market: there is a buyer’s market, sellers market and balanced market.


Right now in Coquitlam in reference to attached properties (condominiums and townhouses) we are in a sellers to balance market depending on the price point you are at. What is selling faster is properties listed between CAD $500.000 - $600.000.

In comparison to October of the same year the market is facing a 28% decline on sold houses.


For detached properties in Coquitlam we have also a sellers market, if you are looking for properties between CAD $800.0000 – $900.000, those are in high demand right now, they are selling rapidly. In comparison to October of the same year there is a 17% decline in the inventory and a 12% decrease in properties sold.


For more detailed information click on the video.


If you want to reach out to Blanca you can call her at 604.831.7719 or send her an email to info@blancalzo.com she will be happy to provide more information or answer your questions.


Official Site for Statistics: https://www.rebgv.org/




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Christmas Giveaway 2019


Welcome to the First Edition of “Blanca’s 12 gifts of Christmas 2019” 


This year we are giving away 12 prizes to 12 winners! 


All prizes will be valued on $50 or more!  ($600 in prizes!!!) Your participation is completely FREE!



HOW TO WIN:


 Like Blanca Lazo Realtor on Facebook
 Like and Comment the video Link Video


You can share this #Giveaway on your timeline and mention your friends in the comments so they can enter too!


EXTRA ENTRIES / MORE CHANCES TO WIN:


Visit my Instagram


 Follow me on Instagram @BlancaLazoRealtor
 Like & comment this video on my Instagram and tag 3 friends


You have time until December 19th, 2019 at 11:59PM PST to participate, winners will be announced on December 20th!


Winners will be picked with Easypromos . See the terms and conditions here: https://terms.easypromosapp.com/t/19915


Thank you and Good luck!! 

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For some people, the thought of listing their home for sale is stressful. They worry about all the things they have to do — and all the things that might go wrong. Luckily, it doesn't have to be that way. Here are some tips for making your home sale go smoothly:


· Give yourself time to prepare. If you're thinking of selling six months from now, start preparing your property now. Do any necessary staging, and get it looking its best. Avoid doing these tasks at the last minute.


· Set the right price. Pricing your property too high will likely result in few, if any, buyers coming to see it. You might end up having to lower your price later, causing your home to linger even longer on the market. That's stress you don't need!


· Have a flexible viewing schedule. If you make it too difficult for buyers to see your property, they might lose interest or simply choose to buy another home. Be as flexible as possible when a buyer wants to view your property.


· Plan get-away activities. When a buyer comes for a scheduled viewing, don't be home. Instead, plan some fun activities for your family. Think: playground, shopping, cycling, the zoo, etc.


· Accept the ups and downs. Prospective buyers might say they love your home and plan to make an offer. Then you don't hear from them again! It happens! Accept the inevitable ups and downs of selling your home.


· Get help with repairs. You'll probably have things that need to be fixed around the home, like a dripping faucet that needs repair or a room that needs painting. If possible, hire a professional to do some of that work.


· Finally, work with a great real estate agent. That will make the biggest difference in ensuring your move goes smoothly and stress-free. Looking for a real estate agent like that? Call me! 604.831.7719

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Your neighbourhood has a lot of features that can help sell your home faster. Unfortunately, buyers don’t usually notice those features just by driving around. So, you need to make sure they get all the information they need about your neighbourhood. For example, say homes don’t go on the market often in your area. That’s an indication that the quality of life in the neighbourhood is so good that no one wants to leave! In real estate we measure the area’s “turnover rate”, and it’s handy data to have when listing your home. Another bit of data that buyers can’t simply see is the local crime rate. But, most police departments keep those statistics. If your neighbourhood has a low crime rate, that’s an obvious plus to sellers. Demographic data can also be helpful when selling your property. If your neighbourhood has a lot of families, for example, that’s going to be appealing to buyers with kids. Even local development plans can play a role in making your home more attractive to buyers. If a new ramp to a major highway is in the works nearby, getting to work is going to be easier. That’s a big benefit to commuters. Other types of data that can help sell your home include: • Planned local construction. • Proposals for neighbourhood improvements. (For example, a new playground.) • Rates at which local property values are increasing. Any information that shows the advantages of living in your area is going to be useful when selling. By the way, this is the kind of information I put together to provide to prospective buyers when selling your home. Contact me today @ 604.831.7719

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10 Reasons to List Your Home This Month

 

Is selling your property the furthest thing from your mind? Well, here are some reasons for listing your property that you might not have considered.

1. Your property may be worth more than you think. (It’s difficult to determine market value on your own. I can calculate it for you. Give me a call.

2. You might qualify for a better home than you anticipate. Every sitution is different- lets personalize your situation

3. The bank of Canada has made a couple of changes to the interest rates recently and more changes are on the way on January 1st. 2018. How will this impact the value of your home? Give me a call, let's talk!

4. There may be homes on the market in a neighbourhood in which you’ve always wanted to live.

5. Your current property may no longer meet your needs.

6. Your neighbourhood may have changed in ways you don’t like.

7. You might be ready to downsize or upsize and you no longer want to put that off.

8. You may want to sell in the fall, so you can have a fresh start in a new home in the new year.

9. Depending on the type of home you’re considering, you could end up with lower mortgage payments or no mortgage at all.

10.You might want to move to a home that’s more conveniently located near work, family and hobbies. Of course, you may have your own reasons for listing this month. Why not discuss them with a real estate expert? Me. I can answer your questions and explain the options available to you. 

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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 buyer? 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 buyer there won’t be any money issues. (Most lenders will provide you with a pre-qualified mortgage certificate for this purpose.)

• Go in with a price high enough that the buyer 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? Call ME today. 604 831-7719

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Modificaciones en tu casa que tienen sentido. Tienes un proyecto de renovacion en mente - y quieres saber si le agrega valor a tu casa? La revista Remodeling Magazine recientemente hizo un estudio de los proyectos de renovacion, comparando los costos a la plusvalia de la propiedad.

 

Aqui estan algunos de los resultados. Cambiar la puerta principal con una atractiva y moderna tiene un retorno de 95% sobre la invercion. Despues de todo, la entrada a un hogar es una de las primeras cosas en los que los compradores se fijan.

Agregar un nuevo patio o terraza (deck) aumenta mucho valor a la casa, dependiendo de los materiales que utilize para la terraza usted puede esperar recivir hasta un 75% del costo de ese cambio. Otro proyecto que da mucho resultado es el cambio de la puerta para la cochera, esto nuevamente demusestra la importacia de la presentacion del exterior de su casa. Si usted esta pensando en hacer una remodelacion grande como el basement o sotano de su casa, le va encantar saber que de acuerdo a este estudio realizado, un proyecto asi agrega mucho valor a su casa.

 

Finalmente, proyectos chichos como hacer arreglos al baño y cocinas - como agregar nueva pantry o electrodomesticos y espejo al baño es lo que tiene mayor ventaja a la hora de vender tu casa. Claro cada casa es especifica y el lugar de la casa es lo que mas define el valor. Si necesitas ayuda en determinar como puede ayudar una renovacion en tu casa llama a    CASA BLANCA Lazo. 604 831 7719

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A couple of years ago I met Elena in my oldest son Noah's school. Elena was born in El Salvador, the same country where I was born and we connected almost immediately. Elena's grandaughter Alex was in the same class as my son and I would run into her often either picking Alex up or dropping her off.

Despite exchanging conversations with my friend Elena, we hardly talked Real Estate. It was more her amazing survival story.

You see, back in 2010 she was diagnosed with the brutal disease of cancer... "GUACALA" as I often say to mean arghhhh!!    

It wasn't going to take her, it wasn't going to be the end of her... she told me this in different ways all the time, it was just amazing to hear. Her energy, her willingness to go on, her encouragement to others around her was always the highlight of the day for me.

One day, I came across Elena and she was frustrated, she was tired, she was confused... "What's wrong?" I asked..  

"I don't know" she said.  "It seems it's going to be a long process", "a long process for what" I asked.

Then she tells me she's been trying to sell her condo in Port Coquitlam for a long, long time...

She's trying to simplify her life by moving in with her daughter and son in-law in Maple Ridge

 

"Well, you know, I am a Real Estate Advisor" I say. "hmm, yeah I know..." she said. She was tired of the showings, she was tired of broken promises, she was tired of buyer who are lyers... she was almost at the giving up point. 

 "Let me help you" I said, " We agreed to speak with her daughter and son in-law and after a long time of convincing.

In February of this year 2016 her property went on the market again.

This time, I had the listing, I made the effort, I came up with a strategic plan to generate the best return on her investment.  As I anticipated, calls began immediatly after beginning the marketing stage. Elena and her family were thrilled when I made the phone call that we had three offers to review after only 4 days in the market. Today I'm Happy to announce that Elena received $21,000 above the asking price of her condo. 

If you're thinking of selling I'd love to go over a specific marketing plan that will be created just for you. It takes a great agent to develop a marketing plan and I'm more than capable of creating one for you.

 

C A S A  B L A N C A  Lazo

#callblanca

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 As you’re probably aware, the list price you set for your property has an impact on how quickly it sells — and how much you earn on the sale.

What you may not realize is just how significant an impact it has. Consider the following examples.

Example 1: You price your property well above its current market value. As a result, many buyers don’t bother to see it because it’s outside of their price range. Those who do see it are confused by the high price tag, (and may even be suspicious.) They may wonder, “What’s going on?” In this scenario, the home will likely languish on the market for weeks or even months. You might even have to lower the price dramatically to reignite interest.

Example 2: You price your property just a couple of percentage points lower than what is necessary to gain the interest of qualified buyers. That might not seem like much of a problem. How much can a couple of percentage points matter? Those points matter a lot.

On a $400,000 property, pricing your home just 2% lower than necessary could cost you $8,000 on the sale. That’s a serious amount of money! So, as you can see, pricing your home right is serious business. Fortunately, a good REALTOR® knows how to set the right price. Looking for a good REALTOR®? Call me today.

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When you make an offer on a home, it’s a smart idea to have a professional home inspector check it out from top to bottom. This inspection will ensure that the property doesn’t have any unexpected “issues”. After all, you don’t want to buy a home only to discover that the roof needs to be replaced, immediately, for thousands of dollars. That being said, you might question whether you really need to invest the few hundred dollars it costs for a professional home inspection. “The home we want to buy looks like it’s in very good shape,” you might be thinking. “I can’t see anything wrong with it.” However, a professional home inspector can see things you can’t. When you view a property that’s on the market, you might be able to notice obvious issues, like a crack in the foundation or a dripping faucet. If you’re experienced with home maintenance, you might even notice roofing tiles that look like they’re overdue for replacement. But you won’t pick up all the issues a home inspector can. A home inspector will, for example, use a special device to check for moisture build-up in the washrooms – which can be an indication of mould. He or she will also inspect wiring to make sure everything is safe and compliant with the building code. That’s not all. Like a determined detective, a home inspector will investigate the property’s structure, electrical and plumbing systems, insulation, and other components — and then report the findings to you.

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I have listed a new property at 210 10455 UNIVERSITY DR in Surrey.
Why rent when you have this EXCELLENT INVESTMENT at D'Cor complex! Owner occupied. Sparkling Clean and Bright corner unit; 1 bedrm 1 bath shows better than new and still under 2-5-10 warranty. Secure, well maintained building makes greatinvestment (rents for $1100/monthly). An open concept floor plan, High 9' ceilings, rich dark laminate flooring, brand new updated paint, S/S appliances in the kitchen. Amenities room has a full kitchen, bath, and exercise room. Building is located in the heart of all the action near Central City Mall, shops, parks. 1 Block to Skytrain, SFU & recreation. New public library & new City Hall. Bonus *2* u/g parking & Storage locker.
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Este Sabado 27 de Septiembre estare presentado datos muy importantes relacionados con la compra de tu casa.

 

Temas que se hablaran son:

  • Documentos necesarios para comprar Strata.
  • Que significa Strata?
  • cuales son mis responsabilidades como propetario de un apartamento o "townhouse" strata. 
  • Diferentes clases de strata. "Freehold, Leasehold ect."
  • Historial de Edificio, Minutas, Financiales ect.
  • Casas - importancia de inspeccion. 
  • Certificado de Titulo o escritura en casas
  • Riesgos de compra en casas con previo historial de cultivacion ilegal

 

 

Habran muchos otros temas interesantes incluyendo mi representacion para el comprador y para el vendedor.

 

Reserven su espacio llamando a Blanca 604 831-7719 o email blancalazo@shaw.ca

o llamando a Christian a 778 846-4207 o email a christian.basantes77@gmail.com

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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.