FIRST OPEN HOUSE: SAT & SUN APRIL 2/3 -- 2PM-4PM
7820 BROADMOOR BLVD, RICHMOND

We are proud to announce that this Apr 2nd & 3rd , 2:00 PM to 4:00 PM we will be hosting an Open House at 7820 Broadmoor Boulevard in the Broadmoor neighborhood, Richmond. This is an opportunity to visit this excellent House for sale in beautiful Broadmoor.

I just finished uploading this House for sale, 7820 Broadmoor Boulevard, Broadmoor, Richmond

This quality built custom home is 4461 SF on a large 8118 SF lot in the multi-million dollar neighbourhood BROADMOOR. Immaculately maintained by original owner this functional floor plan has 4 bdrm up, 1 bdrm on the main, 4.5 bath, 2 car garage & solarium – perfect for a growing family! Bright & spacious featuring 18'ft ceilings in the entrance & living rm, European windows, in ceiling speaker system, long life tile roof, skylights, radiant heat, window seating, 2 gas f/p, fully fenced south facing backyard & TONS of parking - Circular driveway in front w/ lane access in the back. Updates: 2015 boiler, 2013 central A/C, 2014 H/W floors, 2013 s/s appl. Great schools! Errington & London-Steveston. Close to transit & shopping. OPEN HOUSE: SAT/SUN APR 2/3 2-4PM Don't miss this!

There are quite a number of variables to consider when purchasing a residential income property.

You’ll likely want to eventually engage with a real estate agent, but prior to doing so it is important to conduct as much research as possible. Remember to approach the purchase with an unbiased attitude and evaluate your options based on factual information.

Here’s a look at some of the top variables to consider when evaluating potential properties.

1. Economic outlook. Locations that are seeing employment growth will typically have more people moving to the area – this should also increase the potential renter pool. Conversely, locations that don’t offer as much employment opportunity or have/will see large employers leaving town, will often experience higher vacancy rates.

2. Neighbourhood characteristics. The location in which a home is located has a profound effect on the type of tenants you can attract. For instance, a quality neighbourhood full of schools, parks/playgrounds and activities for children will often draw in families. Choose a location in part based on the type of renter you’re looking for.

3. Property taxes. The amount of property tax will vary by location. This is something to consider when looking at the monthly carrying costs of a property. Lower property taxes aren’t necessarily the best option – for example, if the area in consideration supports longer-term quality tenants, higher property taxes may not be an issue.

4. Crime rates. Most people don’t want to live in a crime-ridden area. Research the types of crime, frequency and future outlook for the area in question. Many cities offer online-based statistics and maps for crime within the city.

5. Vacancies and rent. You’ll want to try to determine what the average vacancy rate is for the area and the expected future trends. Lower vacancy rates generally equate to higher tenant demand. Next, find out what the average rental value would be based on the type of property you’re considering. Conduct a historical search to evaluate long-term trends – you’re looking for an increase of rental rates over time.

6. The home. Ideally, you’re looking for a property that has appreciation potential and good projected cash flow. Single-family homes tend to attract longer-term tenants, whereas condos provide less maintenance but will generally appreciate at a slower pace.

Courtesy of: http://www.canadianrealestatemagazine.ca/expert-advice/how-to-choose-an-income-property-197111.aspx

Do you ever wonder how most people find the homes they eventually buy? You might imagine them driving by a “For Sale” sign or seeing a home for sale in the newspaper and then calling to enquire.

Of course, many buyers find out about listed properties that way. But, according to research by the National Association of Realtors, there are many other — sometimes surprising — ways buyers find their next dream home.

For example:

• 88% of buyers find a home with the help of a real estate agent.

• 90% of buyers search online as part of the home buying process. (Such as viewing a property’s profile on the agent’s website.)

• 69% of buyers searching for a home using Google, use a specific local term, such as “Whitby-south homes for sale”.

• 29-46% of buyers attend an Open House as part of their home hunting activities.

Overall, the research shows that buyers are using a multitude of ways — combining online and offline methods — to find homes. 

What does all this mean to you? If means that if you’re preparing your home for sale, you need to ensure your marketing plan takes into account all the ways buyers are finding properties — so you can be sure that they will find yours.

Looking for a REALTOR who knows how to market your home for maximum exposure? Call me today --604.644.1044 Alisa Sakamoto 

The stats from the Real Estate Board of Greater Vancouver have been released for February.  We're beginning to see home listings increase as we head toward the spring market, however, additional supply is still needed to meet today's demand.

If you are considering a move and would like to discuss your options with me, please don't hesitate to give me a call, I look forward to helping you!

         Metro Vancouver Home Buyers Set a Record Pace in February 

VANCOUVER, B.C. – March 2, 2016 - Last month was the highest selling February on record for the Metro Vancouver housing market.

Residential property sales in the region totalled 4,172 in February 2016, an increase of 36.3 per cent from the 3,061 sales recorded in February 2015 and an increase of 65.6 per cent compared to January 2016 when 2,519 home sales occurred.

Last month’s sales were 56.3 per cent above the 10-year sales average for the month and ranks as the highest February sales total on record.

"We're in a competitive, fast-moving market cycle that favours home sellers," Darcy McLeod, REBGV president said. “Sustained home buyer competition is keeping upward pressure on home prices across the region.”

New listings for detached, attached and apartment properties in Metro Vancouver totalled 5,812 in February 2016. This represents an increase of 7.1 per cent compared to the 5,425 units listed in February 2015 and a 30.8 per cent increase compared to January 2016 when 4,442 properties were listed.

"We're beginning to see home listings increase as we head toward the spring market, however, additional supply is still needed to meet today's demand,” McLeod said.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 7,299, a 38.7 per cent decline compared to February 2015 (11,898) and a 10 per cent increase compared to January 2016 (6,635).

The sales-to-active listings ratio for February 2016 is 57.2 per cent. This is indicative of a seller’s market.

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark, while home prices often experience upward pressure when it reaches the 20 to 22 per cent range in a particular community for a sustained period of time.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $795,500. This represents a 22.2 per cent increase compared to February 2015.

Sales of detached properties in February 2016 reached 1,778, an increase of 37.2 per cent from the 1,296 detached sales recorded in February 2015. The benchmark price for detached properties increased 27 per cent from February 2015 to $1,305,600.

Sales of apartment properties reached 1,790 in February 2016, an increase of 43.9 per cent compared to the 1,244 sales in February 2015.The benchmark price of an apartment property increased 17.7 per cent from February 2015 to $454,600.

Attached property sales in February 2016 totalled 604, an increase of 15.9 per cent compared to the 521 sales in February 2015. The benchmark price of an attached unit increased 17 per cent from February 2015 to $569,600

                                              Click here to download the complete stats package.