Greater Vancouver Real Estate News from Rich Z November 2017   

 
Having your home broken into is a traumatic experience that you definitely want to avoid so this month's article shares some tips on how to increase your home's security.

There are also some great feng shui ideas to help you create a harmonious home environment as well as a few tips on how to build a more close-knit community.

Thanks so much for checking out this month's newsletter.  Please get in touch if you have any questions or comments regarding the articles, or real estate in general -- it'd be great to hear from you!

All The Very Best!
Rich Zalaudek

In this issue...
Vancouver Real Estate Market Update 
October home sales exceed historical average.

Metro Vancouver home sales exceeded typical historical levels in October with the majority concentrated in the townhouse and apartment markets.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 3,022 in October 2017, a 35.3 per cent increase from the 2,233 sales recorded in October 2016, and an increase of 7.1 per cent compared to September 2017 when 2,821 homes sold.  Last month’s sales were 15 per cent above the 10-year October sales average.

"Conditions continue to vary significantly based on property type. The detached home market is well supplied with homes for sale, which is relieving pressure on prices," Jill Oudil, REBGV president said.  "It remains a much different story in the townhouse and apartment markets.  Buyers of these properties continue to have limited supply to choose from and are seeing upward pressure on prices."

There were 4,539 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in October 2017.  This represents a 14 per cent increase compared to the 3,981 homes listed in October 2016 and a 15.6 per cent decrease compared to September 2017 when 5,375 homes were listed.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 9,137, a 0.1 per cent decrease compared to October 2016 (9,143) and a 3.5 per cent decrease compared to September 2017 (9,466).

For all property types, the sales-to-active listings ratio for October 2017 is 33.1 per cent.  By property type, the ratio is 16.8 per cent for detached homes, 44.8 per cent for townhomes, and 66 per cent for condominiums.

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.

"The growth in our provincial economy and job market is contributing to today's demand," Oudil said.  "The federal government's announcement of plans to tighten mortgage requirements for the seventh time in the last eight years also helped spur activity in the short term.  Many buyers are trying to enter the market before the changes are in place."

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,042,300.  This represents a 12.4 per cent increase over October 2016 and a 0.5 per cent increase compared to September 2017.

Sales of detached properties in October 2017 reached 940, a 44.2 per cent increase from the 652 detached sales recorded in October 2016 and a 34.6 per cent decrease from the 1,437 sales in October 2015.  The benchmark price for detached properties is $1,609,600.  This represents a four per cent increase from October 2016 and a 0.5 per cent decrease compared to September 2017.

Sales of apartment properties reached 1,532 in October 2017, a 30.1 per cent increase compared to the 1,178 sales in October 2016 and a 0.7 per cent decrease from the 1,543 sales in October 2015.  The benchmark price of an apartment property is $642,000.  This represents a 22.7 per cent increase from October 2016 and a one per cent increase compared to September 2017.

Attached property sales in October 2017 totaled 550, a 36.5 per cent increase compared to the 403 sales in October 2016 and a 17.4 per cent decrease from the 666 sales in October 2015.  The benchmark price of an attached unit is $802,400. This represents a 17.7 per cent increase from October 2016 and a two per cent increase compared to September 2017.


Smart Home Security Made Simple 
A fully secure home will provide you with peace of mind.

Whether you’re at home sleeping or away on vacation, it’s important to know that your home is secure.  A secure home is also much more attractive to potential buyers when it comes time to sell.

Smart lighting, remote locks and wireless cameras can all make your home safer; however, the issue of cyber criminals hacking into smart home systems is a valid concern so homeowners shouldn’t forget about the basics.

Eliminate potential hiding spots by trimming down bushes that are around your windows and doors.  Most thieves are opportunists who see an open door or window and decide to take a chance and see what they can make off with.

Next, install strike plates on your doors to help protect the deadbolt from crowbars or kick attacks.  Thieves want to get into your home as quickly as possible so if one forceful kick doesn't work, they’ll likely turn and run.

Windows are also popular break in points so install heavy sash or keyed locks.  Installing an eyebolt in window corners also prevents the window from being opened from the outside.  Glass block windows are an excellent choice as they look attractive, can't be opened and are extremely difficult to break.

Give the impression your home is lived in while you're away on vacation by installing a dusk-to-dawn porch light.  Although technology allows you to control blinds and lights right from your smartphone, you'll still need to find someone to rake your leaves as there isn’t an app for that yet!


When it comes to home security, paying attention to the little things can often make a huge difference so take time to "case the joint" and list all the security failures that burglars would appreciate.  Potential buyers will prefer a secure home as it's one less thing for them to worry about so you may as well do it sooner than later so that you can enjoy the benefits as well.

The Feng Shui Way 
Creating good feng shui around your home is easier than you think!

Feng shui is an ancient Chinese practice that helps achieve a harmonious living environment in order to promote happiness and prosperity.  Here are a few ideas to enhance the energy flow around your home:


  1. Think Outside the Nest - Birds bring great energy so add a few feeders and a bird bath in your backyard.

  2. The Right Path - Place a few plants and wind chimes on your porch and make sure the path to your front door is unobstructed.


  3. Fire & Ice - Essential oils, crystals, candles and water features such as fountains and fish bowls will bring calm and balance into your home.

  4. Mirror, Mirror - The strategic placement of mirrors helps improve feng shui by drawing more sunlight into otherwise murky rooms and by expanding narrow areas such as hallways.

  5. De-clutter - Clearing your home of clutter will introduce a smoother flow of energy.  Clutter is a sign of trapped energy so be ruthless and get rid of everything you don’t need.

Feng shui emphasizes that our physical surroundings have an impact on our emotional well-being so it’s important to be aware of how we arrange our space.  Buyers often feel certain vibes when they enter a home so a "harmonious feel" could be the difference between a quick sale and one that drags on.

Building a Better Community 
Getting to know the people living around you offers plenty of benefits!

Research shows that there are many physical and mental health benefits to enjoying a sense of belonging.  Here are a few ideas to help you build community spirit:

  1. Rags to Riches - Organize a garage sale or clothing swap in your ‘hood.  It’s also a great way to get rid of clutter!


  2. Clean Green - Coordinate a park clean-up and then enjoy drinks and snacks that will hopefully be donated by a local business.


  3. Book Smart - Build a “Little Library” at your local park or on your front lawn and enjoy watching people gather to exchange books.


Getting to know people who live close by will really improve your quality of life and foster a sense of belonging.  Social media can also help build a safe, connected, friendly place to live by providing a platform to share events and ideas.



PS Are you sick of scouring the paper and MLS sites looking for homes? Tired of playing telephone tag with agents only to hear the home's already sold? Sit back, relax and let me do the work for you! Just visit my website and check off the features you're looking for. Whenever a home matching your criteria hits the market, it'll be automatically flagged and emailed to you so you'll never have to worry about missing your dream home. This service is free and there's no obligation! Click here to get started.


Not meant to solicit clients already under contract.