Shannon Realty

Living and Selling Greater Vancouver

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The Changing Market – What Does That Really Mean?

October 22, 2018 by Editor

ScalesAfter several years where home sellers had a market advantage, now buyers have more selection, more time to make good decisions, and their dollar buys more house than it used to.

Sellers have to be prepared to price to the current market or wait until the balance swings again. But when sellers do sell and they become buyers, they are much more likely today than a year ago to find a property they like and have a smooth, unhurried move.

Yes, but aren’t sellers all losing money?

Well, no, most are not. For example, if a seller in the Lower Mainland bought their detached house 3 years ago and sold it last month, they enjoyed an average increase in value of 38%. (And, if they had bought that home with a 25% down payment, the increase of their actual cash invested would be 150%.)

For Lower Mainland apartments, the 3-year numbers are even larger, with an average 71% increase in value.

These numbers are for Benchmark Prices of “typical” homes – but of course every area and neighbourhood is unique; generally, high-priced homes have lost more value than mid- and entry-level homes.

Source: Real Estate Board of Greater Vancouver

Trading up

If you’ve owned your home for a few years and have built up equity, a softer market can be a great time to trade up. With higher priced homes losing more value than lower priced homes, the price gap is narrowed.

Call me to see how this works – and how you might benefit from it.

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Filed Under: Real Estate Perspective

The News – and the Reality: Trends Affecting Real Estate

November 21, 2018

One of the most popular activities in the daily news cycle seems to be forecasting the future of real estate. And it’s not uncommon to see wildly opposing views on where the market is headed, and when it might get there. This month’s post explores the news — and the reality.

Read More

Great Opportunities for Trading Up or Down…If You Qualify

October 9, 2018

Talk to a mortgage broker if you plan to move. There is still a strong demand for housing especially in retirement and recreational properties.

Read More

Some General Trends Affecting Real Estate

September 24, 2018

Prices vs income, downsizing trends, population growth are some of the trends affecting Real Estate pricing and sales in Greater Vancouver.

Read More

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Shannon Realty

Suite 207 5740 Cambie St.,
Vancouver, BC. V5Z 3A6
1-604-649-6058

Email: jeff@shannonrealty.ca

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