The busiest December on record for Vancouver home sales!
Now that 2020 is in the rearview mirror we can all look back and compare Vancouver’s incredible run to previous years. Who would have thought that during a global pandemic we would see such impressive results.
The biggest factor leading to such impressive sales performance was the record low interest rates. The cost of borrowing has never been so affordable. Whether you are looking for a home to move into, or for investment, when you look at the borrowing costs you see opportunity.
This past year also saw property prices begin to turn higher. Single family homes in many parts of the city have seen as much as a 10% increase in prices. We are experiencing impressive demand and at the same time very low supply. This imbalance has created the perfect scenario leading to upward price pressure.
If you are looking to sell your home this coming Spring you should now be thinking of ways to prepare your home for the market. Simple fix ups and grooming both inside and outside can add thousands to the selling price of your home. If you were told that spending $5000 on some repairs and minor maintenance would result in a $25,000 increase in value you’d consider that to be a great return on your investment. Jill and I are a wealth of knowledge with great ideas on how you can simply add to your bottom line with minimal investment. You get paid for pride of ownership.
Spring flowers and longer days are going to be here very soon. Think about preparing your home now so you can achieve the best outcome when you are ready to sell.