With Spring Break and Summer vacation in sight, you might be dreaming of escape to other climates. While your Vancouver home is where your heart is, vacation is a good way to rest and recharge so you can tackle that To Do List with a fresh, clear mind. Whether it’s prepping your Eastside house or Westside condo for the spring real estate market, or unpacking those last few boxes into your new home; a little holiday could be just the thing. But first, choosing the right destination can make or break your next family vacation.

How to Choose the Right Resort for All-Ages

It might not even be a resort! Be it a campground, all-inclusive, or Air BnB, choose your vacation ‘home’ carefully. It’s not just you (and your partner) anymore! Paying that little extra for a 1- or 2-bedroom suite so you and the kids --or grandparents!-- have your own sleeping areas is well worth the money to ensure everyone is well-rested for the days ahead. Whether you’ve got children, teens, or seniors along, researching ahead of time what amenities your hotel has for those age groups or are in the vicinity will save you wasting precious vacation time later.

Use the big sites like Expedia.com, Booking.com, and Hotels.com as a jumping off point, then visit the hotel’s website directly for room options, availability, and amenity details.

Keep Your Options Open

If an all-inclusive sounds like heaven to you, keep in mind that you’ll want to keep your options open. While it’s fine to simply sit by the pool day in-and-out, the others in your group might not feel the same. There’s plenty of fun to be had beyond the hotel wall: do a little leg-work on what’s available for sightseeing around the property. Most destinations have kid-friendly parks, and make sure there’s something for adults, too! Choosing a vacation that’s solely for one age-group won’t be much fun for everyone.

Direct Is Best

Choosing your perfect family vacation spot can be as simple as picking one with a direct flight. Long travel days wear on everyone; little ones to unaccustomed adults alike. Also, by choosing a home-away-from-home that’s central to all the things you want to do, you’ll save on the hassle of transporting multiple people--and the possibility of meltdowns. Keeping your expectations low and daily To See list short are also key.

#1 Way to Ensure Family Vacation Bliss

BE FLEXIBLE. Over the years as airport and border security have tightened with more stringent rules and international destinations come with a whole new set of tricky obstacles to maneuver, it’s become key to plan ahead. However, unexpected things will crop up. Also, take into account traveling with more people automatically means things will take more time and it’s important to keep that in mind. Sometimes, it’s best to just go with the flow, keep your cool, and everyone will have a better time for it! Remember the cardinal rule of travel: it’s supposed to be fun.

February 2017 saw the lowest number of new listings registered for the month since 2003, and the sales were 7.7% below the 10-year average.

However, “While home sales are not happening at the pace we experienced last year, home seller supply is still struggling to keep up with today’s demand. This is why we’ve seen little downward pressure on home prices, particularly in the condominium and townhome markets,” said Dan Morrison, Real Estate Board of Greater Vancouver president.

The numbers are being attributed to limited supply and the unexpected and prolonged snowy weather. Residential home sales totalled 2,425; a 41.9% decrease from February 2016 but a whopping 59.2% increase from January 2017.

The February 2017 Vancouver Housing Market by the Numbers:

New Listings (detached, attached, and apartment): 3,666
36.9% decrease from February 2016
11.4% decrease from January 2017

Total Active listings on MLS®: 7,594
4.0% increase from February 2016
4.9% increase from January 2017

Sales-to-Active Listings Ratio: 31.9%

Benchmark price for all residential properties: $906,700
1.2% decrease from January 2017

Benchmark price for a detached property is $1,474,200
6.5% decline over the past 6 months
0% change from January 2017

Detached property sales totaled 745
58.1% decrease from February 2016

Benchmark price for an apartment property is $526,300
2.3% increase over the past 6 month
2.7% increase from January 2017

Apartment property sales totaled 1,275
28.8% decrease from February 2016

Benchmark price for an attached unit is $675,500
0.3% decrease over the past 6 months
1.3% increase from January 2017

Attached property sales totaled 404
33.1% decrease from February 2016

For a complete comparison, visit rebgv.org. Want to sell, buy, or require a consultation? Contact us today!

*REBGV Editor’s Note:  Areas covered by the Real Estate Board of Greater Vancouver include: Whistler, Sunshine Coast, Squamish, West Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richmond, Port Moody, Port Coquitlam, Coquitlam, Pitt Meadows, Maple Ridge, and South Delta.

It seems winter just doesn’t want to quit this year! As the colder weather persists in Vancouver, so does the drain on your wallet as we use more electricity to heat our homes. Looking for ways to offset your climbing heating bills?

If you’re thinking of listing your Vancouver house for sale, then we’ve rounded up our top tips to curb your electricity usage and prevent you from pouring more money into it while you wait to sell.

Window + Door Coverings

Keep window coverings closed to avoid heat-loss through windows. Conversely, when the sun decides to arrive for the season, this will keep indoor temperatures regulated and reduce your need for an air conditioner! Storm doors will do the same for doors.

Invest in a little weather-stripping, or a lot in proper insulation. Both will help prevent heat-loss and high energy bills.

Lighting

Consider replacing your bulbs with LEDs, which use approximately 90% less energy than incandescents. Don’t forget, nightlights count! The high cost of LED lightbulbs can be a deterrent, but long-term they will save you money. Another trick is to install dimmer switches. That way, you’ll only use the amount of light you need.

Your Fridge + Freezer

Stock your fridge and freezer well; food acts as insulation so your refrigerator doesn’t have to work so hard. Also, only store covered food and dishes that have already cooled off so your fridge doesn’t have to do double-duty.

Those Other Appliance Drains

You know all those TVs and accessories, kitchen appliances and computers that glow with the time and other settings? They’re draining your electricity. Consider plugging them into a power strip, then switch it off between uses.

Other ways to stop the drain is to turn off the “Heated Dry” on your dishwasher, only do dish and laundry loads when you have a full load, and always wash laundry on cold. Also, check when your off-peak hours are and only run appliances then for cheaper electric rates.

Hot Water Tanks

Insulate it well and drain it twice per year of sediment to keep it running at top efficiency. If you install a water heater timer so the tank only runs when you need it most, you have the opportunity to see a 5 - 12% reduction in your hot water heater’s energy costs.

If you’ve just bought your dream house on Vancouver’s Westside or are calling the East Side home now, these money-saving tactics will also help you ease into homeowner bliss!

The 2017 Metro Vancouver real estate market opened at 10.3% below the 10-year sales average for January.

“From a real estate perspective, it’s a lukewarm start to the year compared to 2016,” said Real Estate Board of Greater Vancouver president Dan Morrison. “While we saw near record-breaking sales at this time last year, home buyers and sellers are more reluctant to engage so far in 2017.”

1,523 residential properties sold last month, a 39.5% decrease from the 2,519 sales in January 2016 and a 11.1% decrease from the 1,714 sold in December 2016.

Property type is proving to be a key factor as townhome and condominiums continue to be active markets while detached homes are declining in popularity by about 7% since their peak last July.

An in-depth look at January 2017 Sales:

The 2017 Metro Vancouver real estate market opened at 10.3% below the 10-year sales average for January.

“From a real estate perspective, it’s a lukewarm start to the year compared to 2016,” said Real Estate Board of Greater Vancouver president Dan Morrison. “While we saw near record-breaking sales at this time last year, home buyers and sellers are more reluctant to engage so far in 2017.”

1,523 residential properties sold last month, a 39.5% decrease from the 2,519 sales in January 2016 and a 11.1% decrease from the 1,714 sold in December 2016.

Property type is proving to be a key factor as townhome and condominiums continue to be active markets while detached homes are declining in popularity by about 7% since their peak last July.

An in-depth look at January 2017 Sales:

New Listings (detached, attached, and apartment): 4,140
6.8% decrease from January 2016
215.5% increase from December 2016

Total Active listings on MLS®: 7,238
9.1% increase from January 2016
14.1% increase from December 2016

Sales-to-Active Listings Ratio: 21%

Benchmark price for all residential properties: $896,000
0.2% decrease from December 2016

Benchmark price for a detached property is $1,474,800
6.6% decline over the past 6 months
0.6% decrease from December 2016

Detached property sales totaled 444
57.6% decrease from January 2016

Benchmark price for an apartment property is $512,300
0.3% increase over the past 6 month
0.4% increase from December 2016

Apartment property sales totaled 825
24.7% decrease from January 2016

Benchmark price for an attached unit is $666,500
0.4% decrease over the past 6 months
0.7% increase from December 2016

Attached property sales totaled 254
32.4% decrease from January 2016

For a complete comparison, visitrebgv.org. Want to sell, buy, or require a consultation? Contact us today!

*REBGV Editor’s Note:  Areas covered by the Real Estate Board of Greater Vancouver include: Whistler, Sunshine Coast, Squamish, West Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richmond, Port Moody, Port Coquitlam, Coquitlam, Pitt Meadows, Maple Ridge, and South Delta.

Summer started below recent averages in the Vancouver real estate market, and registered home sales were below 4,000 for the first time since January. The Real Estate Board of Greater Vancouver’s president Dan Morrison stated that after a record-breaking start to the year, home-buyer demand returned to more “normal” levels in-line with previous years.

“We’ll wait and watch over the next few months to see if this marks the return of more normal market trends.” Morrison concluded, as July’s sales were still 6.5% above the 10-year sales average for the month. And with the recent introduction of the new BC Foreign Buyer’s Tax by the Canadian government, only time will tell what’s in store for the Vancouver market.

July 2016 By The Numbers:

New Listings (detached, attached, and apartment): 5,241
2.5% increase from July 2015
10.8% decrease from June 2016

Total Active listings on MLS®: 8,351
27.4% decline from July 2015
6.9% increase from June 2016

Sales-to-Active-Listings ratio: 38.6%

Benchmark price for all residential properties: $930,400
32.6% increase from July 2015

Benchmark price for a detached property is $1,578,300
38% increase from July 2015

Detached property sales totaled 1,077
30.9% decrease from July 2015

Benchmark price for an apartment property is $510,600
27.4% increase from July 2015

Apartment property sales totaled 1,602
7.3% decrease from July 2015

Benchmark price for an attached unit is $669,000
29.4% increase from July 2015

Attached property sales totaled 547
20.7% decrease from July 2015

For a complete comparison, visit rebgv.org. Want to sell, buy, or require a consultation? Contact me today.

*REBGV Editor’s Note:  Areas covered by Real Estate Board of Greater Vancouver include: Whistler, Sunshine Coast, Squamish, West Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richmond, Port Moody, Port Coquitlam, Coquitlam, New Westminster, Pitt Meadows, Maple Ridge, and South Delta.

As of August 2nd, 2016, the BC government put into law an additional tax on foreign buyers in the Greater Vancouver Regional District. Once a property is registered at the Land Title Office, the tax applies with no exceptions and strict non-compliance penalties. The tax’s sudden introduction with seeming little-to-no consultation from real estate professionals in the Vancouver market left a lot of people in uncertain waters over the August long weekend.

What Is The Foreign Buyers Tax?

The 15% Property Transfer Tax applies to all residential property transfers to foreign entities. It is important to note that this is in addition to the general property transfer tax that is already in place. Failure to pay or providing incorrect information to avoid the tax can result in up to $100,000 in fines or two years in prison.

Who’s Affected?

Foreign entity transferees including: foreign nationals, foreign corporations, and taxable trustees. This additional tax is applicable on the foreign entity’s proportionate share of any residential property transfer, and on transactions that were previously exempt from property transfer taxes such as a transfer between related individuals.

However, the new tax does not apply to mutual fund trusts, real estate investment trusts, or specified investment flow-through trusts.

For further information on filing, paying, and avoidance penalties, see the Ministry of Finance’s Tax Information Sheet.

What Does The REBGV Have To Say?

President Dan Morrison of the Real Estate Board of Greater Vancouver states, “We must ensure we’re doing what we can to help our clients understand and comply with the new tax.” For a more in-depth look at the REBGV’s stance, see their official statement.

If you have any questions regarding the new tax or its impact on the selling or purchase of your home, please don’t hesitate to contact us.

Spring is out of the gate at top speeds. The March numbers are in, and they’re breaking new records. Residential property sales in the Lower Mainland totalled 5,173 this past month: a whopping 56% above the 10-year sales average for March. They were up by 24% from February alone (4,172 sales), and 27.4% up from the 4,060 sales in March 2015.

“Strong job and economic growth in our province, positive net migration and low interest rates are helping to drive this activity,” said Real Estate Board of Greater Vancouver’s new president, Dan Morrison. Morrison, who started his tenure as the REBGV’s fearless leader last month, went on to explain that the demand is broad-based. Meaning sales aren’t concentrated in one particular neighbourhood, which is great news for sellers looking to get their properties on the market.

There were a total of 6,278 new listings in March, covering detached, attached, and apartment properties across Metro Vancouver. It’s a moderate 5.2% increase from the same time last year, and an 8% increase from February. What’s interesting, is that the total number of properties for sale is 7,358; a dramatic 40.5% decline from March 2015.

The Rest At a Glance:

Benchmark price for all residential properties: $815,000
23.2% increase from March 2015

Benchmark price for a detached property is $1,342,500
27.4% increase from March 2015

Detached property sales totaled 2,135
24.8% increase from March 2015

Benchmark price for an apartment property is $462,800
18.8% sales increase from March 2015

Apartment property sales totaled 2,252
38.4% increase from March 2015

Benchmark price for an attached unit is $589,100
20.1% increase from March 2015

Attached property sales totaled 786
8.9% increase from March 2015

For a complete comparison, visit rebgv.org. Want to sell, buy, or require a consultation? Contact me today.

*REBGV Editor’s Note:  Areas covered by Real Estate Board of Greater Vancouver include: Whistler, Sunshine Coast, Squamish, West Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richmond, Port Moody, Port Coquitlam, Coquitlam, New Westminster, Pitt Meadows, Maple Ridge, and South Delta.

If you ask a dozen so-called real estate experts and financial planners on whether it's the right time or how to invest in real estate, you’ll receive a dozen different opinions. It’s all about your personal needs and how you invest. If you play your cards the smart way, investing in real estate can lead to a nice, passive income stream for your retirement. It's also an ideal way to leverage and borrow against when values rise so you can buy more property.

Three ways to owning real estate are a) sole purchase and ownership of property, b) form a limited partnership to pool resources and enable the purchase of more expensive property, as well as share risks and returns, and c) indirect ownership of property by investing in REITs where you own shares. Today, I'm focusing on direct ownership of real estate and what options you have. Whether you're a seasoned investor or a novice, there's never really a better time to begin long-term investing because the market always shifts.

Before setting off down this path, speak with your bank or a trusted mortgage broker. Rules for down payments on investment properties differ from if you're buying a principal residence. In Vancouver, a minimum 50% down payment is required to generate a break-even monthly cash flow. With property prices so high in the lower mainland, the idea of buying a property and generating cash flow is a challenging feat unless you have a sizeable down payment. The biggest question to consider is: if I buy this property today, do I need an immediate income stream or am I fine with a break-even or possibly a negative cash flow for the first few years? If you do generate a rental loss, this can be used as a tax write-off at year’s end.

In the current financial climate, a lot of real estate investors in the lower mainland are buying with the expectation that property values will continue to rise, and not for current cash flow. This mind-set makes them more “real estate speculators”. If you’ve bought property in the lower mainland over the past 15 years, you've most likely seen a sizeable increase in its market value. Speculators, for the most part, have done very well. It's all about timing. If you bought a property in Vancouver in mid \-2007 and then sold it when the market fell by 20% in 2008/2009, you may have taken a loss. Buying real estate with a longer time horizon is a safer bet, allowing you to ride any market downturns. Short term investing is a lot riskier.

Buying property in Vancouver right now will typically generate a 2-4% Cap Rate depending on a number of factors. Many investors say this return is too low considering the risks and aggravation of owning a rental property. Other investors are just fine with these returns as they’re more focused on the expectation of rising market values. In the end, it’s your perspective that matters and is a personal decision.

If real estate is an attractive addition to your investment portfolio, we’re always available to offer professional perspective and tailored advice to your needs. Contact us to schedule a personal consultation and let's see how, together, we can create wealth and passive income for you and your family.

Here’s to a healthy and prosperous Spring 2016!

Andrew & Jill Hasman

(Photo: Alex Costin)

Selling a home? MLS reported 3,646 sales; a 19.3% increase compared to October 2014 (3,057), and a 9% increase to September sales of this year (3,345). That’s 36.2% above the 10-year sales average for the month of October.

Buying a home? Patience, deep pockets, and the right realtor that knows the market and how to make an acceptable offer will ensure you a spot in the game. Darcy McLeod, Real Estate Board of Greater Vancouver’s president, said that “Home sales are more than one-third above what’s typical for this time of year, yet the supply of homes for sale is the lowest we’ve seen in five years.” That also indicates that when you do find the home of your dreams, having your financing lined-up and limited conditions can make all the difference.

The market at a glance:

October 2015 Active listings: 4,126
8% decline from the reported 4,487 active listings in October 2014

Total number of properties for sale: 9,569
30% decline from October 2014, and an 11.4% decline from September 2015

Sales-to-Active-Listings ratio: 38.1%
Benchmark price for all residential properties in Metro Vancouver is $736,000

15.3% increase from October 2014

Benchmark price for a detached property is $1,197,600
20.1% increase from October 2014

Detached property sales totaled 1,437
13.1% increase from October 2014’s 1,271 sales

Benchmark price for an apartment property is $425,800
11.4% increase from October 2014

Apartment property sales totaled 1,543
21.7% increase from October 2014’s 1,268 sales

Benchmark price for an attached unit is $526,700
9.3% increase from October 2014

Attached property sales totaled 666
28.6% increase from October 2014’s 518 sales

The Greater Vancouver Area’s market is in the home seller's favour as residential property sales numbers continue their steady climb. For a complete comparison, visit rebgv.org. Want to sell, buy, or require a consultation? Call us at 604-657-7936 or email Andrew at andrew@andrewhasman.com!

*REBGV Editor’s Note: Areas covered by Real Estate Board of Greater Vancouver include: Whistler, Sunshine Coast, Squamish, West Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richmond, Port Moody, Port Coquitlam, Coquitlam, New Westminster, Pitt Meadows, Maple Ridge, and South Delta.

(Photo: Jennifer C.)

As a key economic driver in BC, the real estate market is happily humming along in our fair city. There was a 14.5% increase in residential property sales this September; 3,345 compared to the 2,922 sales reported in September 2014. This is only a slight 0.5% decrease to August 2015 sales.

Let’s review the Real Estate Board of Greater Vancouver’s September Stats as a big picture. Knowing where your homes stands in the grand scheme of Vancouver’s market will help you prepare to sell it, or know what’s a good buy and what isn’t. 

September sales were 32.9% above the 10-year average, even though the total number of properties for sale listed on MLS® was 27% less than September 2014, and .8% less than August 2015.

Sales-to-Active-Listings ratio: 31%

Benchmark price for all residential properties in Metro Vancouver is $722,300

A 13.7% increase from September 2014

Detached property sales totaled 1,272; a 0.2% increase from September 2014
Benchmark price for a detached property is $1,179,700

Apartment property sales totaled 1,529; a 28.7% increase from September 2014
Benchmark price for an apartment property is $415,100

Attached property sales totaled 544; a 17.2% increase from September 2014
Benchmark price for an attached unit is $518,600

(Photo: Alex Costin)