Recently a client approached me to sell their condo in Kerrisdale. The suite was a well laid out, 2 bdrm plus den, offering over 1500 square feet of living overlooking Elm Park. The building was a beautifully built and well maintained concrete low rise. My first impression was that this would be a fairly straight forward sale as the condo was located in a sought after building in a great location.

The suite was in immaculate well maintained condition. The only issue I could see that buyers might have would be the ability to look beyond the poorly appointed furniture relative to the layout. The dining room area had no dining table and was made small looking by a large oversized wood hutch. The master bedroom had no bed in it. The living room was arranged so that it looked very narrow and difficult to furnish.

We decided to go to market without making any changes to the furniture. After 2 weeks on the market and 15 showings, we finally attracted just 1 offer which was on the very low end of where I suggested it might sell. This offer was accepted with a subject period of 2 weeks. On the 14th day the buyer backed out and the sale did not go through. At this point the seller was feeling a little frustrated.

It was my suggestion that staging the home would solve all the buyer concerns about the lack of dining area, the narrow living room, and the uninviting master bedroom. I felt that if the condo was correctly staged, we could attract a buyer quickly, and at a much better price than the previously accepted offer.

The seller was concerned that paying $4,500 for staging might not pay off. I felt otherwise.

The Outcome:

3 days after the staging went in, we sold the condo at a price $50,000 above the previously accepted offer. The staging cost the homeowner $4,500 so the net result was a gain of $ 44,500.00! Staging your home does work.

If you have any questions about home staging or would like a consultation, please call Andrew at 604-657-7936.

(Photo: https://en.wikipedia.org/wiki/User:Andwhatsnext)

The June 2015 numbers from The Real Estate Board of Greater Vancouver are record-setting. It was the highest selling June on record.

The month saw residential property sales exceed 4,300, which is a whopping 28% more than that of June 2014. These numbers surpassed those seen in May. June 2015 also hit another high: four straight months with more than 4,000 sales per month.

These numbers signal a lot of positives for sellers. Many people believe that summer isn’t the best time to sell, but because most people take their property off the market, inventory becomes scarce and sellers can often see multiple offers and a quick sale. we are seeing some great inventory right now.

It’s also the ideal time to prepare for the fall market. We are available to consult with potential sellers and offer suggestions for staging, repairs or other issues a seller might not have considered. We have a list of pros to help get any place into top selling shape.

We also understand the additional pressure buyers struggle with in a competitive market. Many buyers feel the need to make major decisions in a rush, and that can be problematic. The current high demand for housing is further extended by the recent cut in interest rates, along with an expanding population base and a decrease in supply of detached homes.

We’re great at handling such complex scenarios to help potential buyers understand what they need to know in a stressful, often rapid-fire situation. We use our deep insight into the local market, dexterity with MLS listings and expertise in buying strategies to ensure your success.

At Andrew Hasman and Associates, buying or selling your home in Vancouver's Westside doesn't get any better than this. Reach out to us at 604-657-7936 or email andrew@andrewhasman.com.

School’s almost out for summer, and we know you’ve been distracted by all this sunny, summer weather we’ve been having in Vancouver. So we’ve compiled a westside short-list of all the fab day camps available.

1. PedalHeads have swimming lesson and bike day trip combination camps at Jericho Beach Park all summer long! This camp gets kids outside for fun in the sun, and they’ll learn the basics of cycling and swimming safety. Kids are taken on rides all over Vancouver with experienced guides who focus on safe, educational fun. For parents who are avid cyclists, your kids can learn the fundamentals of bike safety during the week so that you can enjoy time together on your weekends off! Great for kids ages 4-9.

2. UBC has an amazing assortment of adventure camps to choose from. Kids can be windsurfing one week, and Zip-lining the next week. These day camps are a great way to expose your kids to a variety of outdoor activities, and appeal to their inner adventurer. Designed for children of all ages, camps with individual themes run on a week long cycle. You can choose a combination of activities to offer your kids some variety in their summer fun.

3. Pear Tree Education offers full-day camps for kids with activities such as TV broadcasting workshops, educational beach trips for the budding marine biologist, and cooking camps for aspiring chefs. The variety will keep your kids engaged, and allow them to try many new things before the summer is out. Programs are available for kids 5-14.

4. Arts Umbrella are a fantastic organization who have been educating kids in the arts in Vancouver since 1979. They offer camps for visual artists, thespians, and writers, empowering your child to trust their creative impulses. Camps are taught by experienced artists from around Vancouver, and give kids a chance to learn through experimentation with their own creativity. Your burgeoning artist will come out of this camp inspired and full of imagination! There are programs available for youngsters 3-19 years of age.

(Photo: Pear Tree Education)

You don't have to search too far to know that Vancouver's housing market is red hot. Home prices continue to edge higher towards record levels. Single family homes are seeing the most appreciation.

With prices moving higher, what's the best strategy when pricing your home?

Our advice: if your home is located in an area of strong demand and low supply, price your home on the low side to create multiple offers.

Buyers will always gravitate towards a property that is priced lower and where there is a frenzy of activity. Human nature tells us that people always want what's in high demand! If there is a frenzy of activity on your home you can bet there are always 1 or 2 buyers who have already been outbid on 1 or 2 other houses in the past. Those buyers tend to be very motivated and more emotional with their decision making process. An emotional buyer will typically pay you more than the buyer who is bidding purely based on numbers. 

Multiple offers also set the seller up for more straight forward offers. The idea in a multiple offer scenario is to bring the seller "subject free" bids with dates and terms to the seller's liking .

Also critical to the process is to not allow offers to be presented until a fixed date –at least 1 week after the home hits the market. Carefully consider a buyer that offers you a price after just 2 days on the market. The seller wants to ensure that before all offers are presented, all qualified buyers would have seen the home. We want to try to attract as many bids as possible.

On Vancouver's West and Eastside we have seen many homes employ this strategy with tremendous success!

If you are contemplating the sale of your home, a well seasoned realtor who works in your neighbourhood will be able to guide you in the right direction. We would be happy to give you an assessment, just give us a call at 604-657-7936.

Happy selling!

September is typically a transitional month for the local real estate market as folks return back to normal routines after the summer break. In most years the September / Fall Real Estate market does not begin to gain momentum until the latter part of the month. As we close September this year the same can be held true.

We have compiled several stats below which will provide an overview of Vancouver’s Westside Housing market. September housing sales slowed from both July and August levels with the supply levels increasing. We now have approx. 8 months housing supply on the Westside versus less than 3 months supply back in the month of March.

Westside Housing ( Single Family Homes)

• In September 2011 there were 104 homes sold vs 143 last September, an decline of 27%
• Year to date 1683 homes have been sold vs 1329 last year, an increase of 26%
• Average sale price was $ 2,407,014 this September vs $ 1,917,000 last September, an increase of 25%.
• Year to date vs last year average sale prices are up 22% to $ 2,384,490
• As at September 30th this year the supply of homes was 21% higher than September 2010.
• We have 7.9 month’s supply at September 30th this year vs 4.7 month’s supply last year

Westside Housing ( Condos & Town homes)

• In September 2011 there were 369 attached properties sold vs 373 last September.
• Year to date 4081 attached properties have been sold vs 4045 last year, an increase of 1%
• Average sale price of condos sold was $ 660,158 this September vs $ 589,170 last September, an increase of 12%.
• Average sale price of a town home sold was $ 994,932 this September vs $ 946,207 last September , an increase of 5%.
• Year to date average sale price of a condo is 7% higher than in 2010 and town home prices are 6% higher than 2010.
• Supply of town homes and condos is down by 8% and 5%% respectively with month’s supply on the market indicating a balanced market for both categories.

Please keep in mind these figures are for Vancouver’s Westside only up until September 2011. Based on current market conditions, the Condo and Town Home market looks stable across Vancouver’s Westside.

The Housing ( Single Family Homes) market looks like it has softened in the past month with almost 8 months housing supply.

We cannot help but think the recent turmoil in the global financial markets is weighing on individuals decisions to buy a home. How this all plays out in our housing market is yet to be seen. Everyone has a varying opinion.

If you have any questions or would like specific information regarding the market value of your home we are always available to help.

Have a great day.

Andrew Hasman
Direct 604-657-7936
Re Max Andrew Hasman Realty
www.andrewhasman.com

There goes Summer! That was fast! Hard to believe, shorter days, back to school and back to work is all hear! That being said, as I write this one of the warmest and sunniest stretches of weather lies ahead this Labour Day Weekend. We deserve it.

Vancouver’s Real Estate market on the Westside performed as expected in August with slower sales than July but overall market conditions remaining stable. Of the six properties I sold in August, five involved Multiple Offer scenarios with the final selling prices coming in at or over asking in all cases.

Here is how the numbers stack up:

Westside Housing ( Single Family Homes)

• In August there were 130 homes sold vs 134 in last August, virtually even.
• Year to date there have been 1579 homes sold vs 1186 in 2010, an increase of 33%
• Average sale price was $ 2,494,938 this August vs $ 1,908,544 last year, an increase of 30%
• Year to date vs last year average sale prices are up 22% to $ 2,383,006
• As at August 31th this year supply of homes is 5% lower than the same time last year.
• The months of supply is virtually even with last year at 5. Five month’s supply translates into a Balanced Market.

Westside Housing ( Condos & Townhomes)

• Condo and Townhome sales were up 4% and 7% respectively compared to August of last year.
• Year to date there have been 3712 attached properties sold vs 3672 last year. An increase of 1%
• Average sale price of a Townhome was $ 1,026,417 this August vs $ 829,030, an increase of 23%
• Average sale price of a Condo was $ 630,356 this August vs $ 586,215 last year, an increase of 7%
• Year to date the average sale price of a Townhome is 6% higher than last year and Condo prices 7% higher.
• The supply of condos and townhomes are both down by 11% and 16% respectively.

Please keep in mind these figures are Vancouver’s Westside only and only tell a general overview of the local market. These numbers do indicate a balanced Market in both the Detached and Attached market.

Compared to the Summer of 2010 this year the local market has performed better with prices holding stable and buyers remaining ( for the most part ) optimistic about Vancouver’s Real Estate market.

If you have any questions or would like specific market information regarding the market value of your home I am always available to help

Have a Great Day

Andrew Hasman
Re Max Andrew Hasman
Direct 604-657-7936