Here's a topic we get asked about quite a bit: oil tanks on the property. 

So, if you own an older house and you're considering selling, you may want to know about oil tanks. 

If you're thinking about putting a house on the market, and the home was built before 1970, how do you know if you have an oil tank on the property? Why's this an important factor to note?

Before you list, it's important to make sure if you don't have conclusive evidence, then you know whether or not you have an oil tank buried on the property.

There have been many homeowners who when it's time to list their home on the market, have said that they do not have an oil tank or have never seen one, or that it's always been gas. Only to find out that they did in fact have an oil tank buried on their property. 

So why is this important to note?

If the buyer finds out between selling and completion, the buyer will not be able to get a mortgage on the property. Banks will not finance a house or property purchase where there's a buried dormant underground oil tank on the property. 

This makes it a very important step in the process before someone decides to list their home for sale. It is why we ask all of our clients whether they have evidence of an oil tank removal or if they have an oil tank certificate saying there is or isn't one. If they do not have any of these, we order a scan to get that done.

That way when it comes to marketing the property, we can list the property accordingly so that there is no oil tank issue. 

As previously mentioned, this is a crucial step in the process for both sellers who are selling their homes, and for buyers to be aware of.

If you enjoy these tips, stay tuned for more in our upcoming videos, and send us your questions!

 #Vancouver #HomeBuyers #HomeInVancouver #VancouverHome #HomeBuyerSeries #Remax

As someone who has decided to buy a home & is just starting out, there are many questions you can encounter along the way.

That's why we, Andrew & Jill, are here to answer all your questions. Why us? Well, we've been selling homes in #Vancouver for a long time. We know the scene very well and we're here to put our knowledge to good use to educate you all about what we know. 

So we're creating a Buyers Library Series to answer all your questions and concerns. 

In this series, we're talking subjects, subject removal, deposits, down payments, completion dates, and much more!

Who is this series perfect for?

Well, whether you're a new home buyer who has never bought a home before, you're a seasoned home buyer, or you've been in your home for a very long time and are thinking about starting the process of becoming a buyer on the other side, we've got you covered.

If you don't know what to do or where to start when it comes to buying your home, this is what this series is for!

So, send us your questions, and stay tuned for more videos on the way.

 #Vancouver #HomeBuyers #HomeInVancouver #VancouverHome #HomeBuyerSeries #Remax

Do you have questions about putting your home on the market? 

Well, we wanted to make this series of short videos that we hope will help!

In this home Seller's VIP series, we're addressing all questions and concerns we've heard from clients, regarding the process of how to put your home on the market & showing it in its best light. 

Whether you're brand new at this or have done this before, we want to make it as easy as possible for our clients to understand how this works. We want this process to be comfortable & confident for our sellers and educate as much as possible.

We, Andrew and Jill, have been in the Vancouver real estate market for a very long time. So, we know that things can be overwhelming for some people especially if it is their first time selling their home. Let us help!

Comments, questions, or concerns? Send them to us, and stay tuned for more videos on the way.

andrewhasman.com
604-657-7936

#HomeBuyers #HomeInVancouver #VancouverHome #HomeSellersSeries #Remax

The Latest 2022 Market Stats by area are out and available for download. You get the following graphs and charts for both Vancouver East and Vancouver West.

• Activity Snapshot by Property Type
• Detached Properties Report and Graph
• Condo Report and Graph
• Townhomes Report and Graph
• Benchmark Price Graph
• Average Price Per Square Foot

If you are interested in a report like this is for other areas, please contact us to request it and I'll send it to you.

GET THE FULL REPORT

We took a drive through this Vancouver neighborhood to admire one of our favourite spring season features, the beautiful cherry blossoms.

What's your favourite part about spring?

While down from last year’s record numbers, home sale activity in Metro Vancouver’s housing market remained elevated in March.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 4,344 in March 2022, a 23.9 per cent decrease from the 5,708 sales recorded in March 2021, and a 26.9 per cent increase from the 3,424 homes sold in February 2022.

Last month’s sales were 25.5 per cent above the 10-year March sales average.

“March of 2021 was the highest selling month in our history. This year’s activity, while still elevated, is happening at a calmer pace than we experienced 12 months ago,” Daniel John, REBGV Chair said. “Home buyers are keeping a close eye on rising interest rates, hoping to make a move before their locked-in rates expire.”

There were 6,673 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in March 2022. This represents a 19.5 per cent decrease compared to the 8,287 homes listed in March 2021 and a 22 per cent increase compared to February 2022 when 5,471 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 7,628, a 16.6 per cent decrease compared to March 2021 (9,145) and a 13.1 per cent increase compared to February 2022 (6,742).

“We’re still seeing upward pressure on prices across all housing categories in the region. Lack of supply is driving this pressure,” John said. “The number of homes listed for sale on our MLS® system today is less than half of what’s needed to shift the market into balanced territory.”

For all property types, the sales-to-active listings ratio for March 2022 is 56.9 per cent. By property type, the ratio is 38.8 per cent for detached homes, 73.3 per cent for townhomes, and 70.3 per cent for apartments.

Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,360,500. This represents a 20.7 per cent increase over March 2021 and a 3.6 per cent increase compared to February 2022.

Sales of detached homes in March 2022 reached 1,291, a 34.3 per cent decrease from the 1,965 detached sales recorded in March 2021. The benchmark price for a detached home is $2,118,600. This represents a 23.4 per cent increase from March 2021 and a 3.6 per cent increase compared to February 2022.

Sales of apartment homes reached 2,310 in March 2022, a 14.3 per cent decrease compared to the 2,697 sales in March 2021. The benchmark price of an apartment home is $835,500. This represents a 16.8 per cent increase from March 2021 and a 3.4 per cent increase compared to February 2022.

Attached home sales in March 2022 totalled 743, a 29.0 per cent decrease compared to the 1,046 sales in March 2021. The benchmark price of an attached home is $1,138,300. This represents a 4.4 per cent increase from March 2021 and a 28.1 per cent increase compared to February 2022.

GET THE FULL REPORT