Jag and Sandra Real Estate Group

- OUR STRENGTH IS IN TEAMWORK -

Blog

METRO VANCOUVER FEBRUARY 2020 MARKET HIGHLIGHTS

February saw steady home buyer demand and reduced home seller supply across Metro Vancouver*.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,150 in February 2020, a 44.9 per cent increase from the 1,484 sales recorded in February 2019, and a 36.9 per cent increase from the 1,571 homes sold in January 2020.

Last month’s sales were 15.6 per cent below the 10-year February sales average.

Continue reading

WHAT THE BANK OF CANADA RATE CUT MEANS FOR MORTGAGES

Remember the Bank of Canada’s anxiety over worrisome consumer debt loads and housing imbalances? So much for that.

The bank slashed Canada’s No. 1 interest rate today by 50 basis points, and it’s probably not the last cut.

For Canada’s housing market, it sure as sheep didn’t need this stimulus. Not only are there bidding wars galore in hot housing markets, double-digit price gains and 12-year-low housing inventories, but just ahead is one of the most stimulative mortgage rule changes in years: The stress test is easing.

Continue reading

METRO VANCOUVER DECEMBER 2019 MARKET HIGHLIGHTS

Home sales decline below long-term averages in 2019 despite increased demand to end the year

The Metro Vancouver* housing market experienced below average sales activity and moderate price declines in 2019.

The Real Estate Board of Greater Vancouver (REBGV) reports that sales of detached, attached and apartment homes reached 25,351 in 2019, a three per cent increase from the 24,619 sales recorded in 2018, and a 29.6 per cent decrease over the 35,993 residential sales in 2017.

Last year’s sales total was 20.3 per cent below the region’s 10-year sales average.

Continue reading

STRONG FINISH FOR MEDIOCRE YEAR IN FRASER VALLEY REAL ESTATE

SURREY, BC – After a sluggish first half of the year, property sales in the Fraser Valley started picking up speed in the summer and finished strong in December, but not enough to surpass last year’s sales totals.

The Board’s Multiple Listing Service® (MLS®) processed 15,487 sales in 2019, a 0.6 per cent decrease compared to 2018’s 15,586 sales and the lowest total sales volume for the Fraser Valley since 2013. The total dollar volume of MLS® transactions for the year was $11.2 billion, dropping from $11.8 billion sold during the year prior.

Continue reading

METRO VANCOUVER NOVEMBER 2019 MARKET HIGHLIGHTS

Metro Vancouver home sales return to historically typical levels

After a quieter first half of 2019, home buyer activity has returned to more historically typical levels in Metro Vancouver*.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,498 in November 2019, a 55.3 per cent increase from the 1,608 sales recorded in November 2018, and a 12.6 per cent decline from the 2,858 homes sold in October 2019.

Continue reading

UNUSUAL END-OF-YEAR DEMAND FOR FRASER VALLEY REAL ESTATE

SURREY, BC – A combination of unseasonably high demand and declining supply reinforced Fraser Valley’s real estate market in November.

The Fraser Valley Real Estate Board processed 1,405 sales of all property types on its Multiple Listing Service® (MLS®) in November, an 11.7 per cent decrease compared to sales in October 2019, and a 36.7 per cent increase compared to the 1,028 sales in November of last year.

Continue reading

FRASER VALLEY MARKET SEES TYPICAL SPRING INCREASE IN MARCH SALES

SURREY, BC – Last month, buyers in the Fraser Valley took advantage of the continued stability in home prices and the highest inventory levels for March since 2015.

The Fraser Valley Real Estate Board processed 1,221 sales of all property types on its Multiple Listing Service® (MLS®) in March, a 24.3 per cent increase compared to sales in February 2019, and a 26.6 per cent decrease compared to the 1,664 sales in March of last year. Of the 1,221 total sales, 462 were residential detached homes, 300 were townhouses, and 346 were apartments. This was the lowest sales total for the Board during March since 2013.

Continue reading

8 THINGS YOU SHOULDN’T DO IF YOU ARE READY TO APPLY FOR A MORTGAGE!

Congratulations! You want to buy your dream home and ready to apply for a mortgage. You are undoubtedly excited to start the process! But before you make any big purchases, move any money around, or make any great life changes, consult with your mortgage advisor. They will be able to tell you how your future decisions will impact your home loan.

Below is a list of 8 Things You Shouldn’t Do If You Are Ready to Apply for a Mortgage! Some may seem obvious, but some may not!
Continue reading