Real Estate Blog

A lot of homeowners have been asking me: "Is private property in B.C. at risk?"

Tue, 02 Jun 2026 16:21:56 GMT

Here's the latest. 👇

The Supreme Court of Canada has declined to hear the Wolastoqey appeal from New Brunswick, leaving in place a decision that Aboriginal title could not be declared over privately owned, fee-simple land in that case.

This may shape the broader conversation around the Cowichan case here in B.C. — but it does not automatically settle the issue for us.

My view: homeowners deserve clarity, reconciliation deserves respect, and our market needs legal certainty so buyers, sellers, lenders, and families can move forward with confidence.

I'll keep watching this closely. Land title certainty is one of the foundations of real estate ownership in Canada.

Not legal advice — just an important update for property owners. 🏡

🔗 https://www.cbc.ca/news/canada/new-brunswick/supreme-court-wolastoqey-title-ruling-9.7214953

👨‍💼 Victor Song PREC* 📍 Royal LePage Sterling Realty 📞 604-779-8408 📧 info@victorsong.com 🌐 www.victorsong.com

Bank of Canada Holds Rate at 2.25% — Third Hold of 2026.

Thu, 30 Apr 2026 06:03:53 GMT

Inflation hit 2.4% in March and is expected to climb to ~3% in April, driven by higher gas prices linked to the Middle East conflict. It's forecast to ease back to the 2% target by early 2027.

Governor Tiff Macklem signaled that if the economy tracks expectations, any future rate moves will likely be small.

Next decision: June 10. What do you think happens next?

🔗 https://www.bankofcanada.ca/2026/04/fad-press-release-2026-04-29/

#BankOfCanada #InterestRates #CdnEcon

Vancouver’s “Jenga” Tower Is Taking Shape

Fri, 13 Mar 2026 15:38:00 GMT

The distinctive Fifteen Fifteen tower in downtown Vancouver is now rising past the 30th floor, revealing its stacked, cantilevered design.

Set to complete in 2027, the 42-storey building is already reshaping the skyline.

Bold architecture or too unconventional for Vancouver?

🔗 https://dailyhive.com/vancouver/fifteen-fifteen-jenga-tower-1515-alberni-street-vancouver-construction

Bank of Canada Cuts Rates Again as Economy Faces Trade Pressures

Thu, 30 Oct 2025 00:39:25 GMT

The Bank of Canada has cut its key rate by 25 bps to 2.25%, citing softer economic conditions and ongoing US trade uncertainty. Inflation is expected to remain near 2% ahead.

More details ⬇️
https://www.bankofcanada.ca/2025/10/fad-press-release-2025-10-29/

#BankOfCanada #InterestRates #CdnEcon

City of Vancouver to Launch Real Estate Development Company

Tue, 21 Oct 2025 23:08:28 GMT

The City is creating a for-profit real estate company to build and manage around 4,000 rental homes across six City-owned sites valued at $412 million.

The move aims to boost rental supply, speed up construction, and generate long-term revenue for public infrastructure.

Bold move or risky bet? Vancouver launching its own real estate company to build 4,000 rentals — what’s your take?

$7.5M “Floating” Home Lists in Vancouver’s Westside

Fri, 03 Oct 2025 17:58:18 GMT

A remarkable new listing in Vancouver’s Quilchena neighbourhood is attracting attention for its striking design that appears to float above the surrounding forest.

Nicknamed The Canopy House, this $7.495 million property features 7 bedrooms, 9 bathrooms, and approximately 4,800 sq ft of living space. Built with cedar, glass, and concrete, the home boasts a vertical layout that rises into the treetops, complete with an “endless lap” pool, sculptural entry gates, and a private, hidden-from-street design.

The residence was designed by architect Glen McMillan and landscape firm Paul Sangha Creative to accommodate multigenerational living while maximizing privacy and connection to nature.

Full story and images here:
🔗https://dailyhive.com/vancouver/vancouver-home-floating-westside

Bank of Canada Cuts Rates Amid Slowing Economy

Fri, 19 Sep 2025 00:44:11 GMT

The Bank of Canada has lowered its key policy rate by 25 bps to 2.50%, the first cut since March 2025, as slower economic growth and easing inflation create room for a rate reduction.

📰 Click here for the link

#Economy #BankOfCanada #InterestRates #CanadaEconomy #Inflation

Vancouver City Council approves nearly 3,100 new homes in 13 high-rise towers

Mon, 07 Jul 2025 16:42:00 GMT

In a major boost for housing supply, Council has approved 3,097 new homes across 13 towers, including 2,603 secured purpose-built rental units (2,136 market rentals and 466 below-market rentals), along with 383 strata condominiums and 112 social housing units.

Seven of the projects fall within the Broadway Plan area—each within walking distance of existing or future SkyTrain stations—highlighting a strong push toward transit-oriented development.

One standout project at 396 E 2nd Avenue in Mount Pleasant will replace a three-storey building with a 22-storey tower featuring 273 rental homes (218 market, 55 below-market)—yielding a net gain of 220 homes.

These approvals mark a pivotal step toward Vancouver’s housing and sustainability goals, integrating affordable, rental, and social housing across key transit corridors.

Vancouver's Shangri-La Hotel to Become Park Hyatt After Major Renovation

Fri, 04 Jul 2025 14:52:42 GMT

Vancouver’s iconic Shangri-La Hotel is getting a luxury makeover — and a new name. Recently acquired by Brookfield from Westbank and Peterson in a deal estimated at $150M–$200M, the hotel will be rebranded as Park Hyatt Vancouver.

This marks Park Hyatt’s exciting return to Canada, with the transformation slated for completion in 2026. Expect 119 redesigned rooms, upgraded public spaces, a refreshed spa, and the continued presence of the Michelin-recommended Carlino restaurant.

📍 Located in the city’s tallest tower (62 storeys!), this rebrand expands Hyatt’s luxury footprint in downtown Vancouver.

Vancouver Explores Property Tax Options for 2026 Budget

Wed, 02 Jul 2025 18:06:57 GMT

Vancouver City Council has directed staff to prepare three potential property tax scenarios for the 2026 operating budget: a 0% increase, 1.5%, or 2.5%, plus an additional 1% dedicated to infrastructure renewal . This follows a 3.9% increase in 2025 and comes amid rising demands on frontline services and continued cost downloads from provincial and federal governments.

Mayor Ken Sim emphasized balancing fiscal responsibility with the public’s inability to absorb more financial burdens, noting the city faces a multi-billion-dollar budget and that staff are already deferring non-essential hiring and travel . However, some warn a larger increase—up to 7%—may be needed to maintain current service levels and address infrastructure deficits .

❓ Which option do you feel is most fair: a freeze, modest hike, or the full increase to cover costs and infrastructure?

🔗 https://dailyhive.com/vancouver/vancouver-2026-property-tax-increase-budget-proposal

🏗️ Could Modular Homes Help Solve Canada’s Housing Crisis?

Mon, 23 Jun 2025 21:26:57 GMT

A new modular housing project in Toronto is offering hope in the fight against homelessness. Built in just eight months, this 25-unit affordable complex now provides safe housing for people who were previously in shelters or living in tents.

Using mass timber modular construction, the project saved time and costs, with the building completed in just 21 working days on-site. Each compact studio includes a bathroom, kitchen, and living area — all in around 220 sq. ft.

Experts believe modular builds could play a key role in addressing Canada's growing housing needs, especially as over 80,000 people experienced homelessness in Ontario alone in 2024.

💭 Could this faster, more affordable building method be scaled across cities like Vancouver? Is modular housing a realistic part of the long-term solution?

🔗 https://www.biv.com/news/in-canadas-housing-crisis-are-modular-homes-a-cheaper-and-faster-solution-10665820

🎯 B.C. homebuying on the line: What are locals sacrificing?

Wed, 18 Jun 2025 20:08:47 GMT

According to a recent TD survey, over 50% of B.C. residents who are prospective homebuyers say they’re cutting back on non-essential spending—everything from dining out and travel to subscriptions and entertainment—to save up for a home purchase. 🏠

Highlights:

Mortgage relief vs. cost squeeze: Lower interest rates have made homeownership more plausible—but not without some hard choices.
Tight budgets, tough times: Even with rate cuts, many households feel they must reduce their “fun” budget to make homebuying work.
A lifestyle trade-off: The dream of homeownership is alive, but not without short-term sacrifices.

Is this a smart financial pivot—or a concerning shift in priorities for B.C. families?

👉 Read the full story: https://dailyhive.com/vancouver/bc-residents-spending-less-buy-home

#BChousing #CostOfLiving #BudgetLife #HomeGoals

🌲 B.C.’s Economic Independence Runs Through the Northeast 🌲

Wed, 11 Jun 2025 19:30:25 GMT

A great read from @BIVnews highlighting why Northern B.C.—especially the Northeast—is critical to our province’s future.

🔑 Key points:
• The path to B.C.’s economic autonomy depends on responsible development of its energy-rich Northeast.
• Reconciliation, clean energy, and economic growth must work hand in hand—not in silos.
• Indigenous-led partnerships are key to building long-term, inclusive prosperity.

My clients and I actively invest in multifamily buildings across Northern B.C.—we’ve seen firsthand how vital this region is to housing, jobs, and economic resilience. It's more than a market—it’s a cornerstone of B.C.'s future.

💡 Northern B.C. isn’t just a place to watch—it’s a place to build.

🔗 Read more: B.C.'s economic independence runs through the Northeast - Business in Vancouver

#NorthernBC #MultifamilyInvesting #BCEconomy #CleanEnergy #Reconciliation #RealEstate #BCFuture

🏦 Bank of Canada Holds Rate at 2.75% – What It Means for You

Thu, 05 Jun 2025 00:51:11 GMT

The Bank of Canada is keeping the key interest rate steady at 2.75% for June 2025, reflecting caution amid global trade uncertainty and persistent inflation concerns.

📉 Why it matters:
Interest rates influence mortgages, loans, and investment returns—so this decision affects more than just headlines.

📊 Understanding these trends helps Canadians make smarter financial decisions in uncertain times.

📉 Is It Now Cheaper to Buy Than Rent in Metro Vancouver?

Wed, 28 May 2025 20:06:43 GMT

With interest rates easing, some condos in Metro Vancouver are now cheaper to buy than to rent, according to real estate data firm Zonda Urban.

Just two years ago, buying cost nearly double what renting did. But with lower mortgage rates and slight price adjustments, the numbers are shifting. In some developments, like The City of Lougheed in Burnaby, mortgage payments are now less than monthly rent for similar units.

Experts suggest that if buyers can manage the down payment and strata fees, now could be a good time to explore ownership — especially as rents begin to level off with more purpose-built rentals coming online.

🔗Read the full article here

Canada Announces Income Tax Cuts – What Does It Mean for You?

Wed, 21 May 2025 18:18:23 GMT

The federal government has unveiled a major income tax cut set to take effect July 1, 2025. The lowest personal income tax rate will drop from 15% to 14%, potentially saving two-income families up to $840 a year by 2026.

This change could benefit nearly 22 million Canadians, especially those earning under $114,750 annually. The goal? Help ease the cost of living across the country.

But will this move make a real difference in today’s high-cost housing market, especially in cities like Vancouver?

🔗 Read the full article here

Vancouver Greenlights Four Permanent Street Plazas by 2026 – Starting with Kamloops-Hastings! 🏙️✨

Mon, 17 Mar 2025 23:37:28 GMT

Exciting changes are coming to Vancouver’s neighborhoods! The city is transforming temporary street plazas into vibrant, permanent spaces, starting with Kamloops-Hastings in Hastings-Sunrise. 🌳🚶‍♂️

With new seating, green infrastructure, and event-ready designs, these plazas aim to become community hubs. What do YOU think about these car-free spaces?

Could this be the future of urban living? 💬

#VancouverPlazas #UrbanDesign #CommunitySpaces

Click here for more information.

Mapping the Impact: Which Canadian Cities Are Most Exposed to U.S. Tariff Risks?

Fri, 14 Mar 2025 22:15:29 GMT

Exploring the impact of U.S. tariffs on Canadian cities: From Saint John's high exposure to Vancouver's resilience, see which areas are most at risk. Southern Ontario and Alberta face significant challenges, while cities like Toronto and Vancouver are better insulated. Dive into the data and understand the economic stakes.

How Will Your City Fare in the Face of Rising Trade Tensions?

#TradeWar #CanadaEconomy #Tariffs

Click here for info.

Bank of Canada Cuts Rates Amid Trade Uncertainty 📉

Fri, 14 Mar 2025 00:14:18 GMT

The Bank of Canada has lowered its key policy rate by 25 bps to 2.75%, its 7th consecutive cut in nine months, as trade tensions and U.S. tariffs weigh on growth and inflation.

#Economy #BankOfCanada #InterestRates #TradeWar #Inflation #CanadaEconomy

Click here for the link

📉 Rent in Vancouver drops, but it’s still Canada’s most expensive city 💰

Tue, 11 Mar 2025 19:55:01 GMT

Vancouver’s rental prices hit a three-year low, but it remains the priciest place to rent in Canada. A one-bedroom now averages $2,518, with a 5.1% drop year over year. Meanwhile, rents in Toronto and Calgary have also declined.

Vancouver’s rental prices just hit a three-year low—do you think they’re still too high? Let’s discuss! ⬇️

#VancouverRent #RealEstate #CostOfLiving #HousingMarket

🚨 Surrey is stepping away from Metro 2050! 🚨

Fri, 07 Mar 2025 23:13:21 GMT

In a unanimous vote, Surrey City Council has decided to withdraw from Metro Vancouver’s Regional Growth Strategy, citing concerns over cost, equity, and governance. Mayor Brenda Locke emphasizes that Metro 2050 places an unfair financial burden on Surrey residents while failing to meet the city’s unique growth needs. This decision could reshape the future of planning and development in the region.

What do you think? bold move for local control or risky step away from regional collaboration? Let’s talk! ⬇️

#SurreyBC #MetroVancouver #RegionalGrowth #UrbanPlanning

Click here for more info.

🏢 BC Government Moves Forward with Richmond Supportive Housing Project 🏠

Thu, 20 Feb 2025 22:24:28 GMT

After a temporary suspension, the BC Government has decided to proceed with its controversial 90-unit supportive housing project at 3780 Sexsmith Road in Richmond.
Despite public opposition, including protests and petitions, the project is moving ahead after reviewing five alternative sites deemed unsuitable.

With final approval pending Richmond City Council’s review. What are your thoughts on this project?

#SupportiveHousing #RichmondBC #AffordableHousing #BCHousing #CommunityDevelopment #UrbanPlanning

Click here for more info.

📢Vancouver Housing Debate 🏙️

Wed, 19 Feb 2025 00:31:13 GMT

Is the City of Vancouver competing with private developers in its own housing market? 🤔 With a new project at Burrard & Pacific featuring 1,136 market-rental units in two striking towers, the City plans to generate profits—while private developers face rising fees, lengthy approvals, and strict below-market housing requirements. 💼🚧

Should the City focus on core services and supporting non-market housing instead of entering the for-profit game?

What do you think?

#VancouverHousing #RealEstate #UrbanDevelopment #AffordableHousing #CityPlanning #BroadwayPlan #VancouverRealEstate

Click here for more information:

The 5-Year Canada Bond Yield Drops to July 2022 Levels

Fri, 07 Feb 2025 22:40:29 GMT

The sharp decline in the 5-year Canada bond yield likely signals lower fixed mortgage rates ahead. If you're planning to buy a home or renew your mortgage, now might be the perfect time to reach out to your mortgage broker or account representative to explore your options.

Do you think rates will drop even further, or are we looking at a rebound soon? Share your thoughts!

#MortgageRates #HomeBuying #RealEstateCanada #InterestRates #FinanceNews #MortgageRenewal #HousingMarket #BondYield #RealEstateInvesting #MarketTrends

Bank of Canada Lowers Rates Again. But What’s Next?

Fri, 31 Jan 2025 19:49:21 GMT

Click here for the full article

🏦 Bank of Canada Cuts Key Interest Rate to 3.25% 📉

Wed, 11 Dec 2024 23:23:53 GMT

The Bank of Canada has made its final major move of the year, lowering the key interest rate to 3.25%—a large 50 basis point cut! Good news for variable-rate mortgage holders: expect lower monthly payments! But rising home prices may push potential buyers to act faster.

How do you think this will shape the housing market and affordability? 🏡💭

#InterestRates #BankOfCanada #RealEstateTrends #EconomicNews #MortgageRates

Click here for more info.

15 Wacky Real Estate Facts You Won't Believe!

Sun, 01 Dec 2024 16:42:37 GMT

From haunted houses to Tokyo's teardown trend, the real estate world is full of surprises! Did you know McDonald's is a real estate empire, not just burgers? 🍔🏠 Or that a red front door in Scotland means you're mortgage-free? ❤️🚪

📢 Which fact blew your mind the most? Share below! 👇

#RealEstateFun #WackyFacts #HomeSweetHome #DidYouKnow #RealEstateLife #FunFacts #PropertyAdventure

Click here for more info.

Vancouver's 2025 Budget: Property Tax Hike Ahead?

Wed, 27 Nov 2024 22:10:51 GMT

Vancouver City Council is considering a 5.5% property tax increase for 2025, with rising costs and infrastructure projects driving the budget.

What’s your take on this proposed hike? 🏠

#VancouverBudget #PropertyTax #CityCouncil

Click here for more info.

Vancouver Commercial Rents on the Rise!

Tue, 26 Nov 2024 00:03:58 GMT

Vancouver's commercial rents climbed 2.4% in Q3 2024, outpacing B.C. & Canada! 💼🏢 Steady demand seen across office, retail, and industrial spaces.

#VancouverRealEstate #CommercialRents #MarketTrends #RealEstateNews #YVR 📊✨

For more info click this link.

Goodbye, Polka-Dot House

Sun, 24 Nov 2024 17:10:11 GMT

East Vancouver bids farewell to its iconic polka-dot home, a joyful landmark for over 30 years. Once owned by chef Chuck Currie, it will be refurbished with a nod to its legacy—a polka-dot mini library. ❤️🏠

#PolkaDotHouse #EastVan #LocalIcons

For more information click here.

Greater Vancouver Home Sales Surge in October Amid Lower Borrowing Costs

Tue, 19 Nov 2024 16:28:30 GMT

Greater Vancouver home sales surged 32% in October with rates dropping! Signaling a potential market rebound. Is this the start of a new trend?

#VancouverRealEstate #MarketUpdate

Click here for more info.

Vancouver's Housing Boom: 58,000 Homes in Development Pipeline!

Wed, 13 Nov 2024 00:50:09 GMT

Vancouver’s housing development is ramping up! With 58,000 homes in the pipeline, the city is on track to exceed housing targets by 2028, aiming to address growing demand. From rental approvals to major projects like Oakridge Park, Vancouver is building for the future. 🏗️🏡

#VancouverHousing #RealEstate #CityGrowth #HousingDevelopment #YVR

Click here for more info

BC Tenant Fights for $200 Pet Deposit Return in Tribunal

Sun, 10 Nov 2024 20:14:31 GMT

A BC tenant successfully challenged a $200 pet deposit deduction after a tribunal found no proof of pet-related damage or agreed pet limit. The landlord had withheld funds, claiming extra cleaning costs and pet violations, but lacked evidence.

💬 Have you had rental deposit issues?

#BCRentalRights #TenantWin #PetDeposit

Click here for more info.

Metro Vancouver's Housing Crisis Grows

Thu, 31 Oct 2024 22:05:26 GMT

Over 45,000 homes short and counting! Metro Vancouver faces a severe housing shortfall, expected to reach nearly 49,000 by 2031. With skyrocketing population growth, Surrey will become the largest city in BC, pushing past Vancouver!

Full article here: https://dailyhive.com/vancouver/metro-vancouver-housing-supply-population-growth-forecast-statistics

OSFI Drops Stress Test for Uninsured Borrowers Switching Lenders!

Tue, 29 Oct 2024 19:17:44 GMT

Starting November 21st, uninsured mortgage holders in Canada can switch lenders at renewal without the stress test if their loan amount and term stay the same.

How will this impact lender competition?

#MortgageNews #CanadianRealEstate #OSFIUpdate

Click here for more info.

Could Luxury Housing Help Solve Vancouver's Affordability Crisis?

Thu, 03 Oct 2024 21:52:37 GMT

Could more luxury developments help make housing in Vancouver more affordable? Economist Michael Wiebe believes so, citing "vacancy chains." Others disagree. What do you think?

Full article here: https://dailyhive.com/vancouver/vancouver-luxury-housing-affordabilty

🚧 Big Changes Coming to Burnaby Lougheed Neighbourhood! 🚧

Tue, 24 Sep 2024 22:08:51 GMT

Burnaby just approved two massive towers at Lougheed Town Centre! 🏙️ One will be 80 storeys tall—the tallest in Western Canada. These new developments bring over 1,400 condos, retail, and office spaces. Exciting times for the city’s skyline and community!

Full article here: https://www.burnabynow.com/local-news/colossal-80-storey-73-storey-towers-approved-in-burnaby-with-1400-condos-9561791

Just Sold: 112-Year-Old Vancouver Home!

Sat, 21 Sep 2024 00:07:54 GMT

This 2 bed, 2 bath home might look rough, but it still sold for $1.35M! 💰 Only $45K was for the house itself—the rest? All land value! 🌲🏞️

Would you buy a home for the land alone? Or would you prefer a brand-new build? 🤔

Full article here: https://dailyhive.com/vancouver/vancouver-home-caution-tape-4156-john-st

Big News for Homebuyers!

Tue, 17 Sep 2024 22:25:38 GMT

Ottawa is expanding 30-year amortizations and raising the insured mortgage cap to $1.5M! This could lower monthly payments and make homeownership more accessible, especially for first-time buyers.

How do you feel about these changes?🏠

Full article here: https://globalnews.ca/news/10757723/ottawa-to-expand-30-year-amortizations-raise-insured-mortgage-cap/

Price Slashed, Yet No Buyer: Arthur Erickson's Vancouver Marvel Struggles to Sell

Fri, 13 Sep 2024 20:01:46 GMT

This stunning Vancouver home, designed by legendary architect Arthur Erickson, can't seem to find a buyer despite several price cuts. Originally listed at $16.8M in 2018, it’s now down to $7.98M—but still no bites!

Full article here: https://dailyhive.com/vancouver/vancouver-british-properties-home-1056-groveland

Gen Z and Millennials: Still Dreaming of Home Ownership Despite Challenges

Wed, 11 Sep 2024 20:57:29 GMT

Despite rising home prices and financial hurdles, 84% of Canadians aged 18-38 believe owning a home is a valuable investment. Many are willing to make sacrifices, from saving diligently to cutting discretionary spending, to achieve their goal. These young homebuyers remain optimistic, with 75% prioritizing home ownership in their lifetime.

Full article here: https://blog.royallepage.ca/gen-zs-and-young-millennials-still-believe-in-home-ownership-and-theyre-willing-to-make-sacrifices-to-achieve-it/

BC Builds: 1,200 Affordable Rental Homes Coming to Metro Vancouver

Mon, 09 Sep 2024 21:20:01 GMT

BC is tackling the housing crisis head-on with new rental homes in Langley and Burnaby—helping everyday heroes like teachers and nurses stay in the communities they love. Affordable, sustainable, and built for the future. Affordable, sustainable, and built for the future. Let’s build a future where home is within reach for everyone! #BCBuilds #AffordableHousing #HousingForAll #CommunityFirst #MetroVancouver

For more information click this link: https://dailyhive.com/vancouver/1200-middle-class-rentals-metro-vancouver

The Bank of Canada Cuts Lending Rate: What It Means for Canadians

Fri, 06 Sep 2024 22:58:12 GMT

The Bank of Canada has cut its overnight lending rate from 4.5% to 4.25%, marking the third rate cut this year. This move aims to manage inflation, which has slowed to 2.5%. The rate cut makes borrowing cheaper for Canadians, benefiting homeowners with variable rate mortgages. TD Economics predicts further rate cuts, potentially lowering the rate to 2.50% by the end of 2025.

For more details, you can read the full article here: (https://stories.td.com/ca/en/article/bank-of-canada-rate-announcement-september-2024).

3 Lists for Selling Your Home With

Mon, 12 Aug 2024 15:25:00 GMT

When you put your property up for sale, you want to ensure that potential buyers get all the information they need on the features of your home and its surrounding area. For example, if a buyer doesn’t realize a great school is just around the corner, they might just walk away.

An effective way to make sure something like that doesn’t happen is to create these three lists:

#1: The “bittersweet goodbyes” list
Chances are, there are things about your home or neighborhood that you’re really going to miss when you move. It may be the spacious living room, ideal for entertaining. Or maybe it’s the nearby park with scenic trails, perfect for walking and biking, or the large deck with just the right combination of shade and sun. Whatever you’ll miss, add it to the list. Those are features that will probably pique the interest of potential buyers too.

#2: The “just the facts” list
What are the facts about your property that a buyer needs to know to consider purchasing it? Such items may include total square footage, number of bedrooms and washrooms, property taxes, size of yard, etc. This list should also include special attributes, such as upgraded kitchen features and the local golf course.

#3: The “new and improved” list
Buyers are interested in the state of repair of your home, and in any improvements you have made to it. On this list, include all repairs completed during the past 3 years and, if possible, attach receipts. It’s especially important to include anything that’s been replaced, such as a furnace or roof shingles. If you’ve done any major remodeling or renovations, include those details too.

Want more tips on selling your home? Call today.

The Devil’s in the Details: Home Insurance Coverage

Mon, 05 Aug 2024 16:40:00 GMT

When you suffer damage to (or the loss of) your home or its contents, you expect your insurance company to come to the rescue, and most do.

Still, it’s a good idea to review your policy with your insurance advisor and find out what’s covered and what isn’t. For example, if you have a flood in your laundry room, you don’t want to discover then that the damage is not covered.

Some events that often require additional coverage, or may not be covered at all are:

Overland water (interior home damage from water outside the home)
Sewer backup
Poor maintenance (e.g., you could be denied if you didn’t maintain your foundation or repair a leaky pipe)
Valuables beyond a specific amount

Also, check liability limits. Ask your advisor to recommend an appropriate level. Finally, ensure you know exactly how much your home is insured for. Are you covered for the full replacement cost? Are you comfortable with that coverage, or would you rather only insure for the actual cash value?

Knowing you have the right insurance policy will give you peace of mind and is an important part of enjoying your home.

June 2024 Market Update

Fri, 26 Jul 2024 21:48:00 GMT

Metro Vancouver home sales remained below seasonal and historical averages in June. Inventory has continued to accumulate to levels last seen in the spring of 2019.

Home sales totaled 2,418 that is a 19% decrease compared to June 2023 and  24% below the 10-year seasonal average. 

If you are looking to buy, sell or have questions about real estate, please give me a call.
Victor Song PREC*
Royal LePage Sterling Realty
604-779-8408
info@victorsong.com
www.victorsong.com

How to Quickly Improve Indoor Air Quality

Mon, 15 Jul 2024 21:47:00 GMT

Unfortunately, air quality alerts are becoming a more common occurrence these days. Aside from that, there are many reasons why the air quality in your home may not be at its best. Maybe it’s a faulty furnace or an aged carpet to blame. Until you get those issues addressed, how can you make your indoor air healthier – today?

Here are some ideas:

Use an air purifier – Choose a device that uses a HEPA filter, the gold standard for indoor air purifiers. Also, look for one that has a CADR rating equal to at least two-thirds of the room’s area. You may also want to consider if the purifier’s energy costs and ongoing maintenance costs are within your budget.
Check the furnace filter - This is one of the most overlooked maintenance items in the home. Any furnace repair person can tell you stories about filters they’ve seen caked in dust. Make sure those aren’t yours. Air passes through those filters before circulating throughout your home. Replacing a filter takes less than five minutes.
Clean the drains - Drains are a surprisingly common source of odour in the home. Most people only clean them when they’re clogged, but they should be flushed thoroughly with a good-quality cleaner at least once a season.
Turn on the bathroom fan - Not only do bathroom fans remove odour, but they also reduce moisture build-up. About 50% of air pollutants originate from some type of moisture; mould is the worst of these pollutants. Professionals recommend you keep your bathroom fan on for at least 30 minutes after a shower.
Clean your doormat - Even if your doormat doesn’t smell, it can be a source of air pollutants. When people wipe their shoes, they transfer outside pollutants from their shoes to your mat.

Hope these tips have you breathing a little bit easier.

Whole-Home Security Systems Continue to Evolve

Mon, 08 Jul 2024 22:46:00 GMT

Until recently, even the latest home security system could become obsolete overnight. Nowadays, newer whole-home integration systems are much more compatible with interchangeable parts and innovative add-ons.

As a result, it’s now possible to have a multi-faceted security system that watches over many of the functions and activities in and around your home. For example, you can organize and control your home’s exterior cameras, motion detectors, door locks, window coverings, lighting, entertainment, appliances, and HVAC with one system.

If you’re buying an entirely new system, there are many established and emerging brands available, so consider their functions, cost, convenience, and reliability. If you want the whole-home system to manage existing utilities and appliances, things can become more challenging. You will need to ensure that your specific devices can communicate with your new hub, which means you need to identify the way they share information. Because their device compatibility is not certain, it’s advisable to identify the make and model of your existing equipment and check for compatibility before you purchase a new security hub or system.

How To Make Your Home Sale “Smooth Sailing”

Tue, 02 Jul 2024 03:17:00 GMT

If you’ve ever been on a cruise ship, you know that rough waters can result in a miserable experience. Even on modern ships equipped with stabilizers, choppy seas and bad weather can leave you stuck below deck – and possibly seasick.

In fact, the expression “smooth sailing” comes from a desire for calm waters.

When you sell your property, you’ll want smooth sailing too. You’ll want the experience to be as nondisruptive as possible, while also having plenty of qualified buyers interested in your listing. In the end, you’ll want the transaction to be completed without a hitch.

So how do you ensure that happens? Here are some things you can do to help:

Think of your home as a product - Potential buyers are more likely to become interested in a product that looks clean, uncluttered, and well-maintained. Make sure the front entrance is inviting and keep closets half-empty and organized. If you are in a house, make sure the exterior is appealing (shrubs and flowers go a long way with this).
Price it right - If it’s listed too high, potential buyers won’t come. If it’s listed too low, you may leave money on the table (potentially thousands). Setting the price will be one of the most important decisions you’ll need to make when selling your home.
Don’t be there during showings - As your real estate agent, I will take buyers through your property and show them all the great features. If you’re there, some buyers may not feel comfortable and may leave before they have had a chance to become interested.
Be flexible- This is especially important when it comes to showing appointments, negotiations, home inspections, closing dates, etc. It’s okay to be firm on some things, just not everything.

With these tips in mind, you can better tame choppy waters that may arise and hopefully smoothly sail into a sale.

May 2024 Market Update

Wed, 26 Jun 2024 21:41:00 GMT

The number of sales declined in May compared to what is typical for this time of year in Metro Vancouver. This shift has allowed the inventory of homes available for sale to continue to accumulate with over 13,000 homes now actively listed in Metro Vancouver.

Home sales totaled 2,733 that is a 20% decrease compared to May 2023 and  20% below the 10-year seasonal average. 

If you are looking to buy, sell or have questions about real estate, please give me a call.
Victor Song PREC*
Royal LePage Sterling Realty
604-779-8408
info@victorsong.com
www.victorsong.com