Real Estate Blog & Resources

in the new market (since interest rates went up) what should you do if you already own a home & want to move??

It really depends on what youre selling & where you're selling.  That's always been the case but it's especially true now.  In the city, I see over ask sales primarily for homes under $1million & for homes that sold in March.  In suburbs like Burnaby, I'm seeing over list sales for townhomes over $1million, just as an example of how types of homes & areas make a difference.

I've also heard from mortgage brokers that Buyers who bought before the interest rate increases & then listed their homes to sell, were surprised that they only received one offer.  If you've bought then the pressure is on to fulfill your obligation & your ability to negotiate or wait for a better offer is limited.

If you're thinking of moving, ensure that you're getting current information from a professional & experienced realtor who can advise you as to what's happening in your neighbourhood, what the risks might be with both choices, & what makes the most sense for you.  Get informed to make the right decisions for you!

City of Vancouver is pushing through a lot of planning decisions but you have a chance to get more information & offer your opinion.  It is our city after all!

Currently we are in Phase 4, so if you haven't been paying attention, now is the time.  You can find out a lot more here & even take the survey which closes on April 24th.

We should care about topics like the infrastucture to support the building plans.  Areas of the City already struggle to service the needs of the residents.  Many schools are at capacity, roads can't handle current traffic levels, parking to support small businesses has been removed in favour of bike lanes, & the list goes on.

Are these plans about improving the quality of life with thoughtful planning or just clickbait for housing that doesn't meet our needs?.  Take a look & decide for yourself.