Blog

IS IT A BUBBLE?


Although we have seen prices move up in all categories, by far the most active is the detached market. All areas of the detached market are seeing multiple offers in many cases in the double digits. The greater Vancouver area detached market continues to be red hot and shows no signs of slowing down. 
 
Our brokerage continues to see large numbers of transactions booked every month.
 
Will we see an eventual slow down? Probably! But how slow can it really get and probably only for a short period of time. If we believe (as most of us do) that we are a world class city then if we compare our real estate prices with the other world class cities we are still relatively inexpensive. There is still room for prices to continue to move upward barring any global disaster. 
 
In the mean time, if you own property or are planning to buy property in Greater Vancouver you can enjoy an unbelievable lifestyle which cannot be surpassed by other areas.
 
~Louie Pulice
Managing Broker
President
TEAM 3000 Realty Ltd.
 
 
According to the latest information released from the Real Estate Board of Greater Vancouver and this article posted at REW.ca
rebgv june 2015 infographic
 

Greater Vancouver home sale prices are up 10.3 per cent year over year according to Real Estate Board of Vancouver (REBGV) figures released July 3, and real estate sales numbers continue to climb. In fact, the 4,375 homes sold last month were 29.1 per cent above the 10-year average for June.

Below is our useful infographic that highlights the key stats and breaks down the figures, area by area.

rebgv june breakdown


Dealing with Multiple Offers


In a HOT market like we are experiencing in Vancouver right now, multiple offers can be commonplace. Here are some guidelines for Buyers and Sellers. 

mulitple offers orange county

 

Multiple Offers - What's Involved

As a buyer or seller, dealing with a multiple offer situation on a property can be stressful. Your REALTOR® can provide you with information about the process regarding your situation, but this article will give you an overview of some key points to bear in mind.

The buyer

  • Your REALTOR® will usually inform you when he or she learns that a multiple offer situation exists.
  • As a general rule, it's a good idea to make your best offer in these circumstances as you may not get a second chance.
  • With your REALTOR's® assistance, write up the offer as “cleanly” as possible -- the fewer terms and conditions you include, the more attractive it will be to the seller.
  • Offers are normally presented to the seller in the order they were received. It's very important to remember, however, that under most circumstances the seller is under no obligation to consider, respond, or counter your offer. Just because it may have been the first offer presented does not mean the seller is obliged to consider it and respond to it prior to considering and dealing with other offers.
  • Be aware that even a full-price offer does not guarantee your obtainment of the property -- other offers may be for above the asking price or may have more attractive conditions attached such as an earlier possession date.
  • The seller may have given instructions to the listing agent not to divulge to the REALTORS® acting for potential buyers that multiple offers exist – therefore, other offers may exist that you are not aware of.
  • If the seller counters your offer, your offer remains at risk as there is always the possibility that the seller could rescind the counter-offer and accept another one before you have had an opportunity to consider and respond to the counter-offer.
  • Your REALTOR® may suggest that you accompany them and wait outside while they present your offer, allowing you to make quick decisions should the seller wish to counter.
  • If your offer is unsuccessful you may choose to make a backup offer which, if accepted, would come into effect should the accepted offer collapse for any reason -- ask your REALTOR® for details.

The seller

  • Your REALTOR® will notify the REALTORS® acting for prospective buyers that there are competing offers unless you specifically instruct him or her not to do so.
  • Your REALTOR® will explain the procedure and ensure that you have a full opportunity to view all offers prior to your making any decision.
  • As a general rule, the offers will be presented to you by the REALTORS® acting for the potential buyers in the order they were received by you. After one of the REALTORS® has presented an offer, he or she will be asked to wait outside for a decision or to be available to provide additional information if necessary.
  • In consultation with your REALTOR®, you can then decide whether you wish to accept any of the offers, or counter any.
  • Under most circumstances, you are under no obligation to accept or counter or even respond to any offer presented, but you should discuss with your REALTOR® what your obligations and options would be in case you receive an offer that fully meets the terms set out in the Listing Contract.
  • If you find two offers appealing, you may wish to accept one and have your REALTOR® notify the REALTOR® acting for the second-choice buyer that you would be prepared to accept a back up offer in the event the first offer collapses.


Welcome to the Team ladies!


nina and donna qrtr page sunset 1 560 wide



10 THINGS YOU SHOULD DO EVERY DAY BEFORE 10am


morning routine 1024x1024 2yxjwml7lpqgltbsvvo9a8

 

“When you arise in the morning, think of what a precious privilege it is to be alive; to breathe, to think, to enjoy, to love.” ~ Marcus Aurelius

 

You don’t have to be a morning person to benefit from morning rituals. Most people hit snooze, roll out of bed and into some clothes while plunging into their day without a plan.

You, however, can choose to approach your day mindfully. Being mindful will increase the odds that you will feel good, be more productive and end up happier when it’s all over.

Here are ten things you should do every morning before 10:00 am to stack the deck in your favor.

Meditate

Meditating or even some simple breathing can help you begin your day with a sense of calm. Instead of reaching for your phone or checking email first thing in the morning, take just a few minutes to sit and experience the quiet.

There is plenty of activity during our day, make a commitment to start on a quieter note. It will set the tone for your day and will help increase your focus, energy, and optimism.

Reflect in Gratitude

grateful-morning-quote

“If the only prayer you said in your whole life was, ‘thank you,’ that would suffice.” – Meister Eckhart

Start your day by reflecting on what you are grateful for. A consistent practice of gratitude in the mornings will increase your awareness of gratitude throughout your day. It will also make you more resilient when challenges occur and help you put drama in perspective.

Set Your Daily Intention

In the quiet of the day, before the fires need putting out, plan your day by focusing on three goals you want to accomplish.

Make those goals a priority for the day. When you set about planning your day with intention, you are more likely to feel productive at the end of it.

Pad Your Schedule

As you go about setting your daily intentions, pad your schedule to allow yourself to tend to fires as they arise. Padding your schedule with free time will give you a better chance of achieving your goals and may even add some downtime throughout the day.

Hydrate

Your body awakens dehydrated, so it is very important to drink up first thing in the morning. In her book, The Body Ecology Diet, Donna Gates suggests you drink half of your entire daily water intake by mid-morning. It will flush your system of toxins, leave you feeling less hungry and reduce headaches throughout the day.

Stretch

You will be hard-pressed to find anyone who doesn’t wake up feeling a bit stiff. It isn’t always easy to incorporate exercise into a morning routine. If you were going to choose one thing, the American Journal of Sports Medicine suggests adding a short muscle-stretching sequence of exercises to your morning schedule.

Studies show that consistent stretching in the morning can increase flexibility, improve circulation, reduce stress throughout your day and improve posture.

Listen to Music

Starting your day with upbeat and fun music will not only wake you up but it will fill you with positive energy for your day.

2013 study found that music makes you feel good. According to study participants, the two most important benefits of listening to music are “mood regulation” and “self-awareness.”

Not only has it been shown to improve your mood but it can end up increasing motivation, performance, and lead to a better night’s sleep too.

Smile

morning

Start your day off by smiling at yourself in the bathroom mirror. Smiling will have a positive effect on your overall attitude and well-being, even when it starts out a little forced. Smiling makes you more approachable, and appear more trustworthy. In fact, The University of Montpellier discovered that smiling will also make you a more effective leader.

Clean Up After Yourself

Life is busy and morning routines can be a bit rushed. It can be very tempting when you are running behind to leave your clothes on the floor, dishes in the sink or leave the trash until later. Just do put them away!

Procrastination around cleaning up after yourself can prevent you from realizing our highest potential and best work. It also allows you to relax fully upon returning home. It is better to pro-actively clean up after yourself than waiting to be called out on it.

Do Your Hardest Task First

It might seem enticing to get a bunch of easy things checked off your to-do list, but it has been shown time and time again that doing your hardest task first leads to a more productive and happier day. You are more likely to remember the day as being a good one when your day gets better and is easier over time. The bonus: it helps stop procrastination over the things we like to do the least.

Article Source: http://www.powerofpositivity.com/



2014 Top Achiever Awards


We at Team 3000 Realty Ltd had the honour of awarding our top achievers at our first annual Red Carpet Awards Dinner this past Friday. 

The awards were: 

 

Achievement Award
“In grateful appreciation for your ambition and perseverance in 2014
Your dedication has not gone unnoticed”
Alex Almeida
Urszula Prondzinski
Joyce Wong


President’s Award
“Exemplary Sales Performance in 2014”
Dave Liu
Asad Syed
Belinda Pan
Kenneth Dixon
Debby Yao
Annette Denk
Bob Shadbakht
Hassan Tabanfar


Gold Award
“Outstanding Sales Performance in 2014”
Joyce Hubenig
Jordan Hurdal
Ben Ng
Sheron Hsiang


Platinum Award
“Excellent sales performance in 2014”
Charles Shapiro
Robert Alexander

It's an honour to support such outstanding professionals.

 Check back later in the week for some fun pictures of the evening!



Renos that make sense


image001

We all want our homes to look great. You know about regular maintenance but you might also want to renovate that tired bathroom or dated kitchen, or replace those older windows and redo the basement to create more living space. Here are six renos that may help to increase your home's value:

couple

Revamp the Bathroom. Every year the Appraisal Institute of Canada surveys its members and compiles a list of renovations that yield the best return on investment. Year after year refurbished kitchens and bathrooms head the payback list. An old toilet that's cracked or dirty or doesn't work properly is a turn-off. Vanities should be eye-catching and practical. Good lighting boosts value. Better yet - add a window if you can, to get natural lighting. If you want to save some money consider re-glazing the tub, rather than getting a new one. Bathroom upgrades can cost anywhere from $3,000 to $25,000 however may will recoup 75% to 100% of the initial cost.

 

Upgrade your Kitchen. This sits at the top of any reno list. It's the heart of a home and the room where families spend most of their time. So where do you start? This is the reno that can overstretch the budget because there is so much you can add. If you're adding high-end upgrades such as stainless steel appliances make sure they're not sitting on vinyl flooring or sitting against worn-out cupboards. Kitchen upgrades can cost anywhere from $5,000 to $75,000, however you may recoup 75% to 100% of the initial cost.

 

House needs a roof. This might not be the most exciting reno but it does have its perks. A dry house, for one. Curb appeal for another. Roofs aren't cheap but they last a long time. A new roof can cost anywhere from $10,000 to $30,000, however you may recoup 80% of the initial cost..

 

Try a coat of paint. This is your best bet to increase the value of your home. Paint is one of the easiest and cheapest things you can do to freshen up your home and add zip to it. A paint job will cost from $100 up to $4,000 for a large house, however you may recoup 100% of the initial cost.

 

Finish the basement. A finished basement is very attractive to buyers. Not only does it increase floor space but it can be a place for the kids and/or a place to put extra stuff. Basement renovations can cost from $3,000 up to $$50,000, depending on the size and what you add, however you may recoup 75% of the initial cost.

 

Go for new windows and doors. Doors and windows are the first impression visitors have of your home. You can boost curb appeal, lower heating and AC bills, and add value to your home by upgrading. New windows and doors will cost from $3,000 up to $25,000, for a large house, however you may recoup 75% of the initial cost.

 

Once you decide you want that new kitchen the next question is how to pay for it. In today's low interest market, your home equity is the first place to look. Today five-year variable rates are as lows as 2.2% and five-year fixed rates are as lows a 2.74%. A home equity line of credit may also work for you, depending on your personal situation.

 

Let's talk renos - call me today  

Crystal Lau

  Mortgage Consultant

  The Mortgage Group

  Tel.: 604-787-1043

  Fax: 604-629-6668

  cl@crystalmortgages.ca

  www.crystalmortgages.ca

 Whatever your borrowing circumstances are, I have options that work!!

 



Vancouver is the best place to live in North America


According to CBC News BC: 

vanelxn housing 20141109

Vancouver is the best place to live in North America, according to Mercer's latest Quality of Living Rankings.

The West Coast city placed fifth worldwide for the second year in a row. In 2005 the study ranked Vancouver 3rd in the world.

The annual study looks at everything from climate to housing and the political and social environment when ranking 230 cities.

The top ranking for 2015 went to Vienna, followed by Zurich, Auckland and Munich.

"Vancouver is the highest-ranking city in North America and the region’s only city in the top 10," according to the study.

Vancouver was followed by Toronto at 15, and Ottawa at 16. The highest ranking U.S. cities trail behind with San Francisco at 27, Boston at 34 and Honolulu coming in at 36.

The study is done to help multinational companies and other employers compensate employees when they're given international assignments.

Seven European cities dominated the top 10, including Dusseldorf in the 6th place, followed by Frankfurt, Geneva and Copenhagen in 9th.

Europe dominates top 10

"Despite concerns about economic growth, the cities of Western Europe continue to offer a stable environment for employees and employers," the report said.

London, placed 40, and was the highest-ranking city in the United Kingdom.

Elsewhere, Singapore, placing 26th in the world, was the top place in Asia-Pacific. Dubai, in 74th place, was the highest-ranking place in the Middle East and Africa.

Baghdad, Iraq came in last place.

Data for the study was collected in the fall of 2014.

 



Lynn Valley Homes - Westlyn


A unique area on the North Shore, Westlyn is located in the Lynn Valley area. This area is comprised of many different styles of detached housing. The natural beauty of the North Shore mountains and Lynn Canyon has always been attractive to the locals. This is a great area to raise children because of its great schools, great shopping and ease of access to Vancouver and the rest of the Lower Mainland. A short drive on Highway One west and you are in Horseshoe Bay. A little further drive along the scenic Sea to Sky Highway and you are world renowned Whistler Village. 

Here is an example of the older, rancher style homes in the area.

 v1103980 101 94

 

For more information on this property please click here: http://www.team3000.ca/v1103980-1358-e-18th-st or for other properties like this one contact Louie Pulice (President, Team 3000 Realty Ltd) directly at 604-341-0006



Current Market Outpacing Historical Averages


Home buyer and seller activity outpaces historical averages in February

Conditions within the Metro Vancouver* housing market continued to strengthen in February as home sale and listing totals came in well above the region’s ten-year average for the month.

Sold

 

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 3,061 on the Multiple Listing Service® (MLS®) in February 2015. This represents a 21 per cent increase compared to the 2,530 sales recorded in February 2014, and a 60 per cent increase compared to the 1,913 sales in January 2015.

Last month’s sales were 20.2 per cent above the 10-year sales average for the month.

“It’s an active and competitive marketplace today. Buyers are motivated and homes that are priced competitively are selling at a brisk pace right now,” Ray Harris, REBGV president, said.

New listings for detached, attached and apartment properties in Metro Vancouver totalled 5,425 in February. This represents a 15.4 per cent increase compared to the 4,700 new listings reported in February 2014.

Last month’s new listing count was 11.8 per cent higher than the region’s 10-year new listing average for the month.

The total number of properties currently listed for sale on the REBGV MLS® is 11,898, an 11.3 per cent decline compared to February 2014 and a 10.1 per cent increase compared to January 2015.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $649,700. This represents a 6.4 per cent increase compared to February 2014.

The sales-to-active-listings ratio in February was 25.7 per cent. This is the highest that this ratio has been in Metro Vancouver since March 2011.

“We’re seeing more multiple offer situations and generally more traffic at open houses today,” Harris said. “In a market such as this, it’s important to do your homework and work with your local REALTOR® before embarking on your home buying and selling journey.”

Sales of detached properties in February 2015 reached 1,296, an increase of 25.6 per cent from the 1,032 detached sales recorded in February 2014, and an 84.1 per cent increase from the 704 units sold in February 2013. The benchmark price for a detached property in Metro Vancouver increased 9.7 per cent from February 2014 to $1,026,300.

Sales of apartment properties reached 1,244 in February 2015, an increase of 20.5 per cent compared to the 1,032 sales in February 2014, and an increase of 63.7 per cent compared to the 760 sales in February 2013. The benchmark price of an apartment property increased 3 per cent from February 2014 to $386,500.

Attached property sales in February 2015 totalled 521, an increase of 11.8 per cent compared to the 466 sales in February 2014, and a 56.5 per cent increase from the 333 attached properties sold in February 2013. The benchmark price of an attached unit increased 4.6 per cent between February 2014 and 2015 to $481,500.

 



Thanks to Kim Spencer, REBGV's


It is so nice to know that our Board supports us!
 
 
2015 02 23 105147
 
Kim Spencer "The Ethics Guy" from the Real Estate Board of Greater Vancouver attended our Monday sales meeting this morning and provided us with great information. Among the many topics was a discussion about "Commission Advances" from pre-sales. After listening to what Kim had to say he re-confirmed what we had always thought to be true. The fact is that "Commission Advances" are nothing more than a LOAN. The agent has not earned commission until the deal completes. Which could cause a liability for the Agent as well as the Brokerage.  
 
Further discussions were held on the new "Paragon" system coming into effect in August which will replace mlxchange and fusion. Also coming soon is a new portal "REALTOR®" replacing REALTORLINK.ORG. This new portal is apparently much more user friendly. 
 
We also of course discussed ethics, professional conduct and staying out of "REALTOR® JAIL"
 
We want to thank Kim for his participation and support.