September 2021 Market Update

 
Happy September!
The end of summer always brings a touch of melancholy as September routines and responsibilities settle in until summer delights return once again the next year. For many of us, September is a mini New Year, especially for those of us who are teachers or who have school-aged children or book clubs, bridge clubs, church groups or various other hobbies that enjoy a summer hiatus. So many things begin anew. It's an exciting time as we anticipate the new experiences ahead. It can be the perfect time to take on new challenges or reset our goals. Balance Group utilizes this time to evaluate our goals and services so we can continue to better serve you. 

Our society is certainly experiencing a tumultuous time. Sadly, differing opinions have incited a lot of angst. As Realtors, differing opinions are usual in our lives. While on a much smaller scale, at the time they arise, these differences are extremely important when negotiating an acceptable contract of purchase and sale between a buyer and seller. They can trigger emotions and opinions unexpectedly. Sellers and Buyers always have different opinions especially when it comes to a home's value. One of our skills is to assist our clients to work through the differences and bring both sides to a mutual agreement.

 
Photos from top left: (1) Cécile viewing a unit with our client that has a stunning view and outdoor space (2) Sunset from the beach in front of Killarney Manor, Kitsilano (3) Creative decorations at a home in Lions Gate Village (4) Cécile and her family going on a plane for the first time in over two years (5) Jenny and her daughter Maya on the windy ferry (6) Jenny’s daughter Ellie on a hike at Lake Cowichan (7) Cécile's son Abel on a sailing camp at Kitsilano Yacht Club (8) beautiful laundry room in new construction in Kerrisdale - definitely hard to find!

Hope your September is off to a great start!

Allyson, Cécile and Jenny

p.s. Please remember to vote so you can voice your opinion.

 

BCREA: 2021 Housing Forecast Update

The British Columbia Real Estate Association (BCREA) released its 2021 Third Quarter Housing Forecast Update.

Multiple Listing Service (MLS) residential sales in the province are forecast to rise 26 per cent to 118,350 units this year, after recording 94,007 sales in 2020. In 2022, MLS®residential sales are forecast to pull back 15 per cent to 100,150 units.

READ MORE

 

Click the link below to view the monthly market statistics for your area in an easy to understand infographic. Listings, sales and prices are summarized for condos, townhomes and single-family homes in cities across BC. For more up-to-date market information please visit macrealty.com/blog.

 

Abbotsford

Bowen Island

Burnaby East

Burnaby North

Burnaby South

Cloverdale

Coquitlam

Kelowna

Ladner

Langley

Maple Ridge

Mission

Nanaimo

New Westminster

North Delta

North Surrey

North Vancouver

Parksville

Pitt Meadows

Port Coquitlam

Port Moody

Richmond

South Okanagan

South Surrey/
White Rock

Squamish

Sunshine Coast

Surrey - Central

Tsawwassen

Vancouver - East

Vancouver - West

Victoria

Vernon

West Vancouver

Whistler

14 Tips for Bringing Plants Inside and Caring for Them Through Winter

Even indoor plants can sometimes have a tough time surviving the winter. Fortunately, there's a lot you can do to help your house plants make it through the winter in the best of health. Here's what to keep in mind.

READ MORE

 
 

B.C. Real Estate News

BRITISH COLUMBIA

Central 1: Caution as pandemic shifts towards greater normalization (Business Examiner)

Truth Tracker: Will the Liberal plan to ban blind bidding make homes more affordable, and can they even pull it off? (CTV News)

Forecast: B.C. home prices soar as supply falls (BIV)

7 things the fall housing market could have in store for buyers in B.C. (The Squamish Chief)

LOWER MAINLAND

Metro Vancouver home sales rise, listings fall (City News 1130)

Pace of home sales slowed in August, but prices still increasing: Vancouver board (Niagara Falls Review)

Demand for Fraser Valley homes continues to soar: FVRB (Vancouver Sun)

Fewer real estate listings, sales in Richmond last month (Richmond News)

Metro Vancouver is made for commercial real estate (Burnaby Now)

New housing data show a sluggish turnover rate (The Globe and Mail)

Metro Vancouver condo developers pivot to rentals (BIV)

WHISTLER & SQUAMISH

What is eco-design, and how is Squamish doing with it? (The Squamish Chief)

VICTORIA & VANCOUVER ISLAND

Historically low inventory fuelling real estate price hikes across Vancouver Island (My Cowichan Valley Now)

Lack of housing supply drives up prices, slows sales in August (Times Colonist)

Multi-building proposal pitched for Capital Iron area; could include a new art gallery (Times Colonist)

OKANAGAN

City of Kelowna selling two 'gateway' properties on Harvey Avenue for $11M (Glowbal News)

Kelowna council rejects 36-storey tower proposal for downtown (The Daily Courier)

Tiny homes get big boost in housing-starved Kelowna (BCB News)

Housing sales boom in Okanagan surges ahead (Kelowna Capital News)

 
 

This communication is not intended to cause or induce breach of an existing agency agreement.

**Should you no longer wish to receive this communication, please reply to this email with "Unsubscribe" in the subject line.

©2021 Macdonald Realty Ltd. 2105 W 38th Ave, Vancouver, B.C. V6M 1R8 | macrealty.com

Read full post

February 2021 Market Update

 
So much news to share ... 
 

The Year of the Ox begins February 12th. Chinese New Year or Spring Festival celebrates the beginning of a new year on the traditional Chinese calendar. The first day of Chinese New Year begins on the new moon that appears between January 21 and February 20 every year. The Chinese New Year is associated with several customs. The evening preceding New Year's Day is frequently regarded as an occasion for Chinese families to gather for the annual reunion dinner. Another custom is the decoration of windows and doors with red paper-cuts and couplets that represent good fortune or happiness, wealth, and longevity. We are coming into the Year of the Ox, those born in the Year of the Ox are known for honesty, dependability, strength, and determination. May your year be filled with good health, happiness, and great prosperity.

 

Valentine's Day is this week! February is the month of love. We wish everyone a Happy Valentine's Day! It's a good time to send love to your family and friends. Support local business - Treat yourself to a lovely dinner of take-out!  

 

Please voice your opinion. We have mixed feelings regarding the City of Vancouver's decision to require permits to park on all Vancouver streets. We have included the link to the City of Vancouver's permit parking survey here (https://shapeyourcity.ca/parking). We urge everyone to click on the link and participate in this important survey by February 28. The outcome will definitely impact your life.

 

The real estate market has quickly become a fast-paced spring market even though it is still winter. All market areas are experiencing balanced or sellers' market conditions. If you are thinking of selling, now is a good time! When selling in a sellers' market, most experienced realtors are able to get you a good selling price. When 'bidding wars' or competing offers are the norm, it is extremely important to have realtors who are experienced, honest, detail-oriented and calm in a fast-paced market to protect your best interests. Keeping clear communication with the client should be the top priority. These are skills Balance Group has honed well. If you are thinking of buying to take advantage of the low interest rates, please consult with us to ensure we can help you get organized to make your best offer. There is an art to drafting and presenting a winning offer in a competitive sellers' market and Balance Group has the experience to help you.

Lastly, a huge thank you to all our lovely clients and friends for helping us achieve the Award of Excellence for 2020! We truly feel very grateful!


Stay safe,

Allyson, Cécile and Jenny



BCREA: Housing market likely to enjoy an exceptional 2021

With Canada's economic recovery and COVID-19 vaccinations each proceeding at a healthy pace, British Columbia's housing market can look forward to an exceptional 2021, according to the BC Real Estate Association.

In its latest Housing Forecast Update covering the first quarter of this year, the BCREA said that the province's residential sales will likely grow by 15.6% to 108,680 units in 2021, before a 9% decline to 98,850 units in 2022.

READ MORE

 

Click the link below to view the monthly market statistics for your area in an easy to understand infographic. Listings, sales and prices are summarized for condos, townhomes and single-family homes in cities across BC.

 

Abbotsford

Bowen Island

Burnaby East

Burnaby North

Burnaby South

Cloverdale

Coquitlam

Kelowna

Ladner

Langley

Maple Ridge

Mission

Nanaimo

New Westminster

North Delta

North Surrey

North Vancouver

Parksville

Pitt Meadows

Port Coquitlam

Port Moody

Richmond

South Surrey/
White Rock

Squamish

Sunshine Coast

Surrey - Central

Tsawwassen

Vancouver - East

Vancouver - West

Victoria

Vernon

West Vancouver

Whistler

B.C. real estate defies pandemic with sales, price growth in 2020

British Columbia's real estate proved remarkably resistant to the COVID-19 pandemic, according to new data from the B.C. Real Estate Association.

The organization released data on the 2020 market Wednesday showing significant growth in both sales and in prices.

READ MORE

 
 

B.C. Real Estate News

BRITISH COLUMBIA

The pandemic housing craze is fueling another boom: reverse mortgages (Global News)

British Columbia Housing Market Set Up for Very Strong 2021 (Business Examiner)

2021 home sales will rival 2016 boom year, says B.C. Real Estate Association (Vancouver Sun)

Pandemic housing boom means affordability is no longer just a big-city problem(Global News)

B.C. home sales up more than 20 per cent in 2020: BCREA report (The Province)

B.C.'s speculation tax helped free up housing for long-term rentals, ministry says (CTV News)

B.C. leads the way as residential building booms in Canada, despite pandemic (CBC)

LOWER MAINLAND

High demand and higher prices for Vancouver real estate in January, says REBGV (CBC)

Why detached home prices in Greater Vancouver have been rising, while condo prices have stayed static (CBC)

Bidding wars are back: Record-setting January for Fraser Valley home sales (CTV News)

Greater Vancouver home sales running far ahead of the same time last year, early data shows ( Business in Vancouver)

WHISTLER & SQUAMISH

Whistler real estate was red hot in late 2020 (Pique News)

VICTORIA & VANCOUVER ISLAND

Average Greater Victoria home price sets new record, surpasses $1.2 million (CHEK News)

Local buyers keep Victoria housing market steaming (Western Investor)

16% boom predicted for B.C. real estate sales in 2021: experts (Victoria News)

High demand, low supply drove up Greater Victoria home prices in 2020 (Saanich News)

Lowest inventory on record plagues Vancouver Island homebuyers (My Campbell River Now)

OKANAGAN

$22 million land sale sets record in Kelowna (Western Investor)

Province rejects West Kelowna's second request to be exempt from speculation tax (CBC)

City of Kelowna buys lakefront property for $5.3M to expand Strathcona Park (Kelowna Now)

‘This year is the record': Okanagan real estate sales hit new high in 2020 (Global News)

 
 

This communication is not intended to cause or induce breach of an existing agency agreement.

**Should you no longer wish to receive this communication, please reply to this email with "Unsubscribe" in the subject line.

©2020 Macdonald Realty Ltd. 2105 W 38th Ave, Vancouver, B.C. V6M 1R8 | macrealty.com

Read full post

Happy Thanksgiving!!


We are all becoming creative as we determine how to celebrate Thanksgiving 'COVID -style'.  Jenny and her family are having a potluck gathering in her sister's backyard. A rain canopy is standing nearby in case it is needed! Allyson’s family is splitting up into several groups as their usual crowd of 15 – 20 people is not possible this year. Cécile is supporting a local restaurant by ordering a “takeout” Thanksgiving dinner.


Whether you're having a small gathering with a few loved ones or a distanced gathering via zoom, we hope you are able to find a moment to focus on what is important this weekend … gratitude for your good health, family, friends and all the other blessings in your life.


Be kind. Be calm. Be safe.


Allyson, Cécile and Jenny

Read full post


In 1968, Apollo 8 was the first crewed spacecraft to reach the Moon, orbit it and return. Its three-astronaut crew - Frank Borman, James Lovell, and William Anders - were the first humans to see the whole, round Earth from space, to witness and photograph an EarthriseEarthrise is a photograph of Earth and some of the Moon's surface. Earthrise helped people to see our world for what it is: a planet without borders, a home to all people, a life-sustaining wanderer through space. That new vision of our world was so powerful that it inspired the first Earth Day in 1970. 


Yesterday definitely was a different kind of Earth Day with most of us isolating at home and so few cars on the road!  The lack of Earth Day art projects or in-class celebrations for our kids, made it feel very different. In years past, we've become accustomed to our children coming home from their school's Earth Day commenting upon how they had all the lights off in their classrooms and other sustainable ways of living in order to take care of Mother Earth. 


It is apparent that humans are very adaptable beings. COVID-19 is not stopping the real estate market from moving along. Accordingly, we have been very busy this week. The market is more active with buyers who had been waiting on the sidelines now taking this opportunity to look for properties. Please let us know if you need our help or have questions. 


We hope you are all doing well. We always love to hear from you. If you have time, feel free to send us an email or give us a call and let us know you are doing. 


The Earthrise message was clear: Earth "really is one world". The world response to COVID-19 confirms this message as well. One world, one people. 


Be safe. Be kind. Be well. 

Allyson, Cécile and Jenny

Read full post

Staying Positive

We hope you are all staying healthy and are adjusting to the lifestyle changes we have been adopting this past month. Unless you relish “your alone time”, it can be a difficult transition for most people. We found starting our day with gratitude, goals, and self-care (meditation and exercise) helps us to focus and remain positive in the current environment. While practising social distancing, we are staying connected with our friends and families via phone calls, emails or video.


We feel fortunate to be part of the Macdonald Realty team. We are benefiting from our ongoing virtual Monday morning meetings. The meeting allows us virtual connection with the other 200 Macdonald Realtors and to stay on top of the market activities as we share and exchange ideas and experiences. Market activity has slowed down for obvious reasons, but we are still seeing sales due to pent-up demand. There are still sellers who must sell and buyers who must buy. We are staying on top of the market and the listing inventory as we know that our buyers may be able to negotiate a favourable contract in this market.


Please remember we are just a phone call away if you feel bored at home or if you need help with your groceries!


We found a lovely, positive video about Covid-19 and felt it was a great one to share with you all.


Link here: https://www.facebook.com/BalanceGroupVancouverRealtor/videos/250688496322239/ 



Stay healthy and safe,

Allyson, Cécile, Jenny

Read full post

Property insurance premiums for stratas and condos continue to rise.


Do you know what the ten most common water-related damages are?

What can Councils and Owners do to prevent water damage?


Why do unit owners need personal insurance?


Find out more here: below useful information from BFL Canada

Send us an email if you want a PDF copy of the information.


Read full post

 

We want to sincerely thank our clients for trusting us with one of their biggest decisions. Last year, we helped our amazing clients purchase their first homes, upsize to bigger townhouses and houses, downsize to single level living, find homes closer to work and investments. We appreciated the opportunity to help all of you, and we look forward to assisting our friends and new clients this year.


We also want to thank our supporting staffs at Macdonald Realty. Thank you to our creative marketing team to help us create listing brochure with professional photos and floor plan for our sellers. Thank you to our conveyancer in preparing the closing files for our buyers and sellers’ lawyer to ensure the Completion process goes as smoothly as possible.


We would also like to thank Joyce Tsang with Mortgage Architects to help our clients arranging financing. Thank you to Flow Staging & Interior Design, Fluff Design, and our qualified home inspectors for helping our clients.

Read full post

Happy Snow Day!

Hope everyone is staying safe on the roads this week. Just a friend reminder that City of Vancouver requires all property owners to clear snow and ice from sidewalks around their property by 10:00am every day.


If you have limited mobility or if you are senior, and are unable to clear the snow, ask a neighbour for help or request a Snow AngelFailure to remove snow and ice may result in fines.



Want to learn more about volunteering as Snow Angel and help a neighbour, visit City of Vancouver website here.



Pictures from City of Vancouver website

Read full post

INSPECTION INSIGHTS from Pillar-to-Post Home Inspectors!

Asbestos: What You Need To Know

Maybe you’ve been told your home has asbestos. Do you need to worry? We’re here to educate and inform!


For years, asbestos was widely used in wall and ceiling insulation, vinyl flooring, insulation for heating ducts, pipe wrap for water heating systems, roof tiles, acoustic ceiling tiles and much more. Many of these materials are still present in thousands of homes. Breathing asbestos fibers over a long period of time can lead to asbestosis, lung cancer and mesothelioma.


Is it always a problem? Asbestos poses a health risk when the fibers become airborne, which can happen if materials are crumbling or damaged. If there is minor localized damage, it can be professionally repaired by encapsulating the asbestos fibers with a specialized sealant. If the asbestos-containing material is in good condition, the best course of action may be to simply leave it alone.


The biggest risk is when homeowners and other non-professionals attempt asbestos removal themselves. Disturbing asbestos usually makes it dangerous. If it must be removed, it’s a job for an expert who will also properly dispose of it. In some cases, such as a home renovation, asbestos removal is the only option.

Read full post
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.