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Vancouver Real Estate News from The Pearce Team
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Hi Don,
The latest Vancouver real estate market stats are listed for you below. Just reach out if there’s a particular area that you’d like more information on.
There are also details on the upcoming Greek Day on Broadway event that's scheduled to take place later this month.
If you're planning an open house, it's important for your home to be in tip-top shape so this month, there are some simple yet effective tips on how to dress your home for success!
Finally, peel & stick wallpaper is all the rage but if you’re looking to remove your dated old wallpaper, there are a few environmentally friendly tips that’ll help you easily peel it away.
Thanks for checking out this month's newsletter. Please reach out if you ever have any questions about real estate, even if it’s just to find out what the house down the street sold for – it’d be great to hear from you!
Cheers,
The Pearce Team
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VANCOUVER REAL ESTATE MARKET UPDATE
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Watch our May 2022 overview of housing market activity in Metro Vancouver featuring REBGV Chair Daniel John.
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Real Estate Locally in Maple Ridge
Sales of detached homes were 83 which is a 48% decrease over May 2021 while average selling price was $1,429,451 which is 12% increase over May 2021. Average selling price year to date is $1,575,806 which is a 28% increase over May 2021. Inventory is 369 which is a 42% increase over May 2021
Sales of townhomes were 50 which is a decrease of 29% over May 2021 while average selling price was $815,623 which is 20% increase over May 2021. Average selling price year to date is $882,476 which is a 32% increase over May 2021. Inventory is 120 which is a 76% increase over May 2021.
Sales of condos / apartments were 41 which is a decrease 19% over May 2021, while average selling price was $557,719 which is a 30% increase over May 2021. Average selling price year to date is $566,498 which is an increase of 30% over May 2021. Inventory is 90 which is an increase of 26% over May 2021.
What does all this mean
The market has slowed substantially and we are in a more balanced market. Increased mortage rates are putting downward pressure on prices and activity. There is another .5% forecast for July.13th . The current 5 year fixed rate mortgage is now 4.75% which is over 2.5% higher than it was a year ago. The current variable rate is 3.25%.
While prices are down it doesn't mean it is less expensive to buy a property.. You may pay less for the property but with the increase in mortgage rates the amount you pay does not decrease that much.
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Come out and enjoy a huge celebration of Greek food and culture!
It’s that time of year again when everyone gets together to enjoy Vancouver’s largest Greek festival! This year, it all happens on Sunday, June 26th.
This popular street festival, presented by the Hellenic Canadian Congress of BC, is the culmination of Greek Heritage Month.
A five-block stretch of West Broadway, from Macdonald to Blenheim will be closed off to traffic to make room for live music, dancing, and an array of delicious Greek food!
Speaking of food, make sure to come hungry so you can fill up on souvlaki, spanakopita, loukoumades and a variety of other delicious Greek dishes!
Spread the word and bring your friends and family out to Greek Day on Broadway to enjoy this fantastic street party where there’ll be something for everyone. OPA! |
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Maple Ridge Celebrates Canada
It’s time to reconnect and celebrate Canada’s birthday! Memorial Peace Park will be filled with diverse entertainment, games, activities and incredible food from different cultures. Catch entertainment on the Main Stage or enjoy the Street Party on 224 Street for local music, performances and more. The celebration includes a Farmers Market, artisan market, water spray and play area, food trucks, pony rides, roving entertainers, games, and a community BBQ. There w ill be something for everyone to enjoy!
- Date | July 1, 2022
- Time | 12:00 pm – 6:00 pm
- Location | Memorial Peace Park
Canada Day in Pitt Meadows 2022
Canada Day in Pitt Meadows will be an in-person event this year! Join us in šxʷhék̓ʷnəs (Spirit Square) on Friday July 1, 2022 for a pancake breakfast, show & shine, artisan alley, dog show, kids zone and main stage entertainment.
Event Schedule:
| 9am - 1030am Lions Club Pancake Breakfast (cash only) |
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| 9am - 2pm show & shine, entertainment, artisan alley & kids zone |
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| 930am - 10am dog show (more info coming soon!) |
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| 11am - 2pm food trucks (back parking lot) |
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Show & Shine
If you have a vintage vehicle and would like to join the Show & Shine please see the application below. Each entrant receives a free breakfast!
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PLANNING A SUCCESSFUL OPEN HOUSE
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If you’re having an open house, it’s important to dress your home for success!
Open houses are slowly starting to make a comeback in the Vancouver area, but they’re not always necessary as they can sometimes attract unqualified buyers or those who are just curious.
There are instances though where an open house can lure that perfect buyer or perhaps spark a bidding war. It can also motivate buyers to act quickly if they know there’s an open house coming up.
If you and your agent decide that an open house is the way to go, it’s important to get it right so here are a few tips that’ll help dress your home for success:
Lighten Up
Open up the windows and blinds to let in as much fresh air and natural light as possible. Flowers also brighten things up and they’re a great way to draw attention to features such as a bay window.
Nothing Personal
Potential buyers shouldn’t feel as though they’re intruding so remove any personal items such as family photos or the kids’ artwork that’s hanging on the fridge.
Back It Up
Showcasing the beauty of your backyard is important as buyers, now more than ever, are looking for a tranquil outdoor space to relax in so cut the grass, trim the hedges and clear away any clutter.
Seasoning
If you have an open house in the winter or on a dark rainy day, be sure to showcase your garden by displaying photos of your yard during the spring, summer and fall when it’s at its best.
Spread the Word
Tell the neighbours about your upcoming open house so that they can spread the word to any friends and/or family members who might be interested in moving to the area.
The Nose Knows
Baking cookies just before an open house will leave a pleasant aroma that’ll remind people they’re in a loving family home rather than just a house. You can even leave some out for your visitors to enjoy!
Get Out!
It’s always best if the homeowners aren’t around during an open house as potential buyers need to be able to relax and envision themselves living in your home while also feeling comfortable enough to voice their objections.
On the day of your open house, your home should be sparkling clean and completely de-cluttered. You only get one chance to make a winning first impression when you open your doors and showcase your home to potential buyers, so it’s important to take the time and do it right. |
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Wallpaper used to be all the rage, and it’s starting to make a comeback.
You can now buy peel & stick wallpaper that’s a breeze to put up and just as easy to take down.
This new type of wallpaper is a great way to quickly create a stunning accent wall. It’s also perfect for covering up “problem walls” that are starting to show cracks and other imperfections.
If you’ve got some of the older-style wallpaper hanging around your home that you’re looking to get rid of, here are a few environmentally friendly solutions that’ll help you easily scrape and peel it away:
Hot Vinegar
Mix equal parts of white vinegar and hot water. Use a paint roller or large brush to apply the solution to your wallpaper.
Soften It Up
Fill a spray bottle with a 50/50 mixture of fabric softener and hot water and spray it evenly on the wallpaper.
Wash It Away
Mix 1 part dishwashing liquid and 3 parts warm water. Make sure to use a dishwashing liquid that includes a degreaser.
Once the wallpaper has been removed, wash the walls with warm water and let them dry thoroughly before painting them or hanging your new peel & stick wallpaper.
If you do it right, that old ugly wallpaper can be easily removed, so if you find the home of your dreams but it’s buried under a layer of hideous wallpaper, don’t let it deter you from putting in an offer! |
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NEW FORMAT FOR PROPERTY SALES
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Nothing makes me happier than helping my amazing clients find that perfect home! If you’re looking to relocate, reach out so that we can discuss your next move. |
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**P.S**
Please let me know if you'd like some assistance in finding your dream home or planning that move. Check us out at www.ThePearceTeam.com. We have redesigned the site make hunting for your new home a little easier. You can now search for the SOLD information on the MLS on our website. You can also use the "birds eye " and "street" views to get a better idea of surrounding area and also for amenities you can use the walk score.
If you just curious about what the house down the street sold for then check on our website or just give me a call. I'm always happy to assist.
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