Local Maple Ridge

Single family house September sales totalled 76 with the average sale price of $480,923. This a 31% increase in number of sales and average price decrease of 8% compared to September last year. Townhouse September sales totalled 26 with an average sale price $287,036. This is a 100% increase in the number of sales and 9% increase in average price over last September. Condominiums September sales totalled 13 with the average sale price of $193,523. This is an 8% increase in number of sales and average price decrease of 1% over last September.

Total of all types of sales for September was 115 with an average sale price of $404,599. This is a 38% increase in number of sales and a 7% decrease in average price over last September.

Low volumes cause the statistics to vary quite a bit from month to month.

Year to date our average prices for single family are basically unchanged, townhouses also unchanged and condos decreased by about 1%. Average price for a single family in Maple Ridge has not changed in 3 years. We have seen about a 7-10% drop in average sale price of town homes and condos in the same time period.

The number of properties on the market in Maple Ridge for September was 1018 which almost identical to September 2012. .

For more detail just call 604-466-4549 or email

pearceteam@telus.net .

As Realtors we are often asked "when is the best time to put my property on the market?"

The best answer is "When it works into your plans" . There are always buyers looking to buy and sellers looking to sell.

The highest number of houses are on the market in the spring from early February to the end of June. If you are on the market at that time there is more competition or choice for the buyer. These sellers are usually looking to have their house sold in the spring so they can be settled by mid year when kids are out of school and people are on summer vacation.

The summer usually has a less number of buyers as they are busy with vacations and family. There are still lots of houses on the market at this time and with less buyers the competition is very strong from a sellers point of view.

The fall, September until the end of November, usually sees more buyers back in the market as they want to get moved and settled before year end. This time of the year the number of houses on the market begins to decline in early November.

December and January are the months when there is the least amount of competition from a sellers point of view as the number of properties on the market is lowest for the year. It is also when a lot of homes are decorated for the festive season and show very well. Festive lights and seasonally baking may invoke strong emotions from a buyer. Purchasing a home is about a little logic and a lot of emotion.

Most critical for you as a seller is to choose when works best for you, make your home shine and price it right. There are always buyers out there looking for the "perfect" home. Regardless of the time of year, that house may be yours.

Pricing your home correctly is critical to a successful sale as it will help your home sell for the most amount of money, in the shortest amount of time.

Determining a home's asking price involves comparing similar homes that have recently sold while taking past, present and future local market trends into account.

Although you may have your own personal opinion of what your home's worth, it's important to be realistic and unbiased. In the end, the market will determine your home's true value.

There's always a huge buzz when a new property hits the market but if the price is too high, it will quickly become stale and there won't be any incentive for buyers to make a swift, strong offer. Worse yet, buyers will start to wonder what's wrong with it!

Overpricing your property will also help your competition as buyers will see other homes in your area as much better deals since they're less expensive. If your home is priced at fair market value, those same buyers will consider your home more seriously.

Having your property sit on the market is also inconvenient as you'll constantly have to keep it in a show-ready state. Furthermore, carrying costs such as mortgage interest, insurance, taxes and utilities will quickly add up if you get stuck carrying two homes at once.

Pricing a home is part art and part science. Market factors such as the economy, time of year and interest rates can all make a huge difference. Your home only gets one chance to make a great first impression so it's critical to enlist the services of a professional real estate agent to help you get things done properly from start to finish.

Planning for a house fire isn't something most people want to think about; however a fire escape plan could mean the difference between life and death. Here are a few points to consider:

• draw up a floor plan of your home that shows at least two ways out of each room
  
  
• crawl through escape routes with your family during semi-annual practice drills
  
  
• ensure there are no obstacles in front of windows, doors and escape routes
  
  
• family members need to know how to open all windows and remove screens
  
  
• make sure escape ladders are accessible and not buried in the back of closets
  
  
• designate a special meeting place for all family members once you've evacuated
  
  
• remind children never to re-enter a burning home under any circumstances

If you live in a condo or apartment building, ensure you know the evacuation plan and do some practice drills. Being prepared and knowing what to expect is key in any emergency situation. Having a fire escape plan could save your family the precious minutes that make the difference between life and death.

Adding epsom salts, which contain magnesium sulfate to your bath helps to relax muscles and relieve stress. Here are a few lesser known uses for epsom salts:

• use them to fertilize your garden
  
  
• sprinkle them around your garbage cans to deter animals
  
  
• mix them with dish soap to scrub stains away
  
  
• soaking in epsom salts can help draw out a splinter

These are just a few of the many benefits of epsom salts -- an inexpensive, natural product that can be found at any drugstore.

August activity in the Greater Vancouver housing market finished well above last year’s pace and slightly below the 10-year average for the month.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,514 on the Multiple Listing Service® (MLS®) in August 2013.

This represents a 52.5 per cent increase compared to the 1,649 sales recorded in August 2012 and a 14.7 per cent decline compared to the 2,946 sales in July 2013.

Last month’s sales were 4.6 per cent below the 10-year sales average for the month.

“We’ve seen a healthy amount of demand in the marketplace this summer compared to the number of homes listed for sale,” Sandra Wyant, REBGV president said.  “The market today is much stronger than we saw last year and is consistent with our long-term averages for this time of year.”

New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,186 in August.  This represents a 3.5 per cent increase compared to the 4,044 new listings reported in August 2012 and a 13.8 per cent decline from the 4,854 new listings in July of this year.

The total number of properties currently listed for sale on the MLS® in Greater Vancouver is 16,027, which is an 8.8 per cent decrease compared to August 2012 and a 3.6 per cent decline from July 2013.  The sales-to-active-listings ratio currently sits at 15.7 per cent in Greater Vancouver.  This ratio remains consistent with balanced market conditions.

“People entering the market should not confuse stronger sales activity with rising prices.  Home prices have been quite stable and consistent for much of this year,” Wyant said.

The MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver is currently $601,500.  This represents a 1.3 per cent decline compared to August 2012 and an increase of 2.3 per cent since the beginning of 2013.

Sales of detached properties reached 1,052 in August 2013, an increase of 69 per cent from the 624 detached sales recorded in August 2012, and a 3.1 per cent increase from the 1,020 units sold in August 2011.  The benchmark price for detached properties decreased 2 per cent from August 2012 to $923,700.

Sales of apartment properties reached 1,018 in August 2013, an increase of 40.4 per cent compared to the 725 sales in August 2012, and an increase of 6.6 per cent compared to the 955 sales in August 2011.  The benchmark price of an apartment property decreased 1.1 per cent from August 2012 to $366,100.

Attached property sales in August 2013 totalled 444, an increase of 48 per cent compared to the 300 sales in August 2012, and a 10.2 per cent increase from the 403 attached properties sold in August 2011.  The benchmark price of an attached unit decreased 1.1 per cent between August 2012 and 2013 to $457,000.

Local Maple Ridge

Single family house August sales totalled 75 with the average sale price of $528,834. This a 22% increase in number of sales and average price increase of 8% compared to August last year. Townhouse August sales totalled 19 with an average sale price $292,552. This is a 24% decrease in the number of sales and average price unchanged over last August. Condominiums August sales totalled 17 with the average sale price of $166,347. This is an 21% increase in number of sales and average price decrease of 17% over last August.

Total of all types of sales for August was 111 with an average sale price of $432,873. This is a 11% increase in number of sales and a 8% increase in average price over last August.

Low volumes cause the statistics to vary quite a bit from month to month.
Year to date our average prices for single family are basically unchanged, townhouses also unchanged and condos decreased by about 1%. Average price for a single family in Maple Ridge has not changed in 3 years. We have seen about a 7-10% drop in average sale price of town homes and condos in the same time period. 

 
The number of properties on the market in Maple Ridge for August is 1028 which is

1% more than last August.

For more detail just call 604-466-4549 or email
pearceteam@telus.net . 

Taking the time to regularly maintain your property is critical as it helps protect your most valuable investment.

It's also much more cost effective to pro-actively fix small problems as opposed to trying to fix them once they're past the point of no return.

Regular maintenance should be part of your routine so here's a fall home maintenance checklist to help keep you organized:

• fix any cracks or gaps you see in the driveway
  
  
• inspect your locks to make sure they're operating properly
  
  
• test and clean your carbon monoxide and smoke detectors
  
  
• inspect your furnace filter and schedule a furnace tune-up
  
  
• check your roof for leaks and damaged shingles
  
  
• inspect your chimney for obstructions such as bird's nests
  
  
• check the weatherstripping on your windows and doors
  
  
• rake up leaves and aerate/fertilize your lawn
  
  
• clean leaves from gutters and test downspouts with a hose
  
  
• ensure water doesn't pool around your home as it can damage your foundation
  
  
• check your home's exterior for any holes that rodents could use to gain entry

Preventative maintenance will help ensure small problems don't turn into big headaches that need to be professionally attended to on short notice.  Just a little time and planning will help you maintain your home's value and you'll also save money each month as your home will be much more efficient.

Maximizing your vehicle's fuel efficiency will not only save you money but you'll also be doing your bit for the environment!  Here are a few tips that'll pay off at the pump:

1. Turn it Off - Don't idle as it unnecessarily wastes fuel.
   
   
2. Take it In - Regular tune-ups will increase your car's efficiency.
   
   
3. Check & Inflate - Keep your tires inflated to the proper pressure.
   
   
4. Slow Down - Speeding increases fuel consumption by as much as 50%!
   
   
5. Don't Brake Down - Don't constantly jam on your brakes and then rapidly accelerate.
   
   
6. There's an App for That! - Download an app that reports the cheapest local gas prices.
   
   
7. Lighten Up - Remove unnecessary items from your vehicle as extra weight reduces fuel efficiency.

The best way to save on gas is to keep your car in the driveway so next time you climb behind the wheel, ask yourself if you can walk there instead.  Just a few small changes to your driving habits such as combining errands or carpooling to work will save you a small fortune over time!

You've probably seen those innocent looking Facebook posts that ask you to "Like" a page in order to "help so and so get her kidney transplant!".

You want to help so you click "Like" but most of these pages are scams and once you "Like" them, your friends will see you fell for it and worse yet, they may get roped in as well.

Once these pages have enough "Likes", they're sold to businesses who use them to make their own pages more popular or they're rebranded and sold to unscrupulous marketers who may even use them to spread malicious software.

Cybercriminals prey on Facebookers because people are much more likely to trust links that are unknowingly spread by their own friends.  Be careful what you "Like" on Facebook as scammers are everywhere!

Vancouver Real Estate board overall

Single family houses sales for July totalled 1259 with the average sale price of $1,144,592. This 59% increase in number of sales and 9% increase in average price over last year same time period (July).

Townhouse sales for July totalled 487 with an average sale price of $547,979. This is a 26% increase in the number of sales and an increase of 1% in average price over the same time period last year (July).

Condominiums July sales totalled 1210 with the average sale price of $441,690. This a 30% increase in number of sales and 8% increase in average price over the same time period last year (July).

Total of all types for July was 2956 sales with an average sale price of $758,730. This is a 40% increase in number of sales and 13% increase in average price over July last year.

The Vancouver Real Estate Board sales volume year to date is down by 2% year to date and year to date average sales price has increased slightly by 2%. The number of active listings is 8% lower this July compared to last July. It would appear that prices have stabilized in both single family, townhouses and condos and we have a more balanced market.

Local Maple Ridge

Single family house July sales totalled 106 with the average sale price of $539,939. This a 4% increase in number of sales and average price increase of 9% compared to July last year. Townhouse July sales totalled 33 with an average sale price $307,386. This is a 22% increase in the number of sales and average price increase of 11% over last July. Condominiums July sales totalled 21 with the average sale price of $204,911. This is an 4% decrease in number of sales and average price increase of 25%% over last July.

Total of all types of sales for July was 160 with an average sale price of $448,003. This is a 6% increase in number of sales and a 10% increase in average price over last July.

Low volumes cause the monthly statistics to vary quite a bit from month to month.

Year to date average prices for single family are basically unchanged, townhouses also unchanged and condos increased about 5%. Average price for a single family in Maple Ridge has not changed in 3 years. We have seen about a 7-10% drop in average sale price of townhomes and condos in the same time period.

The number of properties on the market in Maple Ridge for July is 981 which is 4% less than last July.

For more detail just call 604-466-4549 or email

pearceteam@telus.net .

If you're planning on selling your home, you may have considered putting up a "For Sale" sign and doing it yourself.

Many people have successfully sold their own homes; however, they don't always necessarily come out ahead financially.

Just as it's not recommended to represent yourself in court, it's not a good idea to market and negotiate your biggest asset. Here are a few reasons why it's important to retain the services of a professional real estate agent:

1. No Upfront Costs - You don't have to worry about the various advertising costs which can quickly amount to a small fortune. Time is money too and often it makes more financial sense to spend time on other projects.
   
   
2. Exposure - Your pool of potential buyers will be very limited whereas an agent can expose your home to the masses! Selling privately can take a while which drives up carrying costs and the longer a home sits on the market, the less it's likely to sell for.
   
   
3. Motivation - The only reason to sell on your own is to try and save money. Buyers who go it alone know this and expect to share in your savings. Real estate agents are paid on commission so it's in their best interest to get you top dollar!
   
   
4. Third Party Negotiator - Buying or selling a home is an emotional roller coaster! Just one wrong remark can cause a deal to fall apart. A third party negotiator provides an important buffer between the buyer and the seller.
   
   
5. Experience - Real estate transactions can be fraught with potential problems. Agents can advise you on various legal matters as well as multiple offer and counter offer scenarios. An agent can also help stage your home in order to attract the best possible price.
   
   
6. Convenience - You'll have to show your home to strangers on short notice which can be frustrating and dangerous. Most prospects aren't that serious or are just plain nosy. Agents only work with qualified buyers so they don't waste time or compromise their personal safety.
7. Coordinating - It is also important to remember that if you are also buying that you would likely prefer a move in to your new home without having to have temporary accommodations or having to borrow additional funds for "bridge" financing. Agents not only sell your house but are experienced at making your move as stress free as possible.

Selling a home privately can be risky which means you're gambling with your biggest asset. It pays to have a professional on side to look out for your best interests throughout this complex financial and emotional transaction. Do-it-yourself jobs are great in certain situations but when it comes to selling a home, it's best to enlist the services of a professional.