Aug. 2, 2018
The real estate market is an ever changing construct with many variables. Today, more than ever, the ups and downs are driven by readily available information, which might just too often be wrongly interpreted.
The IMPACT Real Estate Group strives to make this construct more easily readable and provides market insides for interested parties. Let's take a look at last month:
The Fraser Valley Real Estate Board processed 1,290 sales on its Multiple Listing Service® (MLS®) in July, a decrease of 33.4 per cent compared to the 1,937 sales in July of last year, and a 11.2 per cent decrease compared to the 1,452 sales in June 2018.
Active inventory for the Fraser Valley in July finished at 7,399 listings, increasing 3.6 per cent month-over-month and 23.9 per cent year-over-year.
2,921 new listings were received by the Board in July, a 7 per cent decrease from June 2018’s 3,140 new listings, and a 11.5 per cent decrease compared to July 2017’s intake.
We are currently experiencing a so called balanced market, in which supply and demand are fairly stable. This is an excellent opportunity for buyers, who were hoping to buy after the craziness is over. This time is now. Sellers still get good value for their homes, if the homes are good properties is great areas.
For the Fraser Valley region, the average number of days to sell an apartment in July was 21, and 24 for town-homes. Single family detached homes remained on the market for an average of 31 days before selling.
All of the above is good news for people, who see housing as a means of putting a roof over the heads of their family. The time for speculators and crazy investors is more or less over, for now.
If you want to buy or sell a home in Langley, Abbotsford, Chilliwack, Mission or Maple Ridge, let us help you in this new market environment to make your dreams come true.
How to Decide If You Should Replace Your Windows
One of the most prominent features of any home is the windows. If they are well maintained, they will have a positive impact on the impression potential buyers have of your property. Of course, the opposite occurs when your windows look old and worn.
So, does that mean you should replace your windows?
That depends on a number of factors. Window replacement can be an expensive renovation. Here are a few things to consider before making your decision.
• Do you see water infiltration or mildew on the interior sides of any of the window sills? This means that moisture is creeping in from the outside, and you need to get those windows repaired or replaced as soon as possible.
• If your windows are double-paned - (two panes of glass) - check for any signs of moisture in between the glass panes. Moisture indicates that the thermal seal is broken and, at a minimum, the glass will need to be replaced.
• Take a look at your windows from the outside. Is the trim rotted or cracked anywhere? Are there dark spots or any signs of rotting on the wood frames? Repairs or replacement may be required.
• Check the operation of your windows. Do they open and close easily? Some windows, such as those in bedrooms, are often designed to be big enough to use as an exit in case of a fire. It’s important to make sure those work properly.
• Finally, are you happy with how your windows look? Do you feel that your property will look significantly better with new windows?
Although they are expensive, replacing windows can have a lot of advantages. Depending on the efficiency of your current windows, replacing them could cut your energy costs by 10-20%. In addition, new windows block out more exterior noise, making your home quieter.
Want more tips on increasing the value, and enjoyment, of your property? Call me today.
Eco-friendly Choices for Household Floors
Choosing new or replacement eco-friendly flooring is one of the emerging trends among house and condo owners. Eco-friendly flooring is generally identified as being made from and with more sustainable resources; materials that don’t deplete or permanently damage the environment (such as toxic laminates); or, material that is easy to reuse or recycle after its intended purpose. Here are some examples:
Renewable/Sustainable: Bamboo and cork are popular natural resources that renew relatively quickly. It should be noted that traditional woods are also renewable, as long as they are managed through sustainable practices. Before you buy natural flooring products, ask if the harvesting methods are verified through an accredited authority.
Repurposed/Reclaimed: Flooring made from old building structures (e.g. posts, beams, walls and planks) is a viable alternative option to grown and harvested resources. Likewise, recycled glass, plastic and rubber provide ample raw materials for creative flooring effects. Using them also reduces landfill. These products can be found through decorative flooring dealers.
Reusable/Recyclable: When purchasing any product, whether natural, synthetic and/or manufactured, it is important to know that the product can be easily recycled when it is beyond its usefulness, without causing environmental detriment in a landfill.
Notable, Quotable, Quotes!
“Things turn out best for the people who make the best of the way things turn out.” John Wooden
“Don’t be afraid to give up the good to go for the great.” John D. Rockefeller
“Be as smart as you can, but remember that it is always better to be wise than to be smart.” Alan Alda