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David's thoughts on anything real estate related


So you’ve bought the house, you’ve moved in, and the space is finally starting to feel like home. 


Even if you believe you’ve found your dream home - it’s almost impossible to completely avoid anxious thoughts like ‘Did I overpay?’ Or ‘Was this really the right time?’  This is true for all big decisions in life, not just with real estate.  


Once you’ve settled in, the responsibility of maintenance crop up. And I’m not going to sugar coat it, home ownership takes more work than you’d expect! Many weekends will become housework days, it just comes with the territory.


When you first move in, it’s always a good idea to familiarize yourself with all corners of your new place. Even if you’ve gone through an inspection, it’s never a bad idea to double for leaks, bugs, mold, or any issues that would be best dealt with immediately. Finding issues before they develop could save you considerable time and money down the road.

On that note, you will likely run into problems with your home. Whether it’s a few weeks or months after you move in, issues are bound to arise. What helps is having a reaction proportional to the problem.  What initially seems catastrophic, may just be something as simple as a jammed deadbolt. It’s normal to have worries with your new home, so keep calm and tackle the problem.


In regards to home maintenance, I want to emphasize gutters. Regardless of the season, clogged gutters are never something you want to have.  Make sure to stay on top of your gutters - freeing them from leaves and other debris so you don’t fall victim to leaks or flooding. 


Did you know that there is a very important drain located outside your home? This is known as your perimeter drain or weeping tile system. If this system isn’t operating properly, you are going to end up with a wet basement or crawl space so make sure it is functioning properly.


It’s also important to note that leaky windows are one of the largest sources of energy loss in a new home.  One quick and cost effective fix for this is to caulk your windows. Caulk can be easily purchased at home stores like home depot. 


And finally, your new home will likely take some getting used to. Enjoy the transition!

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Where are we seeing lots of strength in the market?

Currently, we can see strength in the condo and townhouse market from $500,000 up to $1,500,000. Overall, the westside condo market is favouring sellers with 30% of them sold last month, and communities with the most activity continue to be Kitsilano, Fairview, and False Creek. Following a steady decline over the summer, the average sale price began to rise in August, and continues to increase. It is currently sitting at $915,000, $58,000 higher than it was in July, and $89,000 more than it was in September of 2020. As inventory grows and sales drop, we can expect this price to fall over the fall season.


condo

Now let's look at the single family market.  The strength in the market lies between $1,750,000 and $3,500,000, with the majority of homes selling above list price. If both inventory and sales remain flat, we can predict the average sale price to remain fairly steady over the next few months. The strongest location is still Kitsilano with 28% of homes sold. I have a special report on the Kitsilano single family market if you want to check out the market update page of my website.



Single Family


If you would like to take a look at the market conditions for your area in detail, you can download the latest Snapstats report here This is a great way to learn where the market is heading. You will find a great 13 month graph here for each area showing:


- how prices are changing over time,

- how supply is changing over time,

- and how the number of sales are changing each month.


If you are interested in gaining access to all the sold and available homes in the lower mainland, feel free to use my website to search for your next home.

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We’ve all heard of spring cleaning.  But what about getting your home ready for the cold months? These chores may not be as exciting as making your space beautiful for the long days of summer, but they’re very important when preparing for wind, rain, and snow that's surely on the way. 


We live in a moderate climate, which means we don’t usually see temperatures dip into the negatives.  But, that doesn’t mean it never happens. If last winter taught us anything it’s that Vancouverites are (to put it bluntly) pretty pathetic Canadians when it comes to the cold (cue all the transit busses piled up along Broadway).  Most buildings in our city aren’t equipped to deal with below zero temperatures, as we saw during last year’s cold spell. Don’t let your home fall victim to bursting pipes! Insulate your pipes and shut off your water when leaving for a trip. Same goes for your outdoor appliances.  Ensure your hoses are turned off and free from water and bugs. 


Another suggestion is to free your lawn of leaves. This isn’t just for aesthetics as leaves can cause a lot of harm such as clogging pipes and flooding streets. Rake the leaves in your yard and set them out for collection in the same way you do your organics . 


And speaking of gutters, it’s a great idea to check your gutters and drainage. With the arrival of fall in Vancouver comes lots of rain, so make sure you’re prepared! This mundane task could save you a lot of money in the long run.


And with that, I wish you all a happy fall tune-up! 


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