Erica Rendell

LET'S GET MOVING

Relocating to a Different Town or City


Moving around the corner or even across town is relatively simple because you are likely familiar with the various neighbourhoods and you can access them anytime. If there's a listed home you want to view, you can simply go see it.


Relocating to a different town or city, however, is much more challenging. It may not be possible for you to make multiple visits to see homes for sale. You may also be unfamiliar with the various neighbourhoods.


So what do you do if you want to move out-of-town or need to relocate due to work?


Your first step is to get the information you need. You'll want up-to-date data on the neighbourhoods so you can pinpoint the ones that are the best fit for your needs and lifestyle. You'll also want to get a sense of the types of homes for sale in those neighbourhoods — style, size, features, listing price, etc.


Your next step is to schedule a day to view homes. This visit must be carefully planned so you only see those properties that are likely to be of interest. You don’t want to travel all that way only to end up seeing properties you wouldn't likely buy. What a waste of time!


So, if you’re relocating, you’ll need help. Give me a call. I can help make the relocation go smoothly for you.

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Home listings increase while buyers remain in holding pattern


VANCOUVER, BC – February 4, 2019 – Home listings continue to increase across all housing categories in the Metro Vancouver* housing market while home buyer activity remains below historical averages.


The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,103 in January 2019, a 39.3 per cent decrease from the 1,818 sales recorded in January 2018, and a 2.9 per cent increase from the 1,072 homes sold in December 2018. Last month’s sales were 36.3 per cent below the 10-year January sales average and were the lowest January-sales total since 2009.


“REALTORS® are seeing more traffic at open houses compared to recent months, however, buyers are choosing to remain in a holding pattern for the time being,” Phil Moore, REBGV president said.


There were 4,848 detached, attached and apartment homes newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in January 2019. This represents a 27.7 per cent increase compared to the 3,796 homes listed in January 2018 and a 244.6 per cent increase compared to the 1,407 homes listed in December 2018.


The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 10,808, a 55.6 per cent increase compared to January 2018 (6,947) and a 5.2 per cent increase compared to December 2018 (10,275). For all property types, the sales-to-active listings ratio for January 2019 is 10.2 per cent. By property type, the ratio is 6.8 per cent for detached homes, 11.9 per cent for townhomes, and 13.6 per cent for condominiums.


Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months. “Home prices have edged down across all home types in the region over the last seven months,” Moore said. The MLS® Home Price Index composite benchmark price for all residential homes in Metro Vancouver is currently $1,019,600.


This represents a 4.5 per cent decrease over January 2018, and a 7.2 per cent decrease over the past six months. “Economic fundamentals underpinning our market for home buyers and sellers remain strong. Today’s market conditions are largely the result of the mortgage stress test that the federal government imposed at the beginning of last year,” Moore said. “This measure, coupled with an increase in mortgage rates, took away as much as 25 per cent of purchasing power from many home buyers trying to enter the market.” Sales of detached homes in January 2019 reached 339, a 30.4 per cent decrease from the 487 detached sales recorded in January 2018. The benchmark price for detached homes is $1,453,400.


This represents a 9.1 per cent decrease from January 2018, and an 8.3 per cent decrease over the past six months. Sales of apartment homes reached 559 in January 2019, a 44.8 per cent decrease compared to the 1,012 sales in January 2018. The benchmark price of an apartment property is $658,600. This represents a 1.7 per cent decrease from January 2018, and a 6.6 per cent decrease over the past six months. Attached home sales in January 2019 totalled 205, a 35.7 per cent decrease compared to the 319 sales in January 2018. The benchmark price of an attached unit is $800,600.


This represents a 0.5 per cent decrease from January 2018, and a 6.2 per cent decrease over the past six months.

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9 Steps to Finding your Next Dream Home


If you're thinking ahead to your next dream home, the road you need to take to get there may seem confusing. Do you search for listings online? Drop by Open Houses on the weekends? Call the number on For Sale signs?


Let's break it all down! Here are the specific steps you need to take to ensure you find a home that fits your wants, needs and budget.


  1. Find out how much your current property will likely sell for on today’s market.
  2. Arrange for financing, so you know what you can afford.
  3. Select neighbourhoods you'd love to live in. (That may involve some fun exploring!)
  4. Decide on the type of home you want to buy. (For example: detached, three-bedroom, etc.)
  5. Prioritize the property features you want most, so you can be flexible if a feature is missing from a home listed on the market that is otherwise ideal.
  6. View properties on the market that closely fit your criteria, particularly new listings that may not yet be posted online. (Tip: Arrange to be immediately notified of new listings that are a good fit for you.)
  7. When you find a home you want, make an offer designed to get the property — without overpaying.
  8. Negotiate until you secure the deal. This may involve counter-offers.
  9. If the negotiation is skillfully done and all goes well, the home is yours.


As you can see, there isn't a lot of mystery in finding your next dream home. You just need to take the steps and get the professional help you need along the way.


Looking for a real estate agent that can get you to the finish line?

Call today!

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When a Home Inspector Finds an Issue


Imagine you've found the perfect home. You love it. You've made an offer that's been accepted. So far so good! The only catch? You've wisely made the offer conditional on passing a professional home inspection.


What happens if that home inspection reveals a major issue?


First, you should know that, depending on the age of the property, a home inspection will typically turn up at least a few areas of concern. The inspector might find loose insulation in the attic that is thinning out or roofing shingles that will need replacing in two or three years.


Issues like those are not usually deal-breakers.


However, if the home inspector finds a major issue — such as old wiring that's worn and presents a safety concern — then you're facing a potentially high cost of repair should the deal go through.


In a situation like that, as your real estate agent, I will address the issue with the seller, usually through the seller's agent. Since neither of you will want to lose the deal, the seller often agrees to get the repair done at his own expense or, have some or all of the estimated repair cost deducted from the sale price.


Will the deal be in jeopardy? Usually not. In most cases, if you have a real estate agent like me working in your best interests, it all works out.

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Taking the Stress Out of Selling your Home


For some people, the thought of listing their home for sale is stressful. They worry about all the things they have to do — and all the things that might go wrong.


Luckily, it doesn't have to be that way. Here are some tips for making your home sale go smoothly:


  • · Give yourself time to prepare. If you're thinking of selling six months from now, start preparing your property now. Do any necessary staging, and get it looking its best. Avoid doing these tasks at the last minute.
  • · Set the right price. Pricing your property too high will likely result in few, if any, buyers coming to see it. You might end up having to lower your price later, causing your home to linger even longer on the market. That's stress you don't need!
  • · Have a flexible viewing schedule. If you make it too difficult for buyers to see your property, they might lose interest or simply choose to buy another home. Be as flexible as possible when a buyer wants to view your property.
  • · Plan get-away activities. When a buyer comes for a scheduled viewing, don't be home. Instead, plan some fun activities for your family. Think: playground, shopping, cycling, the zoo, etc.
  • · Accept the ups and downs. Prospective buyers might say they love your home and plan to make an offer. Then you don't hear from them again! It happens! Accept the inevitable ups and downs of selling your home.  
  • · Get help with repairs. You'll probably have things that need to be fixed around the home, like a dripping faucet that needs repair or a room that needs painting. If possible, hire a professional to do some of that work.
  • · Finally, work with a great real estate agent. That will make the biggest difference in ensuring your move goes smoothly and stress-free.


Looking for a real estate agent like that? Call me!

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Metro Vancouver home sales in 2018 were the lowest annual total in the region since 2000.


The Real Estate Board of Greater Vancouver (REBGV) reports that sales of detached, attached and apartment properties reached 24,619 on the Multiple Listing Service® (MLS®) in 2018, a 31.6 per cent decrease from the 35,993 sales recorded in 2017, and a 38.4 per cent decrease compared to the 39,943 residential sales in 2016.


Last year’s sales total was 25 per cent below the region’s 10-year sales average.


“This past year has been a transition period for the Metro Vancouver housing market away from the sellers’ market conditions we experienced in previous years,” Phil Moore, REBGV president said. “High home prices, rising interest rates and new mortgage requirements and taxes all contributed to the market conditions we saw in 2018.”


Home listings in Metro Vancouver reached 53,614 in 2018. This is a 1.9 per cent decrease compared to 54,655 homes listed in 2017 and a 6.9 per cent decrease compared to the 57,596 homes listed in 2016.


“The supply of homes for sale will be an important indicator to follow in 2019. We’ve had record building activity in recent years and many projects will complete soon. This will provide additional housing options for home buyers across the region,” Moore said.


The MLS® HPI composite benchmark price for all residential homes in Metro Vancouver ends the year at $1,032,400. This is a 2.7 per cent decrease compared to December 2017.


“As the total supply of homes for sale began to accumulate in the spring, we began to see downward pressure on prices across all home types throughout the latter half of the year,” Moore said.


The benchmark price of detached homes in the region declined 7.8 per cent over the last 12 months and 7.3 per cent since June 2018. Apartment homes increased 0.6 per cent over the last 12 months and have declined 6.4 per cent since June 2018. The benchmark price for townhomes in Metro Vancouver have increased 1.3 per cent since December 2017 and have decreased 5.3 per cent over the last six months.

December summary

REBGV reports that residential home sales in the region totalled 1,072 in December 2018, a 46.8 per cent decrease from the 2,016 sales recorded in December 2017, and a 33.3 per cent decrease from November 2018 when 1,608 homes sold.


Last month’s sales were 43.3 per cent below the 10-year December sales average.


There were 1,407 detached, attached and apartment homes newly listed for sale on the MLS® in Metro Vancouver in December 2018. This represents a 25.6 per cent decrease compared to the 1,891 homes listed in December 2017 and a 59.3 per cent decrease compared to November 2018 when 3,461 homes were listed.


The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 10,275, a 47.7 per cent increase compared to December 2017 (6,958) and a 16.5 per cent decrease compared to November 2018 (12,307).


For all property types, the sales-to-active listings ratio for December 2018 is 10.4 per cent. By property type, the ratio is 7.1 per cent for detached homes, 12 per cent for townhomes, and 14.2 per cent for apartments.


Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.


Sales of detached homes in December 2018 reached 348, a 43.6 per cent decrease from the 617 detached sales recorded in December 2017. The benchmark price for a detached home is $1,479,000. This represents a 7.8 per cent decrease from December 2017 and a 1.4 per cent decrease compared to November 2018.


Sales of apartment homes reached 535 in December 2018, a 34 per cent decrease compared to the 1,028 sales in December 2017. The benchmark price of an apartment home is $664,100. This represents a 0.6 per cent increase from December 2017 and a 0.6 per cent decrease compared to November 2018.


Attached home sales in December 2018 totalled 189, a 49.1 per cent decrease compared to the 371 sales in December 2017. The benchmark price of an attached home is $809,700. This represents a 1.3 per cent increase from December 2017 and a 1.1 per cent decrease compared to November 2018.


Download the December 2018 stats package




          

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Condominium owners in Metro Vancouver are opening up 2019 property-assessment notices showing increases in value from a year ago. But much has changed in property markets since B.C. Assessment set those values on July 1.


Across most of Metro Vancouver, condo prices are down 6.4 per cent since July to a benchmark prices $664,100, according to figures released Thursday by the Real Estate Board of Greater Vancouver. The benchmark is based on the average price, adjusted to reflect “typical” condos among those sold.


That is in contrast to B.C. Assessments’ July 1 appraisals that showed average increases from July 2018 of anywhere from six per cent in the city of Vancouver to as much as 23 per cent in Whistler, while assessments on less affordable detached homes were down four per cent in Vancouver and North Vancouver and as much as 12 per cent in West Vancouver.

“Since then, the numbers suggest a broader decline in the market,” said Bryan Yu, deputy chief economist with Central 1 Credit, with sales and prices for condos trending lower along with detached homes.


“This year, when (municipal property) taxes roll around, you’re going to see condo owners take a little more of a hit in terms of their taxes, relative to single-family,” Yu said.

Yu said sales figures show that the condo market became “red hot” in 2016 as detached-home prices soared out of the reach of many buyers, pushing them into the strata-property market. That trend lasted through 2017 and into 2018.

Now, factors such as higher mortgage interest rates and stiffer mortgage-qualification rules have reduced the spending power of buyers and cooled demand at all levels of the market, Yu said.


“In terms of the overall Lower Mainland, our view, at least for benchmark prices, is that they’re already down six per cent (for condominiums),” Yu said. “We see another up to four or five per cent more decline in the broader market (in 2019).”


The Real Estate Board of Greater Vancouver said on Thursday that 24,619 sales were recorded through MLS for all of 2018, a near 32 per cent decline from 2017. Within that, condo sales represented 12,771 transactions, a 30 per cent reduction.


And since July, in Metro Vancouver submarkets, benchmark condo prices have declined as much as 14 per cent in Squamish (now $455,900), 10.3 per cent in Port Moody (now $627,300), 6.3 per cent on Vancouver’s east side (now $538,000) and seven per cent on Vancouver’s west side (now $783,700), according to real-estate-board figures.


For the B.C. Assessment Authority’s assessors, such changing markets don’t create a big challenge, said regional assessor Tina Ireland, because their task is to provide a snapshot of property values on July 1.

“The reason why we do that is so the same market conditions apply to everyone’s assessment,” Ireland said, “to determine a property owners’ share of property taxes in their community.”


However, Ireland said it can be “a bit more of a challenge” explaining assessments to property owners who might be opening their assessment notices and saying “my property is no longer worth that.”

B.C. Assessment took about 1,000 calls from the public on Wednesday, the authority’s first business day since assessments were made public Dec. 31, which is a 60 per cent increase from 2017, Ireland said, but it is difficult to know how big a factor the declining market values is in those inquiries.


For those homeowners who have questions, Ireland suggested consulting the authority’s website for more information about their assessments. It also has tools to compare assessments.


If homeowners have more questions, Ireland said they can call B.C. Assessment for an explanation, and if they are still not satisfied, have the right to appeal their assessments.


The deadline to file an appeal is Jan. 31.

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 Imagine this scenario...

 

You're shopping for a new home. You drive to visit a recent listing. As you walk through the front doors, you're impressed. Every room looks fantastic. You see yourself relaxing on the spacious patio, cooking in the modern kitchen, and enjoying evenings with the family in the cozy living room.

 

Your emotions are on overdrive. This is your dream home!

 

Should you make an offer? Probably. In fact, you should make that decision quickly in case there are other interested buyers.

 

However, your decision shouldn't be guided purely by emotion. You want to make sure you take practical matters into consideration too.

 

For example, you'll want to consider:


·    Is the property within your price range?

·    Does it have everything you need?

·    Do you like the neighbourhood?

·    How old is the property? Are there items, such as the furnace, that may need to be replaced soon?

·    Will it need any major repairs or upgrades?

·    What are the average monthly costs of carrying the home? (Property taxes, utilities, etc.)


Once you've considered the purchase of the home from a practical standpoint, you'll have a lot more confidence in your decision when you make an offer.

 

Need help? Call me.

 

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VANCOUVER, BC – November 2, 2018 –Home sale activity across Metro Vancouver* remained below long-term historical averages in October.


The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,966 in October 2018, a 34.9 per cent decrease from the 3,022 sales recorded in October 2017, and a 23.3 per cent increase compared to September 2018 when 1,595 homes sold.


Last month’s sales were 26.8 per cent below the 10-year October sales average.


“The supply of homes for sale today is beginning to return to levels that we haven’t seen in our market in about four years,” Phil Moore, REBGV president said. “For home buyers, this means you have more selection to choose from. For sellers, it means your home may face more competition, from other listings, in the marketplace.”


There were 4,873 detached, attached and apartment homes newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in October 2018. This represents a 7.4 per cent increase compared to the 4,539 homes listed in October 2017 and a 7.7 per cent decrease compared to September 2018 when 5,279 homes were listed.


The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 12,984, a 42.1 per cent increase compared to October 2017 (9,137) and a 0.8 per cent decrease compared to September 2018 (13,084).


For all property types, the sales-to-active listings ratio for October 2018 is 15.1 per cent. By property type, the ratio is 10.3 per cent for detached homes, 17.3 per cent for townhomes, and 20.6 per cent for condominiums.


Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months


“Home prices have edged down between three and five per cent, depending on housing type, in our region since June,” said Moore. “This is providing a little relief for those looking to buy compared to the all-time highs we’ve experienced over the last year.”


The MLS® Home Price Index composite benchmark price for all residential homes in Metro Vancouver is currently $1,062,100. This represents a one per cent increase over October 2017 and a 3.3 per cent decrease over the last three months.


Sales of detached homes in October 2018 reached 637, a 32.2 per cent decrease from the 940 detached sales recorded in October 2017. The benchmark price for detached properties is $1,524,000. This represents a 5.1 per cent decrease from October 2017 and a 3.9 per cent decrease over the last three months.


Attached homes sales in October 2018 totalled 344, a 37.5 per cent decrease compared to the 550 sales in October 2017. The benchmark price of an attached home is $829,200. This represents a 4.4 per cent increase from October 2017 and a 2.8 per cent decrease over the last three months.

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When you're having a garage sale, one of the toughest tasks is pricing your items. If you put a price tag on your old golf clubs that’s too high, no one will buy them. If you make the price too low, they might sell quickly, but you’ll spend the rest of the day wondering if you could have gotten more!

 

It's similar to selling your home — except with your home, the stakes are much higher. You want to price your property to sell, but you don’t want to leave any money on the table.

 

How do you accomplish that?

 

Setting the right list price for your home requires a combination of skilled calculation and industry savvy.

 

Let's start with the "calculation" part...

 

When you work with me, I'll review recently sold properties that are similar to yours in type, size, features and location. Then, using that data, we’ll calculate a range that represents your property's "current market value."

 

For example, consider a spacious 15-year-old towhome  in a nice neighbourhood. If similar homes in the area have sold for $800,000  - $900,000 in the last six months, then it's obvious that your home should sell in that range too. A list price above or below that range would be in the danger zone.

 

But skilled calculation is only half the task.

 

Setting your list price also requires expertise in the local market, combined with good old-fashioned gut instinct. That instinct comes from being on the front lines of many property transactions.

 

That's why working with a good real estate salesperson is so important, when you’re deciding on the list price for your home.

 

Want to discuss selling your home? Call me.

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More supply and less demand seen across Metro Vancouver housing market

The supply of homes for sale continued to increase across the Metro Vancouver* housing market in September while home buyer demand remained below typical levels for this time of year.


The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 1,595 in September 2018, a 43.5 per cent decrease from the 2,821 sales recorded in September 2017, and a 17.3 per cent decrease compared to August 2018 when 1,929 homes sold.


Last month’s sales were 36.1 per cent below the 10-year September sales average.


“Fewer home sales are allowing listings to accumulate and prices to ease across the Metro Vancouver housing market,” Ashley Smith, REBGV president-elect said. “There’s more selection for home buyers to choose from today. Since spring, home listing totals have risen to levels we haven’t seen in our market in four years.”


There were 5,279 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in September 2018. This represents a 1.8 per cent decrease compared to the 5,375 homes listed in September 2017 and a 36 per cent increase compared to August 2018 when 3,881 homes were listed.


The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 13,084, a 38.2 per cent increase compared to September 2017 (9,466) and a 10.7 per cent increase compared to August 2018 (11,824).


For all property types, the sales-to-active listings ratio for September 2018 is 12.2 per cent. By property type, the ratio is 7.8 per cent for detached homes, 14 per cent for townhomes, and 17.6 per cent for condominiums.

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.


“Metro Vancouver’s housing market has changed pace compared to the last few years. Our townhome and apartment markets are sitting in balanced market territory and our detached home market remains in a clear buyers’ market,” Smith said. “It’s important for both home buyers and sellers to work with their Realtor to understand what these trends means to them.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,070,600. This represents a 2.2 per cent increase over September 2017 and a 3.1 per cent decrease over the last three months.


Sales of detached properties in September 2018 reached 508, a 40.4 per cent decrease from the 852 detached sales recorded in September 2017. The benchmark price for detached properties is $1,540,900. This represents a 4.5 per cent decrease from September 2017 and a 3.4 per cent decrease over the last three months.

Sales of apartment properties reached 812 in September 2018, a 44 per cent decrease compared to the 1,451 sales in September 2017. The benchmark price of an apartment property is $687,300. This represents a 7.4 per cent increase from September 2017 and a 3.1 per cent decrease over the last three months.


Attached property sales in September 2018 totalled 275, a 46.9 per cent decrease compared to the 518 sales in September 2017. The benchmark price of an attached unit is $837,600. This represents a 6.4 per cent increase from September 2017 and a two per cent decrease over the last three months.

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Here’s a handy checklist you can use to quickly prep your home for a viewing. Take a look: 

 


Imagine you were selling your car, and a prospective buyer was on the way over to see it. What would you do? You would probably make your vehicle look as clean and shiny as possible, inside and out.




The same holds true if you’re selling your home and there’s a potential buyer on the way. You want the buyer to be wow’d by your property. Here’s a handy checklist to follow:




  • Clean every room. Make your entire house look as “guest ready” as possible.
  • As much as is feasible given the time, reduce clutter. Consider packing some items into boxes and storing them in the basement or garage.
  • Get pets out of the house. You can take them for a walk, have a neighbour watch them, or take them to a good kennel.
  • Turn on the lights, even during the day. You want each room to look bright.
  • If there are any maintenance issues, such as a dripping faucet, let your Realtor know. Often, it’s best for buyers to be told rather than discover such issues themselves.

  • Open the curtains, except in those rooms where the sun will be uncomfortably strong during the viewing.
  • Move your vehicles from the driveway so the buyer can park there. (That can help them imagine living there, which is what you want!)
  • Make sure your foyer is especially clean and uncluttered. It’s the first “room” the buyer visits.
  • Avoid cooking just before a viewing. Even if the meal is wonderful, the aroma may linger. (Some people don’t like the smell of certain dishes, such as fish.)
  • Freshen up the outdoor space. Sweep the walkway.




This viewing checklist will help you prepare your home quickly, so when the buyer comes in your front door, there’s a much better chance he or she will be impressed. 



Erica Rendell 


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There are many good reasons to put your property on the market.


Some examples include a relocation, the kids leaving the nest, the need for something bigger or smaller, and the list goes on and on.


However, there are also some less-than-obvious indicators that it may be time to sell.


Consider the following:


1. Your Property is no longer a Good "Fit" Your home may have been perfect for you when you bought it. But things change. Families grow. Needs evolve. For any number of reasons, your property may no longer be a good fit for you. If that's the case, it makes sense to at least take a look at what's available on the market. Who knows? Your next "perfect" home may be for sale right now — within your price range!


2. The Neighbourhood is Changing You may have been in love with the neighbourhood when you first moved in. But, over time, the characteristics of any area can change. Those changes don’t necessarily mean the neighbourhood is getting worse. In fact, it may be changing in a positive way; perhaps becoming more urban. But, "more urban" may not be what you want. So take a look at the direction your neighbourhood is heading. Ask yourself, "Do I still want to be living here in two years?"


3. You're Ready for Your Dream Home Remember when you purchased your current property? Did it have every feature you wanted? Was it your dream home? Or, did you have to compromise on a few things, such as the size of the kitchen? If you had to make some tough choices back then, it might be time for you to finally get the home of your dreams.


Those are just three indicators it may be time for you to make a move. Of course, there are many others. If you've been entertaining the idea of selling your property and finding your next dream home, give me a call. I can show you what's available on the market, and keep you informed of new listings that match what you're looking for.


Contact me anytime.

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FIND WHAT YOU LOVE with Erica Rendell Let's Get Moving.

604 38 Leopold $542,000 


Welcome to Eagle Crest, a beautifully designed concrete high-rise with only 4 suites per floor, surrounded by floor to ceiling windows NW exposure providing natural sunlight.


This 6th floor corner suite is spacious w 2 beds, 2 full baths, 2 balconies & HUGE PARKING stall (PLENTY BIG enough for 2 VEHICLES plus a bike)! Enjoy the rich wood floors & cozy gas fireplace in the entertainment size living & dining room. Kitch w large eating area and newer blinds throughout w blackout dual shades. Mstr with balcony access & en-suite. A stone's throw to historic Queens Park and close to all shopping and amenities. 5 min drive to Columbia Skytrain. Location is perfect for the commuters. Bonus: Maintenance fees INCLUDE gas and cable! 


www.ericarendell.com

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FIND WHAT YOU LOVE with Erica Rendell : Just Sold :

1202 501 Pacific st.  $679,900


Extremely well laid out, bright and contemporary one-bedroom plus den Yaletown city home of 592 SQFT faces southeast with sweeping city, water and park vistas.


Open concept living offers expansive windows, gas fireplace, media feature wall plus a large, covered patio. The den is an ideal office or walk in closet. Open kitchen highlights gas range stove, an abundance of cabinetry, breakfast bar & more. Value in suite laundry, extensive built-ins, a storage locker plus one secured parking. The 501 has incredible views to False Creek, English Bay & the City. Amenities include an indoor/outdoor pool, whirlpool, steam, sauna, fitness center, games room, TV lounge, volleyball court & two guest suites. Both pets and rentals are permitted making this purchase an excellent investment.

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Home seller supply grows as demand declines


With home sale activity dipping below long-term historical averages, the supply of homes for sale in Metro Vancouver reached a three-year high in June.


The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,425 in June 2018, a 37.7 per cent decline from the 3,893 sales recorded in June 2017, and a 14.4 per cent decrease compared to May 2018 when 2,833 homes sold.


Last month’s sales were 28.7 per cent below the 10-year June sales average.


“Buyers are less active today. This is allowing the supply of homes for sale to accumulate to levels we haven’t seen in the last few years,” Phil Moore, REBGV president said.


“Rising interest rates, high prices and more restrictive mortgage requirements are among the factors dampening home buyer activity today.”


There were 5,279 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in June 2018. This represents a 7.7 per cent decrease compared to the 5,721 homes listed in June 2017 and a 17.2 per cent decrease compared to May 2018 when 6,375 homes were listed.


The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 11,947, a 40.3 per cent increase compared to June 2017 (8,515) and a 5.8 per cent increase compared to May 2018 (11,292). This is the highest this total has been since June 2015.


“With reduced demand, detached homes are entering a buyers’ market and price growth in our townhome and apartment markets is showing signs of decelerating.”


For all property types, the sales-to-active listings ratio for June 2018 is 20.3 per cent. By property type, the ratio is 11.7 per cent for detached homes, 24.9 per cent for townhomes, and 33.4 per cent for condominiums.


Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.



The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,093,600. This represents a 9.5 per cent increase over June 2017 and is virtually unchanged from May 2018.


Sales of detached homes in June 2018 reached 766, a 42 per cent decrease from the 1,320 detached sales recorded in June 2017. The benchmark price for a detached home is $1,598,200. This represents a 0.7 per cent increase from June 2017 and a 0.6 per cent decrease compared to May 2018.


Sales of apartment homes reached 1,240 in June 2018, a 34.9 per cent decrease compared to the 1,905 sales in June 2017. The benchmark price for an apartment is $704,200. This represents a 17.2 per cent increase from June 2017 and a 0.4 per cent increase compared to May 2018.


Attached home sales in June 2018 totalled 419, a 37.3 per cent decrease compared to the 668 sales in June 2017. The benchmark price of an attached home is $859,800. This represents a 15.3 per cent increase from June 2017 and is virtually unchanged from May 2018.

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Erica Rendell
Cell: 604-724-0725
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.