Blog

The History of Open Houses


The evolution of open houses is something interesting to watch.

Before 1965, realtors would have exclusive listings. We were delegated with the responsibility to sell that listing. There was no co-operative system in place for realtors to work together. This meant that listing realtors were responsible for finding buyers. In today's market, we have buyer-agents that help listing realtors sell properties and one of the reasons we have open houses is to make it easy for those buyer's agents to get their buyers through the door.

We’ll have an hour or two hours on the weekend or a sneak peak during the week. It’s also a good way to interact with potential buyers. Perhaps they’re unrepresented and looking for a realtor. Some buyers will go through open houses and that is how they interview realtors as well; to see if they connect with someone that can streamline the process for them.

In today's market, there are many changes being made. As realtors, out job is to protect the public. That’s our mandate and how we’re doing that is by disclosing absolutely everything. When a buyer comes into an open house, we run through quite a bit of information on the do’s and don’ts of exchanging information. Its getting a bit convoluted in todays market, but that’s our job to work that through with our buyers.

It’s going to be interesting to see open houses taper off as it's going to be more difficult for buyers in this setting.

To learn more, check out my video here:

If you would like more information on any of these topics; on open houses, as well as where we’re headed for the future with virtual realities, please give me a call at 604-619-0199
or shoot me an email. 



Recently Sold Listing 4109 Vine Street, Vancouver, BC


R2278625 - 4109 Vine Street, Vancouver, BC, CANADAI have just recently sold this listing at 4109 Vine Street, Vancouver.

Recently Sold Listing 206 - 1445 Marpole Avenue, Vancouver, BC


R2282720 - 206 - 1445 Marpole Avenue, Vancouver, BC, CANADAI have just recently sold this listing at 206 - 1445 Marpole Avenue, Vancouver.

New Listing 602 - 1219 Harwood Street, Vancouver, BC


R2296670 - 602 - 1219 Harwood Street, Vancouver, BC, CANADAView my new listing for sale at 602 - 1219 Harwood Street, Vancouver and currently listed at $339,900.

Great investment unit! RENTALS ALLOWED. 2 short blocks to Sunset Beach, English Bay, Davie Village. 1 bed, 1 bath. "The Chelsea" has been updated with permits - newer plumbing, parking, refitted elevator and a newer roof. Shared rooftop deck boasts gorgeous 360 degree views. Maintenance includes property taxes and hot water. Rentals allowed. Sorry, no pets. Parking + storage for rent through building manager upon availability. First showings at OPENS Friday Aug 17th 4 - 4:45 pm and Saturday August 18th 2- 4 pm

Vancouver Real Estate Statistics July 2018


Each month Jamie gives us a video breakdown of what's happening in the Vancouver Real Estate Market, including Downtown, Vancouver Westside, Eastside, Richmond and Ladner.

This month we're seeing a more balanced market for Vancouver detached housing. The condos and townhouses are also nearing a more balanced market, as we've seen a bit of decline in activity. Who knows if that’s typical summer lulls and we’ll have a big strong fall market again come September, or if that’s a sign of things to come for the next twelve months with all the government intervention and changing of rules. Watch the video below to learn more.

Vancouver Real Estate Statistics

Vancouver Downtown

  • Market Type Indicator DOWNTOWN ATTACHED: Sellers Market at 21% Sales Ratio average (2.1 in 10 Homes selling rate)
  • Homes are selling on average 100% of list price
  • Most Active Price Band** $600,000 to $700,000 with average 58% Sales Ratio (Sellers market)
  • Buyers Best Bet** Homes between $1.75 mil to $2 mil, Coal Harbour, Yaletown and 3 bedroom properties
  • Sellers Best Bet** Selling Homes in Westend and up to 1 bedroom properties

**With minimum  inventory of 10 in Most instances

Vancouver Westside

  • Market Type Indicator VANCOUVER WESTSIDE DETACHED: Buyers Market at 7% Sales Ratio average (7 in 100 Homes selling rate)
  • Homes are selling on average 5% below list price
  • Most Active Price Band** $2 mil to $2.5 mil with average 24% Sales Ratio (Sellers market)
  • Buyers Best Bet** Homes $5 mil plus, M arpole, South Granville and minimum 7 bedroom properties
  • Sellers Best Bet** Selling Homes in Southlands, University and up to 4 bedroom properties

**With minimum  inventory of 10 in Most instances

  • Market Type Indicator VANCOUVER WESTSIDE ATTACHED: Sellers Market at 28% Sales Ratio average (2.8 in 10 Homes selling rate)
  • Homes are selling on average 2% below list price
  • Most Active Price Band** $700,000 to $800,000 with average 61% Sales Ratio (Sellers market)
  • Buyers Best Bet** Homes between $2.25 mil to $2.5, Dunbar, Quilchena and minimum 4 bedroom properties
  • Sellers Best Bet** Selling Homes in South Cambie and up to 1 bedroom properties

**With minimum  inventory of 10 in Most instances

Vancouver Eastside

  • Market Type Indicator VANCOUVER EASTSIDE DETACHED: Buyers Market at 9% Sales Ratio average (9 in 100 Homes selling rate)
  • Homes are selling on average 4% below list price
  • Most Active Price Band** $1 mil to $1.25 mil with average 28% Sales Ratio (Sellers market)
  • Buyers Best Bet** Homes between $2.25 mil to $3 mil, Collingwood, Grandview, Victoria and minimum 7 bedroom properties
  • Sellers Best Bet** Selling Homes in Mount Pleasant, Renfrew Heights and up to 4 bedroom properties
  • **With minimum  inventory of 10 in Most instances
  • Market Type Indicator VANCOUVER EASTSIDE ATTACHED: Sellers Market at 33% Sales Ratio average (3.3 in 10 Homes selling rate)
  • Homes are selling on average 1% below list price
  • Most Active Price Band** $400,000 to $500,000 with average 53% Sales Ratio (Sellers market)
  • Buyers Best Bet** Homes between $1.25 mil to $1.5 mil, Killarney, Victoria and minimum 4 bedroom properties
  • Sellers Best Bet** Selling Homes in Grandview, M ount Pleasant, South Vancouver and up to 1 bedroom properties

**With minimum  inventory of 10 in Most instances

Richmond

  • Market Type Indicator RICHMOND DETACHED: Buyers Market at 10% Sales Ratio average (1 in 10 Homes selling rate)
  • Homes are selling on average 9% below list price
  • Most Active Price Band** $1 mil to $1.25 mil with average 61% Sales Ratio (Sellers market)
  • Buyers Best Bet** Homes between $2.75 mil to $3 mil, Garden City, Granville, Quilchena and up to 2 bedroom properties
  • Sellers Best Bet** Selling Homes in Boyd Park and 3 to 4 bedroom properties

**With minimum  inventory of 10 in Most instances

  • Market Type Indicator RICHMOND ATTACHED: Sellers Market at 24% Sales Ratio average (2.4 in 10 Homes selling rate)
  • Homes are selling on average 100% of list price
  • Most Active Price Band** $0 to $300,000 with average 75% Sales Ratio (Sellers market)
  • Buyers Best Bet** Homes between $900,000 to $1 mil, Steveston Village and minimum 4 bedroom properties
  • Sellers Best Bet** Selling Homes in Ironwood and up to 1 bedroom properties

**With minimum  inventory of 10 in Most instances

Ladner

  • Market Type Indicator LADNER DETACHED: Balanced Market at 17% Sales Ratio average (1.7 in 10 Homes selling rate)
  • Homes are selling on average 4% below list price
  • Most Active Price Band** $900,000 to $1 mil with average 27% Sales Ratio (Sellers market)
  • Buyers Best Bet** Homes between $1.25 mil to $1.5 mil, Neilsen Grove, Port Guichon and up to 2 bedroom properties
  • Sellers Best Bet** Selling Homes in Holly and 5 to 6 bedroom properties

**With minimum  inventory of 10 in Most instances

  • Market Type Indicator LADNER ATTACHED: Sellers Market at 30% Sales Ratio average (3 in 10 Homes selling rate)
  • Homes are selling on average 1% below list price
  • Most Active Price Band** $500,000 to $600,000 with average 25% Sales Ratio (Sellers market)
  • Buyers Best Bet** Insufficient data but Homes with 3 bedroom s
  • Sellers Best Bet** Selling Homes in Neilsen Grove and 2 bedroom properties

**With minimum  inventory of 10 in Most instances

 

Buying or Selling a home in the Greater Vancouver Area contact Jamie Stewart and her team at jamiestewart.ca



New Listing 305 - 1128 Quebec Street, Vancouver, BC


R2292485 - 305 - 1128 Quebec Street, Vancouver, BC, CANADAView my new listing for sale at 305 - 1128 Quebec Street, Vancouver and currently listed at $1,349,500.

Absolutely beautifully renovated 1447 sq ft 3 bdrm unit, 2 baths with WATER VIEWS of False Creek, City and Park, in sought after Olympic Village - encompassing Science World, Yaletown and the South Shore. The kitchen features polished stone countertops and under-mounted sinks with high end faucets giving it that luxurious feel. Master bedroom with complete privacy has generous walk-in closet, beautifully appointed ensuite bathroom and gorgeous French-doors. Additional storage and two parking. Bosa's highly sought after National at City Gate is a well maintained building w/ a healthy contingency fund & proactive council featuring resort style amenities including an indoor pool, whirlpool & gym.

How to Price Your Home Correctly


The single most important thing when marketing your home is pricing it correctly. There are actually even dangers to pricing it incorrectly.

You can have the right realtor, the right staging, marketing plan. The best house in the neighbourhood, but if you price it too high, no one is going to come look at it!

For example, if your house is worth 1.3M and you put your house at 1.5M, the people that are going to come your home; they will have seen everything else on the market worth 1.5 million, so by the time they get to your home, your home might not measure up since it's only worth 1.3M. And on the other end, the people that can afford the 1.3M aren't going to come into the home, thinking they can’t afford it.

So the single most important thing you have to do, is price your home correctly.

Look at the market. Look at comparable sales, what sold recently for the same price and market it correctly according to those sales comparables.

If you want more information or would like to discuss this information further, in person or on the telephone, please give me a call at 604-619-0199.

Watch the video below and check out my YouTube page for more great tips on how to sell your home.



June 2018 | Vancouver Real Estate Stats Summary


Each month Jamie gives us a video breakdown of what's happening in the Vancouver Real Estate Market, including Downtown, Vancouver Westside, Eastside, Richmond and Ladner.

 

Vancouver Real Estate Statistics

Vancouver Downtown

  • Market Type Indicator VANCOUVER DOWNTOWN ATTACHED: Sellers Market at 23% Sales Ratio average (2.3 in 10 Homes selling rate)
  • Homes are selling on average 1% below list price
  • Most Active Price Band** $500,000 to $600,000 with average 52% Sales Ratio (Sellers Market)
  • Buyers Best Bet** Homes $5 mil plus, Coal Harbour, Yaletown and 3 bedroom properties
  • Sellers Best Bet** Selling Homes in Downtown, Westend and up to 1 bedroom properties

**W ith minimum inventory of 10 in Most instances

Vancouver Westside

  • Market Type Indicator VANCOUVER WESTSIDE DETACHED: Buyers Market at 10% Sales Ratio average (1 in 10 Homes selling rate)
  • Homes are selling on average 100% of list price
  • Most Active Price Band** $2 mil to $2.25 mil with average 47% Sales Ratio (Sellers Market)
  • Buyers Best Bet** Homes $3.5 mil plus, Shaughnessy and minimum 7 bedroom properties
  • Sellers Best Bet** Selling Homes in Cambie, Kitsilano and 3 to 4 bedroom properties

**W ith minimum inventory of 10 in Most instances

  • Market Type Indicator VANCOUVER WESTSIDE ATTACHED: Sellers Market at 32% Sales Ratio average (3.2 in 10 Homes selling rate)
  • Homes are selling on average 1% above list price
  • Most Active Price Band** $400,000 to $500,000 with average >100% Sales Ratio (Sellers Market)
  • Buyers Best Bet** Homes between $1.75 mil to $2 mil, South Granville and minimum 3 bedroom properties
  • Sellers Best Bet** Selling Homes in Dunbar, Fairview, M ount Pleasant and up to 1 bedroom properties

** With a minimum inventory of 10 in Most instances

Vancouver Eastside

  • Market Type Indicator VANCOUVER EASTSIDE DETACHED: Balanced Market at 12% Sales Ratio average (1.2 in 10 Homes selling rate)
  • Homes are selling on average 3% below list price
  • Most Active Price Band** $1 mil to $1.25 mil with average 78% Sales Ratio (Sellers Market)
  • Buyers Best Bet** Homes between $2.5 mil to $3 mil, South Vancouver and minimum 5 bedroom properties
  • Sellers Best Bet** Selling Homes in Fraser, Main and up to 4 bedroom properties

** With a minimum inventory of 10 in Most instances

  • Market Type Indicator VANCOUVER EASTSIDE ATTACHED: Sellers Market at 41% Sales Ratio average (4.1 in 10 Homes selling rate)
  • Homes are selling on average 3% above list price
  • Most Active Price Band** $300,000 to $400,000 with average 75% Sales Ratio (Sellers Market)
  • Buyers Best Bet** Homes between $1.25 mil to $1.5 mil, Downtown, Killarney, Main and 3 bedroom properties
  • Sellers Best Bet** Selling Homes in Fraser, South Vancouver and up to 1 bedroom properties

** With a minimum inventory of 10 in Most instances

Richmond

  • Market Type Indicator RICHMOND DETACHED: Buyers Market at 10% Sales Ratio average (1 in 10 Homes selling rate)
  • Homes are selling on average 5% below list price
  • Most Active Price Band** $1 mil to $1.25 mil with average 38% Sales Ratio (Sellers Market)
  • Buyers Best Bet** Homes between $3 mil to $3.5 mil, Bridgeport, Granville, Quilchena and 3 to 6 bedroom properties
  • Sellers Best Bet** Selling Homes in Terra Nova, West Cambie and up to 2 bedroom properties

** With a minimum inventory of 10 in Most instances

  • Market Type Indicator RICHMOND ATTACHED: Sellers Market at 28% Sales Ratio average (2.8 in 10 Homes selling rate)
  • Homes are selling on average 2% below list price
  • Most Active Price Band** $300,000 to $400,000 with average 75% Sales Ratio (Sellers Market)
  • Buyers Best Bet** Homes between $900,000 mil to $1 mil, Bridgeport and 3 bedroom properties
  • Sellers Best Bet** Selling Homes in Boyd Park, East Cambie and up to 1 bedroom properties

** With a minimum inventory of 10 in Most instances

Ladner

  • Market Type Indicator LADNER DETACHED: Balanced Market at 12% Sales Ratio average (1.2 in 10 Homes selling rate)
  • Homes are selling on average 4% below list price
  • Most Active Price Band** $900,000 to $1 mil with average 17% Sales Ratio Balanced Market)
  • Buyers Best Bet** Homes between $1.25 mil to $1.5 mil, Hawthorne and 3 to 6 bedroom properties
  • Sellers Best Bet** Selling Homes in Ladner Elementary and up to 2 bedroom properties

** With a minimum inventory of 10 in Most instances

  • Market Type Indicator LADNER ATTACHED: Sellers Market at 82% Sales Ratio average (8.2 in 10 Homes selling rate)
  • Homes are selling on average 100% of list price
  • Most Active Price Band** Insufficient data but with 7 sales $400,000 to $500,000
  • Buyers Best Bet** Homes in Neilsen Grove and 3 bedroom properties
  • Sellers Best Bet** Selling Homes in Delta Manor and 2 bedroom properties

** With a minimum inventory of 10 in Most instances



Recently Sold Listing 2507 - 4900 Lennox Lane, Burnaby, BC


R2278140 - 2507 - 4900 Lennox Lane, Burnaby, BC, CANADAI have just recently sold this listing at 2507 - 4900 Lennox Lane, Burnaby.

New Listing 305 - 1128 Quebec Street, Vancouver, BC


R2285950 - 305 - 1128 Quebec Street, Vancouver, BC, CANADAView my new listing for sale at 305 - 1128 Quebec Street, Vancouver and currently listed at $1,198,000.

Absolutely beautifully renovated 1447 sq ft 3 bdrm unit, 2 baths with WATER VIEWS of False Creek, City and Park, in sought after Olympic Village - encompassing Science World, Yaletown and the South Shore. The kitchen features polished stone countertops and under-mounted sinks with high end faucets giving it that luxurious feel. The storage and pantry feature custom millwork to maximize utility. Master bedroom has generous walk-in closet, beautifully appointed ensuite bathroom and gorgeous French-doors. Additional storage and two parking. Bosa's highly sought after National at City Gate is a well maintained building w/ a healthy contingency fund & proactive council featuring resort style amenities including an indoor pool, whirlpool & gym.