I absolutely love Burnaby and have lived in Burnaby for over 18 years now
and I think it’s a great place to live and raise a family. One of the many
things I love about Burnaby is how central it is and how easy it is to get
around. It’s proximity to Vancouver, the mountains and the ocean makes
Burnaby a remarkably attractive place to call home.
Some interesting facts about Burnaby that you may not have known.
Burnaby is east of Vancouver and it is the third largest city in British
Columbia by population, with Vancouver being the largest followed by
Surrey. It has one of the highest ratios of park land to residents in North
America, and maintains some agricultural land, particularly in the Big Bend
neighbourhood along its southern perimeter. The city was incorporated in
1892 and became a city in 1992, exactly 100 years after incorporation.
Another fun fact that you may not have known is, Burnaby’s official flower
is the rhododendron.
One of the main shopping attractions in Burnaby is Metropolis at
Metrotown which is the second largest mall in Canada. It offers over 450
shops, a giant food court, as well as Superstore and T & T Supermarket for
groceries, and don’t forget the Cineplex Cinemas Metropolis to catch that
great movie you have been waiting to see. I recommend that you wear
good shoes and be prepared to walk a lot, as it’s a great way to get your
steps in while being productive.
Burnaby Real Estate is very diverse. You will find condo’s, townhouses,
duplexes, detached houses, commercial properties, agricultural land and
leasehold land which is mainly surrounding Simon Fraser University. There
are many stunning views offered from many areas of Burnaby, namely
Capital Hill, Metrotown, and Brentwood . The Burnaby skyline has
expanded in the last few years, as more and more high-rise towers are
being built and in turn, many more amenities are being built to
accommodate. The Real Estate Market in Burnaby is constantly changing
and Burnaby remains a beautiful city with lots of great parks and beautiful
lakes to enjoy.
Whether it is the stock market or the real estate market; there are a few learned wisdoms that still apply just as much today as they did during the roaring twenties. “The best defense is a good offence” and “Do not try to catch a falling knife”! Lets exam these expressions for a moment, starting with the latter first. Trying to time a falling or rising market, whether it be for homes or commodities, can inevitably rely just as much on luck as it can on research and experience and when it comes to actual pricing and timing, these two areas can be most unpredictable. The fact is there are just too many complex factors to consider: interest rate changes, new home inventory, the job market etc., which is why you should always seek the advise of an experienced Realtor to remove some of the guesswork, as much as possible.
If a price decline has occurred, which is what every buyer hopes for when shopping for a new or upgraded home, then we often do not know it has happened until after the fact, in retrospect, when market stats are tabulated by the Real Estate Board of Greater Vancouver. We all want to think of ourselves as only making smart and more importantly ‘profitable’ investments, but buying low and selling high means being solely reliant on the market to pick when you and your family make all of your most important life decisions. Think about what we are expecting and “is it even realistic”? We all wish to get an amazing deal on the home of our dreams, however, we also want that home to immediately start improving in equity, the second we purchase it, for a rock bottom price. Sound like reality?
The best option, for most people when contemplating a future purchase or sale, is to get prepared as early as possible. Study the market, with your Realtor, getting pre-approved, if you are a buyer and getting comfortable with comparable home prices and features, in your neighbourhood and city. This way when you are ready to make the big decision, you are armed with a wealth of knowledge and already have a Realtor on your team to take the luck and guesswork out this most important transition! Being armed with all the facts of current market conditions is the bread and butter of being a qualified Realtor and working closely with a good one can lead to a lifetime of reaping the benefits afterwards!
Well 2020 has been quite the year so far, with Australian bush fires, oil prices dropping due to the conflict between Saudi Arabia and Russia and the Coronavirus global pandemic. It is only April 1st and I am already exhausted!
As we all know the safest place during this time is in our homes, as we are experiencing something very serious that will hopefully be short-lived. With all the tireless efforts everyone is taking too “flatten the curve” time will tell but, like many I am very optimistic we will get through this unprecedented time.
Notwithstanding Covid-19 the real estate market in Vancouver and the lower mainland continues to move. There are new homes coming on to the market, and sales being reported daily. Within the last few weeks I have seen multiply offers, back up offers and homes selling within days. Real estate agents, lawyers, mortgage brokers, appraisers, property inspectors, and land titles are all still open for business. These professionals associated with real estate have all modified the way they do business in order to keep everyone safe.
In talking with my family and friends over the last few weeks everyone seems so surprised I’m still working and able to show homes. I explain to them that on March 26 the provincial government announced that real estate agents are considered an essential service in BC. All open houses have been cancelled for now, virtual tours have become increasingly important, and we also face-time with clients if need be. Some agents are still conducting showings for clients whose need to find a home is urgent. For example, a seller may have sold their home earlier in the year and they now need to purchase a new home without being left in limbo. Many realtors are asking clients to do more due diligence ahead of time as this minimizes the amount of traffic going through the sellers home, and if prospective buyers are serious about a property, a viewing can be scheduled with precautions in place.
Over the last few weeks I have also sent out a form to my clients whether they are buyers or sellers. If people are in urgent need of finding a home we are implementing all the proper precautions including screening and asking the clients if anyone in the household is sick or has been travelling outside of the country.
So far it has been very helpful and initiates conversations regarding the Covid-19 and important precautions we should be taking.
Some ways that agents are navigating the recent changes on how we conduct showings in order to help keep everyone safe is……..
-Drive to showings in separate cars.
-Refrain from greeting others with a handshake or hug.
-Turn on all the lights and open any closet doors ahead of showings to minimize touching surfaces.
-Provide hand sanitizer, wipes and gloves
-Request visitors to wash their hands with soap and water
-Asking buyers to not touch anything in the home and let the listing realtor open and close any doors and closets.
-If children are present to hold the children at all times during the viewing.
-Maintain appropriate social distancing.
-Encourage clients to thoroughly clean and disinfect the home after viewings.
With everyone taking the necessary precautions in regards to Covid-19, I am positive we will all come out of this a stronger society. With spring in the air, I am sure we are all looking forward to spending some time outdoors, and hopefully resuming some normalcy in the near future.
Stay healthy everyone and keep your social distance.
The smart buyers are already looking at homes, to take advantage of price value and interest rate opportunities
Homes in the Greater Vancouver Area are starting see market shifts in home values. It seems that the prices are starting to vary acording to "micro markets." This applies mostly to the Single family homes category as it's seeing higher inventory levels in some areas. Despite the increase, sales in some markets remain strong. In the attached categories, the Condo and Townhouse market is remaining strong. Prices are continuing to surge in these markets. Are you wondering what your home's value is or just curious about the market in your area? Home owners please visit www.allvancouvergroup.com and click on "Home Evaluation" under the "Selling" tab.