STRONG SALES VOLUMES CONTINUE THROUGH APRIL

(Surrey, BC) – Property sales in the Fraser Valley soared in April compared to one year ago increasing by 37 percent.

There were 2,009 sales processed on the Fraser Valley Real Estate Board Multiple Listing Service® (MLS®) in April, compared to 1,470 in April of last year. These volumes rank third highest of all time for the month with the next best April in 2004 and prior to that in 1991.

“April was a very active market,” says Jorda Maisey, Board President. “The low cost of borrowing continues to attract first-time buyers and families looking to either downsize or upsize as they take advantage of the equity they’ve built up in their existing homes.”

Though there was a 2 per cent increase in new listings processed in April, as compared to April 2014, the increase was not enough to balance out the market. Total active inventory on the MLS® at month’s end was 8,384 properties, the lowest for the month of April in eight years.

As Maisey explains, what sellers are most looking for is a single family detached home, “In some of our areas, sixty to seventy per cent of inventory is selling. Depending on the location, some detached homes are selling in a matter of days, not weeks, which is why if you’re a buyer it’s so important to work with a professional who knows your neighbourhood and is networked with other REALTORS®.”

With demand high and available product slim, the benchmark price of single family detached homes continues to increase in most areas. In April, the MLS® HPI benchmark price of a detached home was $595,600, an increase of 5.2 per cent compared to April 2014 when it was $566,000.

The benchmark price of townhouses in April was $300,400, an increase of 0.6 per cent compared to $298,700 in April 2014. The benchmark price of apartments decreased year-over-year by 2.6 per cent, going from $196,300 in April 2014, to $191,200 last month.

Maisey adds, “For apartment owners, take heart, the condominium market in the Fraser Valley is improving. We are starting to see more activity at open houses and an increase in the number of sales; however, that market remains firmly in balance with plenty of selection and prices still flat or declining in certain areas.”

Full package:
http://www.fvreb.bc.ca/statistics/Package%20201504.pdf

Usually when you list your home you would prefer to sell it quickly.  It's like being the first one served at a crowded gelato bar...it's satisfying!

However, sometimes there's more to it than that.  There may be a truly urgent reason why you need to find a buyer for your property as soon as possible, such as a sudden job relocation.

If that's the case, it's important to explain your situation to your REALTOR®, who will be able to put together an action plan for selling your home quickly and for the best price possible.

During that conversation, ask what you can do to help the process along.  For example, you may be able to:

1. spread the word to your friends and other connections on Facebook
2. canvass your neighbors and tell them about your listing
3. stage your home so that it's more attractive to prosepctive buyers.

When it comes to price, be prepared to be flexible. That doesn't mean you must settle for a price far below your home's market value.  However, you do need to be prepared to accept a good offer rather than try to hold out for a great one.

Also be open to as many viewings and open houses as possible.  Having many prospective buyers come through your home within a short period of time may be a little inconvenient, but the payoff might be an offer!

Finally, work with your REALTOR®.  A good REALTOR® will know the local market well and have many ideas for selling your property fast.

Looking for a good REALTOR® like that?  Call today.

There are many hidden sources of moisture in your home that can lead to serious problems, such as mould. To keep moisture levels in check consider these tips:

-Bathrooms are an obvious source of moisture build up.  Contractor and TV personality Mike Holmes recommends keeping the fan going for at least half and hour after a shower.

-Check regularly for water infiltration around window and door sills, as well as other intakes into the home such as dryer vents and cable wiring.

-Determine the humidity level in your home.  According to the Environmental Protection Agency, it should be 30%-60%. (keep in mind that humidity may vary greatly from room to room)

-Regularly inspect caulking around sinks, tubs and showers.  Even a tiny break can cause water to leak gradually into the wall or floor, causing damage you may not notice for months.

-Clean up wet spills as soon as possible.  On hardwood floors especially, water can seep through and become trapped.

-Repair leaking faucets, toilets and pipes immediately.  A drip can quickly become a shower.

Being mindful of moisture today can help you avoid potentially high repair bills later on.