PEDRO GOMES ​- ​​REALTOR®

Cell: 778.999.REAL (7325) |

 

 

When you’re preparing your home for sale, it’s not unusual to need to fix up a few things around the property. After all, you want your home to look its best to buyers, so that you get good offers, quickly.

 

What do you need to fix? Here are three categories that will help you create and prioritize your list.

 

1. Anything that squeaks or creaks.

 

Is there something in your home that makes a noise it shouldn’t be making? Perhaps it’s a rattling closet door or a creaking floor board? You may be so used to it you no longer notice the sound. But buyers will. Be sure to get those items fixed.

 

2. Anything that’s unsightly.

 

You don’t have to make your home look perfect. However, things that are unsightly will likely get buyers’ attention. You want them to focus on the terrific features of your property, not the scuff on the wall. Take a walk through your property, including the yard. Pretend you’re the buyer. Do you notice anything that doesn’t look good? If so, tidy it up, fix it up or replace it.

 

3. Anything that’s broken.

 

If there’s anything that needs repair — an outside tap that’s not working, or a sliding door that regularly careens off its runner — call the contractor or fix it yourself. Getting these items fixed will go a long way toward making your home appealing to buyers.

 

Want more tips on preparing your home for sale?

 

Call Pedro at 778-999-7325 today.

Post CommentComments: 0Read Full Story

 

Imagine finding a home you love, making an offer, and then finding out there
are other competing offers on the table. Ouch.

 

If you’re looking for a property in a competitive market, it is likely that there
will be multiple offers. Even just one can create the risk that you’ll lose the
home. So how do you make sure your offer is enticing enough to win over
the seller? Here are some ideas:

 

• Don’t make a low-ball offer. If you do, it might be dismissed and you
probably won’t get another chance to bid — especially if the other
competing offers are near the listing price.

 

• Have a pre-arranged mortgage and include that with your offer. This
reassures the seller there won’t be any money issues. (Most lenders
will provide you with a pre-arranged mortgage certificate for this
purpose.)

 

• Go in with a price high enough that the seller will be interested, but
not so high as to be leaving money on the table. This is tricky and
requires a savvy knowledge of the current market.

 

• Have a REALTOR® present the offer on your behalf. A REALTOR®
will know how to do so professionally, and in a manner that gives you
the best chance of getting the home.

 

In a competitive situation, working with a REALTOR® who is an expert on
the local market — and a skilled negotiator — is crucial.

 

Looking for a REALTOR® like that? Call 778-999-7325 today.

Post CommentComments: 0Read Full Story

Move-up buyers are in a great position to sell their current smaller home such as a condo or townhouse at a strong price, and make lower offers with subjects on detached homes, for which there is now less competition.

 

Reason is due to the newer government policy constraints such as the 15% foreign tax which are expected to slow housing demand by more than 15% due to the limited numbers of eligible buyers.

 

B.C. Real Estate Association is predicting average home sales prices will drop by as much as 8.7 per cent next year in the Vancouver area and across B.C. This drop will be mainly in the detached market while condos & townhomes should remain stable with slower price increases.

 

The supply of homes for sale, especially in the condo market, is expected to trend higher next year as moderating demand is met with added new home completions.

 

Contact Pedro at 778-999-7325 for any further questions.

Post CommentComments: 0Read Full Story

Image result for which choice is best

 

When considering which of two or more competing offers to accept for your home, there is no doubt price plays a huge role. After all, if Offer #1 is $10,000 higher than Offer #2, that’s an enticing difference that puts thousands of extra dollars in your pocket.

 

However, price isn’t the only thing you should think about when comparing multiple offers. There are other factors you need to consider as well.

 

For example, what conditions are in the offer? If Offer #1 is conditional upon the seller selling his current property for a specific amount, then what if that doesn’t happen? You could end up with an offer that dies and be forced to list your home all over again.


In that circumstance, accepting the lower offer may be your best move.

 

There’s also financing to consider. Most sellers will attach a certificate from their mortgage lender to show that they can afford the home and will likely secure financing with little difficulty. If you get an offer where the ability of the seller to get financing is in doubt, that’s a red flag.


The closing date is another important factor. Offer #1 might propose a closing date that’s perfect for you, while Offer #2 is four weeks later. If you’ve already purchased another home, you might require a month of bridge financing if you accept Offer #2. There’s nothing wrong with that per se, but the costs and additional hassle are factors you should consider.

 

As you can see, assessing competing offers isn’t as easy as it looks. Fortunately, as your REALTOR®, I will guide you toward making the right decision.

Post CommentComments: 0Read Full Story



As you’re probably aware, the list price you set for your property has an impact on how quickly it sells — and how much you earn on the sale.

 

What you may not realize is just how significant an impact it has. Consider the following examples.

 

Example 1:


You price your property well above its current market value. As a result, many buyers don’t bother to see it because it’s outside of their price range. Those who do see it are confused by the high price tag, (and may even be suspicious.) They may wonder, “What’s going on?”

 

In this scenario, the home will likely languish on the market for weeks or even months. You might even have to lower the price dramatically to re-ignite interest.

 

Example 2:


You price your property just a couple of percentage points lower than what is necessary to gain the interest of qualified buyers. That might not seem like much of a problem. How much can a couple of percentage points matter?

 

Those points matter a lot.

 

On a $400,000 property, pricing your home just 2% lower than necessary could cost you $8,000 on the sale. That’s a serious amount of money!

 

So, as you can see, pricing your home right is serious business. Fortunately, a good REALTOR® knows how to set the right price.

 

Looking for a good REALTOR®? Call Pedro at 778-999-7325 today.

Post CommentComments: 0Read Full Story

image

 

Property owners received their 2016 assessment notices the first week of January 2016.

 

The 2016 Assessment Notice is BC Assessment’s (BCA’s) estimate of a property’s value as of July 1, 2015, and for new construction or substantially renovated homes, the physical condition as of October 31, 2015.

 

BCA is a publicly owned provincial Crown corporation responsible for determining and reporting property value estimates for the 1,996,112 properties in its database, an increase of 1.06% from 2015. BCA has produced the assessment roll since 1974.

 

Real estate sales determine a property’s value, which are reported annually to BCA. Local and provincial taxing authorities are responsible for property taxation and, after determining their own budget needs, calculate property tax rates based on the assessment roll for their jurisdiction.

 

Municipalities determine tax rates for each property class in the spring, once the assessment roll is finalized. Changes in assessment over the year don’t automatically translate into the same percentage changes in property taxes for any particular class of property or for any individual property.

BCA’s assessment and a REALTOR’S® assessment. Why the difference?

BCA’s assessment and the market value determined by a REALTOR® may be different. Why?

 

Both BCA assessors and Realtors calculate market value by analyzing sales of comparable homes within a local market. They also look at factors that affect value such as size of home, view, location such as on a busy or quiet street, number of bedrooms, construction quality, floor level, and garage or parking stalls.

 

Where every lot and every home on a street are typically the same, both BCA’s value and a Realtor’s value will be similar during stable market conditions. Differences occur in neighbourhoods where lots have been rezoned or are different shapes and sizes, where architecture and views are unique, and where owners have made changes that BCA hasn’t yet taken into account.

When you view your assessment

Property owners can look up their assessments on e-valueBC on BCA’s website.

 

Details include a photo, a property description (land and buildings), the total assessed value, the previous year’s value, the legal description, and a property ID.

 

If property details are incorrect, property owners are directed to complete and submit an e-valueBC Data Validation Form.

 

Property owners can also compare neighbouring properties and sample sold properties to decide whether their property has been correctly assessed.

Deadline to appeal your assessment is February 1, 2016

Property owners who disagree with their assessment should do their homework by:

  • comparing their assessment with neighbouring properties; and
  • contacting BCA at 1-866-valueBC (1-866-825-8322) and talking to staff who can make adjustments if there’s an obvious error, for example if BCA included a complete renovation, when it was merely a spruce-up.

Property owners who appeal their property assessment should review information on the Property Assessment Appeal Board website on how to prepare for an appeal. Then they can fill out the Notice of Complaint (Appeal) Form.

 

The deadline to file an appeal is February 1, 2016.

Each year less than 1 per cent of BC property owners appeal their assessments.


Note: You can’t appeal your taxes. You can only appeal your assessment.

For information about BC Assessment and to access e-valueBC visit www.bcassessment.ca or phone 1-866-valueBC (1-866-825-8322).

Sample Property Value Changes in our neighbourhoods

Vancouver's East Side saw the largest increase at 28 per cent for a detached home on a 33-foot lot. This was followed by Burnaby where a detached home in Buckingham rose 27 per cent, West Vancouver where a waterfront home rose 24 per cent, and in the Garibaldi Highlands where a detached home rose 23 per cent.

Additional examples may be found in this BCA news release.

image

Did you know?

  • The total value of real estate on the 2016 BC assessment roll is $1.34 trillion, an increase of 11.1 per cent from 2015.
  • In BC, 87.7 per cent of all properties are classified with some residential component, equating to $1.018 trillion.
  • Changes in property assessment reflect movement in the local real estate market and can vary greatly from property to property.
  • Real estate sales determine a property’s value, which is reported annually to BCA. 
  • BCA’s assessment roll provides the foundation for local and provincial taxing authorities to raise $7 billion in property taxes each year which funds community services including the school system. 
Post CommentComments: 0Read Full Story

Should You “High Ball” Your Listing Price?

 

One of the most important decisions you make when selling your home is setting the listing price. That can be tricky. After all, if you price your property too low, you leave money on the table — perhaps thousands of dollars. On the other hand, if you price your home too high, many buyers won’t even bother to see it, believing it is too expensive.

 

Even with that reality, there are some sellers who contemplate setting a high listing price in the hopes of a windfall. They want some unsuspecting buyer to fall in love with the home and buy it — even though it’s overpriced.

 

That rarely, if ever, happens.

 

Instead, the listing often languishes on the market because its listing price is conspicuously much higher than its market value.

 

Think about it. If two similar homes, side-by-side, are for sale, and one is priced $40,000 higher than the other, wouldn’t you wonder what was going on? That’s exactly what the market thinks. “Why is that home priced so high?”

 

Of course, many buyers, who might otherwise be interested in the property, won’t even consider seeing it, simply because it’s outside their price range.

 

It gets worse. When an overpriced home sits on the market with no offers for several weeks, the price will often need to be adjusted down. That helps the situation a little. However, you’ve lost the excitement created by a “new listing.” Yours is now an old listing struggling to get attention.

 

There’s a better way…

 

Setting your list price at or near the market value is much more likely to generate interest from qualified buyers and maximize how much you make on your home. 

 

That market value may even be higher than you think!

 

Interested in finding out how much? Call Pedro @ 778-999-7325 today.

Post CommentComments: 0Read Full Story

When would you talk to a car salesperson? Probably only once you’re ready to buy a new car. You would do some initial research (perhaps on the internet), get an idea of what you want, and then go to the dealership to meet a salesperson, test drive the car and make the purchase.

 

Although that approach may work when you’re buying a car, it’s not the best approach when it comes to real estate.

 

You see, successfully buying or selling a home requires a lot of planning and legwork. You want the process to go smoothly, the right decisions to be made, and the best possible deal to be negotiated.  

 

After all, this is the purchase and/or sale of your home!

 

So, the best time to talk to a REALTOR® is as early in the process as possible.

 

In fact, even if you’re just thinking of buying or selling — and simply want to explore the possibility of making a move sometime this year — you should have a conversation with a good REALTOR®.

 

A REALTOR® will answer your questions, provide you with the information and insights you need, help you avoid costly mistakes, and make sure you’re heading in the right direction.

 

When you are ready to buy or sell, having worked with a REALTOR® early in the process will help ensure you get what you want.

 

So talk to a good REALTOR® when:

 

  • You have a question about the local market.
  • You want to know what your home might sell for today.
  • You’re interested in checking out homes currently available on the market.
  • You’re in the midst of deciding whether or not to make a move.
  • You’ve decided to buy or sell.

 

Getting a good REALTOR® on your side early in the game makes everything a lot easier for you.

 

Looking for a good REALTOR®? Call Pedro @ 778-999-7325 today.

Post CommentComments: 0Read Full Story

Informed Home Buyer October 15

Post CommentComments: 0Read Full Story