Vancouver Real Estate News from Andrea Rozenberg

February 2024

 
 

Heller Murch

The latest Vancouver real estate stats are listed for you below, along with details on the Vancouver Winter Arts Festival!

Purchasing a home is an emotionally charged experience that can cloud the judgment of even the savviest of buyers so this month, there are some tips on how to avoid buyer's remorse.

Finally, with interest rates much higher than we’ve been used to, there are a few debt management strategies to help you and your loved ones shake off the shackles of debt.

Thanks for checking out this month's newsletter. Please reach out if you ever have any questions about real estate, even if it’s just to find out what the house down the street sold for – it’d be great to hear from you!


Best Regards,
Andrea Rozenberg

 
 

VANCOUVER REAL ESTATE UPDATE

Vancouver - January 2024Please don't hesitate to reach out for detailed stats that are specific to your neighborhood, or even if you're just curious about what the house down the street sold for – it'd be great to hear from you!
 
 

THE VANCOUVER WINTER ARTS FESTIVAL

Vancouver Winter Arts FestivalBeat the winter blahs with an arts festival that will light up the city!
The annual Vancouver Winter Arts Festival is a vibrant celebration of creativity that allows you to dive into the local arts scene amidst the crisp winter air.

This year, the Vancouver Winter Arts Festival includes new public art and light installations, guided tours, pop-up parties and an all-ages Hub featuring a licensed bar and free daily live entertainment.

Beyond its entertainment value, the festival also serves as a platform for dialogue and reflection, with discussions, workshops, and forums exploring the intersection of art, culture and society.

This free, family-friendly outdoor event takes place between Thursday, February 22nd and Thursday, February 29th. Hope to see you there!
 
 

BANK OF CANADA RATE UPDATE

Interest Rate PercentThe Bank of Canada holds the policy rate at 5% in its first decision of 2024.
In a scheduled announcement on January 24, 2024, the Bank of Canada decided to maintain its target for the overnight lending rate at 5%. This was its fourth consecutive hold after two interest rate hikes last summer.

The Bank noted that Canada’s economy had performed sluggishly over the second half of 2023 and anticipated no growth over the first quarter of 2024 before picking up in the second half of this year.

The Bank also stated that “spending by governments contributes materially to growth through the year,” suggesting they will be waiting until the federal government tables the next budget before revising their projections.

The Bank once again cited shelter costs as the largest contributing factor to above-target inflation due to rising mortgage interest and rents, which it does not expect to return to its 2% target until next year.

Although many components of the CPI are showing signs of normalizing, with the Bank noting in its Monetary Policy Report that monetary policy is working as intended to slow growth, core measures are still running higher than the Bank’s preferred range.

The Bank is still concerned about risks to the outlook for inflation, particularly underlying core inflation, and would like to see “further and sustained easing” in this regard while it focuses on economic and other inflationary factors.

The Bank of Canada’s next scheduled interest rate announcement will be on March 6, 2024, and will publish its full outlook for the economy and inflation in its next Monetary Policy Report on April 10, 2024.
 
 

AVOIDING HOME BUYER’S REMORSE

Key In DoorIf you’re looking to make a move, a bit of planning will help you dodge the uneasy feeling of post-purchase regret.
Buying a home can be an emotional roller coaster which can cause people to make mistakes as they get swept up in all the excitement. Here are a few common buyer blunders to be aware of:

List to Last
Make a list of essential features you can’t live without. It's easy to be dazzled by amazing curb appeal or an inground pool but don’t be taken in if it lacks the essentials.

Stick to Your Budget
Buyers who overextend themselves may be forced to sell if their circumstances change so avoid temptation by only viewing homes that are in your price range.

Location, Location, Location
Choosing a location that suits your lifestyle is crucial, so determine how far you’re willing to be from public transit, shops, restaurants and other amenities.

Getting Schooled
If you’re looking to lay down roots and start a family in the next few years, it’s important to consider how close you’ll be to parks, playgrounds and local schools.

Master the Market
The home you fall in love with today could be gone tomorrow. It’s therefore important to get acquainted with the market ahead of time so you'll have the confidence to act swiftly when the home of your dreams hits the market!

Inspect the Unexpected
Having the home inspected by a professional home inspector will provide you with peace of mind as you’ll have a better idea of any potential issues.

Professional Advice
The real estate process can be an emotional roller coaster so it's important to have a knowledgeable agent by your side to help you navigate the twists and turns you’ll face along the way.

House hunting should be a fun and exciting experience but it's important to stay grounded so that you don’t jump into a long-term commitment that you may later regret.

As long as you conduct your research ahead of time and are well aware of your wants and needs, you'll be able to move forward with confidence and peace of mind.

If you ever have any questions about the Vancouver real estate market, please don’t hesitate to get in touch – it’d be great to hear from you!
 
 

PAYING DEBT PAYS OFF

Debt EraserClimbing out of debt can feel like an uphill battle if there aren’t any footholds to follow.
Debt management is a topic that’s usually avoided but openly discussing this awkward subject with your loved ones can help them avoid a lifetime of financial woes. Here are a few of the basics:

Budget Crunch
Make a complete list of all fixed expenses such as rent/mortgage, car payments, utilities and groceries. Next, list variable expenses to see what can be reduced or eliminated.

Your Best Interest
Prioritize your debts so you can focus first on paying off high-interest, non-deductible debt such as credit cards and unsecured loans.

Consolidate
Monthly payments can be lowered by consolidating debt through a secured line of credit as the interest rate will usually be much lower.

Double Down
When unexpected money falls your way, put it towards paying down the principal of your debt as it will dramatically reduce the length and expense of your loan.

Reach Out
Getting ahead of debt is key so be proactive and reach out to creditors before things get out of hand as they’ll often be willing to work with you to help make things more manageable.

Discussing debt can be uncomfortable, but doing so can help your loved ones avoid a financial crisis that could devastate their credit rating and prevent them from borrowing money at attractive rates.

Almost everyone feels the credit crunch at some point, but with the proper game plan in place, you can shake off the shackles of debt and pursue a path to financial freedom!
 
 

VANCOUVER REAL ESTATE QUESTIONS

Questions About the MarketThe Vancouver real estate market's constantly changing, especially now that spring's right around the corner, so if you ever have any questions, please don’t hesitate to reach out – it’d be great to hear from you! 😄 📊 🏡
 
 
 
 

P.S. Please let me know if you'd ever like a hand finding your dream home or even if you're just curious about what the house down the street sold for. I'm always happy to help 😃

RSS

Open House.
Please visit our Open House at 420 Gleneagles DR in Kamloops.
This beautiful smart home has everything you need to enjoy life! 5 bedrooms with 2 bedrooms mortgage helper. This house has been extensively renovated for the last 3 years. Breathtaking views through the valley. Very close to school, shopping mall, parks. Very efficient floor plan. Upstairs you have 3 good size bedrooms, 4pc bathroom, 2 pc ensuite in the master bedroom and a laundry room. Large living room with high ceiling and extra-large windows to enjoy fully the view, and to entertain around the cozy fire place. A dining room that gives access to a nice size deck for your morning coffee. And a big kitchen that has everything you need to prepare delicious meals for friends and family. Downstairs you will find 2bed, 3pc bathroom, a large living room, dining room, full kitchen with SS appliances and a laundry room. You also have access to a good size deck, private fenced yard & inground pool. Double car garage, IG irrigation system, cold room and much more! Open House Friday April 1st 4-6, Sat April 2nd 1-4 & Sun April 3rd 1-4.(24350337)
Read

Open House.
Please visit our Open House at 420 Gleneagles DR in Kamloops.
This beautiful smart home has everything you need to enjoy life! 5 bedrooms with 2 bedrooms mortgage helper. This house has been extensively renovated for the last 3 years. Breathtaking views through the valley. Very close to school, shopping mall, parks. Very efficient floor plan. Upstairs you have 3 good size bedrooms, 4pc bathroom, 2 pc ensuite in the master bedroom and a laundry room. Large living room with high ceiling and extra-large windows to enjoy fully the view, and to entertain around the cozy fire place. A dining room that gives access to a nice size deck for your morning coffee. And a big kitchen that has everything you need to prepare delicious meals for friends and family. Downstairs you will find 2bed, 3pc bathroom, a large living room, dining room, full kitchen with SS appliances and a laundry room. You also have access to a good size deck, private fenced yard & inground pool. Double car garage, IG irrigation system, cold room and much more! Open House Friday April 1st 4-6, Sat April 2nd 1-4 & Sun April 3rd 1-4.(24350337)
Read

Open House.
Please visit our Open House at 420 Gleneagles DR in Kamloops.
This beautiful smart home has everything you need to enjoy life! 5 bedrooms with 2 bedrooms mortgage helper. This house has been extensively renovated for the last 3 years. Breathtaking views through the valley. Very close to school, shopping mall, parks. Very efficient floor plan. Upstairs you have 3 good size bedrooms, 4pc bathroom, 2 pc ensuite in the master bedroom and a laundry room. Large living room with high ceiling and extra-large windows to enjoy fully the view, and to entertain around the cozy fire place. A dining room that gives access to a nice size deck for your morning coffee. And a big kitchen that has everything you need to prepare delicious meals for friends and family. Downstairs you will find 2bed, 3pc bathroom, a large living room, dining room, full kitchen with SS appliances and a laundry room. You also have access to a good size deck, private fenced yard & inground pool. Double car garage, IG irrigation system, cold room and much more! Open House Friday April 1st 4-6, Sat April 2nd 1-4 & Sun April 3rd 1-4.(24350337)
Read

I have sold a property at 2205 1ST AVE E in Vancouver
I have sold a property at 2205 1ST AVE E in Vancouver.
Don't miss out! : Potential Land Assembly under 2M!!! Hold or build. 33'x 122' CORNER LOT w/ MULTIFAMILY RM-12N zoning & higher density on the way with assembly options. This fixer up has 4 bedrooms, 1 full bathroom, living room and a kitchen on the main floor. The basement suite (partly finished) has it's separate entry with 4bedrooms and 1 full bath + potential kitchen . Detached Garage. This house has a huge potential, just bring your ideas. Sold 'As is Where is'. Possible 3.5 storey townhomes/rowhouses, triplexes, duplexes, 1.45 max FSR. Option for 4 storey apartments with minimum 120' frontage, 1.7 FSR. Check zoning and details with COV.
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Open House. Open House on Saturday, March 26, 2022 1:00PM - 3:00PM
Please visit our Open House at 306 3680 RAE AVE in Vancouver.
Open House on Saturday, March 26, 2022 1:00PM - 3:00PM
Ready to move in, bright and spacious South facing 1 bed 1 bath unit at Rae Court. Spacious living/dining room with a cozy fire place.. New kitchen(2020) with new SS appliances, and marble counter top. Bathroom renovated (2020) with new sink, faucet, vanity, lights, toilet and tiles. Good size bedroom that could easily fit a king size bed and a spacious custom made closet. Beautiful laminate flooring (2017) and hot water tank (2019), in-suite laundry and a large sunny south facing balcony for some gardening inspiration. Roof done in 2019. 1 parking & 1 locker included. 2 pets allowed (small dog or cat). Rentals not allowed. Centrally located, close to shops, restaurants, Metrotown and central park. 10 min walk to Joyce Skytrain and 30 min from downtown. OH sat 1-3 & sun 2-4
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Open House. Open House on Sunday, March 27, 2022 2:00PM - 4:00PM
Please visit our Open House at 306 3680 RAE AVE in Vancouver.
Open House on Sunday, March 27, 2022 2:00PM - 4:00PM
Ready to move in, bright and spacious South facing 1 bed 1 bath unit at Rae Court. Spacious living/dining room with a cozy fire place.. New kitchen(2020) with new SS appliances, and marble counter top. Bathroom renovated (2020) with new sink, faucet, vanity, lights, toilet and tiles. Good size bedroom that could easily fit a king size bed and a spacious custom made closet. Beautiful laminate flooring (2017) and hot water tank (2019), in-suite laundry and a large sunny south facing balcony for some gardening inspiration. Roof done in 2019. 1 parking & 1 locker included. 2 pets allowed (small dog or cat). Rentals not allowed. Centrally located, close to shops, restaurants, Metrotown and central park. 10 min walk to Joyce Skytrain and 30 min from downtown. OH sat 1-3 & sun 2-4
Read

New property listed in sahali, kamlooops
I have listed a new property at 420 Gleneagles DR in Kamloops.
This beautiful smart home has everything you need to enjoy life! 5 bedrooms with 2 bedrooms mortgage helper. This house has been extensively renovated for the last 3 years. Breathtaking views through the valley. Very close to school, shopping mall, parks. Very efficient floor plan. Upstairs you have 3 good size bedrooms, 4pc bathroom, 2 pc ensuite in the master bedroom and a laundry room. Large living room with high ceiling and extra-large windows to enjoy fully the view, and to entertain around the cozy fire place. A dining room that gives access to a nice size deck for your morning coffee. And a big kitchen that has everything you need to prepare delicious meals for friends and family. Downstairs you will find 2bed, 3pc bathroom, a large living room, dining room, full kitchen with SS appliances and a laundry room. You also have access to a good size deck, private fenced yard & inground pool. Double car garage, IG irrigation system, cold room and much more! Open House Friday April 1st 4-6, Sat April 2nd 1-4 & Sun April 3rd 1-4.(24350337)
Read

New property listed in Collingwood VE, Vancouver East
I have listed a new property at 306 3680 RAE AVE in Vancouver.
Ready to move in, bright and spacious South facing 1 bed 1 bath unit at Rae Court. Spacious living/dining room with a cozy fire place. New kitchen(2020) with SS appliances and many cupboards. Bathroom renovated (2020) with new sink, faucet, vanity, light and tiles. Good size bedroom that could easily fit a king size bed and a spacious custom made closet. Beautiful laminate flooring (2017) and hot water tank (2019), in-suite laundry and a large sunny south facing balcony for some gardening inspiration. Roof done in 2019. 1 parking & 1 locker included. 2 pets allowed (small dog or cat). Rentals not allowed. Centrally located, close to shops, restaurants, Metrotown and central park. 10 min walk to Joyce Skytrain and 30 min from downtown. OH Sat 1-3 & Sun 2-4 BY APPOINTMENT.
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I have sold a property at 109 7168 STRIDE AVE in Burnaby
I have sold a property at 109 7168 STRIDE AVE in Burnaby.
Welcome to Eden at Edmonds! Bright corner 1 bed, 1 bath, ground level unit townhome, featuring high ceilings, 2 patios, front (140sqft) and rear (133sqft), new laminate floor through out. Very efficient layout with no waste of space. The interior offers natural stone countertops, stainless appliances and full-sized front load washer and dryer. This is an end/corner unit with windows on 3 walls for a bright airy feeling. Very well maintained building, low strata fees. Underground secure parking & locker included. Bike storage. Centrally located, 10 min walk from Edmonds Skytrain, 5 min drive to Highgate Village Shopping Center (restaurants, shops, gym, florist and more!). 1 Pet allowed and rentals are welcome. A beautiful place to call home or a great investment! Open House Cancelled
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I have sold a property at 1779 16TH AVE W in Vancouver
I have sold a property at 1779 16TH AVE W in Vancouver.
Historic craftsman-style 2 bed, 1 bath, back Townhome on the quiet side of West 16th Avenue. Part of the Heritage by Formwerks series of 12 boutique homes located in lower Shaughnessy. This open layout has 9ft ceiling, radiant in-floor heating & 200sf plus of outdoor living. The unmatched style by Formwerks exudes quality & features WOLF gas range, Fisher & Paykel appliances, Vanilla Noir Quartz counters, shaker panel cabinetry, manor-house style aproned double bowl sink, automated lighting control system, & security system. Steps away from Vancouver Lawn & Tennis Club, popular South Granville shops, easy access to Kits Beach & downtown. Enjoy easy access to nearby Arbutus greenway and walk to future SkyTrain station at W Broadway/Arbutus & W Broadway/Granville. Rentals & pets allowed plus bike room.
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