News & Announcements

Hello  Real Estate Interestee –  

How’s your Summer been treating you? It’s been a crazy month of dry weather with not a single drop of rain in sight! It was beautiful but it was dreary hot as well. Really glad we got some rain – but don’t get too relieved, there will be another heat wave arriving after the rain stops! As this was happening, my thoughts go to Lytton. The forest fire completely wiped out an entire town was completely unfathomable but sadly it had happen. As for the current market – it has lulled a bit due to more people are out and about for the Summer to enjoy the weather and to reconnect with friends and family that we haven’t seen for a long time. As a result, we’re looking to see less multi offer situations or less buyers competing. However, it doesn’t mean there is less turnover, it’s just means buyers are taking more time to remove subjects to ensure their due diligence are done. We may see some momentum as school starts back again and we’re back to some sort of normalcy. 

Some updates:

#CovidBC update: 

B.C. health officials announced 464 new cases of COVID-19 on Friday, bringing the seven-day rolling average of new cases to its highest since the end of May.

The statement from the province said there are currently 2,411 active cases of people infected with the novel coronavirus in B.C. — the highest count since June 4.

The case breakdown by region is as follows:

• 275 new cases in Interior Health, which has 1,356 active cases. 
• 72 new cases in Fraser Health, which has 486 active cases.
• 60 new cases in Vancouver Coastal Health, which has 324 active cases.
• 27 new cases in Island Health, which has 145 active cases.
• 29 new cases in Northern Health, which has 88 active cases.
• 1 new cases among people who reside outside of Canada, a group that has 12 active cases.

There are six active outbreaks in long-term care homes in the province. Four are in the Interior Health region, one is in Fraser Health and one is in Island Health. 

A total of 52 people are in hospital. Of those, 24 are in intensive care — up from 16 a week ago.

 – CBC news report

Stay safe and healthy!!!

– Sam

Hello  Real Estate Interestee –  

How did you endure the heatwave that we had 2 weeks ago? I was lucky to have such wonderful neighbours who had central a/c in their home took us in! I also went to the mall to take advantage of the a/c there as well. That was my way of enduring that dreadful heatwave! I know portable a/c were flying off the shelves and completely sold out – hopefully you were able to get your hands on one. Since we just celebrated Canada Day, mask is no longer mandatory! Yay! But it’s still best to say on the precautionary side and still wear one in large public spaces to ensure everyone’s health and safety. As for the market so far….since restrictions have been slowly lifted and we’re back to some sense of normalcy – many families are looking to take advantage of this Summer break to focus on more gatherings and more outings. So we’re seeing a slight decline in activity which is pretty typical during the Summer season. With that being said, the new stress test that was implemented on June 1st, combating COVID has been successful has lead to people’s mentality to focus on other things and less on real estate. With that being said, the market is currently feels more of a balanced market with buyers getting some breathing room to include subjects to protect themselves and to possibly negotiate as well.  In the meantime – stay hydrated as much as possible – our temperatures is only getting hotter each year!

Some updates:

#CovidBC update: 46 new cases since we last reported, for a total of 147,797 cases in BC. There have been no new deaths, for a total of 1,759. 5,340,256 doses of COVID-19 vaccine have been administered in BC.

Stay safe and healthy!!!

– Sam

Hello  Real Estate Interestee –  

***Just want to apologize a head of time that moving forward till the end of the year – I may not be able to post my newsletter as frequently or it may get delayed since I’m current taking leave to take care of little baby and learning to be a new mom as well. Thank you for your patience and support. 

We’ve been pretty lucky here on the West Coast to enjoy some amazing and hot weather. Summer is coming right around the corner. Dine in is open and we’re looking forward to the light at the end of the tunnel with the COVID-19 being more controlled. A little more patience we can slowly resume back to seeing friends and love ones, and travelling. So what is the somewhat market speculation or forecast – unfortunately – I don’t have a crystal ball to tell you that – but as we head into the Summer season, we would probably see possible slow down in the market since we would want to spend more time outside and less focus on wanting to buy / sell. Also the new stress test that had taken effect as of June 1, 2021 may have deterred some new buyers and new sellers to enter the market as it will face tougher rules that decrease the buying powers of most buyers. At the moment, prices in certain types of homes have stayed balanced with less competition to drive the price up compared to early in the year. 

Some updates:

As of June 4th – B.C. health officials announced 183 new cases of COVID-19 and one more death on Friday.

A total of 224 people are in hospital, with 59 in intensive care — the lowest ICU number that B.C. has seen this year.

Overall hospitalizations, which typically lag behind spikes and dips in new cases, are down by 23 per cent from last Friday, when 292 people were in hospital with the disease. The number of patients in intensive care is down by about 25 per cent from 79 a week ago

Henry provided further information this week on how B.C. residents will receive their second dose of COVID-19 vaccine, reiterating guidelines released earlier this week from the NationaI Advisory Committee on Immunization about mixing certain vaccine types.

Henry said it is safe and effective to receive a different type of mRNA vaccine for a second dose where necessary because they use similar technology.

Stay safe and healthy!!!

– Sam

Hello  Real Estate Interestee –  

Have you been enjoying the beautiful Spring weather and capturing the cherry blossoms that we’ve been having?! I know I was able to take a few photos of these stunning trees. I have to say – we’re super fortunate to be able to enjoy them – to me, it’s a sign of Summer arriving very soon! Since we’re still on strict guidelines and no dine in – being able to be outdoors and enjoy the weather is one of the best things I look forward to. As for the market – things have definitely changed since the last report. In March, there has been a surge of demand and low supply as a result, there was numerous multi offer bids that made record history. You see detached were a huge hit and made it’s way from the Tricitites to the Vancouver market. However, this demand started to waiver and we saw less demand as we got into Mid-April till now. Possible reasons for this? 1. Buyer’s fatigue – buyers are feeling the stress and confidence in losing out on every offer the have – so they are waiting and taking their time 2. Interest rates have increased – so that have made some buyers to hold back from purchasing at the moment 3. Eligibility / Tax Season – Many applicants are looking to get a mortgage approval may have been using their 2019 income to apply. However, due to the pandemic their 2020 income have changed their eligibility so it may impact on how much they can afford since personal taxes need to be filed in Apr. So these factors may be a contributing factor of why the homes are more balanced and less aggressive in competition compared to March. 

Some updates:

Another 697 cases of COVID-19 have been recorded in British Columbia, along with one death.

Of the new cases, 142 were in the Vancouver Coastal Health region, 456 were in the Fraser Health region, 19 were in Island Health, 65 were in Interior Health, and 14 were in Northern Health.

More than 1.9 million doses of COVID-19 vaccine have been administered in B.C., 92,244 of which are second doses.

Earlier Tuesday, officials in the Fraser Health region said all licensed child-care workers, school-based staff, police and RCMP along with fire departments in the health region who have not yet received their COVID-19 vaccine can book their immunization appointments starting Wednesday.

Tam said the decline in national cases has slowed, with an average of 7,900 cases reported daily, but the number of people experiencing critical or severe illness remains high.

Tam says more than 1,450 people are being treated in intensive care units every day and an average of 47 deaths are being reported daily.

Stay safe and healthy!!!

– Sam

Hello  Real Estate Interestee –  

Spring has arrived and the weather is looking good for Vancouver. I’ve been enjoying being outside and appreciating the amazing colours from the cherry blossom bloom! It’s so beautiful! I just hope some of you are okay because I know this is also allergy season as well. So how did March do in regards to the heated market? People have been feeling the pinch and it’s been highly competitive and little supply which made it very favourable for the sellers. However, there is a slight exhaustion from the over bidding and the heat has curbed slightly closer to the end of March with more inventory showing up and more people are taking a closer look at the homes prior to putting in an offer and competing. So how will this look for April? The trend of being a seller’s market will continue but may not be as heated as it was a couple months ago. 

Some updates:

B.C.’s online registration system for COVID-19 vaccine appointments opened to eligible adults on Tuesday morning, as the province overhauls its current program for making bookings.

The new “Get Vaccinated” system was made available at 8 a.m. PT. People who are 71 and older — those born in 1950 or earlier — and those who are clinically extremely vulnerable are now able to register online to book their appointment, as are Indigenous people who are 18 and older.

A new provincial call centre for booking vaccination appointments also opened Tuesday at 8 a.m. PT.

The launch of the provincewide portal comes as case numbers spike in B.C., with a record-high daily total on Saturday of 1,077 new infections and an outbreak within the Vancouver Canucks roster.

The changes to the vaccine booking process mean B.C. is moving into Phase 3 of its four-phase vaccination plan, the statement said.

“We have worked diligently and tirelessly to get this online registration, booking and tracking system ready for British Columbians,” said Dr. Penny Ballem, the executive lead of B.C.’s COVID-19 immunization program.

“Now, with the help of the new online and single phone number system, we’re ready to move onto the next phase.”

The province faced criticism last month for not having an online registration system ready to go when Phase 2 of the age-based vaccination program began, as call centres in each health authority were initially overwhelmed.

To date, 95,691 people who tested positive have recovered, and 912,056 doses of COVID-19 vaccines have been administered in BC, 87,474 of which are second doses.

The number of recorded cases in BC is the second-highest recorded in the province, after BC set a new one-day record last week, with 1,072 cases recorded between Thursday and Friday.

Stay safe and healthy!!!

– Sam

Hello  Real Estate Interestee –  

As some of you may have noticed there has been a huge uptick of demand and transactions in Real Estate which we’re looking at a surge of multiple offer situations where we see subject free and over asking offers. This surge you can definitely see in the demand of townhomes and detached homes. You’ll see that the demand started within the further Fraser Valley area and slowly coming through the lower mainland. Is this multi offer situation here to stay for the remainder of the year? Unfortunately, I’m not sure; but as prices keep getting pushed higher and higher, many buyers may be pushed out and will probably be waiting – or will consider buying a presale home or looking back to purchase a large condo if push comes to shove. That may happen later in the year or closer to early next year.  We’ll see how the vaccine will impact the demand on real estate as well.  

Some updates:

B.C. could be looking at a “post-pandemic world” this summer if the province’s vaccine rollout continues on the right track, Provincial Health Officer Dr. Bonnie Henry said Thursday.

It was a glimmer of good news as health officials announced 564 new cases of COVID-19 and four more deaths on Thursday.

However, the number of variants of concern continues to climb. Of the new cases, 46 were identified as variants, bringing B.C.’s total to 246. 

During Thursday’s live briefing, Henry expressed optimism for the province’s vaccine rollout, saying the province will look at revising current timelines as more vaccines become available.

 

Henry said she expects the single-dose Johnson & Johnson vaccine will be approved soon in Canada. All of the vaccines available are effective, she said, and anyone who is offered one should accept it.

Stay safe and healthy!!!

– Sam

Hello  Real Estate Interestee –  

How quickly January has passed by! Crossing fingers that we’ll be able to resume back to some sort of normalcy by late 2021 as we continue the vaccine roll out in Canada. So what does that mean for the real estate market for 2021? For January, and perhaps continuing throughout  2021 the pendulum is swinging back to a Seller’s market for. There has been a huge upsurge of demand in January where we see many buyers who were planning to purchase in 2020 put due to COVID had hold back from purchase entering into the market along with buyers entering into the market in 2021. There is also some Canadian Expats coming back from overseas to settle in BC as well. So with so many buyers coming into the market at the same time, the demand for homes especially in the detached and townhome sector are highly competitive. The attractiveness of low mortgage rates which has been historically an all time low is also spurring more people to purchase as well. 

Some updates:

 B.C. health officials have once again extended the province-wide ban on social gatherings and events, citing concerns around the growing number of COVID-19 variant cases.

Provincial health officer Dr. Bonnie Henry broke the news Friday morning that the tough restrictions first imposed back in November will continue indefinitely.

“Right now, we need to stay the path,” Henry said. “We need to buy time to understand how these variants of concern – whether these variants of concern – are going to affect transmission in our community.”

As of the last update from health officials on Thursday, B.C.’s active caseload was at 4,447, down from a peak of 10,009 on Dec. 17.

Stay safe and healthy!!!

– Sam

Hello  Real Estate Interestee –  

HAPPY NEW 2021 NEW YEAR! I hoped you had got got a chance to celebrate and enjoy the Christmas holidays during the Covid restrictions we have here. As we all know – 2020 was a year that will be historical moment that we would never forget. We’ve learned to adapt and be flexible in how we work, how to learn more things and be creative at home. Lastly we learn to appreciate the simplistic things in life that we may have take granted for. As we look towards 2021, we can only continue to stay positive and strong in adapting the changes that comes with it. As for how 2021 will look for the real estate market, the direction will depends on the confidence level of whether the vaccine will help combat current and new strain of the virus. If the vaccine is effective, then the expectation and hopefulness of normalcy will possibly make a push of an increase of activity in the market. 

Some updates:

New variant detected in B.C.

The first B.C. case of the new COVID-19 variant was detected in an individual who lives in the Island Health region and returned from the U.K. on Air Canada Flight AC855 on Dec. 15.

The person developed symptoms while in a mandatory 14-day quarantine and was subsequently tested. The positive diagnosis was confirmed on Dec. 19. Henry says that while there is no evidence so far that this variant affects the severity of illness, it does appear to transmit more easily.

Stay safe and healthy!!!

– Sam

Hello  Real Estate Interestee –  

My sincerest apology for being MIA with my newsletters over the last 2 months! Since the COVID phases were less restrictive and more people were enjoying the Summer weather while we can. The surge of market activity surged which left me unable to take the time to send out any updates. However, I am back and making up for the last two months of reports that I have missed.

Some updates:

Henry strongly recommended that travel in and out of the Fraser Health region and Vancouver Coastal Health region be limited to essential travel only.

The new public health orders are in effect from Saturday night at 10 p.m. to Monday Nov. 23 at noon. 

Businesses and recreation centres have been ordered to stop holding indoor group physical activities for two weeks, including yoga, spin, dance, and group fitness classes. Fitness centres that cater to individuals, where physical distancing can be maintained, can remain open.

Indoor sports where physical distancing can’t be maintained are suspended, though this does not apply to physical activities in schools.

Henry said workplaces must ensure physical distancing, especially in break rooms and kitchens. She said businesses that can’t maintain COVID-19 protocols will be shut down by health officers and restaurants that can’t adhere to safety plans may have to revert to take-out only.

Stay safe and healthy!!!

– Sam

Hello  Real Estate Interestee –  

The Summer feels extremely short this year. However, we have had some pretty hot days during this period. I apologize for being so extremely late for sending out my newsletter this month. I have been pretty busy with work but since the Summer is so short – I’m trying to take advantage of the weather by enjoying the outdoors as much as possible before we head into the wet and damp rain when we enter into the Fall season. As much as we have been enjoying the sunshine – I’m sure we’re all aware of the uptick of cases of Covid19 cases lately which we should stand vigilantly to ensure we all practice safe distancing and protocol to help control any further outbreak. Let’s all work together to curb this increase. 

Some updates:

Under the Emergency Program Act, people who organize large, unsafe gatherings or ignore provincial health orders relating to mass gatherings and events can be issued a fine or violation ticket of either $200 or $2,000 as of August 21, 2020- link: https://news.gov.bc.ca/releases/2020PSSG0046-001568

If you have any questions so far about this, please don’t hesitate to ask

– Sam