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HONEY, I HOUSED THE KIDS...

Wed, 27 Mar 2024 23:45:45 GMT

In this episode , we delve into the fascinating world of multigenerational real estate and explore the strategies behind generational wealth transfer. Enjoy and please feel free to comment.

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FLIPPING TAX, RENTAL CAPS & TRANSFER TAX... OH MY!

Wed, 28 Feb 2024 04:15:00 GMT

The provincial government last week announced new rules as it relates to flipping houses, Property Transfer Tax exemptions and rules affecting residential tenancies here in BC. Andrew Hasman and I discuss these changes in our latest Podcast. Enjoy and please feel free to comment.

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Home buyer competition intensifies across Metro Vancouver’s housing market

Tue, 02 Mar 2021 18:55:20 GMT

Competition amongst home buyers is putting upward pressure on home prices across Metro Vancouver’s* housing market.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,727 in February 2021, a 73.3 per cent increase from the 2,150 sales recorded in February 2020, and a 56 per cent increase from the 2,389 homes sold in January 2021.

Last month’s sales were 42.8 per cent above the 10-year February sales average.

“Metro Vancouver’s housing market is experiencing seller’s market conditions. The supply of listings for sale isn’t keeping up with the demand we’re seeing,” Colette Gerber, REBGV Chair said. “Competition amongst home buyers is causing multiple offer situations and upward pressure on prices.

“This is particularly true in the townhome market where demand is outstripping the available supply. Conditions differ depending on location and property type so it’s important to work with your local REALTOR® to develop strategies to meet your needs.”

There were 5,048 detached, attached and apartment homes newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in February 2021. This represents a 26.1 per cent increase compared to the 4,002 homes listed in February 2020 and a 12.7 per cent increase compared to January 2021 when 4,480 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 8,358, a 9.1 per cent decrease compared to February 2020 (9,195) and a 0.6 per cent increase compared to January 2021 (8,306). This is 21.2 per cent below the February 10-year average for new listings.

For all property types, the sales-to-active listings ratio for February 2021 is 44.6 per cent. By property type, the ratio is 41.8 per cent for detached homes, 61.8 per cent for townhomes, and 41.7 per cent for apartments.

Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

“Low interest rates remain a key driver in today’s market. We’re seeing steady numbers of first-time home buyers and move-up buyers entering the market,” Gerber said.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,084,000. This represents a 6.8 per cent increase over February 2020 and a 2.6 per cent increase compared to January 2021.

Less populated communities within the region continue to experience the largest year-over-year price increases across all property types. Examples, according to the MLS HPI®. include Bowen Island (34.4 per cent increase), the Sunshine Coast (32.7 per cent increase), West Vancouver (16.1 per cent increase) Maple Ridge (14.8 per cent increase) and Ladner (13.7 per cent increase).

Sales of detached homes in Metro Vancouver reached 1,231 in February 2021, a 79.7 per cent increase from the 685 detached sales recorded in February 2020. The benchmark price for a detached home is $1,621,200. This represents a 13.7 per cent increase from February 2020 and a 2.8 per cent increase compared to January 2021.

Sales of apartment homes reached 1,759 in February 2021, a 65.8 per cent increase compared to the 1,061 sales in February 2020. The benchmark price of an apartment is $697,500. This represents a 2.5 per cent increase from February 2020 and a 2.5 per cent increase compared to January 2021.

Attached home sales in February 2021 totalled 737, an 82.4 per cent increase compared to the 404 sales in February 2020. The benchmark price of an attached home is $839,800. This represents a 7.2 per cent increase from February 2020 and a 2.9 per cent increase compared to January 2021.

Note:

Areas covered by the Real Estate Board of Greater Vancouver include: Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver, and Whistler.

The real estate industry is a key economic driver in British Columbia. In 2020, 30,944 homes changed ownership in the Board’s area, generating $2.1 billion in economic spin-off activity and an estimated 14,728 jobs. The total dollar value of residential sales transacted through the MLS® system in Greater Vancouver totalled $33.7 billion in 2020.

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Jeff's Real Estate Board November 2020 Stats for Vancouver

Thu, 10 Dec 2020 13:56:00 GMT

The November 2020 Market stats are out and available for download. You get the following graphs and charts for both Vancouver East and Vancouver West.

Activity Snapshot by PropertyType
Detached Properties Report and Graph
Condo Report and Graph
Townhomes Report and Graph
Benchmark Price Graph
Average Price Per Square Foot

If you are interested in a report like this is for other areas, please contact me to request it and I'll send it to you.

DOWNLOAD VANCOUVER EAST & WEST

Jeff's Real Estate Board September 2020 Stats for Vancouver East & West

Fri, 09 Oct 2020 13:51:56 GMT

The September 2020 Market stats are out and available for download. You get the following graphs and charts for both Vancouver East and Vancouver West.

Activity Snapshot by PropertyType
Detached Properties Report and Graph
Condo Report and Graph
Townhomes Report and Graph
Benchmark Price Graph
Average Price Per Square Foot

If you are interested in a report like this is for other areas, please contact me to request it and I'll send it to you.

DOWNLOAD VANCOUVER EAST & WEST

Jeff Benna in The Globe and Mail | Vancouver buyers get the green light

Fri, 01 Nov 2019 19:48:17 GMT

Jeff Benna, who has 30 years experience as a realtor, also charts his own data based on stats he obtains from the REBGV. As an agent who sells properties throughout the city, he’s having one of the best years of his career. His stats for the east side of the city, as of Oct. 4, show the average house price at $1,523,744 and average condo at $691,533. On the west side, the average house price is $2,924,101 and the average condo $963,879....

GET THE FULL GLOBE AND MAIL ARTICLE

Jeff Benna becomes a Medallion Club Life Member

Wed, 29 Mar 2017 21:02:40 GMT

Each year, the Real Estate Board of Greater Vancouver (REBGV) celebrates the achievements of its top-producing Realtors on the Mul-tiple Listing Service® (MLS®) with the Medallion Club and President’s Club awards.

The 2016 Medallion Club represents the top 10 per cent of the more than 13,500 members partici-pating on the MLS® in the region. The President’s Club represents the top one per cent.

The idea of a “multiple list-ing service” was born from the need to create an infrastructure through which Realtors could compete and cooperate at the same time. It’s variously been called a “listing exchange,” “cooperative listing service” and today’s “MLS®.”

The MLS® today is a sign of quality. Home listing information originating from the MLS® is the most reliable and compre-hensive source of real estate in-formation in Canada.

The Real Estate Board of Greater Vancouver is proud to also recognize one of its newest Life Member of the Medallion Club, Jeff Benna. Life membership is earned by Realtors who achieve Medallion Club status for 20 years. Jeff Benna earned Life Member status in 2016.

Congratulations to Jeff Benna on his FEA Designation

Wed, 24 Sep 2014 21:42:00 GMT

Only a FEA designation prepares you for the complexities of family enterprise. FEA designated advisors see the whole picture in dealing with business families because they understand the nuanced and complex issues that are uniques to family enterprise. Congratulations to Jeff Benna on his FEA Designation.

Introducing the 2011 Graduates of UBC's Advisor Program

Wed, 16 Nov 2011 14:43:00 GMT

The Business Families Centre is pleased to introduce the 2011 Vancouver and Toronto graduates of the Family Enterprise Advisor Program. These advisors have put themselves ahead of the competition by completing the program which now makes them eligible to pursue the Family Enterprise Advisor designation--an accreditation that readily identifies uniquely skilled and qualified advisors to Business Families.

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Childen draw a picture of their new home for me

Wed, 03 Nov 2010 13:55:00 GMT

Through the eyes of the children of a family I just sold a home too.

United Way Community Spirit

Mon, 03 May 2010 18:58:04 GMT

Quantum Leap Donors Award
Presented by British Columbia Transmission Corporation

Recipient: Small Organization: RE/MAX Real Estate Services

RE/MAX Real Estate Services certainly experienced a quantum leap in the number of donors participating in their United Way campaign growing from just four percent to 56% in 2009. The Philanthropists’ Circle gift matching opportunity proved to be a strong motivator encouraging many to become Leaders of the Way. These leaders alone raised $60,000.

www.uwlm.ca/default.htm