This blog on investing is courtesy of Danny Duong who is an excellent mortgage broker. Danny offers some thoughts on investing in real estate. Give Danny a call at 778-998-7142 for your mortgage needs. I would be happy to answer any or all your real estate questions in this regard.
Have you thought about building wealth and passive income through real estate? The following are factors that make purchasing a rental property an attractive investment now:
Well, the Spring market is bustling. In fact, Spring came early to our real estate market. I have lived through many a busy real estate market since 1988, which even back then was fast and furious, but this current market has beaten every previous market record. For those fortunate enough to remain working, and with the record breaking interest rates, this pandemic has made people spend their spare time house hunting. Perhaps it is the fact that many families have had more time at home that they have decided it is time to look for a new one; a “change of scenery” to accommodate the life style of this past year, that may remain with us after this pandemic.
The real estate market is currently experiencing the highest sales level never seen before in the last 100 years of the Fraser Valley for the 6th month in a row.
Chris Shields, President of the Fraser Valley Real Estate Board viewpoint of this month’s record numbers, “This is new territory for us. We have never seen such consistent and persistent demand for housing in the Fraser Valley.
You may have recently received your 2020 property BC tax assessment in the mail in the start of this new year (2021). Typically, these assessments reflect the values they determined back in July. There is a lot of confusion whether assessment values reflect current market values. Part of my service as a realtor, is to help my clients stay up to date with their home and market conditions. Should you wish to discuss your recent tax assessments in the mail, please do not hesitate to pick up the phone and call me to discuss. In the meantime, here are some interesting facts about how tax assessments are determined.
(Quoted from BC Assessment site)
In Real Estate terms, 2020 went out with bang. Sales were higher than average in 10 years in the Fraser Valley! Despite the global pandemic, it’s apparent that those who can still transact in Real Estate will. Motivating factors for a move don’t seem to go away for those who are fortunate enough to still have the resources. From my personal point of view, the type of Real Estate consumer really hasn’t changed much from the pre Covid-19 days.
It is tough to predict how Covid-19 will impact business in the next six months. Yet currently, it seems to be “business as usual” for me, “usual” being a relative term. I currently maintain listings but how Covid-19 impacts the Real Estate business here in British Columbia is dependent on the same factors it will affect everyone around the world. As it is, I am grateful for the technology such as secure e-signing and video conferencing, 21st-century conveniences that were unimaginable when I started that now help to mitigate the risks of spreading the virus. Until things are better, Realtors® will continue to follow our board’s mandated health protocols that are in place: masking, limited essential viewers, social distancing, cleaning before & after showings and... NO ON-SITES OPEN HOUSES! The BCREA and Fraser Valley Board has mandated no open houses and strict rules to view properties, including limiting people visiting a property to view. Appraisals and inspections are often done remotely or with very limited numbers of people allowed present in a property.
The HomeLife sponsored Canuck Place Children’s Place 50/50 Jackpot is currently at $159,000, winner takes half… of that, over $1600 has come through our designated HomeLife link. Way to go! Please continue to use https://canuckplace.rafflenexus.com/a/homelife in order to track our direct sales.