The RE/MAX Quest for Excellence scholarship

Posted on February 5, 2023 by Jessica Prasad

The RE/MAX Quest for Excellence scholarship program is a great opportunity to reach out to your clients and local high schools to help spread the word. Participants must be a Grade 12 student attending high school in the 2022/2023 academic year, who have not previously participated in graduation commencement ceremonies in the past. Eligible students are invited to write and submit an online essay* up to 1,250 words in length, answering one of the following questions: What does a “bright future” look like for you? How have you demonstrated leadership or charity within your community to make it a better place? How can we ensure fair and affordable housing for all Canadians? To apply, students are to submit their essay online: https://rem.ax/2023_QE_Entry_Form DEADLINE TO APPLY: MARCH 13, 2023 #ilovehomes ❤️ @jessicarealty

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Home sales decline below long-term averages and inventory remains low to start 2023

Posted on February 3, 2023 by Jessica Prasad

Home sales decline below long-term averages and inventory remains low to start 2023

Inventory remains low in Metro Vancouver* while home sales dipped well below monthly historical averages in January.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,022 in January 2023, a 55.3 per cent decrease from the 2,285 sales recorded in January 2022, and a 21.1 per cent decrease from the 1,295 homes sold in December 2022.

Last month’s sales were 42.9 per cent below the 10-year January sales average.

#Housing #Market #cooloff #realestate

Call me for a current update on what’s happing in your housing market! When is a good time to buy or sell?

#ilovehomes for more details about this current housing market please call me
778-241-8946
@jessicarealty
#vancouver #buyahouse #sellahouse #remax #realtornearme

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The mortgage rate affects the Vancouver real estate market

Posted on January 30, 2023 by Jessica Prasad

The mortgage rate affects the Vancouver real estate market by determining the cost of borrowing for home buyers.

In the past when mortgage rates were low, it made borrowing money to purchase a home more affordable, leading to an increase in demand for housing, and potentially driving up home prices!

Currently the mortgage rates are high, it becomes more expensive to borrow money, leading to a decrease in demand and causing home prices to decrease.

The relationship between mortgage rates and the real estate market is complex, and other factors such as economic conditions, housing supply and demand, and government policies also play a role.

Low housing supply in Vancouver is driving up home prices due to increased competition among buyers for limited inventory. When there are fewer homes available for sale, buyers may have to bid higher prices to secure a property, which can lead to an overall increase in home prices.

The low housing supply can also result in a slower pace of sales, as there may not be enough homes available to meet demand.

The shortage of housing supply can be caused by various factors, including limited land availability, zoning restrictions, a slow pace of new construction, and a strong demand for housing.

Call me for a current update on what’s happing in your housing market! When is a good time to buy or sell?

Jessica Prasad 778-241-8946

@jessiacrealty #ilovehomes ❤️#vancouver #buyahouse #sellahouse #remax #realtornearme #vancouverhomes #multipleoffers #sold

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Low inventory in the real estate market

Posted on January 25, 2023 by Jessica Prasad

Low inventory in the real estate market can lead to higher prices and more competition among buyers.

In a market with low inventory, there are fewer homes available for purchase, which can drive up demand and prices. This can make it more difficult for buyers to find a suitable home at a price they can afford.

Additionally, in a market with low inventory, buyers may have to act quickly to make an offer on a home they are interested in, as they may face competition from other buyers.

Overall, low inventory can make the real estate market more challenging for buyers and can benefit sellers who are looking to sell their home at a higher price.

Call me to find out about a strategy for selling your home.

Jessica Prasad 778-241-8946

@jessicarealty #ilovehomes ❤️#vancouver #buyahouse #sellahouse #remax #realtornearme

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Should I buy in a down real estate market?

Posted on January 24, 2023 by Jessica Prasad

Whether you should buy in a down real estate market depends on your personal financial situation and investment goals.

Historically, buying property during a market downturn can be a good opportunity to purchase at a lower price, but it also comes with increased risk.

It is important to consider factors such as your ability to hold onto the property for the long term and the potential for appreciation in the future.

It is highly recommended that you consult with a real estate professional like me Jessica Prasad and financial advisor before making any real estate investment decisions.

Please call me about your 2023 real estate goals 778-241-8946

@jessiacrealty #ilovehomes ❤️#vancouver #buyahouse #remax #realestategoals #realtornearme

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Rising mortgage rates brought uncertainty and caution in 2022

Posted on January 10, 2023 by Jessica Prasad

Rising mortgage rates brought uncertainty and caution in 2022

After seeing record sales and prices during the pandemic, Metro Vancouver’s* housing market experienced a year of caution in 2022 due to rising borrowing costs fueled by the Bank of Canada’s ongoing battle with inflation.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 28,903 in 2022, a 34.3 per cent decrease from the 43,999 sales recorded in 2021, and a 6.6 per cent decrease from the 30,944 homes sold in 2020.

Last year’s sales total was 13.4 per cent below the 10-year sales average.

Last month’s sales were 37.7 per cent below the 10-year December sales average.

There were 1,206 detached, attached and apartment properties newly listed for sale on the MLS® in Metro Vancouver in December 2022. This represents a 38 per cent decrease compared to the 1,945 homes listed in December 2021 and a 60.5 per cent decrease compared to November 2022 when 3,055 homes were listed.

For all property types, the sales-to-active listings ratio for December 2022 is 17.5 per cent. By property type, the ratio is 12.3 per cent for detached homes, 19.5 per cent for townhomes, and 21.7 per cent for apartments.

#Housing #Market #cooloff #realestate

Call me for a current update on what’s happing in your housing market! When is a good time to buy or sell?

#ilovehomes

for more details about this current housing market please call me
778-241-8946
@jessicarealty
#vancouver #buyahouse #sellahouse #remax #realtornearme

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Just Chill - August Housing Market Report

Posted on September 6, 2022 by Jessica Prasad

#Housing #Market #cooloff … we’ll we’re cold now!

Metro Vancouver’s housing market sees fewer home buyers and sellers in August!

Metro Vancouver’s housing market is experiencing a quieter summer season marked by reduced sale and listing activity.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,870 in August 2022, a 40.7 per cent decrease from the 3,152 sales recorded in August 2021, and a 0.9 per cent decrease from the 1,887 homes sold in July 2022.

Last month’s sales were 29.2 per cent below the 10-year August sales average.

"With inflationary pressure and interest rates on the rise, home buyer and seller activity shifted below our long-term seasonal averages this summer. This shift in market conditions caused prices to edge down over the past four months."

Andrew Lis, REBGV Director, economics and data analytics

There were 3,328 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in August 2022. This represents a 17.5 per cent decrease compared to the 4,032 homes listed in August 2021 and a 16 per cent decrease compared to July 2022 when 3,960 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 9,662, a 7.3 per cent increase compared to August 2021 (9,005) and a 6.1 per cent decrease compared to July 2022 (10,288).

“Home buyers and sellers are taking more time to assess what this changing landscape means for their housing needs,” Lis said. “Preparation is critical in today’s market. Work with your Realtor to assess what today’s home prices, financing options, and other considerations mean for you.”

For all property types, the sales-to-active listings ratio for August 2022 is 19.4 per cent. By property type, the ratio is 12.2 per cent for detached homes, 25.3 per cent for townhomes, and 24.8 per cent for apartments.

Full Report Link: https://www.rebgv.org/content/rebgv-org/market-watch/monthly-market-report.html

Call me for a current update on what’s happing in your housing market! When is a good time to buy or sell?

#ilovehomes for more details about this current housing market please call me 778-241-8946
@jessicarealty
#vancouver #buyahouse #sellahouse #remax #realtornearme

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PNE Summer Night Concerts

Posted on August 5, 2022 by Jessica Prasad

LOOKING FOR SOMETHING FUN TO DO THIS SUMMER?

PNE Summer Night Concerts

Every evening during the Fair, Summer Night Concerts on the GMC Stage fill the PNE Amphitheatre with sweet sounds!

The PNE is returning this summer with a jam-packed schedule of fun from August 20 to September 5, and music fans in Vancouver will definitely want to visit this year.

PNE Fair 2022 Concerts Lineup

Saturday, August 20 – The B-52s Farewell Tour
Sunday, August 21 – Blue Rodeo
Tuesday, August 23 – Barenaked Ladies with Special Guest Kim Mitchell
Wednesday, August 24 – Cake
Thursday, August 25 – Vancouver Symphony Orchestra: A Tribute to the Beatles
Friday, August 26 – Stars of Drag. “A night of True Colours”
Saturday, August 27 – Gipsy Kings Feat. Nicolas Reyes
Sunday, August 28 – Chicago
Tuesday, August 30 – Steve Miller Band
Wednesday, August 31 – TLC & Shaggy
Thursday, September 1 – Brothers Osborne
Friday, September 2 – Nelly
Saturday, September 3 – BACHMAN CUMMINGS
Sunday, September 4 – The Beach Boys – Sixty Years of the Sounds of Summer
Monday, September 5 – Chaka Khan & Patti LaBelle

Get tickets https://www.ticketleader.ca/events/detail/summer-night-concerts-2022

#ilovehomes

@jessicarealty

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Happy Labour Day!

Posted on September 6, 2021 by Jessica Prasad

Happy Labour Day! Thank you to everyone that is passionate about their jobs and careers. Everyone plays an important role in contributing to society and our community to make us happy every single say day. ❤️ #happylaborday #lovemyjob #lovemycareer #ilovehomes

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Win this $2.9 million Dream Home package

Posted on August 13, 2021 by Jessica Prasad

Win this $2.9 million Dream Home package and support children’s hospital charity. Early buyers win more! Get your tickets to win over 3,000 prizes! #ilovehomes ❤️

https://bcchildren.com/?fbclid=IwAR31SKwtxs5FV3IEtVbQ7PgbD4Y6BXPqRx_PoN_qdonH8JFrE6fxdCcTtJE_aem_AQ4ySrWAxuSzTSavjANJiAheSm9dVvQLVRgTj8JeVOlPa4khqeolkLFVF2PLeFnlXNxdRPI1WMk9M1_3rwdF6DRYlo-YNgT3tLOd6bcqbi53nrDd4ii7QZUVKiDb1T2CN3Q

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