Hi everyone!

As I prepare this newsletter on a dreary, rainy day, I can't help but long for sunshine. Happy to report that the sun will be back soon according to the Weather Network -- just in time for Valentine's Day (indulge in a treat from one of Vancouver's best chocolatiers and boutique chocolate shops ) and for the Chinese Lunar New Year celebrations next week. Enjoy!

Real Estate Matters

Here's the January 2015 Housing Market Update from the REBGV. With low inventory levels & strong buyer demand, there's upward pressure on prices for detached homes.

While it may be a balanced market overall, there are hot areas with low inventory & high demand = bidding wars! Here are

some tips if you find yourself in a multiple offer situation

This 2015 infographic shares data and predictions from the Bank of Canada, CMHC, Stats Can, REBGV and others

Experts forecast slightly higher bond & mortgage rates and a cooling of the housing market over the next few years.

Affordability is always a hot topic. Here are three oft-overlooked reasons why Vancouver isn't that unaffordable. This recent CTV clip shares a similar perspective

The Globe and Mail has specific advice for first-time home buyers given current market conditions

Email Kathy

604 329 1405

Market Statistics for January 2015

SnapStats Reports are a great way to keep on top of what's happening in specific cities an neighbourhoods across the Lower Mainland each month:

- The Metro Vancouver report covers Vancouver, West Van, North Van & Richmond

- Burnaby, New West, Tri-Cities & Ridge Meadows, are in the Greater Vancouver report

- Fraser Valley report covers, you guessed it, Fraser Valley to Abbotsford/Mission

Check out the year over year changes in listings, sales, and prices for single-family and strata properties

Keep an eye on price trends! Yr over yr price gains for single family homes ranged from 3.6% on the Sunshine Coast to a high of 11.9% in East Van

To better understand house price trends, check out the statistics from the Greater Vancouver and Fraser Valley real estate boards. They report on Home Price Index changes by city & property type (similar to the CPI). You can also find copies of these reports on my website on the tab How's the Market?

Market in Action

Craving a 'million' dollar view? To give you an idea, below are listings for view homes across the Lower Mainland with a million dollar price tag. If you need any more details, just ask! CLICK ON THE PHOTOS TO SEE ADDITIONAL PICTURES.

Belcarra Port Moody	Metrotown Burnaby	White Rock

Get back to nature with this 6000 sf home on a private 1 acre lot. Appraised at $1.14M List $968K	Two bedroom, 1000 sft condo with a great view of Mount Baker List $998K	Sweeping ocean & island views from this 5 bdrm, 3600 sf home built in 1996 List $1.1M

Mount Pleasant Van East	Central Lonsdale North Van	Dundarave West Van

City views all around in this renovated 1400sf 2 bdrm False Creek condo. List $999K	Built 1926, reno's include addition and new kitchen. 3300 sf on 7000 sf lot List $1.06M	SE water views from this 2 bdrm 1086 sf condo, close to all Dundarave offers! List $958K

Closing Thoughts

With spring approaching, many home owners embark on renovation projects large and small. The BC Home and Garden Show runs Feb 18-22 - will I see you there? Always a great source of ideas and inspiration!

As mentioned earlier, single-family homes in some neighbourhoods are a hot commodity! If you're wondering if this spring is the time to list your home, let me know and we can review recent sales in your neighbourhood. Knowledge is power and puts you in the driver's seat. Always happy to help out!

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