Nov 23, 2017 | Homeowners
You don’t have to win the lottery to get wealthier. Anyone, on virtually any income, can simply adopt these habits:
1. Save a little from each paycheck. Tucking away just 5% of your income can build up your savings substantially over time.
2. Use coupons. 82% of consumer goods companies issue coupons, yet only 23% of shoppers use them. Coupons can cut a grocery bill by an average of 15%.
3. Avoid credit card debt. Interest rates on those are famously high and can cost you a lot of money each year.
4. Feast at home, not at restaurants. It’s fun to go out to a nice restaurant occasionally. Just don’t make it an expensive habit. Buy a gourmet packaged meal instead. Combine it with a bottle of wine and you have a feast!
5. Watch out for automatic renewals. It’s all too easy to forget to cancel a subscription to a magazine you no longer read — until, of course, you’re charged again!
These simple habits can help you become wealthier in 2018.
Nov 20, 2017 | Real Estate 101
Assuming that at each renewal, a homeowner’s mortgage would be less than it was in the previous term, homeowners can look forward to eventually improving their monthly cash flow. In addition to a smaller mortgage, some may also enjoy the benefit of additional home equity if the property’s market value has increased since it was first purchased. If these factors are working in your favour, it could be a good time to think about your options.
For example, you could consider increasing your monthly payments and shortening the amortization period for your remaining mortgage. Alternatively, you might consider up-sizing to a more accommodating home, or downsizing and benefiting from more affordable monthly costs (e.g. mortgage, condo fees, etc.) and fewer responsibilities. If you’re looking for financial opportunities, another option might be to examine the income-earning potential of a second property that could provide you with a stable monthly return on your investment.
If now is the time to consider how you may capitalize on your property’s potential, let’s meet to discuss the best options for you. We can start with a candid evaluation of today’s market and your property, and then consider the factors that might affect values in the short and long term.
Email Beth for more information
Nov 17, 2017 | Homeowners
Although homeowners are generally aware that there are real costs associated with their living space, they don’t always notice how much their clutter impacts their ability to use it. To make the most of your home’s potential, consider ways to create more storage room to keep items that are not in use out of the way.
For example, purge closets and drawers, one room at a time, and donate unused items to charity or sell them online or through a neighbourhood sale. Store out-of-season clothing items in sealable space-saving bags that collapse when attached to a vacuum hose. Consider items that would be considered mementos or keepsakes by others, and pass them along. Also, identify photos and documents that can be archived digitally and saved in the “cloud” or computer storage. Finally, consult with a home-renovation retailer or storage expert to examine in-closet system installations.
Nov 15, 2017 | Real Estate 101
Vancouver, BC – November 14, 2017. The British Columbia Real Estate Association (BCREA) reports that a total of 8,677 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in October, an increase of 19.3 per cent from the same period last year. Total sales dollar volume was $6.25 billion, up 41.6 per cent from October 2016. The average MLS® residential price in the province was $720,129, up 18.7 per cent from October 2016.
“BC home sales trended higher in October, up 23 per cent from January on a seasonally adjusted basis,” said Cameron Muir, BCREA Chief Economist.”A lack of supply in the resale market continues to put upward pressure on home prices in most BC regions.”
Total active listings were down 5.1 per cent to 27,987 units in October compared to the same month last year, and have declined 49 per cent over the last five years. The ratio of home sales to active listings was up from 24.7 per cent in October 2016 to 31 per cent last month. The BC housing market is considered to be in relative balance when the ratio of home sales to active listings is between 12 and 20 per cent.
Year to date, BC residential sales dollar volume was down 9.4 per cent to $63.8 billion, when compared with the same period in 2016. Residential unit sales declined 10.7 per cent to 90,290 units, while the average MLS® residential price increased 1.4 per cent to $706,881.
source: BCREA
