“Cooling Off Period” in BC Real Estate

New legislation is being proposed in British Columbia in an effort to protect buyers by allowing them to back out of an offer with little to no legal consequences.

Denny and Monica break down what the “cooling off period” is and discuss openly how they see it impacting buyers and sellers.

This episode will focus on the different processes of buying new construction versus resale properties, the impact of working with a trusted realtor in this industry, the importance of due diligence with subject-free offers, and the possibility of deception and fraud increasing in real estate with this new legislature.

Watch and listen to the Garbutt+Dumas Real Estate Podcast below and follow us on Spotify, iTunes & YouTube.

Property Redevelopment in the City of Vancouver with Vinny Dumas

Many builders face challenges and setbacks when trying to redevelop residential properties in the city of Vancouver.

Vinny Dumas from Sage Construction joins James and Denny on the podcast to provide an update on where the city stands in regards to permits, zoning, and redevelopment.

This episode will focus on the biggest challenges a homeowner may face when trying to redevelop, the different types of professionals needed for permit approval, the various factors that can affect the project timeline, the increasing acceptance of having multiple units on one lot, and the future of gas and electricity in the home.

Watch and listen to the Garbutt+Dumas Real Estate Podcast below and follow us on Spotify, iTunes & YouTube.

Building a Custom Home in Greater Vancouver with Vinny Dumas

The process of building a home can be a demanding and challenging task without the assistance of a knowledgeable team.

James and Denny invite Sage Construction partner Vinny Dumas onto the podcast to discuss his experience building custom homes in the greater Vancouver area.

This episode will focus on the influencing factor that location plays in determining project costs, the long-lasting effect of supply chain issues, the most common types of building mistakes made in the industry, and what to expect when dealing with cheaper trends and the benefits of high quality work long-term.

Watch and listen to the Garbutt+Dumas Real Estate Podcast below and follow us on Spotify, iTunes & YouTube.

Memorable Moments in G+D History

As we move forward in our careers, it can be easy to forget about the many experiences and learning opportunities that we have encountered over the years.

James and Denny reflect on memorable moments throughout their real estate careers and discuss the creation and growth of G+D.

This episode will focus on the early days when James and Denny first became partners, the importance of customer service and going the extra mile for a client, updating technology and changing strategies, important milestones for G+D, and the power of working with a great team.

Watch and listen to the Garbutt+Dumas Real Estate Podcast below and follow us on Spotify, iTunes & YouTube.

Evaluating Properties in this Hot Greater Vancouver Market

With current market trends and increasing listing prices, it has become almost impossible to know a home’s sale price with complete certainty.

James and Denny share how buyers and sellers can best evaluate properties in this “moving target” type of real estate market.

This episode will focus on how to find comparable properties to base a listing price on, setting realistic expectations for multiple offer situations, knowing what type of products you can still find deals on, and understanding how quickly sale prices within a neighborhood can increase with each sale setting a precedent for the next one.

Watch and listen to the Garbutt+Dumas Real Estate Podcast below and follow us on Spotify, iTunes & YouTube.

Home Listing Strategies for this Fall

As the days get shorter and the weather much cooler, home listing strategies have to adjust to get the most out of a home this time of year.

James and Denny go over their fall listing strategies and share all the things that can make or break a sale.

This episode will focus on listing strategies for the fall, why now might be a good time to sell, how to get the most out of listing photos, the impact weather can have, and predictions for the fall and spring.

Watch and listen to the Garbutt+Dumas Real Estate Podcast below and follow us on Spotify, iTunes & YouTube.

NOTES FROM THE EPISODE:

It is important to consider the time of year when determining a listing strategy for selling your home. Currently, it is the fourth quarter of 2021, and the strategies that sellers are using now may differ from the strategies that sellers will implement in early 2022.

Who is selling in the fall, and why did they decide to list now?

  • The seller has already bought something else and wants to move
    • Many homeowners may buy a property before selling their current home when the market is climbing and the demand is higher than the supply. Check out our podcast episode The Important Decision of Buying or Selling First to learn more about this topic.
  • They are an opportunistic seller and are choosing to list now when there are not many other options for buyers to choose from
    • We are currently seeing all-time peak pricing, which can act as a motivator for homeowners who have been thinking of downsizing for some time
    • The seller may be looking to relocate or rent
    • This property may be an investment property that the seller does not want to manage anymore or a property that they are willing to sell at a high price for a profit

Fall Home Listing Strategies:

Timing is key

A homeowner needs to move quickly when selling their home if they are looking to list in the fall. Do not spend too much time worrying about the little things (for example, changing the carpet or baseboards, painting, landscaping). Take photos and list as soon as possible. For townhouses and condos, make sure that you have all the necessary strata documents.

Be aware of when you are showing the property

In most circumstances, showings are best when it is light out. In the fall, buyers may not see the property with natural light during evening appointments. Furthermore, if the weather is poor, buyers may not see a condo’s view, which could be a key selling feature.

Limited supply means more buyers are looking at your home

Right now, there is very little supply available. Keep in mind that your listing could be very attractive compared to other available properties, leading to a higher offer. This point increases the urgency to list the property as soon as possible before the market changes. 

December is coming

We rarely suggest listing in December unless you have to. Many people do not want to move or focus on the selling and buying process around Christmas time. January and February tend to be a better alternative for most homeowners trying to sell.

Home Listing Strategies are different in fall than in January or February

James and Denny stress that Realtors would be having a very different conversation with homeowners looking to sell in January or February than at the end of the current year. 

At the beginning of the year, Realtors have more flexibility to make adjustments to find what is best for the sellers and the listing. There would be more time to experiment with a listing strategy, create a strong marketing plan, and take the best photos possible during ideal weather conditions. The Realtors can also post teasers to generate buyer interest on social media before the actual listing is available. Showing appointments can be planned around poor weather and during the daytime to offer the best first impression.

Moreover, homeowners have a better opportunity to carry out maintenance and minor renovations to increase a buyer’s offer. Landscaping, power washing the exterior, updating flooring, and a fresh coat of paint on the walls can make a big difference in a home’s overall appeal.

At the end of the year, the home listing strategy changes drastically. The main focus is how quickly the listing can be posted so that interested buyers can see it. Having a Realtor who is up-to-date on current trends in the market is key to having a successful sale during this time.

Are you thinking of listing your home this fall?

So far, this fall has been a seller’s market, but it can change quickly! As James and Denny say, it is not easy to predict what will happen next. It is important to talk to a Realtor who understands the market and provides the best information for your specific situation. Contact our team to find out how we can help you with all of your real estate needs!

Detached Home Update for Port Moody and the Tri-City Areas

As the demand for detached homes in BC increases, many families are looking for guidance as to where they should be looking and how much they should expect to pay.

James and Monica break down what you can expect to find when looking for a single-family home in some of their favorite communities throughout Port Moody and the Tri-Cities.

This episode will focus on the limited availability of detached homes, the low and high-end price points throughout these popular areas, tips on where to find a bigger return for your investment, and the types of single-family home communities that Port Moody, Coquitlam, and Maple Ridge offer.

Watch and listen to the Garbutt+Dumas Real Estate Podcast below and follow us on SpotifyiTunes & YouTube.

The Guide to Townhomes in Port Moody and Surrounding Neighborhoods

Townhomes are an ideal option for young families looking for more space, as well as downsizers looking for a smaller property to take care of.

Monica joins James on the podcast to discuss the increase in interest and the rise in price for townhomes found in Port Moody, Pitt Meadows, Coquitlam, and the surrounding cities.

This episode will focus on the importance of a city promoting development, popular townhouses in the Klahanie, Heritage Mountain, and Osprey Village communities, significant developments on Burke Mountain, side-by-side townhouses being a more desired option, and low supply and high demand continuing to increase sale prices.

Watch and listen to the Garbutt+Dumas Real Estate Podcast below and follow us on SpotifyiTunes & YouTube.

What You Need to Know about The Federal Election and Housing

With a large focus on housing in the 2021 federal election, many Canadians are interested to hear what the parties have in store to help solve the housing issues across the country.

James and Denny break down what the Liberal, Conservative, NDP, and Green parties have promised in their campaigns for the real estate market in BC.

This episode will focus on the importance of accelerating construction to encourage development, the parties offering a consistent message of affordable housing, their plans to reduce homelessness and increase home availability, and the strategies they have in place to assist first-time homebuyers.

Watch and listen to the Garbutt+Dumas Real Estate Podcast below and follow us on SpotifyiTunes & YouTube.

Market Update: What to Expect in Fall 2021

As summer comes to an end and temperatures start to drop, the real estate market looks to be heating up again!

James and Denny break down what buyers and sellers should expect over the upcoming months as demand starts to increase in this under-supplied market.

This episode will focus on rising sale prices, the continuation of bidding wars, townhouses in high demand, an increase in condo activity after a slow season, zoning problems causing a lack of development, and supply chain issues influencing the high cost of construction.

Watch and listen to the Garbutt+Dumas Real Estate Podcast below and follow us on SpotifyiTunes & YouTube.