Suzanne Zanikos : Personal Real Estate Corporation : Archived blog posts for : 2018

Top 5 Home Staging Props

Posted on March 26, 2018 by Suzanne Zanikos

1. ORCHIDS & HIGH QUALITY FLORALS

Orchids are an incredibly versatile prop. They are beautiful, elegant and add class into any interior, regardless of the style of home. They will pair well with just about any room. You can add it into a bathroom for a spa-like feel, group it into containers for a grand entryway centerpiece, or make it the highlight of the dining room. Adding high quality florals can be the perfect way to decorate any space, and the variety of flower types and arrangements can blend into any decorating theme.

2. BOOKS

Books are wonderful space fillers and can introduce you to subtle pops of color into your living space. They can also be used as risers to add dimension to your room by propping other decorative pieces.

3. BOWLS, TRAYS, & VASES

Ceramic containers can really add a calming and organic effect into a decorative scene. They have a beautifully subtle, and can be the right touch to bring a room together. Using vases, trays, and bowls allow a lot of versatility. Vases can be used as a creative way to hold utensils in a kitchen and bowls can be used for small plants. The right container, paired with the right filler, can set the scene and create a warm and inviting space.

4. FILLERS

Fillers are the perfect couple to the types of containers noted above. Fillers can be wicker balls, moss balls, faux lemons or other fruits, limes, bread, lemons, flowers, and just about anything else you can think of. Fillers can bring in a lived-in look to any space, warming up what could otherwise feel like a bare room.

5. LIFESTYLE ELEMENTS

Having lifestyle elements in your home can really set the pace for the theme you want to incorporate. Lifestyle elements are things that breathe life into any room, and prevent it from feeling too staged. These can be things such as a teapot on a night stand, a bowl of fruit on a dining room table, little figurines on nightstands, books on a coffee table, etc. You can even add a breakfast tray on a set bed. Use lifestyle scenery sparingly so it doesn't come off too cheesy and over-done.

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VIDEO: February 2018 Housing Market Update

Posted on March 12, 2018 by Suzanne Zanikos

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Home Buyers Less Active in February 2018

Posted on March 2, 2018 by Suzanne Zanikos

March 2, 2018

Home buyers were less active in February

Metro Vancouver* home sales dipped below the long-term historical average in February.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,207 in February 2018, a nine per cent decrease from the 2,424 sales recorded in February 2017, and a 21.4 per cent increase compared to January 2018 when 1,818 homes sold.

Last month’s sales were 14.4 per cent below the 10-year February sales average. By property type, detached sales were down 39.4 per cent over the same period, attached sales were down 6.8 per cent, and apartment sales were 5.5 per cent above the 10-year February average.

“Rising interest rates and stricter mortgage requirements have reduced home buyers’ purchasing power, particularly for those at the entry level of our market,” Jill Oudil, REBGV president said. “Even still, the supply of apartment and townhome properties for sale today is unable to meet demand. On the other hand, our detached home market is beginning to enter buyers’ market territory.”

There were 4,223 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in February 2018. This represents a 15.2 per cent increase compared to the 3,666 homes listed in February 2017 and an 11.2 per cent increase compared to January 2018 when 3,796 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 7,822, a three per cent increase compared to February 2017 (7,594) and a 12.6 per cent increase compared to January 2018 (6,947).

“The spring is traditionally the busiest time for home buyers and sellers in our market. We’ll wait to see how they react to the taxes and other policy measures that our provincial and federal governments have introduced so far this year,” Oudil said. “To help you navigate these changes in today’s housing market, it’s important to work with your local REALTOR®.”

For all property types, the sales-to-active listings ratio for February 2018 is 28.2 per cent. By property type, the ratio is 13 per cent for detached homes, 37.6 per cent for townhomes, and 59.7 per cent for condominiums.

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,071,800. This represents a 16.9 per cent increase over February 2017 and a 1.4 per cent increase compared to January 2018.

Sales of detached properties in February 2018 reached 621, a 16.6 per cent decrease from the 745 detached sales recorded in February 2017. The benchmark price for detached properties is $1,602,000. This represents an 8.2 per cent increase from February 2017 and is virtually unchanged from January 2018.

Sales of apartment properties reached 1,185 in February 2018, a 7.1 per cent decrease compared to the 1,275 sales in February 2017. The benchmark price of an apartment property is $682,800. This represents a 27.2 per cent increase from February 2017 and a 2.6 per cent increase compared to January 2018.

Attached property sales in February 2018 totalled 401, a 0.7 per cent decrease compared to the 404 sales in February 2017. The benchmark price of an attached unit is $819,200. This represents an 18.1 per cent increase from February 2017 and a 1.9 per cent increase compared to January 2018.

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