BURNABY / NEW WESTMINSTER Apr 3, 2015 Real Estate Weekly

R E A L E S T A T E W E E K L Y

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A common topic among real estate buyers is whether or not they should off er a price

that is much lower than the listed price. It’s an interesting concept, but one that is not without its pitfalls. Submitting an off er is one thing, but getting the off er accept-ed is another thing altogether. Let’s take a look at three diff erent factors to consider.

1) Be Certain You Fully Understand Market Conditions

In a market like Vancouver and

the Lower Mainland we are often

faced with an inevitable real-

ity – people really like living here.

Sellers are more than aware of

this, and are primed to take full

advantage.

Having a look at comparable

properties in the area that have

sold going back as far as two years

(or further) will give you a good

understanding of what the seller is

expecting. Maybe they’ve already

priced it low to encourage multiple

off ers or a quick sale? If that’s the

case, it’s likely they won’t even

submit a counter off er.

As real estate agents we are

very much held to account by what

the market will bear, and buyers

and sellers are not immune to this

either.

2) Make Sure You Are Willing To Negotiate

Starting will a low off er could be

considered disrespectful or a bul-

lying tactic. If that’s the case, why

not submit another off er slightly

higher if you don’t hear back from

the seller? If the goal is to get the

ball rolling on negotiations, being

fl exible can enhance the likelihood

of this occurring.

The #1 rule of real estate is to

not take things personally, so if

you plan of submitting an off er

that is substantially lower than the

listed price, make sure you off er

the seller something in return.

3) Your Offer Should Be As Clean As Clean Can Be

If price is your primary concern,

then the other subjects in the off er

should be valuable to the seller.

Is off ering a quick possession of

value? You never truly know some-

one’s motivation for selling – for

all you know this money could

be keeping a business afl oat or

needed to bail a family member out

of fi nancial trouble.

There is one thing that is con-

stant throughout the world, and

that is money makes it go round.

And cash is king! Use any superla-

tive you want, but quick money

can off er be a great thing to off er

a seller. Excluding the fi nancing

clause and off ering a large deposit

will let the other party know you

are serious and able to act quickly.

As a real estate agent in

Vancouver I personally prefer to

avoid lowball off ers, but a lot of

agents who work with investors are

more comfortable with this strat-

egy. It’s not my preferred way of

doing business, but at the end of

the day it’s always ultimately my

client’s decision whether or not

they want to submit or accept an

off er that is substantially lower

than the listed price.

More real estate advice from local Realtor Barry Magee at his website livinginvancity.com

Is Lowball Offeringa Legitimate Buying Strategy?

BURNABY NEW WESTMINSTER FRIDAY, APRIL 3, [email protected] • 604-435-7977

Looking to BUY or SELL a home? To assist you in making the best decisions,

a professional Realtor can provide the most

up to date information on the real estate

market, price, fi nancing and comparative

properties in your area.

Find your EXPERT Real Estate professional right here in REW.ca!

•2 REW.ca » BURNABY / NEW WESTMINSTER » FRIDAY APRIL 3, 2015

604-263-8800(24 HOURS)

ROCK SOLID PERFORMANCEwebsite: www.prudentialunitedrealty.com

email: [email protected] Realty

#201-2107 West 40th Ave., Vancouver, B.C. V6M 1W4 - Prudential United Realty - K742B - 4567 Lougheed Highway (Brentwood Mall) Burnaby, B.C.

Congratulations!Prudential United Realty congratulates all our top producers on their outstanding performance for 2014.

We are proud to recognize the work ethic and dedication that you have all shown to your profession; it is appreciated by your clients and fellow realtors. Keep up the good work.

Honour Society

Brad Nelson Vivienne Scudder Katerina Tarbouskas

Giselle Wong Eva YuLifestime Medallion Club Member

Francis Futama Gordon Legg Fred Wallace Paula Baverstock Michael Bertrand Edward Chiu

Chairman’s Circle-Gold

Nick ParentePrudential Legend 10 Years

Lifetime Medallion Club Member

Reg PerryDiamond Master Medallion

Club Member

President's Circle

William WatMaster Medallion Club Member

Hans GustMaster Medallion Club Member

Susan NinowPrudential Legend 5 Years

Leading Edge Society

Linda Fong Kenny Jason Fan Ross O'BrienGold Master Medallion Club Member

John Gust

REW.ca » BURNABY / NEW WESTMINSTER » FRIDAY APRIL 3, 2015 3•

Managing Broker: Derek DrewOffice Manager: Poonam GillAN INDEPENDENT MEMBER BROKER

Sutton - Centre Realty 3010 Boundary Road, Burnaby, B.C. V5M 4A1

Office: 604-435-9477 website: www.suttoncentrerealty.com

Most Homes SOLD In Burnaby For 2014** ** according to 2014 MLS statistics for single offices in Burnaby

centre realty Congratulates

Our Medallion Winners for 2014Congratulates

Our Medallion Winners for 2014centre realty

Joe BhangoTeam Member - 2 years

Darshan BrarLife Member

Simon CheungTeam Member - 1 year

Wayne ChowTeam Member - 1 year

Leonardo DiFrancescoLife Member

Vince D'OvidioLife Member

Pedro GomesTeam Member - 1 year

Angela H. HuangTeam Member - 1 year

Raymond HuiIndividual - 18 years

Brian KimIndividual - 7 years

Tino KuoTeam Member - 1 year

Wallis (Wan-Yu) LeeIndividual - 1 year

Spomenka NikicIndividual - 10 years

Gino PezzaniIndividual - 3 years

Ken PhoTeam Member - 2 years

Ryan A. RunteTeam Member - 4 years

Alan T. TsaiTeam Member - 5 years

Ralph P. TsaiTeam Member - 1 year

Randall N. LyTeam Member - 1 year

Timothy LyTeam Member - 1 year

Carlo MeloIndividual - 13 years

Frederick MoyIndividual - 24 years

Nadia NaderiIndividual - 1 year

Michael LiuIndividual - 1 year

Neha UnadkatTeam Member - 2 years

Brian VidasIndividual - 6 years

Andy P. WongLife Member

Eddie T. YanIndividual - 15 years

Alec ZhangIndividual - 5 years


JASON SOPROVICHEXCELLENCE IN THE LUXURY HOME MARKET

604.817.8812

soprovich.com

Magnifi cent Heritage Residence in Buckingham HeightsOriginated in 1892, the ‘Wintemute House’ is Burnaby’s most historical residence offering a one-of-a-kind tranquil setting complete with magnifi cent grounds, stone walls, lush landscaping, Porte Cochere and 5-car garage. This magnifi cent heritage residence is situated on a large 1/3-acre property in the heart of Burnaby’s most sought after and prestigious ‘Buckingham Heights’neighbourhood. Featuring complete privacy and approximately 5,000 sq. ft. on three sprawling levels, the home offers impeccablequality and fi nishings of yesteryear and has been meticulously maintained with the utmost of care and attention to detail. The bright open fl oorplan features 5 spacious bedrooms upstairs including a sensational master with sitting area, four gleaming bathrooms, spacious living and dining rooms with roaring fi replace, high ceilings with crown mouldings, a wonderful kitchen and eating area, a cozy family/games room with custom woodwork and ceiling detail, a private study with signature fi replace, mullion-paned heritage windows, miles of wainscoting, an elegant formal entrance and rich hardwood fl ooring – all opening through French doors to a gorgeous sunfi lled wrap-around veranda. Additionally, the home offers a crescent driveway, full basement, ample storage and sizeable attic that can be used as an extra guest bedroom or playroom for kids. Minutes to all local amenities includingMalvern, Braemar and Buckingham Parks. This exclusive estate can be yours today! PLEASE NOTE - The home is designated under the Heritage Act with The District of Burnaby and requires City approval before any exterior renovations or demolition is executed.

7640 Berkley Street, Burnaby Offered at $2,198,000

PETER JENSEN604.813.44909090

OPEN SAT APRIL 4, 1:30-3:30 PM7790 Nelson Avenue

FIRST OPEN!!! FIRST OPEN!!! JUST LISTED!!! Delightful character home minutes from Metrotown, rapid transit and all amenities. 2214 sqft on 3 levels. 2 full bath-rooms. 3 bedroom and den. Very solid. Upgrades include oak fl oors, oak kitchen cabinets, newer fl ooring on the main. Beautiful 260 sqft deck and Gazebo off the kitchen. Downstairs has just been redone with new carpets, fl ooring and paint. Nice updates with great SUITE POTENTIAL. (Possible future income if needed). 4599 sqft lot 2014 taxes $4227.52. This home is a must see. This is a great home just waiting for the right family. GO TO http://my-listing.ca/NelsonAve7790.html FOR FLOOR PLAN AND PICTURES.

Asking $899,000

OPEN HOUSEOPEN HOUSE

LORIPETTIGREW

www.YourRealtyDreams.com

604-649-7040

DEXTER ASSOCIATES REALTY

ALANYASIN

QUIET 2 BEDROOM & DENSFU VIEW HOME! Unique 2 bed & den has 2

large balconies with views of mountains and trees. Shows like new with granite counter tops, s/s kitchen appliances. Versatile open layout. Solid concrete building. Gym. 1 parking. Close to SFU, transit & amentities. Call to view this amazing home!

#607-9232 UNIVERSITY CRES.

www.dexterrealty.com

604-689-8226 Yaletown

604-336-3539 Main Street

604-263-1144 KerrisdaleTaking our

Listings Global

4536 NEVILLE ST. $1,878,000

LUXURY CUSTOM HOMEBeautiful custom home, built by experienced local builder, located in Burnaby South, right below Metrotown with gorgeous Southern view. Amazing fi nishings and top quality workmanship throughout the house. Top-of-the-line appliances; Sub-zero refrigerator, Wolf 6-burner stove, Miele dishwasher.Go Team 604-263-1144

JUST LISTED! $299,000

UPDATED 2 BEDROOM, 2 BATHROOM CONDO

UPDATED 2 bedroom, 2 bathroom condo with NEW stainless steel appliances and counter tops in Kitchen & bathrooms, in beautiful West Coquitlam. 10 minute walk to skytrain and Lougheed Mall and nearby Vancouver Golf Club, close to all major amenities, shopping, schools & S.F.U. Perfect for the fi rst time home buyer or for those looking to downsize. MUST SEE TO APPRECIATE. SHOWS LIKE NEW! #201 - 558 ROCHESTER AVE.Simmy Sandhu 604-897-5880

$335,800

BEAUTIFUL 2 BEDROOM SUITEBeautiful south facing private 2 bedroom suite facing green belt at Cascade Village. Large patio great for outdoor entertaining, tiled entry, fi re-place and French doors on second bedroom. Excellent recreation facility and outdoor gardens. Quiet, peaceful neighborhood. 107-3950 LINWOOD ST.Harj Romi Rai 604-689-8226

507-215 TWELFTH ST $245,000

TOP FLOOR OASIS

Discovery Reach by Bosa. Top fl oor unit with lots of updates. N.W. facing, open concept, parking, storage and more!

The Go Team

604-263-144

101-215 TWELFTH ST $229,000

GARDEN OASISS.W. facing garden level one bedroom in Discovery Reach by BOSA. Direct street access with private, fenced patio. 2 pets al-lowed.

Go Team604-263-1144

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115-3770 Manor Street

Cascade West! Immaculate 1-bdrm suite, above ground level. Large private patio on quiet side of building. Beautiful updates: hardwood floors, complete bathroom reno, kitchen floor, new fridge, d/w, garb, faucet. Well maintained build-ing. By appointment only.

Don’t miss this opportunity!

$257,800S

OLD

SO

LD

To assist you in making the best decisions, a professional Realtor can provide the most up to date information on the real estate market, price, fi nancing and comparative properties in your area.

Find your expert Real Estate professional right here in REW.ca!

LOOKING TO BUY OR SELL A HOME?


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48 Sales so far in 2015!

OUTSTANDING AGENT ... OUTSTANDING RESULTS

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OPPORTUNITY to own this FULL-DAY CHILDCARE CENTRE business & property in the most DESIRABLE LOCATION in PORT COQUITLAM. This 1997 built 5329 sq ̓ LIVE/WORK 3-LEVEL FAMILY HOME/SCHOOL includes 1639 sqʼ+/- upstairs living quarters & a SUCCESSFUL PRE-SCHOOL & BEFORE/AFTER SCHOOL care programs business is on a 5635 sq ̓ CORNER PROPERTY. Run your childcare business, PAY YOUR OWN MORTGAGE INSTEAD OF RENT! Westburn Realty (604) 889-8001

Central Burnaby 1/2 Duplex5189 Manor Street • $788,000

Spacious family home 5 bdrms, 2 kitchens, 31/2 bathrooms...approx. 2000 s/f on two levels.Like NEW...8 yrs old. Liv/din Rm, Large kitchen. 2 bdrm revenue help-er. View of Northshore Mtns from balcony. Separate garage. Interior newly painted. Minutes to BCIT, SFU, Brentwood Mall and Metro Town.

OPEN Sunday 2-4


• 308 SALES AWARDS SINCE 1984 • REBGV LIFE MEMBER WESTCOAST

[email protected]

www. .com

48 Sales so far in 2015!

OUTSTANDING AGENT ... OUTSTANDING RESULTS

CHILDCARE CENTRE + PROPERTY$1,168,000 OWNER RETIRING! RARE GOLDEN

OPPORTUNITY to own this FULL-DAY CHILDCARE CENTRE business & property in the most DESIRABLE LOCATION in PORT COQUITLAM. This 1997 built 5329 sq ̓ LIVE/WORK 3-LEVEL FAMILY HOME/SCHOOL includes 1639 sqʼ+/- upstairs living quarters & a SUCCESSFUL PRE-SCHOOL & BEFORE/AFTER SCHOOL care programs business is on a 5635 sq ̓ CORNER PROPERTY. Run your childcare business, PAY YOUR OWN MORTGAGE INSTEAD OF RENT! Westburn Realty (604) 889-8001

Central Burnaby 1/2 Duplex5189 Manor Street • $788,000

Spacious family home 5 bdrms, 2 kitchens, 31/2 bathrooms...approx. 2000 s/f on two levels.Like NEW...8 yrs old. Liv/din Rm, Large kitchen. 2 bdrm revenue help-er. View of Northshore Mtns from balcony. Separate garage. Interior newly painted. Minutes to BCIT, SFU, Brentwood Mall and Metro Town.

OPEN Sunday 2-4


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R E A L E S T A T E W E E K L Y

I n P r i n t > O n l i n e > I t ’ s A l l H e r e

Despite the seemingly unstoppable rise in resale house prices in Metro Vancouver, the price of a newly built home in the city continued to drop in January this year, according to Statistics Canada fi gures released March 12.

New homes in the area fell 0.1 per cent com-pared with December 2014 and 0.6 per cent year over year, continuing the trend of recent months.

The New Housing Price Index also fell 0.6 per cent year over year and 0.1 per cent month over month across the whole of BC.

Victoria saw Canada’s biggest new home price decrease in January, dropping 1.5 per cent com-

pared with January last year, as well as 0.5 per cent since December.

Vancouver and Victoria were two of only eight metropolitan regions to report decreases in new home prices in January, out of a total of 21 areas surveyed.

The index combines both home and land val-ues. As in previous months, the above decreases in value were entirely attributed to developers reporting a drop in negotiated home prices, with land values remaining unchanged for several months.

Across Canada, the index increased 1.4 per cent year over year but fell 0.1 per cent month over month.

Calgary again reported the country’s biggest jump in new home prices in January, rising 5.1 per cent year over year.

Vancouver and BC New Home Prices Offer Buyers Increasingly Good Value

BURNABY / NEW WESTMINSTER Apr 3, 2015 Real Estate Weekly

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Transcript of BURNABY / NEW WESTMINSTER Apr 3, 2015 Real Estate Weekly