Maria Mak- Burnaby Real Estate - Great health, love, peace and happiness. Happy Chinese New Year.

Wishing my family, friends and clients great health, love, peace and happiness in the year of the horse.

Happy Chinese New Year!

祝新春大吉, 事事如意, 身體健康！

Maria Mak. Burnaby Real Estate - 迎接農曆新年丶祝新春大吉 Happy Chinese New Year! Maria Mak. Burnaby Realtor www.mariamak.com

迎接農曆新年丶祝新春大吉

Happy Chinese New Year!

Great health, love and happiness.

Maria Mak. Burnaby Realtor 

www.mariamak.com

Maria Mak. Burnaby Real Estate -16 ways to list and sell your home quicker and easier

When selling a home , the marketing effort must be coordinated on all fronts. It also must be superior to the competition. This is especially true in a buyers' market where the homes sitting on the market seemingly outnumber the potential home buyers. In such an environment, you must lift your home out from this crowd and highlight it in the best way possible. You must out-think the competition.

All good marketing efforts begin life as a sound, basic plan and then evolves to fit the particular property and situation. Cut from whole cloth and then tailor-made, such a plan will incorporate innovative new ideas and "rearrange" old ones.

1. Select a Quality Realtor . There are also some who are little more than "order takers" who literally can't properly write out a contract, much less have the hard-won knowledge needed to position your home in the most appropriate and effective way for your particular market. So how do you find such an experienced, market aggressive realtor? Ask around. Check with friends and get some names. When selling in today's market, you need to be in the hands of a practicing "doctor" and not someone eager to practice on you.

2. The market evaluation should compare your home with at least 10  currently active competitive listings, three recent competitive sales and three competitive and now inactive listings which didn't sell. Drive over and check out these benchmark properties yourself to ensure the realtor has put your home in the right "ballpark". If you disagree, find out the reasoning as to why the realtor has so placed your home. The reasons could be good ones indeed. (Or vice versa.)

3. Once you've vetted all three choices, go with the realtor whose combination of experience, proven performance and action-plan for your home is the most impressive. But be careful not to confuse impressive with unattainable.

4. Ensure your home is listed on the realtor's personal website and other media like ethnic newspaper and magazine. The more exposure, the better.

5. Underline to the realtor that you wish to be kept informed of the sales progress at least once a week during the entire listing period. Every time the home is shown to prospective buyers, ensure the realtor informs you in advance and also gives you a feedback as to the viewer's reaction to the home. On the other hand, don't overdo it. Be courteous and be careful not to nag the realtor. When dealing with a professional, be professional.

6. Price Your Home Right: Yes, we all need and want the best price. But be realistic. It might do wonders for the ego and daydreams, but a high price tag does little if it doesn't come accompanied with a sale. If anything, it has kept your home effectively out of the market. Once you and your realtor have agreed upon an asking price based upon the aforementioned market evaluation, bring in a reality check. Based on your understanding of the competition, is the pricing realistic? This is particularly important in a market where prices are falling.

7. Create a "Benefit and Feature" Sheet For Your Home: Reach back in time and remember why you bought the home in the first place. What caught your eye, what appealed to you? Write these reasons down; more often than not, new buyers will also be attracted to these same features. List every good point, every benefit, your property and your neighborhood enjoys. Today, people want information. Lots of it. Think about the basics and spell them out. A good agent will know the answers already, but nonetheless, these basic features should be highlighted in your feature sheet.

8. Place Your Home on the MLS: If a home is to sell, it must have maximum exposure. The Multiple Listing Service will give it that exposure. As well, ensure your home is put on the Agents Open or MLS Agents Tour so as to educate other realtors as to the home's potential. But two months is all you need to get on.

9. Buy Some Extra Enthusiasm: Human beings almost always act in their own self-interest first. Take advantage of this to promote some extra interest in your own property. Offer something special to encourage realtors to bring in those offers. Depending upon how hard it is to sell your home (higher price, tough area, unique features that appeal to few, future potential versus today's reality), offer extra commission to the realtor who brings in the sale...but only if he or she brings it in at the full asking price. As most offers are invariably lower, it's unlikely you'll actually end up paying the extra commission, but it does work as an incentive.

10. Advertise: Consider a cost-effective advertising campaign and review such a plan with your realtor. How big an advertisement? Placed where? How often? Review the ad itself with the realtor and test-market it past a few unbiased friends, associates and so forth. Keep your ego out of it.

11. Let Nothing Escape the Net: Insist that the realtor presents to you all and any offers that come in, no matter how low or seemingly impossible. If someone is willing to write an offer, be considerate enough to see it. Besides, it gives you a better idea of just how the market is reacting to your property.

12. First Impressions Do Count: Fix up your home but do it with "resale" in mind: take care of the eye-catching areas and don't waste the effort (and money) on the rest. The first thing a potential buyers sees is the front porch or entrance. Fix that wobbly front step or squeaky door. Repaint the front door, bathrooms and kitchen. Use off-white or general neutral colors only. If the rug is frayed or stained, consider removing them and going with hardwood floors (assuming you've got them and they're in reasonable shape). Again, sell the "idea" of the place's renovation potential but don't waste the effort to carry it through and do the actual doing. Let the new owners do it. But with that said, there are certain largish renovations which may add more cost-effective resale value than others.

13. Spread the Word: Hand out the feature sheet and unique offer/special commission information to everyone you know, including your secretaries, part-time staff and whomever. You never know who the information will get passed on to next.

14. Don't be afraid to be Different: Agents regularly send out "I Just Listed" flyers to other homes in the neighborhood in the hope of engendering new business. Fine, but check out the flyer and make sure he or she lists the special features and special incentives of your home and not just the standard ubiquitous "vanilla-flavored" preprinted card. Be different. Again, you never know who ends up reading this detailed information. And again, nothing succeeds like success.

15. Declutter and then declutter again. Depersonalize and neutralize. The first items that should go in those packing boxes: family photos, collections and just about anything else that says "you." Show the home from its best possible side. Have people see how they would feel if they owned the home. Developers have show suites and show homes for a reason.

16. Stage your home! Have a professional come in and help. Stand in the doorway to find each room's focal point, and use furniture placement to highlight that. The back of your sofa shouldn't block the view of the fireplace, for example. Remove any extraneous pieces of furniture. "Re-position" them into another room ... or into storage altogether. A wingback chair that's crowding the family room might help create a nice reading nook in the master bedroom.

There are a number of reasons why homes don't sell: overpriced, poor location, poor condition, intense competition as many similar homes similarly priced are all fighting for attention. Homes that do sell are those that are tended diligently by the professional realtor, are priced right (as in just below the competition) and have something unique about them that attracts the buyer's attention in the first place.

You have the right to demand an attentive, professional, upbeat realtor, a person who creates a solid, comprehensive action plan (in writing) and does so in a measurable way (number of showings, numbers of interested buyers, etc.). A good realtor keeps you informed all the way. Be focused. Insist that your realtor be equally as focused. There is no such thing as accidental success. It's always earned and always comes with a price.

For all your real estate services, please contact Maria Mak and her team at Sutton Centre Realty at 604-839-6368 or visit her website www.mariamak.com for latest housing market updates, thank you .

Maria Mak.Burnaby Real Estate Updates - Strata depreciation reports are mandatory | Real Estate Board of Greater Vancouver

Depreciation reports are mandatory as of December 14, 2013 for all strata corporations.

Depreciation reports must be prepared by a qualified person and updated every three years, unless the strata has:
• four or fewer units; or
• five or more units where the strata exempts itself through an annual 3/4 vote.

Strata corporations formed after December 14, 2011, must file a depreciation report within six months of their second AGM.

What is a depreciation report?

 “The depreciation report identifies future costs from the buyers’ perspective that can’t be discovered in a typical building inspection,” explains Tony Gioventu, Executive Director, Condominium Home Owners Association of B.C.

Here are two sources of detailed information about strata depreciation reports:

1. What to Know About Depreciation Reports by the Condominium Home Owners Association of B.C. Available at www.choa.bc.ca/resources.html#smarts.
2. Guide 12: Depreciation Reports. Available at: www.housing

Maria Mak. Burnaby Real Estate Agent - Vancouver's housing 2nd least affordable in the world

Vancouver ranks second only to Hong Kong in having the least affordable housing, according to Demographia's 10th annual survey of 360 housing markets in nine Western countries.

The survey divided median housing prices in Australia, Canada, Hong Kong, Ireland, Japan, New Zealand, Singapore, the U.K. and the U.S. against median gross household income to come up with its ratings.

• Read the full report

Under this rating system, homes in Vancouver cost 10 times median income compared with 15 times income in Hong Kong. Three times median income is considered affordable. 

Struggling with 'sticker shock'

Headhunter Craig Hemer says the high cost of housing could affect some people's decision to move to Vancouver for work.

"If you're living in a five-bedroom home in one part of the country and coming here and bringing your family and expecting to live within the city, costs go up exponentially. And it's a bit of a sticker shock."

Hemer says companies will have to keep a close eye on housing affordability if they want to keep attracting executives to Vancouver. 

"Will they have to adjust or change, provide greater incentives, provide housing allowances that offset some of these differentials? Those are strategies that are used periodically now, that might increase," says Hemer.

But UBC business professor Tsur Somerville says the high cost of housing in Vancouver may not be a bad thing.

"If you've got the most attractive city in the world, it should have the highest price-to-income ratio," says Somerville.

"The amenities both force up the house prices because people want to be there and they lower the incomes because employers can get away with paying less."

Canadian cities 'severely unaffordable'

The Royal Bank of Canada reports that detached housing now requires more than 80 per cent of median household income.—​Demographia International Housing Affordability Survey

Meanwhile, the problem of housing affordability is not unique to Vancouver. 

Canada's major metropolitan markets all have a rating of "severely unaffordable," and the report listed Canadian housing as the most overvalued among 20 OECDnations. 

In addition to Vancouver, the three least affordable metropolitan markets in Canada were all in British Columbia: Victoria, Kelowna and the Fraser Valley.

Vancouver (in green) continues to be the least affordable market in Canada by a substantial margin. Higher numbers on the graph mean less affordability and show the gap has widened considerably since 2004.

The country's most affordable markets were Moncton and Saint John in New Brunswick.

However, when major markets are excluded, Canada's overall housing was rated only "moderately unaffordable," outperforming Australia, New Zealand, Hong Kong and the U.K., where housing prices were all higher. 

"Housing affordability is an important determinant of the standard of living, because higher-cost housing leaves less discretionary income," says the report. "Severely unaffordable markets are also more attractive to buyers seeking extraordinary returns on investment."

The report cites London, Vancouver and the U.S. West Coast as prime examples of this trend.

The study also cited a recent Royal Bank of Canada report. 

"Detached housing, which is preferred in Canada," it says, "now requires more than 80 per cent of median household income, 2½ times the 32 per cent recommended by Canada Mortgage and Housing for mortgage eligibility."

Maria Mak. Burnaby Real Estate Agent - Finding a solid strata property

If you plan to buy a strata property, it’s important you work closely with a REALTOR®.

REALTORS® help clients thoroughly investigate a strata property before making a buying decision. REALTORS® have access to the resources and information strata property buyers need to assess potential problems in strata buildings.

Before buying a strata property, here are evaluation measures we recommend that you take with the assistance of your REALTOR®.

1 Review Strata Council minutes.  Obtain copies of strata council minutes for the past year or more, along with bylaws, financial statements, annual general meeting or special meeting minutes, and any engineering reports that may have been completed. Look for past problems, previous repairs, special assessments, legal cases and upcoming expenditures. Also look for bylaws including rental, pets and smoking or any other significant restrictions or local rules. 

2 Ensure a maintenance program is in place. Read strata council minutes, engineering reports and the strata depreciation report (where there is one in place) and speak with the property manager to determine whether the building has a solid preventative maintenance program in place.

3 Check contingency fund. Under the Strata Property Act and regulations, a portion of strata owners’ monthly maintenance fees must go into a contingency reserve fund to pay for extraordinary repairs, such as a new roof or repairs to leaks. It’s important to determine whether the building has a substantial contingency fund to cover any upcoming expenses.

4 Review the Property Disclosure Statement - Strata Title Properties. Sellers are encouraged to complete this form, which is a checklist to assist in disclosing concerns about the property's condition. Buyer should review it for any defects or potential problems and also to determine if parking stalls and storage lockers are attached to the unit and owned or are limited common property.

5 Investigate the warranty program and builder background. Whether the strata is new or resale, your REALTOR® can find out what type of warranty the building carries, noting the limits and duration of coverage. They may also be able to help find background information about the builder/developer of the project.

6 Consult with a professional home inspector. You may consider hiring an accredited home inspection professional (one who is licensed carries errors and omissions insurance) to inspect the condition of the suite, common areas, and the overall building structure.

Contact Maria Mak Burnaby REALTORS®  @604.839.6368 who has been serving her clients in Metro Vancouver for over 25 years and she is specialized in strata sales and will be happy to speak with you further about evaluating properties.

 

 

December 2013 Year End Housing Market Update - The Real Estate Board of Greater Vancouver

Contact Maria Mak and her elite team @ Sutton Centre Realty @ 604-839-6368 or visit her websitewww.mariamak.com, THANK YOU .

Maria Mak - Burnaby Realtor - Zoocasa

TORONTO, Jan. 9, 2014 /CNW/ - Zoocasa, a licensed real estate brokerage and one of Canada's fastest growing online and mobile real estate destinations, today announced it is providing new services to home buyers and sellers in the Greater Vancouver area and Victoria, giving consumers the ability to search homes for sale across the database of MLS listings along with access to innovative tools.

"Consumers have indicated that they want to go online not just to find their next home, but also to find the right agent to help them," says Lawrence Dale, Group Head of Real Estate Business for Zoocasa. "Our goal is to provide consumers with a one-stop seamless experience for all of their real estate needs, and we are now delivering this experience to consumers across Vancouver and Victoria."

Better than having their own agents, Zoocasa has partnered with agents from top brands and brokerages, including Sutton West Coast Realty and Re/Max. Consumers can now find, compare and connect with pre-qualified and experienced real estate agents that have been handpicked by Zoocasa. As an additional bonus, when a consumer closes the sale or purchase of a home with a Zoocasa partner agent, they receive a rebate worth thousands of dollars in cash and gift cards typically exceeding $2,000.00.

Almost 90 per cent of consumers start their home search online, according to a joint study from the National Association of Realtors(R) and Google. Zoocasa's own internal research also shows that over half the people who use Zoocasa's website are committed to engaging an agent within a matter of weeks, if not days.

When customers are ready to buy or sell their home, Zoocasa makes hiring a professional real estate agent easy. They stand behind each partner agent and provide ongoing consumer support throughout the transaction.

Zoocasa offers home buyers and sellers smarter and better services, including the ability to:

   -- Search all homes 
 
   -- Receive daily alerts when new homes come on the market 
 
   -- Evaluate the value of their home with Zoopraisal(TM) 
 
   -- Search agent profiles and connect with top agents 
 
   -- Earn cashback on buying or selling their home 
 
   -- Calculate mortgages and see current lender rates 

To learn more about Zoocasa, visit www.zoocasa.com.

About Zoocasa

Zoocasa, a licensed brokerage and a wholly owned subsidiary of Rogers Communications and part of the Local Digital Services group, is a Canadian online and mobile real estate destination assisting consumers who are looking to buy or sell their home. With over 6 million visits in 2012 alone, Zoocasa provides an innovative digital solution that helps Canadians search all homes, find a top agent and get a rebate. For more information, please visit www.zoocasa.com.

Maria Mak- 2014 New Year's wishes

希望大家高高興興過日子，生活過得簡簡單單，幸幸福福，歲歲年年。

Wishing everybody live happily , live simply , lots of blessings, year after year.

- Maria Mak BurnabyRealtor

Maria Mak has been serving her clients in Metro Vancouver for over 25 years with a big heart, with a big smile, most importantly with passion. 

Maria can speak fluent Mandarin, Cantonese and English. Contact Maria Mak and her elite team at Sutton Centre Realty for all your premium real estate services at 604-839-6368 or visit her websites www.mariamak.com, You'll be smiling too.

Maria Mak. Burnaby Realtor - Metro Vancouver housing market characterized modest home sale and price increases in 2013

The Greater Vancouver housing market maintained a consistent balance between demand and supply throughout 2013. 

The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2013 reached 28,524, a 14 per cent increase from the 25,032 sales recorded in 2012, and an 11.9 per cent decrease from the 32,390 residential sales in 2011.

“Home sales quietly improved last year compared to 2012, although the volume of activity didn’t compare to some of the record-breaking years we experienced over the last decade,” Sandra Wyant, REBGV president said.

Last year’s home sale total ranks as the third lowest annual total for the region in the last ten years, according to the region’s Multiple Listing Service® (MLS®).

The number of residential properties listed for sale on the MLS® in Metro Vancouver declined 6.2 per cent in 2013 to 54,742 compared to the 58,379 properties listed in 2012. Looking back further, last year’s total represents an 8.1 per cent decline compared to the 59,539 residential properties listed for sale in 2011. Last year’s listing count is on par with the 10 year average.

“It was a year of stability for the Greater Vancouver housing market,” Wyant, said. “Balanced conditions allowed home prices in the region to remain steady, with just a modest increase over the last 12 months.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $603,400. This represents a 2.1 per cent increase compared to December 2012.

December summary

Residential property sales in Greater Vancouver totalled 1,953 in December 2013, an increase of 71 per cent from the 1,142 sales recorded in December 2012 and a 15.9 per cent decline compared to November 2013 when 2,321 home sales occurred.

Contact Maria Mak and her team @ Sutton Centre Realty @ 604-839-6368 or visit her website www.mariamak.com, THANK YOU .

Maria Mak. Burnaby Realtor - Metro Vancouver housing market characterized modest home sale and price increases

The Greater Vancouver housing market maintained a consistent balance between demand and supply throughout 2013. 

The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2013 reached 28,524, a 14 per cent increase from the 25,032 sales recorded in 2012, and an 11.9 per cent decrease from the 32,390 residential sales in 2011.

“Home sales quietly improved last year compared to 2012, although the volume of activity didn’t compare to some of the record-breaking years we experienced over the last decade,” Sandra Wyant, REBGV president said.

Last year’s home sale total ranks as the third lowest annual total for the region in the last ten years, according to the region’s Multiple Listing Service® (MLS®).

The number of residential properties listed for sale on the MLS® in Metro Vancouver declined 6.2 per cent in 2013 to 54,742 compared to the 58,379 properties listed in 2012. Looking back further, last year’s total represents an 8.1 per cent decline compared to the 59,539 residential properties listed for sale in 2011. Last year’s listing count is on par with the 10 year average.

“It was a year of stability for the Greater Vancouver housing market,” Wyant, said. “Balanced conditions allowed home prices in the region to remain steady, with just a modest increase over the last 12 months.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $603,400. This represents a 2.1 per cent increase compared to December 2012.

December summary

Residential property sales in Greater Vancouver totalled 1,953 in December 2013, an increase of 71 per cent from the 1,142 sales recorded in December 2012 and a 15.9 per cent decline compared to November 2013 when 2,321 home sales occurred.

Contact Maria Mak and her elite team @ Sutton Centre Realty @ 604-839-6368 or visit her website www.mariamak.com, THANK YOU .

Maria Mak. Burnaby Real Estate Agent - looking forward to serving my clients in 2014

Lots of work for new year day, I am looking forward to serving my clients in 2014.

Maria Mak has been serving her clients in Metro Vancouver for over 25 years with a big heart, with a big smile, most importantly with passion. 

Maria can speak fluent Mandarin, Cantonese and English. Contact Maria Mak at Sutton Centre Realty for all your premium real estate services at 604-839-6368 or visit her websites www.mariamak.com, You'll be smiling too.