MLS Listings in Vancouver BC
If you are looking to purchase Real Estate here in Vancouver, BC then you will no doubt encounter our Vancouver MLS® or Multiple Listing System as you browse for your next home or condo.
We realised several shortcomings with the current systems of Realtor.ca and Realtylink.org and we wanted to make a much more efficient search engine for everyone browsing the Vancouver MLS®. Our websites feature the latest properties, just like the above websites, however we have a much faster and intuitive search engine allowing potential home purchasers to find the properties they are looking for quicker, with less fuss. Check it out by visiting the home page and starting the search for your next Vancouver home!
In the mean time, you can check out these 5 common real estate myths in the first of our three part series that talks about 15 of the most common misconceptions about the Vancouver Real Estate Market.
Vancouver Real Estate Myths and Realities:
1. B.C.’s recreational properties are being bought up by Albertans
If we look back to 2007 we see that 94% of the property sales in BC were completed by BC residents, however if we examine the recreational market segment, which looks at Ski Chalets, Lakefront Homes, Cabins, Resort Condos (such as those in Osoyoos, BC), Albertans were actually the largest purchaser of these types of properties when we compare where the property tax mailings were sent to.
During that same year, non residents of BC purchased a total of 9,375 vacation homes here in BC, valued at roughly $3.8bn! 60% of those were purchased by folks from Alberta, which accounts for $2.2bn and around 6,319 of those sales.
According to research Calgary residents were responsible for almost half of those Alberta purchases.
2. My Vancouver MLS Listing property assessment tells me what my home is worth
Many purchasers assume that the BC assessment of a MLS Listing is what the true value is, or what it should be purchased for, this is simply just not true.
When your assessment notice is mailed out to you on July 1st, it has the highest chance of being correct, but at this time of writing, that was nearly 12 months ago. If you were looking to sell, you could probably negotiate a higher price than that of your assessment.
Fact is, if you live in an older property your assessed value is likely to be further off than your real value that you could sell your property for, as the government calculates it using a computer formula, so if you have done a ton of updates to your home, these will not reflect on that value.
3. Spring is the best time to list your home on the Vancouver MLS®
If we look back on all land title records since 1993, then we see that the busiest months for sales are March through June. According to experts, the months that are the busiest for Home and Condos for sale differ slightly, condos are more likely to see action in March, April & June, however homes have the most activity from April through June.
If we see more sales, typically that means more buyers are out and about viewing homes, so there maybe some or more competing bids for your home!
To make sense of this, or with any questions, get in touch with us today by leaving a reply below.