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I think this depends on where you live. The majority of Canadians live in bigger cities. But selling in rural settings might be easier or harder. But I think he's specifically talking about those house selling and buying in bigger cities. I inherited my home and never spent a cent buying it. So, even selling my home for $100 would be a profit to me. That said, I would price it at market rates and then reduce it by 5-10% ... I'm sure it'll sell faster than most of the houses out there that are overpriced (i.e., market price).

Steve is that you..what did i stumble upon. First one on your youtube page! Whats youtube page. Anyway, long way you have come.

Way to go Steve. Another one! We the best -- in the analysis. You should do a prediction episode like you did in the previous years, just for the fun and see how accurately you predict. Again, for fun and we will be able to look upon this in the future haha

Interesting. You hit all of my "high enthusiasm" locations, except Fort Langley, which I've never considered. I need to borrow your crystal ball for a day or so.

Imagine buying a house for someone to live in just to drain the life out of someone else

Canadians cant afford BC living anymore

Interest rates are having landlords selling off their rental homes and struggling creating more homeless. Rent control and taxes and higher mortgage payments are pushing canadians out of their homes . Bad government policies caused this. People in the rental market are getting out of therental market. People sell to downsize but if rents are higher than the mortgage payments home owners will wait till they get their price

Surrey is cooked. Low quality city whose only appeal is being near a better city - that isn't a good long term investment. Bagholders sell now before it's too late.

A private elevator would be useful in a multiple-level townhouse. A few years ago, I read that a private elevator could be purchased and installed in a new townhouse for about $20k (USA). If the cost has risen to $25k, it still might be only 5-10% of the cost of a new townhouse. I would place the elevator in an exterior corner of the townhouse. It might be possible to have the elevator open to the outside at ground level. If the ground is paved, a heavy piece of furniture or appliance could be rolled from the paved area into the elevator, and rolled out into the interior at another level. Water could be prevented from going into the elevator by wide eaves, up to an 8% grade just outside the exterior elevator door, thorough weatherstripping on the door, and a grating over a drainage channel between the paved area and the door. In most townhouses that I have seen, the stairs would interfere with moving things because the stairs are narrow, they may include turns, and there are walls just beyond the stairs. A private elevator could get around these limitations.

I sold my home a year ago and I'm very glad I did. I really believe we are slowly headed for turbulent times. It may take another year or so before the general public really believes this but we are headed in that direction for sure. When you borrow way beyond your means you MUST pay the loan back and we have not even started to do that yet. Greed has got us in the position we are in, as it eventually always does. 2-3 years from now many people (it only takes 2% of people) will be in a panic, and that will begin to crash the market. This will help to get us closer to the real value of real estate and the next generations will hopefully be able to buy in eventually. We honestly have no other choice if we want to have an economy and society that works for all.

It’s close, but I would rather have two mirror master bedroom suites.

It is a nice f/p, but the master bath, I would eliminate the tub (there is one in the other bathroom if I want to soak), and make a large walk in shower, and where the small shower is, make that into a storage/linen closet. Love the laundry room, has a place for a small freezer and the litter box!

Why would I want to drag guests from my front door to the back placed living room ? Family room is place to put kids while entertaining.

What software do you use to calculate averages? Does everyone have access to it? Or just Realtors

I think this should be prefaced with some caveats about constraints because in principle, a single sided plan this deep is fundamentally bad

A central fireplace isn't so effective because the convection induced will naturally draw cold air from the perimeter creating drafts, that's why traditionally fireplaces are on the perimeter. They were moved to a more central position mostly based on the ideas of Frank Lloyd Wright who placed the hearth as the metaphorical heart of the home.

Polemizowała bym. Garderoba przy łazience, to niepożądane zapachy i wilgoć. Kuchnia i jadalnia bez okna, skazane na używanie sztucznego oświetlenia. Gabinet bez okna.

Is that a True Classic T-Shirt? Looks fresh 😂

If you have listed your 3 bedroom home for $700K and the replacement value of that home with current material cost and labor is over $650K, then how low can you drop the price from that point (not even factoring in the land price)? I believe no matter what happens to the economy house prices cannot drop below their replacement cost, especially when this rate of immigration is creating housing shortages.

Does this stand for high end condos too?

“The market will come back”? Explain? Most can’t… that’s pure hopium! It’s not coming back, this is the peak. And it’s going down.

I like bathrooms tucked in a hallway. This one is exposed to the dining area. Imagine how uncomfortable it would be to enter and exit the bathroom. Esp if people are seated at the table.

The less homes on the market, the better for realtors...that's why

Great info Steve, thank you.

Enjoy your videos - seme of the best insight and common sense advice about Real Estate and the Surrey market. Cheers.

But don’t forget Surrey is going to be the next Vancouver! 🤣This is terrible unless you’re 88 years old and can’t have a life any longer ! Why would they build a studio like that ! If it was near a university , I get it but otherwise?

Thank you! Appreciate these informative videos:)

Every financial goal requires patience, dedication and consistent spirit knowing that investment is currently the most lucrative business in the world. both NFT, real estate, Stocks and Crypto is positively changing people's lives. I stopped panicking about the market the very moment I started working with Mrs Elizabeth Frankel last year, her confidence and skills is on a maximum level…

Our friends sold their house. They simply dropped the price 20% less than what they would have asked last year, boom gone. Now they swapped for cheaper house in a different town

Good luck dreamers.

People just don’t have money nor afford saving these days. Turdeau said it himself he wants property price high up there for stupid reasons while raising building taxes for the builders. Stupid does stupid things. As simple as that. Good luck Canadone.

Real estate agent inventory is too high they better go back to selling weed

Immigration is not slowing but their money might be slowing..

Just to let you know I could barely hear you on my imac.

When did Canadians get so greedy?

I don't know whether there will be the changes you mention, but I think you were unclear about what the "12 month notice for converting a manufactured home park" is all about. The BC government website is quite clear about the definition of this type of eviction. "In the event that a landlord intends to convert all or a significant part of the manufactured home park to a non-residential use or any residential use other than a manufactured home park, specific legal requirements must be met. The landlord must have all the necessary government permits and approvals in place before issuing the notice." So, for example, if you owned a mobile home/manufactured home park in BC and you wanted to change it into a mini storage facility, you would have to provide a full 12 month notice to all the people living in the park, after getting all your permits, and only after everyone left could you proceed. This has happened a few times in the province and it is usually ruinous to the owners of the homes in the park. They tend to be elderly or disabled, on very fixed incomes, often without a lot of financial resources, and many of them end up losing all their possessions, even at the end of a year. It's even worse in the case of a park on reserve land, as the Act "does not apply to on-reserve lands".

Next 8 months will be volatile time to buckle up

I think once stock get's better and a little more days to average sale we will start to see the couples start to sell their renovated home that they worked on over the last 5-7 years that will test market conditions for well put together stock quality while they then re-enter the market to trade up in size or location to start the cycle again. Alot of these buyers have been stuck into 5 year cycles waiting for the market to replenish stock of properties that have solid upward potential. Generally I think Abbotsford are the next spots to boom like Langley for the de-tatched home segment as Manufacturing is getting pushed out of the downtown core due to taxes and costs, Moving affluent skilled workers to that market to avoid the commute.

It’s brewing..

My property price is what the appraisal value of the property as I had it appraised before I put it out in the market been sitting in the market for the last 3 months, no offer few viewing. Where did I go wrong with this?

What should people do who have purchased a presale in the Guilford area with a completion of Fall 2024? We know now that pre-sales are not a good investment,but did not know 2 years ago when the purchase was made. Any helpful tips for such situations?

HODLing like its crypto winter

Well, that's you're opinion. But many, many people in the industry disagree. We are in the early times, here in Canada, that we haven't been in for a long, long time. House prices in Canada are rediculosly unaffordable and will likely tumble. lower mainland is different because of foreign money. We shall see.

You ROCK!!!!

Hello Steve, Do you think we will see steep price drop in the detached home in Fraser valley ranging from 1.1 to 1.3? If yes, for how long this downtown will continue until Dec 2024? Any guess on the price drop magnitude? Do you see things getting better next year or even worse with so many renewals coming especially from June 2025?

put your house on the market and let nature take its course

My wife and I are first time home buyers and watch your videos daily! In a previous video you mentioned offers being around 97% of asking when active listings are at the level they are now. Does this apply to the townhouse market in Langley?? Thanks for all your hard work! Go Lions!

Sell before it's too late

So, basically the goal is try to keep home prices where they are as much as possible to avoid their moving down at all cost, right? But how is it going to help with increasing unemployment rate & weak economy?