1) Canada's economy will continue to under perform the U.S. as growth slows to 1-3/4% in 2019 compared to just over 2% in 2018. For the U.S., this year’s growth will hit about 2.4%.
2) Canada's population growth will lead the G7 by a wide margin. In 2018, Canada’s population was 1.4%, which doubles the 0.7% rate for the U.S. Despite this, however, spending did not rise Per capita GDP growth in Canada this year will under perform most of the G7. Strong (net) immigration accounted for almost half (45%) of Canada’s population increase last year.
3) Canadian consumers are tapped out as debt levels remain high, interest rates edging upward and credit is less readily available. Foreign buying has slowed owing to foreign purchaser taxes and speculation taxes.
4) Most likely, both the Fed and the Bank of Canada will raise their benchmark overnight rate twice this year. With this increases in 2019, consumers will be impacted significantly because they are so heavily exposed to debt. Economists at the Royal Bank estimate that the average household faces a $1,000 hit from rate hikes.
5) Rising interest rates will squeeze government spending with significant debt loads.
6) In contrast to last year, housing in 2019 will not fuel Canada's national economy.
Bottom Line: Sales to new listings will continue to decline. In consequence, the number of completed and unabsorbed units continues to increase.
According to the February report by Real Estate Board of Greater Vancouver (REBGV), home listings continue to increase in the Metro Vancouver housing market, while home buyer activity remains below historical averages. The total number of homes currently listed for sale on the MLS® system in Metro Vancouver shows about 55% increase compared to January 2018.
Residential home sales in the region totaled in January 2019, decreased by almost 40% compare to the same month in 2018. Last month’s sales were the lowest January-sales total since 2009.
Sales-to-active listings ratio for January 2019 were approximately 7% for detached homes, 12% for townhomes and 14% condominiums. Generally, downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period.
This explains the more pronounced price adjustment that we have been experiencing in the past few months for single detached homes compare to townhomes and apartments.
Today’s market conditions are largely the result of the mortgage stress test that the federal government imposed at the beginning of last year,” Moore said. “This measure, coupled with an increase in mortgage rates, took away as much as 25 per cent of purchasing power from many home buyers trying to enter the market.
Metro Vancouver housing sales hit nearly a 20-year low and so, home prices are expected to go even lower throughout 2019 as cooling measures such as new tax rules and policies take effect causing Buyers retreat from housing market.
So we have a news for you today! Starting January 1st, REBGV has allowed us to share more information regarding the houses on the market with our clients and prospects. Some of them include:
1- Info about Sold homes, and their sold prices
Info about expired/suspended homes and properties, and more. Contact us for more information.
if you want to start your search today, go right ahead and sign-up for a VOW account at:
If you have a problem in signing up, feel free to contact us via phone and/or online chat.
As we will be experiencing cold temperatures during the winter time, here are 3 tips for you to keep your home warm:
1- In the winter, reduce heat-loss from your home or workplace by getting rid of the gaps around windows, doors, baseboards and wall openings.
2- Windows can account for a large part of heat loss in a building. Upgrade them if they are too old.
3- Insulate power outlets and other sockets using foam pads – This is really important if the walls are not properly insulated.
So, keep your home cozy and warm and
enjoy the winter!
We will see you soon :)
As we are approaching Christmas and New Year holiday, we hope that you will feel the love and warmth of this special season. If you are thinking to purchase a home or invest on a property, time is on your side!
Home price is being adjusted and more properties are being made available to choose from. It’s a Buyer’s market now!
As we’re experiencing Buyer’s market, I will be more than happy to help you exploit this situation for your best interest. I’m just a phone call away. For free consultation contact us at our number below:
Fazi Emadian MBA, PhD,
Team Fazi Real Estate
August 9th 2018
Just for your info, we will be hosting an open house by Oxford Heights area in Port Coquitlam at: 3720 Ulster Street on Sun, Aug 12, at 2-4 pm.
If you like to have a feature sheet of the property, let us know. We will be happy to email it to you
Click the link below to see our open house:
Team Fazi Real Estate
Tel: (604) 263-5926
July 15, 2018
As expected, Stephen S. Poloz, the Governor of the Bank of Canada has announced a few days ago that the Bank of Canada hiked its key overnight rate 25 basis points to 1.5%.
He also mentioned that he expected that the Bank to gradually hike the benchmark rate until it reaches 2% or 2-1/4% by the end of 2019, implying another 2 or 3 rate hikes by the end of next year. However, Mr. Ploloz was uncertain as to how quickly this would happen. This will be discussed in the Governing Council of the Bank which is scheduled to meet again on September 5, 2018.
Recent data by the Bank of Canada suggests that housing markets are beginning to stabilize following a weak start to 2018.. Accordingly, the housing will contribute a mere 0.1 percentage points to growth this year, with no contribution in 2019 and a slight negative rate of contribution in 2020 (see Table below).
According to the Real Estate Board of Greater Vancouver (REBGV) report released in June, home buyer demand continues to decline across the Metro Vancouver housing market and this is allowing housing supply to accumulate.
Last month’s sales were 19% below the 10-year May sales average.
In terms of sales of different types of residential properties, detached homes, apartments and townhouses in May 2018 were lowered by 40%, 29% and 40%, respectively compare to the sales of these types of properties recorded in May 2017.
I have an announcement that I would like to make; it is very exciting times for us since we are expanding our business and we would like to share with you that we will be officially hosting a meetup group in just few days from now.
For more information or any inquiry that you may have please call our number below and talk to our Assistant, Iman and he should be able to help you just fine.
By the way, there only 10 seats available in this meetup so don't wait to long and RSVP now to reserve your spot, go to the link below:
Team Fazi Real Estate
Tel: (604) 484-0542
Hello everyone, this week we have a new and special listing. This home is located on top of the hill with the view of the horizon and the great mount Baker seen just in the balcony and all bedrooms in all three levels of this beautiful townhouse. Have a look it you’re self and you will not be disappointed. To view, visit the link below:
Call our office at (604) 484-0542 for viewings,
Attend our open house on: June 3rd 2018 @ 2:00PM - 4:00PM
At Team Fazi, we understand that looking for the right home can be challenging. We believe that the best place to start is by searching and gaining the sense for shopping confidently.
That’s why in order to help our community in making the right choice in their home buying process, we decided to provide a FREE guided search session with our professional MLS listing system.
At the end of it we will show you how you can use our websites to view all the homes in the market based on a location on the map or an address that you have.
Simply call our office @ (604)263-5926 to book a time for your free guided search session.
Just for your information we are very happy to announce that as of today, May 4th 2018, we we have relevant monthly real estate newsletters ready to be emailed or mailed to you all for FREE of change.
To subscribe, it is easy: simply contact us via our website and provide us with your contact information, then we will be more than happy to send our monthly newsletter.
That way you will always be updated fast, free and conveniently.
Team Fazi Real Estate
in 2013 one of our clients purchased a unit in a highrise in Coquitlam before the skytrain was built for $500K CAD. Now we just sold it for her on Febrery 25th 2018 For $45K CAD over asking price with $345K CAD return.
As you know in most cases, real estate can be the best place to invest your equity. In this very case our clients profited $345,000 in less than 5 years.
Call Fazi PhD for a free evaluation of your home and in our listring presentation we will be more than happy to share with you how we sold our clients home $45K over asking price.
Last week we were invited to attend a luncheon to the preview of grand opening of the new TOWNSHIP COMMON, a great pre-sale development in Langley. If you are interested to recive more info for plans and pricing for This or any other developement, please call Iman, the admin at (604)401-7944
We got a request to list a half plex home in 5865 Sprott Street in central Burnaby right in between two major shopping malls, Brentwood mall and Metrotown mall in central Burnaby.
This home was an original with a fully renovated bathroom and a fresh touch of paint. There was nothing exciting about this place.
We told our client to tidy up the place and hired a photographer to take pictures. Then we held two consecutive open houses in the weekend and used our dynamic marketing strategies, we got 9 offers on Monday and picked the astonishing $209,000 above asking price offer and the home was sold for maximum record-high price.
There is a reward for our sellers and buyers, contact us via this website and we will tell you about our reward program.