Real Estate Market

State of The Market - October 2010

Vancouver Real Estate - State of The Market for October, 2010

The market for detached homes is turning to a buyer's market for lower price homes

Market Absorption Rate for Detached Homes

Vancouver Westside : 5.6 months
Vancouver Eastside : 4 months

The "absorption rate" is an estimate of how long it may take for the existing housing supply to be "absorbed" by the current demand for such housing. Calculations are based on the average sales for the last 3 months and the existing "for sale" inventory.

6 month supply is a balanced market
Less than 6 month supply is a sellers' market
More than 6 month supply is a buyers' market.

Sale activities by neighbourhoods
Want to know what's happening with the real estate market in your neighbourhood? I have compiled data for each neighbourhoods for Vancouver Westside and Eastside including price ranges for each area.
TO VIEW, CLICK HERE

Upgrading windows-from Pillar to Post inspectors

Clients often ask Pillar to Post inspectors about the value of upgrading windows. There are many good reasons to upgrade windows but it is often difficult to decide based solely on dollars and cents.

Save Energy
Replacing old drafty windows with modern windows will saves energy, but the cost will not likely justify the energy savings. Break even will only occur after 20 to 30 years. Beware of claims such as 40% savings on your energy bills. Realistically, you may save 10% to 20%. If saving money is your only goal, consider weather stripping and repairing the windows you have.

Comparing Windows
U-Factor The National Fenestration Rating Council (NFRC) has developed a standardized rating system call the “U-factor” which provides a single number with which to compare windows. The U-factor is a number between 0 to 1: the lower the number, the better. 0.35 is good. In cold climates, the U-factor is the most important factor for selecting a window.

Solar Heat Gain Coefficient (SHGC) In climates where air conditioning is more important than heating, the SHGC is the most important factor for choosing a window. The SHGC represents how much heat from the sun penetrates the window. The SHGC is a number between 0 to 1. For air conditioning climates, a number less than 0.4 is good. For heating climates, a larger number, such as 0.6, is better.

Advanced Technology

Argon Filled
Some manufacturers put argon gas, a better insulator than air, between the panes, resulting in a more efficient window. Most experts agree that the argon does not last forever.

Glass Coatings
Coatings or films can dramatically improve the efficiency of a window. In a heating climate, low-E glass allows short wave solar radiation into the home for a heat gain, and prevents heat loss by reflecting the longer wave heat from inside your house back into the room. In hot climates, the window can be coated or tinted to reduce heat gain from the sun. Ask a home inspector, or another impartial professional, whether you need to upgrade your windows. A window salesperson will likely give you only one answer: yes.

What Sellers Need to Know About Home Inspections!

According to home inspectors, there are up to 100 physical items that come under scrutiny during a home inspection.

Whether you own an older home or a brand new one, there are a number of things that can fall short of requirements during a home inspection. If not identified and dealt with, any of these items could cost you dearly in terms of a sale that fails to complete! That's why it's critical that you know what they are. If you wait until the building inspector flags these issues, you will almost certainly experience costly delays in the close of your home sale, or worse, turn prospective buyers away altogether.

In most cases, you can make a reasonable pre-inspection yourself if you know what you're looking for. And knowing what you're looking for can help you prevent little problems from growing into costly and unmanageable ones.

To help home sellers deal with passing a home inspection, I provide this extensive list of items as part of my marketing plan for you to review to ensure a home inspection doesn’t cost you the sale of your home.

Contact Information

Photo of Alan Mah Real Estate
Alan Mah
Park Georgia Realty Ltd.
109-5701 Granville Street
Vancouver BC BC V6M 4J7
(604) 321-SOLD
Fax: 604-261-2129