Home Trends from Nick Baer

Nick's E-newsletter

Wheeler Cheam Realty Each office is independently owned and operated

C:604.378.8926 | O: 604.792.0077 E: nickbaer@royallepage.ca www.NickBaer.ca

NICK BAER

CREATE A COLOURFUL OUTDOOR AREA

When you don't have a green thumb but still thrive on colour, there are a lot of options you can consider to bring colour into your outdoor space. Most patio furniture comes in neutral colours, but the fabric covering the cushions can be bright and patterned and changed as often as you desire. Match the furniture with an outdoor rug and coloured umbrella and your space will be much brighter instantly. If you're not sold on using fabric in your particular area, turn to accessories to bring in splashes of colour. Side tables, lanterns, stepping stones, bird houses and vases are a few ideas that when added to a neutral outdoor space can add pops of colour to create a happy, inviting area. Outdoor lighting in the form of LED string lights that allow you to change their colours can help create a warm atmosphere after the sun goes down.

E: nickbaer@royallepage.ca

NICK BAER

HOME INSPECTIONS When putting in an offer on a property, more often than not, a home inspection clause is included. This means that before the sales goes through, a home inspector will have the opportunity to walk through the home with the buyer and inspect the property and make note of anything that may be a potential problem. Home inspectors look at everything from the interior to the exterior of the property as well as the electrical, plumbing, heating and cooling systems. They often provide a report of their findings which will help you make an informed decision on whether or not the purchase of the home is right for you. An inspector can climb up into the attic, follow plumbing and pipes along walls in the basement and the like, but they cannot move furniture (rugs, paintings, etc.) that may be hiding something. They also can't cut into the wall or floor or dismantle anything. They can suggest looking further into certain things that may require an expert opinion or further negotiation with your agent and the seller.

C:604.378.8926 | O: 604.792.0077

NICK BAER

WHY PEOPLE SELL THEIR HOMES As a buyer, you can rest assured there are a number of reasons that every month tens of thousands of Canadians put their homes on the market and will collectively continue to do so regardless of the current market. First up are life-changing situations from marriage to divorce to children moving out to grandparents moving in. These types of situations often call for a change in housing type, style or budget which will result in a property coming to market. Next up is a work-related reason. Whether they have received a promotion or accepted a new job in another part of the city, town, province or even country, Canadians have to move for work and doing so will add to the local real estate market. Financial reasons also motivate a number of real estate transactions, especially when high mortgage rates make a home less affordable and owners downsize to lead a more comfortable lifestyle. Finally, many home owners just want a new place to hang their hat - sometimes there are maintenance tasks that are just too difficult, costly or time consuming to continue; sometimes, a different size yard, kitchen or basement is desired; sometimes mobility issues make a house with stairs inaccessible and a condo with an elevator more appropriate. Whatever the reason, patience is paramount as a buyer. The right property will come on the market soon. And know you can purchase a home for the interim while the right "forever" home comes on the market.

E: nickbaer@royallepage.ca

NICK BAER

WATERING CAN 101 A watering can is just a watering can, right? It does have one main function - to help you water your plants, but there are a few nuances to consider when you're shopping for the right tool for the job. A large watering can will help you transport more water and water more plants at once, but how heavy will it be when filled? Are you able to comfortably carry it and pour from it? When carrying the jug, a rounded handle will be more comfortable, and two handles make pouring easier and allow you better accuracy. Look for a wide opening that is easily accessible and not blocked partially by the handle which will allow you to easily fill it via hose or water barrel. A long spout with multiple watering nozzles would be ideal as you can effectively water any size or shaped plant. An attachment that provides a rain-like pour as well as one that allows a direct stream would also meet most watering needs. Finally, the material the watering can is made out of is also important. Plastic cans will deteriorate due to exposure faster than a metal watering can. However, metal watering cans can break and need to be re-welded or repurposed at some point too, so they're not indestructible, but do tend to last longer.

C:604.378.8926 | O: 604.792.0077

NICK BAER

Home sales drop from strong showing last year but continue to build momentum month-to-month

BENCHMARK PRICE Detached $908,400

BENCHMARK PRICE Townhouse $647,500

ACTIVE LISTINGS 1,182

SOLD LISTINGS 291

Chilliwack, June 2024 - The number of homes sold through the MLS® System of the Chilliwack and District Real Estate Board totaled 291 units in May 2024. “Home sales were down year-over-year from one of the highest May levels on record but continued to show steady improvement on a monthly basis,” said Steven Kelly, President of the Chilliwack and District Real Estate Board. “New listings have begun trending downward as sellers are taking the hint that buyers have not returned to the market in force. Combined with improved demand, overall inventories have plateaued and are moving sideways for the fourth consecutive month. Modest price gains and slowly improving sales are expected to continue for the time being until the Bank of Canada drops its first interest rate cut and provides forward guidance on further movements.” The overall MLS® HPI composite benchmark price was $749,700 in May 2024, increasing by 3.9% compared to May 2023. The benchmark price for single-family homes was $908,400, a gain of 4.6% on a year-over-year basis in May. By comparison, the benchmark price for townhouse/row units was $647,500, up by 7.6% compared to a year earlier, while the benchmark apartment price was $416,100, a minor increase of 2.3% from year-ago levels. There were 540 new residential listings in May 2024. Active residential listings numbered 1,182 units on the market at the end of May. Months of inventory numbered 4.1 at the end of May 2024. Source: Chilliwack and District Real Estate Board (CADREB). Market values stated are of the benchmark of Chilliwack and surrounding region. Individual home market values will vary and are affected by factors such as location, size, interior and exterior condition. Please call to get an up-to-date evaluation of your home.

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