Surrey - Vantage Real Estate Group Home Trends

Vantage Real Estate Group

ORGANIZING CORNER CABINETS If you find it difficult to organize your kitchen shelves and cupboards, you're not alone. Professional organizers find it's one of the most popular tasks they're asked to tackle. Even more challenging is the corner cabinet. Typically deeper than other cabinets and awkwardly shaped and accessed, figuring out how to utilize the space can be puzzling. A common tool for homeowners and organizers alike is a lazy Susan. Either installed in the cabinet directly, or placed on top of the current shelves, lazy Susans are great at allowing you to access everything stored in the cabinet by simply spinning it around. Another option is a blind corner cabinet organizer, or a swing-out shelf organizer. Purchased at your local home improvement store, or online, they replace the current shelves and essentially pull out of cupboard entirely so you can access everything easily. If these types of fixes aren't in your budget or skill set, organizers suggest using baskets or bins to store irregular shaped items as the bins can line up nicely and can be pulled out individually to access what you're looking for. Larger items are best stored in the back whereas smaller and more frequently used items in the front.

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When you’re considering listing your home for sale, you may feel that fixing it up is a waste of time as buyers are just going to do what they want when they move in anyway. However, experience shows that the better shape your home is in, the more likely you are to receive fair compensation and perhaps even offers above asking price. A home in good repair shows potential buyers you care about the property and have likely taken good care of it while living there. These days, a lot of buyers are looking for a move-in-ready property as opposed to a fixer upper so putting in time and effort for a few upgrades will help in the long run. What types of things should you consider doing prior to listing? A deep clean and declutter is always the first step. Then, smaller fixes that take time but don’t cost a lot of money should be your next priority. Things such as fixing any holes in the walls, spot treating stains in the carpet, replacing broken light fixtures or blinds or curtains and the like will all benefit you in the long run. Larger projects, like new shingles, major plumbing issues, replacing large appliances, etc. would be best to discuss with a professional ahead of time. Many buyers aren’t going to be too excited to fork out the cost of a new roof within a year or two of moving in and thus their offer may reflect that. However, if they’re big fans of stainless-steel appliances and you opt for a lower cost white stove instead, that may turn them off of the house. Let’s discuss those types of alterations before you go ahead and determine the best path forward. FIXING YOUR HOME PRIOR TO LISTING

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AUTUMN TREE MAINTENANCE If you have trees in your yard, now is the time to prepare them for the winter months so they’re able to repair over the winter and come back healthier in the spring. First, be sure to pick up any fallen fruit or leaves that fall from the tree. Leaving them to rot can damage the ground and soil under the tree and thus affect the nutrients the roots are able to soak up. Instead gather the leaves and fruit and compost them or turn them into mulch to provide a thin layer of nutritious ground cover that will help the roots of the tree instead of hinder them. If adding mulch isn’t an option, consider using a slow release fall fertilizer to keep the tree thriving until spring. Autumn is also the perfect time to prune your trees. As they go dormant for the winter, they will put their energy into root development instead of leaf production. Be sure to remove dead, overgrown and potentially dangerous branches before the first frost coats the ground. Try not to leave too much of a stump by cutting branches as close to the trunk as possible. Also, while you’re up close to the tree inspect it for any pests or disease that may have taken hold over the summer and treat as needed. Finally, you’ll want to ensure you keep watering your trees on a regular basis so they have enough water stored up to last through the freezing months. With these few maintenance tips, your trees should come back to life in the spring better than ever and grow for many years to come. Bonus tip: If you don’t have any trees, but want to add one or two to your yard, fall is the best time of year to plant!

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WHAT’S IN A CREDIT SCORE? Having good credit is something a lot of Canadians struggle with. Not just maintaining good credit, but understanding what affects a credit score and how important it is. Your credit score is a part of your credit report, which you can access for free from either Equifax or TransUnion, Canada's two credit bureaus, once a year. The score itself is a number between 300 and 900 that helps lenders determine how much of a risk you are and thus if they should lend you money in the form of a loan or mortgage, and if so, how much interest you should be charged. Your credit score can also impact your ability to rent a property or even get hired for a job. The higher your credit score, the better. Scores between 660 and 724 are considered “good,” whereas scores between 725 and 759 are “very good,” and scores above 760+ are “excellent.”There are five factors that go into your score: payment history, credit utilization, credit history, credit mix and hard credit inquiries. Various lenders (and the credit bureaus) weigh each factor differently, so your credit score may differ slightly from what you see when you pull it versus what your bank sees, for instance. For more information on credit scores including how to improve yours, head to https://www.canada.ca/en/financial consumer-agency/services/credit-reports-score/credit-report-score-basics.html .

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Sluggish sales and rising inventories see Fraser Valley moving toward a buyer’s market

SURREY

BENCHMARK PRICE Single Family Dwelling $1,628,600

BENCHMARK PRICE Townhouse $861,200

SOLD LISTINGS 433

BC, October 2, 2024 – The Fraser Valley Real Estate Board recorded 982 sales in September. Inventory increased five per cent from August to September to 9,045, up 39 per cent over last year. “With three rate cuts already and more expected before the end of the year, buyers are watching the market closely to time their purchasing decisions,” said Jeff Chadha, Chair of the Fraser Valley Real Estate Board. “The current conditions should favour buyers, particularly in the detached market, however until we start to see some movement in asking prices, properties will continue to sit on the market for extended periods as both buyers and sellers await the next rate announcement.” New listings rose in September, up 21 per cent to 3,352, an increase of 17 per cent year-over-year. “We know the demand is there among Fraser Valley buyers,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “After months on the sidelines, buyers want to get into the market but many also need to sell before they can buy. When you factor in affordability challenges and the anticipation of more interest rate cuts, we are seeing persistent weakness in the market. In conditions like these, we encourage buyers and sellers alike to talk to their REALTOR® to assess the risks and opportunities before making a decision.” Across the Fraser Valley in September, the average number of days to sell a single-family detached home was 35, while for a condo it was 37. Townhomes took, on average, 30 days to sell. Source: Fraser Valley Real Estate Board | Market values stated are of the benchmark of Fraser Valley 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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