Diane Cardoso Real Estate
6086 Russ Baker Way, Suite 110 V7B1B4 Richmond, BC, Canada

The Canadian Real Estate Association has just published it's Canadian sale price stats for homes across Canada during Covid 19 in May, 2020. The great news is that BC home prices have gone up 3%. Alberta, sadly, was one of the harder hit provinces as sales prices dipped by 4.6%.

Are you considering home renovations in Phase 2 of Covid-19? Here are 5 great tips to get you started.

Metro Vancouver home prices are steady and sales are up! The Real Estate Board of Greater Vancouver (REBGV) reports that the MLS Home Price Index composite benchmark price for all residential properties in Metro Vancouver today is $1,028,400. This is virtually unchanged from April 2020, a 1.4 per cent increase over the last three months, and a 2.9 per cent increase compared to May 2019. Residential home sales in the region totaled 1,485 in May 2020, and a 33.9 per cent increase from the 1,109 homes sold in April 2020.

The market is picking up! Buyers and sellers have become more active through the month of May. Total active listings sit at just over 10,500 today. On May 1, the active listing count was just under 9,900. The daily sales average has also risen each week this month. For the week of May 4-8, the daily sales average was 61. For the week of May 11-15, the daily sales average was 72. For May 19-21, the daily sales average was 102.

What is a HELOC? Don't you just love Acronyms? In it's simplest form, a HELOC works somewhat like a credit card. You can borrow money up to a certain credit limit set by your lender and then pay back the borrowed amounts along with the interest. This option can offer more flexibility - you can even withdraw and make payments on a daily or weeky basis, if necessary. A HELOC's credit limit depends upon a number of factors, including your credit and unpaid debts, but it's determined largely by the market value of your home and the amount you owe on your mortgage. To find out more about the Acronym of the day, speak with your Mortgage Broker or Banker for more info. Courtesy of Kelly Hudson Mortgages.

Give a shout out to all our incredibly selfless and amazing nurses this week, especially since it is Nurse appreciation week! Saying we appreciate you doesn't even begin to describe the feelings we have for all our brave frontline hero's.