Mina Hamoni : Real Estate

Congratulations to all on a successful April! Thank you to all of my clients for trusting me in the process.

Home Sellers have become increasingly active in Metro Vancouver’s* housing market this Spring, in response to heightened demand and rising home values that have materialized during the pandemic. Last month’s sales were 56.2% above the 10-year April sales average. This marks the highest total on record for the month!!

SOLD Congratulations to my clients on the purchase of this 1072 sqft ground level unit 2 bed 2 bath 1 den... 107 - 10675 138A Street, Surrey BC

SOLD Congratulations to my clients on the purchase of this great investment Absolute pleasure assisting this wonderful couple! Bring creativity to life- ... Two industrial zoned lots with a wide variety of usage: 13052 115B Avenue & 13056 115B Avenue

SOLD 309 - 11806 88 Avenue, Delta BC Huge congratulations to my client and first time home buyer on the purchase of this unit! ... A quiet corner unit with 527 sqft of living space and a balcony!

The market is intense! Competition amongst home buyers is putting upward pressure on home prices across Metro Vancouver’s* housing market. Last month’s sales were 42.8% above the 10-year February sales average! Thinking of buying? Make sure you are prepared in this seller's market!

- SOLD - Huge congratulations to my wonderful clients on the purchase of this great investment This 6.5 acre resort consists of motel units, cabins, RV sites, tents, an outdoor swimming pool, and a 5 bedroom home!

- SOLD - 12861 Barnsdale Street, Maple Ridge, BC 3 3 split level entry home sitting on a little over an acre lot (44,866 sqft).... Congratulations to my clients on the purchase of their new home!! I am delighted that I was able to help purchase this property. An absolutely breathtaking country style property just minutes away from the city. A massive private entrance and the peaceful Alouette river flowing at the back of the property. Luckily my clients and I had the opportunity to view this property while the sun was still shining and were able to see people enjoying the river by floating down on their water tubes!

Real estate sales typically follow seasonal patterns. Homes sell well in the spring, then the market slows down in the summer, as buyers and sellers, typically, go on vacation. Activity picks up in the fall, the second-busiest season of the year. After, the market quiets down in the winter, before picking back up in the busiest season- spring. However, due to some unpredictable times, such as today- the 2020 market looks slightly different. Last month’s sales exceeded histor...ical levels, leaving us with the question: Will this level of activity carry on through the autumn months? Last year, sales increased in September and October before slowing down in November. Due to this, the Real Estate board noted that the market was experiencing a fall pickup. The same could happen in Autumn 2020... be prepared whether you are buying or selling!

As buyers & sellers continue to become more active due to COVID-19 restrictions easing up, I have been getting the question, How is the market? Well, remember at the beginning of this pandemic, when people were fighting over toilet paper? That's similar to what is occurring in the real estate market right now. We are seeing plenty of multiple offers & some homes going for over asking, within days of being listed. Last month, home buyer activity EXCEEDED historical levels.... This is due to pent up buyers & sellers that have been accumulating in the market throughout the year. Low interest rates & supply are also increasing competition within our market. Although there are multiple offers, there is some good news for those looking to buy a home. The Bank of Canada lowered its five-year conventional mortgage rate from 4.94% to 4.79% the second time they have reduced the qualifying rate in the last three months. Five-year fixed rates are currently at historic lows. Now is a great time for Canadians to qualify and secure a mortgage rate! If you are a new homebuyer, speak to a mortgage professional & redo your affordability calculations, using the new stress test rate. Check to see how much your buying power has increased. If you are thinking of buying or selling in the current market, please feel free to reach out for more information!