Weathering the COVID 19 Outbreak in the Real Estate Market
Some helpful information from Royal LePage CEO Phil Soper about his insights about the Canadian Real Estate Market during these challenging times. Have questions about how to navigate these days in the real estate market? I am more than happy to help! Call/Text Jesse Hildebrandt at 604–793–8884 today!
Did You Know Chilliwack is One of the Top Cities in Western Canada to Invest in?
PC: Western Investor
Western Investor rates Chilliwack BC #3 for Best Western Canadian Investment Towns.
“The opening of the $200 million Molson Coors brewery in September is not the only good news for investors looking at the Lower Mainland community that has become an industrial real estate hot spot. The 400 jobs created by the new Molson Coors brewery will help speed the flow of people into Chilliwack, where house prices are rising faster than anywhere else in the Lower Mainland. In September, the average home price in Chilliwack, at $525,200, was up 1.2 per cent from a year earlier, while it had fallen 6 per cent in Greater Vancouver. Chilliwack’s economy is anticipated to expand by a steady 2.2 per cent this year and next, according to the Conference Board of Canada. Employment is set to grow by 1.5 per cent in 2019 and 2.4 per cent in 2020. The unemployment rate, already at a tight 4.5 per cent, is expected to reach 4.4 per cent next year, one of the lowest in Canada.”
The REIN recently named Chilliwack one of the Top 10 BC Cities to invest in because of our “Economy, affordable real estate and skills-focused education.”
Chilliwack has so much to offer from our mild climate, shopping, arts and culture, great schools, growing leisure facilities and recreational opportunities, and competitive housing costs…we have a fantastic quality of life!
When moving to a new community, you need a trusted REALTOR® who has an extensive knowledge of the different neighborhoods and areas that make Chilliwack so appealing. Let me help you every step of the way!
Call or Text Jesse Hildebrandt at 604-793-8884 TODAY!
The Spring Market Is Just Around The Corner
Although it feels like it's been a very long winter in Chilliwack, spring will be here before we know it, and so comes a busy time of year in the real estate market. We have all heard the saying, "You never get a second chance to make a first impression", and if you are getting your house ready to sell, this should be at the forefront of your mind.
While logical factors such as price and location narrow the pool of houses a potential buyer will look at, the ultimate decision to buy a particular house is fuelled by a mixture of logic and emotion. More times than not, emotion wins. Buyers are searching for a home - a place in which they will feel comfortable, secure, and happy. As a seller, your goal is to cultivate those feelings through the property you are selling. Look at your house as a marketable commodity. A buyer's emotional response is triggered early, so you want to ensure you have done everything you can to encourage a positve response to your house from the outset. Within minutes of pulling into your driveway, buyers have formed an impression that they will carry with them through the rest of the showing and beyond. Keep in mind this impression will not only influence whether or not they make and offer, but also what they consider to be the value of the property.
If you have visited model homes, you're familiar with effective presentation styles. Have you evvery walked into one of these homes and immediately begun taking stock, planning how to get your home to look that good? Well, now is the time to take some of those steps! Properties that create an immediate emotional appeal tend to sell quickly and for more money. With every house I list, I offer my sellers a free consultation by a professional stager. Having this free consultation helps my clients to see their property through the eyes of potential buyers and gives them a starting point in how to proceed.
I was born and raised in Chilliwack and have extensive knowledge of the different neighborhoods and areas. I have been a full-time realtor since 2006 and always focus on my clients' best interests and being the TRUSTED agent they deserve. Wondering if this is a good time to sell your property in Chilliwack? I am happy to answer any questions you might have.Call Jesse Hildebrandt at 604-793-8884 today!
Why Rating Your Realtor Is So Important
As technology grows and our society evolves, the old way of doing things has changed. We now look to others in a much broader way for help. REVIEWS and RATINGS are a major factor in the way people choose to purchase something or hire someone. In most professions there are websites that allow you to rate your experience with that professional. In my industry these rating sites are just starting to become a popular way for consumers to choose their realtor. I ask all my clients to visit www.rate-my-agent.com so they can rate their experience with me. Most realtors have chosen not to take this route as they find it risky for themselves to be judged on a public form.
I feel it is important to give the public as much info about ourselves as we can when they are making the most expensive purchase of their lives. I am confident to have this on my website and I hope people start to use this tool in order to make an informed decision on who they should hire. A lot of people like to rate restaurants where a meal may cost you $50-$100, but they do not rate their realtor where the average home in Chilliwack sells for more than $500,000. Definitely something to think about!
2018 #1 Rated Agent in Chilliwack
2019 Top Rated Agent in Chilliwack
Should I Buy or Sell First?
If you are considering looking for a new home in Chilliwack and are a current homeowner, then you are probably wondering what your strategy should be? Should you wait to find the perfect new home BEFORE you put your current home on the market? Or should you sell first and then look around for your next home? Here are three options for you to consider.
There are several benefits to selling your current house before searching for your next home. First of all, once you have sold your house, you will know precisely how much money you have to work with. With a concrete price range, you’ll be able to narrow the pool of houses before you begin looking, and negotiate accordingly. This will allow you to immediately make firm offers on houses that you are serious about purchasing. You can be first in line with an unconditional offer you know you can afford, and this will grant even further negotiating leverage as sellers tend to take unconditional offers more seriously. When they counter or turn down an offer that’s conditional on the sale of a home, they usually think the buyer will come back with a better and more firm offer once they have sold their current home. However, if you make an unconditional offer, the seller will usually give you more consideration, as they realize you’re probably looking at other properties and will move on if your offer is rejected. Likewise, if you have already sold you house, you probably do have a wider opportunity to look around, negotiate, and find the best deal and fit for you and your family.
The flip side of this scenario, however, is that if you don’t find the right property before the closing date of the house you’ve already sold, you may have to look for temporary housing until you do find what you’re looking for.
So, before you opt to sell first, you should determine whether you have alternate, temporary options, in case you have to move from your house before you’ve found a new one. How would you and your family deal with living in a transition home for an undetermined period of time?
Buying a new house without having sold your current home may occur if you are interested in a specific property and will only sell your current home if this property comes on the market. It may be a matter of timing—grabbing hold of the home before it’s too late. The same might be said of a property you haven’t had you eye on previously, but that catches your attention due to its uniqueness or unbelievable price. If buying first means you don’t miss out on the real estate opportunity of a lifetime, it may be the best move.
However, be careful. If you buy another property and aren’t able to sell your current home quickly enough, you could end up having to finance both homes and shoulder the extra debt until you sell. You can get a financial appraisal or market evaluation of a home prior to selling, but this doesn’t guarantee the price you’ll ultimately receive for the home after the negotiation process has run its course. Since your selling price will be an unknown, jumping into a purchase could be a gamble, particularly if your budget is tight.
Make sure you’re familiar with all aspects of the financial reality this scenario would create before you purchase another home. You may be faced with owning two homes at once. What type of financial stress would this bring to your life and how would you deal with it? Consider the fact that if your current house doesn’t sell quickly enough, you may be forced to sell it off at a reduced price in order align the closing dates of your two properties. What effect would this have on your financial situation?
A Conditional Offer
An additional option involves making your offer to purchase conditional upon the sale of your current property within a specified period. Conditional offers usually include a clause that allows for the sellers to keep their property on the market and remain open to other offers while you try to sell your home. If the Sellers receive another attractive offer before you’ve sold your home, they may accept and ask you to either remove your condition and firm up your offer, or to back down from the offer. A conditional offer forms a kind of middle ground, an area of compromise, for those who are afraid to sell or buy first—but doesn’t hold the advantages of the other two options.
One of the drawbacks of the conditional offer is that sellers tend to take them less seriously. They definitely give stronger consideration to firm offers. This leaves you with less negotiating power. In fact, some sellers will simply turn down or counter a conditional offer. Other sellers will believe the buyer will come back with a more serious offer when their home has sold. So, you may end up having to increase your offer in order to have your conditional offer accepted and keep your foot in the door of your desired house.
Even if your conditional offer is accepted, there is no guarantee another buyer won’t step in and overthrow your offer before you have sold your current home, which would put you back at the starting line. Also, consider the fact that you cannot withdraw your conditional offer until the end of the period specified in the contract—which means that if a better deal comes along, you will have to wait to jump at it.
Let me help you every step of the way! Everyone's situation is different and navigating the ups and downs of the Chilliwack real estate market is what I do best.
Tips For Choosing the Right Chilliwack Real Estate Agent
Finding a Chilliwack real estate agent who is right for you requires doing a little homework, and asking the right questions. Choosing an agent is a decision that could ultimately cost OR save you thousands of dollars! Keep in mind the individual you choose will be handling almost every maneuver in the biggest financial investment of your life. Experience, interests and expertise vary from agent to agent, so you should ask VERY specific questions in order to align your own needs with the abilities of your representative. Here's a great list of questions you can use as a guide to find the agent that is right for you!
1. How long have you been involved in residential real estate in this area?
If the agent hasn’t been connected to the residential real estate market for several years, s/he will be out of touch with the cyclical nature of the current market. Your agent must be familiar with trends of the local market and have an eye for the ways in which it will change. This knowledge could mean the difference of thousands of dollars in the long-run.
2. What is your marketing strategy for my home?
A realtor should be able to lay out for you, in detail, a marketing plan to sell your home. Examine this plan carefully. How much money does the realtor allot for advertising? What type of media does s/he use? They should be able to demonstrate the effectiveness of one form of media over another, explaining why their particular marketing strategy will sell your home faster and for top dollar. The realtor should employ current, innovative marketing techniques that indicate creativity and a willingness to market outside of the box. Stay away from realtors who rely on traditional, dated forms of advertising. They simply won’t work in the current real estate market.
3. How do you support a buyer throughout the process?
A realtor should be able to indicate how s/he will support you through each step of the home-buying or selling process, offering you a unique system to suit your needs and goals. Also, ask if a specialist will be available at each level of the sale. Your realtor should always be on hand to answer questions, but the specific resources of an expert can be invaluable during different stages of the process.
4. What other properties has your company sold in my area?
The realtor should be able to provide you with a complete, detailed listing of their own sales in your area, as well as other comparable sales. You should get a clear idea of what you might be able to expect both from the realtor and from the current market.
5. What is your experience with financing options? How would you suggest I approach my own financing plan?
Each buyer requires a different financing strategy. A realtor should be able to suggest a plan catered specifically to your financial background and needs. Don’t just depend on your lender for information and guidance on financing a new home. Let your agent lead the way.
6. On average, how close is the selling price of your listings to their asking price, and how long do they take to sell?
You can contact the Real Estate Board to obtain information on the selling record of an agent. The Board also has statistics on a broader scale, so you can see whether an agent’s selling performance is higher or lower than the board average, and whether s/he tends to sell faster or slower than the board average. Placing the realtor’s performance on a scale will help you get an idea of how much you might expect your home to sell for, and how long it might take to sell.
7. What is your philosophy/method of negotiation and how will you apply it when selling my home?
Your realtor should be able to articulate effective and informed negotiation tactics that demonstrate a commitment to securing the best price for you.
8. Do you have a reference list of clients I could contact?
Do some homework! Choose a few names on the list and call them. The stories of others who have gone through the home-selling process can be a valuable source of information.
Buying a Family Home in Chilliwack
Whether you are looking to buy a condo, townhouse or a single family home, Chilliwack is a great place to raise a family!
Being located 100 km from Vancouver, families choose to live here because our housing is affordable and we have exceptional quality of life! Our population of over 92,000 is growing and we have great recreational options, shopping, and an array of arts and culture. With our lower cost of living, as well as competitive land and housing costs, Chilliwack is also a great place to locate your business. (Source: The City of Chilliwack)
The school district in Chilliwack is growing with 19 elementary schools, 5 middle schools, 1 elementary-middle school, and 3 secondary schools. There is also 1 alternate education, and 1 distance education school. And once your children graduate they don't even have to leave home as the University of the Fraser Valley (UFV) has campuses in Chilliwack, Abbotsford, and Mission as well as regional centres in Hope and Agassiz.
I was born and raised in Chilliwack and my wife and I have also chosen to raise our family is this great city! I have extensive knowledge of the different neighborhoods and areas of Chilliwack and am always familiar with the current homes on the market. Whether your family is large or small, I can help you find the right home for your needs!
Is This the Right Time For YOU to Purchase a Home in Chilliwack?
In September, home sales in Chilliwack and area jumped quite drastically from the same time last year. A total of 281 homes were sold...last year that number was 162...that's a 25% increase! Homes that were priced competitively went the quickest.
With target interest rates currently at 1.75%, this is a great time to purchase your very first home, a move-up home or even your forever home!
Buying a home is exciting but can be a bit overwhelming! It's important to have someone you can trust to make the process as smooth as possible. I am focused on your best interests and pride myself in being the trusted agent you deserve! From referring you to a mortgage professional with an excellent reputation, to helping you locate and access properties for sale that match your specifications, and finally helping you through the myriad of details attending the actual purchase, I am here for you!