Whistler Real Estate – First Quarter Market Update

 

Market activity during the first quarter of 2017 stayed consistent with that of the previous quarter but was significantly below that of the same period a year ago.

As was identified in our last report, historically low levels of the number of properties for sale has restricted the amount of activity although there has been no reduction in buyer interest. This has caused values to continue to trend upwards.

Average transaction value in Whistler has increased by over 13% to $1,025,323 since the beginning of the year with single family homes seeing the biggest gain.

At the end of the first quarter the average single family home transaction averaged $2,623,471 due largely to an increased focus on higher priced properties during the winter.

Condominiums also saw a sharp rise in average value to $485,390, while townhomes moved up to $1,062,000.

The luxury market remained active with 12% of all transactions in Whistler being valued above $2,000,000 so far this year.

Market conditions of low supply and high demand will continue to be the factors driving market activity for the foreseeable future. Despite a somewhat unpredictable political environment both internationally and locally, general and local economic conditions suggest continued buyer/investor confidence. Whistler’s strong tourism programs combined with Vail Resorts name recognition will insure continued strong interest in the area.

Now more than ever it is important to work with a full time local advisor who can monitor the constantly changing marketplace and advise you in the nuances of our very specialized marketplace.

3 Pricing Strategies and When to Use Them

Pricing-Your-Home

Pricing-Your-Home

Pricing your home is an important decision and can differ, depending on the outcome you are after. If you are thinking of putting your home on the market, the first step is to have a clear picture on the outcome you are hoping for. Are you looking for a quick sale, perhaps because you have another offer in place that is subject to the sale of your home? Would you prefer to remain conservative and price your home at market value based on research and evidence of similar recent sales in your area? Or would you like to take a more speculative approach? You know the market is hot, and you’re in no rush to sell, this strategy can produce ultimate rewards but also has drawbacks which we will discuss. There are three main ways to price a home for sale, which option is right for you?

Read more 3 Pricing Strategies and When to Use Them

Testimonial – Irene and Carl

We highly recommend Dave to find the perfect place. We had some very unique criteria for our home in Whistler and Dave came through for us.  He had a good understanding of what we were looking for and his knowledge of the different areas in Whistler and insight into the market was invaluable. Both Dave and Alison are very professional and provided us with good information on each of the places we viewed.  Dave and Alison took great care of us during the purchasing process. All our questions were answered promptly and every detail looked after. Dave’s experience in writing up the offer in a hot market was vital in helping us get the place we wanted. A big thank you to Dave and Alison for making whole process go smoothly and finding us the perfect place in Whistler.” ~ Irene and Carl

 

The Importance of Home Inspections and Common Problems

home-inspection-whistler

home-inspection-whistler

When purchasing a new home the importance of a home inspection should never be overlooked. When dealing with what may be the largest capital investment of your life, ensuring you know exactly what you are dealing with is important. When a seller puts their home on the market they must disclose problems and latent defects on the Property Disclosure Statement. In some cases, sellers will even commission a home inspection before their home goes on the market to rectify any problems and have a deeper understanding of the condition of their home to assist with pricing. Under almost all conditions it is recommended buyers organize their own independent home inspection too; this is often worked into the contract as one of the subjects to sale.

Read more The Importance of Home Inspections and Common Problems

Testimonial – Andrew and Courtney

“The patience, expertise and advice provided by Dave and Alison was critical in helping us purchase our first home in a very hot Whistler market. With a constant line of contact we were able to jump on opportunities the moment they arose, which ultimately lead to us purchasing our first home. It ticked almost all the boxes on our wish list and was situated in one of the best family neighbourhoods in Whistler. Dave’s advice when it came to the crunch in negotiations really helped get our purchase across the line. Thanks for making our Whistler home ownership dream a reality.” ~ Andrew and Courtney

The Millennial Buyer Is Here

The Millennial Buyer is here, and although they may not be knocking on the doors here in Whistler just yet, they are expected to make up over 50 percent of buyers from 2018 onwards, overtaking gen xer’s as the largest buyer segment. Millennial Buyers, who were born between 1981 and 1997, are now in their ripe years for buying property with the median age of the millennial homebuyer 29 years old. This group of buyers is vastly different than its predecessors and there are several economic, social and environmental factors that has shaped the way these young adults buy. So what does a Millennial Buyer look like, and will we see an increase of them here in Whistler?

Read more The Millennial Buyer Is Here

Quick and Easy Ways to Increase the Resale Value of Your Home

home-value

home-value

We’re heading into Spring, a popular time for people to sell their homes. If you’ve been considering selling but aren’t sure your home is ready, or are ready to sell and want to know how to get the maximum amount for your property, here are some quick and easy ways to increase the resale value of your home. With the current market conditions here in Whistler properties are selling in record time. That doesn’t mean these simple fixes should be overlooked as they are proven to increase the value of homes giving you more money in your pocket.

Read more Quick and Easy Ways to Increase the Resale Value of Your Home

The Steps to Listing Your Home For Sale

Home-For-sale

Home-For-sale

Spring is quickly approaching which is typically the busiest time of year for people to put their homes on the market. Although Whistler doesn’t follow characteristic real estate trends Spring is, year after year, a popular time to sell, and with the current state of record-low inventory, those that do decide to sell their home this Spring will be richly rewarded. If you have an investment property in Whistler, or are looking to sell your recreational or full-time home, here are the steps to listing your home for sale. These vary slightly depending on motivations, if a property is tenanted and other unique conditions but as a seller this is what you can expect with the process.

Read more The Steps to Listing Your Home For Sale

6 Signs of a Good Real Estate Investment

property-investment

property-investment

Whistler is a unique real estate market with a high concentration of investors and recreational property owners. When purchasing a property for investment purposes additional criteria should be examined outside of purchase price and days on market. As a world-class tourist destination Whistler presents some features that make it much different than other markets in terms of real estate investment. Here we look at six important metrics to assess when considering an investment property. If you are thinking of buying an investment property in Whistler I would be happy to help you qualify the investment and answer any other questions you have.

Read more 6 Signs of a Good Real Estate Investment

Now Is A Great Time To Be A First-Time Home Buyer

If you are a first-time home buyer and haven’t yet heard, the BC government has just launched a new program to help you buy your first home. This coincides with several other programs in place already, to help first-time buyers acquire their first property. If you are a first-time buyer looking to enter the property market in Whistler, these programs can be immensely helpful. I am happy to answer any questions you may have about any of these programs, and can connect you with the information and professionals to ensure you receive your maximum entitlements as a first-time buyer.

Read more Now Is A Great Time To Be A First-Time Home Buyer

Testimonial – Alex and Janet

“I can’t thank you and your team enough. Two years and out and you gave us exactly what I wanted at the time. Another chapter is about to unfold, and I am certain it will be as exciting as the last. I wouldn’t hesitate to recommend you and your team at anytime to anyone looking to purchase.” ~ Alex and Janet

2017: Whistler Real Estate Trends to Watch

We’re just a few days away from the start of another new year, which means that it’s time to pull out the crystal ball and make some predictions for the Whistler real estate market in 2017.

The past year was one for the books: low inventory paired with high demand meant that the Whistler real estate market was as hot as ever. Will the market continue its rise into 2017? Here’s what we could be in for.

db-trends-2017 Read more 2017: Whistler Real Estate Trends to Watch

Testimonial – Cato

“Dave and Alison were a superb team to work with in helping buy my first home. They provided great guidance, were patient and helpful, and once I decided to make an offer, they went into high gear, leading me through the whole process in a way that was effortless and efficient. I appreciated their help with it all, especially in the high-stress Whistler market. I’m super happy with my new home, and I couldn’t have done it without them!” ~ Cato

Testimonial – May and Victor

“We are so pleased with Dave and Alison with our purchases of a condo and a townhome in Whistler.  We contacted Dave out of the blue in Spring 2016 with very little idea of what we were looking for.  He was very patient as we considered our options.  He also put us in touch with Alison, who helped us narrow down our search and then kept us informed of listings that met our criteria.  Alison is very thoughtful, helpful and fair … never pressuring us to take on more than we felt comfortable with.  Dave and Alison both know the Whistler market very well and it shows in their recommendations of listings to view and the prices they negotiated for us.  Because of our great experiences with them, we ended up buying two properties in Whistler in a span of six months.  They made the processes smooth from beginning to end, and even took the extra effort to take care of some small inconveniences after closing.  We highly recommend Dave and Alison to anyone thinking of buying or selling real estate in Whistler.” ~ May and Victor

Testimonial – Trevor and Andrea

“We originally contacted Dave around 3 years ago when we put an offer on a cabin at Gun Lake.  Unfortunately that deal fell through, but I was amazed at Dave’s skill as a realtor.  3 years later we bought 2 condos as an investment in Whistler and I would not have worked with anyone else.  Dave and Alison were very organized with all the documentation and paperwork needed to complete the deal, and being from out of town, they made it easy to complete.  The one thing I really admire is that with Dave’s superior knowledge of the market he was able to get us the best possible deal, never once did he ask us to raise an offer, he stood by what he thought was a fair market price.  I would recommend Dave and Alison to anyone.” ~ Trevor and Andrea

Negotiations – Beyond the Purchase Price

When buying or selling real estate, there is often a lot of focus on the sales price. It is logical that buyers want to pay the lowest price possible, while sellers aim to keep the price as high as they can.

Because price is so important, it is often a key factor when it comes to negotiations. Offers and counter offers go back and forth, each party striking out the previous price and suggesting a new one in its place.

db-negotiations

There’s no doubt that price is a point of negotiation in buying and selling a property – but it is only one of many factors that can be negotiated in the contract of purchase and sale.

Read more Negotiations – Beyond the Purchase Price

Testimonial – Gillian and Munny

“We had such a great experience with Dave and Alison, selling our one bedroom town home.  The documentation process was simple.  The negotiation benefited greatly from Dave’s thorough understanding of the market and fully explaining the buyers requests.  We could not be happier with the sale going through and recommend this team to you.”  ~ Gillian and Munny

Testimonial – Paula and David

“After deciding to list our home in Whistler, I made a series of phone calls to agents and companies in the area that we have noticed over the years and ones who have been recommended to us.  After meeting with Dave initially, I was certain this was  the person we wanted to help us with selling our home.  Dave and his assistant Alison are a wonderful seamless team.  We immediately felt at ease throughout the process of listing, pictures, discussing Marketing and showings.  Listing our home was a difficult decision but Dave and Alison made each step easy. Dave was great to talk things over with and his advice was thoughtful, professional and bang on. Communication was excellent right through to the offer and subsequent sale/close.  We would highly recommend Dave to anyone looking for a Real Estate professional.” ~ Paula and David

Testimonial – Danielle Kristmanson

“Dave and Alison really get it. They deal with busy people, making big decisions every day and its reflected in the type of service they offer. We were buying a condo for staff housing, so it wasn’t a huge emotional investment for us. They understood our needs, presented us with just the right options, were professional, on top of the details, and got the deal done quickly and painlessly. They also linked us with other professionals we’d need in the process. In short, it couldn’t have gone better.” ~ Danielle Kristmanson

Testimonial – Oliver and Jessica

‘Dave came recommended through a friend – and it was a true pleasure working with both Dave and his team. He quickly understood our needs and had excellent insights into the local areas and communities. The result was perhaps one of the swiftest and easiest completions we have ever had!’ ~ Oliver and Jessica