January Market Update
2018 saw tighter mortgage qualification rules, higher mortgage rates, and a foreign buyers’ tax that DOES NOT apply to the Sunshine Coast.
What can we expect for 2019?
Predictions vary from a flat Vancouver market for the rest of the year to prices continuing to fall for the foreseeable future. As the Sunshine Coast is impacted by the Vancouver market, I anticipate seeing more inventory and a flattening of prices.
There’s still lots of demand for Sunshine Coast real estate but it’s tempered by the aforementioned mortgage rules. Buyers want your property but can only offer what they’ve been pre-approved for.
Buyers will need to exercise patience as they wait for sellers to accept this new, lower priced environment. Conversely, sellers should start to consider that prices likely aren’t going up anytime soon and if they really want to sell, they may need to lower their expectations in regard to price.
The Silent Killer
Called “the silent killer,” CO is a tasteless, colourless, and odourless gas that inhibits the blood’s capacity to carry oxygen. This, in turn, can be fatal. That’s why it’s vital that your home have a CO detector.
You may be thinking, “This is all well and good, Tony, but my home has electric heat. Isn’t a CO detector for homes with furnaces?”
It’s true that carbon monoxide poisoning is often associated with malfunctioning forced air furnaces but a less well-known fact is that CO is the product of incomplete combustion. This means things like wood burning stoves, fireplaces, and gas stoves all create CO. Even vehicles that are kept in an attached garage could be a source of CO poisoning.
Install a CO detector in every sleeping space and on every level of your home and regularly have your chimney and heating system inspected by a professional.
If you experience symptoms of CO poisoning, get out into fresh air and call 911.
Here is a link to symptoms: https://www.kidde.com/home-safety/en/us/co-safety/carbon-monoxide-alarm-faqs/
Tony Browton’s blog can be found at http://www.truebluerealty.ca/blog