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December 2020 Edition

Hi <<First Name>>,

Last Month's (November 2020) Market Activity

Greater Vancouver home sales in November 2020 dropped compared to October 2020 but still above seasonal norms! 🔥🔥🔥 The supply of homes for sale is lagging behind pace of demand. The market now favours home seller's in many segments!
Prices: MLS Home Price Index benchmark price across all residential properties in Greater Vancouver is $1,044,000. Prices decreased -0.1% from October 2020 and increased +5.8% from November 2019.
-16.9% from October 2020 

+22.7% from Nov 2019 (last year)

+24.6% above the Nov 10-year sales average

Click here for the November 2020 Greater Vancouver Stats Package
New Listings
-27% from October 2020

+36.2% from Nov 2019 (last year)

Average days on market for all property types took 
2-6 days longer to sell largely due to the BC stay-at-home orders and limited home showing schedules.
Greater Vancouver & Fraser Valley = a Sellers' Market 
Benchmark Home Prices:
Greater Vancouver in Nov 2020
Single detached homes: $1,538,900
Townhouses: $814,800
Condos: $676,500
Article: HERE
Fraser Valley in Nov 2020
Single detached homes: $1,061,500
Townhouses: $570,100
Condos: $435,900

Click here for the November 2020 Fraser Valley Stats Package
Good News: strata insurers stop pricing tactic linked to exorbitant condo premiums
Starting on Jan 1, 2021, the practice of 'best terms pricing' on strata insurance will be eliminated! Strata property owners will see major savings on insurance premiums with this one change toward a positive direction!

Featured New Development: Parkside at Lynn
I recently previewed the soon-to-be released 1, 2, 3 bedroom homes by Mosaic Homes, nestled in the heart of the Lynn Valley neighbourhood in North Vancouver.  Beautiful larger homes with natural high-quality and earthy finishes, opening into Kirkstone Park! Available early 2021.
Send me more details on this presale!
City of Vancouver Empty Homes Tax to Increase to 3% 
The City of Vancouver will increase the Empty Homes Tax (EHT) rate to 3% for the 2021 tax year.

If you live in the City of Vancouver, don't forget to make your EHT declaration for 2020 by February 2, 2021

Make your declaration
Burnaby Mountain Gondola - Have your say!
Take the survey by Dec 14, 2020 to provide your feedback on the 3 proposed routes for the future Burnaby Mountain Gondola connecting the SkyTrain to Simon Fraser University! Link HERE
Claim the $400 work from home benefit on your 2020 Income Tax return from CRA

Important Reminders 
December 10: Hannukah 
December 24: Christmas Eve 
December 25: Christmas Day 
December 26: Boxing Day
December 31: New Year's Eve
January 1: $6,000 TFSA contribution room - top up! 
Mortgage Record Lows :exploding_head:
Uninsured variable-rate offers
5-year variable: 1.29% 
5-year variable refinance: 1.34%

Other record-low rate offers
4-year fixed: 1.49% (high-ratio)
5-year fixed: 1.39% (high-ratio)
5-year fixed: 1.59% (uninsured)
5-year fixed: 1.64% (refinance)

**Ask me how to get these rates today!**
Thank you!
This is my last newsletter of 2020 and it's been a sheer pleasure creating this for you. I want to express my undying gratitude for your recommendations and referrals this year - they mean so much to me as a small business owner. I understand the risks of your reputation associated with each referral, but do rest assured that your people will be treated with the utmost care by me. Wishing you a very happy and safe holiday season and the best in the New Year!  

Cari Mai
Copyright © 2020 Cari Mai Real Estate, All rights reserved.

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