Buy Condo

A FAIR WAY TO ACCESS YOUR HOME EQUITY

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Fraction started with a simple idea: could there be a fairer way to help people access the equity in their homes? The answer is yes and with a program uniquely available only to BC, Ontario and Washington residents at this time. Access up to 50% of your hard-earned equity in tax-free cash without selling your home. Their motto is “spend a little, invest a lot, and save some for a rainy day.”

Coming from a technology background, the Fraction team approached the problem in a completely different way compared to the financial veterans who dominate the industry. They looked at the problem through your perspective as a home owner. Learn more HERE .

Buy a condo in vancouver

Millennials: The Next Generation of Condo Buyers

The condo market is very hot now, and millennials are the next generation of buyers. This group is highly interested in condo living, and they are the ones who are investing in these units, so if you are looking to sell, it’s important to understand your target audience.

A very large percentage of first-time homebuyers are millennials, and knowing the features they are interested in will help you get your home ready for a sale. You must first realize that the average millennial is very different from past homebuyers. Many of them are not interested in fixer-uppers when searching for a condo. They don’t want to repaint a kitchen or make any significant upgrades and want a move-in-ready unit instead. Condos that are in tip-top shape
will attract millennial home buyers, so you have to make sure your home is move-in ready, as this will be far more appealing to this group, and you may also be able to get your hands on a better asking price as well.

Millennials are also very interested in modern condos, so if your unit is too traditional or outdated, you have to work on this aspect. An open concept floor plan, great closets and modern bathrooms will stand out, and millennials will be quick to make an offer when they see these upgrades. Traditional homes will not be very appealing to this group, so your home may not get as much interest, which would work to your disadvantage. The kitchen and bathrooms
are extremely important, so make the necessary upgrades if you want to sell your condo fast and increase its value.

Open houses have always been effective, but many millennials prefer looking for homes online, so you have to make sure your profile is both attractive and appealing if you are targeting millennials. Your online profile must highlight the best aspects of your home through professional photographs, which must be bright and eye-catching. Professional quality is a must, and do not alter the photos in any way as millennials will not appreciate this aspect. It’s also important that you feature a short video of your home so that viewers can get a look at each room but make sure you do not exceed the two to three minute mark. A lot of millennials will locate potential homes online, so you have to have a strong online presence, and your profile must generate interest if you want to receive offers.

Location is another very important factor that millennials will consider, and Cherry Yeung will help you in every regard. You must work with a reputable real estate agent, and I will help you buy the perfect condo because I listen to my clients and their needs and show them properties accordingly. Having an experienced realtor by your side will make a world of difference, and my knowledge will ensure you find the exact condo you are after. I can also show you the houses that are for sale in the Burnaby, Vancouver and Richmond areas, so contact my office today for more information!

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The Secret to Finding Pocket Listings:Never Miss A Great Off-Market Property

Pocket listings are sold off-market homes before the property is officially listed, and many people consider this to be the inside scoop of the real estate world. Regardless of whether you are a buyer or a seller, you may be wondering how to find these listings, and the following guide will provide you with more information.

Pocket listings really come down to word of mouth or private listing networks, which is why this is considered an off-market listing. This generally occurs whenever a listing agent sells a home through their connections with other real estate agents as opposed to selling it on the open market. A pocket listing would allow potential buyers to view and buy a home before it goes on the market and is not marketed like a traditional listing, so staging or professional photography are not part of the process.

You must weigh the pros and cons of pocket listings because there are benefits and disadvantages to this method, and being aware of this information will help you decide whether or not an off-market listing is right for you. If you are a buyer, you will experience less competition because fewer people will know about the home, which would be great for you and your offer. You would also experience less stress and more privacy. If you are a seller, there would be less traffic through your home and no need for an open house, and you would be able to leave your house as-is because its condition would not matter, so you wouldn’t have to repair your roof or update your landscaping.

As a seller, you also have to consider the disadvantages, and less traffic may mean fewer opportunities for more offers to come in. A lot of pocket listings are also a dual agency, so the same agent may be acting for both the buyer and seller and you may not feel like they have your best interest in mind.

You must work with a real estate agent you can trust because they will guide you through this process and help you find your dream home. They need to have connections to know the inside scoop as this is the only way you will come across pocket listings. You can also do your own research online, so get on your laptop or computer and hunt for off-market listings because some homeowners will feature their homes through different websites, and you can get lucky if
you look online. Pocket listings are limited, so contact your agent right away and act fast if you see something you like.

If you are looking for a hidden gem, Cherry Yeung can help. Our office has access to the houses and condos for sale in the Richmond, Vancouver and Burnaby areas, and you can contact us regardless of whether you want to buy or sell. You must work with a reliable realtor, so if you are looking for a reputable and experienced real estate agent, contact my office today!

Richmond Condos

3 Ways To Get Your Credit Ready For Buying A Home

There are many ways to prepare when you purchase a new home but the most important thing is making sure that your credit is ready and stable. You want to be in a financially stable place when you are purchasing a new property. It will help you save money in the future from interest, and you won’t have to worry about paying thousands of dollars on your income bills every month. There are many ways to get your credit ready when you buy a new home, and some are easier than others. Remember that this will help you stay organized and responsible if you are moving for the first time.

  • Always make sure to pay your bills on time. This will save you less time from having to speak with banks or financial advisors. Many people may see monthly payments as too much or something that they cannot handle; if this is the case, then you might want to pick up more hours at work or start a savings account.
  • Always make sure to pay your bills on time. This will save you less time from having to speak with banks or financial advisors. Many people may see monthly payments as too much or something that they cannot handle; if this is the case, then you might want to pick up more hours at work or start a savings account.
  • Always make sure to pay your bills on time. This will save you less time from having to speak with banks or financial advisors. Many people may see monthly payments as too much or something that they cannot handle; if this is the case, then you might want to pick up more hours at work or start a savings account.

There are many ways to get your credit ready when you plan on purchasing a new home, some of these tips can actually end up saving you tons of time and money in the future. Keeping perfect credit scores or history is not always going to be easy, that is why you should find people who will help you. If you are looking for real estate agents or condos in Burnaby, contact Cherry Yeung.

Buy a condo in vancouver

Tips Before You Buy a Condo

Buying a condo can be one of the most exciting purchases in your life, but keep in mind that it will be different than purchasing a single-family house. There are separate rules and regulations that apply to condos, and the life you will live in a condo is different than in other types of housing setups. This is why it’s important for you to have a good understanding of what you will be getting yourself into when you pick a condo over a house. These are the most important tips you should follow before you sign the purchase agreement for a condo.

Think About The Life That You Want

Condos are unique because they offer a different lifestyle than a traditional detached home. You won’t need to worry about doing any yard work, but you also won’t have access to a private backyard space for your pets or kids. Condos also come in many different shapes and sizes, so you should think about your needs and the life you want to live before you buy one.

Think about how you will be sharing walls, floors and ceilings with other people, as well as common areas. This can lead to neighbor noise that you might not want to listen to during the day or night. Most condo buildings are pretty insulated to prevent the noise from leaking out but older buildings might not be. Keep in mind that you will probably experience hallway noise in most condos.

Work With An Experienced Realtor In Condos

The process of buying a condo is different from buying a house, so it’s good to work with a real estate professional who has the experience and knows what they’re doing. This way, you won’t miss out on getting valuable expertise and information that is important for the deal and buying process. There are many other documents and issues you want to understand before you make your official condo decision. A realtor who has experience can be the greatest choice when going over this information.

Plus, a real estate agent who is familiar with all of the condos in your local area will know the problems any certain building will have and which ones don’t, so you are better able to choose a location that is safe and comfortable in the long term. Older condo buildings can be more problematic, but this is a matter of how well they are being taken care of. When buildings have good, reliable maintenance, then you are not likely to see a lot of issues with them, even if they are older. Don’t hesitate to hire a home inspector for your condo during the purchasing process.

Going for a brand new condo development can also present a number of different issues, especially if the builders cut corners while they constructed it. The company that manages the condo will also matter, and an experienced realtor will know what buildings you want to consider and which to avoid to reduce the chances of going through problems with your new home.

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How to Buy Your Dream Home During Competing Offers?

You may have heard of buyers house-hunting for a while and when they do find the perfect house for their needs, it may be beyond their budget or they may lose it to a higher bidder. How heartbreaking is that? How do you make sure it never happens to you? 

Well, the truth is that you can’t be sure! In a seller’s market, it’s common to find not just one or two but as many as ten buyers eyeing the same house at once, if it’s a well-staged one in a coveted neighbourhood that doesn’t have many listings at the time. Multiple offers can be placed within minutes of each other. It’s easy to lose out to the highest bidder. Although you can’t change trends, there are a few ways to turn the situation around in your favour. 

5 Steps to Sweeten the Deal

Firstly, don’t feel defeated before you’ve fought the war. Load up your arsenal and think smart with the help of a reliable buying agent. Here are a few tips to sweeten the deal. 

  1. Large Down Payment: Any buyer can attempt to pull the carpet from under your feet with a hefty promise but not everyone is in a position to pay an instant down payment. Seasoned sellers are aware of that and prefer to sell to a committed buyer instead of one who makes promises but doesn’t see them through. Show them that you’re serious. Offer an earnest money deposit right then, instead of later during the closing, as part of your down payment. It might make a difference. 
  1. Pre-Loan Approval Letter: It helps to win the trust of the seller so they consider your offer over others. Request your lender for a loan pre-approval letter to strengthen your case.
  1. Give them Time to Move: Many buyers insist on instant possession, which may not always be possible for the seller. If they are selling and looking to buy at the same time, the challenges multiply. Be considerate and give them some time to move out after closing the deal without expecting any benefits. Waive some contingencies to make it easier for them. Have a word with your agent for suggestions to make the offer more attractive.
  1. Best Offer: In a seller’s market with competitive bidders, it’s wise to avoid negotiating if you really like the house. Instead, make the highest offer possible, perhaps over the listing price if you can to clinch the deal. An experienced buying agent will know the comparative market analysis to determine the price range so you don’t pay over the market value, even if you pay a little extra. Find out how many competitive offers you are bidding against. If there is just one buyer instead of 10, you are in a better position to win the home of your dreams with a slightly better offer. Sell your home before you buy if you have a home to sell so it’s easier to make a better offer. 
  1. Good Attitude: If you are a first-time homebuyer, don’t request for personal items from the seller or expect them to pay your closing costs. Kindness and niceness go a long way. Encourage your agent to be friendly with the seller’s agent as well. A good attitude wins no matter what the situation. Avoid a bidding war. If you still lose the deal, accept it graciously, and trust your agent to find you another home. You never know, that may turn out even better for your needs.

Are you looking to buy, sell or rent a home or commercial space in the Greater Vancouver Area? Real estate matters can be complex and time consuming but specialists can make the process more rewarding. Contact Cherry Yeung and her experienced team for the best solutions for you. We work night and day to meet your goals within your budget.