buying a home

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How SilverBeam Homes can help you in selling your existing home

by Bevony on July 29, 2020 No comments

A lot has changed since the start of this pandemic. People have lost jobs, or are now working fewer hours. While many economies are reopening, there looms the need for further lockdowns. It is obvious that this pandemic is not going anywhere soon, and we now have to adapt our life as we know it to meet these needs. 

While everybody’s situation is different, housing needs are changing for one reason or another. Some persons are finding their family counts reduced as they lose loved ones to the virus while others are seeing an increase as cohabitating becomes are a more affordable and feasible option. Whether you need to go up in the house or go down in the house we can help you. 

How Can SilverBeam Homes Provide You with a Housing Solution?

Sell your old/current home to us and let us help you to construct a new home based on your specific needs. Here, at SilverBeam Homes, we are home builders, but in this crisis, we want to meet you more than halfway. We want to help you with everything from selling your current home. That way you can focus more on the things that need your attention, and we will get the work done for you. 

What You Need to Know Before Buying or Selling a Home 

Buying/Selling a home

Buying/Selling a home was always a huge undertaking. Imagine now doing both in a pandemic! Now more than ever, you have to make sure that you make a very wise choice. Are you currently at that place (between a rock and a hard place) considering the sale of your home and moving your family into a different home?

If your needs have changed, then you have a good enough reason to sell and repurchase or have us build you a new home. The advantage of building a new home is that you now will have the opportunity to have just what you and your family needs. 

Why You May Need to Sell your Home

  1. Your current location has become unsuitable. If your job situation has changed and you now need to travel further for work, it may make sense to move. With many people having lost their jobs in the pandemic, we are now having to really become more flexible and that may mean taking a job that is further away. If you are the sole breadwinner, moving closer to cut commute time could help you better manage your finances. 
  1. Your household as shrunk or grown. Your current house may become too expensive to maintain in the event of a loss. Or maybe your extended family will now need to come live with you or vice versa. Either way, if your space needs have changed, then you will benefit from purchasing a new home. 
  2. Leave sad memories behind. If you lost a family member during the pandemic, even if your space needs haven’t changed, you may want to leave the bad memories behind. If you are financially able to make the move, then selling your current home and moving into a new one may not be a bad idea. 

Real Estate and “Subject To” Clauses 

“Subject To” clauses in contract negotiation are your safety hatch. They allow you a means of escaping a contract in the event that anything goes wrong. You can find a list of clauses from The Real Estate Council of British Columbia’s website. The most common clauses you may come across are;

  1. Subject to Financing 

This type of clause limits your ability to negotiate. The buyer cannot remove this clause at the offer/counteroffer phase. It means the buyer needs a mortgage, so they are making the offer with the hope that they will receive the necessary financing to be able to purchase your home. 

  1. Subject to Inspection 

This clause can be easily negotiated since an inspection takes on average three days to arrange. If you want to get your house sold faster you can ensure that the inspection is completed a lot quicker so the buyer knows exactly what they are getting into. You can even have the inspection done and report ready if a buyer requests it. 

  1. Subject to Sale 

This clause gives your buyers a particular amount of time in which they need to sell their current home. Chances are your buyer can’t afford to be paying for two different homes. So you want to include some time in the clause for them to get their home sold, so they can purchase yours. This is usually a period of 4 to 6 weeks. 

What We Offer 

If you opt to complete your sale and repurchase with SilverBeam homes we can help provide a hassle-free process flow. With us, you don’t have to worry about listing with a realtor. We will offer a cash payment for your house and ensure a speedy closing process. If the funds from your home cannot cover the cost of your new home we can help you by putting you in touch with finance professionals to get the additional funds. 

Contacts us today to recreate your reality and have a home that allows for the execution of our new normal. 

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BevonyHow SilverBeam Homes can help you in selling your existing home

Surrey Housing Market Looking Stable

by Bevony on March 11, 2020 No comments

With a lack of real estate investors in Surrey, there has now come to be a more stable housing market. Many houses in Metro Vancouver’s high-status neighborhoods are now looking more affordable than they have been in years.

Housing Market

With Surrey not on the radar of wealthy domestic and offshore investors, the prices have benefited from this. The city continues to grow rapidly though. The majority of the market is made up of new immigrant buyers. This is followed by native-born immigrants simply searching for a place to call home. In contrast, other high-end neighborhoods have seen a lot of instability since 2017.

The statistics show that house prices in posh neighborhoods dropped approximately 1/5th in one year. This was also true for a variety of neighborhoods in Richmond. In contrast, the housing prices in Surrey remained very stable. This is especially true for the Northern Section where homes often sell for lower than $1 million.

Other Stable Neighborhoods

When prices fell up to 25% this year, luxury homes in some West Vancouver neighborhoods fell. These included Upper Caulfield and Chartwell prices in other North Surrey neighborhoods. The prices only dropped between 1 and 5 percent. Surrey wasn’t the only neighborhood to escape the ridiculous price drops. Other neighborhoods that remained stable include:

  • North Delta’s Kennedy West
  • The District of Langley’s Brookswood
  • Fort Langley
  • New Westminster’s Queensborough
  • Brow of the Hill
  • Lynn Valley
  • Seymour Heights

North Surrey Housing Market

North Surrey stood out among everybody thanks to the fact that their stability in prices was seen all across the board.  The affordability of the area is one of the biggest factors. This is a factor that is good for both buyers and sellers. With a population larger than half a million, the area is one of Canada’s fastest-growing municipalities. Each year the area expands by approximately 2%.

The Surrey market is largely made up of locals, but it is not the same for the West Vancouver market. While South Asian immigrants also find the affordability of houses here desirable this is not driving up prices as they don’t want a 20 million dollar home. Figures from Census Canada show that the residents of North Surrey that have roots in India are between 40 and 60%. This is especially true in Kennedy, Fleetwood, and Newton.

The area is attractive to immigrants from Pakistan and India because of the cultural diversity of the area. The area allows them a certain amount of familiarity and satisfies the needs of their culture. They will find temples, mosques, and gurdwaras. They will also be more likely to have family in these areas as well. Coming here and finding real estate for sale at an affordable price means they can lay down stakes sooner and integrate into society faster and easier. Houses can be purchased with smaller down payments which is great for first-time homeowners who often are left vulnerable to the financial stress test of the government to determine their eligibility for a mortgage.

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BevonySurrey Housing Market Looking Stable