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Use these Feng Shui Secrets in your Home to Attract Wealth.

Basically, feng shui decorating means applying the feng shui wisdom to create harmonious energy in any home, be it modern, classical or mid-century. Good feng shui decorating will never scream for attention or fight with the style of the home, but rather create an energy that is vibrant, happy and harmoniously complimenting the already present identity of the home (or office).

Did you know that feng shui, when used properly in your home’s design, can affect your bank account? Here are some basic tips based on the ancient art of balancing energy:

Keep your kitchen clean. Your kitchen is directly related to your ability to attract money. To attract more money, keep the stove clean. Use every burner equally and make sure that they all work. Also remove all the clutter from the kitchen table.

Decorate in red, purple or green. Color has a powerful impact on mood, and red is considered auspicious and powerful. Purple and green are also key colors for attracting prosperity.

Make your front door inviting. If it is hard and confusing to find your front door, then it will be hard for opportunities to make their way into your life.

Lose clutter and add plants and water. To bring in more prosperity, you need to create a vibrant, healthy, inspiring and clutter-free home. Clutter jams up good energy and leads to procrastination. Plants and flowers bring in vibrant life forces. Fountains are important wealth adjustments as they stimulate prosperity and energy and symbolize wealth.

Display wealth symbols. Display feng shui symbols in your environment that speak to you of wealth and abundance. This can be either classical symbols, such as the wealth ship, for example, or your own representation of wealth energy.

Remember, good feng shui does not bring you wealth if you do not strive for it, but it gives you the necessary support to seek your wealth and fortune.

To learn more about Virani Real Estate Advisors or to discuss a property sale or purchase, email us at admin@thevlist.com, visit one of our offices, or call 604-913-1000.

 

 

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REBGV market Update For September 2021 – Supply Is Still Not Enough To Meet Demand

The September 2021 stats released by the Real Estate Board of Greater Vancouver (REBGV) clearly confirmed that the supply of homes was “insufficient” and that the lack of listings was not only limiting buyers’ options, it was also adding upward pressure on prices.

“The summer trend of above-average home sales and historically typical new listings activity continued in Metro Vancouver last month. Although this is keeping the overall supply of homes for sale low, we’re not seeing the same upward intensity on home prices today as we did in the spring. Home price trends will, however, vary depending on property type and neighborhood, so it’s important to take a hyperlocal look at your location and property category of choice before making a home buying or selling decision” – Keith Stewart, REBGV economist.

Home Sales

In September 2021, residential home sales in the region totalled 3,149.

Sales of detached homes reached 950, which represented a 27.9% decrease from the 1,317 detached home sales in September 2020.

Sales of apartment homes reached 1,621, represented a 1.6% increase compared to the 1,596 apartment home sales in September 2020.

Sales of attached homes reached 578, and this represented a 20.8% decrease compared to the 730 sales in September 2020.

Property Type Sept 2021 sales Sept 2020 sales %  +/-
Detached 950 1,317 -27.9%
Apartment 1,621 1,596 +1.6%
Townhouse 578 730 -20.8%

Home Listings

The number of newly homes listed for sale on the MLS in Metro Vancouver was 5,171 for September 2021. This represents a 19.2% decrease compared to the 6,402 homes listed in September 2020 and a 28.2% increase when compared to the 4,032 homes listed in August 2021.

The total number of listings for September 2021 on the MLS was 9,236 – a 2.6% decrease when compared to September 2019  – 13,349, and a 2.3% increase when compared to 12,803 listings in August 2020.

Sales-To-Active-Listings Ratio

This is a good indication of the supply and demand forces in the market. Downward pressure on home prices can occur when the ratio is below 12% for a sustained period, and there is upward pressure when the ratio is above 20% for a number of months.

For all property types, the ratio for September was 27.8%. When broken down by property types, the ratio was:

  • 5% for detached homes
  • 1% for townhomes
  • 7% for condos

Home Prices

The MLS Home Price index composite benchmark price for all residential properties in Metro Vancouver for September was $1,186,100. This represents a 13.8% increase over September 2020 and a 0.8% increase when compared to August 2021.

Click here for a full report.

Working with our real estate professionals will enable you to set realistic expectations that help you achieve your housing goals. If you are looking to buy or sell a home in this  market contact us by email or call us on 604 913 1000.

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September 2021 Founder’s Message

The Conference Board of Canada states that the country’s economy is expected to make a full recovery from the global pandemic. Canada’s economy will rebound strongly and is projected to grow by more than 6 percent this year and 4 percent in 2022. To support in this economic growth and recovery, Canada is expanding its immigration plans and welcoming more that 1.2 million immigrants in the next three years.

As we move into the post-pandemic period, the Canadian government is aiming to invite 401,000 new permanent residents in 2021, 411,000 in 2022 and 421,000 in 2023. These numbers represent 1% of our population and are 100,000 higher than originally planned before the pandemic. These significant increases represent the Canadian Ministry of Immigration’s plan to help drive future growth, create new jobs and strengthen Canada’s long-term prosperity.

Canada is renowned for being a jewel of the world and is a top destination for global talent. From January 2021 to the end of July, Canada admitted 184,215 permanent residents, according to data from the Canadian Immigration department. Immigration Minister, Marco Mendicino, says he’s confident our country will meet its target.

During the pandemic, Canada focused its efforts on providing permanent residency to candidates who were already living in the country. However, with the largely successful vaccination program and travel restrictions being lifted, Canada is set to roll out the welcome carpet once again.

The benefits of immigration to Canada are significant for both newcomers and the country itself. New citizens contribute greatly to our economy by filling in gaps in the labour force, paying taxes and by spending money on goods, housing and transportation. Canadian immigration programs that prioritize highly skilled workers and university educated newcomers have resulted in strong job creation in high wage sectors, including professional, scientific and technical services.

Newcomers are large contributors to innovation and entrepreneurship. The government’s post-pandemic plan is welcomed by the Business Council of Canada who agrees strongly that immigration is essential to long-term economic growth. Even during the pandemic when retail, tourism and the hospitality sector experienced setbacks, the real estate market was red hot. Home prices and sales soared to record highs. Historically low interest rates continue as housing demand remains strong. Last month’s sales were 20.4% above the 10-year August sales average. The MLS Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,176,600. This is a 13.2% increase over August 2020.

Being a welcoming country remains an important advantage. Canada’s post-pandemic immigration policy ensures we remain competitive on the world stage. The new plan substantially increases the number of newcomers to Canada and with it comes innovation, skills, energy and entrepreneurial spirit. We are an ethnically diverse, truly international city that will continue to collaborate with our citizens of the world.

I would also like to take the opportunity to remind you that if you own land for the benefit of a corporation, a trust or legal partnership, to please check with your lawyer or accountant to see if you need to file with the Land Owner Transparency Registry. For pre-existing beneficial land owners in B.C., disclosure must take place before November 30, 2021. Please give me a call if you have any questions. We are always here to provide you with expert advice!

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7 Easy Ways To Save A Down Payment For Your Intended Home

A key point to consider when buying a home is the more you borrow, the more it will cost you to buy the same home. Typically, your mortgage should be secured with a low interest rate and a monthly payment that fits within your budget. This is where the down payment has to be factored in.

Many intended home buyers have difficulty in getting that initial down payment required to buy the home, enabling them to pay a mortgage instead of wasting their money on rent. Here are 7 easy ways to build the down payment:

Make buying a home your priority and change your spending habits to reflect this. The best way to do this is to create a budget that will serve as your blue print towards making the down payment for your home.

  1. Pay off your credit card debts. This has a couple of benefits:

– Applying for a mortgage with too much consumer debt will reduce your chances of qualifying for a mortgage

– Paying off your credit card debts will mean less money will be paid towards the interest payments, leaving you with cash to pay for other expenses.

  1. Buy your groceries and other items using cash. It is harder to spend with cash than with a credit card, and this will ensure you buy less than you normally would if you were using a credit card.
  2. Increase your level of savings. If you get a bonus from work, don’t spend it, but save it towards your down payment, preferably in a savings account you have created for the down payment. If you get a tax refund, do the same.
  3. If you are a first time home buyer, you may be eligible for the government’s Home Buyer’s Plan whereby you can borrow from your Registered Retirement Savings Plan (RRSP). You and your spouse or partner are allowed to withdraw up to $35,000 each from your RRSP. This could be a huge help towards the down payment of your home.
  4. Save money on vacations – if you go on expensive overseas ones, change to local or regional ones that require less money on travel and accommodation.
  5. Reduce the number of cars. Cars can be a very expensive with monthly insurance, fuel and repairs. By removing one car from your household, thousands of dollars can be potentially saved.
  6. Reduce your dining out. Cooking at home is less inexpensive and a healthier option. If you do want to visit a restaurant occasionally, consider using coupon sites like Groupon. Take a packed lunch to work everyday instead of buying a meal.

Looking to buy or sell your home? We are the envy of real estate and with our experienced and knowledgeable real estate professionals, will be able to assist you. Please contact us or let’s chat on 604 913 1000.

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Home Insurance Rates Look Likely To Rise. Here Are 5 Ways To Reduce Your Home Insurance Costs

If you have a mortgage, your mortgage provider will require you to get adequate home insurance cover. This is one of the unavoidable costs involved in owning a home. Recently, there have been a number of climate change disasters that have taken their toll on the insurance industry in the form of weather damage to infrastructure, business and homes.  This will eventually mean that higher premiums are inevitable, even if you were not directly impacted.

Below is a list of points that will help you get the best insurance policy at a reasonable price:

Shop around

There are roughly 200 property and casualty insurance companies in Canada that want your business. Using the power of the internet, there are several online portals and aggregator sites that will do the legwork for you and compare different quotes among different companies. Do you due diligence and chose the one that best suits you (make sure you contact and compare at least 3 quotes).

Hike up your deductible

In the insurance industry, the higher the deductible, the lower the premium. A deductible is the amount you pay towards a claim. Remember to avoid small claims that could raise your premium. At the same time make sure that the deductible is an amount you can afford out of pocket.

Get all the available discounts

Many homeowners ignore the fact that insurers give discounts for factors that lower insurance risk. There are discounts if you have installed smoke and carbon monoxide detectors, energy efficient upgrades, 24 hour monitored alarm systems, being a non-smoker,

Review your policy every anniversary

It’s important to review your policy with your insurance agent every year. There may be changes in your household that could warrant changes in the amount of insurance cover required. Also, you advisor could give you important updates that could affect your cover.

Bundle your insurance

Insurance companies want your business. If you combine your auto insurance and any other insurance with your home insurance, you could get potential savings. You may also want to enquire if you can get discounted rates form your employer, bank, or other association. It’s a good thing to ask and compare.

Home insurance is evolving with the times and there are many factors that impact the insurance market – from the cost of building materials, low interest rates and natural disasters. So it is important that you are always top of mind when it comes to your home insurance.

If you have any questions regarding this topic or any other useful blog topics that we post, please contact us or call us on 604 913 1000.

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View our complete list of Vancouver homes for sale

We have over 25 years of experience selling and marketing Vancouver luxury real estate.

Our attention to detail and the completeness of the range of services we provide, ensures that your Vancouver real estate goals are achieved when you decide to buy or sell your Vancouver Home.

Whether you are looking for a luxury waterfront condo, a beautiful designed custom home or a Vancouver penthouse, your Dream Home is just a click away.

We are unique in that we provide luxury homebuyers and sellers exactly what they are looking for – the truly elite luxury real estate agent.

We are aware how important it is for the Vancouver luxury home seller to find that real estate professional that can market his/her home to the right audience of a very select few buyers.

Our Vancouver homes are also featured in The V List  – a visually rich publication that is published every quarter displaying high quality images and a detailed description of the current properties we are offering for sale.

“We are not in the real-estate business – we’re in the experience business. That, in a very meaningful way, we change the quality and the direction of people’s lives.”

KARIM VIRANI
FOUNDER, VIRANI REAL ESTATE ADVISORS

 

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REBGV Market Update For August 2021 – Home Sales Dwindling Due To Lack Of Supply, But Prices Still Rising.

A key takeaway In the August 2021 market report released by the Real Estate Board of Greater Vancouver (REBGV), was the slowing down of home sales from the frenzied pace witnessed earlier this year, and the fact that prices are continuing to rise.

The supply of homes for sale in the market has steadily declined since June.

According to Keith Stewart, REBGV economist, “August was busier than expected, and listing activity isn’t keeping up with the pace of demand. This is leaving the market under supplied.” He further added that, “Housing supply is the biggest factor impacting the market right now. To help relieve pressure on prices and improve people’s home buying options, the market needs a more abundant supply of homes for sale.”

We are in an election month and Stewart lamented, “..housing affordability has been a key issue in the federal election. We encourage the political parties to focus on policy solutions that will help streamline the creation of more diverse housing options for hopeful home buyers today and into the future.”

Home Sales

There were 3,152 residential property sales registered in August 2021 for the region. The same period last year registered 3,047 sales and July 2021 registered 3,326 sales.

– The number of detached properties sold was 945, a 13.7% decrease from the 1,095 homes sold in August 2020.

– The number of apartments sold was 1,631, a 22.4% increase from the 1,332 apartments sold in August 2020.

– The number of attached properties sold was 576, a 7.1% decrease from the 620 sales in August 2020.

Home Listings

In August, there were 4,032 new listings of detached, attached and apartment properties added to the Multiple Listing Service (MLS) in Metro Vancouver.

This was a 30.6% decrease compared to the 5,813 homes listed in August 2020, and a 7.9% decrease compared to July 2021 when 4,377 homes were listed.

The total number of homes listed for sale on the MLS® system in Metro Vancouver was 9,005, a 29.7% decrease compared to August 2020 (12,803) and an 8.6 % decrease compared to July 2021 (9,850). It seems that the housing supply has become one of the biggest issues facing the market today.

Sales-To-Active-Listings Ratio

This ratio gives a better understanding of the relationship between supply and demand in the market. Downward pressure on home prices can occur when the ratio dips below 12% for a sustained period, and home prices can experience upward pressure when the ratio is above 20% for sustained periods.

For all property types, the ratio in August was 35%. When broken down by property types, the ratio was:

  • 3% for detached homes.
  • 8 % for townhomes.
  • 2% for condominiums.

Home Prices

In August, the MLS Home Price index composite benchmark price for all residential properties in Metro Vancouver was $1,176,600. This was 13.2% higher than August 2020 and a 0.1% increase compared to July 2021.

Click here for a full report.

The real estate landscape in Vancouver is changing dramatically – houses are getting harder to find due to the lack of inventory. If you are buying or selling a home, you need to get in touch with an experienced real estate company such as ours to navigate this market. Contact us by email or call us on 604 913 1000.

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Thinking Of Buying? 5 Reasons Why The Vancouver Housing Market Looks Bullish This Fall

The uncertainty during the pandemic has been responsible for a large increase in real estate prices, as demand continued to outstrip supply. While the summer months have been relatively quiet when compared to the beginning of this year, the fall market could be a very buoyant one, with prices moving up even more.

Here’s why:

Lack of supply

There is a shortage of housing inventory – this is not a new phenomenon in Vancouver. The lack of supply has been a main factor that has been responsible for the month over month decline in sales numbers, and the situation will not get any better for the foreseeable future. This has left buyers with limited options to choose from, and will likely drive prices higher as more buyers enter the market.

Low interest rates

The Bank of Canada has indicated that it will not hike interest rates this year. Interest rates are at unbelievable historical lows, and this has tempted many potential homebuyers to enter the market. In the real estate market, when the cost of borrowing is low, activity typically remains high.

A considerable increase in immigration levels

The Canadian government has set record high immigration levels for the next few years, to address the serious labour shortage this country is facing. The goal is to welcome around 400,000 individuals per year over the next 3 years. Immigrants usually gravitate to major cities, and Vancouver is one of the most attractive cities drawing thousands of immigrants both from within Canada and overseas. We should expect a large surge of immigrants in the next few months as borders open up. Many will be homebuyers.

New wave of renters

The rental market in Vancouver will be impacted by new immigrants moving in, the influx of international students now allowed to physically attend school, and the return of tourism and hospitality workers wanting to be closer to work. More renters will mean a busy rental market and higher rents, leading to more investors purchasing condos. Condo prices should continue to rise.

Immigration from Hong Kong

There are around 300,000 Canadian passport holders in Hong Kong for whom Vancouver is a top destination choice. Many are selling their properties and moving to Vancouver due to the recent political activity there. Hong Kong is ranked as a city with one of the most expensive residential real estate market. This gives Canadian sellers in Hong Kong enough capital to enter Vancouver’s already expensive market, which could drive prices up even higher.

Vancouver’s real estate market is looking very positive and prices will continue to rise. If you are thinking about getting in or out of the market, contact us and leverage the benefit of our decades of experience and trusted advisors.

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Want To Sell Your Home Faster? Get Rid Of Your Clutter!

A well organized home where everything is “as it should be”, is very appealing to prospective buyers. But this is not a particularly easy task as we all have our own perceptions of how to be organized. But we can all agree on one thing – the impact of clutter!

It’s important to contain and reduce the clutter in the home for three big reasons:

  • With more free space, the home gains more square footage.
  • The positive features of the home are showcased.
  • Buyers can easily visualize living in the space.

We are all guilty of clutter. Clutter comes in all different forms and it lingers in most homes. So if you see piles of paperwork, books piled up on top of each other, overflowing closets, jammed drawers that don’t open easily — it’s time to declutter!

Here are some tips:

  1. Start small. Organizing is an evolving process that changes as the needs of a homeowner change. Start small: One room, one closet, and one corner. Just start somewhere! To make it count, tackle the first cluttered area a homebuyer would see as they walk into the home.
  2. Schedule it. Many times a homeowner never starts the decluttering process because of time constraints. Schedule blocks of time of 1-2 hours per day or even just 15 minutes a day, depending on what needs to be organized to make your goal a reality.
  3. Find a home for your possessions. One reason why clutter can build up in a home is if an item is homeless. Creating a place for each item in your home is a crucial part to obtaining an organized home. Of course, keeping the space in order only happens when you return an item back to it’s home after use.
  4. Adopt “good habits.” This carries forward from the previous point. By always returning an item home, you’re building in a maintenance system in your organizing process. Another good habit to adopt is to take 5-10 minutes every night and put items away. This way when you wake up in the morning, the house is ready to show off.

If you are looking to sell you home in this seller’s market, you need a real estate professional that can get you the best possible price. We have a large inventory of prospective buyers both local and overseas. Contact us or call us on 604 913 1000 and let us get you the best price for your home.

 

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August 2021 Founder’s Message

Property investments have had excellent returns in the past few years and it appears that this trend will continue. Current historically low interest rates and record-breaking sales have contributed to these exceptional returns. A strategic real estate portfolio includes a collection of diverse investments to help you achieve your individual goals. Whether you use your property to generate rental income or to wait until the ideal selling opportunity arises, it’s possible to build a robust investment program by paying a relatively small part of a property’s value upfront.

Many types of real estate investments provide income that can be utilized to pay down the mortgage that was used to purchase the property. Like any type of investment, risk and reward often go together. Expanding your portfolio can help diversify risk, generate income and grow long-term wealth. Here are five great ways our highly knowledgeable advisors can help you invest in real estate and build a successful portfolio.

 Investing In A Principal Residence & Adding Rental Income:

Investing in a principal residence is the most popular method as it allows you to live in your home while paying off the mortgage and building equity. Rather than helping to pay a landlord’s mortgage, you are paying down your own and growing your personal wealth – all within the comforts of your own home.

Renovating a basement into a suite, building a laneway home or renting out a spare bedroom are excellent ways to generate valuable extra income. To avoid potentially expensive unforeseen costs, ensure that your accommodation meets the municipal bylaws, codes and property strata regulations.

 Buying A Rental Property:

Buying a residential or commercial rental property is another popular method to generate income and expand your real estate portfolio. The return potential is strong as you can use leverage to purchase the property and then earn revenue from the rent, which can fully or partially offset your mortgage. It also increases your equity as the property values rise. Our advisors can help you find profitable real estate investments in up-and-coming neighbourhoods with new infrastructures such as skytrain lines, hospitals and educational facilities.

It’s important to consider that most lenders require a significant percentage down for the loan, so it can be expensive to buy your first rental property. Also, it’s wise to save several months’ worth of expenses to cover repairs and tenant vacancies. 

Purchasing Luxury Real Estate:

Luxury real estate promises very good returns in the long run as it tends to have steeper price gains than other properties. A luxury home is also typically a better investment than regular real estate or the stock market as it is a tangible asset that provides exclusive lifestyle opportunities. Now is an excellent time to purchase luxury real estate as it’s pandemic-proof due to its location and amenities. Many luxury homes are situated within communities that feature their own world-class golf courses, private beaches and fashionable shopping areas.

Luxury homes can fluctuate in value, but they remain in demand during difficult economic times. This is because they surpass the cost of replacement and fulfill a very specific demand in the real estate market. Investing in luxury real estate can involve building from the ground up or renovating using the latest designs, materials and technologies. You can also rent out your luxury home when you’re not using it to generate a healthy income. 

Buying, Fixing And Flipping:

This method of real estate investment involves purchasing a property that has significant potential to increase in value once it has been renovated. House flipping requires capital and the ability to do, or oversee, the necessary repairs. Therefore, it’s best suited for investors with extensive experience in real estate valuation, marketing and renovation. It’s also important to have knowledge of renovation costs and budgets or your expenses can increase tremendously.

 

Investing In Real Estate Stocks Or Reits:

Real Estate Investment Trusts (REITs) are a profitable hands-off, hassle-free way of investing in the market. REITs are basically dividend-paying stocks that can own a large portfolio of commercial and residential real estate such as hotels, offices, retail centers – and even medical facilities. Many REITs trade on stock exchanges, allowing you to buy them easily with minimum capital.

The best real estate investment decisions are the ones that meet your personal goals. Our highly experienced advisors listen carefully to your investment objectives and tolerance for risk. We understand the complexities of both local and global real estate markets and how to build a successful, strategic real estate portfolio.

Last month’s sales in Metro Vancouver were 13.3 % above the 10-year July sales average and up 6.3% from July 2020. Now is a perfect time to invest. Consider how much time you have, how much capital you are willing to invest and whether you want to be the one to deal with household repairs when they inevitably arise. A successful investor is an empowered investor. We invite you to call us today so we can help expand your real estate portfolio together. 604.913.1000

 

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Vancouver, BC, Canada
Tel: 604 913 1000


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