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	<title>Blog &#8211; Vancouver Mortgage Broker &amp; Realtor</title>
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	<link>https://jessijohnson.ca</link>
	<description>Vancouver Mortgage Broker &#38; Realtor</description>
	<lastBuildDate>Tue, 25 Aug 2026 21:31:41 +0000</lastBuildDate>
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		<title>End pet bans? A bad idea?</title>
		<link>https://jessijohnson.ca/end-pet-bans-a-bad-idea/</link>
					<comments>https://jessijohnson.ca/end-pet-bans-a-bad-idea/#respond</comments>
		
		<dc:creator><![CDATA[jessijohnson]]></dc:creator>
		<pubDate>Tue, 25 Aug 2026 21:31:39 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<category><![CDATA[Jessi Johnson]]></category>
		<category><![CDATA[mortgage broker Vancouver]]></category>
		<category><![CDATA[pet ban]]></category>
		<category><![CDATA[real estate flip]]></category>
		<category><![CDATA[realtor North Vancouver]]></category>
		<category><![CDATA[realtor Vancouver]]></category>
		<category><![CDATA[Surrey mortgage broker]]></category>
		<category><![CDATA[Surrey realtor]]></category>
		<category><![CDATA[Vancouver mortgage broker]]></category>
		<category><![CDATA[Vancouver Realtor]]></category>
		<guid isPermaLink="false">https://jessijohnson.ca/?p=3970</guid>

					<description><![CDATA[Should landlords in British Columbia be forced to accept pets in rental properties? Several organizations, including the BC SPCA and First United, are calling on the province to restrict or eliminate “no-pet” clauses in rental housing. Advocates argue that renters should never have to choose between finding a home and keeping a beloved animal—and that [&#8230;]]]></description>
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<p class="wp-block-paragraph">Should landlords in British Columbia be forced to accept pets in rental properties?</p>



<p class="wp-block-paragraph">Several organizations, including the BC SPCA and First United, are calling on the province to restrict or eliminate “no-pet” clauses in rental housing. Advocates argue that renters should never have to choose between finding a home and keeping a beloved animal—and that housing restrictions have contributed to thousands of animals being surrendered.</p>



<p class="wp-block-paragraph">I understand that argument. I genuinely love animals.</p>



<p class="wp-block-paragraph">But this debate is also about property rights, financial risk and responsibility.</p>



<p class="wp-block-paragraph">Rental-property owners pay the mortgage, property taxes, strata fees, insurance, maintenance and repair costs. When something goes badly wrong, a pet-damage deposit of only half a month’s rent may not come close to covering the bill.</p>



<p class="wp-block-paragraph">In this video, I share the story of a tenant’s adorable puppy that caused devastating damage to one of my brand-new condos. The urine damage became so extensive that the flooring buckled, the hardwood warped and portions of the drywall, baseboards, cabinetry and trim had to be replaced. Today, I estimate the repairs could easily cost approximately $20,000.</p>



<p class="wp-block-paragraph">We also discuss the possible unintended consequences of removing landlords’ right to prohibit pets:</p>



<p class="wp-block-paragraph">• Higher rents<br>• More selective screening<br>• Landlords removing suites from the rental market<br>• Small investors selling their rental properties<br>• Even less rental housing being available</p>



<p class="wp-block-paragraph">There may be room for compromise—particularly when distinguishing between large institutional rental corporations and a homeowner renting out one condo or a basement suite. Tenants deserve choices, but I believe property owners should retain choices as well.</p>



<p class="wp-block-paragraph">What do you think?</p>



<p class="wp-block-paragraph">Should BC prohibit no-pet clauses—or should landlords keep the right to decide what risks they are prepared to accept?</p>



<p class="wp-block-paragraph">Share your opinion in the comments, but please keep the conversation respectful. There are legitimate concerns on both sides of this debate.</p>



<p class="wp-block-paragraph">If you own rental property, are considering becoming a landlord or want to invest in British Columbia real estate, subscribe for more discussions about housing policy, real estate investing and protecting your bottom line.</p>



<p class="wp-block-paragraph">And if you’re serious about building long-term wealth through real estate, grab a copy of my bestselling book, <em>Rockstar Real Estate Investing</em>.</p>



<p class="wp-block-paragraph">Protect your investment. Know your risks. Think long term.</p>



<p class="wp-block-paragraph">#BCRealEstate #BritishColumbia #LandlordBC #RentalHousing #PetFriendlyHousing #RealEstateInvesting #PropertyRights #BCHousing #LandlordTips #VancouverRealEstate</p>
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			</item>
		<item>
		<title>How to Find the Best Tenants</title>
		<link>https://jessijohnson.ca/how-to-find-the-best-tenants/</link>
					<comments>https://jessijohnson.ca/how-to-find-the-best-tenants/#respond</comments>
		
		<dc:creator><![CDATA[jessijohnson]]></dc:creator>
		<pubDate>Sat, 08 Nov 2025 16:47:06 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<guid isPermaLink="false">https://jessijohnson.ca/?p=3898</guid>

					<description><![CDATA[Picking the right tenant can make your rental profitable and peaceful. Picking the wrong one? Late rent, damage, and drama. In this video I show you exactly how to attract, screen, and approve A+ tenants—even in a competitive British Columbia market. Stick around to the end for the #1 screening mistake landlords make and how [&#8230;]]]></description>
										<content:encoded><![CDATA[
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</div></figure>



<p class="wp-block-paragraph">Picking the <em>right</em> tenant can make your rental profitable and peaceful. Picking the wrong one? Late rent, damage, and drama. In this video I show you exactly how to attract, screen, and approve A+ tenants—even in a competitive British Columbia market. Stick around to the end for the <strong>#1 screening mistake</strong> landlords make and <strong>how to get tenant credit checks for free</strong> (details in the video).</p>



<h3 class="wp-block-heading">What you’ll learn</h3>



<ul class="wp-block-list">
<li>How to position your suite so great tenants <em>want</em> it</li>



<li>Pro-level marketing that stands out (photos, copy, floor plans, syndication)</li>



<li>A fast pre-screening system that filters time-wasters</li>



<li>What to look for at showings (subtle red flags)</li>



<li>A rock-solid application + screening checklist (credit, income, ID, references)</li>



<li>Deal-breaker red flags and when to walk away</li>



<li>How to set expectations so good tenants stay good</li>
</ul>



<h3 class="wp-block-heading">Chapters</h3>



<p class="wp-block-paragraph">00:00 Intro<br>00:38 Attracting the Right Tenants Starts with You<br>02:06 Market It Like a Pro (photos, copy, syndication, floor plans)<br>04:21 Pre-Screening Questions that Save Time<br>06:10 In-Person Showings: Green/Red Flags<br>08:03 Application &amp; Screening Checklist (credit, income, references)<br>10:27 Major Red Flags to Watch For<br>12:05 Bonus: Set Clear Expectations Up Front<br>13:20 The Biggest Mistake Landlords Make<br>14:25 How I Can Help (Free credit checks for clients in my database)</p>



<h3 class="wp-block-heading">Quick checklist (copy/paste)</h3>



<p class="wp-block-paragraph"><strong>Prep the unit:</strong> clean thoroughly • fix anything broken • fresh paint/updated hardware • stage for photos<br><strong>Marketing must-haves:</strong> pro photos (natural light + key features) • detailed description (rent, sqft, amenities, area highlights) • clear criteria (income, credit, smoking, pets, references) • post everywhere (Craigslist, Kijiji, Facebook Marketplace, Rentals.ca, social) • include a floor plan (ask a Realtor for past MLS floor plans)<br><strong>Pre-screen questions:</strong> monthly income • occupants • employer/role • pets • why moving • commute checked? • smoking/drinking • criminal record<br><strong>At the showing:</strong> punctuality • communication • respect for property • general cleanliness • their vehicle condition • trust your gut<br><strong>Screening items:</strong> full application • <strong>credit check (Equifax/TransUnion)</strong> • employment verification (pay stubs/job letter) • <strong>previous-previous</strong> landlord reference (not just the most recent) • government ID<br><strong>Red flags:</strong> missing docs • pressure to skip steps • “need to move in today” • big cash up-front offers • refuses credit check • inconsistent story • trashes prior landlord<br><strong>Set expectations:</strong> rent due date &amp; late policy • maintenance reporting • visitor/pet rules • property care • move-out process • give a welcome letter/binder</p>



<h3 class="wp-block-heading">Want help?</h3>



<p class="wp-block-paragraph">Nervous about picking the wrong tenant? I can help. If you’re already in my client database, I can handle screening—including <strong>no-charge credit checks</strong>—and walk you through the process. Not in the database yet? <strong>DM or email me</strong> to get added and we’ll get your place rented <em>right</em>.</p>



<p class="wp-block-paragraph">📩 DM me or email (see channel About)<br>📞 Book a quick call (link in channel header)<br>📘 Grab my book <strong>Rockstar Real Estate Investing</strong> on Amazon</p>



<hr class="wp-block-separator has-alpha-channel-opacity"/>



<p class="wp-block-paragraph"><strong>Disclaimer (BC):</strong> This video is for educational purposes only and isn’t legal advice. Tenancy rules vary by province/municipality—verify requirements with the <strong>Residential Tenancy Branch</strong> and applicable human rights legislation before implementing any screening criteria.</p>



<p class="wp-block-paragraph">#landlording #tenantScreening #realEstateInvesting #BritishColumbia #LandlordTips #RentalProperty #PropertyManagement #Cashflow #BCRealEstate #Investing</p>
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			</item>
		<item>
		<title>Repercussions of walking on a pre-sale investment &#038; how to save your deposit</title>
		<link>https://jessijohnson.ca/repercussions-of-walking-on-a-pre-sale-investment-how-to-save-your-deposit/</link>
					<comments>https://jessijohnson.ca/repercussions-of-walking-on-a-pre-sale-investment-how-to-save-your-deposit/#respond</comments>
		
		<dc:creator><![CDATA[jessijohnson]]></dc:creator>
		<pubDate>Tue, 21 Oct 2025 14:07:06 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<guid isPermaLink="false">https://jessijohnson.ca/?p=3890</guid>

					<description><![CDATA[Are you rethinking your pre-sale purchase? With rising rates, construction delays, and prices dropping in some areas, many buyers are asking the same question: “What happens if I walk away?”&#160; In this episode, I break it all down:&#160; 👉 Why so many buyers are walking from pre-sales right now&#160; 👉 What your developer contract actually [&#8230;]]]></description>
										<content:encoded><![CDATA[
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</div></figure>



<p class="wp-block-paragraph">Are you rethinking your pre-sale purchase? With rising rates, construction delays, and prices dropping in some areas, many buyers are asking the same question: “What happens if I walk away?”&nbsp;</p>



<p class="wp-block-paragraph">In this episode, I break it all down:&nbsp;</p>



<p class="wp-block-paragraph">👉 Why so many buyers are walking from pre-sales right now&nbsp;</p>



<p class="wp-block-paragraph">👉 What your developer contract actually says (and why it matters)&nbsp;</p>



<p class="wp-block-paragraph">👉 The real consequences of walking away — including losing your deposit and possible lawsuits&nbsp;</p>



<p class="wp-block-paragraph">👉 My personal $200,000 loss story (and the hard lessons I learned)&nbsp;</p>



<p class="wp-block-paragraph">👉 Strategies to save your deposit — like assignments, negotiating a release, and getting legal help&nbsp;</p>



<p class="wp-block-paragraph">If you’re stuck in a pre-sale contract in British Columbia (or anywhere), this could save you tens or even hundreds of thousands of dollars.&nbsp;</p>



<p class="wp-block-paragraph">⚠ Key Takeaways:&nbsp;</p>



<p class="wp-block-paragraph">Deposits are often non-refundable (5–25%)&nbsp;</p>



<p class="wp-block-paragraph">Developers can sue for damages if they resell at a loss&nbsp;</p>



<p class="wp-block-paragraph">You may face legal costs or credit impacts if it goes to collections&nbsp;</p>



<p class="wp-block-paragraph">There are ways to limit the damage — but only if you act quickly&nbsp;</p>



<p class="wp-block-paragraph">📩 Need Help? If you’re considering walking from a pre-sale, don’t go silent.&nbsp;</p>



<p class="wp-block-paragraph">Let’s talk about your options:&nbsp;</p>



<p class="wp-block-paragraph">→ Can we assign it?&nbsp;</p>



<p class="wp-block-paragraph">→ Can we negotiate out?&nbsp;</p>



<p class="wp-block-paragraph">→ Can we structure a backup plan?&nbsp;</p>



<p class="wp-block-paragraph">👍 Like this video, share it with someone thinking of selling, and subscribe for real market advice—not media hype. Watch and subscribe for more!</p>
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			</item>
		<item>
		<title>Your home hasn&#8217;t sold yet. Here is why!</title>
		<link>https://jessijohnson.ca/your-home-hasnt-sold-yet-here-is-why/</link>
					<comments>https://jessijohnson.ca/your-home-hasnt-sold-yet-here-is-why/#respond</comments>
		
		<dc:creator><![CDATA[jessijohnson]]></dc:creator>
		<pubDate>Tue, 23 Sep 2025 01:59:50 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<guid isPermaLink="false">https://jessijohnson.ca/?p=3881</guid>

					<description><![CDATA[Your home hasn’t sold… and you’re wondering why. In this episode, I break down the real reasons listings sit stale in today’s 2025 market—plus what you can do to fix it. Here’s what we cover: Why pricing just 3–5% too high can kill your showings The importance of condition and curb appeal How location impacts [&#8230;]]]></description>
										<content:encoded><![CDATA[
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</div></figure>



<p class="wp-block-paragraph">Your home hasn’t sold… and you’re wondering why. <img loading="lazy" decoding="async" height="16" width="16" alt="🏡" src="https://static.xx.fbcdn.net/images/emoji.php/v9/t16/2/16/1f3e1.png"></p>



<p class="wp-block-paragraph">In this episode, I break down the real reasons listings sit stale in today’s 2025 market—plus what you can do to fix it.</p>



<p class="wp-block-paragraph"><img loading="lazy" decoding="async" height="16" width="16" alt="👉" src="https://static.xx.fbcdn.net/images/emoji.php/v9/tf0/2/16/1f449.png"> Here’s what we cover:</p>



<p class="wp-block-paragraph">Why pricing just 3–5% too high can kill your showings</p>



<p class="wp-block-paragraph">The importance of condition and curb appeal</p>



<p class="wp-block-paragraph">How location impacts your asking price</p>



<p class="wp-block-paragraph">The difference between great marketing vs. lazy marketing</p>



<p class="wp-block-paragraph">Why choosing the wrong realtor could cost you thousands</p>



<p class="wp-block-paragraph">What happens when your listing goes stale (and how to revive it)</p>



<p class="wp-block-paragraph">The good news? Most of these issues are completely fixable. By the end of this video, you’ll know exactly what to change to finally get your home sold—and avoid leaving money on the table.</p>



<p class="wp-block-paragraph"><img loading="lazy" decoding="async" height="16" width="16" alt="📩" src="https://static.xx.fbcdn.net/images/emoji.php/v9/t5f/2/16/1f4e9.png"> Want personalized advice? DM me, email me, or scan the QR code in this video for a confidential chat about your listing.</p>



<p class="wp-block-paragraph"><img loading="lazy" decoding="async" height="16" width="16" alt="📚" src="https://static.xx.fbcdn.net/images/emoji.php/v9/te8/2/16/1f4da.png"> Grab a copy of my best-selling book Rockstar Real Estate Investing on Amazon for even more in-depth strategies.</p>



<p class="wp-block-paragraph"><img loading="lazy" decoding="async" height="16" width="16" alt="👍" src="https://static.xx.fbcdn.net/images/emoji.php/v9/t9b/2/16/1f44d.png"> Like this video, share it with someone thinking of selling, and subscribe for real market advice—not media hype.</p>



<p class="wp-block-paragraph">Watch and subscribe for more!</p>



<p class="wp-block-paragraph"><img loading="lazy" decoding="async" height="16" width="16" alt="👉" src="https://static.xx.fbcdn.net/images/emoji.php/v9/tf0/2/16/1f449.png"> Learn more, call Jessi at 604 716 6474, email jessi@jessijohnson.ca or schedule a time to chat here: <a href="https://calendly.com/jessirealestate?fbclid=IwZXh0bgNhZW0CMTAAYnJpZBExV3d0MmtUMkoySHZabm1RNgEejaG2F0Gy6UbopKX9CTy6MFbHsfCS7fDjUYBqRhb2BGeFIfJSv4w3VN2BpqQ_aem_q9cFj-cNcypswhdsBdb9NQ" rel="noreferrer noopener nofollow" target="_blank">https://calendly.com/jessirealestate</a></p>



<p class="wp-block-paragraph">Don’t forget to pick up a copy of my best-selling book on Amazon, Rockstar Real Estate Investing if you haven’t yet and we are here for your questions at any time.</p>



<p class="wp-block-paragraph">Pick up my book here: <a href="https://l.facebook.com/l.php?u=https%3A%2F%2Famzn.to%2F3uX43SA%3Ffbclid%3DIwZXh0bgNhZW0CMTAAYnJpZBExV3d0MmtUMkoySHZabm1RNgEe7DQPHdgtg3itnYYSbSK-xTJsjigsANUb32rgiNtFHfDpPHi950p-ng2klAU_aem_ztjaoZxJ3w2aewLk6H_hSQ&amp;h=AT3jOY7oA4CxWueqLas-FWuwyy6gpLQTekhATmwNxKzcCvs01gAsUAInJxh8CQNR62tKtu94U1dc7Zy-DpwUhZ2Phmcwr8fGvNQAqXdMGuukxPDJKm5eENwZR1s6DzStulq2VgkaTlPn-qcKQqCljHAcfRphkM24_H0&amp;__tn__=-UK-R&amp;c[0]=AT2y3VJN3X4aorszrq-nOicR0i7vLZPQhBsLADmnheNy8q7bAwgulITMyBG5D3XhfIU5FoxZBfpszOpLGvz04OoEC0CZcw5AJv6Xm35slVk42FwSUPAHWQUGVwsA0VWTNiFDEoFYi8I7eiGRYNm5BdqCtxp4rJuoDy_jKvHi2xZ5-htavzt05p19LyAKsxe_vUTVxM2SCS1paSaDTvgfky3GXiLWhHQOXA" rel="noreferrer noopener nofollow" target="_blank">https://amzn.to/3uX43SA</a></p>
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		<item>
		<title>Death of the Canadian real estate investor?</title>
		<link>https://jessijohnson.ca/death-of-the-canadian-real-estate-investor/</link>
					<comments>https://jessijohnson.ca/death-of-the-canadian-real-estate-investor/#respond</comments>
		
		<dc:creator><![CDATA[jessijohnson]]></dc:creator>
		<pubDate>Fri, 26 Jul 2024 16:59:03 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<category><![CDATA[ban on Airbnb]]></category>
		<category><![CDATA[ban on flipping]]></category>
		<category><![CDATA[Canadian real estate]]></category>
		<category><![CDATA[Canadian real estate investor]]></category>
		<category><![CDATA[Canadians can no longer afford to buy homes]]></category>
		<category><![CDATA[existing tenanted property]]></category>
		<category><![CDATA[federal immigration]]></category>
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		<category><![CDATA[Jessi Johnson]]></category>
		<category><![CDATA[minimum four-month notice]]></category>
		<category><![CDATA[real estate investor]]></category>
		<category><![CDATA[taxing your principal residence]]></category>
		<guid isPermaLink="false">https://jessijohnson.ca/?p=3573</guid>

					<description><![CDATA[Canadian real estate investors are disappearing. Government restrictions are causing investors to relocate funds to other opportunities, many outside of Canada. We need investors to buy properties, ideally upgrade/maintain them, and create rentals for the market. The vast majority of Canadians can no longer afford to buy homes, so they have to rent. That&#8217;s a [&#8230;]]]></description>
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<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="800" height="400" src="//i0.wp.com/jessijohnson.ca/wp-content/uploads/2024/07/unnamed-1.png" alt="" class="wp-image-3574" srcset="https://jessijohnson.ca/wp-content/uploads/2024/07/unnamed-1.png 800w, https://jessijohnson.ca/wp-content/uploads/2024/07/unnamed-1-300x150.png 300w, https://jessijohnson.ca/wp-content/uploads/2024/07/unnamed-1-768x384.png 768w, https://jessijohnson.ca/wp-content/uploads/2024/07/unnamed-1-700x350.png 700w" sizes="auto, (max-width: 800px) 100vw, 800px" /></figure>



<p class="wp-block-paragraph">Canadian real estate investors are disappearing. Government restrictions are causing investors to relocate funds to other opportunities, many outside of Canada. We need investors to buy properties, ideally upgrade/maintain them, and create rentals for the market. The vast majority of Canadians can no longer afford to buy homes, so they have to rent. That&#8217;s a whole other story, of course.</p>



<p class="wp-block-paragraph">The <a href="https://fub.direct/1/Y4I-jdyPMG6gQelLixGdwHfyJGbtZ8DGVNgbQaq1erOCwDlD4L31KkX0ULICqVZyxJvtE5C3HKce7fInpuvRRA/https/www.youtube.com/watch?v=cPGRgc4E1jw&amp;list=PLjcHUCFzSdFeeGRRxhyfcQLwH0X0vupLU&amp;index=18&amp;t=126s" target="_blank" rel="noreferrer noopener nofollow"><strong><u>ban on Airbnb</u></strong></a> has a negligible impact on investor buyers but has caused some owners to list their homes so they don&#8217;t need to deal with our tenancy laws that heavily favour the tenant. Is this a good thing? Well, there are more listings, but not necessarily more rentals. Also, without Airbnb, tourists visiting Vancouver are forced to pay disturbingly high hotel fees, so many are likely going to avoid coming at all. It&#8217;ll hurt tourism more than help the housing market. I, for example, refuse to spend $500+ for a night in a hotel and will only travel to cities with Airbnb options, in most circumstances.</p>



<p class="wp-block-paragraph">The new <a href="https://fub.direct/1/TETw7QJdnONa476E24jYTUpdP7pplGJ-QrZPcuxWwEQq3WuphZQSkIa7mct6RZWsfyvnbP8wTNbRjpgSkYCShA/https/www.youtube.com/watch?v=_uGD52A9sp0&amp;list=PLjcHUCFzSdFeeGRRxhyfcQLwH0X0vupLU&amp;index=3&amp;t=737s" target="_blank" rel="noreferrer noopener nofollow"><strong><u>minimum four-month notice</u></strong></a> to move into an existing tenanted property, which also requires a one-month rent payment to the tenant, is causing buyers to avoid tenanted properties.</p>



<p class="wp-block-paragraph">The minimal amount you can increase rent annually doesn&#8217;t keep up with inflation, high interest rates, and the cost of maintenance. This means taking on a property with an existing tenant is often a huge burden and would cause a normal property to be cash-negative. A smart investor will avoid this property, too.</p>



<p class="wp-block-paragraph">The ban on flipping is causing all of those impostors to find opportunities outside of the country. A flipping investor buys a property in poor condition and updates it for the next buyer. I do not see the harm in this or why this ridiculous band is in place. Again, more investors are leaving.</p>



<p class="wp-block-paragraph">The updated capital gains tax when selling rental properties is causing investors to think about the point of investing here if they lose the majority of their profits with a future sale. Again, they&#8217;re looking to other areas to invest their money.</p>



<p class="wp-block-paragraph">Yes, the foreign buyer ban has had a positive (although minimal) effect. However, it was 40 years too late, and the damage was already done.</p>



<p class="wp-block-paragraph">The reckless levels of federal immigration are going to raise rental rates further.</p>



<p class="wp-block-paragraph">Our provincial and federal governments are an absolute disaster right now and things are looking like they&#8217;re going get a lot worse before there&#8217;s any hope of getting better.</p>



<p class="wp-block-paragraph">Even worse, the federal government is now considering<strong> taxing your principal residence</strong>. If that happens, how many citizens will give up, say F-this, and leave Canada?</p>



<p class="wp-block-paragraph">Money is leaving Canada at record levels, and it&#8217;s about to get a lot worse. This is not good for our country. We need new governments, provincially and federally.</p>



<p class="wp-block-paragraph">To make money in real estate today, it would be best to buy a principal residence, renovate and live in it until our wonderful (extreme sarcasm) government permits you to sell it without heavy penalties. Rinse and repeat.</p>



<p class="wp-block-paragraph">Buying long-completion presales is also an option, but mainly for your principal residence. Seeing how you are essentially now banned from assigning/flipping them, that is no longer an ideal investment strategy.</p>



<p class="wp-block-paragraph">More importantly, <strong>what do you think?</strong></p>
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		<title>Unlocking the True Value of Your Home: Beyond BC Assessments</title>
		<link>https://jessijohnson.ca/unlocking-the-true-value-of-your-home-beyond-bc-assessments/</link>
					<comments>https://jessijohnson.ca/unlocking-the-true-value-of-your-home-beyond-bc-assessments/#respond</comments>
		
		<dc:creator><![CDATA[jessijohnson]]></dc:creator>
		<pubDate>Sun, 10 Mar 2024 18:00:07 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<category><![CDATA[BC assessments]]></category>
		<category><![CDATA[BC property value]]></category>
		<category><![CDATA[CMA]]></category>
		<category><![CDATA[Comparative market assessment]]></category>
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		<guid isPermaLink="false">https://jessijohnson.ca/?p=3541</guid>

					<description><![CDATA[Introduction Navigating the complex world of property valuation in British Columbia can be a daunting task, especially when relying on BC Assessments. These assessments, while necessary, are not always the most accurate reflection of your home&#8217;s current market value, given their reliance on data from the previous year. With the real estate landscape in Greater [&#8230;]]]></description>
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<figure class="wp-block-embed aligncenter is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
https://www.youtube.com/watch?v=wxthFOT4eIU
</div></figure>



<h2 class="wp-block-heading">Introduction</h2>



<p class="wp-block-paragraph">Navigating the complex world of property valuation in British Columbia can be a daunting task, especially when relying on BC Assessments. These assessments, while necessary, are not always the most accurate reflection of your home&#8217;s current market value, given their reliance on data from the previous year. With the real estate landscape in Greater Vancouver and beyond being so dynamic, it&#8217;s crucial to have a more immediate and precise understanding of your property&#8217;s worth.</p>



<p class="wp-block-paragraph">I&#8217;m Jessi Johnson, bringing to the table 18 years of invaluable experience as a mortgage broker and <a href="https://www.jessijohnsonrealtor.ca/" rel="nofollow noopener" target="_blank">realtor</a>, ready to guide you through the intricacies of accurately determining the value of your home.</p>



<h2 class="wp-block-heading">Understanding BC Assessments</h2>



<p class="wp-block-paragraph">BC Assessments provide a snapshot of a property&#8217;s value based on conditions as of July 1st of the previous year. This retrospective valuation can be significantly out of step with the <a href="https://www.jessijohnsonrealtor.ca/" rel="nofollow noopener" target="_blank">current real estate market</a>, particularly in fast-moving regions like <a href="https://www.jessijohnsonrealtor.ca/" rel="nofollow noopener" target="_blank">Greater Vancouver</a>. Recognizing this limitation is the first step in seeking out more accurate and timely valuations.</p>



<h2 class="wp-block-heading">Methods for Accurate Home Valuation</h2>



<p class="wp-block-paragraph">When the BC Assessment doesn&#8217;t suffice, consider these two reliable alternatives:</p>



<h3 class="wp-block-heading">1. Professional Property Appraisal</h3>



<p class="wp-block-paragraph">Hiring a licensed property appraiser is a solid choice, especially when securing a mortgage. The cost ranges between $300 to $500 but offers a precise valuation of your home based on a comprehensive analysis of various factors including location, size, and condition.</p>



<h3 class="wp-block-heading">2. Expert Realtor Guidance</h3>



<p class="wp-block-paragraph">Alternatively, consulting with a knowledgeable local realtor can provide insights into your home&#8217;s value within the current market context. If you&#8217;re in Greater Vancouver, I&#8217;m here to offer my expertise and assist you in navigating the valuation process.</p>



<h2 class="wp-block-heading">Factors Influencing Home Value</h2>



<p class="wp-block-paragraph">Several factors play a critical role in determining your home&#8217;s value:</p>



<ul class="wp-block-list"><li>Location and proximity to amenities or busy streets</li><li>The type and style of your home</li><li>Square footage of both interior and exterior spaces</li><li>Age of the home and any renovations or improvements, particularly those officially recognized through permits</li><li>The number of bedrooms, bathrooms, and unique features like basement suites</li></ul>



<p class="wp-block-paragraph">It&#8217;s important to note that unpermitted renovations, while potentially adding value, won&#8217;t be reflected in your BC Assessment, impacting the government&#8217;s valuation of your property.</p>



<h2 class="wp-block-heading">The Role of BC Assessments in Market Analysis</h2>



<p class="wp-block-paragraph">While BC Assessments are considered in <a href="https://www.jessijohnsonrealtor.ca/" rel="nofollow noopener" target="_blank">comparative market analyses</a> (CMAs) for context, they do not directly influence the valuation process. CMAs involve a detailed comparison of your property against similar, recently sold properties to establish a more accurate market value.</p>



<h2 class="wp-block-heading">Addressing Inaccurate BC Assessments</h2>



<p class="wp-block-paragraph">Should you find your property&#8217;s assessed value to be misaligned with its true worth, it is possible to contest this figure with BC Assessment Authority. Whether you believe your assessment is too high or too low, correcting this value is crucial, not just for selling purposes but also because it affects your annual property taxes.</p>



<h2 class="wp-block-heading">Conclusion</h2>



<p class="wp-block-paragraph">BC Assessments, while a helpful starting point, are not the be-all and end-all for determining your property&#8217;s value. By understanding their limitations and exploring alternative valuation methods, you can achieve a more accurate and beneficial outcome for your real estate endeavors. Remember, whether you&#8217;re curious about your home&#8217;s value or ready to step into the market, your local realtor is an invaluable resource. Don&#8217;t hesitate to reach out for expert advice tailored to your unique situation.</p>
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			<media:title type="plain">BC assessments usually do not correctly represent your property value!</media:title>
			<media:description type="html"><![CDATA[In this episode, I will articulate what a BC Assessment is and how to figure out the true value of your homeI am Jessi Johnson, guiding you with 18 years of ...]]></media:description>
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		<title>Was it more accessible to buy a home in the 1980’s with a 20% mortgage rate?</title>
		<link>https://jessijohnson.ca/was-it-more-accessible-to-buy-a-home-in-the-1980s-with-a-20-mortgage-rate/</link>
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		<dc:creator><![CDATA[jessijohnson]]></dc:creator>
		<pubDate>Sat, 24 Feb 2024 18:48:59 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<category><![CDATA[20% mortgage rate]]></category>
		<category><![CDATA[buy in 1980]]></category>
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		<guid isPermaLink="false">https://jessijohnson.ca/?p=3532</guid>

					<description><![CDATA[In this episode, we&#8217;re tackling a question that&#8217;s been on my mind for a while: Was buying real estate in Vancouver actually more affordable back when mortgage rates were at 20%? Throughout my childhood, I frequently heard my parents lamenting how difficult those times were. But was the financial strain truly as severe as they [&#8230;]]]></description>
										<content:encoded><![CDATA[
<figure class="wp-block-embed aligncenter is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
https://www.youtube.com/watch?v=J5iF3lgUgTo
</div></figure>



<p class="wp-block-paragraph">In this episode, we&#8217;re tackling a question that&#8217;s been on my mind for a while: Was <a href="https://www.jessijohnsonrealtor.ca/" rel="nofollow noopener" target="_blank">buying real estate in Vancouver</a> actually more affordable back when mortgage rates were at 20%?</p>



<p class="wp-block-paragraph">Throughout my childhood, I frequently heard my parents lamenting how difficult those times were. But was the financial strain truly as severe as they described?</p>



<p class="wp-block-paragraph">I&#8217;m Jessi Johnson, here to guide you with the insights I&#8217;ve gained from over 18 years as a mortgage broker and realtor.</p>



<p class="wp-block-paragraph">Reflecting on the past, homes in the 1980s were astonishingly affordable compared to today &#8211; what you&#8217;d pay in property transfer taxes now could have bought you a house back then.</p>



<p class="wp-block-paragraph">Although data varies, the average price for a Vancouver home in the mid-80s hovered around $160,000. Fast forward to today, and that figure has skyrocketed to $2,500,000, marking a 15-fold increase.</p>



<p class="wp-block-paragraph">But have incomes kept pace? Absolutely not. The average income in <a href="https://www.jessijohnsonrealtor.ca/" rel="nofollow noopener" target="_blank">Vancouver</a> was about $30,000 in 1982, only to reach approximately $69,000 today &#8211; a mere doubling in 40 years, far from the exponential rise in home prices.</p>



<p class="wp-block-paragraph">The disparity between income growth and housing price inflation has significantly eroded the affordability of homeownership.</p>



<p class="wp-block-paragraph">Let&#8217;s break down the numbers:</p>



<p class="wp-block-paragraph">In the 80s, a $160,000 home, with a 20% down payment, led to a $128,000 mortgage. At a 20% interest rate over 25 years, monthly payments were about $2,108, consuming 74.4% of the average income.</p>



<p class="wp-block-paragraph">Contrast that with today: a $2,500,000 home requires a $2,000,000 mortgage (assuming a 20% down payment). With a 5.5% interest rate, monthly payments jump to $12,455, or 215% of the average income.</p>



<p class="wp-block-paragraph">Despite these comparisons, the actual affordability of homes has drastically diminished due to the disproportionate increase in home prices relative to incomes.</p>



<p class="wp-block-paragraph">And while I&#8217;ve focused on individual rather than household incomes, the conclusion remains starkly similar.</p>



<p class="wp-block-paragraph">Given the choice, I&#8217;d opt for the 1980s&#8217; pricing and mortgage rates any day.</p>



<p class="wp-block-paragraph">As we delve into this topic, please support this video with a like and subscribe to the channel for more insights.</p>



<p class="wp-block-paragraph">But why were the 1980s&#8217; interest rates so high? The culprit was rampant inflation, which led to historically high mortgage rates, occasionally topping 20%.</p>



<p class="wp-block-paragraph">Despite official reports, I&#8217;m skeptical about the accuracy of inflation rates, especially in light of recent underestimations.</p>



<p class="wp-block-paragraph">For those feeling disheartened by today&#8217;s market, remember, it&#8217;s still possible to find your footing in real estate. Whether it&#8217;s through renovating an older property or investing in a presale with a long completion period, opportunities abound.</p>



<p class="wp-block-paragraph">I&#8217;m here to guide you through each step of the process. To get started, book a consultation with me.</p>



<p class="wp-block-paragraph">And if you&#8217;re looking for more real estate wisdom, don&#8217;t miss my best-selling book, &#8216;<a href="https://www.amazon.ca/Rockstar-Real-Estate-Investing-Million/dp/1544513925?crid=2IOQ6DR476WQ9&amp;dib=eyJ2IjoiMSJ9.OkoPOLBOx9zdPeCC9IKmOiFQtvitIiSYN9CW3alhA8vTnLbRY4kH5k01p7zCqpHI-T2TmpOfsjSZTVF5f2NLRnKANYlufLQK_Y0QU7IDh-M.HMMfBUEtvHHVS-Xg5s5drA-T18aSn9IpoRgcizaIWrA&amp;dib_tag=se&amp;keywords=jessi+johnson&amp;qid=1708796148&amp;sprefix=jessi+johnson%2Caps%2C170&amp;sr=8-1&amp;linkCode=ll1&amp;tag=jessijohnson-20&amp;linkId=5215586f1ca2e9a2e4c424cacce6d12a&amp;language=en_CA&amp;ref_=as_li_ss_tl" rel="nofollow noopener" target="_blank">Rockstar Real Estate Investing</a>,&#8217; available on <a href="https://www.amazon.ca/Rockstar-Real-Estate-Investing-Million/dp/1544513925?crid=2IOQ6DR476WQ9&amp;dib=eyJ2IjoiMSJ9.OkoPOLBOx9zdPeCC9IKmOiFQtvitIiSYN9CW3alhA8vTnLbRY4kH5k01p7zCqpHI-T2TmpOfsjSZTVF5f2NLRnKANYlufLQK_Y0QU7IDh-M.HMMfBUEtvHHVS-Xg5s5drA-T18aSn9IpoRgcizaIWrA&amp;dib_tag=se&amp;keywords=jessi+johnson&amp;qid=1708796148&amp;sprefix=jessi+johnson%2Caps%2C170&amp;sr=8-1&amp;linkCode=ll1&amp;tag=jessijohnson-20&amp;linkId=5215586f1ca2e9a2e4c424cacce6d12a&amp;language=en_CA&amp;ref_=as_li_ss_tl" rel="nofollow noopener" target="_blank">Amazon</a>. Check the description for the link.</p>



<p class="wp-block-paragraph">Let&#8217;s take charge of our lives and navigate the real estate market with confidence. I&#8217;m Jessi Johnson, here to empower you with over 18 years of experience. Remember, the key is to Own Your Life!</p>
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			<media:title type="plain">Was it easier to buy a home in the 1980’s with a 20% mortgage rate?</media:title>
			<media:description type="html"><![CDATA[In this episode, we will dive into something that I wanted to run numbers on for quite some time. Was it actually more affordable to buy real estate in Vanco...]]></media:description>
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		<title>Real Estate Predictions for 2024 &#038; auditing my predictions from 2023</title>
		<link>https://jessijohnson.ca/real-estate-predictions-for-2024-auditing-my-predictions-from-2023/</link>
					<comments>https://jessijohnson.ca/real-estate-predictions-for-2024-auditing-my-predictions-from-2023/#respond</comments>
		
		<dc:creator><![CDATA[jessijohnson]]></dc:creator>
		<pubDate>Wed, 21 Feb 2024 00:09:35 +0000</pubDate>
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		<category><![CDATA[predictions from 2023]]></category>
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					<description><![CDATA[In this episode, we will my Real Estate Predictions for 2024 and but first audit my past predictions from to 2023 to see if I was accurate… or out to lunch I am Jessi Johnson, guiding you with over 18 years of experience as a mortgage broker and realtor. To quickly review 2023, while most [&#8230;]]]></description>
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<iframe loading="lazy" title="Real Estate Predictions for 2024 &amp; auditing my predictions from 2023" width="500" height="281" src="https://www.youtube.com/embed/xJsXsl0Jt0w?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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<p class="wp-block-paragraph">In this episode, we will my Real Estate Predictions for 2024 and but first audit my past predictions from to 2023 to see if I was accurate… or out to lunch</p>



<p class="wp-block-paragraph">I am Jessi Johnson, guiding you with over 18 years of experience as a mortgage broker and <a href="https://www.jessijohnsonrealtor.ca/" rel="nofollow noopener" target="_blank">realtor</a>.</p>



<p class="wp-block-paragraph">To quickly review 2023, while most predicted the real estate market would drop in 2023…. I predicted prices would increase, and I was right!&nbsp;</p>



<p class="wp-block-paragraph">For mortgage rates, I predicted rates would remain stable and drop in Q3 and Q4.&nbsp;</p>



<p class="wp-block-paragraph">I was partially correct there, rates did drop at the start of Q4 but weren’t stable throughout the year. They skyrocketed in the summer of 2023, but no one saw that one coming</p>



<p class="wp-block-paragraph">Let’s quickly review what others predicted would happen in 2023.&nbsp;</p>



<p class="wp-block-paragraph">REBGV, Global New &amp; City TV predicted things would remain flat all year… This was not correct</p>



<p class="wp-block-paragraph">CTV predicted a decline in prices but didn’t give a number&#8230; They definitely didn’t happen</p>



<p class="wp-block-paragraph">The Daily Hive expected the BC market would have no recovery until 2024.. arguably wrong, we started bouncing back spring of 2023</p>



<p class="wp-block-paragraph">Rennie stated price would grow in the second half of 2023&#8230; But they actually went down during this time.&nbsp;</p>



<p class="wp-block-paragraph">National bank predicted mortgage rates would hold steady and drop Q3 of 2023….&nbsp;</p>



<p class="wp-block-paragraph">Again, rates did not hold steady. They skyrocketed in the summer of 2023 and dropped in Q4, so they were close</p>



<p class="wp-block-paragraph">At the end of the day, it is bloody hard for me to predict anything when people far more educated and smarter than I, are constantly wrong.</p>



<p class="wp-block-paragraph">2023 was a brutal year for many, especially for all of us in the real estate and mortgage industry.</p>



<p class="wp-block-paragraph">Did you have to renew a mortgage last year? I did, and it went up over 3%. Now that fucking sucks.</p>



<p class="wp-block-paragraph">Alright, time to dive into my predictions for 2024, and I will try to be more precise this time.</p>



<p class="wp-block-paragraph">I personally feel fixed mortgage rates will continue to drop with a roller coaster effect gradually going down throughout the year.</p>



<p class="wp-block-paragraph">The BOC (Bank of Canada’s) overnight lending rate, which affects variable mortgages and lines of credit’s…&nbsp;</p>



<p class="wp-block-paragraph">Will only start to decline when the current federal government stops recklessly spending and printing money, which devalues our dollar and causes inflation.&nbsp;</p>



<p class="wp-block-paragraph">… only Trudeau can predict when that will happen.</p>



<p class="wp-block-paragraph">You can safely assume variable mortgages and lines of credit’s will finally start to come down as early as April but, more likely in June.</p>



<p class="wp-block-paragraph">For housing prices, I feel prices will increase a minimum of 5% but more likely increase 10%, which is closer to the historical norm.&nbsp;</p>



<p class="wp-block-paragraph">However, there is a very good chance the next boom will kick in this year, instead of 2025, when most predict it will happen</p>



<p class="wp-block-paragraph">I have seen Vancouver’s prices go up 5% in just one month, so anything is possible.</p>



<p class="wp-block-paragraph">Based on irresponsible levels of immigration and a severe shortage of <a href="https://www.jessijohnsonrealtor.ca/" rel="nofollow noopener" target="_blank">new housing</a>, prices have only one place to go, which is up.</p>



<p class="wp-block-paragraph">Economics 101, supply and demand.</p>



<p class="wp-block-paragraph">Are we in a recession?&nbsp;</p>



<p class="wp-block-paragraph">Probably but I feel it will have little to no effect on the real estate market in <a href="https://www.jessijohnsonrealtor.ca/" rel="nofollow noopener" target="_blank">Greater Vancouver</a>.</p>



<p class="wp-block-paragraph">To be clear, I know the Greater Vancouver market well, these predictions do not fall outside of this geographical area.</p>



<p class="wp-block-paragraph">Do I have any recommended hot spots to invest in?</p>



<p class="wp-block-paragraph">Well, anything close to Whistler is gold.&nbsp;</p>



<p class="wp-block-paragraph">They are one of the only areas where the government didn’t ban <a href="https://www.jessijohnsonrealtor.ca/" rel="nofollow noopener" target="_blank">Airbnb businesses</a>.</p>



<p class="wp-block-paragraph">Maple Ridge and any “affordable” areas will see the biggest price increases.</p>



<p class="wp-block-paragraph">I strongly feel Burnaby condos and townhouses are going to skyrocket this year too.</p>



<p class="wp-block-paragraph">I do not know anyone rich, who isn’t involved in real estate as an owner or investor.&nbsp;</p>



<p class="wp-block-paragraph">If you have any hopes of retiring with a healthy net worth, you must be in real estate.</p>



<p class="wp-block-paragraph">Book a time to chat with me and I will walk you through the entire process. The link to do so is in the description.</p>



<p class="wp-block-paragraph">While I have your attention, please like this video to help me with the algorithm…and, don’t forget to subscribe to the channel&nbsp;</p>



<p class="wp-block-paragraph">Once again, I’m Jessi Johnson, your guide with over 18 years of expertise.&nbsp;</p>



<p class="wp-block-paragraph">Grab a copy of my best-selling book, &#8216;<a href="https://www.amazon.ca/Rockstar-Real-Estate-Investing-Million/dp/1544513925?crid=26N0VN4ECP5RP&amp;dib=eyJ2IjoiMSJ9.OkoPOLBOx9zdPeCC9IKmOqkuFjvSn0-li-IFj70id-DUVfAXfSqWjbMc5J1T6N8c-T2TmpOfsjSZTVF5f2NLRnKANYlufLQK_Y0QU7IDh-M.OheUIq8WpQiyDP37DGFiV9JKTZMpiz_S-Y0-GT4fp_0&amp;dib_tag=se&amp;keywords=jessi+johnson&amp;qid=1708474141&amp;sprefix=jessi+johnson%2Caps%2C160&amp;sr=8-1&amp;linkCode=ll1&amp;tag=jessijohnson-20&amp;linkId=791caf520557fcc221666494a2552562&amp;language=en_CA&amp;ref_=as_li_ss_tl" rel="nofollow noopener" target="_blank">Rockstar Real Estate Investing</a>&#8216;, for more in-depth knowledge</p>



<p class="wp-block-paragraph">The link to purchase my book on Amazon is here: <a href="https://www.amazon.ca/Rockstar-Real-Estate-Investing-Million/dp/1544513925?crid=26N0VN4ECP5RP&amp;dib=eyJ2IjoiMSJ9.OkoPOLBOx9zdPeCC9IKmOqkuFjvSn0-li-IFj70id-DUVfAXfSqWjbMc5J1T6N8c-T2TmpOfsjSZTVF5f2NLRnKANYlufLQK_Y0QU7IDh-M.OheUIq8WpQiyDP37DGFiV9JKTZMpiz_S-Y0-GT4fp_0&amp;dib_tag=se&amp;keywords=jessi+johnson&amp;qid=1708474141&amp;sprefix=jessi+johnson%2Caps%2C160&amp;sr=8-1&amp;linkCode=ll1&amp;tag=jessijohnson-20&amp;linkId=791caf520557fcc221666494a2552562&amp;language=en_CA&amp;ref_=as_li_ss_tl" rel="nofollow noopener" target="_blank">https://www.amazon.ca/Rockstar-Real-Estate-Investing-Million/dp/1544513925?crid=26N0VN4ECP5RP&amp;dib=eyJ2IjoiMSJ9.OkoPOLBOx9zdPeCC9IKmOqkuFjvSn0-li-IFj70id-DUVfAXfSqWjbMc5J1T6N8c-T2TmpOfsjSZTVF5f2NLRnKANYlufLQK_Y0QU7IDh-M.OheUIq8WpQiyDP37DGFiV9JKTZMpiz_S-Y0-GT4fp_0&amp;dib_tag=se&amp;keywords=jessi+johnson&amp;qid=1708474141&amp;sprefix=jessi+johnson%2Caps%2C160&amp;sr=8-1&amp;linkCode=ll1&amp;tag=jessijohnson-20&amp;linkId=791caf520557fcc221666494a2552562&amp;language=en_CA&amp;ref_=as_li_ss_tl</a></p>



<p class="wp-block-paragraph">Remember to Own Your Life!</p>
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			<media:title type="plain">Real Estate Predictions for 2024 &amp; auditing my predictions from 2023</media:title>
			<media:description type="html"><![CDATA[In this episode, we will my Real Estate Predictions for 2024 and but first audit my past predictions from to 2023 to see if I was accurate… or out to lunchI ...]]></media:description>
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		<title>Mortgage rates and property prices are falling! For now</title>
		<link>https://jessijohnson.ca/mortgage-rates-and-property-prices-are-falling-for-now/</link>
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		<dc:creator><![CDATA[jessijohnson]]></dc:creator>
		<pubDate>Sun, 07 Jan 2024 17:44:25 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
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					<description><![CDATA[Happy New Year! I come bearing wonderful news. Fixed mortgage rates have been on a downward trajectory since October and will continue to decline for years to come. The Bank of Canada has indicated they are no longer increasing and should start dropping the overnight lending rate within 2 to 3 months. The 5-year bond [&#8230;]]]></description>
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<div class="wp-block-image"><figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="800" height="447" src="//i0.wp.com/jessijohnson.ca/wp-content/uploads/2024/01/Mortgage-rates-are-falling-but-prices-are-too.png" alt="" class="wp-image-3513" srcset="https://jessijohnson.ca/wp-content/uploads/2024/01/Mortgage-rates-are-falling-but-prices-are-too.png 800w, https://jessijohnson.ca/wp-content/uploads/2024/01/Mortgage-rates-are-falling-but-prices-are-too-300x168.png 300w, https://jessijohnson.ca/wp-content/uploads/2024/01/Mortgage-rates-are-falling-but-prices-are-too-768x429.png 768w, https://jessijohnson.ca/wp-content/uploads/2024/01/Mortgage-rates-are-falling-but-prices-are-too-626x350.png 626w" sizes="auto, (max-width: 800px) 100vw, 800px" /></figure></div>



<p class="wp-block-paragraph">Happy New Year! I come bearing wonderful news. Fixed mortgage rates have been on a downward trajectory since October and will continue to decline for years to come. The Bank of Canada has indicated they are no longer increasing and should start dropping the overnight lending rate within 2 to 3 months.</p>



<div class="wp-block-image"><figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="538" src="//i0.wp.com/jessijohnson.ca/wp-content/uploads/2024/01/Fix-rates-falling-1024x538.png" alt="" class="wp-image-3515" srcset="https://jessijohnson.ca/wp-content/uploads/2024/01/Fix-rates-falling-1024x538.png 1024w, https://jessijohnson.ca/wp-content/uploads/2024/01/Fix-rates-falling-300x158.png 300w, https://jessijohnson.ca/wp-content/uploads/2024/01/Fix-rates-falling-768x404.png 768w, https://jessijohnson.ca/wp-content/uploads/2024/01/Fix-rates-falling-666x350.png 666w, https://jessijohnson.ca/wp-content/uploads/2024/01/Fix-rates-falling.png 1201w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /></figure></div>



<p class="wp-block-paragraph">The 5-year bond yield which dictates fixed mortgage rates has been dropping fast since October. Want to predict the future? Well, sort of, just want the bond yield to see where fixed mortgage rates are going in the next one to three weeks. Why such a range? If the bond yield goes up, mortgage lenders are quick to increase rates, and do it, usually within a week. When the bond yield drops, lenders take their sweet time and can take up to three weeks to drop rates. No comment.</p>



<div class="wp-block-image"><figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="538" src="//i0.wp.com/jessijohnson.ca/wp-content/uploads/2024/01/Rate-cuts-1024x538.png" alt="" class="wp-image-3516" srcset="https://jessijohnson.ca/wp-content/uploads/2024/01/Rate-cuts-1024x538.png 1024w, https://jessijohnson.ca/wp-content/uploads/2024/01/Rate-cuts-300x158.png 300w, https://jessijohnson.ca/wp-content/uploads/2024/01/Rate-cuts-768x404.png 768w, https://jessijohnson.ca/wp-content/uploads/2024/01/Rate-cuts-666x350.png 666w, https://jessijohnson.ca/wp-content/uploads/2024/01/Rate-cuts.png 1201w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /></figure></div>



<p class="wp-block-paragraph">The Bank of Canada is predicted to start&nbsp;<strong>cutting rates as early as March</strong>, but more realistically in April. They will continue this trend for years to come. The biggest driving factor in the delay of the the Bank of Canada cutting rates is reckless government spending &amp; printing money causing inflation. Yes, you 100% have your government to thank for this mess, which has caused the financial strain for all Canadians.</p>



<p class="wp-block-paragraph">We&#8217;re in an interesting situation now, because even though fixed rates are dropping, prices are as well, which was not expected. Yes, we are in the winter time which is generally the&nbsp;<strong>best time to buy</strong>&nbsp;in the worst time to sell, but still, the market has been extremely slow for sales for a while now, so it was widely expected when the rates come down that things would get very busy. It is just a matter of time before things get crazy again. Expect bidding wars as early as spring time.&nbsp;</p>



<p class="wp-block-paragraph">Are we going to have a&nbsp;<strong>recession in 2024?</strong>&nbsp;That is my prediction but I don&#8217;t think it&#8217;s going to have much, if any, effect on real estate.&nbsp;</p>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="813" height="319" src="//i0.wp.com/jessijohnson.ca/wp-content/uploads/2024/01/Screenshot-2024-01-07-at-9.19.16 AM.png" alt="" class="wp-image-3517" srcset="https://jessijohnson.ca/wp-content/uploads/2024/01/Screenshot-2024-01-07-at-9.19.16 AM.png 813w, https://jessijohnson.ca/wp-content/uploads/2024/01/Screenshot-2024-01-07-at-9.19.16 AM-300x118.png 300w, https://jessijohnson.ca/wp-content/uploads/2024/01/Screenshot-2024-01-07-at-9.19.16 AM-768x301.png 768w" sizes="auto, (max-width: 813px) 100vw, 813px" /></figure>



<figure id="page-container" class="wp-block-table"><table><tbody><tr><td>Surprisingly, even with the crazy high inflation and overall cost-of-living paired with high mortgage rates, the greater Vancouver real estate market still went up 5% in 2023. With so many buyers remaining on the fence and waiting for rates to come down, we are anticipating one heck of a run starting soon. With the average property price expected to double, again within seven years (see <a href="https://www.youtube.com/watch?v=-E3fUE0S8VA&amp;t=18s" target="_blank" rel="noreferrer noopener nofollow">HERE</a>), buying in the next 3 to 6 months is highly recommended. You will thank yourself later!<br><br>Metro Vancouver’s housing market closed out 2023 with balanced market conditions, but the year-end totals mask a story of surprising resilience in the face of the highest borrowing costs seen in over a decade. Residential sales were down 10.3% versus 2022 and they were down 41.5% compared to 2021. Looking at a 10 year sales average, <strong>sales in 2023 were down 23.4%</strong>. Would you like to see a detailed report on Greater/Metro Vancouver? Click <a href="https://members.rebgv.org/realtorlink/rebgv/statscentrereports/Metro-Vancouver.pdf?_cldee=W0cK86kBnomckV1p-7bf86dfilL3EIN2ekE-1OTAacx3gl4uYu0leLhgkxs6tpNi&amp;recipientid=contact-47f8ff950e77e811a95c000d3af49373-be90809a50c64633be8f49c472965fb3&amp;utm_source=ClickDimensions&amp;utm_medium=email&amp;utm_campaign=Newsflash&amp;esid=74d2a37d-24ab-ee11-a569-000d3af4fc67" target="_blank" rel="noreferrer noopener nofollow">HERE</a>.<br><br>Why haven&#8217;t prices tanked in such a brutal economy and conditions? Well, we’re barely above 4 months of inventory nationally, which is lower than at any point from 2010 to 2020. Population growth is immense and new supply is constrained. Economics 101, supply and demand, my friends.<br><br>P.S. <strong>DO NOT FORGET</strong> to payback your entire CEBA Covid loan before Jan 18th you could lose $20,000. More details <a href="https://www.youtube.com/watch?v=DpC50PEZZ1k&amp;t=116s" target="_blank" rel="noreferrer noopener nofollow">HERE</a>.</td></tr><tr><td>Best wishes,<br><br><img loading="lazy" decoding="async" height="37" src="https://stratus.campaign-image.com/images/199250000031750004_zc_v4_1677007208944_small_2023_jessi_johnson_.png" width="200"><br>Realtor &amp; Mortgage Broker in Greater / Metro Vancouver.</td></tr></tbody></table></figure>
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		<title>Investing in Tomorrow&#8217;s Properties with $0 Down – A Strategic Approach</title>
		<link>https://jessijohnson.ca/investing-in-tomorrows-properties-with-0-down-a-strategic-approach/</link>
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		<dc:creator><![CDATA[jessijohnson]]></dc:creator>
		<pubDate>Fri, 15 Dec 2023 22:20:58 +0000</pubDate>
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		<guid isPermaLink="false">https://jessijohnson.ca/?p=3503</guid>

					<description><![CDATA[Welcome to our latest episode, where we delve into the exciting world of presale real estate opportunities. Imagine securing a presale property set to complete in 2028, 2029, or even 2030 with absolutely no down payment – yes, you heard it right, $0 down! If you&#8217;ve been following our recent video titled &#8220;Property Value Soaring: [&#8230;]]]></description>
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<p class="wp-block-paragraph">Welcome to our latest episode, where we delve into the exciting world of <a href="https://www.jessijohnsonrealtor.ca/" rel="nofollow noopener" target="_blank">presale real estate opportunities</a>. Imagine securing a presale property set to complete in 2028, 2029, or even 2030 with absolutely no down payment – yes, you heard it right, $0 down! If you&#8217;ve been following our recent video titled &#8220;Property Value Soaring: Greater Vancouver by 2030,&#8221; you can find the link right here.</p>



<p class="wp-block-paragraph">Understanding the urgency to seize opportunities like this is crucial in today&#8217;s ever-evolving market.</p>



<p class="wp-block-paragraph"><a href="https://www.jessijohnsonrealtor.ca/" rel="nofollow noopener" target="_blank">Presale properties</a> offer you the chance to purchase a promise – a promise of a brand-new home or a lucrative <a href="https://www.jessijohnsonrealtor.ca/" rel="nofollow noopener" target="_blank">investment property</a>. By entering the market early, you&#8217;re locking in tomorrow&#8217;s property at today&#8217;s prices. In a dynamic market like Metro Vancouver, where property values are predicted to soar, this could translate into substantial returns on your investment.</p>



<p class="wp-block-paragraph">As we look ahead to the next four to six years, experts anticipate significantly lower interest rates, potentially <a href="https://www.jessijohnsonrealtor.ca/" rel="nofollow noopener" target="_blank">higher rental income</a> if you choose to hold the presale property, and an estimated doubling of property values by 2030. One fantastic feature of presales is that, in most cases, you have the option to assign the contract. So, if completing the purchase isn&#8217;t feasible for you or if you wish to capitalize on your investment, there&#8217;s an opportunity to sell the contract to someone else for potentially substantial profits.</p>



<p class="wp-block-paragraph">Now, let&#8217;s delve into the strategy of <a href="https://www.jessijohnsonrealtor.ca/" rel="nofollow noopener" target="_blank">purchasing presale properties with $0 down</a>.</p>



<p class="wp-block-paragraph">The concept is simple yet powerful – leverage the equity from your current home as a down payment for your presale property. It&#8217;s like unlocking money you never knew you had! This approach opens doors to attractive investment opportunities without depleting your savings or existing investments.</p>



<p class="wp-block-paragraph">Why should you act now?</p>



<p class="wp-block-paragraph">In the real estate market, time is of the essence. Does the $0 down option only apply to homeowners? Not at all! There are various methods to raise capital. For instance, business owners can access up to $100,000 through the BDC quite easily. Alternatively, you could secure an unsecured line of credit from your bank, although this is typically limited to your reported annual income.</p>



<p class="wp-block-paragraph">With property values expected to double, delaying your decision could mean missed opportunities. Taking action now means not only acquiring property but also investing in your future at today&#8217;s prices. Rest assured, I practice what I preach – having bought and sold over 20 properties, including several presales. I currently have one presale property in progress, and after completion, I&#8217;m planning to acquire another.</p>



<p class="wp-block-paragraph">Now, let&#8217;s discuss the financial aspect. Suppose you&#8217;re considering a property priced at $600,000, requiring a down payment of $60,000 to $120,000 over the next 6 months to 2 years, depending on the completion date. Opting for longer completion timelines allows for a more extended deposit structure. Here&#8217;s my recommendation: I can assist you in securing a small line of credit (LOC) on your primary residence, which not only serves as an annual income tax deduction but also helps you save on annual taxes. With the impending real estate boom, your net worth is bound to skyrocket. The annual interest charge on a $120,000 LOC at today&#8217;s rates is minimal, approximately $8,000, and it&#8217;s tax-deductible. The monthly interest-only payment is roughly $670. Assuming a modest 10% annual increase in the presale property&#8217;s value, you can anticipate an annual return of $60,000, offset by the LOC interest paid.</p>



<p class="wp-block-paragraph">If CMHC&#8217;s predictions hold true, your $0 down investment could potentially be worth $1,134,000. Subtracting the initial purchase price, you could be looking at a gain of $534,000! This calculation doesn&#8217;t account for every expense or the benefits of tax deductions, but it paints a compelling picture. Is it crucial to go through the mortgage pre-approval process when buying a presale property with a long completion date? Absolutely!</p>



<p class="wp-block-paragraph">Mortgage pre-approval helps you determine whether you qualify for a presale property purchase, even if it&#8217;s years away from completion. I can assist you with your mortgage pre-approval and guide you towards the best presale opportunities available right now.</p>



<p class="wp-block-paragraph">Click on the calendar link below in the description to schedule a time to discuss your real estate aspirations.</p>



<p class="wp-block-paragraph">Remember, it&#8217;s time to Own Your Life!</p>
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			<media:title type="plain">How to buy presale with $0 down and why you must do this now</media:title>
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