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Stress Test Continues to Dampen Home Sales in February

In a release March 13, 2019 BCREA states that the B20 stress test (for buyers with 20% or more down payment) continues the be a drag on the housing market in BC.

The release reports that for residential units (all types) sales were down 27% for February 2019 compared to February 2018.  Further, the average price was down 9.3% compared to last year.

For our Board area (Vancouver Island Real Estate Board - VIREB), which covers the Island from the Malahat northward, unit sales were down 27.9%.  Pricing behaved differently showing a 3.5% increased compared to February 2018.

The release did not comment on the effects of the foreign buyer tax for the markets where this applies.


     About Gerry

Information and Interpretation
Selling or buying real estate is a major financial endeavour with many factors to consider. While you have a wealth of information available to you on the internet, interpreting that information is another matter.

This is where I come in. Not only do I research and provide you the information you need, I take it to the next level and analyze and interpret that  information for you. I will tell you what I think, what we do is up to you.


As a client, your Realtor works for you, and this is a principle I hold dear.  I see my job as providing you with information, interpretation, services and guidance, not to push you on a course of action.

Unparalleled Service
I have a simple code, I don't sell, I service. I assume my clients are perfectly able to make their own decision once they have the information they need. I spend my time providing information, guiding people through the process, and making sure all the bases are covered, not in high pressure sales.

Over the years I have received very complementary feedback from clients. See Client Feedback.

Integrity
Integrity, simply defined, is being honest and fair. This is further enhanced by one of a Realtor's prime duties, which is not to put anyone's interest above their clients, including their own.  This a duty I take very seriously. My personal outlook after over 30 years in business, is that whenever I experience high pressure sales I start to question the integrity of the person selling me.  Are they looking after my best interest or theirs?

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Blue illustration of Gerry Chwelos, Realtor, Pemberton Holmes.

Gerry Chwelos, REALTOR®

PEMBERTON HOLMES LTD.

Tel: 250-8975465

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Copyright © Gerry Chwelos 2017