Buyer demand continues to outweigh supply in the VIREB market and competition for those few precious listings is fierce. Buyers continue to be frustrated with thier home search as inventory numbers reached an all-time low. The BCREA does not see the inventory situation improving until more supply comes on the market later this year. The BCREA and local real estate boards are advocating with policy makers to encourage streamlining the development process so that municipalities can expand supply more quickly to meet the growing demand. 

It is an exciting time to sell your home as the robust market is impacting prices. Single family homes as a 15% increase over February 2020. Last month, we saw a 56% increase in the sales of single family homes since the same period last year with 417 units sold. 

More than ever, it's important for buyers and sellers alike to work with a realtor to help them navigate the ever-changing envorinment. 

Every home buyer hopes to find the perfect house. The one that, as soon as you walk through the front door, you know it is the one for you.

It happens, and when it does, I am really happy for my buyers. I always want my buyers to fall in love with the perfect house and live happily ever after.

Just like in relationships, however, emotions often come into play during the home buying journey…Emotions that may result in some not-so-loving feelings.

While I’m not a therapist, I can help you talk through your emotions about the homes we visit and help you identify if you are making decisions with your heart and not your head.

There are six basic emotions; let’s look at how they can affect your decision-making skills.

1. Fear: We have all learned that fear triggers a “fight or flight” response. In terms of making decisions, fear may cause you to “flee” from making any decision at all, which could make your home buying experience exhausting. If you are afraid you will run out of time, or that if you pass on a house you won’t find another one, you may “fight” by making a rash decision too quickly.
2. Sadness: Feeling sad can cause you to lower your expectations and settle for less than you truly want. You may decide you don’t need certain features that you previously wanted. Or you may settle for one of the first homes you see instead of persevering with the search.
3. Disgust: Disgust can cause you to eliminate choices that otherwise might have been in the running. You might find the perfect floorplan, style, or location, but if the home has a bad odor, a filthy floor, or some other off-putting defect, you might not be able to stomach it, even if it is a completely reversible problem.
4. Surprise: Surprise is an emotion that is fleeting– it happens quickly and then subsides. Surprises can be pleasant, like if you go to see a home you were not expecting to like and find it is much nicer than you expected. But if you are touring the home and a rat runs out of the pantry, you get a negative surprise. While surprise doesn’t last, the memory does, and it can influence how you feel about the event.
5. Happiness: We all want to feel happy when buying a home but be careful that your excitement doesn’t cause you to make bad decisions. When you are happy or excited, you tend to underestimate risks, assuming everything will work out. People also tend to spend more money than they planned when super excited.
6. Anger: Anger can also cause you to take bigger risks. Research shows angry people are more likely to make impulsive decisions. Anger can sometimes be helpful. If handled properly, anger can help you to identify your needs and outline action steps to get the information you need to act responsibly.