Basic Real Estate Bidding War Strategies

 

Do you feel nervous when it comes to bidding on real estate?

Do you shy away from competition?

Are you constantly losing in the bidding wars?

Don’t you wish you knew some basic strategies so that you’ll have the upper hand next time?

 

First off, in this hot Vancouver market, bidding wars are inevitable.  It doesn’t matter whether you’re buying a house, condo, townhome or duplex, you’re going to be buying something that others can’t wait to buy.

Let me first dispel a common myth first.  

 

Myth:  Bidding wars mean that I am going to overpay for the property

 

No, not necessarily.  If there’s a bidding war for the property you want to buy, it’ll mean a few things:

1.  The property and/or neighborhood is in high demand

2.  In bidding wars, there’s only 1 winner, meaning there are a bunch of buyers who still want to buy that property or similar properties in that area, leading to increases in market value for that area.

3.  Bidding wars sometimes occur because the property was priced at below market value to start with

4.  If you win a bidding war, you may be able to flip it to one of the bidders who didn’t win for a quick profit

 

In a hot market, there is a lack of inventory, meaning there are more buyers than there are sellers.  

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Why Choose to Lease?

When it comes time to find your next vehicle you’ll no doubt have to ask some hard-hitting questions like: “Do I want a fast car or a spacious minivan? Do I want a simple, comfortable interior, or do I feel the need for luxury features and premium upholstery? Should I buy or is it a better idea to lease?”

While we can definitely assist you with all of these things, let’s cover leasing here and now.

We know that reasons may differ from person to person but at the core leasing a vehicle will really come down to the following:

• Leasing protects drivers against the depreciation value of the vehicle
• Avoid driving an older vehicle by leasing a new model requiring less maintenance
• Leasing is offers affordable monthly payments rather than a large purchasing price
• The depreciation value on vehicles is tax deductible and therefore is great for businesses

Generally, it can be said that leasing a vehicle is a great option for drivers that want to continue driving modern makes and models. Join us at Vernon Dodge and let our experts provide you with the necessary information and advice to get you behind the driver’s seat of your next favourite car! Don’t hesitate to reach out and ask questions – we’re here to make sure your search is hassle-free and as enjoyable as possible!

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Strawberry White Chocolate Cheesecake Bars

Strawberry white chocolate cheesecake bars have a chocolate cookie-like crust and strawberry jam topping and are perfect for Valentine’s Day. With a gluten-free option.

With Valentine’s Day coming up, I wanted to make something extra decadent. I’m not one to fuss about Valentine’s Day but I do love an excuse to bake!

I’m guessing I may be in the minority here, but I think white chocolate and berries is one of the most divine combinations ever. I thought about making a white chocolate cheesecake but I’m always in the mood for easy so I went with these strawberry white chocolate cheesecake bars instead.

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The View from Prince Street by Mary Ellen Taylor

Mary Ellen Taylor is another author I've discovered in the past few years that I have grown to enjoy.  Yes, she has entered the category of "immediately purchase" whenever she has a new book published. This is her fourth book, and I was happy to dive back into Alexandria, Virginia and all the characters from her past novels.  It's my humble opinion that in order to get the most out of this book, you should read all the previous books first:  The Union Street Bakery, Sweet Expectations,  and At the Corner of King Street.  I've reviewed them all, so click on the titles to see my reviews.  You don't have to read them, but I believe it makes for a better story when you know the history of the characters.  Mary Ellen Taylor has made a hybrid of sorts:  The Union Street Bakery  and Sweet Expectations are a duo, and then At the Corner of King Street  and The View from Prince Street are another duo.  Characters from the first three novels all appear in Prince Street.  These books are all perfect for a reader who enjoys early American history, relationships between sisters and friends, contemporary issues, and a hint of mystery and the paranormal.  Once again, my history geek jumps out.  I would love love love to visit Alexandria, Virginia and the Washington, D.C. area again.  I had a chance years ago to visit Washington, D.C. for a weekend and have never forgotten how much I enjoyed it.  Someday, I'll go back.  

Prince Street features Rae McDonald and Lisa Smyth, two women connected by the death years before of Rae's older sister Jennifer.  Lisa and Jennifer were best friends and Lisa survived the car accident that killed Jennifer.  Lisa is a recovering alcoholic who travels the country as a photographer, while Rae still lives in her family home in Alexandria and has a successful practice as a therapist.  Both women are a bit of a mess.  Rae is emotionally withdrawn, and Lisa has regular conversations in her head with Jennifer.  Neither has seen each other in years.  Lisa is forced to return to Alexandria to take care of her ailing Aunt Amelia, who has Alzheimer's disease and suddenly confesses she was adopted as a child--and has proof, but no explanation of why her mother never came back for her. 

Enter in Margaret and Addie from the Shire Architectural Salvage Company, who arrive at Rae's house to look over the boxes of letter and documents passed down through Rae's family.  Over 300 years of family history, and a mystery to be solved.  Three witch bottles, three families, and a dark secret that stretches back to the early days of Alexandria.  How are the families connected, and do the witch bottles carry curses that have doomed each descendant of the original settlers?   Can Rae and Lisa find a way to break out of their self-imposed prisons and move on with their lives?  And how do all the dots connect together?  

There is a lot going on in this novel.  Luckily, the author has family trees set up at the beginning of the book.  I found myself looking at them over and over, trying to keep everyone straight.  It is a tangled mix of history that is fascinating and makes for a good story.  Can't wait to see what Mary Ellen Taylor has in store for her next novel.  

Rating:  7/10 for a continuation of family and city history that keeps revealing secrets made hundreds of years ago.  Strong female characters faced with emotional issues that will make or break them.  I love how all the novels by Mary Ellen Taylor fit together, but are distinctly different.  

Available in paperback and  e-book.  

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3 Tips for Getting a Fair Price on a Home

Thinking about how to get a fair price on a home? We’ll help by discussing few tips that will surely help you through the way.

Below are 3 tips for getting a fair price on a home:

Research Recently Sold, Comparable Properties
In this case, you can actually visit other homes and get a true sense of how their size, condition and amenities compare to the property you’re considering buying. Then you can compare prices and see what seems fair. Reasonable sellers know that they must price their properties similarly to market comparable if they want to be competitive. Source: Forbes

Consider Market Conditions and Appreciation Rates in the Area 
Have prices been going up recently or going down? In a seller’s market, properties will probably be somewhat overpriced, and in a buyer’s market, properties are apt to be underpriced. It all depends on where the market currently sits on the real estate boom-and-bust curve. Even in a seller’s market, properties may not be overpriced if the market is on the upswing and not near its peak. Conversely, properties can be overpriced even in a buyer’s market if prices have only recently begun to decline. Of course, it can be difficult to see the peaks and valleys until they’re history.

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Red Velvet Oreo Cheesecakes

Red Velvet Oreo Cheesecakes are a sweet treat for your Valentines. They bake up quick and easy, and are just so darn festive!

I kind of consider myself an Oreo cookie connoisseur. And I may or may not make a special trip to the store when a new limited edition flavor is released. Sometimes I’m even lucky enough to get a preview of the new flavors a couple of weeks early. Blogging does have its perks, folks! Although I think working in my pajamas may just trump preview Oreos by a smidge.

Some people think baking Oreos into other things is slightly ridiculous; however, I’m all about it. Last year I whipped up Red Velvet Oreo Bark and Red Velvet Oreo Cupcakes all while packing up a house and complaining to guys every single step of the way.

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3 Ways to Keep Your Neighborhood Safe

Whether your neighborhood is experiencing criminal activity or you want it to remain safe, here are simple ways to team up with your neighbors to accomplish your goals.

Below are 3 ways to keep your neighborhood safe:

Update Neighbors on Crime

While you should always contact the police if you see a problem, you can also keep your neighborhood up to date on crime using the hyper local Nextdoor app.

The app lets you post and comment on anything that’s going on in your neighborhood, including criminal activity.
It’s free and super easy to sign up for.
It’s also secure, preventing those outside the community from seeing info about those in the community. The app forces each new account to verify that they actually live in that neighborhood. Source: AckermanSecurity

Publications and Products For Home and Neighborhood Safety

• Travel Safety Tips Flier
  This online Flier Travel Safety Tips from National Crime Prevention Council and McGruff The Crime Dog
• Positive Change Through Policy
  This online guide features examples of policies that create safer communities
• Locking Your Home
  Times have changed, and locks have changed, but burglars still look for homes that are easy targets.
• Neighborhood Watch Needs You
  This publication discusses reasons to get involved, the kinds of activities Watch groups do, and how they can help a neighborhood strengthen hometown and homeland security activities.Source: NCPC.org

Install a Security System

In the end, one of the surest options to improve safety in your neighborhood is to get a home security system and use it properly. A 2009 study by ­­­­­Rutgers found that, as the number of home security systems increased in an area, the number of residential robberies decreased in that area. Use the Safe wise security system finder tool to help you evaluate what security system will work best for your home. Source: Safewise

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