Hammer & Watkinson

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The Hammer & Watkinson Blog

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As we’ve seen the market change from prices falling this time last year, to properties lingering on the market, and now back to selling at lower prices it brings opportunities and challenges to buyers and sellers. Having the right negotiating tactics can put thousands in your pocket, whether you’re the buyer or seller. Here are the strategies that I keep in mind when representing my clients.

Put your ego to the side. One of the biggest reasons I see real estate transactions fall through...

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The last couple months have been very busy. I’ve been dealing with multiple offers on a regular basis and have been working more than typical this time of year. I was wondering if this was just me, or if the Real Estate market was picking up, so I called people that have been in the industry as long as I have been, if not more, and asked them how the market is going for them. Here is what they had to say-

Devika Mehta, Notary Public - www.mehtanotary.com
Devika typically sees her business get...

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It has now been 18 months of a declining market. In my January newsletter of Predictions for 2019 I said by June/July the market will stabilize, and for houses it has. On a number of my listings recently I’ve had multiple offers, even selling over asking. It’s not just me, when I talk to other realtors they say they’re busy, as well as the bank appraisers. You may have noticed that those signs that have been up for sale now have sold stickers on them. This is simply because people...

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I remember seeing a movie starring George Clooney as a commercial fisherman out at sea and everything lines up to create the perfect storm. The storm catches these unaware fishermen by surprise and puts them in mortal danger. Vancouver housing is becoming the perfect storm of unaffordable and will hit us within a few years.


The government has stepped in trying to slow the real estate market by introducing new taxes, which has inadvertently created an even greater housing crisis. By adding these taxes,...

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Traditionally the spring market (March, April, May & June) is the busiest market of the year, and this year is no different. We have seen an increase in sales compared to earlier this year. The difference with this spring compared to previous springs, is that almost every day there are 3 listings to every 1 sale. We are seeing supply increase.

My concern for sellers is that we have a large supply going into a summer market when it naturally slows down. Sellers need to price sharper than ever to...

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Finally a news article that catches my attention, “Vancouver home sales hit 33-year low” from The Globe and Mail on Wednesday, April 3/19. 33 years ago, in 1986, the lower mainland population was 50% less than it was now, with a population of 1,266,152. Today we are sitting at a population of 2,555,884. There’s a lot more real estate to sell now compared to 1986, making this 33 year low more serious. The article reports that in Greater Vancouver there were 17,127 sales in...
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Counting shoes at the doorstep will tell me how many offers I’m going to get on a property.

Now that we’ve gotten two months of this year behind us in a falling market, I’m starting to see an increase in buyer activity in certain price points. One of the things I like to do when I’m at an open house is take pictures of the shoes at the front door and send it to my seller so they have an idea how many people are coming to see their home. Obviously the more shoes the better....
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Gung Hay Fat Choy!

In Chinese culture, pigs are the symbol of wealth. Their chubby faces and big ears are a sign of fortune. In this year, it is a good time in business to be brave. It’s important to remember not to be short sighted, this is the time to set up opportunities for the long term. Take some risks in investments, but to an extent. Of course there will be obstacles, but after overcoming them the road to wealth will be smooth. Real estate is a good option for these Pigs.

My interpretation...

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 2018's Real Estate market has seen the biggest dip in annual sales volume in the last 18 years. December sales were down 43.3% below the 10-year December sales average. Some people are even comparing it to 1998’s troubled market, although I feel it’s going to get worse. All through the holidays people have asked me what is going on with the market and what should they do? I’ve broken down my predictions based on attached condos/townhomes and detached houses.





Condos/Townhome...

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I’m sitting here in my office looking at a beautiful architectural rendering of a  small multi-family development I want to build that was rejected by the city. This project would create four residences to be rented out, that I’ve been going back and forth with the city over since March. On a larger scale, I was just talking to a friend that wants to build a 40 unit rental building. He said the city made it so hard and so expensive he would lose money, so he did not go ahead with...

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Hammer & Watkinson
Office: (604)876-0079
Mark Hammer: (604)761-1335
Kathryn Watkinson: (604)808-3614
Phillip Watkinson: (604)764-6552
Bob Brattston: (604)765-1731
Fax: (604)876-1047
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.