One of the most frequently asked questions we get asked is "what is an appraisal?"
An appraisal is an independent, formally presented opinion of a property's value. This value is estimated by skilled appraisers who are unbiased and impartial in their judgements.
Estimating the value of a property helps the intended user determine what a home is worth. While appraisals are often done in connection with banks for mortgage financing, appraisals are completed for a variety of reasons such as capital gains, litigation, division of assets, estate planning etc. (Click here to discover for more reasons to get an appraisal!)
Thanks to the Real Estate Board of Greater Vancouver for keeping us posted.
Here are the stats, as per their latest video:
There’s about 1,760 homes have sold in January of this year.
That’s about 30.3% increase from January of last year and about 7.2% increase in the past 10 years for the January average.
There have been 5,345 homes listed for sale in the Greater Vancouver on MLS this month.
That’s a 4% increase from January of last year and about 17% increase in the past 10 years for the January average.
There are 12,602 homes listed on MLS today.
Watch the REBGV Market Update video, CLICK HERE