Rosemary Papp

With over 35 Years Local Experience to Serve You

778-834-8021

 

As mortgage rates continue to hover in record low territory, a recent survey shows that dropping rates even further wouldn't necessarily encourage more debt*.

The survey concluded that more than 9 in 10 Canadians - 93 percent - said they wouldn't take on more debt obligations if the Bank of Canada cut interest rates.

If homeowners could refinance to a lower interest rate, the prudent thing to do would be to keep mortgage payments the same and redirect a greater percentage of the payments to go straight towards the loan principal. This way, the debt will be paid down faster, saving hundreds if not thousands of dollars in interest over the term of the loan. While the chart above shows that many homeowners understand this concept, actually working out the specifics of refinancing requires an in-depth look at your current mortgage situation, and an accurate calculation of any costs associated with re-financing.

Please call today for a no-obligation mortgage review to find out if there's a way for you to manage your loan more efficiently, and save you money!

* http://micro.newswire.ca/release.cgi?rkey=2307149137&view=14730-0&Start=&htm=0

Post CommentComments: 0Read Full Story

I have sold a property at 47 3010 RIVERBEND DR in Coquitlam.
Private trails and river included! This beautifully appointed Mosaic built Westwood townhome features fabulous open plan living/dining/kitchen with huge silestone island, deluxe stainless appliances, sundeck access from livingroom, 9' ceilings on main and loads of natural light from oversize windows. Upper level mbdrm features full ensuite with double shower, roomy 2nd BR for kids or guests; den, powder room, stacked laundry area down with interior access to spacious garage. Recent updates include modern paint pallette and carpets. Well located within development, this home is an end unit with small fenced yard situated on greenspace; side playground, visitor parking, designated car wash area. This good buy will soon be good bye!
Read Full Story

A recent Reuters poll has revealed that Canadian home prices are expected to rise a little over five percent this year, and then another two percent in 2016*.

Defying a shrinking economy that is being blamed in part on slumping oil prices, house prices have kept climbing. This has resulted in survey opinions from over 20 analysts who predict that home prices will rise 5.2 percent this year, a sharp increase from the forecasted 3.4 percent increase documented in June's survey.

The latest housing price expectations for 2016 and 2017 have also been revised upwards, to 2.0 and 2.3 percent from 1.3 and 1.7 percent respectively.

Average home prices have doubled over the past decade, but 13 of 19 survey respondents said the housing market remained affordable - at least on a national basis – because low interest rates have kept debt service costs under control.

More housing inventory is on its way: the Reuters poll also showed home building in Canada is expected to remain robust over the next year and average around 180,000 units.

What are your housing plans for next year? Please call for the latest market updates, whether you're looking to upsize, downsize or just find out the current value of your home to help you make important future moving decisions!


*http://ca.reuters.com/article/businessNews/

Post CommentComments: 0Read Full Story
I have listed a new property at 47 3010 RIVERBEND DR in Coquitlam.
Private trails and river included! This beautifully appointed Mosaic built Westwood townhome features fabulous open plan living/dining/kitchen with huge silestone island, deluxe stainless appliances, sundeck access from livingroom, 9' ceilings on main and loads of natural light from oversize windows. Upper level mbdrm features full ensuite with double shower, roomy 2nd BR for kids or guests; den, powder room, stacked laundry area down with interior access to spacious garage. Recent updates include modern paint pallette and carpets. Well located within development, this home is an end unit with small fenced yard situated on greenspace; side playground, visitor parking, designated car wash area. This good buy will soon be good bye!
Read Full Story

Source: Fraser Valley Real Estate Board

SURREY, BC – Homebuyers showed no signs of slowing down last month as Fraser Valley REALTORS® experienced their second busiest November on record.

The Fraser Valley Real Estate Board processed 1,766 property sales on the Multiple Listing Service® (MLS®) in November compared with 1,136 in 2014, an increase of 55 per cent. The previous high of 2,154 sales was set in November, 1989.

Jorda Maisey, President of the Board, says, “November is not normally this busy. We’ve experienced our usual, seasonal dip in the number of new listings, but we’re just not seeing a decline in the demand.

“If you’ve been thinking about selling your home to capitalize on any equity you’ve acquired, now is a very good time.”

The Board received 1,854 new listings last month, 14 per cent fewer than were received in October and 6 per cent more than were received during November of last year. Last month’s total inventory in the Fraser Valley was 5,761 active listings; 31 per cent less than were available during November 2014.

Maisey says, “Our housing inventory overall hasn’t been this low since spring of 2006, however it’s important to emphasize that conditions vary depending on property type. Ground-oriented homes are the highest in demand currently with about one out of every two active listings selling. For apartments, one in five is selling, so condo shoppers will find more selection and have greater negotiating power on price when it comes time to buy.”

The MLS® Home Price Index benchmark price of a detached home in November was $659,700, an increase of 14.7 per cent compared to November of last year when it was $575,400. The MLS® HPI benchmark price of Fraser Valley townhouses increased 6.7 per cent going from $298,900 in November of last year to $318,800 last month. The benchmark price of apartments was $207,100, an increase of 9.3 per cent compared to $189,400 in November 2014.

Maisey adds, “We understand that it is challenging buying a home in a market this competitive and that’s why we’re here, to help our buyers develop a successful strategy to secure the best home for them at a price they can afford.”

Find the November Statistics Package here.


Post CommentComments: 0Read Full Story
Categories: Abbotsford East, Abbotsford Real Estate | Abbotsford West, Abbotsford Real Estate | Agassiz, Agassiz Real Estate | Aldergrove Langley, Langley Real Estate | Basements | Bathrooms | BCREA | Bear Creek Green Timbers, Surrey Real Estate | Bolivar Heights, North Surrey Real Estate | Brookswood Langley, Langley Real Estate | Buyers | Buying | Canyon Springs, Coquitlam Real Estate | Christmas | Clayton, Cloverdale Real Estate | Cleaning | Cloverdale BC, Cloverdale Real Estate | Community | Contests | Coquitlam East, Coquitlam Real Estate | De | declutter | Decor | Downtown NW, New Westminster Real Estate | Energy | First Time Home Buyers | FitToSell | Fleetwood Tynehead, Surrey Real Estate | Fraser Valley News | Fraser Valley Real Estate Board | FVREB | Garages, Home Staging | Giveaways | Greater Vancouver Real Estate Board | Guest Blog | Guildford, North Surrey Real Estate | Hacks | Heating | Home | Home Improvment | Home Inspection | Home Organization | Home Organization, Tips | Home Owner | Home Owners | Home Renovations | Homeowners | Homes | Homes Staging | Homes, Outdoor | Just Listed | King George Corridor, South Surrey White Rock Real Estate | Kitchens | Langley | Langley City, Langley Real Estate | Langley Real Estate, Forest Green Estates | Listing | Listings | Maintenance | Market News | Mission BC, Mission Real Estate | MLS | Mold | Mortgage | Mortgages | Mortgages, Tips | Moving | Murrayville, Langley Real Estate | Open House | Organization | Otter District, Langley Real Estate | Panorama Ridge, Surrey Real Estate | Pets | pill | Pillar to Post | Pillar to Post, Guest Blog, Lighting | Pillar to Post, Guest Blog, Summer | Prevention | Rates | RE/MAX of Western Canada | Real Estate News | Realtors | Renovations | REW.ca | Safety | Salmon River, Langley Real Estate | Savings | Scottsdale, N. Delta Real Estate | Search for homes | Seasonal | Sellers | Selling | Selling, Tips, Open House | Seniors | Spring | SRES | Staging | Stati | Statistics | Statistics, FVREB | Sullivan Station, Surrey Real Estate | Summer | Surrey | Survey | Swimming Pools | Tip | Tips | Travel | Uncategorized | Video | Videos | Walnut Grove, Langley Real Estate | White Rock, South Surrey White Rock Real Estate | Willoughby Heights, Langley Real Estate | Winter | YouTube

Subscribe to The Rosemary Report

* indicates required
Direct: 778-834-8021
Toll Free: 1-888-707-3577
Rosemary's Email: rosemary@homesinlangley.ca
RE/MAX Treeland Realty
#101 - 6337 198 Street
Langley BC V2Y 2E3
www.HomesinLangley.ca