Rosemary Papp

With over 36 Years Local Experience to Serve You

778-834-8021

Source: RE/MAX

A home is the biggest purchase most of us will ever make, so it’s only natural to feel a little intimidated by the negotiation process. This is particularly the case for first-time buyers. Here are some tips to help you approach the negotiation process that will help you minimize stress, stay within your budget and get the best price for your new home.

GET TO KNOW YOUR MARKET

Becoming familiar with the types of properties available in your price range is an important first step. With the help of a real estate professional, you’ll also want to begin exploring neighbourhoods you’re interested in, the types of properties available in those neighbourhoods and their prices. Make note of the difference between listing and sale prices and how factors such as size, location, amenities, proximity to schools, and the age and condition of the home affect price.

Familiarity with the market will help you understand the value of the properties on the market and put you in a stronger negotiating position. While online listings are a good place to start, most buyers should expect to look at 10 to 15 homes in person before they make the decision to put in an offer.

STAY NEUTRAL

Buying your first—or even second or third—home comes with a lot of excitement and becoming emotionally attached can be easy. When looking at potential options, it often doesn’t take long to start imagining your new life there. However, it’s important that buyers do not act overly enthusiastic, particularly when the seller is home. This can put your REALTOR® at a disadvantage when negotiating for the best price. The best approach is to keep your demeanor neutral, take notes, and keep your thoughts and questions for a private conversation with your real estate agent.

FOCUS ON VALUE

When considering making an offer, many buyers assume that the asking price will be different from the selling price. In certain markets, buyers may expect the property to be listed higher than what it will sell for, while in hot markets, the opposite applies.

Rather than focusing on the listing price, focus on the value of the property. If the property is priced properly, the best strategy is to offer the listing price. If the property is not priced properly, make an offer that reflects the property’s true value. The best way to assess this is by getting to know the market and discussing your options with your REALTOR®.

A common mistake some buyers make is to put in a low offer, just to see if the seller is receptive to it. The result is often that the seller doesn’t take the offer seriously, either coming back with the original listing price or not responding at all.

Remember that just as your REALTOR® is advising you, there is also a real estate professional advising the seller on the home’s value.

THINK BEYOND PRICE

Don’t forget that price is not the only point of negotiation –terms are negotiable too. Everything from the move-in date, to home repairs, to which appliances are included in the sale, is up for negotiation.

STICK TO YOUR BUDGET

Firmly establish a budget and stick to it. In markets where demand is high and inventory low, it can be tempting to increase your budget, especially if you have put in several offers without being successful. However, it’s important to stay within a budget that you will be comfortable with for the next several years. Make your best offer and don’t budge. Home buying can be emotional, but try to keep a cool head by reassuring yourself that there will always be another house out there.

WHAT’S MY BUDGET?

When starting the search for a new home, it is important to establish a budget that you will be comfortable living within for several years. There are several handy tools to help you calculate your housing budget and plan your monthly expenses. Canada Mortgage and Housing Corporation’s Household Budget Calculator allows you to compare your income with your expenses and debt payments and see what kind of mortgage you can comfortably afford, and the RE/MAX Monthly Home Budget Planner helps you gain a better understanding of all the costs associated with home ownership.

No one knows the negotiation process better than Rosemary.

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Earth Day on April 22nd can be a pretty energetic day, with people celebrating environmental health at festivals and other events.

Let that enthusiasm motivate you to start the home projects that you’ve been putting off.

Whatever your goal, be it saving money or the earth or both, some simple energy efficiency upgrades and habit changes can save some money and create an healthier, more comfortable living space. Plus, by tapping incentives and rebates, you often can reduce your upfront costs.

1. Rebates and incentives. Each province provides an array of incentives to help you save money on your energy bills. Those in Newfoundland and Labrador, for example can find insulation rebates (http://bit.ly/2DClLhm), those in Alberta (http://bit.ly/2FHePoX) will find incentives for energy efficient lightbulbs, shower heads, and programmable thermostats.  And a program in Manitoba (http://bit.ly/2piKeE1) offers loans to pay for things like new windows and doors, insulation, home sealing, and water heating equipment. Search for incentives specific to your province at Natural Resources Canada (http://bit.ly/2GBTkmP).

2. Smart technology. Smart home technology is evolving quickly and some of the tried-and-tested basics could save you money. Programmable thermostats like the Nest, for instance, learn your occupancy habits and automatically turn down the heat and air conditioning when you’re not home. Motion sensors and automatic timers can reduce your lighting costs with little effort on your part. Other smart technologies – locks, carbon monoxide detectors, and cameras – can improve safety and convenience. In addition, smart technology may help you better market your house when you sell. A January 2018 Coldwell Banker survey shows that potential homebuyers prefer to have smart technology already installed in a prospective home.

Smart products that interest them most include:

• Thermostat (77 percent)

• Fire detector (75 percent)

• Carbon monoxide detector (70 percent)

• Camera (66 percent)

• Lock (63 percent)

• Lighting system (63 percent)

 

3. Replacing aging equipment. Investigate the newest systems and appliances so that when your current unit is on its last leg, you’ve done all the upfront research and know what you want to buy.  That way, you’re not making buying decisions under pressure and potentially losing out on the best products and deals. Look at options for new appliances, on-demand water heaters, and HVAC units. Also search for any rebates and incentives available for each system.

4. Reduce consumption. Small changes in your daily habits can reduce your monthly utility bills. Shut off lights, take shorter showers, and turn down the temperature on your water heater. Also insulate your pipes and get a blanket for your water heater.

5. Low-maintenance, fire-safe landscaping. Spring gardening season is nearly upon us. Consider a gardening strategy that relies on plants native to your region, which reduces the need for water and chemical inputs. Plus, if you remove your lawn and opt for native plants and grasses, you can drastically reduce the cost and time associated with yard maintenance. And if you live in an area prone to wildfires, consider creating an outdoor space that resists fires. That entails things like creating safe zones around your house, choosing high-moisture plants, opting for trees that are less flammable than others (maple, poplar and cherry, rather than pine and fir trees), and creating fire breaks with things like rocks and flower beds. Learn more: (http://bit.ly/2c1o7ct) and (http://bit.ly/2tTwX9s)

First-time Buyers’ Must-haves

If your market features lots of first-time buyers and you’ve been tweaking your home to appeal to that audience, you may be interested in a recent National Association of Homebuilders’ poll. It lists the top home features this group consider essential. They are:

  1. Living room
  2. Laundry room
  3. Dining room
  4. Garage storage
  5. Walk-in closet in master bedroom
  6. Both shower stall/tub in master bath
  7. Front porch
  8. Great room
  9. Two-car garage
  10. Kitchen double sink
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Source: REBGV

Are you thinking of selling your home? Before your REALTOR® begins showing your home, you will want to make sure it’s in tip-top condition. An attractive, well-kept home generally has a better chance of selling a little faster.

Minor exterior and interior improvements

Updates can add value to your home without requiring a large renovation bill. Think back to what first attracted you to your home; now determine how best to highlight and improve your home’s best features.

Here are a few ideas to help you perk up your home’s appearance. Consult with your Realtor to see what types of improvements make the most sense.

Start with the outside

  • An inviting exterior ensures that potential buyers will inspect the interior 
  • Keep lawns and gardens well maintained
  • Ensure garage and porch areas are free of clutter and refuse
  • Repair loose siding or pavement
  • Replace any damaged roof shingles, eaves troughs or cracked windows
  • Wash windows, gutters, mailbox and doors
  • Secure loose shutters or awnings

The inside story 
You can do a lot to improve the inside of your home without spending a great deal of money. Two primary areas to keep in mind are the kitchen and bathroom.

  • Ensure kitchen and bathrooms are sparkling clean;
  • Repair dripping facets and showerheads;
  • Steam clean or replace carpets if necessary;
  • Thoroughly clean every room in the house, removing all clutter;
  • Repaint dingy walls or kitchen cabinets with a neutral colour;
  • Replace worn or outdated countertops and cracked light-switch plates; and
  • Remove any items (like chandeliers) that won't be included in the sale of the home.

Remember, the more effort put into the initial clean up, the easier it will be to keep your home looking its best for visits from your REALTOR® with prospective buyers. As well, keep in mind that rooms that are too cluttered will give the impression that they're much smaller than their true size. Try to create a feeling of spaciousness when conducting your spruce-up.

Pre-showing checklist

  • As a courtesy to buyers, leave the house while the Realtor is conducting a showing
  • Keep pets out of the way – preferably out of your house during the showing
  • Ensure that every room is tidy, well aired and adequately lit
  • Don't keep money, jewellery and small valuables in plain sight during a showing
  • Open drapes to maximize natural light
  • Keep all stairways and hallways clear
  • Use finishing touches like fresh flowers and candles

By following these relatively simple tips, you'll feel proud of your home and potential purchasers are sure to appreciate its beauty.

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I have listed a new property at 27 20750 TELEGRAPH TRAIL in Langley.
Roomy, relaxing and ready! Bring everything! It will fit in this beautifully maintained 4 BR 3 bath end unit with ample adjoining greenspace! Features include mountain views from upper bedrooms, Master sanctuary with spa like ensuite, main floor open plan with granite in kitchen, built in wine cooler, meal nook with access to deck and lawn, spacious living/dining area and familyroom. Lower level features bedroom/hobby/den with private bath. Parking is a breeze with double garage. Area amenities include shops, transit, parks and schools. Call soon or this good buy will soon be good bye!
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I have listed a new property at 117 9080 198 ST in Langley.
Maxi home, mini price! Act quickly on rare value for this 2 Br 2 bath home in Forest Green Estates! Features include bright, open kitchen with garden window and nook with access to large covered treated deck, vaulted ceilings in livingroom, centre gas fireplace, spacious diningroom, roomy ensuite with extra size shower off master, walk thru Jack & Jill closets. Updates include blinds, extensive laundry room cabinets, custom double carport with attached storage nook and detached 10x10 storage/hobby shelter at rear. Amenities include clubhouse and social activities, direct access to Golden Ears Way, transit, shops and restaurants. Call soon or this good buy will soon be good bye!
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Source: RE/MAX

There are many things to consider when looking for the right home; one of those considerations should be sustainability.  A sustainable home is not only better for the environment, but it can also save you a significant amount of money in the long run.

We asked our RE/MAX Influencers—a panel consisting of RE/MAX Sales Associates throughout Canada—what sustainable features are the most important to look for when buying a sustainable home.  They responded with features that will help you conserve resources and save costs on heat, water, and electricity.

“Buyers need to determine what space heating system is in place, this is the highest monthly cost and best ROI for a homeowner. Depending on the climate, heat pumps are the best but high efficiency gas furnaces are likely the best choice,” says Rob Grey, RE/MAX of Nanaimo (founder of Real Estate Energy Efficiency Program (REEP).

“They also need to see what level of insulation is installed as this compliments space heating and is one of the least expensive improvements in single family energy efficiency.”

Grey adds it’s very important to check if the home has had an energy assessment (EnerGuide rating), which is an extensive examination by a certified energy advisor who calculates the energy performance of a home, and is LEED certified (Leadership in Energy and Environmental Design).

LEED certification provides independent, third-party verification that a building was built using strategies aimed at achieving high performance in key areas, such as: water savings, energy efficiency, material selection, and indoor environmental quality.

Windows

More than half of our influencers mentioned the importance of windows when it comes to energy efficiency. The quality of windows installed in a house greatly impact heat conservation. New double or triple pane, argon-filled windows provide extra insulation and better noise reduction for your home.

Properly insulated windows are a must for keeping heat from escaping during the cold winter months. However, the orientation of the windows to the sun should also be considered, as south-facing windows allow radiant heat from sunlight to enter the home each day.

Heating

Tied for second place along with water-saving features, a home’s heat source and heat conservation are also very important. A high-efficiency furnace, automated climate control, high value insulation, and heat recovery ventilation are must-haves among others.

South-facing windows, geothermal systems, and active solar energy systems are great sustainable features for heating a home. A geothermal system utilizes the stable ground temperature to regulate a home’s temperature, whereas an active solar energy system gathers heat from the sun.

Water

It is very important to conserve our freshwater supply. Sustainable homes utilize features that minimize water usage. Features like low-flow toilets, sinks, and showerheads, automated sprinklers, rain collectors, and xeriscaping go a long way in water conservation.

Solar

One-third of our Influencers spoke about the importance of utilizing the sun’s rays when considering sustainability. Solar panels, solar water heating, and orientation to the sun for natural heating are all ways we can effectively utilize solar energy.

Electricity

It can be difficult at times to keep up with advancements in technology. Our influencers suggest looking for LED lighting and programmable energy-efficient appliances in a sustainable home.  If the home is equipped with a solar panel array, ask for a comparison of the home’s electric generation and consumption.  Is there a charging outlet in the garage for a potential future electric car?

***

Are you searching for the home that is in a great location and is the perfect style for you? Rosemary can help you with your search.

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Source: Fraser Valley Real Estate Board

SURREY, BC – While sales reached slightly above the ten-year average for the month, a lack of sufficient inventory in the Fraser Valley continued to put pressure on homebuyers in March.

The Fraser Valley Real Estate Board processed 1,664 sales of all property types on its Multiple Listing Service® (MLS®) in March, a decrease of 24.8 per cent compared to the 2,213 sales in March of last year, and a 20.1 per cent increase compared to the 1,385 sales in February 2018. The ten-year average for sales in the Fraser Valley in March is 1,658 transactions.

Of the 1,664 sales processed last month, 410 were townhouses and 460 were apartments, together representing 52 per cent of all transactions in March.

Active inventory for the Fraser Valley finished at 4,796 listings last month, increasing 10.5 per cent month-over-month, and decreasing 0.2 per cent when compared to March 2017.

“We continue to see demand capped-off due to an inadequate amount of supply,” said John Barbisan, Board President. “March is typically when we see our market kick into gear, but we need to see higher levels of new listings coming in and greater overall inventory if we want more homebuyers to find success in the Valley.”

The Board received 2,865 new listings in March, a 24.9 per cent increase from February 2018’s 2,293 new listings and a 6.7 per cent decrease compared to March 2017.

“On the plus side, despite a tighter market pricing has remained relatively stable for our region. Talk to your REALTOR® who can help show you the best options at the price level you’re looking for.”

For the Fraser Valley region the average number of days to sell an apartment in March was 13, and 16 for townhomes. Single family detached homes remained on the market for an average of 30 days before selling.

HPI® Benchmark Price Activity

  • Single Family Detached: At $1,001,400, the Benchmark price for a single family detached home in the Valley increased 0.9 per cent compared to February 2018, and increased 15.2 per cent compared to March 2017.
  • Townhomes: At $541,800, the Benchmark price for a townhome in the Fraser Valley increased 2 per cent compared to February 2018, and increased 24.9 per cent compared to March 2017.
  • Apartments: At $440,400, the Benchmark price for apartments/condos in the Fraser Valley increased 4.3 per cent compared to February 2018, and increased 48 per cent compared to March 2017.

Find the March Statistics Package here.


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Source: RE/MAX

If you are a homeowner and you decide to enter the market, you’re faced with a difficult question: Especially if you’ve never sold your home before.

Do you buy your next home before selling? Or do you sell your current home before buying?

We reached out to our RE/MAX Influencers—a panel consisting of RE/MAX Sales Associates from throughout Canada—to find out their opinion on whether homeowners who are re-entering the market should buy first or sell first.

It all depends

The majority of our RE/MAX Influencers agreed that each situation is unique, and several factors need to be looked at to determine the answer of that question. For example: What are the current market conditions? And are you financially capable of carrying two properties with ease?

“It absolutely depends on the market situation,” says Justus Smith, RE/MAX Crown Real Estate (East). “If the client is selling in a hot seller’s market, then they would likely want to find their next home first and buy it. However, if they are selling in a buyer’s market, it’s better to get their property sold before venturing out to purchase another home.”

Pros of buying first

By buying first, homeowners are less rushed to find the right home, so they can spend time making sure the new house fits as many of their needs as possible.

“The ideal situation is to purchase a home and then sell your current property,” says Sarah Leib, RE/MAX River City.

“Buying without having to sell first allows buyers to find the right home at their own pace,” adds Shauna Bailey, RE/MAX Crown Real Estate North.

Although buying first has some advantages, this situation isn’t financially feasible for everyone. There may be a possibility to add in a sale of home condition to the offer; however, competing offers without that condition will likely be more desirable.

“Buyers should consult with their lender to discuss the possibility to arrange interim financing; therefore, enabling them to make an offer without this condition—provided they qualify—with the intention of ultimately selling their current home once they confirm the new purchase,” says Glen Darough, RE/MAX RHC Realty.

Pros of selling first

Many aren’t able to afford the cost of carrying two properties, and trying to do so may cause significant stress.

“The risk of having to discount your home to create a quick sale just isn’t a pleasant experience,” says Eric Steinbach, RE/MAX Kelowna. “(Clients) can negotiate a better purchase price being strong on finance.”

“It really depends how comfortable my clients are to have the possibility to have to bridge finance or carry two mortgages. I always suggest to sell first, but there are a lot of buyers out there who are scared they won’t find what they are looking for,” says Elio Parente, RE/MAX City Realty.

Rosemary can guide you through your unique situation and help determine whether buying first or selling first is the right decision for you.

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I have listed a new property at 16 8737 212 ST in Langley.
It will pay to act quickly on this 3 BR 2 bath home in Chartwell Green! Perfect for the empty nest couple, features of this home include main floor master with full ensuite and walk in closet, soaring vault ceiling with cozy gas fireplace in livingroom/diningroom, bright nook in step saver kitchen, upper floor bedrooms offer perfect guest accommodation with private access to main bath and a mobility stair chair is available to access upper rooms. Amenities include sunny patio, clubhouse with pool and hot tub, workshop and social centre with kitchen facilities. Walnut Grove location offers trails, parks, shops and transit. Holiday at home and retire in style! One small pet ok, call soon or this good buy will soon be good bye!
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Source: RE/MAX

We’ve been told not to judge a book by its cover, but first impressions usually impact our decision-making, whether we care to admit it or not.

Therefore, a well-staged home typically has a better chance of selling at a higher price than one that hasn’t been staged.

We reached out to our RE/MAX Influencers—a panel consisting of RE/MAX Sales Associates from throughout Canada—to discover why sellers shouldn’t have “stage fright” when it comes to selling their home.

Faster sale, higher price

Our Influencers agreed that effective staging will help sellers get the deal done quicker, for a higher price.

“I guarantee sellers that, while I don’t know the exact amount they will receive as a result of staging, I know they will get more than their money back and they will sell their home in a shorter period of time than they would without staging,” said one RE/MAX Influencer.

A buyer can tap into his/her imagination when a home is shown in its best light. When potential buyers can see themselves living in your home, they will be motivated to make a reasonable offer.

The ‘Wow’ factor

Simply put: Homes look their best when they are staged.

Staged homes are also depersonalized, which is important because buyers don’t want to feel like they’re purchasing somebody else’s home. They want it to feel as though it’s theirs.

Stagers understand how to professionally present homes to appeal to the emotions of the broader spectrum of prospective purchasers. Photographs of a staged home are also more likely to garner increased interest online.  

Visualization

When potential buyers walk into a home, they’re thinking beyond what their eyes are showing them. They’re visualizing themselves living in the space. Is the home an ideal place for their children to grow up? Does the house have what they need to enjoy retirement?

Personal clutter can often hinder these visions, which is not ideal for the seller. A professional stager will take an objective look at the property and make sure prospective purchasers will be able to see themselves in the space.

A positive first impression

First impressions are incredibly important. On many occasions, buyers will form their opinions by the time they’ve taken a few steps into your home. A bad smell, a crooked frame or a bit of dirt on the floor can be the difference between whether or not you get an offer.

Great books deserve stunning covers; great homes deserve to be staged.

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Source: Fraser Valley Real Estate Board

SURREY, BC – Despite slight increases in both active and new inventory in the Valley, overall supply in February remained well below the ten-year average for the month historically.

The Fraser Valley Real Estate Board processed 1,385 sales of all property types on its Multiple Listing Service® (MLS®) in February, a decrease of 0.8 per cent compared to the 1,396 sales in February of last year, and a 14.5 per cent increase compared to the 1,210 sales in January 2018.

Of the 1,385 sales processed last month, 336 were townhouses and 379 were apartments, together representing 52 per cent of all transactions in February.

“Attached apartment inventory, in particular, has struggled to keep up with the shift in demand we saw prominently throughout last year,” said John Barbisan, Board President. “Without sufficient supply, it has become increasingly challenging for buyers looking to enter the market at that level.”

Active inventory for the Fraser Valley finished at 4,340 listings last month, increasing 9.5 per cent month-over-month, and decreasing 6.6 per cent when compared to February 2017. The 10-year average for February active inventory is 7,487 units.

The Board received 2,293 new listings in February, a 9.6 per cent increase from January 2018’s 2,092 new listings, and a 5.6 per cent increase compared to February 2017.

“With the sales-to-actives ratio for townhomes and apartments at 67 per cent and 75 per cent respectively, sellers can expect interest if they price their homes effectively. Talk to your REALTOR® who can evaluate your local market and find the right price point for success.”

For the Fraser Valley region the average number of days to sell an apartment in February was 13, and 16 for townhomes. Single family detached homes remained on the market for an average of 38 days before selling.

HPI® Benchmark Price Activity

  • Single Family Detached: At $992,100, the Benchmark price for a single family detached home in the Valley increased 1 per cent compared to January 2018, and increased 15.7 per cent compared to February 2017.
  • Townhomes: At $531,000 the Benchmark price for a townhome in the Fraser Valley increased 2.2 per cent compared to January 2018, and increased 25.4 per cent compared to February 2017.
  • Apartments: At $422,300, the Benchmark price for apartments/condos in the Fraser Valley increased 4.5 per cent compared to January 2018, and increased 46.7 per cent compared to February 2017.

Find the February Statistics Package here.

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I have sold a property at 303 20125 55A AVE in Langley.
Park like setting - literally! This top floor corner unit overlooks Linwood Park in Langley City. Features include a bright, open floor plan, 2 spacious bedrooms, 5 piece ensuite in master, access to huge deck from 2nd bedroom and livingroom, pass thru from kitchen to dining area, in suite laundry. Amenities include secure parking, storage and social room. Common area includes full envelope reno, windows, railings and roof. Shops and transit are close by. Call soon or this good buy will soon be good bye!
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I have listed a new property at 303 20125 55A AVE in Langley.
Park like setting - literally! This top floor corner unit overlooks Linwood Park in Langley City. Features include a bright, open floor plan, 2 spacious bedrooms, 5 piece ensuite in master, access to huge deck from 2nd bedroom and livingroom, pass thru from kitchen to dining area, in suite laundry. Amenities include secure parking, storage and social room. Common area includes full envelope reno, windows, railings and roof. Shops and transit are close by. Call soon or this good buy will soon be good bye!
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I have sold a property at 70 2315 198 ST in Langley.
Roomy and awesome floor plan creates a nice flow though this spacious 2 BR 2 bath home with features that include entertainment size living and dining room, open kitchen with ample cupboards, separate pantry cupboard, adjoining laundry room. Large master offers oversize walk in closet, 2 pce. ensuite, 2nd BR ideal for guests. The exterior features a covered deck perfect for year round use, attached storage with power and separate storage outbuilding and level yard space. This popular community is for those 45+ (no resident under 17) and 1 small pet. Call soon or this good buy will soon be good bye!
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Source: Fraser Valley Real Estate Board

SURREY, BC – Fraser Valley housing market activity in January continued on the momentum seen throughout 2017 with year-over-year increases seen for both sales and pricing.

The Fraser Valley Real Estate Board processed 1,210 sales of all property types on its Multiple Listing Service® (MLS®) in January, an increase of 24 per cent compared to the 976 sales in January of last year, and a 10 per cent decrease compared to the 1,344 sales in December 2017. This was the third highest sales total for a January in the Board’s history, behind only 2016 (1,338) and 1992 (1,270).

Of the 1,210 sales processed last month, 281 were townhouses and 338 were apartments, together representing 51 per cent of all transactions in January.

“This will be the third consecutive year of heightened market activity for our region, and we’re starting 2018 exactly where we left off – gradually rising prices, tight inventory, and the dominance of attached home sales,” said Gopal Sahota, Board President.

Active inventory for the Fraser Valley finished at 3,962 listings last month, increasing 3.8 per cent month-over-month, and decreasing 10 per cent when compared to January 2017. January’s sales-to-active listing ratio was 31 per cent.

The Board received 2,092 new listings in January, a 63.8 per cent increase from December 2017’s 1,277 new listings, and a 3.9 per cent decrease compared to January 2017.

“Generally, pricing continues to be heavily impacted by ongoing demand and a lack of incoming inventory,” continued Sahota. “While conditions may differ depending on property type and area, it remains a complex real estate environment overall where a thorough understanding of the market and knowing what you’re looking for can make all the difference.”

For the Fraser Valley region the average number of days to sell an apartment in January was 19, and 24 for townhomes. Single family detached homes remained on the market for an average of 46 days before selling.

HPI® Benchmark Price Activity

  • Single Family Detached: At $982,700, the Benchmark price for a single family detached home in the Valley increased 0.6 per cent compared to December 2017, and increased 15.1 per cent compared to January 2017.
  • Townhomes: At $519,400 the Benchmark price for a townhome in the Fraser Valley increased 1.2 per cent compared to December 2017, and increased 23.4 per cent compared to January 2017.
  • Apartments: At $404,100, the Benchmark price for apartments/condos in the Fraser Valley increased 4 per cent compared to December 2017, and increased 44.1 per cent compared to January 2017.

Find the January Statistics Package here.

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I have listed a new property at 70 2315 198 ST in Langley.
Roomy and awesome floor plan creates a nice flow though this spacious 2 BR 2 bath home with features that include entertainment size living and dining room, open kitchen with ample cupboards, separate pantry cupboard, adjoining laundry room. Large master offers oversize walk in closet, 2 pce. ensuite, 2nd BR ideal for guests. The exterior features a covered deck perfect for year round use, attached storage with power and separate storage outbuilding and level yard space. This popular community is for those 45+ (no resident under 17) and 1 small pet. Call soon or this good buy will soon be good bye!
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I have sold a property at 72 2315 198 ST in Langley.
The price is right, no need to guess! Act quickly on this well maintained 2 BR home situated in park like setting on cul de sac in Deer Creek Estates! Features include cozy, bright living room with gas fireplace, updated kitchen with adjoining eating area, full size laundry, covered parking and deck, separate storage with power. Amenities include clubhouse & social activities. This community lifestyle is for those 45+ and 1 small pet, shopping, pub and transit near, call soon or this good buy will soon be good bye!
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Source: RE/MAX Canada

Low inventory in Fraser Valley was the driving force behind price appreciation in the region in 2017 as demand continued to outpace supply. There are currently two months of inventory on the market and this is expected to remain consistent in 2018, as there is limited new inventory expected to enter the market. This is partially due to Agriculture Land Reserves, focused on farmland and fisheries, which limit residential real estate development opportunities in the surrounding region. The luxury segment of the market remains stable, with the typical upper-end property selling for between $2 million and $4 million.

Read the full Fraser Valley Report here

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I have listed a new property at 72 2315 198 ST in Langley.
The price is right, no need to guess! Act quickly on this well maintained 2 BR home situated in park like setting on cul de sac in Deer Creek Estates! Features include cozy, bright living room with gas fireplace, updated kitchen with adjoining eating area, full size laundry, covered parking and deck, separate storage with power. Amenities include clubhouse & social activities. This community lifestyle is for those 45+ and 1 small pet, shopping, pub and transit near, call soon or this good buy will soon be good bye!
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Source: Fraser Valley Real Estate Board

SURREY, BC – The Fraser Valley housing market had its second highest selling year on record in 2017, with total MLS® transactions and dollar volume sold behind only 2016’s unprecedented level of activity.

The Board’s Multiple Listing Service® (MLS®) processed 22,338 sales in 2017, 7.3 per cent less than the record of 23,974 sales set in 2016. The total dollar volume of MLS® sales was $15.7 billion, coming out slightly beneath 2016’s record setting total dollar volume of $16.2 billion.

Of the total transactions for the year, 5,198 were townhouses sold and 6,183 were apartments, together representing over half of overall market activity for the region. This was also the highest total annual sales for apartments in the Board’s history.

“Much of the market’s momentum through 2017 came from the incredible shift in demand to attached-style homes, particularly in our larger communities,” remarked Gopal Sahota, President of the Board.

“While prices continued to see slight gains month-to-month, a lot of our attached inventory remained affordable and an excellent option for consumers of all types.”

For inventory, a total of 32,651 new listings were received by the Board’s MLS® system, the third highest in the Board’s history after 2016 (34,768) and 2008 (35,651).

Last month the Board processed 1,344 sales, the second-most transactions for a December on record in the Fraser Valley. December inventory finished at 3,818 active units, with a total of 1,277 new listings entering the market throughout the month.

Sahota adds, “All year, supply levels remained below where we’d like them to be, and that has put a tight grip on inventory and pressure on the pace of the market. This is still a challenging market for many consumers.

“However, if you have your finances in order, and the support of a local REALTOR® who fits your needs, you’ll be in the best position to make a move in 2018 and find success.”

HPI® Benchmark Price Activity

  • Single Family Detached: At $976,400, the Benchmark price for a single family detached home in the Valley increased 0.4 per cent compared to November 2017, and increased 14.2 per cent compared to December 2016.
  • Townhomes: At $513,100, the Benchmark price for a townhouse in the Valley increased 1.5 per cent compared to November 2017, and increased 23 per cent compared to December 2016.
  • Apartments: At $388,600, the Benchmark price for an apartment in the Valley increased 3.2 per cent compared to November 2017, and increased 40.5 per cent compared to December 2016.

Find the December Statistics Package here.

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