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Inventory continues to climb in Fraser Valley as sales simmer

SURREY, BC – The Fraser Valley housing market kicked-off summer with a further increase to overall inventory and a downturn in sales across all major residential property types.


The Fraser Valley Real Estate Board processed 1,452 sales of all property types on its Multiple Listing Service® (MLS®) in June, a decrease of 43.5 per cent compared to the 2,571 sales in June of last year, and a 17.4 per cent decrease compared to the 1,758 sales in May 2018.


Of the 1,452 sales processed last month 364 were townhouses and 392 were apartments, together representing 52 per cent of all transactions in June.


Active inventory for the Fraser Valley finished at 7,141 listings last month, increasing 6 per cent month-over-month and 30.1 per cent year-over-year.


“Demand is shifting back towards typical levels for our region, and market activity is reflecting that,” John Barbisan, President of the Board, said. “This has given our inventory a much-needed chance to recover and move the Valley towards a more balanced real estate landscape.”


The Board received 3,140 new listings in June, a 20.8 per cent decrease from May 2018’s 3,965 new listings, and a 15.3 per cent decrease compared to June 2017.


"One thing that isn’t changing quickly is pricing; prices are still increasing but we continue to see a gradual slowdown in upwards movement,” Barbisan continued. "If home prices are keeping you back from selling or starting to look for a new home, talk to a REALTOR® who can provide a comprehensive view of communities you're interested in and what opportunities are available there."


For the Fraser Valley region the average number of days to sell an apartment in June was 21, and 19 for townhomes. Single family detached homes remained on the market for an average of 26 days before selling.


HPI® Benchmark Price Activity 


• Single Family Detached: At $1,018,900, the Benchmark price for a single family detached home in the Valley decreased 0.2 per cent compared to May 2018, and increased 9 per cent compared to June 2017.


• Townhomes: At $558,000, the Benchmark price for a townhome in the Fraser Valley increased 0.5 per cent compared to May 2018, and increased 19.5 per cent compared to June 2017.


• Apartments: At $453,500, the Benchmark price for apartments/condos in the Fraser Valley increased 0.1 per cent compared to May 2018, and increased 39.4 per cent compared to June 2017.


Full package:
http://www.fvreb.bc.ca/statistics/Package201806.pdf

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You've probably heard about "home staging". As the name implies, it's all about arranging each room in your home in a way that will make the best impression on buyers. Here's what you need to know about staging if you're thinking of listing your property.

 

1. Staging can get you a higher price.


On average, a fully-staged home tends to sell for 17% more than an unstaged home of the same type in the same local market. Depending on the current market value of your property, doing some staging in your home could put thousands of extra dollars in your pocket, post-sale.

 

2. It can speed up the sale.


A study by the Real Estate Staging Association (RESA) showed that fullystaged homes spend an average of 90% less time on the market. So, if you need to sell quickly – without dropping your price – or you just want the comfort of having offers come in sooner, staging will definitely help.

 

3. You don't have to go crazy.


Completely staging every room in your home is going to give you the full benefits of this strategy. However, you don't have to go that far. In fact, just implementing a few simple staging techniques to some key rooms can make a big difference.

 

4. Get professional help or advice.


When it comes to home staging, don't guess at it. Get professional help or advice. As a REALTOR®, We have a lot of expertise in this area and often provide clients with proven, do-it-yourself staging tips and suggestions. If necessary, we can also recommend a professional stager.

 

Contact us anytime

 

Thanks Aaron & Michelle

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Fraser Valley market finds comfortable pace in May as inventory reaches highest level in two years.

SURREY, BC – The Fraser Valley stepped towards a more balanced market in May, with both sales and overall inventory reaching their highest points for the year.

 

The Fraser Valley Real Estate Board processed 1,758 sales of all property types on its Multiple Listing Service® (MLS®) in May, a decrease of 35.1 per cent compared to the 2,707 sales in May of last year, and a 2.9 per cent increase compared to the 1,708 sales in April 2018.

 

Of the 1,758 sales processed last month 417 were townhouses and 516 were apartments, together representing 53 per cent of all transactions in May.

 

Active inventory for the Fraser Valley finished at 6,736 listings last month, the highest level since September 2015, increasing 18.9 per cent month-over-month and 29.5 per cent when compared to May 2017.

 

"This is the most inventory we’ve had in over two years," said John Barbisan, Board President. “Now that the pace of our market has begun to settle, we’re seeing more opportunities for buyers and less pressure to make fast decisions.”

The Board received 3,965 new listings in April, a 15.6 per cent increase from April 2018’s 3,429 new listings, and a 6.8 per cent increase compared to May 2017.

 

"Sales continue to be strong and there’s plenty of potential for sellers if they understand the market and price effectively. Consult your local REALTOR® for informed perspective on what’s happening in your community and what your best options are.”

 

For the Fraser Valley region the average number of days to sell an apartment in May was 15, and 16 for townhomes. Single family detached homes remained on the market for an average of 24 days before selling.

 

HPI® Benchmark Price Activity 


• Single Family Detached: At $1,020,800, the Benchmark price for a single family detached home in the Valley increased 1.1 per cent compared to April 2018, and increased 11.6 per cent compared to May 2017.

 

• Townhomes: At $555,500, the Benchmark price for a townhome in the Fraser Valley increased 1 per cent compared to April 2018, and increased 20.6 per cent compared to May 2017.

 

• Apartments: At $452,900, the Benchmark price for apartments/condos in the Fraser Valley increased 1.2 per cent compared to April 2018, and increased 42.4 per cent compared to May 2017.

 

Full package:
http://www.fvreb.bc.ca/statistics/Package201805.pdf

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Buying a new pair of shoes is relatively easy. Once you find the style you like, all you need to do is try them on and see if they fit. If they do, you go to the cash register and pay.

 

When it comes to size, buying a new home can be trickier! Whether your intention is to upsize or downsize, figuring out the right size can be especially challenging.

 

Say for example, you’re downsizing from a large two-story home to a smaller bungalow. You don’t want to underestimate the space you need and end up in a place that feels tight. If you’re going the other way and upsizing, you don’t want to end up sinking extra money into a property that’s larger than you really need.

 

So how do you avoid these scenarios?

 

One of the best ways is to start by considering your current home. Do you use all the rooms in your home regularly? Is there a bedroom that’s rarely occupied? Has the recreation room become simply a storage area? If you’re downsizing, subtracting rooms you scarcely use can give you a better idea of what you need in a new home.

 

Upsizing is a bit more challenging because you have to anticipate what you will need in the future. For example, if you have young children, and your place is feeling cramped, then a home with a recreation room or separate family and living rooms may be a good idea. You may also need a bigger kitchen with a spacious eating area (in addition to a separate dining room.) Think about the extra room you’ll need and how you’ll use that space.

 

When I work with a client, I typically sit down with them and discuss the type of home they want in detail — and, based on needs and circumstance, I make expert recommendations. Bottom line, I help clients find the perfect fit in a new home.

 

Contact us if you’d like to learn more. 

 

Thanks,

 

Aaron & Michelle

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Get in to Pre-view before the gerneral Public

 

The Georgia – Langley’s most exquisite new condominium development features two 5 storey buildings situated on the edge of Downtown Langley. These spacious and thoughtfully designed homes are the perfect match of style and function. Featuring 9’ ceilings, open concept living, stainless steel appliances, granite counters, high quality laminate floors and even air conditioning in master bedrooms. The Georgia is just steps away from shopping, restaurants, parks, evening entertainment and schools offering the lifestyle of urban living with the comforts of suburbia. 

All built to the high standard that Whitetail Homes is known for, you can be assured your new home at The Georgia will be a sound and stable investment for years to come. 

Sign up below to book your private showing...

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New Fraser Valley listings stood-up as spring market fails to show in April

SURREY, BC – Buyer activity in the Fraser Valley stayed coy throughout April despite a bump in inventory across all three major residential types.

 

The Fraser Valley Real Estate Board processed 1,708 sales of all property types on its Multiple Listing Service® (MLS®) in April, a decrease of 23.4 per cent compared to the 2,230 sales in April of last year, and a 2.6 per cent increase compared to the 1,664 sales in March 2018.

 

Of the 1,708 sales processed last month 413 were townhouses and 498 were apartments, together representing 53 per cent of all transactions in April.

 

Active inventory for the Fraser Valley finished at 5,667 listings last month, increasing 18.2 per cent month-over-month, and 15.3 per cent when compared to April 2017.

 

"While it's great to see the increase in inventory we were looking for, both buyers and sellers remain careful as pricing continues to climb," said John Barbisan, Board President.

 

The Board received 3,429 new listings in April, a 19.7 per cent increase from March 2018’s 2,865 new listings, and a 16.2 per cent increase compared to April 2017.

 

"This isn’t the same spring market we saw each of the last two years, but listings that are selling are still going fast. If you’re considering buying or transitioning from a strata to a detached home, be prepared to move quickly, and talk to a REALTOR® who can support you through the whole process.”

 

For the Fraser Valley region the average number of days to sell an apartment in April was 14, and 16 for townhomes. Single family detached homes remained on the market for an average of 26 days before selling.

 

HPI® Benchmark Price Activity 

• Single Family Detached: At $1,009,200, the Benchmark price for a single family detached home in the Valley increased 0.8 per cent compared to March 2018, and increased 13.5 per cent compared to April 2017.

 

• Townhomes: At $549,900, the Benchmark price for a townhome in the Fraser Valley increased 1.5 per cent compared to March 2018, and increased 23 per cent compared to April 2017.

 

• Apartments: At $447,500, the Benchmark price for apartments/condos in the Fraser Valley increased 1.6 per cent compared to March 2018, and increased 45.8 per cent compared to April 2017.

 

Full package:
http://www.fvreb.bc.ca/statistics/Package201804.pdf

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An Open House is an event. And, like many events, it’s easy to get caught up in all the excitement and energy. In fact, when you visit an Open House, you might even end up rubbing elbows with other buyers who are there at the same time. It can feel like a party!

 

In an environment like that, it’s not unusual to forget to ask important questions about the property. Here are some of the most common:

 

• How old is the roof?

• How old is the furnace, air conditioner and other HVAC equipment?

• How does the price compare to similar properties in the neighbourhood? (You don’t want to make an offer that’s too       high.)

• What are the characteristics of the neighbourhood? (Amenities, safety, traffic, access to public transit, property     turnover, etc.)

• What doesn’t come with the home? (Ask specifically about kitchen appliances, gas-connected BBQs, chandeliers,   window coverings.)

• Are there any potential impediments to the sale? (Tenants, outstanding liens, etc.)

• Are there any outstanding maintenance issues, or repairs that need to be done? (For example, cracked ceramics on   the foyer floor.)

• Are there any issues that impact the full use of the property? (Ask specifically about shared driveways or walkways,   public “right of way” through the property, water drainage rights from neighbouring homes, etc.)

 

Yes, an Open House can feel like a frenzy, and if it’s a home you love, you might feel pressured to make an offer. But, it’s important to take the time to ask the right questions and consider your decision carefully. You don’t want to find out, too late, that there were questions you should have asked.

 

Want more tips on finding the home of your dreams? Call today.

 

Thanks,

 

Aaron & Michelle

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You probably don’t realize that the Rent you pay is probably the same or it might even be a bit more than a mortgage payment . . . . so call us to find out.

 

Why pay someone else’s mortgage when you can own your own home?

 

Some things to consider before you buy:

 
  • Do you have a stable job with steady income?
  • Do you have a down payment saved up? 
  • Do you have access to a down payment? Which can be as little as 5%
 

 If you are renting and think you can’t afford a home of your own . . . .THINK AGAIN!

Buying costs significantly less than renting in the long run.

 

As a renter, your monthly costs may not be very different from that of a condo owner.

 

One of the biggest advantages of owning a condominium is building equity each month as a property owner. You will build equity 100 percent faster than if you were renting an apartment, since renters can’t build equity at all in property they don’t own.

 

Either way you are paying a mortgage, so why not have it be YOURS?

 

Fill out the form below to find out...

 

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Spring market kicks-off with slim supply in March

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.

 

Full package:
http://www.fvreb.bc.ca/statistics/Package201803.pdf

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BUY HERSELF - Mortgage Information Night
 

Please join Cynthia Dreger, Mortgage Consultant and Michelle Anderson, REALTOR® from Haus RE at "BUY HERSELF" a Mortgage Information night on April 26 at The Local Space in Langley.

Their Mission: To Empower Women Through Financial Literacy

Did you know 47% of single women, and 35% married women, know very little about finances. 42% do not know their credit score.

According to Statistics Canada women scored 58.6% on 14 questions regarding financial literacy.

Michelle and Cynthia, have teamed up to change these statistics and help increase women’s financial knowledge. We are going to provide information and answer your questions in a relaxed, non-judgmental setting.

Do you want to learn how to establish and maintain good credit? The costs involved in purchasing a home? How to position yourself for an approval on your mortgage application? Whether you are self-employed, a first-time homebuyer, new to Canada, or looking for a rental property, or any property, whatever the case, we can help you figure it out.

Come to our FREE event April 26th!
Snacks and beverages will be provided.
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Join me on March 15th at the Royal Bank in Cloverdale 17931 - 56th Ave from 6-8pm and learn all about the new Mortgage Rules and how they apply to you.

 

 Email, Call or Text me to RSVP - michelle@hausre.com 778-386-3765

 

 

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Lack of supply continues to command Fraser Valley housing market


SURREY, BC – Despite slight increases to 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.

 

Full package:
http://www.fvreb.bc.ca/statistics/Package201802.pdf

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