Abbotsford & Mission Real Estate Insider

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Fast Abbotsford | Mission News

  • Fast levitating businessman, on a road, using a laptop computerSPRING MARKET?

Locally higher price housing has seen an upsurge in sales. Subdivisions like Eagle Mountain in Abbotsford have recorded solid increased sales in both new and existing homes. Perhaps this is a result of the buoyant market to the west in White Rock, Vancouver, etc spilling over.

  • OIL PRICES – BC REAL ESTATE VALUES UPDATE

Alberta Real Estate is showing the effects of the large drop in oil prices. For us in BC, we should not be overly affected and indeed, it could have a positive impact for the BC economy. Lower gas prices, more tourism, and less residents shopping across the border all can have an impact on the BC economy which supports BC housing.

  • Market Commentary

Well at least it feels like Spring for us in this part of Canada, yet in some parts of the country it still looks cold! The latest happenings in the mortgage rate war are a sure sign that “The Spring Real Estate Market” is in full bloom.

Some smaller lenders are promoting some record low rates, but they may come with conditions that may make them restrictive for borrowers in Abbotsford, Mission and Chilliwack.

The housing industry, though, seems to be anticipating some pent-up demand. Housing starts for March climbed. Urban multiples led the way with a 48.2% jump. CMHC points out, though, that the trend is lower since September.

None the less, the forward looking building permits numbers are positive. Despite a slight, overall decline in February, residential permits saw a 1.5% increase powered by a 20.7% surge in multi-family permits. The numbers were dragged down by the non-residential component in central Canada, led by Quebec.

This blog is written and supported with the help of: www.HomelifeAbbotsford.ca OR www.HomelifeMission.ca

300 – 3303 Immel St. Abbotsford BC V2X 5Y1

1 – 32540 Logan Ave Mission BC V2V 6G3

O 604 859 3141 or 604 826 2699 F  604 859 5226 or 604 826 2621

Connect with us on Facebook:

www.facebook.com/HomelifeRealEstate

www.linkedin.com/company/3150480

Abbotsford Real Estate | Abbotsford Homes For Sale

Abbotsford real estate for sale, Abbotsford REALTORS®, and Abbotsford MLS® Listings. Access Abbotsford real estate listings, Abbotsford REALTORS®, new homes and Abbotsford foreclosures. We also have information on Abbotsford home selling, home buying and mortgages, movers and other realty services in Abbotsford and area.

Mission Real Estate | Mission Homes For Sale

Mission real estate for sale, Mission REALTORS®, and Mission MLS® Listings. Access Mission real estate listings, Mission REALTORS®, new homes and Mission foreclosures. We also have information on Mission home selling, home buying and mortgages, movers and other realty services in Mission and area.

Advantages for the Experienced Agent with HomeLife Glenayre Realty Co. Ltd.:

  • Experienced Management
  • Household name in local market
  • Number one office in technology services
  • Office of the future
  • First paperless in Canada
  • Latest web services including social networking
  • Cheers

 


ENERGY EFFICIENT – NEW HOUSING TRENDS LOCALLY

Trends World Map Marketing Ideas Social Style ConceptFrom LA to Vancouver, Buyers are not asking as much for previous popular trends and instead seem to be trending back to more practicality. While this is not a huge percentage change, it indicates energy is becoming more important and builders are paying more attention.

Not As Popular

  • outdoor kitchens
  • sunrooms
  • whirlpools

On The Rise

  • Low-E windows
  • walk-in master closets
  • larger laundry rooms
  • energy rated appliances
  • programmable thermostats

Big trends like outdoor kitchens, sunrooms, media rooms, and whirlpools in the master bathroom have lost some demand. Now gaining ground is Low-E windows, walk-in master closets, larger laundry rooms, energy rated appliances, and programmable thermostats. And while whirlpool bathtubs may have declined, multiple shower heads have increased. Some builders report that with energy concerns, high 2-storey ceilings are not as popular and that somewhat lower ceilings appeal to those energy conscious Buyers.

These are just trends – many people still love baths and all the extras. Does this help you, hurt you or not affect you? Please comment below.

This blog is written and supported by: www.HomelifeAbbotsford.ca OR www.HomelifeMission.ca

300 – 3303 Immel St. Abbotsford BC V2X 5Y1

1 – 32540 Logan Ave Mission BC V2V 6G3

O 604 859 3141 or 604 826 2699 F  604 859 5226 or 604 826 2621

Connect with us on Facebook:

www.facebook.com/HomelifeRealEstate

www.linkedin.com/company/3150480

Abbotsford Real Estate | Abbotsford Homes For Sale

Abbotsford real estate for sale, Abbotsford REALTORS®, and Abbotsford MLS® Listings. Access Abbotsford real estate listings, Abbotsford REALTORS®, new homes and Abbotsford foreclosures. We also have information on Abbotsford home selling, home buying and mortgages, movers and other realty services in Abbotsford and area.

Mission Real Estate | Mission Homes For Sale

Mission real estate for sale, Mission REALTORS®, and Mission MLS® Listings. Access Mission real estate listings, Mission REALTORS®, new homes and Mission foreclosures. We also have information on Mission home selling, home buying and mortgages, movers and other realty services in Mission and area.

Advantages for the Experienced Agent with HomeLife Glenayre Realty Co. Ltd.:

  • Experienced Management
  • Household name in local market
  • Number one office in technology services
  • Office of the future
  • First paperless in Canada
  • Latest web services including social networking
  • Cheers

To Smell or not to Smell?

Garbage QuestionsPfizer Canada states homes that have a heavy smoke smell can sell up to 29% lower. Of course, they sell products that can help eliminate or mask smells. Some methods Sellers use to freshen up their home before showings is to employ air fresheners, scented candles, etc – vanilla, cinnamon, apple and lemon are usually the most pleasant.

  • Heavy smoke smell can sell up to 29% lower
  • Average Fraser Valley Market Value this month is $727,357
  • Potential loss to bad smells are as high as (-$210,933.53) – ouch!

If a home has a real strong smell of smoke, cooking odors or pets, there are professional methods to improve the home which should be considered. As a Realtor, if I show a home with lots of electrical fresheners and candles it sets off a warning bell; I take note that further investigation is needed so my Buyers are not shocked when they move in.

A real turn off is a musty smell in a basement. Dehumidifiers and allowing more fresh air with movement can help take care of moist conditions and should always be considered.

Before spending a lot of money, go to your local hardware store. There are products that can do more than mask a smell, they can eliminate them. Contact me for more info and referrals to professionals who can help you save your money!!

This blog is written and supported by: www.HomelifeAbbotsford.ca OR www.HomelifeMission.ca

300 – 3303 Immel St. Abbotsford BC V2X 5Y1

1 – 32540 Logan Ave Mission BC V2V 6G3

O 604 859 3141 or 604 826 2699 F  604 859 5226 or 604 826 2621

Connect with us on Facebook:

www.facebook.com/HomelifeRealEstate

www.linkedin.com/company/3150480

Abbotsford Real Estate | Abbotsford Homes For Sale

Abbotsford real estate for sale, Abbotsford REALTORS®, and Abbotsford MLS® Listings. Access Abbotsford real estate listings, Abbotsford REALTORS®, new homes and Abbotsford foreclosures. We also have information on Abbotsford home selling, home buying and mortgages, movers and other realty services in Abbotsford and area.

Mission Real Estate | Mission Homes For Sale

Mission real estate for sale, Mission REALTORS®, and Mission MLS® Listings. Access Mission real estate listings, Mission REALTORS®, new homes and Mission foreclosures. We also have information on Mission home selling, home buying and mortgages, movers and other realty services in Mission and area.

Advantages for the Experienced Agent with HomeLife Glenayre Realty Co. Ltd.:

  • Experienced Management
  • Household name in local market
  • Number one office in technology services
  • Office of the future
  • First paperless in Canada
  • Latest web services including social networking
  • Cheers

Myths & Realities about Real Estate Con’t

 

cloud of words or tags related to myth and reality on a  digitalTrue or false

Last month we introduced four myths and realities about local Real Estate – here are 5 more! The previous list that was issued can be found at:

https://homeliferealty.wordpress.com/2015/02/23/myth-or-truth-in-selling-houses/

  1. Not having features that are now available in new homes like master suite walk-in closets, ensuites, etc. Generally this is because the home is older and price will often reflect this. Although you can’t expect to get the equal price of a new home, many older homes have character and established lots. Renovations can help make any home feel newer and sell quicker.
  2. First appearances will stop people from going inside. This is usually not true if Buyers are viewing homes with a Realtor and an appointment has been made. Exteriors are very important – a little landscaping, shutters, paint etc. can make a difference. If the exterior is really bad, it will deter potential buyers from inquiring about the property if driving by. Spend some thought and time: get rid of old cars, cut the grass, make the home sellable.
  3. Swimming pools are always tough to sell. This is not always true. Some Buyers specifically want pools and there is a limited market and competition. The cost of installing a new pool is very expensive and often buying an existing pool is good value.
  4. Green features mean a higher sale price. While Buyers may not want to pay for it (heating & electricity Leed certification), often energy efficiency makes the home more sellable but this does not automatically mean a higher price.
  5. Over decorating can slow sales. While Christmas and Halloween decorations are fun, they should be removed as soon as it is practical if you are selling your home. If your home is heavily decorated with personal pictures, knickknacks, and too much furniture, remove as much as possible. Too much personal clutter can impact showings.

This blog is written and supported by: www.HomelifeAbbotsford.ca OR www.HomelifeMission.ca

300 – 3303 Immel St. Abbotsford BC V2X 5Y1

1 – 32540 Logan Ave Mission BC V2V 6G3

O 604 859 3141 or 604 826 2699 F  604 859 5226 or 604 826 2621

Connect with us on Facebook:

www.facebook.com/HomelifeRealEstate

www.linkedin.com/company/3150480

Abbotsford Real Estate | Abbotsford Homes For Sale

Abbotsford real estate for sale, Abbotsford REALTORS®, and Abbotsford MLS® Listings. Access Abbotsford real estate listings, Abbotsford REALTORS®, new homes and Abbotsford foreclosures. We also have information on Abbotsford home selling, home buying and mortgages, movers and other realty services in Abbotsford and area.

Mission Real Estate | Mission Homes For Sale

Mission real estate for sale, Mission REALTORS®, and Mission MLS® Listings. Access Mission real estate listings, Mission REALTORS®, new homes and Mission foreclosures. We also have information on Mission home selling, home buying and mortgages, movers and other realty services in Mission and area.

Advantages for the Experienced Agent with HomeLife Glenayre Realty Co. Ltd.:

  • Experienced Management
  • Household name in local market
  • Number one office in technology services
  • Office of the future
  • First paperless in Canada
  • Latest web services including social networking

What is local Real Estate going to do?

real estate and family home concept - male and female hands holdIt’s that time again, so buckle up and hang on, we are about to peer into the future and try to tell you what Real Estate in Abbotsford | Mission is going to do. Our crystal ball uses the chart below to predict what might happen. Homelife Glenayre Realty have put together this chart that shows the amount of sales versus the amount of listings and we publish every month if you wish to subscribe.

The percentage of monthly sales against the total inventory of listings on the market is the best way we know of to track trends.

It is important to note that one month’s percentage does not indicate price changes, however, if over many months a trend develops, prices may change.

  • Above 23% indicates a Seller’s market.
  • Below 23% indicates a stable or Buyer’s market.

I have displayed it in red. Traditionally, December, January and February are the lowest percentages.

MTA Master Copy1

MTA Master Copy

I print this chart the first week of every month – it really is the best guide to the market.

Call me if you would like an update.

This blog is written and supported by: www.HomelifeAbbotsford.ca OR www.HomelifeMission.ca

300 – 3303 Immel St. Abbotsford BC V2X 5Y1

1 – 32540 Logan Ave Mission BC V2V 6G3

O 604 859 3141 or 604 826 2699 F  604 859 5226 or 604 826 2621

Connect with us on Facebook:

www.facebook.com/HomelifeRealEstate

www.linkedin.com/company/3150480

Abbotsford Real Estate | Abbotsford Homes For Sale

Abbotsford real estate for sale, Abbotsford REALTORS®, and Abbotsford MLS® Listings. Access Abbotsford real estate listings, Abbotsford REALTORS®, new homes and Abbotsford foreclosures. We also have information on Abbotsford home selling, home buying and mortgages, movers and other realty services in Abbotsford and area.

Mission Real Estate | Mission Homes For Sale

Mission real estate for sale, Mission REALTORS®, and Mission MLS® Listings. Access Mission real estate listings, Mission REALTORS®, new homes and Mission foreclosures. We also have information on Mission home selling, home buying and mortgages, movers and other realty services in Mission and area.

Advantages for the Experienced Agent with HomeLife Glenayre Realty Co. Ltd.:

  • Experienced Management
  • Household name in local market
  • Number one office in technology services
  • Office of the future
  • First paperless in Canada
  • Latest web services including social networking

MYTH OR TRUTH IN SELLING HOUSES

cloud of words or tags related to myth and reality on a  digital

4 quick points about home selling myths for Abbotsford and Mission home owners. Give it a quick read and please don’t hesitate to shoot me back a quick comment if you think we missed any. If you have any friends or family looking to buy or sell real estate this Spring, please let them know I would love to help! 🙂

  1. Bold paint colours can hurt home sales. I suppose it depends on how bold and how it is used. In my experience, I have looked at houses where bold colours really works. If you like the home, I think knowing roughly what it would cost to paint rooms will come in handy. Also, different neutral rugs and accessories can calm an area. In the scheme of things, if you like the home and area, painting is an inexpensive alternative and gives a nice new air to a home.
  2. Don’t buy the biggest home on the block. This has truth to it if the home is worth substantially more than others. For example, if it is a million dollar home in an area of $400,000 homes, then it may limit Buyers in the future. If it is a $500,000 home among $400,000 homes, the impact is much less. Every situation is different.
  3. Avoid first floor condos because of safety concerns. I think this is false. Living on the ground floor avoids elevators and usually gives more access to yard, larger patios, etc. If security is a concern, this can be addressed. Obviously views may be better the higher you go, but access to outside and the lobby may overcome this. It is all about personal taste.
  4. If you remodel your homes, you will get all your money back when you sell. This is not usually true. Depending on the remodel, you will normally recoup less than 80% of your investment. If a home is in very bad condition, you may have to upgrade some things as some Buyers will not be able to see past the problem areas. In most homes, a new coat of paint, cleaning and decluttering, and landscape touch-ups can provide the best return. Remember first appearances count and a newly painted front door and neat landscaping are simple.

Next month I will provide you 5 more myths and truths.

This blog is written and supported by: www.HomelifeAbbotsford.ca OR www.HomelifeMission.ca

300 – 3303 Immel St. Abbotsford BC V2X 5Y1

1 – 32540 Logan Ave Mission BC V2V 6G3

O 604 859 3141 or 604 826 2699 F  604 859 5226 or 604 826 2621

Connect with us on Facebook:

www.facebook.com/HomelifeRealEstate

www.linkedin.com/company/3150480

Abbotsford Real Estate | Abbotsford Homes For Sale

Abbotsford real estate for sale, Abbotsford REALTORS®, and Abbotsford MLS® Listings. Access Abbotsford real estate listings, Abbotsford REALTORS®, new homes and Abbotsford foreclosures. We also have information on Abbotsford home selling, home buying and mortgages, movers and other realty services in Abbotsford and area.

Mission Real Estate | Mission Homes For Sale

Mission real estate for sale, Mission REALTORS®, and Mission MLS® Listings. Access Mission real estate listings, Mission REALTORS®, new homes and Mission foreclosures. We also have information on Mission home selling, home buying and mortgages, movers and other realty services in Mission and area.

Advantages for the Experienced Agent with HomeLife Glenayre Realty Co. Ltd.:

  • Experienced Management
  • Household name in local market
  • Number one office in technology services
  • Office of the future
  • First paperless in Canada
  • Latest web services including social networking

LEGALLY SPEAKING

Bad Driver On Parking

I found out last week that I still have great parking skills. In both downtown Abbotsford & Downtown Mission, while doing errands and going for lunch, I performed perfect parallel parks. This was an area on my drivers test that I aced when I was 16 years old! With that in mind, our topic for legally speaking this month is ‘parking’ so let us dive right into it.

This issue will be more prevalent in Vancouver where parking is a bigger issue, yet even in the Valley there are some buildings where the developer leased the parking spots and storage units to the Buyers of condominiums. In a recent legal case, the owner of a condo sold their unit but thought they did not include their parking lease; in the sale, these two spots were valued at approximately $60,000.

The courts ruled that the actual lease for the parking places stated only owners of the strata units could assign the parking spots and when the owner sold their condo, they lost their rights. The courts ruled the Seller’s leasehold interest was over and decided it was automatically assigned to the new Buyer, one unhappy Seller.

The lesson here is if you are buying a strata unit, confirm and identify the rights to the parking spaces and storage lockers and review the strata plan. To avoid problems I recommend you get at least 24 months of strata minutes, the rules and regulations, strata plans, a Form B, and the parking and storage rights and rules plus any other available information.

This blog is written and supported by Dave B @: www.HomelifeAbbotsford.ca OR www.HomelifeMission.ca

300 – 3303 Immel St. Abbotsford BC V2X 5Y1

1 – 32540 Logan Ave Mission BC V2V 6G3

O 604 859 3141 or 604 826 2699 F  604 859 5226 or 604 826 2621

Connect with us on Facebook:

www.facebook.com/HomelifeRealEstate

www.linkedin.com/company/3150480

Abbotsford Real Estate | Abbotsford Homes For Sale

Abbotsford real estate for sale, Abbotsford REALTORS®, and Abbotsford MLS® Listings. Access Abbotsford real estate listings, Abbotsford REALTORS®, new homes and Abbotsford foreclosures. We also have information on Abbotsford home selling, home buying and mortgages, movers and other realty services in Abbotsford and area.

Mission Real Estate | Mission Homes For Sale

Mission real estate for sale, Mission REALTORS®, and Mission MLS® Listings. Access Mission real estate listings, Mission REALTORS®, new homes and Mission foreclosures. We also have information on Mission home selling, home buying and mortgages, movers and other realty services in Mission and area.

Advantages for the Experienced Agent with HomeLife Glenayre Realty Co. Ltd.:

  • Experienced Management
  • Household name in local market
  • Number one office in technology services
  • Office of the future
  • First paperless in Canada
  • Latest web services including social networking