Niche: Townhouse 3039 156th ST, South Surrey / White Rock, BC

Stylish and discerning, you want a home that reflects your good taste. The residences at Niche (3039 156th ST, South Surrey / White Rock) feature quality finishes and stylish touches that speak of refinement, sophistication and class. Come home to spacious, innovative floorplans, individualized by your choice of two designer colour schemes. Wake up to breakfast in a kitchen with elegant stone countertops, classic shaker-style cabinets and an extra large single bowl undermount sink with polished hardware. Your professional series stainless steel appliance package, including a gas range, offers the perfect equipment for crafting gourmet meals, while a ceramic and glass backsplash adds a finishing touch of gleaming style. Inside your home, enjoy nine-foot ceilings on the main living level, wood laminate flooring and oversize windows with white wood designer blinds. Large, private patios and decks offer an ideal venue for an intimate outdoor dining experience. All homes have enclosed yards that extend your living area into the great outdoors. After work, relax in your ensuite’s luxurious soaker tub or take an energizing shower with a stainless rain showerhead. With custom vanities, side-by-side undermount sinks and stone countertops, your bathroom is a spa-like retreat where you can indulge in guilt-free pampering. Niche has a wide variety of thoughtful gathering places where a sense of community is easily established. There’s a residents’ lounge, where a full kitchen, barbecue and picnic areas are the perfect location for an al fresco meal with friends. Home at Niche means natural living in a community surrounded by a secluded park like setting. Hone your bird watching skills at the observation deck overlooking the creek or take a quiet stroll along one of the many walking trails nearby. TO FIND OUT ABOUT NEW LISTINGS AT NICHE BEFORE THEY HIT THE PUBLIC MLS, CONTACT: LOCAL:  604-764-1380 EMAIL:  TREVOR@THETOWNHOUSEGUY.CA

Wills Creek: Townhouse complex at 3109 161ST & 3122 160th ST in South Surrey / White Rock

Located in the heart of Morgan Creek (3109 161ST & 3122 160th ST, South Surrey / White Rock) these well designed townhomes include every detail. These homes boast Geothermal heating & cooling, Fisher Paykel stainless appliances, gas fireplaces, granite countertops, heated ensuite tiles, and interior design palettes from Ledingham Design Consultants. The 2,000 ft Creek Club features a state of the art fitness centre plus a pool and hot tub. . TO FIND OUT ABOUT NEW LISTINGS AT WILLS CREEK BEFORE THEY HIT THE PUBLIC MLS, CONTACT: LOCAL:  604-764-1380 EMAIL:  TREVOR@THETOWNHOUSEGUY.CA  

December, 2012: White Rock / South Surrey Real Estate Market Update

FRASER VALLEY REAL ESTATE SALES AT LOWER LEVELS IN 2012 (Surrey, BC) – Fraser Valley’s real estate market in 2012 will be remembered as the year buyers and sellers took a breather reflecting quieter sales, an average number of new listings and prices overall remaining flat. The president of Fraser Valley’s Real Estate Board, Scott Olson, says, “The last half of 2012 was like a Mexican stand-off. Buyers kept hoping for greater price drops while sellers who didn’t have to sell just took their home off the market rather than lower their price. “With the economy so stable, we’re not in a situation where people have to sell their home, so they’re not. It’s a very different market than in 2008 when listings were at an all-time high and sales were at historical lows.” The Board’s Multiple Listing Service® processed 13,878 sales in 2012 compared to 15,529 the previous year, a decrease of 11 per cent, while the number of new listings remained about the same – 31,009 in 2012 compared to 31,592 in 2011. Over the year, the number of active listings for buyers to choose from dropped by 3 per cent going from 7,399 properties in December 2011 to 7,187 in December 2012. Although 2012 ranks the second slowest year for sales in Fraser Valley since 2003, the volume of new listings finished in the middle of the pack. Scott Olson, says, “Inventory levels are down, which is a sign of a healthy market where insufficient demand leads to reduced supply. This is also keeping prices in most areas either flat or down only slightly.” In December, the benchmark price of a detached home in the Fraser Valley was $539,000, an increase of 1.2 per cent compared to $532,700 in December 2011 and a decrease of 1.0 per …

Kaleden: 2729 158th St, South Surrey / White Rock

One of South Surreys finest townhouse complexes built by Polygon set within the appealing  South Surrey/White Rock neighborhood of Morgan Heights,  Steps to all the shops and amenities at Morgan Crossing yet still in a quiet location on the hillside. Roomy two, three, and four bedroom homes have been designed with young families in mind. Excellent clubhouse facilities with gym, yoga area, pool table, lounge area, swimming pool and hot tub. TO FIND OUT ABOUT NEW LISTINGS AT KALEDEN BEFORE THEY HIT THE PUBLIC MLS, CONTACT: LOCAL:  604-764-1380 EMAIL:  TREVOR@THETOWNHOUSEGUY.CA

Highland Park: Townhouse Complex in Morgan Heights, 2501 161A ST, South Surrey / White Rock

Highland Park built by Intracorp. 2501 151A ST, South Surrey / White Rock. Located in the highly desirable area of Morgan Heights featuring quality finishings thru-out including stainless steel appliances, gas range, gas fireplace, granite & marble countertops, engineered hardwood flooring on the main level & porcelain tile. Conveniently located near Grandview Corners and the vibrant community of Morgan Heights. Magnificient clubhouse with outdoor pool, hot tub, hockey rink, lounge area and fitness facility. TO FIND OUT ABOUT NEW LISTINGS AT HIGHLAND PARK BEFORE THEY HIT THE PUBLIC MLS, CONTACT: LOCAL:  604-764-1380 EMAIL:  TREVOR@THETOWNHOUSEGUY.CA

November, 2012: White Rock / South Surrey Real Estate Market Update

HOME SALES DECREASE IN THE FRASER VALLEY; THOSE BUYING LOOKING FOR AFFORDABILITY (Surrey, BC) – Property sales through the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) decreased by 19 per cent in November compared to the same month last year, moving from 1,120 to 905. Sales also decreased 14 per cent month-over-month compared to October 2012. Scott Olson, president of the Board says, “Buyers can’t borrow as much as what they could prior to the mortgage rule changes, so we’re seeing our pool of prospective buyers shrink and we’re seeing a change in the price range they’re looking for. “For three months in a row, we’ve seen a decrease in sales of detached homes $700,000 and up and greater demand for those $400,000 to half a million. Tighter credit conditions are having an impact on the market.” In addition to the drop in sales in November, the number of new listings posted on the MLS® decreased by 11 per cent compared to last year and by 32 per cent compared to October. Olson observes, “This was a significant drop with last month ranking alongside November 2003 as the slowest for new listings in the last decade. “It means that sellers are adjusting to conditions that favour buyers; great selection, houses are on the market longer and prices are lowering. If sellers don’t have to sell, they’re taking their home off the market.” In the last six months, prices for all three residential property types combined have decreased by 1.4 per cent while year over year they’ve increased by 1.3 per cent. For single family detached homes, the benchmark price increased by 2 per cent in one year, going from $533,800 in November 2011 to $544,700 last month. For townhouses, the benchmark price in November was $298,900, a decrease …

Glenmore Living: Townhouse Complex in Morgan Heights (2450 161A Street, near Morgan Crossing & Grandview Corner)

Glenmore townhomes, built by Intracorp. 2450 161A St, South Surrey / White Rock. Nicely appointed townhouses featuring laminate flooring on the main level, stainless steel appliances, and stone countertops. Some units have double side by side garages. Located in the Morgan Heights neighborhood just steps to shopping (Morgan Crossing & Grandview Corner), amenities, restaurants and transportation. Residents will enjoy the Clubhouse with outdoor pool & hot tub, games room , indoor floor hockey rink, fitness facility and more. THE ULTIMATE TOWNHOUSE LIFESTYLE IN GRANDVIEW, SURREY!! Residents at Glenmore Townhomes can also enjoy a recreational retreat right at their doorstep in the Morgan Heights Evergreen Club, a 7,500 sqft. amenity centre complete with two furnished guest suites for out of town visitors, outdoor pool, hot tub, furnished barbeque terrace, fully equipped fitness studio and change rooms, Yoga studio, hockey rink, and a state of the art theatre with MASSIVE HD MOVIE SCREEN and surround sound. Just minutes from the top-ranked schools and parks, steps to the Evergreen Club at Morgan Heights; a short drive to the beaches and boutiques of White Rock and convenient access to Morgan Crossing Shopping Centre, Grandview Corner Shopping Centre, and Highway 99 into Vancouver. TO FIND OUT ABOUT NEW LISTINGS AT GLENMORE TOWNHOMES BEFORE THEY HIT THE PUBLIC MLS, CONTACT: LOCAL:  604-764-1380 EMAIL:  TREVOR@THETOWNHOUSEGUY.CA

Nuvo: Townhouse Complex near Morgan Creek(15454 32AV & 15405 31ST, South Surrey / White Rock)

The Nuvo at Morgan Creek (15454 32AV & 15405 31ST, South Surrey) features a great location that is moments away from the beautiful White Rock Beach and Promenade. Surrounded by numerous hiking and biking trails, boutique shops, lush parks and Morgan Heights shopping center (Morgan Crossing & Grandview Corner), everything is already in place for your outgoing lifestyle. And even though so much is close by the Nuvo at Morgan Creek community, Highway 99 and 10, making it very short drive to downtown Vancouver or to Seattle and even closer to big box retailers, large malls, eclectic boutique shopping, amenities and local services. TO FIND OUT ABOUT NEW LISTINGS AT NUVO BEFORE THEY HIT THE PUBLIC MLS, CONTACT: LOCAL:  604-764-1380 EMAIL:  TREVOR@THETOWNHOUSEGUY.CA

Brownstones: Trendy Townhouse Complex in South Surrey / White Rock – 15833 26AV

The Brownstones at Morgan Heights (15833 26AV), in South Surrey / White Rock. The Brownstones combines traditional East Coast Brownstone styling with environmentally sustainable construction features to create an affordable housing choice for active adults. Unabashedly sexy, trendy Boston-style walk-ups in Morgan Heights with private rooftop decks and built Green Gold verified. The Brownstones at Morgan Heights in South Surrey are as urban as the ones in New York and epitomize urban living with a West Coast twist. Built by Adera, this collection of 97 townhomes features traditional architecture with classic brick exteriors. Interiors, on the other hand, are contemporary, with luxurious hardwood, stone and imported ceramic tile finishes. Sizes range from 1,250 to 1,700 square feet. Homeowners can relax on city-type roof decks as large as 400 square feet—with a view of the North Shore mountains. Or they can gather at the private 1,300-square-foot Club Metropolitan, which offers fitness, games and meeting rooms. The area is also rich with green space, beaches and trails for walking or biking. The three- and four-bedroom townhouses are two storeys over a ground-level tandem garage. And parking the car is key here. The Brownstones are walking distance from a new “lifestyle village,” part of the City of Surrey’s plan for sustainable urban centres not dependent on cars. The village will offer everything from high-end clothing and gourmet food stores to banking, medical offices and restaurants, along with big box staples a couple of blocks away. “Sustainability is a top priority with Adera,” says company president Norm Couttie. “We have worked with the Built Green Society of Canada to include multifamily developments in the Built Green program.” All Adera projects, including The Brownstones, have Built Green certification. An industry leader in environmentally conscious building, Adera recently won the Built Green B.C. member of the …

Fall & Winter Maintenance Suggestions

Fall is the perfect time to get your home ready for the coming winter, which can be the most gruelling season for your home. During winter months, it’s important to follow routine maintenance procedures, by checking your home carefully for any problems that may arise and taking corrective action as soon as possible.  Fall Check fireplace and chimney; service or clean if needed Clean range hood filter Clean leaves out of eavestroughs Check roofing and flashing for signs of wear or damage Close outside hose connection Close windows, skylights Check weather-stripping around doors and windows Clean and reactivate heat recovery ventilator, if it was turned off Winterize landscaping Test space heating system Close vents to crawl spaces Test your smoke alarms; change the batteries at least once a year Winter Clean or replace furnace filter Check/clean heat recovery ventilator; wash or replace filter Clean humidifier and turn it on if needed Check exhaust fans Ensure that air intake, exhausts and meters are clear of snow Clean range hood filter Check basement floor drain Do safety checks: fire escape routes; fire extinguishers; door and window locks Ensure gas valve is clear of ice and snow Annually Dust or vacuum electric baseboards Vacuum ducts behind warm air and return air grilles Test plumbing shut-off valves to ensure they’re working Test pressure relief valve on hot water tank; drain water from tank Check and, if needed, oil door hinges Lubricate garage door motor, chain, etc Check attic for signs of moisture in summer or fall Check septic system; clean if needed (usually about every three years) Every Two to Five Years Check and repair driveway cracks Check and repair the chimney cap and the caulking between the cap and chimney, re-caulk as necessary Refinish wood surfaces, including window frames and doors  

October, 2012: White Rock / South Surrey Real Estate Market Update

POSITIVE SIGNS FOR FRASER VALLEY HOUSING MARKET (Surrey, BC) – The Fraser Valley Real Estate Board (FVREB) processed 1,053 sales on its Multiple Listing Service® (MLS®) in October, a decrease of 8 per cent compared to the 1,139 sales during October last year however, a 23 per cent increase compared to September. Scott Olson is the president of the board. “This is a marked improvement over September. Our sales increased at the same time as our inventory dropped improving our supply-demand conditions. “Although we remain in a buyer’s market, it moves us in the direction we want to go, which is closer to balance.” The number of new listings posted on the MLS® in October was on par with the same month last year and a decrease of 1 per cent compared to September with the result that the volume of active listings in Fraser Valley at the end of October remained unchanged compared to 2011 and 3 per cent fewer than in September. Benchmark prices for residential property types are showing month-over-month decreases however, depending on the property type, still show positive gains year-over-year. The benchmark price of a detached home in the Fraser Valley in October was $546,900, an increase of 2.5 per cent compared to October 2011, when it was $533,800; and a 0.5 per cent decrease compared to September when it was $549,500. The benchmark price of townhouses decreased 2.2 per cent going from $303,900 in October 2011 to $297,100 last month. The benchmark price of apartments increased year-over-year by 2.9 per cent, going from $198,100 in October of last year to $203,900 in October 2012. “Over the last three months we’ve seen the impact of lower sales and higher selection on prices of typical homes in our region. In most communities and for most property …

6064 195A ST: Cloverdale Family Detached House with Basement Suite

Suite Deal … Hard to find Main Floor-Family Room plan 5 bedroom home, 3 up + 2 bdrm suite down (unauthorized). Bright kitchen up. Perfect family home & neighborhood on Quiet cul-de-sac. Lots of parking. 2012’s best value in Cloverdale … Check This Out!  

15545 36th AV: Rosemary Heights, South Surrey / White Rock

Custom-built Executive family home in Rosemary Heights (South Surrey / White Rock). Fantastic cul-de-sac location. Rare Walk-out Daylight basement. High-quality finishing throughout. Tasteful interior decor. Over height ceilings, Hardwood floors. Granite counters. European style Hardwood kitchen cabinetry. Expansive windows overlook large backyard/garden and Breathtaking Views of North Shore mountains and pristine valley. Sunny Daylight basement boasts self-contained suite-Nanny quarters (unauthorized). Like-new condition. Rare location and excellent value…check this out!

September, 2012: White Rock / South Surrey Real Estate Market Update

BUYERS TAKE ‘WAIT AND SEE’ APPROACH FOR SINGLE FAMILY HOMES; CONDOS HOLDING THEIR OWN (Surrey, BC) – For the second month in a row, property sales on the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) have decreased to historically low levels. In September, a total of 857 sales were processed on the MLS®, a decrease of 26 per cent compared to 1,165 sales in September 2011 and 20 per cent fewer than in August. Scott Olson is the president of the Board. “Our market was very stable up until July and then within two months it changed. “The federal government’s tightening of mortgage rules this past spring may be having an effect. We’ve seen this pattern before when rules have changed and hopefully given the strength of our local economy and stability of interest rates, this slowdown will be short term.” Olson adds that properties offering more affordability remain in demand. “Sales of more expensive homes – single family detached – have decreased disproportionately more than the sales of townhomes and apartments. In fact, apartment sales last month in Surrey, Langley and White Rock were higher or comparable to September of last year keeping prices across the Fraser Valley resilient.” Over the last three months, prices for all three residential property types combined have decreased by 0.4 per cent while year over year they’ve increased by 2.1 per cent. For single family detached homes, the benchmark price increased by 3 per cent in one year, going from $533,400 in September 2011 to $549,500 last month. For townhouses, the benchmark price in September was $300,500, a decrease of 1.7 per cent compared to $305,700 during the same month last year. The benchmark price of apartments in Fraser Valley in September was $207,000, an increase of 4.1 per cent compared …

908 163 ST, White Rock / South Surrey: Custom European Built Detached House in McNally Creek

European Builder… Custom Home. Pristine like New home! Extensive features include a Hardwood plank flooring, professional interior decor, soaring over height ceilings, oversized closets with California Closet organizers, High-End stainless appliances. BONUS… self-contained two-bedroom suite with private walkout basement entry. Large yard boasts ultimate privacy with surrounding fence and greenery. Covered patio… perfect for entertaining and sheltered BBQ. Fantastic quiet location in quiet Kid-Friendly cul-de-sac. Short 15 minute walk to White Rock beach. Five minute access to Highway commute. One owner home has been meticulously finished and cared for…in better than New Condition. Shop and Compare… unbeatable. value!

238-1840 160 ST, South Surrey / White Rock: Fully Renovated in Breakaway Bays

Shop and Compare! Extensively renovated double wide manufactured home boasts virtually everything new including; new Windows, new roof, new furnace, newer appliances, new plumbing, etc. 3 bright spacious bedrooms. Open floorplan living and dining areas. Premium quiet corner lot with guest parking adjacent. $846 Pad rental includes electricity, maintenance, door-to-door mail service, outdoor pool, clubhouse, and more. Close proximity to transit, shopping, White Rock beaches. Perfect retirement or empty nest home. No age restrictions. Bonus … Pets allowed. Check this out … Unbeatable value!  

27-15454 32 AV, White Rock / South Surrey: Nuvo Townhouse Near Morgan Creek

SHOP & COMPARE … Best value in family living in White Rock / South Surrey.  Nuvo (built by Foxridge Homes, Qualico), backing onto permanent GREENBELT unparalleled peace and serenity is featured in this 3 level Duplex style townhome, Sunny South facing backyard. High end finishings boast hardwood floors, European kitchen w. granitecounters, stainless steel appliances, gas stove, 9′ ceilings. BONUS.. Main floor office with adjacent bathroom is legally zoned workspace for home office or could be used as main floor master bedroom. Fully finished basement with 4th bedroom and full bath down plus large rec room and storage, Over 3000 sq.ft. of elegant living. Just minutes from major shops, services and recreation. Check this out!

August, 2012: White Rock / South Surrey Real Estate Market Update

HOME PRICES RESILIENT DESPITE LOWER SALES IN THE FRASER VALLEY (Surrey, BC) – In August, sales on the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) ranked the third lowest for the month in the last decade – after 2008 and 2010. Last month’s 1,073 property sales represent a 20 per cent decrease compared to the 1,341 sales during August of last year and 23 per cent fewer than in July. In 2008, the Board processed 910 sales in August, and in 2010, 997. “It was a slower August, but nowhere near historical lows for our Board so it’s too soon to tell if it’s a sign of a longer-term trend or if buyers and sellers in the Fraser Valley finally enjoyed a bit of summer,” explains Scott Olson, FVREB president. “We do know that our economy currently remains fundamentally strong with stable mortgage and employment rates; and, our region in particular has some of the fastest growing communities in the Lower Mainland.” Olson says, “And we’re seeing evidence of that growth in the sales of more affordable, attached properties in the Fraser Valley. For example in August, apartment sales went up significantly in Central Surrey and Abbotsford and remained on par in North Surrey and Cloverdale compared to last year, suggesting that first-time buyers are continuing to find opportunities.” Similar to sales, the Board saw a decrease in new listings. We received 2,406 in August, a decrease of 8 per cent compared to August 2011 and 18 per cent less than we received in July. This caused the number of active listings to decrease month-over-month, however the 10,366 active listings at month end still remained 3 per cent higher than the 10,074 listings available in August 2011. Across the Fraser Valley, the benchmark price of a single family …

July, 2012: White Rock / South Surrey Real Estate Market Update

SEASONAL DIP IN SALES; HOME PRICES CONTINUE TO HOLD STEADY IN THE FRASER VALLEY (Surrey, BC) – The Fraser Valley Real Estate Board processed 1,393 sales on the Multiple Listing Service® (MLS®) in July, an increase of 5 per cent compared to the 1,322 sales during the same month last year, and 5 per cent fewer than the 1,463 sales in June. At the same time, the board posted 2,938 new listings on the MLS® in July – on par with last year and just slightly more than the number received in June, resulting in July finishing with 10,813 active listings. Scott Olson, president of the Board, says, “I keep trying to find another word other than stable, but it continues to be the best way to describe the Fraser Valley market. While our inventory remains at above-average levels, our sales are sufficiently steady to keep prices consistent. “One factor in our favour and likely influencing our market is greater affordability. We sold 25 per cent more townhomes in July 2012 and 7 per cent more condos compared to the same month last year with over half of the townhomes selling for less than $325,000 and half of the condos for less than $210,000.” The sale of single family detached homes in the Fraser Valley increased by only 1 per cent in July compared to last year. The area that experienced the greatest year-over-year decrease in sales – at 32 per cent – was South Surrey/White Rock where a typical single family detached home was valued at just under $880,000. “We are seeing a reduction in sales of higher-end homes. Last July was one of the busiest on record in that area, so the decrease appears sharper. South Surrey/White Rock would normally see about 100 detached homes sell in July …

16379 9th AV, White Rock / South Surrey: McNally Creek Family Home

McNally Creek … Exceptionally well kept 1 owner 5 bedroom & Rec Room Custom-built family home located on Quiet No-Thru cul-de-sac Street. This bright open plan home has been well maintained by the original owners. Large floor plan with room for media room, recreation, etc. Fenced and privacy hedged yard is perfect for kids & pets. Check This out… this is the best value in the market today!

June, 2012: White Rock / South Surrey Real Estate Market Update

FRASER VALLEY’S HOUSING MARKET ‘STEADY AS SHE GOES’ (Surrey, BC) – For the fifth consecutive month, the ratio of property sales in the Fraser Valley compared to the number of listings on the market has remained stable. In June, it was 14 per cent – the same as it was in February and April of this year. In March and May of 2012, it was 15 per cent. Scott Olson, President of the Fraser Valley Real Estate Board explains, “Our market last month remained consistent. Our sales were down compared to May, however the number of new listings we received dropped as well, which seasonally is typical for June in the Fraser Valley.” Last month, the Board posted 1,463 sales, a decrease of 9 per cent compared to May and 8 per cent fewer than the 1,588 sales processed on the Board’s Multiple Listing Service (MLS®) during June of 2011. At the same time, the Board received 2,898 new listings, a decrease of 12 per cent compared to May and an increase of 5 per cent compared to those received during the same month last year. The decrease in new listings pushed the number of active listings down slightly in June – by 1 per cent – compared to the previous month, however still 9 per cent more than were available in June of 2011. “Although our inventory is trending at historically high levels, sales have remained steady so we’re not seeing significant downward pressure on residential prices overall. “There are individual property types and areas with their unique trends, which consumers can ask their local REALTOR® about directly, however across the Fraser Valley in June, both average and benchmark prices, the price of a ‘typical’ home, for detached properties remained on par month-over-month and showed positive gains year-over-year.” The …

2873 Shuttle, Abbotsford Basement Entry Home

Basement Entry home in West Abbotsford Station – one of Abbotsford’s finest, new family neighborhoods. If space is important, this home is it! – Featuring a bright, open island kitchen w. recently updated kitchen countertops, tile backsplash & range. Bonus … large pantry storage added. New hardwood flooring, 5 large bedrooms, fully finished basement (with legal suite potential), huge crawl space with easy access. Thermostatic attic cooling system for summer comfort. 8×12′ shed in backyard. Like a new home without the HST on a Quiet & Secure NO-THRU street … a perfect home for young family.

1-15454 32 AV, South Surrey / White Rock: FULLY DETACHED 4br Townhome in NUVO

Check this DETACHED Townhouse in NUVO! Located near MORGAN CREEK in South Surrey / White Rock. Deluxe 2 storey with basement, DETACHED end unit with large double SIDE by SIDE garage. Features 1769 sq.ft. of QUALITY finishing which includes GRANITE counters, STAINLESS STEEL appliances, GAS stove & 9′ ceilings. Total of 4 bedroom – MASTER BEDROOM on MAIN with deluxe 5 pce ensuite. Upper flr has 2 bdrms & 4 pce main bath. Lower Level is 1BR and ZONED & designed for HOME BASED business with SEPARATE ENTRY & 3 pce bathroom, wheelchair access to OFFICE area. Close to shops, golf course, hwy 99, schools, & minutes to White Rock. Note: Pets Allowed & Rentals Allowed.

A Breakdown of the new Mortgage Rules

Huge news has come down the pipe about changes to mortgage lending.  Whether  you are looking to buy a home or refinance a current mortgage, these changes will affect you.  The changes will come into effect on July 9th, 2012 so if you have been considering mortgage financing, you may want to get it done sooner than later to ensure you qualify. Here is a list of the major changes and what they will mean.   1.  Amortizations have been shrunk from a maximum of 30 years to 25 years for high ratio mortgages.  This means that if you have less than 20% equity in your home, the maximum amortization you can get is 25 years.  The most major impact this has is that monthly payments will increase dramatically.  For a $300,000 home purchase, the minimum payments go up $150 per  month.  For a $500,000 home purchase, the minimum payments go up $250 per month.  And for a $700,000 purchase, the minimum payment increases by $370 per month.   2.  GDS/TDS changed to 39/ 44. These numbers represent gross or total debt servicing and ensure that a borrower is only using that percent of their income towards mortgage payments and total liabilities.  These numbers have increased from the past so although amortizations have shrunk, the qualifying ratios have increased.   3. Refinances to a maximum of 80% of the home value.  This is a major change.  If you own your home, you cannot refinance your mortgage unless you have 20% equity in your home.  Having said this, if your mortgage is up for renewal, we can still shop the market and transfer to a more competitive lender despite this rule change.  You simply cannot add more funds or consolidate without leaving 20% equity in the home.   4.  No more mortgage insurance for mortgages over $1 million.  This probably does …

New Mortgage Rules FAQ

  On Thursday Finance Minister Jim Flaherty announced changes to the rules for government-backed insured mortgages for residential properties of 1-4 units in this announcement four new measures were announced effective July 9th, 2012 for new government-backed insured mortgages. Below are some of the frequently asked questions from prospective buyers and those homeowners who currently have an insured mortgage. Q. Why is the Government making these changes at this time? A. These measures will support the long-term stability of the Canadian housing and mortgage markets and promote savings through home ownership. They are intended to be timely, targeted and measured. The measures will reinforce the importance of borrowing responsibly and using home ownership as a savings vehicle. The Government actively monitors developments in the housing market and is committed to taking action when necessary. Q. What will be the impacts of the adjustments to the rules for government-backed mortgage insurance on the Canadian economy? A. The adjustments to the rules for government-backed mortgage insurance will provide significant benefits to the Canadian economy by supporting the stability of the housing market and promoting savings through home ownership. The short-term impact on the housing market is expected to be manageable, given that the majority of Canadian families are already taking a prudent approach in managing household debts. In the long term, these measures are expected to have a positive impact on the economy through higher savings and a lower number of financially vulnerable households. Q. When do these measures take effect? A. The new measures will take effect on July 9, 2012. Q. Are further measures expected? A. The Government actively monitors developments in the housing market, consumer debt and the economy, and is committed to taking action when necessary to support the long-term stability of the housing market and protect the investment of …

HARPER GOVERNMENT TAKES FURTHER ACTION TO STRENGTHEN CANADA’S HOUSING MARKET

As part of the Government’s continuous efforts to strengthen Canada’s housing finance system, the Honourable Jim Flaherty, Minister of Finance, today announced further adjustments to the rules for government-backed insured mortgages. “Our Government stands behind the efforts of hard-working Canadian families to save by investing in their homes and their future,” said Minister Flaherty. “The adjustments we are making today will help them realize their goals, build on the previous measures we have introduced to keep the housing market strong, and help to ensure households do not become overextended. As just one example, the reductions to the maximum amortization period since 2008 would save a typical Canadian family with a $350,000 mortgage about $150,000 in borrowing costs over the life of that mortgage.” The Government is announcing four measures for new government-backed insured mortgages with loan-to-value ratios of more than 80 per cent: Reduce the maximum amortization period to 25 years from 30 years. This will reduce the total interest payments Canadian families make on their mortgages, helping them build up equity in their homes more quickly and pay off their mortgages sooner. The maximum amortization period was set at 35 years in 2008 and further reduced to 30 years in 2011. Lower the maximum amount Canadians can borrow when refinancing to 80 per cent from 85 per cent of the value of their homes. This will promote saving through home ownership and encourage homeowners to prudently manage borrowings against their homes. Fix the maximum gross debt service ratio at 39 per cent and the maximum total debt service ratio at 44 per cent. This will better protect Canadian households that may be vulnerable to economic shocks or an increase in interest rates. Limit the availability of government-backed insured mortgages to homes with a purchase price of less than $1 …

May, 2012: White Rock / South Surrey Real Estate Market Update

WARMER WEATHER GENERATES ACTIVITY IN FRASER VALLEY’S HOUSING MARKET (Surrey, BC) – Home sellers and buyers in the Fraser Valley took advantage of the first warm spell of the year triggering an increase in new listings and keeping sales steady last month. The Fraser Valley Real Estate Board posted 1,616 sales in May, an increase of 13 per cent compared to April and on par with the 1,608 sales processed on the Board’s Multiple Listing Service (MLS®) during May 2011. At the same time, the Board received 3,305 new listings, an increase of 5 per cent compared to April and 8 per cent more than were received during the same month last year. The new inventory took the number of active listings in Fraser Valley to 10,826, an increase of 8 per cent compared to the volume available in May 2011. Scott Olson, President of the Board, says “Fraser Valley’s market is at an even keel. Since February, the ratio of sales compared to the number of active listings has stayed at 14 or 15 per cent, which means for every 100 properties available to purchase, 15 sold. “It’s a healthy, competitive market. It gives buyers excellent selection and the time to negotiate, but not too much time. The average number of days to sell a detached home or a townhome is still only a month and a half and for condos a little over two months, which is why we’re seeing benchmark prices in most communities holding steady.” The benchmark price* as determined by the MLS® Home Price Index (MLS®HPI) of a single family detached home in Fraser Valley increased 3.6 per cent in one year. It went from $528,900 in May 2011 to $548,000 last month. In May, the MLS®HPI benchmark price of a Fraser Valley townhouse was …

Top Ten House Staging Tips to Help You get More for your Home When You Sell it.

Thinking about selling your house?  Taking a bit of extra time to consider the following suggestions can definitely help make a better first impression and help your home stand out from the others. Here’s the top 10 home staging suggestions, as recommended by professional home stagers: 1. Keep it clean Look at your home as though you’re seeing it for the first time. Is every room neat, spotlessly clean, dusted and uncluttered? Steam clean carpets and wax floors. Wash walls, heating and A/C vents and light fixtures. Pay special attention to your bathroom and kitchen – make sure that tile grout is mildew free and baseboards scrubbed. Clean the refrigerator and stove as well as the washer and dryer (inside and out). And, don’t forget about the windows! Make sure that all windowpanes, ledges and blinds are spick and span. 2. Lose the clutter Have a yard sale or take old furniture, clothing and knick-knacks to Goodwill. Organize shelves, put away items and purge your home of unnecessary items. Make sure that your kitchen and bathroom counters are free of small appliances and personal effects. 3. De-personalize your home Make your home “anonymous,” so that buyers can envision it as their potential home. Put away any family photos, sports trophies, collectibles, knick-knacks, and souvenirs. This will also help to remove clutter and create more space. 4. Freshen-up Adding a fresh coat of paint and laying new carpet will clean and brighten up your home. Choose neutral colors and make it consistent throughout the home. If you choose to wallpaper, make sure that the paper is properly applied, your color choice is neutral and patterns are kept to a minimum. 5. First impressions count Like a first date or job interview, the first impression of your home is the most important. …