White Rock Real Estate

REALTORS® see signs of spring in Fraser Valley housing market

2009-03-07T09:29:00.000-08:00

February sales on Fraser Valley’s Multiple Listing Service® (MLS®) experienced a typical ‘early spring’ surge, increasing by 75 per cent in one month from 389 sales in January to 682 last month. However, by historical standards, they continued to reflect sales levels last seen in the mid-1980s, according to the Fraser Valley Real Estate Board.

Sales showed a 48 per cent decrease compared to the 1,308 sales processed in February 2008. The Board also received fewer new listings last month compared to the same month last year – 2,369 compared to the 2,808 new listings received in February 2008 – however, the total number of active listings at 9,594 was still 11 per cent higher than in January and almost 30 per cent higher than the 7,415 active listings available in February 2008.

Paul Penner, President of the Fraser Valley Real Estate Board explains, “High inventory and low demand over the last few months have created the best buying opportunity since 2006, which buyers started capitalizing on in February.” Penner feels that though consumers are still cautious about the global economic situation, based on February’s real estate market, he is guardedly optimistic. “For the first time since last September, Fraser Valley REALTORS® had higher traffic at open houses, more multiple-offer situations and an increase in home sales.

“Because of lower prices and mortgage rates, consumers are gaining confidence.”

Residential benchmark prices, the value of a ‘typical’ Fraser Valley detached home as determined by the MLSLink® Housing Price Index (HPI), decreased 10.4 per cent compared to February 2008, however, increased from the previous month for the first time in nine months. The benchmark price was $456,683 in February 2009 compared to $509,958 last year.

The HPI benchmark price of Fraser Valley townhouses decreased by 10.5 per cent in one year, going from $330,444 in February 2008 to $295,731 in February 2009, while the benchmark price of apartments decreased by 10 per cent going from $253,351 in February of last year to $228,091 in February 2009.

South Surrey House For Sale

2009-03-05T09:22:00.000-08:00

South Surrey House For Sale: $549,000
Sullivan Station choice residential neighborhood, 4 bedroom custom built home with 6' high crawl space. Kitchen counter, backsplash updated with
granite. Hardwood floors, recreation room on main has wet bar. Private fenced back yard with inground pool, koi pond, hot tub, gazebo with wet bar. Backs onto agricultural land.

BC Home Sales Start with a Whimper in 2009

2009-02-16T09:13:00.000-08:00

British Columbia Real Estate Association (BCREA) reports residential sales dollar volume on the Multiple Listing Service® (MLS®) in BC declined 61 per cent to $873 million in January, compared to the same month last year. Residential unit sales fell 57 per cent to 2,115 units during the same period. The average MLS® residential price in the province was $412,934 in January, down 9 per cent from January 2008.

“Home sales were sluggish in January, reflecting an overall malaise in consumer confidence and a weakening provincial economy,” said Cameron Muir, BCREA Chief Economist.

“Reports of an increasing number of consumers shopping for a home have yet to materialize in the sales statistics,” added Muir. “The large selection of homes for sale in January likely reduced any sense of urgency for potential homebuyers to commit to a purchase.” Improving home affordability resulting from lower mortgage rates and home prices is expected to elevate sales activity in the province this spring.

BC Home Sales Decline by One-Third in 2008

2009-01-12T09:18:00.000-08:00

British Columbia Real Estate Association (BCREA) reports residential sales dollar volume on the Multiple Listing Service® (MLS®) in BC declined 31 per cent to $31.3 billion in 2008, compared to 2007. Residential unit sales declined 33 per cent to 68,923 units last year, the lowest level since 2000, when 54,179 transactions were recorded. The average MLS® residential price in 2008 was $454,599, up 3.5 per cent from 2007.

“The housing market came in like a lion and went out like a lamb in 2008,” said Cameron Muir, BCREA Chief Economist. “Home prices reached a record high in March, but edged lower during the balance of the year.” The average residential sales price hit $483,291 in March and ended the year at $429,210, an 11 per cent decline in nine months.

“The global financial crisis, a sharp correction in the equity markets and a recessionary environment in Canada has wreaked havoc on consumer confidence,” added Muir. “While it’s difficult to predict when consumer confidence will strengthen, home affordability is quietly improving as lower prices and mortgage interest rates increase the buying power of BC households.”

South Surrey House For Sale

2008-07-06T16:40:00.000-07:00

South Surrey House For Sale: $1,149,000
Probably the largest lot in the Morgan Creek area, 13,886 south facing. Great open concept floor plan. Hardwood floors, granite counters with eating bar, stainless appliances, upscale finishing. Every bedroom has its own en-suite. Master has separate water closet in en-suites. Basement boarded out ready for finishing. Click Here for Virtual Tour. Click Here for More Information. Email: Gale Woodward

Buyers Market

2008-07-06T16:36:00.000-07:00

(Surrey, BC) –Recent sales data from the Fraser Valley Real Estate Board’s Multiple Listing Service (MLS®) indicates that Fraser Valley’s real estate market is changing to favour the buyer. Sales continue to decrease and benchmark prices for residential homes in most Fraser Valley communities are moderating, in some areas trending down slightly since March.
The Board posted 1,418 sales in June reflecting a decrease of 31 per cent compared to the 2.053 sales processed on the MLS® during June of last year. The Board received 3,236 new listings in June, taking the number of active listings to 11,295, an increase of 47 per cent compared to the 7,676 listings available during June 2007.

“Real estate is cyclical and the numbers show that we’ve entered a buyer’s cycle,” explains Kelvin Neufeld, president of the Board. “Where appropriate, REALTORS® are recommending their sellers sharpen their prices, in particular for higher-end properties. On the other hand, there’s still a steady appetite for mid-range properties priced competitively. Our average days-to-sell in June for single family homes was only six days more than last year indicating that when buyers see an opportunity, they act.”

The average price of a single family detached home in the Fraser Valley increased by 6.1 per cent, going from $529,678 in June 2007 to $561,771 last month. Townhomes went for an average $337,054 in June, an increase of 4.8 per cent compared to the same month last year when they averaged $321,614 and the average price of an apartment in June was $237,155, an increase of 7.8 per cent compared to $219,935 last year.

While average prices year over year continue to rise, the benchmark price or the price of a “typical” home across a number of Fraser Valley communities reveals price fluctuations for the last three months ranging from a .3 per cent decrease for single family detached, a .4 per cent increase for apartments, to a 1.6 per cent increase for townhomes.

Neufeld says, “We’re experiencing a soft landing coming off the strongest and longest real estate cycle in our history. For those who don’t remember selling a home in a normal competitive market, it’s essential to work with a real estate professional who knows how to establish the right price for your property. Everything matters now: your neighbourhood, your property type, your home’s appearance and thorough marketing.”

Okanagan Lake Cottage For Sale

2008-05-17T10:42:00.000-07:00

Tucked away at the end of quiet, private road one mile off West Side Road in, this idyllic lake front vacation property is located approximately 10 km. south of the of Highway 97 at the north end of Okanagan Lake and about a 20 minute drive to Vernon, BC. Click Here for Intractive Map & Driving Directions. The land is leased at $3,500.00 annually, and the road is open from April 1st to the end of October for summer vacation use.

This Okanagan cottage has two bedrooms with closets, and a two piece bathroom with shower. It has a fully equipped kitchen with propane stove and fridge. The living room has an energy efficient wood burning stove. It is set up to use a gas operated generator for lights. The cottage is rustic but very comfortable.

The enclosed porch runs the full width of the cottage and is screened. There is a crawl space in the attic and a separate storage room. The outhouse has a flush toilet and sink with running water. The cottage has a gravity fed water system and a propane hot water tank. The grounds have boat launch, large grassy area and lots of easy parking. There are flower beds and extra room for tents among the trees.

The area is quiet and part of the lease agreement states that rentals are prohibited. There are very few neighbours, most of whom have owned their cottage for years. They appreciate and respect their privacy and yours, and they enjoy the quiet atmosphere and surroundings.

The asking price is $159,900 fully furnished and it is available immediately. For more information please call Gale Toll Free at 1 877 538 1044 or Emai: galewoodward@shaw.ca

http://www.galewoodward.com/okanagan-lake-cottage-for-sale.htm

South Surrey Townhouse For Sale

2008-04-12T10:31:00.000-07:00

South Surrey TownHouse For Sale: $499,900
Possibly the best location in Ponderosa Station. Low density well built complex. Ideally situated close to shopping, recreation & freeway. End unit w/ private yard, 9' ceilings, in floor radiant heating, lots of pull out drawers & storage. Easy to show. Click Here for Virtual Tour. Click Here for More Information. Email: Gale Woodward

Spring Bodes Well For Fraser Valley Buyers

2008-04-12T10:11:00.000-07:00

April 2, 2008
(Surrey, BC) – In March, selection reached a 10-year high on the Fraser Valley Real Estate Board’s Multiple Listing Service (MLS®), with the number of active listings reaching 9,361, an increase of 27 per cent compared to the 7,351 listings available during the same month last year. The previous March that offered as much or greater inventory was in 1998, when Fraser Valley had 10,148 active listings.

The total number of sales processed through Fraser Valley’s MLS® in March was 1,315, a decrease of 25 per cent compared to March 2007 when 1,743 sales were processed.

The number of new listings in March also decreased slightly with the Board receiving 3,277 compared to 3,369 new listings received during the same month last year, a decrease of 3 per cent.

In March, average Fraser Valley home prices continued to increase in the strong single digits for detached and townhomes and remained in the double digits for condominiums.

Kelvin Neufeld, president of the Fraser Valley Real Estate Board explains, “With a significant increase in product and properties taking longer to sell, we have a more competitive market for sellers in the Fraser Valley right now, yet enough demand to keep prices trending upwards.

“Our advice is that to sell your home this spring, work with your REALTOR® to ensure it’s priced correctly because buyers are taking a careful look at the broader range of homes available on the MLS®.”

In March, it took almost four days longer on average to sell a Fraser Valley detached home, 50.7 days compared to the 46.9 days during March of last year. Apartments took almost eight days longer to sell with the average days to sell in March at 47.3 compared to 39.4 during the same month last year and townhomes saw the smallest increase in average days to sell, increasing 1.8 days, going from 33.6 in March 2007 to 35.4 days last month.

The price of a single-family detached home in March averaged $550,259, an 8.1 per cent increase in one year. The average price in March 2007 was $509,197. The average price of a Fraser Valley townhouse in March was $346,949, an increase of 8.6 per cent compared to last year’s average price of $319,592. Average apartment prices in the Fraser Valley increased by 13.6 per cent compared to last year. In March 2007, they averaged $203,874 compared to $231,669 last month.

Ladner Townhouse For Sale

2008-03-27T10:15:00.000-07:00

Ladner Townhouse For Sale: SOLD
Polygon built Chesapeake Landing. 'The Sandpiper' end unit, with its larger fenced south facing exposure backs on to nature trail and canal make this one of the most desirable locations in the complex. Main floor master bedroom & ensuite, floor plan functional and airy with vaulted ceilings and large windows. Walking distance to golf, marina and Ladner village. Amenities include outstanding spa with pool, clubhouse, library and grand sized party room. Pet friendly. Click Here for Virtual Tour . Email: Gale Woodward

Fraser Valley Home Prices

2008-03-27T10:05:00.000-07:00

FRASER VALLEY HOME PRICES REMAIN STRONG IN FEBRUARY
March 4, 2008 (Surrey, BC)

With greater choice available, Fraser Valley home buyers continued to snap up properties in February, paying on average seven per cent more for a single family home compared to the same month last year.

The Fraser Valley Real Estate Board recorded 1,308 sales on the Multiple Listing Service® (MLS®) in February, compared with 1,413 during February of last year, a decrease of seven per cent.

The MLS® received 2,808 new listings in February, which added up to 8,185 active listings for the month, an increase of 30 per cent compared to the 6,304 active listings that were available in February 2007.

“There is tremendous interest in Fraser Valley real estate,” confirms President Kelvin Neufeld. “We have buyers from out of town coming for work, from Greater Vancouver looking to get more bang for their buck, first-time buyers looking to enter the market with a condo or townhouse, and long-time Fraser Valley residents asking us to help them downsize or upsize.

“All this activity is keeping prices competitive. It’s also the reason why Fraser Valley REALTORS® anticipate another busy spring in 2008.”

The average price of a single-family detached house in the Fraser Valley in February was $544,495, an increase of 7.3 per cent compared to the same month last year. In February 2007, the average price was $507,439. Similarly, the average apartment price went up 7.4 per cent, from February 2007’s average of $208,885, to $224,430 in 2008.

The average price of townhouses increased by 11 per cent in one year, selling for an average of $346,853 in February 2008, compared to an average of $312,421 during the same month last year.

Email: Gale Woodward for your White Rock Real Estate needs.

South Surrey House For Sale with Pool

2008-02-17T20:15:00.000-08:00

South Surrey House For Sale: $714,900
Sullivan Station... Choice ... at just $714,900. Residential Neighborhood. 4 bdrm custom built home with 6' high crawl. Kitchen counter & island updated with granite & ceramic backsplash. Hardwood floors & crown moldings. Lots of room for RV. Has pool, spa, backs onto agricultural land. Nice view. Click Here for More Information. Email: Gale Woodward

White Rock Real Estate Investments

2008-02-17T19:52:00.000-08:00

Real estate investments are often termed low risk investments that can potentially yield good returns. A lot of people think that real estate investing is an easy business where you don't really need to do anything. However, the truth is that real estate investing does need you to put in some effort (if you really want to make profits). The most important thing is to be able to uncover the real estate for sale that will yield the highest profits. So how do you go about looking for real estate for sale?

Generally, a lot of people start looking for 'real estate for sale' through the internet. And why not, the internet is after all the hub of all information. Please visit my White Rock Real Estate website for White Rock Houses For Sale, White Rock Condos For Sale, South Surrey Houses For Sale, South Surrey Condos for Sale and Featured Listings throughout the lower mainland.

You could also specify your requirements in search criteria on the real estate sites in order to get very specific results on real estate for sale. You can even view images and video of some of the properties thus reducing the need for personal visits for viewing. Please see Virtual Tours for all my listings at http://www.galewoodward.com

However, not everyone is tech-savvy and there are a lot of people who still take the approach of putting up an ad in the local newspaper. In fact, there are some newspapers that are dedicated to just that i.e. real estate for sale. You could even go ahead and put up a 'wanted' ad in these newspapers. Sometimes, looking for real estate for sale in old newspapers (like 1-2 months old) can help you get a good deal (in case the property owner has not been able to sell the property and has become a bit more 'motivated' to sell it).

MLS, the multiple listing service is one the best ways to look for real estate for sale. These are published by the real estate boards. If you can lay your hands on a MLS book as soon as it is out, you can expect to get really good deals. The key is to act fast.

Open houses are another good way of getting the best out of your time. You can see dozens of 'real estate for sale' properties in a very short period of time. And you never know when you might come across a property that is real gold.

Investor groups are yet another rich source of real estate for sale information. Of course, how can we forget the real estate brokers? Real estate brokers are one the most popular (and sometimes most effective) information resource for real estate for sale. Not only do they provide information about 'real estate for sale' but also assist in getting the deal finalized and closed. Besides that, you can also get very good deals through public auctions, bank foreclosures, FHA and VA foreclosures and distress sales.

If you're looking to invest in White Rock Real Estate, South Surrey Real Estate or real estate properties in the Greater Vancouver area, please contact me and I will be happy assist you. Email: Gale Woodward to find your ideal White Rock Investment property.

South Surrey House For Sale with Pool

2008-02-09T10:50:00.000-08:00

South Surrey House For Sale: Sullivan Station... Choice ... Residential Neighborhood. 4 bdrm custom built home with 6' high crawl. Kitchen counter & island updated with granite & ceramic backsplash. Hardwood floors & crown moldings. Lots of room for RV. Has pool, spa,backs onto agricultural land. Nice view. Click Here for More Information. Email: Gale Woodward

White Rock Condo For Sale

2008-01-21T21:11:00.000-08:00

Bay Pointe Condominium. A five minute walk to White Rock Beach. Tastefully updated this bright home features an open, spacious feeling flex plan layout with nine foot ceilings, eat-in kitchen, 300 sq.ft. garden patio and storage. Click Here for Virtual Tour. Email: Gale Woodward

BC Real Estate Market

2008-01-21T19:02:00.000-08:00

Vancouver, BC – January 11, 2008. British Columbia Real Estate Association (BCREA) reports residential sales volume on the Multiple Listing Service® (MLS®) in BC climbed 19.5 per cent to $45.1 billion in 2007, the highest level ever recorded. Residential unit sales increased 6.4 per cent to 102,811 units in 2007, only the second time BC home sales have exceeded the 100,000 unit mark (a total of 106,310 homes traded hands in 2005). The average MLS® residential price in theprovince reached a record $439,121 in 2007, up 12.3 % from 2006.

“Strong consumer demand buoyed by employment growth, rising wages and migration was a significant factor in BC’s housing markets last year,” said Cameron Muir, BCREA Chief Economist. “In the province’s major urban centres, sales activity reflected increasing demand for condominium apartments and townhouses. The largest gains in home prices occurred in the Kamloops, Okanagan and Kootenay markets where a legion of recreation, retiree and investment buyers put pressure on existing home inventories.”

“BC housing markets will experience less frenetic activity in 2008,” noted Muir. “Eroding affordability, rising new home completions adding to inventories and weaker economic growth are expected to provide a moderating influence this year.” MLS® residential sales volume in December increased 24.2 per cent to $2.19 billion compared to the same period last year. Residential unit sales climbed 8.8 per cent to 4,791 units over the same period. The average residential sales price rose 14.2 per cent to $457,825 in December compared to December 2006.

Dreyer Group Mortgages Inc

2008-01-15T21:57:00.000-08:00

Trusting someone to find you the best mortgage at the best rate is a daunting task. With so much at stake, possibly thousands of dollars, it's important to have trusted advisors that have access to the widest range of mortgages on the market - some only available through the broker network.

We have chosen to partner with Dreyer Group Mortgages Inc. (a member of the VERICO brokers network) to ensure our clients get the best mortgage products, at the most competitive rates. We encourage you to take advantage of Dreyer Group's tools and services.

Powerful Canadian calculators to find out how much you can qualify for.
With hundreds of mortgage products on the market and growing, working with a team of experts that understand the nuances of these innovative products will help save you untold time and money.

Dreyer Group Brokers have strong relationships with the lenders. They will negotiate on your behalf, locking in the best rate, terms and mortgage products.

As Accredited Mortgage Professionals working with real estate partners for over 15 years, strong relationships built on trust are the cornerstone of the Dreyer Group Mortgage business relationship.

Best of all, this service is free of charge to the majority of our clients.
Find out more about Dreyer Group Mortgages Inc. here.
Call the Mortgage Broker Hotline 604-649-5591

Why Work With a Realtor®?

2008-01-15T21:29:00.000-08:00

It's not likely that you can afford to gamble with the largest single investment you may ever make in your lifetime, namely the purchase of your home. But you may be surprised to learn that some people are willing to take that chance.

Selling a home without the help of a REALTOR® is not as easy as it may appear to the uninitiated. Ask yourself the following questions. Do I know the home's true market value or replacement value? Am I aware of the legal ins and outs?
Can I arrange suitable financing? Can I qualify a potential purchaser? Can I negotiate a successful close? Can I write an enforceable contract?

Since today's complex market demands expertise and resources not available to the average consumer, there are many compelling reasons why you should enlist the professional services of a REALTOR®. Consider the following:

Chances are your REALTOR® can get you a higher price for your property than if you tried to sell it yourself.

Statistics prove you will sell your home a lot faster when you use the services of a REALTOR®. When you work with a member of the Fraser Valley Real Estate Board, you are really working with thousands of REALTORS® who can advise all of their prospective customers and clients about your home through the Board's Multiple Listing Service®.

Your REALTOR® can open doors to thousands of properties in the Fraser Valley alone through MLS® and provide you with an up-to-the-minute computerized list of homes specifically suited to your needs.

Your REALTOR® knows your neighbourhood and assesses market conditions and property values on a daily basis.

Your REALTOR® has been educated on the complex laws and regulations in real estate and is trained to put together a legally binding contract.

Negotiating price is an art. Your REALTOR® will negotiate objectively in order to get the best possible price for your home.

REALTORS® are on call and available seven days a week to show your home.

REALTORS® have the skills and resources to market your home effectively.

Your REALTOR® is aware of the many options available for financing the sale, and has the latest information on mortgages.

If you are serious about selling your home, then you should consider using the experts.

REALTORS® are real estate marketing specialists. Let them deliver the professional service you deserve.

Email: Gale Woodward to view White Rock Real Estate