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I have sold a property at 32 15988 32 AVE in Surrey

I have sold a property at 32 15988 32 AVE in Surrey on Nov 20, 2024. See details here

Blu living. Minutes to local parks and beaches, Morgan Creek Golf Course, Grandview Aquatic Center and the Shops at Morgan Crossing. Schools incl Southridge/Morgan Creek El/Grandview Heights Sec. This end unit backs onto a greenbelt, boasting spacious rooms and high ceilings throughout. Almost 3,000sqft of living space including a daylight, walk out ground level space with wet bar and private bath perfect for self contained in-law or nanny suite. Main living area including living room, family room and formal dining space surrounds the white shaker kitchen with large island, high end appliances, gas range and stone countertops. 4 bedrooms on the upper level including primary suite, wi closet and ensuite bath with soaker tub. Patio w/fenced yard, sundeck w/gas bbq and full size dbl garage,

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Just Listed in Willoughby Heights! 33 6747 203 St Langley BC

We have just listed this 2 bed and 2 bath end unit in Sagebrook by Polygon.

Located in a quiet area of the complex close to the playground and the clubhouse with an outdoor pool, hot tub, exercise center, billiards, floor hockey and catering / party rooms.

Bright and airy unit with large yard off the main level. Open concept main floor, contemporary kitchen with bonus eating/flex space plus large dining and living area.

Primary suite, ensuite bath, his/her closets, generous size spare bedroom and laundry on the upper level.

Tandem garage with extra storage plus visitor parking.

Sagebrook is located within walking distance to schools, rec, parks, shops and transportation.

33 6747 203 St is asking $749,900 and showing by appt only.

View image gallery, cinematic video and home specs  HERE

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Surrey Real Estate. Market Update.

Clients, Friends and Neighbours,

Check out the latest memo from the Fraser Valley Real Estate Board re Octobers uptick in sales … 

“Home sales in the Fraser Valley increased for the first time in five months following a sizable interest rate cut by the Bank of Canada in October. The Fraser Valley Real Estate Board recorded 1,330 sales in October, up 35 per cent from September, and 37 per cent year-over-year.

“After waiting it out on the sidelines for a number of months, buyers seem to be finally responding to the series of successive rate cuts by the Bank of Canada,” said Jeff Chadha, Chair of the Fraser Valley Real Estate Board.

“Whether this is an indication of further sales trends, remains to be seen, especially as the feds eye a possible additional cut before year-end.”

New listings declined in October, down 5 per cent to 3,194, but increased 26 per cent year-over-year. Overall inventory dipped in October to 8,799, down three per cent from September, but up 34 per cent over last year.

Rising sales and steady inventory levels have the Fraser Valley in a balanced market with a sales-to-active ratio of 15 per cent. The market is considered to be balanced when the ratio is between 12 per cent and 20 per cent.

“October’s healthy sales boost is a welcome development for buyers and sellers alike,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “The coming weeks and months will shed more light on whether buyer optimism has returned now that the cycle of interest rate cuts is in full swing.”

Across the Fraser Valley in October, the average number of days to sell a single-family detached home was 34, while for a condo it was 32. Townhomes took, on average, 29 days to sell. Benchmark prices in the Fraser Valley dipped for the seventh straight month in October, with the composite Benchmark price down 0.7 per cent to $971,700.

Have you been thinking of making a move this year or early next year?  Now would be a good time to schedule a no obligation home evaluation.

We can help.  Its what we do.

Jenn & Colin

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I have sold a property at 14866 59 AVE in Surrey

I have sold a property at 14866 59 AVE in Surrey on Oct 21, 2024. See details here

Millers Lane by Morningstar homes. Bright and open 2 story home plus fully finished basement. The main floor features vaulted ceilings and huge picture windows. Living and dining rooms at front, the kitchen and family rooms at back walk out to a large, private south facing patio and fully fenced yard. Primary suite, ensuite bath and walk in closet with 2 generous size bedrooms on the upper level. Bonus flex/hobby room in the basement plus a fully contained 1 bedroom in-law/nanny suite with separate entrance. Updates include a/c unit, h/w tank, radiant heat in bathrooms, some flooring and lighting. 17x17 double car garage with 4 car parking pad. Located within walking distance to local schools, parks, ymca and the shops at Panorama. Best value in the area!

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Supersize Rate Drop. Surrey Real Estate Update.

Dear Clients, Friends and Neighbours,

On October 23rd The Bank of Canada lowered its overnight policy rate by 50 basis points from 4.25 per cent to 3.75 per cent.

In the statement accompanying the decision, the Bank noted that the economy continues to operate in excess supply and economic growth has been modest.  Further, the Bank stated that inflationary pressures are no longer broad-based, and that consumer and business inflation expectations have largely normalized. Moving forward the Bank anticipates inflation will remain close to its 2% target.

While the Bank normally reserves movements larger than 25 basis points for more urgent times it seems it preferred to catch-up all at once however, it has risked setting a new precedent and will have to communicate its intentions going forward very carefully to avoid a market over-reaction.

Although we have seen a slight uptick in Surrey and South Surrey housing sales over the last month, market conditions continue to be soft overall.

This latest rate cut will do a lot to restore consumer confidence and create windows of opportunity for those with variable rate mortgages, folks with fast approaching loan renewals, folks carrying credit debt and for first time home buyers.

Although unlikely to turn the tide dramatically, this super-size rate cut may start the process of opening the market up to those who have been on the sidelines for a long time.  Unsteady economic and interest rate conditions have caused many folks to delay listing their home and consequently their goals of buying up, making a lateral move or downsizing.

If you have been one of those households waiting for the tide to turn, now would be a good time to meet with your local realtor and chat about timing considerations as many expect the Bank will be cutting rates again in December.

Its likely an early spring market is in the cards, a trend we have seen in previous market turn-arounds.  Many analysts expect the 2025 spring market to come in hot as pent-up demand to make a move has been sustained over a much longer time than in recent history.

If that is the case, one would hope the spring market starts with some balance ie: a healthy supply of new inventory that nicely matches the rising demand. 

However, if the Bank of Canada cuts rates too fast or pent-up demand and buyer FOMO come on too strong housing prices could shoot up dramatically thus eliminating the advantages of lower borrowing costs.

Either way, if you have been thinking of making a move in the near future it will be important to speak to a real estate expert who can help illuminate the ever growing list of risks and opportunities.

We can help.  It’s what we do.

Jenn & Colin

 

 

 

 

 

 

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I have sold a property at 14905 59 AVE in Surrey

I have sold a property at 14905 59 AVE in Surrey on Oct 2, 2024. See details here

Spacious home in the heart of Sullivan Panorama. Originally built by Foxridge this immaculate home offers one of the largest lots and floor plans in the area. Open concept main floor with oak flooring, large kitchen with stainless appliances and granite countertops. Flex room at entry perfect for home office or bonus bedroom. Great room walks out to a large, private and fully fenced yard and patio. Upper level offers generous sized bedrooms incld jack/jill ensuite bath for kids plus luxurious primary suite/ensuite bath for mom and dad. Basement is fully finished with separate entry and a floor plan that can flex for any family. Potential to convert into self-contained 1-2 bed in-law suite. Double garage with deep driveway for multiple cars or rec vehicle plus in ground sprinkler system.

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I have sold a property at 16 15152 62A AVE in Surrey

I have sold a property at 16 15152 62A AVE in Surrey on Oct 8, 2024. See details here

$240 / MNTH CREDIT BEING OFFERED TO BUYER FOR 2 YEARS TO OFFSET STRATA FEES! Uplands. Duplex style home with over 2,000sqft on 3 levels. Bright open concept main level with picture windows, large sundeck, warm tone laminate kitchen w/breakfast bar and stainless appliances. Large bedrooms on the upper level including primary bedroom, ensuite bath, WI closet and mountain views. Walk out basement with 4th full bathroom, wet bar and fridge can easily convert into nanny/in-law/teen space with room for a 4th bedroom and full kitchen!! Private, beautifully landscaped back yard and patio space, fully fenced. PLUS, 10,000sqft clubhouse including outdoor pool, hot tub, gym, playground, guest suites, rec/catering space, indoor hockey box and movie room. Some images have been virtually staged.

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Just re-Listed in Panorama Hills! 5902 148th St Surrey BC

We just re-listed 5902 148 St!

Foxridge built home in Panorama Hills, the heart of the Sullivan/Panorama community.

Walk to local parks, schools, public transit, YMCA, Fresh St Market and the shops at Panorama.

Just over 2,500sq ft of bright open rooms over 3 levels, 4 beds and baths including self contained 1 bedroom in-law suite in the basement with private laundry.

Well cared for, immaculate home with fresh paint throughout.

Open concept plan on the main level walks out to private full fenced yard and patio.

Huge primary suite with WI closet and ensuite bath plus 2 more generous size bedrooms with shared ensuite bath on the upper level.

Detached double car garage with lane access.

5902 148th St is asking $1,389,900 and showing by appt only.

View image gallery (some images have been virtually staged) HERE

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I have sold a property at 2 15030 58 AVE in Surrey

I have sold a property at 2 15030 58 AVE in Surrey on Jun 19, 2024. See details here

Summerleaf townhomes. Small, well run and cared for complex located in the heart of the Sullivan Panorama area on a tree-lined street within walking distance to local schools, parks, YMCA, Fresh St Market and the Shops at Panorama. Bright, airy and immaculate end unit with private entrance and yard off 58th Ave. Fresh paint throughout, open kitchen with family/flex room and sunny south facing deck. Separate living dining areas walk out to private fenced and landscaped yard. 3 generous sized bedrooms including primary suite and ensuite bath plus laundry on the upper level. 2 car tandem garage with small parking pad. Dogs and cats okay, manageable maintenance fees, absolutely pristine unit!

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I have sold a property at 79 14838 61 AVE in Surrey

I have sold a property at 79 14838 61 AVE in Surrey on Sep 2, 2024. See details here

Sequoia. Charming townhomes with contemporary interiors located in one of Surreys most walkable neighbouhoods. This 3 bedroom home has a powder bathroom and a fully fenced south facing yard on the main level! Super bright open concept plan with laminate flooring. Sleek kitchen with warm cabinetry, stainless appliances, granite counters and tile backsplash plus built in pantry, telephone desk and breakfast bar. Upstairs offers 3 generous sized bedrooms including primary suite and ensuite with his/hers sinks and w-i closet. Complex offers mature green spaces and gardens with playground. Large clubhouse with meeting/catering/party space plus guest suite and fully equipped exercise center. Walk to local schools, parks, YMCA, Fresh St Market and the Shops at Panorama.

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Just Listed at Blu Living. 32 15988 32nd Ave South Surrey BC

Blu living townhomes are located only minutes to local parks and beaches, Morgan Creek Golf Course, Grandview Aquatic Center and the Shops at Morgan Crossing. Local schools incl Southridge Private,  Morgan Creek Elementary, Grandview Heights Secondary.

This end unit backs onto a greenbelt, boasting spacious rooms and high ceilings throughout.

Almost 3,000sqft of living space including a daylight, walk out ground level space with wet bar and private bath perfect for self contained in-law or nanny suite.

Main living area including living room, family room and formal dining space surrounds the white shaker kitchen with large island, high end appliances, gas range and stone countertops.

4 bedrooms on the upper level including primary suite, walk in closet and en-suite bath with soaker tub.

Large walk out patio with fully fenced yard plus a sundeck with gas bbq off the main level. Full size double car garage with extra storage.

32 15988 32nd Ave is asking $1,389,800 and is showing by appt only.

View image gallery, cinematic video tour and area specs HERE

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The Surrey Real Estate Market. Making a comeback?

Dear clients friends and neighbours,

Despite the last two rate cuts by the Bank of Canada (BOC) buyers are still struggling to overcome challenges with affordability in Surrey and the Fraser Valley.  High interest rates have kept first time buyers and those looking to buy up firmly planted on the sidelines, waiting in anticipation of further rate cuts.
 
Well the wait is over … ish. 
 
The BOC just lowered its lending rate another 25 basis points from 4.5 per cent to 4.25 per cent.  Those who will notice an immediate change are those dealing with mortgage rates, variable rates, or lines of credit but after record-high inflation it’s going to take a bit longer until we see a significant bump in housing activity and demand.
 
Over the summer the supply side of the market had been adjusting to low demand, new listings in the Fraser Valley dropped approx. 20 per cent in August.  However, the steady supply of new listings and sluggish sales over the first half of the year resulted in total inventory rising to its highest levels since 2019. 
 
Home prices continue to remain flat.
 
The average price of a detached home in South Surrey White Rock currently sits at $2,189,000, townhouses at $1,093,000 and apartments at $700,187. 
 
For Sullivan Panorama and further north into Surrey / east into Cloverdale average prices are slightly more affordable;  detached homes $1,526,000, townhomes $800,577 and apartments $523,333.
 
Most analysts are expecting more demand for the final quarter of this year and into 2025.  Further to that, Central 1 Chief Economist Bryan Yu predicts BOC lending rates to drop to 2.75 per cent by the middle of 2025.
 
Although inflation and higher interest rates causes some anxiety, real estate is still a super solid long-term investment.  We like to think of our homes mortgage as a forced savings program.  
 
With that in mind, if you have been wondering when to get back into the market - whether looking to purchase your first home, buy up, downsize, or make a lateral move - now is a good time to get some advice that can help you cut through the noise.
 
Get in touch with your mortgage broker and book a home evaluation with your local realtors to fully understand where interest rates are headed in the coming months to determine the best short or long term strategy for you.
 
We can help.  It’s what we do.

Jenn & Colin
 

Dear clients friends and neighbours,

Despite the last two rate cuts by the Bank of Canada (BOC) buyers are still struggling to overcome challenges with affordability in Surrey and the Fraser Valley.  High interest rates have kept first time buyers and those looking to buy up firmly planted on the sidelines, waiting in anticipation of further rate cuts.
 
Well the wait is over … ish. 
 
The BOC just lowered its lending rate another 25 basis points from 4.5 per cent to 4.25 per cent.  Those who will notice an immediate change are those dealing with mortgage rates, variable rates, or lines of credit but after record-high inflation it’s going to take a bit longer until we see a significant bump in housing activity and demand.
 
Over the summer the supply side of the market had been adjusting to low demand, new listings in the Fraser Valley dropped approx. 20 per cent in August.  However, the steady supply of new listings and sluggish sales over the first half of the year resulted in total inventory rising to its highest levels since 2019. 
 
Home prices continue to remain flat.
 
The average price of a detached home in South Surrey White Rock currently sits at $2,189,000, townhouses at $1,093,000 and apartments at $700,187. 
 
For Sullivan Panorama and further north into Surrey / east into Cloverdale average prices are slightly more affordable;  detached homes $1,526,000, townhomes $800,577 and apartments $523,333.
 
Most analysts are expecting more demand for the final quarter of this year and into 2025.  Further to that, Central 1 Chief Economist Bryan Yu predicts BOC lending rates to drop to 2.75 per cent by the middle of 2025.
 
Although inflation and higher interest rates causes some anxiety, real estate is still a super solid long-term investment.  We like to think of our homes mortgage as a forced savings program.  
 
With that in mind, if you have been wondering when to get back into the market - whether looking to purchase your first home, buy up, downsize, or make a lateral move - now is a good time to get some advice that can help you cut through the noise.
 
Get in touch with your mortgage broker and book a home evaluation with your local realtors to fully understand where interest rates are headed in the coming months to determine the best short or long term strategy for you.
 
We can help.  It’s what we do.

Jenn & Colin
 

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