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The threshold for Home Owner Grant in BC has been increased to $1,050,000 from $950,000 in assessed value. This is across all communities within BC and ensures that 95% of all BC homeowners qualify for the basic grant.
According to BC Assessment, the value of the 2008 Assessment Roll increased approximately 16 per cent from the previous year.
Finally there is some movement and good news on the IDX contract. The Board lawyers have finalized the IDX contract for bcfarmandhome.com and it has been forwarded to us. We are in the process of going over the contract and getting any questions answered. Now, getting the answers is a tedious process. Since this is the first time a Fraser Valley Realtor is offering such a capability to search for listings, the Board itself isn’t fully versed in the technology or the conditions they have imposed on us.
We do anticipate that we will be able to release the site to the public prior to year end. We have just over two months to finish the coding and design on the IDX.
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Analysts are arguing that due to the problems in the U.S. subprime mortgage market, mortgage rates have hit multiyear highs, and there could be worse to come before things settle down. It is costing the banks and other lenders more to raise the money they use to finance mortgages, and they’re passing the cost on to people buying homes and refinancing existing mortgages.
The posted rate at the major banks for five-year mortgages is as much as 7.44 per cent right now, the highest level since May, 2002. New variable-rate mortgages are becoming more expensive almost by the day. This is, however, not effecting existing variable-rate mortgages.
Apparently a lot more than currently employed by the Fraser Valley Real Estate Board. This post is more of a rant about the speed, or lack thereof, when it comes to getting things done at the Board.
Here is the background: I am have been working on my main site for Fraser Valley real estate for about 6 months now. Once active, this site will be the most useful site for buyers or sellers looking to trade real estate in the Fraser Valley. The site is almost complete, the only hold up is the most important feature of this site. And before we even start to work on that feature, we have to sign a contract with the FVREB.
Are you looking for real estate in the Fraser Valley with the intent to establish a blueberry farm? Are you planning to buy an already-established blueberry farm?
If yes, do keep in mind that buying rural real estate not the same as buying an urban or suburban property. There are many factors that are unique to rural real estate, especially one that is being considered for agriculture. Factors such as such as water supply, septic systems, soil fertility, soil drainage play a very important role.
British Columbia Real Estate Association (BCREA) reports that residential sales volume on the Multiple Listing Service® (MLS®) in BC climbed 44 per cent to $4.66 billion in July, compared to the same month last year. Residential unit sales increased 25 per cent to 10,447 units during the same period, a record number of July transactions. The average MLS® residential price hit $446,386, up 15.2 per cent from July 2006.
First time home buyers, either looking for a detached or attached home in the Fraser Valley, should put their emotions aside and follow some basic guidelines.
Get as much information as you can before buying and it does not take a lot of time to do your research. Investigate various neighbourhoods as well as types of housing you may not have previously considered. And find out how far your dollar will go in the neighbourhood where you would like to buy.
A lot of information is available on the Internet, but you should hire a real estate agent to help interpret it properly and dispel any real estate myths.
I have buyers looking for the following properties in either Surrey or Langley. If you have a similar property that you wish to sell, please contact me either by calling me directly at (604)767-4841 or by emailing me by using the contact form on the “contact page”.
1. Buyer looking for an acreage in Langley. Ideally looking for 2-3 acres, but may consider buying a 5 acre parcel.
2. Buyer looking for development property in Willoughby.
3. Buyer looking for a one or two bedroom apartment in Surrey, must be close to a SkyTrain station.
If you own a property that matches what these buyers are looking for, please give me a call.
When selling your home there are no guarantees that a buyer will simply walk through the front door. In many cases you may have to bring your home to the buyer. Effective marketing will help ensure that your property receives maximum exposure to attract a ready, willing and able buyer. The appearance of your home, a buyer’s first impressions, and other considerations can also affect the sale of your home. Be sure to explore tips for increasing your home’s value. Have you considered that home prices in your neighborhood and the value of your property are also factors used for pricing your home? Keep Reading
Sales and prices remained strong, while new listings climbed during the month of May, according to statistics from the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®). The total number of sales processed through the MLS® in May was 2,152, a decrease of 4 per cent compared to the same month last year – the highest May on record - when 2,245 sales were processed. This is an increase of 21 per cent compared to last month when 1,781 properties sold in April, 2007. Keep Reading
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