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Sales have returned to above-average levels

If you are a homeowner watching the Real Estate market in the Fraser Valley, you may have noticed that 2019 finished strong after a comparatively lackluster year. Early in the year, we were still undergoing the impact of the stress test that was introduced in 2018, but with steady job growth and a stable economy, sales have returned to above-average levels in our region.

January 2020 was active

January was an active month in the local Real Estate market. I even had multiple offer situations. That said, this might be a good time for homeowners to consider selling because of increasing demand and a limited supply of houses for sale. Some homeowners in our region who were thinking about selling have been waiting for prices to rise a little and that time is now!

Lower Interest Rates

There are a few factors at work that are contributing to the potentially lower interest rates and that will impact the market too. The current pressure on “bond market yields” is an indicator that the banks will continue on a trend to lower interest rates. Long term rates will likely come down as the banks look to secure long term mortgage lending, as opposed to short term mortgage lending. (see below) Currently, international concerns regarding the Coronavirus are contributing to this downward trend too.

An interesting note regarding long term mortgages

In the past, long term mortgages have been considered to have very restrictive terms of repayment, so people shy away from them. Legitimate concerns about early payout penalties, large upward interest rate shifts, during the mortgage term have made these unpopular choices for buyers.

Changes to longer-term mortgages

Did you know that after five years in any mortgage term lenders can no longer charge the “interest rate differential penalty”? The maximum penalty is a three-month one-time penalty. This is a great new safeguard should you choose a long term rate. Also, you are still able to “portable” your mortgage to your next home in most cases.

Questions

If you want to know more, I can arrange for all your questions to be answered by a trusted mortgage professional.

Regards,

Mike Wilson
Remax Treeland
604-533-3491
mike@fvlifestyle.com

Photo by Francesca Tosolini on Unsplash

Medallion AwardFraser Valley Real Estate Medallion Award Mike Wilson

I am honored to announce that I have qualified for the 2019/2020 Fraser Valley Real Estate Boards “medallion award.”

Experience

Based on my 32 years of real estate experience, I have an in-depth knowledge of the subtleties of purchasing and selling real estate in the Fraser Valley and I take professional and personal pride in keeping my clients up to date on marketing trends.

Welcome to the Club!

The Medallion Club is an annual acknowledgment from the Fraser Valley Real Estate Board that recognizes the top professionals. To achieve Medallion Club status, you must be in the top 10% of all members in terms of your combined listings, sales, and dollar volume for the year.

Thank you!

Thank you to all of my valued clients, customers, and referral partners, for your continued support. This award and the other ones that I have received are really secondary to doing business with you!

Please take good care,

Mike Wilson
Remax Treeland
604-533-3491
mike@fvlifestyle.com

Summertime always has me craving fresh, healthy foods. But sometimes I get a little sick of eating veggies and salads. Getting creative with healthy foods can sometimes feel a little complicated and daunting, but it doesnt have to be! Try keeping your snack choices simple, colourful, and fulfilling. Here are a couple of my favourite healthy go-to snacks: 

 

What better way to welcome the Summer than with a soirée?  Join us June 21st at Krause Berry Farm and Estate Winery for an evening filled with fun, food, wine, dancing live music and more!

The Summer Solstice Soirée en Blanc is a magical way to celebrate the longest day of the year and the beginning of Summer all while helping local families in need! All proceeds will go to provide support to local families over the Christmas holidays this year through Think Generously Society. Last year we supported 32 families through our unique fundraising events! Lets aim to beat this number this year!

 love spring more than almost everything else in life. And one of the reasons I love it so much is a transplanted Dutch phenomenon here in the Fraser Valley – Tulips! 

I love tulips so much that they are easily one of my favourite flowers. So, when the good people of the Fraser Valley took it upon themselves to perfect growing these seasonal beauties, AND THEN opened their fields up for us to frolic in, I was beyond overjoyed.