langley real estate Archives - Fraser Valley Lifestyle

REAL ESTATE June 11, 2020

Summer Real Estate Predictions Are Hard To Make

What’s happening in the Real Estate market?
By far, as a Realtor the question I get asked the most is, “what’s happening in the real estate market?” and then the next thing people want to know, especially during these uncertain times is, “what is going to happen in the real estate market next several months?”

The COVID-19 Factor
As you can imagine, it’s difficult to predict what is going to happen and opinions among real estate professionals vary right now almost week to week! A big reason is we just don’t know what’s going to happen with COVID-19. Is there going to be another wave? Are businesses going to be able to stay open and recover? What will the impact of the current protests, social unrest, and the November US election be? As you can see, there are a lot of unknowns right now.

CMHC predictions
In the midst of all this, the CMHC came out with quite a “dire prediction”* saying that housing prices will drop in BC. CMHC CEO Evan Siddall “told a parliamentary committee that Canadian house prices could drop by as much as 18%.”*

He also said that “20% of mortgage holders who are deferring payments could be in arrears at the end of September when the COVID-19 deferral period finishes if the economy doesn’t improve.”*

Adding insult to injury for those of us who live in Vancouver he mentioned that Vancouver along with Toronto and Alberta could be the hardest-hit places.

A bit of optimism
More optimistically there is still a demand for housing in Metro Vancouver and real estate is selling. There has been a healthy increase in listings and sales so far in June and we may be on pace to have more listings and sales than we did in June 2019. In June 2019 there were 913 listings and 397 sales and as of June 9, 2020, there are 863 listings and 380 sales. In all of May 2020, there were only 522 listings and 180 sales. This increase in June over May 2020 is probably due to pent up demand that occurred as a result of the shutdown, so it will be interesting to see what happens during the summer.

Travel restrictions
It’s going to be an unusual summer because of the continued restriction on travel. Immigration in Metro Vancouver is a driving factor in our housing market, but with the travel restrictions, immigration is reduced dramatically. If restrictions are lifted immigration can return, pushing the real estate market to pick up again.

On top of immigration and travel, people won’t be going away as much this summer which usually causes a bit of a seasonal lull in real estate sales. I’m curious to see what the impact will be on the housing market this summer with more people having to stay home rather than leave on vacation.

Mike’s current advice
My current advice is if you are a homeowner and you are needing or wanting to sell, this may be an opportune time to discuss your options with your real estate professional.

I want my clients to know, as challenging as it might be sometimes, that I am always open to discuss what is occurring in the housing market. If you have any questions about your property, please don’t hesitate to contact me.

Please take good care,

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

*Vancouver Sun https://vancouversun.com/news/local-news/cmhc-offers-dire-predictions-for-house-price-drops-in-b-c?utm_medium=Social&utm_source=Facebook#Echobox=1590622621
Photo: https://www.digitalmarketer.com/blog/marketing-predictions-2020/

REAL ESTATE May 26, 2020

COVID-19: Preparing Your Home For Sale

To say the least, we live in uncertain times. That said, I still have clients who need to sell or buy a home right now. I also have clients ready to buy and sell when the impact of the pandemic and the need for social isolation is over. If you have decided to sell your home either now, or in the future, there are several things that will maximize your home’s appeal to potential buyers and get your house sold COVID pandemic, or not!

1. Paint The Walls in Neutral Tones
A new coat of paint will leave each room looking fresh. and choosing neutral tones appeals to a wide audience, creating a blank slate for potential buyers to picture the space as their new home.

Taking the time to touch up scuff marks on baseboards and door frames will also give your home an extra polish to make it feel more move-in ready.

2. De-Clutter, De-Clutter, De-Clutter.
If a house is overflowing with stuff, not only can it make an entire room look smaller, buyers may worry that there is not enough storage for their own belongings. Start with decluttering countertops, bookshelves and window sills, and then tackle the cupboards, drawers, and closets. No space is off-limits for the eyes of a curious buyer!

Use this rule of thumb: Make sure each storage space is never more than half full, and organize what is left to look uniform and tidy. Decluttering can be tedious, but it offers the added bonus of helping you get organized for packing for your own move.

3. Fix The Small Things
This small detail can make all the difference; do a walk-through of your home and fix any loose handles. Check the drawer-pulls on cabinetry and make sure your closet doors are tracking properly. Secure shelves and check that they’re level. Be sure that there aren’t lightbulbs missing and their switches are all working. Check that the window coverings are all hanging properly.

These are some of the simplest things you can do to ensure a positive impression of your home, and when missed, may make potential buyers consider what else may be broken in your home.

4. Consider Curb Appeal
No matter how inviting the interior of your home is, potential buyers have already formed an impression before walking through the door. Increase your curb appeal by tidying up garden beds and ensuring your lawn is in good shape, add some greenery with inexpensive shrubs and bright, cheery flowers. Fix any cracks in your front steps or walkway. Painting your door a different color and adding a few flower pots to your front porch will also go a long way.

5. Keep Your Home Show Ready
Now that you’ve painted, de-cluttered, cleaned every corner, and made sure everything is in tip-top shape, you never know when a buyer may schedule a last-minute tour. Don’t leave dishes in the sink, keep the bathroom sparkling, ensure the beds are made and keep the floors free of dust bunnies. It may be inconvenient but you never know which viewing will lead to a sale!

Need help? Here are few places I’d like to recommend…

Need hardware and paint? Home Hardware – White Rock
Need paint, furniture restoration, and decorating help? The Passionate Home – Langley
Need to do some gardening? Art Knapps – Surrey

Please take good care,

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

Photo: Livabl

REAL ESTATE March 13, 2020

Fraser Valley Real Estate for March 2020 and COVID-19

There’s no escaping news about COVID-19 is there? People have very legitimate concerns as the virus spreads around the world. As a Realtor people are even asking me how I think the virus will affect Fraser Valley Real Estate and the consensus among my colleagues and other experts is for the time being COVID-19 shouldn’t have too dramatic of an impact on the local Real Estate market unless there is a real downturn in the economy.

Coinciding with the spread of the virus is the news that interest rates have dropped and this is usually helpful to the Real Estate market because it makes it easier for people to get home loans.

Also, as I mentioned in my Real Estate update last month, earlier in the year we were undergoing the impact of the stress test that was introduced in 2018 and I believe the impact of that is lessening helping sales to return to above-average levels in our region over the last couple of months.

Real Estate is one of those sectors that can sometimes get a pass when other sectors take a hit because housing is an essential need and it’s more of a singular activity. As we see concerts and public events being canceled, that doesn’t necessarily impact an activity like buying or selling your home.

All that said, we’ll see what happens regarding COVID-19 and its impact on the real estate in the Fraser Valley. This is quite an unusual circumstance as the virus moves to a worldwide pandemic level. One thing we can say about the Real Estate market is that it is often impacted by bad economic news, and as the media hype machine continues at a full-throttle pace creating fear and distress we’ll just have to see what happens.

Wishing YOU all the best!

Questions

If you want to know more, I’m here to answer your real estate questions and help you with your real estate buying and selling needs. Please feel free to contact me.

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

COMMUNITY September 18, 2018

Luxury Living in Morgan Creek

If you’ve ever dreamed of one day driving down the tree lined streets of Morgan Creek to your
own personal sanctuary, wait no longer!

This beautiful home offers an amazing location in the gated community of Wedgewood, Morgan Creek. Just steps to the Morgan Creek club house, and backing onto the 12th fairway of the golf course, this is perfect package for empty nesters who want to downsize without sacrificing space and luxury.

With over 5,200sq.ft. of living space, everything in this home is grand. As you step inside, you
are greeted with an open foyer, cascading staircase, vaulted ceilings as well as formal living and
dining areas – prefect for those holiday dinners and family get-togethers! Moving along, you’ll
discover the office with private patio area, spacious powder room, and chef’s kitchen with
granite countertops, large island, high-end appliances and breakfast nook. Looking out from the
kitchen is the large family room creating the prefect space to gather with friends and family and
enjoy a glass of wine! With direct access from the main floor to your private covered patio
areas, you can enjoy the seasons surrounded by lush, manicured landscaping and view of the
12th fairway! Completing the main floor package is the tastefully appointed master suite offering private patio, gas fireplace, spacious ensuite with soaker tub, double vanity and shower as well as large walk-in closet.

For guests, or the kids, the upstairs is complete with two additional bedrooms, both featuring
private ensuites and oversized closets. As a bonus, one of the secondary bedrooms also
features private balcony with views of the fairway!

Heading to the fully finished lower level, you’ll find a large wet bar and entertaining space, flex
room which is prefect for future gym or play room, den, additional bedrooms as well as full-sized
laundry room with dog shower!

The final piece is how much storage space this home has to offer. In addition to the double car
garage, you’ll find two full-sized storage rooms in the lower level, offering ample storage space!
Morgan Creek has long been regarded as one of the most exclusive and desirable neighbourhoods in the Fraser Valley. Centrally located, it offers amazing access to high-end shopping, dining, schools, beaches, recreation, as well as amazing proximity to the Peace Arch Border and Downtown Vancouver.

If you’re ready to start living the dream, take a tour!