surrey real estate Archives - Fraser Valley Lifestyle

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

REAL ESTATE February 11, 2020

The Fraser Valley Real Estate Market – February 2020

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

REAL ESTATE January 31, 2020

2019 / 2020 Medallion Award – Mike Wilson

Medallion Award

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

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!