The Fraser Valley real estate data for August 2024 hasn't shown the encouraging signs that many hoped for, particularly following recent interest rate drops, which have yet to make a significant impact on the market. I have explained the reason for this phenomenon in my blog here. Stagnant Prices in Fraser Valley Prices across the Fraser Valley have remained largely unchanged compared to July 2024,...
If your home lies along Scott Road, you're sitting on a potential gold mine. The City of Surrey has unveiled a transformative planning strategy,Imagine Scott Road Visioning Study, that will dramatically reshape the area, increasing density by nearly 290% and making it one of the most sought-after locations in the region. A Surge in Housing and Population The plan focuses on the corridor...
The real estate market seems to be in a lull, even as interest rates have started to drop. But why isn't the market responding as expected? Understanding Market Lag: The Rule of Macroeconomics A fundamental principle of macroeconomics is that it takes time—typically a full quarter—for the market to fully respond to changes in interest rates. Think back to the initial interest rate hikes: the...
Starting August 1st, 30-year amortization for FTHBs for insured mortgages (less than 20%) will kick in. If you don’t know, 30-year amortization is available for uninsured mortgages only, or in other words if you put 20% or more down. Excited? Well, the devil is in the details First, CMHC has announced recently to increase its premium by 20 basis points. Again, if you dont know, if you...
If you despise real estate agents or developers or investors, then this blog is for you. Some segments of society just can’t stand people going for home ownership and professionals helping them. They are settled with paying rent throughout their life. So this little educational video is for you. You may have forgotten this lesson in your elementary school, but the concept of land ownership has...
It means that two-storey residential houses can now be converted into three-storey by installing a residential storm pump that will help drain stormwater in the main municipal storm line. Gravity causes fluid to flow downward. Municipalities provide stormwater (rainwater) and sanitary (sewage) connections. Typically, these municipal mains are located deep underground, below the minimum basement...
Earlier this week, BC Premier David Ebby has announced a proposed legislation to end the 'Outdated Zoning Bylaws'. This has created some noise, but this is not the first time he mentioned about the end of Single-Family Zoning. Actually, in early spring, Mr. David Ebby actually announced this proposal as part of Homes for People plan. Homes for People plan is the end of everything OUTDATED and...
Bridgeview is one of the oldest areas of Surrey. It makes North West Boundary of Surrey. It falls under Whalley Town Center jurisdiction. Bridgeview is primarily known as an industrial area. The neighbourhood has a mix of industrial parks, warehouses, and transportation-related infrastructure. Scott Road Station is in the Bridgeview Area. The South Fraser Perimeter Road and Highway...
The financial world is never short of twists and turns, and the latest one is sure to leave you intrigued. Picture this: a pause in interest rate hikes, as expected. But why did it happen, and what does it mean for the real estate market? Let's dive into the details. The Backstory: Weakening Economy and Rising Unemployment Before we get into the juicy bits, let's rewind a little. The stage was...
Buyer's, things you need to watch out at Open House! Open house is first round where you decide to pursue or not with the property. So make sure you make a list of things that matter you alot and check those during open house.