We'll try to keep this informative, concise, and not clutter your inbox with useless information.
Market activity in the Fraser Valley – both sales and new listings – softened in July, however buyers continued to significantly outnumber sellers resulting in inventory reaching the lowest for the month since 1981.
Larry Anderson, President of the Board, said,
“Demand for homes in our region, however, remains above average – for fourteen months we have been in a seller’s market for Fraser Valley detached homes, townhomes and condos – and yet for the last four months, new listings in our region have been decreasing.” WE HAVE BUYERS! We need:
Acreage in South Langley
Build sites for condos, townhomes or single family detached
Single family homes in Langley and South Surrey
If you or anyone you know is considering a move call us today. Your home may be worth more than you think! Thank you to everyone who took part in our Sassy Frass Kitchenary giveaway last month on Instagram! Congrats to the winners who get to spice up their home cooked culinary delights.
We are always planning contests and announcing community events/news, so be sure to subscribe & follow to keep connected with us on instagram: @robvisnjak & @pbouwmanrealestate.
If you're looking to see what your home might be worth you can check that out here:
Single Family Detached: At $1,319,200, the Benchmark price for an FVREB single-family detached home decreased 0.4 per cent compared to June 2021 and increased 30.9 per cent compared to July 2020.
Townhomes: At $688,400, the Benchmark price for an FVREB townhome increased 1.5 per cent compared to June 2021 and increased 22.3 per cent compared to July 2020.
Apartments: At $494,000, the Benchmark price for an FVREB apartment/condo increased 0.1 per cent compared to June 2021 and increased 13.0 per cent compared to July 2020.
Spacious living and fabulous south-facing outdoor balcony make this two-bed, two bath unit at Villa Pacific a must see. Situated in a quiet cul-de-sac in desirable South Surrey, this top floor residence boasts 974sqft of living space plus a 160sqft covered balcony.
Two spacious bedrooms, including a full master ensuite with glass shower and double sinks. Entertain guests in the open living and dining area, or relax in front of your cozy fire place. Includes two parkings spots, one storage locker, in suite laundry, close to transit, shopping, and recreation in beautiful Sunnyside Park. Easy to show and it’s move-in ready!
MORTGAGE AFFORDABILITY
Presently Variable mortgage rates are the lowest sticker price. We are fully expecting inflation to drive Variable rates in the coming years however not until in to 2022. The economy has been rebounding however government officials and economists are moving forward with cautiously optimistic statements about where we are headed with COVID variants at the forefront of everyone’s minds.
Fixed rates recently have been on a harsh down turn and bond yields have dipped nearly 0.25% over the past two weeks. In the mortgage world we are yet to see that dramatic drop materialize in to lower Fixed rate mortgages but are expecting announcements of rates lowering in the next week or two heading in to fall market.
Current rates as of August 5th, 2021:
5 year Variable rate mortgages can be found ranging between 1.25% - 1.75%
5 year Fixed rate mortgage can be found ranging between 1.79% - 2.49%
These all pending mortgage size, credit score, amortization schedule and purchase price of home. Rates are subject to change without notice and only upon formally approved credit*
Want to know what your annual household income can buy?
The following assumes 20% down payment, standard debt to income ratios following CMHC guidelines, 30 year amortization, no debts outside of mortgage application and Bank of Canada 5.25% qualifying rate:
This is not intended to solicit properties currently listed for sale or individuals currently under contract with a brokerage. All information was current on August 4, 2021
Tags
finding a Realtor, langleyhomes, clayton homes, south surrey homes, white rock homes, real estate market, bc real estate, Rob Visnjak, Homelife Benchmark Realty, Stats, FVRB, top realtor for buying a new home, top real estate agents in langley, top real estate agents in white rock, sell a home, cloverdale, surrey, langley, clayton, surrey homes, white rock, housing market, Homelife, Statistics, FVRB Statistics, Fraser Valley Real Estate, top real estate agents in surrey, top real estate agents in cloverdale, selling a home
Your profile is almost complete! Just a few more details from you.
By digitally signing this form you are providing with your express written consent to send you business and marketing communications via email and by calls or prerecorded messages dialed by a natural person or by an automatic or automated telephone dialing system. This express written consent applies to each such email address or telephone number that you provide to us now or in the future and permits such communication regardless of their purpose.
Yes I consent to receive marketing text messages
If checked, you consent to receiving texts including marketing and promotional communications, from . Messages and data rates may apply. Message frequency varies. To opt out of text messages, reply STOP. Your consent is not required as a condition of any purchase. By continuing, you also agree to our Terms & Conditions and Privacy Policy
By digitally signing this form you are providing with your express written consent to send you business and marketing communications via email and by calls or prerecorded messages dialed by a natural person or by an automatic or automated telephone dialing system. This express written consent applies to each such email address or telephone number that you provide to us now or in the future and permits such communication regardless of their purpose.
Yes I consent to receive marketing text messages
If checked, you consent to receiving texts including marketing and promotional communications, from . Messages and data rates may apply. Message frequency varies. To opt out of text messages, reply STOP. Your consent is not required as a condition of any purchase. By continuing, you also agree to our Terms & Conditions and Privacy Policy
Are you buying or selling a home?
Buying
Selling
Both
When are you planning on buying a new home?
1-3 Mo
3-6 Mo
6+ Mo
Are you pre-approved for a mortgage?
Yes
No
Using Cash
Would you like to schedule a consultation now?
Yes
No
When would you like us to call?
Thanks! We’ll give you a call as soon as possible.
When are you planning on selling your home?
1-3 Mo
3-6 Mo
6+ Mo
Would you like to schedule a consultation or see your home value?
Schedule Consultation
My Home Value
Please confirm your property details:
Sorry, we couldn’t find ''
Please check the spelling, try clearing the search box, or try reformatting to match these examples:
Address: '123 Main St, Anytown' Neighborhood: 'Downtown' Zip: '98115' City: 'Anytown' or 'Anytown, State/Province' MLS number: 'MLS# 38065544'
