Langley BC Real Estate | Condominums And Town Homes

Investing in Real Estate can be a great way to build wealth. Of course, like any investment, there are pros and cons. To invest in real estate requires a time commitment and a bit of risk. However, the rewards can be great, according to real estate expert, Andrew Szalontai, of Remax Treeland Realty.

Real estate is not a “get rich quick” scheme. With careful research and investment overtime real estate can appreciate in value and bring the owner profit. Many real estate investors use the equity gained in previous investments to purchase more real estate over time, which further builds their portfolio and overall wealth.

Some properties are better suited for real estate investing than others. The best way to find properties to invest in is to work with a real estate agent that specializes in real estate investing in the Langley, White Rock and Surrey area. A savvy first time buyer can become a real estate investor with the right property. A well chosen first house can appreciate after several years. Rather than selling that first house, a first time homeowner can use the equity to purchase a second home to live in and rent out the first house. This cycle can go on and on in which case the homeowner becomes landlord as they build real estate wealth.

Another way to build wealth through real estate is with multi-unit housing such as duplex and triplex units. The benefit of starting out with a multi-unit house is the other unit(s) can help pay the mortgage costs for the homeowner. This in turn will accelerate the build up of capital to buy the next piece of real estate. At that point the home ownerÕs unit can be rented out and the homeowner can move into their dream house. Throughout the process of investing in real estate, a professional real estate agent is an invaluable asset to the investor. Agents and brokers know the market and trends and can help the investor choose the best areas to purchase real estate in the Langley, White Rock and Surrey area.

There is a lot of free information available to you about buying, selling or investing in Langley, White Rock and Surrey real estate. For complete information about the Langley, White Rock and Surrey real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to Langley, White Rock and Surrey real estate at www.yourperfecthome.ca . Please feel free to contact me with any of your real estate or mortgage related questions and I will be more than glad to answer your questions. Call me on my cell at 778.862.5542 or email me at andrew@yourperfecthome.ca .

Most first-time sellers in Langley, White Rock and Surrey aren’t aware of the basic principles of selling a home fast. While your real estate agent will brief you on these tips, it is a good idea to look them over again so that you are always prepared for a viewing.

#1 - Make your home welcoming
If you have to be there for the viewing then you should have a smile on your face and make the potential Langley, White Rock and Surrey buyer feel welcome. Smile and be happy even if you are in a rotten mood. This is a business transaction, and the better the buyer feels about stepping into the home the more chance there is that he will consider it for a purchase in Langley, White Rock or Surrey.

#2 - Keep it clean
This may seem quite obvious, but as time goes by and the house hasn’t sold, you need to remember on a daily basis to keep it as clean as possible. It can be quite difficult if you have little children running around the house, but do your best. You may want to hire a maid service in Langley, White Rock or Surrey to come on a weekly basis to keep your Langley, White Rock or Surrey house shiny while you are in the midst of selling.

#3 - Keep it smelling fresh
Try to keep your Langley, White Rock or Surrey house smelling fresh. You may want to burn some pot-pourri, which emits a soft subtle fragrance into the air. You can do this at various times during the day so that you are always ready for a surprise viewing.

#4 - Keep your house tidy
Always remember to pick up things as you use them especially while your house is on the Langley, White Rock and Surrey market. It only takes a few things out of order to make the house seem messy.

#5 - Be honest
If the potential buyers ask you any questions about problems in your Langley, White Rock or Surrey house don’t try and cover up. Answer their questions as honestly as you can. It will be appreciated. Even a freshly built home will have minor problems associated with it, and viewers expect your Langley, White Rock or Surrey home to have a few minor problems as well.

These five tips can help you sell your Langley, White Rock or Surrey home much more quickly. Although they are quite simple and basic, you might be surprised at just how often they are overlooked by the seller.

If you need more free information about selling, buying or investing in Langley, White Rock and Surrey real estate feel free to contact Andrew Szalontai. For complete information about the Langley, White Rock and Surrey real estate market, including the most recent homes for sale, current property values and more, please visit the most complete online website dedicated to meeting all of your Langley, White Rock and Surrey real estate needs at www.yourperfecthome.ca . Do not hesitate to contact me anytime with any of your real estate related questions and I will be happy to answer them for you. Call me on my cell at 778.862.5542 or email me at andrew@yourperfecthome.ca .

VANCOUVER, B.C. – November 2, 2009 – Strong demand has led to a steady rise in Greater Vancouver home prices compared to last year.

Over the last 12 months, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 6.8 per cent to $553,702 from $518,668 in October 2008.

“While home prices have been rising in 2009, they have not eclipsed the peaks reached in early 2008,” Scott Russell, Real Estate Board of Greater Vancouver (REBGV) president said. “We’re coming off several months of unseasonably high sales levels, which has allowed for a gradual increase in home values this year,”

The REBGV reports that residential property sales in Greater Vancouver totalled 3,704 in October 2009, an increase of 4.1 per cent from the 3,559 sales recorded in September 2009, and an increase of 171.6 per cent compared to October 2008 when 1,364 sales were recorded. Looking back two years, last month’s sales increased 22.3 per cent compared to October 2007 when 3,028 sales were recorded.

“High confidence and low mortgage rates are continuing to drive the activity we’re seeing in the housing market today,” Russell said.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,977 in October 2009. This represents a 2.3 per cent increase compared to October 2008 when 4,867 new units were listed, and a 13.4 per cent decline compared to September 2009 when 5,764 properties were listed on the Multiple Listing Service® (MLS®) in Greater Vancouver.

At 12,084, the total number of property listings on the MLS® decreased 4.1 per cent in October compared to last month and declined 37 per cent from this time last year.

Sales of detached properties increased 201.6 per cent to 1,487 from the 493 detached sales recorded during the same period in 2008. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties increased 7.7 per cent from October 2008 to $749,808.

Sales of apartment properties in October 2009 increased 148.4 per cent to 1,607, compared to 647sales in October 2008. The benchmark price of an apartment property increased 6.3 per cent from October 2008 to $380,975.

Attached property sales in October 2009 are up 172.3 per cent to 610, compared with the 224 sales in October 2008. The benchmark price of an attached unit increased 4.6 per cent between Octobers 2008 and 2009 to $468,798.

For immediate release: November 3, 2009

(Surrey, BC) - The Fraser Valley Real Estate Board (FVREB) processed 1,704 sales on its Multiple Listing Service (MLS®) in October, an increase of 122 per cent compared to the 768 sales during the same month last year.

“We’ve had a reversal. Last October was unseasonably slow and now this past month was one of the strongest real estate markets we’ve had in the Fraser Valley in the last decade,” said FVREB President,
Paul Penner.

“We continued to see resale buyers from Greater Vancouver and first-time buyers from all over the Lower Mainland taking advantage of competitive interest rates and lower prices in the Fraser Valley.”

Although the MLSLink® Housing Price Index (HPI) benchmark price of all three residential property types combined has increased by 7.4 per cent in the last six months in the Fraser Valley, prices for each property type remain at or below what they were one year ago.

The benchmark price of a detached home in October was $491,128, an increase of 0.4 per cent compared to October 2008, when it was $488,983.

The benchmark price of townhouses decreased 2.1 per cent from $319,160 in October 2008 to $312,339 last month. The benchmark price of apartments also decreased year-over-year by 2.3 per cent, going from $245,635 in October of last year to $240,048 in October 2009.

“We expect to see prices remain competitive in the Fraser Valley,” added Penner. “Even during our unusually busy summer, prices were sensitive to location and property type.”

Although Fraser Valley’s MLS® received 7 per cent more new listings in October than it did in September, the strength in October’s sales reduced overall inventory. In October 2009, Fraser Valley property hunters had 8,807 listings to choose from, compared to 11,715 in October last year – a decrease of 25 per cent.