Archive for February, 2010

Finding the Perfect neighbourhood in Langley, White Rock and Surrey, by Andrew Szalontai, Real Estate Expert in Langley, White Rock and Surrey

Thursday, February 4th, 2010

There is nothing more important when you are looking for the perfect home in Langley, White Rock and Surrey than to find the right neighbourhood. Although it is common to hear the phrase, ‘location, location location’ when discussing real estate, it is very common for the neighbourhood to be a secondary consideration and the home a priority. This can turn out to be very problematic in the long run, and should be addressed right at the beginning of your Langley, White Rock and Surrey house hunting efforts.

Here are a few things you should consider when deciding on a new neighbourhood in Langley, White Rock and Surrey.

#1 - Does it have a school nearby?
Nowadays this is a very important consideration when you have children. If you are at all concerned about their safety if they have to walk a fair distance to get to school then you should look for a neighbourhood with one or more schools situated close to the home.

#2 - Is it a safe neighbourhood?
Sometimes looks can be very deceiving. It is quite common to find a beautiful residential neighbourhood that has been targeted for theft by local criminals. Your real estate agent can let you know how to get access to criminal statistics for different neighbourhoods in Langley, White Rock and Surrey.

#3 - Is there a community center in the area?
Most neighbourhoods in Langley, White Rock and Surrey do have a community center in the area, but some do not. In addition, some neighbourhoods are very large and the community center can be located at the other end of it.

#4 - Is there a local church?
Depending on your church affiliation you could find yourself driving to the other end of the city to get to church. If you have close ties with your church you may want to consider staying close to it.

#5 - Is there convenient shopping close by?
If you are like most people these days you probably find yourself running out to purchase necessities quite frequently. You should check and make sure that the shopping nearby offers the kind of shopping you are accustomed to.

These are a few of the most important things you should consider when looking at different neighbourhoods in Langley, White Rock and Surrey, but you should also put together your own list of what you would like to find in the area. Take this list with you when you visit your Langley, White Rock and Surrey real estate agent for the first time and he will be able to properly guide you towards the best neighbourhood in Langley, White Rock and Surrey that will suit your needs.

As a local real estate agent in Langley, White Rock and Surrey I can offer you more free information about the Langley, White Rock and Surrey real estate market, including the most recent homes for sale, current property values and more. Feel free to contact me, Andrew Szalontai, anytime with any of your real estate or mortgage related questions and I will be happy to answer your them for you. You can visit my website at www.yourperfecthome.ca , which offers complete information about the Langley, White Rock and Surrey real estate market. You can also call me on my cell at 778.862.5542 or email me at andrew@yourperfecthome.ca

The Role of the Real Estate Agent when Selling a Home in Langley, White Rock and Surrey, by Andrew Szalontai, Real Estate Expert in Langley, White Rock and Surrey

Thursday, February 4th, 2010

Do you really need a Langley, White Rock and Surrey real estate agent to help you sell your home? After all, other people are doing it themselves, so why can’t you? Well, the truth is that most of the people that are selling their homes in Langley, White Rock and Surrey on their own are losing out on a lot of potential money by not having the guidance and direction of an agent within arm’s reach. Sometimes tens of thousands of dollars.

When you look at the commission your real estate agent will make, versus the profit you can lose, hiring a qualified agent to assist with your sale is a no-brainer. They have been working on behalf of other clients for many years and know from experience what works and what doesn’t when dealing with property sales.

Professional real estate agents are top-notch negotiators that use their expertise to negotiate the best deal possible on your behalf. Using a qualified Langley, White Rock and Surrey agent puts you in the best position when negotiating for the best possible offer on your Langley, White Rock and Surrey house.

Agents also know the tricks of the trades that get homes in Langley, White Rock and Surrey to sell quickly, and for higher amounts. It is possible for one of these Langley, White Rock and Surrey professional agents to come into your home and make a few suggestions that can add up to thousands of dollars in your pocket when the sale is complete.

There are also things that he can point out that can save you a lot of money. Sometimes repairs and paint jobs are put into the home that do not really raise the value of the Langley, White Rock and Surrey property significantly. As with anything, using an experienced advisor can save you time and money in the end. Use your Langley, White Rock and Surrey real estate agent for all he is worth and make more money on your home.

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 everything Langley, White Rock and Surrey real estate. So 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

Average Housing Prices in January

Thursday, February 4th, 2010

RESIDENTIAL DETACHED

N.Delta

Surrey

W.Rock

Langley

Abbots

Jan ‘10

$517,747

$529,441

$842,388

$539,748

$436,651

Dec ‘09

$476,510

$527,267

$948,277

$506,907

$454,338

change

8.70%

0.40%

-11.20%

6.50%

-3.90%

Jan ‘09

$502,286

$482,271

$748,807

$485,360

$405,000

change

3.10%

9.80%

12.50%

11.20%

7.80%

TOWNHOUSES

N.Delta

Surrey

W.Rock

Langley

Abbots

Jan ‘10

$372,500

$311,851

$490,150

$307,722

$255,023

Dec ‘09

$218,000

$323,534

$479,883

$319,358

$259,139

change

70.90%

-3.60%

2.10%

-3.60%

-1.60%

Jan ‘09

-

$313,329

$390,416

$290,118

$238,740

change

n/a

-0.50%

25.50%

6.10%

6.80%

APARTMENTS

N.Delta

Surrey

W.Rock

Langley

Abbots

Jan ‘10

$183,500

$213,007

$278,641

$215,608

$200,015

Dec ‘09

$268,000

$211,712

$319,348

$217,794

$187,219

change

-31.50%

0.60%

-12.70%

-1.0%

6.80%

Jan ‘09

$190,000

$192,454

$283,850

$195,553

$145,260

change

-3.40%

10.70%

-1.80%

10.30%

37.70%

Housing supply and demand reach closer alignment in January

Thursday, February 4th, 2010

VANCOUVER, B.C. – February 2, 2010 – Diverse selection and favourable interest rates continue to drive demand in the Greater Vancouver housing market.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 1,923 in January 2010, an increase of 152.4 per cent compared to January 2009 when 762 sales were recorded and a 23.5 per cent decline compared to the 2,515 sales recorded in December 2009.

In terms of historical perspective, January ranked as an average month for number of residential housing sales over the past decade, with higher sales in January 2002, 2003, 2004, and 2006.

Over the last 12 months, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 17.2 per cent to $573,241 from $489,007 in January 2009. This price is 0.8 per cent above the previous high point in the market in May 2008 when the residential benchmark price sat at $568,411.

“Although home prices in the region have largely returned to their previous peaks, we still see a significant number of first-time and move-up buyers in the market, thanks to low interest rates and the diverse range of properties available today,” Jake Moldowan, REBGV president-elect said.

“There is also closer alignment between supply and demand in today’s housing market. At 18 per cent, the sales-to-active listings ratio in January is approximately 10 per cent lower than we’ve seen in our market over the last six months,” Moldowan said.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,147 in January 2010. This represents a 39.1 per cent increase compared to January 2009 when 3,700 new units were listed, and a 139.1 per cent increase compared to December 2009 when 2,153 properties were listed on the Multiple Listing Service® (MLS®) in Greater Vancouver.

At 10,218, the total number of property listings on the MLS® increased 14 per cent in January compared to last month and declined 26 per cent from this time last year.

“Looking ahead, it’s difficult to know exactly what the Olympic effect will be on our market in February, although I think it’s fair to say it should be a quieter period for home buyers and sellers and so, in fact, may be a good time for motivated buyers to search for properties,” Moldowan said.

In January, sales of detached properties increased 141.4 per cent to 705 from the 292 detached sales recorded during the same period in 2009. The benchmark price, as calculated by the MLSLink® Housing Price Index, for detached properties increased 19.5 per cent from January 2009 to $788,499.

Sales of apartment properties in January 2010 increased 146.8 per cent to 891 compared to 361 sales in January 2009. The benchmark price of an apartment property increased 15.2 per cent from January 2009 to $385,487.

Attached property sales in January 2010 are up 200 per cent to 327, compared with the 109 sales in January 2009. The benchmark price of an attached unit increased 13.4 per cent between January 2009 and 2010 to $482,478.

Active pre-Olympic housing market in the Fraser Valley

Thursday, February 4th, 2010

For immediate release: February 2, 2010

(Surrey, BC) – The Fraser Valley experienced a return to typical home sale levels plus an early surge in new listings in January, according to the latest figures from the Fraser Valley Real Estate Board.

Paul Penner, President of the Board said, “Compared to last January, the market has returned to balance. Consumers continue to take advantage of the affordability created by lower interest rates.”

There were 981 sales processed on FVREB’s Multiple Listing Service® (MLS®) in January, an increase of 152 per cent compared to the same month last year when 389 sales were processed. There was also a 46.8 per cent increase in new listings, 2,941 compared to 2,003 during January last year.

On a month-to-month basis, sales decreased 22 per cent in January compared to December, while new inventory more than doubled, going from 1,453 new listings in December to 2,941 in January. This increased overall inventory by 14 per cent in one month.

Penner added, “If I were house-hunting right now, I’d be pretty excited. There is more selection and potentially less competition over the next few weeks.

“Some buyers will put their house-hunting on hold during the Olympics creating an advantage for those who don’t want to wait.”

While residential benchmark prices, as determined by the MLSLink Housing Price Index (HPI), continued to recover, they remain 3 per cent lower than in spring 2008. The price in January for the three main residential property types combined was $446,671 compared to $460,682 in May 2008.

In one year, the benchmark price for detached homes in the Fraser Valley increased by 10.8 per cent going from $452,145 in January 2009 to $500,931 in January 2010.

The benchmark price of Fraser Valley townhouses in January was $317,719, a 7.6 per cent increase compared to $295,339 in January 2009. The benchmark price of apartments increased by 10.4 per cent year-over-year going from $220,595 in January 2009 to $243,470 in January 2010.