Archive for June, 2010

Frequently Asked Questions from Home Buyers in Langley, White Rock and Surrey, by Andrew Szalontai, Real Estate Expert in Langley, White Rock and Surrey

Saturday, June 5th, 2010

If you are like many individuals in Langley, White Rock and Surrey that are looking for a great deal on real estate, then you may have a few questions about the Langley, White Rock and Surrey market. There are a lot of homes for sale in Langley, White Rock and Surrey and there is no doubt that there are great deals being made on a daily basis. Here a few common questions answered that will help you find the perfect home of your dreams.

Can I Get a Loan?
It all depends on your current financial situation and your credit score. If you have had problems with debt in the past, it may or may not affect your ability to get a loan for a Langley, White Rock and Surrey home. You will need to get a credit report for you and your spouse if applicable and talk to a loan manager in Langley, White Rock and Surrey. He will look at your financial history and your present income. Sometimes you may not think that you can qualify for a loan and yet walk away from the interview pleasantly surprised!

Do I Need to Use a Real Estate Agent?
Yes, unless you want to end up driving around in circles looking at homes that aren’t worth your time. A real estate agent will help you narrow down your choices so you don’t have to waste any valuable time and energy. You will also have a professional in the field that can negotiate on your behalf to get the best price.

Can I afford it?
It is best for you to work with your financial advisor and Langley, White Rock and Surrey real estate agent to help you determine a realistic purchase price that fits into your monthly budget. When this is established you can start your search with confidence and the security of knowing what you really can afford.

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.mylangleyrealestate.com or 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@mylangleyrealestate.com .

Sell Your Home for Maximum Profit with Tricks the Home Stagers Use, by Andrew Szalontai, Langley, White Rock and Surrey Real Estate Expert

Saturday, June 5th, 2010

Professional home stagers incorporate interior design principles to transform your home into a warm and beautiful showplace. Home stagers sell more than property, they sell a lifestyle. Their goal is to create an atmosphere with emotional appeal. You want the buyer to imagine their family living in the home.

Below are some tricks the professional home stagers use to make your home more desirable than the competition. If you want to hire a professional home stager, contact me, Andrew Szalontai, Remax Treeland Realty, for a referral. I can be reached at 778.862.5542 or e-mail at andrew@yourperfecthome.ca.

»  Remove clutter from your home. Think, ‘less is more’ and store or get rid of anything you haven’t used in three months or more.

» Remove personal items from the buyer’s eye. Think of it as getting a head start on packing. Put away framed photos of relatives and other family related items.

» Put items through the ’stranger test’ Ask yourself if a stranger would be interested or use this item. If the answer is no, pack it away.

» Make sure your furniture is arranged logically and that there is plenty of room to walk around.

» Create a vignette. Simply group a few small pieces of furniture together to make a unified grouping.

» Display your best accessories in odd numbered groupings. Keep the number of items to 1, 3 or 5 pieces.

» Keep your fabrics neutral. If curtains and bedspreads are too bold to appeal to the masses, consider replacing them with a more neutral alternative.

    » Clear off surfaces, especially in the kitchen. Put out a fruit bowl or other colorful accessory, but don’t over do it. Keep the counters clean and clutter-free.

    » Make your kitchen cabinets shine like new with a little orange oil. Consider changing out old cabinet hardware with updated knobs and pulls.

    » Clear off the refrigerator. Remove magnets and children’s art. Nothing should be attached to the refrigerator.

    » Spruce up your bathrooms. Set out a basket with a few rolled up towels and fancy bath products. Leave out a dish containing a few fancy soaps.

    » Don’t forget the outside of your home. In order to get the buyer into your home you need to have an inviting yard and front entrance. Make sure the lawn is mowed and the front entrance is clean. Get rid of weeds and webs. Display a few potted plants and flowers in the front yard.

    » The back yard should look like you are about to have guests over. Consider creating an outdoor eating area with a picnic table. Set the table with colorful outdoor dishes.

      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 at www.mylangleyrealestate.com or 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 .

      Average Housing Prices in May

      Saturday, June 5th, 2010

      RESIDENTIAL DETACHED

      N.Delta

      Surrey

      W.Rock

      Langley

      Abbots

      May ‘10

      $517,083

      $545,003

      $887,347

      $532,296

      $459,734

      Apr ‘10

      $526,944

      $539,018

      $859,663

      $521,762

      $471,695

      change

      -1.90%

      1.10%

      3.20%

      2.0%

      -2.50%

      May ‘09

      $480,119

      $496,593

      $688,918

      $484,167

      $443,978

      change

      7.70%

      9.70%

      28.80%

      9.90%

      3.50%

      TOWNHOUSES

      N.Delta

      Surrey

      W.Rock

      Langley

      Abbots

      May ‘10

      $324,475

      $327,204

      $456,175

      $332,249

      $278,873

      Apr ‘10

      $251,666

      $326,808

      $505,017

      $334,640

      $294,508

      change

      28.90%

      0.10%

      -9.70%

      -0.70%

      -5.30%

      May ‘09

      352,842

      $299,606

      $393,577

      $289,027

      $252,553

      change

      -8.0%

      9.20%

      15.90%

      15.0%

      10.40%

      APARTMENTS

      N.Delta

      Surrey

      W.Rock

      Langley

      Abbots

      May ‘10

      $168,475

      $223,125

      $316,445

      $224,826

      $178,310

      Apr ‘10

      $249,647

      $225,646

      $294,470

      $216,521

      $172,996

      change

      -32.50%

      -1.10%

      7.50%

      3.80%

      3.10%

      May ‘09

      $207,500

      $207,974

      $297,401

      $206,364

      $180,516

      change

      -18.80%

      7.30%

      6.40%

      8.90%

      -1.20%

      May market offers buyers greater selection

      Saturday, June 5th, 2010

      VANCOUVER, B.C. – June 4, 2010 – The number of properties listed for sale in Greater Vancouver continued to rise in May, while the number of sales showed a year-over-year decrease.

      The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 3,156 in May 2010, a decline of 10.4 per cent compared to the 3,524 sales in May 2009; 5.1 per cent more than the 3,002 sales in May 2008; and 27.1 per cent less than the 4,331 sales in May 2007. May 2010 sales also represent a 10.1 per cent decline compared to last month’s sales.

      In terms of number of property listings, last month marked the third consecutive month during which more than 7,000 homes were listed for sale on the Multiple Listing Service (MLS®) in Greater Vancouver.

      New listings for detached, attached and apartment properties totalled 7,014 in May 2010, a 48.2 per cent increase compared to May 2009 when 4,733 new units were listed, and an 8.3 per cent decline compared to April 2010 when 7,648 properties were added to the MLS®.

      At 17,492, the total number of property listings on the MLS® increased 10 per cent in May compared to last month, and is up 28.2 per cent compared to this time last year.

      “Prospective home buyers in today’s market have a broad selection to choose from in every property type. REALTORS ® are telling us they’re working with buyers who are not feeling as rushed to make a decision as they did late last year and earlier in the year,” Jake Moldowan, REBGV president said.

      Over the last 12 months, the overall MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 16.7 per cent to $590,662 from $506,201 in May 2009.

      “It’s important for those looking to buy or sell a home to remember that real estate is local and wise real estate decisions are made by those who understand current market conditions at the neighbourhood level,” Moldowan said.

      Sales of detached properties in May 2010 reached 1,256, a decrease of 10.4 per cent from the 1,402 detached sales recorded in May 2009 and a 4.4 per cent increase from the 1,203 units sold in May 2008. The benchmark price for detached properties increased 19.1 per cent from May 2009 to $810,175.

      Sales of apartment properties reached 1,354 in May 2010, a decline of 7.1 per cent compared to the 1,458 sales in May 2009 and an increase of 8.8 per cent compared to the 1,244 sales in May 2008.The benchmark price of an apartment property increased 13.9 per cent from May 2009 to $398,783.

      Attached property sales in May 2010 totalled 546, a decline of 17.8 per cent compared to the 664 sales in May 2009 and a 1.6 per cent decline from the 555 attached properties sold in May 2008. The benchmark price of an attached unit increased 14.8 per cent between May 2009 and 2010 to $500,339.

      Fraser Valley buyers enjoy abundant selection

      Saturday, June 5th, 2010

      For immediate release: June 2, 2010

      (Surrey, BC) – Property buyers continued to see an increase in selection while sellers faced more competition as listings grew and sales decreased on Fraser Valley’s Multiple Listing Service® (MLS®) in May.

      The Fraser Valley Real Estate Board posted 1,477 sales in May, a decrease of 2 per cent compared to the 1,501 sales processed on the MLS® during May 2009. At the same time, the Board received 3,457 new listings, taking the number of active listings to 11,411, an increase of 14 per cent compared to the 10,047 listings available during May of last year.

      Deanna Horn, president of the Board, puts the numbers into context. “May’s sales were 16 per cent below our ten-year average, 1,760 sales for that month. Considering how busy the market has been in the last decade that represents solid sales activity, slower yes, but steady.”

      “What’s changed most is the increase in inventory. The last time this many homes were available on Fraser Valley’s MLS® in May was in 1995.”

      Horn adds, “Tremendous selection allows buyers the luxury to find the right home, comparison shop and gives their REALTORS® the ability to negotiate hard on their behalf.”

      “For sellers, getting specific advice about home values in your local neighbourhood is crucial in a competitive market.”

      In May, the benchmark price for Fraser Valley detached homes was $515,375, a 10.6 per cent increase compared to $465,939 in May 2009. The average number of days to sell a detached home in May was 43 days, one day faster than it was in May of last year.

      The benchmark price of Fraser Valley townhouses in May was $328,295, a 10.1 per cent increase compared to $298,308 in May 2009. Townhomes in May sold on average 27 days faster than they did a year ago – 39 days compared to 66 days in 2009.

      The benchmark price of apartments increased by 8.6 per cent year-over-year going from $232,170 in May 2009 to $252,221 in May 2010. The average days to sell in May for apartments in the Fraser Valley was 51 compared to 69 days during the same month last year.