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White Rock & South Surrey Market Update for September 2012

MyRealtyTV.ca — Mon, 15 Oct 2012 08:35:19 -0700

White Rock & South Surrey August 2012 Market Update

MyRealtyTV.ca — Fri, 21 Sep 2012 08:50:35 -0700

Hello and welcome to my August two thousand and twelve My Realty TV Market Update for White Rock and South Surrey! I’m Tony Goering. In July we saw the benchmark price of detached homes move to $879,000 on average,down slightly from June. - We had 46 townhouses sell in July, virtually the same number as last month but 8 more than in July of 2011.
44 condos sold in July, down 10 percent from the month of June, and down 8% from June of last year. - The sale of single family detached homes in the entire Fraser Valley increased by only 1 per cent in July compared to last year. South Surrey and White Rock experienced the greatest year over year decrease in sales – at 32 per cent, where a typical single family detached home was valued at just under $880,000.
We are seeing a reduction in sales of higher end homes. Last July was one of the busiest on record in South Surrey and White Rock, so the decrease appears sharper. South Surrey/White Rock would normally see about 100 detached homes sell in July and last month 86 sold, keeping the market competitive and prices resilient. - Let me tell you how this affects you. As a buyer, you have a very good selection of single family homes at prices lower than we've seen in recent years. The same goes for townhouses and condos. However, as we look back and follow real estate pricing trends it is advisable to move forward and purchase now as the ideal combination of low rates and low prices will not likely continue for any extended period. If you are thinking of selling, experts are telling us that waiting to sell will likely result in decreased potential for your selling price - in other words, should prices decrease further over the next 8 to 10 months, sellers can expect to sell for less money. Now for your real estate tip of the month:
If you know there are things you need to do to prepare your home for sale, start them now. Touch up those areas that need paint, start to pack away things you haven't used in 6 months or more, and very importantly get advice of a home stager and your realtor on things you should - or should not - do to prepare your home for sale. We're coming up to another busy time in real estate - fall. Be prepared! For My Realty TV, I’m Tony Goering!

White Rock Real Estate Update July 2012

MyRealtyTV.ca — Fri, 17 Aug 2012 07:42:34 -0700

Hello and welcome to my July My Realty TV Market Update for White Rock and South Surrey!I’m Tony Goering. In the last 30 day period we saw twenty-two percent fewer homes sold compared to the same period last year. Both condo and townhouse sales were identical to June of 2011. Townhomes sold for slightly more, while condos continued the downward trend and sold for an average of 6.7 percent less than June of 2011 and 5 percent less than May of this year! There are several factors for us to take into consideration right now so that we can put into perspective where we are in this market, today. Firstly, there are the new mortgage rules to understand. I will be speaking more about that shortly with my mortgage broker, John Charbonneau, and as well I will have complete details of the changes at www.tonygoeringhomes.com. Next, for sellers, there are almost twice as many homes on the market in White Rock and South Surrey as there were this time last year. It is very important for you sellers to meet with a professional realtor so that we can go over exactly what the market is telling us. It's like being in a horse race and a beauty pageant at the same time - you've got to be the first to the finish line AND you've got to stand out above everyone else! If you are a buyer, things are great for you right now! There is so much choice, both for single family homes as well as townhomes and condos. This brings me to my real estate tip of the month after you are pre approved for your financing - get together with your agent and get out and actually look at some properties! Don't wait! There are deals to be had right now. That's your July Real Estate Market update. I'm Tony Goering with Remax Colonial Pacific Realty for my realty tv, we'll see you next month.

White Rock Real Esatate Market Update for June 2012

MyRealtyTV.ca — Mon, 16 Jul 2012 07:59:10 -0700

Hello and welcome to my June two thousand and twelve My Realty TV Market Update for White Rock and South Surrey!I’m Tony Goering. In May we sold 120 detached homes, compared to 213 in may of 2011. That is 44 percent fewer homes sold than last year at this time. townhouse and condo sales remained the same as last year - with a slightly higher number of condos selling. Here's an important statistic for townhome and condo sellers - at present there are 249 townhomes on the market compared to 167 in May of last year, and 420 condos compared to 367 in the same period last year. Prices for single family homes rose 7 percent over last year, while townhouses rose 6 percent and condos dropped one and a half percent.
How does that affect you? Well, buyers are paying slightly more for single family homes, but there are lots of choices out there - almost twice as many homes on the market for you to choose from! Townhomes about equal, and for condos there is a great deal of choice here in South Surrey and White Rock, so this means that it should be easy to find a property that suits your needs! All indications are that it's a great time to buy! Once again, be sure to get pre approved for your mortgage to take advantage of the new low rates!
My tip of the month? For both Buyers and Sellers - it's important to take advantage of your realtor's comprehensive market knowledge - in this changing market and current real estate climate it is essential that you have the expertise of your real estate professional working for you. Once again, whenever you have any questions about the market here in South Surrey and White Rock, just pick up the phone and call me! Have a great day! For My Realty TV, I’m Tony Goering!

White Rock Real Estate Market Update for May 2012

MyRealtyTV.ca — Fri, 15 Jun 2012 08:02:57 -0700

Hello and welcome to my May twothousand and twelve My Realty TV Market Update for White Rock and South Surrey!I’m Tony Goering. The month of April remained virtually unchanged for real estate prices across the board, with the notable exception of townhomes, which had a 3.3 percent increase in the benchmark price over March. We’ve had 102 detached homes sell in April, compared to 190 in April of 2011. That is a 46 percent decrease in homes sold. The benchmark price for single family homes in April was $910,000 to$904,000, virtually unchanged from last year. 42 townhomes sold in April, while 38 sold a year ago last month. Prices of townhomes however are up 3 percent over March. There were 40 condos sold last month, 5 less than in the month of March. Prices for condos remained unchanged. To put this all into perspective for you, it is a great time to buy a house, townhouse or condo. Inverstors are able to buy easily now, and I am working with several first time buyers! Also, it's important to note that lenders are making it more difficult to get mortgages, so be sure to get pre-approved now and get locked into today's interest rates! Oh, don’tmind him, that’s my half brother. He helps out here now and again. Lovelyfellow, really. Here's my real estate tip of the month: I've been mentioning de cluttering - well on Saturday May the 26th from 9am to 4pm we are having our second annual Yard Sale For The Cure to raise money for breast cancer research. It's held at my office, RE/MAX Colonial Pacific Realty on 24th Avenue at 154th Street in South Surrey. Call me to arrange delivery of all your gently used items! Declutter, and help fight cancer! As well, we'll have food, music, entertainment, and quite possibly some superstar athletes dropping by! I look forward to seeing you! For My Realty TV, I’m Tony Goering!

Burnaby South Real Estate Market Update for April 2012

MyRealtyTV.ca — Tue, 22 May 2012 09:25:54 -0700

My name is Keenan Neilly with Coldwell Westburn Realty. Welcome to my April 2012 realestate market update for south and east Burnaby. Sales volume for all categories of homes in March 2012 compared to the last year has declined considerably for detached and townhomes as buyers and sellers search for some common ground. I suspect that this trend may reverse as listings increase and buyers become more active in pursuit of these improving buying opportunities. The time to buy is still now as interest rates remain at record low levels and prices are becoming more affordable. The following statistics are for March 2012 and are compared and compared with the same period in 2011. Detached prices decreased by 1% to an average of $932,000.00 Townhomes prices decreased 5% to an average of $ 456,000.00 while apartments prices increased by 6% to an average of $ 388,000.00.
The number of detached homes sales decreased by 43 % to 50 homes; Townhome sales decreased by 50% to 25 sales and apartments decreased by 27% to 50 sales.
The average time on the market for detached properties increased by 1% to 30 days, townhomes also took longer to sell by 48% to 40 days and the time on the market for apartments sales was also longer by 15% to 37 days..
If you are looking to get more current on what your home may sell for and how to maximize its value in today’s market please and call or send us an email. Our marketing and negotiating systems are designed to help you achieve the most money in the shortest period of time. If you are a buyer and need the resources and know how to help you navigate through the buying process our services are there to help you find the best match for your needs at the absolute best price.
Thanks for taking the time with me today to review the real estate market for south and east Burnaby for March 2012.. For My Realty TV.ca- I am Keenan Neilly.

Surrey North Real Estate Market Update for April

MyRealtyTV.ca — Tue, 22 May 2012 09:21:31 -0700

Hi I’m Julie Fairhurst from Royal LePage Northstar Realty and I’m here to give you an update on the real estate market for the North Surrey area. North Surrey is a very large area and consists of several sub-areas. Bolivar Heights is a great area, close to the City Centre. The area has many single family homes that run along the Fraser River. You won’t find many condos or town homes in Bolivar Heights.
Bridgeview one of the most affordable areas to purchase. If you are into renovating, this is a great area. Many of the homes are older with, some new homes are now starting to be built. in the. Cedar Hills is very desirable right now. Depending on what you’re looking for, single family homes in the area are selling within days with multiple offers come in.
Fraser Heights, one of Surreys most expensive neighbourhoods. You can find homes in Fraser Heights well over a million dollars. Guildford is well known, with direct access from Highway One. A strong mixture of single family homes, condos and town homes can be found in Guildford.
Port Kells was years ago a single family area, but more recently has become industrial. You’ll still find large farms in the area.
Royal Heights has wonderful views into New Westminster. You won’t find condos or town homes, it is a single family area with many homes having larger pieces of property. Builders love the area, purchasing the older homes and building very large homes.
The City Centre or Whalley has and is being completely transformed. If you haven’t been out that way in awhile you should have a look. It’s amazing what’s happening and what is coming up.
North Surrey has something for everyone; you should come and take a look. Feel free to give me a call if you have any questions.
For MyRealty TV I’m Julie Fairhurst.

Richmond Real Estate Market Update for March 2012

MyRealtyTV.ca — Tue, 22 May 2012 09:17:48 -0700

Hi and welcome back to my Richmond real estate update. I’m Robyn Anderson, with the Residential Group Realty, serving Richmond. The spring real estate market is beginning to ramp up nicely, although Richmond home sales are not quite as active as they were this time last year.
Looking ahead, I’m expecting a stable market for homes in Richmond, perhaps favouring Buyers a little. Well priced homes should continue to sell and I expect prices to remain quite steady.
As in any market, the balance of supply and demand dictates pricing trends and activity levels, and the first to thing to note in our market is that the supply of housing for sale is lower this year.
In 2011, February saw a total of 847 new listings come on the market; this year we only had 738, a decline of almost 13%. But sales activity – the demand side of the equation – is also lower this year, with 39% fewer homes sold in February than a year ago.
So demand seems to have softened even more than supply, at least for the February numbers. Having said that, there are a lot of very positive indicators for steady real estate prices ahead. The government is predicting that migration into BC will increase in 2012.
All those new people need to find a place to live, giving strength to the demand side of the housing market balance.
Thanks for listening. Be sure to check back regularly for my monthly updates. I’ m Robyn Anderson for my realty tv dot ca.

Tsawwassen Real Estate Update for April 2012

MyRealtyTV.ca — Wed, 16 May 2012 16:22:58 -0700

Thank you for joining me...I'm Todd Jackson and this is your Tsawwassen Market Update for April. Housing inventory of detached homes is currently between 110 & 120 homes...similar to last year. What is different is the sales volume... reasonable in relation to many other areas, but off the pace compared to last year. When you undle it all up, and we continue to have balanced conditions...however, somewhat fragile!The apartment category. Since 2008 our typical monthly supply has been around 30 units to pick from...right now...we have 50...month to month sales have really varied ...however, 13 in the last 30 days also puts us in balanced conditions.
Townhomes....10-15 to pick from every month, and we sell 1-5 depending on the time of year...very typical. We are tracking the housing price index and will give you the 1st quarter analysis on our next segment of the market update..... look forward to seeing you next month.

Burnaby North Real Esate Update for April 2012

MyRealtyTV.ca — Wed, 16 May 2012 16:18:21 -0700

Welcome back and thanks for stopping by for your April real estate market update for Burnaby North. According to the MLS® in North Burnaby, there are currently 677 property listings and that's up slightly from the previous month. With current inventory levels in North Burnaby, we're seeing about 3 sales for every 5 listings which is also similar to the previous month.
In March, we saw 321 new property listings with 147 sales. That's just under 50% sales to new listings or 1 sale for every 2 new listings. Again, this is very similar to the previous month of March.
Compared to last year at this time, activity seems to be a little bit slower. In the last little while, there was a small window of opportunity for buyers to take advantage of 5 year fixed mortgages for under 3% from more than one lender. This should help boost real estate market activity in the next 2-3 months. It does look like we are experiencing traditional real estate market conditions as we move further into spring. From the middle of March towards the end of March, we have seen more properties starting to sell with a few more accepted offers and even a few multiple offers. It all comes down to supply and demand, product category, availability, neighborhood location and price which will determine increased property values or price stability in North Burnaby because at the moment, we are seeing both in various product categories.
I'm Brian Vidas with Sutton Centre Realty bringing you up to date for my realty tv dot ca. We'll see you next month

Port Moody Real Esate Update for April 2012

MyRealtyTV.ca — Wed, 16 May 2012 16:14:16 -0700

Hi I’m Bruce Hendriks with Prudential Sterling Realty here today with your Port Moody update for April 2012

Now let’s take a look at detached homes, you know I was looking at the 17 homes that have sold over the last thirty days or so and I noticed that 16 of them sold for fewer than one million dollars. There are 215 detached homes on the market. Of those, 63 are priced over a million and 54 under a million. Now think about it, of the 63 over a million only one sold in the last thirty days, the 54 homes priced under a million 16 sold. Now that is the market correction we are looking for. Buyers’ setting the standard of buying what is worth buying and leaving the rest to sit.

Ok now let’s have two home improvement tips for when you are preparing your home for sale. The first one is electrical outlets. The old style outlets with paint on them and they look the age of the home. Well for about four bucks a plug you can switch out the guts and the cover plate and it looks like a million bucks, especially with a paint job.

Number two tip, if you have a home with those old metal heat registers that sit in the floor of your home. I mean they are solid, I wouldn’t want to get hit over the head with one, but they look the age of the house like the electrical outlets. Well take them down to the garage and clean them up with a wire brush and some sand paper and then get a spray can of flat black enamel and spray them. They go from old solid and ugly to sleek black and new.

That is all we have for today, I’m Bruce Hendriks with Prudential Sterling Realty and My Realty TV.CA, thanks for watching.

Coquitlam Real Esate Update for April 2012

MyRealtyTV.ca — Wed, 16 May 2012 16:09:39 -0700

Hello, I'm Louise Hendriks, licensed realtor with RE/MAX Central.
Welcome to my market update for Coquitlam BC. Well April is looking like a great month in Real Estate here in Coquitlam.
Detached Home listing inventory to sales levels are up 26% in March, compared to 18% this time last year and it's continuing to rise. Indeed a strong sellers market for houses and prices are increasing. According to the Home Price Index, prices for detached homes came up just over $41,000 in the last year, bringing the average price of a house to just over $725,000. Anyone interested in selling, needs to get on the market soon before they miss out. More real estate is sold this time of year than any other time. Coquitlam Townhouses and Condos are experiencing a stable market with record listing inventory, a 14% sold rate and a 98% sell to list ratio. Westwood Plateau, N. Coquitlam and Coquitlam West are leading the way so far and generally are taking 32 days on the market.
According to the Home Price Index, Condo prices have gone up just over $10,000 in the last year. An average price of a condo is just over $304,000; while townhouses have gone up almost $37,000 this year, and average just under $480,000.
Overall, new listings for attached homes well exceed the sales meaning we still have a buyers market for townhouses and condos. Buyers still have a lot of sellection and several of the new developments are offering all kinds of incentives to people ready to make a move.
The market is on the rise in Coquitlam - so hold onto your hats we're in for a ride. This is Louise Hendriks, RE/MAX Central, see you next month for my Coquitlam Market Update for my realty tv dot ca.

Langley Real Estate Update April 2012

MyRealtyTV.ca — Mon, 14 May 2012 09:03:31 -0700

Welcome to my Realty tv dot ca. I’m Melissa Wilson and I’m Jessica Shaw. We’re with RE/MAX Treeland Realty in Langley, and we would like to give you our monthly market update for the Langley area. The market has been quieter than usual for the time of year, but still steady with an increase in demand for affordable properties, such as townhomes and detached homes under a price of $500,000. Single-family homes represented 63% of our residential market last year, this year dropping to 56%, so we are seeing demand for more affordable options. Therefore, we experienced a decrease in sales of detached homes, especially those priced at the higher-end, however we did experience an increase in the sale of townhomes. In terms of new listings received, we saw a decrease of 9% compared to the same time last year. The average number of days it took to sell a detached home was 46, which was one day faster than last year. It took 49 days to sell a townhouse and 58 days to sell an apartment. We have also seen more action in regards to acreage properties, in the fact that there is more movement of product. This is great news as the market for acreage took a bit of a dip in the past couple years.If you would like more information on the real estate market, call The Wilson Team. Thanks for tuning in to My Realty TV Dot CA, see you next time!

New Westminster Real Estate Update for April 2012

MyRealtyTV.ca — Mon, 14 May 2012 08:59:49 -0700

HI, I’m Dianne Moscrip, realtor here in the Royal City, New Westminster, and here’s your my realty tv dot ca New Westminster real estate market update for April 2012. What’s new in New West right now? March seemed to slow down quite a bit for condos and your property had to be aggressively priced in order to bring in an offer. Houses are moving very fast and are still experiencing multiple offers and are selling for higher than the asking price in most cases. Here’s some New West stats for you: Right now, there are 94 active listings for houses, and 481 condos/townhouses available for purchase. The average list price for houses is $808k, up a bit from last month’s average of $807k, and for condos it’s $320k, down quite a bit from last month’s average of $349k. The average time on market for houses is 36 days, and for condos it’s 45 and that hasn’t changed since last month. So far this year there have been 303 houses sold, and 916 condos sold. Last year at this time, there were 969 sold! As for inventory, right now, for houses, they are sitting at a four months level of inventory making it a seller’s market for houses. But condos/townhomes are sitting at seven and a quarter months of inventory available for purchase, and this means we’re remaining at a buyer’s market for condos and our inventory for condos is increasing since last month. Last month’s inventory was 6 ½ months . It’s not looking good for condos right now! The overall year-to-year appreciation is still weighing in at just over 1.10% for houses and 1.02% for condos and townhomes.
There you go….that’s your New Westminster my realty tv dot ca update for April 2012. Call me if you have any questions or better yet, come out to New West for a visit and let me show you around. I’m Dianne Moscrip, your New Westminster real estate specialist. See you next month!

Central Surrey Real Estate Update April 2012

MyRealtyTV.ca — Mon, 14 May 2012 08:56:54 -0700

Hello, my name is Claude of TeamClaude-Re/max. We, are the real estate experts for the Central Surrey area. This is my April 2012 market report.
We saw quite a dip in sales for the month of March. If you compare March of this year with march 2011, sales dropped over 20%. In central Surrey single family homes sales are down 23% in March while townhouses are down 7% and condos minus 37%. We also noticed a considerable drop in sales in the high end market. Like we said last month, we didn’t get that big push from the Asian buyers like we did the previous year. We are however, seeing the market changing for the better as we look at April figures. So far this month the numbers are almost identical to last year’s sales for April .. It could well be that the government incentive programs for first time buyers like the $10,000 grant is starting to kick in. Let’s face it, with prices stable, low interest rates, and government incentives this is the best time ever to make that move into your first home. If you need help or guidance to take that first step…. Call us anytime at 604-590-4888 and ask for Laura, Dal, Brent or myself, Claude. We will be happy to help. On behalf of TEAMCLAUDE and MY REALTY TV Dot CA. Thank you, and we will see you next month

Ladner April 2012 Real Estate Market Update

MyRealtyTV.ca — Mon, 14 May 2012 08:53:49 -0700

Hello and welcome to your April update for Ladner, the total number of properties for sale has increased since the beginning of the year, giving the Buyers more inventory to choose from. There is a relative balance between the number of homes for sale and demand in the marketplace. The average selling price for Ladner is $699 ,000 with 66 sales year to date , the average length of time on the market is 39 days for detached and 67 days for condominiums . Ladner remains an affordable area, when compared to the average selling price in Vancouver of $1. 0 mil. The price for an entry level home in Ladner is approximately $550,000, these home may need some TLC with a lot size varying between 6-7000 sq.ft. April continues with multiple offers on well priced properties, both detached and attached, the Spring market is here, if you are thinking about selling now is the time to meet with your Realtor. Spring is here and the weather brings the Buyers out to your neighbourhood. When getting ready to show your home, make sure your windows and window screens have been washed, your gutters have been cleaned, and your flowers fertilized, also ensure you have some seasonal flowers at your front door-you never get a second chance to make a first impression! I'm Aileen Nogeur with Remax ProGroup in Ladner for My Realty TV Dot CA.

April 2012 Downtown Vancouver Real Estate Update

MyRealtyTV.ca — Mon, 14 May 2012 08:51:23 -0700

Welcome to the monthly real estate update covering the March market for Downtown Vancouver. Our March 2012 sales in Greater Vancouver were the second lowest total for the month in the region since 2002. Currently still sitting at just over 1200 attached listing for the Downtown Vancouver market with around 224 MLS sales recorded for March. Benchmark detached single family homes $2,250100 a 16.5% increase from this time last year, apartment/condo $472.400, a 1.2% increase and townhomes $704.900, a 2% increase from this time last year. There have been many condo pre-sales taking place in the Downtown Vancouver market over the last 30 days with TELUS GARDENS being one of the newest and highly anticipated buildings to hit the market, with approximately 450 residential units and a 22 story office tower with an estimated completion date of 2015. This beautiful development will be located at 520 West Georgia, and will encompass an area bounded from Georgia, Robson, Seymour and Richards. There will be amazing amenities which include heated outdoor pool, outdoor terrace, gym, dog park, YYoga Wellness centre and 24hr concierge. As well, this development will be a LEED Plautimun and LEED Gold building.Thank you for joining me once again, I am Niko Lambrinoudis, for My Realty Tv, Enjoy your Day!

April 2012 Cloverdate Real Estate Market Update

MyRealtyTV.ca — Mon, 14 May 2012 08:44:23 -0700

Hi I’m Kara with The Bettina Reid Group and Homelife Benchmark Realty, welcome to the
Cloverdale real estate market update for April 2012.
Slow and steady wins the race … Well at least that seems to be the case for the start of April.
There is a similar number of homes on the market compared to March however to date the
sales have started to stall in the Cloverdale area. It will be interesting to see what month end will bring because we are experiencing an increase in action with buyers contacting us. We receive calls and emails daily inquiring about properties. Even with buyers on the hunt for their future home it has been a slow start in comparison to the usual spring frenzy. This may be in part due to the cooler weather we are having or buyers awareness of the current state of the market. Either way it becomes another indicator to future sellers that it is important to make sure your home has been priced correctly and is inline with current market values. Even in a slow market if your home has been evaluated correctly and hits the public with the right price, you as a seller will likely beat out other homes bidding for the same buyers. Having recently gone through the purchasing process myself and having looked at over 40+ homes I can honestly tell you when the property is priced right it doesn't last long. Of course there are many other factors that can come into play but from my experience even the difference of 500.00 on your list price could significantly impact your potential for an offer. The good news is we are here to help with all that number crunching stuff. So if you have any questions on the Cloverdale market or would like a home evaluation, please feel free to give us a call we are happy to help!
Until next time, I’m Kara Berman with the Bettina Reid Group and Homelife Benchmark Realty and that is your Cloverdale market update for my realty tv dot ca.

North Delta Real Estate Update for April 2012

MyRealtyTV.ca — Mon, 14 May 2012 08:31:03 -0700

Spring is slowly creeping our way into the North Delta Market. Hi, I’m Sheri Brown with RE/MAX Performance Realty here with your April update. In North Delta there was a total of 55 sales in the month of March. The benchmark price last year at this time was $502,000 and this year it’s gone up to $520,100. The lowest priced home sold for $360 thousand; this was a small rancher in the Nordel area. The highest priced home sold for $790 thousand in the Scottsdale area. Currently there are 185 homes for sale in North Delta. You can find homes starting at $379 thousand to 1.5 million. Overall, prices are up, there are more listings this year than the same time last year and sales are down. If you are thinking of an attached condo or townhomes you have a limited amount of product, yet a wide range of pricing. Starting at 108,000 for a one bedroom in an older building in North Delta all the way to 630,000 for a luxury townhome. It is a great time of year to come and explore fabulous North Delta. The flowers are coming out…Burns Bog is upgrading some of their walkways with new grating and the watershed park is always a great place to take the family on a Saturday afternoon. Coming up in June we also have our annual Delta Days Parade. If you have any questions about North Delta or Real Estate don’t hesitate to call or email me. I’m Sheri Brown for My Realty Tv dot com

White Rock Real Estate Market Update for April 2012

MyRealtyTV.ca — Fri, 11 May 2012 16:53:52 -0700

Hello and welcome to your April two thousand and twelve My Realty TV Market Update for White Rock and South Surrey! I’m Tony Goering. March has been a quieter month than in the past few years.
We’ve had 103 detached homes sell in March, compared to 249 last March, in 2011. That is over a 27 percent decrease in homes sold, but we’ve had an increase in the benchmark price from $792,000 to $904,000, an increase of 14 percent.
When I use the term benchmark, the Benchmark property price definitions describe typical properties in a given market area, in this case White Rock and South Surrey. 38 townhomes sold in March, while 44 sold a year ago last month, a decrease of 14 percent in actual sales. Prices of townhomes however are up 4 percent over March of last year. And, we sold 45 condos last month, while in March 2011 there were 59 sold, a decrease in sales of 24 percent here in White Rock and South Surrey. Prices for condos actually went up almost 3 percent overall from March of last year.
Now, how does this affect you, the buyer? And, you, the seller? Well, first of all, for buyers, there has never been a better time to get a mortgage. Rates are unlike any in the last 50 years and more. There are currently rates as low as 2.89 percent for a 5 year fixed rate mortgage – absolutely astounding! Now we know this cannot last, so, I’m giving you my real estate tip of the month right now – get your pre approval today! You can get locked in to this low rate for up to 4 months! No cost, no obligation! So, even if you’re just thinking of buying, do yourself and your budget a huge favour! Buyers, there ARE deals out there.
And for you sellers, if you’ve been wondering whether now is the time to put your house on the market, the answer is yes! As long as your house is priced at current market values there are buyers out there! So, as thoughts turn to warmer weather, and sunny days, be sure to get out and enjoy our beautiful province of BC! Walk, as I do every day! If you have any questions about this market update, please don’t hesitate to call me! As I am recording this the day before Good Friday, I would like to take this opportunity to wish you and your families a very Happy Easter! For My Realty TV, I’m Tony Goering!