Monday, August 8, 2022 / by Ray Lumenario
SURREY, BC – The Fraser Valley real estate market saw sales fall again in July in the face of continued interest rate hikes, as the government struggles to bring inflation under control.
In July, the Fraser Valley Real Estate Board (FVREB) processed 993 sales on its Multiple Listing Service® (MLS®), a decrease of 22.5 per cent from the previous month and a 50.5 per cent drop compared to July 2021, when the province was still in acute pandemic mode. July new listings totaled 2,385, a 28.4 per cent decrease compared to
June and a decrease of 1.9 per cent compared to July 2021.
Across the Fraser Valley in July, the average number of days to sell a single-family detached home was 24 and a townhome was 19 days. Apartments took, on average, 21 days to sell. ...
Thursday, March 3, 2022 / by Sonny Bhinder
When it comes to buying a house, we all know that a mortgage is what takes most of our salary: Although these are the highest costs, renting is far from the only cost of owning a home. There are different types of small things that increase small costs, small costs that end in big ones.
Property Taxes: In the simplest terms, property tax is imposed on property that is owned either on a group or individual basis. This is usually directly related to the price of the property In most cases, property owners pay property tax every year.
Property Insurance: We have health insurance, we have car insurance, and if we have a house, we must have property insurance. Like health and car insurance, real estate insurance insures your home against catastrophic events caused by Mother Nature or bad human behaviour. Property insurance can take different forms to cover different risks. These may include fire insurance, flood insurance, earthquake insurance and storm insurance.Home Associat ...
Thursday, January 6, 2022 / by Ray Lumenario
SURREY, BC – Fueled by the consumer response to the COVID-19 pandemic along with historically low interest rates, total property sales in the Fraser Valley in 2021 shattered the previous annual record last set in 2016.
The FVREB processed 27,692 sales its Multiple Listing Service® (MLS®) in 2021, an increase of 39.0 per cent compared 19,926 sales in 2020; and 15.5 per cent higher than 2016’s 23,974 sales. ...
Friday, December 3, 2021 / by Ray Lumenario
The Board received 2,096 new listings in November, a 4.2 per cent decrease compared to October’s intake and a decrease of 5.5 per cent compared to the 2,217 new listings received during the same month last year. The 10-year average for November new listings is 1,948, so last month finished slightly above normal levels.
Wednesday, November 17, 2021 / by Ray Lumenario