93 8068 207 Street. Welcome to the POPULAR Yorkson Creek South in the heart of Willoughby! This unit is in SHOW HOME condition, featuring LUXURY high end finishings that you don’t see in townhomes anymore. Including all GRANITE counters in bathrooms & kitchen, organizers in all the closets, solid wood soft close cabinets, GAS stove, high-end HARDWOOD flooring, Pantry + BONUS powder on the main. Upstairs Master has VAULTED ceilings, new A/C unit, walk in closet, ensuite w/heated floors, a fog-free mirror, and a rain shower, two other good-sized bedrooms + full bath & your own Laundry room. Downstairs bedroom has its own separate entrance + Ensuite with shower! BONUS parking for 3 and HOT TUB out back!! Walk to Schools, Shopping, close to Hwy 1 and Carvolth Park & Ride all at an amazing price, don’t wait!!
Welcome to the TOP floor, 2 bath & 1 bed + den (Being used as a second bedroom) at the very centrally located Station 54 with shopping and restaurants right across the street! This unit faces east with beautiful mountain views from your living room and deck and an abundance of trees for privacy. The whole package! The whole unit was freshly painted last year head to toe with soft inviting colors & the OPEN kitchen features newer refinished WHITE cabinets with a big eat up island OPEN to the generous sized dining and living room, perfect for entertaining. The master bedroom is a great size with custom extra built ins for storage & its own ensuite. BONUS powder room off the entrance for company! This unit shows 10/10 and wont last!
CMHC has announced new changes coming on July 1st. You can read the official CMHC announcement here. But here’s a quick summary of the changes:
– Minimum Credit Score rises from 600 to 680
– Maximum GDS drops to 35% (formerly 39%)
– Maximum TDS drops to 42% (formerly 44%)
– Borrowed Down payments are banned
Do you need to panic?
Not necessarily as there are 3 insurers in Canada. So far CMHC is the only one that has announced any changes. It is possible that the other 2 mortgage insurers (Genworth & Canada Guaranty), won’t follow at all, or they’ll only follow some of the rules. In fact, it might be a good competitive advantage for them not to follow all of the changes (unless mandated by the federal government). We may hear from the other 2 insurers early next week.
What does each change mean?
No More Borrowed Down payment – This isn’t really a big deal at all, as virtually zero lenders participated in this program, and the way this program worked it was pretty much an un-used program anyways. In fact, as you read this, you likely didn’t even know this program was still an option.
Credit Score Requirement – CMHC now requires a minimum 680 credit score (for 1 borrower). Previously it was 600. CMHC says that less than 6% of their mortgage applications this year had scores below 680, so it should not really affect a lot of CMHC buyers anyways…but it will affect some.
35/42 GDS/TDS – This is without a doubt the biggest announced change, and it could potentially have the largest effect on the lower end of the real estate market. This could affect an average borrower anywhere from 12% or more on their borrowing power. For example if you qualified to borrow $500,000 before, your maximum mortgage is now reduced to about $440,000.
Why are they doing this?
This only affects people buying homes after July 1st. And it will mostly affect the purchasing power of the youngest, the lowest income and lowest down payment buyers.
It won’t affect any of the following types of mortgage borrowers:
– Any buyer with over 20% down payment
– Any buyer of a home valued more than $1 Million
– Rental property purchasers
– Anyone refinancing their mortgage
– Anyone renewing their mortgage.
So, it only affects a very small portion of home buyers in the lower mainland. Unfortunately this could meant that it’s the first-time buyers that are hurt the most. Those same first-time buyers that were hurt the most from the mortgage stress test.
If you’re preapproved, and you’re intending to buy a home with less than 20% down payment, you definitely need to speak to us about how this might affect you. It might put some urgency to buy a home before July 1st.
Thinking of putting your home on the market? You’re not alone. As of May 25th, new listings in the Fraser Valley have increased by over 46 per cent compared to the same period in April.
And last month, even though transactions were down significantly compared to April of last year, on average on a daily basis, 23 families in the Fraser Valley relied on the guidance and advice from their REALTOR® and purchased a new home, while on average, 47 sellers per day listed their home.
Chris Shields is the President of the FVREB. “Housing needs do not stop during a pandemic. It’s why we were declared an essential service early on and why the real estate industry was included in BC’s phased reopening for businesses.”
“We have been working hard since the beginning of the lockdown to serve our clients in innovative and effective ways that limit personal interaction yet showcase homes and facilitate sales,” added Shields.
If you are currently considering buying or selling a home, here are the top ten actions REALTORS® are taking to meet WorkSafeBC’s new guidelines to serve the public:
Your Realtor will communicate with you through telephone, email, or video/teleconference. During this period, Realtors have been connecting virtually with their clients more than ever through FaceTime, Zoom and other videoconferencing technologies.
DOUBLING THE VOLUME OF LISTING PHOTOS ON REALTOR.CA
As you search Canada’s most-viewed real estate website, you’ll notice that Fraser Valley listings may display up to 40 photos now, up from a previous maximum of 20. This allows your Realtor to provide more visual depth and detail for your listing.
VIRTUAL HOME TOURS
In April, Realtor.ca introduced a new feature that allows Realtors to showcase listings by integrating video and 3D tours from multiple popular services. Since mid-April, traffic to Realtor.ca has increased by 14 per cent and inquiries to Realtors have increased by 25 per cent.
LIVE STREAMING OPEN HOUSES
Realtors are now scheduling and promoting live stream open houses using popular platforms such as Facebook Live, Instagram Live, Zoom and YouTube. They walk through the home videoing each room describing while you watch live and in real time. “What’s behind that door?” They’ll show you.
No sharing of pens and much more efficient. For many years, Fraser Valley Realtors have guided their clients through the completion of MLS® contracts electronically using PDF and e-signature technology.
If you haven’t sold your home in a while, you may not be aware that strata documents, land title documents, floor plans and others are available digitally. Your Realtor will email them to you.
SAFE IN-PERSON VIEWINGS
When a client is serious about a purchase, they (and their home inspector) must see the home. Per WorkSafeBC’s reopening guidelines, Realtors are working with their buyers and sellers to ensure that in-person viewings adhere to stringent safety protocols including physical distancing; handwashing and sanitizing; the use of masks, gloves and shoe covers; viewings by appointment only; limiting the number of viewers and allowing time to disinfect between viewings.
DISINFECTING REALTOR/CLIENT HIGH-TOUCH SURFACES
When appropriate, Realtors are taking extra precautions to ensure that high-touch areas such as keys, lockboxes, doorknobs, handrails, elevator buttons, etc. are cleaned and disinfected.
ENSURING REAL ESTATE OFFICES ARE SAFE TO VISIT
Like many businesses, numerous local real estate brokerages are in the process of reopening and are aware of the government’s stringent public safety guidelines including physical distancing policies, personal protective measures, and disinfection protocols.
NEW PROVINCIAL REAL ESTATE STANDARD FORMS TO PROTECT CLIENTS
A new Notice & Acknowledgement form is available for use by your Realtor during the COVID-19 pandemic. It alerts clients of changes to the real estate practice and supports your safety by helping you make informed decisions.
For more information about how the FVREB and its 3,671 members are working to keep real estate transactions safe during the pandemic, see our dedicated page at www.fvreb.bc.ca/about/covid-19-update/
In addition, the province’s real estate licensing body, the Real Estate Council of BC has a COVID-19 page devoted to consumers.
More than 10,500 people have now signed an online petition asking the health authority to allow the Langley drive-in theatre to continue after it had it’s allowable capacity cut from 200 to only 50 vehicles.
There is some confusion as to whether the movie theatre is designated as a ‘drive in event’ (which has a maximum capacity of 50 vehicles) or a ‘drive in theatre’. The theatre previously hosted 200 vehicles with a distance of 20 feet apart. The health authority are also claiming that the theatre’s take out food license is not valid even though it was used all through phase 1 of the pandemic.
THANK YOU EVERYONE!! 🙏🏼🙏🏼
. ❤️MONEY RAISED FOR LANGLEY FOOD BANK – $4,085 | Tons of non perishable food donations!!!!❤️
WOW, HUGE THANK YOU to everyone in our community for supporting our Langley Food Bank food drive and fundraiser the past weekends!! The community response absolutely exceeded our expectations. It was incredible how many people took time out of their day to drop off non perishable food donations at the Royal Lepage Wolstencroft Office for those in our community that are in need. We initially organized this mainly as a food drive since we understood that people may not be in a position to donate cash during these uncertain times however the amount of people that wanted to help and donate cash for those in need was incredibly overwhelming. So again we want to give a massive THANK YOU as well for the generous cash donations from our friends, family members, work colleagues and the community to help the Food Bank during this time. Again THANK YOU to everyone who contributed for helping spread the word and for their support. Thank you Royal Lepage Wolstencroft office and the very generous colleagues and Realtors within the office #bestofficeever for their support as well as the other local Rockstar Realtors who supported the fundraiser in the Real Estate community!!! You know who you are!! With your help we raised an incredible $4,085 for Langley food bank and dropped off multiple loads of non perishable food items. You guys ROCK. we rallied as a community to help our community we live in. That’s what it’s all about. We will get through this together ! Cheers
Special thank you to:
@cotalamarketing for donating the sign
@whitecloudproductions for filming the awesome promo video
@rlpwolstencroft for allowing us to use the parking lot
@langleyadvancetimes for the feature
@langleyfoodbank for helping with everything @ Langley Food Bank
BC’s Restart Plan lays out a series of steps that we will take together to protect people and ensure that our province can come back from COVID-19 stronger than before.
Around the world, governments have taken different approaches to try to bend and flatten the curve of transmission — from complete lockdowns to quarantines and varying intensities of physical distancing.
From the outset, B.C. established clear guidance, transparency and an evidence-based approach as hallmarks of our fight against COVID-19.
Protective measures B.C. has taken have included:
Providing physical distancing and hygiene guidelines for people, businesses and essential services to follow
Banning mass gathering of more than 50 people to reduce the risk of outbreaks
Closing bars, dine-in service at restaurants, and personal service operators, like barbers and dentists, to reduce the risk of transmission
Reducing in-classroom learning and child care
Requiring travellers to develop and stick to a 14-day isolation plan when arriving in B.C. from abroad
Restricting visitors to health care and assisted living facilities to protect some of our most vulnerable people
Postponing non-urgent and elective surgeries while maintaining urgent and emergency procedures
Working together we’ve made a lot of progress. These protective measures and restrictions have directly saved lives, but we also know that the public health benefit has come at some expense, including the economic, social and personal well-being of many British Columbians.
Check out the latest SnapStats video for the Fraser Valley. Due to the pandemic we are not seeing the typical number of sales we would see at this time of year. However there has been almost no change in benchmark prices in either condos, townhomes or single family home. In fact prices are slight up over last month and also up over this time last year. The SnapStats indicate that we are currently in a ‘balanced market’
Help us help the community during this tough time. Please watch the video featuring Jim from the Langley Food Bank. Please share this post and donate if you can during this time. Let’s rally together as a community, to help those in our community!
If you are able to make a cash donation it would be extremely appreciated by the Langley Food Bank. We have made it easy to donate and you will receive a Charitable Tax Receipt. The money will be used to purchase items that are most in need:
Food Drive: We will be at Royal LePage Wolstencroft Realty parking lot (19664 64 Avenue, Langley) from 12-2pm Sat/Sun May 2/3 & Sat/Sun May 9/10 facilitating drop offs from a safe distance.
We are also offering to pick up any donations form the Langley or Cloverdale area. Please email Donna at firstname.lastname@example.org or call/text her at 604-551-9924 if you can not make it to the drop off times.
Popular items in need include: Canned Meats and Fish, Canned Fruits and Vegetables, Sandwich Spreads (jam, peanut butter), Canned Stews, Rice and Pasta, Personal Care Products, Baby Food, Formula, and Cereal & Diapers (especially larger sizes)
During this tough time, people have to do whatever it takes to make ends meet, on top of their high demand, the food bank is seeing a huge influx of new faces and families struggling to keep up. Whether people have lost their job, seen a decrease in income, or just going through a tough time. This could be your neighbour, friend, family member, co-worker or even your grandparent. Let’s come together as a community to help our neighbours get through this tough time. CASH donations are most valuable to the Food Bank and it is easy to donate online. If you are fortunate enough to not be severely impacted by this pandemic, we are asking for your help and donation, every dollar and donation counts. Thank you!!
Congratulations to our sellers on the sale of your condo! Thank you for putting your trust in us and congratulations on the purchase of your new home!!
Welcome to COLLEGE PARK PLACE. This 2 bed 2 bath open plan unit is light and bright & Benefits from southern exposure. The great layout has bedrooms separated by the living space for max privacy & has 2 full bathrooms. Stylish laminate flooring throughout, crown molding & updated pot lights in living room. Tons of storage, BONUS, 2 large pantries & laundry/storage room, side by side washer dryer & cabinets. Master bedroom could fit a king bed & has walkthrough his and hers closets. Spend winter in front of the cozy gas fireplace (gas included) or sun filled summer days on the south facing deck. 2 parking spaces. Excellent CENTRAL location, minutes to highway 1, walking & biking trails, shopping, restaurants, Abbotsford Events Centre and the University Of Fraser Valley.