Awesome family home located in Cloverdale. Approx 7,500sf lot on a quiet cul-de-sac. Beautifully landscaped front yard includes an island with water fountain, huge paver stone Driveway with RV parking +5 cars. Large backyard is fully fenced with Workshop, Kids play area, mature apple & cherry trees. 3 bedrooms up and 2 down. Upper floor has bright living room with cozy fireplace. Dining room opens up to a large deck with covered BBQ, perfect for entertaining! Lower level has family room and separate entrance with suite potential. Professionally painted, attractive crown molding, cameras and security system. Updates in the last 4 years include windows, driveway, deck, carpets, high end furnace. Walk to George Greenaway and Cloverdale Athletic Park. This one won’t last – a must see!
Welcome to WILLOWBROOK GATE. This spacious 2 bed, 2 bath, updated, above ground floor condo overlooks Langley Meadows Park & is located an easy walk to shopping, restaurants & an array of other amenities. This condo has an awesome layout, 2 large bedrooms, both overlooking the park, on opposite sides for privacy. 2nd bedroom is located next to its own bathroom. Master suite has his and hers walk through closets an updated walk-in jetted tub. Large kitchen has ample cabinet and counter space plus a cute little breakfast nook and opens on to both the spacious living room with A/C & formal dining room easily big enough entertain family and friends. Cozy up in front of the gas fireplace or enjoy morning coffee/evening BBQ on your east face deck looking onto greenspace and the park beyond.
Call Garry Voigt for more onfo 604 789 2140 email firstname.lastname@example.org
Welcome to MICHAUD GARDENS, pride of ownership shows in every room of this large 2 bed, 2 bath Condo! Over 1100sq/ft with bedrooms on opposite sides for privacy! Beautifully updated kitchen & bathrooms with shaker cabinets, quartz counters & undermount sinks. Kitchen also benefits from ample counter space, stainless appliances, built in wine fridge & undermount LED lighting! Bright open dining room & living room leading out to your east facing deck looking onto the tranquil landscaped gardens & water fountain! Spacious master bedroom with his and hers closets & double sinks in the ensuite. Updated LED lighting and crown moulding throughout! BONUS in suite laundry with newer washer dryer and lots of extra storage. 1 parking with ample street parking, a very well-maintained 19+ building.
For More information call Garry Voigt 604 789 2140 or email email@example.com
Welcome to CALERA, one of the best locations in Clayton! This 2 bed, 2 bath condo has MANY great features, including a HUGE, partly covered, fenced patio. Feels like the ground floor with no downstairs neighbours but with all the security of being on the 2nd floor. Bright airy & open with 9ft ceilings, kitchen has stainless appliances and quartz counters, plenty of cabinet space & opens to living/dining room. Bonus office area with built in upper cabinets. Master suite with his & hers closets + good size 2nd bed with custom wood wall & 2nd full bath. Conveniently located on the same floor as the gym & rec room. Bring your fur babies, very pet friendly building & minutes to Clayton off leash dog. Ample street and visitor parking and an unbeatable location, walk to stores & restaurants!
For more information call Garry Voigt 604 789 2140 or email firstname.lastname@example.org
Looking for the perfect family home? Here it is, first time on the market in 30 years! Located next to East View Park in the very desirable Cloverdale neighborhood. This large 2878 sq/ft, 6, bed 3 bath home sits on a 7428 sq ft lot with tons of parking & huge, PRIVATE SOUTH FACING back yard. Upstairs consists of 3 bedrooms including master with updated ensuite! Formal living, dining room & family room with cozy gas fireplace & kitchen with access to huge (recently redone) south facing sun deck, great for entertaining! Below features a very bright WALKOUT 2 bed, 1 bath mortgage helper + 1 bed for upstairs use. Some recent updates include all the bathrooms, H/W tank 2019, New furnace 2020, roof approx 10 years old & newer gutters. Walk to Latimer RD Elementary. Hurry, this home won’t last!
Call Garry Voigt for more information 604 789 2140 or email email@example.com
On the heels of the busiest, most unexpected December in our Board’s history and half a year of the market out-performing all expectations during COVID-19, we turned to one of the most in-demand, economists in our province for insight for you to share with your clients.
We were fortunate to get exclusive, in-depth market intelligence – specific to our Fraser Valley region – from BCREA’s Brendon Ogmundson, who as you can imagine is currently busier than a snow-making machine at local mountains due to 2020’s astounding market numbers.
He details: What happened in Fraser Valley’s market last year, and answers the million-dollar question, can it sustain in 2021?
This is part one of two with the second installment coming in next week’s NewsReal. First, we look back at a year like no other and next week, we look at what’s ahead.
FVREB Communications in conversation with Brendon Ogmundson, BCREA Chief Economist:
Q: How would you describe Fraser Valley’s real estate market in 2020? Walk us through what happened starting from what looked like a decent start of the year…?
After two years of demand being stifled by various government policies – principally the B-20 stress test – and new taxes on housing, the Fraser Valley market was set to continue to recover and record an average, typical year. However, as members know, that return to normal was swiftly upended by a worldwide pandemic that threw a blanket of uncertainty over the entire global economy.
With the industry and society in lockdown during the spring months, the housing market slowed dramatically. Sales in the early spring fell to unprecedented lows and it was anticipated that sales would remain below normal through the summer months and possibly beyond. No one knew.
Then the unexpected happened. Home sales in the Fraser Valley began to climb in the early summer, eventually setting or nearly setting monthly sales records through the fall and winter.
By year’s end, in the midst of a global pandemic, with BC facing a jump in the unemployment rate to a 30-year high, with borders closed, and with immigration halted, sales in the Fraser Valley finished the year up over 28 per cent while benchmark home prices were up over 13 per cent.
“The housing market in 2020 was nothing short of remarkable.”
Q: No one knows BC’s economy and the housing market like you, how unusual was this post-lockdown response?
The performance of the housing market in 2020 was nothing short of remarkable. The COVID-19 recession battered many sectors of BC’s economy, but looking at the housing market, it would be difficult to tell that there was a recession at all.
In a typical recession, housing sales decline as job losses and heightened uncertainty prompt potential buyers to pull back from the market. At the same time, the supply of listings accumulates as some households are forced to sell due to rising unemployment and falling incomes. The COVID-19 recession, however, has been anything but typical. Instead, this recession has seen a remarkably swift rebound in home sales and prices, not only to pre-COVID-19 levels but to historic highs.
Hindsight is indeed 2020 when it comes to 2020
Q: Did the rebound surprise even you?
A: The speed and strength of the recovery was absolutely surprising, but with the benefit of hindsight we can see clear factors that propelled the market forward.
First, the real estate industry did an excellent job in ensuring that transactions could continue without undue risk to the public. Secondly, the impact of the COVID-19 recession on the provincial labour market was not equal across sectors. Most job losses afflicted low wage sectors of the economy, like front-line service sector jobs, while employment in above-average wage sectors that tend to drive the ownership market has risen about 5 per cent above pre-COVID-19 levels.
Most importantly, a swift and overwhelming policy reponse from the Bank of Canada pushed mortgage rates to new record lows. All of those factors, along with a surge of pent-up demand after the initial crisis phase of the pandemic, meant that demand for housing returned with vigour.
Homes became all things to all people all the time
Q: We saw some specific home sale trends in the Fraser Valley due to COVID-19 – can you delve into those more?
A: There’s no question COVID-19 altered the needs of BC families as homes suddenly became a workplace, a school, an entertainment centre, and a refuge. We’ve seen a pronounced shift towards demand for larger homes and for those working from home, a commute becomes less relevant.
The extra space afforded by a single-family detached home that fulfills those needs, along with record-low borrowing costs, resulted in the sales numbers we’ve seen. In the Fraser Valley, sales of detached homes almost doubled in December, rose over 40 per cent in 2020 compared to 2019 and approached 50 per cent of total sales for the first time since 2017. So, it’s no surprise that prices for detached homes closed the year up with double-digit increases.
Sales of townhouses, a close substitute for single-detached, were up over 30 per cent in 2020, with more modest price gains of around 5 per cent year over year.
- And how about apartments? How did Fraser Valley condos fare in a pandemic year?
A: Apartments began the year with challenges due to strata insurance, and as an investment vehicle or entry-level home for first-time buyers, apartments were clearly held back by the pandemic’s impact on younger workers and renters. Still, even with those challenges, apartment sales across the Fraser Valley finished the year higher and prices appreciated close to 5 per cent.
In terms of the condo sector as a whole, as vaccinations progress, the economy heals, and borders open to tourism and immigration, we anticipate demand for apartments will post a strong recovery in 2021.
Thank you, Brendon! That wraps up the first part of our two-part series on Fraser Valley’s real estate market in 2020 and 2021. Don’t miss part two next week, when Brendon Ogmundson, Senior Economist, BCREA, forecasts what’s in store for hopefully a pandemic-recovery year.
Source: FVREB Communications
November was another record breaking month for sales in the Fraser Valley it is still a SELLERS MARKET. Many homes are selling for over list price and in multiple offers.
Check out the SnapStats video for details.
Call Garry Voigt 604 789 2140 or email firstname.lastname@example.org for more information on the current market.
Check out the latest SnapStats for the Fraser Valley. After the affects of the Covid19 pandemic bought things to a halt in March and April, we started to slowly see a recover through May with a huge surge of market activity in June! Sales in June 2020 were up 115% over May 2020. The latest SnapStats indicate that we are in a sellers market** and we are once again seeing multiple offers and listings being sold within days of hitting the market.
For more information on the current Real Estate market, call or email Garry Voigt 604 789 2140 or email@example.com.
**The accuracy and completeness of the information is not guaranteed. In providing this information SnapStats® or Garry Voigt do not assume any responsibility or liability. More info at snap-stats.com .
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.
CLICK HERE to sign the online petition.
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.
To read more, check out the article in the LANGLEY TIMES