CHECK OUT THE LATEST SNAPSTATS FOR AUGUST 2021 IN THE FRASER VALLEY

For more information call Garry Voigt 604 789 2140 or email info@garryvoigt.com


SOME MUCH NEED CHANGES FOR SECONDARY HOMES ARE COMING FOR PROPERTIES LOCATED IN THE ALR

Some much needed changes are coming to owners who have properties located within the Agricultural Land Reserve. Under the old rules, secondary accommodation on land within the ALR was restricted to use by land owners, immediate family or farm workers with permission from the Agricultural Land Commission

There are still some restrictions based on the size of the existing residence and the parcel of land but essentially this new rule opens up the opportunity to have a rental property with an additional income source, such as garden suites or carriage houses above existing buildings.

Another example of the new flexible option is the addition of a manufactured home or the construction of a new principal residence where a manufactured home was formally the principal residence.

As of December 31st   permission for a secondary dwelling will no longer be needed for the ALC, only from local government or First Nations government. Farming families will continue to be able to apply to the ALC for multiple, larger homes if they are necessary for farming purposes.

CLICK HERE for more information on the changes.


THANK YOU LANGLEY FOR VOTING ROYAL LEPAGE WOLSTENCROFT READERS CHOICE – BEST REAL ESTATE FIRM

Thank you Langley for voting Royal LePage Wolstencroft as your Favourite Real Estate Firm. We are proud to live and work in the community of Langley!

 

 


CHECK OUT THE LATEST SNAPSTATS FOR THE FRASER VALLEY FOR JULY

 


FOOD TRUCKS COMING TO LANGLEY PARKS THIS SUMMER!

Visiting some of Langley’s parks just took on an exciting twist! From now until the end of September, two Food Trucks will be serving their delicious offerings at various parks around the City.  (See link below for the full schedule)! So get out and enjoy the beautiful parks all around Langley and support local business!

For the Indian delights of OUT FOR LUNCH head to the following parks:

City Park West

City Park East

Uplands Off Leash Park

Penzer Park East Parking Lot

For the mouth watering burgers, tots and tacos of MATCH ON THE MOVE head to the following parks:

Linwood Park

City Park East

City park West

Brydon Park

Penzer Park West Parking Lot.

CLICK HERE for the full schedule.

Well done to the City of Langley for granting temporary licenses to allow food trucks to operate in the parks! This will run in conjunction with the alcoholic beverages in parks pilot project, launched by the City on July 2nd that will run until September 30th.

What a great way to enjoy the City.


JUST LISTED – CLAYTON WALK – 2 BED – 3 BATH TOWNHOUSE

1004 18505 Lautensen PlaceWelcome to family friendly CLAYTON WALK, built by reputable Anthem Homes in one of Cloverdale’s most walkable neighbourhoods! This contemporary style 2 bed & den, 3 bath townhouse has a light, bright open floor plan. The lower floor features a den, being used as a small 3rd bedroom with its own bathroom with shower. Walk up to the open plan kitchen with white, soft close, shaker cabinets, stainless appliances & tons of quartz counter space. The kitchen opens to the dining & living room with access to the sunny south facing deck. Upstairs you will find 2 good size bedrooms & 2 full bathrooms. You cannot beat the location, nestled next to parks & trails & walkable to both Salish Secondary & Clayton Elementary Schools, stores, restaurants & the proposed Skytrain Station!

 


AS OF JUNE 1ST 2021 THE ‘STRESS TEST’ FOR BORROWERS WILL BE EVEN MORE STRINGENT AND WILL AFFECT BORROWING POWER

For more information click on the articles below

Moneysense

Global news

Bank of Montreal

Starting on June 1st 2021, Canada’s federal banking regulator has once tightened the rules on the Mortgage Stress Test. This is the percentage rate set by the regulator that borrowers need to qualify at for a mortgage, regardless of what the actual interest rate is at the time of applying. This change will affect both potential home buyers with a 20% down payment or less than 20% down.

The thinking around this is to have borrowers show that they can continue to pay their mortgage on the off chance that rates will rise to the stress level qualifying rate. The stress test will also apply to borrowers who are looking to refinance.

Essentially the stress test will affect borrowing power by Approximately 5%. For example, a family with an annual income of $100,000 with a 20 per cent down payment and five-year fixed mortgage rate of 1.78 per cent amortized over 30 years would qualify for a home valued at $651,000 under the previous 4.79 per cent qualifying rate, according to ratehub.ca.

Under the new stress test rate of 5.25 per cent, that family’s maximum affordability would decrease to $618,000.

If you need more information on this or any other mortgage advice, we have an amazing team of professional mortgage advisers on standby, just let us know and we can send you their info.


JUST LISTED – 2 BED – 2 BATH CONDO – MICHAUD GARDENS – LANGLEY CITY – 19+ BUILDING

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 info@garryvoigt.com

 


JUST LISTED – EXECTUTIVE 4 BED – 4 BATH TOWNHOUSE – YORKSON CREEK SOUTH – 2218 SQ FT

 

Welcome to luxury townhouse living at YORKSON CREEK SOUTH built by the reputable Quadra Homes! This Spacious 2,218 sq/ft END unit has PARKING for 4 or 5 vehicles. The double garage is finished w/epoxy floor, EV hook up + in front, a HUGE parking pad over 26ft!! The home features 3 Beds + a BONUS Rec room (4th Bedroom) w/its own separate entrance & ensuite + 4 Baths. Main floor offers an OPEN floor plan with SS appliances, GAS STOVE, HUGE walk-in pantry, GRANITE counters, solid wood soft close cabinets, high-end HARDWOOD flooring & a powder room. Upper floor has master with vaulted ceilings, A/C, W/I closet, soaker tub, shower, dbl sinks, heated floors + convenient upper floor laundry. Custom closet organizers in every closet! The home is roughed in for an ELEVATOR and wheelchair friendly!

 

Contact garry Voigt for more info info@garryvoigt.com – 604 789 2140


CHECK OUT THE APRIL SNAPSTATS FOR THE FRASER VALLEY PLUS GARRY’S MARKET UPDATE

I hope everyone is continuing to stay safe while also getting to enjoy some of this beautiful sunshine we have been having! I have been keeping a very close eye on this unprecedented market and this is what I am seeing:

The Real Estate Board is processing a record number of new listings however they are also processing a record number of sales. This means that inventory is increasing substantially however demand remains unusually strong. The question is how long will this demand last? If we continue to see this increase in supply it will eventually outweigh the demand. Currently we are seeing that happening on a small scale. Prices from what I can see are starting to plateau, except in the condo market where I am just seeing sale prices start their rise (They are always last to see it).

As we get into the nicer months, we usually see more and more inventory coming to market, so it will be interesting to see what is to come in May/June. As always, I will keep everyone informed!

Take away: From a monetary perspective we do know one thing, there has never been a better time to sell!
If you have any questions about your home value or your market. Reach out to me anytime! – Garry

©2020 SnapStats Publishing Co. *All data sourced from the FVREB MLS®. Market Speed is based on the Sales-to-Active Listing ratio and the Fraser Valley Real Estate Board’s market types (ie Balanced Market 12 to 20%.) All data reported is Median and
represents Single Family Homes and Condo/Townhomes in the following areas: Surrey, South Surrey/White Rock, North Delta, Cloverdale, Langley, Abbotsford and Mission. Market Speed is best defined over several months. Refer to our YTD reports for
sustained periods of the Sales Ratio %. This communication is not intended to cause or induce breach of an existing agency agreement. More info at Snap-Stats.com.