Fraser Valley Real Estate News from Ed Wiebe March 2019   
  Real Estate News




Ed Wiebe
Designated Agent

HomeLife Benchmark Realty Corp.
#103 5830 176A Street
Surrey, B.C. V3S 4H5
604-880-8455
www.SurreyAgent.com


 
The world of real estate is full of ups and downs so trying to figure out when to buy or sell can be a real challenge. This month's article offers some useful strategies for those who are looking to make a move in today’s ever-changing market.

There are also some great ideas for upcycling old household items into something new and unique as well as a few of the latest tech trends from the recent Las Vegas Electronics Show!

Thanks so much for checking out this month's newsletter. Please get in touch if you have any questions or comments regarding the articles, or real estate in general. It'd be great to hear from you!

Cheers, see you next Month!
Ed Wiebe

In this issue...
Fraser Valley Real Estate Market Update 
Fraser Valley real estate market gears up for spring.

Coming off a mild January, the Fraser Valley real estate market saw an increase in sales activity and overall inventory in February along with decreased prices in several of its communities.

The Fraser Valley Real Estate Board processed 982 sales of all property types on its Multiple Listing Service® (MLS®) in February.

This was a 25.3 per cent increase compared to sales in January 2019, and a 29.1 per cent decrease compared to the 1,385 sales in February of last year. Of the 982 total sales, 354 were residential detached homes, 236 were townhouses, and 288 were apartments.

Darin Germyn, President of the Board, said of the market: “With inventory continuing to build, and prices softening across many of our areas and property types, buyers will be well positioned to make a move this spring.”

There were 6,406 active listings available in the Fraser Valley at the end of February, an increase of 6.9 per cent compared to January 2019’s inventory and an increase of 47.6 per cent year-over-year.

The Board received 2,216 new listings during the month, a 15.1 per cent decrease compared to January 2019’s intake of 2,609 new listings and a 3.4 per cent decrease compared year-over-year.

“Demand within our region varies depending on the community, with both residential detached homes and attached properties garnering interest when priced effectively,” continued Germyn. “If you’re looking to list, contact a REALTOR® who can help you understand the local market and what price point will bring you the buyers you’re looking for.”

For the Fraser Valley region, the average number of days to sell an apartment in January was 40, and 39 for townhomes. Single family detached homes remained on the market for an average of 43 days before selling.

Is it a Good Buy or Good Bye? 
Will the housing market cool down, level out or gain steam?

No one can say for sure what’s around the corner when it comes to the real estate market but there are steps you can take ahead of time to prepare yourself. If you're currently considering home ownership, here are a few points to consider:

  1. Planning Makes Perfect - It's important to plan ahead so research local amenities and consider features like parks and schools if you’re planning to start a family.

  2. Know the Numbers - Ensure you're financially ready to buy a home. There are many other costs aside from mortgage payments so know what you're getting yourself into.

  3. Stick to Your Budget - Examine your individual needs so that you don’t overextend yourself financially. Make a list of the features that fit your family's lifestyle before looking at homes.



  4. Go Pro - Have a real estate agent help guide you through the entire process. Start with a market evaluation of homes that have recently sold in your area along with an analysis of community trends.

  5. Think Straight - It’s normal for home buyers to experience a full range of emotions during the complex real estate rollercoaster ride. House hunting should be fun though, so don’t take things personally or let your emotions rule every decision.

  6. Inspect the Unexpected - Just because you've checked over the house thoroughly doesn't mean all’s well behind the scenes. Making an offer conditional on a home inspection will help you avoid any nasty, expensive surprises.

An uncertain real estate market can make it difficult to know whether you should hold off purchasing a home in case prices fall, or jump right in before prices skyrocket. One thing’s for sure though. The time to buy is when your budget matches your needs, so always consider your personal circumstances before making a decision. Please don’t hesitate to get in touch if you ever have any questions!

Reduce, Reuse, Upcycle 
The junk in your attic may be a treasure trove of opportunities!

Upcycling is a popular trend where existing items that would normally make their way to the curb are instead transformed into something useful and stylish. Here are a few creative ideas to help inspire you:

  1. Tub Chair - Cut an old claw foot tub in half and add a few seating pads for a very unique set of chairs.

  2. Bike Sink - Transform an old bicycle into a bike sink and use the basket for towels, plants or toiletries.



  3. Stylish Shelf - Turn an old ladder into a cool spot to hang towels or fix it to the ceiling and hang photos or lanterns from the rungs.

  4. Picture Perfect - Love an old painting but don’t have anywhere to hang it? Just add some handles to create a unique serving tray!

  5. Door Designs - Salvaged doors can be upcycled into tables, headboards or a storage bench. You can even create a folding screen divider by fixing a few of them together.

The opportunities for creative upcycling are endless, so give your old items a new lease on life while adding your own twist to them. Not only will you save money but you’ll also help the environment while injecting some fresh new creativity into your space!

Home Is Where the Smart Is 
Check out the latest and greatest in household smart gadgetry!

Every year, the Consumer Electronics Show in Las Vegas introduces new and exciting technology. Here are a few of the latest innovations in smart home gadgetry:

  1. Smart Plank - This smart home hub looks like a smooth and simple piece of wood but it has an integrated touch sensor that will help control your home.



  2. TV Be Gone - Now you can literally not watch TV as the latest models will magically disappear and turn into an attractive piece of furniture when not in use.

  3. Sleep Easy - There’s a new headband for those not getting enough shut-eye. Sensors detect when you enter a deep sleep cycle and then play sounds to help you remain there.

These are just a few of the latest technologies to hit the market. As homes get smarter and more connected, homeowners will continue to benefit by enjoying unprecedented levels of convenience and comfort.



PS Are you tired of scouring the paper and MLS sites looking for homes? Frustrated with playing telephone tag with agents only to hear the home's already sold? Please let me do the work for you! Just visit my website and check off the features you're looking for. Whenever a home matching your criteria hits the market, it'll be automatically flagged and emailed to you so you'll never have to worry about missing your dream home. This service is free and there's no obligation! Click here to get started. FOR LEGAL & ETHICAL REASONS: PLEASE NOTE THAT THIS SERVICE IS AVAILABLE ONLY TO BUYERS & SELLERS WHO ARE NOT ALREADY COMMITTED TO ANOTHER REALTOR. 

Not meant to solicit clients already under contract.