Welcome to Huntington West. Spacious 2 bed & 2 full bath condo is a top floor, corner unit. Located on a quite tree lined street. Lots of windows for nature light. Large living room with gas fireplace. Dining room for family dinners. Kitchen white cabinets & appliances make it bright. Large primary bedroom, perfect for you king size furniture. 4-piece ensuite. Good size 2nd bedroom. 3-piece main bath. Lovely wood flooring in living, dining & hallways. Newer carpeting in bedrooms for warmth. In-suite laundry. Sit on the deck & enjoy view. 2 parking spots+storage locker. Short stroll to the beautiful & popular Moody Park, Lord Kelvin Elementary & to Royal City Centre. Local shops & restaurants make this a well sought out neighbourhood. OPEN HOUSES SATURDAY & SUNDAY JULY 6 & 7 1:00 to 3:00pm… See you there
SOLD* 1508 2789 SHAUGHNESSY STREET PORT COQUITLAM
Posted on
July 6, 2024
by
Marie Taverna
Welcome to “The Shaughnessy”. Lovely 2 bedroom & 2 bath corner unit condo with panoramic view in the only concrete tower in Port Coquitlam. Large floor to ceiling windows allows the natural light to stream in. Gas range cook-top/white stone counter tops/stainless steel appliances/tall cabinets are featured in the kitchen. Primary bedroom has 2 closets with organizers. Ensuite with soaker tub/shower. 2nd bedroom would be a great nursery or home office space. 2nd bath with walk-in shower. Tiled entrance. In-suite laundry. Building includes gym, amenity room, garden terrace & more. Lions Park is at your doorstep. Perfect for kids & dogs to visit. Shopping & restaurants across the street. Easy access to major highways & transit. The new buyers will love this area. SOLD* 11860 MEADOWLARK DRIVE MAPLE RIDGE BC
Posted on
July 6, 2024
by
Marie Taverna
Welcome to 11860 Meadowlark Drive in the popular Cottonwood neighbourhood in Maple Ridge. This lovely home is perfect for your family to settle into. Split level design home with 3 bedrooms & 3 baths. Living room with fireplace & vaulted ceiling for your very tall Christmas tree. White & bright kitchen has white cabinets+ stainless steel appliances+quartz counter tops. 3 bedrooms upstairs. 4-piece main bath & 3-piece ensuite. Lower-level rec room/playroom/home gym/craft area, you chooses plus a fireplace. Cozy family room with glass sliders to the fabulous back yard. Laundry room & 2-piece bath down. Cool off in the above ground pool. Multi level sundecks for summer fun. Fully fenced backyard. Double car garage, quiet street & so much more... A lovely family is moving to the neighbourhood How to embrace eco-friendly cleaning habits without breaking the bank
Posted on
July 4, 2024
by
Marie Taverna
HOME TIPS
Posted on
July 4, 2024
by
Marie Taverna
Fraser Valley home sales fall despite Bank of Canada rate cut
Posted on
July 4, 2024
by
Marie Taverna
SURREY, BC – The policy rate cut of 25 basis points by the Bank of Canada on June 5 was not enough to rally home sales in the Fraser Valley last month. The Fraser Valley Real Estate Board recorded 1,317 sales in June, down by 13 per cent over last month and by more than 30 per cent over both last year and the 10-year seasonal average. While sales remain soft, inventory continued to build for the sixth straight month to 8,350 active listings. Active listings increased 41 per cent over June 2023 and are the highest they’ve been in five years. “With seasonally slow sales in June and a steady increase in inventory, we’d expect to see affordability improve,” said Jeff Chadha, Chair of the Fraser Valley Real Estate Board. “However, prices in the Fraser Valley remained relatively flat. That said, despite slow sales, properties that are well-priced are finding buyers, and are subsequently selling within three to four weeks.” New listings dropped in June, down nine per cent from May, to 3,418. With a sales-to-active listings ratio of 16 per cent, overall market conditions are balanced. The market is considered balanced when the ratio is between 12 per cent and 20 per cent. “The June rate cut hasn’t been enough to get buyers off the sidelines,” said FVREB CEO, Baldev Gill. “Current market conditions are such that buyers and sellers are advised to have thoughtful conversations with their REALTOR® and lending professional, rather than relying on media reports about where interest rates may be heading in the future.” Across the Fraser Valley in June, the average number of days to sell a single-family detached home was 22, while a townhome was 20. Condos took on average, 30 days to sell. Benchmark prices in the Fraser Valley remained relatively flat in June, with the composite Benchmark price down 0.5 percent from May and down 3.2 per cent from June 2023. MLS® HPI Benchmark Price Activity • Single Family Detached: At $1,528,900, the Benchmark price for an FVREB single-family detached home decreased 0.1 per cent compared to May 2024 and increased 0.5 per cent compared to June 2023. • Townhomes: At $851,100, the Benchmark price for an FVREB townhome decreased 0.3 per cent compared to May 2024 and increased 0.8 per cent compared to June 2023. • Apartments: At $551,100, the Benchmark price for an FVREB apartment/condo decreased 0.7 per cent compared to May 2024 and increased 0.4 per cent compared to June 2023. Fixed or variable rate? Here’s how to prepare for your mortgage renewal
Posted on
July 4, 2024
by
Marie Taverna
More than half of Canadian mortgages will renew before the end of 2026, and with the Bank of Canada lowering its key interest rate from 5.0% to 4.75% on June 5th, many homeowners are now wondering which mortgage type they should opt for upon renewal — a fixed or variable rate. Understanding the options available and anticipating changes is essential to successfully navigating today’s evolving mortgage landscape. With a significant cohort of homeowners needing to renegotiate their mortgages within the next three years, those who opted for variable-rate mortgages -– or who took out a loan in 2021 at the trough of historically low rates — will be particularly affected by the planned adjustments. For those who will soon have to deal with the current higher-rate mortgage environment, below are some considerations to help you make an informed decision about an upcoming mortgage renewal. Current situationWhile variable rates were historically lower during the height of the pandemic real estate boom, the trend has recently reversed, with variable rates now higher than fixed rates. The average five-year variable interest rate offered by mortgage lenders currently hovers around 6.7%, while most fixed rates are typically 5.6%. A variable mortgage rate depends on a number of economic factors, such as the key overnight lending rate, which is set by the Bank of Canada. Although Canada’s central bank recently cut its key rate for the first time in four years, the institution could change course if inflation levels increase in the months ahead. However, economists widely expect further cuts to the lending rate by the end of 2024. The trend is set to continue into 2025, unless economic conditions change significantly. Regardless of declining interest rates, the historically-low rates Canadians have been accustomed to over the last two decades are now a thing of the past. What you need to know about variable ratesWhen it comes to variable-rate mortgages, when the prime rate rises – which is influenced by the Bank of Canada’s overnight lending rate – mortgage payments automatically increase. However, with variable loan structures with fixed-payment options, monthly payments remain unchanged, even in the event of a rate increase. Instead, this type of variable-rate mortgage adjusts the mortgage amortization period (the time it takes to repay the mortgage in full). This is due to the fact that a smaller proportion of each payment is allocated to repaying the mortgage principal. Understanding your needsThe choice between a fixed- and variable-rate mortgage largely depends on the borrower’s risk tolerance and personal situation. Since variable rates are subject to fluctuations, is your lifestyle conducive to these changes? Even if interest rates begin to fall, there are many economic factors influencing their direction, which can occur at various times during your mortgage term. The right mortgage product for you depends on your short- and medium-term situation. If you’re currently in a period of transition (career change, separation, etc.), you may want to opt for a fixed-rate that offers you some stability. Strategic options for borrowersFixed-rate mortgage with a shorter termAmidst economic uncertainty, more borrowers are opting for fixed-rate mortgages with shorter terms (one, two or three years). This way, in an environment where rates are quickly changing, borrowers can lock in predictable monthly payments without the need to stay with the same rate long term. Hybrid-rate mortgageThis option combines customized features of both a variable and a fixed rate — part of the mortgage has a fixed interest rate and the other has a variable interest rate. This way, the borrower can benefit from the best of both worlds. Convertible mortgageThis type of loan offers the possibility of converting a variable interest rate loan into a fixed-rate mortgage, or vice versa, before maturity, thus allowing borrowers to adapt their mortgage financial strategy to market conditions. Consult a professionalAt a time when real estate prices remain high due to sustained demand, choosing the right mortgage product is crucial. It is advisable to consult a mortgage broker to explore scenarios best suited to each individual situation. Anticipating interest rate fluctuations and adjusting your financial strategy accordingly can make a big difference in managing your long-term mortgage. Roseline Joyal-GuillotDirector, Communications & Marketing, Quebec Market shifting in buyers’ favour, though hesitation remains
Posted on
July 4, 2024
by
Marie Taverna
More than a quarter of renters in Canada plan to purchase a home within the next two years
Posted on
July 4, 2024
by
Marie Taverna
The Royal LePage 2024 Canadian Renters Report includes insights into regional rental market trends and the sentiments of renters from coast to coast, including their plans to transition into home ownership. According to the report, 27 per cent of Canadians who currently rent their home say they plan to purchase a property in the next two years. Among those aged 18 to 34, that figure jumps to 40 per cent. Meanwhile, 69 per cent of renters say they do not plan to buy a home in the near future. Among them, more than half (54%) do not feel their income will be sufficient to afford a property in the area where they wish to live (61% among respondents aged 18 to 34). “The rental sector is not immune to the significant affordability challenges stemming from Canada’s acute housing shortage. High mortgage rates have made it difficult for many to purchase a home, forcing some to move into, or remain longer than planned, in the rental market,” said Phil Soper, president and chief executive officer, Royal LePage. “Despite a short-lived decline in prices and demand for rental units during the height of the COVID-19 pandemic, the available supply of rental properties in most major markets remains ultra low.” Here are some key highlights from the report:
Anne-Elise Cugliari Allegritti Director, Communications NEW LISTING 311-1009 HOWAY STREET NEW WESTMINSTER BC $699,000.00
Posted on
July 4, 2024
by
Marie Taverna
Welcome to this fabulous home at Huntington West. This spacious two bedroom and two full bathroom condo is a top floor plus corner unit with vaulted ceilings. Located on a quite tree lined street. Lots of windows to let the nature light pour in. Large living room with gas fireplace. Dining area perfect for family dinners. The kitchen white cabinets and appliances make it bright, plus window over sink to enjoy the view. Large primary bedroom, perfect for you king size furniture. Four-piece ensuite. Good size second bedroom. Three-piece main bath with walk in shower. Lovely wood flooring in living, dining and hallways. Newer carpeting in bedrooms for warmth. In suite laundry. Enjoy summer nights on the deck to enjoy the view. Two side by side parking spots plus a storage locker. A very short stroll to the beautiful and popular Moody Park, Lord Kelvin Elementary and to Royal City Centre for all your shopping needs. Local shops and restaurants make this a cozy and well sought out neighbourhood. |