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I just finished uploading this Townhouse for sale, 15148 Beachview Avenue, White Rock, BC

COMING SOON! Call for more details.

We are proud to announce that this Feb 18th, 2:00 PM to 4:00 PM we will be hosting an Open House at 20962 48 Ave. in the NEWLANDS neighborhood, Langley. This is an opportunity to visit this excellent House for sale in beautiful NEWLANDS.

Please come with any questions you may have. In the meantime you can take a virtual tour of this NEWLANDS House for sale.

As always please do not hesitate to give me a call at 604.533.3491 if I can answer any questions before the open house, or if you would like to book a private showing.

Tammy Evans, Personal Real Estate Corporation
Treeland

2018 brings more of the same for Fraser Valley real estate

SURREY, BC – Fraser Valley housing market activity in January continued on the momentum seen throughout 2017 with year-over-year increases seen for both sales and pricing.

The Fraser Valley Real Estate Board processed 1,210 sales of all property types on its Multiple Listing Service® (MLS®) in January, an increase of 24 per cent compared to the 976 sales in January of last year, and a 10 per cent decrease compared to the 1,344 sales in December 2017. This was the third highest sales total for a January in the Board’s history, behind only 2016 (1,338) and 1992 (1,270).

Of the 1,210 sales processed last month 281 were townhouses and 338 were apartments, together representing 51 per cent of all transactions in January.

“This will be the third consecutive year of heightened market activity for our region, and we’re starting 2018 exactly where we left off – gradually rising prices, tight inventory, and the dominance of attached home sales," said Gopal Sahota, Board President.

Active inventory for the Fraser Valley finished at 3,962 listings last month, increasing 3.8 per cent month-over-month, and decreasing 10 per cent when compared to January 2017. January’s sales-to-active listing ratio was 31 per cent.

The Board received 2,092 new listings in January, a 63.8 per cent increase from December 2017’s 1,277 new listings, and a 3.9 per cent decrease compared to January 2017.

"Generally, pricing continues to be heavily impacted by ongoing demand and a lack of incoming inventory,” continued Sahota. “While conditions may differ depending on property type and area, it remains a complex real estate environment overall where a thorough understanding of the market and knowing what you’re looking for can make all the difference.”

For the Fraser Valley region the average number of days to sell an apartment in January was 19, and 24 for townhomes. Single family detached homes remained on the market for an average of 46 days before selling.

HPI® Benchmark Price Activity

• Single Family Detached: At $982,700, the Benchmark price for a single family detached home in the Valley increased 0.6 per cent compared to December 2017, and increased 15.1 per cent compared to January 2017.

• Townhomes: At $519,400 the Benchmark price for a townhome in the Fraser Valley increased 1.2 per cent compared to December 2017, and increased 23.4 per cent compared to January 2017.

• Apartments: At $404,100, the Benchmark price for apartments/condos in the Fraser Valley increased 4 per cent compared to December 2017, and increased 44.1 per cent compared to January 2017.

Stats provided by the Fraser Valley Real Estate Board. Full package:
http://www.fvreb.bc.ca/statistics/Package201801.pdf

Bank of Canada increases overnight rate target to 1 1/4 per cent

The Bank of Canada today increased its target for the overnight rate to 1 1/4 per cent. The Bank Rate is correspondingly 1 1/2 per cent and the deposit rate is 1 per cent. Recent data have been strong, inflation is close to target, and the economy is operating roughly at capacity. However, uncertainty surrounding the future of the North American Free Trade Agreement (NAFTA) is clouding the economic outlook.

The global economy continues to strengthen, with growth expected to average 3 1/2 per cent over the projection horizon. Growth in advanced economies is projected to be stronger than in the Bank’s October Monetary Policy Report(MPR). In particular, there are signs of increasing momentum in the US economy, which will be boosted further by recent tax changes. Global commodity prices are higher, although the benefits to Canada are being diluted by wider spreads between benchmark world and Canadian oil prices.

In Canada, real GDP growth is expected to slow to 2.2 per cent in 2018 and 1.6 per cent in 2019, following an estimated 3.0 per cent in 2017. Growth is expected to remain above potential through the first quarter of 2018 and then slow to a rate close to potential for the rest of the projection horizon.

Consumption and residential investment have been stronger than anticipated, reflecting strong employment growth. Business investment has been increasing at a solid pace, and investment intentions remain positive. Exports have been weaker than expected although, apart from cross-border shifts in automotive production, there have been positive signs in most other categories.

Looking forward, consumption and residential investment are expected to contribute less to growth, given higher interest rates and new mortgage guidelines, while business investment and exports are expected to contribute more. The Bank’s outlook takes into account a small benefit to Canada’s economy from stronger US demand arising from recent tax changes. However, as uncertainty about the future of NAFTA is weighing increasingly on the outlook, the Bank has incorporated into its projection additional negative judgement on business investment and trade.

The Bank continues to monitor the extent to which strong demand is boosting potential, creating room for more non-inflationary expansion. In this respect, capital investment, firm creation, labour force participation, and hours worked are all showing promising signs. Recent data show that labour market slack is being absorbed more quickly than anticipated. Wages have picked up but are rising by less than would be typical in the absence of labour market slack.

In this context, inflation is close to 2 per cent and core measures of inflation have edged up, consistent with diminishing slack in the economy. The Bank expects CPI inflation to fluctuate in the months ahead as various temporary factors (including gasoline and electricity prices) unwind. Looking through these temporary factors, inflation is expected to remain close to 2 per cent over the projection horizon.

While the economic outlook is expected to warrant higher interest rates over time, some continued monetary policy accommodation will likely be needed to keep the economy operating close to potential and inflation on target. Governing Council will remain cautious in considering future policy adjustments, guided by incoming data in assessing the economy’s sensitivity to interest rates, the evolution of economic capacity, and the dynamics of both wage growth and inflation.

Provided by the Bank of Canada. For full details click here: https://www.bankofcanada.ca/2018/01/fad-press-release-2018-01-17/

I just finished uploading this Townhouse for sale, #2 5365 205 Street, Langley, BC

MORNINGSIDE ESTATES- 45+, 2 BED, 2 BATH RANCHER. Centrally-located community of well-maintained homes, close to transit, shops, walking trails, & Senior's Center. BEDROOM ON MAIN plus another up. Master bedroom in loft features full en-suite, large closet, extra sink, & new upper balcony with view to Nature Reserve. Kitchen provides lots of counter space & room for full table set or TV area. Living room features gas fireplace with rock surround, skylights, & sliding glass door opening onto private patio with hedge. Laundry room with full-size side by side washer & dryer. Many updates - new paint, baseboards, Decora switches, new laminate thru main floor, carpet on stairs to loft, gutters, dishwasher, furnace, roadway re-paved. Lots of life left in roof & faschia recently repainted. Single garage PLUS extra stall near front door. Pets OK. Self-managed by Proactive strata; low monthly strata fee of $238. View anytime; Flexible move-in dates.

Please note the change for this upcoming openhouse.

We are proud to announce that this Dec 17th, 1:00 PM to 2:30 PM we will be hosting an Open House at 20962 48 Ave. in the NEWLANDS neighborhood, Langley. This is an opportunity to visit this excellent House for sale in beautiful NEWLANDS.

Please come with any questions you may have. In the meantime you can take a virtual tour of this NEWLANDS House for sale.

As always please do not hesitate to give me a call at 604.533.3491 if I can answer any questions before the open house, or if you would like to book a private showing.

Tammy Evans, Personal Real Estate Corporation
Treeland