The Fraser Valley Real Estate Board is an association of 2,894 real estate professionals who live and work in the BC communities of North Delta, Surrey, White Rock, Langley, Abbotsford, and Mission. The FVREB marked its 90-year anniversary in 2011.

Top floor classy executive condo at Garibaldi Lane. Largest unit for the price at list date! 1268 SF of open concept. 2 large bedrooms, 2 full bath, high ceilings, extensive use of crown molding, warm contemporary colors. A/C. Shows as new ! Flawless and clean. Large 14" by 13" master bedroom. Incredible huge en suite with soaker tub, in floor heating and vanity accent lighting. You will be in heaven! Large in suite laundry/storage with tons of custom shelving. Additional storage unit down. 2 parking spots. Central location. West facing inside corner unit with large balcony. Engineered hardwood throughout. Shop and compare. If you want true class in a beautiful home, you have come to the right place. Come and get it!

This is really nice condo in a great location. We have new appliances, new floors, new lighting, recent paint. Located in walking distance to all the services and amenities you would need including Guildford Mall, theatres, T&T Market, 22 sushi restaurants and the others. Top corner, 2 balconies with pleasant views, vaulted ceiling, in suite w/dryer and supported by a great management co. Two underground parking stalls, bike room, sauna, hot tub, LARGE workshop, hobby room and Green Timbers Park walking trails (bring your fishing pole).

RARELY AVAILABLE 3 level condo with a real townhouse feel. Enter through a quaint garden courtyard and into your spacious 1300 sq ft home. Features 2 huge bedrooms, walk in closet (currently used as a sewing den), bright skylight, insuite laundry and insuite storage galore! Look forward to entertaining on your very own 250 sq ft deck (included in total sq ft) overlooking luscious greenery. Proactive strata in this well maintained pet-friendly complex. New roof completed 2010. Desirable neighbourhood nearby schools, community centre, Starbucks, shopping, transit plus easy access to Hwy. Come feel at home, this is the one to see!

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SURREY, BC – According to the president of the Fraser Valley Real Estate Board (FVREB), international affordability studies regarding Vancouver are misleading because they don’t reflect the reality that homebuyers purchase more affordable homes every day in neighbouring communities.

Sukh Sidhu is a REALTOR® who lives and works in Abbotsford. “So far this month, over 50 homebuyers in the Fraser Valley have purchased a condo for $199,000 or less and over 100 families are now proud owners of townhomes valued at $399,000 or less.

“About one-third of our buyers are first-timers and two-thirds are using equity from an existing home to either buy up or down size and they’re thrilled with the value and benefits home ownership provides.”

According to a recent Demographia International Housing Affordability Survey, Vancouver ranks the second most unaffordable major housing market in the world based on median household income and a median home price of $678,000.

Based on January sales to date, the median home price in Fraser Valley is $405,000. Sidhu says, “To buy that home, you would need about $80,000 as a household income, however to buy a typical condo or townhome in Surrey or Abbotsford for example, you need less than $60,000 as a household income.

“We’re not suggesting that affordability isn’t an issue in Greater Vancouver. In fact, REALTORS® in BC are amongst the most active proponents of strategies to make home ownership more accessible. What we are saying is that these broad, general studies don’t reflect what’s really happening within the local housing market.”

The FVREB is scheduled to release its final January month-end sales statistics from its Multiple Listing Service® during the first week of February.

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RARELY AVAILABLE 3 level condo with a real townhouse feel. Enter through a quaint garden courtyard and into your spacious 1300 sq ft home. Features 2 huge bedrooms, walk in closet (currently used as a sewing den), bright skylight, insuite laundry and insuite storage galore! Look forward to entertaining on your very own 250 sq ft deck (included in total sq ft) overlooking luscious greenery. Proactive strata in this well maintained pet-friendly complex. New roof completed 2010. Desirable neighbourhood nearby schools, community centre, Starbucks, shopping, transit plus easy access to Hwy. Come feel at home, this is the one to see!

Rarely available home on the desirable Fortune Avenue. Renovated bright kitchen, stylish bathrooms, new flooring, modern paint scheme, new furnace (2010), new roof (2005) and many other updates! Open concept kitchen/dining/family for spacious everyday living. Plus a formal living/dining rms separated by French doors = ideal for entertaining. New XL double glazed windows in the dining space overlooks the garden edged brick surfaced yard. Upstairs features 5 bedrooms (or 4 bdrms and 1 huge games rm). Enter your Master suite through French doors and into your own oasis. Spacious Master bdrm features a built-in mirrored vanity space, walk in closet and a relaxing jetted tub in your private ensuite bathroom. This is a must see!

Prime bright SOUTHWEST corner 2 bedroom 2 bath apartment at GATEWAY in the heart of the fastest growing area of North Vancouver. High-end finishing, solid stone counters, soft touch drawers, rich dark HARDWOOD flooring, panoramic glass, large insuite storage with bonus storage LOCKER and building warranty in place. Relax in your 4pc spa inspired master ENSUITE bath w/ separate tub/shower. Open floor plan with panoramic windows centered by a cosy GAS fireplace. Walking distance to transit, shops, restaurants and the heart popular Marine Drive.

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Steps to the dyke! END UNIT with 2 side by side parking right next to your door. Large kitchen with plenty of room for an eating area. Living/Dining rm features a fireplace, light fixtures on dimmer switches and a large sliding glass door bright, private fenced yard. Entertain on your large concrete patio for easy maintenance (but you're right next to a greenbelt) and it's one of the only units w/both side and back entrance. The unit also comes with a storage shed in the back, storage unit in the front plus plenty of insuite storage too! Updated flooring, 2010 HW tank and more! Your master bedroom features a private deck (rare in the complex) and a mirrored wall to wall closet w/built-ins for ideal storage.

"There are 3 kinds of lies: Lies, Damned Lies, and Statistics"

- Mark Twain

There's no doubt that real estate is an interesting topic of conversation for the public. The media, in an attempt to feed this appetite for real estate news, often publishes interesting pieces of real estate information that help sell papers. Due to this heavy dose of constant real estate news, it's important to understand how the data is collected and how to interpret the information.

Below are the 3 most commonly misunderstood statistics in the media:

1) Housing starts rise 1.9%!
(http://www.vancouversun.com/life/Housing+starts+cent+June/5083165/story.html)

This shouldn't really matter to buyers or sellers out there. While this is related to the real estate market, it is more relevant for the construction industry than it is to the resale housing market.

Remember, these are new home construction figures: not sales or pricing numbers. Unless you’re a construction worker or materials’ supplier, this type of information is largely irrelevant to your real estate decision-making process.

2) Home sales drop 42%!
(http://www.cbc.ca/canada/british-columbia/story/2008/10/02/bc-real-estate-values-vancouver-september.html)

This kind of information is important for buyers and sellers to know and also helpful for realtors to use. A drop in home sales is sometimes a precursor to lower prices down the road. That said, there are a multitude of reasons that home sales could slow that wouldn’t also result in a corresponding drop in prices.

It is therefore important to remember that these are unit sale figures, not price figures. These statistics are generally also seasonally adjusted to reflect the fact that sales tend to be slower in the winter and summer as opposed to the spring and fall. You should talk to a professional to see whether a drop in sales velocity is because of a slowing market or because of some other extraneous event.

3) Average House Prices Expected to Rise 13% this year!
(http://www.vancouversun.com/business/Home+prices+rise+cent+this+year+report/5030251/story.html)

This is the most misunderstood of the media reports that come out. Yes, it is true that Average Canadian Home Prices in 2011 will likely show a significant increase over 2010; however, as we’re already half way through the year, much of the increase has already occurred.

Many real estate boards also release data that shows the Benchmark price of a home. This is a much more accurate look at the current state of the real estate market than the average price. The Benchmark price is the current price of an average home in a given market area rather than the average price of all of the homes in a given market area. The difference is subtle, but substantive. The average price simply takes the price of all units sold in a given market area and divides it by the number of units sold. It therefore can be skewed by a strong luxury market, like the one currently being experienced in many Metro Vancouver markets.

Remember to always read real estate statistics with an eye to these issues and you’ll become a more accurate analyst of the market.

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Pricing is an art that some Realtors understand better than others. A reasonably-priced property will maximize your chance of success at a fair price.

Properties that are priced too high likely have unreasonable and/or unmotivated sellers. These properties will likely sit on the market for a good period of time before the seller’s expectations lower or their motivations increase. In the interim, it is unlikely that you will convince the seller to accept a market-priced offer.

Properties that are priced too low will likely solicit multiple offers: an unpleasant situation for most buyers. A very general rule-of-thumb is that, in a multiple offer situation, 2 offers will solicit full price, 3 offers will achieve a 5% premium, while 4 or more will see 10%+.

2) Don’t Low-Ball

As a Buyer, your goal should be to get the property you want at a reasonable price. Unless you are lucking into exceptional circumstances, low-balling decreases your chances of achieving this goal.

You will routinely see Sellers being ‘insulted’ with the low offer and simply not counter, either out of spite or out of a belief that a deal is unreachable. In this scenario, if you really like the property, your only response would be to tender a completely new offer. In this case, you’ve tipped your hand that you really like the property and your negotiating position has been compromised.

Conversely, very low offers are often countered with very little movement on the Seller’s side. Like in the first case, your only option at that point is to move even further on your next counter. Once again, you’ve compromised your negotiating position while also making the Seller an adversary rather than a partner.

3) Pay to the Point of Indifference

If you do happen to get into a multiple offer situation, your bargaining position is limited to your best offer. In this case, your realtor should provide you a Comparative Market Analysis (CMA) for you to make an informed decision and you should come in with your best offer. In this case, your offer should be to the point of indifference, which means that you’re paying up to the point you believe the property is worth to you, and if you lose to a competing bid that is $100 higher than your offer, you will not regret your bid.

If you want more information, please do not hesitate to contact me.

Ideal for families! Excellent Value! Situated on a quiet street in central Ladner. Practical layout, including 2 balconies & plenty of storage. The large bright kitchen and dining area are great for a family and makes entertaining a pleasure! Recent renovations include fresh paint throughout, new carpets & laminate flooring, light fixtures,new windows, window coverings, updated bathrooms & new furnace. Relax on your large west facing patio or covered deck. Close to schools, shopping & recreation!

Regency Court II - a signature project from European builder TMC Developments. Every home features engineered hardwood floors, granite counters, stainless appliances, and Riobel faucets accompanying deep sinks. Detailed finishing, such as crown moulding, baseboards, a beautiful mantle, and a cozy fireplace, accent this air-conditioned unit, which also includes a deep soaker tub. The entrance lobby showcases a hand painted mural with a lavish chandelier and hand-set tiles, while hallways are decorated with wainscoting, recessed lighting, and security cameras for additional peace of mind. Call for a private appointment.

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View this recently sold Condo or see all my home sales