25 Apr

20+ Family Garage Sale – Saturday, April 27 9AM

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17th Annual Neighborhood Garage Sale
Sponsored By The Walker Real Estate Team
Saturday, April 27 @ 9:00am

Bell Park:
13896 19A Ave. – fishing poles and tools
13836 19A Ave.- Stoke baby crib and attachments, Boon high chair, play pen, Thule toddler bike seat,
toddler bikes/helmets/toys and much more
1983 138 Str. – household items
13669 19A Ave.- lawn chairs, household items, kid stuff
13651 19 Ave. – small household items, bikes, sporting equipment and furniture
1874 136A Str. – house hold items, books, lamps, ladies clothing, kitchen dishes
13701 18A Ave. – fishing poles and tackle
13768 18A Ave. – household items, bar fridge and tools
13885 18A Ave. – ikea child white desk chair, Norco mountain bike, outdoor shrubs and perennials, household items, large artificial fig tree

Bell Park South:
13826 18 Ave. – power and handle tools for work working and construction, 2 large dog carry crates, beach and surf toys
1722 137A Str. – furniture, women’s clothing, x box, electronics and household items
1729 137A Str. – 3 sets near new tires, adult mountain bikes,1972 Chevy truck parts, tools
1743 137A Str. – 3 family sale, decorative planters, fit bit, copper cookware, china, canner, toys

Chantrell Park Estates:
2061 139 Str. – small household items, lululemon and name brand clothing, 2000 Toyota Corolla VE, 18,000 kms, $1800, motorized scooter and perennial plants
2086 139 Str. – smaller household items and garden plants, computer parts, hardware, books, stationery/office supplies, clothing & some small furniture, stuff for guys like tools, Lots of unique items

Elgin:
2988 141 Str. – tools, camping and marine items, household goodies, lazy boy chair
14099 31A Ave. – renovation items, black 4 burner gas cook top, stainless steel microwave with trim kit, single beds, cloths, small appliances, toys

Morgan Creek:
3263 Crosscreek Crt. – 4 bike: bike rack, electronics, 35 ml camera and lenses, household kitchen items, name brand men’s (x-tall) clothing, ladies clothing size 10-12, teaching materials (books, games, craft items and theme decorations)
3432 Canterbury Dr. – house hold items
16029 Morgan Creek Cres. – folding table with 4 chairs, dog kennels

Ocean Park:
12622 & 12647 19A Ave. – stroller, child rain coat, rain shoes, hockey gear, kitchen stuff, toys and books
13550 14A Ave. – shoes and clothing (new and used), new prom dress with tag, toys, black/white board, kitchen supplies: bread maker, fryer, plates, bowls. Evenflo high chair, bags/handbags, school supplies, various musical instruments, and related supplies/musical books, speakers, antique bike, jewellery phone cases
1955 138 Street – sofas, outdoor tables and chairs, garden tools, kitchen utensils, wine sets, small appliances, bedding, decorations, ornaments

Forest Edge:
14074 24 Ave. – baby products, coffee pots, cups, clothes, shoes, baking utensils, bird cages, chairs, lighting

Meridian By The Sea:
14977 22 Ave. – garden water pipe, sprinkler equipment, ski dryer, baby bed

Morgan Creek:
3608 Sommerset Cres. – car seat, kid bicycle, skate shoes, scooter, bed mattress, iron pot, kettle, piano, stuffed toys, toy speaking tom cat, toy blocks, shopkins, toy train and wood tracks, toy cars, toy bracelets

Dave, Cindy, Amanda and Kimberly Walker
June Cong
22 Year Emerald Master Medallion Winners
HomeLife Benchmark Realty
1 1920 152 Street, South Surrey, B.C. V4N 4N6
604-889-5004
www.WalkerRealEstate.ca

Cindy and Kimberly Walker
Dominion Lending Centres
Valley Financial Specialists
604-889-5004
www.WalkerMortgages.ca

22 Apr

Residential Market Commentary – Rate hike disappears over the horizon

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The likelihood of a Bank of Canada interest rate increase appears to be getting pushed further and further beyond the horizon.

The Bank is expected to remain on the sidelines again this week when it makes its scheduled rate announcement on Wednesday.

A recent survey by Reuters suggests economists have had a significant change of heart about the Bank’s plans. Just last month forecasters were calling for quarter-point increase in the third quarter with another hike next year. Now the betting is for no change until early 2020. There is virtually no expectation there will any rate cut before the end of next year.

The findings put the Bank of Canada in line with the U.S. Federal Reserve and other major central banks. World economies have hit a soft spot largely due to trade uncertainties between China and the United States. Canada is also being affected by depressed oil prices and a slowdown in the housing market.

Market watchers will be paying close attention to the Monetary Policy Report that comes with this week’s BoC rate setting. Realtors and mortgage lenders have been pressuring for some loosening of the B20 stress test to allow some life back into the market. The odds are against the Bank advocating for any easing. Canadian households are still carrying record high debt loads and there are growing expectations of a recession within the next two years.

16 Apr

Home sales remain in a “holding pattern” says CREA

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Canadian home buyers continue to accept and adjust to the new realities of the market, but that doesn’t mean they are happy about it.

A home ownership survey conducted earlier this year suggests nearly 40% of homeowners see themselves as being (or having been) “house poor”. That means they are spending more than 30% of their total income on housing; mortgage, taxes, utilities and maintenance. More than 90% of the respondents say that kind of money stress could have mental health effects. While 51% say they would not put themselves in that position, just about all of the other half, 47%, say it would be worth the sacrifice.

This represents an opportunity for brokers who can provide practical advice, tailored to the needs of their clients. Being available and providing information in real time goes a long way to easing anxiety and tensions for a home buyer.

The survey also shows signs that home buyers may be polarizing between those who believe they can go it alone and those who feel they are going to require financial help. The number of buyers who feel they can go solo is 32%. The number planning to get help from family is 28%. The traditional model of buying a home with a partner or spouse has seen a decline, down to 42% compared to 49% in 2017.

The survey finds a full two-thirds of Canadians believe it is better to own than to rent.

16 Apr

Home sales remain in a “holding pattern” says CREA

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The spring season is a mixed one for Canada’s housing markets with some showing gains while others remain under pressure.

More than a year on from the introduction of mortgage stress tests, the impacts are still being felt and new measures to help buyers have not yet taken effect.

Despite some positive economic conditions, the Canadian Real Estate Association reports that activity remains at some of the lowest levels in years.

Home sales via Canadian MLS® Systems edged up 0.9% in March 2019 following a sharp drop in February while actual (not seasonally adjusted) sales activity fell 4.6% year-over-year to the weakest level for the month since 2013; and was also almost 12% below the 10-year average for March.

“March results suggest local market trends are largely in a holding pattern,” said Gregory Klump, CREA’s Chief Economist. “While the mortgage stress test has made access to home financing more challenging, the good news is that continuing job growth remains supportive for housing demand and should eventually translate into stronger home sales activity pending a reduction in household indebtedness.”

Mixed markets
There are some areas where things are improving.

While sales in British Columbia, Alberta and Saskatchewan were more than 20% below their 10-year average for March, activity is running well above-average in Quebec and New Brunswick.

New listings rose 2.1% in March with new supply increasing in about two-thirds of all local markets, led by Winnipeg, Regina, Victoria and elsewhere on Vancouver Island. New listings declined in the GTA, Ottawa and Halifax-Dartmouth.

There were 5.6 months of inventory on a national basis at the end of March 2019.

The national sales-to-new listings ratio eased to 54.2% from 54.9% in February.

Prices are down
The Aggregate Composite MLS Home Price Index declined by 0.5% year-over-year in March, the first decline of that size since September 2009.

In British Columbia, prices were down on a y-o-y basis in Greater Vancouver (-7.7%) the Fraser Valley (-3.9%), and the Okanagan Valley (-0.8%). By contrast, prices rose by 1% in Victoria and by 6.4% elsewhere on Vancouver Island.

For the Greater Golden Horseshoe housing markets tracked by the index, benchmark home prices were up from year-ago levels in Guelph (+6.6%), the Niagara Region (+6.0%), Hamilton-Burlington (+3.7%) the GTA (+2.6%) and Oakville-Milton (+2.3%); but fell in Barrie and District and remained below year-ago levels (-6.1%).

Across the Prairies, supply remains historically elevated relative to sales and home prices remain below year-ago levels. Benchmark prices were down by 4.9% in Calgary, 4.4% in Edmonton, 4.6% in Regina and 2.7% in Saskatoon. The home pricing environment will likely remain weak in these cities until demand and supply become more balanced.

Home prices rose 7.6% y-o-y in Ottawa (led by a 10.4% increase in townhouse/row unit prices), 6.3% in Greater Montreal (led by an 8.1% increase in apartment unit prices) and 2.1% in Greater Moncton (led by a 12.9% increase in apartment unit prices).

Sidelined buyers
“It will be some time before policy measures announced in the recent Federal Budget designed to help first-time homebuyers take effect,” said Jason Stephen, CREA’s President. “In the meantime, many prospective homebuyers remain sidelined by the mortgage stress-test to varying degrees depending on where they are looking to buy.

8 Apr

5 year feature rates

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Insured Purchase/Transfer: Fixed 3.19% or ARM P-1.00%
Conventional ARM (up to 80%, 25 year am): ARM P – 0.45%
Conventional Special (up to 80%, 30 year am): Fixed 3.29%

8 Apr

IMF says Canada’s housing market is risky, similar to the bust

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The International Monetary Fund has expressed concern about rising risk in the Canadian housing market.

The IMF’s Global Financial Stability Report says that the risk has grown over the past two years and is near to levels seen during the financial crisis of the last decade.

However, there’s a major difference between then and now; the action taken by Canadian regulators to ensure that the financial system is robust and able to withstand another crisis.

While the B-20 mortgage guidelines – and the stress test in particular – has many critics, the IMF says that tougher mortgage policy and measures such as foreign buyers’ taxes, are the correct ones to protect the financial system from downside risks from the housing market.

Canada up, USA down
While Canada’s housing market has become riskier, the report says that the US risk is lower than it was due to declining levels of household debt and prices more in line with income.

But it says that Canadian markets have become riskier, especially Hamilton, Toronto, and Vancouver.

3 Apr

17th Annual Garage Sale – Sat, April 27, 9 am

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  • Location: Drive ways of targeted residents: Bell Park, Amble Greene, Elgin Park, Chantrell Creek, Morgan Creek and Grandview Subdivisions.
  • We advertise in local paper/social media/Craig’s List and Kijiji, www.WalkerRealEstate,ca/Blog, plus provide signage and area maps
  • Details or sign up contact: Kimberly Walker 778.828.6186 or

kimberlywalker@dominionlending.ca (ensure you receive our confirmation)

  • Final sign up date: April 18, 2019(include your name, address, and any big ticket items

 

 

 

3 Apr

Fraser Valley market sees typical spring increase in March sales

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SURREY, BC — Last month, buyers in the Fraser Valley took advantage of the continued stability in home prices and the highest inventory levels for March since 2015.

The Fraser Valley Real Estate Board processed 1,221 sales of all property types on its Multiple Listing Service® (MLS®) in March, a 24.3 per cent increase compared to sales in February 2019, and a 26.6 per cent decrease compared to the 1,664 sales in March of last year. Of the 1,221 total sales, 462 were residential detached homes, 300 were townhouses, and 346 were apartments. This was the lowest sales total for the Board during March since 2013.

Darin Germyn, President of the Board, said of the market: “From a buyer’s perspective, there are more opportunities available as we move deeper into spring. Many of our communities are seeing higher inventory levels, especially in the attached market with the number of available townhomes almost doubling and Fraser Valley condos more than doubling compared to last year.”

There were 7,011 active listings available in the Fraser Valley at the end of March, an increase of 9.4 per cent compared to February 2019’s inventory and an increase of 46.2 per cent year-over-year.

The Board received 2,872 new listings during the month, a 29.6 per cent increase compared to February 2019’s intake of 2,216 new listings and a 0.2 per cent increase compared year-over-year.

“One of the reasons our market has remained stable is simply due to affordability. Although prices have increased dramatically over the last ten years, during the last twelve months we’ve seen prices for all major residential property types in the Fraser Valley decrease between four and five per cent. This is good news for buyers,” continued Germyn.

For the Fraser Valley region, the average number of days to sell an apartment in March was 38, and 29 for townhomes. Single family detached homes remained on the market for an average of 38 days before selling.

HPI® Benchmark Price Activity

  • Single Family Detached: At $963,100, the Benchmark price for a single family detached home in the Fraser Valley increased 0.4 per cent compared to February 2019 and decreased 4.2 per cent compared to March 2018.
  • Townhomes: At $517,300, the Benchmark price for a townhome in the Fraser Valley in the Fraser Valley increased 0.3 per cent compared to February 2019 and decreased 4.5 per cent compared to March 2018.
  • Apartments: At $418,000, the Benchmark price for apartments/condos in the Fraser Valley increased 2 per cent compared to February 2019 and decreased 5.1 per cent compared to March 2018.