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Adam Skalicky

New Listing – 45675 MARSHALL AVENUE | $524,900

Over 3000 sq ft extensively updated with fresh paint, tile, carpet & laminate flooring. Brand new kitchen. Built and completed originally suited. This is a rare gem. Large fenced side yard. Gated and fenced backyard with storage area. Side covered patio with southern sun and views. large double car garage. Perfect as an investment opportunity!

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New Listing – 512 Cottonwood Place | $474,900

** SOLD **  This home sold within 30 days and 95%  asking price!

Mulitple showings. Great feedback.

 

2 bedroom rancher with den. Large manicured yard backs green space and forest. Trails for hiking near by. Detached garden shed and privacy make this home a catch in beautiful Harrison Hot Springs.

 

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New Listing – 45885 LAKE DR Sardis, BC V2R 3T3

Great family home in the beautiful Sardis Park neighborhood on Lake drive. This home is right across the street from the entrance to Sardis Park where you can feed the ducks, run and play as well as leisurely walk the trail around the water. This is a unbelievable home to raise your family. It is a short walking distance to elementary school. This home boasts an amazingly updated kitchen that opens to a generous living and dining area with hardwood floors. Main bath is like the Ensuite; with granite countertops. Newer windows, air conditioning, and a large private fenced yard make this the place to call home. Move in ready. Call to view today! This one wont last long.

 

Click here for more details

New Listing In Sardis

Phenomenal 6 bedroom 4 bath home in Sardis for just $569,900

 

Totally renovated home, licensed to have a suite. There are 4 bdrms on main home with fireplace, granite counterop, & 2 bdrm on the other side. All brand new carpet & tile, countertop, appliances, fixtures. Very nicely finished. Landscape is professionally done; The most desirable Sardis area. Separate entrance, both sides have their own washer & dryer, ready to be occupied.


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Open House 1:30PM – 3:30PM at 5476 Highroad Crescent

Come join us for a open house at 5476 Highroad Crescent, Chilliwack BC at 1:30PM – 3:30PM.

Want to see the property before hand? Click here.

Q1 State of the Market Report: Metro Vancouver Real Estate

Comprehensive and independent market intelligence on the Metro Vancouver real estate market—
The Urban Development Institute’s quarterly State of the Market report examines new-home and resale markets, immigration, global and local economic factors and affordability. It’s a quick and worthwhile read.

REW.ca and Glacier Media are proud to be involved as sponsors.

Here is the summary by the report’s authors, Michael Ferreira and Jon Bennest of Urban Analytics Inc.

Click here for full Q1 State of the Market report

Local Economic Factors

Key economic factors in Metro Vancouver continued to be positive in Q1-2014. Metro Vancouver’s unemployment rate continues to move lower. According to the most recent Statistics Canada update, the local unemployment rate dropped from 6.3% to 5.9%. Anecdotally, it has been reported that the Gen Y demographic is becoming more active in the real estate market compared to previous years/quarters. An example of this is the Fraser Valley, where new townhome sales totals in Q1-2014 were the highest recorded in 5 years. Overall sales in this market were positively impacted by the first-time Gen Y buyer.

Global Economic Factors

It is likely too early to tell if the Government of Canada’s decision in February to end the currentinvestor immigration program will have any significant impact on Metro Vancouver’s housing market. Research conducted by local immigration experts indicates that the cancellation will not have as negative of an impact as many initially assumed.

Arguably the most impactful global event in Q1-2014 has been the civic and political situation in Ukraine. This event and the ‘Polar Vortex’ have been cited by economists as the primary causes for the recent spike in gasoline prices. As a result, walkable locations that provide convenient transit options continue to become more desirable for people attempting to wean themselves off of frequent car use.

Higher oil and gas prices have had a positive impact on Canada’s largest stock index, the TSX. Since January 2014, the overall TSX index has increased by 8%. As of April 2014, the index has moved up above 14,600 and is nearing the all-time high of 15,000 achieved in May 2008.

We hope that you enjoy this edition of the report and find it to be informative, helpful and convenient. As always, we welcome any feedback or comments on the publication.

Sincerely,

Urban Analytics Inc.
Michael Ferreira, Jon Bennest

Cited from rex.ca

Check out my latest listing on Williams St

Spacious detached home on Williams St for just $424,900

New Listing, 5476 Highroad Cr. In Chilliwack!

Beautiful 3 bedroom home on Highroad Crescent for only $379,000

New Budget from BC Government Announced

The BC Government released Budget 2014/2015 today. The most direct and immediate announcement for REALTORS® is:

Property Transfer Tax
Effective for registrations on and after February 19, 2014—tomorrow—the Property Transfer Tax exemption threshold under the First Time Home Buyers’ Program is increased to $475,000 from $425,000, with the partial exemption/phase out applying between $475,000 and $500,000.

Government information online has already been updated: www2.gov.bc.ca/gov/topic.page?id=BBD16E2D7C1841A7BBD420E3AC5380F1.

The government estimates that approximately 1,700 first-time buyers will benefit this year, saving an average of $4,000 at a cost to government estimated at $8 million. According to BCREA Chief Economist Cameron Muir, who was in the budget lockup today, Minister de Jong stated that this tax measure is a “start” and a “beginning” of relief to the PTT. PTT revenue is forecast to decline 10.6% in 2014/2015, before increasing at 1.2% in each of the following years.

Fiscal   year Forecast   PTT revenue
2013/2014 $899   million
2014/2015 $804   million
2015/2016 $820   million
2016/2017 $834   million

Home Owner Grant
For the 2014 tax year, the Home Owner Grant threshold for phase out will be decreased from $1,295,000 to $1,100,000. For properties valued above the threshold, the grant is reduced by $5 for every $1,000 of assessed value in excess of the threshold. The threshold captures at least 93.8% of homeowners as opposed to 95% previously. The measure is estimated to provide an additional $11 million in revenue.

And these are Cameron’s other observations on the budget:

The BC government’s “Balanced Budget 2014” is both fiscally conservative and surplus oriented. In addition to a conservative economic growth forecast (2% in 2014, 2.3% in 2015 and 2.5% in 2016), the projected surplus (see table below) is cushioned by a doubling of the forecast allowance, after falling to just $100 million in 2013/2014.

Fiscal   year Forecast   surplus
2013/2014 $175   million
2014/2015 $184   million
2015/2016 $206   million
2016/2017 $451   million

The budget also incorporates expense contingencies of $300 million, $400 million and $575 million over the next three years. After climbing to 18.5% (Ontario=37.4%/Canada=33%), the ratio of debt-to-GDP in the province is forecast to decline to 17.8% over the three-year fiscal plan.

Other tax measures include:

  • Increasing tobacco tax by 32      cents per pack, raising an estimated $50 million (Note: Federal government      raised tobacco taxes by 40 cents per pack at last budget).
  • New Early Childhood Tax Benefit      of $55 per month per child under six years of age effective Apr. 1, 2015.
  • Extend BC mining flow-through      share tax credit, Jan. 1, 2014.
  • Phase out corporate income tax      preference for credit unions, Jan. 1, 2016.
  • Extend Distant Location Tax      Credit to Capital Regional District, Feb. 19,v2014.
  • Extend Scientific Research and      Experimental Development Tax Credit, Sep. 1, 2014.
  • Increase Medical Services Plan      premiums and enhance premium assistance, Jan. 1, 2015.

Full budget information available online: www.bcbudget.gov.bc.ca/2014.

Fraser Valley Real Estate – Reviewing the Year 2013

It was a great year in Fraser Valley real estate. The Fraser Valley Real Estate Board (FVREB) has a recap of the events in 2013 that made the real estate news. “It wasn’t the best of years, nor was it the worst,” said Ron Todson, FVREB president. He continues to state that generally speaking, 2013 overall was a quiet year, our market felt the impact of the tighter mortgage regulations, rebounded some in the summer and then flattened out again come fall.

The positive for both buyers and seller has been the stability in home prices. Although our sales last year were among the lowest they’ve been in the last decade, we didn’t see significant price declines because our inventory also remained lower.

With the year’s end being normally slow for sales, there were 758 homes sold in the last month of 2013. Slightly lower the previous month where 864 were sold. There is always an exception as in Surrey Central. Surrey sales were up in December for single-family homes, Townhouse sales increased by 9.4% in the S. Surrey/White Rock area, 26.1% in Cloverdale and a whopping 4.9% in North Surry.

Compared to the same time period last year sales were up considerably. Which can signify the market is gaining, but 2013 was still the in the top 5 of the lowest sales years. The housing market is showing signs of stabilizing and bouncing back to sales that have not been seen in 10 years.

Overall, the market is forecast to steadily increase over the next few years. Home prices are expected to stay the same or climb slightly. The market itself will keep up with the demand for housing. The average price of a home in 2014 is slated to rise around 1.8 percent and another 1.7 percent in 2015.

With the economy in the US improving, the outlook for Canada is following right along. The housing market is on its way back.

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