What features do I want in a home?
What features do I need in a home?Looking for a new home can seem overwhelming at first. There are so many things to think about, so many choices, and often not enough time.
A small investment of time and effort right at the start can pay tremendous dividends. Take the time to organize your thoughts and think seriously about what sort of home you want before you start looking. It will simplify the process, save you time, and help lead you to the right home for you.
Make sure that you talk to a REALTOR® before you start your search to help you get organized, answer your questions, and also to raise important questions to ask yourself, such as:
Where do I want to live? (community/general area)
How much should I expect to spend on purchasing a home?
Are schools a factor?
Do I want an older home or a new one?
What style of home do I prefer? (ranch, colonial, split-level, multi-level, town home, condominium, multi-family, bungalow, other)
How much renovation and remodelling am I willing to do?
Is being close to public transportation important?
Do I have special physical requirements, such as wheel chair access?
Do I have pets to consider?
What sort of lot would I like? (small yard, large yard, fenced, garage, patio/deck, other buildings)
How many bedrooms do I need? How many would I like to have?
How many bathrooms do I need? How many would I like to have?
How big a house do I want? How many rooms? How many square feet?
What features are important? (air conditioning, carpeting, ceramic tile floors, hardwood floors, eat-in kitchen, separate dining room, formal living room, family room, den, library, basement, separate laundry room, fireplace, workshop, other)
Source: royal lepage
Monday, April 27, 2009
Thursday, April 23, 2009
Signs of Optimism in Fraser Valley Market!
SIGNS OF OPTIMISM IN FRASER VALLEY REAL ESTATE MARKET
April 2, 2009
(Surrey, BC) - Fraser Valley REALTORS® credit first-time homebuyers, low interest rates and greater overall confidence in the housing market for an increase in sales on the Multiple Listing Service® (MLS®) in March.
The Fraser Valley Real Estate Board reports 1,006 sales were processed in March, reflecting a 24 per cent decrease compared to the 1,315 sales in March of last year, however, a 48 per cent jump from February’s 682 sales. March is the first month to surpass one thousand sales in the Fraser Valley since July of last year, reflecting more typical March sales totals last seen in the early 2000s.
Paul Penner, President of the Board, confirms real estate activity has picked up. “REALTORS® are seeing the return of first-time home buyers who have been waiting in the wings for the last few months, and homeowners responding to the opportunity to buy-up by moving from a condo to a townhome or a townhome to a detached house. Homes with a lower price-point are attracting more attention.
“With current interest rates and price reductions, buyers are looking at monthly costs that are 20 per cent less than they were a year ago. In Fraser Valley, that’s a $780 per month savings on a mortgage for an average detached home.”
Property selection continues to moderate from the record levels of over 12,000 active listings reached in September 2008. The Board received 7 per cent fewer new listings in March compared to the same month last year – 3,028 compared to the 3,277 last year – taking the total number of active listings to 9,832, an increase of 14.7 per cent compared to the 8,570 active listings available in March of last year.
Residential benchmark prices, the value of a ‘typical’ Fraser Valley detached home as determined by the MLSLink® Housing Price Index (HPI), decreased 10.6 per cent compared to March 2008, however, increased slightly, 0.7 per cent, for the second consecutive month. The benchmark price was $459,841 in March 2009 compared to $514,616 last year. As well, detached homes sold on average, 10 days faster in March than they did in February.
The HPI benchmark price of Fraser Valley townhouses decreased by 10.3 per cent in one year, going from $329,859 in March 2008 to $295,809 in March 2009, while the benchmark price of apartments decreased by 10.8 per cent going from $254,664 in March of last year to $227,188 in March 2009.
Source: The Fraser Valley Real Estate Board
April 2, 2009
(Surrey, BC) - Fraser Valley REALTORS® credit first-time homebuyers, low interest rates and greater overall confidence in the housing market for an increase in sales on the Multiple Listing Service® (MLS®) in March.
The Fraser Valley Real Estate Board reports 1,006 sales were processed in March, reflecting a 24 per cent decrease compared to the 1,315 sales in March of last year, however, a 48 per cent jump from February’s 682 sales. March is the first month to surpass one thousand sales in the Fraser Valley since July of last year, reflecting more typical March sales totals last seen in the early 2000s.
Paul Penner, President of the Board, confirms real estate activity has picked up. “REALTORS® are seeing the return of first-time home buyers who have been waiting in the wings for the last few months, and homeowners responding to the opportunity to buy-up by moving from a condo to a townhome or a townhome to a detached house. Homes with a lower price-point are attracting more attention.
“With current interest rates and price reductions, buyers are looking at monthly costs that are 20 per cent less than they were a year ago. In Fraser Valley, that’s a $780 per month savings on a mortgage for an average detached home.”
Property selection continues to moderate from the record levels of over 12,000 active listings reached in September 2008. The Board received 7 per cent fewer new listings in March compared to the same month last year – 3,028 compared to the 3,277 last year – taking the total number of active listings to 9,832, an increase of 14.7 per cent compared to the 8,570 active listings available in March of last year.
Residential benchmark prices, the value of a ‘typical’ Fraser Valley detached home as determined by the MLSLink® Housing Price Index (HPI), decreased 10.6 per cent compared to March 2008, however, increased slightly, 0.7 per cent, for the second consecutive month. The benchmark price was $459,841 in March 2009 compared to $514,616 last year. As well, detached homes sold on average, 10 days faster in March than they did in February.
The HPI benchmark price of Fraser Valley townhouses decreased by 10.3 per cent in one year, going from $329,859 in March 2008 to $295,809 in March 2009, while the benchmark price of apartments decreased by 10.8 per cent going from $254,664 in March of last year to $227,188 in March 2009.
Source: The Fraser Valley Real Estate Board
Wednesday, April 22, 2009
Happy Earth Day
Here are a few tips to help green the earth and your bank account! Your home is a great place to start making a contribution. Small changes can have a huge impact!
---- Tank less water heaters : you’ll save one more water heater from ending up at the landfill. Although it may cost more initially, you’ll save money in the long run as water's only heated on demand.
---- Low flow shower head: You will instantly cut down on water usage. If your toilet’s seen better days, consider installing a low flow toilet which will also put money back in your pocket while conserving water.
---- Energy saving light bulbs: consume 75% less electricity than regular bulbs and last up to ten times longer Adding timers or motion detectors outside helps to save even more!
---- Tank less water heaters : you’ll save one more water heater from ending up at the landfill. Although it may cost more initially, you’ll save money in the long run as water's only heated on demand.
---- Low flow shower head: You will instantly cut down on water usage. If your toilet’s seen better days, consider installing a low flow toilet which will also put money back in your pocket while conserving water.
---- Energy saving light bulbs: consume 75% less electricity than regular bulbs and last up to ten times longer Adding timers or motion detectors outside helps to save even more!
10 important pieces of paper!
If a natural disater or fire forced you to flee your home what would you take with you? The following 10 items are just some of the important papers you should keep safe and store in a safe place such as a fire proof lockbox:
-social insurance cards
-birth certificates
-marriage certificate/ divorce papers
-deeds and titles to your home
-home/property insurance policy
-life insurance policies
-banck account/retirement/credit card information
-passport
-list of your assets
-copies of will & trusts
-social insurance cards
-birth certificates
-marriage certificate/ divorce papers
-deeds and titles to your home
-home/property insurance policy
-life insurance policies
-banck account/retirement/credit card information
-passport
-list of your assets
-copies of will & trusts
Saturday, April 18, 2009
Rates drop again!
We have a drop in the prime rate from P+ .80 to P+.75. That is good news as it is a sign that the lenders costs are decreasing. Five year rates have also dropped down.
Just a quick note when you are searching for a mortgage. The lowest rate in the market is not always the best product in the market!
Often the lender will have a great low rate but the mortgage has restrictions on it such as:
-there are no provisions for extra payments or
-it can't be paid out unless you sell your house.
Not all mortgages and rates are the same. Make sure your mortgage works with your future plans.
Just a quick note when you are searching for a mortgage. The lowest rate in the market is not always the best product in the market!
Often the lender will have a great low rate but the mortgage has restrictions on it such as:
-there are no provisions for extra payments or
-it can't be paid out unless you sell your house.
Not all mortgages and rates are the same. Make sure your mortgage works with your future plans.
2 Energy tips to save you money!
1. Enjoy the warmer weather and fresh spring air by walking and/or cycling more, instead of driving. If you walk or bike daily, you can save as much as $3,000 a year in gas, vehicle maintenance and parking!
2. Fight climate change by washing your clothes in cold water. They'll be just as clean and you'll save a lot of energy. Almost 90 per cent of the energy used to wash clothes goes into heating the water!
2. Fight climate change by washing your clothes in cold water. They'll be just as clean and you'll save a lot of energy. Almost 90 per cent of the energy used to wash clothes goes into heating the water!
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