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Jun. 1st, 2017

Delta Highrise - HudsonHomeTeam

The proposed development site on 120 Street and 75A Avenue. (James Smith photo)

 

If approved, it would be the second such development along Scott Road after the 37-story Delta Rise.

A potential 35-storey residential development on Scott Road is advancing to public consultation after approval from council on Monday, May 29.

The application is for a 35-storey residential building with limited commercial space at ground level and several three-storey townhouse units at the northwest corner of 75A Avenue and Scott Road. The building would have underground parking, accessible from 119A Street.

Council’s approval means the consultation process for the proposed development can begin; it does not necessarily mean the development will be approved for construction.

The public consultation process will include placing public notice signs along the properties on 120 Street, 75A Avenue and 119A street; sending notices to surround property owners; holding a public information meeting to introduce the proposed development; and holding a public hearing if the application proceeds past second reading.

 

 

Community planning and development director Jeff Day said the developers want “to move this forward as quickly as possible.”

“I anticipate the public information meeting would happen before true summer comes in,” he continued.

At the public information meeting, information on the building’s amenities will be brought forward. Currently, the development includes limited commercial spaces on the ground floor of the building, including a coffee shop and a business office because, Day said, “we don’t want to dilute the commercial along Scott Road.”

If the development is approved, the six properties covered by the development would be rezoned from multi-unit residential properties and medium density residential properties to mixed use properties.

“It’s just at the preliminary stage right now,” Day said. “There’s a lot of things we need to go through in terms of the form and the character of [the development].”

The development’s design will be brought forward during first and second readings, giving council members and the public a chance to weigh in on what the building would look like.

“At this point, we’re satisfied that it’s developed to a mark … that council would expect where we are able to take it out to the public,” Delta CAO George Harvie said during the May 29 council meeting. “But we always come back with some good additions and modifications based on public consultation.”

If approved, this would be the second high rise along that stretch of Scott Road. Delta Rise, which was officially completed on May 6, 2017, is a 37-storey residential building on 120 Street and 80 Avenue.

The new proposed development is located within the area covered by the Scott Road revitalization bylaw, which has established reduced municipal fees and taxes to encourage commercial and high density residential development along the Delta/Surrey border.

However, the proposed development would not automatically qualify for those bylaw incentives: eligibility has to be determined first.

The application for the building was put forward by developers Arzone Real Estate Investment Ltd. and Hari Homes Incorporated.

Both parties has been involved in other North Delta development proposals in the past, including a 20-unit townhouse development proposal on 84th Avenue and 115 Street.


Delta Highrise drawings  - HudsonHomeTeam


An application for a 35-storey high rise on 120th Street was approved by council on Monday, May 29. The proposed development will no go through several stages of public consultation. (Council report photo)

Delta Highrise drawings 2 - HudsonHomeTeam

An application for a 35-storey high rise on 120th Street was approved by council on Monday, May 29. The proposed development will no go through several stages of public consultation. (Council report photo)

 

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Is Fraser Valley the next big market in the B.C. housing sector?

 

 

Latest numbers from the Fraser Valley Real Estate Board (FVREB) revealed that B.C.’s southwestern region has experienced significant home price growth in February, indicating a possible companion to the red-hot Vancouver market in the near future. Last week, the Board revealed that the benchmark price for a single-family property in the Valley increased by 20.4 per cent year-over-year and 0.4 per cent compared to January, hitting $859,300.

 

 

 

 

“This is the kind of February we like to see. Last year at this time, the incredible demand created a market that was difficult for consumers,”

according to FVREB president Gopal Sahota, as quoted by CBC News.

 

 

“Now, we have sales moving upward from the winter months at a typical, healthy pace and a growing inventory to support it,”
Sahota stated, adding that the numbers are so far showing a “return to normal historical sales numbers.” Apartment prices also rose sharply by 26 per cent compared to February 2016 and 1.8 per cent month-over-month, up to $267,000. Meanwhile, average townhome costs grew by 25 per cent year-over-year and 0.5 per cent since January, reaching $422,400. Recently, Finance Minister Bill Morneau assured that the federal government is still closely monitoring the Canadian housing market, amid seemingly inexorable price growth in Vancouver and Toronto. 

 

“We continue to be very focused on thinking about how we can manage what is peoples’ most significant investment. And we do watch the level of indebtedness, in particular around housing,” Morneau stated, adding that “strong underlying markets” continue to drive the two cities’ outsized performance.  “So in Toronto and Vancouver, unemployment is lower in those two places than it is in some other places. Incomes are higher. The economy is doing better. So there are underlying reasons for the housing markets to do better and we’ll continue to monitor, to work with provinces and municipalities who have an important role to play here to manage what we see [as] a challenge, but not one that isn’t manageable.”

 

 

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In all the excitement and packing, buying & selling, many people forget to take care of some essential items before they move.  Don’t look past these 5 things you need to take care of, or it could cost you $$$.

moving -boxes -HudsonHomeTeam

  1. 1. Take care of all subscriptions: Magazines, memberships, recurring orders, gym memberships.  Get a head start on updating your address or cancelling memberships before charges mount on your credit card.  We suggest you take care of this at least 30 days prior to your move, as many gyms, clubs, and mail subscriptions require this much time for cancellation or updates.
  1. 2. Change your address at the post office: For a small fee Canada Post will allow you to register your new address to ensure all your mail finds its way to your new home.  Leaving bills or an outstanding balance behind, may impact your credit score, as well as lead to accumulated interest charges -–neither of which you are likely o want.
  1. 3. Call utility providers: Cable, internet, electricity, gas, etc…These are all services that you should be making contact BEFORE you move. Many of these services can pivot on a dime so not much notice is required, but we do recommend making contact at least 1 week prior to your move date.  Make a list of required utility providers & check it twice!  Or, you could wind up paying for someone else’s electric bill!

movingbycar - HudsonHomeTeam

4. Manage your motor vehicle insurance: If you are new to British Columbia here is what you need to know; ICBC allows up to 90 days to switch over your license, and 30 days to register, license and insure your vehicle.

If you are moving within the Province, you must update your address within 30 days of moving.  Your auto-insurance policy must always show your current home address and vehicle use, so do not forget to update this information!

5. Get a ‘To-Go’ box ready: Whether you are moving across the country, province, or just down the street, make sure that you have a go-to box ready. This should contain items you will need as soon as you get to your new home; cleaning products, toilet paper, garbage bags, paper towels, clean sheets, fresh towels, paper plates and eating utensils and maybe even a bottle of bubbly to celebrate.


Celebrate - HudsonHomeTeam


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Home sales dropped, prices remained strong and one property type bucked the trend... Let our useful infographic make sense of Fraser Valley real estate stats

REW.ca
January 5, 2017
FVREB-Stats-Dec-2016-crop

Despite a slow December, 2016 was the busiest year on record for property sales in the Fraser Valley, beating out the previous record set in 2005, according to statistics released January 4 by the Fraser Valley Real Estate Board.

Home sales dropped in December but prices remained strong – and one property type saw higher resales than one year previously.

Check out our infographic below to see the breakdown of sales by property type and prices by individual area. 

To read the full story and analysis of Fraser Valley sales from December and the whole of 2016, click here.

 

FVREB-Stats-Dec-2016
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Wednesday, December 28, 2016

Registration begins Jan. 16 for children entering kindergarten in September 2017.

Children who turn five before Jan. 1, 2018 are eligible to start school in the fall.

 


Kindergarten children 2.jpg


Kindergarten registration must be done in-person at your neighbourhood school or school of preference (if space is available). For a map of school catchment boundaries, check here and for a list of all schools, check here.

The following documents are required at the school when registering:

* proof of birth date for the students (eg. birth certificate or passport)

* proof of guardianship (eg. birth certificate or other legal documentation)

* proof of citizenship (eg. birth certificate, passport, citizenship card, landed immigrant document, permanent resident card)

* proof of address (eg. rental agreement, utility bill, driver's license)

Please note that enrolment at several schools in Surrey is already at, or over, capacity and they are therefore unable to accept out-of-catchment registrations.

Specialty and choice programs are also available. Some (French Immersion, Intensive Fine Arts, Traditional and Montessori) require online/lottery application, which begins Jan. 30. For more information or to learn about information evenings being held in January 2017, check here.

Find #SouthSurrey & #WhiteRock homes by School Catchment:


 

Logo 2016 HD


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courtesy of Business Insider

It turns out homebuyers are really into barn doors.


Screen Shot 2016 04 13 at 8.26.06 AM

 

 


When Zillow looked at design features that sell homes at the best price and with the shortest listing time, that feature topped the list. 

Anything craftsman-style, like rectangular farmhouse sinks, also got homes off the market at a premium. 

 

Zillow Digs screened over 2 million listings for homes sold between January 2014 and March 2016 and looked for the keywords that had the best effect on how much more than the expected price and how much faster they sold.  

Here are the top 15 design features:

Outdoor kitchen


Outdoor kitchen

Percent of homes that sell for above expected values: 3.7%

How many days faster than expected the home sells: 19

 

Tankless water heater


Tankless water heater

Percent of homes that sell for above expected values: 4%

How many days faster than expected the home sells: 43

 


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Backsplash

 


Backsplash


Percent of homes that sell for above expected values: 4.1%

How many days faster than expected the home sells: 46

Granite


granite
Percent of homes that sell for above expected values: 4.1%

How many days faster than expected the home sells: 38

 

Stainless Steel

stainless-steel HudsonHomeTeam

Percent of homes that sell for above expected values: 4.2%

How many days faster than expected the home sells: 42

 

Heated floors


heated-floors HudsonHomeTeam
Percent of homes that sell for above expected values: 4.3%

How many days faster than expected the home sells: 28

 

Frameless shower


frameless-shower HudsonHomeTeam
Percent of homes that sell for above expected values: 4.6%

How many days faster than expected the home sells: 38

 

Pendant light

 


pendant-light HudsonHomeTeam


Percent of homes that sell for above expected values: 4.6%

How many days faster than expected the home sells: 48

 

Exposed brick

exposed-brick HudsonHomeTeam

Percent of homes that sell for above expected values: 4.9%

How many days faster than expected the home sells: 36

 

Craftsman

craftsman HudsonHomeTeam

Percent of homes that sell for above expected values: 5.4%

How many days faster than expected the home sells: 14

 

Quartz

quartz HudsonHomeTeam

 

Percent of homes that sell for above expected values: 6.0%

How many days faster than expected the home sells: 50

 

Subway tile

subway-tile hudsonHomeTeam

 

Percent of homes that sell for above expected values: 6.9%

How many days faster than expected the home sells: 63

 

Farmhouse sink

farmhouse-sink HudsonHomeTeam


Percent of homes that sell for above expected values: 7.9%

How many days faster than expected the home sells: 58

 

Shaker cabinet

shaker-cabinet HudsonHomeTeam

 

Percent of homes that sell for above expected values: 9.6%

How many days faster than expected the home sells: 45

 

Barn door

 


barn-door HudsonHomeTeam


Percent of homes that sell for above expected values: 13.4%

How many days faster than expected the home sells: 57

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Broker fears were confirmed Tuesday, with one big bank raising its prime rate less than a month following new mortgage rules.
TD Canada Trust announced in a note to brokers Tuesday that it is changing its mortgage rates, including increasing its prime rate to 2.85%.
The prime rate has been held at 2.70% for more than a year, according to the broker who shared the announcement with MortgageBrokerNews.ca on condition of anonymity.

485824532


 


“When a bank changes their ‘version’ of bank prime it also serves as an invitation for the other banks to join in and do the same,” the broker said. “Naturally if they all change the public is screwed and all the banks make more profit.
“You see by effectively changing the goal posts on the rate the bank can continue to say: ‘we are prime less 0.50% which is a good deal.’  So as you can see this a clever move if it works.”
See the new rate sheet below.



The announcement also confirms what one economist speculated – that big banks could influence the market by altering its posted rates.
The new mortgage rate stress test, which forces all holders of insured mortgages to qualify at the Bank of Canada’s benchmark five-year rate.
The Bank of Canada’s benchmark rate is closely tied to big bank posted rates. And that relationship could allow lenders to tinker with their posted rates in a bid to influence the BoC’s, thereby allowing them to also influence the ease with which homebuyers can qualify for an insured mortgage.

Contact us for advice and information

 


Logo 2016 HD


“Another possible solution is that posted rates could fall, reducing the impacts of the stress tests. Since they are not set by the market, lenders could decide to lower them if, for example, they find that they are saying “no” to too much good business,” Will Dunning, chief economist of Mortgage Professionals Canada, wrote in a research paper entitled Slamming on the Brakes: Assessing the Impact of Changed Criteria for Mortgage Qualification. “The posted rates are set administratively by the lenders, based on their assessments of what is in their best interests, and their assessments could change.”

 

 

Courtesy of REPMAG.ca

 

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To all "Property Brothers" or "Love it or List it" fans:

Have you ever been flipping through the channels, only to find yourself glued to the couch in an HGTV ‘show hole’*? We’ve all been there… watching entire seasons of“Love it or List it,” “Fixer Upper,” “House Hunters,” “Flip or Flop,” “Property Brothers,”and so many more, just in one sitting. Sad to admit it, but I have done that too...

When you’re in the middle of your real estate themed show marathon, you might start to think that everything you see on TV must be how it works in real life, but you may need a reality check.

Reality TV Show Myths vs. Real Life:
Myth #1: Buyers look at 3 homes and make a decision to purchase one of them.

Truth: There may be buyers who fall in love and buy the first home they see, but more often than not the process of buying a home means touring more than three homes.

Myth #2: The houses the buyers are touring are still for sale.

Truth: The reality is being staged for TV. Many of the homes being shown are already sold and are off the market.

Myth #3: The buyers haven’t made a purchase decision yet.

Truth: Since there is no way to show the entire buying process in a 30-minute show, TV producers often choose buyers who are further along in the process and have already chosen a home to buy.

Myth #4: If you list your home for sale, it will ALWAYS sell at the Open House.

Truth: Of course this would be great! Open Houses are important to guarantee the most exposure to buyers in your area, but are only a PIECE of the overall marketing of your home. Just realize that many homes are sold during regular listing appointments as well.

Myth #5: Homeowners make a decision about selling their home after a 5-minute conversation.

Truth: Similar to the buyers portrayed on the shows, many of the sellers have already spent hours deliberating the decision to list their home and move on with their life/goals.

Bottom Line

Having an experienced professional on your side while navigating the real estate market is the best way to guarantee that you can make the home of your dreams a reality. And speaking with a local lender about your financial situation will ensure that you are protected throughout the transaction. Ask your lender how strong your pre-approval should be to beat other offers.

*Show Hole - A side effect of binge-watching. Symptoms include a sense of emptiness and depression brought on by realizing you just wasted a good portion of your life watching several seasons of a TV show or an entire movie franchise all at once when you could have managed your time better.

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Renee Bernard
Posted Apr 22, 2016 9:44 pm PDT

 

SURREY (NEWS 1130) – The Surrey Board of Education is making an unusual move in dealing with overcrowded schools.

Trustees are asking the city to temporarily halt new development in three neighbourhoods.

“At the moment we are in a crisis. This is the worst I have ever seen it on the board,” says Laurae McNally, a 30-year veteran of the board, who spearheaded the motion directed at the city.

The board wants the city to “temporarily suspend all new development approvals in the Clayton, Grandview/South Surrey and South Newton regions until the Surrey School District receives adequate provincial capital funding to support the many new students in these regions.”



“We have 275 classroom portables, which we have to pay for out our operating budget. We have four high schools on extended days,” McNally explains.

Plus, a couple of schools need to run five kindergarten classes to meet demand.

“The $4 million a year that the portables cost us is the equivalent of 50 teachers that we could put in our system.”

She says teachers, students and parents have been very patient but they are getting very tired of the situation.

“Everybody wants to see a light at the end of the tunnel.

 


 

Earlier in the school year we had the opportunity to experience one of the Semiahmoo Music Society's various concerts. While we had heard great things about the school music program, we were blown away...

 

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