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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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Photo: Andrew Hudson

The biggest challenge Canada faces in creating affordable housing is getting people to and from home and work.

 

"If you think housing prices are high now - just wait."  - Heino Molls, REMonline

 

 

"Census Canada figures show that Canada’s population has rocketed past 35 million. In fact, that number is going to be 36 million before the ink is dry on this most recent report and it will, without a doubt, be going at light speed past 40 million way before 2020. That means a huge boost in housing demand. It means that the privilege of living in a home in Canada, not to mention an actual house in Canada is going to come with a high cost. You think the cost of a house in Toronto, Vancouver or Ottawa is high now, just wait.


Do the math on your own. Not the math of the naysayers, the doom and gloom crowd, the people who will show you diagrams and charts with circles and arrows that pinpoint the exact time and date of the collapse of the real estate market. Rather look around, see what is going on and add it up for yourself.


We are facing many problems in our country. There is not enough time and space here to discuss all the challenges of health care, especially mental health care, as well as housing for the poor and marginalized people in our society. Another major challenge that should be mentioned in the same conversation as housing and property value is public transit.

Our governments are scrambling to build new transit ways and highways to accommodate all the people who will be travelling to and from our inner cities for business, health care, restaurants and entertainment.


How Much is YOUR Home Worth?

 

 


Our biggest problem is going to be building transit, not just within our cities but also from the towns and satellite communities that will have even higher population growth in the coming years. Communities like Chilliwack and Abbotsford in B.C. and cities like Kitchener-Waterloo not far from Toronto. The same for all other cities in the country. Transit is going to be our biggest problem.

 

Falling house prices. Yeah, not so much."

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It's that time of year again!


Homelife Golf - HudsonHomeTeam


Get ready to dust off your clubs and support Canuck Place Children's Hospice at the 16th Annual HomeLife Charity Golf Classic!
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Celebrated chef Vikram Vij teams with Vancouver-based Arts Umbrella to offer cooking classes to teens

Feb. 28th, 2017

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Local chef Vikram Vij is partnering with Arts Umbrella’s South Surrey arm to share his culinary expertise with teens.

The celebrated restaurateur will be offering three separate three-hour cooking workshops at My Shanti(15869 Croydon Drive, South Surrey), the youngest of his three local eateries, on March 25, April 29, and May 27. There, budding young chefs will learn the fundamentals of producing a family-style dish alongside Vij himself.

 

“I’m extremely passionate about teaching young people about Indian food,” said Vij in a media statement. “Not only that; this is a perfect partnership with Arts Umbrella. In the same way you take a script or an art assignment and add your own personality, I want these students to take a recipe and make it their own—adding extra spices, different flavours, and to adapt a recipe to something that’s uniquely theirs.”

The classes will help Arts Umbrella, a Vancouver-based non-profit that provides access to arts education for kids, expand beyond its visual art, theatre, and dance offerings to include the culinary arts.

 

 

Chef Vikram Vij’s cooking workshops are open to youth aged 13 to 18. To register for a class, contact Arts Umbrella South Surrey by emailor phone at 604-535-1127.

 

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Updated CMHC homebuying guide encourages long-term thinking

Feb. 28th, 2017

Canada Mortgage and Housing Corp., has updated its free guide to the process of buying a home, with an emphasis on encouraging Canadians to think long term about what kind of home they should buy — or whether they would be better off renting.

The national housing agency first released the guide, called Homebuying Step by Step, in 1998, but has updated it over the years. The latest version streamlines the document, splitting off workbook content and making it available online as a series of interactive printable checklists and questionnaires.


Homebuying - HudsonHomeTeam


The previous iteration of the guide received almost eight million unique page views in 2016 alone, according to CMHC.

The guide is meant for any prospective homebuyer, but first-time buyers could particularly benefit from reading it, said Ina Wielinga, a consultant at CMHC who updated the guide. She said the new version puts a greater focus on calculating the true cost of owning a home over time, emphasizing costs like taxes, utilities and repairs.

"This used to be peppered through the document, but we're bringing it up front because people often get focused on acquisition," said Wielinga.

The new guide also encourages readers to reflect on what kind of home suits their lifestyle, and whether or not homeownership is a better financial choice than renting.

"It's not just buying that house that's brick and mortar," said Wielinga. "There's a lifestyle that goes with it also."

By asking would-be homeowners to consider how a home will fit into their lives over the long term, Wielinga said, the guide could help users feel more confident about their purchase.

Key concepts to consider

The most confusing concept in the guide is also one of the most important ideas to understand before buying a home, according to Wielinga: calculating your gross debt service ratio (also known as the gross debt-to-income ratio) and total debt service ratio (also known as the total debt-to-income ratio).

Click on image below for your copy:


 


The CMHC guide for homebuyers is available for free online. (CMHC)

The gross debt service ratio includes total monthly housing costs, which CMHC says should be no more than 32 per cent of average gross monthly income. The total debt service ratio covers all monthly debt payments, including housing costs. CMHC recommends that ratio not exceed 40 per cent of average gross monthly income.

"You have to understand that, even if you're the best person in the world and you know you can afford it, you have to follow that kind of guideline," said Wielinga.

Financial axioms like these are often left unexplained to potential homebuyers, said Wielinga.

"Honestly, it's not talked about enough," she said. "I think when we do explain it to people, then they do get it."

 

Tighter rules

The rules for Canadian homebuyers have been changing quickly, especially as the government tries different policies to mitigate risk in the real estate market.

For that reason, the guide avoids getting into the details of certain aspects of homebuying, like calculating mortgage loan insurance. Instead, it refers readers to the CMHC website, where the details of mortgage rules can be quickly updated as the government changes them.

Lauren Haw, CEO of an online real estate brokerage, lauded CMHC for its interactive workbook for prospective homebuyers, although she's skeptical that many people will actually take the time to sit down and read the guide in full.

"People like to have it and hold it, but most first-time homebuyers don't seem to ingest the information in this format very well," said Haw. "Because even if you give them these documents, very few people are the personality type that will read it and really truly understand it."

Haw said real estate brokers often end up explaining these concepts to their clients as they go through the buying process.

​"If everybody would sit down and read one of these things, I think we'd have much more informed buyers," she said.

 

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When it comes to buying and selling homes, most contracts include a contingency that will allow buyers to back out or re-negotiate the sale based on issues found during a home inspection.

Selling a home can be stressful, to feel confident in the sale of your home check out these common home issues before listing.

We recommend a pre-sale home inspection – which may even sweeten your home sale by adding an element of transparency when you share the report with the buyers agent.

 Basement Moisture - HudsonHomeTeam

Basement Moisture

Regardless if your basement is beautifully finished or could have been the location for the latest big screen thriller, a major issue found in home inspections is moisture or seepage.

If your basement shows signs of moisture, leakage or has an air of dampness you may have an issue.  Call a trusted home inspector to get the lay of the land, or a contractor who specializes in basement repair.

The possibility of basement flooding will not appeal to even the savviest of ‘fixer upper’ home buyers.

 

Poor Workmanship - HudsonHomeTeamOutdated Roof

The hat for your home.  Maybe not today, maybe not tomorrow, but if your roof is old you run the risk of facing major leaks during the next rainy season.

If left unattended, an old roof may lead to major damage of other existing home systems and property.  If your shingles are peeling and look old, you likely need a new roof – get on the phone and start calling local roofing companies.



Poor Workmanship

DIYers take heed!  There are (for example) building codes for things like your deck, car port, garage, retaining walls, plumbing, electrical and other home projects and systems.

Outdated Roof - HudsonHomeTeam

If you are going to tackle these projects yourself, make sure to do your research and learn what building code requirements exist in your city.  Better yet, have a professional come double check your work before you pat yourself on the back  – it could save you from property damage, personal injury, costly lawsuits, or the sale of your home.

 

 

 

 

Maintenance

All major components of your home do require maintenance.  Just as you get an oil change, replace brake pads, and rotate tires on your vehicle, your home needs regular attention and cleaning.

Be sure to pay attention to things like furnace and central air maintenance, cleaning dryer vents, water heaters, exhaust fan filers for your stove, check caulking in places like tubs and shower surrounds yearly.  Prevention is better than a cure – and it costs less!

 Checklist - HudsonHomeTeam


 

 

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(courtesy of peacearchnews.com)

Curry battle in Surrey: It's Indian vs. Thai in special event dubbed 'Mae Shanti' - White Rock News

 Chefs Vikram Vij (left) and Angus An. - submitted

Chefs Vikram Vij (left) and Angus An.

 

SURREY — The table is set for a curry battle in Surrey next month.

A culinary showdown of sorts will take place at South Surrey's My Shanti restaurant on Monday, March 13, featuring its owner/operator, Vikram Vij, and fellow award-winning chef Angus An, from Kitslano's celebrated eatery, Maenam.

This curry fight is Indian versus Thai.

 

How Much is My Home Worth Button
 

In a ticketed, $125-a-head event, the chefs will go head-to-head as they demonstrate the best cuisine of their native countries.

An and Vij will collaborate on canapés and dessert, but it is the main courses where they will duel it out over meat, seafood, rice and noodles, giving diners the chance to decide for themselves. With each course, diners will also enjoy wine pairings from B.C. wineries.


Another Reason We live in


         #SouthSurrey #WhiteRock



"This Asian curry showdown will take place over five courses where both Chefs and their teams will prepare dishes in the one-night-only 'Mae Shanti' kitchen to represent their respective countries," according to an event advisory.

Says Vij: “There are amazing curries in both Indian and Thai cuisine, and while the ingredients are sometimes similar, they retain distinctive flavours. We want to highlight those differences, while giving our diners the chance to compare the dishes.”

Adds An: “It’s not often I can showcase Thai cuisine right beside Indian curry. I’m looking forward to being able to illustrate the differences to diners as they savour every flavour.”

To reserve a table, email Namaste@myshanti.comwith the subject line “Mae Shanti.”

My Shanti is located at 15869 Croydon Dr., Surrey.

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(Courtesy of elledecor.com)

Whether you want to add energy to a dull room or calm a hectic one, these are the colors for you.


1 of 12

Orange: Expands Your Thinking

This vibrant hue reduces self-consciousness and allows you to express yourself with confidence. Use it in your home when you want to feel younger. It is the color of laughter and celebration. Add an orange mouse pad to your office, an accent wall to your child's room, or just a bordered notecard on a side table.

Interior design by Ken Fulk

Douglas Friedman

 

2 of 12

Green: Increases Wealth

The primary color in nature, it corresponds with life's riches. It is the color of fresh starts and growth. It will encourage you to honour your unique talents and manifest them in the material world. Try a green chair, side table or front door.

Interior design by Kelly Wearstler

WILLIAM ABRANOWICZ

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Green: Also Heals

It represents nourishment and helps steady the body, balancing your equilibrium and encouraging stability. Use it to rejuvenate yourself, to promote physical and emotional well-being. Try a green pot, set of kitchen bowls, or bath towels.

Interior design by Nate Berkus

ROGER DAVIES

 

4 of 12

Light Purple: Enhances Spirituality

It will help you connect to a higher plane. Purple encourages a fresh perspective on emotional issues. By reminding you that we are all connected, it will deepen your sense of humanity. Use it in your home to enhance compassion and to experience friends as family. Try a light purple cashmere throw, journal or fresh bouquet.

Interior design by Rafael de Cárdenas

Roger Davies

5 of 12

Deep Blue: Encourages Efficiency

It will purify your thinking, so you can cut through the clutter and discover what is most important in your life. It helps you integrate the big picture with the little picture. Wear dark blue when you need to make a decision. At home, try it on an oversized tray, a wastebasket, a desk lamp or all over the room.

Interior design by Thom Filicia

William Waldron

6 of 12

Light Blue: Gives a Sense of Peace

It dissolves tension and promotes tranquillity. Light blue especially brings ease into the home and harmony into relationships. Wearing or surrounding yourself with it helps calm aggressive tendencies and eliminates discord. Try a light blue headboard, flowy drapes or painted ceiling.

Interior design by Michael Coorengel & Jean-Pierre Calvagrac

William Waldron

7 of 12 

Pink: Opens the Heart

Gentle and soothing, pink is the color of love. It promotes tenderness and is a comfort in times of emotional transition. Use it in a room when you are trying to increase receptivity and understanding. Try a pink lampshade, table runner or just a glass of rosé wine.

Interior design by Katie Ridder

William Waldron

8 of 12

Bright Red: Fortifies You

It is a stimulant. It promotes courage and fearlessness. Use this color when you want to increase self-confidence. But too much red can make you feel overly excited or agitated. A little goes a long way. Try a bright red candy dish, picture frame, or accent pillows.

Interior design by Susan Hable Smith

Richard Powers

9 of 12

Deep Red: Inspires Passion

It helps awaken the libido. Use it to move you through inhibitions and emotional blocks that prevent you from expressing yourself. It will remind you to live life fully and to love your body. Try a deep red ottoman, lampshade, or accent chair.

Interior design by Martyn Lawrence Bullard

Douglas Friedman

10 of 12

Yellow: Increases Your Focus

This color is known for enhancing intelligence and mental agility. It can help stimulate conversation and clarify thoughts. Try a yellow pencil, bookmark, or side chair.

Interior design by Jeffrey Bilhuber

William Waldron

 

11 of 12

Yellow and Orange: Add Life

These colors help dispel darkness and allow us to see the brighter side of things. Always remember, an array of color is key to happiness: You need the full range of it to feel balanced and fully alive. Try a yellow or orange kitchen towel, throw pillows, or coffee mugs.

Interior design by Mathew Patrick Smyth

Simon Upton

 

12 of 12

Aqua: Inspires Trust

This is the color to use when you need to relax. Wear or surround yourself with it if you have difficulty sleeping, dreaming, or meditating. Try an aqua duvet, vase or painted floor.

Interior design by William Sofield

Simon Upton

 

See also:

 

Mushroom is the colour taking over homes in 2017

 

Mushroom

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Mushroom

 

 

Warmer than gray but cooler than taupe, this neutral, earthy shade is popping up everywhere. Here's how to make the color work in every space.

   

 

 

 

(Courtesy of elledecor.com)


By Country Living Staff|Jan. 6th, 2017

Constant Trim - HudsonHomeTeam

1 Contrast trim

 

Flip the script (dark walls, white woodwork) and try the reverse.

 

 

 

 

 

 

 


 

Constant Trim - HudsonHomeTeam

2 Cozy cabinetry

 

The practical tone adds a bit of sophistication to hardworking spaces, such as the mudroom. 

 

 

 

 

 

 


 

Fresh Paint - HudsonHomeTeam

3 Fresh Paint

 

Use this handy guide to find the best hue to complement your furnishings.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


 

 

Statement Tile - HudsonHomeTeam4 Statement Tile

 

A subdued color scheme gives this pattern live-with-it-forever potential.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  ($28 per square foot; granadatile.com)  


 

 

 

Patterned Pillows - HudsonHomeTeam

5 Patterned Pillows

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  (Courtesy of shoplittledesignco.com)


 

 

 

 

Specled Plates - HudsonHomeTeam6 Speckled Plates

 

Mix these dishes in with plain old white ware.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  ($112 for four plates; irwinribera.com)


 

 

 

 

 

Armchair - HudsonHomeTeam

 

7 Armchair

 

A less lumberjack-y take on the buffalo check.

 

 

 

 

 

 

 

 

   

 

 

 

 

 

 

 

 

($2,900; arhaus.com)


 

 

 

 

 

Tray - HudsonHomeTeam

 

8 Tray

Serve up some 'shroom via a pretty platter.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

($39; jossandmain.com)  


 

 

 

 

 

Graphic Rug - HudsonHomeTeam

 

9 Graphic Rug

This neutral version of a Navajo print is bold without being over the top. 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    ($126 for 2' by 3'; rugsdoneright.com)


 

 

 

 

Marblized Candle - HudsonHomeTeam

 

10 Marbleized Candle

 

This pretty pick is small but mighty — it makes quite the statement and burns for 60+ hours.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

($40; dlcompany.com)



 

 

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(courtesy of urbansurrey.com)

Surrey population surpasses 500,000; doubles Vancouver in growth

tvqvafbSurrey City Centre

Census data released today by Statistics Canada has revealed that Surrey’s population has surpassed 500,000. As of May 2016 last year, the population of Surrey was 517,887, an increase from 468,251 in 2011 representing a growth rate of 10.6%, outpacing the national average, British Columbia, the City of Vancouver, and the Vancouver CMA.

In comparison, between 2011 and 2016:

  • Canada as a whole grew by 5.0%
  • British Columbia grew by 5.6%
  • City of Vancouver grew by 4.6%
  • Vancouver Census Metropolitan Area (CMA): 6.5%

The only Vancouver CMA municipality to grow faster than Surrey was the Township of Langley which grew at a rapid 12.6%. As a whole, the Vancouver CMA grew to 2,463,431.

With Surrey adding an average of 1,000 new residents per month, as of February 2017, the population of Surrey can be estimated to have already increased further to 525,000. It is expected that Surrey will surpass Vancouver in population to become the largest city in BC by 2030.



Looking at growth by Census Tract, the areas of Surrey growing the fastest were in the south and east, in places such as Grandview Heights, Sunnyside Heights, South Newton, and Clayton. There was also noticeably strong growth in Surrey City Centre as a result of new condo developments in recent years, with one Census Tract east of King George Blvd and south of 104th Avenue growing by 33%. This growth in City Centre will likely increase even more by the 2021 Census, with more new condo developments expected to be completed within City Centre in the next 5 years than in the previous 5 years.

Developable land and affordability in comparison to Vancouver can both be seen as driving factors in Surrey’s strong growth.

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Growth rate by Census Tract in Metro Vancouver


 

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Growth rate by Census Tract in North Surrey – Area east of King George Blvd and south of 104th Ave grew by 33%.

https://censusmapper.ca/maps/583#11/49.2613/-123.1145

By Stephen Hallingham|
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