WHERE: Sandpiper Pub, White Rock WHEN: September 11 5 – 8 WHAT: Live music, door prizes, toonie toss, raffle and 50/50 HOW MUCH: $20 / ticket ( $10 directly to Semi Rugby) – You get a Burger, Fries and a Beverage (Beer or Pop) Kids Welcome – Bring the whole family
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.
Agents, experts say Chinese buyers alone account for much more than 3% of B.C. homebuyers
Asia Real Estate Association of America, Vancouver chapter representatives say the government's data sample is too low to be accurate.
A provincial government statement that only 3% of B.C. residential sales are made to foreign buyers and that Chinese nationals represent just 2.5% of Metro Vancouver home buyers drew rolling eyeballs and laughter at the packed July 7 Asia Real Estate Association of America (AREAA) conference in downtown Vancouver.
“No. Absolutely not,” said an incredulous Byron Burley, Shanghai-based vice-president of Chinese-language juwaii.com, China’s largest foreign residential real estate search engine. “It is way, way higher than that.” Burley noted that millions of Chinese nationals use his site, which has from 3,000 to 5,000 residential listings from B.C. at any time.
“My intuition says it has to be much higher [than 3%]” said Michael North of the Asia Pacific Network Foundation, “just based on the number of people and the number of deals being done at this conference.”
North, COO of Hawaii-based Pacific Royalties, which specializes in linking North American real estate with Asian buyers, had just finished telling the conference that “a next wave of Chinese buyers” was about to crash into the Vancouver market.
“The rollout is accelerating,” North said, citing the recent expansion of China’s Qualified Domestic Institutional Investor program that encourages wealthy residents of China to invest in foreign real estate and stock markets.
“I would like to know where the B.C. government is getting their statistics,” said North, who estimated “at least 10%” of Metro Vancouver home buyers are foreign nationals.
Finance Minister Mike De Jong said the information was based on residential sales during a near three-week period in June, which began as the province began tracking the addresses of all buyers for the first time.
According to De Jong, there were 10,148 transactions between June 10 and 29 throughout B.C., half of which were in the Lower Mainland. Only 337 of those sales – 3.3% – involved foreign nationals.
“That is a very small sample,” said Tina Mak, a Vancouver real estate agent and president of AREAA Vancouver. “That is the problem. No one has hard data.”
Mak said she suspects that foreign buyers, particularly from Asia, represent a higher percentage in Metro Vancouver than the government data suggests. “But no one really knows.”
Vancouver real estate agents were less cautious in their response to the government data. “I would say 50% of house buyers, maybe 60% [are foreigners],” said Eve Chuang of Macdonald Realty.
Chuang and other agents at the AREAA conference said it is not the nationality of the buyer but the source of the capital that is important. Money from China, the real estate agents said, can be transferred to a relative with an address in Vancouver, who then acts as the buyer.
North added that, on larger transactions such as multi-family buildings, a Chinese national can open a Vancouver office.
“Name the company Maple Leaf Enterprise and hire Joan Smith to head it. Suddenly you’re a Canadian investor. Actually, that would be a good way to go if you’re a long-term investor.”
Burley agreed that is common for Chinese nationals to use local residents or companies as proxies when purchasing foreign real estate. But how many? “I have no idea,” Burley said, “I don’t think anyone does.”
WOW! This has go to be one of the busiest weekends in a long long time!
Not only our own coordinated event in the South Meridian neighbourhood, but one in Summerfield as well, the annual Hall’s Prairie Country Fair (which includes a garage sale) a “Kids’ stuff” swap meet and numerous other events going on!
Don’t forget to stay hydrated today! And sunscreen, wear your sunscreen!
Please feel comfortable suggesting HudsonHomeTeam in your Real Estate conversations.
We have some Neighbourhood events coming up in the coming weeks, including an event in the McNally Creek/South Meridian Neighbourhood.
Today we would like to highlight the annual Semiahmoo Secondary School Dry Grad Garage Sale at the school(it’s on the map).
Click on the SemiDryGrad image to go to today’s map. And remember, we need you to send your friends and family our way when the topic of Real Estate comes up!
There are two neighbourhood events hosted by some of our Real Estate colleagues.
Be sure to print both pages.
Upcoming:
Neighbourhood Garage Sales in McNally Creek (South Meridian) and up the 152nd corridor above 32 Diversion.
Please keep in mind that WE SELL REAL ESTATE! We would appreciate the opportunity to present you or your contacts with our outstanding marketing package.
Feel comfortable referring to us, when the topic of Real Estate comes up.
Renting out property to get easier as CMHC changes rules
by Steve Randall28 Jul 2015
The rules around the income from rental units considered in home loan applications submitted to the CMHC are changing. The agency announced Monday that, from September 28, it will allow 100 per cent of the rental income from a unit to be considered for new loan applications submitted to it for mortgage insurance.
That means that a secondary rentals suite’s income, minus costs including property taxes, will boost the size of the loan that buyers can secure. Qualifying units must have sustainable income, proven by two years of rental rent payments. These payments will be averaged to assess the unit’s income. Applicants will also need a credit rating of at least 680. Properties with more than a single rental unit will have slightly different rules and this change is most positive for homeowners with one rental unit.
Vancouver, BC, Canada / News Talk 980 CKNW | Vancouver's News. Vancouver's Talk Matt Lee
It appears the province has no plans to slow down the growth happening in some Surrey neighbourhoods.
It comes even after school trustees passed a unanimous motion on Thursday calling for a halt in development.
The motion tabled by Laurae McNally suggested provincial funding for new schools isn’t keeping up with the pace of population growth in the fastest growing city in the province.
That’s why they called on the city to halt the development happening in the Clayton, Grandview/South Surrey, and Newton areas.
But education minister Mike Bernier is singing a different tune.
In a statement to CKNW, Bernier says he understands the challenges facing the school district, but hints at major projects already being underway with more slated to come.
He says as the city moves forward, Surrey and other districts experiencing similar growth will be a priority for future capital investments.
I understand the challenges Surrey has and I’ve discussed them with the board when we met a few months ago. My Ministry is working closely with the Surrey district to find ways to deal with the intense pressures from growth. As we move forward, Surrey and other districts experiencing growth will be a priority for future capital investments. There are several major projects underway and more slated to come – the new Clayton North Secondary and additions to three elementary schools are under way – projects worth $64.6 million. These projects will create 1,870 spaces for Surrey. Since 2001, we’ve invested more than $337 million for 55 capital and seismic projects, and 12 site acquisitions in Surrey. Last year we completed Goldstone Park and Katzie elementary schools, and additions to Fraser Heights and Panorama Ridge Secondary. These projects, worth a total of $44.2 million, created 1,160 spaces for elementary and 500 secondary spaces in Surrey.
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 by the quality of musicianship of the various levels of bands the school has. Afterwards, we had the opportunity to meet and talk with the Music Department Teachers, all so very enthusiastic and passionate about what they do.
We talked about the students, the funding and how financing the program has it's challenges. Mr. Lowe, the department head, mentioned how they are constantly looking at way to fund-raise for the purchase/upkeep of instruments as well as funding for festivals, workshops and trips, sometimes to far-off places in the world.
We realized we have an opportunity to do our part. We enjoy supporting the community through various fund-raising efforts for food-banks, hospital charities, neighbourhood events and sports participation, but we had no focus on the music. And without music... well, what is there to dance to?
As a Team, we would like donate $400 towards the Semiahmoo Music Society for every house marketed to completion or bought through us in the South Surrey/White Rock area. If you have experienced the joy of the Semi Music Society's talented students, please keep us in mind when the topic of Real Estate comes up in conversation.
With your assistance we can help the music in our neighbourhood play for years to come.
For more information please contact Andrew at 604-773-3940 or Info at HudsonHomeTeam.com
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.
The Canadian Press Published Thursday, April 21, 2016 10:21AM EDT
TORONTO -- A new report suggests the red hot real estate markets in Vancouver and Toronto are discouraging some potential sellers from listing their homes because they're afraid of becoming buyers themselves.
The spring market trends report by real estate firm Re/Max on Thursday says while homeowners in those cities know their homes will sell quickly, many are reluctant to become buyers in the highly competitive market.
Re/Max says some are also reluctant to list their homes because they believe that prices could move even higher.
Vancouver and Toronto have been the hottest real estate markets in the country, raising questions about affordability, the role of speculators and the influence of foreign buyers.
The average residential sale price in Vancouver in the first quarter was $1,103,586, up 24 per cent from a year ago, according to Re/Max.
The average price in Toronto was $675,492, up 14 per cent.
The report suggested the strength of Toronto and Vancouver are helping drive prices in neighbouring regions as buyers move further out in search of an affordable home.
The report noted that Hamilton-Burlington and Barrie in Ontario as well as Victoria have seen prices rise 10 per cent or more compared with a year ago.
"The population growth in these regions, driven by housing demand, is growing local economies as restaurants, shops and services expand," the report said.
Looks a bit cloudy this AM but it should be nicer later on.
Watch for a schwack (not a real word) of Neighbourhood Garage Sales coming up over the next coupe of months. So far we have confirmed South Meridian, Bayridge and Rosemary Heights school catchments for Spring.
Look for our new logo’s signs in coming weeks as well!
Click below, on our (complimentary for your use) directional sign to go to this weekend’s map.
Click our new logo below to take you to the latest Open Houses and listings in South Surrey & White Rock.
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.