Abbotsford Real Estate - Michele Cartwright

Brenda Evans
RE/MAX Little Oak
9 2630 Bourquin Crescent West, Abbotsford, B.C.
P: 604-807-8882
F: 604-852-0542
Email

March 27, 2010 News Flash as Of April 19th, 2010

The minimum 5% down will still remain for owner occupied properties whereas minimum 20% down will apply to non-owner occupied properties. First time home buyers will have to now qualify based on a 5yr fixed rate as oppose to a 3yr rate. Effective, April 19th.

Sunday, August 15, 2010 - Mega-mall For Abbotsford

Abbotsford News Reported this weekend that "Billed as the largest retail development in B.C. in last 30 years Mega Mall". 600,000 sq ft regional shopping center on Mt Lehman Rd... broke ground this past Thursday...property will include Super Walmart, London Drugs to name a few.

posted in News at Sun, 15 Aug 2010 18:59:16 -0700

Wednesday, June 23, 2010 - Interesting CMHC Quarterly Update

The CMHC (Canadian Mortgage and Housing Corporation released its quarterly report earlier this week and I wanted to share some of the highlights with you regarding the Abbotsford market. Please feel free to continue reading the excerpt below for more detailed information. - Fraser Valley resale market to remain balanced, with sales volumes projected to increase by nine per cent. - Fraser Valley home prices to increase at a modest one to three per cent in 2010. - Surrey will be the strongest hou ... Full Article...

posted in News at Wed, 23 Jun 2010 12:12:05 -0700

Tuesday, June 15, 2010 - RE/MAX Recognized as the Most Trusted Real Estate Brand in Canada

(Kelowna, BC, April 28, 2010) – RE/MAX has been awarded Most Trusted Residential REALTOR® as voted on by readers of Reader’s Digest magazine. The survey conducted for the annual awards revealed that the majority of Canadians trust RE/MAX for all their residential real estate needs, ranking RE/MAX associates five-times more ‘trusted’ than the second most trusted brand. “Our associates should be proud and honoured to receive the confidence of Canadian consumers as t ... Full Article...

posted in News at Tue, 15 Jun 2010 16:32:55 -0700

Wednesday, June 9, 2010 - Housing Forecast

Vancouver, BC – June 7, 2010. The British Columbia Real Estate Association (BCREA) released its Housing Forecast for the second quarter of 2010 today. BC Multiple Listing Service® (MLS®) residential sales are forecast to ease back 3 per cent from 85,028 units in 2009 to 82,350 units this year, before increasing 4 per cent to 85,900 units in 2011. “Eroding affordability will trim home sales by 3 per cent this year despite improving economic conditions and related employment growth ... Full Article...

posted in News at Wed, 09 Jun 2010 15:59:35 -0700

Friday, May 21, 2010 - BCREA Chief Economist Reports

BC Home Sales Less Volatile The BC residential sales dollar volume increased 73 per cent to $13.5 billion in the first four months of 2010, compared to the same period last year. Residential units sales rose 47 per cent to 26,669 units year-to-date, while the average MLS® BC home sales have trended on an annual rate of 84,000 to 86,000 units over the past three months, down from the 108,000 unit pace recorded in the fourth quarter of last year,” said Cameron Muir, BCREA Chief Economist. ... Full Article...

posted in News at Fri, 21 May 2010 01:44:09 -0700

Friday, May 14, 2010 - HST News

President of the Fraser Valley Board Shares Good News on HST The first message is that the effect of the HST on the purchase of new homes could have been far worse had it not been for REALTORS® and other housing industry representatives. The second is that if buyers want to avoid paying the HST, one of the best places to do that is in the Fraser Valley. Fraser Valley Real Estate Board Government Relations committee this year and in 2007 lobbied incredibly hard to minimize the burden of the ... Full Article...

posted in News at Fri, 14 May 2010 09:57:20 -0700

Monday, May 3, 2010 - Tranquilli-T

Total Peace of Mind with Tranquilli-T Optional Insurance Program offered by Your Infinity Team at no cost to you! If your transaction is delayed or cancelled, Tranquilli-T* repays you for the costs incurred. The offer to purchase is signed. Your buyer withdraws or asks for more time. Tranquilli-T reimburses you for your expenses, up to maximum of $25,000.00 If your buyers dies... Tranquilli-T pays you the agreed upon price in the offer to purchase. Your buyer or spouse dies. The offer to purcha ... Full Article...

posted in News at Mon, 03 May 2010 21:30:27 -0700

Tuesday, March 9, 2010 - Abbotsford 'Hot Pocket'

According to the March BC Business magazine, Abbotsford has been tagged as one of BC's new 'hot pockets' to watch for and invest in for 2010...sharing the spotlight with Vancouver's Chinatown, downtown Victoria, Richmond and Surrey city central. Abbotsford is the fifth largest city and one of the fastest growing municipalities in BC with a population that has almost quadrupled between 1975 and 2005, from 35,000 residents to 135,000. For more on Abbotsford 'Hot Pocket' ...

posted in News at Tue, 09 Mar 2010 20:27:45 -0800

Tuesday, March 9, 2010 - Olympic Sales

Recent statistics from the Fraser Valley Real Estate Board show that stronger than expected Fraser Valley home sales during the Olympics. MLS recorded 1204 sales in February, an increase of 23% over January's sales and an increase of 77% over the 682 sales during February 2009. Buyers are aware of two key changes that could impact their purchasing ability. The new mortgage rules in effect April 19...and the HST arriving July 1. MLS received 2879 new listings in February, an average of 144 pe ... Full Article...

posted in News at Tue, 09 Mar 2010 20:18:58 -0800

Thursday, March 4, 2010 - Strata Property Changes

As of January 1, 2010, the Strata Property Act changed to the degree that business as usual with respect to condos and rental restrictions is no longer. The rules have changed in respect to any new developments where the developer's Rental Disclosure Statement was filed on or after January 1, 2010. What does this mean? There is now real possibilities that developers can create strata complexes that effectively have no ability to limit or prohibit rentals. It also means that a developer may dec ... Full Article...

posted in News at Thu, 04 Mar 2010 13:56:28 -0800

Thursday, March 4, 2010 - Mortgage Rules Change

The mortgage rule changes announced in February by Financial Minister Jim Flaherty will weigh a bit on real estate speculators and heavily indebted people who want to fold their high-rate credit card debt into a lower-rate mortgage. But for rank and file homebuyers, the changes will barely be perceptible when they take effect on April 19. ...But the 35-year amortization, favourite of first-time buyers across this land, remains. So does the 5-per-cent down payment, which is heavily relied upon i ... Full Article...

posted in News at Thu, 04 Mar 2010 11:20:01 -0800

Monday, November 9, 2009 - Abbotsford: A Great Place to live now and in the future.

Abbotsford: A Great Place to Live Now and in the Future When Fraser Valley REALTORS® met with representatives of the City of Abbotsford on October 15, they came away with renewed enthusiasm for the city’s bright and promising future. The shared optimism of the mayor, councillors and senior staff attending the meeting was contagious. According to Mayor George Peary, "If you’re looking for incentives to move to Abbotsford, how about a brand new hospital with an integrated cancer cen ... Full Article...

posted in News at Mon, 09 Nov 2009 10:06:33 -0800

Monday, September 14, 2009 - Interest rates at historical lows

Bank of Canada keeps interest rates on hold Published September 10, 2009 The Bank of Canada held its benchmark overnight lending rate steady at 0.25 per cent at its setting on September 10th, 2009. The trend-setting Bank rate, which is set 0.25 percentage points above the overnight lending rate, remains at 0.5 per cent. The Bank said that, in line with its expectations, aggressive policy stimulus and the stabilization of global financial markets are supporting the beginnings of a recovery in ... Full Article...

posted in News at Mon, 14 Sep 2009 12:15:21 -0700

Sunday, August 9, 2009 - Valley's real estate sales set new record

Mortgage Rates & Prices Stimulate Market Exciting Times for First Time Home Buyers!! First Time Home Buyers are feeling its okay to go out and buy. Abbotsford area is still the most affordable area covered in the fraser valley. The benchmark for an Abbotsford townhouse was $264,000, and a condo $202,000 noted by the fraser valley real estate board.

posted in News at Sun, 09 Aug 2009 15:09:27 -0700

Tuesday, July 14, 2009 - Housing Market Continues to Show Signs of Recovery

Improved affordability lifts Canada’s housing markets Canadian housing markets are on the mend. Improved housing affordability has brought buyers back into the market and created momentum across the country; contributing to a more active and balanced housing market. Key messages in RBC Economics’ Housing Trends and Affordability report (July 2009) include: · Housing affordability greatly improved in the first quarter of this year. This is the third consecutive quarterly improvement ... Full Article...

posted in News at Tue, 14 Jul 2009 17:37:23 -0700

Friday, June 26, 2009 - Market Watch - June - Housing Sales Continue to Trend Upward

Figures released by real estate boards around the country are showing a positive upward trend in sales driven by improved affordability and less uncertainty about the future. "Home sales have bounced back from the extraordinarily low levels recorded during the winter months," said Cameron Muir, BCREA Chief Economist. "Improved affordability and less uncertainty about the future are the main factors driving home sales higher..... CLICK HERE TO READ MORE OF THIS ARTICLE

posted in News at Fri, 26 Jun 2009 10:35:21 -0700

Wednesday, June 3, 2009 - Housing Sales

News Release: June 2, 2009 Housing sales and prices stabilizing in Fraser Valley (Surrey, BC) – The Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) posted its highest sales volume in a year in May, processing 1,501 sales, the fourth consecutive monthly increase this year. Although that number is still six per cent less compared to the 1,599 sales processed in May of 2008, Board President Paul Penner says it’s a significant improvement compared to where th ... Full Article...

posted in News at Wed, 03 Jun 2009 14:29:12 -0700

Monday, May 4, 2009 - News Release - April Stats

More signs of a real estate rebound in the Fraser Valley. The Fraser Valley real estate market continued to show signs of rebalancing in April with the number of sales increasing for the third month in a row while the volume of available properties stayed constant. Benchmark prices for detached homes and condominiums also showed increases over the last three months.... to read this article CLICK HERE

posted in News at Mon, 04 May 2009 17:17:57 -0700

Wednesday, April 15, 2009 - HBTC - Tax credit for up to $750!

What is the Home Buyer's Tax credit? For 2009 and subsequent years, the budget proposes to introduce a new non-refundable tax credit, based on an amount of $5,000 for certain home buyers that aquire a qualifying home after January 27, 2009. (ie. after this closing date.) The HBTC is calculated by multiplying the lowest personal income tax rate for the year (15% in 2009) by $5,000. For 2009, the credit will be $750.... Please click here to read the remainder of out informative article, court ... Full Article...

posted in News at Wed, 15 Apr 2009 10:32:51 -0700

Wednesday, April 8, 2009 - For Wall Street, March is Best Month Since 2002

U.S. stocks climbed Tuesday, driving the S&P 500 to its best month since October 2002, as investors snapped up top-performing bank and technology shares as the first quarter came to an end. Upbeat news from Europe set the tone for financials, helping them recover much of Monday’s losses and continue a recent robust rally after British bank Barclays (nyse: BCS - news - people ) declined to take part in a government asset-protection plan....CLICK HERE to Read this Article.

posted in News at Wed, 08 Apr 2009 12:35:50 -0700

Wednesday, April 8, 2009 - U.S. Home Sales Climb at Fastest Pace in 10 Months

New orders for long-lasting U.S.-made goods rose in February for the first time in seven months and new home sales rebounded, government data showed on Wednesday, suggesting the economic downturn might be easing a bit.... CLICK HERE to Read this Article.

posted in News at Wed, 08 Apr 2009 12:34:13 -0700

Wednesday, April 8, 2009 - Canada Stocks Gain, Led by Lenders, as Toronto-Dominion Climbs

Canadian stocks rose, capping their first monthly gain since August, as banks advanced after Prime Minister Stephen Harper said he would support efforts by lenders to buy assets from abroad.... CLICK HERE to Read this Article.

posted in News at Wed, 08 Apr 2009 12:32:59 -0700

Wednesday, April 8, 2009 - Metro Vancouver Real Estate Sales Bounce Back

Real estate sales have bounced back in March compared to February, up 53 per cent in Metro Vancouver, 48 per cent in the Fraser Valley and 34 per cent on Vancouver Island... CLICK HERE to Read This Article.

posted in News at Wed, 08 Apr 2009 12:31:03 -0700

Sunday, March 15, 2009 - Nice Surprise for First-Time Home Buyers!

Hey, first-time homebuyer's: How does $8,000 from your Uncle Sam sound? Last fall, the Federal Government introduced a financial incentive to prospective first-time homebuyers — an income tax credit of up to $7,500. The rules were simple: you must have been a first-time homebuyer (as defined by not owning a home in the previous three years) and you met certain income restrictions. The new $8,000 tax credit is available to those who buy between January 1, 2009 and December 1, 2009. It&r ... Full Article...

posted in News at Sun, 15 Mar 2009 16:06:03 -0700

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