January 2020 Newsletter
Andy Schildhorn • January 17, 2020
With the New Year mail, comes our property assessments. Did you know this is the first time in 20 years these values have gone down? Read more in the article below.
Rita Cousins, mortgage broker, talks about how to pay for home renovations
through one of three ways. Irina Bartnik, Notary Public, give us some good advice on the perils of DIY Wills.
Our Langley Infographic
shows us, December was a very good month. Prices are holding steady with detached sales volume up by almost 20%, which leads us into our news article. The sales volume of Greater Vancouver was up 88% year over year, meaning we should be looking at a very strong Spring market due to pent up demand and not enough inventory.
This month’s feature listing is a very comfortable family Townhome in Walnut Grove. Close to schools and shopping. It’s a great buy.
New Year Resolutions!!! Well we have 10 for you
to keep your home running smoothly for the next year.
With the New Year comes new ideas, new plans
and new ways of doing things. Perhaps a new home is part of this newness. Now is the time to start making a plan. A strategy is needed to make the most of your new ideas. I am always available to discuss this further. The sooner the better.
In closing I want to say Happy New Year, thanks for dropping by and look forward to hearing from you soon.
Developers in British Columbia are offering steep discounts as new inventory keeps stacking up, fuelling competition for buyers who can afford to shop around. In Kelowna, Mission Group had a one-day flash sale on Saturday on all vacant inventory at its Alma on Abbott development, a boutique lakefront community located in Pandosy Village that was completed in October. Mission Group president Luke Turri said half of Alma’s 87 units – ranging from studios to three-bedrooms – need to be sold. With the discount, one- and two-bedroom units will be roughly $425,000 to $505,000. “We realize that we have to meet the market where it’s at,” said Turri, who’s been in the field for 20 years. He said today’s buyers are highly informed and cautious. “Buyers are seeing price corrections, incentive programs, construction delays, interest rates swinging, and they need certainty, they need credibility, and so for us the focus is, how do we create that momentum?” Turri said Alma had a successful pre-sale launch, and Mission Group had always anticipated having available inventory after completion due to its target audience of end users, rather than investors. In its latest monthly report, the Association of Interior Realtors said the market maintained a “gradual and steady pace” in October. Still, inventory levels are elevated compared to historical norms. Interior Realtors reported 8,938 active listings at the end of last month, comparable to fall 2024 levels, but well above the 10-year average. 👉 Read the Article Here
Holiday magic is happening all across the Fraser Valley this season. From tree lighting ceremonies and festive markets to concerts, parades, and family-friendly celebrations, there's no shortage of ways to embrace the spirit of the season. 👉 Guide Here
The Bank of Canada today held its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%. Major economies around the world continue to show resilience to US trade protectionism, but uncertainty is still high. In the United States, economic growth is being supported by strong consumption and a surge in AI investment. The US government shutdown caused volatility in quarterly growth and delayed the release of some key economic data. Tariffs are causing some upward pressure on US inflation. In the euro area, economic growth has been stronger than expected, with the services sector showing particular resilience. In China, soft domestic demand, including more weakness in the housing market, is weighing on growth. Global financial conditions, oil prices, and the Canadian dollar are all roughly unchanged since the Bank’s October Monetary Policy Report (MPR). 👉 Read the Article Here 
