July 2020 Newsletter
Andy Schildhorn • July 17, 2020
Hello and Welcome to our July Newsletter.
Strata insurance is in the news. Generally we are seeing an average increase of 35% in insurance rates. I have heard of much larger increases with bigger deductibles. The province has announced its first steps to address this issue. Please read for more details.
This month’s featured listing is 8902 Wright St located in Fort Langley. A wonderful, fully renovated 4 bedroom home on a 12,000sq.ft. plus lot. A real family pleaser. Just in!!! A price reduction of over $40,000.
Our Langley infographic is telling us sales volumes increased with upward pressure on pricing. Pent up demand due to covid 19?
I would not be surprised in the next while to see the market flatten out.
Its Blueberry picking time and one of my favorites is Krause’s Berry Farms. If picking berries is not for you they have so much more to choose from. From Estate Wines to Waffles. Krause has it all.
Irina Bartnik Notary Public lets us know “what is the Notary Public’s role in the purchase or sale of your home.”
That is it for this month. Drop me an email or give me a call to discuss any real estate needs. In the meantime, thanks for dropping by, have a great day and I look forward to hearing from you soon
This month’s featured listing is 8902 Wright St located in Fort Langley. A wonderful, fully renovated 4 bedroom home on a 12,000sq.ft. plus lot. A real family pleaser. Just in!!! A price reduction of over $40,000.
Our Langley infographic is telling us sales volumes increased with upward pressure on pricing. Pent up demand due to covid 19?
I would not be surprised in the next while to see the market flatten out.
Its Blueberry picking time and one of my favorites is Krause’s Berry Farms. If picking berries is not for you they have so much more to choose from. From Estate Wines to Waffles. Krause has it all.
Irina Bartnik Notary Public lets us know “what is the Notary Public’s role in the purchase or sale of your home.”
Rita Cousin, Mortgage Broker gives us three excellent options on how to pay for home renovations.
We are now transitioning into Phase 3, the restart of our economy. What does that mean? Take a few minutes to read this article
and remember it still important to wash your hands.
That is it for this month. Drop me an email or give me a call to discuss any real estate needs. In the meantime, thanks for dropping by, have a great day and I 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 
