House and Home Archives - macdonald realty
 
Abbotsford, Mission, Surrey and Fraser Valley Real Estate Market Statistics – March 2020

Abbotsford, Mission, Surrey and Fraser Valley Real Estate Market Statistics – March 2020

According to the Fraser Valley Real Estate Board, by the end of March, a total of 1,441 sales on its MLS® were processed, a 7% increase compared to sales in February 2020, and an 18% increase compared to the 1,221 sales in March 2019.

Chris Shields, President of the Board, observes, “Sales were steadily increasing as is typical moving into spring, and then understandably and necessarily, they started to decline. We serve the public and we understand it is very challenging to buy or list a home while maintaining physical distancing, however if you need us, know that we are here for you.”

Based on the board report “The Board received 2,666 new listings in March, a 4 per cent increase compared to February’s intake of 2,557 new listings. In the lead up to March 10, new listings were tracking 3 per cent higher compared to the same period last year.

By month-end, new listings finished 7 per cent lower compared to March of last year taking the number of active listings to 6,083, an increase of 6 per cent compared to February’s inventory and a decrease of 13 per cent year‐over‐year.”

Find all the infographics related to the February Market Statistics by visiting the Facebook Album.

Abbotsford

Updated monthly, real estate market statistics from Macdonald Realty on the North Delta, Surrey, Langley and Fraser Valley listings and sales. March 2020

Cloverdale

Updated monthly, real estate market statistics from Macdonald Realty on the North Delta, Surrey, Langley and Fraser Valley listings and sales. March 2020

LangleyUpdated monthly, real estate market statistics from Macdonald Realty on the North Delta, Surrey, Langley and Fraser Valley listings and sales. March 2020

Mission

Updated monthly, real estate market statistics from Macdonald Realty on the North Delta, Surrey, Langley and Fraser Valley listings and sales. March 2020

North Delta

Updated monthly, real estate market statistics from Macdonald Realty on the North Delta, Surrey, Langley and Fraser Valley listings and sales. March 2020

 

North Surrey
Updated monthly, real estate market statistics from Macdonald Realty on the North Delta, Surrey, Langley and Fraser Valley listings and sales. March 2020

Surrey Central

Updated monthly, real estate market statistics from Macdonald Realty on the North Delta, Surrey, Langley and Fraser Valley listings and sales. March 2020

White Rock / South Surrey

Updated monthly, real estate market statistics from Macdonald Realty on the North Delta, Surrey, Langley and Fraser Valley listings and sales. March 2020

 

Looking for more information about the real estate market in specific neighbourhoods in Surrey, Langley and Fraser Valley

Macdonald Realty has offices in North Delta, White Rock/South Surrey, and Langley.  Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.

MLS® Home Price Index (HPI) Benchmark Price

Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.

This blog post is based on market data provided by the Fraser Valley Real Estate Board (FVREB) www.fvreb.bc.ca

Greater Victoria, Parksville and Nanaimo Real Estate Market Statistics – March 2020

Greater Victoria, Parksville and Nanaimo Real Estate Market Statistics – March 2020

Here are the latest real estate market statistics from Macdonald Realty on Greater Victoria, Parksville/Qualicum, and Nanaimo listings and sales in March 2020.
Find all the infographics related to the February Market Statistics by visiting the Facebook Album.

 Greater Victoria

According to the Victoria Real Estate Board “A total of 608 properties sold in the Victoria Real Estate Board region this March, five per cent fewer than the 640 properties sold in March 2019 but eight per cent more than the previous month of February 2020. Sales of condominiums were down 9.2 per cent from March 2019 with 178 units sold. Sales of single family homes decreased by 5.3 per cent from March 2019 with 305 sold.

“Last month, we stated that we saw the spring market kicking off,” says Victoria Real Estate Board President Sandi-Jo Ayers. “The start of March continued that trend and we saw higher year over year sales for the first weeks of the month – spring had officially sprung with multiple offers, new listings and sales. And then the world changed. Since the COVID-19 pandemic was declared, we have tracked a predictable downturn of sales in our market. Moving forward it is hard to predict what our spring market will look like, but it will likely be very different than recent years as our entire community slows down to stay healthy.”

Here are the latest real estate market statistics from Macdonald Realty on Greater Victoria, Parksville/Qualicum, and Nanaimo listings and sales in March 2020.

Nanaimo

Here are the latest real estate market statistics from Macdonald Realty on Greater Victoria, Parksville/Qualicum, and Nanaimo listings and sales in March 2020.

Parksville / Qualicum

Here are the latest real estate market statistics from Macdonald Realty on Greater Victoria, Parksville/Qualicum, and Nanaimo listings and sales in March 2020.

Looking for more information about the real estate market in specific neighbourhoods in Victoria, Parksville, Nanaimo, Vancouver Island and the Gulf Islands? 

Macdonald Realty has offices in downtown Victoria, Sidney, Parksville and on Salt Spring Island. Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.

MLS® Home Price Index (HPI) Benchmark Price

Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.

This blog post is based on market data provided by the Victoria Real Estate Board (VREB) www.vreb.org and the Vancouver Island Real Estate Board (VIREB) www.vireb.com. Market data from the VIREB includes listings and sales in Campbell River, Comox Valley, Cowichan Valley Nanaimo, Parksville/Qualicum, Port Alberni/West, North Island, and the Islands.

Abbotsford, Mission, Surrey and Fraser Valley Real Estate Market Statistics – February 2020

Abbotsford, Mission, Surrey and Fraser Valley Real Estate Market Statistics – February 2020

In February, property sales in the Fraser Valley finished slightly above the 10‐year average for the month, while new listings came in 3 per cent below, keeping overall inventory at historically below‐average levels.

According to the Board, The Fraser Valley Real Estate Board processed 1,352 sales of all property types on its Multiple Listing Service® (MLS®) in February, a 39 per cent increase compared to sales in January 2020, and a 38 per cent increase compared to the 982 sales in February of last year. Darin Germyn, President of the Board and Macdonald Realty real estate agent said Supply is a challenge currently in some areas and for certain property types. In February, in Langley for example, for every 10 active townhomes, six sold. In Cloverdale, there were 26 active condo listings last month; and 20 sold.”

Based on the board report “There were 5,741 active listings available in the Fraser Valley at the end of February, an increase of 12 per cent compared to January’s inventory and a decrease of 10 per cent year‐over‐year. Additionally, 2,557 new listings were received by the Board for the month, a 15 per cent increase compared to January’s intake of 2,216 new listings and a 15 per cent decrease compared to February of last year.”

Find all the infographics related to the February Market Statistics by visiting the Facebook Album.

Abbotsford

Cloverdale

Langley

Mission

North Delta

North Surrey

Surrey Central

White Rock / South Surrey

 

Looking for more information about the real estate market in specific neighbourhoods in Surrey, Langley and Fraser Valley

Macdonald Realty has offices in North Delta, White Rock/South Surrey, and Langley.  Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.

MLS® Home Price Index (HPI) Benchmark Price

Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.

This blog post is based on market data provided by the Fraser Valley Real Estate Board (FVREB) www.fvreb.bc.ca

Greater Victoria, Parksville and Nanaimo Real Estate Market Statistics – February 2020

Greater Victoria, Parksville and Nanaimo Real Estate Market Statistics – February 2020

Here are the latest real estate market statistics from Macdonald Realty on Greater Victoria, Parksville/Qualicum, and Nanaimo listings and sales in February 2020.
Find all the infographics related to the February Market Statistics by visiting the Facebook Album.

 Greater Victoria

According to the Victoria Real Estate Board “a total of 563 properties sold in the Victoria Real Estate Board region this February, 33.7 per cent more than the 421 properties sold in February 2019 and 37 per cent more than in January 2020. Sales of condominiums were up 35.7 per cent from February 2019 with 175 units sold. Sales of single family homes increased 23.7 per cent from January 2020 with 271 sold.”

“February brought the bloom of an early spring market,” says Victoria Real Estate Board President Sandi-Jo Ayers. According to their website “sales numbers are up substantially from last year, which in part indicates that our spring market may have arrived a bit earlier than a lot of our local blossoms. Additionally, we need to consider that last year’s sales activity was quite weak until April and May. Despite a thirty plus percent increase in total sales over last year, our ten-year average for total sales in February is 537, so we are within less than five per cent of our long-term average for the month.”

Here are the latest real estate market statistics from Macdonald Realty on Greater Victoria, Parksville/Qualicum, and Nanaimo listings and sales in February 2020.

Parksville / Qualicum

Here are the latest real estate market statistics from Macdonald Realty on Greater Victoria, Parksville/Qualicum, and Nanaimo listings and sales in February 2020.

Nanaimo

Here are the latest real estate market statistics from Macdonald Realty on Greater Victoria, Parksville/Qualicum, and Nanaimo listings and sales in February 2020.

Looking for more information about the real estate market in specific neighbourhoods in Victoria, Parksville, Nanaimo, Vancouver Island and the Gulf Islands? 

Macdonald Realty has offices in downtown Victoria, Sidney, Parksville and on Salt Spring Island. Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.

MLS® Home Price Index (HPI) Benchmark Price

Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.

This blog post is based on market data provided by the Victoria Real Estate Board (VREB) www.vreb.org and the Vancouver Island Real Estate Board (VIREB) www.vireb.com. Market data from the VIREB includes listings and sales in Campbell River, Comox Valley, Cowichan Valley Nanaimo, Parksville/Qualicum, Port Alberni/West, North Island, and the Islands.

What to do when you’re a first-time home-buyer

What to do when you’re a first-time home-buyer

Thinking of buying your first home in 2020? We understand that it might be the biggest purchase you make. Together let’s eliminate some stress from the process with these essential tips from the team at Macdonald Realty.

Buying your first home with Macdonald Realty

Macdonald Realty’s Real Estate Agents

 

1. Asses your financial situation

  • Credit:

This is a critical first step in the home-buying process. You don’t want to start house-hunting and fall for a home you can’t afford. Understanding your credit score is important not only because you will want to make sure it is accurate and free of errors as it will be checked before getting your mortgage approved.

What else is important to be considered? Two other crucial factors are income and, of course, your down payment.

  • Income:

Most mortgages are long-term commitments: Keep in mind that you may be making those payments every month for the next 25 years.

Are you expecting a raise soon or changing jobs? You may want to consider if you will have more buying power in a few short months and wait the grace period for getting approved after you move.

Are you self-employed? There are different qualifications needed for different types of income earners, make sure you talk with a mortgage broker on your options.

  • Down Payment:

As a first time home buyer there are some programs to help you increase your down payment which will help your mortgage payments and buying power.

   1. First Time Home Buyers

The First-Time Home Buyer Incentive helps people across Canada purchase their first home. The program offers 5 or 10% of the home’s purchase price to put toward a down payment. This addition to your down payment lowers your mortgage carrying costs, making homeownership more affordable.

According to placetocallhome.ca these are a few criteria to determine your eligibility for the First-Time Home Buyer Incentive:

  • you have your minimum down payment
  • your total annual qualifying income doesn’t exceed $120,000
  • your total borrowing is no more than 4 times your qualifying income
  • you or your partner are a first-time homebuyer
  • you are a Canadian citizen, permanent resident or non-permanent resident authorized to work in Canada

READ MORE!

   2. Home Buyer’s Plan / RRSPs

The Home Buyers’ Plan (HBP) is a program that allows you to withdraw from your registered retirement savings plans (RRSPs) to buy or build a qualifying home for yourself. If you’re buying with your partner you can contribute $50,000 together from your RRSPs.


2. Get your approval

“Getting pre‑approved for a mortgage before looking at properties gives you a more realistic expectation of what you can afford.” – CREA

According to CREA, a mortgage is a loan, generally used to buy a property. How much you pay depends on how much you borrow (the principal), the loan’s interest rate, and how long you take to pay it back (the amortization period). You can negotiate interest rates and mortgage terms with different lenders.

Assess mortgage products and different types of lenders to see what fits your needs helps you make an informed decision.

  • Types of Mortgages

What type of mortgage is best for you?

   1. Fixed rate mortgages: Your interest rate is locked in for a specified period called a term. Your payments stay the same for the mortgage’s term so you will not pay more if interest rates increase over time.

   2. Variable rate mortgages: Rate of interest you pay may change if rates go up or down.

   3. Conventional mortgages: Require a down payment of 20% or more of the property’s value. You are not required to get mortgage default insurance with a conventional mortgage.

   4. Closed mortgages: The mortgage cannot be paid off early without paying a prepayment charge.

   5. Open mortgages: A mortgage that can be paid off at any time during the term, without having to pay a charge. The interest rate for an open mortgage may be higher than for a closed mortgage with the same term.

READ MORE!


3. Determine your down payment amount

Just because the bank approves you for a certain amount doesn’t mean you have to spend it all. Think about what would happen if you lost your job and stay unemployed for three months or if you have any other unexpected financial situations.

Based on CREA’s Homebuyer’s Road Map, you may have to pay penalties if you prepay large portions of your mortgage early or if you break your mortgage due to unforeseen life changes. It is your right to know how lenders calculate prepayment penalties.

“Read your mortgage contract carefully and make sure you understand how penalties will be calculated before you sign.” – CREA


4. Find a real estate agent

If it’s your first time going through the process of buying a home, having a real estate agent by your side is extremely recommended. The agent knows essential information about the current market, fair pricing, neighbourhood amenities and so much more. They are there to guide you through the process and help you make the best decision for you.

The Real Estate Council of BC is the legislated regulatory agency that works to ensure real estate professionals have the skills and knowledge to provide you with a high standard of service.

Real estate professionals have a regulatory requirement to present you with some consumer information before providing services to you. When you become a client, you may be asked to sign a written agreement setting out you and the real estate professional’s responsibilities.

Contact us today to be connected with one of our agents who can help you achieve your goals.


5. Stay positive & open to opportunities

Maybe your first home will most likely look nothing like a multi-million-dollar property, but keep your options open for small renovations or upgrades that could help save money. Don’t concern too much about wallpaper, or lighting fixtures; these are easy to change or update. The things you should be more concerned about are the size and layout of the property, along with the condition of the roof, hot water system and plumbing, etc. — the reason why an inspection is one of the most important recommendations during this process.


6. Found your space, now what?

Buying a house requires a lot of time and effort but we can help you make the home buying process manageable and make the process as easy as possible. There are many things to consider along the process and an agent can help be your guide beyond finding your home. The home buying process is a long map all the way through your possession date!

You can count on Macdonald Realty to help you dream big and help you to make things happen. Visit our website to find more information: www.macrealty.com

 

 

6 Minimalist Holiday Decoration Ideas

6 Minimalist Holiday Decoration Ideas

We’re excited for the most wonderful season of the year! The holidays are around the corner and we know decorating can be fun and challenging if you want to keep your space simple, contemporary or modern.

Whether you’re into winter land décor or prefer the traditional red & greens, we’ve searched Pinterest for five minimalist holiday decoration ideas that everybody will love! Start setting up early a fun, minimalist feeling for celebrations while crafting a cozy atmosphere at your home to get you in the festive spirit.


1. Bring the outdoors inside
String pinecones across a wall to bring a bit of the wintertime inside. Spray a bit of fake snow to make it extra wintery.


2. Trees of all shapes and sizes
Giving the hint or suggestion of a wintery tree will allude to the season, coordinate with your own colour scheme or let your imagination run wild.

Via “Sugar & Cloth


3. Forage for your decor
Decorative branches can be found in some designer store but also at your local park, be sure not to harm the trees. Hang the branch, lay it on your mantel for a forest feeling.

Via “Woods And Weaves”


4. Happiness is simple
You can bring a joyful mood to your home without feeling overwhelmed. Gold ornaments and tiny lights are timeless and will reflect natural shine throughout your home to add that extra sparkle to your decor.

Via “Elle Mixe

 

Via “Domino

 

Via “Domino

 

Via "Maison de Pax"

Via “Maison de Pax


6. Holiday colour palettes
Red and green are the power colour duo of the season. Create beautiful decorations by combining different elements like flowers, leaves and berries.

Via “Shifting Roots

Ready to give your home a glow and festive spirit?
Have fun and happy holidays!