Bob Sethi, B.Comm | 604.273.2828

 
I have listed a new property at 410 13728 108TH AVE in Surrey.
QUATTRO 3 by TIEN SHER HOMES. NEW MOVE IN READY HOMES in Metro Vancouver's fastest growing downtown hub, 'City Centre'. Quattro 3 is walkable to multiple rapid transit options, shopping, schools, Simon Fraser University, parks andamenities. These intelligently designed homes are finished with the finest upgrades including granite countertops, custom cabinetry, 5 piece Whirlpool kitchen appliance package, 2 piece Samsung front loading clothes washer/dryer, oversized windows plus more and include parking and storage. Buy new without having to wait! Showings by appointment only-call today.
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I have listed a new property at 125 10788 WHALLEY BLVD in Surrey.
QUATTRO 3 by TIEN SHER HOMES. NEW MOVE IN READY HOMES in Metro Vancouver's fastest growing downtown hub 'City Center'. Quattro 3 is walkable to multiple rapid transit options, shopping, schools, Simon Fraser University, parks and amenities.These intelligently designed homes are finished with the finest upgrades including granite countertops, custom cabinetry, 5pc Whirlpool kitchen appliance package, 2pc Samsung front loading clothes washer/dryer, oversized windows plus more and include parking and storage. Buy new without having to wait! Showings by appointment only - call today!
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Metro Vancouver home sales above average in October

Metro Vancouver experiences above average October home sales. Come see your next home at Jade in Richmond's amenity rich McLennan North neighbourhood.


November 4, 2014.


Home sales in the Metro Vancouver* housing market continue to outpace long-term averages for this time of year.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 3,057 on the Multiple Listing Service® (MLS®) in October 2014. This represents a 14.9 per cent increase compared to the 2,661 sales in October 2013, and a 4.6 per cent increase over the 2,922 sales in September 2014.
 
Last month’s sales were 16.6 per cent above the 10-year sales average for October.

“We’ve seen strong and consistent demand from home buyers in Metro Vancouver throughout this year. This has led to steady increases in home prices of between four and eight per cent depending on the property,” said REBGV president Ray Harris.

New listings for detached, attached and apartment properties in Metro Vancouver totalled 4,487 in October. This represents a four per cent increase compared to the 4,315 new listings in October 2013 and a 14.7 per cent decline from the 5,259 new listings in September.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 13,851, a 9.2 per cent decline compared to October 2013 and a 6.6 per cent decrease compared to September 2014.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $637,000. This represents a six per cent increase compared to October 2013.

“Detached homes continue to increase in price more than condominium and townhome properties. This is largely a function of supply and demand as the supply of condominium and townhome properties are more abundant than detached homes in our region,” Harris said. 

Sales of detached properties in October 2014 reached 1,271, an increase of 19.1 per cent from the 1,067 detached sales recorded in October 2013, and a 60.9 per cent increase from the 790 units sold in October 2012. The benchmark price for detached properties increased 7.9 per cent from October 2013 to $995,100.

Sales of apartment properties reached 1,268 in October 2014, an increase of 15.5 per cent compared to the 1,098 sales in October 2013, and a 57.9 per cent increase compared to the 803 sales in October 2012. The benchmark price of an apartment property increased four per cent from October 2013 to $380,200.

Attached property sales in October 2014 totalled 518, a 4.4 per cent increase compared to the 496 sales in October 2013, and an 53.3 per cent increase over the 338 attached properties sold in October 2012. The benchmark price of an attached unit increased 4.7 per cent between October 2013 and 2014 to $479,500.

* Areas covered by Real Estate Board of Greater Vancouver include: Whistler, Sunshine Coast, Squamish, West Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richmond, Port Moody, Port Coquitlam, Coquitlam, New Westminster, Pitt Meadows, Maple Ridge, and South Delta.


As printed in 'Newsflash' by Real Estate Board of Greater Vancouver, November 4th, 2014.


Not intended to solicit properties currently listed for sale. E. & O.E.

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I have listed a new property at 22 9691 ALBERTA RD in Richmond.
JADE by TIEN SHER HOMES. New three-bedroom homes in Richmond's amenity rich McLellan North neighbourhood. Walking distance to the new Garden City Park, elementary + secondary schools, daycares, shopping & rapid transit. Clever floor plans maximize the open layouts, finely finished with: sleek quartz countertops, custom cabinetry, Samsung/Maytag SS Kitchen appliances package inc. gas range & French-door fridge, durable wood-laminate floors, porcelain tiles, Whirlpool front load washer + dryer, natural gas BBQ outlet, B.I. security system, B.l. fire-resistant safe plus more. For a limited time: add air conditioning or radiant in-floor heating. Jade discovery centre and show homes open daily from 12pm-5pm (except Friday).
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I have listed a new property at 18 9691 ALBERTA RD in Richmond.
JADE by TIEN SHER HOMES. New three-bedroom homes in Richmond's amenity rich McLellan North neighbourhood. walk:ing distance to the new Garden City Park, elementary + secondary schools, daycares, shopping & rapid transit. Clever floor plans maximize the open layouts, finely finished with: sleek quartz countertops, custom cabinetry, Samsung/Maytag SS Kitchen appliances package inc. gas range & French-door fridge, durable wood-laminate floors, porcelain tiles, Whirlpool front load washer + dryer, natural gas BBQ outlet, B.!. security system, B.!. fire-resistant safe plus more. For a limited time: add air conditioning or radiant in-floor heating. Jade discovery centre and show homes open daily from 12pm-5pm (except Friday).
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I have listed a new property at 16 9691 ALBERTA RD in Richmond.
BETTER THAN AN APARTMENT! One-bedroom GARDEN SUITES provide your GREEN ALTERNATIVE to apartment living in Richmond's amenity & transit-rich North McLennan neighborhood. SINGLE-LEVEL new homes with their own front door offer you the chance to connect with your own private outdoor patio & garden. STANDARD FINISHES include RADIANT IN-FLOOR HEATING; sleek QUARTZ COUNTERTOPS; Stainless KITCHEN APPLIANCE PACKAGE with GAS range & French-door fridge; durable wood laminate floors; porcelain tiles; frontload clothes washer & dryer; natural GAS BBQ outlet; B.l. security system; B.l. fire-resistant safe. Come in today and see for yourself your better than an apartment new home.
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I have listed a new property at 13 9691 ALBERTA RD in Richmond.
Tien Sher Homes' JADE offers the LARGEST CUSTOMIZABLE NEW HOMES in Richmond's central North McLennan neighborhood. SPACIOUS 1,800 sf, 3-bdrm plus den layout with 2-car side-by-side garage can be upgraded to a 4-bdrm plus den! An impressive list of STANDARD FINISHES await you including: sleek Quartz counters; 5-pc Samsung S/ Kitchen appliances w/ GAS range & French-door refrigerator; durable wood laminate main floors; Whirlpool front-load clothes washer & dryer; natural GAS BBQ outlet in outdoor deck/balcony areas; B.l. security; plus B.l. fire-resistant safe for your valuables. Ask us how to add your personal touch with CUSTOMIZABLE FINISHES AND LA YOUTSI Call or come VIEW TWO FURNISHED SHOWHOMES TODAY!
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Housing Market Activity Follows 10-Year August Averages

September 3, 2014

 

The Metro Vancouver housing market experienced steady home sale, listing, and pricing trends for the month of August.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,771 on the Multiple Listing Service® (MLS®) in August 2014. This represents a 10.2 per cent increase compared to the 2,514 sales recorded in August 2013, and a 9.5 per cent decline compared to the 3,061 sales in July 2014.

“Activity this summer has been strong but not unusual for our region,” Ray Harris, REBGV president said. “The volume of home sales has been higher than we’ve seen in the last three years, yet below the record-breaking levels of the past decade.”

Last month’s sales were 4.3 per cent above the 10-year sales average for August of 2,658.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver* is currently $631,600. This represents a 5 per cent increase compared to August 2013.

“Broadly speaking, home prices in the region are continuing to experience modest, incremental gains,” Harris said.
 
New listings for detached, attached and apartment properties in Metro Vancouver totalled 3,940 in August. This represents a 5.9 per cent decline compared to the 4,186 new listings in August 2013 and a 20 per cent decline from the 4,925 new listings in July. Last month’s new listing total was 8.4 per cent below the region’s 10-year new listing average for the month.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 14,768, a 7.9 per cent decline compared to August 2013 and a 5.4 per cent decrease compared to July 2014.

Sales of detached properties in August 2014 reached 1,158, an increase of 10.1 per cent from the 1,052 detached sales recorded in August 2013, and an 85.6 per cent increase from the 624 units sold in August 2012. The benchmark price for detached properties increased 6.6 per cent from August 2013 to $984,300.

Sales of apartment properties reached 1,126 in August 2014, an increase of 10.6 per cent compared to the 1,018 sales in August 2013, and a 55.3 per cent increase compared to the 725 sales in August 2012. The benchmark price of an apartment property increased 3.6 per cent from August 2013 to $379,200.

Attached property sales in August 2014 totalled 487, a 9.7 per cent increase compared to the 444 sales in August 2013, and a 62.3 per cent increase over the 300 attached properties sold in August 2012. The benchmark price of an attached unit increased 3.9 per cent between August 2013 and 2014 to $474,900.

 

* Areas covered by Real Estate Board of Greater Vancouver include: Whistler, Sunshine Coast, Squamish, West Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richmond, Port Moody, Port Coquitlam, Coquitlam, New Westminster, Pitt Meadows, Maple Ridge, and South Delta.

 

Source: REBGV.

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What does no change to borrowing rates mean for you? Whether you're buying or selling, locking in your rate is the first and best step you can make towards keeping your payments low. Ready to get started? Call or email me today for a list of the best mortgage professionals in the area.

 

Read more below.


Bank of Canada Interest Rate Announcement - September 3, 2014

The Bank of Canada once again opted to leave its target for the overnight rate unchanged at 1 per cent. In the statement accompanying today's announcement, the Bank noted that though inflation is close to its 2 per cent target, the recent pick-up in inflation was largely due to temporary factors as the Bank anticipated. In spite of stronger global and domestic economic growth last quarter, the Bank still expects excess capacity in the economy to be absorbed over the next 2 years and judges risks to its outlook to be balanced between higher inflation and still elevated household debt. Therefore, the Bank remains neutral with respect to timing and direction of its next change to the policy rate.


As the Bank noted, economic growth exceeded expectations in the second quarter. However, the economy looks far more pedestrian if averaged over the entire first half of 2014.  Employment growth has been uneven and the Canadian unemployment rate remains stubbornly high. Therefore, the Bank is unlikely to be moved from its current stance after just one strong quarter of economic growth. We expect that the Bank will continue to take a cautious approach to monetary policy until it sees concrete signs that the economy is growing above trend. That means at least one more quarter of solid GDP growth paired with more steady employment gains, as well as similarly strong data in the United States. While the Bank left the door open to lower interest rates given its "neutral" stance, we still anticipate that the next move for interest rates will be upward, though not until 2015. 

 

Article credit: Cameron Muir, Chief Economist and Brendon Ogmundson, Economist, BCREA.

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Rent or Buy? Here's a Calculator to Help You Decide.

Thu, August 21, 2014


Rent or Buy?


Wondering if you should buy a home or keep renting? You’re not alone.

Millions of people are faced with this decision every day, and your move is dependent on a variety of factors: your income, ability to manage maintenance costs/upkeep, how much you’ve saved for a down payment, job stability, the housing market, rental vacancies, monthly payments, interest rates, proximity to work and school – the list goes on.

If you’re stuck trying to choose which option is best for you and your family, the New York Times has a cool tool worth checking out: a rent vs. buy calculator. Input items such as home price, income, the number of years you plan to stay in a place, taxes, fees, etc.. Once you’re done, the calculator computes the equivalent monthly rent. Give it a try!


For a complete picture of what the rent vs. buy prospects are like in your area, give me a call or email

 

Source: The RE/MAX Housing Blog

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Please visit our Open House at 10 9691 ALBERTA RD in Richmond.
Open House on Sunday, August 24, 2014 12:00 pm - 5:00 pm
JADE, 24 unique townhomes in Richmond's highly desirable McLennan North district, features the larges new townhomes available in Richmond. Just minutes away from schools, shopping, Skytrain, and everything else you could possibly need. Standard finishes include radiant floor heating; sleek quartz countertops; Samsung/Maytag SS Kitchen appliances with gas range & French-door fridge; durable wood laminate floors; porcelain tiles; Whirlpool front load washer and dryer; natural gas BQ outlet; B.I. security system; B.I. fire-resistant safe. Phase 1 ready for occupancy. jade discovery centre open everyday from 12pm-5pm (Except Friday). Come view our brand new furnished 3-bedrooms + den and 1 bedroom Garden Suite displays!
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I have listed a new property at 10 9691 ALBERTA RD in Richmond.
JADE, 24 unique townhomes in Richmond's highly desirable McLennan North district, features the larges new townhomes available in Richmond. Just minutes away from schools, shopping, Skytrain, and everything else you could possibly need. Standard finishes include radiant floor heating; sleek quartz countertops; Samsung/Maytag SS Kitchen appliances with gas range & French-door fridge; durable wood laminate floors; porcelain tiles; Whirlpool front load washer and dryer; natural gas BQ outlet; B.I. security system; B.I. fire-resistant safe. Phase 1 ready for occupancy. jade discovery centre open everyday from 12pm-5pm (Except Friday). Come view our brand new furnished 3-bedrooms + den and 1 bedroom Garden Suite displays!
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Please visit our Open House at 10 9691 ALBERTA RD in Richmond.
Open House on Saturday, August 23, 2014 12:00 pm - 5:00 pm
JADE, 24 unique townhomes in Richmond's highly desirable McLennan North district, features the larges new townhomes available in Richmond. Just minutes away from schools, shopping, Skytrain, and everything else you could possibly need. Standard finishes include radiant floor heating; sleek quartz countertops; Samsung/Maytag SS Kitchen appliances with gas range & French-door fridge; durable wood laminate floors; porcelain tiles; Whirlpool front load washer and dryer; natural gas BQ outlet; B.I. security system; B.I. fire-resistant safe. Phase 1 ready for occupancy. jade discovery centre open everyday from 12pm-5pm (Except Friday). Come view our brand new furnished 3-bedrooms + den and 1 bedroom Garden Suite displays!
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I have listed a new property at 15 9691 ALBERTA RD in Richmond.
JADE, 24 unique town homes in Richmond 's highly desi rable McLennan North district, features the largest new townhomesavailable in Richmond. Just minutes away from schools, shopping, Sky train, and everything else you could possibly need.Standard fini shes include radiant floor heating; sleek quartz countertops; SamsunglMaytag SS Kitchen appliances with gasrange & French-door fridge; durable wood laminate floors; porcelain tiles; Whirlpool front load washer and dryer; natural gasBBQ outlet; B.1. security system; B.1. fire-resistant safe. Phase I ready for occupancy. Jade discovery centre open everydayfrom 12pm-5pm (Except Friday). Come view our brand new fu rnished 3-bedrooms + den and 1 bedroom Garden Suites displays!
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Thinking of buying a home soon? Read this! 



New homes in Richmond, BC


5 Financial Missteps to Avoid When Buying a Home


You might have pulled off a great feat, like saving up for that down payment, but there are several financial missteps that can complicate your prospects of buying a home. Avoid these five blunders by managing your spending and bills long before you look for a new home.

1. Letting Your Credit Score Drop


Your credit score directly impacts your ability to get a home loan, the type of loan you qualify for and the interest rate. If you have borderline credit – a score in the low- to mid-600s – further credit mishaps can prevent approval. If you have credit challenges such as bankruptcy or late payments, start your house search several months earlier. Re-establish your credit by paying down credit cards to 30 percent or less of the limit and correcting errors on your report. And avoid checking your credit score too much; constantly checking it counts against you.

2. Languishing in Debt


Consumer debt accounts for 35 percent of your credit score. A late payment's effect depends on the strength of your score, but the account type and the time since the last late payment also matters. If any of your accounts are in collection, it's highly advised you pay them off before seeking loan approval.

3. Shopping Sprees


Stay far away from credit-driven shopping sprees. Even paying cash for big-ticket purchases can raise red flags with a lender. They'll check your bank statements for unusually large deposits and withdrawals and may require an explanation for them.

4. Changing Jobs


A job change may have an adverse effect on your loan approval because lenders calculate your ability to pay a home loan by averaging your past two years of income. If you can avoid interrupting stable employment during the home-buying process, that's probably best.

5. Maxing Out Your Purchasing Power


Even though your lender qualifies you for a certain amount, only you know whether you can comfortably afford the payment. Try to stick with the price range that yields your ideal monthly payment. Looking for homes at the top of your budget limits your ability to increase your offer in a multiple-offer situation.

When you've nurtured your credit and are ready to start looking for a home, contact a lender – and, of course, a RE/MAX agent who can help you find the right home at the right price for you.​


*Source: RE/MAX Mainstreet - The Real Estate Blog, Tue, July 29, 2014.

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I have listed a new property at 126 10788 WHALLEY BLVD in Surrey.
QUATTRO 3 by Tien Sher. New, move in ready home in Surrey's new amenity-rich downtown. "City Centre". Minutes from sky train and walking distance to it all. Includes all the finest finishes, granite counter a top custom cabinets, 5 pieceWhirlpool kitchen appliances package, 2 piece Samsung front loading clothes washer/dryer, oversized windows, plus more. PARKING and storage included. Call today or visit presentation Centre to see finished homes.
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I have listed a new property at 9820 ALEXANDRA RD in Richmond.
HOMEBUYERS & INVESTORS! 2,800 sq.ft. home on 105' x 169' Richmond lot in growing community of new single-family homes, townhomes and condos. Craftsman home offers hardwood floors, cased windows w/ internal blinds, cedar feature walls andceilings, full appliance package, solarium plus so much more. Detached 2-car garage w/ workshop. Live-in, hold or apply for multi-family zoning. Call today!
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I have listed a new property at 7 9691 ALBERTA RD in Richmond.
JADE, 24 unique townhomes in Richmond's highly desirable McLennan North district, features the largest new townhomes available in Richmond. Just minutes away from schools, shopping, Sky train, and everything else you could possibly need. Standard finishes include radiant floor heating; sleek quartz countertops; Samsung/Maytag S/S Kitchen appliances with gas range & French-door fridge; durable wood laminate floors; porcelain tiles; Whirlpool front load washer and dryer; natural gas BBQ outlet; B.1. security system; B.1. fire-resistant safe. Phase I ready for occupancy. Jade discovery centre open everyday from 12pm-5pm (Except Friday). Come view our brand new furnished 3-bedrooms + den and I bedroom Garden Suites displays!
Read Full Story
I have listed a new property at 8 9691 ALBERTA RD in Richmond.
Tien Sher Homes' JADE offers the LARGEST CUSTOMIZABLE NEW HOMES in Richmond's central North McLennan neighborhood. SPACIOUS 1,800 sf, 3-bdrm plus den layout with 2-car side-by-side garage can be upgraded to a-bdrm plus den! An impressive list of STANDARD FINISHES await you including: sleek Quartz counters; 5-pc Samsung S/S Kitchen appliances w/GAS range & French-door refrigerator; durable wood laminate main floors; Whirlpool front-load clothes washer & dryer; natural GAS BBQ outlet in outdoor deck/balcony areas; B.l. security; plus B.l. fire-resistant safe for your valuables. Ask us how to add your personal touch with CUSTOMIZABLE FINISHES AND LAYOUTS! Call or come VIEW TWO FURNISHED SHOW HOMES TODAY!
Read Full Story
I have listed a new property at 19 9691 ALBERTA RD in Richmond.
JADE, 24 unique townhomes in Richmond's highly desirable McLennan North district, features the largest new townhomes available in Richmond. Just minutes away from schools, shopping, Skytrain, and everything else you could possibly need. Standard finishes include radiant floor heating; sleek quartz countertops; Samsung/Maytag SS Kitchen appliances with gas range & French-door fridge; durable wood laminate floors; porcelain tiles; Whirlpool front load washer and dryer; natural gas BBQ outlet; B.I. security system; B.I. fire-resistant safe. Phase 1 ready for occupancy. Jade discovery centre open everyday from 12pm-5pm (Except Friday). Come view our brand new furnished 3-bedrooms + den and 1 bedroom Garden Suites displays!
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Bob Sethi, B.Comm
Office:604.273.2828
Fax:604.273.0685
RE/MAX Westcoast
#110-6086 Russ Baker Way
Richmond, BC
V7B 1B4 Canada

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