I just sold this Townhouse at 56 8383 159TH Street, Surrey, British Columbia .

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Is the market reality finally settling in?

For months I have been saying that most of the listing right now are overpriced. This has caused the buyers to pull back and make the market appear to be slowing down. Now it seems alot of sellers that were not very serious and/or are getting frustrated with the lack of activity caused by a swamped inventory are withdrawing from the market. This leaves the more serious sellers who are at or adjusting to fair market value. As you can see from today's FVREB hot sheets below there is almost as many price reductions as new listings, and the average price reduction was approx $15,690!

I would expect to see activity pick up in mid to late July once the HST has been implemented for awhile. Most new developments seem to be including the HST in their prices already so there should be NO downward pressure on the market.

Scott Williams - Fair Realty

I just finished uploading this Townhouse for sale, 3 13360 KING GEORGE Blvd, North Surrey, British Columbia

Mountain Creek Village. 22 units in the complex, 1422 sqft, 3 bdrm, 2.5 bath, 2 car garage. Tile & laminate on the main. Balcony off the kitchen, functional layout. Bright 3 bdrm above the main w/carpeting. Gas fireplace in the living room.

I just finished uploading this Condo for sale, 314 1442 BLACKWOOD Street, South Surrey White Rock, British Columbia

WOW! Totally updated, 2 bdrm unit with brand spanking new bathroom and kitchen incl cabinets, tile floors, new appls, laminate flrs, fresh paint and much more. Maint incl heat and hotwater. No age restriction and pets are ok. Hurry on this one before its gone!

I just sold this House at 15180 61A Ave, Surrey, British Columbia .

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I just sold this Land Only at 26582 Reynolds Road, Hope, BC .

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I just finished uploading this Condo for sale, 707 13383 108TH Ave, North Surrey, British Columbia

CORNERSTONE, this sought after bldg is centrally located close to Sky train, SFU, Surrey Central Mall. Large corner 1 bdrm + den unit w/lots of updates incl new laminate floors in kitchen, new stainless steel appliances, modern tone on tone paint, update plumbing fixtures, gas f/p, in suite laundry, outdoor pool & hot tub. Underground parking/extra storage locker & bike room. Design award winning bldg-well managed & landscaped offering amenities including outdoor swimming pool, indoor hot tub, sauna, gym, theatre, lounge, plus 7/24 security/monitored & remote access.

Excerpts from the FVREB President's Column.


The BC government has raised the Provincial HST new housing rebate threshold to $525,000 from $400,000 AND increase the maximum rebate to $26,250 from $20,000.

What difference does that make? To give you an idea, of the 137 new homes (detached and attached) that sold on Fraser Valley’s MLS® in April (with an age of zero), 22 properties sold for between $400,000 and $525,000 – the average price being $475,658.

I feel the second key message is almost more important than the first one. Most buyers across the Lower Mainland may not have realized yet that the Fraser Valley will offer consumers noticeable savings when the HST comes into effect because about half of our new homes fall under the BC new housing rebate threshold.

Let me explain. Virtually all new townhomes and apartments in the Fraser Valley sell for less than $525,000. Therefore, the impact of the HST on these real estate transactions will be minimal. However, keep in mind the full 12% HST (as opposed to the current 5% GST) will apply to fees for professional services related to sales of new or existing homes.

In terms of detached homes – most new homes in the Fraser Valley are selling for above the threshold of $525,000. Although, I was just looking at a lovely new detached home in Cloverdale for one of my clients: asking price $499,000 + GST.

Rest assured, homes like this are undoubtedly going to attract even more attention after July 1st and it’s up to our members to promote the fact that in the Fraser Valley many beautiful, new detached homes and an endless supply of new attached homes will be nearly HST-free.

I just finished uploading this House for sale, 12440 102ND Ave, North Surrey, British Columbia

HOME IS IDEAL FOR CAR BUFFS with attached single garage AND a detached double garage tucked in behind with easy side access and loads of parking. This solid basement home has an awesome view of New West, Fraser River and Mtns! Home is original but clean and in good condition. Living room boasts floor to ceiling, wall to wall windows and sliding doors to front balcony fully taking in the view. Basement partly finished and waiting for your ideas. Large landscaped 8604 sqft lot. This unique home won't last.... HURRY!!

I just sold this House at 7269 144TH Street, Surrey, British Columbia .

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I just sold this House at 9022 161ST Street, Surrey, British Columbia .

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I just sold this Townhouse at 9 6785 193RD Street, Cloverdale, British Columbia .

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