Sunday, April 29, 2012

Chilliwack On A Field of Green

Sheep on a Field of Green © Stephen Mullock
Yesterday, I found this flock of sheep happily enjoying the day on this Prest Road, Chilliwack B.C. farm and stopped to take this picture.  It brought back a flood of memories of my time as a young Chilliwack 4-H Lamb Club member.  My parents bought a 2 acre parcel on Higginson Road, Chilliwack in 1968 and, with the assistance of the generous Higginson family, the Mullock kids soon had their own small flock of Australian Southdown sheep. I suppose it is true that taking care of a flock of sheep instills a sense of responsibility and discipline, there is a fair amount of work that goes along with raising sheep but, I mostly remember the good times we had as a club.  



Chilliwack has a rich farm history and a great number of organizations including a large 4-H organization for the family to enjoy.

There are many smallholdings and farms currently available for sale you'll find them under Residential Homes - Chilliwack or Agassiz - "house with acreage".

Imagine living here...

Stephen Mullock RI
is an award winning full-time real estate specialist with 30 years of experience and hundreds of sales. Thinking of buying or selling real estate in the Fraser Cheam communities of Chilliwack, Agassiz or Harrison Hot Springs? Contact Steve (click here) of Royal LePage Wheeler Cheam Realty for experience, local knowledge and friendly service you’ll be happy you did.

Sunday, April 22, 2012

Photography: Downtown Agassiz under the blossoms





Downtown Agassiz  is unique in that a large block wide forested park is located across the street from a portion of its main shopping centre.  One of the most impressive trees is a flowering cherry tree near the east end of the park.  Its' branches have been the home of many young climber during the summer months and a place of refreshing shade for concert goers taking in the park series of musical shows held here each July and August. 

Be sure to check this small town out.

Imagine living here...


Stephen Mullock RI
is an award winning full-time real estate specialist with 30 years of experience and hundreds of sales. Thinking of buying or selling real estate in the Fraser Cheam communities of Chilliwack, Agassiz or Harrison Hot Springs? Contact Steve (click here) of Royal LePage Wheeler Cheam Realty for experience, local knowledge and friendly service you’ll be happy you did.

Friday, April 20, 2012

Buying Chilliwack Real Estate

Buying Chilliwack real estate need not be a complicated business, but, as in all things, a little guidance and care goes a long away to a successful purchase. 

Chilliwack and the Fraser River from Mt. Cheam © Mullock


Why Chilliwack?  I have to admit to being more than a little biased about the communities in the eastern Fraser Valley but I will try hard to give you a balanced peak at this area. 

Chilliwack Spring Blossoms © Stepehn Mullock


Located in the eastern section of the Fraser Valley 110 km from the Port of Vancouver, Chilliwack is an area of fertile valley-floor farmland, wooded hillsides criss-crossed by rivers, streams and home to Cultus Lake.  It is this mix of wilderness, farm, suburb and city that gives Chilliwack its identity.  Almost completely encircled by mountains people daily rest their gazes on interplay of light and shadow and season on these silent mountain guardians.  Okay, I wax poetic perhaps but I do want to give you the impression that this is a special place.

Buying real estate in Chilliwack really begins with zeroing in on the community that makes the best sense for your family.  Chilliwack offers real estate in city, farm, suburb, hilltop and rural settings.  While most properties have mountain views other have valley, river or lake views as well.

Wharf Cultus Lake © Stephen Mullock

Chilliwack is made up of a subset of communities with place-names like:
  • Chilliwack
    • Fairfield Island
  • Rosedale
    • East Chilliwack
  • Sardis
    • Greendale
    • Promontory
    • Ryder Lake
    • Chilliwack Lake Road
  • Yarrow
  • Cultus Lake
    • Columbia Valley  



View Larger Map

How do you go about choosing a location?  Finding the right real estate in Chilliwack is possible only if you take a moment and consider your families priorities. Do you have livestock or horses?  Do you need to live near a transportation route?  What about schools?  Places of worship? Where are you working?  There are many more questions to ask yourself and the job of a professional Realtor® is to help guide you towards the best fit for both you and your family.  It takes time, be sure to use a local real estate agent, so that, you get the best area knowledge possible.  It can make all the difference in the world.

It is easy to find information on many Chilliwack real estate properties I like the simplicity of the search engine on this website - Search Chilliwack Real Estate.  From this site you can decide to look at Chilliwack real estate in areas such as Rosedale, Sardis, Yarrow, Cultus Lake and of course Chilliwack.  I would suggest bookmarking this site for easy access to the Chilliwack real estate information you are looking for.

That is the start to finding real estate in Chiliiwack. Enjoy.

Stephen Mullock RI
is an award winning full-time real estate specialist with 30 years of experience and hundreds of sales. Thinking of buying or selling real estate in the Fraser Cheam communities of Chilliwack, Agassiz or Harrison Hot Springs? Contact Steve (click here) of Royal LePage Wheeler Cheam Realty for experience, local knowledge and friendly service you’ll be happy you did.Fairfield IslandChilliwack Lake Road

Sunday, April 15, 2012

Photography: Balancing Act


Balancing Act © Stephen Mullock

The Fraser Valley is home to over 300 hundred types of birds including this bashful but beautifully balanced Canadian goose resting on a single leg above a river of squiggly reflections.

If you are thinking that you'd like to learn more about the Chilliwack and eastern Fraser Valley's natural world consider joining one of the many bird and nature groups exploring our fine local wildlife and scenery.

Imagine living here...

Mossy crossing © Stephen Mullock


Stephen Mullock RI
is an award winning full-time real estate specialist with 30 years of experience and hundreds of sales. Thinking of buying or selling real estate in the Fraser Cheam communities of Chilliwack, Agassiz or Harrison Hot Springs? Contact Steve (click here) of Royal LePage Wheeler Cheam Realty for experience, local knowledge and friendly service you’ll be happy you did.

Saturday, April 14, 2012

Mobiles and Manufactured Homes - Pad Rent or Lot Purchase?

While adding to the purchase price the acquisition of a lot in a mobile home park can be a wise decision. Here's why.

Chilliwack Rainbow Estates

Chilliwack Mobile Home Park

After I wrote the article on Mobile and Manufactured Homes in Chilliwack* I wondered if I was missing an important financial piece to the real estate decision making process.  Pad rents can be expensive how would these compare against a lot purchase in a mobile home park such as Baker Trails in Chilliwack?  I asked Wyatt Tunnicliffe of Dominion Lending Centres a mortgage broker to give me some advice using the Median prices of both types of Chilliwack* purchases. This is what he came up with:

Mobile on Pad
    • Purchase Price :  $80,950
    • Minimum Down Payment:  $4,048
    • Amortization:  25 years
    • Interest Rate: 3.39% on a 5 year term
    • Monthly Payments: $389.94 + $470 pad rent = $859.94
Mobile on Land

    • Purchase Price:  $158,900
    • Minimum Down Payment:  $7,945
    • Amortization:  25 years
    • Interest Rate:  3.39% on 5 year term
    • Monthly Payments:  $765.42 + $85 strata = $850.42 + property taxes if applicable
While there is not a lot of difference between the two options, $859.94 Mobile on Pad versus $850.42 Mobile on Land, there are some significant differences that would suggest, that if you have the downpayment, the Mobile on Land to be the superior of the two options:

  1. For almost the same money you will be buying an interest in land.
  2. Purchasing an interest in land, Mobile on Land, eliminates the uncertainty about future mobile home park redevelopment and the eviction notices that are a threat to continued mobile pad rental usage. As a property owner, you would have some say in any redevelopment plans.
  3. You will have a say in the running of the Mobile on Land park whereas otherwise you would have to abide to Pad rental rules and regulations.
  4. More lenders will be available for financing because owning land provides better security for them the result for the borrower might be a better interest rates due to competition.*
  5. It is essential that you understand the type of land interest being purchased is it in fee simple or is it a long term lease - you will need a Realtor® to help you.
*Note:     When calculating payments on mobiles/manufactured homes it is important to know that all lenders will only amortize the loan over the remaining economic life of the unit.  The analysis uses 25 years assuming that the home is relatively new.  If the home is older and an appraiser determines the home has only 10 years of economic life remaining then the payments will balloon ($776.43 + $470 Pad for instance).  Often when financing mobiles on pad with a depreciated value a secured note loan rather than a mortgage is recommended much like a car loan.

*Note:    The key in any purchase is finding the right property at a price that makes sense for you and your family.  The use of a Realtor© and a mortgage broker is the right team of professionals you will need for this investment.


Thank you, Wyatt Tunnicliffe of Dominion Lending Centres for you analysis and assistance in preparing this article.  I should note that a number of my clients have used Wyatt as their mortgage broker all have been pleased with the results.


Stephen Mullock RI
is an award winning full-time real estate specialist with 30 years of experience and hundreds of sales. Thinking of buying or selling real estate in the Fraser Cheam communities of Chilliwack, Agassiz or Harrison Hot Springs? Contact Steve (click here) of Royal LePage Wheeler Cheam Realty for experience, local knowledge and friendly service you’ll be happy you did.

Saturday, April 7, 2012

Photography Chilliwack Fraser River

Fraser River © Stephen Mullock
Thursday night and a bright band of late evening light shines like a beacon under a dense rain cloud over Chilliwack's Fraser river near the west end of Chilliwack mountain.

It was near here, in 1839, that the first white settler's building in Chilliwack was constructed.  Gentlemen interests from nearby Fort Langley having decided that there was a chance for a tidy profit in the salting and preservation of the river's bountiful fish. Soon, salmon from "New Caledonia"  today's British Columbia, was being enjoyed in far off places like England and the Hawaiian Islands.  Chilliwack's European settlement story begins here, next to the river.

Imagine living here...

Stephen Mullock RI
is an award winning full-time real estate specialist with 30 years of experience and hundreds of sales. Thinking of buying or selling real estate in the Fraser Cheam communities of Chilliwack, Agassiz or Harrison Hot Springs? Contact Steve (click here) of Royal LePage Wheeler Cheam Realty for experience, local knowledge and friendly service you’ll be happy you did.

Monday, April 2, 2012

Chilliwack* Real Estate Market Conditions and Sales Analysis - March 2012

Chilliwack* SINGLE FAMILY  HOMES - for March 2012


After a poor February, the second worst in 10 years, I was pleased to see that the March 2012 numbers had improved significantly.  Sure there is still room for improvement, but, the strength of the market has increased from 67% to 77% and the number of sales increased from 78 sales in February to 124 sales in March.

Presently, 14 houses for every 100 homes actively listed are being purchased each month a healthy rate of purchase but still lean.

Average sale price seems to have increased but this in part due to a number of very expensive homes being acquired.  If you are interested in what your property is worth, I would recommend the appraisal services of a professional member of the Real Estate Institute of British Columbia or a Realtor®.








MONTH
SalesAverage Sale PriceDays on MarketActive Listings
Mar 2012124$357,00076909
Feb 201278$340,00085878
Mar 2011114$326,00076n/a






Median SALE Price of Chilliwack* Single Family Detached Homes (SFD)
  • March 2012 - $340,500
  • February 2012 - $332,500


Median LISTING Price of active (939) Chilliwack* Single Family Detached Real Estate Homes :
  • April 2, 2012 - $365,000
  • March 2, 2012 - $369,900

 

 

2012 - 2011 Market Strength

Single Family House Monthly Unit Sales as % of a 10-Year Monthly Sales Average

MonthJanFebMarAprMayJunJulyAugSeptOctNovDec
201281%67%77%
201185%91%75%70%68%93%74%86%86%70%86%92%




Chilliwack* STRATA HOMES for March 2012


The sale of Chilliwack* strata homes returned to almost full strength in March and average sale prices improved as well.  At present time 14 strata properties per 100 as being sold every month a healthy rate of turnover.


MONTHSalesAverage Sale PriceDays on MarketActive Listings
Mar 201274$215,00089493
Feb 201253$205,000105554
Mar 201173$212,00067n/a

Median Sale Price of Chilliwack* Strata Homes:
  • March 2012 $210,500
  • February 2012 - $204,000

Median Price of Active Chilliwack* Strata Real Estate Listings:
  • April 2, 2012 - $218,900
  • March 2, 2012 - $216,000

2012 - 2011 Strata Market Strength

Strata Home Monthly Unit Sales as % of a 10-Year Monthly Sales Average

MonthJanFebMarAprMayJunJulyAugSeptOctNovDec
201293%78%96%
2011100%105%85%86%84%66%66%91%


Notes:This review and analysis looks at the residential markets in the Chilliwack* British Columbia area for the month of March 2011. It is divided into two sections: single family houses and strata homes (apartments and townhouses) and is based upon my armchair analysis work. Use it at your own discretion and risk.

The analysis above is based on my interpretation of information provided by the Chilliwack and District Real Estate Board and does not take into account private sales.

*The term "Chilliwack" is used here quite loosely to refer to an area serviced by the Chilliwack and District Real Estate Board which includes communities such as Chilliwack, Agassiz, Harrison Hot Springs, Hope, Yale and Boston Bar.



Stephen Mullock RI, is an award winning full-time real estate specialist with 30 years of experience and hundreds of sales. Thinking of buying or selling real estate in the Fraser Cheam communities of Chilliwack, Agassiz or Harrison Hot Springs? Contact Steve (click here) of Royal LePage Wheeler Cheam Realty for experience, local knowledge and friendly service you’ll be happy you did.

Sunday, April 1, 2012

REFBC farewell

 
© Stephen Mullock

REFBC
Governor Stephen Mullock
July 1, 2006 to March 31, 2012

Vancouver's beautiful Marine Building is home to the Real Estate Foundation of British Columbia, and since mid 2006, my duties as a Foundation Governor have brought me here on a regular basis. 

I love the way the light pours through these revolving doors whirling people into the dark refreshing cavern of the building or out onto the promise of the street. 

My Governor days came to an end yesterday. Grateful for the experience and the efforts of so many, I would like to extend my thanks to the fine staff, Governors, and partners of the Real Estate Foundation of British Columbia both past and present.

I am tumbled back onto the street; not wishing to have stayed one day further, or, to have departed one day less.


Stephen Mullock RI

is an award winning full-time real estate specialist with 30 years of experience and hundreds of sales. Thinking of buying or selling real estate in the Fraser Cheam communities of Chilliwack, Agassiz or Harrison Hot Springs? Contact Steve (click here) of Royal LePage Wheeler Cheam Realty for experience, local knowledge and friendly service you’ll be happy you did.