Monday, July 28, 2014

CADREB turns 50! Happy Birthday Chilliwack and District Real Estate Board!


HAPPY BIRTHDAY CADREB!   CADREB being the Chilliwack and District Real Estate Board is 50 years old as of today, July 28, 2014.

On this day, July 28 in 1964 a very special meeting was held at Chilliwack's Royal Hotel to confirm the formation of a co-operative listing organization and call it the Fraser Valley Real Estate Board. Nine offices of the local 13 real estate offices in existence were present. This newly penned board name would later be changed to the Chilliwack and District Real Estate Board after the adjoining Westminster County Board challenged Chilliwack's right to call itself the Fraser Valley Real Estate Board.  Never mind, on that day, 50 years ago, the motion to confirm the formation was carried and today CADREB extends from the Vedder canal to Boston Bar with over 269 licensed real estate agent members.  I thought it might be interesting on this the BIG 5-O to have a look back at the beginning.



With the exception of Wheeler Realty all other real estate companies from 1964 have disappeared with the passage of time.  Those founding Chilliwack/Agassiz real estate offices 50 years ago included:
  1. The Chilliwack Realty
  2. Canada Permanent
  3. Empress Insurance Agencies Ltd.
  4. S.M. Griffiths and Son Real Estate
  5. F. J. Heal Ltd.
  6. Home-Makers Realty & Insurance
  7. Ivan Hurndall Realty Ltd.
  8. Mainland Realty Ltd.
  9. McGaw Realty Ltd.
  10. Princess Agencies Ltd.
  11. Valley Realty Ltd.
  12. Wellington Realty Ltd
  13. John P Wheeler & Company 
John P Wheeler & Company real estate firm has evolved to become Royal LePage Wheeler Cheam Realty, an office where I hang my license.  It is the oldest real estate company in Chilliwack.

The world and the world of real estate were quite different in 1964.  Properties would have been sold on the strength of a handshake. Today, all contracts in land have to be in writing and 7 - 8 pages of carefully crafted terms and conditions are not unusual. There would have been a lot more face-to-face meetings as mobile phones, email, fax, and computer technologies were still decades away.  A lot of driving.  Finding the right property meant scouring the local Chilliwack Progress or dropping into one of the 13 real estate Chilliwack and Agassiz offices.  Contract would have been written in hand on carbon-copy paper so good hand writing was a necessity. Financing would have been more difficult and vendors carrying mortgages more common.

After a year of operation, 164 real estate listings had been obtained, 30 had been sold at an average price of $8,945.  The operational expenses of the "Board" amounted to $999.80.

I found these ads from the 1964 Chilliwack Progress:















Since, 1964 the Chilliwack and District Real Estate Board has seen a great number of advancements and is looking pretty good for a 50 year old.  Happy Birthday!


Imagine living here....

Stephen Mullock
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.

Tuesday, July 22, 2014

An Angel Smiles on Agassiz




An angel smiles down upon Agassiz, B.C. or at least that is what many of the local residents believe. Tucked into the folds of nearby Mount Cheam this "snow angel" returns each year as the annual melt take place. It is a sight to be seen.  I took this picture about a week ago from Evergreen Street. With wings raised, it is as if a blessing was being conferred on the local people.



Of course during a hot summer most of the snow forming the angel melts but usually never all of it. Still there is an ominous side as well.  The First Nation people have a belief that if there is not enough snow to form the angel then fish will be scarce.

Imagine living here... overlooked by an angel


Stephen Mullock
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.

Thursday, July 17, 2014

West Coast Forest and Waterfall Picture



Deep in the Forest © Stephen Mullock

Sometimes I take a picture and just wish to share it.  I took a few hours off my real estate duties yesterday to hike into the Chilliwack west coast forest to a series of miniature waterfalls. Fortunately, I wasn't hiking alone - never a good idea. One of my trail buddies, Sue, is perhaps the best waterfall photographer in the eastern Fraser Valley. She quickly gave me some pointers - I set up my tripod and viola - some forest magic. Okay, there were plenty of poor pictures before the "viola" moment, but there is no need to show them - right?  Thank you Sue.

Anyways,  I hope you like it.  If you do, let me know.

Imagine living here....close to the magic of the forest


Stephen Mullock
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.

Tuesday, July 15, 2014

New B.C. Provincial Highway Speed Increases a Big Mistake

 
Recent speed increases on our provincial highways will negatively impact motorists financially, physically and hurt the environment.  Maybe we will shave some time off our trips but, ask yourself, "Is it worth it"?
 
Earlier this month the British Columbia government  raised speed limits on a number of highways including Highway 1, east of Abbotsford.  Here the speeds were boosted from 100 kilometers an hour (km/h) to 110 km/h.  The reason Transportation Minister Todd Stone explained as quoted in the Vancouver Sun of July 2, 2014 was to "bring the speed limit in line with actual travel speeds".  It is true that this section of the highway prior to the increase saw speeds commonly in the 110-120 km/h range.  Most driver's were aware that going 20 km/h over the posted speed limit bumped you into a new traffic ticket area and so moderated their speed to something below 120 km/h. Now that range bumps up to 130 km/h.  There are three reasons not to like these speed increases.


 
 
1.  Your Pocket Book
 
You would probably guess that speed affects your fuel consumption. So it will be more expensive to drive on these highways at the posted speed.  Gas prices have headed upward in recent years and are not expected to retreat.
 
 Cars become less efficient as speed increases according to this gas-mileage-calculator website:
  • driving at 90 km/h 55mph is a recommended speed to optimize efficiency
  • driving at 100 km/h causes a fuel consumption increase of 6%
  • driving at 110 km/h causes a fuel consumption increase of 16%
  • driving at 120 km/h causes a fuel consumption increase of 23%
  • driving at 130 km/h causes a fuel consumption increase of 28%
This means you will burn more fuel over the same distance, even if you just maintain the speed limit.
 
2.  Air Quality
 
While the province did get an engineering assessment on each highway section no where I have read did they consider the carbon pollution that will be created with these speed increases.  If vehicles are more inefficient as speed increases it stands to reason that more air pollution will be the result. 
 
We pay  a carbon tax on our fossil fuels in an attempt to protect the environment and here we are being encouraged to burn fuel faster. 
 
Has the province consider a carbon offset for the additional pollution created?
 
It seems ironic to me that while the eastern Fraser Valley communities and their citizens band together to fight and protect our delicate air shed from foes such as SE2 and GVRD trash incineration they have remained mute on this issue; perhaps, because there is no "big bad guy" target but ourselves.
 
3.  Collision Speed
 
Accidents happen and the higher the speeds the more likely that someone is going to get seriously hurt.  Every year we pass accidents on the highway.  Many times speed and road conditions are to blame.  Road conditions vary a lot here with our rain, snow and ice.  My concern is the amount of time needed to brake to avoid being involved in a multi-vehicle pile-up. Particularly, as it seems many drivers like to sit right on your bumper - leaving little time to react.  It's noteworthy that the RCMP and the B.C. Association of Chiefs of Police objected to these speed increases and were overruled. 
 
The province need to revisit these speed increases.  Share this message and start a conversation.


Imagine living here and reduce your highway speed....

Stephen Mullock
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, July 14, 2014

Harrison Festival of the Arts - The Coolest Place to Be


Kobo Town © Stephen Mullock

The Harrison Festival is on now between July 12 - 20th and it is definitely the coolest place to be in the Valley.  This weekend we caught the Memorial Hall performance of Kobo Town and danced the night away. This festival provides a unique opportunity to hear music all around the world and broadening an appreciation of the mixed heritages Canadians share.

It took Kobo Town, a Caribbean calypso band fronted by Canadian- Trinidadian Drew Gonsalves, a single song before the hall was filled with swaying hips and bobbing heads. Touching on the plights of the Trinidad nation with songs from the 1930s and current material from their excellent albums this band hits a mighty groove that keeps on your feet.

My advice - this is a beach week - head to Harrison Hot Springs and live a little.  Details about festival events and how to book tickets can be found at the Harrison Festival Society website.  Lots of free stuff to check out and a children's day this Wednesday July 16, 2014 so bring the kids.

REAL ESTATE

Life is a beach and I have just listed an upper 2 floor 3 bedroom beach front condo for $399,000. Spectacular views.  For details on this and other properties in Harrison Hot Springs please give me call.







Stephen Mullock
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.

Tuesday, July 1, 2014

Chilliwack* Real Estate Review and Analysis June 2014


June was a remarkable period of time for the sale and purchase of real estate in the Chilliwack Real Estate Board.  Strength in both the sale of strata homes as well as single family detached homes lead to the best month this board area has seen since 2007.  What had been a Buyer's market seems to be evolving into a Seller's market which traditionally leads to price increases.  At present, however, prices are for the most part unchanged this year and still very competitive.  Low mortgage rates and a recovery in the economy are the driving forces behind the strength in the market.  

The Agassiz market appears to have been overlooked and some of the best buys are located there.

Steve was a great asset to help us sell our home in a short time.  In fact, time was not on our side, but with his help, we sold our house, we were and able to make the things work out just right. Steve was always available to answer any questions and to be ready to offer ideas for improvements.  Regardless of how busy he was, we always felt like he time for us and that we were listened to. We loved opportunities to meet with him regularly to discuss showings that occurred or to just simply check in. Easy to speak to and visit with, but very professional at the same time. He has sold two of our homes and helped us to buy one.  If anyone was looking for a realtor to work with, we would not hesitate to recommend Steve Mullock.


The Chilliwack* real estate board area (CADREB) which includes the outlying communities of Agassiz, Harrison Hot Springs, Hope and parts of the Fraser Cascade Regional District recorded 177 sales of single family houses and 109 sales of strata homes such as townhouses, and apartments in June 2014. A total of 286 residential properties representing a 3% increase in sales volume over May.  Very nice, since May was a really good month as well for the sale of Chilliwack* homes.  

So far, the first 6 months of 2014 have been the best real estate market conditions we have seen in since 2007, and, indications are that this trend will last for some time.


This report divides Chilliwack* residential properties into two classifications; single family detached and strata.  There is often a significant difference in market vigour between the two classifications and for this reason I like to view them separately.


Sales of Single Family Detached Houses

The Chilliwack* real estate board area (CADREB) which includes the outlying communities of Agassiz, Harrison Hot Springs, Hope and parts of the Fraser Cascade Regional District recorded a total of 177 sales of single family houses in June 2014. This was down a little from the May total of 184 sales of Chilliwack single family homes.
  
A list to sale ratio of 19.4% is similar to the 19.6% a month earlier indicating a balanced competitive market for Chilliwack* single family detached homes.

Please remember to use the services of a Realtor© to maximize your chances for a successful purchase or sale. Give me a call if you are looking for professional service in the Chilliwack, Agassiz, Kent or Harrison Hot Springs areas.

MONTHSales/Average Sale Price/Days on Market/Active Listings
Jun 2014177$355,00057989
May 2014184$358,00053970
Jun 2013137$367,00074n/a




Median SALE Price of Chilliwack* Single Family Detached Homes (SFD)
  • June 2014 - $337,500
  • May 2014 - $349,000
  • April 2014 - $341,500
  • March 2014 - $347,500
  • February 2014 - $339,000
  • January 2014 - $348,000
  • December 2013 - $334,500
  • November  2013 - $334,000
  • October 2013 - $321,000
  • September 2013 - $336,000
  • August 2013 - $309,500
  • July 2013 - $347,500
  • June 2013 - $349,500
  • May 2013 - $339,500
  • April 2013 - $338,000
  • March 2013 - $364,000
  • February 2013 - $315,000

       
    Median LISTING Price of active Chilliwack* Single Family Detached Real Estate Homes:
    • July 1, 2014 - $359,900
    • June 2, 2014 - $359,900
    • May 2, 2014 - $364,900
    • April 8, 2014 - $359,900
    • March 3, 2014 - $354,900
    • February 1, 2014 - $349,900
    • December 3, 2013 - $359,900
    • November 1, 2013 - $359,000
    • October 1, 2013 - $364,900
    • September 3, 2014 - $358,000
    • August 1, 2013 - $349,900
    • July 2, 2013 $359,900
    • June 4, 2013 $365,000
    • May 2, 2013 $369,900
    • April 1, 2013 $359,900


      2013 - 2011 Market Strength for Chilliwack* Single Family Houses

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

      MonthJanFebMarAprMayJunJulyAugSeptOctNovDec
      2014 - %94%1008295100110





      201397%68%60%75%82%83%82%87%105%79%83%80%
      201281%67%77%77%83%70%88%54%70%88%91%80%
      201185%91%75%70%68%93%74%86%86%70%86%92%



      Sales of Strata Homes (Apartments, Townhouses etc.)



      Garrison Crossing Townhouses

      The Chilliwack* real estate board area (CADREB) which includes the outlying communities of Agassiz, Harrison Hot Springs, Hope and parts of the Fraser Cascade Regional District recorded a total of 109 sales of strata homes (apartments, townhouses) in June 2014.

      The 109, Chilliwack* real estate board strata sales were a 17% pick up in strength when compared to the month earlier May's 2014 total of 93.  109 sales beat the 82 sales that would usually be expected for June based on a 10-year average by a substantial margin
        
      A list to sale ratio of 18% indicates that the market is moving from a Balanced to a Seller's market for Chilliwack* strata homes. 

      Once again, please remember to use the services of a Realtor© to maximize your chances for a successful purchase or sale. Give me a call if you are looking for professional service in the Chilliwack, Agassiz, Kent or Harrison Hot Springs areas.


      
      MONTHSales/Average Sale Price/Days on Market/Active Listings
      Jun  2014 109$218,00079482
      May  2014 93$208,00078537
      Jun  2013 78$216,00092n/a


      Median SALE Price of Chilliwack* Strata Homes:
      • June 2014 - $219,500
      • May 2014 - $220,500
      • April 2014 - $220,500
      • March 2014 - $243,000
      • February 2014 - $239,000
      • January 2014 - $216,000
      • December 2013 - $232,500
      • November 2013 - $202,000
      • October 2013 - $199,500
      • September 2013 - $212,500
      • August 2013 - $209,900
      • July 2013 - $231,500
      • June 2013 - $211,000
      • May 2013 - $211,000
      • April 2013 - $204,000
      • March 2013 - $229,000
      • February 2013 - $208,000



        Median LISTING Price of active Chilliwack* Strata Real Estate Listings:
        • July 1, 2014 - $219,000
        • June 2, 2014 - $219,900
        • May 2, 2014 - $214,900
        • April 8, 2014 - $219,000
        • March 3, 2014 - $219,900
        • February 1, 2014 - $219,900
        • January 2, 2014 - $212,500
        • December 3, 2013 - $214,900
        • November 1, 2013 - $214,900
        • October 1, 2013 - $214,900
        • September 3, 2013 - $194,500
        • August 1, 2013 - $212,000
        • July 2, 2013 - $213,900
        • June 4, 2013 - $214,900
        • May 2, 2013 - $210,000
        • April 1, 2013 - $212,500
        • March 1, 2013 - $209,900
        • February 1, 2013 - $217,500


        2011 - 2013 Strata Market Strength

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

        MonthJanFebMarAprMayJunJulyAugSeptOctNovDec
        2014 - %90%6672106105134





        2013100%81%89%73%87%99%84%85%79%10868%90%
        201293%78%96%70%87%85%97%67%89%76%11482%
        2011100%10585%86%84%66%66%91%


        The information presented in this post has been prepared by the author Stephen Mullock, using information from the Chilliwack and District Real Estate Board.  The information has been drawn from sources deemed to be reliable, but the accuracy and completeness of the information are not guaranteed.

        In providing this information, neither Stephen Mullock nor the Chilliwack & District Real Estate Board assumes any responsibility or liability.

        Copyright © 2014 Stephen Mullock. All rights reserved. Reproduction in whole or part is prohibited without written permission.


        Imagine living here...

        Stephen Mullock
        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.