Friday, May 27, 2016

7045 Oakwood Drive, Agassiz, BC - A Sweet Spot


Call it a "sweet spot" when the location is almost as perfect as it can be. This property is located in an older but many think the best street in Agassiz for a number of reasons. The first is the generous lot size - this property has a wide frontage and encompassing .25 acres. It is hedged for privacy on 3 sides and now boasts a number of shade and decorative trees including oak. Ample frontage allows a separate driveway for the parking and storage of all sorts of recreation vehicles.


Then there is house - well set back from the road. Rarely do you see extra vehicles parked on Oakwood Drive. Why? Because all properties offer long driveways. Nice.

The house was built in 1988 but has seen some major reinvestments into it during the past couple of years. A new furnace and central air conditioning system were added. A water purification system installed. Records indicate the shingles were replaced in 2005. There is some remodelling to be undertaken but that will only help transform the property into your own.

Click on this LINK to see more details, meanwhile here are a few pictures.










Imagine living here ...... give Steve a call....sweet



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.

Friday, May 13, 2016

Adult Living in Agassiz - Cypress Park & My New Listing

This property was sold very quickly - contact Stephen Mullock using the form to the left for your real estate.


The growth and popularity of age restricted +55 years communities are now a 25 year old phenomena. Newly built units can be purchased in nearby Sardis at prices above $450,000 but a more affordable alternative is the active resale market in Sardis, Chilliwack, Agassiz and Harrison Hot Springs. Many of these resale homes are lightly lived in and in pristine condition. 


Click Picture for Property Details
Demand for this form of housing, I predict, will only gain momentum. Why? In a word, "baby-boomers".  Okay, maybe that is two words. Oh, one floor living is about to make a comeback too.

One of my favourites is Cypress Park which offers compact easy to maintain homes with sensible floor plans.

The Cypress Park complex, built 1990 - 1991, consists of 21 freehold bareland strata single family detached houses that provide 2 to 3 bedrooms and sizes that range from 1330 to 1450 square feet. It does have some RV parking but it is limited and often full. No rentals are allowed, pet restrictions apply and a 55+ age requirement is in place. Strata fees are $75 per month covering a variety of items such as lawn cutting.

New Listing as of May 2016 - #2 - 7354 Morrow Road (Cypress Park), Agassiz BC

$325,000 - 2 bedrooms, 2 bathrooms, 1330 square feet, single garage

Rear Yard - Click Picture for Property Details





Master Bedroom and Ensuite
Ensuite
Second Bedroom
Living Room
Natural Gas Fireplace
Dining Room
Big sliding doors lead to a partly covered concrete patio
Kitchen has plenty of cabinets
Generous eating area and pantry storage closet

Laundry tidy and functional






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.

Wednesday, May 4, 2016

April 2016 - The Stephen Mullock Report: Chilliwack* Real Estate in Review and Analysis


The Chilliwack* and District Real Estate Board* (CADREB) residential real estate market was HOT in February 2016 (283 sales), I called it SMOKIN' HOT in March 2016 (494 sales) and now in April 2016 there were 530 residential sales. I have run out of superlatives for the moment to describe this market but do I need one?  We would normally expect a bump up in sales between April and March due to seasonal factors so SMOKIN' HOT will still serve. Still what does SMOKIN' HOT mean if you are a seller or a buyer?

It means this if you are a seller: shorter marketing periods, potentially competitive offers and higher prices. It is important to hire a local real estate agent who will put your interests first and so attract the best deal for you. It is important for those selling to have a destination in mind as the remaining inventory has been hammered by demand in 2016 and is only 2/3s of what it was this time last year. Good luck.

It means this if you are a buyer: some frustration finding the ultimate property fit, more compromising on that fit, to buy you must have all your "ducks in a row" and that means financing for most buyers, there is a potential for bidding wars, best way to avoid a "bidding war" is to get out early as product gets placed on the market, work with a local agent and be loyal to that agent (they have lots of other buyers they can work with, so build a relationship). In life, you need a bit of luck as well. Good luck.

My experience perhaps was typical with a lot of out of town buyers starting to consider the Chilliwack* real estate market based on relatively unaffordable Metro Vancouver/Fraser Valley prices. I am a bit sad about the price prominence of this decision making. Money. Chilliwack and its surrounding communities have a lot to offer besides the cost of our real estate. 


Let's get to the numbers.

Monthly statistics give us some insight on the overall strength and condition of the Chilliwack* real estate market. This report looks at the 3 most popular housing choices of the 6 available - single family detached homes, town houses and apartments.


Single Family Detached house sales were up 13% when compared to the numbers last month with average prices increasing from $446,000 to $461,000. 


Townhouse sales were down 17% compared to the previous month with average prices jumping from $292,000 to $311,000. 

Apartment sales had been lagging in February improved by 70% in March and in April by another 17%.  Average sale prices rose from $159,000 to $172,000 to $176,000 during that 3 month period. I did predict this would happen and now my impression is this, the bulk of a the winter surplus of supply has been absorbed and further price increases are expected. 

Residential inventory levels as of May 1, 2016 are up for the first time in 3 months to 992 from 978 a month ago; they should be rising that is part of the seasonal pattern. Compared to this time in 2015 the levels are 66% of what they were with more buyers in circulation. 

May is already another busy real estate month. 


Final word of advice - working and building a relationship with real estate agents experienced in the "local" area is essential in this real estate environment.



SINGLE FAMILY DETACHED HOUSES  - SOLD


MONTHSales Average Sale Price 
Active Listings
Apr 2016 306$461,000
466
Mar 2016 270$446,000
454
Feb 2016 163$399,000468
Apr 2015 156$361,000   




TOWNHOUSES - SOLD

MONTHSales Average Sale Price    Active Listings
Apr 2016 118$311,000
201
Mar 2016 143$292,000
184
Feb 2016 78$292,000
227
Apr 2015 30$258,000





APARTMENTS - SOLD


MONTHSales Average Sale Price Active Listings
Apr 2016 54$176,000
157
Mar 2016 46$172,000
174
Feb 2016 27$159,000
175
Apr 2015 30$161,000

To get today's best value - contact local agent Stephen Mullock Realtor©

Imagine living here....




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.

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


Copyright © 2016 Stephen Mullock. All rights reserved. Reproduction in whole or part is prohibited without written permission.


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.