Surrey Real Estate Blog | Jashan Grewal

Hello folks, i have been a Realtor in Surrey for 7 years. In my 7 years of experience as a Realtor , have seen different market trends upwards and downwards. Last three years from 2015 to 2018 was a exceptional market that didn't look downwards at all. Every home coming to market was selling in multiple offers, going way above asking price and without any conditions. Buyers were lining up at open houses and day of offer presentation, crossing there fingers that there offer will be the better one but there was only one winner. Things have changed in last 9 months after federal and provincial government intervened to slow down the market. Lot of changes were brought up like foreign buyers tax by provincial government and B20  stress test by Bank of Canada. It worked slowing down the market and lot of people were stuck in difficult situations which happens in upwards and downward markets.  But first time home buyers were affected the most by B20 Stress test. First time home b...

Buying into a strata corporation can be a scary thing for many owners because they have heard horror stories about strata : the strata enforceable large special levies against the owners,  restrictions on what owners can do with their own strata lot, etc. The question of whether you should buy into a strata more often depends on your budget and what you can afford. If your budget points you towards strata living, there are at least 5 things that you should review carefully before you decide to buy a strata lot in that strata. 1. Strata Bylaws A strata corporation can have rules that can severely limit what you can do even inside your strata lot. Most rules buyers are concerned about are rental restrictions, pet restrictions and/or age restrictions. Even further, bylaws can restrict alterations that you can make inside your strata lot. You should carefully review the bylaws to make sure that you can use your strata lot that way you intend to. 2. Form B Information Certif...

Fraser Valley real estate market gears up for spring SURREY, BC – Coming off a mild January, the Fraser Valley real estate market saw an increase in sales activity and overall inventory in February along with decreased prices in several of its communities. The Fraser Valley Real Estate Board processed 982 sales of all property types on its Multiple Listing Service® (MLS®) in February, a 25.3 per cent increase compared to sales in January 2019, and a 29.1 per cent decrease compared to the 1,385 sales in February of last year. Of the 982 total sales, 354 were residential detached homes, 236 were townhouses, and 288 were apartments. Darin Germyn, President of the Board, said of the market: “With inventory continuing to build, and prices softening across many of our areas and property types, buyers will be well positioned to make a move this spring.” There were 6,406 active listings available in the Fraser Valley at the end of February, an increase of 6.9 per cent compared to Janua...

What Are You  Willing to Sacrifice ‘Must-Haves’ in Favor of Good School Districts   It should come as no surprise that buying a home in a good school district is important to home buyers. According to a report  indicated that their home search areas were defined by school district boundaries. What is surprising, however, is that 78% of recent home buyers sacrificed features from their “must-have” lists in order to find homes within their dream school districts. Buyers are attracted to schools with high test scores, accelerated academic programs, art and music programs, diversity, and before and after-school programs. “Most buyers understand that they may not be able to find a home that covers every single item on their wish list, but our survey shows that school districts are an area where many buyers aren’t willing to compromise. For many buyers and not just buyers with children, ‘location, location, location,’ means ‘schools, schools, schools.’”...

How Much Has Your Home Increased in Value? It is important to pay attention to how prices are changing in your local market. The location of your home is not the only factor which determines how much your home has appreciated over the course of the last year. Lower-priced homes have appreciated at greater rates than homes at the upper ends of the spectrum due to demand from first-time home buyers and baby boomers looking to downsize. If you are planning to list your home for sale in today’s market, let’s get together to go over exactly what’s going on in your area and your price range. As a realtor in surrey for 7 years, i can provide you free home evaluation, no obligation. 

Is It Time To Upsize? This is great news if you own a starter home and are looking to move up to a larger home. If you bought your starter home more than 3 years ago then the equity in your home has risen as prices have gone up in last 3 years. Even better is the fact that there is a large pool of buyers out there searching for starter home cause that`s all they can afford now. Which gives your home an advantage to sell quicker. There is a sense of pride that comes along with owning your own home and building your family’s wealth through your monthly mortgage payment. It may seem hard to imagine that the first home you purchased  might not be the home that will allow you to achieve the rest of your dreams. The good news is that it’s ok to admit that your home no longer fits your needs! If you have outgrown your starter home, contact a local realtor in surre y or real estate professional in your city who can explain the market conditions in your area and help you f...

Buying a home is an exhilarating, exciting process even though there are many steps and factors to consider. Knowing what to expect, can make this journey easy. Here are some steps that can help you to prepare for home ownership.  1. Cut unnecessary spending Four-dollar lattes can quickly add up. Get serious about reducing expenses on carry-out food, restaurant meals, entertainment and new clothes. Make a realistic budget of how much you can afford to spend on costs that add up, such as eating out or shopping.  When I bought my first home, I had to cut lot of extra spending to make my budget work out 2. Build a savings account This is very important if you just started to think about buying your first home. Set up an automatic transfer to your savings account from each paycheck. You'll need money for your down payment, and you may be responsible for closing costs on the loan. In addition to your mortgage payment, there will always be unexpected expenses and...