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Every year our office as held an end-of-year client appreciation event, but this year I felt that I really needed to give an extra special thank you to my clients, referrers and other supporters.

 

So this May 14th, I invited 99 of my past/present clients, referrers & supporters to the semifinal of the Amway Canadian championship game game to show my sincere appreciation to those who have supported my business over the years.

I can do open houses, advertise my face in bus benches and flyer entire neighbourhoods until I'm blue in the face, but over 80% of my business every year still comes from YOUR referrals. You have no idea how thankful I am for this.
 
 I hope that those who were able to make it had an awesome time! So many people had never seen a game before, but I think the 'Caps may have some new fans!

Thanks for coming out everyone and I look forward to hosting another one next year so please never forget that I am never too busy for your referrals. (PS if you have any more pictures from the game I can post, please send to richertrealestate@gmail.com)

 

 

 

 

 

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I have listed a new property at 6 15168 66A AVE in Surrey.
Porter's Cove offers one of Surrey's best townhome experiences. These homes are rarely seen on the market due to their ideal location, close to schools, transit, shopping, and recreation. This particular home offers 2150 sq.ft. of living space with roomy 9' ceilings. Rich features include smartly designed kitchen w/ stainless appliances & laminate flooring. The Master bdrm offers its own walkout balcony, walk-in-closet and full ensuite. Downstairs has incredible rec room, perfect for media, gym, or office. This one won't last, call today for a private viewing!
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Please visit our Open House at 6 15168 66A AVE in Surrey.
Open House on Sunday, May 25, 2014 1:00 pm - 3:00 pm
Porter's Cove offers one of Surrey's best townhome experiences. These homes are rarely seen on the market due to their ideal location, close to schools, transit, shopping, and recreation. This particular home offers 2150 sq.ft. of living space with roomy 9' ceilings. Rich features include smartly designed kitchen w/ stainless appliances & laminate flooring. The Master bdrm offers its own walkout balcony, walk-in-closet and full ensuite. Downstairs has incredible rec room, perfect for media, gym, or office. This one won't last, call today for a private viewing!
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Please visit our Open House at 19 15168 66A AVE in Surrey.
Open House on Sunday, May 25, 2014 1:00 pm - 3:00 pm
PORTER'S COVE is Surrey's PREMIERE Duplex-style townhomes. This "Phase II" unit presents an incredibly spacious 2,140 sq.ft. of living space with an open floor plan & additional basement entry. Beautiful flooring, high ceilings, and granite throughout makes this a show-stopper! You must come see to believe. This home is barely lived in & well maintained, just move in!
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On December 14th, 2013, our office held its 20th annual Christmas movie event at Colossus theatres in Langley. We've looked forward to this event every year. It has been a wonderful opportunity for us to say "Thank You" to our clients as well as a way to give back to the community as a fundraiser for the Langley Food Bank.

 

Every year we select one classic Christmas/holiday movie and one kids movie and we filled up as many theatres as we can (we've had up to 4 completely packed!). Over the last few years, these are some of the movies we've shown:

 

2013: "It's a Wonderful Life" & "The Croods in 3D"

2012: "Miracle on 34th Street" & "How to Train Your Dragon in 3D"

2011: "White Christmas" & "Kung Fu Panda in 3D"

Hope to see you again this year!

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I have listed a new property at 19 15168 66A AVE in Surrey.
PORTER'S COVE is Surrey's PREMIERE Duplex-style townhomes. This "Phase II" unit presents an incredibly spacious 2,140 sq.ft. of living space with an open floor plan & additional basement entry. Beautiful flooring, high ceilings, and granite throughout makes this a show-stopper! You must come see to believe. This home is barely lived in & well maintained, just move in!
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I have sold a property at 307 5474 198 ST in Langley.
A CONDO WITH TWO-CAR GARAGE! This is the home you've been waiting for. Gorgeous granite countertops accentuated by rich floors & beautiful designer colour scheme. Balcony & windows overlook the quiet side of complex with greenbelt. Don't hesitate on this rare opportunity to own a smart living space with full, secure two car garage with room to spare! Pet friendly! Call today for a private viewing!
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Please visit our Open House at 5097 219A ST in Langley.
Open House on Sunday, May 11, 2014 1:00 pm - 3:00 pm
CHARMING Murrayville home in quiet neighbourhood with the curb appeal you dream about. Original, pristine hardwood floors throughout main floor. Plenty of natural light & spacious kitchen. Master brdm w ensuite offers views of the mountains& Langley. What really sets this home apart is the yard - a spectacular water feature w waterfall surrounded by beautiful gardens. Don't miss out on this one, call today for a private viewing. Pre-approved for Home Renovation Plan for your home customization needs!
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Please visit our Open House at 5097 219A ST in Langley.
Open House on Saturday, May 10, 2014 12:00 pm - 2:00 pm
CHARMING Murrayville home in quiet neighbourhood with the curb appeal you dream about. Original, pristine hardwood floors throughout main floor. Plenty of natural light & spacious kitchen. Master brdm w ensuite offers views of the mountains& Langley. What really sets this home apart is the yard - a spectacular water feature w waterfall surrounded by beautiful gardens. Don't miss out on this one, call today for a private viewing. Pre-approved for Home Renovation Plan for your home customization needs!
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I have listed a new property at 5097 219A ST in Langley.
CHARMING Murrayville home in quiet neighbourhood with the curb appeal you dream about. Original, pristine hardwood floors throughout main floor. Plenty of natural light & spacious kitchen. Master brdm w ensuite offers views of the mountains& Langley. What really sets this home apart is the yard - a spectacular water feature w waterfall surrounded by beautiful gardens. Don't miss out on this one, call today for a private viewing. Pre-approved for Home Renovation Plan for your home customization needs!
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I want to address some recent news articles currently being circulated in our mainstream news sources. You might read some headlines about B.C.'s "hottest spots" or "top cities to buy real estate". As headlines often are, these could be misleading to the public. Journalists are not real estate professionals and sometimes do not discriminate the sources of their information nor take care to educate, instead looking solely for increased readership quantity.

The current articles in these mainstream new sources are based on the Real Estate Investment Network's "Top BC Investment Towns" - an annual publication. I'm not here to criticize or critique REIN or their publication. What I am wanting to clarify is that the mainstream media may be erroneously reporting what the publication is and what it means to buyers and to write a somewhat pretentious rambling disclosure to these articles.

REIN is a real estate investors network with some great resources for investors. However, this does not mean that this is necessarily a good reference for most home buyers. Some of the best investments are in areas you would never want to live in, but this is not REIN's focus.

When a real estate professional talks about "hot" markets, they are generally looking at the ratio between active listings and sales as well as the increase of prices (which, based on supply and demand will follow after a high sales-to-listing ratio). If a neighbourhood is "hot" (say, like Walnut Grove in Langley this Spring) it does not necessarily mean it is a good "investment", it means that most of the properties on the market are selling. A hot market will lead to higher prices, which often is the exact opposite of what a real estate investor is looking for. Investors want to buy low, not high. Keep in mind that a "hot market" for a real estate professional is based on past numbers, or at most present anecdotes, not future speculation.

When other organizations, such as the Economist Intelligence Unit, produce publications on a "livability" of the city, their criteria changes based on many factors outside of real estate. This is why the "best" places to live may not necessarily be the hottest markets, but as supply and demand tells us, if people want to be there, they will, and they will pay a premium for it.

When REIN reports on the top places to invest in, their criteria is not based on the same that a "hot market" or "highest livability" report would. Surrey repeatedly tops the places to invest in not because it is a "hot market" or that it is necessarily highly "livable". It does so because the executive team at REIN (and I myself agree) can show that Surrey is a good long term investment because you can purchase homes at a relatively low price now and speculate that the future of Surrey is positive, both for later resale value and for holding/renting. However, a community such as Langley generally ranks low even though it is perennially a "hotter market" because prices are higher in many of its communities and therefore is often harder to see a return on investment.

I hope this explains why I will not circulate potentially misleading articles. However, if you would like reports on what the health of your local community is or what the actual "hottest markets" are, please follow my blog http://bradrhomes.com/blog.html or this facebook page. If you would like access to investor materials, please contact me at bradrichert@macrealty.com or 604-510-4825 and I will be happy to help you with your investment needs.

Brad Richert
Macdonald Realty

*Views are my own and may not represent those of Macdonald Realty Ltd. or its affiliates, subsidiaries and/or agents.

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CLOVERDALE MARKET UPDATE

 

Detached Homes
Over 30% of homes on the market in Cloverdale sold in April, putting pressure on the low inventory market. While benchmark values did decrease a slighht -0.5% from the previous month to $594,600, it is still over +4% from where we were this time last year. With Clayton/Cloverdale selling well, expect prices to hold or increase in coming months.

 

Townhouses
Cloverdale's townhouse market dipped from a "sellers market" to a "balanced market", albeit riding that ambigious line. Still, 21.5% sales to listing is still healthy where buyers feel that they are getting value for the money they are spending. Benchmark prices are down -1.8% from the previous month to $330,800 but represent an increase of almost +3% from last April.

 

Apartments
Cloverdale's small apartment market got a bit of a boost, with sales to listing pushed up to 16.5%, which is a vast improvement on the single digits we've seen since December. Benchmark values are up +2.4% month over month, but it is still relatively flat if compared with last April (+1.0%).

 

See Cloverdale & Clayton Listings Here!

----> Know someone who you think might need to know about the Cloverdale market? Please share this update and page with them. You could be doing them a favour :D

 

Missed my Abbotsford, South Surrey/White Rock, or Langley updates?

Please Like my Facebook page for follow custom market updates! http://facebook.com/richertrealestate

Brad Richert
604.510.4825
bradrichert@macrealty.com

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Single family homes in Langley continue to be the hottest commodity in the hottest commodity in the Fraser Valley with three neighbourhoods in particular leading the pack. North Delta isn't too far behind, also with hot sellers markets throughout. Townhouses and apartment condos are also selling well in Langley, with Aldergrove surprisingly leading the municipality. There was an unsually high number of sales in Poplar for attached homes last month, but there is a large clump in the same area. I haven't done any investigating, but I wouldn't be surprised if it was a sole purchaser or redevelopment transaction (feel free to fill me in if you come across that info!).


Single Family Homes

  1. Walnut Grove (Langley) - 48.39%
  2. Aldergrove (Langley) - 43.59%
  3. Fort Langley (Langley) 38.46%
  4. Sunshine Hills Woods (N. Delta) - 35.48%
  5. Clayton (Surrey) - 34.69%
  6. Annieville (N. Delta) - 34.62%
  7. Scottsdale (N. Delta) - 34.62%
  8. Brookswood (Langley) - 33.33%
  9. Cloverdale (Surrey) - 29.63%
  10. Pacific Douglas (South Surrey) - 29.27%

 

Attached Homes

  1. Poplar (Abbotsford) - 76.47%
  2. Aldergrove (Langley) - 40.00%
  3. Murrayville (Langley) - 30.56%
  4. Walnut Grove (Langley) - 30.39%
  5. Annieville (N. Delta) - 25.00%
  6. Nordel (N. Delta) - 24.00%
  7. Panorama Ridge (Surrey) - 23.53%
  8. Sullivan Station (Surrey) - 22.92%
  9. Fleetwood Tynehead (Surrey) - 22.69%
  10. Clayton (Surrey) - 22.03%


*By Sales-to-listing ratio in neighbourhoods with 5 sales or more in one month

**All information taken from the Fraser Valley Real Estate Board MLS® . The accuracy and completeness of the information is not guaranteed.

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LANGLEY MARKET UPDATE

 

Detached Homes
The Langley market contines to be a hot seller's market which has finally led to change the values on my chart, since the sales to listing ratio remains over 30%. This has been very difficult for potential buyers, but there has been a slight relaxation in price for the first time since December. Although the average sale price is up +2.7%, benchmark values show a small decrease of -0.3% to $575,200. This is still +4.1% from this time last year. My hunch is that with -16.8% less listings and monthly hot markets, what is left on the market are overpriced homes that need to reduce to compete with people waiting for fresh inventory.

 

Townhouses
Townhomes are soaring - a 27.8% sales to listing ratio is eating up the supply of what is out there. Prices jumped back 3.3% after falling in March. But like I said last month: "I expect that the lower values won't survive long heading into middle Spring. " I love being right :D

 

Apartments
Some great news for the suffering condo market is that 17.3% of condos sold in April, which is more than I can remember in a long time. Sales are up almost +30% from this same time last year and benchmark values increased to $210,200 (+0.8% from March 2014, +1.5% from April 2013). These aren't big increases, but at least they aren't going the other way.

 

----> Do you know someone who you think might need to know about the Langley market? Please share this update and page with them. You could be doing them a favour :D

 

Missed my Abbotsford or South Surrey/White Rock updates? Waiting for my Cloverdale report?

Please Like my Facebook page for follow custom market updates!

http://facebook.com/richertrealestate

 

Brad Richert
604.510.4825
bradrichert@macrealty.com

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WHITE ROCK/SOUTH SURREY MARKET UPDATE

 

Detached Homes
The trend for buyers is disturbing in the White Rock area. 6 Months ago the benchmark White Rock and area home was selling for $845,000. It has now crossed the $900,000 threshold. Values gain another 1.2% month over month, which is sellers are raking in +5.7% over this time last year. Still, a 19.5% sales to listing ratio is a balanced market which means that these homes aren't flying off the shelves.

 

Townhouses
Resale townhomes in the White Rock area inched down to a 14.6% sales to listing ratio due to what I believe is heavy competition from the new development sector. Benchmark prices remain flat (-0.2% from March, +0.6% from April 2013).

 

Apartments
It appears that more apartment condos are selling, but they are selling for less. Sales are up 10.2% from March, and a huge 75.7% from last years poor April, but benchmark prices took a -2.0% hit from the previous month. The benchmark price is $235,700, which is essentially the same as this time last year (+0.2%). Keep your eye on the new development market though, as it seems that it where most of the money appears to be flowing.

 

----> Know someone who you think might need to know about the White Rock/South Surrey market? Please share this update and page with them. You could be doing them a favour :D

 

Missed my Abbotsford update? Waiting for a Langley and/or Cloverdale report?

Please Like my Facebook page for follow custom market updates!

http://facebook.com/richertrealestate

 

Brad Richert
604.510.4825
bradrichert@macrealty.com

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ABBOTSFORD MARKET UPDATE

 

Detached Homes
For the 3rd month in a row, Abbotsford single family homes saw a sales to listing ratio over 23%, which is favouring sellers with rising home prices. While April saw only a slight benchmark increase (+0.6%), it is a full 3.1% increase over this time last year. Benchmark prices for detached homes now sit at $439,900 after 4 months of increasing values.

 

Townhouses
Abbotsford townhomes continue to remain in a fairly flat market, with benchmark values up only 0.2% from March, which means were still over -10% below last year's values. However, the 20.3% sales to listing ratio is a positive note, but don't expect any sharp increases to prices.

 

Apartments
After a few good months that saw positive increases, prices faltered -1.6% from March, which exasperates the extremely poor year-over-year decrease of -22.9%. Sales to listing ratio is a 12.7% which strong favours the buyer.

 

----> Know someone who you think might need to know about the Abbotsford market? Please share this update and page with them. You could be doing them a favour :D

 

Stay tuned for Cloverdale, Langley, and South Surrey/White Rock market updates throughout the week.

Brad Richert
604.510.4825 or Toll Free 1.877.853.6786
bradrichert@macrealty.com

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I have listed a new property at 19691 68TH AVE in Langley.
Court ordered sale. Savvy investors and do-it-yourselfers - don't pass this up! TLC needed to restore this executive home with solid bones and central location. Close to Willowbrook shopping and Langley amenities. Call today to view!
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I have listed a new property at 100 15268 18TH AVE in Surrey.
Park Place by Goertzen Homes offers a boutique living experience with a impeccable design & high quality finishings. This kitchen is a show-stopper with maple cabinets, rich granite countertops & stainless steel appliances. The 9' ceilingsemphasize the open floor plan w/ best-in-show engineered "carved" hardwood flooring. This ground unit has an enlarged patio with high shrubbery for maximum privacy. Don't miss the rooftop deck overlooking South Surrey & White Rock! Call today for a private viewing!
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I have sold a property at 21341 87B AVE in Langley.
STUNNING "feels like home already" in Walnut Grove's desirable Forest Hills neighbourhood. Large, beautifully landscaped lot great for families and entertaining. Charming curb appeal is just the beginning. Great layout for optimal living space with large windows and plenty of natural light. Classic kitchen offers updated backsplash & new s/s appliances. Spacious master brdm w ensuite. Don't miss out on this one, call today for a private viewing. Pre-approved for Home Renovation Plan for your home customization needs!
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