ACTIVE
SOLD

Could This Be For Someone You Know? Call 604-274-2222 Now.  

I have listed a new property at 219 7435 MOFFATT RD in Richmond.

Colony Bay. Owner occupied, quick possession possible. A comfortable one bedroom with gas fireplace. Kitchen features a passthrough window to dining area. Secured parking. Convenient location. See and feel for yourself. Room sizes are approximate
Read full post

Could This Be For Someone You Know? Call 604-274-2222 Now.  

I have listed a new property at 303 9299 121 ST in Surrey.

Live in comfort in this spacious 2 bedroom, 2 full bathroom 1,250 sqft condo located in Queen Mary Park. This highly desirable location is just minutes from transit, groceries, schools, gyms and an easy commute to both Alex Fraser and Pattullo Bridge. An open concept layout makes it perfect for entertaining company while cooking in your large kitchen. Embrace the cold weather curled up next to your fireplace or enjoy the crisp air outside with a walk through the friendly neighbourhood. Tons of storage space, 2 parking spaces, and in-suite laundry. Bring your best offer, this unit won't last long!
Read full post

"What do you think is going to happen with real estate Bill?"

 

A question I am faced with daily.

 

This I know.  Real estate in the Vancouver (and surrounding area) have been deeply affected by foreign buyers, (mainly from China) with an abundance of wealth looking to enjoy a clean, safe haven to live in or at least visit regularly. Add to these homebuyers, those that seek to take advantage of the demand to buy a finite number of detached homes to hold and ride the rising prices and sell off for huge profits. 

 

I could see the increase in demand and resulting price increases when I saw the value of the Canadian dollar fall against the US dollar.  With the currency in China tied closely to the American currency, the Canadian devaluation meant Canadian real estate fell in value next to the Yuan Renminbi.  In other words, real estate in Canada went on sale.  A buyer from China found they got a pile of more Canadian dollars in exchange for their Chinese Yuan Renminbi.  The buyer from China could offer 10% to 15% more to buy real estate in Vancouver and not cost them a cent more in their currency. 

 

Below shows how many Canadian dollars obtained per 1 Yuan Renminbi. The buying power of home buyers from China increased dramatically and peaked in January of 2016. 

 

 

Below shows how many Canadian dollars it took to buy one US dollar. The peak was January of 2016.  Investors in the US found Canada attractive to buy.  Remember those Canadians that took advantage of buying cheap US real estate? Some Canadians now saw an opportunity to realize currency exchange profits and sold their US property investments for Canada. 

 

 

The steady devaluation of the Canadian dollar against the US dollar and the China Yuan, peaking in January of 2016 was matched by the steady and dramatic increase in real estate prices in Greater Vancouver and in particular, detached homes. 

 

 

Note that  with the increase of the value in the Canada Dollar versus US and China currencies, the number of sales of detached homes in Greater Vancouver showed a steady slide down with the price increases now longer rising as before.  

 

Foreign buyers are no longer able to take advantage of the currency "sale" and with the newly added 15% foreign buyers tax added late in the game (August 2016) by the BC Government plus the new mortgage qualification rules introduced by the Federal Government (October 2016) it makes one wonder how much the real estate market can take before home buyers look elsewhere to invest. 

 

Yes, there will be people coming to buy in one of the most beautiful places to live in the world but the wave looks like it has past.  Where will prices go from here?  With the prices for houses in Greater Vancouver too high for most Canadians, I would look at where the Canadian dollar goes.  Should the Canadian dollar rise more than it is now next to foreign currencies, I suspect the foreign buyer will offer what they get in return for their currency - less Canadian dollars. 

 

Bill de Mooy

Read full post

The real estate market has its cycles - its ups and downs.  These cycles can be long or they can be short-lived. The question is 'where are you in the cycle with your house plans?'

 

With 'experts' saying there will be a market correction, it's time to ask yourself how risk adverse are you. 

 

Using Richmond, BC as an example housing market, the facts show the sales slow down has been trending the middle of 2016. With prices of houses climbing to unaffordable levels for most Canadians, home buyers turned their direction towards town houses and condominiums. With cries of "foul" from the voters, the provincial government placed a new income generating tax on 'evil' foreign home buyers of 15% on residential properties in Metro Vancouver.  Add this with the market already showing signs of a slow down in the sales of detached properties and you have an anchor thrown out of a moving boat. (People in the know are telling me that foreign buyers are swallowing up commercial properties with these prices climbing to dizzying levels).

 

The federal government tosses in new mortgage rules for high ratio financing and we have a second anchor tossed out of the moving boat. 

 

The first time home buyers are squeezed between low vacancy rates, high rents, and climbing housing prices.  To find something they can afford to buy, they must move further out from where they work only to find an inadequate public transit service and travel by car is both expensive on gas, tolls, insurance, and travelling time is longer with traffic jams.

 

What's a first-time home buyer to do? With the new rules resulting in qualifying for a lower mortgage, do first-time home buyers move out yet further to find a less expensive home to buy?  Or will home sellers of such properties be forced to lower their prices?

 

Paul Ashworth predicts the Bank of Canada rate will fall because of the slowing economy as "the boom inevitably goes into reverse."


Which brings me to the subject of this article. Whether the 'experts' are correct in their predictions as to when, how deep and how long the housing adjustment will be, the question for you is, can you or are you willing to wait it out?


They are not making any more land and the population of Canada continues to grow, with much of the growth coming from immigration, I'm led to understand. I hear from a BBC interview that the trend towards of living in urban centres continues to grow. I cannot avoid concluding that any 'housing adjustment' will not be long. 


Long is a relative term.  If you are thinking of selling in the near future and risk is something the keeps you up at night, pehaps it is time for you to sell now to "bank" some or all of your equity. 


For those who have no plans to move for a while, relax. In my 32 years as a Realtor, I've seen the housing market adjust up more than adjust down. Mind you, "down" is a great time to "move up". 


Which ever stress level you are in, call me and we can discuss what's the best course of action for you. 

 

Bill de Mooy

604-274-2222

Read full post

I'm pleased to have helped another homeowner sell their home.  

Now, I have excess buyers.

My marketing plan and hard work has attracted many buyers to this home but many preferred a different location, a different design, or different price range.  

To sell.  Call Bill today 604-274-2222. 

8620 ROSEHILL DR in Richmond.

Nicely updated 5 bedroom home in Richmond’s popular ‘Montrose Estates’. This home has been beautifully maintained and updated with a newer kitchen leading to huge covered deck overlooking private southwest backyard, newer bathrooms and elegant living and dining rooms with original hardwood flooring under carpet. Crown moulding and new lighting. Downstairs features deluxe media room with sound proofed walls and 1 bedroom mortgage helper. Home has been equipped with a high efficiency furnace (2009), new windows throughout (2010) and newer roof. Prime neighbourhood within a short walk to South Arm Park and community centre, all levels of school (including french immersion), shopping and transportation.

Read full post

I'm pleased to have helped another homeowner sell their home.  

Now, I have excess buyers.

My marketing plan and hard work has attracted many buyers to this home but many preferred a different location, a different design, or different price range.  

To sell.  Call Bill today 604-274-2222. 

9640 BAKERVIEW DR in Richmond.

PERFECT BUILDING LOT! Wonderful 8277 square foot - rectangular lot with large sunny southern backyard (69' x 120') on an extremely quiet street. Very clean and livable 3 bedroom split with newer furnace and roof (both 2009) and a detached double car garage. Many brand new Million Dollar homes in this quiet family oriented neighbourhood. A short walk to South Arm Park/ Community Centre, Walter Lee Elementary and McNair Secondary Schools and just a 10 minute drive to the Canada Line. Live in or hold and rebuild. Call for a private viewing.

Read full post

Could This Be For Someone You Know? Call 604-274-2222 Now.  

I have listed a new property at 3411 WARDMORE PL in Richmond.

Bright 4 bedroom home on a spacious 7526 square foot lot in the popular 'Mores' of Seafair. Open kitchen with huge eating area and patio access to beautiful private backyard. Entertaining sized living room and large family room. 2 full bathrooms and double windows throughout. 10 year old furnace and 3 year old roof. New European white oak hardwood flooring and freshly painted. Close to shopping, recreation, schools, transportation and strolling the dyke. Many multi-million dollar homes in the neighborhood.
Read full post

Could This Be For Someone You Know? Call 604-274-2222 Now.  

I have listed a new property at Lot 128 TRAIL AVE in Sechelt.

Services at lot line, water, electricity, gas, sewer. Public transit nearby. Overgrowth will be removed. Please contact city hall for further details about what you want built. Local builders available on request.
Read full post
Categories:   Abbotsford West, Abbotsford Real Estate | Albion, Maple Ridge Real Estate | Aldergrove Langley, Langley Real Estate | Anvil | assignment | Authorization | BCREA | BCREA Housing Market Update | bill | Bill de Mooy's Listings | Bolivar Heights, North Surrey Real Estate | Boyd Park, Richmond Real Estate | Brentwood Park, Burnaby North Real Estate | Brighouse South, Richmond Real Estate | Brighouse, Richmond Real Estate | Broadmoor, Richmond Real Estate | Brookswood Langley, Langley Real Estate | Bruce McCallum | Building Plans | Burnaby Hospital, Burnaby South Real Estate | Cariboo, Burnaby North Real Estate | Central Pt Coquitlam, Port Coquitlam Real Estate | China | Clayton, Cloverdale Real Estate | Cliff Drive, Tsawwassen Real Estate | Cloverdale BC, Cloverdale Real Estate | cohousing | Community | condominium | CRA | de mooy | Deer Lake, Burnaby South Real Estate | deferment | demooy | Downtown NW, New Westminster Real Estate | Downtown VW, Vancouver West Real Estate | Eagle Ridge CQ, Coquitlam Real Estate | East Cambie, Richmond Real Estate | East Newton, Surrey Real Estate | East Richmond, Richmond Real Estate | Fairview VW, Vancouver West Real Estate | False Creek, Vancouver West Real Estate | Fleetwood Tynehead, Surrey Real Estate | foreign buyer | Forms | Fraser Heights, North Surrey Real Estate | Fraserview NW, New Westminster Real Estate | Galiano Island, Islands-Van. & Gulf Real Estate | GlenBrooke North, New Westminster Real Estate | Glenwood PQ, Port Coquitlam Real Estate | government | Grandview Surrey, South Surrey White Rock Real Estate | Grandview VE, Vancouver East Real Estate | Granville, Richmond Real Estate | Guildford, North Surrey Real Estate | Hamilton RI, Richmond Real Estate | Hamilton, North Vancouver Real Estate | Hastings, Vancouver East Real Estate | Hawthorne, Ladner Real Estate | Highgate, Burnaby South Real Estate | Hockey | HomeConnection - West Coast Trail 2013 | homes for rent | homes for sale | Housing Market Update | Ironwood, Richmond Real Estate | King George Corridor, South Surrey White Rock Real Estate | Knight, Vancouver East Real Estate | ladner | Ladner Elementary, Ladner Real Estate | Laneway Housing | Langley City, Langley Real Estate | Lower Mary Hill, Port Coquitlam Real Estate | Macdonald Realty | McLennan North, Richmond Real Estate | McMath | McNair, Richmond Real Estate | Metrotown, Burnaby South Real Estate | Mount Pleasant VE, Vancouver East Real Estate | N. Delta Real Estate | NDP | New Horizons, Coquitlam Real Estate | Opinion | Park | Parkcrest, Burnaby North Real Estate | Pemberton NV, North Vancouver Real Estate | Playground | pre-sale | presale | property tax | Quay, New Westminster Real Estate | Queen Mary Park Surrey, Surrey Real Estate | Quilchena | Quilchena RI, Richmond Real Estate | real estate | Real Estate Trends | rentals | Richmond | Risk | Riverdale RI, Richmond Real Estate | Sapperton, New Westminster Real Estate | Saunders, Richmond Real Estate | Scottsdale, N. Delta Real Estate | Seafair, Richmond Real Estate | Sechelt District, Sunshine Coast Real Estate | Simon Fraser Hills, Burnaby North Real Estate | Sorrento | South Arm, Richmond Real Estate | South Slope, Burnaby South Real Estate | South Surrey White Rock Real Estate | speculators | Statistics | Steveston | Steveston North, Richmond Real Estate | Steveston South, Richmond Real Estate | Steveston Village, Richmond Real Estate | Steveston Villlage, Richmond Real Estate | Sullivan Heights, Burnaby North Real Estate | Sullivan Station, Surrey Real Estate | Sunnyside Park Surrey, South Surrey White Rock Real Estate | tax | tax deferment | taxes | Terra Nova, Richmond Real Estate | testimonials | The Heights NW, New Westminster Real Estate | Tips and Advice | Transfer tax | Tsawwassen | Uptown NW, New Westminster Real Estate | Vancouver | Victoria | video | Walnut Grove, Langley Real Estate | West Cambie, Richmond Real Estate | West End VW, Vancouver West Real Estate | West Newton, Surrey Real Estate | Westwind, Richmond Real Estate | Whalley, North Surrey Real Estate | What I saw | White Rock, South Surrey White Rock Real Estate | Willoughby Heights, Langley Real Estate | Woodwards, Richmond Real Estate
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.