SOLD this 2-bedroom condo 20% above the listed price. After 75 parties visited our listing, we received multiple offers!

Please contact us to see how we can achieve your real estate goals - saving you time and money in the process! ☎️

SOLD below asking! Congratulations TW! We understand that it was not an easy process in a hot real estate market and we thank you for patience and trust in us to find your first home.

WHERE: Esprit at Highgate in Burnaby South
WHAT: 1 bed + den; 774 SQ. FT.

Please contact us to see how we can achieve your real estate goals - saving you time and money in the process! ☎️

Fantastic Opportunity for First-Time Home Buyers!  Come visit my open house this weekend if you are in the area!

WHAT: 2 Bed + 2 Bath, 1,180 SQ FT; Balcony 56 SQ FT
WHERE: #207 - 10720 138th Street, Surrey
WHEN: Sat. and Sun., April 22nd and 23rd from 2 to 4PM
LIST PRICE: $289,000
MLS #: R2156893

Welcome to Vista Ridge! This spacious 2-bedroom unit is the largest floorplan in the complex. It is a quiet and private S.E. corner end unit that overlooks the courtyard. This home has been extensively renovated, including: new flooring, granite countertops in the kitchen with stainless steel appliances, new light fixtures, new bathrooms, etc. A cozy gas fireplace in the living room (gas is included in your monthly strata fee). Master bedroom has a large walk-in closet! One parking stall and storage locker included. Steps away from Forsyth Road Elementary. Near Surrey Central Station, Surrey Central Mall, T&T, SFU, and much more. Problem-free building, move-in ready.

If you want a private showing, please call me at 604.836.0506 ☎️ or email me at info@sterlingwong.ca.

JUST SOLD! Congratulations LJ and CP on winning a multiple offer situation for a beautiful house on a 15,420 sq. ft. lot! Thank you for trusting me in our bidding strategy!

Please contact us to see how we can achieve your real estate goals - saving you time and money in the process! You can call or text 604-836-0506 ☎️ or email info@sterlingwong.ca.

A shortage of residential property listings coupled with strong demand, particularly for condos and townhomes, continued to impact Metro Vancouver’s housing market in March.  Last month’s sales were 7.9% above the 10-year sales average for the month.

Sellers still seem reluctant to put their homes on the market, making for stiff competition among home buyers.  Home prices will likely continue to increase until we see more housing supply coming on to the market

For more in-depth information on March's market, please click below:

For more in-depth information on April's market, please click below:

Greater Vancouver:  REBGV March 2017 Stats Package

Fraser Valley:  FVREB February 2017 Stats Package

SOLD this 1-bedroom condo last week above $208,000 listed price. Congratulations EH and we're excited for you as you embark on a new journey in the States with your husband!

Please contact us to see how we can achieve your real estate goals - saving you time and money in the process! ☎️

This Yaletown 2 bed and 2 bath loft-style penthouse is a beauty! Open and efficient floorplan with high quality fixtures and finishings, and spa-inspired bathrooms. PRIVATE ELEVATOR to your 775 SF rooftop patio deck with hot tub, built-in wet bar, fireplace, and garden area. 3 parking spots and a large private storage.

If you want a private showing, please call me at 604.836.0506 ☎️ or email me at info@sterlingwong.ca.

Check out this unique 2,650 sq. ft. house with modern features, vaulted ceilings, and other captivating architectural details. Designed by award winning architects and it was featured in a magazine spread. Centrally located with steps away from transit. Private roof deck offers great river and mountain views.

If you want a private showing, please call me at 604.836.0506 ☎️ or email me at info@sterlingwong.ca.

Come visit my open house this Sunday from 2 to 4pm if you are in the area!

1-bedroom condo with 765 sq. ft. of living space and a 90 sq. ft. covered patio for $208,000

WHERE:  #110 - 10082 132nd Street, Surrey, BC, Canada

MLS #:  R2142890

Private and quiet. This spacious home is complete with 9 ft ceilings, in-suite laundry with storage, a large covered patio, 2 parking spots (extremely rare), and a separate storage locker. East facing on the quiet side of the building away from 132nd St. Walking distance to Surrey Central Skytrain Station, SFU, Holland Park, Surrey Libraries, T&T, Safeway, Surrey Central Mall, and much more. Great complex with a newer roof and this building is rainscreened! Pets allowed and rentals allowed with restrictions. Buy with confidence. Move-in ready!

February home sales were well below the record-breaking activity from one year ago and in line with our long-term historical average for the month.  Limited supply and snowy weather were two factors hampering this activity.  While home sales are not happening at the pace we experienced last year, home seller supply is still struggling to keep up with today's demand.  This is why we've seen little downward pressure on home prices, particularly in the condo and townhouse markets.

For more in-depth information on March's market, please click below:

Greater Vancouver:  REBGV February 2017 Stats Package

Fraser Valley:  FVREB February 2017 Stats Package

JUST SOLD! It was an honour to help my clients downsize from a mansion to a fantastic 3-bedroom and den unit at Park Station - steps away from Oakridge Centre and 2 Canada Line Stations!

Thank you Elise, Anky, and @magnumprojects for assisting my clients last week! Looking forward to more future collaborations!

SOLD! We helped our client win this beautiful starter townhouse in a multiple offer situation with full subjects. Congratulations JC and we hope that your growing family will enjoy this spacious new home!

Please contact us to see how we can achieve your real estate goals - saving you time and money in the process!  ☎️

From a real estate perspective, it's a lukewarm start to the year compared to 2016.  While we saw a near record-breaking sales at this time last year, home buyers and seller are more reluctant to engage so far in 2017.  Conditions within the market vary depending on property type.  The townhouse and condo markets are more active than the detached market at the moment.  As a result, detached home prices declined about 7% since peaking in July while townhouse and condo prices held steady over this period.

For more in-depth information on Feburary's market, please click below:

Greater Vancouver:  REBGV January 2017 Stats Package

Fraser Valley:  FVREB January 2017 Stats Package

We wish you and your loved ones prosperity, good health, good fortune, and good luck! Happy Chinese New Year!

恭喜發財！祝您和親人年行大運、身體健康、心想事成、龍馬精神、財源滾滾來！恭喜！恭喜！

Sky Lantern event before Chinese New Year hosted by @petermaivancity and filmed by the talented @lovefrankly  Wedding Photography and Cinematography. Thank you Peter and Matt for creating and documenting this special event!

Belpark by Intracorp will be located at Alberta St and W.59th Ave in Vancouver. It will be steps away from the proposed 57th Ave Canada Line Station. Beautiful West Coast style with walnut accents!

Please inquire if you are interested!

Website

MOVE IN TODAY! A quiet 2 bedroom and den (1,095 sq ft) in desirable central Richmond (Gilbert Rd and Granville St).

Brighouse and Richmond High are catchment schools. Walking distance to Minoru ice rink and swimming pool, library, and track. Playground and park within 2 blocks. Richmond Centre and Canada Line Station is a 10-minute walk away. Stainless steel kitchen appliances with beautiful flooring. 2-car tandem attached garage, and balcony out in front overlooking common grass area. Clubhouse available for tenants to use. Utilities not included. Excellent maintenance and upkeep of property. Minimum 1-year rental. /react-text

Professionally cleaned and available for $2,000 a month.

“The various government interventions have shown little effect on the pre-sale market to date, and with over 10,000 concrete units currently being planned for 2017, Greater Vancouver will continue to have steady absorption figures,” MLA Canada said in a press release.

The number of units released is expected to jump almost 20% to 10,708 in 2017. More than a quarter of these—2,886—will be in Burnaby Brentwood. The next highest activity will be in Burnaby Metrotown, with 1,795 units forecast, followed by Richmond (1,347) and Coquitlam (1,202). Forecasts for Vancouver include 247 units in East Vancouver and 1,094 downtown.

Read more...

Driven by redevelopment and densification potential, the upward movement of prices was particularly in evidence in Marpole. With its proximity to the Canada rapid transit line, Marpole is among the key areas next in line for redevelopment in Vancouver.  While suite prices in East Van were relatively flat, values in Marpole leapt over them, jumping 43% to $351,000.

Read more

Park Station will be located at Cambie Street and West 48th Avenue, which will be steps away from Oakridge Centre and Langara 49th Canada Line Station. There are 1, 2, and 3-bedroom condo units left.

Please contact me for more information if you are interested!

Website

Congratulations to the AG family for buying this beautiful property! My clients may not have had the highest offer, but we presented an offer tailored to the sellers and we won! Dealing with multiple offer situations is my specialty. Please contact us to see how I can make it happen for you - saving you time and money in the process!

It has been an eventful 2016 year for real estate in Metro Vancouver.  Escalating prices caused by low supply and strong home buyer demand brought more attention to the market than ever before.  As prices rose in the first half of the year, public debate waged and this led to multiple government interventions.  The long-term effects of these actions will not be fully understood for some time.

For more in-depth information on January's market, please click below:

Greater Vancouver:  REBGV December 2016 Stats Package

Fraser Valley:  FVREB December 2016 Stats Package

My team and I like to thank you for your continued support!

We wish you and your loved ones great joy, peace, and hope!  Merry Christmas and Happy New Year!

Premier Christy Clark unveiled a new loan program yesterday to help first-time home buyers come up with their down payment.

The BC Home Owner Mortgage and Equity (HOME) Partnership program will offer qualifying home buyers loans of up to $37,500 with a 25-year term mortgage.   No payments are required to be made and interest will not accrue until the sixth year of the term.

The province will begin accepting applications on January 16, 2017.

To qualify, buyers must:

• Be a first-time buyer who has not owned an interest in a residence anywhere in the world at any time

• Use the property as their principal residence for the first five years

• Obtain a high-ratio, insured first mortgage for at least 80% of the purchase price

• Have a combined gross household income of all individuals on title not exceeding $150,000

•Have saved a down payment amount at least equal to the loan amount

• Be a Canadian citizen or permanent resident for at least five years

• Have resided in BC for at least one year preceding the date of the application.

The loans will be due in full if the buyer defaults on a payment, ceases to use the home as a principle residence, resells, or transfers the home.

Key facts:

• The loans will match a home buyer’s contribution to a down payment up to 5% of the home’s purchase price 

• The maximum purchase price to qualify for a loan is $750,000 (excluding taxes and fees)

• After five years, buyer(s) can either repay their loan or enter into monthly payments at current interest rates

• Loans through the program are due over the remaining 20 years

• You can make extra payments or repay it in full anytime without a penalty

Applications for the BC Home Partnership open January 16, 2017.

The province estimates this initiative will help at least 42,000 buyers or households province-wide over the next three years. About half of these buyers will be in the Lower Mainland, according to Pastrick.

Click here for more information.

Real Estate Board of Greater Vancouver (REBGV) reports that last month's residential property sales decreased 0.9% compared to October 2016 sales and 7.6% below the 10-year sales average for the month.  

According to REBGV President, demand relative to supply for detached homes is lower right now than demand for townhomes and apartments.  This is causing prices to remain stable for townhomes and apartments, while detached homes are seeing modest month-over-month declines.

For more in-depth information on December's market, please click below:

Greater Vancouver:  REBGV November 2016 Stats Package

Fraser Valley:  FVREB November 2016 Stats Package

6 TRANSACTIONS IN THE PAST 30 DAYS! We are very thankful and blessed to have incredible clients!

Whether the real estate market is hot or cold, we produce amazing results through hard work, experience, and fantastic customer service. Please contact us to see how we can make it happen for you - saving you time and money in the process!

Sold in just a few days for a fantastic price! We help stage, market, and prepare your home to sell fast regardless of market conditions. Please contact me and my team for more information.

Residential property sales in the region totalled 2,233 in October 2016, a 38.8 per cent decrease from the 3,646 sales recorded in October 2015 and a 0.9 per cent decrease compared to September 2016 when 2,253 homes sold. Last month’s sales were 15 per cent below the 10-year October sales average.

"Changing market conditions compounded by a series of government interventions this year have put home buyers and sellers in a holding pattern. Potential buyers and sellers are taking a wait-and-see approach to try and better understand what these changes mean for them. While sales are down across the different property types, it’s the detached market that’s seen the largest reduction in home buyer demand in recent months. It’s important to work with your local REALTOR® to help you navigate today’s changing trends.” - Dan Morrison, President of Real Estate Board of Greater Vancouver (REBGV).

For more in-depth information on October's market, please click below:

Greater Vancouver:  REBGV October 2016 Stats Package

Fraser Valley:  FVREB October 2016 Stats Package

As the dust settles from last nights US election, here are a few interesting facts that may affect our Canadian Real Estate market as of this morning:

   1)  Traffic on our realtor.ca website is up 43% from Americans

   2)  We are fielding calls all over Canada from Americans looking to buy real estate here as of this morning

Just don't forget about the foreign tax in the GVRD of 15% to foreign entities!

Here are a few interesting links for your reading pleasure:

• Financial Post
• Money Sense
• Ministry of Finance of British Columbia

Sales are stalled and prices are wobbling in the resale sector of Vancouver’s real estate market, but sales in the presale market for apartments and townhouses are still booming.

Please contact me if you are interested in presales as I have VIP access!

Read more

JUST LISTED:  1-bedroom condo with 462 sq. ft. of living space and a 47 sq. ft. balcony for $428,000

WHERE:  #810 - 189 Keefer Street, Vancouver, BC, Canada

MLS #:  R2121683

Welcome to Keefer Block built by Solterra Group. Solid concrete construction, high quality finishings throughout including high gloss lacquered Italian style cabinetry, rich, dark engineered hardwood, Kohler fixtures and a sharp stainless steel package. Fantastic layout wastes no space yet feels very spacious inside. PLENTY of ensuite storage in addition to a storage locker! This home has unobstructed city and mountain views. 

Amenities include: a fantastic roof top patio and garden, perfect for entertaining large parties with an outdoor BBQ and fireside lounge. No rental restriction and this building rents very well. 2 pets allowed, low maintenance fees, 1 min walk to shops, dim sum (oh yeah) and transportation at your door step. Don't miss this opportunity!

AVALON PARK at River District by Wesgroup Properties. AVALON 1 is the first residential phase with 129 homes, including: 1, 2, and 3-bedroom homes and spacious townhomes.

Please contact me for more information, pricing, and VIP access.

Website

This house in Coquitlam was previously listed for $1,098,000 and I helped my client purchase it for almost $300,000 below the original asking price!

Congratulations L! I look forward to see you starting a new family at this beautiful house!

Belpark by Intracorp Canada. Newest addition to Intracorp's Westside Collection and the Cambie Corridor. Thanks for hosting Rennie!

Please message me for more info and VIP access.

Website

The sales-to-active listings ratio for September 2016 is 24.1%. This is the lowest this ratio has been since February 2015. Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12% mark for a sustained period, while home prices often experience upward pressure when it surpasses 20% over several months.

"Supply and demand conditions differ today depending on property type.  We’re seeing more demand for condominiums and townhomes today than in the detached home market.  Changing market conditions are easing upward pressure on home prices in our region.  There’s uncertainty in the market at the moment and home buyers and sellers are having difficulty establishing price as a result. To help you understand the factors affecting prices, it’s important to talk with a REALTOR®.” - Dan Morrison, President of Real Estate Board of Greater Vancouver (REBGV)

For more in-depth information on September's market, please click below:

Greater Vancouver:  REBGV September 2016 Stats Package

Fraser Valley:  FVREB September 2016 Stats Package

Chinese love Vancouver architecture and they brought it to Beijing. Yet, they tear down our "older" or character houses in Vancouver.  #irony

Vancouver Forest, with a name that invokes a desirable lifestyle to potential home buyers, is a sprawling, 55 hectare development featuring 900 luxury homes located 30 minutes from Beijing’s airport.

Read more

SOLD this immaculate townhouse above the listed price and my clients were able to upgrade to a house! Congratulations A+AG and I am thrilled that you will be moving to your dream home!

Oakwynites at 5th Annual Magnum Gala. Thank you Magnum Projects for inviting us and we look forward to working with you on more presale projects!

WHERE:  #12 - 6450 187 Street, Surrey, BC, Canada
WHEN:  Sat. & Sun., Sept.10th and 11th from 2:00-4:00PM
WHAT: 2 Bed; 2 Bath; 1,201 SQ.FT.
LIST PRICE: $399,800

MLS #: R2106377 

Welcome to Hillcrest built by Mosaic Homes. Tucked away on a quiet street, this spacious, like new, immaculate 3-level townhouse boasts 2 bedrooms, 2 full bathrooms, and a den that could be converted into a 3rd bedroom. The den on the entry level looks out to your private front yard and adjoins a full bathroom.

Wake up to mountain views from the master bedroom and no direct neighbours in front of you, only green space. The main floor has an open concept design, stainless steel appliances, large kitchen and & living room, complete with a fantastic deck, perfect for hosting.

2 parking spots including a garage and plenty of free street parking in front for all your family and friends. Homes in this desirable complex don't last long on the market!

Offers submitted by Tues, Sept.13th before 5:00PM.

Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver totalled 2,489 in August 2016 - a decline of 26% compared to the 3,362 sales in August 2015.

“The record-breaking sales we saw earlier this year were replaced by more historically normal activity throughout July and August,” Dan Morrison, REBGV president said. "Sales have been trending downward in Metro Vancouver for a few months. The new foreign buyer tax appears to have added to this trend by reducing foreign buyer activity and causing some uncertainty amongst local home buyers and sellers. “It’ll take some months before we can really understand the impact of the new tax. We'll be interested to see the government's next round of foreign buyer data."

For more in-depth information on August's market, please click below.

Greater Vancouver:  REBGV August 2016 Stats Package

Fraser Valley:  FVREB August Stats Package

High housing costs in Toronto and Vancouver are being blamed on Chinese purchasers grabbing too much of an already-limited supply.  These factors do contribute to high housing costs, but most of the blame lies elsewhere. City homes aren’t expensive because we’ve run out of land to develop within cities, as is often claimed. City homes are expensive because politicians prevent available land from being intelligently developed or redeveloped.

Without constructing any more high-rises or giving up their greenbelts, Toronto and Vancouver could easily double their population within their existing city limits. Their residents wouldn’t even need to emulate European architecture. 

READ MORE

Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver totalled 3,226 in July 2016 - a decline of 18.9% compared to the 3,978 sales in July 2015.

“After several months of record-breaking sales activity, home buyer demand returned to more historically normal levels in July,” Dan Morrison, REBGV president said. Last month’s sales were 6.5 per cent above the 10-year sales average for the month. “Home sale activity showed some moderating signs in late June and this carried into July,” Morrison said. “We’ll wait and watch over the next few months to see if this marks the return of more normal market trends.”

For more in-depth information on July's market, please click below.

Greater Vancouver:  REBGV July 2016 Stats Package

Fraser Valley:  FVREB July Stats Package

With the new 15 per cent additional Property Transfer Tax for overseas buyers of Metro Vancouver homes taking effect today (August 2), local agents are starting to report collapsing deals, according to the Fraser Valley Real Estate Board (FVREB). 

The new tax, passed July 28 under Bill 28, which applies to current and future home purchases closing from today onwards, has caused much concern in the real estate industry over its retroactive nature and lack of exemptions. 

The FVREB announced Tuesday morning that it is receiving numerous complaints from local REALTORS® whose overseas buyers are backing out of signed deals, choosing to walk away from their deposits over having to pay an unexpected tax bill of potentially hundreds of thousands of dollars. This is leaving local home sellers, often in purchase agreements themselves, without a buyer – potentially being forced to walk away from their own purchases and deposits if their buyer cannot be immediately replaced.

READ MORE

Thankful that my clients, first-time homebuyers, were able to beat 7 other offers to buy this detached house that cost under $620K in an established neighbourhood in Coquitlam.  Congratulations, D & Y!

Foreigners who buy residential property in the Vancouver area will have to pay an extra 15-per-cent tax as part of a B.C. government plan to slow the foreign speculation that many blame for making the region’s homes the most unaffordable in Canada.

The change to the province’s property transfer tax announced on Monday means an extra $300,000 in taxes for people from abroad buying a home for $2-million. Detached houses in the area typically run around that or higher. The surprise move comes after the government tracked all residential real estate transactions across British Columbia over four weeks in June and July and found foreign citizens who were not permanent residents bought just more than a billion dollars worth of property.

READ MORE

Cardero is the newest addition in Coal Harbour. 

Breathtaking views of the North Shore and Coal Harbour from Cardero's presentation centre. 

Please message me if you're interested in this development as I have VIP Access. 

Link:  Cardero

From 2016 onward, the double-digit increases in house prices continued at an average annual rate of 17 per cent. A single-family home in Vancouver purchased in that year is now worth somewhere in the neighbourhood of $80-million. Vancouver is now a resort city populated only by the world’s wealthiest.

The good news is the city has never been more multicultural, with money launderers from all parts of the globe living here for at least one week of the calendar year in order to avoid paying the city’s empty-home tax. The rotating cast of sheiks and warlords gives the city a special flair.

READ MORE

SOLD a few days ago and got my client a record breaking price in Richmond!  Congrats to my seller, J.L.!  I'm excited for you as you embark on your next chapter! 

Thank you everyone for following, liking, and sharing our social media posts! Your support is greatly appreciated! Here are the lucky winners to 1 of 2, $50 gift cards to White Spot, Earl's, Boston Pizza, The Keg, Boathouse, Hy's Steakhouse or The Glowbal Group:

@chief_bear_tran - Instagram like
@marcicisst - Facebook like

Congrats, Don and Marcy! I will be reaching out to you shortly. Please stay tuned for the next giveaway!

New data show foreign buyers purchased 5 per cent of the homes sold in and around Vancouver over three weeks last month and, on average, spent about $400,000 more than Canadians in these transactions, the first statistical hint of the impact offshore money might be having on the region’s overheated market.

Economists say the 5-per-cent figure is high enough to be a factor in the surging cost of Metro Vancouver’s housing stock, but B.C. Finance Minister Mike de Jong wouldn’t comment on how the two might be linked.

Across British Columbia, foreign buyers purchased about 3 per cent of homes between June 10 and June 29, a rate similar to the 4-per-cent tracked in New York State, according to figures released last month by the National Association of Realtors in the United States. Mr. de Jong’s office said the province had no comparative data from other parts of Canada, but official statistics released earlier this year found foreigners owned 3.3 per cent of of all condos in Greater Toronto, slightly down from 3.5 per cent in Metro Vancouver.

Read more