June 2020 Newsletter
Andy Schildhorn • June 15, 2020
Hello and Welcome to our June Newsletter.
Summer is approaching and we are all coming out of COVID hibernation. It's wonderful, we are getting slowly back to normal however it is still advised to be cautious and maintain our 6’ protocols.
Our Market Update states Mortgage rates are at an all-time low. Money might be cheap however Buyers are cautious about economic uncertainty.
Our Featured Listing
is 20931 45A Avenue located in the Langley Uplands. This home boasts a 12,000sq.ft lot with plenty of room to raise your family. A bit of a treasure.
Our Langley Infographic
shows us pricing still went up last month with sales volume low. Again this is brought about due to a lack of inventory.
Every Saturday morning our family heads over to the Fort Langley Farmer’s Market. Lots of local fresh farm produce. Right now a special treat are the live spotted prawns.
Rita Cousins, Mortgage Broker talks about the 20% down payment requirements
and how this affects insured and non-insured Buyers
Irina Bartnik Notary Public, asks the question. Do you know you may be able to defer your Property Taxes this year?
Lastly and just recently announced, CMHC has new restrictions for insured buyers. This could lower purchasing power by up to 11%. Interestingly Genworth and Canada Guaranty, the two other home insurers, will not adopt these new rules.
Well, that is it for this month. In all this confusion and uncertainty, real estate is recovering. Plans which were put on hold are now becoming a reality. As always I welcome your call to put your plans into reality.
Thanks for dropping by, Have a Great Day and I look forward to hearing from you soon!
It's basically the most basic dog you can get, but they are adorable. They're popular for a reason. Support our very own LAPS
Everything you need to know about the upcoming federal election in Langley. The 2025 federal election campaign will end April 28 with a new set of Parliamentarians tasked with the job of governing Canada. Read More Here
Homebuyers in Metro Vancouver are sitting on the sidelines despite market conditions tipping in their favour, according to the latest data from the Greater Vancouver Realtors (GVR). Residential home sales in March 2025 totalled just 2,091—down 13.4 per cent from March 2024 and 36.8 per cent below the 10-year seasonal average. It marked the slowest March for sales since 2019. Active listings climbing to highest levels seen in a decade At the same time, active listings reached levels not seen in nearly a decade. New listings for detached, attached and apartment properties were up 29 per cent year-over-year to 6,455—a 15.8 per cent increase over the 10-year average. Total active listings on the MLS reached 14,546, up 37.9 per cent compared to March 2024 and 44.9 per cent above the seasonal average. “If we can set aside the political and economic uncertainty tied to the new U.S. administration for a moment, buyers in Metro Vancouver haven’t seen market conditions this favourable in years,” said Andrew Lis, GVR’s director of economics and data analytics. “Prices have eased from recent highs, mortgage rates are among the lowest we’ve seen in years, and there are more active listings on the MLS than we’ve seen in almost a decade.” Read More
