Market trends are crazy and unpredictable right now!

From competing offers of 20 to houses having $200,000 price reductions, we live in an unpredictable market! The highest records sales have been reported in the last few months and it appears now to be slowing slightly.
 I have heard many crazy stories about homes and condos selling in one day. I personally sold my own condo in one day with competing offers in May. A far cry from what we experienced last year with what I call the "Condo Slump". With houses going crazy, condos and townhouses are the only property new buyers can afford. 
We are living in a crazy feverish buying frenzy world, where housing prices and rents are out of control. All you have to do in tune in to the radio or see the news to hear the stories!

New look, New website!!!

Take a look at the new site....sherib.ca
Things are the same but simplified!

Laura Dereniowski joins with Sheri Brown

It is such an exciting time! I am thrilled to announce a new partnership with an incredible and very experience Realtor, Laura Dereniowski of RE/MAX Performance. Laura and I have been working in the same office for more than ten years and now we combine our years of expertise.

Laura's Bio:
With over a decade of experience as a REALTOR(r) in the Fraser Valley Region, Laura Dereniowski is well equipt to handle the needs of her clients. From her unique and trail blazing work with social media, to the dedication she shows to her clients and community, Laura's total commitment in all of her endeavors shines through. Laura has received countless accolades and awards during her career including recognition from the Fraser Valley Real Estate Board as a "Medallion" level agent, as well as a prestigious award from RE/MAX for her work with the GA committee as Chair. She is often seen volunteering for causes such as the Children's Miracle Network, local hockey fund raisers, and Artists for Conservation events. Laura has a unique empathy for the emotional pressures of a move, which keeps her focused on the best interests of her devoted clientele. With her positive demeanor and hearty laugh, Laura's business acumen and vibrant energy are powerful assets in helping others achieve their dreams.

I look to forward to working with Laura!

We are a Balanced Market here in the Fraser Valley!

News Release: May 2, 2014 BALANCED MARKET CONDITIONS IN THE FRASER VALLEY (Surrey, BC) – The growth in sales on Fraser Valley’s Multiple Listing Service (MLS®) outpaced the growth in new inventory in April, propelling the market into solid balanced conditions. In April, the Fraser Valley Real Estate Board’s total sales volume increased by 8 per cent year over year and 17 per cent compared to March while new listings saw a 7 per cent increase compared to April 2013 and a 13 per cent increase compared to the previous month. Ray Werger, president of the Board, says, “There’s a lot of optimism right now. It will take a few more months of numbers, but our 2014 market is already on track to outperform last year. “A measurement we rely on to gauge the health of the housing market is the ratio between sales and active listings and in April that number was the highest it’s been in our region in three years. Last month, that ratio for both single family detached homes and townhomes was 21 per cent, meaning for every 100 homes available, 21 sold. That’s a strong, balanced market.” Werger adds that demand for apartments in the Fraser Valley remained softer. “In some of our areas we have an oversupply of condos and you’ll see that reflected in prices. Generally, prices of benchmark or typical apartments have decreased over the past year. However, both buyers and sellers need to be aware that it depends on the community and the age and quality of the condo.” In April, the benchmark price of single family detached homes in the Fraser Valley was $566,000, an increase of 3.4 per cent compared to $547,300 during the same month last year. For townhouses, the benchmark price was $298,700, virtually unchanged compared to $299,100 in April 2013 and the benchmark price of apartments was $196,300, a decrease of 3.7 per cent compared to $203,900 in April of last year. In April, the Board processed a total of 1,470 sales through its MLS® compared to 1,366 sales in April 2013 and 1,259 sales in March; and, received 3,153 new listings last month compared to 2,951 new listings received during April 2013. The number of active listings reached 9,400, 7 per cent more than were available in March however 6 per cent fewer than were available during April of last year. In April, the number of days on average to sell a detached home in the Fraser Valley was 43; 47 for townhomes; and, 59 days on average for an apartment. All, four days faster than they were in April 2013.

Interview on Shaw TV's GO Vancouver! with Sheri Brown on the Delta Rise and living in Delta

Sheri was recently interviewed for Shaw TV's GO Vancouver on Delta and the new Development the Delta Rise. Have a look and see the interview! Delta Rise is the 37 story tower which is located at 80th and Scott Road in North Delta. To be built for 2016. Delta Rise on Shaw

First Time Buyers Article 24Hours Vancouver

I was happy to be interviewed for these fantastic articles written by Joanne Richard. First time buyers are out there now and there is some great information here to review! Published March 27th 2014 in the 24Hours Vancouver, 24Hours Toronto, the Calgary Sun, Edmonton Sun, and Ottawa Sun.

Vancouver Sun Westcoast Homes Publishes a Sale!

The Vancouver Sun featured a home Sheri Brown, Realtor for Surrey and Delta in the Bought/Sold Section of the Westcoast Homes By Nicola Way. View the link here! This townhome sold in just 4 days for 99% of the list price. Another successful sale for Sheri Brown and happy Sellers!

Fraser Valley Real Estate getting busy!

Continued improvement in Fraser Valley’s housing market SURREY, BC – Buyers and sellers continued to show greater confidence in the market last month as home sales on the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) edged closer to typical levels. The Board processed 1,258 sales in August, an increase of 17 per cent compared to the 1,073 sales in August of last year however, the volume remains 13 per cent below the 10-year average for the month. Ron Todson, President of the Board, explains, “The best way to describe our market currently is one of continued, modest improvement as buyers and sellers become more confident." “In the last month in the Fraser Valley, we’ve seen an increase in sellers willing to accept an offer subject to another sale, we’re seeing fewer deals collapse and we’re seeing more move-up buyers, either improving on the size or quality of their existing home. These are all indicators of a return to a more typical, stable market.” In terms of inventory, the Board received 2,353 new listings in August, a decrease of 2 per cent compared to the 2,406 new listings received during the same month last year – leaving the volume of active properties at 10,127 a decrease of 2 per cent compared to August 2012. Todson says, “An important measure of the balance between housing supply and demand is the number of months it would take to sell our existing inventory. We’re currently sitting at eight months’ supply in the Fraser Valley, indicating a balanced market, which is also being reflected in the stability of home prices. “Home prices generally remain unchanged or down slightly from a year ago; however, do check with your local REALTOR® if you’re in need of specific values because the range between property type and community can be sizeable.” In August, the benchmark price of single family detached homes in the Fraser Valley was $551,000, virtually on par with $551,400 during the same month last year. For townhouses, the benchmark price was $298,200, a decrease of 1.6 per cent compared to $303,000 in August 2012 and the benchmark price of apartments was $203,900, 1.3 per cent less than in August 2012 when it was $206,600. It's a good time to get out there and find your dream home!

Yikes!! City of Vancouver taxpayers facing upwards of $300-million loss on Olympic Village

From The Province Newspaper: VANCOUVER — In early 2009, Mayor Gregor Robertson warned Vancouver taxpayers that they were on the hook for “all of” the $1.1-billion Olympic Village project. After five years that dire statement is coming much closer to reality. The Province’s analysis shows that with marketing costs still mounting, and about 130 hard-to-sell village homes left, when the last unit is sold final taxpayer losses of over $300 million seem realistic. In 2010 a receiver, Ernst & Young, was tasked by the city to regain as much as possible of the $750 million owed to taxpayers, after developer Millennium defaulted. The $750-million loan didn’t include $171 million that the city was owed by Millennium for waterfront land that the village was built on. The city’s latest financial statements say that after writing off a $50-million loan loss, about $300 million remains to be paid. The problem is, real-estate experts say the remaining village homes generally have the worst layouts and views. According to The Province’s rough estimates, potential sales revenue might only come to about $100 million, after expenses. That means taxpayers seem likely to owe over $200 million and lose the value of the land. The city reviewed The Province’s analysis for this story and offered a response: “The financing for the village is a work in progress,” the city stated. “The city cannot predict the outcome of the village financing at this time.” In an interview, University of B.C. real-estate expert Tsur Somerville said: “I don’t think there is anything the city can do to mitigate the losses they will experience. “The best case was that the city got the loan paid off and got nothing for the land, and it doesn’t even seem to be looking at that anymore,” Somerville said. “The less-desirable units take longer to sell, but now they are trying to sell those units with a whole bunch of competing units coming on the market in that area.” But the village has bounced back since being labelled a “ghost town” in 2010. The latest reports show about 90-per-cent occupancy, plus thriving shops. But successful marketing and promotion efforts have come at a significant cost, and the bill continues to mount. The latest court-ordered marketing update from Ernst & Young shows that as of June, 339 units have been sold by the receiver, for proceeds of $331 million. The receiver gave the city $250 million. The rest of the money was gobbled up by real-estate-agent and marketing costs, strata fees, mounting legal fees, unexpected repair and maintenance bills and the receiver’s management fees of over $5 million. “The involvement by the receiver has exceeded its original estimates,” Ernst & Young’s June report reiterates, also noting that sales of a final 135 units will slow down “due to the remaining mix of inventory.” So the question is, when should city hall cut off the small army of real-estate agents, lawyers and accountants that have nursed the village back to life? Vision Vancouver Coun. Geoff Meggs, council’s expert on village finances, said he couldn’t comment. Meggs directed questions to the receiver, Craig Munro. “There are still too many variables to attempt an estimate of total final revenue,” Munro responded to The Province’s questions. NPA parks board commissioner John Coupar, meanwhile, said buying a condo in the village two years ago looks like a successful investment. “When we first moved down here it was pretty quiet and it was a bit of a leap of faith that it would work out,” Coupar said. “I’m not that familiar with the financial ins and outs, but from a residents’ point of view I think the place will come alive, and over time it will be seen as a real positive thing for the city.” scooper@theprovince.com twitter.com/scoopercooper

A Fun moment with the Team!

Filming our latest video at the new listing in Surrey the team was busy filming and taking pics! It was another sunny day in Surrey!

Fraser Valley Real Estate is Heating up!

From the FVREB Press Release!! Buyers and sellers in the Fraser Valley took advantage of the record breaking hours of sunshine in July as both sales and listings on the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) experienced a noticeable lift. We had an increase of 5 per cent compared to the 1,393 sales in July of last year and 10 per cent more than were processed in June. By historical comparison, sales in July ranked sixth going back to 2004. For over a year, monthly sales in Fraser Valley have been trending at 10-year lows. “We’re likely experiencing some pent-up demand coming off some very slow winter months, tiny changes in mortgage rates are always incentive for many buyers, and let’s not underestimate our glorious weather. For our buyers and sellers, a return to a normal, balanced market is welcome news.” The Board received 2,777 new listings in July – 5 per cent fewer than received during the same month last year, but 6 per cent more than were received in June – leaving the volume of active properties at 10,428 a decrease of 4 per cent compared to July 2012. In July, the benchmark price of single family detached homes in the Fraser Valley was $551,000, virtually on par with $551,400 during the same month last year. For townhouses, the benchmark price was $297,800, a decrease of 1.8 per cent compared to $303,400 in July 2012 and the benchmark price of apartments was $202,000, 2 per cent less than in July 2012 when it was $206,200. If you are considering a move now would be a great time to explore the new listing out there!

New Condo and Townhouse Maintenance Videos!

Check this out! Have a condo or townhouse? Well there are new videos that have been produced to help you maintain your property and why it's important to invest in these tasks through your strata fees. The Videos on You Tube now include "Clading, paints and stains, decks and balconies and building envelope maintenance"

North Delta and Surrey Markets have been extremely active in January. In all of the Fraser Valley in the first 17 days there were 598 homes sold and 2289 Listed homes. At this time last year we were up slightly in sales with 681 sales. North Delta currently has 139 homes on the market for Buyers to choose from ranging in price from a rancher for $384,000 to 1,088,000 in Canterbury Heights. In the townhouse and condo market in North Delta there are 41 units available ranging in price from $73,000 to $649,000 for a luxury townhome in Sunstone.
In the Surrey areas, North Surrey there are approximately 468 listed homes, Central Surrey 457 homes, and in the South Surrey area there is approx. 265 homes for Buyers to look through.
Sheri Brown & Associates has been quite busy in the last two weeks with many Market Evaluations and homeowners getting ready to place their homes on the market in the coming months. The “Spring” Market is sure to be a busy one, with the interest rates taking a decline at most major banks to 2.99% and under. For more information CHECK out www.MYREALTYTV.ca or www.SheriBrown.ca.

The Market is now Moving!

Over the Christmas season we had a typical slow down for listings and sales. However January has taken off with a lot of activity. Market evaluations are happening several times a week right now for people preparing for the spring market. You can get a jump on the market right now if you thought about listing a little before March. Sheri Brown & Associates has a new great listings this week. There is nothing else available in this area quite like this home. A four bedroom family home at 10972 63A Ave is a GREEN home. Enery Efficient with a 78 Energuide rating! The kitchen and bathroom have been tastefully decorated and re done. This truely is a gorgeous updated home. The first Open House is on Sunday the 29th of Jan 2-4pm. Or you can call Sheri. If you want more info on what's happening with the market as well feel free to pop an email to sheri@sheribassociates.ca

FrogBox's: A new way to move!

Recently I referred a client to FrogBox, this is an amazing company that delivers hard boxes with lids to your home, you pack, then unpack and they pick up. How simple is that! An amazing way to safe time and effort in finding cardboard boxes and helping save the environment. Check them out at www.frogbox.com

Whats Happening in Fraser Valley??

In August we had an increase of 35 percent more sales compared to last year in the same month. Usually we have seen a slower time in the summer months with sales and listings. But with the late start to our spring and a lack of summer sun we have had an unusual increase in sales. There were still many competing offers in some pockets throughout the lower mainland for single detached homes. The benchmark price for a home in the Fraser Valley in August was $528,959 an increase of 3.7%. There was also a slight increase from last year for the condos market with a 2.5% increase. With interest rates remaining low it's still a great time to think about moving to North Delta, Surrey or Cloverdale and anywhere in the Fraser Valley.
If you are thinking of selling or buying Sheri Brown & Associates can help you.

Newsletter Marketer of the Year 2nd Runner Up!

Sheri Brown was honoured to win the 2nd prize for Newsletter Marketer of the Year for the Ready to Go Newsletters contest that was held all across North America.
The full colour glossy newsletters focus on bringing in the local community, local real estate trends, the great articles from Ready to Go Newsletters and amazing photos to add to the fantastic read. She send out the newsletter to the local residents in her market area as well as her many clients in her large database. It shows what you can do with our content if you get really creative. The response from her clients has been full of great feedback and has been a welcome addition to her marketing plan.

A new Animated Commercial!

My Realty TV.ca June update here!

Stay tuned, the June MyRealtyTV.ca update is being posted shortly for the North Delta Market!

Now on My Realty TV!

There is a fantastic new site about the Real Estate markets of the Lower Mainland and Greater Vancouver. My Realty TV brings experienced Realtors in all the areas together to one place and speak with interactive and informative videos about the latest markets updates in the localized areas.

My Realty TV