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I have sold a property at 213 17712 57A AVE in Surrey

I have sold a property at 213 17712 57A AVE in Surrey. See details here

'West on the Village Walk'. This Beautiful 2-bedroom 947 sq ft CORNER, unit boasts a large patio with beautiful views of the gardens below. Open concept floorplan is filled with natural light from the oversized windows. This unit is move in ready and looks like a showhome... The living room features 9’ ceiling, cozy F/P and access to the large private patio. The kitchen has maple shaker cabinets, s/s appliances, subway tile backsplash, granite countertops & breakfast bar. The master features walk thru closet & 4 pc ensuite. Perfect for pets! One parking stall, 1 storage locker. Fantastic central location in the heart of downtown Cloverdale. Close proximity to elementary and high schools & Kwantlen Campus. Walk to shops, restaurants, transit, and easy access to Hwy 10 & 176 St. A must see!


I have sold a property at 104 16137 83 AVE in Surrey

I have sold a property at 104 16137 83 AVE in Surrey. See details here

Welcome to Fernwood! Nestled at the heart of this sought-after Fleetwood community, this ground floor haven offers 2 beds, 2 baths, 1,149 sq/ft modern space. A spacious sliding door leads to a private patio. Renovated galley-style kitchen shines with quartz counters, stainless steel appliances, including sleek induction oven. Built-in pantry enhances convenience. Recently renovated bathrooms new laminate floors and carpet throughout. Steps away from Walnut Road Elementary, Fleetwood Rec Center, Surrey Sport & Leisure Complex, dining, Fresh Street Market. Fraser Highway's upcoming skytrain brings added convenience. Parks, urban delights nearby. Two side by side large parking spots and storage locker. Your perfect home awaits! Open House Sat. Aug. 26th 2-4pm, Sun. Aug. 27th 2-4pm.


I have sold a property at 302 1500 MARTIN ST in White Rock

I have sold a property at 302 1500 MARTIN ST in White Rock. See details here

Must See 806 sq/ft Ocean View 1 bedroom + Flex unit. Foster Martin is an exceptional blend of un-compromised sophistication, urban connectivity and seaside living. The Martin tower offers elegant architecture with views form every balcony. The interior is well thought out with large windows facing West towards the ocean views. The kitchen is fully equipped for a master chef with a Miele integrated appliances package. The large patio faces west and has peek-a-boo Ocean Views to the South and is an excellent place to enjoy your morning coffee. As a resident of Foster Martin, you will have access to 10,000 square feet of health and wellness amenities including an indoor/outdoor pool, and a full-service concierge. Book your private Showing today.


Fraser Valley real estate sales dip in August; prices hold steady

SURREY, BC — A combination of seasonal trends and cautious anticipation of the next rate announcement saw the Fraser Valley real estate market slow in August as sales fell slightly for the second month, after reaching a 15-month high in June.


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Bank of Canada maintains policy rate, continues quantitative tightening.

The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is also continuing its policy of quantitative tightening.

The Canadian economy weakened surprisingly more in the second quarter than the market and the Bank of Canada expected. Real GDP edged downward by a 0.2% annual rate in Q2. The consensus was looking for a 1.2% rise. The modest decline followed a downwardly revised 2.6% growth pace in Q1. (Originally, Q1 growth was posted at 3.1%.) According to the latest monthly data, growth dipped by 0.2% in June, and the advance estimate for economic growth in July was essentially unchanged. This implies that the third quarter got off to a weak start.

The Bank of Canada forecasted growth of 1.5% in Q2 and Q3 in its latest Monetary Policy Report released in July. The central bank is now justified in pausing interest rate hikes when it meets again on September 6th. Today's report is consistent with the recent rise in unemployment. It suggests that excess demand is diminishing, even when accounting for such special dampening factors as the expansive wildfires and the BC port strike.

Some details of Q2 Growth
Housing investment fell 2.1% in Q2, the fifth consecutive quarterly decline, led by a sharp drop in new construction and renovations. No surprise, given the higher borrowing costs and lower demand for mortgage funds, as the BoC raised the overnight rate to 4.75% in Q2. Despite higher mortgage rates, home resale activity rose in Q2, posting the first increase since the last quarter of 2021.

Significantly, the growth in consumer spending slowed appreciably in Q2 and was revised downward in Q1. 

Bottom Line

The weakness in today's data release may be a harbinger of the peak in interest rates. Inflation is still an issue, but the 5% policy rate should be high enough to return inflation to its 2% target in the next year or so. As annual mortgage renewals peak in 2026, the increase in monthly payments will further slow economic activity and break the back of inflation.

Information provided by Sheryl Elsom

The next scheduled Bank of Canada rate announcement is October 25th, 2023. 

​Official Press Release HERE

​Please do not hesitate to contact me should you have any questions or would like to discuss further.



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