New GST Rebate Could Save First-Time Buyers Up to $50,000

A Big Win for New Home Buyers in 2025

If you're a first-time home buyer in Canada, there's some exciting news that could seriously boost your budget—and your buying power.

As of May 27, 2025, the federal government has introduced a new GST rebate for first-time home buyers on new construction homes, offering savings of up to $50,000. This is a major step toward improving housing affordability for Canadians and encouraging more new homes to be built.

Here’s what you need to know:

Top 5 Timely Tips for Selling Your Home This Summer

Thinking of selling your home this summer? With longer days, motivated buyers, and strong seasonal demand, now is the time to get serious about standing out in the market.

But here’s the reality: even though inventory has ticked up slightly, buyers have more options than they did a year ago. That means it’s not just about listing your home—it’s about making it shine.

If you're preparing to sell, here are five expert-backed tips to help your property stand out and attract the best offers.

1. Work With a Real Estate Agent Early

Before you tackle paint swatches or clean out the garage, talk to a real estate expert. A good agent does more than list your home—they help shape your strategy from day one.

From pricing to presentation, your agent can identify which improvements will have the biggest impact and ensure your listing hits the market at the right time and at the right price.

Pro Tip: Don’t wait until your home is “ready” to call an agent. Their guidance in the prep phase could save you time and make you money.

2. Make Your Home Show-Ready

Yes, it’s still a seller’s market in many areas—but that doesn’t mean buyers are compromising. With homes staying on the market a bit longer than in previous years, it’s more important than ever to make yours look its best.

That means:

• Decluttering and depersonalizing

• Tackling minor repairs

• Freshening up paint and trim

• Creating clean, inviting spaces that buyers can picture themselves in

Think of it this way: your home’s first impression should be a lasting one.

3. Maximize Your Curb Appeal and Listing Photos

Summertime is prime time for beautiful listing photos. Bright flowers, trimmed hedges, and a freshly painted front door can go a long way in making your home pop online—and in person.

Make sure your landscaping is clean and cared for, and don’t underestimate the power of professional photography. Most buyers will see your home online before they ever walk through the door. Make that first click count.

4. Aim for “Move-In Ready”

More and more buyers are looking for homes that are ready to go. They're juggling busy schedules and may not want the hassle of post-purchase renovations.

Simple upgrades like new light fixtures, clean caulking, or a modern faucet can send a message that the home has been cared for. Want to take it a step further? A pre-listing inspection can uncover small issues before they become buyer objections.

5. Think Like a Buyer

If you’re selling, chances are you’re buying, too. So think about your timeline, your financing, and your game plan on both ends of the deal.

Consider:

• Will you be porting your mortgage?

• What will your new monthly costs look like?

• Are there closing date preferences that could make your life easier?

Thinking like a buyer helps you evaluate offers more clearly—and gives you a leg up in negotiations.

Final Thoughts

Selling in the summer can be a fantastic opportunity—if you’re prepared. From staging to strategy, a well-executed plan makes all the difference.

If you’re planning to sell and want a personalized plan to get your home sold for top dollar, I’d be happy to help.

Want more tips for selling in South Surrey and White Rock?
Let’s chat. I’ll simplify the process—and help you move forward with confidence.

May brings much-needed lift to Fraser Valley housing market.

SURREY, BC — On the heels of a quiet April, Fraser Valley home sales saw a modest but encouraging uptick in May — a sign that buyer confidence may slowly be returning to the market. 

The Fraser Valley Real Estate Board recorded 1,183 sales on its Multiple Listing Service® (MLS®) in May, up 13 per cent from April. Despite the increase, sales were 22 per cent below May 2024 levels and 36 per cent below the 10-year seasonal average.

Overall inventory continues to build, with active listings up six per cent in May, to 10,626, an increase of 34 per cent year-over-year and 54 per cent above the 10-year seasonal average. New listings increased seven per cent from April to May to 4,007.

The overall sales-to-active listings ratio of 11 per cent indicates the Fraser Valley remains in a buyer’s market. The market is considered balanced when the ratio is between 12 per cent and 20 per cent.

Across the Fraser Valley in May, the average number of days to sell a single-family detached home was 34, while for a condo it was 33 days. Townhomes took, on average, 27 days to sell.

The composite Benchmark price in the Fraser Valley decreased one per cent in May, to $963,200.

For the latest statistics package, click HERE

If you have any questions, feel free to reach out. I am here to help: 

Connect

Canada has a new Prime Minister, and his priorities are already making waves across the country. Mark Carney, former Bank of Canada Governor and now Prime Minister, laid out five major policy areas his government will focus on. And yes — several of them will have a direct impact on real estate in British Columbia and across the country.

Whether you're a buyer, seller, investor, or simply keeping an eye on the Fraser Valley housing market, here’s how Carney’s plan could shape the landscape.

1. Building Canadian Resilience Through Infrastructure and Investment

One of Carney’s biggest promises is to boost internal economic strength — reducing trade barriers between provinces, promoting productivity, and investing in large-scale, nation-building infrastructure.

Real Estate Impact:
More infrastructure means more development. That includes transit expansion, utilities, and zoning improvements, all of which make land development easier and more attractive. In the Fraser Valley, this could help unlock new neighbourhoods and improve housing supply.

2. A New Cabinet and a Balanced Approach to Policy

Carney plans to swear in a fresh, gender-balanced cabinet and lead a minority government without forming a coalition with the NDP. This means he’ll need majority support in Parliament to pass legislation — which could force more consensus-driven policies.

Real Estate Impact:
This could lead to more moderate, nationally aligned housing strategies — rather than partisan measures focused on urban or rural areas only. It may also slow the rollout of aggressive reforms, but ensure that whatever does pass has broad support.

3. Cost-of-Living Relief and a Massive Push for New Housing

Carney is tackling affordability head-on. His government will:

• Cut the lowest federal income tax bracket by 1%

• Remove the GST on newly built homes under $1 million for first-time buyers

• Launch Build Canada Homes, a new program to provide up to $25 billion in financing for modular and prefab home builders

Real Estate Impact:
This is one of the most significant government pushes for housing supply in decades. First-time homebuyers could save thousands. More importantly, support for modular construction may finally offer a scalable solution to housing shortages in places like the Fraser Valley, Langley, and Chilliwack.

4. National Security and Law Enforcement Spending

The new government will hire 2,000 new public safety officers and invest $31 billion in national defence, aiming to meet NATO’s 2% GDP target by 2030.

Real Estate Impact:
Areas near military installations and border communities may see an increase in demand. Local economies around those zones could benefit from job growth and investment, supporting both residential and commercial property markets.

5. Immigration Caps to Reduce Housing and Social Service Pressure

Carney plans to cap temporary residents — including international students and temporary foreign workers — at 5% of Canada’s population by 2028. That’s a decrease from the current 7.3%.

Real Estate Impact:
This move could ease pressure on urban rental markets and help rebalance housing demand. However, in regions that rely on temporary residents for population growth and labour — like parts of Metro Vancouver and the Fraser Valley — there may be short-term effects on demand and vacancy rates.

Final Thoughts: What This Means for Buyers and Sellers

Mark Carney’s policies signal a shift in federal priorities: from reactive affordability measures to proactive, long-term solutions. The combination of tax breaks, new homebuyer support, and major investment in building homes is a positive sign for the housing market.

If you’re planning to buy, sell, or invest — now is the time to get ahead of these changes. Understanding how government policy affects real estate is key to making smart moves in any market.

Need help navigating the changing landscape?

As a local expert in South Surrey and Fraser Valley real estate, I’m here to simplify the process and help you make confident, informed decisions. Reach out anytime for a strategy session tailored to your goals.

I’m here to help. LET’S CONNECT

Mark Carney’s Top 5 Priorities—and What They Mean for Real Estate in Canada

It’s official—Mark Carney is Canada’s new Prime Minister, and he’s hit the ground running. In his first post-election press conference, he laid out five key priorities that will shape his government’s focus. But as a real estate professional (and proud housing nerd), I’m most interested in how these priorities will ripple through the housing market.

Let’s break down Carney’s top five goals—and what they could mean for Canadian real estate, from interest rates to inventory.

Top 5 Signs You’re Ready to Upgrade to a Bigger Home

You might not need a flashing neon sign saying “Time to Move!” (although that would be convenient). Here are the real-world signs it's time to upsize:

1. Your Storage Spaces Are at Critical Mass

If you open a closet and a soccer ball hits you in the face, it might be time for a bigger place.

2. Your Family Is Growing—Fast

More people = more space needed. Whether it’s kids, pets, or in-laws, a full house can feel too full quickly.

3. You’re Working from the Kitchen Table

Home offices aren’t a luxury anymore—they’re a necessity. If your "office" doubles as the breakfast nook, upgrading might be a smart move.

4. Your Equity Has Grown

If your current home has gained value, you might have the financial muscle to level up to a bigger space without a major financial stretch.

5. Your Dreams Are Bigger Than Your Square Footage

If you’re craving a yard, an extra bedroom, or a chef’s kitchen, it might be time to make those dreams a reality.

Bigger isn’t always better—but the right bigger definitely can be!

Abundant listings and stable prices not enough to drive April sales in the Fraser Valley.

SURREY, BC — Home buyers in the Fraser Valley are enjoying a selection of homes for sale not seen in more than a decade. The growing inventory of more than 10,000 active listings means, in many cases, that buyers have time, selection and price negotiation on their side.

However, despite the abundance of listings and potential buying opportunities, spring sales remain sluggish. The Fraser Valley Real Estate Board recorded 1,043 sales on its Multiple Listing Service® (MLS®) in April, up one per cent from March and down 29 per cent year over year. New listings declined slightly in April, down one per cent from March.

The overall sales-to-active listings ratio indicates a buyer’s market in the Fraser Valley, with a ratio of 10 per cent. The market is considered to be balanced when the ratio is between 12 per cent and 20 per cent.

  Across the Fraser Valley in April, the average number of days to sell a single-family detached home was 32, while for both townhomes and condos it was slightly lower at 29 days.

The composite Benchmark price in the Fraser Valley decreased 0.2 per cent in April, to $972,700.

For the latest statistics package, click HERE

If you have any questions, feel free to reach out. I am here to help: 

Connect

We’ve weathered storms before.
Remember the 2008 market crash? We came through it.
The 2016 correction? Survived that, too.
COVID? We adapted, pivoted, and kept moving.

Now in 2025, with chatter about interest rates, inflation, and tariffs—it’s easy to feel uneasy. But take a deep breath. This isn’t the end of the road. The market is shifting—not crashing—and that shift is opening doors for savvy buyers, sellers, and homeowners alike.

Here’s what you need to know—and how to make the most of the moment.

What’s Happening in the Real Estate Market Right Now?

The Bank of Canada has lowered interest rates again, and more cuts are expected throughout the year. According to Dr. Sherry Cooper, Chief Economist at Dominion Lending Centres, the overnight rate could drop to 1.75% by year-end, which would significantly ease borrowing costs.

At the same time, global economic factors like trade tariffs are stirring uncertainty, but the big picture? Lower rates = more activity in the housing market.

If You Own a Home

• Mortgage up for renewal? You could be looking at lower monthly payments.

• Thinking renos? Refinancing may now be more affordable than ever.

• Have a HELOC? Your payments might already be dropping—or will soon.

This could be a great time to assess your financial picture and use your home’s equity wisely.

If You’re Selling a Home

Yes, inventory is higher than it’s been in years—but that’s not a bad thing.

More listings mean more buyers are out looking. They’re serious. They’re informed. And they’ve got access to better borrowing options.

Plus, with the spring market warming up and competition still catching up, your home has a real chance to stand out—especially if priced and marketed right.

Pro tip: Homes that are well-prepared and strategically listed are still selling fast—and at strong prices.

If You’re Looking to Buy

Lower interest rates mean lower monthly payments, making homeownership more accessible.

But here’s the heads-up: more competition is coming. Buyers who’ve been sitting on the sidelines are jumping back in. That window of opportunity won’t stay open forever—so having your financing in place and a plan ready could make all the difference.

What Should You Do Next?

Every homeowner’s situation is different. Whether you’re buying, selling, refinancing—or just wondering if you should do anything at all—now is the time to get clear on your options.

Let’s chat. No pressure, no pitch—just a real conversation about what makes the most sense for you in today’s real estate market.

Have questions? Want to run some numbers? Thinking about a move this year?

I’m here to help. Let’s connect.

CREA & BCREA Push Housing to the Forefront of the Federal Election Debate

3. Doubling Community Housing
A mix of new policies—including a housing bond, an affordable housing tax credit, and expanded CMHC programs—would support the construction, acquisition, and maintenance of affordable housing.

4. Unlocking Land for Housing
By repurposing surplus and underutilized lands, expanding the Build Canada program, and leveraging municipal land, CREA aims to create more community and affordable housing opportunities.

5. Strengthening Housing Supply Chains
Reducing interprovincial trade barriers and diversifying import sources would help Canada secure housing materials without excessive reliance on the US market.

The Time for Action is Now

With affordability concerns mounting, housing must be a top priority in the upcoming federal election. CREA and BCREA are ensuring that candidates and policymakers focus on long-term solutions that protect homeowners, renters, and communities. By advocating for a more resilient housing market, these organizations are working to make homeownership and rental stability a reality for all Canadians.

Top 5 Tips to Be Ready When Your Dream Home Hits the Market

In today’s fast-moving real estate market, preparation is key. The last thing you want is to find your dream home—only to lose it because you weren’t ready to act. Here are five essential steps to ensure you’re ready to make an offer the moment the right home comes along.

1. Get Your Mortgage Documents in Order

Before you start house hunting, have your financial paperwork ready. This includes:
✅ Government-issued ID
✅ Proof of income & employment
✅ Bank statements & proof of down payment
✅ A mortgage pre-approval letter
Having these documents ready will help you move quickly when you find the right home.

2. Know Your Offer Terms

Be clear on what you’re willing to offer, including:
✔️ Purchase price & deposit amount
✔️ Closing date preferences
✔️ Any conditions (like financing or home inspection)
This speeds up the process when it's time to submit an offer.

3. Be Ready to Make a Personal Connection

In competitive markets, a personalized letter to the seller can make a difference. Express why you love the home and how it fits your future—it just might give you an edge over other buyers.

4. Have an Expert Review Your Deal

Your real estate agent is your biggest asset when structuring an offer, negotiating, and ensuring all paperwork is in order. For extra peace of mind, consider a real estate lawyer to review your contract before signing.

5. Stay Flexible and Act Fast

When the perfect home comes on the market, hesitation can mean losing out. Be prepared, act quickly, and trust your strategy.

With the right preparation, you’ll be ready to secure your dream home with confidence and ease!

Tariffs, economic uncertainty stall spring market in the Fraser Valley

SURREY, BC – March home sales in the Fraser Valley remained nearly 50 per cent below the 10-year average — making for the slowest start to the spring market in more than 15 years.

The Fraser Valley Real Estate Board recorded 1,036 sales in March, up 13 per cent from February, but still 26 per cent below sales recorded this time last year.

Following a decline on the Board’s Multiple Listing Service® (MLS®) in February, new listings increased 22 per cent in March to 3,800. Overall inventory is at a decade-high level, with 9,219 active listings, 49 per cent above March 2024 and 59 per cent above the 10-year seasonal average.

The overall sales-to-active listings ratio continues to signal a buyer’s market in the Fraser Valley, with a ratio of 11 per cent. The market is considered to be balanced when the ratio is between 12 per cent and 20 per cent.

Across the Fraser Valley in March, the average number of days to sell a single-family detached home was 31, while for a condo it was slightly higher at 33 days. Townhomes took, on average, 27 days to sell.

The composite Benchmark price in the Fraser Valley increased just under half a per cent in March, up 0.4 per cent to $974,400.

For the latest statistics package click HERE

If you have any questions, feel free to reach out. I am here to help: 

Connect

Canada’s Housing Market in 2025: Opportunity or Uncertainty?

Prices Holding Steady… For Now

Despite shifting supply and demand, home prices remain remarkably stable. The MLS Home Price Index dipped by just 0.08% month-over-month, while the national average price rose 1.1% year-over-year to $670,064. However, this stability feels fragile. If trade tensions escalate, housing demand could take a hit, putting downward pressure on prices in affected regions.

Trade War Threat: A Game-Changer for Housing?

The biggest wildcard in the housing market right now is the potential U.S.-Canada trade war. Proposed tariffs

MARCH 13-16, 2025 | BC Place Stadium

I have FREE tickets available for the BC Home & Garden  Show 

I will be at the show on March 15th from 11-1 pm this year with my wife Samantha from Kleen Design, if you have any design questions or would just like to connect for a drink, text me when you are at the show...

EMAIL ME for tickets

Furnace and Boiler Checklist

Replace the Air Filter: Check the furnace air filter and replace it. A clean filter allows for better airflow, improves efficiency, and helps maintain indoor air quality.

Check the Thermostat: Test your thermostat to ensure it's working correctly. Consider upgrading to a programmable thermostat if you don't have one, as it can help you save energy and money.

Inspect the Vents and Registers: Ensure that all vents and registers are clear of obstructions such as furniture, curtains, or rugs. Proper airflow is crucial for efficient heating.

Inspect the Exhaust Flue: Check the furnace exhaust flue for any obstructions or debris. 

Schedule Professional Maintenance: Consider hiring a professional HVAC technician to perform a thorough inspection and tune-up. They can identify and address potential issues before they become major problems.

• Clean/Lubricate blower motor

• Check for gas leaks and carbon monoxide

• Inspect heat exchanged

• Pilot safety system

• Clean and check burners

• Test limit switches and main burners

Buyers gaining upper hand in Fraser Valley real estate market

SURREY, BC — For the first time in four months, home sales in the Fraser Valley have increased as buyers capitalize on more selection and weakening prices.

 The Fraser Valley Real Estate Board recorded 920 sales in February, up 13 per cent from January, but 26 per cent below sales recorded in February 2024.

Despite a nine per cent drop in newly listed homes on the Board’s Multiple Listing Service® (MLS®), new listings remained 14 per cent above the 10-year seasonal average, at 3,121. Overall inventory remains high, at 8,070 active listings, 45 per cent above February 2024 and 55 per cent above the 10-year seasonal average.

 The overall sales-to-active listings ratio continues to signal a buyer’s market in the Fraser Valley, with a ratio of 11 per cent. The market is considered to be balanced with the ratio is between 12 per cent and 20 per cent.

 Homes across the Fraser Valley sold in fewer days in February compared to January. The average number of days to sell a single-family detached home was 39, while for a condo it was 36. Townhomes took, on average, 32 days to sell.

  The composite Benchmark price in the Fraser Valley dipped less than a quarter of a per cent in February, down 0.2 per cent to $962,500.

For the latest statistics package click HERE

If you have any questions feel free to reach out. I am here to help: 

Connect

BC Home Flipping Tax: What Homeowners Need to Know

As of January 1, 2025, the BC Home Flipping Tax is officially in effect. This new tax targets homeowners who sell residential properties, presale contracts, or assignments within two years of ownership. It’s designed to curb speculative activity in the real estate market and promote long-term ownership.

If you’re a homeowner in British Columbia, here’s a comprehensive breakdown of how this tax works, who it applies to, and what you need to consider before selling your property.

What Is the BC Home Flipping Tax?

The BC Home Flipping Tax is a provincial initiative to discourage quick property sales for profit, often referred to as "flipping." It applies to income from the sale of properties held for less than two years, with a declining tax rate that diminishes to zero after 730 days of ownership.

The tax aims to stabilize the housing market by reducing speculative investments and encouraging buyers to view property as a long-term investment.

How the BC Home Flipping Tax Works

Here’s how the tax is structured:

Tax Application

• Applies to residential properties, presale contracts, or assignments sold after January 1, 2025, if owned for less than 730 days.

• Includes properties purchased before January 1, 2025, but sold after this date and owned for less than two years.

Tax Rate

• 20% tax rate on income from sales within the first 365 days of ownership.

• The rate gradually decreases between 366 and 730 days of ownership until it’s fully eliminated.

Who Pays?

• This tax applies to all sellers, including individuals, corporations, partnerships, and trusts, regardless of residency status.

Exemptions to the BC Home Flipping Tax

While the tax applies broadly, certain situations qualify for exemptions. Here are some of the key exemptions:

1. Primary Residences

• Homes that are your principal residence may be exempt, but specific criteria and documentation are required.

2. Life Events

• Certain life circumstances allow for exemptions, including:

  • Death of the Owner: If the property owner passes away.

  • Divorce or Separation: When a property is sold due to the end of a marriage or common-law relationship.

  • Job Relocation: Significant employment-related relocations.

  • Involuntary Disposition: Forced sales due to natural disasters or other unavoidable events.

3. Filing Requirements

• Exemptions are not automatic. Homeowners must file the necessary paperwork and provide proof of eligibility to qualify for exemptions.

Key Differences: BC Home Flipping Tax vs. Federal Property Flipping Tax

Both taxes target short-term sales, but they are separate and distinct:

• Federal Property Flipping Tax: Applies Canada-wide to properties held for less than 12 months, treating profits as regular income.

• BC Home Flipping Tax: Provincial, with a two-year timeline and a declining tax rate.

It’s possible to be subject to both taxes, depending on your situation.

What Homeowners Need to Consider

1. Timing Your Sale

Selling your property before the two-year mark could mean losing a significant portion of your profit to this tax. If possible, aim to hold onto your property for at least 730 days to avoid the tax entirely.

2. Understanding Exemptions

Life happens—whether it’s a new job in a different city or a divorce. Familiarize yourself with the exemptions and ensure you meet the filing requirements to avoid unnecessary taxation.

3. Financial Planning

If you must sell within two years, factor the tax into your financial plans. A 20% tax on profits from a sale in the first year can significantly impact your bottom line.

4. Market Dynamics

The introduction of this tax could lead to reduced speculative activity, potentially stabilizing home prices. Be aware of how this might influence the value of your property when selling.

Examples of How the BC Home Flipping Tax Applies

Example 1: Selling Within a Year

You bought a townhouse in February 2024 and sell it in August 2025 for a $100,000 profit. Since you owned the property for less than 365 days, you’ll owe a 20% tax on the profit, totaling $20,000.

Example 2: Job Relocation

You purchased a home in 2023 but must sell it in April 2025 due to a job transfer to another province. If you meet the exemption requirements, you can avoid paying the tax.

Example 3: Divorce or Separation

A couple who co-owns a home for 18 months decides to sell during their separation. Provided they meet the necessary criteria and file the required paperwork, they may qualify for an exemption.

How to Prepare as a Homeowner

1. Consult a Professional

Speak with a tax advisor or accountant to understand how this tax might apply to your situation and whether you qualify for exemptions.

2. Organize Your Records

Keep thorough records of your property’s purchase, sale, and any relevant documentation to support your exemption claims.

3. Think Long-Term

When buying a property, consider your long-term plans to avoid being caught by this tax if you need to sell quickly.

Conclusion

The BC Home Flipping Tax represents a significant shift for homeowners in British Columbia. Understanding how this tax works, knowing the available exemptions, and planning your real estate moves strategically can help you minimize its impact.

Whether you’re planning to sell or simply want to stay informed, taking proactive steps now can save you time, stress, and money down the road. Stay ahead of the game, and don’t hesitate to consult professionals for tailored advice.

FAQs

1. Does the BC Home Flipping Tax apply to properties purchased before January 1, 2025?

Yes. If the property is sold after January 1, 2025, and has been owned for less than two years, the tax applies.

2. Are all primary residences exempt from the tax?

No. While primary residences can qualify for an exemption, you must meet specific conditions and file the necessary paperwork.

3. How is the tax rate calculated for sales between 366 and 730 days?

The tax rate gradually decreases over time and is fully eliminated once ownership surpasses 730 days.

4. Can I qualify for an exemption without filing the required paperwork?

No. Proper documentation is mandatory to claim an exemption. Failure to file could result in being taxed.

5. Could I owe both the BC Home Flipping Tax and the federal property flipping tax?

Yes, depending on the timing and circumstances of your sale, you may be subject to both taxes.

For more information feel free to reach out. 

Wills, Powers of Attorney, and Estate Planning: Why You Should Plan Now

Many people put off estate planning, thinking it’s something to worry about later in life. However, the reality is that having an estate plan in place now is one of the best ways to protect your loved ones and ensure your wishes are carried out if the unexpected happens.

Estate planning isn’t just about dividing assets—it’s about deciding who will manage your affairs, who will take care of your children, and how your financial and healthcare decisions will be handled if you are unable to make them yourself.

MARCH 13-16, 2025 | BC Place Stadium

I will have tickets again for the BC Home and Garden Show. stay tuned on how to get tickets…

Essential Estate Planning Documents

A comprehensive estate plan includes more than just a will. Here are the key documents you should consider:

1. Will

A will is the cornerstone of any estate plan. It outlines how your assets will be distributed, who will manage your estate, and, most importantly, who will become the guardian of your children if needed. Without a will, these critical decisions may be left to the courts.

2. Power of Attorney

A power of attorney allows you to designate someone you trust to handle your financial affairs if you become unable to do so yourself. This ensures that your bills are paid, your investments are managed, and your financial well-being is protected.

3. Representation Agreement

A representation agreement allows you to appoint someone to make personal and healthcare decisions on your behalf if you become mentally or physically incapable. This document is crucial in ensuring that your healthcare wishes are followed.

4. Advance Care Plan

An advance care plan is a written document outlining your healthcare wishes and instructions for future medical care. It may include:

• A power of attorney for financial decisions

• A representation agreement for healthcare decisions

• An advance directive specifying what kind of medical treatment you do or do not want in certain situations

Having an advance care plan in place helps ease the burden on loved ones, ensuring they know your wishes and can advocate for your best interests.

Fraser Valley’s decade-high inventory could open doors for buyers.

SURREY, BC — Growing inventory and stable prices could lead to opportunities for buyers in the Fraser Valley market this winter despite uncertain economic conditions.

Newly listed homes jumped 167 per cent from December to January, with 3,432 listed on the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®). At 7,251 active listings, inventory is at a 10-year seasonal high, 54 per cent above the 10-year average.

While sales remained slow in January, with 818 properties sold (down 18% from December), the combination of stable prices and abundant selection presents potential opportunities for buyers to get back into the market.

 The sales-to-active listings ratio appears to bear this out. At 11 per cent, the overall ratio is signaling a buyer’s market, with detached homes firmly in buyer’s market territory. The market is considered to be balanced when the ratio is between 12 per cent and 20 per cent.

 It took longer to sell homes in January compared to December. Across the Fraser Valley, the average number of days to sell a single-family detached home was 52, while for a condo it was 42. Townhomes took, on average, 38 days to sell.

Benchmark prices in the Fraser Valley held relatively steady in January, with the composite Benchmark price down 0.03 per cent to $964,800.

For the latest statistics package click HERE

If you have any questions feel free to reach out. I am here to help: 

Connect

Highlights: BC Home Flipping Tax Now in Effect

As of January 1, 2025, the BC Home Flipping Tax is officially active. This new tax targets speculative property flipping to promote long-term homeownership and market stability. It applies to properties sold within 730 days (two years) of ownership, including sales of presale contracts or assignments. The tax rate starts at 20% on profits for properties sold within the first year of ownership and gradually decreases, reaching zero after two years. Importantly, this tax applies to individuals, corporations, partnerships, and trusts, regardless of residency status.

As the year comes to a close, I want to take a moment to express my deepest gratitude for your trust, support, and friendship. Whether we worked together this year or in the past, your belief in me has been invaluable, and I am truly honored to have been part of your journey.

2024 has been filled with exciting milestones and memorable moments, and I couldn’t have achieved them without amazing clients and friends like you. I am so grateful for the opportunity to help you with your real estate goals and look forward to continuing to support you in any way I can in the future.

As we welcome 2025, I wish you and your loved ones a year filled with health, happiness, and prosperity. May this new year bring fresh opportunities, new adventures, and plenty of reasons to celebrate.

Top 5 Tips for Selling Your Home During the Holidays

The New Year is a time for fresh starts and ambitious goals, but sticking to those resolutions can feel like an uphill battle. Studies reveal that nearly 70% of people abandon their resolutions within months. The good news? With the right approach, you can set yourself up for success. Here are five expert-backed strategies to help you stay on track and achieve your goals.

1. Start Small and Build Momentum

Rather than overhauling your life overnight, break your resolution into smaller, manageable steps. For example, instead of vowing to “get fit,” commit to taking a 10-minute walk every day or swapping one unhealthy snack for a healthy option. Small wins build momentum and confidence, making it easier to stick to your plan.

2. Focus on the Bigger Picture

Think about what achieving your resolution will help you accomplish. If your goal is to save money, imagine the vacation you’ve been dreaming of or the financial freedom you’ll gain. Keeping your “why” in mind gives your resolution purpose and makes it easier to stay motivated.

3. Frame Your Goals Positively

Rather than framing your resolution as breaking a bad habit, think in terms of creating a positive goal. For instance, instead of “stop procrastinating,” set a goal to “spend 15 minutes every morning tackling important tasks.” This approach focuses on growth and progress rather than deprivation.

4. Find a Support System

Don’t go it alone! Share your resolutions with friends or family members who can encourage you along the way. Even better, find a buddy with a similar goal so you can hold each other accountable and celebrate progress together.

5. Practice Self-Compassion

Nobody is perfect, and slip-ups are part of the process. When you miss a day or fall short of your goal, be kind to yourself and move forward without guilt. According to Tamara Russell of the British Psychological Society, practicing self-compassion can not only help you stick to your resolutions but also make you more compassionate toward others.

Resolutions are an opportunity to grow, not a test of perfection. By starting small, focusing on the bigger picture, framing your goals positively, enlisting support, and being kind to yourself, you can turn your New Year’s intentions into lasting change. Here’s to making this year your best one yet!

New listings at 10-year high in 2024, but affordability still the elephant in the room in Fraser Valley

SURREY, BC — Bank of Canada interest rate cuts that began mid-year were not enough to ease the affordability crisis for many home buyers in the Fraser Valley in 2024, leading to a decline in annual sales.

The Fraser Valley Real Estate Board reported new listings of 35,698 for the year ended December 31, 2024, a 10-year high and nine per cent above the 10-year average. However, annual sales recorded on the Multiple Listing Service® (MLS®) were the lowest seen in ten years at 14,570, a decline of one per cent over 2023 and 24 per cent below the 10-year average. The City of Surrey accounted for the majority of 2024 sales at 51 per cent, with Langley and Abbotsford accounting for 24 per cent and 15 per cent respectively.

The composite Benchmark home price in the Fraser Valley closed the year at $965,000, down two per cent year-over-year, and down four per cent from its 2024 peak in March.

The Board recorded 994 sales on its MLS® in December, a decline of 13 per cent from November, but 19 per cent above sales from December 2023. 

New listings declined 46 per cent from November to December, from 2,367 to 1,288, contributing to a 23 per cent decline in overall inventory in December. With a sales-to-active listings ratio of 16 per cent in December, the overall market closed out the year in balance. The market is considered balanced when the ratio is between 12 per cent and 20 per cent.

It took longer to sell townhomes and condos in December compared to November. Townhomes spent 36 days on the market, up from 33 days in November, while condos spent 38 days on the market, up from 36 days in the previous month. Single-family homes spent 43 days on the market — no change from November.

The composite Benchmark home price in the Fraser Valley continued to slide for the ninth straight month, down 0.5 per cent compared to November. 

For the latest statistics package click HERE

If you have any questions feel free to reach out. I am here to help: 

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Exciting News for Fraser Valley Homeowners and Buyers: What the Latest Rate Cut Means for You

The Bank of Canada has made a significant move to wrap up the year, announcing its fifth consecutive rate cut. The benchmark rate has been lowered by 50 basis points to 3.25%—the lowest level since October 2022. This decision could have a profound impact on homeowners, buyers, and anyone considering mortgage options in the Fraser Valley.

‘Twas the night before Christmas and all through the house
Not a creature was stirring, not even a mouse

My signs were all out and brochure boxes loaded
The ad copy in and the lock boxes coded.

I just wrote an offer with that 1 perfect buyer
egads it’s so low…they say they won’t go any higher

So I call up my seller with the not so good news
And they agree to meet with me…what have they got to lose

So we sit at the table & I do what I do best
Crunch numbers, talk deadlines and give it a rest

So the sellers agree and get ready to sign
And then they exclaim… “We’ve got an equity line!”

More crunching & digging to find extra money
The sellers are smiling…but this really isn’t funny

3 months on the market with nary a showing
Now I have an offer and not sure how it’s going

And that’s when they ask what I don’t want to hear
“Can you cut your commission?” and they crack open a beer

What I need is a Martini while relaxing by a pool
I reply that “I can’t…it’s a company rule”

So I ring up the buyer right there on the spot
I need to know if they’ll consider a counter or not

To my surprise they speak up, “we’ve got $5000 more”
If its signed tonight we’ll accept it but absolutely no more.

So back to sellers for signatures on the line
They hem & they haw & then finally sign

I email the buyer and get their reply
Accepted as countered, now I’m flying high

The sellers are happy as I walk out the door
It’s just 9pm, I can stop at the store

I pick up some goodies for my own Christmas treat
Head home to chill out and put up my feet.

When I drive up to my house it is such a great sight
All lit up for the holidays with the lights oh so bright

A smile crosses my face as I thought it just might
“Merry Christmas to All and to All a Good Night”!

Shelly Brunette

Top 5 Tips for Selling Your Home During the Holidays

he holiday season from November through January is often considered the worst time to put a home on the market. While the thought of selling your home during the winter months may dampen your holiday spirit, the season does have its advantages: holiday buyers tend to be more serious and competition is less fierce with fewer homes being actively marketed. First, decide if you really need to sell. Really. Once you've committed to the challenge, don your gay apparel and follow these tips…

1. Deck the halls, but don’t go overboard.
   Homes often look their best during the holidays, but sellers should be careful not to overdo it on the decor. Adornments that are too large or too many can crowd your home and distract buyers. Also, avoid offending buyers by opting for general fall and winter decorations rather than items with religious themes.
   

2. Hire a reliable real estate agent.
   That means someone who will work hard for you and won't disappear during Thanksgiving, Christmas or New Year's. Ask your friends and family if they can recommend a listing agent who will go above and beyond to get your home sold. This will ease your stress and give you more time to enjoy the season.
   

3. Seek out motivated buyers.
   Anyone house hunting during the holidays must have a good reason for doing so. Work with your agent to target buyers on a deadline, including people relocating for jobs in your area, investors on tax deadlines, college students and staff, and military personnel, if you live near a military base.
   

4. Price it to sell.
   No matter what time of year, a home that’s priced low for the market will make buyers feel merry. Rather than gradually making small price reductions, many real estate agents advise sellers to slash their prices before putting a home on the market.
   

5. Make curb appeal a top priority.
   When autumn rolls around and the trees start to lose their leaves, maintaining the exterior of your home becomes even more important. Bare trees equal a more exposed home, so touch up the paint, clean the gutters and spruce up the yard. Keep buyers’ safety in mind as well by making sure stairs and walkways are free of snow, ice and leaves.

Fraser Valley home sales returning to seasonal norms in November after October surge.

SURREY, BC — Following a healthy boost in sales in October, Fraser Valley home sales dropped in November as slower seasonal buying trends set in amid balanced market conditions.

  The Fraser Valley Real Estate Board recorded 1,136 sales in November, down 15 per cent from October, but 28 per cent above November 2023 sales.

A decline in new listings chipped away at overall inventory in November, with active listings declining eight per cent to 8,125. Overall inventory, however, remains at a 10-year seasonal high and 30 per cent above November 2023 levels. New listings dropped 26 per cent in November to 2,367, but remain above the 10-year seasonal average and above levels from November 2023. The Fraser Valley remains in a balanced market with a sales-to-active ratio of 14 per cent. The market is considered to be balanced when the ratio is between 12 per cent and 20 per cent.

Across the Fraser Valley in November, the average number of days to sell a single-family detached home was 43, while for a condo it was 36. Townhomes took, on average, 33 days to sell.

  Benchmark prices in the Fraser Valley dipped for the eighth straight month in November, with the composite Benchmark price down 0.2 per cent to $969,500.

For the latest statistics package click HERE

If you have any questions feel free to reach out. I am here to help: 

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Economic Insights from Dr. Sherry Cooper

 Earlier this cycle, there were more job vacancies than people looking for work, so the drop in job openings didn't have a material impact on the economy. But that's no longer the case. September's inflation data confirms that the job market trend is downward.

 Economic growth has been below potential since 2022, and preliminary third-quarter data indicate another slowdown to about 1.3% growth in Q3, well below the BoC's initial forecast. Hiring intentions remain woefully inadequate in the face of staggering population growth.

Thanks to everyone who went to the home show…

We had a great time at the Fall Home Show. Thanks to everyone who came out.

Hope to see you again at the Spring show…

Winterizing Your Home – Inside and Out!

With temperatures falling across many parts of the country, it’s a good time to start thinking of preparing your home for harsh winter conditions like snow and ice.

This process, called winterization, is usually performed in the fall before excessive cold arrives. Maintenance on both the exterior and interior of your home during this time can not only protect the structure from weather-related catastrophes, but it can also save you money by way of lower utility bills.

Click HERE to download the Infographic

Rising home sales a sign of market shift in the Fraser Valley?

SURREY, BC — Home sales in the Fraser Valley increased for the first time in five months following a sizable interest rate cut by the Bank of Canada in October.

The Fraser Valley Real Estate Board recorded 1,330 sales in October, up 35 per cent from September, and 37 per cent year-over-year.

New listings declined in October, down 5 per cent to 3,194, but increased 26 per cent year-over-year. Overall inventory dipped in October to 8,799, down three per cent from September, but up 34 per cent over last year. Rising sales and steady inventory levels have the Fraser Valley in a balanced market with a sales-to-active ratio of 15 per cent. The market is considered to be balanced when the ratio is between 12 per cent and 20 per cent.

Across the Fraser Valley in October, the average number of days to sell a single-family detached home was 34, while for a condo it was 32. Townhomes took, on average, 29 days to sell.

Benchmark prices in the Fraser Valley dipped for the seventh straight month in October, with the composite Benchmark price down 0.7 per cent to $971,700.

For the latest statistics package click HERE

If you have any questions feel free to reach out. I am here to help: 

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The Government of Canada has just announced new mortgage reforms that could reshape the housing landscape...

In a major move that aims to make homeownership more accessible to Canadians, the new reforms introduced include:

WANT TO GO TO THE HOME SHOW?

We will have tickets again for the Fall Home Show happening Oct. 25th-26th at the Vancouver convention center. Samantha from Kleen Design and I will be there Saturday Oct. 26th at noon to meet up and answer any interior design questions you may have. Tickets are limited, so reach out if you would like to attend.

Top 5 Reasons Your House Won’t Sell

Selling your home can be a daunting task that can leave you feeling incredibly overwhelmed. We don’t want you to feel this way, which is why we have created this for you. We sincerely hope that you find this information valuable and see success from it.

• Secret #1 PRICING

• Secret #2 PRESENTATION

• Secret #3 CONDITION

• Secret #4 FINDING THE RIGHT AGENT

• Secret #5 MARKETING

Click this LINK to get the full article

Sluggish sales and rising inventories see Fraser Valley moving toward a buyer’s market.

SURREY, BC — With active inventories hitting levels not seen in 10 years and sales 30 per cent below the 10- year average, Fraser Valley real estate is building towards a buyer’s market if sales continue to lag.

The Fraser Valley Real Estate Board recorded 982 sales in September, down by eight per cent over August and by more than 10 per cent over September 2023. Again, seasonally adjusted sales were the second slowest in a decade in the Fraser Valley.

New listings rose in September, up 21 per cent to 3,352, an increase of 17 per cent year-over-year. Overall inventory increased five per cent from August to September to 9,045, up 39 per cent over last year. The combination of declining sales and rising inventories has helped to create balanced, and in some cases, buyers’, market conditions in the Fraser Valley.

Across the Fraser Valley in September, the average number of days to sell a single-family detached home was 35, while for a condo it was 37. Townhomes took, on average, 30 days to sell.

Benchmark prices in the Fraser Valley dipped again in September, with the composite Benchmark price down 1.4 per cent to $978,800.

If you have any questions feel free to reach out. I am here to help: 

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