14,500-square-foot King Road home is the fourth largest to ever hit the market in Abbotsford

A 14,500-square-foot King Road home is the fourth largest to ever hit the market in Abbotsford

Last month, the province announced that it intends to pass legislation that will ban the building of new mansions over 5,400 square feet on farmland unless the owners can show they will benefit agriculture. Most homes that have been built on agricultural land over the last three years would have been barred under the proposed new rules, which aim to discourage estate homes from gobbling up the region’s precious farmland.

This week, one such estate home – a 14,500-square-foot, six-bedroom, 10-bathroom house on King Road – went up for sale this week. The house is the fourth largest to ever be put up for sale in Abbotsford, according to realtor Jonathan Gelderman. The mansion was built by the owner of an adjacent farm. The home also functions as a bed-and-breakfast and has a ground floor with a commercial-style kitchen and rooms that can host conferences.

The cost of agricultural land in the Lower Mainland, Gelderman said, is that those who farm are either rich or have pooled their resources with extended family.

“To own a farm you have to be wealthy in the valley. You’re not going to get a five- or 10-acre farm, fully operational, without millions of dollars … so people here farming are wealthy and for you to tell a wealthy person they can’t have a nice home is insane,” he said.

Those who aren’t individually wealthy, but have bought land with extended family, are not allowed to build multiple non-modular homes on the Agricultural Land Reserve (ALR). Construction of single, larger houses is the natural result of that policy, Gelderman said.

He said a more effective means to ensure the productive use of ALR land would be to increase the amount of farm income a property owner needs to show in order to qualify for significant tax breaks.

“I know a lot of people – quote, unquote – farming in Abbotsford and the reason they farm – in quotes – is because they want to pay less property tax,” Gelderman said.

That so-called farming, he said, isn’t actually productive.

“If you took that threshold and bumped it up to … something meaningful, then what’s going to happen is, if they’re not actually operating a farm and you have to tax them on the full value of their estate, they’re going to be paying gobs of money.”

The province has said that the proposed changes may not be the end of new rules, and a panel aimed at “revitalizing” the ALR has highlighted the issue. The City of Abbotsford did the same in a letter to the Minister of Agriculture earlier this year. Meanwhile, Gelderman says the value of mansions like that which he is selling on King Road will only increase.

“Homes like this are going to go up [in value] because you can’t build them anymore,” he said. “Right now, people who want a home of this magnitude want to build it themselves. But if the government takes that right away, houses like this are going to jump up.”

Cilck Here to see News Video



Credit: Tyler Olson - Abbotsford News

Gelderman.ca Real Estate Team
RE/MAX Aldercenter Realty

www.gelderman.ca

  

Know someone moving ANYWHERE in the WORLD? Call me today--I know the BEST agents everywhere!!

Serving Abbotsford, Chilliwack, Mission, Langley, Surrey and the WORLD!

Office Phone: 604-743-7653

How to Stage Your Home During the Holidays

How to Stage Your Home During the Holidays

Are you currently up for sale?...or are you planning to list your home before Christmas and all the Holiday Fun?

The holiday season gives most people the feels – “most” being the operative word. It’s important to keep this in mind when selling your home during the festive season. It’s easy to go overboard. (If you’re not sure what we mean, watch the notorious house-lighting scene from National Lampoons Christmas Vacation for a reminder). An open house is a great opportunity to welcome eager homebuyers and show off your home in all its warm, wonderful glory. Here are some tips to stage your home for a sale, while keeping it tasteful.

Light It Up!

First, make sure all the year-round outdoor lights are functioning — winter days are short, so having the walkway and front door lit up for evening viewings is a must. Second, when it comes to seasonal light displays, keep it simple. String white lights to highlight an architectural feature or a fir tree in the front yard… and make sure those light-up reindeer stay in the garage.

Festive Front Door!
Any home stager worth their salt will tell you first impressions are key — and since the front door is often the first thing a potential buyer will see, make it count! Give that dull door a quick holiday makeover by hanging a tasteful wreath or swag. Inside, stage your home with a seasonal arrangement placed in the entryway, to make buyers feel like they’re coming home for the holidays, rather than just touring another open house.

Holiday Flare!

Even though year-round home staging is all about a less-is-more philosophy, when the holidays roll around ramping up your ornament game is a must. But don’t go overboard. A bowl of fragrant pinecones, some strategically placed sprigs of holly, or a bowl of shiny glass baubles should do the trick. Oh, and stay away from overtly religious displays as it might put off some people. Remember, this is about them, not you.

Pretty Palette!
Your eclectic collection of Christmas tree ornaments may hold great sentimental value to you and your family, but they may clash horribly with your home décor and should stay securely packed away. To stage your home for the holiday season, consider your living room’s colour palette and find ornaments that complement it. If the walls are white, opt for a faux white tree, or if the room is decorated in darker tones, consider gold or green holiday accents.

Warm Up!
Stepping out of the biting cold and into a warm, cozy home is one of the few pleasures of wintertime. Enhance the corporeal experience of your potential buyers by making sure the thermostat is turned up a couple of extra degrees. If there’s a fireplace, ensure it’s lit for open houses, showings and staged photos.

Seasonal Fragrance!
Thanks to human physiology, the quickest way to access memories is through the sensation of smell — so stage your home by ensuring buyers are getting a good whiff, from the moment they walk through the door. Simmering apple cider or baking a batch of ginger cookies are good standbys, but take it a step further and sparingly spritz a winter-scented home fragrance throughout and breathe deeply.

It’s possible to enjoy the festivities and stage your home to sell. Now, enjoy creating this seasonal (and sellable) sanctuary.

Click Here to Visit OUR Web Site

Know someone moving ANYWHERE in the WORLD? Call me today--I know the BEST agents everywhere!!

Serving Abbotsford, Chilliwack, Mission, Langley, Surrey and the WORLD!

Office Phone: 604-743-7653

November 2018 Fraser Valley Housing Statistics

Fraser Valley market stays quiet through November

SURREY, BC – Despite November’s market continuing at a slower pace and dropping compared to all-time highs in 2017, sales and inventory levels for the month were on par with historical averages for this time of year.
The Fraser Valley Real Estate Board processed 1,028 sales of all property types on its Multiple Listing Service® (MLS®) in November, a decrease of 41 per cent compared to the 1,743 sales in November of last year, and a 11 per cent decrease compared to sales in October 2018.
Of the 1,028 total sales, 383 were residential detached homes, 241 were townhouses, and 286 were apartments.
“Lessening demand continues to impact our market significantly,” said John Barbisan, President of the Board. “In turn, that has given purchasing power back to buyers who now have more time and more options when it comes to making a decision.”
Active inventory for the Fraser Valley in November finished at 7,355 listings, decreasing 5 per cent month-over-month and increasing 43.4 per cent year-over-year.
A total of 2,077 new listings were received by the Board in November, a 25.2 per cent decrease from that received in October 2018, and a 10.6 per cent decrease compared to November 2017.
“The market is shifting, albeit slowly. But while buyers are enjoying a more comfortable real estate environment, sellers will have to pay attention to how these changes will affect their chances at success.”
“Work with a local REALTOR® who can help you put your home in the best position to move. There are always ways to elevate your home’s appeal and potential to sell, even when the market is slower.”

HPI® Benchmark Price Activity
• Single Family Detached: At $976,200, the Benchmark price for a single family detached home in the Fraser Valley decreased 1.1 per cent compared to October 2018 and did not change compared to November 2017.
• Townhomes: At $532,800, the Benchmark price for a townhome in the Fraser Valley in the Fraser Valley decreased 1 per cent compared to October 2018 and increased 5.4 per cent compared to November 2017.
• Apartments: At $422,500, the Benchmark price for apartments/condos in the Fraser Valley decreased 2.4 per cent compared to October 2018 and increased 12.2 per cent compared to November 2017.

Full Statistic Package: http://www.fvreb.bc.ca/statistics/Package201811.pdf

Gelderman.ca Real Estate Team
RE/MAX Aldercenter Realty

www.gelderman.ca

Know someone moving ANYWHERE in the WORLD? Call me today--I know the BEST agents everywhere!!

Serving Abbotsford, Chilliwack, Mission, Langley, Surrey and the WORLD!

Office Phone: 604-743-7653

October 2018 Housing Statistics - Fraser Valley

October brings slight bump to sales for Fraser Valley

SURREY, BC – The Fraser Valley housing market saw slight increases in both total transactions and overall inventory this month after sales hit their lowest point for the year in September.
The Fraser Valley Real Estate Board processed 1,155 sales of all property types on its Multiple Listing Service® (MLS®) in October, a decrease of 35.8 per cent compared to the 1,779 sales in October of last year, and a 11.6 per cent increase compared to sales in September 2018.
Of the 1,155 sales, 438 were residential detached homes, 306 were townhouses, and 292 were apartments.

“While slight, this is the first time since May that sales here have been on the upswing.” said John Barbisan, President of the Board. “We’re beneath typical activity levels for this time of year but it’s good to see that buyers and sellers are still finding success this season.”
Active inventory for the Fraser Valley in October finished at 7,746 listings, increasing 1.3 per cent month-over-month and 41.3 per cent year-over-year.

A total of 2,776 new listings were received by the Board in October, a 5.8 per cent decrease from that received in September 2018, and a 12 per cent increase compared to October 2017.
“We’re in a much better spot in terms of overall inventory compared to this time last year, and now closer to a more balanced market. Attached inventory in particular has seen notable gains, doubling year-over-year for townhouses and nearly tripling for apartments.”

For the Fraser Valley region, the average number of days to sell both an apartment and townhouse in October was 31. Single family detached homes remained on the market for an average of 39 days before selling.

HPI® Benchmark Price Activity

• Single Family Detached: At $986,700, the Benchmark price for a single family detached home in the Fraser Valley decreased 0.2 per cent compared to September 2018 and increased 1.1 per cent compared to October 2017.
• Townhomes: At $538,400, the Benchmark price for a townhome in the Fraser Valley in the Fraser Valley decreased 1.4 per cent compared to September 2018 and increased 7.1 per cent compared to October 2017.
• Apartments: At $432,800, the Benchmark price for apartments/condos in the Fraser Valley decreased 1.3 per cent compared to September 2018 and increased 17.2 per cent compared to October 2017.

Full Package: http://www.fvreb.bc.ca/statistics/Package201810.pdf

Gelderman.ca Real Estate Team
RE/MAX Aldercenter Realty

Click Here to visit our Web Site

Know someone moving ANYWHERE in the WORLD? Call me today--I know the BEST agents everywhere!!

Serving Abbotsford, Chilliwack, Mission, Langley, Surrey and the WORLD!

Office: 604-743-7653

Fraser Valley Real Estate September Statistics

Housing supply ample as buyers remain hesitant in September

SURREY, BC – The slowing of sales activity and expansion of overall inventory that has defined much of 2018 for the Fraser Valley housing market continued in September, with sales at their lowest point and inventory at its highest for the year.

The Fraser Valley Real Estate Board processed 1,035 sales of all property types on its Multiple Listing Service® (MLS®) in September, a decrease of 36.1 per cent compared to the 1,619 sales in September of last year, and a 10.4 per cent decrease compared to sales in August 2018.

Of those 1,035 sales, 376 were residential detached homes, 250 were townhouses, and 274 were apartments. This was the lowest number of transactions in a month this year for each category.

“Buyers remain reluctant as the market continues to adjust,” said John Barbisan, President of the Board. “We’re seeing good things happening in terms of inventory, but it only opens the door so much while prices are moving at a much slower rate.”

Active inventory for the Fraser Valley in September finished at 7,647 listings, increasing 4.2 per cent month-over-month and 30.6 per cent year-over-year. This is the highest level of supply for the Fraser Valley since July 2015.

A total of 2,946 new listings were received by the Board in September, a 14.4 per cent increase from that received in August 2018, and a 3.4 per cent increase compared to September 2017’s intake.

“If you want to sell soon, the most important thing you can do to be successful is to price effectively. Talk to your REALTOR® who can help you understand what buyers are looking for in your local market.”


For the Fraser Valley region, the average number of days to sell an apartment in September was 33, and 32 for townhomes. Single-family detached homes remained on the market for an average of 39 days before selling.

HPI® Benchmark Price Activity

• Single Family Detached: At $988,900, the Benchmark price for a single-family detached home in the Fraser Valley decreased 2 per cent compared to August 2018 and increased 1.1 per cent compared to September 2017.

• Townhomes: At $546,100, the Benchmark price for a townhome in the Fraser Valley in the Fraser Valley decreased 0.4 per cent compared to August 2018 and increased 9.5 per cent compared to September 2017.

• Apartments: At $438,700, the Benchmark price for apartments/condos in the Fraser Valley decreased 1 per cent compared to August 2018 and increased 22.5 per cent compared to September 2017.

For the full statistics package please visit: http://www.fvreb.bc.ca/statistics/Package201809.pdf

Gelderman.ca Real Estate Team
RE/MAX Aldercenter Realty

Visit Our Team Web Site HERE

Know someone moving ANYWHERE in the WORLD? Call me today--I know the BEST agents everywhere!!

Serving Abbotsford, Chilliwack, Mission, Langley, Surrey and the WORLD!

Office: 604-743-7653