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Just Listed: 313 295 Schoolhouse St., Coquitlam, Maillardville

First Time Buyers

Functional Layout

Priced at $390,000

Open: May 5 from 2 to 4

 

Click here for more details....

 

A location that can't be beat. Tastefully updated throughout. Desirable building. What more could you ask for? Cute 1 bed, 1 bath, 692sqft home shows well; you won't be disappointed. Features: NE facing covered balcony looking onto green space for extra privacy, open efficient floor plan, laminate floors, stainless appliances, modern paint colors, plenty of cupboard & counter space, laundry w/extra storage & cozy gas fireplace. Spacious master offers large walk-through closets w/organizers & 4 piece cheater ensuite. Walking distance to transit, all types of shops & restaurants, close to recreation & a short ride to Lougheed or Braid Skytrain. Bonus: 1 parking, locker & pet friendly. Act Now! OPEN Sat. May 5 from 2 to 4.







 

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Home sales down, listings up across Metro Vancouver

The Metro Vancouver* housing market saw fewer home buyers and more home sellers in April.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,579 in April 2018, a 27.4 per cent decrease from the 3,553 sales recorded in April 2017, and a 2.5 per cent increase compared to March 2018 when 2,517 homes sold. 


Last month’s sales were 22.5 per cent below the 10-year April sales average. “Market conditions are  changing. Home sales declined in our region last month to a 17-year April low and home sellers have become more active than we’ve seen in the past three years,” Phil Moore, REBGV president said. “The mortgage requirements that the federal government implemented this year have, among other factors, diminished home buyers’ purchasing power and they’re being felt on the buyer side today.” 


There were 5,820 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in April 2018. This represents an 18.6 per cent increase compared to the 4,907 homes listed in April 2017 and a 30.8 per cent increase compared to March 2018 when 4,450 homes were listed. 

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 9,822, a 25.7 per cent increase compared to April 2017 (7,813) and a 17.2 per cent increase compared to March 2018 (8,380). 

“Home buyers have more breathing room this spring. They have more selection to choose from and less demand to compete against,” Moore said. 


For all property types, the sales-to-active listings ratio for April 2018 is 26.3 per cent. By property type, the ratio is 14.1 per cent for detached homes, 36.1 per cent for townhomes, and 46.7 per cent for condominiums. Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months. 


The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,092,000. This represents a 14.3 per cent increase over April 2017 and a 0.7 per cent increase compared to March 2018. 


Sales of detached properties in April 2018 reached 807, a 33.4 per cent decrease from the 1,211 detached sales recorded in April 2017. The benchmark price for detached properties is $1,605,800. This represents a 5.1 per cent increase from April 2017 and a 0.2 per cent decrease compared to March 2018.


Sales of apartment properties reached 1,308 in April 2018, a 24 per cent decrease from the 1,722 sales in April 2017. The benchmark price of an apartment property is $701,000. This represents a 23.7 per cent increase from April 2017 and a 1.1 per cent increase compared to March 2018. 


Attached property sales in April 2018 totalled 464, a 25.2 per cent decrease compared to the 620 sales in April 2017. The benchmark price of an attached unit is $854,200. This represents a 17.7 per cent increase from April 2017 and a 2.3 per cent increase compared to March 2018. 


Editor’s Note: Areas covered by the Real Estate Board of Greater Vancouver include: Whistler, Sunshine Coast, Squamish, West Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richmond, Port Moody, Port Coquitlam, Coquitlam, Pitt Meadows, Maple Ridge, and South Delta.
The real estate industry is a key economic driver in British Columbia. In 2017, 35,993 homes changed ownership in the Board’s area, generating $2.4 billion in economic spin-off activity and an estimated 17,600 jobs. The total dollar value of residential sales transacted through the MLS® system in Greater Vancouver totalled $37 billion in 2017. The Real Estate Board of Greater Vancouver is an association representing more than 14,000 REALTORS® and their companies. The Board provides a variety of member services, including the Multiple Listing Service®. For more information on real estate, statistics, and buying or selling a home, contact a local REALTOR® or visit
www.rebgv.org.

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Just Sold: 206 3280 Plateau Blvd., Coquitlam, Westwood Plateau

Gorgeous Home

Exceptional Layout and Size

Priced at $658,800


Click here for more details....

 

Absolutely Stunning! Looking for a spacious home? Tired of the traditional condo layouts? Then look no further. This 1431sqft/2bed/2bath home will not disappoint. Located in prestigious Camel Back of Westwood Plateau. Features: vaulted ceilings in living rm & master, coved dinning rm ceiling, crown moldings, 270-degree views from expansive windows offering tons of natural light & mountain views, new vinyl flooring, spacious kitchen w/new SS apps & plenty of cupboard & counter space, 2 balconies, cozy gas F/P & more. Enjoy a spacious master with walk-through closet, 5 pc ensuite w/steam shower & a large 2nd bed & 4pc main bath. Benefit from: laundry w/storage, 2 parking spaces & locker. Act Now! 

 

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Canada’s housing market overall remains highly vulnerable for the seventh consecutive quarter mainly due to evidence of overvaluation and price acceleration observed in Census Metropolitan Areas such as Toronto, Vancouver, Victoria, and Hamilton, according to Canada Mortgage and Housing Corporation (CMHC).


On a quarterly basis, CMHC issues its Housing Market Assessment (HMA) to provide Canadians with both expert and impartial insight and analysis, based on the best data available in Canada. This report acts as an “early warning system” for the country’s housing markets — an important tool supporting financial and housing market stability.


Results are based on data as of the end of December 2017 and market intelligence as of the end of March 2018.

Report highlights:

  • A high degree of vulnerability is maintained in Toronto. Price declines in single-detached homes have been more pronounced during the fourth quarter of 2017, but market conditions for condominium apartments have tightened, resulting in stronger price gains. Low evidence of overbuilding remained, as inventories declined across all housing types.
  • Vancouver’s housing market remained highly vulnerable. Rising prices for homes in the sub-$1 million market segment, coupled with rising mortgage rates, have eroded overall affordability further in the fourth quarter of 2017.
  • In Victoria there is strong evidence of overvaluation as house prices remained elevated over local incomes. Evidence of overbuilding remains weak, however the inventory of completed and unsold units relative to population is trending up from a recent low point.
  • The Hamilton housing market remains highly vulnerable, although the degree of overvaluation lessened as house prices became more aligned with personal disposable income, population growth and employment.
  • Montreal still shows a low degree of vulnerability, but the growth rate in house prices has increased. If this increase continues, the level of price acceleration could be raised to moderate in a future HMA.
  • Strong evidence of overbuilding is still observed in Calgary, Edmonton, Saskatoon and Regina due to high inventories of new and unsold homes as well as high rental vacancy rates. Only in Saskatoon and Regina does this trend seem to be unwinding, as the inventory of completed and unsold units shifted lower in the fourth quarter.
  • Low vulnerability is detected for housing markets in Winnipeg and in Atlantic Canada.

CMHC defines vulnerability as imbalances in the housing market. Imbalances occur when overbuilding, overvaluation, overheating and price acceleration — or combinations thereof — depart significantly from historical averages.


As Canada’s authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and information to Canadian governments, consumers and the housing industry.

 

Backgrounder:

CMHC’s HMA analytical framework is designed to evaluate the extent to which there are vulnerabilities in Canadian housing markets. The framework assesses housing market conditions and considers the incidence, intensity and persistence of four main factors:

  • Overheating of demand in the housing market, wherein sales significantly outpace new listings.
  • Acceleration in house prices, which could be partially reflective of speculative activity.
  • Overvaluation in the level of house prices, which indicates that house price levels are not fully supported by fundamental drivers such as income, mortgage rates and population.
  • Overbuilding of the housing market, when the rental market vacancy rate and/or the inventory of newly built housing units that are unsold is elevated.

Each of these factors is measured using one or more indicators of housing demand, supply and/or price conditions. The table below outlines the results from the previous release in January 2018 and the current April 2018 release.

Comparisons between the October 2017 and January 2018 reports
 OverheatingPrice AccelerationOvervaluationOverbuildingOverall Assessment
  Jan. 2018Apr. 2018Jan. 2018Apr. 2018Jan. 2018Apr. 2018Jan. 2018Apr. 2018Jan. 2018Apr. 2018
Canada Weak Weak Moderate Moderate Moderate Moderate Weak Weak Strong Strong
Victoria Moderate Moderate Moderate Moderate Strong Strong Weak Weak Strong Strong
Vancouver Moderate Moderate Moderate Moderate Strong Strong Weak Weak Strong Strong
Edmonton Weak Weak Weak Weak Weak Weak Strong Strong Moderate Moderate
Calgary Weak Weak Weak Weak Weak Weak Strong Strong Moderate Moderate
Saskatoon Weak Weak Weak Weak Weak Weak Strong Strong Moderate Moderate
Regina Weak Weak Weak Weak Weak Weak Strong Strong Moderate Moderate
Winnipeg Weak Weak Weak Weak Weak Weak Weak Weak Weak Weak
Hamilton Moderate Moderate Moderate Moderate Strong Moderate Weak Weak Strong Strong
Toronto Moderate Moderate Moderate Moderate Strong Strong Weak Weak Strong Strong
Ottawa Weak Weak Weak Weak Weak Weak Weak Weak Weak Weak
Montréal Weak Weak Weak Weak Weak Weak Weak Weak Weak Weak
Québec Weak Weak Weak Weak Weak Weak Weak Weak Weak Weak
Moncton Weak Weak Weak Weak Weak Weak Weak Weak Weak Weak
Halifax Weak Weak Weak Weak Weak Weak Weak Weak Weak Weak
St. John’s Weak Weak Weak Weak Weak Weak Moderate Moderate Weak Weak


Note: The HMA detects the presence or incidence of market imbalances when indictors are above thresholds. It also measures the intensity of signals by how much indicators are above thresholds, and the persistence of signals by how long signals stand above thresholds. Generally, low intensity and persistence are associated with a lower vulnerability. As the number of persistent signals increases, the evidence of imbalances increases.

 
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Just Listed: 109 20078 Fraser Hwy., Langley, Langley City

Large Patio

Thoughtful Layout

Priced at $358,800

Open House

Sat & Sun Apr 28 & 29 from 2 to 4


Click here for more details....

 

Completely updated. Large 127sqft patio. This stunning 1bed/1bath/586sqft home located in the popular Varsity complex in Langley City will not disappoint. Built by awarding winning Redekop Kroeker, quality workmanship & finishing can be seen throughout. Upgrades: wide plank vinyl water resistant flooring, gorgeous haring bone back-splash, bedroom carpets, baseboards, designer paints, light fixtures, toilet, vanity & bathroom sink. Features: efficient layout, plenty of natural light, over-height ceilings, SS apps, gas stove & more. Enjoy the spacious master w/walk-through closet & cheater ensuite. Relax on the private partial covered patio complete w/gas hook-up. Rental & pet friendly! Act Now! OPEN HOUSE Sat/Sun Apr 28/29 from 2 to 4.


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Vancouver’s empty homes tax will collect an estimated $30 million in its inaugural year.

 

Mayor Gregor Robertson shared preliminary results for the city’s empty homes tax on Monday morning in a news briefing outside Vancouver City Hall.

 

The revenue collected this year will cover the implementation of the new tax, with net proceeds reinvested into affordable housing, the mayor said.

 

The median amount of tax paid was $9,900, though taxed amounts varied from $1,500 up to more than $250,000.

Of the $30 million taxed, about $17 million has already been collected.

 

The city had previously extended its deadline for homeowners to declare the status of their properties prior to launching an audit program.

 

Early results in March showed that more than 2,000 residential properties went undeclared, had been deemed unoccupied and were slated to be taxed under Vancouver’s empty homes tax, which is 1 per cent of the home’s assessed taxable value.

 

Provided By: Stephanie IP for The Province

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The Bank of Canada today maintained its target for the overnight rate at 1¼ per cent. The Bank Rate is correspondingly 1½ per cent and the deposit rate is 1 per cent.


Inflation in Canada is close to 2 per cent as temporary factors that have been weighing on inflation have largely dissipated, as expected. Consistent with an economy operating with little slack, core measures of inflation have continued to edge up and are all now close to 2 per cent. The transitory impact of higher gasoline prices and recent minimum wage increases will likely cause inflation in 2018 to be modestly higher than the Bank expected in its January Monetary Policy Report (MPR), returning to the 2 per cent target for the rest of the projection horizon.


The global economy is on a modestly stronger track than forecast in January, with upward revisions to growth and potential output in a number of major advanced economies. The outlook for the U.S. economy has been further boosted by new government spending plans. However, escalating geopolitical and trade conflicts risk undermining the global expansion.


In Canada, GDP growth in the first quarter was weaker than the Bank had expected, but should rebound in the second quarter, resulting in 2 per cent average growth in the first half of 2018. The economy is projected to operate slightly above its potential over the next three years, with real GDP growth of about 2 per cent in both 2018 and 2019, and 1.8 per cent in 2020. This stronger profile for GDP incorporates new provincial and federal fiscal measures announced since January. It also reflects upward revisions to estimates of potential output growth, which suggest the Canadian economy has made some progress in building capacity.


Slower economic growth in the first quarter primarily reflects weakness in two areas. Housing markets responded to new mortgage guidelines and other policy measures by pulling forward transactions to late 2017. Exports also faltered, partly owing to transportation bottlenecks. Some of the weakness in housing and exports is expected to be unwound as 2018 progresses.


The Bank anticipates that Canadian exports will strengthen as foreign demand increases, but not sufficiently to recover the ground lost during recent quarters. Export growth is being increasingly limited by capacity constraints in some sectors. Continued gains in business investment should build additional capacity in those sectors and in the economy more generally. However, both exports and investment are being held back by ongoing competitiveness challenges and uncertainty about trade policies.


Growth in consumption remains robust, supported by strong labour income growth. Wages have continued to pick up as expected, even after factoring out recent minimum wage increases in Ontario and Alberta. The Bank will continue to assess labour market data for signs of remaining slack.


Some progress has been made on the key issues being watched closely by Governing Council, particularly the dynamics of inflation and wage growth. This progress reinforces Governing Council’s view that higher interest rates will be warranted over time, although some monetary policy accommodation will still be needed to keep inflation on target. The Bank will also continue to monitor the economy’s sensitivity to interest rate movements and the evolution of economic capacity. In this context, Governing Council will remain cautious with respect to future policy adjustments, guided by incoming data.


The next scheduled date for announcing the overnight rate target is May 30, 2018. 

 

Provided By: Bank Of Canada

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Fewer home sales and listings in the first quarter of 2018

Home buyers and sellers were less active in Metro Vancouver* throughout the first quarter of 2018. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,517 in March 2018, a 29.7 per cent decrease from the 3,579 sales recorded in March 2017, and a 14 per cent increase compared to February 2018 when 2,207 homes sold.

 

Last month’s sales were 23 per cent below the 10-year March sales average. There were 6,542 home sales on the Multiple Listing Service® (MLS®) in Metro Vancouver during the first quarter of 2018, a 13.1 per cent decrease from the 7,527 sales over the same period last year. This represents the region’s lowest first-quarter sales total since 2013. 

 

“We saw less demand from buyers and fewer homes listed for sale in our region in the first quarter of the year,” Phil Moore, REBGV president said. “High prices, new tax announcements, rising interest rates, and stricter mortgage requirements are among the factors affecting home buyer and seller activity today.

There were 4,450 detached, attached and apartment properties newly listed for sale in Metro Vancouver in March 2018. This represents a 6.6 per cent decrease compared to the 4,762 homes listed in March 2017 and a 5.4 per cent increase compared to February 2018 when 4,223 homes were listed.

 

There were 12,469 homes listed for sale in Metro Vancouver during the first quarter of 2018, a 0.8 per cent decrease from the 12,568 sales over the same period last year. This represents the region’s lowest first-quarter new listings total since 2013. 

 

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 8,380, a 10.5 per cent increase compared to March 2017 (7,586) and a 7.1 per cent increase compared to February 2018 (7,822).

 

“Even with lower demand, upward pressure on prices will continue as long as the supply of homes for sale remains low,” Moore said. “Last month was the quietest March for new home listings since 2009 and the total inventory, particularly in the condo and townhome segments, of homes for sale remains well below historical norms.”

 

For all property types, the sales-to-active listings ratio for March 2018 is 30 per cent. By property type, the ratio is 14.2 per cent for detached homes, 39.9 per cent for townhomes, and 61.6 per cent for condominiums. Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months. 

 

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,084,000. This represents a 16.1 per cent increase over March 2017 and a 1.1 per cent increase compared to February 2018. 

 

Sales of detached properties in March 2018 reached 722, a decrease of 37 per cent from the 1,150 detached sales recorded in March 2017. The benchmark price for detached properties is $1,608,500. This represents a 7.4 per cent increase from March 2017 and a 0.4 per cent increase compared to February 2018.

 

Sales of apartment properties reached 1,349 in March 2018, a decrease of 26.7 per cent compared to the 1,841 sales in March 2017. The benchmark price of an apartment property is $693,500. This represents a 26.2 per cent increase from March 2017 and a 1.6 per cent increase compared to February 2018.

 

Attached property sales in March 2018 totalled 446, a decrease of 24.1 per cent compared to the 588 sales in March 2017. The benchmark price of an attached unit is $835,300. This represents a 17.7 per cent increase from March 2017 and a two per cent increase compared to February 2018.


*Editor’s Note: Areas covered by the Real Estate Board of Greater Vancouver include: Whistler, Sunshine Coast, Squamish, West Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richmond, Port Moody, Port Coquitlam, Coquitlam, Pitt Meadows, Maple Ridge, and South Delta. 

The real estate industry is a key economic driver in British Columbia. In 2017, 35,993 homes changed ownership in the Board’s area, generating $2.4 billion in economic spin-off activity and an estimated 17,600 jobs. The total dollar value of residential sales transacted through the MLS® system in Greater Vancouver totalled $37 billion in 2017. 

The Real Estate Board of Greater Vancouver is an association representing more than 14,000 REALTORS® and their companies. The Board provides a variety of member services, including the Multiple Listing Service®. For more information on real estate, statistics, and buying or selling a home, contact a local REALTOR® or visit www.rebgv.org.

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Policy Induced Demand Slide Does Little to Impact Supply

Vancouver, BC – April 12, 2018. The British Columbia Real Estate Association (BCREA) reports that a total of 7,409 residential unit sales were recorded by the Multiple Listing Service® (MLS®) across the province in March, a 24.6 per cent decrease from the same month last year. The average MLS® residential price in BC was $726,930, up 5.3 per cent from the previous year. Total sales dollar volume was $5.39 billion, a 20.6 per cent decline from March 2017.

“More burdensome mortgage qualifications are having the predictable effect of swiftly curbing housing demand,” said Cameron Muir, BCREA Chief Economist. “You simply cannot pull as much as 20 per cent of the purchasing power away from conventional mortgage borrowers and not create a downturn in consumer demand.”

Despite the decline in consumer demand, the supply of homes for sale remains low in most BC regions. Total active listings on the market are essentially unchanged from March 2017, and are at or near a 12-year low across the province. As a result, home prices are expected to continue an upward trajectory. Year-to-date, BC residential sales dollar volume was down 1.7 per cent to $13.9 billion, compared with the same period in 2017. Residential unit sales decreased 9.4 per cent to 18,927 units, while the average MLS® residential price was up 8.5 per cent to $732,243.

 

BCREA is the professional association for about 23,000 REALTORS® in BC, focusing on provincial issues that impact real estate. Working with the province’s 11 real estate boards, BCREA provides continuing professional education, advocacy, economic research and standard forms to help REALTORS® provide value for their clients.

To demonstrate the profession’s commitment to improving Quality of Life in BC communities, BCREA supports policies that help ensure economic vitality, provide housing opportunities, preserve the environment, protect property owners and build better communities with good schools and safe neighbourhoods.

For detailed statistical information, contact your local real estate board. MLS® is a cooperative marketing system used only by Canada’s real estate boards to ensure maximum exposure of properties listed for sale

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Just Listed: 303 1155 The High St. North Coquitlam, Coquitalm

Stunning 2 Level Home
1000+sqft of Outdoor Space
Priced at $974,800
Open: Apr 15 from 2 to 4

 

http://www.hafezrealty.com/mylistings.html/listing.r2255611-1155-the-high-street-coquitlam-v3b-7w4.74396618

 

Luxurious living! Perfect for downsizer or someone looking for a spacious home. Located in
concrete built M One of North Coquitlam, close to all amenities, Skytrain, all lvls of schools &
much more. Don't miss this one! Quality shows through this 1332sqft/2bed+den/3bath/2lvl/3rd
story townhome style condo w/1000+sqft of outdoor living oasis. Main: tons of natural light,
gourmet kitchen w/high end apps, island, granite counters, plenty of storage, 2pc pwdr, living,
dinning & family rms & 4 entries to patio. Up: master w/large fully organized closet, 3pc bath &
balcony. 2nd bed has custom Murphy bed, den w/built shelving, 4pc bath & full-size W/D
complete this lvl. Bonus: 2 parking & 5 lockers. Act Now!

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Just Sold: 27 1225 Brunette Ave, Coquitlam, Maillardville

Place Fountaine Bleu - PROFESSIONALLY managed strata in a fantastic CENTRAL Maillardville location! This LARGE 2 bedroom / 2.5 bathroom townhome has been extremely well kept. Updated KITCHEN, Bathrooms and FLOORING. Close to SCHOOLS, shopping, BUS, parks, recreation facilities, SKYTRAIN and Hwy 1. Walking distance to Silvercity movie theatre, Superstore, IKEA, restaurants, Place des Arts and Mackin Park! Secured UNDERGROUND parking.

 

http://www.hafezrealty.com/mylistings.html/listing.r2250938-27-1225-brunette-avenue-coquitlam-v3k-6w2.74406433

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Just Listed: 206 3280 Plateau Blvd, Westwood Plateau, Coquitlam

Gorgeous Home

Exceptional Layout and Size

Priced at $658,800

Open: Apr 14 from 2 to 4

 

Click here for more details.....

 

Absolutely Stunning! Looking for a spacious home? Tired of the traditional condo layouts? Then look no further. This 1431sqft/2bed/2bath home will not disappoint. Located in prestigious Camel Back of Westwood Plateau. Features: vaulted ceilings in living rm & master, coved dinning rm ceiling, crown moldings, 270-degree views from expansive windows offering tons of natural light & mountain views, new vinyl flooring, spacious kitchen w/new SS apps & plenty of cupboard & counter space, 2 balconies, cozy gas F/P & more. Enjoy a spacious master with walk-through closet, 5 pc ensuite w/steam shower & a large 2nd bed & 4pc main bath. Benefit from: laundry w/storage, 2 parking spaces & locker

 

 

 

 

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Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.