Just Sold: 304 501 Cochrane Ave., Coquitlam,Coquitlam West

Large 2 Bed Home

Bright & Open

Price at $548,800

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SMOKING DEAL ALERT! Aggressively priced! "KILLER" location! Fantastic layout! Oh, and ripe for re-development! Have we got your attention yet? Your search ends here. This bright, west facing, top floor 2 bed, 2 bath, 1138sqft home offers stunning vaulted ceilings, laminate floors throughout, open living/dining rooms, kitchen with SS appliances & plenty of cupboard & counter space, in suite storage & a cozy gas F/P. The huge master has pass through closest and 3-piece ensuite and the second bedroom is well sized. Bonus: parking and locker. Located in the heart of Burnaby/Coquitlam boarder, stone’s throw to: transit, Skytrain, shopping, recreation, schools and every amenity you can think of. Act Now! 


Five-year fixed rates to drop to 2.77%, then hold steady: BCREA

Canadian mortgage rates are still falling, but will then level off for at least a year, predicts association.

Five-year discounted mortgage interest rates are still falling and will drop to an average of 2.77 per cent by the end of the year, then hold firm for a full year, according to the B.C. Real Estate Association’s latest forecast.


The average fixed five-year rate in 2019’s third quarter is expected to be 2.86 per cent, which is down from an average of 3.16 per cent in Q2. This is just an average, as some five-year fixed rates are currently available as low as 2.25 per cent.

BCREA said in its forecast that one key reason for declining rate was because “rising trade tensions between the United States and China fed growing fears of a global economic slowdown. Those fears pulled long-term Canadian interest rates low enough to invert the Canadian [bond] yield curve, a frequent — though not infallible — pre cursor to recession. As bond yields fell, the average five-year contract rate offered by Canadian lenders declined to an average of 2.86 per cent, with five-year fixed rates as low as 2.25 per cent currently available.”


The five-year qualifying rate is expected to hold firm at 5.19 per cent, having been reduced from 5.34 per cent earlier this year. Under current rules, this means mortgage applicants will still have to qualify at this rate to pass the B-20 “stress test” (or their contract rate plus two per cent, whichever is higher), despite contract mortgage rates (the amount they will actually pay each month) dropping.

BCREA mortgage rate forecast Sept 2019
Source: BCREA Economics

The Bank of Canada’s overnight rate — which variable mortgages are based on — is expected to hold firm, although the BCREA did not rule out a decline if the Bank decides to follow the U.S. Federal Reserve’s lead.

BCREA mortgage rate forecast BoC overnight Sept 2019
Source: BCREA Economics

Overall, the report’s outlook for the Canadian economy was one of very cautious optimism. “We expect the Canadian economy will post trend growth of about 1.8 per cent in 2020, though significant downside risks remain due to elevated trade tensions and their consequent impact on exports and investment.”

On future interest rate changes, the report authors concluded, “The baseline outlook for the Canadian economy is not signalling the need for further stimulus… Policymakers remain wary of reigniting a build-up in household debt, particularly after imposing policies designed to bring those debt burdens down. We expect the Bank will therefore remain on hold as long as the Bank’s assessment of economic risk does not reach a tipping point.”

Provided by: Joannah Connolly Glacier Media Real Estate


Just Listed: 302 1570 Prairie Ave., Port Coquitlam, Glenwood PQ

Awesome Central Location

Move Right In

Open: Sept. 28 from 1 to 3

Price at $398,800

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Mountain Views! Spacious, open layout. Excellent "walk-ability". Does it get much better? Your search ends here. This 2 bed, 2 bath, 925sqft home has been updated throughout, shows well and is move-in ready. Features: freshly painted from top to bottom, laminate floors throughout, updated kitchen w/newer SS appliances & W/D, stone counters & plenty of cupboard and counter space, excellent room separation, updated 3pc main bath and a stone tiled gas F/P. The large master accommodates king-size bed & has an updated 4pc ensuite. The 2nd bedroom is an excellent size. Bonus: 1 parking, locker & bike room. Location to beat. Close to: transit, shopping, restaurants, schools, recreation and more. Act Now! Open Sat Sep 28 from 1 to 3.


Just Sold: 2502 530 Whiting Way., Coquitlam, Coquitlam West

Amazing Location, brand new high rise build by Onni, GST is already paid. Steps away from Evergreen sky train, Millennium Lines and Lougheed Mall, SFU is within a few minutes driving distance and Coquitlam College is right beside the building. Beautiful corner unit, 9 ft ceilings, kitchen-aid appliance package, excellent view & floor plan. 2 bedrooms with 2 full baths. Outstanding amenities include Club house, guest suite, concierge/security guard, conference room, first class media room, modern fitness center, yoga/dance room, billiards/games facility, entertainment lounge with fully equipped kitchen, beautifully landscaped courtyard & much, much more! Comes with 1 parking & 1 locker! A must see.

Listing Offered by: Team 3000 Realty Ltd.


Exceptional client service & fantastic buyer experience

We are so glad we contacted Hafez when we were ready to look for our next investment property. From the day I have contacted Hafez to the day our offer was accepted; Hafez made us feel like his #1 priority. Hafez has the “It” factor that makes a realtor exceptional. He is dedicated, has excellent attention to detail, impressive research skills, he is friendly, approachable and always available to his clients. We trusted Hafez and his guidance 100%. He is a savvy negotiator, he is personable, he is very knowledgeable and his support during our search, multiple offers and negotiations was invaluable. When you work with Hafez, you know you are working with one of the Best. We look forward to working with Hafez in the future and we will definitely recommend Hafez to others.

M. & D. G.


Canadian home sales edge higher in August

Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were up in August 2019.


  • National home sales rose 1.4% month-over-month (m-o-m) in August.
  • Actual (not seasonally adjusted) activity was up 5% year-over-year (y-o-y).
  • The number of newly listed homes climbed 1.1% m-o-m.
  • The MLS® Home Price Index (HPI) advanced by 0.8% m-o-m and 0.9% y-o-y.
  • The actual (not seasonally adjusted) national average sale price was up 3.9% y-o-y.

Home sales recorded via Canadian MLS® Systems advanced for the sixth consecutive month in August. Transactions are now running almost 17% above the six-year low reached in February 2019, but remain about 10% below highs reached in 2016 and 2017. 

Activity was up in slightly more than half of all local markets, although monthly changes were generally modest across most of the country. Gains were led by a record-setting August in Winnipeg and a further improvement in the Fraser Valley. Moncton posted the biggest monthly decline in sales, returning to more normal levels after having recently jumped to record heights.

Actual (not seasonally adjusted) sales activity was up 5% from where it stood in August 2018. The number of homes that traded hands was up from year-ago levels in most of Canada’s largest urban markets, including the Lower Mainland of British Columbia, Calgary, Winnipeg, the Greater Toronto (GTA), Ottawa and Montreal.

“The mortgage stress-test has eased marginally and that’s helped some potential homebuyers,” said Jason Stephen, CREA’s President, “but the extent to which they’re adjusting to it continues to vary by community and price segment. All real estate is local. Nobody knows that better than a professional REALTOR®, your best source for information and guidance when negotiating the sale or purchase of a home,” said Stephen.

“The recent marginal decline in the benchmark five-year interest rate used to assess homebuyers’ mortgage eligibility, together with lower home prices in some markets, means that some previously sidelined homebuyers have returned,” said Gregory Klump, CREA’s Chief Economist. “Even so, the mortgage stress-test will continue to limit homebuyers’ access to mortgage financing, with the degree to which it further weighs on home sales activity continuing to vary by region.”

The number of newly listed homes rose 1.1% in August. With sales and new supply up by similar magnitudes, the national sales-to-new listings ratio was 60.1%—little changed from July’s reading of 60.0%. The measure has risen above its long-term average (of 53.6%) in recent months, which indicates a tighter balance between supply and demand and a growing potential for price gains.

Considering the degree and duration to which market balance readings are above or below their long-term averages is the best way of gauging whether local housing market conditions favour buyers or sellers. Market balance measures that are within one standard deviation of their long-term average are generally consistent with balanced market conditions.

Based on a comparison of the sales-to-new listings ratio with the long-term average, about three-quarters of all local markets were in balanced market territory in August 2019. Of the remainder, the ratio was above the long-term average in all markets save for some in the Prairie region.

The number of months of inventory is another important measure of the balance between sales and the supply of listings. It represents how long it would take to liquidate current inventories at the current rate of sales activity.

There were 4.6 months of inventory on a national basis at the end of August 2019 – the lowest level since December 2017. This measure of market balance has been increasingly retreating below its long-term average (of 5.3 months).

That said, national measures of market balance continue to mask significant regional variations. The number of months of inventory has swollen far beyond long-term averages in Prairie provinces and Newfoundland & Labrador, giving homebuyers ample choice in these regions. By contrast, the measure is running well below long-term averages in Ontario, Quebec and Maritime provinces, resulting in increased competition among buyers for listings and fertile ground for price gains. Meanwhile, the measure is well centred in balanced market territory in the Lower Mainland of British Columbia, making it likely that prices there will stabilize.

The Aggregate Composite MLS® Home Price Index (MLS® HPI) rose 0.8% m-o-m in August 2019, the largest increase in over 2 years.

Seasonally adjusted MLS® HPI readings in August were up from the previous month in 14 of the 18 markets tracked by the index, marking the biggest dispersion of monthly price gains since last March. 

In recent months, home prices have generally been stabilizing in British Columbia and the Prairies, a measure which had been falling until recently. Meanwhile, price growth has begun to rebound among markets in the Greater Golden Horseshoe (GGH) region amid ongoing price gains in housing markets east of it.

A comparison of home prices to year-ago levels yields considerable variations across the country, with declines in western Canada and price gains in eastern Canada.

The actual (not seasonally adjusted) Aggregate Composite MLS® (HPI) was up 0.9% y-o-y in August 2019. This marks the second consecutive month in which prices climbed above year-ago levels and the largest y-o-y increase since the end of last year.

Home prices in Greater Vancouver (GVA) and the Fraser Valley remain furthest below year-ago levels, (-8.3% and -5.5%, respectively), while Vancouver Island and the Okanagan Valley logged y-o-y increases (3.7% and 1.5% respectively).

Prairie markets posted modest price declines, while y-o-y price growth has re-accelerated ahead of overall consumer price inflation across most of the GGH. Meanwhile, price growth has continued uninterrupted for the last few years in Ottawa, Montreal and Moncton.

All benchmark home categories tracked by the index returned to positive y-o-y territory in August. Two-storey single-family home prices were up most, rising 1.2% y-o-y. One-storey single family home prices rose 0.7% y-o-y, while townhouse/row and apartment unit edged up 0.3% and 0.5%, respectively.

The MLS® HPI provides the best way to gauge price trends, because averages are strongly distorted by changes in the mix of sales activity from one month to the next.

The actual (not seasonally adjusted) national average price for homes sold in August 2019 was around $493,500, up almost 4% from the same month last year.

The national average price is heavily skewed by sales in the GVA and GTA, two of Canada’s most active and expensive housing markets. Excluding these two markets from calculations cuts more than $100,000 from the national average price, trimming it to less than $393,000 and reducing the year-over-year gain to 2.7%.

Provided by: CREA


Just Listed: 304 501 Cochrane Ave., Coquitlam, Coquitlam West

Large 2 Bed Home

Bright & Open

Open: Sept. 21 from 1 to 3

Price at $548,800

Click here for more...

SMOKING DEAL ALERT! Aggressively priced! "KILLER" location! Fantastic layout! Oh, and ripe for re-development! Have we got your attention yet? Your search ends here. This bright, west facing, top floor 2 bed, 2 bath, 1138sqft home offers stunning vaulted ceilings, laminate floors throughout, open living/dining rooms, kitchen with SS appliances & plenty of cupboard & counter space, in suite storage & a cozy gas F/P. The huge master has pass through closest and 3-piece ensuite and the second bedroom is well sized. Bonus: parking and locker. Located in the heart of Burnaby/Coquitlam boarder, stone’s throw to: transit, Skytrain, shopping, recreation, schools and every amenity you can think of. Act Now! OPEN Sat Sep 21 from 1 to 3.


To all my Clients, THANK YOU!!!

A sincere thank you to all my clients that have placed their trust in me to assist them with their real estate needs. I am Proud to be part of the Royal LePage West Real Estate Services team and congrats to my fellow realtors. 


Just Sold: 708 1155 The High St., Coquitlam, North Coquitlam

It sparkles! This Southeast corner unit with views over quiet garden courtyard in ultra desirable M-1 development is worthy of your immediate attention. Bright & airy w/ extra windows & views from every room, this home shows like new! Open concept w/ impressive Cressey kitchen: generous cabinet & granite countertop space, built-in Stainless steel oven, microwave & gas range, plus additional wine fridge. Top of the line! Well designed layout w/ no wasted space. Covered deck will please year round! Superb security conscious building w/ 2 caretakers, 3 elevators, secure underground w/ guest parking and cameras on every floor. Enjoy the Events Room & outdoor garden terrace. Steps to Evergreen Station, Coquitlam Centre, Restaurants & all services! Fantastic walk score! Pet & rentals allowed.

Listing Provided by: One Percent Realty Ltd.


Home sales in every B.C. region to recover in 2020: forecast

Total home transactions across province expected to rise 11 per cent versus 2019, with average sale prices also predicted to increase in every area

Although every region in B.C. is expected to see lower home sales in 2019 than in 2018, sales will more than recover in 2020, according to a September 5 forecast by the British Columbia Real Estate Association (BCREA). 

Overall in 2019, residential transactions across the province are predicted to be five per cent lower, at about 75,000 units, than the 78,505 sales of 2018. Every one of B.C.’s 12 boards is expected to report a year-over-year decline in total sales across 2019, with drops ranging from one to 14 per cent.

However, BCREA forecasted that every board will see considerable sales jumps in 2020, totalling a province-wide increase of nearly 11 per cent to 82,700 homes — which the association said would be just below the 10-year annual average.

“B.C. markets are showing signs of recovery after nearly a year and a half of policy-induced declines,” said Brendon Ogmundson, BCREA’s deputy chief economist. “We expect that recovery to continue into next year, with home sales normalizing around long-term averages.”

Having seen the steepest annual sales declines in 2018, and a forecast drop of 2.2 per cent in 2019, Greater Vancouver is expected to see the biggest recovery in 2020, said BCREA. Home resales in the Greater Vancouver region are predicted to rise 16.3 per cent to 28,500 units — still a far cry from 42,000 sales of 2015, but a marked improvement over both 2018 and 2019.

The optimistic Metro Vancouver forecast follows a September 4 report by the Real Estate Board of Greater Vancouver that the region’s home sales in August rose nearly 16 per cent year over year, following a 23.5 per cent annual jump in July.

BCREA said the Fraser Valley is also expected to outperform the previous two years of home resales, with a forecast rise in 2020 of 12.4 per cent year over year.

Victoria and Vancouver Island, having not seen declines as steep as the Lower Mainland, are expected to see 2020 sales improve by less than the provincial average, at 7.5 and 5.5 per cent respectively.

Average home prices in 2020 are also expected to improve on those achieved in 2019, in every B.C. real estate board jurisdiction — albeit by modest amounts. The overall B.C. average sale price is forecast to rise by 3.3 per cent, with predicted rises ranging from 0.2 per cent in Victoria to four per cent in the B.C. Northern region.

Greater Vancouver sale prices are predicted to be down 5.6 per cent in 2019 to $990K, but are forecast to increase two per cent in 2020 to an average of $1.01 million.

Check out BCREA’s full regional sales and price forecast, below.

Provided by: Joannah Connolly / Glacier Media Real Estate

Photo Provided by: Dan Toulgoet


Just Sold: 312 5438 198 St., Langley, Langley City

Central Location

South Facing

Price at $364,800

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Bright, South facing, spacious, open layout; just a few ways to describe this home. Located in popular Creekside Estates, designed with accessibly in mind, this 2bed, 2bath, 866sqft home is a must see. Features: laminate floors, stainless appliances, granite counters, plenty of cupboard and counter space, breakfast bar, excellent room separation, wide hallways and door ways, plenty of storage space w/large laundry room & a fully covered balcony; perfect for year round BBqs. Benefit from a large master w/pass-through closet, 3pc ensuite w/oversized shower, a well sized 2nd bed & 4pc main bath. All this and 1 parking, & easy access to shopping, recreation, schools & all sorts of amenities. Act Now! 


Metro Vancouver housing market sees summer uptick in sales

Home buyer activity increased to more typical levels in Metro Vancouver* throughout the summer months.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,231 in August 2019, a 15.7 per cent increase from the 1,929 sales recorded in August 2018, and a 12.7 per cent decrease from the 2,557 homes sold in July 2019.

Last month’s sales were 9.2 per cent below the 10-year August sales average.

“Home sales returned to more historically normal levels in July and August compared to what we saw in the first six months of the year,” said REBGV President Ashley Smith.

There were 3,747 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in August 2019. This represents a 3.5 per cent decrease compared to the 3,881 homes listed in August 2018 and an 18.8 per cent decrease compared to July 2019 when 4,613 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 13,396, a 13.3 per cent increase compared to August 2018 (11,824) and a 5.9 per cent decrease compared to July 2019 (14,240).

For all property types, the sales-to-active listings ratio for August 2019 is 16.7 per cent. By property type, the ratio is 12 per cent for detached homes, 18.4 per cent for townhomes, and 21.2 per cent for apartments.

Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

“With more demand from home buyers, the supply of homes listed for sale isn’t accumulating like earlier in the year. These changes are creating more balanced market conditions,” Smith said.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $993,300. This represents an 8.3 per cent decrease over August 2018 and a 0.2 per cent decrease compared to July 2019.

Sales of detached homes in August 2019 reached 706, a 24.5 per cent increase from the 567 detached sales recorded in August 2018. The benchmark price for detached homes is $1,406,700. This represents a 9.8 per cent decrease from August 2018 and a 0.7 per cent decrease compared to July 2019.

Sales of apartment homes reached 1,116 in August 2019, an 8.9 per cent increase compared to the 1,025 sales in August 2018. The benchmark price of an apartment property is $771,000. This represents a 7.4 per cent decrease from August 2018 and a 0.1 per cent increase compared to July 2019.

Attached home sales in August 2019 totalled 409, a 21.4 per cent increase compared to the 337 sales in August 2018. The benchmark price of an attached unit is $654,000. This represents a 7.8 per cent decrease from August 2018, a 0.2 per cent increase compared to July 2019.

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Provided by: REBGV

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.