How We Helped Andrea Buy and Sell a House and a Few Years Later Sell Again

“We’ve had wonderful experiences with Jayson. We used him a few years ago when we were buying and selling and he did both transactions for us. This time, we were just selling a house and everything went so smoothly. It was just ideal, he is so professional. We interviewed him as well as several other people, but all of us chose Jayson. He just presented himself the best and seemed very knowledgeable and willing to work with us. He had a lot of integrity. It worked so well that when we were looking for a realtor again the only person we thought of was Jayson.”

A New Townhouse Development in North Delta

Did you know that there could be 61 new townhomes coming to North Delta? The application process has just begun.

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On the corner of 72 Ave and 112, there are eight lots. Recently, an application was submitted to develop these lots into 61 townhomes.

The application has not been approved yet; it has to be reviewed by the Planning and Advisory Committee. There will be a traffic impact study done, and once that has been completed, it will go to the Advisory Committee for a second and third reading before the application receives its final approval.

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There could be 61 new townhomes coming to North Delta!

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If everything goes according to the city’s timeline, the application should be approved by November or December of next year. I will bring you more information as this process moves forward, but I think it is highly likely that the application will be approved. The plan for these 61 townhomes fits nicely with the city’s plan for growth.

Of course, the immediate concern raised by this application is that 61 townhomes means at least 61 vehicles. If we assume each household has two cars, that equals 120 cars, plus the other 80 already coming down the road. That is a lot of traffic for 72 Ave; there are plans to expand the street in the future, but we’ll see what happens.

As I said, I will continue to update you throughout the process. If you have any questions in the meantime, give me a call or send me an email. I would be happy to help you!

North Delta Market Update: September 2016

We usually see the market pick up every year in September, but that didn’t happen this year. Here’s what has happened instead.

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Before I dive into the numbers today, let me take you back to when we started to see the market shift slightly in June and July. July and August are typically quieter months, and the introduction of a foreign investment tax certainly cooled down the market a little bit. We wanted to wait until after Labor Day to see what that brings. Usually, we see the market pick up every year at this point in time.

First, let’s look at the active listings, new listings, and sales. September has remained a fairly cool month and is a continuation of what we’ve seen this summer.

First, let’s look at the active listing, new listing, and sales graph. Going back to June, we have seen inventory steadily climbing and sales steadily declining. That trend has continued through September. Active listings have risen from 204 to 218 and sales have been steadily declining too. We saw 105 sales in June, 47 sales in July, 30 in August, and 28 in September. It seems like we are bottoming out in terms of sales.

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We are returning to a more normalized market.

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As for our sales-to-active-listing ratio, we were at 95% back in March. We have been steadily declining since. This number was 24% in July, 15% in August, and dropped to 13% at the end of September. A healthy market has a ratio of 15% to 20%, so we are slightly below that. We rarely see ourselves in this type of position, so it will be interesting to see what happens.

Now let’s look at the benchmark price. Back in June, it was $905,000. It dropped slightly to $894,500 in August, and is now at $875,900. We are down 2.2% from last month and 3.3% from the peak of the market. However, the benchmark price is still up by 34.3% from last year.

What does this all mean for you? The hot market with abundant bidding wars is gone. We are returning to a more normalized market that is favoring buyers as opposed to sellers. We will keep watching to see what this trend looks like over the next few months. We usually don’t stay in this type of market for long, so we will keep you updated if anything changes.

If you have any questions, give us a call or send us an email. We look forward to hearing from you.

A Sneak Peek at North Delta's Newest Townhome Development

The city has just approved a new housing development on the corner of 72 Avenue and 116th Street. Here is a closer look at that development.

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There are some big changes happening in the North Delta community. If you’ve ever traveled east on 72nd Avenue as you approach 116th street, you may have noticed a few boarded-up homes on the right-hand side. A development proposal for this area has recently been approved and in the video above, you can see exactly where this development will be constructed.

The five homes on the corner will be replaced with 40 brand-new 3-bedroom townhomes. These townhomes will range from 1,400 square feet to 2,300 square feet, and the entry to the site will actually be off of 116th Street, not 72nd Avenue.

Regardless of the public opinion of the development, it has been approved, and the corporation of Delta has made it clear that they are very much in favor of redevelopment of 72nd Avenue into future townhome development.

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40 3-bedroom townhomes are being built on 72nd Avenue.

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There were 105 people from 75 properties that were opposed to the development; however, after the city conducted their traffic impact study, they concluded that the development of this site won’t necessarily have an impact on peak traffic congestion. Personally, as someone who travels up and down 72nd Avenue, I think that it’s already quite congested and that adding 80 or so vehicles to the area will likely have an impact. That being said, the city is also considering widening 72nd Avenue into a four-lane street.

In any case, these 40 new townhomes coming to the corner of 116th Street and 72nd Avenue mean that the area is starting to develop, so if you have any questions about these townhomes, what is happening in this segment of our community, or anything else related to real estate, please feel free to reach out to me by phone or email. I look forward to speaking with you soon!