Garibaldi Lane Condos in Abbotsford

Construction of Garibaldi Lane condos in Abbotsford is almost complete and apartment units are now being offered for sale in this brand new complex. Call "The Condo Seller" for more info.

Abbotsford home prices to rise.

The British Columbia Real Estate Association (BCREA) released its first semi-annual Housing Forecast report yesterday. MLS residential sales are forecasted to dip 3 per cent to 93,600 units in the province in 2007, and a further 4 per cent to 89,500 units in 2008. The ten-year average is 77,811 units. The supply of active listings in the province increased 27 per cent to 32,879 units in March compared to the same month last year. The average MLS residential price in the province climbed 18 per cent to $390,963 in 2006. This year, the average MLS residential price is forecast increase a more modest 8 per cent to $422,000, and a further 7 per cent to $450,000 in 2008. BC housing starts are forecasted to decline 7 per cent to 33,900 units in this year and a further 6 per cent to 32,000 units in 2008. Abbotsford should enjoy strong growth in real estate prices as our new hospital opens, airport expands and city builds the Plan-A projects.

Getting a mortgage gets easier

Getting a mortgage in Canada just got easier and a little cheaper and is expected to have a +ve impact on the housing market. Abbotsford home prices will remain strong as more people will be able to purchase a home. Ottawa is reducing the cost of home buying by raising the threshold for compulsory mortgage insurance. An amendment to the Bank Act allows borrowers to access conventional mortgage financing with a 20% down payment. Previously, home buyers were required to make a down payment of at least 25% or they had to pay mortgage default insurance premiums. Bill C-37 raises the loan-to-value ratio requiring mortgage insurance from the current 75 per cent to 80 per cent. High-ratio mortgage insurance will still be required for mortgages greater than 80 per cent of the home’s value. Homebuyers could save an estimated average of $2,500 in insurance premiums, based on an average home price of $300,000. The new limit also affects individuals who intend to refinance their mortgages. In addition to insurance savings, the change will also make it easier to obtain a larger mortgage than previously possible under similar circumstances for a borrower. For refinancing at 80 per cent, there is an extra five per cent equity available to the borrowers for their financing needs.

Contact us at 604.614.9294 for more information on buying or selling a home or condo in Abbotsford or Click here to contact us online.

Eagle Mountain ready for next phase

Over 40 single family building lots are ready to be released in the next phase on Eagle mountain. Located above Abbotsford on the eastside, this luxury community has been well planned to provide every modern convenience while preserving the lush hillside beauty. "Street of Dreams" homes were built on Eagle Mountain in 2002. Only "qualified" home builders are allowed to construct homes in this 220 acre development. General public can hire an approved builder to have their home custom built. All builders must follow the strict architectural and design guidelines to build new homes. Many pre-owned homes are available for sale on Eagle Mountain. If you are looking to buy or sell a home on Eagle Mountain please contact us at 604.614.9294

Tempo Condos in Abbotsford

First phase of Tempo ( condos on 1951 McCallum Rd Abbotsford) is nearing completion. Tempo has 1 and 2 bedroom units with open floor plans. Tempo condos are being developed by Newgen Realestate Developments Inc. New home warranty will be provided by St.Paul Guarantee. Newgen set a new record in Abbotsford in May 2006 when they sold 116 units in Tempo in a single day. The buying frenzy was fueled by offers of monthly mortgage payments averaging 20 per cent below local rents. Many condos went to first-time buyers or parents purchasing a condo for young adult children. Newgen Developments was offering monthly payments for the first two years starting at $399 for one-bedroom and $699 for two- bedroom condominiums based on a 15 per cent down payment. If you are thinking of selling or buying a condo in Abbotsford visit "The Condo Seller" online. View a list of all Abbotsford condo buildings here.

UPTOWN - Abbotsford condos

Uptown is the newly converted condo complex on George Ferguson way in Abbotsford. There are 72 condominium units available in Up town. You can buy 1 or 2 bedroom apartment and choose from 10 different floor plans. There are eight different plans to choose from if you’re looking for a 2 bedroom condo in Abbotsford. There are two distinct floor-plans for one bedroom condos in uptown. The real estate developers for the Abbotsford Uptown condos is Forewest Properties Ltd, a trusted development team that has completed many outstanding property construction projects. For more info on Uptown condos in abbotsford or any other condominium in Abbotsford visit "The Condo Seller" or call Raj Dhaliwal, your Abbotsford Realtor.

BRIO - New high-rise on Marshall rd

BRIO is the new high-rise apartment complex to be constructed on Marshall rd (Marshall & McCallum) in abbotsford. The new 28 story high building will be located right next to Gateway professional centre. BRIO will offer 1 to 3 bedroom condominium residences. Registration is open for 680 to 1870 sq ft of luxury apartments. BRIO will also offer a b-b-q courtyard, fitness center, residents lounge, guest suites and concierge. If you have questions about BRIO or any other condo building in Abbotsford, contact The Condo Seller.

Abbotsford Condo Market Update

Abbotsford condo market is going strong with over 150 apartment units sold in the first quarter of 2007. Condo sales numbers were strong even in this crazy weather. (snow in April). Many new apartment buildings are going to be built in coming years including some high-rise buildings on Marshall rd and South Fraser Way. City of Abbotsford has removed the 16 story height restriction on South Fraser way. We'll see taller building on South Fraser way in the near future. Check out THE CONDO SELLER 's website for more info or Click here to view MLS listings of Abbotsford Condos.