Author: Varing Group

INTEREST RATE REMAINS UNCHANGED As many had predicted, the Bank of Canada has erred on the side of caution this morning and paused their plan of a gradual and consistent rate hike pattern. Several factors led to this slight change of course, primarily slumping oil prices and lagging retail spending. Although there was no talk…

BUSINESS EXCELLENCE AWARDS ABBOTSFORD 2018 ABBOTSFORD BUSINESS EXCELLENCE AWARDS 2018 Consumer Services Excellence (1-5 Employees) Winner: Varing Marketing Group We are incredibly grateful to have been selected as the Winner of Consumer Service Excellence (1-5 Employees) for the 2018 Abbotsford Business Excellence Awards! A big thank you to the Abbotsford Chamber of Commerce and the…

NEWTON BUSINESSES WON’T GIVE UP ON LRT IN THE NEWS: CBC Businesses in Surrey’s Newton area won’t give up on LRT CBC News | Jesse Johnston October 25, 2018 Land value Property values along the proposed LRT line have spiked in recent years as developers looked to cash in on some of the higher density housing…

THE CREDIT CYCLE’S IMPACT ON REAL ESTATE PRICES There are many factors that impact real estate prices, but ultimately, it comes down to liquidity and ease of access to attain funds. Money for down payments used to come from savings and income, but since the late ’80s, banks started extending more and more credit which…

ANNUAL RENT INCREASE RATE REDUCED TO 2.5% After many debates and push back against the prospect of a 4.5% rental rate increase for 2019, B.C.’s government has agreed to adjust the formula. Based on a proposal from the NDP’s Rental Housing Task Force, the new formula brings next year’s maximum rental rate increase to 2.5%….

YOUNG GUNS FEATURED: REAL ESTATE PROFESSIONAL MAGAZINE Young Guns 2018 Joe Varing / Homelife Glenayre Realty Company Ltd. Joe Varing has been the number-one Homelife agent in Canada for sales volume since 2014. His massive success has been the result of consistency and a dedicated “relationships first, business second” attitude that clients in Abbotsford have come to…

REAL ESTATE RECAP SEPTEMBER 2018 There’s been a few updates to real estate topics we’ve talked about in previous articles and we wanted to take the time to give a quick summary of some of the issues that may affect you. Fraser Valley Real Estate Board releases stats for AUGUST In a news release earlier…

FOREIGN BUYERS DISAPPEARINGFROM MARKET It’s been heard by everyone, whether on the news, at your coffee shop or thrown around on social media; “foreign buyers are driving up real estate prices”. The reality of this misguided sentiment was recently cleared up for all to interpret.  The latest property transfer data from the B.C. Ministry of…

UNCERTAINTY SURROUNDING SURREY’S LRT With many varying opinions surrounding Surrey’s plans for the proposed Light Rail Transit (LRT) system, its future is up in the air.  For SkyTrain: With the Surrey mayoral election coming up, the future of the LRT has now become a campaign topic of debate. The possible changes to the plan became…

THE FRASER VALLEY LAND RUSH IN THE NEWS: WESTERN INVESTOR BC Industrial and residential demand spurs Fraser Valley land rush Land is “the new gold” – and B.C.’s Fraser Valley the motherlode Frank O’Brien | Western Investor July 23, 2018 British Columbia’s Fraser Valley is in the midst of a land rush that has driven prices…