Seas: 5 EP: 216 (March 11 show) Stats for the month of Feb, REMAX 50th year convention R4 in Vegas w/ Maroon 5 & Pinks drummer!
April 20, 2023 | Posted by: Michele CumminsSeas 5 EP 216 (March 11 show) 'Stats for the month of Feb, REMAX 50th year convention R4 in Vegas w/ Maroon 5 & Pinks drummer!'
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Curtis Pope 0:22
Saturday morning, it's time for the company's real estate show. I'm gonna screw me up, Michelle, we have to drop the group for some kind of I don't know, because Michelle just said drop the group. Yeah, we're dropping the group which is gonna throw me off for the next few weeks until I figured that out.
Michele Cummins - PREC 0:36
We're now the commons real estate show Commons real estate show. But I feel like we should be called like, I don't know, like the commode or something. You know, like Angelina
Curtis Pope 0:43
Michele Cummins - PREC 0:45
Mix your name with my name.
Curtis Pope 0:46
How about the Michelle Commons real estate experience featuring Curtis? Oh, that
Michele Cummins - PREC 0:51
is nice. It's a
Curtis Pope 0:53
bit of a mouthful to say that
Michele Cummins - PREC 0:54
sure is. That would be fun. Fun every week to say I'll
Curtis Pope 0:58
take you 20 minutes of the show just to get the name out.
Michele Cummins - PREC 1:00
And I shouldn't have been tried because we know how I am.
Curtis Pope 1:04
So what's the commons real estate show? Yes. With Michelle Commons and myself, Curtis? Bob. No. Look how long that intro took that took like a minute.
Michele Cummins - PREC 1:12
Because I've just seen.
Curtis Pope 1:14
We'll get right next few weeks. Now. It's good to have you back because you've been away for a couple of weeks. Last week. You were in Vegas, but you made it back. So obviously what happens in Vegas stays in Vegas. You can't tell us much about it. But how was your trip?
Michele Cummins - PREC 1:28
Oh my gosh. You know what? It was fantastic. I had so much fun. And my three of my sisters came out for the Orange Show. And then
Curtis Pope 1:37
three of them.
Michele Cummins - PREC 1:38
Yeah, yeah, that's a good odds. So they came out and we had a blast playing poker and staying up way too late. And then of course, the Maroon Five was our concert. It was the 50th REMAX anniversary, 50 years. So it was big. It's an international conference, we had almost 10,000 Realtors there. And they do the private concerts every year. And oh, the one of the speakers is the drummer for pink.
Curtis Pope 2:04
No, he's a great drummer, Mark Schulman or something like that. Yeah,
Michele Cummins - PREC 2:08
he's a speaker, who would have known
Curtis Pope 2:10
that most drummers you know, that bought enough time counting to four level, I can say that I'm a drummer, and I have a hard time counting to four. But no, yes, actually some guy it's funny because drummers always get picked on the bands are always the butt of all the jokes. But the funny thing is, a lot of times drummers do have this really good outgoing personality. And a lot of times like, you know, when you're talking to musicians and bands when they come in, oftentimes the drummer almost acts as a road agent and stuff because they just seem to have something about guys and girls who play drums, where they're just better suited for being outgoing and stuff like you think about Dave Grohl from the Foo Fighters or, or or Taylor Hawkins when he of course sadly passed away and, and all these guys have played drums? Yeah, there's a lot to that, where they just sure they have a hard time making a living. But they're good guys. And you can talk a lot.
Michele Cummins - PREC 2:56
It must be psychologically be being able to hold like, hold the beat, and you have to have so much energy and maybe something to do with personality traits connect that way somehow. I don't know.
Curtis Pope 3:06
It could be I don't know. But, you know, got Ringo. He was always the most natural Beatle whenever they would do interviews, right, like, Oh, yes. True. He was just so naturally charming and funny. Yeah.
Michele Cummins - PREC 3:18
Well, Mark was really good. I didn't know what to expect for him from his speaking role. I was like, Okay, this is interesting. But he was really good. And one thing I know, it's not like, Oh, you have to do this, or you have to do that. But he taught to say, I get to do this, I get to do that. So it's been like changing of the language. Difference.
Curtis Pope 3:41
That makes sense. You know, it's funny because it does change your mentality a little bit, right? Like, you know, if you come into the house and the kids have made a mess, and you're like, you've made a mess of my house or whatever, but if you can say what have you done to our house like you've not changed?
Michele Cummins - PREC 3:55
Ah, so true. Your language language is so important vocabulary. The words we say and I got to rent you. You would have loved it. Curtis, I rented a slinger you know, that's a go kart and I'm on the highway and oh my gosh, my legs like practically like the ground is just rushing right next to me. And it was so fun. I was going to do motorcycles, many of my friends and we decided to do a slinger and we went to Red Canyon in the Hoover Dam and we went to this cute little donkey town in Arizona called Oatman, and it literally is a donkey town there's donkeys walking in town. There's donkeys everywhere. Wow. Oh, if next time you're in Arizona, you got to go there and the windy road off near the cliffs to get there would have been fantastic in a minute on a motorcycle but it was so fun on the slinger.
Curtis Pope 4:45
Arizona. I've been all down the coast. I've never made it into Arizona.
Michele Cummins - PREC 4:49
Really? Yeah. Oh, you're missing out. You definitely have to take a trip. Well be the Western buff. I
Curtis Pope 4:53
want to go to Tombstone at some point. Oh, totally.
Michele Cummins - PREC 4:55
Oh my gosh, yes, you have to. Okay, so I wanted I'm going to work I'm gonna kind of flip the show today. And we're I want to talk about some new listings coming up and some price adjustments,
Curtis Pope 5:05
if at all. If you change the name on me, and now you're doing things in a different order I'll never get through the show.
Michele Cummins - PREC 5:11
I like life to be on the edge and different and exciting a cup of coffee. Well, I was gonna bring a green tea matcha with oat milk.
Curtis Pope 5:18
I probably should have taken it, but I'll just go with regular.
Michele Cummins - PREC 5:22
I like your Yoda on your coffee mug.
Curtis Pope 5:24
It's grow goo technically.
Michele Cummins - PREC 5:25
Oh, it is. It's girl girl. Yes. So the new listing coming up actually today is a beautiful townhouse. It's a corner unit in Michigan called Southwind. Very small, complex, actually. Off 14th Avenue. You can walk to Centennial Park Centennial Park has a dog park, tennis courts, a jogging area, huge playgrounds, it's got basketball courts, and then you could walk right there to the leisure Center, which is amazing pools and ice to hockey rinks
Curtis Pope 5:55
played there many times. Yeah, you
Michele Cummins - PREC 5:58
know it. I always wanted to go and watch and play there. But yeah, this is an end unit. It's three storeys it's a good size. It's over 2000 square feet. It's got three bedrooms, a bonus room, a flex room in the basement. I mean good yard size, three bathrooms, it's on for 739 900 and it's still under a 10 year home warranty. So that one check out it's really nice. And then if you like vacationing, if you like recreational property, if you'd like Income Cash Flow money, and you like skiing, hiking, dirt, biking, ATVs and maybe even some golfing like frisbee golf. You can tube What am I talking about? I'm talking about my newest listing off Saccucci creek road up at Sasquatch Mountain Resort, and that's Hemlock Valley it's almost 50 or 2600 square foot house it's got the main floor is the main living where the seller lives and then the two upper floors are is an Airbnb. It's already a successful running Airbnb. And it's cute. It's I call it lodge a cabin. It's adorable. So that's on for 1,150,000. And yeah, it's a huge lot. corner lot. Seven minutes you can walk to the gondola to go skiing or snowboarding and the Molly's Huggins restaurant and pub is right there too. So that is the newest listing as well. And then I've got some price adjustments now this one right in Northside of of heartsick lake in Michigan. It's off swerd road. It's a cute little three bedroom, one bathroom home. This is great for retirees, young couples, somebody who wants a vacation property, maybe they're coming out from Vancouver, the Tri Cities is perfect. The community has a private access to the lake and a private boat launch there. So yeah, that one's on for only 599 999. When we used to talk about properties under 600,000 in our area that was years ago, it seems like
Curtis Pope 7:54
eons ago, nothing on heartsick Lake. Yeah, that's, that's amazing. Yeah.
Michele Cummins - PREC 7:57
So this, yeah, that's a great price. And we just adjusted that price. Literally a huge adjustment actually, yesterday, and then this awesome condo I have it's off gladwyn In Abbotsford, central Abbotsford. Right next to the pub and all the the the suites cafe. I did a real on it. And yeah, wonderful desserts like cheese cakes. Oh, yeah. And other sorts. But this one that was built just in 2015. It's a one bedroom, one bath and ground level. It's like a townhouse style condo, it's got the patio at the front. So you can come into your unit through your patio. You don't have to go through the building. If you don't want to that price adjustment. It's now 339. Yes, so that is a great price. It's 465 square feet. And we just staged it. So you can it was vacant before. So now you can actually see what it looks like and feels like with furniture because a lot of times it's hard to tell without the furniture to know what the you know how it would work. So it looks fantastic. It's okay, so I got another one. We just had a price adjustment out on 16 acres in Maple Ridge. So this is a horse at quines dream. The house is amazing. You got to look at the photos and the drone video of this place. So it's a wide it's pretty square actually this 16 acres, and it backs on to connect cool quick. If I can talk. It actually goes through a little bit portion of the property too. So you get to enjoy your own portion of the creek. And yeah, it's on for 2,999,000 It's almost 6000 square foot house. It's got this huge bunker under the house. It's got a huge barn. It's got tons of cross fencing, paddocks fields, it's actually beautiful. It's actually really great street appeal like you drive the property. It's off 1/16 Avenue in Webster's corners, which is also a very popular area of of Maple Ridge, and that one has a carriage house so it's got two living spaces, and it's got some RV pads as well and just fantastic parking and actually the layout is really really nice. So perfect.
Curtis Pope 9:59
For the Cummins family because the cars you want to get horses, I mean, it's got a quadruple garage and it's got the carriage house you can send Richard out to. So yeah. Sounds to me like it's the perfect property for you.
Michele Cummins - PREC 10:13
Well, you know what I have thought about it because I really the horses and I want horses again and everything. And you there's a horse trail. Well, you could also walk your dog and, you know, hike it. And just down the street from it is this archery business where it's another 16 acre property. And what they do is you can buy tickets for $35 and go do archery, and some other things. And then the trail is right there. It's a really neat location of Maple Ridge. I mean,
Curtis Pope 10:39
we room for Richard to buy a whole bunch of more cars. Curtis, sorry.
Michele Cummins - PREC 10:44
It's the guitars and the cars and the
Curtis Pope 10:48
guitars, Cadillacs and hillbilly
Michele Cummins - PREC 10:50
music. Yeah, there's a song there. Oh, wait, it's already a
Curtis Pope 10:53
song. Well, you come over to Venus to that one.
Michele Cummins - PREC 10:56
Oh, well. Yeah. That's, that's it for the new listings and the price adjustments. All right,
Curtis Pope 11:01
well, we're coming up to almost right on time, which is amazing. So we'll take a quick break here. But if people want to see these listings, and it sounds pretty incredible, all them wherever they want to go,
Michele Cummins - PREC 11:12
Curtis Pope 11:14
We're back with more right after this.
And we are back with segment two of the Cummings real estate show. That's gonna throw me for a while. Michelle, you've done this on purpose. I know it. But yes, we are back. That's what I'm trying to get to. Now we've flipped things on its ear here. And we did the new listings and price reductions already. So now we have to get into and I'm assuming because you've been away for two weeks that you have stats. I have the stats. She has stats, and she's overly caffeinated. This could go really fast.
Michele Cummins - PREC 12:34
Absolutely. So get your ears on. Signs of stability in the Fraser Valley creates opportunities for home buyers and sellers. Now, this is a report that came out while I was in Vegas, and we have it here for everyone on our show in case they haven't seen it. House prices. You wonder what has happened to the house prices lately. Well in February, in the Fraser Valley, posted some slight but positive bump after nearly a year of month over month decreases. Similarly sales, though still trending lower than normal also recorded their first monthly gains since October. So the Fraser Valley Real Estate Board processed 898 sales on the MLS in February, that is an increase of 43.5% over January, but still only half as many as what was recorded a year ago. Now this is a report from our president of the Real Estate Board Sandra bends. She says In recent months, the level of uncertainty regarding rates and prices has negatively impacted inventory and that's kept a lot of clients on the sidelines. Together with a growing consensus suggesting that a pause on rate hikes is imminent. The positive signals from the market give families something to build on and plan for. As that starts to happen. We expect to see sales pickup slowly but steadily heading into spring. With the sales to active listings ratio of 20%. The overall market was once again imbalance however, the ratio for townhouses was higher at 36%, indicating a seller's market for this category. The market is considered in balance when the ratio is between 12% and 20%. All indications suggest that the market is on track to reestablish a level of stability, which is encouraging for both demand and supply sides. And that's from Valdez Gil. He's our Chief Executive Officer at the board with solid opportunities for properties that are appropriately priced and that is a big thing to know. Investing in the expertise of the professional realtor should be the first decision buyers and sellers make to ensure the best local strategies before jumping back into the market. So properties spent between seven and 12 fewer days on the market compared to last month. Another sign that the market may be picking up. So across the Fraser Only in February, February, the average number of days to sell a single family detached home was 36. And a townhouse 33. And apartments took on average 32 days to sell. So benchmark prices overall in the whole Fraser Valley. So remember that this is Fraser Valley right now and then we'll get into the municipality by municipality, but single detached homes benchmark price in February was at $1,364,300. And that's an increase of point 5% compared to January of 2023. So the month before, and a decrease of 21.5% compared to February of last year, townhouses are at 776,200. So that is a point 4% increase compared to January and a decrease of 13.8% Compared to last year. Apartments are at $510,100. And that's an increase of 1.3% compared to January and a decrease of 10.5% Compared to last year. So Curtis, we usually start with our wonderful you know, Heart of the Ocean heart of the valley Abbotsford. Should we start with Abbotsford stats before
Curtis Pope 16:05
throwing everything else for a loop. So let's keep something standard. Let's do it. Okay, we'll stick with Abbotsford and stick with Abbotsford for now and then we'll see what you do next month.
Michele Cummins - PREC 16:14
Detached benchmark prices in Abbotsford is $1,064,500. And that is a decrease of 29.9%. From last year but an increase of 1%. From January. Townhouses 607,000. That's a decrease of 11.9% from last year and a decrease of 1.8% from the month before apartments $394,000 100 And that's a decrease of 16.7% from last year but an increase of point 3% From January missions detached benchmark prices are at $884,200. That's a decrease of 32.7% from last year but an increase of 1% from January. Townhouses 625,200 And that's a decrease of 6.7% from last year and a decrease of 1.3% from the month before apartments $435,400 a decrease of point 9% from last year and a decrease of point 5% from the month before. Now White Rock and South Surrey we got detached benchmark prices at 1,776,300. That's a decrease of 13.8% from last year and a decrease of 1.4% from the month before. Townhouses are at 885,700 a decrease of 15.5% from last year but an increase of point 9% from the month before apartments $574,100. That's a decrease of 7.8% from last year but an increase of 2.2% from the month before laying the benchmark prices detached are at $1,467,800. That's a decrease of 20% from last year. But an increase of point 4% From January townhouses are $801,300 a decrease of 7.2% from last year and an increase of point 1% From January apartments 557,800. That's a decrease of 11.5% from last year but an increase of 1.5% from January Delta benchmark prices for detached at $1,243,700. And that's a decrease of 23.7% from last year, an increase of 1.4%. From January. Townhouses 835,000 a decrease of 18.1% from last year, but an increase of 2.1% from the month before and apartments $547,400 a decrease of 11% from last year and a decrease of point 5% from the month before. And then the city of Surrey. So overall combined, all of Surrey except for the South Surrey area is benchmark prices detached $1,503,200, a decrease of 18.7% from last year but an increase of point 7% from the month before and townhouses 803,100. That's a decrease of 16.3% from last year. And an increase of point point 9% point point 9% of the month before and apartments are at 522,700 and a decrease of 9% from last year but an increase of 1.4% from January. And if you look at the stats, and please I have these on my website, under blog, I always upload the monthly stats. So have a look at the whole package. But if you look at a graph, and it is showing, as mentioned in the the the report from the president of the Fraser Valley Real Estate Board is we're in a balanced market and we are we are in a balanced market and typically our market is balanced. There's times we have a seller's market times we have a buyers market but most of the time it is balanced. But again, it doesn't really feel balanced when you ask people they still feel that or they feel it's a bit more of a buyers market still, but it is is truly a balanced market. And then when you look at the graph from the stats that show the overall prices in the Fraser Valley for detached homes, it goes all the way back to the 70s. It's one of my favorite graphs. But it shows that when it started declining as of last year, in February 2022, it's actually had a tick up. So you could see that Curtis, that little again, there's
Curtis Pope 20:22
a little tick, we're, we're moving back up in the right direction.
Michele Cummins - PREC 20:26
Yeah, there it is. I'm gonna show it on our YouTube watch later,
Curtis Pope 20:29
which is funny, because we talked about this over the last year, you know, there was a lot of doom and gloom, we were gonna lose 40% of the values of our homes and this and that. And then we had, you'd come I need to find articles from experts who said, No, it's going to be more like, you know, 12 to 17%, or things like that. And now here we are a year later and things. Granted, it's just a small tick, but are starting to uptick already a year later.
Michele Cummins - PREC 20:52
Yes, in the last time, the bank account I met, they held the rate steady, they did not go up, they didn't go down. But they held him steady. And the word on the street is that most likely in 2024, they'll start maybe even coming down a little bit. But let's see what happens to the inflation as we move forward this year. Well, seemingly, but
Curtis Pope 21:09
it is, you know, it's amazing, you know, we always get the doom and gloom, and it's never as bad as they say, since I was in high school, we're gonna have the bottom Fallout, we're gonna find the ball and I went school a long time ago, and the bottom has never fallen out.
Michele Cummins - PREC 21:22
No, I mean, how can it in our area, you know, what, it's times we only see what's right in front of us as humans, typically, we just see what's happening today. And we get we, you know, fear is a driving force, unfortunately, for a lot of people, and that can change things. So if we realize no, this is a look into the future, look into the past, make an educated decision and and know that there, there's always the the times that it goes down, or that we have difficult times, if you can bear through it for those two to three years that it typically lasts, then then you'll be better off for it on the other side, but it is going to be a concern. Once people's mortgages, you know, their five year terms, which is the typical human being chooses the five year term in Canada, you know, these terms that we've got so you know, when those start coming up this coming year, if somebody can't afford the new rate, that's that's when it's going to be a little hard, you know, for some people and those who bought and went on variable just at the height and, like, really were tight in what they can do. But But luckily, we haven't seen I've really haven't seen any I know there's foreclosures out there. I know one realtor who's working on one, but I've been talking to other realtors and we haven't really seen them. They're not really out there happening very much yet. Hopefully not. But anyways, yeah. So I've got a quote for the show. And this quote comes from one of my awards that I received a plaque that I received for best sales last year in my office and this quote, reads Success is not final. Failure is not fatal. It is the courage to continue that counts. And that's Winston Churchill.
Curtis Pope 23:07
And here I have expected some kind of Elvis quote about Viva Las Vegas after last week, but
Michele Cummins - PREC 23:13
that would have been a good one.
Curtis Pope 23:15
No, Winston Churchill is always a pretty good source of material, I'm sure yeah. It was all next week or your homework. I want an Elvis quote. Next week. Okay. I like this quote before, but it's been a while
Michele Cummins - PREC 23:26
I call mark. Okay, I'll do it.
Curtis Pope 23:29
All right. Well, if people want more information about your listings, and what you do as a realtor, where can they go again,
Michele Cummins - PREC 23:34
Curtis Pope 23:36
And join us again next week and we will talk real estate in order to unlock your real estate potential on the show real estate is maximized. Thanks for listening
Transcribed by https://otter.ai
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