SEAS5 RM - 241 - Are You Looking For a Pre Sale in Langley City? SpringHill Condos Coming Soon!

October 20, 2023 | Posted by: Michele Cummins

SEAS5 RM - 241 - Are You Looking For a Pre Sale in Langley City? SpringHill Condos Coming Soon!

Watch Segment One Here: 



Watch Segment Two Here:

For More Information on Spring Hill Condos Visit:
SpringHill Condos | Langley, BC

For More Information on Steve Kooner:
RE/MAX Treeland Realty
Steve Kooner - Contact

For More Information on Amritpal Sura:
RE/MAX Treeland Realty
Home | Amritpal Sura Real Estate (asurahomes.com)

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Michele Cummins 
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 Curtis Pope 0:10
Well, here we are Saturday morning. That means it's time for the REMAX Magnolia show I got right.

Michele Cummins - PREC 0:15
I'm very proud. It's like, what

Curtis Pope 0:16
third week, fourth week. So we're here with Michelle Cummings, of course, and my name is Curtis Pope. And we have a couple of special guests here as well. But of course, the star of the show is Michelle Cummings. We got a camera thing going on. So yeah, we got to kind of manage our camera time.

Michele Cummins - PREC 0:33
Yeah, yeah, we've got a couple very special realtor guests today, here to share with us their amazing projects. And we have Amrit Powell surah and Steve Cooter, both with REMAX tree land Realty. Welcome. Thank you.

Unknown Speaker 0:49
Thank you for having us. So

Michele Cummins - PREC 0:50
glad that you guys are here. And I was I mean, projects, I love projects, I do a lot of assignments and love new home construct pre construction, new co home construction. And so I was really excited when I saw you Amrit, and you your your whole display and everything that you had, and you were telling me about this amazing project. And I just had to have you guys on the show. So thank you. And tell us a bit about yourself before we get into your projects that you have going on.

Speaker 3 1:20
Sure. I'm gonna go ahead Lully thank you so much for the opportunity, you know, all glory to God. First and foremost, and again, both you guys are amazing. Steve as well. And Michelle, thank you for bringing us into your show. Spring hill.com Absolutely Fabulous. condo building coming up in Langley city. You know, Steve works on like, creating communities, which which are up and coming so I'm gonna let him lean on that a little bit. So 113 units, right

Speaker 4 1:53
113 units actually Springhill condo.com is the website. Right now Harvard Langley city just off 200 Street. If you guys know the area, it's right across the street from an eco Mecca elementary school.

Michele Cummins - PREC 2:07
That's close to the future SkyTrain coming in correct 1.3

Speaker 4 2:11
Kilometer walk not that I mapped it out or anything but it's 1.3 but a 1418 minute walk depending on how fast you walk.

Michele Cummins - PREC 2:18
Are you have you already done pre sales? Like oh yes started

Speaker 4 2:21
pre sales. We are selling off plan right now we don't have our sales center we had a bit of a hiccup so that won't be open till spring. But we did have several people that wanted in so we did open up sales about a week and a half ago. And we're now selling off plans.

Michele Cummins - PREC 2:36
Okay, what are some of the other amenities because the first and biggest thing because I'm actually looking for a pre sale right near where the Langley transit is going to come the skytrain because it's huge. It's a huge great investment. And what I love to do is buy a couple pre sales in a building and then assign one and then keep the other so the the one I assign and sell I usually you know make enough to where I can then pay for the full deposit I put on the first one and it pays for itself maybe a little profit and after that and then get to rent out that one but I haven't bought one in a little bit because a couple of mine actually they closed the sales of it. Anyways, long story. I'm not going to talk about that. But I love for my future retirement plan as a realtor. Is this this plan I have so so tell us about how the assignments go. Are you allowed to assign in that building?

Speaker 4 3:33
Yes. So right now during our pre sales the we only have $1,000 assignment fee the 2% fee is waived. So if you do go to sign it you're only going to pay an administration fee of $1,000 so that's good you get to keep your profit I'm on the same plan as you I also buy a couple I tend to I've got two boys so I'm keeping these ones but essentially I would do the same as you find the assignment gets fun my rental once my retirement. You asked about amenities Elena wrote the throat area I don't know if you guys know the area but there's lots of park there's lots of trails, there's shopping there save on everything is really close by Langley city is I don't know if gentrifying is the right word, but certainly it's coming into its own, where we have a lot of neat cafes, a lot of neat restaurants, mom and pop shops. So you're not just getting here Tamizh and McDonald's and cookie cutter stuff. You have all that but you have some absolutely amazing local vendors and restaurants and stuff. So it's it's almost like a downtown feel in a much smaller area and SkyTrain is going to bring more of that more of those restaurants and stuff. As far as amenities. This is an interest. I'm glad you brought this up. We've been doing some research with our developer and we understand that affordability is a huge issue right now. So with this developer in particular, we're working on two or three projects, some coming up in Surrey Central. And we're actually backing away from some of the expensive the pools and the really high end stuff because we're finding a with insurance issues all that sort of stuff, the costs are just ballooning. And people don't need to, you know, you don't need to go in to spend $1,200 A foot just to have a pool, where you know, we're in the low eight hundreds of foot, you get your gym, you get some meeting spaces you get, you get all that sort of stuff, but it's not over the top and you can still afford the Olympics. At the end of the day. We need some affordability. We need some people to move and live there and not just rentals. So that's what we've designed this for.

Michele Cummins - PREC 5:25
Do you have any guest suites?

Unknown Speaker 5:27
No guest suites in

Michele Cummins - PREC 5:28
it? Yeah. You got to use every square footage.

Speaker 4 5:32
Yeah, and what it is with our we're very unique. So you know, pre sales, and you know, everything is going towards micro suites. Everything is small, our smallest one bedroom units, 590 square feet. Our competition is at 468 square feet. Now, if I'm renting, or if I'm a first time buyer or my kids, it's hard to live in 468 square feet. We do but we're not downtown Vancouver. Why do we have to do that on the value already? It's coming, folks. But do we need it right now? Probably not like 590 square feet, you get a one bed and then they're 690 to 730 740 square feet. It's pretty much two bedrooms. So you can't have somebody spend the night and we do have two bedrooms. They're 900 square feet. We're mostly what we see is they're the two bedrooms are jamming into 700 725 square feet. So we're a little different than our competition on that. Go ahead. Do

Michele Cummins - PREC 6:25
you have any of those lock suites where you combine both suites? They go into each other? So

Speaker 4 6:30
no. And that was we had looked at that. Getting that through? How do I put this delicately? Sometimes haven't municipalities understand the need for that sort of stuff? Some municipalities like if you go to Kelowna and stuff, we're doing a project up in Kelowna, they're actually we're in we're doing one in peach land with lock off suites, 400 450 square feet micro suites that you can either rent out, or if you're renting out the upstairs, and I want to go use my peach sign unit, I can go on the small suite and rent out the upstairs. They're getting a much better understanding than we are sometimes out in the valley. But that's coming. Those are great ideas. Who's your development developer sorry. So these This one's done by urban Coast developments. They we just sold 129 units that they built in Clayton called the Onyx. They also did 36 single family homes in Freenet heights and establishment which we're also lucky enough to market for wonderful, wonderful people wonderful. They care about quality they can they I love representing

Michele Cummins - PREC 7:33
what are some of the unique aspects of the units? I'm going

Speaker 4 7:37
to stop talking about Amrit talk for a second. I feel like I'm hogging the time.

Speaker 3 7:40
Absolutely. You know, I mean, knowing the product is is a vital thing about getting things out there. So with the developer really caring about community, I think their focus was how are we going to make people comfortable, right. And having a bigger layout certainly helps. Reducing the amount of additional amenities was an important thing to them. The there are two amenity rooms, which they'll have a nice gym, I'm assuming, right. And obviously, it's going to be in a in a great location, a little bit away from downtown, so you're not in high, higher crime areas, it's opposite a nice elementary school. So really locally focused, you know, one of a kind project in that neck of the woods, and then things will start to come around, you know, just to make more things available. So I think it was a great site they picked and then we had the opportunity to get, you know, a financial institution, RBC was on board as well to, to, you know, get people rate holes at this point. So they're prepared for the, you know, upcoming closing in 2026. And, you know, because some people are thinking, right, well, I can, I can wait. However, the deposit money is just sitting in the bank, well, if you can mobilize that into the presale, secure your financing, and you're in a better position, you know, two or three years later, it's it's a win win situation. Right. So

Michele Cummins - PREC 9:35
we got to talk more about that with the financial backing that you have on this the opportunity for buyers, what type of rate holds are we talking about?

Speaker 3 9:45
So what they'll do is they'll give, you know, guaranteed approval of mortgage for up to 36 months. They won't have to reappraise the property. So based on your income you have To be able to qualify for certain, you have to have good credit. And then if the interest rates go down, they will match those interest rates. If they go up, hopefully they won't go up. But there's there's a cap on what they can go up to

Michele Cummins - PREC 10:20
2026. They hopefully it will be be down further by them.

Speaker 4 10:25
Yes, absolutely. And that's, that's the smart play. As you know, Michelle, these market changes often punish the middle class the most. Especially when you get a mark like this where people are worried the people that can afford the least to lose are the ones that end up losing. And then for the people that can't afford it, there's a worry factor like and we all got families, we worry about what we can do and stuff. What I find is my clients that I've worked with for a while, know how this works and knowledge is power. So they are mobilized like Amrit said if they've got some money sitting they'll use that and when the interest rates come down, the property values go up significantly. And you know, if you're a first time buyer even, and you put you know, you qualify we do have a program, you can put 5% down if you're a bonafide first time homebuyer and you can get a CMHC letter, or lenders will will accept the 5%. So if you have that 5% In three years, you're you're able to complete you got a firm approval, as opposed to waiting three years the rates come down, prices skyrocket, then your 5% you need to still spend another six months a year saving for it. And by then prices go up again,

Michele Cummins - PREC 11:34
Steve, that's a very good point. Absolutely. I think we have to go on break. But when we come back, want to talk about what your deposit structure is on this. Perfect.

Curtis Pope 11:42
Well, you're back you really want to do all the work. No. Okay. You're doing such a good job, too. All right. We'll take a quick break here. We'll come right back. And of course people want more information about what you do as a realtor, see your listings, things like that.

Michele Cummins - PREC 11:53
Where can they go? REMAX Magnolia realty.com

Curtis Pope 11:57
Almost gotcha. I saw that little Oh, I'm almost went the old website. Very good. All right, we're back with more right after this.

And we are back with segment two of the REMAX Magnolia show with Michele Cummings and myself Curtis Pope now, you didn't give them the big typical Michelle Cummings intro but I figure I'll get you to do the intro again. Even though I know you're not doing your 20 Minute Intro So

Michele Cummins - PREC 12:47
talking about 20 Steve Qunar from Remax tree land Realty has been with REMAX for 20 years. He is established. He knows his stuff. He's smart. He's kind. He is a really good realtor and Amrit Amrit I have known for quite a few years and just blows my mind how smart and hardworking AMORT is. It's I just love working with these guys. And thank you so much for coming to our show. Very special to have you here. And Steve, you work with a lot of developments, a lot of new home construction, and we're talking about your new home projects, actually, specifically the one in Langley city. And then you have other ones in peach land in Kelowna, which I'd love to hear about. But before when we went on break, we were talking about RBC and about what they're offering buyers, the rate holds. And then we were talking about deposit structure. So Steve, can you dive into how the deposit structure is?

Speaker 4 13:43
Sure. So we are like I said, for your first time homebuyer bonafide, we've gotten a certain percentage where we can get them in at 5%. But you need to be a bonafide first time buyer. And you need to have a letter from CMHC proving your and that's fine. Otherwise, we have a flat 10% deposit. And we don't take anything until the seven day rescission period, we're no pressure you come in, you can write a contract you got a week to make up your mind, you know, we're not taking 1000 We're not taking 5000 We're not taking nothing. And when you're certainly want to buy the place and you're comfortable, and you've done all your due diligence, you give us a draft. And that's it very simple.

Michele Cummins - PREC 14:18
That's actually quite nice, because some deposit structures are very, you know, in complicated, complicated, and there's a lot of money that Canadians don't have right now to to to hand in for something like that. So that's smart on the developers part. And it's a great opportunity for buyers 100% And you were talking about earlier they assignments, so

Speaker 4 14:39
there's no assignment fee, only a $1,000 administration fee now that could change at any given time. That's right now for pre sales. You know, with any developers, you get to a certain point and you make changes and pricing, you make changes in your incentives and that sort of stuff. Like right now we're also giving away free air conditioning, like if somebody buys before the end of October. where you're going to get your ductless AC included. For the next five, we still got five two bedroom units that are sold, you're getting an extra parking spot so you get two parking spots instead of one. So we still got those incentives going on.

Curtis Pope 15:12
Those are great incentives because AC in the valley is almost, you know, almost needed nowadays it should be mandatory and a second parking spot that's like gold.

Unknown Speaker 15:21
Yes.

Michele Cummins - PREC 15:22
And what about Evie chargers?

Speaker 4 15:23
We've got Evie chargers. So we've got space for bike parking when I said we pared down amenities that wasn't any of that stuff. We have stalls for Evie charging, there'll be upstairs outside. They're not at every individual unit. But there'll be, I think eight or nine. I can't remember offhand. But we do have Evie charging in the building. We've got some guts, storage lockers, we've got all sorts of goodies.

Michele Cummins - PREC 15:44
Can you explain more about the assignment for those who may not know what is an assignment.

Speaker 4 15:49
So assignment is generally when if you if you buy a place like Bucha, you came in, you held your two units. And two years from now you decide either the markets went up sufficiently or you don't want to live there or so you an assignment is generally you essentially just US selling your contract to somebody else. So you're still obligated to make sure it completes by you sell your contract. You know, if you put $60,000 down, you might sell a place for 120 130,000 more than your contract price. So you'd sell the assignment to say Curtis, he would give you your original deposit back after he's done his due diligence. And then the remainder of your what we call left, which is your profit are generally paid out when the completion happens when Curtis completes on his place.

Michele Cummins - PREC 16:34
And something could be assigned multiple times, not just once it can

Speaker 4 16:37
be assigned multiple times. Now, the laws require that the developer signs off on them. We've got to collect every buyer's information, you guys got to make sure you pay tax. So there's there's going to be information that any buyer has to provide to the developer and have to get the developers approval, but it can be. And often we've seen in the last run up, we saw properties being flipped over and over and over and assigned. So it's certainly possible.

Michele Cummins - PREC 17:02
Since we have a couple years before this closes like 2026 Is there interest that is building up on the deposits given?

Speaker 4 17:11
No, there there isn't, we would have had to go up to a 15% deposit for that to make it worth and the developer felt that wasn't worth trying to get 15% deposit. So we want to leave our deposit at 10%. Now, we're also coming up when we started laying out these plans as it was last fall and winter. When the if you understand financing, you understand we'll see which I know you do. Any projects that got built or financed, dependent, and financing became very difficult last year. So our developer chose to pick the battles getting a 10% down when everybody else was 15, or 20%. So they asked me for my advice. And I said the lowest deposit we can get is worth way more than then things like paying the interest out and stuff like that. So that's why we're at 10%. And that's what we're not paying interest on the deposit

Michele Cummins - PREC 17:59
smart move

Speaker 3 18:01
makes it a lot more obtainable for, you know, a number of people, you know, new comers coming in having the 10% is more achievable than, you know, having 50 You know, a tiered structure deposit, right? So I think 10% in someone's mind, is easier and quicker to calculate as a lay man. And then they know what they have to start with. So if I'm having conversation with someone who's interested, and I say, Okay, it's only 10% down at seven days, think about it. Most people do have their things together, you know, whether they're new comers or whether they're borrowing from the bank of Mum and Dad, it's something which is achievable. At the end of the day, when we give them a price of you know, 519 900 they can go back and think Alright, well, it's only $52,000 Dad, or I have the 100k in my bank account, I'm going to put that to work somewhere else. I'm gonna get my approval, and be ready. Okay, whether I've assigned it or not, I'm gonna be ready in order to, you know, purchase on this property. So I think it was a great idea by my someone going and bringing something to community in the masses to serve them better, right?

Michele Cummins - PREC 19:37
You bring up the word community again, and that's come up a few times, and that's so important for quality of life and what are some of the other community areas and amenities around this wonderful location for the project?

Speaker 3 19:51
So I've recently heard and I mean, I'm blessed to know about a trail called Niko Michael trail and And just as I explore the project itself, you know, looking at different service providers within that community. So there's the trails, definitely something to look forward to easy access to other parts of the Lower Mainland. So great connectivity, great, great amenities. So, and we mentioned the skytrain being there in close to 2028. So, you know, definitely a well thought out plan, very close to freeze a highway. So, you know, you're not far from anywhere within. I would say within an hour, you could be at the beach, you could be downtown Vancouver, or you could be back here and I was picking blueberries,

Michele Cummins - PREC 21:01
and amaranth Steve, what is the name of the project again, for our listeners, Spring

Unknown Speaker 21:05
Hill, condos,

Michele Cummins - PREC 21:06
beautiful and the website again, Spring Hill condo.com. And there's no show home or showcase no sale

Speaker 4 21:14
center. At the moment, though, we will have one in the spring, we just rented a couple of glitches where we weren't able to get that up. So how many stories, six stories, wood frame construction. Nice. One and a half stories, underground parking, so the parking safe and secure. You got all the latest and greatest. Home Automation to get in like key fobs and all that sort of stuff. So they've taken security seriously. And that's, that's good.

Michele Cummins - PREC 21:40
And then, okay. And then I really wanted to ask you quickly, Kelowna and peach land, different developers

Speaker 4 21:47
as well. Yeah. So we've got, we've actually got a few projects coming up. I just brought that up for the reasonably Old City. So we've got about 130 Town townhomes coming up in peach land overlooking Okanagan Lake Citadel developments. It's a very high end builder, Steve Boss, he's a local builder here. We're releasing the first 21 next spring and absolutely stunning, stunning, stunning design, stunning. Everything about everything Steve does is over the top. It's beautiful art for sure.

Michele Cummins - PREC 22:20
What are the price points? Do you know yet?

Speaker 4 22:22
We don't know the price points yet. But what stuff is selling for out there? It's going to be anywhere from five to 550 a foot I'm sorry, I talked like but essentially, you know, it's going to be in that price range somewhere. But you know, it's a six minute walk into peach land, the boat launch and stuff. It's a stunning site.

Michele Cummins - PREC 22:43
And we never talked about the price points for your Lindley project,

Speaker 4 22:46
we start at 499, or one bedrooms, 590 square feet start at 499. We still actually got one unit left at 499. And the larger two bedrooms we go up to 782.

Michele Cummins - PREC 22:58
Oh, that's all reasonable.

Speaker 4 23:00
We, you know, I'm talking with realtors all day. We've had a lot of realtors buy in in our pre sales per foot, our square foot price, we are better than anybody out there. And we make sure that we do all of our research to make sure we're competitive. And we're very confident what we're bringing to the market

Michele Cummins - PREC 23:18
price. And before we end is there anything else that you want to

Speaker 4 23:23
tell us? Things I do want to say is community minutes I don't know if anybody's listening if you've been there Sandell gardens and Langley is a must visit. You've got to go. It's only a couple blocks from our site here. But it's absolutely beautiful. And I do want to say that we have some local projects coming up as well. We've got 31 townhomes coming up in Maple Ridge called the work which we'll be launching probably spring of 2024 and we've got 94 townhomes coming up in Port Kells, the Fraser Heights area. Another stunning project, lots of greenery, very beautiful design. So if anybody is interested in you guys get a hold of Michelle, and she can point you guys in the right direction. We'll have to

Michele Cummins - PREC 24:05
have you back on the show for those ones

Unknown Speaker 24:07
please would love it.

Michele Cummins - PREC 24:09
So thank you so much, Steve, and thank you so much for coming on and explaining your amazing projects. I love it. And I'm sure the listeners do too. And I wanted to mention that we had a contest going on REMAX REMAX agents here. We had a contest going on that ended so just good luck for everyone who entered the Netflix supreme for two years. Good luck. And now you can enter though in a new something that REMAX has for us Canadians. It's called REMAX Quest for Excellence Scholarship Program. So the REMAX Canada is now accepting submissions for the 2024 REMAX Quest for Excellence Scholarship Program, which is open right now until March 13. The annual program awards a $1,000 scholarship to 40 graduate In high school students in Canada presented during their commencement ceremonies. The 2024 Quest for Excellence Program invites eligible students to write and submit a 12 150 word essay based on one of three key things. One is charitable community contribution. One is the vision for a higher future. And oh, that's the third

Curtis Pope 25:25
is your computer doesn't want to cooperate. That's right. We got this just make it up. They won't know. Something about ensuring future generations have a safe and secure and affordable place to call home. Curtis knows all that she does not have glasses on I had to help her out a little bit. That's right, I

Michele Cummins - PREC 25:42
gotta put these things on. Alright, so that is the quest for excellence. So be sure to enter.

Curtis Pope 25:49
So graduating students this year. Yeah. So if I had a 17 year old daughter who graduates in June, I should get her on this. Absolutely Curtis I'm on it

Michele Cummins - PREC 25:58
on it. See REMAX Magnolia social media to click the link and enter. So we've got some new listings today that I wanted to bring your attention one is actually an assignment at Ren and Raven in mission. So this is a one bedroom plus den and one bathroom unit going to be finished spring of 2024 and it's on for $375,000 A beautiful north facing unit with a nice balcony. You get AC and you get one parking for that. Then we've got one at 43747 Beaudry road, this is an acreage it's 2.64 acres. It's got a three bedroom and two bathroom, manufactured home on it with a nice deck if you want to live in peace. It's about 2025 minutes east of the city of mission and it's priced at $900,000. And then we've got 15 at Woodside place up on Mount Woodside, where hang gliders glide and Eagle soar. There's lots of lakes in the area there Sandpiper golf course. It's just a wonderful place. It's right next to Sasquatch ski resort. This is a 2010 rancher with a two bedroom upstairs and loft. So you got your master bedroom on the main floor. It's got all in floor, radiant heat. It's a three bedroom, three bathroom and total over 2000 square foot. Great parking double garage $949,880. And we have an open house today. So you have to go out and see James Minh Chow is hosting an open house off ash street that actually actually is tomorrow Sunday from two to four. The one he's actually hosting today as the one I just mentioned. So that's the Woodside place went out and met Woodside. So go take a nice 35 minute drive, and just enjoy the ride and go see him between 11 and 1pm. Today again 15 at Woodside place, and then tomorrow Yes, he'll be at 2839 Ashe Street and that's in central Abbotsford. They actually call it the old Claiborne lower 10 Oaks area. It's over 12,000 square foot lot. It's a four bedroom, two bathroom home built in 1968 with some really nice renovations. It's 2281 square feet, and it's roughed in for a suite. So there you have it. And quote for the week is Curtis, would you like to share the quote for the week?

Curtis Pope 28:26
Well, if you can get the computer going and might be able to help you. There we go. Okay, 90% of all millionaires become so through owning real estate. I liked that one. I knew you would. And that's from Andrew Carnegie.

Michele Cummins - PREC 28:41
That's right. And it's very fitting for today's show.

Curtis Pope 28:43
I think so. All right. If people want more information about your listings, things you do as as a real estate agent work and they go

Michele Cummins - PREC 28:51
REMAX Magnolia realty.com

Curtis Pope 28:53
And join us again next week when we will talk real estate in order to unlock your real estate potential on the show where real estate is maximized. Thanks for listening

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