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Abbotsford MarketWatch March 28 - 73 New Listings This Week

Abbotsford Market-Watch Newsletter for March 28, 2013. This week 61 new listings in the past 7 days.
---scroll down to view the listings

~ When your purchase is not properly represented, many things can go wrong! ~

Here is a case to learn from...This happened in 2005 (during a very hot market).

Mark and Sandy bought a new house in Chilliwack directly from the builder. They agreed on the contract price, terms and the completion dates. The house was about 6 weeks from being fully finished.
Due to the lack of representation many items in the contract were omitted.
Two weeks after the family moved into their new house, they found a letter from a local law firm informing them that a lean was placed on their title. The lean holder was a plumbing company that did the plumbing.
It turned out that the builder never paid the plumber for their work and apparently had no intention to do it now that the house had sold. The plumber demanded his $7,800 or else.

This is Unfair! Why should we pay for the plumbing twice!?
When we bought the house, the plumbing was included wasn’t it? These were their words when I meet them, to see if I can advise them on a solution.

This whole issue could have been avoided if the contract was properly drafted.
When new construction homes are sold, we protect the buyer by withholding 10% of the value of improvements for 55 days from the time the occupancy permit is issued. Example: If the cost to build the house is $ 250,000 then the buyer’s lawyer would withhold $25,000 and keep it in his trust account for 55 days. If there were any unpaid debts or contract invoices the contractors have 55 days to place a lean on the property.
So in this case, if the plumber had come with a request to get his invoice paid then there would have been money to pay him.

In the end, Mark and Sandy did solve their problem but this experience left them bruised. They no longer trust a handshake agreement and they promised me that they will always get a professional opinion before committing to any contract.

Tibor
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This past 7 days we had 61 new listings. 34 Residential detached and 27 condominiums/town homes.

Here are all the new listings by the price ranges:

Residential Detached:

$300,000 - and under Click Here: http://goo.gl/xNwBc

$301,000 to $400,000 - Click Here: http://goo.gl/mK4aq

$401,000 to $500,000 - Click Here: http://goo.gl/oTpDY

$501,000 to $600,000 - Click Here: http://goo.gl/k8oR0

$601,000 and up - Click Here: http://goo.gl/vBU7Q


Residential Attached:

$250,000 and less Click Here: http://goo.gl/TSdHR

$251,000 and up Click Here: http://goo.gl/ftyLJ


If you'd like to see any of these homes - I'm holding an Abbotsford House Tour weekly for the month of April.
Tours times are: Every Saturday 10am - noon
Click here to join us: http://abbotsfordhomesearch.ca/tour-abbotsford-homes.html

I'll be back next week with all the new listings.
Warmly,

Tibor Bogdan

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PLUS: Here are ways I can help you today:


Get A FREE Guide To Real Estate Prices
http://abbotsfordhomesearch.ca/guide-to-home-prices.html

Get FREE updates of all the new listings that come on the market in any price range and area you choose:
http://abbotsfordhomesearch.ca/market-watch-update.html

Find Out How Much Your Home Is Worth
http://abbotsfordhomesearch.ca/home-evaluation.html

Weekly Tour of Homes
http://abbotsfordhomesearch.ca/tour-abbotsford-homes.html

Search for Homes
http://abbotsfordhomesearch.ca/recip.html/12976.searchform

Top 10 Mistakes Home Buyers Make
http://abbotsfordhomesearch.ca/top.html

How To Sell You Home for Top Dollar - FAST
http://abbotsfordhomesearch.ca/how-to-sell-your-home-for-top-dollar-fast.html

Sign Up For a First Time Home Buyer Seminar:
http://abbotsfordhomesearch.ca/first-time-home-buyers.html

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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.