New Listing today, 1 bedroom, 1 bathroom unit for sale in “The Waddington”. Rentals allowed, pets allowed, no age restrictions. Perfect for a first time buyer or an investor. Building was built in 2006 and still has warranty. Details and photos to follow.
Archive for the ‘Abbotsford Condos’ Category
It was another successful year in the Abbotsford Real Estate market although not as good as 2009. There were 1,103 houses sold in Abbotsford in 2010 which is down from the 1,375 that sold in 2009. There were a few reasons that likely contributed to the decline. The implementation of the HST, although only connected to the new housing market in Abbotsford, most people I speak with ‘assumed’ it was connected to all home sales. The new lending rules (forcing all mortgage qualifiers to qualify for the standard 5 year fixed rate even if they were going to a different rate and term.
Here are the comparison of condos and townhomes sales in Abbotsford from 2009 to 2010 and then for previous years:
So we saw a drastic drop off in townhomes sold from 2009 to 2010 but a slight increase in condo sales.
In a volatile real estate market like the one we are still experiencing in Abbotsford (although it is a lot more mellow than it was a year ago) there tends to be a lot more foreclosures and court ordered sales in Abbotsford. These are great buys if you can get them at the right time and right price. Below are links to both foreclosure homes in Abbotsford and foreclosure townhomes and condos as well.
Previous to March 2009, the only legally enforceable age restriction in stratified condo/townhomes in Abbotsford had been the 55+ age restrictions. In a building that was previously 19+ or 30+ etc… they were not legally enforceable and often stratas had to fine owners who did not follow. The stories of stratas causing trouble with owners are too numerous to name, but a few examples are constant fines, liens on title and other sorts of trouble.
All that has changed now. They are now legally enforceable.
If you are 30 years old and your partner is 28 and you are trying to by into a strata building that has a 30+ age restriction, you no longer are legally allowed to do so without expressed written consent by the strata corporation. Permission to do so would likely require a vote by the strata.
Please ensure your Abbotsford Realtor knows the all the age restrictions and rules pertaining to age restricted buildings in Abbotsford.
The Abbotsford Condo market is growing on a daily basis, literally. With new condo developments popping up seemingly weekly in Abbotsford, the pre-owned condo market has seen a nice increase in condo values. The ‘big three’ for first time home owners in Abbotsford are College Park, Cascade Green and Regency Park. These are great choices for first time condo buyers as they retain great value due to location and amenties. More will be discussed about the Abbotsford Condo market here.