Ever been confused by media reports of housing prices and the cost of home-ownership? The media usually report median or average prices without really explaining what that means. The news is always talkng about how housing is becoming less and less affordable and that the median price is climbing up like crazy everywhere. But what is a median price, why look at it and how it's different from average price?
Well the median home price is one of the most common measurements used to compare Real Estate prices in different markets, areas, and periods. It is said to be less biased than the mean (average) price since it is not as heavily influenced by a small number of very highly priced homes. A median is the price where 'half the homes sold for more and half sold for less.'
The median price however doesn't give any indication of the spread of these prices. Many properties are sold at much lower - and higher prices, of course - than the median price. Clear as mud eh?
Suppose we take 7 houses that were sold and sort their prices from lowest to highest (in thousands )
250, 252, 278, 286, 302, 325, 339
Median price here is 286, because it's in the middle of range - 3 prices are lower and 3 prices are higher than it.
The average price - Is where an average price is - the total dollar volume of homes sold for a particular period, divided by the number of properties sold.
Average prices are typically reported for the sales activity in a given area for a given month, quarter or year, and provide a snapshot of past activity.
To calculate average price we have to add up all of the prices and then divide by the number of houses, so that:
Average price = (250 + 252 + 278 + 286 + 302 + 325 + 339) / 7 = 290
However, average prices of properties sold in the past give only a limited indication of what housing inventory for sale is priced at today. What this shows basically is who rules the market in a certain place (suburb or area) at certain time (i.e. 3 or 6 months or a year): if there are more people buying expensive houses than cheap ones, it will go up, but if there are more people buying cheap property than expensive - it will go up.
You sort of have to know what housing is doing in a particular community to put these average prices into perspective.
So there you go!
Also see:
Is It Wrong to Work With More Then One Realtor?
Don't Have a Site Survey - Title Insurance - Should You Get It?
If you or someone you know is thinking of Buying or Selling property in Cultus Lake, Chilliwack, Hope, Abbotsford, Langley or anywhere in the Fraser Valley Area of B.C. - or if you would like more information please give Liz Moras of Landmark Realty Chilliwack a call at- 604-799-0459 or e-mail at lizmoras@gmail.com.
Copyright © 2009 By Liz Moras, All Rights Reserved. All photos taken by Liz Moras and copywritten. Please do not use without permission. Information provided by this author is only an opinion, it is not guaranteed, may be based on information collected from several sources, and may be time sensitive. It is not necessarily representative of the opinions of Landmark Realty Chwk. Ltd. 
Chilliwack Neighbourhoods - Promontory Houses for Sale
For many THE place to live in Chilliwack is Promontory! There's something about living on a hilltop and having an extraordinary view of the valley.....the mountains....the patchwork quilt of the farmland surrounding you, the gorgeous sunsets And the twinkle of night lights.
An on top of that ~ Promontory has the most amazing selection of homes~
If you're looking ~ come check these out!
Promontory Townhomes and Condos for Sale
And then Call me!
If you or someone you know is thinking of Buying or Selling property in Cultus Lake, Chilliwack, Hope, Abbotsford, Langley or anywhere in the Fraser Valley Area of B.C. - or if you would like more information please give Liz Moras of Landmark Realty Chilliwack a call at- 604-799-0459 or e-mail at lizmoras@gmail.com.
Copyright © 2009 By Liz Moras, All Rights Reserved. All photos taken by Liz Moras and copywritten. Please do not use without permission. Information provided by this author is only an opinion, it is not guaranteed, may be based on information collected from several sources, and may be time sensitive. It is not necessarily representative of the opinions of Landmark Realty Chwk. Ltd.
Interested in purchasing a Recreational property in B.C.? Enjoy the beauty of our natural wonders......Check out these Four Hot Spots!
Harrison Hot Springs - !Nestled against a mountain setting, and on the shores of one of our largest and most beautiful freshwater lakes, the Village of Harrison Hot Springs possesses the perfect blend of small town warmth, incredible natural beauty and absolutely endless outdoor adventure possibilities! Not to mention a perfect place to own a second home or waterfront property! Check Out: Interested in Buying a Home in Harrison Hot Springs, B.C.? The Sand Castle Capital of the World!
Kawkawa Lake is a gorgeous lake and community just outside of the City of Hope. It's about a 1.5 hour drive from Vancouver..and 30 minutes East of Chilliwack. Campgrounds, boat lunch and picnic areas...one of the best Kokanee fishing spots in the Lower Mainland all make this an idyllic place for your home away home! Looking for affordable Waterfront property or a Recreational Get-a-way? Look no further! Check out: Kawkawa Lake Hope, B.C. - Waterfront and Semi-Waterfront Properties for Sale.
Cultus Lake is one of my favorite places- 10 minutes from Chilliwack - its an easy mini-get-a-way. Even better - it's one of the few place left anywhere in the lower mainland or valley surrounding Vancouver - with affordable waterfront! Everything from cottage style, to villa's there's something sure to have you fall in love. Hiking, fishing, water-skiing, kayaking, you name it - its all here! Cultus Lake - Recreational & Waterfront Property Haven!
Sunshine Valley - A long time ago when I was going through a stressful time, a friend of mine gave me the keys to her getaway cabin............two days of weekend heaven, in what was then for me the unheard of Sunshine Valley! A sign marks the Valley as your heading from Hope(SV is located 19 km East of Hope) down the Hope Princeton Highway (or Crowsnest Hwy).......but for most of us it was a tiny blip on our radar and we drove right past it towards Manning Park Ski Resort or beyond. Looking for a getaway tucked in the mountains and only minutes away from a Ski Resort? Check Out: Looking for Recreational Property? Winter Getaway? Minutes from Manning Park Ski Resort - It's Sunshine Valley, B.C.!
Sunshine Valley - Hope, B.C. - A Little Bit of Sunshine !
If you or someone you know is thinking of Buying or Selling property in Harrison Hot Springs, Kawkawa Lake,Cultus Lake, Chilliwack, Hope, Abbotsford, Langley or anywhere in the Fraser Valley Area of B.C. - or if you would like more information please give me a call! Meeting Your Real Estate Needs is My Number One Goal!
Liz Moras of Landmark Realty Chilliwack @ 604-799-0459 or e-mail at lizmoras@gmail.com.
Copyright © 2009 By Liz Moras, All Rights Reserved. All information provided by this author is only an opinion, it is not guaranteed, may be based on information collected from several sources, and may be time sensitive. It is not necessarily representative of the opinions of Landmark Realty Chwk. Ltd.. 
15th annual REALTORS® Care Blanket Drive **November 30 - December 7, 2009. Every year, Lower Mainland REALTORS® organize a Blanket Drive to collect blankets and warm and/or waterproof clothing to help people in need stave off the winter cold and wet. Thousands of REALTORS® and members of the public generously donate to this worthwhile cause.
Last year there were 75 REALTOR® volunteer coordinators and over 100 real estate offices across the Fraser Valley and Greater Vancouver which served as drop-off locations to collect an astounding 4,000+ bags of blankets and clothing - bags the size of green garbage bags stuffed with donations.
In 2009, the Blanket Drive will run from Monday, November 30 to Monday, December 7.
Anyone can donate anytime during the campaign dates (during business hours) at one of 41 locations in the Fraser Valley .
If you or someone you know is thinking of Buying or Selling property in Cultus Lake, Chilliwack, Hope, Abbotsford, Langley or anywhere in the Fraser Valley Area of B.C. - or if you would like more information please give Liz Moras of Landmark Realty Chilliwack a call at- 604-799-0459 or e-mail at lizmoras@gmail.com.
Copyright © 2009 By Liz Moras, All Rights Reserved. All photos taken by Liz Moras and copywritten. Please do not use without permission. Information provided by this author is only an opinion, it is not guaranteed, may be based on information collected from several sources, and may be time sensitive. It is not necessarily representative of the opinions of Landmark Realty Chwk. Ltd.
You want to buy a house in Chilliwack and need a mortgage or want to remortgage your current home? Some people think their only option is to go to their local bank - preferably the one that already has their chequing account! However your options are much greater then that. Let's explore some of them :-)
1) Mortgage Lending Centres- are located in the larger metropolitan areas like Vancouver, and are used by the mortgage brokerage industry extensively. These types of lenders are policy and documentation driven with stringent policy standards. Rates are usually competitive.
2) Local Financial Institutions - these lenders are usually easier to deal with because they're local. These lenders are in a position to be more creative and are able to work with policy but are able to make exceptions within reasonable limits. They are also more in tune with the local markets and have the ability to approve those difficult deals without going to a head office.
3) Mortgage Investment Companies - these are large mortgage brokerage firms that manage and invest private funds on a large scale. They are easier to deal with however rates are usually higher and loan-to-values are usually much lower (75.0% or less) than the standard 80% through conventional sources. A good source when one does not qualify through the conventional lenders.
4) Private lenders - these are individuals that administer their own funds and use a mortgage broker to obtain/arrange their mortgages. All financing details are processed through the private investors notary or solicitor. Rates are established based on the clients circumstances but are within reason so that it is affordable to the borrower. Loan to value ratios are maintained at a very strict level of 75.0% or less depending on the deal. Brokerage fees are charged when private funding is used and these fees are payable to the mortgage broker and paid by the borrower from the mortgage proceeds.
Mortgage Brokers - can use any of the above resources and sometimes you'll find that the relationships they've developed within these various sources can help insure that you get get a better rate.
Remember! The posted Rate - is only the Posted Rate - typically you can negotiate, or competitively shop a better rate depending on your specific financial qualifications. But you do have to ask ~ in many instances you will not be offered the best rate available unless you ask!
What do These Mortgage Terms Mean?
*Amortization is the amount of time needed to reduce the loan to $0. A conventional mortgage is 25 years, but amortization can range anywhere from five to 35 years. The shorter the amortization, the higher your regular payments will be, but the less you'll pay in interest over the life of the loan. Generally, amortization is several mortgage term periods.
*The mortgage term is the period of time that the mortgage agreement is in effect. These typically run from six months to 10 years. At the end of the term, you will either repay the full mortgage amount, or the mortgage is renegotiated at then-current market rates and conditions.
*Another decision when deciding on a mortgage term is whether to have a fixed rate or a variable rate. With a variable-rate mortgage, the interest rate changes as the prime lending rate changes and they generally offer the lowest rates.
*With a fixed-rate mortgage, the interest rate is set for the length of the mortgage term. Fixed rates, while slightly higher, offer you the security of knowing how much you'll pay in principal and interest on each regular mortgage payment.
Payment frequency. You can choose to make your mortgage payments monthly, semi-monthly (twice a month), bi-weekly (every two weeks) or weekly. The bi-weekly and weekly payments can be accelerated allowing you to reduce your mortgage principal more quickly.
A down payment - The amount of your own money that you use to buy your home - often expressed as a percentage of the purchase price.
If you or someone you know is thinking of Buying or Selling property in Cultus Lake, Chilliwack, Hope, Abbotsford, Langley or anywhere in the Fraser Valley Area of B.C. - or if you would like more information please give Liz Moras of Landmark Realty Chilliwack a call at- 604-799-0459 or e-mail at lizmoras@gmail.com.
Copyright © 2009 By Liz Moras, All Rights Reserved. All photos taken by Liz Moras and copywritten. Please do not use without permission. Information provided by this author is only an opinion, it is not guaranteed, may be based on information collected from several sources, and may be time sensitive. It is not necessarily representative of the opinions of Landmark Realty Chwk. Ltd.
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Condo & Residential Specialist , Bringing 20 Years of Experience & Listening to Your Needs in the Chilliwack, Hope, Abbotsford and Langley areas!
Liz Moras ~ Chilliwack Realtor
For those of you who don't know me...a little about my background..... from a personal perspective. After all this is the "handshake".
..this is how YOU will base your First Impression of me!.....
This year is kind of an interesting Anniversary for me - it's been 20 years since this Chilliwack Realtor first got her Real Estate Licence! There I was sitting in my kitchen in Sechelt, on the Sunshine Coast..
.........expecting my 2nd child........thinking about my career options. I had graduated from Simon Fraser University with a degree Bachelor of Arts in Political Science, with intention of going to Law school...funny the roads that can lead us to Real Estate!.
But you know how life is sometimes.......we take circuitous routes to where we're going and often end up somewhere totally different! I married........and in an effort to support my husband in completing his education...I started working as a dispatcher with the RCMP. I worked with the RCMP in North Vancouver, and Sechelt, and with the City Police in Vancouver, and Abbotsford.
However sitting there in that kitchen that day, I decided a New Day was dawning.....a time from many new beginnings! You know how it is........one new beginning begets another and often a whole bunch of new beginnings all happen at the same time!
One thing that kept coming back to my mind was that not only in my 'family' ..but in my 'career' I truly wanted to "make a difference"......! Yes I wanted some flexibility in my schedule, because my 'family was' and always will be the most important thing in the world to me. But...
I had always been passionate about decorating and interior design.........My friends always said...that I had my new homes decorated before I even removed 'subjects'! Having moved many times in my life, I always knew the importance of creating a "home" no matter where the 'house' was, what it looked like, or how big or small, or expensive it was! I decided I wanted to share my knowledge and experience in a career that would impact people in an important way.
My experience, having bought and sold 11 homes up to that point, was that there was a real 'niche' opening in the "personal service ' side of Real Estate. With an emphasis on the word SERVICE & Relationship building! I knew who I wanted to be to for my clients in helping them 'find a home' and I wanted to be there to support them in both the challenges and adventures that were ahead of them!
So this was my Choice! To be a A Realtor thats was professional and knowledgeable but also caring and compassionate. One who saw my customers as 'individuals' with 'needs' and 'desires', 'dreams' and 'goals... rather then viewing them with $ signs in their eyes!
And you know what? Its been a remarkable journey! So it was in Sechelt that I received my Real Estate Licence ..........and 9 months later my husband had taken a transfer and I ended up in Langley, B.C. Rural, horse country! No malls, few plazas.........and 1 townhome complex........the one we bought it! A Life style change........definitely......and the more I thought about it I realized that 'townhome living' was going to be a 'boom' to our Industry......I became the Condo Townhome Specialist For Langley for 11 years. Now thats niche marketing for you!
Well I didn't stay there - I ended up taking up a wonderful challenge and opportunity by accepting a position as Broker for a Real Estate Company in Sunshine Valley - which sold 'recreational homes'...chalets and log homes.....
.Nestled between the mountains yards from the Infamous Hope slide, and minutes to Manning Park.......how much closer to Heaven on Earth could I get? Nevertheless all good things do end.........
In 2001 I moved to Chilliwack........and have been selling homes here for 8 years now!
A pristine valley surrounded by mountains on all sides...........1 1/2 hours from Vancouver................and minutes to everything else!
I feel I have worn many hats throughout my career!
(Actually I have a Hat collection!) This Realtor has been - the Professional, The Negotiator, The Contractor, The Carer, The Hand Holder, The Shoulder to Cry on, The Advisor, The Friend, the Babysitter, The Hairdresser, The Bartender (The Ear part!),The Decorator, The Story Teller, The Chauffeur, the Nanny, The Counsellor, The Designer, The Decorator, The Mitigator, The Reconciliator, The Economist, The Strategist, The De-Stressor, The Jane of Many Trades - but hopefully mostly I've made the 'trip' with them ....from Professional to new and lifelong Friend!
This August was my 20th anniversary of selling Real Estate! How exciting....! Its always interesting when people ask you what your area of expertise is? Its interesting how when you're passionate about something, something is close to your heart, or relevant to your own life experience - how easy it is to become an expert in that field or area!
I first began my Real Estate Career on The Sunshine Coast - in British Columbia.......Sechelt to be exact..........a beautiful seaside community, both rural and quaint, artsy and worldly all in one..........but primariliy a vacation home away from home location.......I've also worked in Sunshine Valley - in the mountains, next door to Manning Park Ski resort............so would that make me a recreational area home Expert? Possibly!.......:-)
I remember working in Langley almost 20 years ago when the first townhome complex EVER was being built in Walnut Grove - and we were wondering if it would take.......? I mean really - it was not the city core, primarily rural acreages...........Today you only have to drive through this phenomena of townhome development ..........hmmm I'm thinking it 'took'! For 11 years that was my specialty - 'townhomes' and 'apartments' an affordable, viable, lifestyle alternative to renting or owning higher maintenance homes.
Segway? Perfect ! Townhomes and condos became the perfect opportunity for first time buyers - or re-buyers - with the growth of single parent/ and single again parent families...empty nesters........paralleling my own personal life - this became the natural niche and a speciality. People I could identify with or that were close to my heart, people struggling with starting over, downscaling........or just overcoming hurdles...I could hold their hand - walk by their side and help them with their new beginnings.....
So when asked about specializing? At different times in my career there have been different areas that I've specialized it.......but really the bottom line is - People - I specialize in people - caring about listening to them, hearing where they're at, what their hopes and dreams are - and being a partner in helping them realize their goals... For This Chilliwack Realtor there is nothing more fulfilling then helping people find their homes, and helping them realize some of their dreams!
We are fortunate to have had Liz Moras representing us when we purchased our
Chilliwack townhouse. During the decision making stage we bombarded her with
multiple questions about the property. We can state from direct experience that
she answered all our questions and concerns truthfully and accurately.
During the contractual and purchasing process she worked diligently to ensure
that everything was occurring legally and with a minimum of concern to all
parties. When the legal reps of both parties miscommunicated on a minor issue,
she adeptly intervened to correct their misunderstanding.
Liz's affable nature, sustained patience and expert guidance were greatly
appreciated during our purchase and we are pleased and confident to recommend
her services to any prospective clients.
Yours Sincerely
Dennis and Morna Unger
"Dear Liz Thank you so very much for your assistance in selling my home in Chilliwack this past June. As you soon learned after our first phone call, selling my home and garden that I had put my heart into for seventeen years, and where I had raised my son, was emotionally difficult for me.
It was wonderful how you were able to see my home through my eyes and focus your advertising on the attributes of the property that I loved. You were able to pick up on my feelings and needs without me having to say much, and I appreciated that so much. You provided excellent advice as to repairs and clean-up prior to listing and you gave me the time to do the work with no pressure.
You were also very understanding about my son living there on his own during the time of the listing and sale. The listing price that we decided on, following your research into similar homes in the area was exactly right - neither too high nor too low. It made for a quick sale, which was what I needed. Thanks again, Liz. I will certainly be passing on your name to anyone I know who may be purchasing or selling a home. Sincerely yours, Jean Douglas-Webb "
- Jean Douglas-Webb
"Liz - Your professional service is very much appreciated. Beyond the call of duty! Keep it up and you can't miss! "
- G. Kellington
"It gives me a great pleasure to recommend Liz Moras as a most professional Realtor I've ever met. Her sincere advise and turbo fast services have impressed me so much. She is very friendly and helpful and her uttermost goal is client's happiness. Her organized manner of working and her knowledge transformed the house hunting for us from a very stressful task into a pleasant experience. Even after the deal was closed, Liz made sure that we were happy with the property we purchased. If we will sell our home I'll definitely go for Liz Moras as my Realtor. "
- Adriana and Peter Boldi
""I have nothing but great things to say about Liz, I have already referred several people to her and will not hesitate to continue doing so. Liz adds a personal touch to the stressful yet exciting challenge of looking for a home.. I was a first time buyer so I was just searching for homes and then would call the realtor to set up a time to view and went through several agents before I felt so very comfortable with Liz. She asked me what I wanted and that is what she showed me... and when we viewed homes she always had input and brought both negative and positive details to my attention. With Liz's help I ended up with the perfect home for myself. Liz is very personable as well as professional and has answered all my questions I had before the closing and continues to be a great source of information. Thanks for making my experience such an enjoyable (and profitable) one Liz!! " "
- Dayle Anne Geddes
"Liz Moras is an honest and forthright realtor. Her professionalism is made all the more attractive by her energy and creative sales strategies. She knows her stuff and will give anyone the very best service." "
- David Ortis
"I would have no hesitation in recommending Liz to my friends. She is warm and friendly, but very professional. She is well informed, knowledgeable, has an eye for detail about your home and listens to her client's needs whether buying or selling. "
- Trish and Sandy
"We have enjoyed working with Liz Moras on our real estate purchases. We have found her to be personable, conscientious, and dedicated to the best interests of her clients. She has an astute business mind and a wealth of experience that serve as an excellent resource for informed decision-making. We respect her expertise and tenacity, and appreciate her professionalism as well as her commitment to meeting our needs. We would be pleased to work with Liz again on future real estate purchases. "
- Irene and Eric Geng
"I really liked how Liz would get feedback from the the other agents and prospective buyers after each showing. Liz kept in touch with me, was always there to answer my questions and I was very happy to have her as my agent. I would definitely have Liz as my realtor again. "
- Sharon O'Toole
"Thank you so much for making the purchase of our new home such a wonderful experience. We appreciate your expertise, professionalism and personalized service. We would highly recommend your services to our friends and family. Best regards, "
- Lynn Tiffin
I went to Liz Moras to sell my commercial building because the other Realtors didn't seem too interested. When I approached them they said I could only get so much and that was that. I requested Liz take a look at it and she said if I wanted a certain amount for my building I would have to repaint, fix a few things and replace my tile floors. I figured you go to an electrician and he tells you want you need to do. You go to a realtor and she or he willl tell you what to do to have the sale. Liz then proceeded to take pictures and put my place on the market. She also e-mailed other Realtors and sent flyers out to people out of town that might be interested in this unique commercial building. She was actively showing my place right from the get go. I loved her professionalism and her straight forwardness, her integrity and enthusiasm. She is a mover and a shaker. She was very motivated to sell my property. She kept in contact weekly, sometimes daily to let me know what was so. I had several offers on my property, she coached me on what to do so that I could get the best price. I gladly paid the real estate fee, it was well earned and I appreciated that Liz made the sale seem effortless for me and my family. If we sell our home I will definitely have Liz sell it. We are looking now to buy another investment property and we are definitely using Liz. "
- Wendy Bergen
"I think you did a wonderful job and sincerely want to thank you for your efforts. I would not hesitate to recommend you."
- Bill Smith
"I wanted to say that we really enjoyed working with you, and would very much like to work with you again when we sell and move up."
- Marnie
"Just a quick note to say how much we appreciated your help in finding us a house after we emigrated to Canada from England last year. We realize now that we gave you an almost impossible task when we asked you to find us an acreage in our price range in the Agassiz area where we could keep animals, and that it was your professionalism and commitment to us as clients, together with your extensive knowledge of the local and regional market, that allowed us to find what we wanted. Thanks for sticking with us and saving us a lot of unnecessary stress during a busy period in our lives."
- Alix and Mark Robinson
" Hello Liz, I want to thank you for the great job you did in handling dad's property sale. Your compassion and keeness of mind in understanding the hesitancies of an elderly client, your patience and your professionalism were evident and most appreciated. Thank-you on behalf of may dad and myself for making the process least complex and so very manageable. very sincerely Saeed "
- Saeed Ghafari
"Liz, the world's a whole lot better place because of people like you. Thank you for your excellent service and we will always recommend you to our relatives and friends."
- Mr. & Mrs. Bohm
"To Liz Moras - Once on Chilliwack Mountain in the 'Trees Shade' - Liz sold our home, promises were made. She sold with enthusiasm, she sold it fast. Dealing with lawyers - brokers- consultants at last. Promises were made, Promises were kept. Poor Liz harly ever slept! So if you see this "online", give your home a "sine". She will sell it like mine! Don't ask why? Give her a try. Liz rhymes with "Promise". A special "Thank you" ! Thank you for the beautiful picture and verse. We will be reminded often of you and your hard work for us."
- Theresia and Hubert
"After reading the testimonials published on Liz Moras' Web Page I apologize for my repetitious comments.HOWEVER it does prove Liz works in a similar manner with each of her clients.She is extremely personnable, knowlegeable, honest, and very professional. My experience with Liz was over a six month period. My townhouse sold in 2 days by Liz Moras. I decided to buy in a new building .in which the construction was in its earliest stages, hence the 6-month wait to move in. Liz was "with me all the way" answering numerous questions with decisions in the various stages of building and moving in - decisions as to colours, flooring upgrades, appliances,, preparing documents to present and sign etc. etc. etc., She was always willing to find answers for me BUT ultimately she always left the final decision to me. Thank you Liz." Marion Chatfield
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