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Your neighbourhood Cultus Lake Real Estate Team + Co.

When you choose to work with Steven Van Geel on the purchase or sale of your Cultus Lake property, you work with all of us. We know the Cultus Lake demographic because we are it – living right here with you – and we also provide you with:

-local market insight
-10+ years industry experience
-network of buyers/sellers
-record high sale prices
-home staging
-professional photography + video
-content creation + media platform marketing
-personable approach (no suits at the lake )
-honest + reliable customer care
-family business
-continued friendship

HUGE ANNOUCEMENT FOR CULTUS LAKE

If you didn’t catch our social media announcement earlier this month (follow us @cultuslakerealestateteam), Steven Van Geel and his Cultus Lake Real Estate Team officially SOLD OUT of Creekside Mills at Cultus Lake!

Marketing and selling the 129 modern farmhouse community from start to finish was a surreal experience! It’s been rewarding to see that the stories we created for the community at its conception resonated with so many people wanting to be a part of its tale. 

We are graciously thankful for the opportunity and trust put in us to successfully market and sell nearly $100 MILLION IN REAL ESTATE! 

CANADA’S MORTGAGE STRESS TEST – JUNE 1st

What is it? It’s not really a test. It’s a set of rules banks must now use to determine if you qualify for a mortgage and, if so, how much you can borrow. 

Why Now? Because interest rates are crazy low, the government wants to ensure that you’ll still be able to afford your mortgage payments if and when rates rise.  

How Does It Work? Once you’ve applied for a mortgage, your lender looks at your credit score and offers you an interest rate based on that. However, under the stress test this rate won’t be used to determine your eligibility – it will be a much higher rate in order to prove that you can afford a higher payment should rates rise. As of June 1st, the minimum qualifying rate will be the higher of the following:  

• The rate offered by your lender based on your credit score plus 2%; or 

• 5.25% 

Is this a good or a bad thing? This test protects borrowers, like you, from defaulting on your mortgage and possibly losing your home in the future because you couldn’t afford higher payments. There is no way around it; if you have or plan to get a mortgage, the stress test applies to you.

  

CULTUS LAKE ROAD IMPROVEMENTS – SUMMER 2021

1. Cones- The orange cones are returning this year and
should be installed along the shoulder of the road before July 1st. 

  

2. Paving- Columbia Valley Highway (from Sleepy Hollow Road to the bottom of Frosst Road) will be paved this summer. The scope of work is expected to take around 2-3 weeks, paving Mon-Fri from 7am-7pm with the exception of long weekends.  

CULTUS LAKE STATISTICS

Here’s are breakdown for March 2021  

• Total sales: 22  

• Average price: $ 1,035,000  

• Average days on market: 3 

 

There are a total of 29* active listings in Cultus Lake  

• North End Cultus Lake – 15 active listings  

• South End Lindell Beach – 16 active listings (8 pre-sales offered by Creekside Mills)  

There was a 267% increase in total sales and a 60% increase in the average price over March 2020.

THE BUYER’S MISCONCEPTION

We’ve received an abundance of calls this month by disappointed buyers discovering that the properties they are interested in are already under contract or already sold within a day of hitting the market! 

It’s a misconception that buyers will save money by not hiring a local agent to help with their search. Not so, in fact, the opposite is true especially in today’s fast paced market. Working with local Realtors like us gives you better insight of the area in which you are looking to buy in – use this knowledge or you may find yourself overpaying, and more likely missing out on a property.  

If you are a buyer, call us! Let us know that you are in the market and get your foot in the door before it quickly closes.

   

CREEKSIDE MILLS AT CULTUS LAKE – FINAL RELEASE

Creekside Mills at Cultus Lake is gearing up to release its final 8 lots. This will be your last opportunity to join the most talked about agrihood, as well as choose from the selection of available home styles and finishes that best suit you.  

Lot locations, home styles, prices, previewing dates and selection dates will be shared with those who have registered ahead of notifying the public.  

Visit CreeksideMills.com or click HERE to register.