I get asked this question a lot. The Golden Ears Bridge and Pitt Meadows Bridge will improve transportation system of Maple Ridge and Pitt Meadows communities tremendously. It will be much easier to get to Langley, Surrey and Tri-Cities consequently to Vancouver. For the up-to-date information on the bridges please visit my Maple Ridge Real Estate website. Will the real estate prices jump? I think home prices in Maple Ridge and Pitt Meadows areas have already gone up in the anticipation of bridges to be constructed. I know a lot of people who have invested in Real Estate in the area a couple of years ago thinking they can make some profit once the bridges are complete. Well, guess what? We’re in the dropping market place and it does affect Maple Ridge and Pitt Meadows real estate markets as well. But prices may not be going down here as much as if they could have if the construction of the bridges was not in process.
Once the bridges are complete I think we’ll see a lot of demand for housing in Maple Ridge and Pitt Meadows. A lot of people do not believe it until they actually see it and feel it. When bridges come to our area the traffic will improve significantly between Maple Ridge, Pitt Meadows, Surrey and Langley. We’ll see a great amount of traffic being diverted from the Port Mann Bridge via Mary Hill Bypass to the Golden Ears Bridge. All the trucks that are taking the Port Mann bridge to Highway 1 right now will be using Golden Ears Bridge. Pitt Meadows bridge will be a non-stop 7 lane bridge that will eliminate all the congestion in the rush hours time. So what will really happen to the Real Estate market here? I think we’ll see a great demand for homes here from people moving from Langley and Surrey areas. The average residential detached price in Langley for October 2008 is $500,000, when the average house price in Maple Ridge is around $430,000 at the same time. People can sell home in Langley and Surrey for $0.5 Million, buy home in Maple Ridge for $70,000 less and end up with extra money in the pocket. But like I have mentioned before unless the bridges are complete not many people will be doing it. Once the bridges are up and running Maple Ridge and Pitt Meadows will see an increased demand in housing, which may stop prices dropping.
The talk in town is that because of the improved transportation system in the area Maple Ridge’s prices will be 10-20% higher than in the rest of the Lower Mainland. If Greater Vancouver’s prices go up, the prices in Maple Ridge will go up 10-20% more than those and if the prices go down our house prices will still drop less by 10-20% than in the rest of the Lower Mainland. The other great thing is that Maple Ridge has a lot of land to offer for the future residential development. Some part of the Thornhill Area is in the Urban Reserve which means the land is approved for future residential development once the population of Maple Ridge reaches 100,000 population mark. It’s expected to happen within next 10-20 years. Right now, Maple Ridge’s population is around 70,000 people. The shopping is also coming to Maple Ridge. We might see a new shopping center in the Albion Flats or a revitalised downtown, or both.
So, if you want to be ahead of the game and buy while Maple Ridge is still enjoying high levels of inventory and great prices, there has never been a better time than today. Take advantage of the buyer’s market. Maple Ridge is for sale now. At the end of the day, Lower Mainland has the most favourable climate in all of Canada. And if you’re a winner by nature you can’t let this opportunity to go past by you. For all your Real Estate needs call an Outstanding Agent for Outstanding Results today. Call Olena today at 778.991.3293 or visit http://www.olenaosipov.com
