CONGRATS TO JOHN & TANEEM FOR BUYING YOUR FIRST HOME!!
Photo taken on their Possession Date (Feb 2011)
Archive for February, 2011
7849 Fraser St., Vancouver (1/2 Duplex in South Vancouver)
February 21, 2011 - Video Blog of 7849 Fraser St., Vancouver
Impressive 1/2 Duplex in South Vancouver!! 1718 sqft back unit on quiet side of duplex, rear fenced yard with large balcony. 3 bedrooms & 2 bathrooms UP & 3 bedrooms suite DOWN (Mortgage Helper). Shows exceptionally well, maple cabinets in kitchen, new paint, new hot water tank, in-floor radiant heating throughout, laminate floors on main, 9′ ceilings, gas fireplace, single car detached garage. Central location!! Close to major transportation routes, shopping & steps to public transit.
For more details click on the link below:
#413 225 Francis Way, New Westminster
February 21, 2011 - Video Blog of #413 225 Francis Way, New Westminster
The Whittaker. STUNNING TOP FLOOR SOUTHWEST CORNER UNIT LIKE BRAND NEW w/WARRANTY & NO HST! WOW the Best of the Best at Award Winning Victoria Hill built by Onni! This 2 bed/2 bath suite boasts gorgeous views which you can enjoy from your HUGE QUIET, 170 sqft Wrap around patio. Outstanding finishes include GRANITE kitchen & bath counters, High End Stainless appliances,Lots of windows to let in tons of light, tall & VAULTED 13 ft ceilings, low maint. fees & 2 PARKING SPACES!You’re next door to the amazing Amenity Bldg:”The Boiler House” w/an impressive gym, basketball,pool table etc.Close to Queen’s Park,shops & hop on the Shuttle to skytrain,the Quay,Uptown You’ll LOVE all that New West has to offer!
For more details click on the link below:
New Mortgage Rules March 18, 2011
- Reduce the maximum amortization period to 30 years from 35 years for new government-backed insured mortgages with loan-to-value ratios of more than 80 per cent. This will significantly reduce the total interest payments Canadian families make on their mortgages, allow Canadian families to build up equity in their homes more quickly, and help Canadians pay off their mortgages before they retire.
- Lower the maximum amount Canadians can borrow in refinancing their mortgages to 85 per cent from 90 per cent of the value of their homes. This will promote saving through home ownership and limit the repackaging of consumer debt into mortgages guaranteed by taxpayers.
- Withdraw government insurance backing on lines of credit secured by homes, such as home equity lines of credit, or HELOCs. This will ensure that risks associated with consumer debt products used to borrow funds unrelated to house purchases are managed by the financial institutions and not borne by taxpayers.
To read the full article go to http://www.fin.gc.ca/n11/11-003-eng.asp
Taken from the Department of Finance Canada, Ottawa, January 17, 2011
2011-003
Stability and regional ‘hot spots’ characterize January housing market
VANCOUVER, B.C. – February 2, 2011 – The Greater Vancouver housing market remained in balanced market conditions in January, although higher levels of buyer demand were seen in some of the region’s largest communities.
The number of properties listed for sale and those sold on the Multiple Listing Service® (MLS®) last month outpaced the 10-year average in both categories for January.
“There was a healthy balance between the number of home buyers and sellers in our market in January, but there’s always variation in activity from region to region,” said Jake Moldowan, president of the Real Estate Board of Greater Vancouver (REBGV). “We’re seeing strong sellers’ market conditions in areas like Richmond and the west side of Vancouver.”
Over the last 12 months, the MLSLink® Housing Price Index (HPI) benchmark price of detached homes increased 22.6 per cent in Richmond and 12.2 per cent in Vancouver West. In comparison, detached home prices across the region increased 2.7 per cent over the same period.
“When you’re looking to buy or sell a home, it’s important to familiarize yourself with the wider trends in the market. It’s equally important to seek out knowledge of your local area so you understand current market conditions in your neighbourhood,”
Moldowan said Looking across the region, the REBGV reports that residential property sales in Greater Vancouver reached 1,819 on the MLS® in January 2011. This represents a 4.2 per cent decline compared to the 1,899 sales recorded in December 2010, a decrease of 5.4 per cent compared to the 1,923 sales in January 2010 and a 138.7 per cent increase from the 762 home sales in January 2009.
Click on the link below for full Stats Package:
