Vancouver presale new condo projects canceled - 11/29/07 10:12 PM
Vancouver presale new condo cancelled A CBC News reported on November 27, 2007
Vancouver developer pulls out of condo projects due to financing difficulty Skyrocketing construction costs driven by Vancouver's sizzling real estate market have forced a developer to pull out of two projects worth $95 million. Developer Bill Eden, who owns The Eden Group, told CBC News that because of financing difficulty it's not possible for his company to finish the projects.
"The industry itself — very difficult to get financing," Eden said on Monday. "Basically, it's extremely uncertain whether I can actually complete that building."
That development project is … (0 comments)

Steveston Village Townhouses > Mariners Village - 11/26/07 04:52 PM
Steveston Vinnage: Mariners Village - 11291, 11391, 11491 7TH Ave.
General description:
This Steveston Village townhouse complex is around 30 years old and the units are consisted of 2-level 2 and 3 bedroom homes ranging in built-up area between 1,100 to 1,550 square feet of living area. This townhouse complex is popularly know as Mariners Village, and has different styles and floor plans.
The smaller units are with 1.5 bath, while the larger 3 bedroom units have 2 full baths and 1 half-bath. The parking arrangements for some units are open and other units are with one covered car porch. There … (0 comments)

Richmond Real Estate Tips - Bad Odor - 11/25/07 02:23 PM
Real Estate Tips - Getting ride of bad odor 
A musty odor coming from the basement or any part of the house is extremely unpleasant and will turn off buyers, or result in your house selling for less. No matter how clean your house is, a musty odor is a sign of dampness. Children living in a damp house are more likely to suffer from respiratory symptoms due to exposure to black mold emit toxins.
A damp house with mildews makes a home dirty. The first step is to find the source of dampness creating the musty odor. 1) Condensation Cold water … (2 comments)

BC Home Mortgage - BC First Time Home Buyer - 11/22/07 07:28 PM
A BC first time home buyer can buy with 5% down payment if he is qualified for CMHC or Genworth financing. If you are a first time home buyer, check out if you are qualified to withdraw your RRSP savings as down payment under the "home buyer's plan". In addition, you should find out for sure you are exempted from paying the British Columbia "property transfer tax".
When you are buying a home with less than 20% down payment, your mortgage is a high ratio mortgage. You are required to buy a home mortgage insurance to protect your mortgage lender against … (0 comments)

Are you buying a small business or buying yourself a job? - 11/21/07 02:06 PM
Most people who are buying a business fail to realize that buying a business is like buying a job. Any potential business owner must consider seriously "working for others" is a better option most of the time. When working for others, there are little or no problems or headaches associated with operating a business. Being an employee also takes care of medical and insurance coverage expenses that a business owner would otherwise has to provide to his family.
Taking the first step
For people who strongly wanting to own and operate their own businesses, getting the help from a Realtor who … (0 comments)

Buying a home through your local Richmond BC Realtor - 11/19/07 09:09 PM
Why you should use a local Richmond BC Realtor when buying your home in Richmond?
If you know what you want to buy, we can help you to identify the property, negotiate the price and assist you in closing the deal. We strive to make your buying experience more pleasant and less stressful. There are compelling reasons why home buyers should have their Buying Agents to represent them. The loyalty and best interest of a home buyer can only be provided by his Buyer Agent.
With my 18 years of real estate experience, I can guide you through the whole process … (0 comments)

Richmond Townhouses - 6871 Francis Rd & 6880 Lucas Rd - 11/19/07 07:41 PM
General description:
This townhouse complex is around 30 years old and the units are consisted of 2-level 3 bedroom homes ranging in built-up area between 1,400 to 1,605 square feet living area. The townhouse units have different floor plans; most units are with 1 full bath and 2 half-bath, while some larger 3 bedroom units may have 2 full baths and 1 half-bath. The parking arrangement is one covered front car porch and there are extra open parkings available in the complex. The property tax for 2007 is from around $1,667 to $1,809 and the monthly maintenance is from $216 to … (0 comments)

Walk Score - how walkable is the home you listed for sale? - 11/15/07 07:35 PM
A fellow Richmond BC Realtor Jay Banks at Re/Max Crest Realty shared his "Walk Score" discovery on a Vancouver Blog that I stumbled upon. I am not sure if this gadget has been introduced to AR members by someone else before.   
It is called Walk Score. It helps people find walkable places to live. Walk Score calculates the walkability of an address by locating nearby stores, restaurants, schools, parks, etc. Try this out with your own address and see how walkable is your address or try this on one of your listings.
… (4 comments)

Vancouver Housing Market - 11/14/07 02:17 PM
Over supply of new condos?
Some real estate analysts have expressed concern regarding the over supply of new condominium in Greater Vancouver, especially in downtown core. There are literally billions of dollars worth of new apartments slated for completion over the next 3 years.

Expensive homes...low rental return
Currently, homes bought for investment are expensive for investors. The average rental incomes for all types of residential dwellings are not in line with mortgage payments. Investors lose money every month as rental income is not sufficient to cover mortgage payments, maintenance and taxes.
Why investors are still buying?
The answer is … (0 comments)

Vancouver Leaky Condos - Part Two - 11/14/07 01:50 PM
Vancouver leaky condos are costly to fix
According to an estimate by the British Columbia's Homeowner Protection Office, there is a total of about 65,000 dwellings in British Columbia that are "leaky condos". As of 2002, 50,000 of them had been identified. The cost to a home owner for complete remediation with "rain screen technology" may be from $25,000 to $60,000.
In spite of all the safe guards and disclosures required since 2000, a home buyer cannot be 100% certain that he or she is safe from buying a condo with water-damaged problem. The strata meeting minutes of a strata corporation … (0 comments)

Vancouver Leaky Condos - Part One - 11/14/07 01:45 PM
Buyer beware
When buying a Condo or town home, home buyers are advised to carefully review the strata minutes, property disclosure statement and Form B. In spite of home buyers' careful review of all relevant documents and inspection by professional home inspectors, many still ended up buying condos that are leakers.
There are many instances of condos that are suspects, but water-damaged problems in the buildings not being confirmed by engineering report. Meanwhile, patch-work repairs may have temporarily minimized the water ingress problems. Without a comprehensive investigation by a building envelope engineer, no one can be sure whether a building is … (0 comments)

Richmond Townhouses - 5740 Garrisaon Road, Richmond, BC - 11/13/07 07:31 PM
General description:
This townhouse complex is around 20 years old. This is a 3-level townhouse complex ranging in size from just over 1,600 to 1,715 square feet of living area with 3 bedrooms and 2.5 baths. The parking arrangement is one or 2 covered garage(s). The property tax for 2007 is around $1,800 and the monthly maintenance is around $165.
The strata management and general up-keep by the owners of 8431 and 8531 above average.
Location:
The townhouse complex is located in Richmond’s “Riverdale” area. Access to the townhouse complex from the city is via Granville Road and No. 2 Road. … (0 comments)

Richmond Townhouses - 7360 Minoru Blvd, Richmond BC - 11/13/07 07:24 PM
General description:
This townhouse complex is around 20 years old. This is a 2-level townhouse complex with average built-up area around 1,450 to 1,500 square feet of living area with 3 bedrooms and 2.5 baths. The parking arrangement is one covered car-porch and one open parking spot. The property tax for 2007 is around $1,860 and the monthly maintenance is around $120 (self-managed).
Location:
The townhouse complex is located in Richmond’s “Brighouse South” area. Access to the townhouse complex from the city is via Granville Road and No. 3 Road. Both elementary and secondary schools are within a short walk from … (0 comments)

Richmond Townhouses - 11771 Kingfisher Road - 11/13/07 07:18 PM
General description:
This townhouse complex is around 34 years old. These townhouses are seldom available for sale. Each unit is consisted of around 1,550 square feet of living area with 3 bedrooms and 2.5 baths. The parking arrangement is 2 covered car porches. The property tax for 2007 is around $1,800 and the monthly maintenance is around $220.
The strata management and general up-keep of this townhome complex are above average. This is a children friendly environment whereby your young children will have many young friends to pay with in this complex.
Location:
The townhouse complex is located in Richmond’s “Westwind” … (0 comments)

What to look for when buying your condo? - 11/12/07 09:56 PM
Condo living is the most likely choice for most young first time home buyers. The main reason if because of affordability and for some people it is a lifestyle choice. Most people are realistic that buying a condo is a stepping stone for them to own their first homes. They know that a condo will be good enough for them to live and have a small young family for the first few years. They are hoping that by the time they need to move to a larger home, they will have enough equity to do so.Condo LocationThis is one of the … (0 comments)

Buy or sell first? - 11/10/07 09:59 PM
It's very common that a home owner is selling his present home and buying another home in the process. Buying or selling first becomes a tricky problem to solve. The most practical way to solve the problem is to sell and buy at the same time. "Pricing your house fairly" is important if you are expecting to sell your home within 30 - 60 days of listing. There are some basic house keeping and home preparation works that are needed to be done to present your home for sale. Click here to follow the link on preparing your home for sale.
… (0 comments)

Richmond Townhouses - 3880 Westminster Hwy - 11/10/07 03:17 PM
General description:
This townhouse complex is around 10 years old, and the townhouse units are consisted of 3 level homes ranging in built-up area between 1,540 to 1,620 square feet of living area. The townhouse complex has a good range of 3 and 4 bedroom units with 3 and 2.5 baths. The parking arrangement is two covered attached garages. The property tax for 2007 is from around $2,200 and the monthly maintenance is from $190 a month.
Location:
This townhouse complex is located in the very desirable and newer Terra Nova sub-division in North West corner of Richmond. Home owners are … (0 comments)

Why autumn is a good time to buy your home? - 11/10/07 01:07 PM
There are 2 time periods of the year that are good for listing and selling your homes. Historically, early spring and mid-summer are the most active period and best time for sellers listing their properties for sale. These time periods co-incide with better weather conditions and homebuyers planning to make a move before the new school term starts in September.Conversely, Autumn being perceived as slower months with less buying and selling activities may prove to be the best time for homebuyers to buy their homes. At this time with relatively less activities, sellers are more likely to reduce their listing prices … (0 comments)

Vancouver housing market - 11/09/07 10:40 PM
 
Taking a pause?
Is Vancouver's detached house price in October taking a pause before heading up higher as in December 2006 and January 2007? Or, is this the top of the Vancouver housing market? The Calgary and Edmonton housing markets had already stalled for the past 3 months with declining sales volumes. The Canadian 6 cities pricing trends as presented by Brian Ripley can be viewed here.
Brian's scorecard statistics for Calgary and Edmonton are showing deterioration in the housing market in these 2 cities. Could October be the month that Vancouver too follows Calgary and Edmonton reversing its … (0 comments)