Geraldine Santiago's Blog

Volunteer: It's Not Always About Real Estate by Geraldine Santiago

Geraldine Santiago, Geraldine Santiago (RE/MAX Crest Realty (Westside)) — Thu, 24 Feb 2011 21:11:06 -0800

Volunteer: It's Not Always About Real Estate by Geraldine Santiago

Last week, I spent an afternoon with a Grade 3/4 class in Richmond, BC. I was the 'art teacher' for the afternoon at Garden City Elementary where I helped some twenty-five students make an early Mother's Day surprise by drawing on canvas. It was a success!! I know it's rather early to be starting on Mother's Day projects, but it was something I wanted to do. That is, I wanted to share my passion, which is painting!

Our subject piece was a vase of flowers, but the students came up with their own variation on the theme. As you can see from the paintings below, the students were truly inspired!

I love volunteering this way! It's really not always about real estate!

We've Come a Long Way.....by Geraldine Santiago

Geraldine Santiago, Geraldine Santiago (RE/MAX Crest Realty (Westside)) — Thu, 24 Feb 2011 19:56:50 -0800

We've come a long way.....but we still have work to do! by Geraldine Santiago

Published Author, Licensed Real Estate Agent

In 2005, the Real Estate errors and omissions insurance corporation sent out a newsletter siting 2005's Five Most Expensive Claims. They were no final occupancy permit, no permit regarding townhouse renovation, no refund for life leases, easement was not disclosed and condition of the property was misrepresented.

Fast forward to 2010, the five top most expensive claims are non-disclosure (limited dual agent) failed to disclose and misrepresented the boundaries of a property, non-disclosure failed to disclose encrachments and misrepresented the size and boundaries of a property, negligent drafting (limited dual agent), non-disclosure (seller's agent) failed to disclose slope of instability and erosion problems and non-disclosure (limited dual agent) failed to disclose water ingress problems in a leaky condo.

For buyers and sellers alike, obtain third party advice as soon as possible! Retain the services of a lawyer, obtain your own agent to represent your best interests, and obtain title insurance. The cost for title insurance is minimal which can provide the buyer with peace of mind!

Volunteer: It's Not Always About Real Estate by Geraldine Santiago

Geraldine Santiago, Geraldine Santiago (RE/MAX Crest Realty (Westside)) — Thu, 25 Nov 2010 14:50:57 -0800

It's not always about real estate......by Geraldine Santiago

Yes, i know...I'm a real estate agent, but one of my passions is painting! I paint for fun and for my friends and family! I've been fortunate enough to teach at an elementary school many years ago, receiving a grant from the government on a project called, "Art Starts in Schools" and i was their resident artist at the East Hastings Elementary school.

My sister has asked me to help her class learn a little bit about art. I've volunteered to help her 21 or so elementary school students with their artwork. Painting with acrylics. Modernism, multiculturalism and melange. It's not always about real estate. Here is a sampler:

Don't buy real estate in Vancouver, BC Before Attending This Home Buying Seminar!

Geraldine Santiago, Geraldine Santiago (RE/MAX Crest Realty (Westside)) — Sun, 31 Oct 2010 21:44:44 -0700

Don't buy real estate in Vancouver BC Before......by Geraldine Santiago

www.vancouverhomes.info

Don't buy real estate in Vancouver BC before attending this home buying seminar! Buying a home is one of the biggest financial investment one will make, financially and maybe even emotionally. Whether you are a veteran or a novice, buying a home can be intimidating and worrisome. Understanding the buying process can give you the confidence you need to make the right decisions.

Geraldine Santiago, author of the Complete Home Buyer's Guide for Canadians" is written by an experienced real estate agent who specializes in working with first time home buyers. The book is written in an easy-to-iunderstand manner, guiding the home buyer from obtaining financing to the final paperwork.

Seminar experts will discuss: Where can I get a mortgage? What is the difference between a loan's officer and a mortgage broker? What kind of interest rates can I expect? What is better for me--fixed or variable? What are the costs involved in buying? What is a fair price when I place an offer? Can I hire a lawyer to read over the documents for me?

Attend our next home buying seminar November 25th, 2011 from 7-9pm. Register on-line: Email: charlaynemallare@yahoo.com Register before November 19th and receive a free buyer's package!

MLS and Mapping, Save Time & Money by Geraldine Santiago

Geraldine Santiago, Geraldine Santiago (RE/MAX Crest Realty (Westside)) — Wed, 20 Oct 2010 15:29:41 -0700

Maps and MLS, Save Time and Money by Geraldine Santiago

Information for Buyers: www.vancouverhomes.info and www.bchomebuyer.ca

Many years ago, I used a tool on my hand held phone called "GeoJet" e-mapping. (www.e-mapping.com through GeoJet Information Solutions Inc.) This was a great tool for real estate agents, especially those who specialized in buyers, because it provided potential home buyers with a directional map on my hand held phone, showing not only the precise location of the listing property, but other information on the MLS such as the price, number of bedrooms and bathrooms, etc.

My hand held was a Siemens SX56 which was a pocket PC phone offered through my real estate board, the Real Estate Board of Greater Vancouver.This service was invaluable, especially because it showed nearby schools, churches, hospitals, parks and shopping centres and more! A potential purchaser, while on a tour with me, could see all these features on my hand held phone, or I could also email them the directional map.

Unfortunately, today, this service is no longer available through my real estate board. It is, however, available if you have an iphone. A potential buyer will have to subscribe to get it through a real estate agent or consultant who has this feature on his/her website. If you'd like to try it out, please go to my website at www.bchomebuyer.ca --it is free of charge as well!

One can see first hand how amazing this tool is for potential buyers and real estate agents alike. Now, potential buyers can look and tour on their own time some of the areas, and communities. They can see the MLS listing for themselves if they were to drive by an area or neighbourhood. It's a great way for potential buyers to get pro-active in their home search and determine whether or not a community or neighbourhood is right for them.

FREE Home Buying Seminar in Filipino, February 16, 2011 Vancouver BC

Geraldine Santiago, Geraldine Santiago (RE/MAX Crest Realty (Westside)) — Wed, 20 Oct 2010 13:44:32 -0700

FREE Home Buying Seminar in Filipino, Vancouver, BC

Date: February 16, 2011

Where: Dunbar Community Centre

Time 7-9pm

Are you a caregiver or new immigrant wanting to know about the housing market in Vancouver? Have you ever wondered if you can afford to purchase a home of your own? What about improving your credit score and saving for a down payment? Do you have an RRSP through your employer? If you are interested in home ownership, this course is for you. Filipina Geraldine Santiago is a published author and licensed real estate consultant. She and her team of experts will explain to you the benefits of home ownership and how to get there, as well as explaining how first time home buyers can avail of local and provincial tax exemptions, credits, and more. Some topics to be discussed are:

What does forced savings mean for me?

What are some of my options?

How can I afford to buy my own property?

What are some of the incentives for me?

Can I co-own a property?

This course is free but registration is required. Register early as space is limited: www.dunbarcc.com

Course language: Filipino

Grants, Rebates, Credits and Deferment Programs for (First Time) Home Owners by Geraldine Santiago

Geraldine Santiago, Geraldine Santiago (RE/MAX Crest Realty (Westside)) — Thu, 14 Oct 2010 12:46:35 -0700

Grants, Rebates, Credits and Deferment Programs for Home Owners by Geraldine Santiago

The programs and incentives listed below are designed to help first time home buyers and owners by offering rebates, grants, credits, and deferment programs for those who qualify.

1. Home Buyers’ Plan
Qualifying homebuyers can withdraw up to $25,000 (couples can withdraw up to $50,000) from their RRSPs for a down payment. Homebuyers who have repaid their RRSP may be eligible to use the program a second time. (Go to www.cra.gc.ca, enter "Home Buyers’ Plan" in the search box or, phone 1.800.959.8287.)

2. GST Rebate on New Homes
New homebuyers can apply for a rebate of the federal portion of the HST (the 5% GST) if the purchase price is less than $350,000. The rebate is up to 36% of the GST to a maximum rebate of $6,300. There is a proportional GST rebate for new homes costing between $350,000 and $450,000. (Go to www.cra-arc.gc.ca, enter "RC4028" in the search box or, call 1.800.959.8287.)

3. BC New Housing Rebate (HST)
Buyers of new or substantially renovated homes priced up to $525,000 are eligible for a rebate of 71.43% of the provincial portion (7% of the 12% HST) paid to a maximum rebate of $26,250. Homes priced at $525,000+ are eligible for a flat rebate of $26,250. (Go to http://hst.blog.gov.bc.ca/faqs/new-housing-rebate or, call 1.800.959.8287)

4. BC New Rental Housing Rebate (HST)
Landlords buying new or substantially renovated homes are eligible for a rebate of 71.43% of the provincial portion of the HST, up to $26,250 per unit. (Go to http://hst.blog.gov.bc.ca/faqs/new-housing-rebate or, call 1.800. 959.8287.)

5. Property Transfer Tax (PTT) First Time Home Buyers’ Program
Qualifying first-time buyers may be exempt from paying the PTT of 1% on the first $200,000 and 2% on the remainder of the purchase price of a home priced up to $425,000. There is a proportional exemption for homes priced up to $450,000. (Go to www.rev.gov.bc.ca/rpt or, call 250.387.0604.)

6. First-time Home Buyers Tax Credit (HBTC)
This is a non-refundable income tax credit for qualifying buyers of detached, attached, apartment condominiums, mobile homes or shares in a cooperative housing corporation. It’s calculated by multiplying the lowest personal income tax rate for the year (15% in 2009) by $5,000. For 2009, the maximum credit was $750. (Go to www.cra-arc.gc.ca/hbtc or, call 1.800.959.8281.)

7. BC Home Owner Grant
Reduces school property taxes by up to $570 on properties with an assessed value up to $1,050,000.
For 2010, the basic grant is reduced by $5 for each $1,000 of value over $1,050,000, and eliminated on homes assessed at $1,164,000+. An additional grant reduces property tax by a further $275 for a total of $845 for seniors, veterans and the disabled. This is reduced by $5 for each $1,000 of assessed value over $1,050,000 and eliminated on homes assessed at $1,219,000+. (Go to www.rev.gov.bc.ca/hog or, your municipal tax office.)

8. BC Property Tax Deferment Programs
Property Tax Deferment Program for Seniors Qualifying home owners aged 55+ may be eligible to defer property taxes. Financial Hardship Property Tax Deferment Program Qualifying low-income home owners may be eligible to defer property taxes.
Property Tax Deferment Program for Families with Children Qualifying low income home owners who financially support children under age 18 may be eligible to defer property taxes. (Go to www.sbr.gov.bc.ca, enter "Property tax deferment" in the search box or, call your municipal tax office.)

9. Canada Mortgage and Housing (CMHC) Residential Rehabilitation Assistance Program (RRAP) Grants
This federal program provides financial aid to qualifying low income homeowners to repair substandard housing. Eligible repairs include heating, structural, electrical, plumbing and fire safety. Grants are available for seniors, persons with disabilities, owners of rental properties and for the creation of secondary and garden suites. (Go to www.cmhc-schl.gc.ca/en/co/prfinas/prfinas_001.cfm, or, call 1.800.668.2642 or 604.873.7408.)

10. CMHC Mortgage Loan Insurance Premium Refund
Provides homebuyers with CMHC mortgage insurance, a 10% premium refund and possible extended amortization without surcharge when buyers purchase an energy efficient home or make energy savings renovations. (Go to www.cmhc.ca/en/co/moloin/moloin_008.cfm#reno or, call 604.731.5733.)

11. LiveSmart BC: Efficiency Incentive Program
Homeowners improving the energy efficiency of their homes who hire a certified energy advisor may qualify for cash incentives through this provincial program provided in partnership with Terasen Gas, BC Hydro, and FortisBC.(Go to www.livesmartbc.ca/rebates or, call 1.866.430.8765.)

12. BC Residential Energy Credit
Homeowners and residential landlords buying heating fuel receive a BC government point-of-sale rebate on utility bills equal to the provincial component of the HST. (Go to http://hst.blog.gov.bc.ca/faqs/energy-credit or, call 604.660.4524.)

13. BC Hydro Appliance Rebates
Mail-in rebates of $25-$50 for purchasers of ENERGY STAR™ clothes washers, refrigerators, dishwashers, or freezers between June 1, 2010 and March 31, 2011, or when funding is exhausted. (Go to www.bchydro.com/rebates_savings/appliance_rebates.html or, call 1.800.224.9376.)

14. BC Hydro Fridge Buy-Back Program (different from Appliance rebates)
This ongoing program rebates BC Hydro customers $30 to turn in spare fridges measuring 10-24 cubic feet in working condition. (Go to www.bchydro.com/rebates_savings/fridge_buy_back.html or, call 604.881.4357.)

15. BC Hydro Mail-in Rebates/Savings Coupons
BC Hydro offers rebates including 10% off an ENERGY STAR™ cordless phone; 50% off an E2TM dual-flush toilet; $15 off a clothes drying rack; and 50% off Earth Massage showerheads. Check for deadlines. (Go to www.bchydro.com/rebates_savings/coupons.html or, call 1.800.224.9376.)

16. Terasen Gas Rebate program
Rebates for homeowners include a $25 gift cards for furnace servicing; $50 rebates for upgrading a water heater; $150 rebate on an EnerChoice fireplace; $1,000 rebate for switching to natural gas and installing an ENERGY STAR heating system. (Go to www.terasengas.com/homes/offers/lowermainlandsquamish.html or, call 1.888.224.2710.)

17. SolarBC Incentives
Contractors will provide homeowners buying a solar hot water system with a $2,000 discount at the point of sale until December 31, 2010. (Go to www.solarbc.ca/learn/incentives-costs or, call 1.866.650.6527.)

What IS and ISN't included in a purchase price of a condo? by Geraldine Santiago

Geraldine Santiago, Geraldine Santiago (RE/MAX Crest Realty (Westside)) — Thu, 14 Oct 2010 12:01:51 -0700

First time home buyers- What exactly is included in the purchase price of a condo? by Geraldine Santiago, Published Author, Licensed Real Estate Consultant

When buying your first home, first time home buyers are always looking at the price of the unit of the condominium or strata titled property like a townhome, for instance. They overlook that they are buying the fixtures as well such as the window treatments, dishwasher, washer and dryer and all things that are affixed to the unit like cabinetry, lighting, fireplaces that are affixed to the wall, baseboard heaters, etc.

Included in the purchase price of the unit, in many cases, is the parking space(s) and/or storage space(s). As a first time home buyer, make sure that this information is included in your contract of purchase and sale. Most likely, your lender will also be interested with this information.

Parking spaces, especially in downtown Vancouver, where they come at a premium, however, might not always be included in the purchase price. Are there one, or two? Or none? This makes a big difference when it comes to owning a condominium in the heart of Vancouver. Make sure you find out from the listing agent and double check with the strata information that are given to you and include this in your contract of purchase and sale because you will be relying on this long after you have moved into your property.

The Importance of MLS Accuracy by Geraldine Santiago, Licensed Realtor and Published Author

Geraldine Santiago, Geraldine Santiago (RE/MAX Crest Realty (Westside)) — Wed, 06 Oct 2010 15:12:39 -0700

The Importance of MLS Accuracy by Geraldine Santiago

All first time home buyers rely on MLS listings for its accuracy for much needed information. When the accuracy of the information is either out of date, or if the information is misprinted through human error, or if the information is incomplete, this could eventually create a problem down the road. Many first time buyers look at the cost of purchasing which includes the monthly maintenance fees in strata titled properties. If there is an increase in the maintenance charges and the MLS listing was not updated, (especially for listings which have been on the market for a while) this could potentially cause to buyers to back down from their offer.

Other information that buyers rely upon:

square footage

locker number

parking lot number and quantity

restrictions (pets, rentals)

tax information

zoning

warrantee information

Buyers try to do their own due diligence when it comes to purchasing and getting information on the property they are thinking of purchasing, but it is important to provide them with up to date and accurate information.

First Time Home Buyer Seminar: October 5, 2010, Vancouver, BC 2 more spots left

Geraldine Santiago, Geraldine Santiago (RE/MAX Crest Realty (Westside)) — Wed, 29 Sep 2010 12:15:12 -0700

First Time Home Buyer Seminar; October 5, 2010 False Creek Community Centre, 2 more spots available

Buying a home is probably the largest investment you will ever make, financially and maybe emotionally. Whether you are a veteran or a novice, buying a home can be intimidating and worrisome. Understanding the buying process can give you the confidence you need to make the right decisions. If you are thinking of purchasing your first home, but don't know where to start, this FREE seminar if for you. Designed with today's consumer, guest speakers will provide tips, resources, links and guide you along the way to home ownership!

Geraldine Santiago, author of the "Complete Home Buyer's Guide for Canadians" is an experienced real estate agent who specializes in working with first-time home buyers. Guest speakers include Alma Pasic, mortgage broker, Glenn Duxbury certified home inspector and Ron Usher of Bell Alliance.

Some of the questions we answer are: Where can I get a mortgage? What kind of interest rates can I expect? What is better-- fixed or variable? What is my borrowing capacity? How do I make an offer?

Register on-line at www.falsecreekcc.ca. There are only two more space left and our next seminar is in the winter 2011 on January 26, 2011 at the Renfrew Community Centre. Please register on-line at www.refrewcc.ca.

FREE First Time Home Buyer Seminar, October 5th, 2010

Geraldine Santiago, Geraldine Santiago (RE/MAX Crest Realty (Westside)) — Wed, 29 Sep 2010 00:10:18 -0700

FREE first time home buyer seminar, October 5th, 2010

False Creek Community Centre, 7-9pm

Have you ever thought of purchasing your very first home but don't know where to start? Buying a home is the biggest financial investment one can make in one's lifetime and knowledge is empowering! Get all the tools you need before you purchase your first home. Geraldine Santiago, published author of the "Complete home Buyer's Guide for Canadians" and licensed real estate agent along with a mortgage broker, a certified home inspector and lawyer will show you the way in this free two hour home buying seminar. How much do I qualify? How much will it cost me to purchase? What about leaky condos? At what point do I need a real estate agent? What is a contract? How will I know when it's the right time to purchase a home? Where is the market going?

Next seminar: Renfrew Community Centre, January 26, 2011, 7:30-9:30pm

What to Expect When BUYING YOUR FIRST HOME

Geraldine Santiago, Geraldine Santiago (RE/MAX Crest Realty (Westside)) — Tue, 03 Aug 2010 09:15:20 -0700

What to Expect When BUYING YOUR FIRST HOME

By Geraldine Santiago

Author, Realtor Vancouver, BC

What to expect when buying your first home?

Attend my home buying seminar in Greater Vancouver and find out what you need to know about buying your home before you buy. Buyers today need to know about housing market conditions, interest rates, forecasts, trends, market cycles and so on. Get information first hand from experts in the housing industry. A mortgage broker, lawyer, certified home inspector and realtor will help provide you with resources, tips and information free of charge.

Go to www.vancouverhomes.info for a list of seminars in your area. Registration is limited, sign up today!

You're Invited to Help Empower the Homeless Fundraiser

Geraldine Santiago, Geraldine Santiago (RE/MAX Crest Realty (Westside)) — Wed, 16 Jun 2010 15:35:35 -0700

"Cypress on a Hill"

36x36 Acrylic on Canvas

Hello All Activerain members!

I'd like to invite you to help empower the homeless at a fundraiser event on Friday, June 25th, from 6-10pm in Vancouver, BC at Gallery Gachet on 88 East Cordova Street.

CFFS’s vision statement is to provide opportunity and support for homeless, recovering people (mental affliction and/or physical addiction), and other marginalized or needy groups in Canada; and we accomplish this via donated potted plants and cut flowers.

Another successful CFFS program being offered to seniors and people undergoing psychosocial rehabilitation (the MPA Society) is called the Office Floral Outreach Program where our volunteers provide donated flowers and expertise to seniors (floral classes) at their home (group residence) or mental health organizations to create floral arrangements or decorate potted plants for local offices and businesses in exchange for donations of any size.

Since 2005 CFFS has been delivering these collected flowers to other charitable programs including the Mom Agape Street Ministry for Homeless persons who use the flowers on the streets in exchange for monetary donations to eat and live.

The CFFS Street Level Program utilizes floral discards destined for regional landfills. In 2008 the CFFS picked up and transferred just under 60-thousand floral stems to homeless people in Metro Vancouver as part of the estimated quarter-million floral stems that have passed through CFFS to homeless and marginalized persons since year one.

I have been chosen as one of the artists to participate in this fundraising event. My paintings will be auctioned and all proceeds will go to empower the homeless. I hope you can join us that evening, or you can go on-line by visiting www.flowersforfood.com and make a small contribution!

Noise Pollution, the Good, the Bad and the Ugly (Part One) by Geraldine Santiago

Geraldine Santiago, Geraldine Santiago (RE/MAX Crest Realty (Westside)) — Wed, 09 Jun 2010 16:29:39 -0700

“Noise Pollution”, the Good, the Bad and the Ugly by Geraldine Santiago

www.vancouverhomes.info

When purchasing a home, it is always good to listen to the noise or various sounds in the area. Yes, you heard me, I said, “noise”. This is easier said than done, as no doubt you are probably more focused on finding out more about the over-all health of the building and not that interested in the noise level in the unit and its surrounding areas.

What can you hear from the property you are considering purchasing? Dogs barking? Birds chirping? Music from a next door neighbour? Car or House alarm ringing? Renovations being done nearby? Noise, unfortunately, can detrimentally affect people’s health (sleep disturbance and increased stress). And this, my friend, is an important consideration when purchasing a property you are intending to live in for a long time!

If you work from home this is equally important as noise can ruin your concentration and your right to quiet and your right to enjoy your property. In Vancouver, BC, a “Noise Control Manual” exists which is a manual that focuses on noise control. As Vancouver is becoming more and more a densely populated city, with multiple family dwellings living closer and closer to each other, the noise that they make and the noise that we make can mutually bother and affect each other. New residential buildings are often built and located within mixed use areas, where activities associated with commercial land uses. (Look at West Broadway and Vine) which can interfere with the enjoyment of those living nearby.

The reality is that noise is all around us. We can somewhat prevent noise from disturbing and disrupting our lives but it will still be there. When buying a condo, look at the location of the unit if it faces a busy street, a park, parking-- all of which are signs of potential noise. If the unit has double paned windows, that might be enough from hearing the traffic outside. In condos, you might want to see if there have been others bringing up noise problems and if any other owner has made arrangements in their unit to either insulate their floors, ceilings or walls. What about being allowed to install some type of fan in the unit? I find that this mutes out the noise coming from the street.

Some people are more tolerant of noise than others. If noise is something that is important to you, for your “peace” of mind and quiet enjoyment, you might want to do some research on what your city is doing about noise pollution. In the City of Vancouver, the City works to manage noise through land-use planning, bylaws, traffic management and policing. Look at the noise bylaw in your area. The City’s Noise Bylaw regulates construction, vehicle, and household noise within Vancouver. For more details, go to www.vancouver.ca/bylaws.

In addition, in Vancouver, an “Urban Noise Task Force” was created because of growing concerns about noise and its affects on everyday life. The citizens’ group, with the assistance of City staff and Councillors, made a series of recommendations to the City for improving Vancouver’s soundscape, many of which are being implemented today.

Local citizens groups have worked towards having traffic noise levels in their neighbourhoods reduced, while others have encouraged ‘traffic calming’ measures. In East Vancouver’s Mt. Pleasant, you will see East 6th as a bicycle route, or traffic calming route thereby reducing the exposure to noise in this particular neighbourhood. (I have a listing in Mt. Pleasant's on East 6th which is a traffic calming route, very quiet and a bicycle route. Please go to my website for more information on this one bedroom condo in Mt. Pleasant.)

In my next article, "Noise Pollution; the Good, the Bad and the Ugly (Part Two), I will address some of the ways you can actively remove noise pollution from your life!

My Left Brain is Fighting With My Right Brain! by Geraldine Santiago

Geraldine Santiago, Geraldine Santiago (RE/MAX Crest Realty (Westside)) — Wed, 02 Jun 2010 21:31:00 -0700

I spent an entire career writing. I wrote three real estate reference books published with Self-Counsel Press Ltd. not to mention my (countless) articles and blogs on real estate for the consumer.

But what many of you don't know is that I used to be a starving artiste. This is "Luisa", oil on canvas. My left brain is struggling with my right brain. What do you think? Post a comment! Any thoughts? I'd love to hear from you!

Zoning.....What is it Good For? (part two) by Geraldine Santiago

Geraldine Santiago, Geraldine Santiago (RE/MAX Crest Realty (Westside)) — Tue, 01 Jun 2010 12:58:19 -0700

Zoning, what is it good for? (part two) by Geraldine Santiago

Licensed Realtor, Published Author

Go to www.vancouverhomes.info to read part one

The first part of this article addressed the importance of zoning and why it is important for home owners to find out what their zoning district is on their property and its adjacent areas. I explained where you could find this information yourself, and to do your own due diligence when it comes to knowing your property. Zoning could be an important part of the sale, so it is important to know what exactly this is.

Recently in Vancouver, BC, there have been changes to certain zoning namely for RS-1 and RS-5 single-family dwelling which were adapted by City Council in July 2009. The City of Vancouver’s Land Use and Development had certain guidelines regarding a laneway house allowing laneway housing to be built on the property of the above mentioned zoning districts. You can go on-line to see where these zoning district areas exist and if your property is affected by this change.

The laneway housing project is similar to infill housing (you probably also hear the word coach house) in that new housing stock is created within an already established neighbourhood. By doing so it utilizes existing municipal services as opposed to the creation of new housing stock in new outlying subdivision development.

How does this affect you as a homeowner? The face of today’s homeowner is changing in Vancouver, BC. because of many factors. The main factor is the fact that the price of homes in Greater Vancouver far surpasses the average household income, making it very difficult for first time home buyers to enter the housing market and purchase a home on their own. (Please read my article posted on my site www.vancouverhomes.info posted on May 22nd, 2010 Where Have All the First Time Home Buyers Gone?)

Because of the decrease in first time home buyers entering into the market, we are seeing multi-generation families all living under one roof. This can either be an adult child living in the basement of their parents’ home or seniors moving back in to live with their children for various socio-economic reasons.

The advent of laneway housing somehow addresses the problem of affordable housing, sustainability which includes ecodensity and use of eco-friendly building materials. The cost of a new single detached laneway residential home in Vancouver albeit a small home, under the laneway program, makes it affordable because the cost of land is not part of the equation.

For many, this is a great way to own a home in the city, without the huge burden of a mortgage, and many lenders are seeing this as a great opportunity for homeowners to reinvest in their own backyard.

Opportunity? Vancity thinks so. In fact, Vancity has made it easy to look at your backyard as a great opportunity by providing laneway housing mortgage bundle.

Your laneway house can be a mortgage helper, income helper, more housing space, a caregier suite, in-law suite, cottage for your out of town guests, home office. All of which add value to your existing home.

The zoning by-laws, do have restrictions on allowable square footage, height, set backs, etc. This information can be found on-line at www.vancouver-ecodensity.ca

Zoning is about planning, and it encompasses many aspects such as standards regarding frontage, lot size, set back from street, building heights, parking requirements, alteration of buildings, maximum density of population, the display of signs, sound and noise emitted from a building, and so on. There are classifications and sub-classifications to zoning, such as residential, commercial, industrial, agricultural, open space such as parks and recreation and environmentally sensitive/flood plain as well. The provincial ministry/department is responsible for planning and has the ultimate authority to zone any property within a province.

That's zoning--- and that is what it is good for!

For more information on laneway housing in Vancouver, BC, go to: www.hotarchitecture.net or www.vancouverlanewayhousing.com

Zoning.....What is it Good For? (part one) by Geraldine Santiago

Geraldine Santiago, Geraldine Santiago (RE/MAX Crest Realty (Westside)) — Tue, 25 May 2010 17:37:51 -0700

Zoning, what is it good for? (Part One) by Geraldine Santiago

www.vancouverhomes.info

Published Author, Licensed Realtor

When purchasing a property for the first time, prospective home buyers need to look at the zoning of the area. If you are buying a property, this information is located on the MLS feature sheet prepared by the listing or selling agent. You can do more research on-line by going to your municipality or city’s website to find out more about the zoning and by-laws for development. This will allow and restrict you if you were to build or intend to run a business from your home. If you have already purchased your property, this information may be found on your title search as well as from the MLS listing and your BC assessment.

Zoning protects and preserves the right of an owner to use his or her property through regulation. Zoning is carried out by the local government and specifies what types of buildings can be built. It specifies height restrictions of a building, types of businesses that can be carried out, and so on. As a home owner or future home owner, it is always important to find out what your zoning is on your property.

In strata titled properties for multi-dwelling residential buildings such as condominium, apartments, townhouses, and so on, there exist by-laws which set out specific uses and guidelines for the use of the property by its residents. In single detached homes, there exist zoning by-laws and regulations which specifically addresses use and development for the area in question. Unless zoning allows it, one cannot just open a barber shop, or a convenience store from a your home or property. That's exactly what zoning is for.

It is important to obtain a map of your city to know where the boundaries of zoning exist as they may also affect you. A neighbouring factory, golf course, park, school can affect you in a positive and negative way. In addition, it should be noted that there may also be future changes in zoning, which could also affect your property as well.

Recently in Vancouver, BC, there have been changes to certain zoning namely for RS, RT and RM zones which were adopted by City Council in July 2009. The City of Vancouver’s Land Use and Development had certain guidelines regarding a laneway house allowing laneway housing to be built on the property of the above mentioned zones. For a homeowner with this new zoning changes, what does it mean? Find out in my next article Zoning, what is it good for? Part Two by Geraldine Santiago

Selling Your Real Estate Business-- What is it Worth? by Geraldine Santiago

Geraldine Santiago, Geraldine Santiago (RE/MAX Crest Realty (Westside)) — Tue, 18 May 2010 13:38:25 -0700

Selling Your Real Estate Business-- What is it Worth?

by Geraldine Santiago

Are you thinking of selling your real estate business? Perhaps you may not be thinking about this now, at this very moment, but at some point you may want to do so. You may want to retire, or you may have health issues which forces you to sell or change your lifestyle, or you may just want to change direction period.

After many many years of cultivating your business, growing your business, marketing and promoting, you are not just going to give it up, are you? How can you transfer ownership of a domain name which your personal name like www.geraldinesantiago.com? No one else can buy that name, or use that name and no one else would want it. How are you going to sell your business if it starts and ends there? Who is going to buy it? Can you think of a few names of your colleagues you know who might want to buy your business from you?

A service-based business may be difficult to sell because it is client based and a personal relationship is created. These are clients who you have cultivated over the years, and who are loyal to you, who may not be too keen on your replacement even with your recommendation.Even if your replacement has worked with you for years and knows your clients very well, this does not mean that your clients will still go to your replacement.

I have been with my hair dresser for over ten years. When he moved, I moved as well. It didn’t matter which salon he went to, I moved with him. My hair dresser is as personal as they come and it is difficult to change. Unless he retires or moves to another city altogether, will I find my own replacement. In addition, his replacement wouldn’t necessarily be the person he recommends as for me, it is a very personal decision.

How much do you value a business? Wouldn’t you want to sell it? What if you were to pass away, would your spouse or children be able to sell your business or would it just disappear?

It is easier to sell a business if one has assets. Take for instance a grocery store, which has tangible assets like equipment, land, vehicles, inventory which one can place a price tag or value. However, with a service based industry, it might be a little bit more difficult to put a value based on clients and service. In addition, it might be a little more difficult to put a value based on 'goodwill', virtual property such as your website, intellectual property such as logos, branding, blogs, designs, copyrights, patents and so on.

Many professionals such as dentist groups and even law firms today are making the change to a more generic or descriptive name instead of a personal name rather a name based on a Senior partner(s). Senior lawyers may be able to sell their portion of their law firm business without having to jeopardize the company. The company can still remain intact because its name has remained the same over the years.

From the very first day we started our real estate business, it should have been set up like any other business. We should be able to sell it when we retire. and it should have a value and worth.

What are your thoughts? I’d like to hear from you.

Where Have All the (First Time Home) Buyers Gone? by Geraldine Santiago

Geraldine Santiago, Geraldine Santiago (RE/MAX Crest Realty (Westside)) — Fri, 14 May 2010 13:15:17 -0700

Where have all the first time home buyers gone? According to a study by Ipsos Reid in Vancouver, first time home buyers are being pushed out of the housing market and statistics tell us that the numbers are dwindling.

The price of housing in Vancouver has grown in leaps and bounds in recent years and far surpasses the average income. First time home buyers, who are fresh out of University or college, have just entered the job market (and who may have student loans owing) have a difficult enough time saving for a down payment for the purchase of their first home.

Though first time home buyers are encouraged to use their registered retirement savings plan, RRSP for the down payment of their first home under the HBP or Home Buyer’s Plan, there are pitfalls to this. For one, the maximum allowable withdrawal under the HBP is only $25,000 and in addition, this has to be repaid over 15 years.

A single income buyer who, five years ago, could afford a one-bedroom in the Westside of Vancouver, is not able to do so anymore. Instead, I am seeing first-hand that couples with dual incomes have to share the burden of making do with a modest one-bedroom apartment.

The solution is not as simple as one thinks because building more homes for the consumer has a huge price tag with land prices, labour and materials increasing year after year. In addition, with HST looming, it will even be more unattractive for the first time home buyer to purchase with the cost of buying and borrowing adding to the expense. Vancouver itself has its own limitations being a port city. In addition, mountains to the north are not yet developed for housing opportunities. Lastly, there exist crown lands, endowment lands, and agricultural lands for the use of crops and agriculture which cannot be used for housing.

There should be greater incentives being given to the first time home buyer, such as not having to pay back the RRSP and having a higher limit in keeping with present market conditions.

If no incentives are to be made to encourage the first time home buyer, there will not be a need in the future for new developments or housing. The first time home buyer will not decrease but will be extinct with multi-generations living under one roof as first time home buyers will not be able to afford to purchase on their own.

Many first time home buyers would like to take advantage of low interest rates. However, mortgage rates are only one factor in the decision to purchase a first home. Buyers who were reluctant to buy a few years ago believed that the market would level off or cool down. When it would do so, these buyers hoped they could be able to buy under those market conditions.However, the housing market only cooled off for a brief period, and the advent of the Olympics in Vancouver in 2010 only made it worse with both global and local investors speculating and entering the housing market in Vancouver.

Though I have seen some first time home buyers and young couples purchase homes, they were able to do so with their parent’s gift monies. However, for those who cannot seek the help of their parent’s financial aid, what is to be done? What is the solution?

Fast forward to 2025 when my children are at the age of home buying. Will my children have to rent for the rest of their lives? Home ownership has huge rewards such as forced savings from its equity, a roof over one’s head and stability.

Is this a local problem or an global one? Real Estate property prices are similar in Europe, and in particular Spain and the UK where price houses have soared in the past few years making it also equally unaffordable for locals. To the South of us, in the United States, mortgage rates are also at a historic low, AND market prices have dropped, but still there are no buyers there either.

What are your thoughts? I'd love to hear from you!

First Time Home Buyers: Specific to Canada and BC-- Home Buyer's Plan (HBP) by Geraldine Santiago

Geraldine Santiago, Geraldine Santiago (RE/MAX Crest Realty (Westside)) — Fri, 14 May 2010 12:00:54 -0700

First time Home Buyers: Specific to Canada and BC

Home Buyer's Plan and Your First Home Purchase by Geraldine Santiago

The Home Buyer's Plan (HPB)
RRSPs and Your Down Payment for a First Home Purchase

Did you know that the Home Buyer's Plan (HBP) is a program for first time home buyers allowing them to withdraw up to $25,000 from their registered retirement savings plan (RRSP) to buy or build a qualifying home. (This used to be $20,000) Withdrawals that meet all applicalbe HBP conditions do not have to be included in your income, and your RRSP issuer will not withhold tax on these amounts. If you buy the qualifying home together with your spouse or common-law parter, or other individuals, each of you can withdraw up to $25,000. There are certain conditions that apply, so to be sure, you can call the Canada Customs and Revenue Agency direct at 1-800-959-8281 or visit their website at www.ccra.gc.ca.

How to Make a Homebuyer's Plan Withdrawal

Your withdrawal can only be made AFTER you provide proof of an accepted offer. You must submit a completed FORM T1036 Home Buyer's Plan request to withdraw funds from an RRSP to your RRSP issuer who will finish the process.

Remember to inform your real estate agent that you plan to use your RRSP to form part of your downpayment, especially if you are planning to use the RRSP money that you just deposited as you may not be able to access the money at the time you need it. Your RRSP contributions must remain in the RRSP for at least 90 days before you can withdraw them under the HBP, or they may not be deductible for any year. Timing is important in your offer to purchase, so be sure to talk to your real estate agent about this especially if you are purchasing in the beginning of the calendar year.

For more information, you can visit the Canada Customs and Revenue site at www.ccra.gc.ca or call toll-free at 1-800-959-8281.
To view FORM T1036, go to www.cra-arc.gc.ca/E/pbg/tf/t1036/t1036-09e.pdf

Paying Back a Homebuyers' Plan Withdrawal

The money you withdraw from your RRSP under the Home Buyers Program is considered a LOAN. The money MUST BE REPAID at a prescribed rate into your RRSP within 15 years, but you do not have to begin repayments intno your RRSP for about three years. It is a good idea to begin paying back this money as soon as you can,s o you may wish to consider opening a Continuous Savings Plan. It is a simple and convenient way to manage your savings on an ongoing basis. For more information, visit the Canada Customs and Revenue Agency site at www.ccra.gc.ca or call toll-free at 1-800-959-8281.

Why Invest in Vancouver BC or Canada? by Geraldine Santiago

Geraldine Santiago, Geraldine Santiago (RE/MAX Crest Realty (Westside)) — Thu, 13 May 2010 12:18:34 -0700

Why Invest in Vancouver, BC or Canada?

By Geraldine Santiago

Why invest in Vancouver BC or CANADA....when there are so many other places in the world to invest?

According to IMD: Rank among 55 Economies considered in the World Competitiveness Yearbook 2008, Canada is among one of the best countries for quality of life. We have a high standard of living and very affordable costs, next to Germany, and the USA. The education in Canada and tuition fees are among the lowest in the world and colleges and universities are among the best in the world.

In addition, Canada is a tolerant and multi-cultural country. Because of this, it is a great place to live, work, study and especially to invest. The Immigrant Investor Program, also known as “IIP” was created in 1986 by the Government of Canada to attract successful business immigrants and their families to Canada. There are many benefits in this program.

There are four requirements to the Immigrant Investor Program. They are as follows:

Must have a proper “Business/Management” experience (i.e. the investor must submit documentation proving that they owned or managed a qualified business for at least 2 of the last 5 years;
Must have at least C$800,000 in net-worth (including assets of spouse);
Must pass medical and security evaluation; and
Must invest C$400,000 for five years with the government at zero (0%) interest. If required by the investor, companies like HSBC can provide financing options for the C$400,000 investment.

For more information, please contact HSBC or your financial institution.

Houses Houses Everywhere by Geraldine Santiago

Geraldine Santiago, Geraldine Santiago (RE/MAX Crest Realty (Westside)) — Tue, 11 May 2010 20:08:50 -0700

Before I was a Realtor, I drew and painted houses, and houses and more houses...in different mediums, shapes, sizes, colours......and had started my career as a young "budding" artist. It then dawned on me........ I was painting for a reason---- I was to become a REALTOR! Above: Cypress Street, Acrylic on Canvas, 36x36

First Time Home Buyers: Making an Offer on a Property by Geraldine Santiago

Geraldine Santiago, Geraldine Santiago (RE/MAX Crest Realty (Westside)) — Wed, 05 May 2010 13:43:57 -0700

First Time Home Buyers:

Making an Offer on a Property

by Geraldine Santiago

Author, Realtor, www.vancouverhomes.info

Making an offer on a property when you are a first time home buyer can be quite overwhelming as many first time home buyers rely on their REALTOR to help determine the fair market value of the property. Determining what is fair market value is not an exact science as no two properties are exactly the same. All properties are unique; even two homes built on the same block at the same time with the same builder are different because of its location.

Lawyers look at legal precedents which are judicial decisions regarding law which affect future cases of a similar nature to help them with their cases. Similarly, REALTORS look at recent past sales which affects future market decisions when determining fair market value for their clients. By researching past sales in particular combined with active, expired, terminated listings for a given time, REALTORS can provide a market value to the property which is being compared. This is called a comparative market analysis or a CMA for a specific point in time to the present. A CMA that is too old or outdated will not help your buyer at all. Both lawyers and realtors must be experienced in their profession to get the best possible outcome.

A formal and detailed CMA report takes a lot of time to prepare. But buyers should have this information on hand before making an offer to purchase so that they will know how to price the property correctly.

Fast Forward to 2010 & First Time Home Buyers (In Vancouver BC Canada)

Geraldine Santiago, Geraldine Santiago (RE/MAX Crest Realty (Westside)) — Tue, 04 May 2010 23:58:20 -0700

Fast Forward to 2010 & First Time Home Buyers (In Canada)

by Geraldine Santiago, Author and Realtor

First time Home Buyer Expert, www.vancouverhomes.info

Fast forward to 2010, and first time home buyers have it GREAT. Buyers today are actually better informed and equipped with knowledge thanks to the internet, ebooks, consumer’s advocacy groups than yesteryear when I purchased my very first home.

Back then, there were no zero per cent down so it was difficult for first time home buyers to get pre-approved for a mortgage as easily as today. In addition, mortgage application forms are made easy today for the consumers. One can get a pre-approval on-line, with a computer and mouse! I remember when my husband and I went to the banks and it felt like they were pulling teeth--it was difficult for the banks to give us a home loan as we were new to the work force, and fresh out of University. Actually, we were still in University.

In addition, today there are buyer’s agents who represent the buyers and listing agents who represent the sellers. At that time when we purchased, there was no clear definition or designation. Now, I understand that in a year’s time, they will no longer have dual agency but DESIGNATED agency so that each party is best represented by their own agent. That means for REALTORS and agents, there will be no double ending the deal.

Today, the MLS listings are posted on-line, through the Real Estate Board. Before, we had to go through an agent and they were the ones who carried around this huge listings books as thick as the yellow pages and they would not lend it to buyers as it was too costly.

REALTORS today encourage that consumers hire the services of a certified home inspector so that consumers can determine for themselves the health of the home. Back then, it was not common to do so, and oftentimes, if one had a relative who was a plumber or electrician, they would “inspect’ the property with their limited capacity as a plumber or electrician.

So many things have changed from way back when I purchased my home, (as well as the price). Consumers can feel comfortable that they have the tools to get empowered. This is why I wrote my book, the “Complete Home Buyer’s Guide for Canadians” because it has everything you need to know about purchasing today and why you should take the time to borrow it from your local library, your bookstore or friend!

Fast Forward to 2010 & First Time Home Buyers (In Vancouver BC Canada)

Geraldine Santiago, Geraldine Santiago (RE/MAX Crest Realty (Westside)) — Tue, 04 May 2010 14:34:55 -0700

Fast Forward to 2010 & First Time Home Buyers (In Canada)

by Geraldine Santiago, Author and Realtor

First time Home Buyer Expert, www.vancouverhomesinfo