Mike Stewart Vancouver's Blog

Episode 6 of First Time Home Buyers Guide - Disclosures

Mike Stewart Vancouver (Century 21 In Town Realty) — Tue, 19 Oct 2010 17:41:30 -0700

Tips for First Time Home Buyers - Episode 6 - Discussion about Disclosures

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Following up on Episode 5, you've found a property that fits your budget, and want to make an offer. Officially, your offer is called a "Contract of Purchase and Sale". When you initiate a "Contract of Purchase and Sale", you are telling the Seller that you are serious about buying the property.
WAIT!
But, before you have your Realtordraft such a document, everything must be disclosed in writing. This is done by reading, understanding and signing 3 very important forms from your Realtor:

The WWR or "Working with a Realtor": A home Buyer and their Realtor or Buyers Agent enter into whats called the Agency Agreement when they start to work together. This document lays out the obligations and duties the Realtor owes a Client and the Rights of the Client. The salient points of the Agency Relationship as laid out in the Working with a Realtor Brochure (the link to the left takes you to an example of the document and a video explanation) are as follows; 1) Undivided loyalty. The Brokerage must protect the principal’s negotiating position at all times, and disclose all known facts which may affect or influence the principal’s decision. 2) To obey all lawful instructions of the principal. 3) An obligation to keep the confidences of the principal. 4) To exercise reasonable care and skill in performing all assigned duties. 5) To account for all money and property placed in an Brokerage’s hands while acting for the principal.
* What It Means - The Realtor works for the Client (First Time Home Buyer) and only the Client, no matter who is paying the Realtor and has to tell the Client EVERYTHING! 2) The Client/Buyer is the BOSS! No ifs, ands, or buts! 3) The Buyers Real Estate Agent CANNOT talk about the clients affairs with ANYONE, unless given permission by the Client, 4) The Realtor has to do their job right or face serious consequences 5) Everything given to the Realtor is the Realtors personal responsibitiy ie deposit cheques, keys, anything.

The FINTRAC - Then Financial Transactions and Reports Analysis Centre of Canada gather, analyze, assess and disclose financial intelligence across Canada. It is a requirement of all Realtors in Canada to ascertain the identity of the their clients and submit it to FINTRAC (this link to the left takes you to an example of the document and a video explanation)
* What It Means - Big Brother/the Government of Canada wants to know if buyers of real estate in Canada are funding terrorism or laundering money and wants all of the personal information of these Buyers and will throw these Buyers and their Realtors in jail for not giving this personal information.

* Disclosure of Remuneration - Realtors have a duty to disclose to their Clients in writing how the Real Estate Agent is getting paid, by whom, and how much. All Buyers working with a Realtor must initial or sign a Disclosure of Remuneration.
* What it Means – For First Home Buyers, the Disclosure of Remuneration is very often when they come to understand how their Buyers Agent gets paid. This is how it works: The Seller offers to pay their Sellers Agent (Listing Agent) a commission to sell their property. The Sellers Agent then offers about half of this commission to Buyers Agents to bring their Buyers to bring accepted offers that Complete. The Buyers Agent has to get it in writing that the Buyer is aware of how much the buyers agent is getting paid and by whom. PLEASE NOTE – Buyers do not pay the Buyers Agent! For a more detailed explanation of check out my Disclosure of Remuneration Video.

Once all these documents are signed and filled out its time to prepare the offer or Contract of Purchase and Sale as covered in href-"http://www.mikestewart.ca/blog/2010/10/13/first-time-home-purchase-advice-vancouver-7-contract-of-purchase-and-sale-overview/">Episode 7 of the First Time Home Buyer Tips Vancouver: The Contract of Purchase and Sale Overview!

September Real Estate Stats for Vancouver BC

Mike Stewart Vancouver (Century 21 In Town Realty) — Wed, 06 Oct 2010 14:39:13 -0700

September 2010 Real Estate Board of Greater Vancouver (REBGV) Statistics Package

Here is the full package of statistics showing whats happening in the Vancouver Real Estate Market from the REBGV for September 2010.

REBGV Statistics Package September 2010

Housing market factors indicate stability in recent months

August 2010 REBGV Stats Package Here!

Selling Your Condo in Vancouver, B.C. - A Step by Step Guide

Mike Stewart Vancouver (Century 21 In Town Realty) — Wed, 06 Oct 2010 14:07:54 -0700

How To Sell a Condo in Vancouver Episode 1: Mortgage Penalties?

By Mike Stewart, Vancouver Realtor

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This is Episode 1 of How to Sell Your Vancouver Condo. This new video series will be your start to finish guide of how to sell your residential condo in Vancouver, B.C. No question is too simple! Contact me any time with your questions and/or comments. Click the previous link and scroll down to the comments sections. All submissions are read and answered by me personally.

What's the Status of Your Mortgage? Will You Have to Pay a Mortgage Penalty?

If you are fotunate enough to have no mortgage on your condo, lucky you, skip to Episode 2!(Coming Soon)

Your mortgage is a contract that commits you to pay your lender a series of payments over a specified period of time. If you want out of your contract early, you'll have to pay a mortage penalty in order to compensate your lender. The amount of this compensation varies according to the terms of your contract.

Talk to Your Mortgage Lender First!

Jessi Johnson of the Jessi Johnson Mortgage Team was kind enough to come meet with me to explain the two types of penalties when a mortgage is ended early. For a variable rate mortgage the penalty is generally 3 months interest, which in most cases is not that much because variable rate mortgage interest rates tend to be lower than fixed rate mortgages. It can get VERY EXPENSIVE when ending a fixed rate mortgage on your Vancouver condo, because they can be subject to an IRD or Interest Rate Differential.

What is an IRD?

Jessi Johnson defines the Interest Rate Differential or IRD as such on his site:

“An IRD amount is a compensation charge that may apply if you pay off your mortgage principal prior to the maturity date or pay the mortgage principal down beyond the prepayment privilege amount. The IRD amount is calculated on the amount being prepaid using an interest rate equal to the difference between your existing mortgage interest rate and the interest rate that we can now charge when re-lending the funds for the remaining term of the mortgage.”

Jessi also has a great Interest Rate Differential Calculator on his site that you can use to see how big a penalty you may need to pay if you want sell your condo in Vancouver.

When in Doubt, ASK YOUR LENDER!

If you’re not sure what your penalties are make sure to ask your mortgage lender and they should be able to tell you how much your penalty would be should you chose to end and pay out your mortgage early.

Is Your Condo a Revenue Property? Talk to Your Accountant!

If you’re selling a revenue property, be sure to speak to your accountant. There may be tax implications when selling an investment property. I will cover selling investment properties in detail in an upcoming series of videos.

Be sure to check out Episode 2 of How To Sell Your Condo in Vancouver! (Coming Soon!)

Selling Your Condo in Vancouver - A How To Series

Mike Stewart Vancouver (Century 21 In Town Realty) — Fri, 01 Oct 2010 16:59:05 -0700

Introduction to Selling Your Vancouver Condo

Selling a Condo in Vancouver IS Different Than Selling a Condo in Other Places!
Vancouver is richly populated with a huge number of residential condos. This demographic makes marketing and selling residential condos in Vancouver unique from most other urban centres in BC. In this video, I introduce my new series about How to Sell a Condo in Vancouver. The series will detail everything from pre-listing preparations to listing with a realtor to marketing your listing and finally to finalizing the sale of your Vancouver Condo.

. I may be discussing a lot of terms and concepts that may not be familiar to people outside of the Vancouver Real Estate community. If you find that you do not understand any of these terms and concepts, please let me know because…
There is No Such Thing as a Stupid Question when Selling a Condo in Vancouver!
Yes! I cannot emphasize this more. If you don’t understand PLEASE CONTACT ME WITH ANY QUESTIONS you may have on the process of selling your condo in Vancouver. I can be reached at 604-763-3136 or email me by clicking
here.
I also strongly encourage comments below with any questions!
So, you’ve decided its time to sell your condo in Vancouver. What next? Check out Episode 1 of How to Sell Your Vancouver Condo:Mortgage Penalties?!"

Concord Pacific Offers New Condos for Pre-Sale in Vancouver's South Main Area - Welcome to Uptown!

Mike Stewart Vancouver (Century 21 In Town Realty) — Fri, 01 Oct 2010 15:41:05 -0700

Now on the Market: New Pre-Sale Residential Condos in Vancouver South Main at "Uptown" by Concord Pacific.

Uptown Vancouver by Concord Pacific Price List and Features By Mike Stewart Realtor
Introducing Uptown, a new Pre-Sale by Concord Pacific located in Vancouver BC’s South Main/Mount Pleasant area. Uptown is a soon to be completed residential condo tower located on Prince Edward Street at Kingsway and East 12th Avenue. This 10 story condo tower will offer views to the north of the North Shore Mountains and False Creek. Uptown will have 102 suites, 25 of which are going to be 1 bedrooms with some 2 bedrooms and a few larger townhouses.

Pricing
For details see the price list below for this new Vancouver Off-Plan Development. Concord Pacific mentioned that 65% of the suites for sale at Uptown Vancouver will be under $350,000, but this does not include parking or any upgrades.

Interior Finishings
Concord Pacific mentioned they will give the option on light or dark laminate floors, Stainless Steel Appliances as well as Quartz Stone Counter tops.

Maintenance Fees and Amenities
Concord Pacific anticipates maintenance fees for this pre-sale to be 27 cents/sf with a small gym and party room with kitchenette for amenities.

Financing Options
The developer of this pre-sale condo is working with the Bank of Montreal who is offering a 3.45% fixed rate mortgage with a 3 year term available from completion.

HST Helper Discount!
Concord Pacific is offering HST help for Buyers of Uptown. See details on page14 of the document that I have embedded below.

Deposits
Concord Pacific is requiring a deposits of 25% on this Pre-Sale for the general public and 20% for Uptown Club Members.

QUESTIONS? Please contact me with any questions you may have on Uptown in South Main!
All of these details are subject to change without notice.

Episode 6 of the First Time Home Buyers Guide to Vancouver Realestate, by Mike Stewart

Mike Stewart Vancouver (Century 21 In Town Realty) — Thu, 16 Sep 2010 18:03:06 -0700

Tips for 1st Time Home Buyers in Vancouver Episode 6: Working with a Realtor, FINTRAC and the Remuneration Disclosure

Part 6 in a series of videos that provide advice to Vancouver Buyers on the purchase of their first home. Your comments and questions are important to me and other readers of this blog. Write to me and I will reply!

You’ve found the home you're looking for... What next?
You have an idea of what this dream home is worth, as discussed in Vancouver First Time Home Buyer Tips Episode 5, now you and your Realtor need to draft up an offer or Contract of Purchase and Sale as it is officially referred to in BC, that will be submitted to the Seller and that informs the Seller that you are serious about buying the property.
STOP! Time for your Realtor Disclose EVERYTHING IN WRITING to you, the Buyer.
Prior to a Realtor preparing and submitting an offer on your behalf, there are important documents to consider. These documents are a constant source of confusion and questions from First Time Home Buyers and its one of the major reason I created the First Time Home Buyer Guide for Vancouver.
What needs to be filled out and signed and what it means!
» Working with a Realtor (WWR) – A home Buyer and their Realtor/Buyers Agent enter into whats called the Agency Agreement when they start to work together. This document lays out the A) obligations and duties of the Realtor to the Client and B) the Rights of the Client.
The salient points of the Agency Agreement as laid out in the WWR Brochure (click the link to the left for a view of the WWR document with a video explanation) The salient points of the Client/Agency Relationship are as follows:
1) Undivided loyalty: The Brokerage must protect the principal’s (read: client's) negotiating position at all times, and disclose all known facts which may affect or influence the principal’s (read: client's) decision.
2) To obey all lawful instructions of the principal (read: client).
3) An obligation to keep the confidences of the principal (read: client).
4) To exercise reasonable care and skill in performing all assigned duties.
5) To account for all money and property placed in an Brokerage’s hands while acting for the principal (read: client).

» What it Means: The Realtor works for the Client (First Time Home Buyer) and only the Client, no matter who is paying the Realtor and has to tell the Client EVERYTHING!
2) The Client/Buyer is the BOSS! No ifs, ands, or buts!
3) The Buyer's Real Estate Agent CANNOT talk about the clients affairs with ANYONE, unless given permission by the Client.
4) The Realtor has to do his/her job correctly or face serious consequences.
5) Everything given to the Realtor becomes the Realtor's personal responsibility (ie deposit cheques, keys, photos...anything.

» FINTRAC - Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) gathers, analyzes, assesses and discloses financial intelligence and requires all Realtors in Canada to ascertain the identity of the their clients and submit it to< FINTRAC. (click this link to view a FINTRAC document with a video explanation)

» What It Means: Big Brother/the Government of Canada wants to know if buyers of real estate in Canada are funding terrorism or laundering money and wants all of the personal information of these Buyers. Failure to submit the required information to FINTRAC can result in prison time for both the Buyer and the Realtor.

» Disclosure of Remuneration - BC Realtors have a duty to disclose to their Clients, in writing, how he/she is getting paid, by whom and how much. All Buyers working with a Realtor must initial or sign a Disclosure of Remuneration that informs the Buyer of these things.

» What it Means – For First Home Buyers, perusal and comprehension of the Disclosure of Remuneration is how they come to understand how and how much their Realtor gets paid
. This is how it works: The Seller agrees to pay their Realtor (or Seller's Agent) a commission to sell their property (via a Disclosure of Remuneration document between that Seller and that Seller's Agent/Realtor). The Seller's Agent/Realtor then offers about half of this commission to the Buyer's Agent/Realtor in the event that their offer is accepted and the deal reaches the date of Completion. The Buyer's Realtor/Agent must get it in writing that the Buyer is aware of how much the Buyer's Realtor/Agent is getting paid and by whom. PLEASE NOTE – Buyers do not pay the Buyer's Realtor/Agent! For a more detailed explanation check out my Disclosure of Remuneration video blog.

Once all these documents are signed and filled out its time to prepare the offer or Contract of Purchase and Sale, so stay tuned for Episode 7 of the First Time Home Buyer Tips Vancouver: The Contract of Purchase and Sale! I Strongly Encourage Questions and Comments!

First Time Home Buyers Guide Episode 5: Comparative Market Analysis for Buyers – What’s your Dream Home Worth?

Mike Stewart Vancouver (Century 21 In Town Realty) — Tue, 07 Sep 2010 19:15:38 -0700

First Time Home Buyers Guide Episode 5: Comparative Market Analysis for Buyers – What’s your Dream Home Worth?

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In Episode 4 of the First Home Buyers Guide Vancouver, we discussed how to efficiently search for properties in Vancouver. So now you’ve found your dream home and you want to write an offer. Now is the time to take a cold hard look at that property to figure out if it’s really worth what the seller is asking!

They Can Ask, But Should You Give It?

List price does not equal market value! Price is almost always negotiable. Very often properties in Vancouver are priced above market value, sometimes they are priced at market value, and occasionally they are priced below market value (See Multiple Offer Situations for Buyers).

Why does this matter? Because once you find your dream home you need to know what the property is worth to prepare an initial offer and to have an idea of what sale price you will eventually negotiate, but more on that later.

Comparative Market Analysis – How I Calculate Market Value.

To figure out what your dream home is worth, I use a process called Comparative Market Analysis (CMA). Here’s how I do it:

1. First I visit the property. This is the only way to get the clearest possible picture of all the unique aspects of the property that contribute to its market value. Be wary of anyone who tells you they know a property’s exact value sight unseen.
2. I look at comparable properties or “comps” that are similar to the property of interest based on criteria such as age, size, location, builder, exposure, number of bedrooms, etc that have sold in the last 30 to 90 days depending on what’s happening in the market (30 days if the market is volatile, closer to 90 days if its not) as well as comps that are available on the market at present.
3. I look at what’s happening in the Vancouver real estate market overall using the REBGV Monthly Sales Statistics as well as what I am seeing in my business.
4. What’s happening in the economy overall.

I then take this data, analyze it, and present the Buyer with a brief report on what the market value of the property is. We then use this information to decide what price we will start at with the offer we are going to write on the property.

Tags: Comparative Market Analysis for Buyers, Comparative Market Analysis in Vancouver Real Estate, First Time Home Buyers Advice, First Time Home Buyers Video Blog Tips, How Market Value of Real Estate is Calculated, How Realtors Calculate Market Value, How To Calculate Market Value of Property in Vancouver, How to Calculate Vancouver Real Estate Prices, Vancouver First Time Buyers Tips, Vancouver Home Buyers Advice, Vancouver Real Estate First Time Home Buyers Advice

May 2010 Sales Statistics from the Real Estate Board of Greater Vancouver

Mike Stewart Vancouver (Century 21 In Town Realty) — Wed, 23 Jun 2010 15:12:31 -0700

May 2010 Sales Statistics from the Real Estate Board of Greater Vancouver

by Mike Stewart, Vancouver Realtor

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Here are the May 2010 sales statistics from the Real Estate Board of Greater Vancouver. I’d love to hear your thoughts and comments!

REBGV Stats – May market offers buyers greater selection

The number of properties listed for sale in Greater Vancouver continued to rise in May, while the number of sales showed a year-over-year decrease.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 3,156 in May 2010, a decline of 1

0.4 per cent compared to the 3,524 sales in May 2009; 5.1 per cent more than the 3,002 sales in May 2008; and 27.1 per cent less than the 4,331 sales in May 20

7. May 2010 sales also represent a 10.1 per cent decline compared to last month’s sales.

In terms of number of property listings, last month marked the third consecutive month during which more than 7,000 homes were listed for sale on the Multiple Listing Service (MLS®) in Greater Vancouver.

New listings for detached, attached and apartment properties totalled 7,014 in May 2010, a 48.2 per cent increase compared to May 2009 when 4,733 new units were listed, and an 8.3 per cent decline compared to April 2010 when 7,648 properties were added to the MLS®.

At 17,492, the total number of property listings on the MLS® increased 10 per cent in May compared to last month, and is up 28.2 per cent compared to this time last year.

“Prospective home buyers in today’s market have a broad selection to choose from in every property type. REALTORS® are telling us they’re working with buyers who are not feeling as rushed to make a decision as they did late last year and earlier in the year,” Jake Moldowan, REBGV president said.

Over the last 12 months, the overall MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 16.7 per cent to $590,662 from $506,201 in May 2009.

“It’s important for those looking to buy or sell a home to remember that real estate is local and wise real estate decisions are made by those who understand current market conditions at the neighbourhood level,” Moldowan said.

Sales of detached properties in May 2010 reached 1,256, a decrease of 10.4 per cent from the 1,402 detached sales recorded in May 2009 and a 4.4 per cent increase from the 1,203 units sold in May 2008. The benchmark price for detached properties increased 19.1 per cent from May 2009 to $810,175.

Sales of apartment properties reached 1,354 in May 2010, a decline of 7.1 per cent compared to the 1,458 sales in May 2009 and an increase of 8.8 per cent compared to the 1,244 sales in May 2008.The benchmark price of an apartment property increased 13.9 per cent from May 2009 to $398,783.

Attached property sales in May 2010 totalled 546, a decline of 17.8 per cent compared to the 664 sales in May 2009 and a 1.6 per cent decline from the 555 attached properties sold in May 2008. The benchmark price of an attached unit increased 14.8 per cent between May 2009 and 2010 to $500,339.

REBGV Stats Package May 2010

Property Transfer Tax (PTT) and Vancouver Real Estate by Realtor, Mike Stewart

Mike Stewart Vancouver (Century 21 In Town Realty) — Wed, 23 Jun 2010 15:05:07 -0700

Vancouver First Time Home Buyers Advice Episode 4 – How to Efficiently Search for Properties

Property Transfer Tax (PTT) and Vancouver Real Estate

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I get questions all the time about BC’s Property Transfer Tax and how it applies to Vancouver Real Estate. Here’s a simple explanation.

BC’s Property Transfer Tax – What is it?

Property Transfer Tax (PTT) is a British Columbia tax on the sale or transfer of ownership of any residential real estate property in the Province.

How Much is the PTT?

BC’s PTT rate is 1% on the 1st $100,000 and 2% of the balance of the purchase price of the any property sold in BC.

For example: If you buy a property for $300K, you will have to pay $4000 in PTT.

When do you pay PTT?

Property Transfer Tax is paid on the Completion Date when the title to the property is transferred to the Buyer and the Seller receives their money.

Who pays PTT?

Everyone, EXCEPT First time home buyers who meet the following criteria:

Canadian Citizens or Permanent Residents determined by Immigration Canada.
Lived in British Columbia for 12 consecutive months immediately before the date registration of the property, or have filed 2 income tax returns as a British Columbia
resident during the 6 years before the date the property is registered
Never owned a property or an interest in a principal residence anywhere in the world at anytime
Never received a first time home buyers’ exemption or refund.
The fair market value of the property is less than $425,000 (This was written in June 2010, this number can and will change)
The Lot has to be 0.5 hectares (1.24 acres) or smaller, and
The property can only be used as a principal residence.

If the property meet some these criteria, there may be a partial exemption.

Here is the PTT First Time Home Buyers Exemption Criteria on the BC Government Website.

Property Transfer Tax Exemption First Time Home Buyers in British Columbia

How is PTT paid?

The lawyer or notary that is helping you transfer ownership of the property will apply and organize the documentation.

I welcome questions, thoughts, and comments!

Vancouver First Time Home Buyers Advice Episode 4 – How to Efficiently Search for Properties

Mike Stewart Vancouver (Century 21 In Town Realty) — Wed, 23 Jun 2010 15:01:32 -0700

May 2010 Sales Statistics from the Real Estate Board of Greater Vancouver

Property Transfer Tax (PTT) and Vancouver Real Estate »

Vancouver First Time Home Buyers Advice Episode 4 – How to Efficiently Search for Properties

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So you’ve hired a Realtor in Episode 3: How to Hire a Realtor. Now its time to put them to work!

Nobody likes to waste time. In this Episode we will talk about how to efficiently search from a home with the assistance of a Real Estate Agent. Let get started!

Get Some Tools!

Your Realtor will have some great web-based real estate research tools, like Private Client Services that will notify you of new listings, let you know whats actively on the market, and most importantly, how much properties are selling for. Why is sales data important? Because it allows you to the Buyer to distinguish between what is a good deal and what is not.

Start Looking with an Open Mind!

Once you have access to a web based research tool like Private Client Services, its time to start looking at properties. Email your Realtor the list of properties you want to see as well as a time you’re available and your Realtor should handle the rest.

Keep an open mind when looking. There may be options you never expected that might be perfect for you.
See as many properties as you can to get a clear idea of what is available at what price. Its a horrible feeling to buy something only to find out that what you really wanted was available but you missed it.

Communicate and Eliminate Options

As you search for that perfect property keep in mind what is important to you and what you like. Eliminate properties that don’t work for you and that you don’t like. Heavy sleeper/light sleeper? Don’t like the heat? Like light or not? Noise bother you? Big balcony small balcony? Make sure to communicate your needs, wants, and preferences to your Realtor. The more information your Realtor has, the faster they can find you properties you will like.

What to expect from your Realtor

The British Columbia Real Estate Association requires all Realtors in BC to have you the Buyer sign a document called Working with a Realtor. This document does not bind you to the Realtor in any way. It simply discloses to you the Buyer exactly the nature of the Agent Relationship. Remember your satisfaction as the Buyer is the most important thing in this process.

I welcome your thoughts, questions, and comments!

Stay tuned for Vancouver First Time Home Buyers Advice Episode 5: Writing an offer on your Dream Home!

Indoor Air Quality and Mold in Vancouver Houses and Condos, By Mike Stewart, Vancouver Realtor, Specializing in Downtown Vancouver West, False Creek North and Yaletown

Mike Stewart Vancouver (Century 21 In Town Realty) — Tue, 11 May 2010 15:26:04 -0700

Mold and Indoor Air Quality in Vancouver with Brian Mackenzie of ABM Environmental

By Vancouver Realtor, Mike Stewart

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I recently had the pleasure of meeting with Brian Mackenzie of ABM Environmental to talk about mold (mould) and indoor air quality. I was working with a client who was buying an older house in the Grandview area of Vancouver and had concerns about mold. We brought ABM Environmental in to test indoor air quality in the basement. Their analysis let us know there was a mild mold problem. Brian was able to give us some great advice to fix the problem inexpensively.

Why Worry About Mold and Indoor Air Quality?

Mold is everywhere. Whenever you have moisture and warmth, you get mold. Sometimes mold results in great things like cheese and penicillin, BUT sometimes when mold gets into the air of our homes, it can make us very sick.

Mold and Bad Indoor Air Quality Can Make You Sick!

Mold can have a huge impact on indoor air quality which in turn can have a negative impact on your health according to Health Canada. European and North American studies mentioned on Health Canada’s site show how a damp and moldy home is related to the following symptoms:

Eye, nose and throat irritation;
Coughing and phlegm build-up;
Wheezing and shortness of breath; and
Allergic reactions.

If you own or are buying any kind residential property, be it a condo or a house, and you smell, see, or notice mold, make sure to call in a professional to give you an assessment. Very often there will be little or no charge if it is a minor issue. If you have a major issue a professional should be able to help you identify the cause of the problem and fix it safely.

First Time Home Buyers Guide Vancouver – Episode 3 How to Hire a Realtor! By Vancouver Realtor, Mike Stewart, Specializing in Downtown Vancouver West, False Creek North, Yaletown, How to Interview a realtor

Mike Stewart Vancouver (Century 21 In Town Realty) — Tue, 11 May 2010 15:17:06 -0700

First Time Home Buyers Guide Vancouver – Episode 3 How to Hire a Realtor!

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In Episode 2 of the Vancouver First Time Home Buyers Guide we talked about how to figure out where to buy. Once you have decided on neighbourhood, it’s time to select a Realtor.

Google it, Baby!

To get started, Google the names of the neighbourhoods you are focusing on in combination with “Real Estate’ or “Realtor” to get an idea of which Realtors are putting effort into their web-marketing. Chances are, the more effort they’re putting into their online presence, the more effort they’ll put effort into your search.

Interview Time!

Meeting a Realtor in action is very good way to interview. Visit an Open House held by Realtors you’re interested in working with is a great low pressure way to meet them and see if you click. Ask them lots of questions!

This is what you should be looking for in a Realtor:

Local Knowledge, experience, and results (i.e. Sales in the area)
Professional – Answers calls and emails promptly, politely & pleasantly,
Up to date web based research tools for Real Estate

I Can Help!

If you don’t find a Realtor with the above process or you don’t have time to find one, feel free to give me a call. I have a great network of good Realtors across Greater Vancouver that can help you with your search.

First Time Home Buyers Guide Vancouver – Episode 2 – Where to Buy! By Mike Stewart, Vancouver Realtor, Downtown, False Creek North

Mike Stewart Vancouver (Century 21 In Town Realty) — Tue, 11 May 2010 15:02:43 -0700

First Time Home Buyers Guide Vancouver – Episode 2 – Where to Buy!

By Mike Stewart, Vancouver Realtor

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So You Know What you Can Spend, Where Are You Going to Buy?

SO you’ve gone to the bank or met with your mortgage broker and you’ve been pre-approved as we discussed in Episode 1 of First Time Home Buyers Guide Vancouver. Now you know what you can spend, now you need to decide where you want to look.

For most people in Vancouver, budget will be a major consideration as to where they look. Simple online options such as Realtor.ca can help narrow down the areas that work for your budget. These sites have limits though, they only show whats listed on the market right now and tend to update very slowly.

Take a Walk!

Once you’ve narrowed down the list of areas you’re interested in, its time to take a walk. This is especially important if you have not lived in or are not familiar with your areas of choice. Make sure to spend time walking around these neighbourhoods at different times of the day and night and different days of the week to get toe know the area and make sure you feel comfortable and secure. Greater Vancouver has a reputation of being quite safe, but what matters most is how YOU feel about a particular neighbourhood. If you don’t like the feeling in an area or feel insecure, move on to the next option!

Once you’ve decided on the neighbourhoods you want to buy in, its time to hire a Realtor!

Check out Episode 3 of Mike Stewart’s First Time Home Buyers Guide Vancouver – Choosing the Right Realtor! (Coming Soon!)

First Time Home Buyers Guide Vancouver - Episode 1 - Getting Started! By Mike Stewart, Vancouver Realtor, Downtown, West, False Creek North

Mike Stewart Vancouver (Century 21 In Town Realty) — Tue, 11 May 2010 14:52:49 -0700

First Time Home Buyers Guide Vancouver – Episode 1 – Getting Started!

By Mike Stewart, Vancouver Realtor

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This is the first post in a series of tips for First Time Home Buyers in Vancouver’s property market.

So you’re thinking of taking the plunge and buying your first home in beautiful Vancouver!

How much can I spend? Get Pre-Approved!

If you have several hundred thousand dollars in your bank account, great!

If not, you should speak to your bank or a mortgage broker to find out how large of a mortgage you can get. The bank or broker will give you a mortgage pre-approval which is a rough estimation of what you can borrow. This mortgage pre-approval is based on the information you provide the bank or mortgage broker. Remember, the more accurate and detailed the information you provide, the more accurate the pre-approval amount!

Here’s a list of mortgage brokers who can help you with a mortgage pre-approval:

Chad Watts 7787736631 cwatts@mortgagegrp.com

Rino Revel 604) 816-1976 rinorev@telus.net

Mandeep Jhutee 6045169406 mjhutee@hotmail.com

Jessi Johnson (604) 716-6474 jessi@jessijohnson.com

Now that you know what you can spend, its time to figure what that money can buy. Be sure to Check out Episode 2 of the Vancouver First Time Home Buyers Guide – Where to Buy!

If you have any questions, feel free to contact me at any time!

Huge Balcony with City View in One Bedroom + Den Condo at Raffles on Robson, Yaletown, Downtown Vancouver. Floor to Ceiling Windows and a Large Open Plan Kitchen. Close to Shopping, Dining and Entertainment on Vancouver's famed Robson Street.

Mike Stewart Vancouver (Century 21 In Town Realty) — Mon, 19 Oct 2009 16:22:31 -0700

View on ExposureRoom

Over 750sf of HUGE BALCONY at this brand-new open plan 1 bdrm & den at 903 - 821 Cambie Street at Raffles on Robson. This ultra bright suite features floor to ceiling windows throughout as well as high end dark flooring. The large open plan kitchen has thick granite counter-tops and features Miele, Leibherr, and Bosch appliances which are fully integrated into the cabinetry. The Bedroom has a large walk-in closet and the den is bright and airy. Located on Vancouver’s famed Robson Street, great shopping, dining, and entertainment are just steps away. INVESTOR ALERT The Seller had this suite rented furnished for $3200/month for the last 12 months [Full documentation upon request] Includes Parking. Call to confirm the Open Houses or to book a private showing!

Water Views of False Creek & George Wainborne/David Lam Park in this South East Exposure 1Bdrm + Den in Downtown Vancouver Yaletown.

Mike Stewart Vancouver (Century 21 In Town Realty) — Thu, 24 Sep 2009 17:49:11 -0700

Yaletown 1 Bedroom + Den Condo at 2306 1495 Richards Street, Downtown Vancouver

View on ExposureRoom

Welcome home to gorgeous False Creek Water & George Wainborne/David Lam Park Views! This bright and airy 1bdrm & den suite features floor to ceiling windows throughout with a cool South East Exposure. The open plan kitchen has thick granite counter-tops and stainless appliances and plenty of storage space. Great Views from the large Living Room that opens onto the Den and Kitchen as well as the big balcony that’s perfect for BBQer’s and outdoor dining. The den also has great views and is perfect for a home office. Large bedroom furniture will easily fit into the large bedroom which has a big walk in closet. Include Parking and Locker. Call now to confirm an open houses or to book a private showing.

Under Construction - Nearly Completed Fully Air Conditioned Modernist Gastown Show Home!

Mike Stewart Vancouver (Century 21 In Town Realty) — Fri, 14 Aug 2009 17:55:44 -0700

501 - 12 Water Street, Gastown, Downtown Vancouver
$ 419,000
ASSIGNMENT OF CONTRACT - UNDER CONSTRUCTION

Soon to be completed fully air conditioned Modernist Gastown Show Home! If you're the type that enjoys the newest, best and most up-to-date of everything, then Modern Garage by Salient is the place for you. This 1 bedroom open plan suite features polished concrete floors, Miele appliances, and sleek modernist European cabinetry. This suite overlooks Water Street, Historic Gastown's gorgeous main strip, and is located mere steps to cool patios at nearby restaurants Chill Winstons, 6 Acres, and Jules. Call 604 763 3136 for more information.

2008 1166 Melville Orca Place in Coal Harbour

Mike Stewart Vancouver (Century 21 In Town Realty) — Tue, 14 Jul 2009 18:50:22 -0700

Welcome home to this tastefully updated suite at Coal Harbour's Orca Place. This spacious 1 bedroom and den suite features recent floors throughout and a bright western Southwestern exposure. The bright kitchen has floor to ceiling windows and lots of storage space. Off the kitchen is the den which makes a perfect home office or computer room. The living room features a built in entertainment centre with surround sound. A very private and quiet bedroom is perfect for light sleepers. Orca Place features an exercise centre and is steps to Urban Fare, The Seawall, and everything great Coal Harbour has to offer. Call Mike Stewart at 604 763 3136 now to confirm the open houses or to book a private showing.

805 821 Cambie Street Raffles on Robson in Downtown Vancouver

Mike Stewart Vancouver (Century 21 In Town Realty) — Tue, 14 Jul 2009 18:44:35 -0700

Stylish Raffles on Robson. This spacious home measures over 770sf and has a large bedroom, den, and living room. The open plan kitchen features integrated Miele and Liebherr appliances, gorgeous granite counter tops, and tons of storage space. The large South facing Balcony is perfect for BBQ and outdoor eating and entertaining. Situated at the corner of Robson and Cambie, 805-821 Cambie is steps to the best shopping and restaurants in Vancouver. Raffles on Robson features a spa and exercise centre. Includes parking. Call Mike Stewart at 604-763-3136 now to confirm the open houses or to book a private showing.

Professional Photography for Listings - Cheapest way to get Top Dollar for your Property

Mike Stewart Vancouver (Century 21 In Town Realty) — Mon, 15 Jun 2009 18:54:13 -0700

Professional Photography and Real Estate Listings in Vancouver By Mike Stewart

It has been said that a picture says a thousand words.

What do terrible Listing Photographs say about the value of your home?

Poor listing photography undervalues your property and will never convey how beautifully maintained and decorated your home is. Here in Vancouver, terrible (or non-existent) photography for listings is RAMPANT! Have a quick look on Realtor.ca and you can see how many listings have either bad or non-existent photos.

For the worst of the worst check out the blog It's a Lovely Listing for a good laugh.

Getting a professional photography is one of the best ways to get top dollar for your home. I have all my listings shot by the great folks at the Real Estate Channel and as you can see they do a great job.

So remember - If you want to get top dollar when you sell a property, get professional photography!

I’d love to hear your thoughts in the form of a comment on my Vancouver Real Estate blog!

411-1989 Dunbar Street, The Sonesta in Kitsilano Listed by Mike Stewart

Mike Stewart Vancouver (Century 21 In Town Realty) — Wed, 10 Jun 2009 18:51:17 -0700

411-1989 Dunbar Street, The Sonesta in Kitsilano Just Listed by Mike Stewart By Mike Stewart

This is the video component for the Listing Campaign for 411-1989 Dunbar Street, The Sonesta Check out the listing on my site for more information!

2707-1495 Richards Street, The Azura in Yaletown Just Listed by Mike Stewart Vancouver Realtor

Mike Stewart Vancouver (Century 21 In Town Realty) — Wed, 10 Jun 2009 18:37:55 -0700

This is the web video component of Mike Stewart's webmarketing campaign for 2707-1495 Richards check out the link to learn more about this listing.

Welcome home to this spacious and bright 1 bedroom condo at Yaletown's Azura! Enjoy great City and Mountain Views high up on the 27th floor! This suite features a great open plan living dining kitchen area and a good sized balcony perfect for BBQing. The Kitchen has granite counter tops, stainless steel appliances, and lots of counter and storage space. The large bedroom has Mountain and City views and lots of closet space. The Azura features the Super Club which has a Squash Court, Gym, 24hr Concierge, Indoor Pool, Hot Tub, Sauna, Steam Room, 2 Movie Rooms with Projection Screen, 2 Guest Suites and much more. Call to confirm the open house or to book a private showing.

Terminus Penthouse 3 - 36 Water Street in Gastown Interior Video

Mike Stewart Vancouver (Century 21 In Town Realty) — Wed, 10 Jun 2009 18:30:26 -0700

Penthouse 3 - 36 Water Street, The Terminus in Gastown Rooftop Deck By Mike Stewart

The Video is the 2nd of 2 for Mike Stewart's Webmarketing campaign for Terminus Penthouse # 3 at 36 Water Street in Gastown.

This Video does not show the rooftop Deck. Please see the listings for that video

Welcome home to a Southern Exposure Penthouse with a huge Western exposure rooftop balcony measuring over 1100sf at The Terminus in Gastown! This spacious loft style 2 bedroom, 2 bathroom top floor home has geothermal air-conditioning which is both environmentally friendly and much less expensive to operate than standard AC. Open plan and gorgeously equipped with a Miele fridge, Bosch Washer/Dryer and dishwasher, the appliances are built in to the cabinetry. Walnut hardwood edge grain flooring throughout with porcelain tile in the bathroom areas. Over height ceilings throughout with lots of windows, this home has a patio off the main floor as well as very large roof top Patio that comes equipped with an outdoor kitchen including a grill and fridge. 36 Water St. is a brand new concrete building completed in December 2008 with 2/5/10 Warranty behind the facade of two 19th century hotels in the heart of Gastown. Includes two parking stalls and NO GST! Call now to book a private showing or to confirm the open houses!

Pet Lovers! Buying a Condo? Watch This Video Before You Buy!

Mike Stewart Vancouver (Century 21 In Town Realty) — Wed, 10 Jun 2009 18:22:51 -0700

Condo Pet Restrictions in Vancouver By Mike Stewart

Many people (like me!) think of their pets as being part of the family. When buying a condo people often overlook whether or not their pet will be welcome or allowed in the building they are buying. This oversight can be very expensive.

In the video and my recent Real Estate Blog post, I relate the story of my client who bought a place privately before he met me, only to realise there were no pets allowed in his new condo. He had to sell this place and buy a new place it is was not cheap. Always check those pet restrictions!

What is a Leaky Condo and How to Avoid Them!

Mike Stewart Vancouver (Century 21 In Town Realty) — Wed, 10 Jun 2009 16:45:24 -0700

Leaky Condos Explained By Mike Stewart Vancouver Realtor By Mike Stewart

This video is part of a discussion on Leaky Condos in Vancouver. Please check out my Vancouver Video Blog for more information on this or if you would like to comment on this video.