Canadian Real Estate Market Turns into a Buyers Market - 07/23/08 10:24 PM
Recent sales data form Real Estate boards around the country indicates that real estate market is changing to favour the buyer. Sales continue to decrease and benchmark prices for residential homes in most areas are moderating, in some areas trending down slightly since March.
"Real estate is cyclical and the numbers show that we've entered a buyer's cycle," explains Kelvin Neufeld, president of the Fraser Valley Real Estate Board. "Where appropriate, REALTORS® are recommending their sellers sharpen their prices, in particular for higher-end properties. On the other hand, there's still a steady appetite for mid-range properties priced competitively. Our average days-to-sell … (0 comments)

Falling Prices, what to do? - 07/23/08 11:58 AM
Falling Prices, what to do?
We have been so used to Rising Real Estate prices here in Southwest British Columbia that some now believe the sky is falling but what I believe is happening is a healthy correction to an over inflated market.  The Real Estate Market is no different then the Stock Market, when prices rise too high, too quickly the cost of buying becomes out of synch with what buyers can afford or are willing to pay.
There are many opportunities in a Falling Market but my favourite is the search for the dream home. 
Higher value homes lose … (1 comments)

# 2107 - 651 Nootka Way, Port Moody, BC - 07/22/08 08:14 PM
#2107 - 651 Nootka Way, Port Moody, BC - Offered for Sale at $416,800
The fabulous brand new GST already paid highrise Sahalee, gorgeous views of Burrard Inlet and Eagle Ridge. This 2 bed/ bath luxury apartment features granite counter in the modern and well equipped kitchen as well in the ensuite. Come see the incredible amenities this concrete tower offers! The 15,000 sq.ft Canoe Club with outdoor pool, jacuzzi, tennis court, basketball court, conference room, workout facilities, theatre entertainment room and much much more! Close to shopping & restaurants at Newport Village and the ever popular Port Moody waterfront and … (2 comments)

#2507 - 651 Nootka Way, Port Moody, BC - 07/22/08 08:09 PM
#2507 - 651 Nootka Way, Port Moody, BC - Offered for Sale at $425,800
The fabulous brand new GST already paid highrise Sahalee, gorgeous views of Burrard Inlet and Eagle Ridge. This 2 bed/ bath luxury apartment features granite counter in the modern and well equipped kitchen as well in the ensuite. Come see the incredible amenities this concrete tower offers! The 15,000 sq.ft Canoe Club with outdoor pool, jacuzzi, tennis court, basketball court, conference room, workout facilities, theatre entertainment room and much much more! Close to shopping & restaurants at Newport Village and the ever popular Port Moody waterfront and … (0 comments)

Canadian Govt. Ends 100% Financing and 40-Year Amortizations - 07/10/08 12:02 AM
 
CMHC Drops 100% Financing and 40-Year Amortizations
BREAKING NEWS
This will be a big surprise to many. The Department of Finance has just announced that it will no longer back the following:
  100% financing (5% will now be the minimum downpayment on an insured mortgage) 40 year amortizations (35 years will be the new maximum on insured mortgages) The government will also require the following with all new mortgages it backs:
  A new 620 minimum credit score requirement 45% maximum TDS ratio New loan documentation standards The new rules will take effect October 15, 2008. This … (4 comments)

Canadian Govt. Ends 100% Financing and 40-Year Amortizations - 07/09/08 11:58 PM
CMHC Drops 100% Financing and 40-Year Amortizations BREAKING NEWS This will be a big surprise to many. The Department of Finance has just announced that it will no longer back the following:
  100% financing (5% will now be the minimum downpayment on an insured mortgage) 40 year amortizations (35 years will be the new maximum on insured mortgages) The government will also require the following with all new mortgages it backs:
  A new 620 minimum credit score requirement 45% maximum TDS ratio New loan documentation standards The new rules will take effect October 15, 2008. This affects CMHC insured … (2 comments)

Maple Ridge, British Columbia - 07/09/08 11:46 PM
For Maple Ridge Real Estate Information Contact Scott Leaf - Keller Williams Results Realty
604-839-8239 - www.scottleaf.com

… (1 comments)

Greater Vancouver Real Estate Board June Stats - 07/09/08 11:29 PM
Market activity offers awaited relief for homebuyers   
 VANCOUVER, B.C. - July 3, 2008 -Increased property listings and moderating home prices have eased the Greater Vancouver housing market into a buyer's phase. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver declined 42.9 per cent in June 2008 to 2,425 from the 4,244 sales recorded in June 2007. 
     New listings for detached, attached and apartment properties increased 18.3 per cent to 6,546 in June 2008 compared to June 2007, when 5,533 new units were listed. 
       "Although housing prices, on a year-over-year … (0 comments)

Points:To pay or not to pay - 07/07/08 09:45 AM
Numerous closing costs come with any mortgage. There's a fee for an appraisal and a fee for a credit report... and the lender has its fees, too. And don't forget about the attorney fee, title insurance and escrow charges. Closing costs can vary from state to state and province to province, but you really don't have much choice of whether you want a survey or if title insurance is right for you. There will be a variety of services performed and records searched by different companies, and none of these come free of charge.
But there is one closing cost that … (0 comments)

#317 - 2375 Shaughnessy St, Port Coquitlam, B.C. - 07/05/08 10:54 PM
Roomy 1 bedroom centrally located, large living area, crown mouldings and panelled walls with contemporary colours. Quiet corner with patio for BBQ. Walking distance to West Coast Express. Minimal heating bill as gas fireplace heats apartment very well. Steps away from Gates Park, and all levels of Public School.
Offered for sale at $189,000



… (0 comments)

1398 Oxford Street, Coquitlam, BC - 07/05/08 06:10 PM
First time on the market, this luxurious Burke Mountain custom built home, feats 2 wet bars, built in 10 person hot tub w/ ventilation system, amazing sound separation between floors, nanny suite on main & a fully fin bsmt. This home has many extras: laundry chute, wet bar in DR & in upstairs fam rm, 1 bdrm suite w/ LR w/ separate entrance & roughed-in plumbing for a second suite. Located at the quiet top end of Oxford St on Burke Mountain, this 5200 sf custom designed home w/ 6 bdrms has all the room a large family will ever need!
… (0 comments)