FREE // SUMMER 2012
Royalty MEET OUR REALTORS速! p.10
COMMERCIAL OPPORTUNITIES! P.16 P.17
HOW THE
MORTGAGE RULE CHANGES
AFFECTS YOUR PURCHASE
HOME IMPROVEMENT for
70 P.18
+
RESIDENTIAL PROPERTIES
FIND YOUR DREAM HOME
today
ZERO DOWN
HOW TO GET MORTGAGES make smart investments with less
p. 3 / 4 / 14
Va n c o u v e r
1806 638 BEACH CR Vancouver shahin behroyan 604.338.5652 2 Beds 2 Baths, plus den, 1150 sq.ft Rare waterfront units at the ICON Stunning park and False Creek views ac, gas fireplace, s/s appliances 1 storage, 1 parking
$985,000
504 1330 HORNBY ST Vancouver
$228,800
leigh walker 604.313.7607
$409,800
nasser fazli 604.921.1785
1003 1205 HOWE ST Vancouver
$455,000
thomas chung 604.657.3005
524 sq.ft • 1 bedroom, 1 bath Bright corner suite at Symphony Place Luxury finishing, city views
665 sq.ft • 1 bedroom, 1 bath 10' ceiling, spacious open living room Insuite storage, solarium plus locker
1103 1200 ALBERNI ST Vancouver
1003 1188 W PENDER ST Vancouver
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440 sq.ft • studio Two blocks from Yaletown, Seawall Fully renovated, updated kitchen
1406 565 SMITHE ST Vancouver
204 919 STATION ST Vancouver
$435,000
jennifer kwok 604.339.2823 980 sq.ft • 2 bedrooms, 2 baths Beautiful loft with 18 ft ceilings Custom built wall-to-wall closet
$519,000
hida zand 604.926.9000 888 sq.ft • 2 bedrooms, 2 baths Partly renovated with new carpets 1 parking & 1 storage. Great investment
$529,000
iman moghadam 604.721.6209 610 sq.ft • 1 bedroom, 1 bath Fully updated with laminate flooring Custom TV unit.
3706 1011 W CORDOVA ST Vancouver
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ghazal ighani & vince naziri 778.999.7999 2 Beds 3 Baths, 2320 sq.ft All the amenities at your fingertips
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utilize overhead space
Shelves are a great thing to have around the apartment. They can store books, pictures, knickknacks, and also act as a decorative element to your wall. The best thing is, they are cheap and comes in a variety of sizes, materials, and colors! You can also store underused items into storage boxes or baskets, and place them on top of bookcases dressers, or closets. Use colorful containers or ceramics or little knicknacks such as spare keys, pens, bags of treats for your pets.... A little bit of coffee beans in a jar also goes a long way in absorbing cooking and pet odors!
Choose the right furniture When hunting for that perfect piece for your flat, keep an eye out for furniture with drawers on the bottom, such as beds and coffee tables. Modern, sleek, straight lined furniture will usually take up less space than traditional ones, and will make your apartment appear more spacious.
Eliminate non-essential items The longer you live in your apartment, the more stuff you will probably collect, and the more cluttered or crowded it will feel. Take a hard look at your possessions and ask yourself: “Do I really need this?� Many of us will impulse buy items that will add to the clutter of our homes without improving our quality of life. When the next season rolls around, it might be a good idea to look inside your closet and donate clothing you no longer wear; it will create more space and good karma.
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not all home improvements are created equal
A swimming pool A pool may seem like the ultimate luxury to you but when it comes to selling it could be more of a hindrance than a help. It may be seen as a safety hazard by parents with small children. Consider also whether it's usable most of the year. While a pool may be a real selling point in cities with warm and sunny climate, it could be a serious liability in cities with rainy and mild weather.
a rt i c l e b y S i n a Ta j b akhsh
T
he day may come when you want or need to sell.You need to realize that not all home improvements are created equal. Some will increase the value of your home, Other Factors That Affect Resale Value and some will actually make selling more difficult. Almost any project has the potential to negatively affect Even if you do the right kind of projects, you're not resale value. A general rule is that the more personal your guaranteed a high return on your investment. Before choices are (meaning they're made to suit your particular deciding whether an improvement will add value, consider lifestyle or taste) the less likely they are to have a positive some more general factors. effect on resale value. This doesn't mean you shouldn't do the conform to the neighborhood project. It just means you should anticipate Renovating, remodeling, that your home may be more difficult to and improving your home If you live in a neighborhood of twobedroom bungalows and you add a second sell as a result. For example, while a can be great ways to give story, you aren't likely to see a high return. soundproof music studio might be your Buyers looking for homes that large won't dream come true, it won't be practical for a it a makeover. young family looking for an extra bedroom But will they increase be looking in your neighborhood. On the other hand, if many of your neighbors are for their new baby. These types of buyers your property value? making similar improvements (perhaps won't pay the premium it cost you to build because these affordable homes are on large lots and in a great the studio and they may be turned off by it. school district), you might fare well doing the same. Here are some general indicators that a project might have negative resale value
Luxury upgrades While no one wants to see the absolute cheapest renovations in a home, the highest-quality upgrades often don't have the return of mid-range ones, unless you're in a very high-end home. Marble floors in the bathroom or custom cabinets in the kitchen may be nice, but you shouldn't assume buyers will pay proportionately for these luxuries. Rooms that don't fit with the floor plan Converting the back patio to a family room may be a perfect way to add more space to your home but, if your dining room window now looks into the family room, it probably won't be well loved by buyers. Garage conversions Garage conversions can give homeowners much needed space, but buyers like having garages, especially in places where harsh weather might damage their cars. Therefore, converting this space usually won't increase value.
Upgrades to a newer home won't have the same impact that they would in an older home In a 1950s home, an original kitchen will likely make buyers think: "I guess we'll start with a kitchen remodel!" The same isn't necessarily true of a house that's just a few years old, which means you're less likely to increase a newer home's value significantly by remodeling. be in sync with the rest of the house Focusing narrowly on only one room "the perfect master suite", for example can be a mistake. If the rest of your house was last updated 30 years ago, it will look even shabbier in comparison to the upgraded suite. Stay within the price range for similar homes From a practical perspective, you shouldn't expect to recover as much from improvements to a modestly priced home as you would for improvements to a high-end home.
Have questions? contact Sina at: 778.895.6245 | sinahomes@gmail.com
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va n c o u v e r
1777 W 57TH AV Vancouver
$2,580,000
jenny wang 604.780.4725
1103 189 NATIONAL AV Vancouver
$588,888
1704 125 MILROSS AV Vancouver
$669,000
moe khalilbeigi 604.727.4044
naser sardari 778.322.8200
4680 sq.ft • 6 bedrooms, 4 baths Lot of 65' x 120'. Significant renovations Bathrooms totally redone, new kitchen
1095 sq.ft • 2 bedrooms, 2 baths, den Bosa-built "Sussex" at City Gate North Shore and mountain view
1097 sq.ft • 2 bedrooms, 2 baths Waterfront North False Creek Short walk to shopping & transit
2083 W 20TH AV Vancouver
401 1415 W GEORGIA ST Vancouver
2101 388 DRAKE ST Vancouver
$4,270,000
mohammad vaziri 604.825.1731
$749,000
$775,000
nasser fazli 604.921.1785
mohammad vaziri 604.825.1731
3300 sq.ft • 4 bedrooms, 3 baths First Shaughnessy District Buildable area 5900 sq.ft
1350 sq.ft • 2 bedrooms, 2 baths Breathtaking Coal Harbour water view Renovated, many high-end upgrades
1220 sq.ft • 2 beds, 2 baths, open den Water and mountain view Completely renovated in 2004
1602 1455 HOWE ST Vancouver
3401 1028 BARCLAY ST Vancouver $1,180,000
1509 1212 HOWE ST Vancouver
1222 sq.ft • 2 bedrooms, 2 baths Newest landmark building - The Patina Heart of Downtown
571 sq.ft • 1 bedroom, 1 bath Floor plan maximizes space and light Open concept, perfect for entertaining
$924,950
arman khabbaz 778.840.1690 1132 sq.ft • 2 bedrooms, 2 baths Geothermal heating/cooling LEED building, "Best Hi Rise" in 2007
$393,900
saleem dhalla 778.322.5040
karim lalji 604.782.1424
102 546 BEATTY ST Vancouver
$399,900
omid khosravi 604.780.4725 623 sq.ft • 2 bedrooms, 2 baths Sought-after Crane building loft with soaring 12' ceilings High-end appliances, finishes, polished concrete floor
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n o rt h va n
340 W 28TH ST North Vancouver sahar barati 778.829.7724 5 Beds, 5 Baths, 3104 sq.ft custom designed home Top end materials throughout, hardwood flooring with radiant heat Come see the unmatched craftsmanship for yourself!
$1,398,000 3460 GARIBALDI DR north Vancouver
$759,800
iman moghadam 604.721.6209
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1507 sq.ft • 3 bedrooms, 3 baths Newly renovated house located on sunny south facing lot Great family neighbourhood of Roche Point
$285,000
shahin behroyan 604.338.5652
$579,900
sina tajbakhsh 778.895.6245
810 2004 FULLERTON AV North Vancouver
$300,000
naser sardari 778.322.8200
927 sq.ft • 2 bedrooms, 2 baths Great southeast ocean view Minutes away from shops, sea bus
613 sq.ft • 1 bedroom, 1 bath Rare south facing unit Views to river and downtown Vancouver
1763 PHILIP AV North Vancouver
21 251 W 14TH ST North Vancouver
319 W 27TH ST North Vancouver
$749,800
sahar barati 778.829.7724 One of subdivided lots, 33' x 135' Excellent location All services at property line
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515 sq.ft • 1 bedroom, 1 bath Impeccable shape, central location Absolute no wasted space
1106 175 W 2ND ST North Vancouver
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315 155 E 3RD ST North Vancouver
$898,000
kam nouri 604.537.4463 2283 sq.ft • 5 bedrooms, 3 baths Fully renovated with mortgage helper Desirable Pemberton area
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$590,000
paolo h. cartocci 604.728.6898 1413 sq.ft • 3 bedrooms, 2 baths Well kept large town house New floorings, carpets, bathrooms
w e s t va n
2495 SKILIFT RD west Vancouver
$2,580,000
iman moghadam 604.721.6209 3528 sq.ft • 6 bedrooms, 4 baths Chelsea Park cul-de-sac, gorgeous view Renovated with elegant updates
780 GREENWOOD RD West Vancouver shahin behroyan 604.338.5652 3000 sq.ft on 0.48 acres • 5 bedrooms, 3 baths Right off Eyremount, overlooking city, mountains and water Heated driveway, 2000 sq.ft deck, close to best schools in bc
$2,725,000
601 3355 CYPRESS PL west Vancouver shahin behroyan 604.338.5652 2018 sq.ft • 2 bedrooms, 3 baths Panoramic views, open plan luxury a/c (heat pump), hardwood floors Gourmet kitchen with quality appliances Amenities include 2 guest suites
$1,480,000 - 07 -
Burnaby
1406 4178 DAWSON ST Burnaby farhood hashemian 604.719.3827 2 Beds, 2 Baths, 880 sq.ft Award-winning developer Quiet & well kept , many features Walking distance to shopping, Skytrain
$449,000
2206 3755 BARTLETT CT Burnaby
$221,000
maria belanic 604.617.8259
1103 2232 DOUGLAS RD Burnaby
$588,000
saleem dhalla 778.322.5040 1071 sq.ft • 2 bedrooms, 2 baths Balcony facing away from the highway Newest North Burnaby development
7718 MAYFIELD ST Burnaby
1902 4400 BUCHANAN ST Burnaby $628,000
$445,000
faye cheveldave 604.904.7788 972 sq.ft • 2 bedrooms, 2 baths Excellent layout, many amenities Close to skytrain, shopping
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726 sq.ft • 1 bedroom, 1 bath Large bright corner unit Close to transit, easy access to SFU
1401 2088 MADISON AV Burnaby
$1,248,000
sahar barati 778.829.7724
3444 sq.ft • 8 bedrooms, 6 baths Designed with pride, many features Large bright rooms, laminate floors
sina tajbakhsh 778.895.6245 1125 sq.ft • 2 bedrooms, 2 baths, den Northeast Corner unit in MOTIF Panoramic view, minutes to everything
1806 4250 DAWSON ST Burnaby
$458,000
jenny wang 604.780.4725 830 sq.ft • 2 bedrooms, 2 baths Nice bright corner suite Minutes to Gilmore Skytrain station
2705 4888 BRENTWOOD DR Burnaby
$378,000
kam nouri 604.537.4463
699 sq.ft • 1 bedroom, 1 bath, and den. North facing unit
in the same building: 2408 & 2608
$412,000
fara ghafari 604.723.0721
831 sq.ft • 2 bedrooms, 2 baths, incl parking and storage
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tri-cities
207 295 SCHOOLHOUSE ST Coquitlam $194,900 maria belanic 604.617.8259
2102 400 CAPILANO RD port moody
$428,800
105 3050 DAYANEE SPRINGS BV Coquitlam $428,800
omid mashinchi 604.771.6996
rashid a. lalani 604.721.7049
681 sq.ft • 1 bedroom, 1 bath Well kept and updated home Short drive to Hwy 7 & 1
1070 sq.ft • 2 bedrooms, 2 baths Mountain and city views Desirable Suter Brook Village
987 sq.ft • 2 beds, 2 baths Planned community in Coquitlam Close to shopping, rec center
1702 2982 BURLINGTON DR Coquitlam $509,800
610 GIRARD AV Coquitlam
15 130 BREW ST port moody
omid mashinchi 604.771.6996
$459,900
rashid a. lalani 604.721.7049
$498,800
omid mashinchi 604.771.6996
1171 sq.ft • 2 bedrooms, 2 bath Edgemont at Westwood Village Functional bright, open plan
1450 sq.ft • 4 bedrooms, 3 baths Beautiful recently updated duplex Quiet cul-de-sac, convenient location
1316 sq.ft • 2 bedrooms, 3 baths 2 floors with soaring ceilings Spectacular amenities
3001 2978 GLEN DR Coquitlam
3402 GISLASON AV Coquitlam
2187 PARK CR Coquitlam
$429,000
moe khalilbeigi 604.727.4044 888 sq.ft • 2 bedrooms, 2 baths Tranquil north west exposure Central location, close to transit
$779,900
omid khosravi 604.780.4725 3642 sq.ft • 6 bedrooms, 6 baths New family home development Close to all the school and parks
106 / 110 MOODY ST port moody
$998,000
heather kim 778.847.1452 3110 sq.ft • 5 bedrooms, 5 baths Panoramic view of Inlet and mountains Suite with separate laundry and entrance $575,000
alan j. charlton 604.787.7357
1602 sq.ft • 106 has 4 bedrooms, 1 bath, 110 has 3 bedrooms, 1 bath, Built by the contractor for their own home, quality construction through out!
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omid khosravi
michael t. hickey
mimi lauzon
jennifer kwok
shahin behroyan
iman mogadam
mohammad vaziri
maryam hassanian
paolo cartocci
omid mashinchi
mahmood ahamed
mana erfani
tito ohep
samer sahmani
david snider
sara nouri & kam nouri
jenny wang
justin yvon cote
leigh walker
farid hosseini
saleem dhalla
jan-michael flores
farhood hashemian
thomas chung
hida zand
christina modonese
fahad abrahani
hamidreza ahmadian
maria belanaic
reza mousavy
sher nima
nicholas alexander
omid tehrani
farshad nasirbeigi
hossein soltani
mohammad khalilbeigi
karim lalji
adam mazaheri
robert patyk
emilia gonzales
naser fazli
arun dua
peyman taleghani
heather kim
christine xu
ashley cadman
alana thomson
salar sar salari
colleen gail last
kiaffar ghaffari
pritpaul k samra
irina novinska
gurmesh pathal
mike mehin
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focus is your success
our
w e a r t h e c row n, l e t u s a dv i s e i t
managing broker Soroush Babaeian 604.729.4534
leiha fiddler
farzad kossari
henry win
brad soltani
rashid lalani
vince nazari
alnasir jessa
adrian pereira
amir soltani
oscar barrera
daniel preston
pedram naimi
shaun raffie
arash bahmani
fara ghafari
linda yurechko
meysam soltani
farhad sanai
naser sardari
mary rose kotyakova
azadeh sazegarian
elena vinarskaia
desiree monsurate
shoichi fujii
randy rudland
tesina lejune
sonia o’sullivan
moyez pirani
milad khavari
mel mcconnell
bruce keshavarz
amy nguyen
britney fremeau
hamid teimoori
ron sanyal
ghazal ighani
conrad schwandner
farbod abtin
soroush zonuzi
andrea brewer
alan charlton
faye cheveldave
latif hossain
sina tajbakhsh
bill milligan
naheed walji
sam jira
tyler gump
shoeleh behinfar
steven corcoran
arman khabbaz
igor ustyushenko
shiva anaraki
farzin dian
robert rivington
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our realtor®
I
Paolo Cartocci
was born in Sao Paulo, Brazil. A city that holds over 22 million people and has an infinite range of Real Estate. Overwhelmed with many niche architectures growing up, I truly began to appreciate the creativity behind every development ranging from the slums in Rio to multimillion dollar properties. I am very passionate and driven with what I do. I am also fluent in Portuguese, Spanish and Italian. Due to my multi-continental upbringing, I have a great connection with a diverse market. I actually enjoy negotiating challenging or even problematic contracts, which have amplified my professional experience throughout my Real Estate Career, and for this I have been more than grateful.
In today’s housing sales and marketing career, a Real Estate specialist needs to be educated with both merging markets from an economical perspective and a foreign investment insight combined with our own backyard and neighbourhood analyses. 90% of my sales have been from current home owners wanting to downsize and from foreign investors / immigrants specifying on an inspiring venture. I have experience and success with clients who wish to sell their house in the British Properties and downsize to a breathtaking water view condo in Coal Harbour or Yaletown. I can take your from your current home in the North Shore and surely provide to you the most beneficial condo within your financial availability, and at the same moment save you money and valuable time. My expertise is dived into 3 areas, West Vancouver, North Vancouver and Downtown. For those who are wishing to sell, I feel secure to say that the knowledge I am able to share with my clients have landed them safe investments given our real estate markets and economical fluctuations. The main question that I get is, “what is happening with our market, and where should I invest?” Several proven factors have given enough evidence showing that our market has been flooded with listings. The sales ratio compared to new listings will be lower, thus pushing us into a buyer’s market by the end of summer. I can help you sell your home in this perplexing transition and to create an effective purchase for those who are looking to buy. Land is one of the rarest commodities available; the obvious answer would be to purchase it as an investment. I have sourced several locations holding investment potentials that can promote healthy numbers in your portfolio. Seeing the tranquility overcome a client’s face when they sell their unique home or the enormous smile after the purchase of their first home forms the motivation that keeps me going. Feel free to contact me at 604.728.6898.
3004 1211 MELVILLE ST Vancouver
3 bedrooms 3 bathrooms 1340 sqft, 2 parking
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Rare and one of the best floor plans for this upgraded exclusive condo. Phenomenal views overlooking Coal Harbour, English Bay, North Shore and far East. From light hardwood floors to granite counter-tops, a true chef's gourmet kitchen including a gas burning stove and stainless steel appliances. The prestigious Ritz offers top of the line amenities, concierge and 24 hour security. Recent upgrades include expansion of the living room into the sunroom, come and see for yourself!
richmond / new west / surrey
211 8600 ACKROYD RD richmond
$285,000
adrian c. pereira 604.339.4420
208 8860 NO 1 RD richmond
$319,500
8266 SABA RD richmond
$559,000
vince nazari 778.999.7999
adrian c. pereira 604.339.4420
949 sq.ft • 2 bedrooms, 1 bath Central Richmond, close to schools Well maintained, cozy condo
1095 sq.ft • 2 bedrooms, 2 baths, den Quiet end-unit, nice and bright Crown moulding, fresh paint & more
1268 sq.ft • 3 bedrooms, 3 baths Well kept town home at the Chancellor Heart of Richmond centre
707 200 KEARY ST new Westminster
207 74 MINER ST new Westminster
905 200 KEARY ST new Westminster
$274,990
daniel preston 604.617.5981
$314,900
$324,900
daniel preston 604.617.5981
mahmood s. ahamed 604.618.0039
740 sq.ft • 2 bedrooms, 1 bath, 1 parking Adjacent to Sky-train Granite counter tops, s/s appliances
1236 sq.ft • 2 bedrooms, 2 baths New carpets, large loft Scenic views of the Fraser River
870 sq.ft • 2 beds, 1 bath, 2 parking Spacious top floor, corner unit Mountain view, full warranty
1706 39 6TH ST new Westminster
1308 5th Av new Westminster
2417 244 SHERBROOKE ST new westminster $359,900
$329,900
arash bahmani 778.861.2245 657 sq.ft • 1 bedroom, 1 bath, den Spectacular river views, BOSA built Individually secured living floors
$2,690,000
daniel preston 604.617.5981 Proposed 39 apartment units 7 townhouse units Total building area of 49,241 sq.ft
saleem dhalla 778.322.5040
1127 sq.ft • 2 bedrooms, 2 baths Gorgeous Penthouse floor Facing open greenspace, bright spacious
310 & 312 STRAND AV new westminster 2129 sq.ft • 6 bedrooms, 5 baths Brand new house! Come see for yourself.
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$799,000
sahar barati 778.829.7724
REBG V ' s t i p s o n h o w t o
Green your home
Clean your furnace filter
This optimizes performance. Use curtains
In the daytime during summer, close to help cool your home. Install ceiling fans
LiveSmart BC will cover $150 of the cost.
The energy it takes to run a fan is less than an air conditioner. In summer, make sure the fan’s blades are rotating anti-clockwise for a cooling effect. In winter, the fan should be running clockwise, pushing the warm air down.
Install a high-efficiency heating system
Use an electic fan
Make sure it’s ENERGY STAR rated.
Skip the air conditioning. On hot summer days, place a bowl of ice in front of a fan to cool down.
Get an energy audit
Weatherize your home
From windows (BC Hydro provides grants of $60$120) to doors to insulation and weather stripping. Don’t forget to seal your ducts.
Low flow shower
Hot water accounts for 25% of your energy costs. For a $15 investment you can save half the water of a standard shower say experts.
Insulate your pipes
It will prevent costly heat loss. insulate your hot water heater
Buy a pre-cut jacket or blanket for $10–$20. You’ll save up to 10% on heating costs. Sensor lights
Turn lights off outside when not in use. Install a programmable thermostat
There are many great shower heads that lets you choose the water flow and pressure, so you can adjust accordingly to your needs.
Set it lower at night and during the day when you’re away. Lower the temperature. Each degree below 20C saves you 3-5% on heating costs.
High efficiency or dual flush (you choose the amount of water used) toilets
Change your light bulbs
These are now required in new homes because of water savings.
Lighting accounts for 15% of your energy bill. Replace old bulbs with ENERGY STAR rated bulbs.
Loan programs
pictured: a CFL bulb. Switching to CFL is not only a great way to reduce energy bills, they have a way longer life than traditional light bulbs, saving you money in the long run. You can get them at your local home improvement and drug stores. There are many selections including ones that mimic the incandescent glow.
Pay-as-you-Save (PAYS) loan program will help home owners and businesses finance energy efficiency improvements through a loan from BC Hydro or FortisBC. Expected to launch in 2012.
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s o u r c e : REBG V
surrey & beyond
66 15152 62A AV Surrey
$349,900
pedram naimi 604.345.3339
117 15152 62A AV Surrey
$344,900
28594 104TH AV maple ridge
$675,000
omid khosravi 604.780.4725
omid khosravi 604.780.4725
1450 sq.ft • 3 bedrooms, 3 baths Quiet and safe cul-de-sac HUGE fenced backyard great for BBQs
1356 sq.ft • 3 bedroom, 3 baths 9' ceiling on the main floor Resort style amenities
2052 sq.ft • 4 bedrooms, 1 bath 5 acres, a true designated heritage site 5 years of property tax exemption
28650 104TH AV maple ridge
5013 WESTMINSTER AV ladner
A312 8929 202ND ST Langley
$560,000
jeannie gagne 604.377.0619 Access off half a cul-de-sac 5 Acres, unique shape lot View to the west
28702 104TH AV maple ridge
$525,000
jeannie gagne 604.377.0619 S/w to Iron Mountain Golf Course State River Valley, Silvermere Lake view 5 Acres
$619,900
nicholas alexander 604.910.7815
$269,900
pedram naimi 604.345.3339
1815 sq.ft • 3 bedrooms, 3 baths Charming family home close to park Walk score of 87!
833 sq.ft • 2 beds, 2 baths High end finishing, laminate floors Close to shopping, transit
5748 EMILY WY Sechelt
801 Vancouver St Creston
$319,900
1400 sq.ft • 3 bedrooms, 2 baths Completely fenced yard Functional layout
85 unit senior rental building Ready to complete incl. proforma permits, plans, appraisal
Telegraph Trail Langley 91.6 Arces across from the Belmont Golf Course Largest privately held Parcel this close to Vancouver Heart of the Diamond Triangle, a developers dream
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$1,990,000
daniel preston 604.617.5981
oscar barrera 778.228.2811
$9,998,000
alan j. charlton 604.787.7357
commercial
confidential Vancouver
$74,000
sonia o'sullivan 604.518.5081
1059 DENMAN ST Vancouver
$140,000
sonia o'sullivan 604.518.5081
1457 LONSDALE AV north Vancouver
$399,800
soroush babaeian 604.729.4534
Specialty Food in high traffic area Well established, regular clientele 1000 sq.ft with kitchen, washroom
Flying Wedge Pizza, English Bay location Well established for 10 years Lots of tourists, high-rise residents
Franchise coffee shop, Central Lonsdale Steady, high revenues & sales Long term lease
840 3041 152nd St Surrey
2433 264 ST Langley
4 12350 HARRIS RD Pitt Meadows
$149,000
michael hickey 604.762.6429
$429,000
michael hickey 604.762.6429
$48,000
michael hickey 604.762.6429
Profitable vehicle relocation service Profits to owner/operator $163K/year. Includes five transport trucks
Royal Donair located on busy street Great corner exposure Great to start as a "family Business"
104 2801 ST JOHNS ST
$865,000
101 2801 ST JOHNS ST
12155 191B ST pitt meadows
CONFIDENTIAL Vancouver
$335,000
114 MOODY ST
$595,000
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Newly built, free-standing Edo Sushi Located in busy stripmall Sales strong and growing
Mix-use zoning in central Port Moody, may be sold together. More info below
$479,000
michael hickey 604.762.6429 Very well managed fitness centre Profitable & stable membership Great equipment, solid financials
$926,500
michael hickey 604.762.6429 Building Supplies company Works directly within the industry Incl $300K in current at-cost inventory
101/104 2801 St Johns, 106/110 114 Moody St port moody $2,795,000 alan j. charlton 604.787.7357 Prime corner building in a designated Multi-Family area Mixed use zoning Across the street from the future Evergreen Line Station
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S
o you happened to pick up this real estate magazine to look through some pictures, admire the success and beauty of a well appointed home in Vancouver, and one of the first and lasting thoughts that should resonate with you is the desire to begin building your real wealth portfolio, or expanding and moving your existing holdings to suite your ever changing needs, and growth in the industry. As you may have heard, the focal point of completing the second quarter and heading into the third quarter are the Mortgage Rule changes by our governor at the Bank of Canada, Mark Carney.
here are the facts of how this will affect the average client at the $500k range: • High Ratio mortgage rules are changing July 9th. • Max amortization reduced to 25 years from 30 years • Max debt servicing ratio reduced to 39% from 44% • Max purchase price of $1,000,000 • Clients with less than 20% down payment will no longer be able to purchase a house over $1,000,000
current rates with payments per $100,000 with 25 year amortization 1 year fixed 2.39% $442 2 year fixed 2.49% $447 3 year fixed 2.69% $457 4 year fixed 2.99% $472 5 year fixed 3.09% $477 10 year fixed 3.89% $520 *on approved credit rates subject to change
bcrea 2012 Second Quarter Housing Forecast Regionally, Lower Mainland markets are expected to experience fewer sales this year than last as an exceedingly strong first quarter of 2011 didn’t repeat itself in 2012. However, Interior markets are expected to post much stronger results. The average annual
realty check vince nazari 778.999.7999 here are a few examples of how the rule change affects your purchase: • With the current rules it takes around $67,000 to qualify for a $500,000 purchase with 5% down payment. After July 16th the same client will need to earn $82,000 to qualify for the same purchase plus their payments will be $250 more per month. • With the current rules a client can purchase an one million plus property with 5% down payment after July 16th this same client will need 20% down payment. On a $1,000,000 purchase that's an extra $150,000. • If interest rates increase, these scenarios will only be amplified. For example, if interest rates went to 4% and using the new rules the client who could purchase a $500,000 house right now with $67,000 income would need to have an income of $90,000. Given globalization factors, currency fluctuations, volatility in the stock market, adverse banking publicity, and negative consumer sentiment, leaves only one Haven for your future. These changes have been implemented to maintain the health and balance of our economy on the global stage. Be one of the few to say I own in Vancouver & sign the Dotted Line.
mls® residential price in the province is forecast to dip 3.9 percent to $539,400 this year before increasing 1.4 per cent to $547,000 in 2013. The decline in the average is largely the result of improved market conditions outside of the Lower Mainland creating an increased number of lower priced greater vancouver transactions, thereby residential skewing the average price lower. In addition, a source: BCrea notable shift in the mix of home types sold in Vancouver last year artificially skewed average prices in the market. This isn’t being repeated in 2012 leading to declining average price statistics where the typical home price is stable.
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With the change in mortgage rules, our in-house mortgage broker shows you how to make smart investments... with less!
M
ost of the public is unaware they can buy a property with less than 5% down. Most lenders do not offer financing options like this, but a few do, and surprisingly, they are still available even after the mortgage rule tightening of July 9th.
zero down
3% cash back
It is possible to purchase a property with 0% down payment.
This product is designed for people who have some money saved but not enough for the full 5% down payment or who possibly have a family member who is willing to gift some funds but not enough for the full 5% down payment.
While this mortgage product is commonly referred to as a “zero down” mortgage, the true definition is it’s a 5% cash back mortgage whereby the lender advances 5% of the purchase price at closing. The 5% advanced by the lender does not have to be repaid but is recovered by the higher interest rate charged for the term. This mortgage is only available for people who have a high credit score and provable income which can debt service the payments. Since this product is considered 95% financing it will be subject to high ratio insurance. The insurance premium is added to the mortgage and is the same percentage as with a 5% down payment. If you are a First Time Home Buyer and you purchase for under $425,000 you are not required to pay property transfer tax. You will truly be buying a property having only saved enough for legal fees and adjustments. As an example, let’s assume you would like to buy a $300,000 condo but do not have the 5% down payment. $300,000 purchase price $15,000 = 5% cash back (advanced at closing by the lender) $285,000 = 95% financing $7,837.50 = High ratio mortgage insurance (required for < 20% down) $292,837.50 = Total mortgage amount $1,701.49 per month at 4.99% (for 5-year fixed with a 25-year amortization)
This is probably more than you are paying for rent but at the end of the 5-year term your principal remaining will be $259,142.44. Assuming there is no increase in property value you will still have built up $40,857.56 in equity. This is equivalent to saving $680 per month for 5 years. If we factor in the high ratio insurance of $7,837.50 your equity would be $48,695.06. On top of this, if you were to keep renting and purchase a home in the future, it’s possible interest rates will be as high as it was only three and half years ago when 4.99% was the 5-year discounted rate.
The 3% cash back mortgage is similar to the 5% cash back but the lender only advances 3% at funding. You are still required to put down 2% to total a 5% down payment. For this example let’s use a 3-year fixed rate with 3% cash back. $300,000 purchase price $6,000 = from your savings or gifted $9,000 3% = cash back (advanced at closing by the lender) $285,000 = 95% financing $7,837.50 = High ratio mortgage insurance (required for < 20% down) $292,837.50 = Total mortgage amount $1,578.72 per month at 4.24% (for 3-year fixed with a 25-year amortization)
Similar to the 5% cash back this is probably more than you are paying in rent but at the end of only 3 years you will have built up $28,342.54 in equity plus paid off the $7,837 in high ratio mortgage insurance for an equivalent of $36,179. These mortgage products are definitely not for everyone, but if you don’t have enough saved and can afford the payments, it may be a great solution for you. With all the mortgage rule tightening, we can assume this product will not be available in the future. These mortgage products are also available for secondary homes. A secondary home is one where the owner or the owner’s relative plans to occupy the property on a rent-free basis at some time during the year. For example, a person who lives in Langley could buy a condo in Yaletown if they had a son or daughter who is going to live in it. If this article interests you or you would like to discuss your mortgage feel free to contact me directly. Lee O’Callaghan
Mortgage Consultant
604 723 6520 lee@leeocallaghan.com The Mortgage Group 1057 Seymour Street, Vancouver B.C. V6B 3M3 office 604 688 6315 | fax 604 629 6674
*Interest rates subject to change *On approved credit
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