Royalty Living Magazine // Issue 10

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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$3,250,000

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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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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!

- 09 -

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

- 10 -

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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$1,380,000

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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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