Resale Home & Condo Vancouver

Special 4 Week Issue

Metro Vancouver Edition

Dec. 07, 2012 - Jan. 04, 2013 Volume 18 Issue 25

liday o h y p p for a ha e thanks s e h s i ‘Best w nd our sincer hip and season a loyalty, friends e year” for your l throughout th anyk l i M e w n d i o a r go and Lor aipont r F y r a G

Fraipont & Manyk professional teamwork ~ professional results LifeStyles Realty Independently owned and operated

INSIDE THIS ISSUE

SHOULD WE WORRY ABOUT A MARKET CORRECTION?

604.466.2838 TIPS FOR BUYING A SECOND PROPERTY

0092614_4912

UPSCALE DESIGN $1,080,000

PRIVATE GREENBELT LOCATION $555,000

•2956 total square feet •3 bedrooms/2.5 baths •Yard access off main flr •Master Bedroom on Main •Slate accents/teak flooring •Gourmet kitchen/granite island

CALL GARY and LORRAINE 604-466-2838

• Majestic MTN Views • 10,981 sq.ft. lot • 4,136sq.ft. of LUXURY • 7 bdrms / 4.5 baths • 2 bdrm Inlaw Accom. • Nanny Quarters

CALL GARY and LORRAINE 604-466-2838

PRICE INCLUDES HST $674,900

• 8251 sq.ft. level lot • 1 bdrm legal suite • 4 bdrms/ 3 full baths • 3182 sq.ft. home • Central M.R. Location • Jent Construction

CALL GARY and LORRAINE 604-466-2838

PRECIOUS MEMORIES $529,900

• 2960 sq.ft. 3 levels • 3 bdrms / 2.5 Baths • Backing Greenbelt

• Walk Out Basement • Open Floor Plan • Next to nature

CALL GARY and LORRAINE 604-466-2838

STARTING FROM $182,900

FALCON CENTRE - THE RESIDENCES

• • • • • • • •

ONE and TWO BEDROOM SUITES Maple Ridge downtown core location Spacious, well designed floor plans High End Finishes/ cheerful fireplace Fully applianced gourmet kitchen Laundry appliances included Secure parking plus storage locker Park the car & WALK to amenities

CALL GARY and LORRAINE 604-466-2838

ATTENTION TO DETAIL $629,900

• 2 storey + w/o Bsmt • River & Mountain views • 3 bdrms/3.5 baths • Executive Living • High End Appliances • Private Location

CALL GARY and LORRAINE 604-466-2838

VALUE! VALUE! VALUE! $394,000

• 3 bdrms / 3.5 baths • Sunny South Facing • 2 storey + w/o bsmt • 2,062 sq.ft. townhouse • Show Home Condition • Close to Schools

CALL GARY and LORRAINE 604-466-2838

contents

voluME 18 issuE 25 | dEcEMBEr 7, 2012 - JaNuary 04, 2013

12

iNsidE THis issuE

advErTisEr iNdEx

06. Editor’s Note

Gary Fraipont & lorraine Manyk RE/MAX Maple Ridge...................................2

10. The Mortgage Minute What’s all the fuss about a ‘market correction’?

By Peter Kinch

Gary Fraipont & lorraine Manyk RE/MAX Maple Ridge...................................3

12. Homebuyers’ Help Quick tips for buying a second property

remax all Points Wayne and Brittney Dic .......................................................5 Gary Fraipont & lorraine Manyk RE/MAX Maple Ridge...................................7 alisa & Jorge aragon Your Mortgage Solutions Group ...................................9 les Wellman Royal LePage Coronation Park..................................................11

4 Resale home & condo Guide Dec. 07, 2012 - Jan. 04,, 2013

Wishing you and your family a safe holiday!

Wayne & Brittany Dick

Providing the Service You Deserve Since 1985

1.800.939.6838

604.512.1234

www.waynedick.com waynedick@remax.net

RE/MAX ALL POINTS 0093000 4912

GLENWOOD PORT COQUITLAM $314,900

CITADEL PORT COQUITLAM $549,900 Prime 15 unit gated complex safe & secure at “Brittany Place.” This corner end unit w/tile roof has a great view of Colony farms. Level driveway with two car garage. Over 3000 sq ft of living space with three bdrms and laundry upstairs.

Main features formal living/dining rm with spacious kitchen, family rm and eating area. Basement with large media rm & access to your backyard. Easy to show!

CAPE HORN COQUITLAM $579,900 Great family neighbourhood. Level street, just off Cape Horn & 2 blocks east of Mundy Rd. Great view of Mount Baker & the new Port Mann. This 2500 sq ft home features five bdrms with a deluxe master suite with enormous w/i closet and f/p. Updates incl: new double glazed windows, new fiberglass deck, new main roof and roof above carport. Two car carport RV parking & room for 6 vehicles on driveway. Easy to add a secondary suite!

This four year old 4176 sq ft home is located in a c-d-s on a 1/3 of an acre in the popular Anmore. Nestled up in the forest with trails and greenbelt as your backyard with mountain views at the front. Open concept main flr with high end finishings throughout. Up are three good size rms with vaulted ceilings & all with ensuites. Fully finished walk out basement. Bonus three car garage. Nothing to do but move in!

* TOP 10 IN B.C. Twelve Years

SOUTH BURNABY $549,900

Quality construction provided by Park Ridge Homes. These townhouses have private entry facing the park. South facing backyards and views for main and upper floor. Bright and spacious open plan. Kitchen w/pantry, breakfast bar on island & comes with s/s appliances including gas stove. Up are 3 good size bdrms.

Basement has separate entry to the backyard. MOVE IN TODAY!

This 833 sf 2 bdrm & den unit is located at CENTERPOINT. This unit has 11ft ceilings & panoramic south, west & northern views from Richmond to Coal Harbour.

Views from both bdrms which are on opposite sides. Great location; walk over the sky-walk to Metrotown + transit, & restaurants. Unit includes TWO parking stall + a storage locker.

Immediate possession available!

GLENWOOD PORT COQUITLAM $575,000

CHINESIDE COQUITLAM $575,000

Completely renovated house in Glenwood off Shaughnessy in Port Coquitlam. This house features double glazed windows, heated garage, newer back deck, and renovated interior. Main floor features hardwood throughout, newer kitchen w/open dining and living rm plus three bdrms and two full baths. Down has shared laundry with your potential one bdrm suite.

Nothing to do but move in!

Location! Very quiet w/lots of mature trees providing a tranquil setting. Lrg private lot w/lane access to carport and addtl parking. This home is turn key ready. These proud owners have done everything; 2 yr old roof, new vinyl windows, re-insulated, highefficiency furn, newer kitchen, painted inside & out. Ten minutes walk to major bus routes and West Coast Express and future Evergreen Skytrain.

Flexible possession possible!

BURKE MOUNTAIN $888,800 INCLD HST

SUMMIT VIEW COQUITLAM $799,900 This three level, 3920 sq ft home is in a prime c-d-s location. Full 40 ft wide deck w/ 3 sets of sliding doors to enjoy the view breathtaking views of Mtn Baker. Extra large main floor with three good size bdrms up. Down is a full walk out basement w/games rm w/fireplace, 2 bed + nanny’s suite or inlaw accom. Downstairs long term tenants would like to stay & pay $1100/ month. Move in ready!

WEST COQUITLAM $1,799,900

ANMORE $1,550,000

Spacious 814sf one bdrm plus den upper corner unit is located at the Bosa building - Legacy Towers. This unit has breathtaking North, East, South views.

Features include granite countertops, stainless steal appliances, centre island and entertaining size private patio.

Commuter’s dream; located half a block away from Holdom Skytrain station!

BURKE MOUNTAIN COQUITLAM $499,900 - $529,900 T

This corner unit, two-level townhouse is located in the popular “Southborough” complex. Edmonds Skytrain at your doorstep, close to Highgate Mall and recreation. Includes three good sized bdrms and two full bathrooms to compliment a small family. 2 secured parking stalls and storage locker. Such a well-run strata with low maintenance fees!

IT 2 S LE F

BURNABY EAST EDMONDS $445,000

CENTRAL BURNABY NORTH $389,900

Pride of ownership show in this completely renovated two level 1266sq ft townhouse at “Kimmel Court.” This property is located away from the street, in a small 16 unit problem free complex. Up are three bdrms plus a den that is currently converted into a bdrm.

Addit. feat include. Renovated kitchen, main bath, 2 year old dbl glazed wdws, new blinds & concrete fully fenced backyard.

This four year old 953 sq ft two bdrm two bath corner unit is located at the “Verde” built by Onni. This corner unit has a larger covered patio overlooking Reeve St. and Gates Park. Great location minutes away from shopping, West Coast Express, public transit, trails and Riverside Secondary. Easy to show!

UN

LI N E ST W IN G

CENTRAL PORT COQUITLAM $299,900

This brand new home in popular Burke Mountain features modern finishes throughout.

Open concept main floor has hardwood through, 12ft ceilings and tons of windows.

Great rm features floor-to-ceiling gas f/p with entertainment unit. Kitchen includes enormous centre island, high end appliances including gas stove. Up are four good bdrm and three full bath. Southern views from master & second bdrm. Basement includes games & theatre rm plus potential two bdrm suite. Move in today, price includes HST!

RANCH PARK COQUITLAM $2,250,000 INCLD HST

This 8yr old home backs onto the popular Vancouver Golf Course. Features include triple car garage, tile roof and two bdrm legal suite. Over 5200 sf of living space on three levels. Main flr includes living/dining rm plus spacious kitchen/eating area and family rm. Up are four good size bdrms. Besides the suite the basement has a games/theater plus bdrm and full bath for upstairs.

Minutes away from Lougheed Hwy, Skytrain, Mall and Hwy 1.

*OVER 32 YEARS COMBINED EXPERIENCE With over 2500 sales

This stunning air conditioned home offers exceptional quality & feats luxurious finishing’s. 8500 sf on three levels with a 15,540 sq ft lot. The four car garage is over 1200 sf. Main flr is open concept w/too many features to list. Five bdms up all with own full ensuites and w/i closets. The lower level provides a state-of-the-art theatre, games rm, gym & summer kitchen. Your fenced backyard features: outdoor pool & hot tub. Pride and ownership shown throughout. Brand new, including HST. Call for your private showing.

* TOP 1% IN CANADA Nineteen years

editor’snote

VICE-PRESIDENT, WALL2WALL MEDIA

Seek professional help

EDITOR-IN-CHIEF, NATIONAL REAL ESTATE

FOR A HAPPY EVER AFTER

Jacqueline Hill Susan Legge EDITOR

Janine Druery, Lydia McNutt (on leave) DIRECTOR OF SALES, WESTERN CANADA

Josh Heppner

CLASSIFIED ADS

Amy Gagnon 604.422.7813 CONTRIBUTING EDITORS

Wayne Karl, Elisa Krovblit, Silvana Longo, Sara Duck (on leave) PRODUCTION MANAGER

Bala Gnanapandithan

BUYING A HOME USED TO BE LIKE A FAIRY TALE – the story was easy to follow

and there was always a happy ending. Times have changed and buying a home in today’s marketplace can have many unexpected twists and turns if you’re not properly prepared with the right information and resources.

Ensure you have a lawyer and a mortgage provider in place before you go home shopping, rather than rushing out to find these important resources mid-way through the process. Consider your lawyer and lender to be your fairy godmothers. Only they can grant wishes such as a smooth closing and a great mortgage rate that will save you thousands of dollars in the long run.

Decide what the must-haves of your home are before you shop and consider your location carefully. As I mentioned, make sure your fairy godmothers are along for the ride.

Resale Home & Condo Guide covers the realities of today’s housing market. It’s a great first step in the right direction to ensure you live happily ever after.

ART DIRECTOR

Lee Cobhan

GRAPHIC DESIGNER

Mike Terentiev

Happy home hunting!

Susan Legge EDITOR-IN-CHIEF Wall2Wall Media, Susan.Legge@wall2wallmedia.com

PRODUCTION COORDINATOR

Bala Menon

Follow me on Twitter at Twitter.com/SusanLegge

NATIONAL ACCOUNT MANAGER, MEDIATIVE

Paul Slizys

Small costs can really

PRINTING

Mitchell Press

The Vancouver Resale Home & Condo Guide is published

by Wall2Wall Media located at One Innovation Place, 2700 Production Way, Suite 500, Burnaby, B.C. V5A 0C2. Resale Home & Condo Guide is distributed throughout Greater Vancouver at free pick-up locations. This magazine carefully inspects all ads for accuracy, however, the publisher and the printer shall not be responsible for any mistakes, design errors or incorrect information which is provided by the advertiser or their representative. The advertising herein, including the photographs and all artwork, is the property of Resale Home & Condo Guide and not that of the advertiser.

The advertiser has purchased the right of reproduction in Resale Home & Condo Guide only and does not have the right to reproduce the ad in whole or in part in any other place or publication without the consent of the publisher.

The entire contents of this publication are protected by copyright and are intended for the sole use of the public.

The views and data expressed by columnists do not necessarily represent those of the publication.

Published by

Wall2Wall Media is a trademark of Yellow Pages Group Co. in Canada.

The homeTRADER & Design are trademarks of Apax Partners LLP, used under license.

RESALE HOME & CONDO GUIDE

Wall2Wall Media Inc. 4180 Lougheed Highway, Suite 102 Burnaby BC V5C 6A7

ADD UP WHILE BUYING A HOME IS EXCITING, IT CAN INDUCE A BIT OF NAIL CHEWING. Much of that comes from worries about money and ending up “house poor.”

Some of the costs involved are small, and seemingly insignificant, but when added together they can really lighten your wallet. The Canada Mortgage and Housing Corp.’s website (cmhc.ca) has a long list of these expenses, but below are some of the more important ones to consider: Moving expenses: Whether you’ll be hiring a moving company or renting a truck and asking friends for help, there are likely to be moving expenses.

Renovations or repairs: Can renovations or repairs be delayed or are some necessary to do immediately?

Service connection fees: Telephone, gas, electricity, cable TV, satellite TV, Internet, and so on, may charge service connection fees. Some utilities may ask you to pay a deposit.

Appliances: Does your new home come with appliances or do you already have your own?

Gardening and/or snow-clearing equipment: Will you need to buy any of this during the first year in your new home?

Decorating materials: Do you want to re-paint or apply wallpaper? Do the floors need to be refinished or re-carpeted? Do you have all the tools you need for redecorating?

Even the best-planned budget can take a bit of a beating when moving: there seems to always be something you didn’t anticipate. So do your research – and don’t forget to leave a little wiggle room so that if the unexpected rears its ugly head, you’ll be prepared.

Janine Druery EDITOR janine.druery@wall2wallmedia.com Follow me on Twitter at Twitter.com/JanineDruery

6 Resale home & condo Guide Dec. 07, 2012 - Jan. 04,, 2013

realtorprofile

Fraipont & Manyk Professional teamwork achieves professional results for our buyers and sellers

BY JA N I N E M AC K I E

“We listen to what’s important to our clients, help them identify what they want and narrow down the search to the best properties that the MLS has to offer that match their key criteria.”

R

ealtor team Fraipont and Manyk of RE/MAX LifeStyles Realty in Maple Ridge want to make your real estate dreams come true.

Whether you’re selling or looking to purchase, the unique team model offered by Gary Fraipont and Lorraine Manyk offers a positive professional experience for each client that includes one-on-one personal service from a full-time Realtor. The support of an administrative staff working behind the scenes and proficient real estate marketing experts will give each property maximum exposure while honing in on the search for your new home that’s perfect in every way.

(Gary Fraipont)

“I love working with people and developing long term relationships with our clients who often become lifelong friends.”

(Lorraine Manyk)

DEDICATED MEMBERS OF THE MAPLE RIDGE COMMUNITY “Listening to our clients. That’s the biggest difference,” says Gary who has called Maple Ridge his home since 1955 and has been a local realtor for almost 30 years. “We don’t try to sell just what our company has on the market. We listen to what’s important to our clients, help them identify what they want, and narrow down the search to the best properties that the Multiple Listing Service has to offer that matches their key criteria.”

Gary is a member of the RE/MAX Hall of Fame and has also been the recipient of the RE/MAX Lifetime Achievement Award. A consistent member of the RE/MAX 100% and Platinum Clubs (the top one per cent of all RE/MAX sales associates), and the Vancouver Real Estate Board’s Presidents Club, (the Real Estate Board’s top one per cent), Gary has a high level of skill in the marketing of all types of residential homes and commercial-investment properties.

While negotiating a fair price and finding properties is Gary’s strength, his professional partner Lorraine, also a long-term active resident of Maple Ridge, is partial to the relational side of real estate. Lorraine is also a member of the RE/MAX 100% Club and most recently earned the RE/MAX Hall of Fame Award.

“I love working with people and developing relationships with our clients who often become lifelong friends,” says Lorraine. “We have many fi rst-time buyers as clients who recommend us to their friends and family because of our personal, professional service and throughout their lives we help them move

up and move down in the real estate market.”

Gary and Lorraine have been working together since 1996, serving the Maple Ridge, Pitt Meadows, Langley and Fraser Valley communities.

ASK US WHY IT’S A GREAT TIME TO BUY A HOME “Right now there’s lots of inventory on the market, and we feel confident we can negotiate a great buy for our clients. It’s also the perfect time to move up as the price spread is not that significant.”

Both Gary and Lorraine are proud to be among the top selling real estate agents in the area, with over 6,000 past clients. Their well-tested maxim has guided their success: Start small, think big, work hard and provide a level of service that keeps clients coming back for life!

Call Gary Fraipont and Lorraine Manyk today at 604-466-2838, or visit them personally at the RE/MAX LifeStyles Realty office at 22308 Dewdney Trunk Road in Maple Ridge.

Dec. 07, 2012 - Jan. 04,, 2013 Resale home & condo Guide 7

lower Mainland & Fraser valley WEST VANCOUVER

NORTH VANCOUVER

COQUITLAM

CO

QU

ITL

AM

PORT MOODY

VANCOUVER

PO

RT

U.E.I. BURNABY

PITTMEADOWS

MAPLERIDGE

FRASER RIVER

MISSION RICHMOND

SURGEON BANK

MISSION SURREY

H UT SO

M AR

NORTH DELTA

LANGLEY CITY

LANGLEY

ABBOTSFORD

BOUNDARY BAY

ROBERTS BANK

WHite rocK

Fraser Valley real estate sales-to-actiVe-listings ratio This indicator shows the relative balance between the demand for homes and supply of homes on the market. A high ratio denotes a market that is more in favour of sellers, creating upward pressure on prices. A low ratio reflects a market in favour of buyers, putting downward pressure on prices.

A balanced market is generally associated with a ratio between 0.15 and 0.20, where pressure on home prices is considered neutral. source: Fraser Valley real estate Board

Mission SaleS

neW liStingS

active liStingS

average Price

Oct ‘12

Oct ‘11

Oct ‘12

Oct ‘11

Oct ‘12

Oct ‘11

Oct ‘12

Detached

34

41

76

89

323

412

$381,020

$346,643

Attached

-

2

5

5

27

31

-

$197,500

Apartment

3

2

9

4

32

31

$165,666

$182,000

8 Resale home & condo Guide Dec. 07, 2012 - Jan. 04,, 2013

Oct ‘11

Refinancing to Ease Holiday Spending Woes

By Alisa & Jorge Aragon, Mortgage & Leasing Experts Planning ahead really can save you money down the road. And with the high-cost holiday gift-buying and entertaining season quickly approaching, this may be the perfect time to refinance your mortgage and free up some money instead of relying on high-interest credit cards.

You may find that taking equity out of your home will help bring joy back into your holiday season – and start the New Year off on a debt-free note, as you may also be able to use some of the equity in your home to pay off high-interest debt such as your credit card balances. This will enable you to put more money in your bank account each month.

And since interest rates continue to hover near historic lows, switching to a lower rate may save you a lot of money – possibly thousands of dollars per year.

There are penalties for paying your mortgage loan out prior to renewal, but these could be offset by the lower rates and extra money you could acquire through a refinance.

With access to more money, you’ll be better able to manage both your holiday spending and existing debt. Refinancing your mortgage and taking some existing equity out could also enable you to do many things you’ve been longing to accomplish – such as purchasing

an investment property, taking that well-deserved vacation, renovating your home or even investing in your children’s education.

Paying your mortgage down faster By refinancing, you may extend the time it will take to pay off your mortgage, but there are many ways to pay down your mortgage sooner to save you thousands of dollars in interest payments.

Most mortgage products, for instance, include prepayment privileges that enable you to pay up to 25% of the principal (the true value of your mortgage minus the interest payments) per calendar year.

This will also help reduce your amortization period (the length of your mortgage), which, in turn, saves you money.

You can also increase the frequency of your mortgage payments by opting for accelerated bi-weekly payments. Not to be confused with semi-monthly mortgage payments (24 payments per year), accelerated bi-weekly mortgage payments (26 payments per year) will not only pay your mortgage off quicker, but it’s guaranteed to save you a significant amount of money over the term of your mortgage.

By refinancing now – before the holiday season is in full swing – and planning ahead, you can put yourself and your family in a better financial position.

YOUR NEEDS ARE UNIQUE… WE HELP YOU FIND THE RIGHT MORTGAGE! www.YourMortgageSolutionsGroup.ca Alisa Aragon

Jorge Aragon

778.893.0525 604.931.9000

aaragon@dominionlending.ca jaragon@dominionlending.ca

New Mortgages • Renewals • Debt Consolidation - we will help you save money

First Time Homebuyers • New Immigrants - you can own your home a lot sooner than you think Construction & Renovation • Commercial - we have the best option for your business

Alternative & Private Lending - you have another option when traditional lending is not available Investment - build your real estate portfolio with great rates

Leasing & other non-banking solutions - conserve your cash for working capital

We make the process fast and simple, give you all the necessary information, always take a personal approach and explain in detail every step of the process.

We work for you, at your convenience, at your location… all at no cost to you!

Mortgage & Leasing Experts DLC Casa Mortgage Inc.

www.NuestraHipoteca.ca (Servicio en Español)

Dec. 07, 2012 - Jan. 04,, 2013 Resale home & condo Guide 9

themortgageminute

What’s all the fuss about a

‘MARKET CORRECTION’?

BY PETER KINCH

P

ick up any newspaper today and no one could blame you if you get a little worried about the state of the economy or the fear of a pending market correction in Canadian real estate. What if Greece defaults? What about the Fiscal Cliff in the U.S.? Are Canadians taking on too much debt? Have mortgage rules gone too far? Is there a housing bubble about to burst? What if there is a market correction?

The real question is: “Do Canadian homeowners or prospective buyers need to be concerned?” Every time there is talk about a market correction in Canadian real estate, the tone is quite negative. But let’s take a closer look at that situation: rather than argue about whether we may have a market correction, let’s analyze what it really means to Canadians if there is one.

FIRST-TIME HOMEBUYERS: If you’re a first-time homebuyer, you have likely felt the pinch of the rising cost of housing, and the new mortgage rules certainly haven’t helped. So a slight market correction would be welcome news for you; you can still get into homeownership with only five per cent down, but since your maximum amortization is now limited to only 25 years, a drop in pricing is exactly what you’ll need to be able to get into this market.

Conclusion: A market correction is a good thing for you.

CURRENT HOMEOWNER BUYING OR SELLING – MOVING UP OR DOWNSIZING: It is very rare that someone buys something without selling something first, and vice versa. If you are a homeowner and you’re looking for the right time to sell your house so you can buy another, you may be concerned that the price of your current home is dropping. But let’s take a closer

look at that: assume the value of the house you are selling drops by 10 per cent. Let’s also assume that you plan to buy another home (whether upsizing or downsizing).

The key to remember in a downturn market is that the person selling their home to you is going through the exact same thing. In other words, if the value of your home dropped 10 per cent, so too did the value of the new home you are buying. Focus on what your bottom line “net” is, rather than what you thought or had hoped to sell your home for.

Conclusion: in most cases, the net effect of a market correction is zero.

REAL ESTATE INVESTOR OR SECOND-HOME BUYER: If you are buying real estate as an investment, either for cash flow or as a second home, then this is the perfect market condition for you. When there are more sellers than buyers, you have more bargaining power. If you are able to negotiate a better deal and pay a little less for the property you are looking for, it simply makes the deal that much more affordable.

Conclusion: you should be hoping for a market correction.

CURRENT HOMEOWNER WITH NO PLANS TO SELL: The majority of Canadians fall into this category, and let’s be honest – the single biggest reason we worry about a housing correction is the fear that it will erode our home equity and net worth. Over the last decade, a significant amount of the net worth of Canadians has been tied up in their home equity, and this has provided the foundation for a lot of retirement plans – so there is obvious concern.

But should there be? Again, let’s look at the facts. For the majority of Canadians,

10 Resale home & condo Guide Dec. 07, 2012 - Jan. 04,, 2013

the plan is to stay in their current house for at least the next three to five years. So here’s a simple fact: equity is only gained or lost the day you sell. In other words, if the value of your house were to drop by 10 per cent tomorrow, you may feel anxiety over the drop in your net worth – but it would only be on paper unless you actually sold your house tomorrow. If you have no intention of selling soon and you can still afford your monthly payments, then all you need to do is sit and wait and go about your normal life until the market bounces back – which it has always done for the past 100 years.

Conclusion: a market correction may very well have zero impact on you.

In the end, the headlines will continue to talk of impending market corrections. The key for you is to decipher one of three things: 1. Is this a real concern for you?

2. Is this an opportunity? Or, 3. Am I just getting worked up about nothing?

Bottom line: a lot of people will fret about this topic over the water cooler tomorrow morning – but the majority of them really don’t need to.

Peter is an award-winning mortgage broker and best-selling author of The Canadian Real Estate Action Plan Visit peterkinch.com or contact him at peter@peterkinch.com

Expert Advice In The Mobile and Manufactured Home Market

604-581-3838

www.leswellman.com

Les Wellman

leswellman@shaw.ca • a#6 - 9965 152nd Street, Surrey, B.C.

CHEAPER THAN RENT

Did you know a mobile home can be purchased for as little as 5% Down? We have 60 MORE MOBILES . . . Including seniors parks, family parks, singles, doubles and strata pads. There may be one for you!

FAMILY PARK $26,900

FAMILY PARK $39,900

57

OWN THE LAND

14 X 70 with huge addition, 2 bedrooms, gas fireplace, all double glazed windows, torch-on roof, new hot tub,jetted tub in bathroom, near new side by side W/D Skylites New Kitchen cupboards. Large covered patio. This is a gardners delight.

COME SEE THE PRIDE OF THE OWNERS. MLS# F1223860.

FAMILY PARK $69,900

160

IT’S A BEAUTY

2 bedroom completely re-done in today’s modern color scheme. New appliances new flooring, new bathroom tub, sink and toilet. MLS# F1220467.

ADULT PARK $26,900

Double wide with 2 bedrooms and two 4-piece baths, family room, study, dinning rm and work shop 1400 sq ft. vacant move tomorrow HWT 2009,earth quake tie-downs, $20,000 spent in 2009. Small pet allowed. No HST or Transfer tax. MLS #F1226298.

AGE RESTRICTED 45 + $69,900

3 bedrooms with a newer furnace, double glazed windows, Appliances recently replaced. Huge lot with free R.V. parking and room for 4 vehicles.

MLS# F1226726.

39 Double wide on corner lot with central air, 2 bedrooms two 4 piece baths, family room 5 newer appliance newer furnace 7 yr old roof all windows double glazed small pet O.K. MLS # F1219564.

ADULT PARK $69,900

WHITE ROCK AREA

#280

2 bedroom double wide with 2 bathrooms, skylites, gas fire place 5 appliances. Large treed private lot with visitor parking close by. Huge covered patio and a wired work shop. MLS#F1219507.

52 2 Bedroom 14 x 70 1999 with an addition. Storage Shed & Garden.

Wow Hunny, you can have the Veggies in the garden. Huge yard with storage shed and Greenhouse. Free RV parking in storage on on your lot. Room for 4 vehicles. Covered Patio for BBQ’ing, F/S, W/D, D/W, Thermal Window all included. Small pet OK. MLS# F1222764

Fernridge Double wide 3 bedroom two 4-piece baths, 5 appliances, two storage sheds and two covered patio’s one one each side of home. Gas fireplace, roof has been replaced. Vacant, you can move tomorrow. Hurry cause you do not want to miss out on this beauty. MLS #F1223129.

122

PET O.K.

2 bedrooms on corner lot 5 minutes to W/R beach and U.S. Border. all appliances are 4 years old H.W.T. replace 08 There is a wired 12 X 12 work shop off of the covered patio. Pad rent $838 includes Electricity, Water, Sewer, Garbage and taxes on the land. No H.S.T. or Transfer Tax. MLS #F1226558.

FAMILY PARK $69,900

145

PET O.K.

1980 14 X 66 Moduline with $10,000 Handi-cap walk-in tub. $6,000 emergency natural gas generator which will carry the entire load of the mobile. Roof redone 2012, H.W.T 2011. Home has earth quake tie downs. New laminate flooring This is a must visit. MLS #F1219738.

258

IT’S A BEAUTY

Doublewide in Breakaway Bays in White Rock Area. New furnace New F/S, W/D, D/W and window coverings 5 min. to beach and U.S Border. NO H.S.T. or Transfer tax. MLS# F1204904

SENIORS PARK $77,777

45 PLUS PARK $39,900

WOW wait to you see this baby and the pride of the owner. Furniture could be included This is a turn key home. Just move in and it is vacant. Small pet O.K. only minutes to Sky Train. MLS# F1120911.

Wow 4 bedrooms or 3 and and a den with two bathrooms which includes stand up shower and soaker tub. F/S, W/D, D/W and two A/C units.

Larger dogs allowed but no vicious breeds. Fenced facing south back yard. MLS# F1217299.

236

NO PETS

16

COMPLETELY RE-DONE

102

4 BEDROOMS

FAMILY PARK $26,900

FAMILY PARK $43,000

ADULT PARK 25 + $59,900

VACANT

Wow 3 bedroom and two 4-piece bathroom 12 Sq. Ft for $38,000. # large bedrooms. F/S, W/D, A/C and freezer all included. 5 min to White Rock Beach and U.S. Border. MLS# F1217247.

68

PET O.K.

FAMILY PARK $39,900

GATED COMMUNITY

39

ELECTRICITY INCLUDED

SENIORS PARK $88,000

296

WHITE ROCK AREA

ADULT PARK $88,000

10

43

VACANT

3 bedroom 2 bathroom located in corner lot in a gated community. small pet o.k. move tomorrow.

MLS #F1117815.

VACANT

1995 14 X 70 2 bedroom mobile in Greentree Estates pad fees only $445.00 per month which includes water, sewer, taxes on the land and garbage. door to door mail delivery.

Vaulted ceiling W/D, D/W, S/F and thermo double glazed windows all included. MLS #F1216330.

0088104_4912

SENIOR PARK 55+ $249,900

Dec. 07, 2012 - Jan. 04,, 2013 Resale home & condo Guide 11

homebuyers’ help

Quick tips for buying a second property

Are you dreAming of spending summers At

a lakefront cottage? or maybe you’ve always wanted to own a condo as an investment? Whatever your reason for wanting to purchase a second property, knowing your financing options before you buy is crucial to avoid surprises down the road. “financing the purchase of a second property can be complicated at first glance,” says farhaneh Haque, regional sales manager, mobile mortgage specialists, td Canada trust. “A team of experts such as your mortgage lender, real estate agent or builder and insurer can take you through the process and help you decide what you can afford.”

Three things to consider: 1. you may be able to use the equity in your home as a down payment for your second property. using this equity you’ve built up is one way to contribute to the minimum 25-per-cent down payment required for investment and cottage properties.

2. if you need financing, set up a new mortgage for your second property. Also, you must have sufficient income to carry all debts, including your primary residence. for most investment and vacation properties, financing can be provided using a standard mortgage. All of the different options and terms available when financing your primary residence are also available on your second property.

3. most insurance policies for vacation homes are “named perils” versus “comprehensive” policies. named perils means you have protection for specific risks named in the policy such as fire or smoke damage. other risks like water damage or vandalism can be more difficult or expensive to obtain coverage for because there isn’t someone living there year round, which increases the security risk. insurers such as td insurance will work with you to determine what the best policy is for you and explain what each term means.

more information is available online at tdcanadatrust.com. nC 12 Resale home & condo Guide Dec. 07, 2012 - Jan. 04,, 2013