Monthly Archives: April 2011

Maddox PRICING & Floor Plans | Downtown Vancouver Presale Condo

Maddox is a new 32 story residential presale condo tower with 212 units located at Howe and Drake in Downtown Vancouver, British Columbia, Canada. This location was formerly the site of a Travelodge Motel.

The Developer of Maddox Vancouver

Cressey is the developer and they have a great reputation having built condo towers such as the Donovan at 1055 Richards Street and the Elan at 1255 Seymour Street.

How much will Presale Condos be at Maddox in Downtown Vancouver?  Continue Reading…

2011 Mortgage Rule Changes | Real Estate in Vancouver 3 of 3 Home Equity Lines of Credit HELOCS

From April 18, 2011 The Government of Canada Will No Longer Guarantee Home Equity Lines of Credit (HELOC)

In January 2011, Canada’s Department of Finance announced a series of changes to mortgage and property financing rules. These new mortgage rule changes are intended to cool Canada’s real estate market and slow Canadians per capita debt growth in the short term and support the long term stability of the Canadian property market.

Jessi Johnson a Mortgage Broker in Vancouver was kind enough to come and explain the changes.

In part 1 of 3 we talked about how the Department of Finance rule changes are shortening the amortization for high ratio mortgages. In part 2 of 3, we discussed how under the new mortgage rules it will only be possible to pull out 80%  loan to value when refinancing a property in Canada from March 18, 2011.

Today we are talking how the Government of Canada will no longer insure or guarantee Home Equity Lines of Credit offered by Canadian Banks and lending institutions from April 18, 2011.

What is a Home Equity Line of Credit?  Continue Reading…

Norma Reid of CTV BC Interviews Me on Rising Rates & Vancouver Real Estate

CTV Interview with Norma Reid on Vancouver Real Estate and Rising Interest Rates.

Sorry no embedded video with this one. I had the absolute pleasure of being interviewed by Norma Reid of CTV Vancouver on the impact rising interest rates on Vancouver Real Estate. Here is a link to the CTV Video Site with the interview.

We shot this segment at my listing at 1908-1082 Seymour. There is link video of the suite on the listing page.

I’d love to hear your thoughts!

March 2011 Real Estate Board of Greater Vancouver Statistics Package

March 2011 Real Estate Board of Greater Vancouver Statistics Package Courtesy of Mike Stewart Realtor

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties in Greater Vancouver reached 4,080 in March 2011. This represents a 31

.7 per cent increase compared to the 3,097 sales recorded in February 2011, an increase of 30.1 per cent compared to the 3,137 sales in March 2010 and an 80.1 per cent increase from the 2,265 home sales in March 2009. The all-time sales record for March occurred in 2004 when 4,371 transactions were recorded.  Continue Reading…