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2038 Stephens | Character Home | Basement Suite | Kitsilano | Vancouver West
This property SOLD on May 13th, 2013 for $1,578,000. Contact Mike for all the details: 604-763-3136. The classic Kits character home has a full width front porch and a second flr covered bal... View Listing Details
103-33 North Templeton | MASSIVE Patio! | East Hastings Real Estate | Vancouver East Condo
SNEAK PEAK on: Friday, May 17th from 5:30-6:00PM. Open House on Saturday, May 18th & Sunday, May 19th from 2:00-4:00PM. ALL OTHER SHOWINGS RESTRICTED to Tuesday, May 21st &... View Listing Details
309-27 Alexander | The Alexis | Heritage Loft Apartment | Gastown | Downtown Vancouver
Open House on Saturday and Sunday, May 18th & 19th from 2:30-4:30PM. Call Mike to confirm an Open House or to schedule a private showing: 604-763-3136. Welcome Home to 18' ceil... View Listing Details
414-1040 Pacific Street | Chelsea Terrace | West End Condo
Open House on Sunday, May 19th from 4:00-6:00PM. Call Mike to confirm an Open House or to schedule an appointment for a private showing. PRICE DROP! Welcome home to this immaculate suite at the solid Chelsea ... View Listing Details
202-3089 Oak Street | The Oaks | Fairview | Vancouver West
This Property SOLD on May 3, 2013 for $450K. Call Mike for more details: 604-763-3136. Enjoy a HUGE 520sf North facing patio at the Oaks in Fairview. This bright, private and quiet suite DOES NOT face Oak Str... View Listing Details
401-1238 Homer Street | Grafton | Yaletown Condo | Downtown Vancouver
Open House on Sunday, May 19th from 12NOON-2:00PM. Call Mike at 604-763-3136 to confirm an Open House or to schedule and appointment for a private showing. Reduced to Sell! Welcome to the Grafton,... View Listing Details
1909-5288 Melbourne Street | Collingwood | Vancouver Condo
Call Mike to Confirm an Open House or to Schedule an Appointment for a Private Showing. Price Reduced! Welcome home to expansive and unobstructed views of the North Shore Mountains at Emerald Park Place Sub-... View Listing Details
404-3161 West 4th Avenue | BRIDGEWATER | Kitsilano
Open House on Saturday, May 18th from 2:00-4:00PM. Call Mike (604)763-3136 to confirm an Open House or to schedule an appointment to view privately. New Price! Welcome home to 10’ ceilings and a bright southern exposure and 2 parking stalls at the Bridge... View Listing Details
112-3770 Manor Street | Cascade West | Burnaby North
This Property SOLD on May 3rd, 2013 for $315K. For all the details, call Mike at 604-763-3136. Welcome home to a gorgeous bright and quiet corner suite with a very large patio opening onto a large secluded garden area at Cascade West in... View Listing Details
- 1033 Marinaside Crescent Condo
- 1067 Marinaside Crescent Condo
- 1082 Seymour Street Condo
- 1372 Seymour Street: The Mark
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- 1040 Pacific Street Condo
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Monthly Archives: June 2012
July 2012 Canadian Mortgage Rules! 25 Year Amortizations for Insured Mortgages Only & CMHC Insurance for Homes over a Million Gone!
New Canadian Mortgage Rules Come Into Effect July 9 2012
This move continues the theme of the 2011 mortgage rule changes were the Federal Government does a focused cooling of the housing market without resorting to raising interest rates which would have a negative impact on the overall economy.
What are the Changes in Canada’s Mortgage Rules?
The four major changes effective July 9, 2012 are as follows: Continue reading
Financial Leverage and Presale Condos in Vancouver
I LOVE Questions and Comments on my blog posts and appreciate them HUGELY!!
We recently had a great question (Thanks Again Florin!) in the comments section of Episode 2 of How to Buy a Presale Condo where we discussed the advantages of pre-construction condos for Owner/Occupiers.
This question was SOOOO GOOD, I decided to bring in a mortgage broker, Chad Watts and shoot an entire video on this topic!
I asked my mortgage specialist about point 3 “Financial Leverage.” The one where you mentioned “buyer who previously was a high ratio borrower to become a low ratio borrower” if the property value goes up. She told me that this in not the case anymore. The bank will only base the financing on the purchase price of the home. Is this correct and if so is this true to all banks?
The mortgage specialist Florin spoke to is right.
There are rules restricting lenders from giving a mortgage on the actual market value of a presale condo if it has gone up in value from when it was purchased pre-construction to when it completes.
BUT, this does not mean the buyer of a presale condo in Vancouver cannot leverage the increase in value of the property between the time of purchase and the completion date.
Can a Presale Bought High Ratio be Completed on Low Ratio? Yes, in a Roundabout Way!
This only works when the presale Continue reading
Bayswater is a new presale condo in Vancouver with a collection of 31 boutique suites in a low-rise (four storey), white brick building at Bayswater Street and West Broadway in the thriving Kitsilano neighbourhood. Look for a mix of 1, 2, and 3-bedroom floorplans to choose from, all at the original site of the Mark James clothing boutique.
This new development along the rapidly expanding Broadway corridor will combine luxury living with the unmatched convenience this area of Vancouver offers – all at price points you might not expect.
Bayswater – Your chance to live in Kits
The Bayswater development will be situated at the intersection of Bayswater and West Broadway (2468 Bayswater to be exact). All that means is fantastic restaurants, shopping, services and more are literally just out your door.
The 99 B-Line stops close by, too, making UBC and downtown easy to access. And with Translink’s long-term plan including rapid transit along this corridor, the future looks bright for anyone who gets in on this presale condo now.
Pricing for Suites at this Kitsilano Condo Development
Spring activity remains balanced in the Greater Vancouver housing market
The number of properties listed for sale continued to increase in the Greater Vancouver housing market in May. The number of sales decreased year over year, but remained relatively constant compared to recent months.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,853 on the Multiple Listing Service® (MLS®) in May 2012. This represents a 15.5 per cent decline compared to the 3,377 sales recorded in May 2011.
May sales were the lowest total for the month in the region since 2001 and 21.1 per cent below the 10-year May sales average of 3,617. However, sales have been Continue reading