Monthly Archives: March 2013

What is CMHC Mortgage Insurance? Jonathan Fung Mortgage Specialist Explains!

CMHC Mortgage Insurance Explained by Jonathan Fung Vancity Mortgage Specialist!

What is CMHC Mortgage Insurance?

To answer this question, I recently met with Jonathan Fung, a mortgage specialist with Vancity who was kind enough to discuss CMHC mortgage insurance with us.

What is CMHC Mortgage Insurance?

CMHC stands for Canada Mortgage and Housing Corporation, which is a Crown Corporation owned by the Federal Government. One of CMHC’s core functions via its Mortgage Insurance is to assist illegible buyers purchase a home in Canada with less than a 20% down payment.

Lenders and Financial Institutions view property purchases with less than a 20% down payment as higher risk of default (ie Borrowers not paying their mortgage). Without CMHC mortgage insurance, lenders typically will not lend to borrowers with less than a 20% down payment.

CMHC insurance is available and required anytime a purchaser wants to buy home in Canada with between a 5% and 20% down payment. CMHC Mortgage Insurance does not insure property purchaser, but rather the financial institution where the purchaser is borrowing the money. CMHC Mortgage Insurance insure the lender so that if the borrower doesn’t pay their mortgage, the lender gets their money back.

Whats the Catch with CMHC Mortgage Insurance?  Continue Reading…

The Views in Coal Harbour Presale Condo by the Janda Group

The Views in Coal Harbour Presale Condo Mike Stewart from Mike Stewart 604-763-3136 on Vimeo.

The Views in Coal Harbour, A New Vancouver Presale Condo

the-views-coal-harbour-water-mountains

At a Glance

• 15 storeys
• 27 luxury units – CUSTOMIZABLE!
• Mix of condominium & townhomes
• Project spearheaded by Janda Group
• Sizes range from 817-3281 sq ft
• Development features 3 spectacular penthouses

The Views in Coal Harbour is unique in that it is one of the last opportunities to buy new properties in the neighbourhood.

The unique nature of this luxury presale condo is also seen in the fact the suites are fully customizable to a Buyers tastes

Be A Presale Condo VIP!

Find Out About New Presales & Get Access to VIP Openings & Special Promotions!

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The Views – The newest addition to the spectacular Coal Harbour area of Downtown Vancouver, and possible one of the last.

The Coal Harbour area is Downtown Vancouver’s most prestigious neighbourhoods. Skirting the shore of Burrard Inlet, with Stanley Park to the west and the shops, restaurants and conveniences of the downtown core to the east.

It’s home to some of the swankiest condos in the entire country, with spectacular views of the North Shore Mountains and beyond. But with so few spots remaining to build on, the Views represents one of the last chances to buy or invest in this area.


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Presale Pricing for Suites at this New Presale Vancouver Condo Development

Residences starting at $819,000
Estates starting at $1,920,000
Penthouses starting at $2,138,000

Call 604-763-3136 for more details!

Floor Plans at The Views

The floor plans at The Views are divided into three categories  Continue Reading…

February 2013 Statistics Real Estate Board of Greater Vancouver

February 2013 REBGV Stats Mike Stewart by

Home sales continue at below average pace

Home sale activity has trended below historical averages for a full year in the Greater Vancouver housing market.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 1,797 on the Multiple Listing Service® (MLS®) in February 2013. This represents a 29.4 per cent decrease compared to the 2,545 sales recorded in February 2012, and a 33 per cent increase compared to the 1,351 sales in January 2012.

Last month’s sales were the second lowest February total in the region since 2001 and 30.9 per cent  Continue Reading…