Tag Archives: Presale Condos Vancouver

An Answer to Florin’s Question: Can a Presale Bought High Ratio be Completed on Low Ratio?

Posted on June 13, 2012 by mike

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!

Florins Question:

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 →

Posted in: For Buyers, How To Buy a Pre Sale Condo in Vancouver, Vancouver Real Estate and Mortgage Financing
Tags: Are Presale Condos a Good Option in BC, Chad Watts Mortgage Broker, Completing on a Presale Condo, Financial Leverage and Presale Condos in Vancouver, High Ratio Presales, How Muhc are Presale Condos Worth, Low Ratio Presales, Market Analysis on Presale Condos, Presale Condo Advice, Presale Condos and Mortgages, Presale Condos in Vancouver, Presale Condos Vancouver, Presale Realtor, Should I Get a Realtor for Presale, Vancouver BC Presale Condo, Vancouver Condo Presale, Vancouver Condo Presales, Vancouver Investment Properties, Vancouver Presale Condos, Vancouver Presale Condos for Investors, Vancouver Presales
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Marine Gateway Vancouver Presale Pricing!

Posted on May 1, 2012 by mike

Marine Gateway, a New Presale Condo on Vancouver’s Canada Line at the end of Cambie in Marpole

Marine Gateway is a major, new condominium development in the rapidly gentrifying Marpole area of South Vancouver. Located on the southeast corner of Cambie St. and SE Marine Drive, this mixed-use development will have residential, retail and office space. It will be connected directly to downtown Vancouver, the airport and Richmond via the rapid transit Canada Line.

Marine Gateway will feature two towers. The North Tower, topping out at 38 stories, will house 234 suites. Tentative completion is set for November 30, 2014. The South Tower will feature 29 levels with 180 suites planned for completion January 31, 2015.

Marine Gateway’s Ultra-Convenient Location

Marine Gateway is directly on the Canada Line, meaning your less than 20 minutes from the downtown core and five minutes from YVR and the multicultural dining of Richmond. But with a T&T grocery store, coffee shops, banks and an 11-screen movie theatre right on-site, you don’t really need to go anywhere.
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Pricing for Marine Gateway Presale Condos
One-bedroom apartments at Marine Gateway will start at Continue reading →

Posted in: For Buyers, Vancouver Condo Pre-Sales
Tags: Cambie Apartment Presales, Marine Gateway, Marine Gateway Condos, Marine Gateway Presales, Mike Stewart Realtor, New Build Condos Vancouver, New Cambie Condos, New Vancouver Condo Projects, Pre-Construction Condos Vancouver, Pre-Sale Development in Vancouver, Presale Condo Specialist, Presale Condos Vancouver, Presale Condos Vancouver Westside BC, Presale Vancouver, Presale Vancouver Apartments, Presales in Vancouver, Upcoming Condos Vancouver, Vancouver Coming Up Condo, Vancouver Presale Condos, Vancouver Presales
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999 Seymour Downtown Vancouver Presale Condo PRICING & Floor Plans!

Posted on February 22, 2012 by mike

999 Seymour in a New Condo Presale in Downtown Vancouver

999 Seymour Street is a new Vancouver Condo Presale. This 134 suite, 22 level concrete condo building will be located at the corner of Seymour and Nelson Street in Downtown Vancouver, British Columbia, Canada. There will be residential suites from the 5th floor and above with retail on main and offices to the 5th floor. There is a separate elevator for commercial and office spaces and the residential sections of the building will have a dedicated elevator.

Central Downtown Vancouver Location at Seymour and Nelson

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The central Downtown Vancouver location means everything and anything great in the area is walking distance. Groceries are across the street at Nesters Market, Yaletown is a block away and the Granville entertainment district is also a block away. The Orpheum and Vogues Theatres great venues for live entertainment are less than two block away.

Presale Condo Price List for 999 Seymour Street in Downtown Vancouver Continue reading →

Posted in: Downtown Vancouver Pre Sales, For Buyers, Vancouver Condo Pre-Sales
Tags: 999 Seymour, 999 Seymour Downtown, 999 Seymour Floor Plan, 999 Seymour Presale Condo, 999 Seymour Price List, 999 Seymour Pricing, 999 Seymour Street, 999 Seymour Vancouver, Downtown Pre-Construction Condos, Downtown Presale Condo Vancouver, Downtown Presales, downtown vancouver condos, Downtown Vancouver Pre-Construction Condos, Downtown Vancouver Presales, New Condos in Downtown Vancouver, Off Plan Real Estate Vancouver, Presale Condo, Presale Condos Vancouver, Townline Homes, Vancouver Pre Completion, Vancouver Presale Condominiums, Vancouver Presales
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The Flats at 219 East Georgia a New Presale Condo with PRICING and Floor Plans

Posted on February 13, 2012 by mike

A New Presale Condo in Chinatown! The Flats at 219 East Georgia Street.

The Flats at 219 East Georgia Street is a new presale condo in Vancouver’s Historic Chinatown located between Gore Avenue and Main Street, facing East Georgia bordered to the West by the Alley that runs between Gore and Main. The Flats at 219 East Georgia is a flagship building for Panther Construction as its their first residential building and they are working to impress.

This is a 9 story concrete condo with 28 homes, 26 of which will be one bedrooms. The junior one bedrooms are not open plan and do have bedrooms and are in the low 500sf range. Full sized one bedrooms are over 600sf. The remaining units will be 2 levels reverse plan penthouses around 1400sf with direct access to their own rooftop decks with gas for BBQ’s above a public rooftop in the middle with private penthouse rooftop decks a level above in an H configuration. The commercial spaces on the ground level may be for sale, but this was not confirmed at the time of writing.