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 Federal Finance Minister Jim Flaherty recently announced major changes to Canada mortgage lending rules. 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: 1) 25 Year Amortizations Only for Insured Mortgages - CMHC will no longer insure mortgages with an amortization longer… Find out more

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

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… Find out more

Bayswater Vancouver Presale Condo with Floor Plans and Pricing!

Bayswater by Mosaic, a new presale condo development in Vancouver’s Kitsilano Neighbourhood 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… Find out more

May 2012 REBGV Statistics Package

REBGV Stats Package May 2012 Mike Stewart Realtor 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… Find out more

Granville at 70th Vancouver Presale Condo Pricing and Floor Plans!

Granville at 70th, a new Vancouver Presale Condo Developmen offering West Side Living in South Vancouver Granville at 70th is an ambitious residential and commercial development that will breathe new life into the Marpole area of South Vancouver. The Granville at 70th development will be split into the West Tower, South Tower, and the Cornish Estates (townhomes), all surrounded by lush gardens, new parks, convenient shopping and some seriously cool amenities (unless you don’t think putting greens and steam rooms are cool). Granville at 70th – Location, location, location The aptly named Granville at 70th condo development will be situated… Find out more