We just completed another transaction at # 202 9329 UNIVERSITY CR

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Harmony by Polygon! Balance of 2-5-10 warranty. Stainless steel appliances, gas stove, "bamboo" laminate flooring in kitchen & entrance, cozy gas fireplace, interior well maintained, 9' ceilings, secured underground parking. This is student living at its best walk to SFU Campus. SFU residents qualify for many extra benefits including reduced transit costs, for library, theatre & SFU fitness facilities. Perfect for a family with on site Elementary School, child care, IGA & retail opening soon. E. Located in the heart of SFU atop Burnaby Mountain surrounded by green belt as your backyard with many trails! Yet so close to shopping, dining, entertainment. & major routes.

This apartment is an excellent investment opportunity with no rental restrictions. Two rooms rented at market rates will more than pay for the mortgage at current market rates.

Are you looking for such a deal as well? Call us and let’s work together to find you your new home.

“What is a Contingency Reserve Fund (CRF) and why could there be a loan outstanding to the Contingency Reserve Fund (CRF)

QUESTION OF THE DAY~ is where we answer a question that was emailed to us or asked by one of our clients. A question, we feel more people might have, and therefore the answer should be shared. If you do have a question you would like answered, please email us your question to info@rightpricedrealty.com

Contingency reserve fund means a fund for common expenses that usually occur less often than once a year or that do not usually occur in a strata corporation. The Contingency Reserve is an amount of money set aside by law to equal not less than 5% of the annual budget.

On occasion, the Strata complex may encounter an extra-ordinary expense that has not been foreseen, and therefore not included in the annual budget. In these instances, the funds can be raised by a Special Resolution being passed at an Extra-Ordinary Meeting, or if time permits, at the AGM. It's important to note that funds raised by these levies are due and payable by the owner on the day they are passed.

On occasion when a special levy is assessed, each owner has an upcoming bill for their portion that is due as soon as the special assessment is approved. As an owner you are then required to pay your portion based on the schedule that the strata approve. Some owners are late on their payments and some owners do not pay until they are chased by collections. The challenge this provides, is that the work required to complete the special levy needs to be paid now; as such, a loan will be taken from the contingency reserve fund to pay the contractors while they chase down the owners who still owe money. Until all the owners have paid their special levy, there will be an outstanding loan due to the CRF fund.

We just completed another transaction at 1146 HARWOOD ST, Vancouver BC

We just completed another transaction at 1146 HARWOOD ST, Vancouver BC

http://www.rightpricedrealty.com/Properties.php/Details/4/#viewdetail

Nearly 600sqft of usable space, in a great West-End location. A great find is this one bedroom with partial ocean views, ceramic tiles, designer windows, baron paint with crown moldings and mirrors throughout.

This is a first-time buyers dream or an investor’s great find with no rental restrictions. Your low monthly fees include: Caretaker, Gardening, Garbage Pickup, Heat, Hot Water, Management, and Recreation Facility. Recent upgrades to the strata complex include: New: parking membrane, landscaping & lobby! Parking stalls can be rented.

Are you looking for such a deal as well? Call us and let's work together to find you your new home.

We just completed another transaction at 13277 108TH AV, North Surrey, BC,

We just completed another transaction at 13277 108TH AV, North Surrey, BC,

This is a great one-bedroom with nearly 600 square feet of ideal usable space. This is a nearly-new building, in an ideal location. All together this makes for a perfect starter home or investment property. This apartment unit is fully furnished with all the amenities you would expect in a very modern setting. As you enter, you walk through the open, modern kitchen, to the living room, and then enter a separate bedroom with walk-through closets into a master bath. This is a great functional and modern apartment.

Are you looking for such a deal as well? Call us and let's work together to find you your new home.

“Why are there so many multi-bids situations and properties being sold over asking price?”

“Why are there so many multi-bids situations and properties being sold over asking price?”

QUESTION OF THE DAY~ is where we answer a question that was emailed to us or asked by one of our clients. A question, we feel more people might have, and therefore the answer should be shared. If you do have a question you would like answered, please email us your question to seminar@rightpricedrealty.com

ANSWER: Yes, there are certainly many situations where a property is sold far above the price it is listed at. There are several reasons this may happen:
More than likely, the property was purposely listed at a significant lower price than the seller & REALTOR are expecting to sell or willing to accept. The reason this is done is simple marketing… many people have a very clearly defined budget that they are searching within to find their home. They are either only looking at properties listed up to a certain point and some who are working with buying REALTORS will have automated search engines sending them listings within a specific price range.

Many selling REALTORS choose to price a property so that it falls within several “traditional” searches. For example, a REALTOR may list an East Vancouver home at $748,000. This listing price will draw all the potential buyers that are looking with a price range up to $750,000; as well as all the buyers who are looking to spend upwards of this. The selling REALTOR may list the property at this price even though they know the property is worth $780,000 to $810,000 and seller would not accept lower than $775,000. Studies have shown, the more potential people are involved in the bidding process; the higher the final selling price will be. As a buyer when you first hear this it may sound like false advertisement, it is perhaps a questionable marketing and advertizing tactic that REALTORS may use.

However the selling REALTOR is obligated to the seller and looking out for their best interest. As such, this unique form of marketing serves their client to the fullest. As a buyer you need a great REALTOR, a REALTOR that is looking out for your best interest, knows the market prices and activity. As such, your buyers REALTOR is then able to show you comparables before you write an offer or get emotionally attached to a listing. A great buyers REALTOR will be able to explain to you what the targeted property is worth and what it will sell for, they can also advice you on ways that you can make you offer more attractive.

Source: This is an opinion of Right Priced Realty (Roland)

My NEW Social Media Goals

Recently a client of mine and also good friend, asked me why I use all the social marketing tools such as facebook, twitter, blogs, etc. My quick response was that it allows me to convey information, information that I feel is valuable to the masses in a friendly fashion. From here anyone can choose to follow my advice and use my knowledge/experience if they choose to.

My friend proceeds to say that is the very reason people choose me as their REALTOR; for my knowledge, expertise, drive, and honesty. My friend then asked me why I keep re-posting other people’s articles and information without adding my value to it. This made me think, after reading through a number of my previous posts I realized this was true. I had just been re-posting other-people’s information that I felt was of value.

When I looked around at other people social media, I found the same results. Most people are using social media as a method of re-posting information they had no input into or analysis of. Information that really offers no new content or opinion, and the reader may as well go back to the original source. Why should a reader follow a blog from someone specific if no new value is added?

Now that I am aware of this, my new social media methods have a goal. My goals going forward are to compose my opinion and post my articles to people who choose to follow me. However, the big difference is taking ownership of what I post as my own written words, thoughts and opinions that offer more value to the reader than the reader just going to the original source. I will then back-up my social media materials with links to other articles and research that supports my opinions. In this way and only this way do I think that my social media is really offering anything unique and of value to those who follow it. Cheers… Roland