I just donated to my friend John to support him in his fundraising efforts for the BC Cancer Foundation.
Have you?
Saturday, June 30, 2012
Monday, June 25, 2012
Pre Listing Inspection... What is that?
What is a Pre listing inspection?
A Pre-listing home inspection is performed before the property is listed on the market. There are numerous advantages to all parties involved.
Advantages to the seller:
• The seller can schedule the inspection at their convenience.
• It may alert the seller of any possible issues that they not be aware of.
• The seller can assist the inspector during the inspection, (ie if any furniture has to be moved). This tends to allow the inspector to fully inspect any areas of possible concern providing greater disclosure.
• The report can help the seller realistically price the home if issues exist.
• The report can help the seller substantiate a higher asking price if there are no issues or they been corrected.
• A Pre-Listing inspection reveals concerns ahead of time which:
1:May make the home show better.
2:Gives the seller time to repair defects or obtain competitive quotes for repairs.
3:Allows the seller to attach repair estimates or the paid invoices to the inspection report.
4:Can remove over inflated buyer procured estimates from the negotiation.
5:Can reduce 11th hour negotiations.
6:The report may alert the seller of any immediate safety issues found, before agents and visitors tour the property
7: The report provides a third-party, unbiased opinion to offer potential buyers.
8: A Pre-Listing Inspection is the ultimate disclosure on the behalf of the seller.This can be used as an effective marketing tool.
9: A Pre-Listing Inspection provides full disclosure protection from potential legal claims.
10: By using Auscan Home Inspections the report can be uploaded to the realtors web site so potential buyers can view the report ahead of time .
Consider a Pre listing Inspection at your next property sale.
Darryl Bailey RHI
AusCan Home Inspections.
www.auscanhomeinspections.com a member of the Better Business Bureau.
Wednesday, June 20, 2012
Canadians are comfortable with their mortgage and are accelerating mortgage repayment efforts
The Canadian Association of Accredited Mortgage Professionals (CAAMP) releases annual spring survey report on residential mortgage market
TORONTO, May 30, 2012 /CNW/ - Housing markets are stable and healthy in most of Canada; Canadian homeowners are comfortable with their current mortgage, focusing on reducing their mortgage faster by making lump sum payments, reducing amortization periods and refinancing with lower interest rates, according to CAAMP's most recent survey report, Confidence in the Canadian Mortgage Market.
Highlights
- Mortgage borrowers are making significant efforts to accelerate repayment, such as voluntarily increasing their regular payments (23 per cent) and making lump sum payments (19 per cent), with some borrowers (10 per cent) doing both
- Approximately 50 per cent of borrowers pay $100 per month (or more) above their required payments
- Recent buyers indicate that their expected amortization period will be about 20 per cent shorter than their contracted length
- 74 per cent of borrowers who renewed in the last year saw their new interest rate decrease. On average, the interest rate was reduced by one-half percentage point
- Mortgage brokers account for 26 per cent of all mortgages. For borrowers who took out a new mortgage in 2011, 31 per cent obtained it from a mortgage broker
- 83 per cent of Canadians have at least 25 per cent equity in their home
"Despite daily warnings in the media about mortgage indebtedness - or maybe because of them - Canadians are making responsible decisions about their mortgages and they're exhibiting confidence in their own situations," said Jim Murphy, AMP, President and CEO of CAAMP. "We should feel encouraged by this behaviour - it means Canadians are well positioned to weather a potential rise in interest rates."
The report, entitled Confidence in the Canadian Mortgage Market, is a semi-annual review of the Canadian mortgage market authored by CAAMP Chief Economist Will Dunning. The report is based on information gathered by Maritz Research Canada in a survey of 2,000 Canadian consumers in April and May 2012.
Lump sum payments, lower amortizations, lower rates
Canadians are taking prudent steps to manage their mortgage debt levels, making lump sum payments, paying off their mortgages early and securing lower interest rates.
For mortgages on homes purchased between 2008 and the present with extended amortization periods, the average expected amortization period of 22.8 years is considerably shorter than the original contracted periods of 31.9 years, 30 per cent of the original contracted period.
Mortgage holders, particularly those who purchased homes recently, are making considerable efforts to accelerate repayment of their mortgage. The survey found that 23 per cent of mortgage holders have increased their monthly payments during the past year. In addition, 19 per cent have made lump sum contributions to their mortgage in the past year, and 10 per cent have done both.
For those who voluntarily increased their regular payments, the average amount of increase was $400-$450 per month. There are approximately 5.85 million mortgage holders in Canada and roughly 1.35 million voluntarily increased their payments, resulting in a combined amount of about $7 billion per year. Lump sum payments averaged $12,500, and with about 1.1 million people making these payments, this produces a combined repayment estimated at $13.75 billion.
Among borrowers who renewed a mortgage in 2011, almost 75 per cent saw a reduction in their interest rate. And even though some borrowers didn't experience a rate decrease in 2011, Canadians are only facing an average rate of 3.88 per cent (for fixed-rate mortgages), well below the average posted rates of 5.37 per cent over a five year term.
Level of debt concern
CAAMP asked Canadians how concerned they are with the level of Canadian indebtedness as a whole, and the overall level of debt they hold personally. Perhaps unsurprisingly, after being repeatedly told that level of indebtedness in Canada is high, they indicated a high level of concern. On a 10-point scale (10 being very concerned), they indicated an average of 7.3 regarding Canadian indebtedness as a whole.
However, when asked about their own level of indebtedness, they were considerably less concerned. 25 per cent indicated only 1 or 2 out of 10, with an average rating of 5.2 out of 10. Canadians, it seems, are much more concerned with other people's debt levels than with their own.
For a full copy of CAAMP's spring survey report, visit www.caamp.org.
Monday, June 18, 2012
Another recent sale
I recently sold this Condo at 504 1438 7TH Ave W, Vancouver West, British Columbia Fairview VW.
Wonderful spacious one bedroom + attached den suite with refreshing mountain and city views. Centrally located, close to restaurants, shops, Granville Island market and public transit, it is an ideal city pad for professional couple or retirees. Good sized kitchen & foyer, lots of closets space. Generous sized living room can accommodate your house-size furniture.
Friday, June 15, 2012
FACT: Did you know that.....
FACT: Did you know that.....In Canada, the most common mortgage is the five-year fixed-rate closed mortgage.
Historically in the U.S., the most common mortgage has been the 30-year fixed-rate open mortgage.
Wednesday, June 13, 2012
Another recent transaction of a Condo at 701 1177 HORNBY Street, Vancouver West, British Columbia Downtown VW.
Spacious London Place! This 1 bed + den apartment features 628 sq ft with an open plan kitchen and high ceilings. Located in the heart of downtown, close to shopping, restaurants, the sea wall and English Bay. London Place features a roof top deck with hot tub & gym, sauna, party room and bike storage. Includes parking & 2 storage lockers. Pets & rentals allowed w/restrictions. A beautiful place to call home!
Tuesday, June 12, 2012
Did you know: FACT:
Did you know: FACT: 83% of Canadian Mortgage holders have more than 25% equity in their homes.
Monday, June 11, 2012
Do you know of any single ladies looking to buy a home?
Do you know of any single ladies looking to buy their first home in Greater Vancouver?
I was recently approached with an opportunity for a TV show that is shooting a few episodes in Vancouver, where they feature single woman buying their first home.
Do you know of anyone that fits this criteria, they would be working with me and might be featured on this TV show?
Of course I am also looking for referrals of single guys, couples, etc... just not for the tv show, haha
Thank you,
Roland Kym
2011 Medallion Club Member ~ Re/max Executive Club & 100% Club Member
Remax Select Properties
Cell : 604 970-0393
Office: 604-737-8865
Fax : 604-737-8512
Wednesday, June 6, 2012
Clients are demanding innovation and unique marketing
Clients are demanding innovation and unique marketing.........work with me and have you own custom sign made that will showcase your listing to everyone who is walking by.... I do everything that has always worked in selling real estate in the GVRD and to that we add more.. much more.. call us and find out
Thank you,
Roland Kym
2011 Medallion Club Member ~ Re/max Executive Club & 100% Club Member
Remax Select Properties
Cell : 604 970-0393
Plumbing made easy:
Now that Spring is in full swing the tendency to do repairs around the home is increasing.
One of the repairs may be fixing that leak in the plumbing water supply line or simply wanting to add additional water lines to a fixture.
Now the need to call on that plumber is drastically reduced with the invention of new plumbing connection system. Simply known as “Shark Bite” fittings.
The SharkBite® Connection System makes any plumbing project fast and easy. Whether you need to repair a broken pipe or plumb a whole house, SharkBite is the push-fit solution for leak-free results. The system includes hundreds of products – dozens of fittings, a wide range of push-fit valves, Tested, proven, certified – SharkBite is your connection for plumbing project success
Features and Benefits:
- Instant Push fit connection for increased ease-of-use.
- No Soldering, clamps, unions or glue required.
- Fittings are rated to 200 PSI and 200 degree (93 c).
- Fits Copper, CPVC and Pex piping and connects all three in any combination.
- Tube liner installed for Pex installations, which ensures secure connections.
- Compact and robust brass body.
- Designed and certified with use with potable (drinking water) and hydronic heating (hot water heating systems).
- Ideal for tight spaces or limited access areas.
- Fittings are reusable and can be removed once installed with a removal tool
Most hardware stores carry a range of these fittings.
Remember it is always recommended to install braded hoses
on water supply lines to washing machines and faucets.
For any Plumbing questions please contact
Darryl Bailey RHI,
AusCan Home Inspections
auscanhomeinspections@gmail.com
Ph: 604-671-5528
Tuesday, June 5, 2012
The overnight Benchmark Interest Rate Remains Steady at 1%, likely to continue well into next year on world marco factors.
Canada's central bank it keeping its benchmark interest rate steady at one per cent — the same level since September 2010.
The Bank of Canada said Tuesday it would hold its target for the overnight rate steady in its latest policy decision.
The bank has decided not to raise or lower the rate on which other banks base many of their interest rates for 14 consecutive six-week policy meetings, dating back to fall 2010. That's the longest that Canada's central bank has stayed on the sidelines since the 1950s.
"Underlying economic momentum appears largely consistent with expectations," the bank said in its statement accompanying the decision.
"To the extent that the economic expansion continues and the current excess supply in the economy is gradually absorbed, some modest withdrawal of the present considerable monetary policy stimulus may become appropriate," the bank said.
That was a slightly more hawkish tone that the previous statement, suggesting if and when the bank makes a move, it's more likely to be a hike to curb lending, not a cut to stimulate the economy.
"The message is that the bank, unlike the market, still expects the next move to be a hike, but it is acknowledging that there is less certainty about the economy being strong enough to warrant that move," CIBC economist Avery Shenfeld said in a note following the bank's rate announcement.
Modest growth
Canada's central bank says the U.S. economy has continued to expand at a modest pace, but activity in emerging markets has slowed a bit faster than expected, and Europe remains a major concern.
In Canada, the first-quarter growth rate was disappointing at 1.9 per cent, but the economy is holding up overall because of a strong housing sector, positive business, and consumer confidence and low interest rates.
The bank also said inflation remains in control and not a worry at this time. The bank has its next scheduled decision on rates on July 17.
Monday, June 4, 2012
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 constant throughout the spring months, with 2,874 sales in March and 2,799 sales in April.
“Home sellers have outpaced buyers in recent months, however, there continues to be an overall balance between supply and demand in our marketplace,” Eugen Klein, REBGV president said.
New listings for detached, attached and apartment properties in Greater Vancouver totalled 6,927 in May 2012. This represents a 16.8 per cent increase compared to May 2011 when 5,931 homes were listed for sale and a 14.4 per cent increase compared to April 2012 when 6,056 homes were listed for sale on the region’s MLS®.
Last month’s new listing total was 15.3 per cent above the 10-year average for listings in Greater Vancouver for May.
At 17,835, the total number of homes listed for sale on the region’s MLS® increased 7.9 per cent in May compared to last month and increased 21 per cent from this time last year.
“Our sales-to-active-listing ratio sits at 16 per cent, which is indicative of balanced market conditions,” Klein said. “As a result of this stability, home prices at the regional level have seen little fluctuation over the last six month.”
The MLS® HPI benchmark price* for all residential properties in Greater Vancouver currently sits at $625,100, up 3.3 per cent compared to May 2011 and up 2.4 per cent over the last three months. The benchmark price for all residential properties in the Lower Mainland** is $558,300, which is a 3 per cent increase compared to May 2011 and a 2.3 per cent increase compared to three months ago.
Sales of detached properties on the MLS® in May 2012 reached 1,180, a decline of 24.8 per cent from the 1,570 detached sales recorded in May 2011, and a 6.1 per cent decrease from the 1,256 units sold in May 2010. The benchmark price for detached properties increased 5.1 per cent from May 2011 to $967,500.
Sales of apartment properties reached 1,156 in May 2012, a decline of 5.9 per cent compared to the 1,228 sales in May 2011, and a decrease of 14.6 per cent compared to the 1,354 sales in May 2010.The benchmark price of an apartment property increased 1.7 per cent from May 2011 to $379,700.
Townhome property sales in May 2012 totalled 517, a decline of 10.7 per cent compared to the 579 sales in May 2011, and a 5.3 per cent decrease from the 546 townhome properties sold in May 2010. The benchmark price of a townhome unit increased 0.9 per cent between May 2011 and 2012 to $470,000.
*Editor’s Note: Benchmark prices underwent a re-calculation this month in order to more accurately reflect trends measured by the MLS® Home Price Index. There were no changes to the calculation of index values.
This re-calculation involved aggregating benchmark prices using the sales weighted approach for the reference period (i.e. January 2005) and thereafter linking movements in aggregate benchmark prices to their corresponding MLS® HPI.
The methodology, available at www.homepriceindex.ca, will be updated later this week.
**Lower Mainland: Includes areas covered by the Real Estate Board of Greater Vancouver and the Fraser Valley Real Estate Board.
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