Royal LePage City Centre Michael Wilcox Personal Real Estate Corporation | Kate MacPhail Personal Real Estate Corporation

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A New Twist On A Xmas Classic: Let It Snow!

 

Oh the weather outside is frightful!
But Mortgage Rates still so delightful
You think theres no place to go

 

Tony M is the broker to know.

Oh it doesn't show signs of leaking
So we called The Mike&Will Team for completing
The strata fees are kind of low
But be prepared for a levy down the road

When you finally sign the forms
You'll be happy with what you've saved
And with Tony watching your back now 
The future will be great, will be great, will be great! ;-)

 

 

Happy Holidays Everyone!

 

Cheers,
Tony

 

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These Everyday Home Items Can Double As Christmas Decor

 

When in search of DIY Christmas decor, we always seem to find ourselves just a little bit short on time. With the holidays close by and budgets that keep getting tighter, it's time to make stellar decorations out of what's already in our homes.

 

It's true -- every Christmas decoration you need is already. in. your. house. Rejoice!

 

We've compiled a Pinterest board of our favorite DIY decoration projects, which use around-the-house standbys from cake stands to serving trays to even your own front door.

 

With a sprinkle of holiday magic, the items you already have can easily double as the only decorations you'll ever need.

THE CHANDELIER: Hang mismatched ornaments from your chandelier with both wide and skinny ribbons to achieve a look that's whimsically festive. Or wrap the chandelier with leafy garlands... or do both!THE CHANDELIER: Hang mismatched ornaments from your chandelier with both wide and skinny ribbons to achieve a look that's whimsically festive. Or wrap the chandelier with leafy garlands... or do both!

 

TALL JARS & VASES: Martha Stewart's signature holiday project involves dusting tall, glass apothecary jars with a layer of salt or faux snow, then arranging ornaments or tiny figurines inside. It's a design-your-own, grown-up snow globe, if you will.TALL JARS & VASES: Martha Stewart's signature holiday project involves dusting tall, glass apothecary jars with a layer of salt or faux snow, then arranging ornaments or tiny figurines inside. It's a design-your-own, grown-up snow globe, if you will.


SERVING TRAYS: Spruce up your appetizer platter (literally) with festive-looking ferns, glowing candles, branches or glittery accents. The more trinkets, the merrier!SERVING TRAYS: Spruce up your appetizer platter (literally) with festive-looking ferns, glowing candles, branches or glittery accents. The more trinkets, the merrier!


YOUR FRONT DOOR: Turn your regular entryway into one big gift. Wrap it with an oversized bow to welcome guests, or do the same with a living room door to make the Christmas morning reveal more special than ever.YOUR FRONT DOOR: Turn your regular entryway into one big gift. Wrap it with an oversized bow to welcome guests, or do the same with a living room door to make the Christmas morning reveal more special than ever.


YOUR MANTLE: Chunky statement candles, a DIY wreath, an evergreen garland or a string of pennant letters will turn your regular fireplace into the centerpiece that Christmas-ifies an entire room. Just add stockings!YOUR MANTLE: Chunky statement candles, a DIY wreath, an evergreen garland or a string of pennant letters will turn your regular fireplace into the centerpiece that Christmas-ifies an entire room. Just add stockings!


RECYCLED WINE BOTTLES: Empty your recycling bin, and add a pretty coat of paint to empty wine bottles to make a set of brand-new vases. Draw letters to spread messages of holiday cheer, and arrange twigs or holly inside.RECYCLED WINE BOTTLES: Empty your recycling bin, and add a pretty coat of paint to empty wine bottles to make a set of brand-new vases. Draw letters to spread messages of holiday cheer, and arrange twigs or holly inside.

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Vote and You Could Win!  
 

We have been fortunate enough over the last 4 years to be voted Best in the City and we owe it all to you!


Please vote for The Mike and Will Team in the 2015 Best in the City Contest. After you vote post on any one of our Personal Facebook pages or The Mike and Will Team Facebook page that you voted with the link to the contest and we put your name in for a draw to win a $100 My Treat Visa.
 
It only takes 30 seconds to vote, as you only have to vote in the categories you want! .
 
Here's how to vote:
 
1) GO TO: http://www.westender.com/contests
2) CLICK ON "2015 Best of the City Reader's Choice"
3) Scroll down and on the left hand side menu under "Categories" CLICK ON "Services"
4) CLICK ON " Best Realtor" at the top and TYPE the Mike and Will Team
5) If you have the time please vote for our wonderful office, Royal LePage City Centre and Tony Marchigiano for best Mortgage Broker!
6) POST ON OUR ANY OF OUR FACEBOOK PAGES  THE LINK TO THE CONTEST AND SAY " I VOTED FOR YOU!". AND YOU WILL BE ENTERED TO WIN!
 
Thanks for your vote and may the odds be ever in our favour.

 

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Should You Stay With Your Current Lender/Bank?
 
It may feel like a comfortable thing to do when renegotiating your mortgage but is it the most beneficial, financially speaking, when looking at renegotiating your mortgage?
 
An article in the Globe & Mail yesterday discusses this topic in great detail. The author notes some very important things to look out for when renegotiating your mortgage.  Reasons to renegotiate would be to lower your interest rate, refinancing your home/mortgage to pull equity out to buy another home, to pay off higher interest debts or when your mortgage term has expired.
 
See the full article below for some great tips and, as always, if you have any question or want to discuss your mortgage or a new mortgage please feel free to give me a call.
 
Sincerely,
 
Tony
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South Coast Homes $600,000 Less Than In Metro Vancouver


The average house price in Sechelt on the Sunshine Coast or Nanaimo on Vancouver Island is now about $600,000 less than in Metro Vancouver and $50,000 less than the Canadian average of $416,000.


It appears that buyers, mostly retired persons or those seeking a more laid-back environment, are getting wise to what Sechelt realtor John Thompson calls “a crazy reality.”

 

Thompson ticks off the “screaming deals” that he said dominate the 90 Sunshine Coast properties he has listed for sale.  These include three-bedroom newly renovated house just steps from the ocean at Roberts Creek for less than $400,000; and waterfront cottages from $499,000, “offers considered”.

 

In West Vancouver, nine kilometers away by ferry, the average detached house price in November was $1.9 million, according to the Real Estate Board of Greater Vancouver.

 

When a waterfront house near Pender Harbour, once valued at $1.4 million, went to foreclosure this summer, Thompson bought it himself. “At $736,000 I couldn’t resist,” said the veteran realtor with Re/Max Oceanview Realty.

 

According to Canada Mortgage and Housing Corporation regional analyst Carol Frketichthe spiraling prices seen in Metro Vancouver have not been matched in smaller coastal markets, and she suggested more Lower Mainland residents may decide to cash out and move to lower-cost areas.

This year, the average price of a detached house sold through the MLS of the Real Estate Board of Greater Vancouver increased 8% from a year earlier, to $997,800, while prices increased around 4% in the rest of the province. In the past five years, a typical house owner on Vancouver’s West Side has seen prices rise 48.3%, to $2.3 million; while they fell 5.3 % lower on the Sunshine Coast to $353,700.

The same price gap is seen on Vancouver Island, confirms Steve Pakozdy with Royal LePage Nanaimo.

Pakozdy, who, like Thompson, said sales have been picking in the second half of this year, is seeing more retiree-aged buyers moving over from the Lower Mainland.

 

In one recent scenario, two friends are selling an older house – “bulldozer bait” – in Richmond for $788,000 and a $2 million “teardown” on Vancouver’s West Side and retiring together in Nanaimo. Pakozdy said the pair has apparently settled on a brand new three-bedroom, two-level detached house in a south Nanaimo subdivision. “Prices are from $309,000 to $319,000,” he said.

 

But Pakozdy said he doesn’t see any signs of a sudden, sharp increase in sales or prices, particularly in recreational property on the Gulf Islands off Nanaimo’s coast.

 

“Island properties are still selling at firesale prices,” he said. He points to a 2,500-square-foot house on half-an-acre of waterfront on Mudge Island, off the Nanaimo shoreline, that was listed last year at $499,000. It sold in September for $289,000.

 

Bigger investors are taking note of Sunshine Coast potential. This year buyers from mainland China bought the Sechelt Golf and Country Club, where a new hotel is planned, and a 43-acre island off of Pender Harbour. Vancouver developer Onni has built a new waterfront development of townhomes in Porpoise Bay, called Edgewater. Pacific Spirit Properties has built the 104-unit oceanfront Watermark condo development in downtown Sechelt.

 

In Nanaimo, where a China-based travel firm plans a $50 million luxury hotel, promoters have raised $15 million and purchased two fast passenger ferries, which they plan on running between Nanaimo and downtown Vancouver by next summer.

 

BIV full article here >


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Metro Vancouver Home Sales Remain Strong

 

Home buyers in Metro Vancouver remained active in November, a month that is traditionally a quieter time of year for real estate.

 

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached 2,516 on the Multiple Listing Service® (MLS®) in November 2014. This represents an 8.4 per cent increase compared to the 2,321 sales in November 2013, and a 17.7 per cent decline compared to the 3,057 sales in October 2014.

 

Last month’s sales were 6.9 per cent above the 10-year sales average for November.

 

 “It’s been a more active fall than we typically see in the Metro Vancouver housing market,” Ray Harris, REBGV president said. “Home prices across the region have experienced steady gains in 2014 of between three and seven per cent depending on property type.”

 

New listings for detached, attached and apartment properties in Metro Vancouver* totalled 3,016 in November.

This represents a 7.1 per cent decrease compared to the 3,245 new listings in November 2013 and a 32.8 per cent decline from the 4,487 new listings in October.

 

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 12,553, a 10.2 per cent decline compared to November 2013 and a 9.4 per cent decrease compared to October 2014.

 

“This is traditionally a low inventory time of year, so it’s a good time to list your home for sale if you want to face less competition in the marketplace,” Harris said. 


The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $637,300. This represents a 5.7 cent increase compared to November 2013.

 

Sales of detached properties in November 2014 reached 1,012, an increase of 9.3 per cent from the 926 detached sales recorded in November 2013, and a 60.9 per cent increase from the 629 units sold in November 2012. The benchmark price for detached properties increased 7.9 per cent from November 2013 to $997,800.

 

Sales of apartment properties reached 1,052 in November 2014, an increase of 8.6 per cent compared to the 969 sales in November 2013, and a 40.3 per cent increase compared to the 750 sales in November 2012. The benchmark price of an apartment property increased 3.2 per cent from November 2013 to $379,500.

 

Attached property sales in November 2014 totalled 452, a 6.1 per cent increase compared to the 426 sales in November 2013, and a 47.2 per cent increase over the 307 attached properties sold in November 2012. The benchmark price of an attached unit increased 4.8 per cent between November 2013 and 2014 to $480,200.

 

- See more at: http://www.rebgv.org/monthly-reports?month=November&year=2014#sthash.YWHqYDVV.dpuf

Home buyers in Metro Vancouver remained active in November, a month that is traditionally a quieter time of year for real estate.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached 2,516 on the Multiple Listing Service® (MLS®) in November 2014. This represents an 8.4 per cent increase compared to the 2,321 sales in November 2013, and a 17.7 per cent decline compared to the 3,057 sales in October 2014.

Last month’s sales were 6.9 per cent above the 10-year sales average for November.

 “It’s been a more active fall than we typically see in the Metro Vancouver housing market,” Ray Harris, REBGV president said. “Home prices across the region have experienced steady gains in 2014 of between three and seven per cent depending on property type.”

New listings for detached, attached and apartment properties in Metro Vancouver* totalled 3,016 in November. This represents a 7.1 per cent decrease compared to the 3,245 new listings in November 2013 and a 32.8 per cent decline from the 4,487 new listings in October.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 12,553, a 10.2 per cent decline compared to November 2013 and a 9.4 per cent decrease compared to October 2014.

“This is traditionally a low inventory time of year, so it’s a good time to list your home for sale if you want to face less competition in the marketplace,” Harris said. 
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $637,300. This represents a 5.7 cent increase compared to November 2013.

Sales of detached properties in November 2014 reached 1,012, an increase of 9.3 per cent from the 926 detached sales recorded in November 2013, and a 60.9 per cent increase from the 629 units sold in November 2012. The benchmark price for detached properties increased 7.9 per cent from November 2013 to $997,800.

Sales of apartment properties reached 1,052 in November 2014, an increase of 8.6 per cent compared to the 969 sales in November 2013, and a 40.3 per cent increase compared to the 750 sales in November 2012. The benchmark price of an apartment property increased 3.2 per cent from November 2013 to $379,500.

Attached property sales in November 2014 totalled 452, a 6.1 per cent increase compared to the 426 sales in November 2013, and a 47.2 per cent increase over the 307 attached properties sold in November 2012. The benchmark price of an attached unit increased 4.8 per cent between November 2013 and 2014 to $480,200.

- See more at: http://www.rebgv.org/monthly-reports?month=November&year=2014#sthash.YWHqYDVV.dpuf

Home buyers in Metro Vancouver remained active in November, a month that is traditionally a quieter time of year for real estate.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached 2,516 on the Multiple Listing Service® (MLS®) in November 2014. This represents an 8.4 per cent increase compared to the 2,321 sales in November 2013, and a 17.7 per cent decline compared to the 3,057 sales in October 2014.

Last month’s sales were 6.9 per cent above the 10-year sales average for November.

 “It’s been a more active fall than we typically see in the Metro Vancouver housing market,” Ray Harris, REBGV president said. “Home prices across the region have experienced steady gains in 2014 of between three and seven per cent depending on property type.”

New listings for detached, attached and apartment properties in Metro Vancouver* totalled 3,016 in November. This represents a 7.1 per cent decrease compared to the 3,245 new listings in November 2013 and a 32.8 per cent decline from the 4,487 new listings in October.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 12,553, a 10.2 per cent decline compared to November 2013 and a 9.4 per cent decrease compared to October 2014.

“This is traditionally a low inventory time of year, so it’s a good time to list your home for sale if you want to face less competition in the marketplace,” Harris said. 
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $637,300. This represents a 5.7 cent increase compared to November 2013.

Sales of detached properties in November 2014 reached 1,012, an increase of 9.3 per cent from the 926 detached sales recorded in November 2013, and a 60.9 per cent increase from the 629 units sold in November 2012. The benchmark price for detached properties increased 7.9 per cent from November 2013 to $997,800.

Sales of apartment properties reached 1,052 in November 2014, an increase of 8.6 per cent compared to the 969 sales in November 2013, and a 40.3 per cent increase compared to the 750 sales in November 2012. The benchmark price of an apartment property increased 3.2 per cent from November 2013 to $379,500.

Attached property sales in November 2014 totalled 452, a 6.1 per cent increase compared to the 426 sales in November 2013, and a 47.2 per cent increase over the 307 attached properties sold in November 2012. The benchmark price of an attached unit increased 4.8 per cent between November 2013 and 2014 to $480,200.

- See more at: http://www.rebgv.org/monthly-reports?month=November&year=2014#sthash.YWHqYDVV.dpuf
Metro Vancouver home sales remain strong

Metro Vancouver home sales remain strong

Home buyers in Metro Vancouver remained active in November, a month that is traditionally a quieter time of year for real estate.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached 2,516 on the Multiple Listing Service® (MLS®) in November 2014. This represents an 8.4 per cent increase compared to the 2,321 sales in November 2013, and a 17.7 per cent decline compared to the 3,057 sales in October 2014.

Last month’s sales were 6.9 per cent above the 10-year sales average for November.

 “It’s been a more active fall than we typically see in the Metro Vancouver housing market,” Ray Harris, REBGV president said. “Home prices across the region have experienced steady gains in 2014 of between three and seven per cent depending on property type.”

New listings for detached, attached and apartment properties in Metro Vancouver* totalled 3,016 in November. This represents a 7.1 per cent decrease compared to the 3,245 new listings in November 2013 and a 32.8 per cent decline from the 4,487 new listings in October.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 12,553, a 10.2 per cent decline compared to November 2013 and a 9.4 per cent decrease compared to October 2014.

“This is traditionally a low inventory time of year, so it’s a good time to list your home for sale if you want to face less competition in the marketplace,” Harris said. 
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $637,300. This represents a 5.7 cent increase compared to November 2013.

Sales of detached properties in November 2014 reached 1,012, an increase of 9.3 per cent from the 926 detached sales recorded in November 2013, and a 60.9 per cent increase from the 629 units sold in November 2012. The benchmark price for detached properties increased 7.9 per cent from November 2013 to $997,800.

Sales of apartment properties reached 1,052 in November 2014, an increase of 8.6 per cent compared to the 969 sales in November 2013, and a 40.3 per cent increase compared to the 750 sales in November 2012. The benchmark price of an apartment property increased 3.2 per cent from November 2013 to $379,500.

Attached property sales in November 2014 totalled 452, a 6.1 per cent increase compared to the 426 sales in November 2013, and a 47.2 per cent increase over the 307 attached properties sold in November 2012. The benchmark price of an attached unit increased 4.8 per cent between November 2013 and 2014 to $480,200.

- See more at: http://www.rebgv.org/monthly-reports?month=November&year=2014#sthash.YWHqYDVV.dpuf

Metro Vancouver home sales remain strong

Home buyers in Metro Vancouver remained active in November, a month that is traditionally a quieter time of year for real estate.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached 2,516 on the Multiple Listing Service® (MLS®) in November 2014. This represents an 8.4 per cent increase compared to the 2,321 sales in November 2013, and a 17.7 per cent decline compared to the 3,057 sales in October 2014.

Last month’s sales were 6.9 per cent above the 10-year sales average for November.

 “It’s been a more active fall than we typically see in the Metro Vancouver housing market,” Ray Harris, REBGV president said. “Home prices across the region have experienced steady gains in 2014 of between three and seven per cent depending on property type.”

New listings for detached, attached and apartment properties in Metro Vancouver* totalled 3,016 in November. This represents a 7.1 per cent decrease compared to the 3,245 new listings in November 2013 and a 32.8 per cent decline from the 4,487 new listings in October.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 12,553, a 10.2 per cent decline compared to November 2013 and a 9.4 per cent decrease compared to October 2014.

“This is traditionally a low inventory time of year, so it’s a good time to list your home for sale if you want to face less competition in the marketplace,” Harris said. 
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $637,300. This represents a 5.7 cent increase compared to November 2013.

Sales of detached properties in November 2014 reached 1,012, an increase of 9.3 per cent from the 926 detached sales recorded in November 2013, and a 60.9 per cent increase from the 629 units sold in November 2012. The benchmark price for detached properties increased 7.9 per cent from November 2013 to $997,800.

Sales of apartment properties reached 1,052 in November 2014, an increase of 8.6 per cent compared to the 969 sales in November 2013, and a 40.3 per cent increase compared to the 750 sales in November 2012. The benchmark price of an apartment property increased 3.2 per cent from November 2013 to $379,500.

Attached property sales in November 2014 totalled 452, a 6.1 per cent increase compared to the 426 sales in November 2013, and a 47.2 per cent increase over the 307 attached properties sold in November 2012. The benchmark price of an attached unit increased 4.8 per cent between November 2013 and 2014 to $480,200.

- See more at: http://www.rebgv.org/monthly-reports?month=November&year=2014#sthash.YWHqYDVV.dpuf

Metro Vancouver home sales remain strong

Home buyers in Metro Vancouver remained active in November, a month that is traditionally a quieter time of year for real estate.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached 2,516 on the Multiple Listing Service® (MLS®) in November 2014. This represents an 8.4 per cent increase compared to the 2,321 sales in November 2013, and a 17.7 per cent decline compared to the 3,057 sales in October 2014.

Last month’s sales were 6.9 per cent above the 10-year sales average for November.

 “It’s been a more active fall than we typically see in the Metro Vancouver housing market,” Ray Harris, REBGV president said. “Home prices across the region have experienced steady gains in 2014 of between three and seven per cent depending on property type.”

New listings for detached, attached and apartment properties in Metro Vancouver* totalled 3,016 in November. This represents a 7.1 per cent decrease compared to the 3,245 new listings in November 2013 and a 32.8 per cent decline from the 4,487 new listings in October.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 12,553, a 10.2 per cent decline compared to November 2013 and a 9.4 per cent decrease compared to October 2014.

“This is traditionally a low inventory time of year, so it’s a good time to list your home for sale if you want to face less competition in the marketplace,” Harris said. 
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $637,300. This represents a 5.7 cent increase compared to November 2013.

Sales of detached properties in November 2014 reached 1,012, an increase of 9.3 per cent from the 926 detached sales recorded in November 2013, and a 60.9 per cent increase from the 629 units sold in November 2012. The benchmark price for detached properties increased 7.9 per cent from November 2013 to $997,800.

Sales of apartment properties reached 1,052 in November 2014, an increase of 8.6 per cent compared to the 969 sales in November 2013, and a 40.3 per cent increase compared to the 750 sales in November 2012. The benchmark price of an apartment property increased 3.2 per cent from November 2013 to $379,500.

Attached property sales in November 2014 totalled 452, a 6.1 per cent increase compared to the 426 sales in November 2013, and a 47.2 per cent increase over the 307 attached properties sold in November 2012. The benchmark price of an attached unit increased 4.8 per cent between November 2013 and 2014 to $480,200.

- See more at: http://www.rebgv.org/monthly-reports?month=November&year=2014#sthash.I3Zwjkfk.dpuf

Metro Vancouver home sales remain strong

Home buyers in Metro Vancouver remained active in November, a month that is traditionally a quieter time of year for real estate.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached 2,516 on the Multiple Listing Service® (MLS®) in November 2014. This represents an 8.4 per cent increase compared to the 2,321 sales in November 2013, and a 17.7 per cent decline compared to the 3,057 sales in October 2014.

Last month’s sales were 6.9 per cent above the 10-year sales average for November.

 “It’s been a more active fall than we typically see in the Metro Vancouver housing market,” Ray Harris, REBGV president said. “Home prices across the region have experienced steady gains in 2014 of between three and seven per cent depending on property type.”

New listings for detached, attached and apartment properties in Metro Vancouver* totalled 3,016 in November. This represents a 7.1 per cent decrease compared to the 3,245 new listings in November 2013 and a 32.8 per cent decline from the 4,487 new listings in October.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 12,553, a 10.2 per cent decline compared to November 2013 and a 9.4 per cent decrease compared to October 2014.

“This is traditionally a low inventory time of year, so it’s a good time to list your home for sale if you want to face less competition in the marketplace,” Harris said. 
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $637,300. This represents a 5.7 cent increase compared to November 2013.

Sales of detached properties in November 2014 reached 1,012, an increase of 9.3 per cent from the 926 detached sales recorded in November 2013, and a 60.9 per cent increase from the 629 units sold in November 2012. The benchmark price for detached properties increased 7.9 per cent from November 2013 to $997,800.

Sales of apartment properties reached 1,052 in November 2014, an increase of 8.6 per cent compared to the 969 sales in November 2013, and a 40.3 per cent increase compared to the 750 sales in November 2012. The benchmark price of an apartment property increased 3.2 per cent from November 2013 to $379,500.

Attached property sales in November 2014 totalled 452, a 6.1 per cent increase compared to the 426 sales in November 2013, and a 47.2 per cent increase over the 307 attached properties sold in November 2012. The benchmark price of an attached unit increased 4.8 per cent between November 2013 and 2014 to $480,200.

- See more at: http://www.rebgv.org/monthly-reports?month=November&year=2014#sthash.I3Zwjkfk.dpuf

Metro Vancouver home sales remain strong

Home buyers in Metro Vancouver remained active in November, a month that is traditionally a quieter time of year for real estate.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached 2,516 on the Multiple Listing Service® (MLS®) in November 2014. This represents an 8.4 per cent increase compared to the 2,321 sales in November 2013, and a 17.7 per cent decline compared to the 3,057 sales in October 2014.

Last month’s sales were 6.9 per cent above the 10-year sales average for November.

 “It’s been a more active fall than we typically see in the Metro Vancouver housing market,” Ray Harris, REBGV president said. “Home prices across the region have experienced steady gains in 2014 of between three and seven per cent depending on property type.”

New listings for detached, attached and apartment properties in Metro Vancouver* totalled 3,016 in November. This represents a 7.1 per cent decrease compared to the 3,245 new listings in November 2013 and a 32.8 per cent decline from the 4,487 new listings in October.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 12,553, a 10.2 per cent decline compared to November 2013 and a 9.4 per cent decrease compared to October 2014.

“This is traditionally a low inventory time of year, so it’s a good time to list your home for sale if you want to face less competition in the marketplace,” Harris said. 
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $637,300. This represents a 5.7 cent increase compared to November 2013.

Sales of detached properties in November 2014 reached 1,012, an increase of 9.3 per cent from the 926 detached sales recorded in November 2013, and a 60.9 per cent increase from the 629 units sold in November 2012. The benchmark price for detached properties increased 7.9 per cent from November 2013 to $997,800.

Sales of apartment properties reached 1,052 in November 2014, an increase of 8.6 per cent compared to the 969 sales in November 2013, and a 40.3 per cent increase compared to the 750 sales in November 2012. The benchmark price of an apartment property increased 3.2 per cent from November 2013 to $379,500.

Attached property sales in November 2014 totalled 452, a 6.1 per cent increase compared to the 426 sales in November 2013, and a 47.2 per cent increase over the 307 attached properties sold in November 2012. The benchmark price of an attached unit increased 4.8 per cent between November 2013 and 2014 to $480,200.

- See more at: http://www.rebgv.org/monthly-reports?month=November&year=2014#sthash.I3Zwjkfk.dpuf

Metro Vancouver home sales remain strong

Home buyers in Metro Vancouver remained active in November, a month that is traditionally a quieter time of year for real estate.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached 2,516 on the Multiple Listing Service® (MLS®) in November 2014. This represents an 8.4 per cent increase compared to the 2,321 sales in November 2013, and a 17.7 per cent decline compared to the 3,057 sales in October 2014.

Last month’s sales were 6.9 per cent above the 10-year sales average for November.

 “It’s been a more active fall than we typically see in the Metro Vancouver housing market,” Ray Harris, REBGV president said. “Home prices across the region have experienced steady gains in 2014 of between three and seven per cent depending on property type.”

New listings for detached, attached and apartment properties in Metro Vancouver* totalled 3,016 in November. This represents a 7.1 per cent decrease compared to the 3,245 new listings in November 2013 and a 32.8 per cent decline from the 4,487 new listings in October.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 12,553, a 10.2 per cent decline compared to November 2013 and a 9.4 per cent decrease compared to October 2014.

“This is traditionally a low inventory time of year, so it’s a good time to list your home for sale if you want to face less competition in the marketplace,” Harris said. 
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $637,300. This represents a 5.7 cent increase compared to November 2013.

Sales of detached properties in November 2014 reached 1,012, an increase of 9.3 per cent from the 926 detached sales recorded in November 2013, and a 60.9 per cent increase from the 629 units sold in November 2012. The benchmark price for detached properties increased 7.9 per cent from November 2013 to $997,800.

Sales of apartment properties reached 1,052 in November 2014, an increase of 8.6 per cent compared to the 969 sales in November 2013, and a 40.3 per cent increase compared to the 750 sales in November 2012. The benchmark price of an apartment property increased 3.2 per cent from November 2013 to $379,500.

Attached property sales in November 2014 totalled 452, a 6.1 per cent increase compared to the 426 sales in November 2013, and a 47.2 per cent increase over the 307 attached properties sold in November 2012. The benchmark price of an attached unit increased 4.8 per cent between November 2013 and 2014 to $480,200.

- See more at: http://www.rebgv.org/monthly-reports?month=November&year=2014#sthash.I3Zwjkfk.dpuf

Metro Vancouver home sales remain strong

Home buyers in Metro Vancouver remained active in November, a month that is traditionally a quieter time of year for real estate.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached 2,516 on the Multiple Listing Service® (MLS®) in November 2014. This represents an 8.4 per cent increase compared to the 2,321 sales in November 2013, and a 17.7 per cent decline compared to the 3,057 sales in October 2014.

Last month’s sales were 6.9 per cent above the 10-year sales average for November.

 “It’s been a more active fall than we typically see in the Metro Vancouver housing market,” Ray Harris, REBGV president said. “Home prices across the region have experienced steady gains in 2014 of between three and seven per cent depending on property type.”

New listings for detached, attached and apartment properties in Metro Vancouver* totalled 3,016 in November. This represents a 7.1 per cent decrease compared to the 3,245 new listings in November 2013 and a 32.8 per cent decline from the 4,487 new listings in October.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 12,553, a 10.2 per cent decline compared to November 2013 and a 9.4 per cent decrease compared to October 2014.

“This is traditionally a low inventory time of year, so it’s a good time to list your home for sale if you want to face less competition in the marketplace,” Harris said. 
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $637,300. This represents a 5.7 cent increase compared to November 2013.

Sales of detached properties in November 2014 reached 1,012, an increase of 9.3 per cent from the 926 detached sales recorded in November 2013, and a 60.9 per cent increase from the 629 units sold in November 2012. The benchmark price for detached properties increased 7.9 per cent from November 2013 to $997,800.

Sales of apartment properties reached 1,052 in November 2014, an increase of 8.6 per cent compared to the 969 sales in November 2013, and a 40.3 per cent increase compared to the 750 sales in November 2012. The benchmark price of an apartment property increased 3.2 per cent from November 2013 to $379,500.

Attached property sales in November 2014 totalled 452, a 6.1 per cent increase compared to the 426 sales in November 2013, and a 47.2 per cent increase over the 307 attached properties sold in November 2012. The benchmark price of an attached unit increased 4.8 per cent between November 2013 and 2014 to $480,200.

- See more at: http://www.rebgv.org/monthly-reports?month=November&year=2014#sthash.I3Zwjkfk.dpuf

Metro Vancouver home sales remain strong

Home buyers in Metro Vancouver remained active in November, a month that is traditionally a quieter time of year for real estate.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached 2,516 on the Multiple Listing Service® (MLS®) in November 2014. This represents an 8.4 per cent increase compared to the 2,321 sales in November 2013, and a 17.7 per cent decline compared to the 3,057 sales in October 2014.

Last month’s sales were 6.9 per cent above the 10-year sales average for November.

 “It’s been a more active fall than we typically see in the Metro Vancouver housing market,” Ray Harris, REBGV president said. “Home prices across the region have experienced steady gains in 2014 of between three and seven per cent depending on property type.”

New listings for detached, attached and apartment properties in Metro Vancouver* totalled 3,016 in November. This represents a 7.1 per cent decrease compared to the 3,245 new listings in November 2013 and a 32.8 per cent decline from the 4,487 new listings in October.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 12,553, a 10.2 per cent decline compared to November 2013 and a 9.4 per cent decrease compared to October 2014.

“This is traditionally a low inventory time of year, so it’s a good time to list your home for sale if you want to face less competition in the marketplace,” Harris said. 
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $637,300. This represents a 5.7 cent increase compared to November 2013.

Sales of detached properties in November 2014 reached 1,012, an increase of 9.3 per cent from the 926 detached sales recorded in November 2013, and a 60.9 per cent increase from the 629 units sold in November 2012. The benchmark price for detached properties increased 7.9 per cent from November 2013 to $997,800.

Sales of apartment properties reached 1,052 in November 2014, an increase of 8.6 per cent compared to the 969 sales in November 2013, and a 40.3 per cent increase compared to the 750 sales in November 2012. The benchmark price of an apartment property increased 3.2 per cent from November 2013 to $379,500.

Attached property sales in November 2014 totalled 452, a 6.1 per cent increase compared to the 426 sales in November 2013, and a 47.2 per cent increase over the 307 attached properties sold in November 2012. The benchmark price of an attached unit increased 4.8 per cent between November 2013 and 2014 to $480,200.

- See more at: http://www.rebgv.org/monthly-reports?month=November&year=2014#sthash.I3Zwjkfk.dpuf

Metro Vancouver home sales remain strong

Home buyers in Metro Vancouver remained active in November, a month that is traditionally a quieter time of year for real estate.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached 2,516 on the Multiple Listing Service® (MLS®) in November 2014. This represents an 8.4 per cent increase compared to the 2,321 sales in November 2013, and a 17.7 per cent decline compared to the 3,057 sales in October 2014.

Last month’s sales were 6.9 per cent above the 10-year sales average for November.

 “It’s been a more active fall than we typically see in the Metro Vancouver housing market,” Ray Harris, REBGV president said. “Home prices across the region have experienced steady gains in 2014 of between three and seven per cent depending on property type.”

New listings for detached, attached and apartment properties in Metro Vancouver* totalled 3,016 in November. This represents a 7.1 per cent decrease compared to the 3,245 new listings in November 2013 and a 32.8 per cent decline from the 4,487 new listings in October.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 12,553, a 10.2 per cent decline compared to November 2013 and a 9.4 per cent decrease compared to October 2014.

“This is traditionally a low inventory time of year, so it’s a good time to list your home for sale if you want to face less competition in the marketplace,” Harris said. 
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $637,300. This represents a 5.7 cent increase compared to November 2013.

Sales of detached properties in November 2014 reached 1,012, an increase of 9.3 per cent from the 926 detached sales recorded in November 2013, and a 60.9 per cent increase from the 629 units sold in November 2012. The benchmark price for detached properties increased 7.9 per cent from November 2013 to $997,800.

Sales of apartment properties reached 1,052 in November 2014, an increase of 8.6 per cent compared to the 969 sales in November 2013, and a 40.3 per cent increase compared to the 750 sales in November 2012. The benchmark price of an apartment property increased 3.2 per cent from November 2013 to $379,500.

Attached property sales in November 2014 totalled 452, a 6.1 per cent increase compared to the 426 sales in November 2013, and a 47.2 per cent increase over the 307 attached properties sold in November 2012. The benchmark price of an attached unit increased 4.8 per cent between November 2013 and 2014 to $480,200.

- See more at: http://www.rebgv.org/monthly-reports?month=November&year=2014#sthash.I3Zwjkfk.dpuf
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What Makes A Good Credit Score And How Important Is It In Getting A Mortgage


A recent article featured in the Globe and Mail discussed the importance of having a “stellar” credit rating when wanting approval for mortgage financing. Well your credit history is very important in the approval process it’s not everything and there are definitely lenders with specific mortgage programs to help people who might not have “stellar” credit ratings.

 

Here’s the link to the article below which details, among other things, the breakdown of the importance of such things as making payments on time and balances owing on existing credit.

 

http://www.theglobeandmail.com/globe-investor/personal-finance/mortgages/home-buying/to-get-a-mortgage-youll-need-to-have-a-stellar-credit-score/article10947039/

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Time To Lock In A Rate? Interest Rates to Rise May 2015!!
 
According to the OECD (Organization for Economic Co-Operation & Development) interest rates will start rising a full 6 months before current forecasts by leading economists. There are several reasons for this including the fact that Canada's inflation rate has been running a little above their target of 2% lately. This coupled with the fact that the American economy is doing better & better may indeed start pushing rates up earlier than last forecast.
 
In my opinion it would be a very good time to get a rate hold put in place now! I can hold rates for renewals, purchases, pre approvals and refinances for up to 120 days or 4 months.
 
Here's the full article if interested:
 
"Interest rates in Canada will increase in May 2015 and rise steadily thereafter. That's the forecast of the Organization for Economic Co-operation and Development which would mean rises 6 months before most economists are predicting. It's based on concerns over inflation, which is currently running above the Bank of Canada's 2 per cent target. OECD says that the central bank's policy of holding back due to slack in some areas of the economy will have to be scaled back with rate rises as the slack recedes. While any initial rise may be small some experts are expecting a greater demand for fixed-rate mortgages in the coming months."
 
Tony Marchigiano 1-155 Water Street
Mortgage Broker Vancouver, BC

cell: 604 505 7109
fax: 604 909 4666
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Vancouver Real Estate Not In Bubble Says CMHC, But Housing Analyst Disagrees

Prices may seem sky-high in Vancouver, but economists at the Canada Mortgage and Housing Corporation say there is no overheating or acceleration in the city.

 

In a Housing Now Canada report released Monday, the CMHC categorized Vancouver as low risk, saying "the level of home prices in Vancouver is supported by local growth in personal disposable income and long-term population growth."

 

Housing analyst Ben Rabidoux, president of market research firm North Cove Advisors, disagrees with the CMHC's analysis.

 

"Average resale prices in Vancouver are currently 26 times the average personal disposable income in the city. That is more than double the long term norm and far and away the highest multiple in the country."

Rabidoux questions how the CMHC can conclude prices are being supported by local income growth given the growing gap between how much people earn and the cost of housing.

 

Data released by the CMHC show prices have gone up faster in Canada than in the United States, the UK and Australia — Vancouver has the most expensive real estate in Canada, and some of the highest prices in the world.


Rabidoux and some other analysts believe a correction is inevitable, while others say prices will remain firm unless there's an economic shock, such as sharply higher interest rates or a spike in B.C.'s unemployment rate.

 

House prices in Canada vs. other countries

House prices in Canada vs. other countries since 2000. (CMHC)

 

House prices in Canada plus major cities

House prices in Canada plus major cities (CMHC)


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8 Must-Have Home Decor Pieces

 

For most designers, there are certain home decor pieces they return to time and time again. These elements instantly enhance any space, no matter what the style, and add personality, function or color (maybe all of the above). Regardless of the complexity of the space, these eight essentials give rooms the shot of style they need.

 

Tips on how to start a decorating project

 

1. Porter floor lamp. This classic lamp is the epitome of good transitional design — a little bit of contemporary and a little bit of traditional.

By combining the elegant forms of a traditional lamp with the crispness of a minimalist metallic finish, the Porter creates a statement that can mix well with any style and add a sense of brightness even before you turn it on.

Use it: Behind your bedside tables, next to a sofa (paired or alone) or in an office.

2. Brno chair. Another modern classic that can suit any space, this cantilevered chair (seen here in the foreground) is great for bringing any space into the 21st century.

Use it: As a dining chair, an office chair, you name it. Consider using a pair as dining end chairs. They’ll serve double duty as extra guest seats.

3. Chinese garden stool. Speaking of seating extra guests, the Chinese garden stool is another designer go-to solution for all sorts of dilemmas. It’s a stool, footrest and side table, and using one is an excellent way to add a pop of color and pattern or a touch of ceramic to round out a texture palette.

Plus, it moves outdoors with you as soon as the weather warms up — truly a smart long-term style investment

Use it: In the bathroom as a wet-friendly side table, or tucked under a console until it’s needed elsewhere.

4. Mongolian pillow. Real or faux, a sheepskin pillow adds a touch of luxury to any space. It softens a crisp modern sofa or dresses up a relaxed family lounger. The lovely feel will draw you in as soon as you run your fingers through it.

Use it: As a layer on your bedding or behind the main pillows.

5. Plug-in sconce. Plug-in sconces are always a go-to lifesaver for two reasons: They add an important extra layer of light with no electrical work, and they do it while looking amazing.

Use it: As a directional desk lamp, a bedside reading light or a space-saving light anywhere to soften shadows from an overhead fixture.

6. Saarinen-style table. The marble-topped Saarinen table, a modern-period staple that has inspired many similar silhouettes, brings an accessible touch of stone (a much smaller investment than, say, a full kitchen counter or bathroom tile) and has a very practical, livable style. The clean look is easy to dress up or down, and the table comes in sizes from a compact 24 inches (or even smaller) to a full eights seats or beyond.

Use it: For a casual breakfast nook or formal dining room.

7. Statement mirror. A beautiful mirror virtually doubles the size of your space and creates an important visual focal point at eye level.

This style has burnished metal, for an aged quality with endless subtle detail. A touch of worn metal helps any space feel texturally rich and contrasts clean glass beautifully.

Use it: Choosing one with an extensive frame helps the mirror become a work of art, anchoring a seating grouping or foyer table.

8. Bar cart. Use a bar cart in a bathroom for all your everyday needs: soaps, shampoos, towels — it’s like a little spa on wheels. Even if you don’t have a vast en suite, a compact bar cart makes an excellent place for storing your morning essentials in easy reach while giving the bathroom a stylish twist.

Use it: A bar cart is also great as a side table for your sofa, as a nightstand or as a guest-room addition.

 

 

Yanic Simard, Houzz Contributor - FORBES

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Mortgage Rates To Stay Low For The Next Six Months


A recent article in Mortgage Broker News the author believes as do I and many leading economists that mortgage rates will stay low for at least another six months. Good news for many including those who have variable rate terms or those whose mortgages are coming up for renewal as the article explains:

"Renewing a home loan shouldn’t be too painful for the next six months according to a new report from The Canadian Association of Accredited Mortgage Professionals. It’s predicting that the low rates should continue well into 2015 and that means those that have been used to paying at a higher rate can look forward to savings and that will be good news for the economy as a whole. CAAMP says that of the 1.35 million homeowners that have renewed or refinanced their loans during this year 1.05 million are now paying at a lower rate. Their figures also show that 16 per cent of those with a mortgage have increased the level of their monthly payments or paid a lump sum to pay down their loan faster. Another 7 per cent have increased the frequency of their loan repayments to fortnightly. Around 11 per cent have taken equity out of their home for other purposes including debt consolidation, home renovation or investments. Among first-time buyers the average down payment is 21 per cent with 11 per cent of respondents being gifted the money from a relative and 6 per cent receiving a loan from a family member."


Tony Marchigiano 1-155 Water Street
Mortgage Broker Vancouver, BC

cell: 604 505 7109
fax: 604 909 4666
 


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Are New Mortgage Rules A Non-Event?
 
OSFI (The Office of Superintendent for Financial Institutions) finally came out with their B-21 lending rules. Twenty one more recommendations made for banks and federally related lenders to follow. But has a lot changed? Not really. They also came out with B-20 rules back in 2012 which did make some big changes and made mortgages harder to get. 
 
Below is a recent article by Canadian Mortgage Trends which states their opinion on the above as well as some of the changes that were made. If interested click here:
 
 
And, always, if you have any home financing related question please give me a call.
 
Sincerely,
 
Tony
 
Tony Marchigiano1-155 Water Street
Mortgage BrokerVancouver, BC
 
cell: 604 505 7109
fax: 604 909 4666
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Vancouver, Toronto Prime Real Estate Prices Top Rome And Milan: CBRE

 

Residents of Toronto and Vancouver ought to ask themselves why they're still living in those cities, when they could buy prime Roman real estate for cheaper.

 

A map released by commercial real estate company CBRE to The Huffington Post Canada on Thursday showed that prime residential prices per square foot in Vancouver ($1,368) and Toronto ($1,225) exceed prices in both Rome ($1,073) and Milan ($1,073).

 

They're also not too far off more expensive cities such as Tokyo ($1,482), Singapore ($1,727) and Paris ($2,000).

The reason, said Vancouver-based director of research Ross Moore, is that markets in some cities (particularly Vancouver) are now being driven by international factors such as foreign investment.

 

"We have a handful of cities around the world whose markets are increasingly being driven by global trends and factors, as opposed to local factors," he said.

 

The statistics come out of a map that appeared in a recent CBRE report out of the U.K. titled "Global Living: London in an International Context."

 

The report has a section on overseas investors, in which it names Vancouver among cities that are favoured by Chinese buyers, citing factors such as "well known universities, a strong economic backdrop and world-class lifestyle."

 

It also says that luxury condos in both Toronto and Vancouver have become increasingly popular with retirees looking to make a "lifestyle shift, without necessarily making a huge sacrifice on the size of the property."

 

Foreign investment is a particularly touchy subject in Canada, where it's been blamed for an uptick in housing prices that have made home ownership unaffordable for many residents.

 

How much it's a factor in housing prices remains open to question. Canada does not keep statistics on foreign ownership the way that countries such as the U.S. and Australia do.

 

Whatever the cause of rising real estate prices, Moore said that both Toronto and Vancouver ought to become used to being globally-competitive cities.

 

"I don't think it's a trend that's going to peter out," he said. "Once you're on that global stage, you tend to stay."

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Credit: Huff Post

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Metro Vancouver Home Sales Above Average In October

 

Home sales in the Metro Vancouver* housing market continue to outpace long-term averages for this time of year.

 

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 3,057 on the Multiple Listing Service® (MLS®) in October 2014. This represents a 14.9 per cent increase compared to the 2,661 sales in October 2013, and a 4.6 per cent increase over the 2,922 sales in September 2014.
 
Last month’s sales were 16.6 per cent above the 10-year sales average for October.

 

“We’ve seen strong and consistent demand from home buyers in Metro Vancouver throughout this year. This has led to steady increases in home prices of between four and eight per cent depending on the property,” said REBGV president Ray Harris.

 

New listings for detached, attached and apartment properties in Metro Vancouver totalled 4,487 in October. This represents a four per cent increase compared to the 4,315 new listings in October 2013 and a 14.7 per cent decline from the 5,259 new listings in September.

 

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 13,851, a 9.2 per cent decline compared to October 2013 and a 6.6 per cent decrease compared to September 2014.

 

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $637,000. This represents a six per cent increase compared to October 2013.

 

“Detached homes continue to increase in price more than condominium and townhome properties. This is largely a function of supply and demand as the supply of condominium and townhome properties are more abundant than detached homes in our region,” Harris said.

 

Sales of detached properties in October 2014 reached 1,271, an increase of 19.1 per cent from the 1,067 detached sales recorded in October 2013, and a 60.9 per cent increase from the 790 units sold in October 2012. The benchmark price for detached properties increased 7.9 per cent from October 2013 to $995,100.

 

Sales of apartment properties reached 1,268 in October 2014, an increase of 15.5 per cent compared to the 1,098 sales in October 2013, and a 57.9 per cent increase compared to the 803 sales in October 2012. The benchmark price of an apartment property increased four per cent from October 2013 to $380,200.

 

Attached property sales in October 2014 totalled 518, a 4.4 per cent increase compared to the 496 sales in October 2013, and an 53.3 per cent increase over the 338 attached properties sold in October 2012. The benchmark price of an attached unit increased 4.7 per cent between October 2013 and 2014 to $479,500.

Click here to download the complete statistics package.

 

REBGV Full Article>

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What Makes Good Mortgage Financing?
 
So what makes GOOD mortgage financing? 
 
Well rate is definitely important but is just one part of it. 
 
You'll also want to consider things such as:
 
The ability to make extra payments
How are the penalties calculated?
What refinancing options are available?
Is a variable rate mtg an option?
 
Are there other important features such as the ability to port your rate & term to another property to avoid any penalties.
 
So if you're thinking of buying a place but feel intimidated or uncomfortable by the process of getting pre approved for a mortgage I would love the opportunity to share my knowledge with you. 
 
Again, I'm Tony Marchigiano at Mortgage Aliiance West, the Right Broker...for the Right Mortgage!
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Most People Need Mortgage Help

 

This was the title to a recent article on Canadian Mortgage Trends. It does support the fact that personalized mortgage advice, by a licensed professional, is still an essential to the majority of people.

 

See the article below for details and percentages:

 

"Despite the abundance of Internet mortgage resources, more than 6 in 10 Canadians say they still need help when shopping for a mortgage, according to a recent poll.

Most folks also value meeting their mortgage advisor in person. The survey found that only 27% didn’t think a face-to-face talk with a mortgage professional was important.

 

Then again, well over 90% of investors felt it was necessary to meet with a stock broker prior to the 1980s. Now 45.5% of the 10.8 million retail brokerage accounts in Canada are self-directed, as per Investor Economics data. It’s the trend that matters here, not the absolute value.

 

Other stats from the survey:

  • 25% say they need no help when selecting a mortgage.
  • 13% “didn’t know” if they need help.
  • 56% said they would not go to a bank for mortgage advice.

RateSupermarket.ca polled 453 Canadians via their newsletter and social media, so the survey cannot be deemed representative of the population. But it nonetheless supports the fact that personalized mortgage advice is still essential to the majority."

 

 

Tony Marchigiano                            1-155 Water Street

Mortgage Broker                              Vancouver, BC

tony@mawest.ca                           mawest.ca

 

cell: 604 505 7109

fax: 604 909 4666

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What It's Like To Live In a $95-Million Penthouse 1,396 Feet Above NYC!

 

432 Park Avenue – this is the address of the New York skyline’s newest ornament and of the tallest residential tower in the Western Hemisphere. Towering up to 1,396 ft, the skyscraper offers 104 apartments at 30,000 sq ft each with 12.5 ft ceilings, 10 x 10 ft windows, and prices ranging from $16,95 million to $82,5 million.

 

The breathtaking condo tower was designed by Rafael Viñoly and took three years to construct. It is situated in the center of Manhattan, and the upper penthouses offer a view of all of New York City: from the Hudson to the East River, from the Bronx to Brooklyn, and from Central Park to the Atlantic Ocean. The building also features a private restaurant with an outdoor terrace, a 75ft swimming pool/spa, a screening room/ performance venue, climate-controlled wine cellars, a children’s playroom and a board room.

 

The skyscraper will welcome its first residents next year, so if you’re looking for a nice little place in NY and have a solid bank account, you’d better hurry, as the penthouses are going like hot cakes.

 

FOR PICTURES and Full Article Click HERE>

Credit: BoredPanda

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Not All Mortgage Penalties Are Equal
 
Last week CBC reported on an Edmonton family's shock over being charged a $17,000 penalty for breaking their mtg term at TD Bank. They were breaking it to sell their home in order to start an orphanage in Haiti. This was seriously going to cut into their savings and jepordize their plans.
 
On average up to 70% of people break their mortgage term prior to maturity. For reasons such as to refinance, lower their rate or to move.
 
If faced with a penalty there is no reason why it should be this large.  
 
Since moving the banking world to the broker one I've learned that the penalties charged by some of the lenders, I now work with, are a quarter of the amount of what a bank, & even some credit unions, would charge. That coupled with no haggling on rates, better features with more flexibility on paying down your mortgage makes this a better way to go to avoid... what I call... Mortgage Remorse.
 
So if you're looking to buy & are pre approved for a mortgage with your bank please consider there are many other options available.
 
Again, I'm Tony Marchigiano, Mortgage Broker @ Mortgage Alliance West.
 
Tony Marchigiano 1-155 Water Street
Mortgage Broker Vancouver, BC

cell: 604 505 7109
fax: 604 909 4666
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Vancouver's Real Estate Forecast To Stay Hot Into Next Year, Study Finds

 

Foreign money and a robust provincial economy will preclude any cooling of Vancouver’s red-hot property market next year, according to a major real estate study being released Wednesday.

 

Office space is the one real-estate category where an oversupply is forecast in the city, to be accompanied by potential downward pressure on pricing.

 

That assessment comes courtesy of a voluminous annual report, titled Emerging Real Estate Trends 2015, issued jointly by the Urban Land Institute and PricewaterhouseCoopers.

 

It describes Vancouver’s market as one of the country’s “best bets” in 2015, fourth strongest in the country in terms of investment, development and housing.

 

Vancouver trails Calgary and Edmonton, boosted by Alberta’s resource industry, and Toronto, where a still-strong condo market is being bolstered by people flocking to live downtown, in more compact spaces.

The report’s bullishness on Vancouver is tied to a recent Conference Board of Canada prediction that, during the next three years, the West Coast city will lead all other major urban centres in economic growth — with a 3.2-per-cent annual increase in output.

 

The report also cites the role being played by Greater Vancouver’s relatively new tech industry.

And, of course, Vancouver is “a hedge city.”

 

It “lacks the cachet of Paris or Milan,” opines the report. “But it does offer ... a place for the world’s super-rich to park sizable funds in local real estate as a hedge against risk.

 

“Returns aren’t the point; safety of capital is, and a $5-million condo is more insurance policy than investment.”

The report also notes that foreign buyers, mainly from Hong Kong and China, account for the purchase of about 40 per cent of the luxury homes and are “one of the key reasons Vancouver real estate prices continue to rise.”

 

With the economy on a roll and so many foreign buyers, the city has issued a record number of building permits in 2014.

 

The report identifies a concern about a possible office-space glut resulting from several new office towers being completed. “Some foresee AAA space leasing at B rates.”

 

No such discount rates are anticipated in the residential sector. The report features a chart showing Vancouverites in 2015 will spend more than 50 per cent of household income on shelter — significantly more than in other cities, even Toronto where just more than 30 per cent will go to housing next year.

 

Overall in Canada, the property market is expected to be steady, with urbanization being the “new normal. People are flooding into city cores to live close to both work and the lifestyle they crave.”

 

Retailers and companies are following them with some builders incorporating stores and offices into their centrally located residential housing developments.

 

Western Canada’s real-estate market will continue to be the most robust, with the region acting as “the country’s economic engine.”

 

In a separate analysis on Wednesday that focused exclusively on the Vancouver market, Urban Analytics Managing principal Mike Ferreira told a downtown luncheon audience of realtors and developers that not since 2014 have sales for multi-family housing been so strong.

 

The real estate strategist said investors comprise a significant portion of condo buyers in Vancouver and Burnaby, but purchasing also has been strong among first-time buyers “with help from mom and dad, and low interest rates” and mature buyers, downsizing from single-family homes.

 

Ferreira told his audience the Chinese are a strong component of the market “and I suspect we will see more impact from that buyer group as we go along, especially with (the political instability) we are seeing in Hong Kong.”

 

byaffe@vancouversun.com

Click here to report a typo or visit vancouversun.com/typo.

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Mortgage Debt Being Reduced At Record Pace
 
According to Benjamin Tal, CIBC Economist, and contrary to the Bank of Canada's estimates mortgage debt has decoupled from home sales. Home sales are still moving along at a good pace but mortgage debt is about half the pace it used to be. 
 
Reasons for this is people with mortgages are paying down their mortgages more quickly much a do to the lower rates we've been benefiting from.
 
People are making lump sum payments, accelerating the payments as well as taking advantage of other ways of paying down their mortgage. One way of doing this is keeping your mortgage payment dollar amount the same even though your rate may have fall when you renew your mortgage. 
 
See this interesting article for more of this encouraging news… Read HERE
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