SUNNYSIDE ESTATES – White Rock / South Surrey NO PAD FEES!!! Desirable adult oriented gated community. Updates & renovations include Newer roof, Skylights, furnace, carpets. Detached wkshp. Private garden area w/patio. Spacious open plan. Lrg family room-Den, w/cozy gas F/P, vaulted ceilings, great flr plan, close to shops & bus. Meas. approx. Pets OK. Own your own lot in White Rock’s most desirable adult oriented gated community.
September, 2011: Real Estate Market Update
MORE LISTINGS, FEWER SALES KEEPING LID ON HOME PRICES IN THE FRASER VALLEY (Surrey, BC) – Property sales on the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) in September were the third lowest for that month in the last decade, while new listings for September ranked the second highest. Sukh Sidhu is FVREB’s president. “This is the third month in a row based on the 10-year average where we’ve seen lower sales combined with a higher influx of new listings.” The Fraser Valley Real Estate Board processed 1,165 sales in September, an increase of 12 per cent compared to the 1,044 sales during the same month last year and a decrease of 13 per cent compared to 1,341 sales in August. The board posted 2,651 new properties on its MLS® in September, an increase of 10 per cent compared to September of last year and on par with the listings it received in August. The number of active listings in the Fraser Valley remained at 10,096 in September, at an annual high for the last three months. Sidhu adds, “This trend is stabilizing home prices in the Fraser Valley resulting in the price of a typical detached home in September being only slightly higher than it was in May. “Although average prices year-over-year are still showing strong increases or decreases for some communities, make sure to ask your local REALTOR® for the benchmark price as well. It’s the predicted sale price of a typical home in your neighbourhood and unlike the average price, isn’t sensitive to sales of high-end or low-end homes. It’s one of our most reliable pricing tools.” The benchmark price of a single family detached home in the Fraser Valley in September was $530,321, an increase of 4.5 per cent compared to $507,429 in September …
Home improvements to help you get the most when selling your house
It’s a highly competitive market for home sellers right now. More homes to compete with means that the impression your homes makes – from the curb, and on the inside – matter now more than ever. You can increase your chances of selling faster – and at today’s top dollar – by investing in a select few home improvement projects that have been shown to make a big impact on buyers. Bad news alert: it might cost you a little time, effort and cash. The good news, though, is that the best projects for quickly increasing your home’s resale value tend to be cosmetic and fairly simple and inexpensive to do. Here are five projects with big-time return on investment for home sellers-to-be, in terms of their power to attract buyers, and to attract dollars from those buyers. 1. Painting: Adding a fresh coat of paint to ceilings and walls is a tried and true way to increase your home’s appeal to buyers. Go for white or neutral tones that help lighten your rooms. (Now is not the time to show off your fascination with fuschia and lime green.) Buyers will have an easier time envisioning how they will infuse their own personalities into your home if they’re looking at a relatively blank slate. Painting lightens and brightens rooms, instantly removes scuffs and dings and gives every room a fresh, polished feel. Fresh exterior paint – even if your time or cash budget limits your efforts to accents like eaves, shutters, doors and trims – is also a quick, inexpensive way to polish the look of your home from the curb. 2. Landscaping: Everything you’ve heard about curb appeal is true. First impressions matter – especially if your house is one of eight or nine a buyer has seen in one day. …
Hartford Woods Condominium: 2 bedroom, 2 bathroom
Popular Hartford Woods, 2 bedroom + den [potential 3 BEDROOMS]. Overlooks court yard, very private & quiet. Updated counter tops, freshly painted, large soaker tub, Closet Organizers, Gas fireplace, newer flooring in kitchen & 2 parking stalls. Great family complex with pool, hot tub, 2 small pets allowed and maint. is $305. Shop & Compare – Best value in Guildford
2br Condo: THE SANDS
Perfect for the first time home buyer looking to live in White Rock / South Surrey! Well maintained 2 bedroom, 2 bath condo on the 3rd floor with large Courtyard – South facing balcony (quiet). Eating area in the kitchen, gas fireplace in sunny living room, crown moulding – shows very well!
August, 2011: Real Estate Market Update
HOME SALES IN FRASER VALLEY HOLD STEADY IN AUGUST (Surrey, BC) – The Fraser Valley Real Estate Board processed 1,341 sales on the Multiple Listing Service® (MLS®) in August, an increase of 35 per cent compared to the 997 sales during the same month last year and slightly higher than the 1,322 sales in July. Sukh Sidhu, president of the Fraser Valley Real Estate Board, says, “We typically see a summer dip in sales in August compared to July and that didn’t happen this year. We attribute the current steady market to interest rates remaining favourable, as well as buyers taking advantage of home prices softening slightly in certain markets and an influx of new inventory across all property types.” The board posted 2,644 new properties on its MLS® in August, an increase of 26 per cent compared to August of last year and 10 per cent fewer than it received in July. The number of active listings in the Fraser Valley remained at 10,074 in August, on par with July’s volume. “The number of homes on the market remains at a yearly high, which combined with a decrease in sales, can put downward pressure on pricing. We’re only seeing this in some communities for certain property types underlining the importance for both sellers and buyers to obtain local real estate expertise. “Year over year, home prices in the Fraser Valley are either on par or showing increases; month over month, benchmark prices for the three main residential property types combined declined by 1.3 per cent.” The benchmark price of a single family detached house in the Fraser Valley in August was $528,959, an increase of 3.7 per cent compared to $510,107 in August 2010. For townhouses, the benchmark price in August was $327,317, an increase of 0.9 per cent …
Enhance the Space in your Home
Nothing sells a home better than space! The more open, flowing and orderly rooms seem to potential buyers, the easier it will be to sell the home. That’s one reason buyers tend to prefer newer homes equipped with open-design floor plans. Whether your home was built in the last year, or the last millennium, there are things you can do to enhance its space. Before you get started, it’s important to ask yourself what a redecorating or home improvement project will do to enhance the space in your home. Even if you’re not thinking of selling today, you may consider it in the future. Making decisions now to enhance the space in your home will pay off in a big way when you eventually do sell.
Relocating With Pets Can Be Stressful
Moving is very stressful for a family, That stress is also experienced by the pets. They want to know that they’re part of the family and that they’ll be going, too. Sadly, many pets will not be going with their families to new homes. According to research published in 1999 by the National Council on Pet Population Study and Policy, moving is identified as the most common of 71 reasons for relinquishing dogs and the third most common reason for relinquishing cats to shelters. In addition, when citing moving as the reason for giving up their pets, 38.8 percent of dog owners and 38.1 percent of cat owners cited the refusal of a landlord to allow the animal in an apartment or house. But for most people, leaving their companion animals behind is out of the question. With the proper preparation, you can ensure that your next move will go more smoothly, for you and your pets. Before the Move Moving with a companion animal usually means moving with a cat or dog. While these animals may react similarly to changes within the home, cats and dogs will, for the most part, respond to a family relocation with different behaviors. “We tend to socialize our dogs a lot more,” says Jacque Lynn Schultz, director of special projects for ASPCA Animal Sciences. “We take them more places and often stay overnight with them. We don’t do that with our cats.” In general, cats are more focused on their surroundings and don’t adapt to change as readily as their canine counterparts. Felines thrive on constancy, and any disruption to their environment can foster stress-induced behavioral changes. An independent cat may become clingy and atypically affectionate. Conversely, a cat who’s normally demonstrative may become temporarily reclusive. The most important thing any pet owner …
Basics of Transporting Your Vehicle
Relocating to the Lower Mainland? When moving long distance, you may want to consider having your vehicle transported professionally. For many families, a car is the second largest investment they have ever made. Getting that investment safely to a new home is an important component of a smooth move. What are my options for transporting a vehicle? A vehicle can be moved with your household goods or with a separate auto transport company. To ship your car most efficiently and cost-effectively, it’s important to know about the different shipping options, such as open and closed trailers. What is an open trailer? An open trailer is the more popular and frequently used trailer. It carries anywhere from 10-12 vehicles at a time. Advantage: Open trailers are less expensive than closed trailers. The cost is determined by the weight of the vehicle. Disadvantage: Open trailers are subject to the elements (i.e. rain, snow, wind, dirt and dust). What is a closed trailer? A closed trailer is a vehicle that has a covered freight area. It is commonly used for shipping expensive or classic cars. If you wish to protect your car from wind-blown sand and heat, this is your best option. Advantage: The car is well protected from the elements of nature. Disadvantage: Closed trailers cost more. Is my car insured? The company that transports your vehicle(s) should provide adequate insurance to protect against driver negligence. Ask for a copy of the “Certificate of Insurance” and familiarize yourself with the types of coverage provided. Consult with your current auto insurance agent to determine whether you need supplemental coverage. Turning your vehicle over to the carrier. Prior to handing over your car to a driver or transport company, be sure you receive an “Original Inspection Report.” This report provides: pick-up and delivery information, …
Home Security – Deadbolts
When securing your home, it’s important to know that all locks are not created equal. Home security professionals overwhelmingly prefer deadbolts to other types of locks because deadbolts are harder to bypass. When choosing a deadbolt, look for one with a full one-inch bolt. You also want to look for a reinforced strike plate with long mounting screws for strength and durability. Reputable manufacturers offer a wide range of locks with varying prices. When you think about your security though, spending a few extra dollars on the right lock can be well worth it.
Energy Efficiency Checklist for your Home
In this era of rising energy prices and global warming, it makes sense that our homes should be as energy efficient as possible. An easy way to do this is to know where your home is likely to lose energy and then take corrective action to minimize the impact. I have an energy efficiency checklist that I would be happy to share with you free of charge. That way, you’ll be ahead of the game when it comes to energy conservation. Home Energy Checklist What You Can Do Today… – Turn down the temperature of your water heater to the warm setting (120F). You’ll not only save energy, you’ll avoid the risk of accidental scalding. – Check if your water heater has an insulating blanket. An insulating blanket will pay for itself in one year or less! – If you own a waterbed, make sure you make your bed today. The covers will insulate it and save up to one-third of the energy it uses. – Begin using energy-saving settings on your refrigerator, dishwasher and clothes washer/dryer. – Make sure you check the age and condition of your major appliances, especially the refrigerator. You may want to replace it with a more energy-efficient model before it expires. – Examine your incandescent lights for opportunities to replace them with compact fluorescents. These new bulbs can save three-quarters of the electricity used by incandescents. The best targets are 60- to 100-watt bulbs used several hours a day. Measure the clearance in your fixtures to make sure they will accommodate compact fluorescents, which are slightly larger than incandescent bulbs. – Clean or replace the filters in your furnace, air-conditioner and heat pump. …This Week – Visit the hardware store. Buy a water-heater blanket, low-flow showerheads, faucet aerators and compact florescent bulbs. – Rope …
July, 2011: Real Estate Market Update
HOME SALES TAKE SUMMER DIP; PRICES REMAIN STABLE IN THE FRASER VALLEY (Surrey, BC) – The Fraser Valley Real Estate Board processed 1,322 sales on the Multiple Listing Service® (MLS®) in July, an increase of 20 per cent compared to the 1,101 sales during the same month last year, however 17 per cent fewer than the 1,588 sales in June. While sales decreased month-over-month, listings went up. The board posted 2,931 new properties on its MLS® in July – 6 per cent more than received in June and 24.5 per cent more than in July 2010 – pushing overall inventory to 10,073 active listings, the highest level in the Fraser Valley since last summer. Sukh Sidhu, president of the Fraser Valley Real Estate Board, says, “Last month, we were busier listing rather than selling properties, which is good news for prospective buyers. A buyers’ market means REALTORS® will have more homes to show their clients and increased negotiating power on their behalf. “For sellers in this market, expert guidance to determine your home’s list price is essential. Overall, we’re seeing home prices remain strong compared to a year ago, but not for every property type or every community. We’re still seeing tremendous regional variation in prices – some areas showing increases; others decreases – as well as local differences in the average number of days on the market.” For example, in July, it took on average 18 days to sell a townhome in North Delta; 45 days on average to sell a single family home in White Rock/South Surrey; and, 65 days on average to sell an apartment in Abbotsford. The benchmark price of a single family detached house in the Fraser Valley in July was $534,042, an increase of 4.6 per cent compared to $510,470 in July 2010. …
Gorgeous Chantrell Executive Rancher: $1,787,000
Chantrell Executive family home on large .55 acre with Perimeter Privacy Hedging. This builder’s own masterpiece boasts 2 x 6 construction, built in alarm and intercom, soaring 10 foot ceilings, 4000 sq.ft. crawlspace, concrete tile roof, & more. Fully Renovated in 2011 including professional Interior Decor, gourmet granite kitchen, new dark walnut finished hardwood floors, extensive ornate moldings, new bathrooms. Huge games/rec room is ideal for entertaining large groups or in-home business. Perfect guest quarters can be found in the loft above the garage – fully equipped with living space, ensuite and walk-in-closet. Professionally landscaped yard. This home is like NEW, nothing to do, move in, relax, and enjoy the garden views. An amazing multi purpose room! Imagine the possibilities in using this space as a games room or home theater! Or, if you work from home, consider using this area as your workspace! Above the garage, you’ll find a loft area – perfect for a teenager in need of study space and privacy, or a place for your guests to stay.
Windows
Nothing affects energy loss in your home quite like windows. Winter heat and summer cooling is lost more through poor windows than any other feature in your home. Fortunately, windows are one area where new technology has made a world of difference. New window glazing techniques can often result in more energy efficient windows for your home. The best way to determine what you can do to save energy is to talk with a reputable window dealer. They can make recommendations that will enhance your home’s value and save energy at the same time.
Attic Ventilation
Attic ventilation is a factor critical to the comfort of your home, yet so few people pay attention to it. In warm weather excess heat found in your attic may lead to deterioration of wood supports due to condensation occurring as a result of inadequate ventilation. In cold weather, moisture laden air may move from the living area to the attic, resulting once again in a condensation problem if not properly ventilated. If you’ve noticed discoloration of wood in your attic, improper ventilation may be a problem in your home. A Realtor can put you in touch with some excellent resources that will help you determine if this is the case.
Home Renovations to Increase Real Estate Value
It’s common for homeowners to begin a remodeling job expecting to receive a return in excess of the cost of the remodel. Most homeowners view remodeling as an “improvement”, but the reality is that such projects often only bring the home up to current standards. It’s important to go into a remodeling project with realistic expectations. A home that meets current standards will be easier to sell when compared with other homes that haven’t been updated, but the increase in value might be less than you expect. Before you start your big project, call me and let’s talk about it. As your real estate professional, I can give you a realistic estimate of the value that will be added to your home.
Panorama Village Townhouse: Highbrae 3br END UNIT
$394,900. RARE FIND! Gorgeous 3br END UNIT at Highbrae, Panorama Village. Sunny western exposure. Open layout with 9′ ceilings and lots of natural light! Crown moulding & laminate floor. Bright & spacious kitchen w.patio access – perfect for entertaining! Finished basement inc. ensuite, ideal as media room, office, or guest suite. Double side-by-side garage, with 3d vehicle parking outside, & lots of visitor parking close by. Near schools, parks, shopping, transit & YMCA.
Realtors Help “Smooth” The Buying Process
Finding the right home, getting a fair price, calculating mortgage rates, figuring out closing costs – all of these factors make buying a home an often complicated and overwhelming process. However, a REALTOR can guide you through the home buying process and transform this confusing experience into one of the most exciting times of your life. Think of a REALTOR as a professional who brings buyers and sellers together for the sale of a property. REALTORS are licensed real estate professionals who are members of the Real Estate Board. REALTORS have access to the Multiple Listing Service® (MLS®) which is Canada’s most powerful real estate marketing system. This service provides REALTORS with listing information on a wide variety of properties for sale which in all likelihood includes your ‘dream home.’ Selecting a REALTOR One of the best ways is to ask your friends, relatives and neighbours if they can recommend a REALTOR with whom they have worked in the past. As a buyer, it is particularly important that you clearly understand the nature of your relationship with the REALTOR – whether the REALTOR will be acting in your best interests or on behalf of the seller, or, in some circumstances, for both the buyer and seller. The REALTOR will fully explain the different relationships before you start working together. It’s a good idea to talk with two or three REALTORS to find out which one has the best combination of experience and knowledge in the type of home and area in which you are interested. Once you have selected a REALTOR, remain loyal to him or her. Keep in mind that he or she will be spending a lot of time and effort to help you find the right home. Finding your new home A REALTOR will help you zero …
No Time Like The Present
If you are tired of renting and have always wanted a home of your own, now is an excellent time to take the home ownership plunge. Attractive mortgage interest rates, government incentive programs and an excellent supply of homes for sale are making the dream of home ownership possible for more would-be buyers. Consider Using Your RRSPs You may want to take advantage of the RRSP Home Buyers’ Plan. The program allows you to use your Registered Retirement Savings Plan (RRSP) contributions (up to $20,000 per person, $40,000 per couple) to buy or build a home. You must be a first-time buyer or at least not have owned a principal residence for four consecutive years in order to qualify under the plan. Remember, no income tax is deducted from these funds as long as they are repaid to an RRSP according to the government’s repayment schedule. Lower Down Payment Requirements Canada Mortgage and Housing Corporation’s (CMHC) Home Loan Insurance Plan is designed to give buyers lacking a larger down payment the opportunity to get into the market sooner. Under the program the minimum down payment requirement for federally insured mortgages for buyers is just five per cent. The home can be new or resale. Examine Your Needs It is never too early to start considering where you would like to live and the type of house that best suits your needs. This is where a REALTOR’s services prove invaluable. REALTORS have access to the Multiple Listing Service® (MLS®) which is a co-operative listing system that offers maximum exposure of homes listed for sale. A REALTOR can help you zero in on the type of home you want with a quick search on the computer. Once you have defined a few key parameters like price, location and number of bathrooms, a …
Moving Up in the Housing Market
Has the prospect of moving into a bigger and better home been in your plans from the day you first bought your ‘starter’ home? Well, now may be just the right time to make it happen. You may be surprised to learn that the cost of moving up is within your means. The equity you have already built up in your current home can often be sufficient for the down payment for your next home. And, with today’s attractive mortgage rates, carrying charges need not be much larger than what you are paying now. A REALTOR can help you calculate the carrying costs on a ‘move up’ home. Changing needs The desire to move to a larger home is often the result of changing needs for you and your family. A new child is on the way and you need a nursery; the children are growing and need their own rooms and more space to play; you’re tired of scrambling for a place to park on the street and want your own driveway; you need more space to build a home office now that you are self-employed; or maybe you just need a change of scenery. There are as many reasons as there are different lifestyles. Whatever your reasons, moving up to a new home can intensify the joys of home ownership. There are both practical and emotional results of moving up to a better home. On the practical side, the equity in your home will continue to grow and the value of a bigger and better home will be ultimately greater over time. On the emotional side, the pride of ownership in a bigger house will probably be even greater than when you bought your first home. Ask a REALTOR for help As will every major decision, the key …
Things To Consider as a First Time Homebuyer
Are you among the thousands of people in the Fraser Valley who pay rent each month, knowing full well that you will never see that money again? For many, this need not be the case. Instead, why not take that money and build it into an investment that can last a lifetime? Right now there are excellent opportunities for first-time buyers. Mortgage rates are attractive and there are plenty of reasonably priced homes on the market. What kind of home do you need and want? Buying a home is a balance of many requirements such as family size, location, income and lifestyle. REALTORS are excellent sources of advice and help in these matters. Not only do they have the experience and knowledge to make sure the choice you make will be the right one, but with access to the Multiple Listing Service® (MLS®), they can seek out suitable properties for you and provide you with a customized list of homes that meet your needs, wants and budget. Ask yourself exactly what you need in a home. How many bedrooms? How close to schools or shopping centres? Do you plan to have more children? Do you need a garage or a finished basement? New homes offer extensive warranties and pristine conditions but may not have mature trees or landscaping. Older homes often include improvements such as finished basements or rec rooms, decks and patios. Be sure to have any resale home inspected for needed repairs or upgrading. decide on a preferred location Living in the city means you will be close to amenities such as theatres and shopping. If you prefer a more rural lifestyle, make sure the extra time spent driving each day won’t detract from your enjoyment of the property. Townhomes and condominiums are obviously suited to particular lifestyles …
Title Insurance
We recommend that you purchase title insurance. Title insurance covers some risks inherant in real estate transactions, such as: Liens, encumbrances, or defects in the title to a property Tax arrears Defects that would have been revealed by an accurate, up-to-date survey Forced removal of an existing structure, other than a boundary wall or fence Work orders, zoning or set back non-compliance/deficiencey Another party claiming an interest in the property Fraud, forgery, duress, incometence, incapacity or impersonation Unmarketability, which allows another person to refuse to perform a contract to purchase, lease or make a mortgage Title insurance can be purchased for a one-time fee, payable when the property is purchased. Depending on the premium you pay, it protects your lender only, or both you and your lender. A title insurance company issues the policy, and the policy remains in effect for as long as you own the property. Note that a new policy may be required if you change mortgage lenders. For more information go to www.firstcanadiantitle.com. If you would like to order title insurance, please call to obtain a quote. This information is being provided to assist in the planning of a home purchase. It is not intended to be legal advice and the information set out may not be applicable in all cases. In some situations, a purchaser may be required to pay for other additional expenses such as a second mortgage, an assignment of rents, power of attorney, or independent legal advice. Loading…
Buying A Home Is A Sound Investment In Your Future
Why use your hard-earned cash to pay the landlord’s mortgage when you could be using the rent money to buy a home of your own? That’s a question many people ask themselves when they start thinking about moving out of the rental market to home ownership. It’s a big step. For most people, taking out a mortgage is the biggest financial commitment they will ever make. But buying your own home has always made sound financial sense. Here are some facts to think over when considering home ownership as opposed to renting. If you are 35 now and just buying your first home, you will likely be mortgage-free when you are 60 and sitting comfortably on a considerable asset. It’s highly likely your investment will appreciate considerably in 25 years. It’s important, however, not to buy with the intention of making a quick fortune. Think of home buying as a sound, long-term investment. Buying a home is a very effective way of saving regularly over many years. Even if you never buy into another retirement or investment plan, you are effectively putting money away for the future. Owning a home of your own means you and your family can set down roots, get to know your community and involve yourselves in it. Discover the pride of home ownership. You can fix the place to suit your particular needs. You can also have pets in your home. As your family grows and moves on to homes of their own, you will have the option of earning extra income by renting out spare rooms or floors, if local bylaws allow. If you are planning to borrow money from a bank or other financial institution, owning your own home is a definite plus when it comes time to negotiate. You may not need …
Buying New vs. Used
Are you in the market for a home? If so, do you see yourself in a cozy character home with ornate fireplaces, or does the image of a brand new home with today’s state-of-the-art technology appeal? Either way, you will find that the rewards of buying your own home are many. The security, comfort and peace of mind you get from home ownership, regardless of your preference for old or new, are well worth the investment. This is an excellent time to consider buying. Attractive mortgage rates, government incentive programs and a wide selection of housing options available through the Multiple Listing Service® (MLS®) make this a good time to buy. Look and compare As you start your search for a home, it is a good idea to enlist the services of a REALTOR. REALTORS have access to the MLS® system and can help narrow the search by providing you with a list of available properties in the price range and location that suits you. Your selection, to a large extent, will be determined by your lifestyle and in most cases becomes a matter of compromise. For instance, you may find an older home that needs some renovation work, but this may not necessarily fit into your budget plans or your hectic schedule if you plan to do a lot of the work yourself. On the other hand, you may find a new home attractive but would have to spend extra money on landscaping and installing some of the amenities that may be a part of the package in an older home. Advantages of an older home Older homes have a number of advantages. You can see exactly what you are getting – structural faults are generally easier to see and can be or have been corrected. The character of …
Your Needs And Wants
The current combination of attractive mortgage rates, home buying incentive programs and a wide selection of homes from which to choose means now is a great time to consider buying that first home or moving to something that better serves your needs. Location, Location, Location Location is one of the most important factors in making any real estate purchase. For example, if you work downtown and you are comfortable with the idea of commuting, you might want to consider buying a home in one of the outlying communities where lots may be more picturesque and peaceful. On the other hand, living closer to the city centre often means a short commute to work and easy access to shops and entertainment facilities. When focusing on location, you will likely want to consider other important factors like the proximity of schools, access to public transit and shopping facilities, etc. Identify features you need and want Once you have decided on the location you prefer, it is time to identify your needs so that you can zero in on the home of your choice. For instance, if your family is outgrowing its present apartment or home, you know you are going to require something bigger and more comfortable – possibly with more bedrooms and a second bath. In addition to your needs, you should also consider your wants – things you would like to have if you can afford them and if they are available. Remember, the time you take to think about these things now will prove invaluable later during your discussions with a REALTOR. Matching needs and wants with available properties With access to the Multiple Listing Service® (MLS®), a co-operative listing system that offers maximum exposure of homes listed for sale, your REALTOR can draw up a customized list of …
Closing Costs: 10 Items To Consider
Property Transfer Tax: This tax is payable on the purchase of all real property in BC. The calculation is based on 1% of the purchase price up to $200,000 and 2% of any amount above $200,000. Most first time buyers are exempt from this if they meet certain criteria. The main criteria are; a) borrower has never owned a principal residence anywhere; b) maximum purchase price of $275,000 in most areas; c) borrow at least 70% of purchase price; d) be a Canadian citizen or permanent resident and residing in BC for a minimum of 12 months. Legal Fees: Legal representation will cost you approximately $750 for a purchase and a mortgage, add another $450 if you are selling a property at the same time. The legal fees to only register a mortgage will be in the $350 range. Your Mortgage Source Consultant can often find a discounted package for you. Interest Adjustment: This is the interest you will pay for receiving your mortgage money before the official start of your mortgage (ie: if your “completion” were on the 23rd of a 30 day month, your interest adjustment would be 8 days interest). Property Tax Adjustment: Generally, property taxes for the calendar year are paid at the beginning of July for the full calendar year. If you purchase a property before July 1st, the seller will be paying you for the days they owned a home from January 1st to completion day. You then are responsible for the entire amount to be paid to the municipality on July 1st. If you purchase a property after July 1st you will pay the seller for the days you own the property from completion day to December 31st, as they will already have paid the entire amount to the municipality on July 1st. …
Checklist For House Hunting
If you are thinking of buying a home in the near future, a REALTOR can provide invaluable help in finding the right home in the right price range in the area you want to live. Through access to the Multiple Listing Service® (MLS®) a REALTOR can give you a customized list of homes for sale that match your needs and wants and budget. A house hunting checklist will help you keep track of the advantages and drawbacks of each home. Ensure the checklist includes the basic information regarding location, asking price, annual property taxes, mortgage terms and any applicable zoning restrictions. Exterior Jot down your impressions of the exterior of the home, noting the lot size and shape, position of the home on the lot (facing north, south, east or west). Note the condition of the landscaping and whether the yard is fenced. Check the condition of the siding and note whether the home has an attached or detached garage. Be sure to take a good look at the roof and note its general condition and age. It’s also important to examine the foundation of the home for any visible cracks or holes. Interior Note whether the home has a separate front hallway. Check the windows to ensure they open and close easily and note the general condition of the doors. The kitchen is an important room in any home, so pay attention to its size, the condition of the appliances, sink, cupboard space, counter tops, flooring, lighting and electrical outlets. Be sure to ask whether any or all of the appliances are included in the sale. It may be that a separate dining room, a family room and fireplace is important to you. Note also the size of the bedrooms and closet space and whether there are any window …
Arranging A Mortgage
Now is a great time to consider buying a home. Interest rates are very attractive and there is a wide choice of homes available to suit just about any budget. Still, it’s most likely you will have to deal with financing and this will mean taking on a mortgage. Sorting through the numerous mortgage options available to today’s homebuyers can be intimidating, but professional help is readily available. Your REALTOR can offer you invaluable information along with your financial institution’s mortgage specialist and other advisors. First, it’s necessary to know which kinds of institutions will lend you money. Banks and trust companies lead the pack, but credit unions and private lenders also offer funds. There is also the option of consulting a mortgage broker. You may also find yourself in a situation where you can assume an existing mortgage held by the seller. Advantages of assuming a mortgage are that you can speed the buying process due to reduced paperwork and save money in lower legal fees and closing costs. A disadvantage is that the current lending rate may be less than that of the assumed mortgage. Different mortgages A number of different mortgage options are available. Under a conventional mortgage, lenders will loan you up to 75 per cent of the appraised value or purchase price of the property (whichever is lower) to a maximum set by government regulation and you must come up with the remaining 25 per cent yourself. If you don’t have the 25 per cent down payment, a high-ratio mortgage may be available which will provide you with up to 95 per cent of the appraised value or purchase price of the property (whichever is lower) to a maximum set by government regulation. The proviso is that high-ratio mortgages must be insured and the cost …
What A Listing Entails
Are you thinking of selling your home? If so, you will need professional help to ensure your home gets maximum exposure and is properly marketed. You will want to enlist the services of a REALTOR to make sure you achieve your goal. The listing is the beginning of a selling process that includes a well-thought-out and detailed marketing plan, accessibility to a wide range of potential buyers and commitment to professional service. Technically speaking, a listing is an authority granted by you to a real estate agent to act as your REALTOR in offering your property for sale, according to the terms and conditions set out in the listing contract. When you list your home with a real estate agency, you are entering into a binding agreement with that firm, so it is important to choose a company and a REALTOR with whom you will be satisfied. To find the right firm and individual, ask friends and relatives for recommendations and try interviewing three REALTORS and ask them about the services that they will offer when they list your home. What You Can Expect Your REALTOR will conduct a thorough inspection of your property and do a comparative market analysis to see what similar homes in the area are selling for. This, along with your individual circumstances, will help you determine a suitable price range for your home. You will also decide how long the listing will be. Placing your home on the Multiple Listing Service® (MLS®) gives it maximum exposure in today’s marketplace because it ensures details about your home are shared with all other REALTORS in the area. Your REALTOR will ask you for information on taxes, surveys, title deed and the mortgage, if any – all of which is important to potential buyers – and will tell …
Does It Make Sense To Use A Realtor?
If you have been thinking about selling your home, perhaps you have been toying with the idea of trying to sell it yourself to save paying a commission to a REALTOR. However, when you consider the amount of time needed to market your home along with the costs of advertising and other incidentals, you may be surprised to discover that not only are you unlikely to save much, it will also likely take much longer to sell your home privately. There is also the chance that you may not get as much for your home. Consider also all the documentation, negotiation, and legalities involved in selling a home. It is a tremendous responsibility to single-handedly manage a transaction involving what is probably the largest purchase you have ever made. Is your time valuable? You will have to consider how much your time is worth and whether you are prepared to sacrifice much of it to show your home to potential buyers. Keep in mind that without the help of a trained REALTOR you will not necessarily be able to distinguish the serious buyers from people who are merely browsing. Greater Exposure You want to ensure that the maximum number of potential buyers learn about your home. That’s why it makes sense to work with a REALTOR. REALTORS have access to the Multiple Listing Service® (MLS®) system. MLS® and REALTOR service offer you a tremendous marketing combination. When a REALTOR lists your home on MLS® it gives your home maximum exposure to all other REALTORS in the area. As most buyers also work with a REALTOR, this ensures exposure to a broad range of interested people. Objectivity For most people, selling a home is an emotional experience and you will not necessarily be as objective as a REALTOR would be about …