| | Tuesday, February 16, 2010 New Mortgage Insurance Guidelinesby Shawn Mcdonald and Neil McNiven on Tue, Feb, 16, 2010 11:34 PM
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MORTGAGE INSURANCE RULES ANNOUNCEMENT
This morning, Federal Finance Minister Jim Flaherty announced prudent changes to mortgage insurance rules intended to come into force on April 19, 2010. Our associaton known as CAAMP was actively engaged in the discussions around these changes which are as follows:
1. All borrowers must meet the standards for a five-year fixed rate mortgage even if they choose a mortgage with a lower interest rate and shorter term;
2. The maximum amount one can withdraw in refinancing their mortgage will be reduced to 90% from the current 95% of the value of one's home;
3. Non-owner occupied properties will require a minimum down payment of 20%.
There were no changes to down payment requirements or length of amortizations for owner-occupied residences.
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Thursday, February 11, 2010 Housing Forecastby Shawn Mcdonald and Neil McNiven on Thu, Feb, 11, 2010 12:38 AM
OTTAWA – February 8, 2010 – The Canadian Real Estate Association has revised its forecast for home sales via the MLS® Systems of Canadian real estate boards in 2010, and extended the forecast to 2011.
With Canadian economic growth rebounding from the recession, the unusually severe decline in sales activity in early 2009 is not expected to recur in 2010.... Monday, November 9, 2009 More Info on the HSTby Shawn Mcdonald and Neil McNiven on Mon, Nov, 9, 2009 02:04 PM
British Columbia intends to harmonize its provincial sales tax (Social Services Tax, aka PST) with the Federal goods and services tax (GST) effective July 1, 2010.
The current PST rate in BC is 7%, which, when combined with the GST will result in a harmonized sales tax (HST) rate of 12%.
The implementation of HST in BC will be good for the economy, which will be good for job-seekers and consumers. ... Sunday, November 8, 2009 October Board Sales Statsby Shawn Mcdonald and Neil McNiven on Sun, Nov, 8, 2009 03:04 AM Friday, November 6, 2009 The HSTby Shawn Mcdonald and Neil McNiven on Fri, Nov, 6, 2009 02:00 PM I just updated the info regarding the HST on my website. Follow the like " The HST" . I also set a RSS feed to follow some relevant websites and they will update automatically. Check back often. Friday, October 23, 2009 Market Forecastby Shawn Mcdonald and Neil McNiven on Fri, Oct, 23, 2009 01:47 PM Outlook Sees B.C. House Sales, Prices Increasing
The median price of a B.C. detached house on MLS will rise to $391,000 by next year - up from $369,000 this year - while the median strata price will jump to $345,000, up from $325,000, according to a very bullish B.C. housing market forecast released this week by Central 1 Credit Union. The report sees total housing sales rocketing to a record... Monday, October 5, 2009 The Ridge at Barrington updateby Shawn Mcdonald and Neil McNiven on Mon, Oct, 5, 2009 12:40 PM
Well it has been a busy few weeks up at The Ridge at Barrington. We have had a total of 5 open house days and have had over 100 people through. These homes have had no real negative comments, and the neighbors seem to really like them. We have had several repeat visitors and the they are starting to pick their favorites. With 4 floor plans to choose from and different paint colors the variety... Wednesday, September 23, 2009 Market updateby Shawn Mcdonald and Neil McNiven on Wed, Sep, 23, 2009 06:31 PM As far as the market goes it has definitely been an interesting time. At the end of last year and the beginning of 2009 there was a definite feeling of despair, not only in the real estate market but also in the financial and stock markets. Many thought the world was coming to an end. Those who stayed positive were able to gobble up some pretty good deals on property from those that... Friday, May 22, 2009 Resale housing market continues to recover in Aprilby Shawn Mcdonald and Neil McNiven on Fri, May, 22, 2009 04:15 PM
MLS® home sales activity increased for the third time in as many months in April 2009, according to statistics released by The Canadian Real Estate Association (CREA). The national average price also rose in April, to within short reach of the record levels reached one year ago.
Seasonally adjusted national home sales activity climbed 11.2 per cent... Saturday, March 14, 2009 Grow Op? Here is a good readby Shawn Mcdonald and Neil McNiven on Sat, Mar, 14, 2009 11:55 PM
 Hot Tip Of The Week
Marijuana growing...
14,000 homes in Lower Mainland apparently grow pot.
If you are an owner...with your tenant growing the weed...your property will be destroyed.
Here are ten tips to be safe:
Here are some indications that the property may be intended for use as a grow operation:
- Cash Payments
- Vague and or incomplete applications
- No references or lack of identification...
Wednesday, March 4, 2009 The Rates are Dropping!!!! Again!!!by Shawn Mcdonald and Neil McNiven on Wed, Mar, 4, 2009 10:33 PM Good day,
As expected the Bank of Canada Cut its' Key Rate by Half a Percentage Point.
Three of the major banks have announced their Prime rate drops in coordination with the Bank of Canada to 2.50%
Our Very best 5 year fixed rate today is 4.19%
Our Very best 4 year fixed rate today is 4.09%
Our Very best 5 year variable rate term is Prime (2.50%) Plus .80% or 3.30% today!
The Bank of Canada reduced... Thursday, November 20, 2008 2 more new townhouses in North Nanaimoby Shawn Mcdonald and Neil McNiven on Thu, Nov, 20, 2008 11:03 AM Here are 2 more townhomes in North Nanaimo/ Pleasant Valley. Offering over 1575sqft and 3 bedrooms with 3 bathrooms. They are brand new and listed for $299,900. New picyures coming tomorrow.
Look for the open houses over the nex few weekends!! Tuesday, October 14, 2008 Happy Thanksgiving!!by Shawn Mcdonald and Neil McNiven on Tue, Oct, 14, 2008 05:20 PM Another Thanksgiving has come and gone again. I hope you are not too sleepy or tired from the big turkey day yesterday. The Canadian markets opened with a bang today and stayed strong all day long. Nice for a change!!
Any way with open houses at Turner road all weekend I had quite a bit of traffic. We have all 3 units available and are offering quite a package for $348,800. 
Come by any... Friday, October 10, 2008 The First One!!by Shawn Mcdonald and Neil McNiven on Fri, Oct, 10, 2008 12:12 AM Well, this is our first Blog entry. Neil and I will be making our own entries from time to time, but here is the start.
The market has been a bit more quiet than ususal over the last 3 months, but things are looking up. The Sales climbed in our monthly stats for the first time since June. I mean, they havn't dropped!! In fact we posted a 25% increase over the month of August and October looks... |
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