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D’Arcy Harris Real Estate Update: May 9, 2005
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This week, I’m keeping it short and sweet. Check out the listings, and if you see any you like, give me a call or email me for more information. Lots of articles and links this week, be sure to check out the Buy of the Week.
Enjoy!
D'Arcy R. Harris
Sutton Group Westcoast Realty
Tel: 604 484 6236
Fax: 604 488 0885
www.VancouverRealEstateInfo.ca
P.S: I have instituted a ‘New Client Appreciation Program’. If you’re thinking about buying a new development, and want to get some cash back, check out my new offer: http://vancouverrealestateinfo.ca/redir.asp?page=gold_customform2.asp&t=ps
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Weekly Real Estate Listings
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These are all the current listing out right now; in fact, some of them are so new they’re not even posted on Realtylink or MLS.ca. Now that’s an advantage most buyers don’t have! You can also receive them directly and beat other buyers, email me for more information…If they don’t load, hit refresh.
Vancouver Lofts: * New Loft Building for Sale *
http://mlslink.mlxchange.com/EmailView.asp?r=1356843722&s=BRC&t=BRC
Investment and Revenue Properties:
http://mlslink.mlxchange.com/EmailView.asp?r=18732693&s=BRC&t=BRC
Vancouver House Foreclosures:
http://mlslink.mlxchange.com/EmailView.asp?r=652859803&s=BRC&t=BRC
Vancouver Apartment Foreclosures:
http://mlslink.mlxchange.com/EmailView.asp?r=809258797&s=BRC&t=BRC
Tired of leafing through hundreds of listings to find what you’re looking for? Would you like to have access to all the new listings that match your home buying criteria, including area, price range and style of home emailed to you directly? This is a free service and will allow you to view only the homes that you're interested in seeing.
Become a VIP Buyer and beat other buyers to all the hot new listings in Vancouver. How does it work? Visit:
http://www.vancouverrealestateinfo.ca/redir.asp?page=vip_buyer.asp&t=list
It’s a sellers market; find out what your home is worth with a free and confidential market evaluation:
http://www.vancouverrealestateinfo.ca/redir.asp?page=homeeval.asp&t=list
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Buy of the Week: Investment Buy
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This is what the listing agent has to say about this place:
“$$$$ generator 4-plex offers 4 suits, rent $2200/month, off-street parking, near New West Downtown yet on private setting. Bring offers. Do NOT disturb tenants. Owners motivated.”
For all you people out there looking for investment property: What more do you need to hear? Call my cell to write an offer: 604 771 1637
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Market Tidbit
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“BC Home Sales Surge in March:
The demand for homes in BC shows no signs of slowing, as sales surged in March. BCREA reports 9,979 homes, worth $3.2 billion, sold on the Multiple Listing Service® in March... “
Read the entire article: http://www.bcrea.bc.ca/news_room/2005-03.pdf
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From the News
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Each month, I publish a series of articles of interest to homeowners- money-saving tips, household safety checklists, home improvement advice, real estate insider secrets, etc. Information that won’t fit in this newsletter, including:
- 9 Buyer Traps and How to Avoid Them
- 10 Questions To Ask When Choosing A Financial Planner
- 24-Hour Loan Approval: 6 Questions Answered
http://www.vancouverrealestateinfo.ca/redir.asp?page=gold_newsletter.asp&t=list
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From Your Mortgage Broker – Reed Harris, CBM
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6 THINGS YOU MUST KNOW BEFORE OBTAINING A MORTGAGE
Mortgage regulations have changed significantly over the last few years, making your options wider than ever. Subtle changes in the way you approach mortgage shopping, and even small differences in the structure of your mortgage, can cost or save you literally thousands of dollars and years of expense.
Whether you are about to buy your first home, or are planning to make a move to your next home, it is critical that you inform yourself about the factors involved.
Industry research has revealed that there are 6 common mistakes that most homebuyers make in mortgage shopping that can have a significant impact on the outcome of this critical negotiation. If handled correctly, these issues could result in a mortgage that will cost you less over a shorter period of time.
1. You can, and should, get pre-approved for a mortgage before you
go looking for a home.
Pre-approval is easy, and can give you complete peace-of-mind when shopping for your home. As a Mortgage Broker, I can provide you with written pre-approval at no cost and no obligation, and it can all be done quite easily over-the-phone. More than just a verbal approval, a written pre-approval is as good as money in the bank. It entails a completed credit application, and a certificate which guarantees you a mortgage to the specified level when you find the home you're looking for.
2. Know what monthly dollar amount you feel comfortable
committing to.
When you discuss mortgage pre-approval with me, we’ll find out what level you qualify for, but also pre-assess for yourself what monthly dollar amount you feel comfortable committing to. Your situation may give you a pre-approval amount that is higher (or lower) than the amount of money you would want to pay out each month. By working back and forth with me to determine what this
monthly amount is, and what value of home this translates into at today's rates, you won't waste time looking at homes that are not in your price range.
3. You should be thinking about your long-term goals, and expected situation, to determine the type of mortgage that will best suit your needs.
There are a number of questions you should be asking yourself before you commit to a certain type of mortgage. How long do you think you will own this home? What direction are interest rates going in, and how quickly? Is your income expected to change (up or down) in the near term, impacting how much money you can afford to pay to your mortgage? The answers to these and other questions will help you determine the most appropriate mortgage you should be seeking.
4. Make sure you understand what prepayment privileges and
payment frequency options are available to you.
More frequent payments (for example weekly or biweekly) can literally shave years off your mortgage. Simply by structuring your payments so that they come out more frequently, will significantly lessen the amount of interest that you will be charged over the term. For the same reason, authorized prepayment of a certain percentage of your mortgage, or an increase in the amount you pay monthly, will have a major impact on the number of years you will have to pay and could shorten your payment term considerably. These two payment options can cut years off your mortgage, and save you thousands of dollars in interest. However, not every mortgage has these prepayment privileges built in, so make sure you ask the proper questions.
5. Ask if your mortgage is both portable and/or assumable.
A portable mortgage, where available, is one that you can carry with you when you buy your next home and avoid paying any discharge penalties. This means that you will not have to go through the entire mortgage process again unless you are making a move up to a much more expensive home.
An assumable mortgage is one that the buyer for your home can take over when you move to your next home. This can be a very powerful tool at the negotiating table making it much easier and more desirable for a buyer to buy your home, and again saves you any discharge penalties.
6. You should seriously consider dealing with a Mortgage Expert.
Consider dealing only with a professional who specializes in mortgages, whether you call me or not. Enlisting their services can make a significant difference in the cost and effectiveness of the mortgage you obtain. For example, they can make the process faster thereby avoiding costly delays. There is no cost or obligation to enquire, and it could save you thousands!
I hope to hear from you soon,
Reed M. Harris,
Canada's Best Mortgage Corp.
Phone: 604-725-7684
Toll Free: 1-866-369-3532
Fax: 1-866-358-0372
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Real Estate Term of the Week
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TENANCY IN COMMON:
A form of concurrent ownership of property between two or more persons, in which each has an undivided interest in the whole property; frequently found when the parties acquire title by descent or by will.
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Contact Info
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I supply this information to you free of charge and without obligation with the hope that when you decide to buy or sell your home, you’ll call me to help make it a reality. If I do all this for free, imagine what I do when we’re working together!
I invite you to forward this newsletter on to friends and family.
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If another person has forwarded this issue to you, and
you would like to subscribe yourself, go to the following link:
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Thanks for Reading!
D'Arcy R. Harris
Sutton Group Westcoast Realty
Tel: 604 484 6236
Fax: 604 488 0885
www.VancouverRealEstateInfo.ca
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Quick Over-the-Net Home Evaluation:
http://www.vancouverrealestateinfo.ca/redir.asp?page=homeeval.asp&t=list
Become a VIP Buyer and Beat Other Buyers to all the New Listings:
http://www.vancouverrealestateinfo.ca/redir.asp?page=vip_buyer.asp&t=list
Access Vancouver Real Estate Information at:
http://www.vancouverrealestateinfo.ca/redir.asp?page=default.asp&t=list
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If your property is currently listed with another broker, or if you are currently buying with another broker, please disregard this email. I do not compete with other brokers, I work with them. This e-mail transmission may contain information that is proprietary, privileged and/or confidential and is intended exclusively for the person(s) to whom it is addressed. Any use, copying, retention or disclosure by any person other than the intended recipient or the intended recipient's designees is strictly prohibited. If you are not the intended recipient or their designee, please notify the sender immediately by return e-mail and delete all copies. This entire email is an opinion and should be treated as such. Investing in general carries significant risk. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. This means that just because a particular investment worked in the past does not mean, in and of itself, that the same indicators will cause a similar profitable effect.
WE MAKE NO REPRESENTATION OF CLIENT PROFITS.
Unfortunately we cannot guarantee you profits. There are no guarantees of profits in real estate or in any other investment for that matter. In fact, in many cases customers suffer a loss of all or part of their investment dollar. INVESTORS CAN AND DO LOSE MONEY. Every trade produces a winner and a loser. Money is not created or destroyed, it just changes ownership. If investing will alter your style of living in any manner to the worse, do not invest. The information contained in this report is a statement of opinion and information contained therein is subject to change without notice. The information has been obtained from sources believed to be reliable but is not guaranteed as to its accuracy and completeness. Charts and graphs are the work product of third parties, and should not be relied upon by investors or others in evaluating market conditions. They are provided to you with a specific understanding that the author makes no warranty or guarantee that the information or figures contained therein are accurate or correct. Moreover, past results are not necessarily indictable of future results. Those using the information contained herein for reading purposes are responsible for their own actions. This is not to be constructed as an offer to sell or a solicitation to buy anything whatsoever. No claim is made that any recommendation contained herein will be profitable or that utilizing such recommendation will not result in loss. Investing is speculative and you should carefully review your plan and speak with your financial advisor or licensed advisor before investing. Properties are offered for sale to qualified purchasers without regard to the prospective purchaser's race, color, religion, sex, handicap, familial status, sexual orientation, or national origin.
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Quick Over-the-Net Home Evaluation:
http://www.vancouverrealestateinfo.ca/redir.asp?page=homeeval.asp&t=list
Become a VIP Buyer and Beat Other Buyers to all the New Listings:
http://www.vancouverrealestateinfo.ca/redir.asp?page=vip_buyer.asp&t=list
Access Vancouver Real Estate Information at:
http://www.vancouverrealestateinfo.ca/redir.asp?page=default.asp&t=list
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