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D’Arcy Harris Real Estate Update December 12, 2004
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This month, Vancouver Magazine put out their list of the top 50 most powerful men and women in Vancouver. And who was #1? A realtor by the name of Bob Rennie of Rennie Marketing Systems. I think Bob said it best when he said “I should be number 48!”, but at the same time, he is symbolic of the real estate market in the city, where people start lining up at 2 am for condos in Yaletown. Now whether he should have been ahead of Jimmy Pattison is a conversation for another time…
Also in Vancouver Magazine, a look at one of Vancouver’s oldest neighbourhoods, Strathcona, and why it’s a great buy right now. I’ve put together some listings from that area that you may want to see. Just scroll down to Today’s Real Estate Listings.
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Buy of the Week: Investment Buy
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One of my clients was able to get an accepted offer on a Duplex with 2 unauthorized suites (a fourplex!). Fully rented, this gem brings in over $3,400 a month. But he is pulling out for personal and financial reasons. This duplex is right in front of a park and is surrounded by beautiful large homes. The price is right, location is great and it’s cash flow positive with a good down payment. I can’t tell you the exact price, only say that there is nothing of this calibre available anywhere in the city at the price we had. Put in some elbow grease and build some sweat equity! Call me for more information.
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Market Tidbit
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Where is the market going? According to a recently released study of the country by RE/MAX:
“In 2005, average price appreciation is expected to be highest in Edmonton (12%), Quebec City (11%), Kelowna (10%), Halifax and Vancouver (8%).”
-Average House Price in Vancouver Set to Top $400,000: RE/MAX , Real Estate Weekly Vol. 11 No. 47
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Real Estate Book of the Week.
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One of the problems with real estate literature is that it’s hard to find a book that really spells it all out for you from the beginning. One such book that I found and read was “The Beginners Guide to Real Estate Investing”. With real life numerical examples, it will help you get a good base of knowledge on which to build. Some of you may be thinking that you’re not investors, and that you just want to buy a home to live in. I like to think that all real estate purchases are an investment that you’ll make money on over the long term. You are an investor!
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Today’s 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! If they don’t load, hit refresh.
Vancouver Lofts:
http://mlslink.mlxchange.com/EmailView.asp?r=1832924440&s=BRC&t=BRC
Vancouver Land:
http://mlslink.mlxchange.com/EmailView.asp?r=836763456&s=BRC&t=BRC
Vancouver Foreclosures: http://mlslink.mlxchange.com/EmailView.asp?r=477595525&s=BRC&t=BRC
This Weeks Area of Interest: Strathcona http://mlslink.mlxchange.com/EmailView.asp?r=891613849&s=BRC&t=BRC
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 to find out more.
Thinking of selling? Find out what the home down the street sold for: http://www.vancouverrealestateinfo.ca/redir.asp?page=gold_findout.asp&t=list
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Real Estate Financing
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From Reed Harris, Mortgage Broker with Canada’s Best Mortgage:
I wanted to let you know that there is a trend that exists in the mortgage business right now. The trend is that lending companies from the States are opening Canadian offices. Why is that good for you? Because American companies are not one of Canada’s big 5 banks, that’s why. They bring with them their 'liberal' lending policies, making available to my clients many options that didn't exist before. In addition, the cost of borrowing is very reasonable, because these companies are new and trying to gain market share quickly...
The most important one of these is the option to purchase with zero down, even if you do not have perfect credit. At our big 5 banks, the lending criteria is very rigid, and anyone who can qualify for zero down probably won't need it! These new, aggressive lenders can make your deal happen and get you into your home sooner. I have prepared a brief report for your convenience, click the link below to have a look.
http://www.realestatefinancing.ca/redir.asp?page=zerodown.asp&t=zerodownmail
PS. While everyone else is sweating the crowds at Wall-Mart, there are great deals to be had in your neighbourhood of choice. Talk to Darcy about the home you want!
Reed Harris, Mortgage Broker CBM Canada's Best Mortgage Corp. www.RealEstateFinancing.ca Phone 604-725-7684 Fax 1-866-358-0372
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From the News
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The Globe and Mail: November housing starts jump; nearing 17-year record: http://www.theglobeandmail.com/servlet/ArticleNews/TPStory/LAC/20041209/RTICKERITEM09/TPBusiness/?query=realestate
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Real Estate Term of the Week
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Lien: A claim by one person on the property of another as security for money owed. Such claims may include obligations not met or satisfied, judgments, unpaid taxes, materials, or labour.
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Contact Info/Subscribe/Unsubscribe/Disclaimer
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Thanks for Reading!
To be removed from future mailings simply reply with REMOVE in the subject line.
I invite you to forward this newsletter on to friends and family. If you would like to sign up to receive it directly, please click here: http://vancouverrealestateinfo.ca/silver_customform.asp
Regards,
D'Arcy Harris
RE/MAX Crest Realty (Westside)
Tel: 604 771 1637
Fax: 604 484 6236
darcyharris@shaw.ca
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Free Quick Over-the-Net Home Evaluation:
http://www.vancouverrealestateinfo.ca/redir.asp?page=homeeval.asp&t=news1
Become a VIP Buyer and Beat Other Buyers to all the New Listings:
http://www.vancouverrealestateinfo.ca/redir.asp?page=vip_buyer.asp&t=news2
FREE Quick Over-the-Phone Mortgage Pre-Approval (Guaranteed Lowest Rates!):
http://www.vancouverrealestateinfo.ca/redir.asp?page=gold_mortgageapp.asp&t=news3
Access FREE Vancouver Real Estate Information at:
http://www.vancouverrealestateinfo.ca/redir.asp?page=default.asp&t=news4
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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Free Quick Over-the-Net Home Evaluation:
http://www.vancouverrealestateinfo.ca/redir.asp?page=homeeval.asp&t=news1
Become a VIP Buyer and Beat Other Buyers to all the New Listings:
http://www.vancouverrealestateinfo.ca/redir.asp?page=vip_buyer.asp&t=news2
FREE Quick Over-the-Phone Mortgage Pre-Approval (Guaranteed Lowest Rates!):
http://www.vancouverrealestateinfo.ca/redir.asp?page=gold_mortgageapp.asp&t=news3
Access FREE Vancouver Real Estate Information at:
http://www.vancouverrealestateinfo.ca/redir.asp?page=default.asp&t=news4
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