Multi-million dollar row. One of the largest and most exclusive addresses in the area. Come see this well maintained 3 bdrm home. Build, live, rent or hold. Fantastic condition but many lot value. Newer roof (10 yrs old) newly tiled kit, side entrance and stainless steel new fridge/stove/washer/dryer/dishwasher. New light fixtures throughout and new laminate flrg in den and new ext paint (2010). One of the most livable and desirable addresses in Richmond. South Arm Park and Community Center and Hugh McRoberts S.S. nearby. Come see the best lot of the lots and imagine the possibilities. 9378sqf lot. No work required (continuosly owner occupied) to hold now as you plan the dream home for tomorrow. Flexible dates. Act fast!

Welcome to the highly anticipated Beasley by Amacon. Brand new and move-in ready. This true South side unit gleams with upgraded hardwood thru-out. Lots of winter sun with incredible city views from your bedroom or solarium. The heated and enclosed solarium can double as office space or den. Huge insuite storage/laundry & oversized private parking spot on P3 level + storge unit on P1. Floor to ceiling windows for maximum light on the best side. Heated floors in bathroom, S/S appointed kitchen w/ full size fridge and stone countertops. Concierge & well appointed fitness facility/party room & 8th floor Ent Room + Vancouver's First Dog Park Amenity Terrace w/ Ent Lounge. Open House: Sun, Nov 20th, 2-4 PM.

Welcome to the award-winning & exceptional "Queens Park Place" built by Bosa. This quiet & cozy 55+ unite boasts a bright & beautiful layout facing the tree-lined S/E exposure for maximum sunlight in winter & cool & shaded in the summer. You'll love the warmth & character of this ideal unit featuring all the crcature comforts one can ask for: in-suite laundry, gas fireplace, balcony access through both your bedroom & living room. Fabulous amenities include guest suite, workshop, rec room & meeting facility, exercise room, greenhouse & garden. Steps away from transit, Queens Park, Canada Games Pool & shopping. Exceptional quality, condition & value. An A+ must-see!

LOOK NO FURTHER! THIS ONE HAS IT ALL. Location & lifestyle at no compromise. This luxurious penthouse suite at Cora Towers boasts sweeping views of Mount Baker & the Fraser River. An open & spacious floor plan w/a split bedroom design. Granite counters, stainless steel appliances, 2 full bathrooms, floor to ceiling windows throughout, 2 separate walkout private covered patios for year round enjoyment, 2 parking spaces & 1 storage locker. Exceptional central tri-cities location close to skytrain, SFU & Hwy 1. Priced sharply to sell! Hurry & call, book & write on one of the most luxurious at a down to earth price Tri-Cities today!

It is essential you do your homework before you begin. Learn from the experiences of others, do some research. Of course, with so many details involved, slip-ups are inevitable. But be careful: learning from your mistakes may prove costly. Use the following list of pitfalls as a guide to help you avoid the most common mistakes.

1. Searching for houses without getting pre-approved by a lender:
   Do not mistake pre-approval by a lender with pre-qualification. Pre-qualification, the first step toward being pre-approved, will point you in the right direction, giving you an idea of the price range of houses you can comfortably afford. Pre-approval, however, means you become a cash buyer, making negotiations with the seller much easier.

 

2. Allowing “first impressions” to overly influence your decision:
   The first impression of a home has been cited as the single most influential factor guiding many purchasers’ choice to buy. Make a conscious decision beforehand to examine a home as objectively as you can. Don’t let the current owners’ style or lifestyle sway your judgment. Beneath the bad decor or messy rooms, these homes may actually suit your needs and offer you a structurally sound base with which to work. Likewise, don’t jump at a home simply because the walls are painted your favourite colour! Make sure you thoroughly the investigate the structure beneath the paint before you come to any serious decisions.

 

3. Failing to have the home inspected before you buy:
   Buying a home is a major financial decision that is often made after having spent very little time on the property itself. A home inspection performed by a competent company will help you enter the negotiation process with eyes wide open, offering you added reassurance that the choice you’re making is a sound one, or alerting you to underlying problems that could cost you significant money in both the short and long-run. Your Realtor can suggest reputable home inspection companies for you to consider and will ensure the appropriate clause is entered into your contract.

 

4. Not knowing and understanding your rights and obligations as listed in the Offer to Purchase:
   Make it a priority to know your rights and obligations inside and out. A lack of understanding about your obligations may, at the very least, cause friction between yourself and the people with whom you are about to enter the contract. Wrong assumptions, poorly written/ incomprehensible/ missing clauses, or a lack of awareness of how the clauses apply to the purchase, could also contribute to increased costs. These problems may even lead to a void contract. So, take the time to go through the contract with a fine-tooth comb, making use of the resources and knowledge offered by your Realtor and lawyer. With their assistance, ensure you thoroughly understand every component of the contract, and are able to fulfill your contractual obligations.

 

5. Making an offer based on the asking price, not the market value:
   Ask your Realtor for a current Comparative Market Analysis. This will provide you with the information necessary to gauge the market value of a home, and will help you avoid over-paying. What have other similar homes sold for in the area and how long were they on the market? What is the difference between their asking and selling prices? Is the home you’re looking at under-priced, over-priced, or fair value? The seller receives a Comparative Market Analysis before deciding upon an asking price, so make sure you have all the same information at your fingertips.

 

6. Failing to familiarize yourself with the neighbourhood before buying:
   Check out the neighbourhood you’re considering, and ask around. What amenities does the area have to offer? Are there schools, churches, parks, or grocery stores within reach? Consider visiting schools in the area if you have children. How will you be affected by a new commute to work? Are there infrastructure projects in development? All of these factors will influence the way you experience your new home, so ensure you’re well-acquainted with the surrounding area before purchasing.

 

7. Not looking for home insurance until you are about to move:
   If you wait until the last minute, you’ll be rushed to find an insurance policy that’s the ideal fit for you. Make sure you give yourself enough time to shop around in order to get the best deal.

 

8. Not recognizing different styles and strategies of negotiation:
   Many buyers think that the way to negotiate their way to a fair price is by offering low. However, in reality this strategy may actually result in the seller becoming more inflexible, polarizing negotiations. Employ the knowledge and skills of an experienced realtor. He or She will know what strategies of negotiation will prove most effective for your particular situation.

Call Seyon today at 604-724-9999 for your free no obligation expert consultation to get you and your family moving in the right direction. I'll negotiate the best price and terms for investment and for life.

• Tidy up your front entrance.
• If it is at all worn, paint or replace your front door.
• Consider pet or food smells in your home and do your best to make them pleasant (see rule #4 below).

• Replace faded, peeling or torn wallpaper.
• Repair or replace worn woodwork.
• Paint a neutral color over walls that look old or were previously painted too boldly.

• A dark home just isn’t as inviting, so open the curtains and blinds.
• Turn on all lights during evening showings.
• Replace any steamed up double pane windows or old-looking tinted windows.

• When a buyer sees things that need fixing, they see dollar signs, and begin to wonder what else might need work that they can’t see. Be sure to repair any loose knobs, sticking doors and windows, warped cabinet drawers, broken light switches and other minor flaws. These defects detract from the value of the house.

• Remove all unnecessary articles from your closets and garage. Spacious rooms and large storage spaces are a great selling feature.
• Consider having a garage sale to dispose of unwanted items.
• Look into renting storage for larger items or boxes of things you aren’t ready to part with but don’t use every day. Include your favorite trinkets and excess ornaments. They won’t have the same sentimental value to potential buyers and only distract from your home.
• Look around your home to determine where you can reduce a cluttered appearance.

• Keep stairways and hallways clear.
• Don’t overload electrical outlets.

• Clean windows and appliances.
• Steam clean or replace carpets.
• Glue back any peeling wallpaper.
• Remove ashtrays and throw out the trash. Give the buyer the impression that your home has been well maintained.

• Check and repair caulking in bathtubs and showers.
• Clear up any mildew stains.
• Display fresh, clean towels and make the room attractive.
• Spray a light fragrance and make the room pleasant smelling.

• Remove excess furniture.
• Make the beds with clean, attractive bedspreads.
• Consider laundering the curtains.

• Not everyone shares your sense of humor or political views. Remove any signs, posters or art that might be controversial or offensive to prospective buyers.
• Neutralize bold and trendy wall colors.

Your Renovated and Redesigned dream getaway for your daily R&R. A perfect layout to enjoy the stunning views. Ideal location for family, close to highway, transit, schools and recreation. Entertainer's dream home boasting extra spacious roo ms and bedrooms, with a new stainless steel fridge and washer. New hardwood throughout inside and generous backyard boasting trees with mountain & water views. Must be seen to appreciate the extensive renovations from top to bottom. 3 Bedroom suite potential (private/separate entrance) downstairs. Huge 2-car port with extra storage and work areas. Too many features, updates and renos to mention. Book to see easily the best house & value in Mary Hill. Big enough for 2 families! Book it to see it!

Multi-million dollar alley of dream homes. One of the most premier and exclusive addresses in the Broadmoor area. Come see this well maintained 3 bdrm home. Stay or build now or later. Newer roof (10 yrs old), newly tiled kitchen, side entr ance and hardwood floor, new fridge/stove/washer/dryer/dishwasher. New light fixtures throughout and new laminate flooring in den and new exterior paint (2010). One of the most livable and desirable addresses in Richmond. South Arm Park and Community Center and Hugh McRoberts S.S. neaby. Come see the best lot of the lots and imagine the possibilities! 9378 sq ft lot. Call to book private viewing today. Please do not disturb owner or neighbours. First Open House: Sat, April 16th, 2:30-4:30 PM.

Your private oasis with a generous layout and stunning views. Ideal location for family, close to highway, transit, schools and recreation. Entertainer's dream home boasting extra large living rooms and bedrooms, brand new roof (with 30-year warranty) and brand new stainless steel appliances and designer colours. Hardwood throughout inside and huge private and spacious backyard with cherry and magnolia trees. Must be seen to appreciate the extensive renovations and updates. Double- paned windows, oak kitchen downstairs with suite potential (private/separate entrance). Huge 2-car garage with extra storage and work area. Too many features and updates to mentions. Book to see the best house and value in Mary Hill. Priced to move you! PUBLIC OPEN: Sunday April 17th from 2-5 PM.

Rare 17,682 sqft priv oasis just steps fr Newport Village. The moment you enter this custom reno'd hme, spectacular view will capture your attn. A wall of wndws lures you to the views of the creek & greenspace. Design inspired feat thru-out w/custom millwork, des paint & B/I cab. Great rm is ample w/rich hickory H/W flrs, gas F/P & adjoining kit has rich wood cabs, venetian plaster flrs, concrete counter & modern SS appls. Easy entertaining w/raised bar seating 8. A conv bath off kit feat steam shower w/frameless glass drs, contemporary fixts & heated flr. Den w/added strge & a bdrm w/Murphy bed located on mn. Upstairs master suite is spacious w/custom lighting, jetted tub & vanity. Walk-out bsmt has 2 bdrms, stylish bath, ldry & deluxe rec rm w/pot lights, bar fridge & Murphy bed. Feats also incl crown mldgs, B/I speakers, sec cams, auto blinds in great rm, stamped concrete paths, dble gar, carport, strge & wksp + loads of prkg. Decks, patios & grassy lawns invite you outside to enjoy the sounds of nature

More info at; www.feyonkim.com

In a new forecast, Scotiabank economists, like others, say the rebound that began midway through last year has lost "considerable momentum," notably in major industrialized countries where government stimulus is expiring and consumers are cutting back. Central banks will in turn hold the line on the exceptionally low interest rates used to fight the recession.

"Monetary policy in this environment is expected to remain exceptionally accommodative well into 2011, keeping short-term borrowing costs at essentially 'rock-bottom' levels for the foreseeable future to help bolster market liquidity, facilitate refinancing activity, and promote borrowing-to-buy," the report says. "Japan recently lowered its benchmark rate to 'zero,' and undertook another round of government bond purchases. Similar stories are likely to play out in the United States and the United Kingdom where stumbling economies, fiscal restraint, and deflationary concerns have surfaced."

Scotiabank projects that the Bank of Canada will hold its benchmark overnight rate at 1 per cent until the third quarter of next year, and then hike by one-quarter of a percentage point, followed by a half-point increase in the fourth quarter.

Economists believe Friday's jobs report from Statistics Canada, which showed the labour market cooling somewhat, will stay the Bank of Canada's hand. It next meets Oct. 19.

"Renewed solid job gains will be tough to come by in the months ahead amid the lacklustre pace of underlying growth," said BMO Nesbitt Burns deputy chief economist Douglas Porter. "This solidifies the view that the Bank of Canada is now on hold. "

The Federal Reserve will remain near zero until the fourth quarter of 2011, followed by a projected quarter-point hike, the European Central Bank will stay at 1 per cent until it brings a quarter-point increase in the fourth quarter, while the Bank of England will stay at 0.5 per cent until the third quarter, then raising by a quarter-point, and another quarter point in the following quarter, Scotiabank predicts.

 

1. Selection, selection, selection. 
Regardless of price range, there are plenty of houses from which to choose. There's a great selection of attached homes, condos and townhouses. You can find large lots, small lots, and a lot that will accommodate your boat or RV. You have many options. When resale inventories are low, buyers are forced to make compromises. Not today.

2. No bidding wars.
In 2005, we knew one family who made offers on 10 homes. They lost the first nine to the feeding frenzy that existed in the market - other buyers bid the properties up substantially from the original listing prices. There were even escalation clauses where buyers authorized their agents to outbid other offers by thousands of dollars. There's no competitive bidding in the buyer's market of today.

3. You can make an offer. 
A few years ago when you made an offer, the only question was how high above the list price you should reach in hopes of being the best offer on the table. Today the sell price vs. list price ratio is about 96 percent. Sellers won't be insulted if you "make them an offer they can't refuse."

4. Patience is tolerated. 
In the hot seller's market, everything was rushed. You had to find a house before other buyers did, then hurry up and make the offer. Today, buyers can take their time. They can look at several homes and think about their decision for a while.

5. Due diligence is welcomed. 
In this market, a buyer is encouraged to obtain a home inspection, termite inspection and appraisal. In 2005, many buyers waived these contingencies in order to gain an advantage.

6. Plenty of specs.
Buyers sometimes had to play games if they wanted a newly built home. There were lotteries and waiting lists. Some buyers even slept in their cars in order to get to the head of the line.

7. Repair requests are accepted. 
After buyers complete a home inspection, they're allowed to submit a repair request to the sellers. But in the past, sellers often insisted the home be sold as-is. Many times, there were back-up buyers waiting for the primary buyers to upset the sellers, whose home was increasing in value almost daily.

8. Few, if any investors.
It's estimated that one third of all sales in 2005 were to investors. These buyers caused the market to inflate and affordability to decline. Mortgage fraud became commonplace. It's a great time to buy without having to compete with hundreds of prospective landlords.

9. Location, location, location.
Today's buyers can find homes closer to work. In this market, reasonably priced homes are within biking or walking distance to schools, rapid transit lines and relatives.

10. Real financing is available.
The "wink, wink" zero-down, no-doc, adjustable, sub-prime loans are gone. Fixed rates are back. FHA financing, first-time homeowner bond programs, and special loans for teachers or police officers are back in business. The bottom line: It's a great time to buy real estate!

Huge patio and grass area with private entrance. 2 bedroom, 2 bathroom ground floor unit featuring granite countertops, stainless steel appliances and 2 year old building. Enjoy the complex amenities with outdoor pool & hot tub, sauna, exercise room, games rooms, party rooms, and more. Only minutes walk to shopping, transit and Rocky Point Park. One parking stall, no storage locker, pets (2) & rentals (25% and still room) with restrictions.

HST having greater impact on housing market than rising interest rates

TORONTO / VANCOUVER, August 5, 2010 – A survey conducted by Royal LePage Real Estate Services revealed that Ontarians and British Columbians have misconceptions about how the Harmonized Sales Tax (HST) affects real estate transactions. When respondents were asked to provide examples of comments heard from buyers and sellers regarding the HST and its effect on the housing market, almost half of the comments (46.7 per cent) indicated that confusion about HST remains more than one month after its introduction.  Among the most common responses to the survey’s open-ended questions were that many home buyers incorrectly believe HST applies to the sale price of resale properties.

Nearly half (43.9 per cent) of the 765 REALTORS® polled in Ontario and B.C. said the HST that took effect in both provinces July 1 is having the greatest effect on the cooling residential real estate market, compared to just 28.4 per cent who cited rising interest rates as having the greatest effect. In all, more than 86 per cent of respondents said the HST is affecting their business somewhat.

The HST applies to the purchase price of a newly-built home, and fees for services and commissions associated with any real estate transaction, but it does not apply to the purchase price of resale homes.  Resale homes comprise the bulk of transactions in the Canadian housing market, and the majority of agents surveyed by Royal LePage indicated that new home sales account for less than 10 per cent of their business.

"We wanted to understand the impact HST has had since it was introduced, and what we found is that there is a need to better educate home buyers and sellers to ensure they understand when the HST is applicable," said Phil Soper, president and chief executive of Royal LePage Real Estate Services. "According to our REALTORS® who work in B.C. and Ontario communities every day, misconceptions about the HST are having an effect on the market in both provinces."

Nearly one quarter (24.1 per cent) of respondents in the Royal LePage survey said home buyers and sellers have a low level of awareness about how the HST applies to a home sale transaction, while 44 per cent said buyers and sellers are only somewhat aware.

"While we predicted that the prospect of rising interest rates would put a damper on the housing market, our agents are finding that the HST is actually having the greater impact on buyer behaviour, at least in the short-term" said Soper. "REALTORS® are there to help guide buyers and sellers through the often complex negotiation and closing process, so our take-away from this survey is that we need to do more as an industry to educate consumers about the HST."

Results from the Royal LePage Real Estate Advisor Survey, conducted online at the end of July 2010, can be found below.

Survey Results

What impact has the introduction of the HST had on the real estate market in your region?

Significant impact: 36.5 per cent (279 responses)
Some impact: 49.7 per cent (380 responses)
No impact: 5.2 per cent (40 responses)
Don't know: 8.6 per cent (66 responses)

In your opinion, what factor has had a greater impact on the housing market's recent activity?

HST: 43.9 per cent (336 responses)
Rising interest rates: 28.4 per cent (217 responses)
Other: 27.7 percent (212 responses)

Based on your recent interactions with home buyers/sellers, please describe the level of awareness about the impact of HST on real estate transactions?

High level of awareness: 31.4 per cent (240 responses)
Some awareness: 43.9 per cent (336 responses)
Low awareness: 24.1 per cent (184 responses)
Don't know: 0.7 per cent (5 responses)

In the past three months, how often have new or prospective clients (home buyers or sellers) asked you questions about the HST and how it applies to a real estate transaction?

Many questions - I am asked frequently: 57.1 per cent (437 responses)
Some questions - I am asked occasionally: 28.8 per cent (220 responses)
Few questions - I have been asked only a few times: 11.9 per cent (91 responses)
No questions: 2.2 per cent (17 responses)

What percentage of your business is new home sales (as opposed to resale)?

None: 30.7 per cent (235 responses)
Less than 10 per cent of business: 53.9 per cent (412 responses)
11-25 per cent of business: 10.5 per cent (80 responses)
26-50 per cent of business: 2.9 per cent (22 responses)
51-75 per cent of business: 0.9 per cent (7 responses)
76-100 per cent of business: 1.2 per cent (9 responses)

3 bedrooms 2 bath unit with patio, granite countertop kitchen, fitness, recreation, sauna, yoga room as new. No GST.

GREAT VALUE - only 4 year old home with fully fin. walk out bsmt. Total of 2277 s.f., 3 bdrms up + 1 down, 3 full baths. Spacious kitchen with centre island & nook. Family rm off kitchen. Living room with vaulted ceiling and gas f/p. Master features w-in closet and enste. with jetted tub and corner shower. Bsmt. has perfect set up for teenager, nanny or in-laws - huge rec. room w/separate entry, good size bdrm and 4 pce. bath. Additional features: laminate floor in kitchen, nook & fam. rm, alarm system, vac. system, sundeck off family rm, double garage with automatic door opener, fenced yard & more. Balance of warranty still in place. Centrally located near transit, shopping, school and recreation.

Large 2,459 square foot Half Duplex in the popular South Arm Area. Bring your decorating ideas, this home has huge potential. Three bedrooms up with large kitchen & eating area, 2 wood burning fireplaces, huge recreation room with wet bar. 2 full & 1 half bath. Huge lot backing onto green space. Close to William Bridge Elementary & McRoberts Secondary, close to South Arm Park, community centre, Broadmoor shopping center & transportation.

IN DEMAND INCOME GENERATOR in the highly coveted Metrotown area. Show well with new laminate floors and renos in 2005. 3 bedrooms above and 4 below with 2 separate entrances with 2 separate kitchen downstairs w/ separate entrances. 2 full bathrooms upstairs and 3 and 1/2 on the lower level. Fully loaded with warranty with recent renos. Bring your investors and clients to this. Schools, Shopping and Skytrain all within minutes. Hurry on this one!