CMHC Green Home

Energy-efficient homes can be linked to increased comfort and healthier living while improving energy efficiency reduces greenhouse gas emissions and lowers the cost of owning and maintaining your home.

CMHC Green Home offers a premium refund of up to 25% to borrowers who either buy, build or renovate for energy efficiency using CMHC-insured financing.

For more information click here.

 

Montrose Square

Andrea and I are excited to present an investment opportunity: Montrose Square, Port Coquitlam’s Newest Recreational Property.

These are 1, 2 and 3 BR condos and prices are attractive, starting from the low 300’s.  Completion is late 2019.

For the investor, the developer (Quantum Properties) is offering:

Two Years of Guaranteed Rent 

And 

Two Years of Free Property Management 

…not to forget incredible potential for capital appreciation.

Out client, who is developing the project, has offered us a very limited amount of premium units in addition to priority access to the launch – and it’s only available through us.

The date of the event is this Sunday, Sept 10, 2017.

Some additional information is attached for your review. If you need more information email: rick@rickorford.com

Rick & Andrea

Sales and Listings Stats Update as of March 19

Sales and listings stats are attached as of March 19, 2017. March has shown the biggest increase in home sales so far since the spring of 2016. While there is still a lack of new listings coming on market, sales are on the rise. In Greater Vancouver we are likely to see close to 3,400 sales, which would be the highest monthly sales amount since June 2016. New Listings are on the rise as well, but well below the pace of last year. With only 4,800 new listings projected for March this year, it will be 25 per cent below March 2016. East Vancouver and Richmond are showing the biggest gains in home sales with an increase of over 75% compared to their levels in the fall of 2016. The strength of the market continues to be in the apartment and townhouse segment but there are signs of improvement in the detached market. Here is a summary of the activity so far:

Greater Vancouver – 1,999 Units Sold so far in March 2017 and should finish with close to 3,400 sales compared to 2,461 units sold in February 2017. Total New Listings so far in March 2017 are 2,732 and should finish with 4,800 compared to 3,765 in February 2017. Total Active Listings are at 8,124 (8,226 at the same time last year). Sales To Listings Ratio is at 73% compared to 65% in February 2017.

Vancouver West – 317 Units Sold so far in March 2017 and should finish with close to 560 sales compared to 505 units sold in February 2017. Total New Listings so far in March 2017 are 454 and should finish with 830 compared to 692 in February 2017. Total Active Listings are at 1,349 (1,387 at the same time last year). Sales To Listings Ratio is at 70% compared to 73% in February 2017.

Vancouver East – 226 Units Sold so far in March 2017 and should finish with close to 400 sales compared to 229 units sold in February 2017. Total New Listings so far in March 2017 are 285 and should finish with 485 compared to 406 in February 2017. Total Active Listings are at 945 (603 at the same time last year). Sales To Listings Ratio is at 79% compared to 56% in February 2017.

North Vancouver – 147 Units Sold so far in March 2017 and should finish with close to 250 sales compared to 216 units sold in February 2017. Total New Listings so far in March 2017 are 172 and should finish with 290 compared to 296 in February 2017. Total Active Listings are at 385 (370 at the same time last year). Sales To Listings Ratio is at 85% compared to 73% in February 2017.

West Vancouver – 54 Units Sold so far in March 2017 and should finish with close to 90 sales compared to 57 units sold in February 2017. Total New Listings so far in March 2017 are 113 and should finish with 190 compared to 151 in February 2017. Total Active Listings are at 456 (407 at the same time last year). Sales To Listings Ratio is at 48% compared to 38% in February 2017.

Richmond – 299 Units Sold so far in March 2017 and should finish with close to 500 sales compared to 338 units sold in February 2017. Total New Listings so far in March 2017 are 401 and should finish with 670 compared to 505 in February 2017. Total Active Listings are at 1,169 (1,235 at the same time last year). Sales To Listings Ratio is at 75% compared to 67% in February 2017.

First-time buyer’s interest-free down-payment program

The new BC Home Owner Mortgage and Equity (HOME) Partnership program will begin accepting applications on January 16, 2016.

For a first-time homebuyer who has saved a down payment:

  • The program offers a down-payment loan of up to 5% of a home’s purchase price, up to $37,500, on a home with a maximum price of $750,000.
  • The loan matches a buyer’s down payment and is interest-free and payment-free for five years.
  • After five years, the buyer can either repay the loan or make monthly payments at current interest rates.
  • Like most mortgages, the loan is due after 25 years.

To qualify for the program, a homebuyer, with a registered interest on title, must reside in the home and be:

  • a Canadian citizen or permanent resident for at least five years;
  • a resident of BC for at least one year immediately preceding the date of application; and
  • a first-time buyer who has never owned an interest in a residence anywhere in the world.

The home buyer must also:

  • use the property as his or her principal residence for the first five years;
  • obtain a high-ratio insured first mortgage on the property for at least 80% of the purchase price; and
  • have a combined, gross household income of all individuals on title not exceeding $150,000.

To submit an online application once the program begins, a buyer will need the following four documents:

  1. proof of status in Canada and residency in BC;
  2. secondary identification (must include a buyer’s photo);
  3. proof of income and tax filings; and
  4. insured first mortgage pre-approval.

BC Housing and the Mortgage Brokers of BC are looking for input from REALTORS® on the HOME Partnership at an info session on January 12 in Richmond – learn more and register for free by clicking here.

For additional information, check out these:

(Source: Real Estate Board of Greater Vancouver)