Andrew & Janine Hudson

Apartment For Sale in Commercial Drive

2008-07-12T19:44:00Z

Gorgeous Penthouse - Close to So Much.

• 1,106 sq. ft., 2 bath, 2 bdrm apartment "Penthouse with Turret Den" - MLS® $449,000 - New Price!

Commercial Drive, Vancouver - Gorgeous! 2 Bedroom 2 Bath and den. The den is actually a stunning turret room with big windows and mountain views! Laminate floors, gas fireplace, designer paint colours, 2 balconies and vaulted ceilings make this home unique, practical and very desireable! In suite laundry, walk-in closet, plenty of storage, 2 parking spots! All this is walking distance to Commercial Dr., Trout Lake, Skytrain and only a 10 min drive to the city core. Just move right in. This is truly the best of all worlds!

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3 Story For Sale in Royal Heights

2008-07-12T05:23:00Z

Private Park-Like Setting

• 4,158 sq. ft., 5 bath, 7 bdrm 3 story "Two Income Suites!" - MLS® $609,000 - Greatest Value in Class!

Royal Heights, Surrey - A peaceful home in the trees surrounded by park with stunning views of the mountains, river and city lights! Over 4000 square feet of living space with 7 bedrooms, 5 bathrooms, Double fireplace, 2 sundecks, as well as a custom designed, Zen-like, in the trees, wooden patio! You have a private cul-de-sac location with Tom Hopkins Park beside you and a ravine out the back. This home is conveniently located with easy access to The Port Mann, Patello and Alex Fraser Bridges. Your main floor has an updated kitchen with brand new granite countertops, new laminate flooring and nearly new appliances. It boasts a spacious open floor-plan with vaulted ceilings, skylight and bright, picturesque views from every window. The second floor has 1750 Square feet of living space with large airy rooms and a private, very spacious and covered deck. The third floor is a very convenient mortgage helper or extremely private recreation room: no neighbours! All 3 floors have their own separate entrance. All this is on 9000 square foot lot. This home is spotlessly clean and lovingly renovated; unique and beautiful. Come make it your own!

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Value Added - Through Price Adjustment on 11758 100th Avenue in Royal Heights

2008-07-12T05:23:00Z

Royal Heights, Surrey - Announcing a price adjustment on 11758 100th Avenue, a 4,158 sq. ft., 5 bath, 7 bdrm 3 story "Two Income Suites!". Now MLS® $609,000 - Greatest Value in Class!.

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Owe!

2008-07-09T23:00:00Z

Ottawa Rethinks Mortgage Rules

KEVIN CARMICHAEL

Globe and Mail Update

July 9, 2008 at 6:07 PM EDT

OTTAWA — The federal government, fearful of a U.S.-style housing bubble, has pledged steps aimed at keeping riskier borrowers in their rental units and away from homes they probably can't afford.

Canada's housing agency will no longer be allowed to guarantee loans with amortization periods longer than 35 years, a move that likely will end the surge in 40-year mortgages, popular because they allowed borrowers to reduce their monthly payments.

Prime Ministers Stephen Harper's Conservative government said Wednesday Canada Mortgage and Housing Corp. will also require a minimum down payment of 5 per cent to get government insurance.

Finance Minister Jim Flaherty and Bank of Canada Governor Mark Carney both expressed concern about the surge in 40-year mortgages over the past year, suggesting the loans were feeding a bubble.

The U.S. housing market collapsed last fall amid record defaults by homeowners who got loans during a period of easy credit at the start of the decade. U.S. officials say their housing problems continue to persist, and many economists say the market's woes have driven the world's largest economy into recession.

“Today's announcement marks a responsible and measured approach by the government to ensure Canada's housing market remains strong and to reduce the risk of a U.S.-style housing bubble developing in Canada,” the Finance Department said in a news release.

The government also said borrowers will require a minimum credit score of 620 to qualify for a CMHC insured mortgage, and that it will demand stronger documentary evidence that borrowers can pay their loans.

The changes take effect Oct. 15 with few exceptions, Finance said in the release.

Economists at Scotia Capital in Toronto said the measures would have a limited impact on Canada's economy, which has gotten a boost from record home buying.

“The changes are more about optics, in comparison to a fairly modest impact upon the economy, housing markets or financial markets,” Derek Holt and Karen Cordes wrote in a note to clients.

Currently, home buyers can get a CMHC-backed mortgage – even one with an amortization period of four decades – with no money down. Such “financial innovation” only came to the market toward the end of 2006, and the “marketplace has been quick to adopt these innovations,” Finance said in a background document explaining the changes.

Still, the government sought to play down the impact of its housing measures on home buyers, while emphasizing that the growth in Canada's housing market is more boom than bubble.

By way of example, the Finance Department said reducing the amortization period to 35 years from 40 years on a loan of $200,000 at 6 per cent interest would result in a $41 increase in the borrower's monthly payment. That borrower would save $49,000 in interest payments over the life of the loan, Finance said.

The department took pains to note that the International Monetary Fund concurs with the government that the surge in Canadian house prices and building is explained by low interest rates, rising incomes and a growing population.

The government said it expects construction of new homes to remain at an annual pace of 200,000 new units for a seventh straight year in 2008, and that bank mortgages in arrears are stable at 0.27 per cent, near the lowest levels since 1990.

Open House in Commercial Drive on Saturday

2008-07-09T17:45:00Z

Commercial Drive, Vancouver - We invite everyone to visit our open house at P4-2736 Victoria Drive on July 12 from 14:00 to 16:00.

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2 Story For Sale in North Surrey

2008-07-09T16:49:00Z

Best Value in a Great Neighbourhood!

• 2,220 sq. ft., 2 bath, 4 bdrm 2 story - $459,000 - Best Value in the Area!

North Surrey, Surrey - What a deal! Fabulous, updated 4 bedroom house with a legal 2 bedroom suite!
Brand new 500 SF deck overlooking park! Partial mountain views!
Huge lot; over 8000 SF! Great area for families with terrific neighbours on a traffic calmed street. W.F. Davidson Elementary is a 2 minute walk through the park, 5 minutes from the High School. Central to everything: T&T, Guildford Mall, Recreation Centres, libraries, minutes from HWY 1. Best value in the neighbourhood!!

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Open House in Commercial Drive on Sunday

2008-07-02T19:44:00Z

Commercial Drive, Vancouver - We invite everyone to visit our open house at P4-2736 Victoria Drive on July 6 from 14:00 to 16:00.

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Shoot, I Just Thought We Should Focus More!

2008-07-02T05:46:00Z

As the Metro Vancouver market becomes more buyer-centric, I find my inbox filling up more and more with professionally composed listing ads from 'no longer only ‘tech-savvy' Realtors®' from all corners of our beautiful Metropolis.

On one hand, this bombardment has allowed me to experience several different brands of email marketing management tools. Since I may be in the market for one in the future...that's ok.

On the other hand, these listings are readily available to me through my local board system. If they are of interest to me or in the sites of my automated search parameters for a buyer client, the listing will surely show up in my email none-the-less.

The truth be known, I don't mind so much. The format of these mass email systems is more pleasing to the eye than the cold institutional email through the board system (no insult or criticism intended).
Usually, if a Realtor® has gone to the expense of the slick email marketing system, they've probably also spent the thousands on having themselves ‘branded' again, no criticism...I may consider it myself someday, and it's really great to see how good some of my colleagues can look (even if it's not in ‘real life').

Of course, this also means that they will have hired a professional photographer to work their special magic on the highlighted property - a necessity with the marketing of certain properties.

What does irk me is the photographs.

Now for those of you who are not into photography and couldn't tell the difference between a fish-eye and a walleye or a macro from a mackerel, there are a huge variety of lenses out there. If you have ever seen a professional photographer, they never have less than two lenses and usually have access to several for each ‘shoot'.

The trend for the last few years has been to use an ultra-wide-to-wide-angle zoom lens.

Honestly, it really enhances the visual appeal of a room. Heck, I wanted to put an offer on my own listing after seeing the photos! The average sized living room went from well, average looking to expansive!

The question is this:

By using lenses that give the impression of massive proportion are we not committing the same offence as air-brushing out the electrical wires from a view shot? Should this not be considered as illegal/unethical?

I have taken more than one client to a viewing only to have them comment on how much smaller the place looked in person compared to the photos. The disappointment is obvious. And it wasted everybody's time, the owner, the potential buyer, the Listing Agent and the Buyers' Agent. Furthermore, the seller can be given the impression that the property is not fairing well when 30 potential buyers view the property and nobody makes an offer. When the majority of them would not have bothered if they knew the place was that small.

As a Buyers' Agent, I realise that it's my responsibility to ensure my clients are aware of sizes, shapes, etc. I also know that a buyer who sees distorted photos that create visions of grandeur really want to see the property for themselves.

So, who's the big winner in this scenario; Seller, Buyers, Agents? Should we maybe shift our focus?

217-237 East 4th Avenue in Main is Sold!

2008-06-25T17:05:00Z

Main, Vancouver - The apartment at 217-237 East 4th Avenue has been sold.

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Apartment For Sale in Commercial Drive

2008-06-14T18:08:00Z

Gorgeous Penthouse - Close to So Much.

• 1,106 sq. ft., 2 bath, 2 bdrm apartment "Penthouse with Turret Den" - MLS® $449,000 - New Price!

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Rules of Real Estate

2008-06-13T17:12:00Z

Here are two Real Estate sayings that seem to be repeated frequently:

“No amount of marketing in the world will sell an overpriced listing.”

"The only factor preventing a home from selling, is price.

We'd love to hear your feedback on these two simple statements.

Mortgage Rates Going Up?

2008-06-12T21:12:00Z

Big banks move to boost their mortgage rates by as much as 85 basis points

TORONTO — Bank of Montreal (TSX:BMO) is hiking its residential mortgage rates by up to 85 basis points, joining Royal Bank (TSX:RY), TD Canada Trust (TSX:TD) and CIBC (TSX:CM) in increasing the cost of borrowing to buy a home. The increases follow the Bank of Canada's surprising decision to leave its benchmark overnight rate unchanged at three per cent, rather than lowering it by a quarter-point as most bank economists had expected. The central bank's overnight rate influences the commercial banks' cost of raising short-term funds that are then used by them to finance consumer mortgages. CIBC kicked off the current round of mortgage-rate adjustments on Wednesday, but with relatively small increases compared with announcements that followed. TD Bank raised its rates by as much as 85 basis points (85-100ths of a per cent) and Royal said Thursday it will boost its rates by up to half a point. As of Bank of Montreal's announcement on Thursday. CIBC had the highest rate among five largest Canadian banks for one-year open mortgages at 9.24 per cent. On the other hand, CIBC's five-year mortgage rate was 20 basis points lower than the Royal, TD or Bank of Montreal at 6.95 per cent. Scotiabank had yet to announce its adjustments as of early Thursday afternoon.

Call us for information on what you should do about buying. 778-869-7653

Open House in Commercial Drive Area on Saturday

2008-06-12T17:07:00Z

Victoria Drive, Vancouver - I can't believe this is priced so low!

P4-2736 Victoria Drive on June 14 from 14:00 to 16:00.

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Apartment For Sale in Commercial Drive

2008-06-11T16:04:00Z

Gorgeous Suite - Close to So Much.

• 1,106 sq. ft., 2 bath, 2 bdrm apartment "Penthouse with Turret Den" - MLS® $449,000 - Above Sub-Urban Living

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Market Barometer

2008-06-06T16:09:00Z

Growing supply helps stabilize market conditions

VANCOUVER, B.C. - June 3, 2008 - The Greater Vancouver housing market continued its re-balance between sales and listings last month. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver declined 30.7 per cent in May 2008 to 3,002 from the 4,331 sales recorded in May 2007.

New listings for detached, attached and apartment properties increased 20.2 per cent to 7,390 in May 2008 compared to May 2007, when 6,149 new units were listed.

"With more property listings and a decline in the number of sales, prices are not increasing as rapidly, now down to single digits overall, which is good news from an affordability standpoint," said REBGV president, Dave Watt. "The housing market is at a balanced state, sellers have more competition and buyers have more selection to choose from."

Sales of detached properties in May 2008 declined 33.4 per cent to 1,203 from the 1,805 sales recorded during the same period in 2007. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties rose 8.4 per cent from May 2007 to $771,250.

Sales of apartment properties declined 30.5 per cent last month to 1,244, compared to 1,789 sales in May 2007. The benchmark price of an apartment property increased 8.7 per cent from May 2007 to $389,668.

Attached property sales in May 2008 decreased 24.7 per cent to 555, compared with the 737 sales in May 2007. The benchmark price of an attached unit increased 9 per cent between May 2007 and 2008 to $478,931.

Bright spots in Greater Vancouver in May 2008 compared to May 2007:

Attached:
Coquitlam	up 45.2 per cent (45 units sold from 31)

Apartments:
New Westminster	up 13.6 per cent (100 units sold from 88)

The Real Estate industry is a key economic driver in British Columbia. In 2007, 38,050 homes changed hands in the Board's area generating $1.065 billion in spin-offs. Total dollar volume of residential sales set a new record at $22.25 billion and total dollar volume of all sales set a record at $22.77 billion. The Real Estate Board of Greater Vancouver is an association representing more than 9,500 REALTORS®. The Real Estate Board provides a variety of membership services, including the Multiple Listing Service®. For more information on real estate, statistics, and buying or selling a home, contact a local REALTOR® or visit www.realtylink.org.

^*In August 2004, the Greater Vancouver and Fraser Valley boards upgraded our existing MLS systems to a common system called MLSLink. MLSLink® HPI is the latest version of the Board’s Housing Price Index (HPI) and is designed to accommodate the MLS upgrade and improve the legacy HPI product. For more information on real estate, statistics, and buying or selling a home, visit www.realtylink.org.