I have listed a new property at 45408 SPARTAN CRES in Chilliwack.
Won't last long! Great price point to get into this neighbourhood in a basement entry home for the family! This home offers 3 bedrooms up, large kitchen and dining room with newer laminate flooring in the bedrooms and dining room! Off the kitchen, enjoy your private covered deck. The spacious living room offers a gas fireplace. Master bed offers a 2 piece ensuite. Your fenced yard offers full privacy with hedges and many types of plants/tree and even a greenhouse for the nature lover! Below the laundry room is huge and offers extra storage space! Single garage is large and ample parking in driveway for vehicles and even an RV. Close to schools & shopping. Call today for your viewing!
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Please visit our Open House at 45408 SPARTAN CRES in Chilliwack.
Open House on Saturday, June 24, 2017 1:00PM - 3:00PM
Won't last long! Great price point to get into this neighbourhood in a basement entry home for the family! This home offers 3 bedrooms up, large kitchen and dining room with newer laminate flooring in the bedrooms and dining room! Off the kitchen, enjoy your private covered deck. The spacious living room offers a gas fireplace. Master bed offers a 2 piece ensuite. Your fenced yard offers full privacy with hedges and many types of plants/tree and even a greenhouse for the nature lover! Below the laundry room is huge and offers extra storage space! Single garage is large and ample parking in driveway for vehicles and even an RV. Close to schools & shopping. Call today for your viewing!
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Please visit our Open House at 45408 SPARTAN CRES in Chilliwack.
Open House on Sunday, June 25, 2017 1:00PM - 3:00PM
Won't last long! Great price point to get into this neighbourhood in a basement entry home for the family! This home offers 3 bedrooms up, large kitchen and dining room with newer laminate flooring in the bedrooms and dining room! Off the kitchen, enjoy your private covered deck. The spacious living room offers a gas fireplace. Master bed offers a 2 piece ensuite. Your fenced yard offers full privacy with hedges and many types of plants/tree and even a greenhouse for the nature lover! Below the laundry room is huge and offers extra storage space! Single garage is large and ample parking in driveway for vehicles and even an RV. Close to schools & shopping. Call today for your viewing!
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Vancouver housing market "ain't seen nothing yet"

 

 

The Vancouver real estate market, far from reaching its peak in terms of unaffordability and lack of housing, is merely “dancing on the edges of a massive problem,” according to one leading development marketer.

Speaking to a packed audience at the Urban Development Institute luncheon on new home marketing at the Fairmont Hotel Vancouver June 8, Cameron McNeill of MLA Canada added, “We ain’t seen nothing yet.”

The panel of well-known development marketing bosses, which also included Scott Brown of Fifth Avenue Real Estate Marketing and Daryl Simpson of Bosa Properties, discussed how blistering demand and a trickling supply of new housing is affecting the affordability of homes in the region.

Event moderator and UDI chair Jon Stovell of Reliance Properties asked the panel whether onerous building permit requirements and slow processing times were affecting home prices – to which the reply was unanimously “yes, absolutely, 100%.”

 

Cameron McNeill said that the Metro Vancouver region is expected to grow by 250,000 people in next five years, and that it currently takes around six years to get a highrise residential project from conception to occupancy – “if it all goes well”. He said, “And that’s maybe 300 units. The city is 300,000 people bigger by that point.” However, McNeill's comments do not jive with Metro Vancouver's projections for population growth, which would estimate an additional 180,000 people over the next six years.

 

McNeill added, “We’re dancing on the edges of a massive, massive problem. And it’s not going to change. I just came back from Hong Kong and everybody I spoke to said to me, ‘That’s nothing.’ We ain’t seen nothing yet. This is just the tip of the iceberg for Vancouver.”

 

Daryl Simpson pointed out that population growth numbers, and therefore housing demand, would likely be even higher than projected, as projections are based solely on permanent residents and citizens. “One thing they rarely look at student visas and multiple-entry visas. There were 67,000 student visas in BC last year. And you have to think, if they’re flying to BC to study, these are students with means, maybe wealthy families. In 2016, there were 315,000 multiple entry visas – they last 10 years and allow people to fly back and forth. So you need to layer those on top of the permanent residents and citizen population growth.”

 

Scott Brown said, “You can’t fix demand. And if this is a housing crisis as the media says, where is the multi-stakeholder group figuring out how to speed up supply? If we were going to war we sure as hell would be working out how to arm up quickly. But we spend more time working out how to break things apart than how to fix things. We need to work together. We’re trying, but putting one project a time on the market, there’s so much demand, prices just keep escalating.”

 

Simpson added, “Look at the 450 acres in False Creek Flats, with 1,400 residential units in total earmarked for that area. That’s three homes per acre. That’s insane. Ask Ryan Holmes of Hootsuite what he needs, it’s not 450 acres of industrial land, its proximate residential units [so employees can afford to live in Vancouver close to work]. Ask Amazon, they’ll say the same thing. Go to Seattle, there are more residential units being built by Vancouver developers – Bosa, Westbank, Onni – right across the street from the Amazon HQ than will be built in the whole of the False Creek Flats.”

 

 

 

 

 

 

 

 

Source: http://www.rew.ca/news/vancouver-housing-market-ain-t-seen-nothing-yet-1.20508243

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I have sold a property at 114 45567 YALE RD in Chilliwack.
Investor/First Time Buyer Alert! Great opportunity for a 1 bedroom, 1 full bathroom unit at "The Vibe". Your features include all appliances, D/W, microwave, in suite laundry, walk-in closet, soaker tub, underground parking, fob security system, storage locker & sundeck for your BBQ. Close to all amenities, shopping (Eagle Landing, Cottonwood Mall), hospital, recreation centre, public transit &highway #1 for that easy commute. The Vibe Club includes a fitness area & private function accommodations. Rentals are allowed here! This unit is a pleasure to show & offers value for the first time Buyer &/or Investors. Call for your private showing!
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Please visit our Open House at 17 31125 WESTRIDGE PL in Abbotsford.
Open House on Saturday, June 17, 2017 1:00PM - 3:00PM
Your search stops here! This 3 bedroom, 2 bathroom townhouse backing onto greenbelt is perfect for first time home buyers. Large, open layout on the main floor with granite countertops and stainless steel appliances. Walking distance to all 3 levels of school and close access to Highway #1. This Home will not last!
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Please visit our Open House at 4248 ETON ST in Burnaby.
Open House on Saturday, June 17, 2017 1:00PM - 3:00PM
Brand New!!! Stunning custom built home on a quaint Magnolia-tree lined st in North Burnaby. Notice quality throughout this home with beautiful hardwoord floors, in-floor radiant heating, waterfall quartz counter-tops, AC, designer chandeliers and much more! Fall in love with the designer kitchen boasting exquisite melamine cabinetry and high-end SS appliances including a Wolfe range. The deck off the kitchen offers southern exposure to enjoy your summers! In the master bedroom enjoy sneak-peek views of the ocean, a spacious WIC, and lavish ensuite with a soaker tub to unwind! Need more? This home offers a legal-suite, security with 4 HD cameras, & 2-5-10 Warranty for piece of mind! Close to BCIT, SFU, & Brentwood Town Centre! OPEN HOUSE JUNE 3 & 4 - 1-3 PM.
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I have listed a new property at 49 31125 WESTRIDGE PL in Abbotsford.
Your search stops here! This 3 bedroom, 2 bathroom townhouse backing onto greenbelt is perfect for first time home buyers. Large, open layout on the main floor with granite countertops and stainless steel appliances. Walking distance to all 3 levels of school and close access to Highway #1. This Home will not last!
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I have listed a new property at 17 31125 WESTRIDGE PL in Abbotsford.
Your search stops here! This 3 bedroom, 2 bathroom townhouse backing onto greenbelt is perfect for first time home buyers. Large, open layout on the main floor with granite countertops and stainless steel appliances. Walking distance to all 3 levels of school and close access to Highway #1. This Home will not last!
Read Full Story
I have sold a property at 315 45567 YALE RD in Chilliwack.
Investor/First Time Buyer Alert! Great opportunity for a 1 bedroom, 1 full bathroom unit at "The Vibe". Your features include all appliances, D/W, microwave, in suite laundry, walk-in closet, soaker tub, underground parking, fob security key system, storage locker & sundeck for your BBQ. Close to all of the amenities, shopping (Eagle Landing, Cottonwood Mall), Hospital, recreation centre, public transit & highway #1 for that easy commute. The Vibe Club includes a fitness area & private function accommodations. Rentals are allowed here! This unit is a pleasure to show & offers superb value for the first time Buyer &/or Investor. Call for your private showing!
Read Full Story
I have listed a new property at 4248 ETON ST in Burnaby.
Brand New!!! Stunning custom built home on a quaint Magnolia-tree lined st in North Burnaby. Notice quality throughout this home with beautiful hardwoord floors, in-floor radiant heating, waterfall quartz counter-tops, AC, designer chandeliers and much more! Fall in love with the designer kitchen boasting exquisite melamine cabinetry and high-end SS appliances including a Wolfe range. The deck off the kitchen offers southern exposure to enjoy your summers! In the master bedroom enjoy sneak-peek views of the ocean, a spacious WIC, and lavish ensuite with a soaker tub to unwind! Need more? This home offers a legal-suite, security with 4 HD cameras, & 2-5-10 Warranty for piece of mind! Close to BCIT, SFU, & Brentwood Town Centre! OPEN HOUSE JUNE 3 & 4 - 1-3 PM.
Read Full Story
Please visit our Open House at 4248 ETON ST in Burnaby.
Open House on Saturday, June 3, 2017 1:00PM - 3:00PM
Brand New!!! Stunning custom built home on a quaint Magnolia-tree lined st in North Burnaby. Notice quality throughout this home with beautiful hardwoord floors, in-floor radiant heating, waterfall quartz counter-tops, AC, designer chandeliers and much more! Fall in love with the designer kitchen boasting exquisite melamine cabinetry and high-end SS appliances including a Wolfe range. The deck off the kitchen offers southern exposure to enjoy your summers! In the master bedroom enjoy sneak-peek views of the ocean, a spacious WIC, and lavish ensuite with a soaker tub to unwind! Need more? This home offers a legal-suite, security with 4 HD cameras, & 2-5-10 Warranty for piece of mind! Close to BCIT, SFU, & Brentwood Town Centre! OPEN HOUSE JUNE 3 & 4 - 1-3 PM.
Read Full Story
Please visit our Open House at 4248 ETON ST in Burnaby.
Open House on Sunday, June 4, 2017 1:00PM - 3:00PM
Brand New!!! Stunning custom built home on a quaint Magnolia-tree lined st in North Burnaby. Notice quality throughout this home with beautiful hardwoord floors, in-floor radiant heating, waterfall quartz counter-tops, AC, designer chandeliers and much more! Fall in love with the designer kitchen boasting exquisite melamine cabinetry and high-end SS appliances including a Wolfe range. The deck off the kitchen offers southern exposure to enjoy your summers! In the master bedroom enjoy sneak-peek views of the ocean, a spacious WIC, and lavish ensuite with a soaker tub to unwind! Need more? This home offers a legal-suite, security with 4 HD cameras, & 2-5-10 Warranty for piece of mind! Close to BCIT, SFU, & Brentwood Town Centre! OPEN HOUSE JUNE 3 & 4 - 1-3 PM.
Read Full Story

 

 

If you have home equity, there's a neat method to use it to make investments and write off the mortgage interest. Jorge and Alisa Aragon explain how

 

 

For US homeowners, mortgage interest is automatically tax deductible, but for Canadians, the write-off is not so straightforward. However, there is a way for you to deduct your mortgage interest while increasing your wealth, an approach known as the “Smith Manoeuvre”.

In order to make your mortgage interest tax deductible, homeowners must be able to prove that the money is being reinvested and is not being used for personal expenses.

A properly structured mortgage-centric tax strategy has several key elements – the most important of which is a multi-component, mortgage or home equity line of credit (HELOC). You will need a readvanceable or line-of-credit mortgage that lets you continuously extract equity as you pay your mortgage down.

Every time you make a payment and reduce your principal, you then immediately extract that equity and add it to your investment account. Since you have been able to deduct your mortgage interest, at the end of the year you will generate a tax refund that you can use to make a lump-sum payment on your mortgage –which makes even more funds available for investment.

It’s best to have a single collateral charge with at least two components – usually a fixed-term mortgage and an open line of credit – that can track and report interest independently. This is absolutely essential under Canada Revenue Agency (CRA) rules and guidelines. In addition, for the interest payment to be tax deductible on any money borrowed for investment purposes, it must have a reasonable expectation to be able to produce an income.

Second, the strategy must employ conservative leverage-investment techniques – which is why a financial advisor must be involved in order to comply with federal regulations. The financial advisor should be a Certified Financial Planner (CFP) who is experienced in leveraged investing and able to actively monitor a homeowner’s portfolio on an ongoing basis.

Homeowners who opt for a tax-deductible mortgage interest plan make their monthly or bi-monthly mortgage payments the same way they would when making any type of mortgage payment. The payments go towards reducing the principal amount of the mortgage, creating equity; which is subsequently available to be borrowed on the line of credit. From there, the equity available in the line of credit must then be transferred to an investment account, which can be done automatically by your Certified Financial Planner.

Essentially, the homeowner is borrowing from the paid portion of the mortgage for reinvestment purposes.

On average, a typical 25-year mortgage can become fully tax deductible in 22.5 years.

The Ideal Client

Ideal borrowers for an advanced mortgage and tax strategy are typically professionals or other high-income earners who have a conventional mortgage, and have at least 20 per cent of the cost of the home to put towards a down payment, or who have built up substantial equity.

As high-income earners, their total debt-servicing ratio will be quite low and they will have excellent credit (680+ Beacon scores). These borrowers are financially sophisticated homeowners that are keenly interested in establishing a secure financial future and comfortable retirement. They also have good investment knowledge.

The Risks

The financial benefits of tax-deductible mortgage interest are indisputable and justify the risks to the right borrower. That said, a problem can arise if a homeowner spends the funds as opposed to reinvesting them. As well, any tax refunds should be used to pay down the mortgage as quickly as possible – thus making as much of the interest payment as possible tax deductible.

The short-term financial risk is liquidity (sometimes referred to as cash flow risk). Cash flow risk addresses the possibility that interest rates will sharply drive up the cost of borrowing at the same time as markets falter, resulting in a negative client monthly cash flow for a brief period of time.

This short-term risk is typically only prevalent in the first two to four years because, after this period of time, the homeowner has stockpiled enough equity through annual tax refunds that other liquidity options exist and the risk is fully mitigated.

Liquidity risk varies widely based on the balance sheet strength of the homeowner. Highly qualified homeowners are easy to manage as these borrowers have no difficulty meeting the short-term cash flow demand should the need arise.

Combining this tax deductible mortgage with a sound investment strategy can significantly increase your net worth over the long term. Talk to a mortgage expert for a free analysis of how the Smith Manoeuvre can work for you.

 

 

 

 

 

 

 

 

Source: http://www.rew.ca/news/how-to-make-your-mortgage-tax-deductible-and-increase-your-net-worth-1.1744201?utm_source=REW+Realtor+News&utm_campaign=87e6967bc2-REW_Agent_News_Monday_05_22_2017&utm_medium=email&utm_term=0_38b446cae6-87e6967bc2-96024289

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I have sold a property at 31933 SAMUEL CRT in Abbotsford.
Over 4000 sqft custom built 2 storey + basement home! This executive home offers 7 bdrms + den including a 2 bedroom LEGAL suite. Quality work throughout this home including extensive crown molding, laminate floors and 2x6 construction. Themain floor boasts a sunken living off the kitchen featuring solid oak cabinetry, plus a den, powder room and family room. Above you'll find 4 beds and 3 baths with a master offering a fireplace, huge walk-in closet and double Jacuzzi and separate shower. The basement offers a spacious rec room and bedroom for upstairs, plus a two bedroom legal suite as a great mortgage helper. Call today to schedule your viewing!
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I have sold a property at 6 3070 TOWNLINE RD in Abbotsford.
Rarely available unit in the family oriented Westfield Place! 3 Storey unit with a single garage, offers 4 bedrooms and 3 baths. One of the biggest floor plans in the complex.... On the main floor enjoy your livng, dining, powder room and kitchen with a sliding door out to your greenspace. Above you'll find 3 spacious bedrooms, 2 full baths including an ensuite off your master bedroom. Below is a recently finished rec room with upgraded wiring and set up for a projector, and a 4th bedroom! Recent renos include laminate flooring & paint. Great location and just minutes to the new High Street Mall. Complex has no age restrictions and no size restrictions on dogs, however no rentals allowed. Call today for your personal viewing!
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I have sold a property at 12990 72ND AVE in Surrey.
Great opportunity to run your own business and/or invest in the fastest growing City in BC! Located on a high exposure corner of 72 Ave and 130th, this business and residence boasts over 5000 sq ft finished area sits on a 10,808 square ft lot. Current major business is a convenience store with recent set-up to offer hot food (eat-in/take-out)-currently offering Donairs but potential for other options. Supplementary income from U-Haul truck rental and moving supply + more. Above offers a renovated 5 bedroom residence and huge wrap around balcony. Minimal experience required to run this business. Call today for a full information package! See MLS #F1426639 7181 130 St.
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I have sold a property at 3422 BLUE JAY ST in Abbotsford.
Quality custom built home in West Abbotsford! Beautiful three-storey home offers lots of extras with no spared expenses when building. You'll notice quality granite tiles, beautiful dark hardwood floors, energy efficient heating systemwith A/C, central vacuum and much more! On the main floor you'll find a living/family room combo w/a beautiful entertainer's kitchen + a spice kitchen, and spacious den! Above area 4 bedrooms with a huge master featuring a spacious ensuite with shower and soaker tub. Below you'll find a spacious rec/flex room with plenty of potential and a theatre room built in the bunker with built in cabinetry and roughed in for a wet bar. As a bonus you even have a 2 bedroom legal suite as a mortgage helper!
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I have sold a property at 12488 57A AVE in Surrey.
Almost 10,000 sqft luxury mansion sitting on a 1/2 acre property! Tonnes of extras went into the construction of this home including silent 2x6 floors, extra joists, insulation and efficient radiant heat throughout. No shortage of space inthis huge home which 5 beds offers and 7 baths. Other features include: a gourmet kitchen with oak cabinets, jetted tubs upstairs, built-in hottub, sauna & steam room downstairs, triple garage and more! The walk-out basement is great for entertaining with a spacious rec room, bar area and billiards room. It opens up to the private backyard with potential for a pool. Don't miss an opportunity to see this house in one of the city's best neighborhoods! Call today to schedule your viewing!
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I have sold a property at 2093 BROADWAY ST in Abbotsford.
3 bedroom rancher with full basement below. Great central location close to Mill Lake, the hospital and Sevenoaks shopping center. Home does need some TLC but great potential in a high demand neighborhood.
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