Vancouver Reflections - Shining the Light on Vancouver Real Estate - by Maggie Chandler

The Pros and Cons of Longer Versus Shorter Amortizations

Maggie — Sat, 05 Jul 2008 03:00:47 +0000

Choosing the length of your amortization period, which means the number of years you will need to pay off your mortgage, is an important decision for Vancouver home buyers that can affect how much interest you pay over the life of your mortgage.

Historically, the standard amortization period has been 25 years. However, shorter (10 or 15years) and longer (up to 40 years) time frames are also available. A shorter amortization saves you money as you will pay less in interest costs over the life of your mortgage. Your regular mortgage payment amount would be higher than if you had selected a longer amortization, as more of your payment goes towards paying down your principal balance. However, the benefits are that you build the equity in your home faster and are mortgage free sooner.

A longer amortization provides you lower monthly payments and because of this it is appealing to many people. However, it does mean that more interest will be paid over the life of the mortgage and you will build the equity in your home at a slower pace. (more…)

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Should I Sell My Vancouver Condo First And Then Buy? Or Vice-Versa?

Maggie — Fri, 04 Jul 2008 03:46:23 +0000

What is the best way to sell and buy another Vancouver condo?

It’s a first time sellers dilemma. When you left the rental market and bought your first condo it was easy. Now you must figure out how to get your equity out of one condo so that you can purchase another one. A recent client experienced this situation, so I thought it would make a good blog post.

Buy first then sell? Sell first then buy? It is a question I am often asked by first time sellers.

My answer to you is that your decision depends on a number of considerations.

What is your personality? How risk adverse are you? What are the current Vancouver market conditions, is it a buyers or sellers market? Are you purchasing a brand new condo or a resale condo. can you secure bridge financing at the bank? (more…)

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Wordless Wednesdays

Maggie — Wed, 02 Jul 2008 15:51:59 +0000

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Happy Canada Day!

Maggie — Tue, 01 Jul 2008 16:16:00 +0000

It’s Canada’s Birthday! When the British North American Act came into being on July l, 1867 Canada was born.

We’re living in Vancouver, which is voted the 4th Best City In The World! We’re also living in British Columbia, which the BC Government tells us is the Best Place on Earth!

Here’s what’s happening in Vancouver over the next four days. Lots of fun outdoors.

Here’s Wiki’s version of our history.

View other Vancouver events.

Share your Canada experience with us! I will be enjoying the rays on the Sunshine Coast. Have a wonderful weekend!

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Are Vancouver Homeowners Protected Against Title Fraud?

Maggie — Mon, 30 Jun 2008 16:50:07 +0000

Yes! British Columbia homeowners are protected against Title Fraud.

In light of recent articles in The Vancouver Sun regarding the issue of title and mortgage fraud in B.C., the

B.C.

Land Title and Survey Authority (LTSA) emphasizes that such cases are extremely rare because strong protections are in place in this province.

The Real Estate Board of Greater Vancouver recently published this article.

The LTSA reports that over the past 18 years, the land title system processed 15 million transactions. During this time, two claims related to land ownership fraud were successfully resolved and only 14 claims related to mortgage fraud had been filed. (more…)

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Vancouver’s International Jazz Festival

Maggie — Sat, 28 Jun 2008 00:48:46 +0000

This wonderful event is held June 20-29 at 40 venues around Vancouver. The TD Canada Trust Jazz Festival is an annual event.

Some music genres are everywhere you turn. Jazz isn’t one of them, so the organizers, TD Canada Trust, mad the decision to take this great music to the people, with pre festival conerts, special school events and free concerts. This is one of the greatest jazz fests, featuring 1,800 musicians in 400 concerts. Listen to the music whilst lazing in the David Lam Park in Yaletown.

Look for Herbie Hancock, along with the Dave Brubeck Quartet, Pink Martini, Cowboy Junkies and the Jazz at Lincoln Center Orchestra featuring Whyton Marsalis.

View their website

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Vancouver Folk Music Festival

Maggie — Fri, 27 Jun 2008 16:04:11 +0000

Vancouver’s Folk Music Festival is an annual event held July 18-20 at Jericho Park.

The event has 7 stages, great food, stunning views of Vancouver’s water and mountains. The festival’s “no star” policy means it rarely features famous folk singers but always has plenty of surprises and delights.

Check it out here

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Why You Can Save Money By Buying This Vancouver Downtown Studio

Maggie — Thu, 26 Jun 2008 15:34:43 +0000

708-1189 Howe Street, Downtown Vancouver is a 488 sq.ft. studio in The Genesis, on the corner of Davie Street and is listed $24,000 below the last comparable sale in the building a couple of weeks ago. Listed at $285,000 (under $600 pr sq ft). It faces south and has a large balcony and an open outlook. The maintenance fee is only $175.00 per month. It has one parking spot.

When my clients purchased this Vancouver condo a few years ago they were living in California . I viewed a number of condos for them, took pictures, sent comparable sales in the building and my opinion on the condition of the suites, the buildings, the outlook and the locations. We did the transaction electronically and they did not view the suite before purchasing it. It was bought as a vacation home.

Last week they called me to say they were in Vancouver and wished to look at a few larger suites, so I set up a buyer tour for them on Friday. They selected a suite in the same building. The Genesis is well located for them, close to the seawall, lots of restaurants in the hood and easy walking to the shops and theatres. (more…)

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Wordless Wednesdays

Maggie — Wed, 25 Jun 2008 20:51:20 +0000

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Featuring The Qube, 1333 W. Georgia, Coal Harbour, Vancouver

Maggie — Tue, 24 Jun 2008 16:10:11 +0000

The Qube at 1333 West Georgia, Coal Harbour, Vancouver is a city landmark.

The Location - situated 3 blocks to the waterfront and walking distance to the Business District and 2 blocks to the Shangri-la Hotel/condo which has an Urban Fare supermarket. The Qube offers affordable living in Coal Harbour.

The Building - The Qube at 1333 W Georgia Street, Vancouver, BC, V6E 4V3 . Originally built in the ’60s as the Westcoast Transmission office building. The company was bought out by Duke Energy and then purchased by a Developer who converted it to a condo. It opened in 2006. (more…)

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