When purchasing a home you can get faced with a multitude of desisions. The primary one is whether you are actually prepared to purchase a home. Locating the perfect home is not always an easy task and optaining a mortgage loan can be a complex and tiring process. Let me help you every step of the way to make it a good experience for you.
Your first step to buying a home is to ask yourself why you want to buy a home. To stop paying rent? To start building equity? To have a place of your own? To raise a family? To move up to a bigger house or down size? Next is to list what kind of home you'd like and where you would like to be. Be specific. Separate the "must haves" from the "want to haves". What area do you want to live in? Do you need to be near schools or transportation? What about the style of home? Do you want a bungalow? How much space do you need? Looking for a move in ready home? A fixer upper?
Your next step is Loan Pre-Qualification. This should be done before you start looking for homes. You don't want to fall in love with a home and then find out that it is not in your qualified budget range. I have a perfect mortgage specialist that will work with your financial situation. She works for you not the banks so she has freedom to get you the best current rate possible.
Once you know what you are looking for and have been pre qualified, we can start looking for homes. Through MLS and the best of my technology resources, we can find you that perfect home. I am always familiar with the current homes on the market and I know neighbourhood values well so I can help to determine which properties are fairly priced and in good condition.
I am here for you every step of the way. I will make this process of buying a home a journey for you that will be easier, more enjoyable, less time consuming and less expensive than if you undertook this challenge yourself.
Call me today so we can start the process in finding you that perfect home.
Waiting for the announcment later this month from The Bank of Canada on the interest rates, most economists are believing that it will remain at one percent, where it has been for the last three years, until late 2014 even into early 2015. Analysts from Scotiabank are even going further and speculating that the interest rate will not go up until 2016. Low interest rates are generally seen as likely to boost economic perforamance because firms and individuals can more cheaply finance their investments and spending. But The Bank of Canada also warns that keeping rates too low for too long a period could be problematic for savers and pension funds and encourages households to spend beyond their means.
Fixed vs Variable Rates? Open vs Closed Rates? Prepayment options? Mortgages come with lots of questions. Let me help you find the answers. Call me today, John 604-727-7848, and let me set you up with a professional Mortgage Broker. Between her and I, we will make you feel comfortable with your choices.
As of Monday September 30th, 2013, the current fixed mortgage rates are as follows:
1 year 3.09%
2 year 2.79%
3 year 3.19%
4 year 3.59%
5 year 3.79%
10 year 4.39%
According to the BC Real Estate Association (BCREA), Housing sales across BC will rise 5.6% this year and accelerate further to 6.1% next year. This puts the activity above the five year sales average for BC.
The BCREA forecasts that MLS residential sales will reach 71,450 units this year and increasing to 75,830 units in 2014. The five year average is 74,600.
"2013 is shaping up to be a transition year in the BC housing market," said Cameron Muir, BCREA chief economist. "The groundwork has already begun for stronger housing demand as a significant number of part-time jobs in BC were converted into full time employment last year."
"Residential values are expected to be on a more solid footing in 2013 as lower prices, both actual and inflation adjusted, have improved affordability. Many potential buyers that stayed on the sidelines in 2012 will likely enter the market over the next year due to the relatively strong financial condition of BC households."
The average MLS home price in BC is forecast to drop only 1% to $510,400 this year and then rise 0.6% to $513,500 in 2014. (Keep in mind this $ amount is average in BC. If you want prices in a specific area, please call me).
In a release this week, Central 1 Credit Union said the provincial economy, "will shift to a higher gear later in 2013 and beyond" due to a recovery in the US economy and higher employment in BC. "Real GDP growth is forecast to inch ahead by 2.2% in 2013 before accelerating to 2.8% in 2014 and averaging 3.7 % in 2015 to 2017", The Credit Union Reports.
Celebrate Earth Day on Saturday April 20th, 2013 at The Memorial Park in Maple Ridge, 10am - 2pm.
This year The Arts will come to life and be a huge part of the day. With exhibitors from the community they will showcase their environmental activities. The Haney Farmers Market will have their first market of the season, along with flash mobs, roving performers, family activities and more great activies. Bring the whole family to this marvelous free event. Like the Art community says, "EARTH without ART is just 'EH'."
Read HERE for the new transition tax being implemented April 1st, 2013. Call me if you need more info.
Interest rate are in a holding pattern for 2013.
The Bank of Canada kept its key interest rate steady at 1 per cent and warned that interest rates will eventually go up. But consumers don’t need to worry about that happening quickly. The bank expects growth in Canada to pick up through 2013, supported by modest growth in household spending combined with a recovery in exports and solid business investment.
Click link to read more details.
If you are thinking about upgrading your appliances here's another incentive.
BC Hydro offers Appliance Mail-in Rebates for purchases of ENERGY STAR clothes washers, refrigerators,
dishwashers, or freezers.
They also offer BC Hydro Fridge Buy Back Program. Not only will they pay you $30, they also come pick it up. How sweet is that?
Click on links for more info.
Click Here to see a quick video why now is a good time to buy a home.
Between November 26th and December 3rd, participating real estate offices of the Real Estate Board of Greater Vancouver and the Fraser Valley Real Estate Board are collecting donations for people in need of warmth this winter.
The blanket drive is looking to collect clean blankets, tarps, sleeping bags and warm clothing of all shape and sizes. Donations are distributed through local charities, churches and community service organi\ations. For a list of these charities and a list of donation drop off locations go to http://www.rebgv.org/blanketdrive
If you can help out with anything, please call me (John Kenney @ 604-727-7848) and I would be happy to pick up your donation, or you can drop it off at Keller Williams Elite Realty #A123-2099 Lougheed Hwy, or click on above link to see all donation drop off locations.
Thank you for your support!
Nov 7/12 - MONEY, MONEY, MONEY - Wouldn't $10,000 be nice to put in your pocket? Ask me how or click here to find out more.
Oct 23/12 - A good time to buy with mortgage rates staying low. CLICK HERE to see all the details.