My East Van Blog

Housing Marketing Prediction for 2012 by CMHC

In 2011, Canada Mortgage Housing Corporation (CMHC) predicted price growth of just three per cent, tempered by an expectation of higher interest rates, but interest rates stayed low and prices ultimately jumped 16 to 17 per cent.

In 2012, CMHC predicts the market will stabilize and show modest growth in line with inflation. 
“I’d say it’s a pretty stable market out there. We’re not expecting to see... read more.

Happy Holidays!

Greater Vancouver Real Estate Board's Blanket Drive

Since 1994, the real estate community has partnered with local charities to distribute items collected in the region, in that time helping more than 185,000 people.

During this year’s REALTORS Care® Blanket Drive, Nov. 28 - Dec. 5, people from across the Lower Mainland benefited from the many contributions distributed through local charities.

“We anticipate the hundreds of bags of coats and blankets... read more.

Highest Rental Rates in Canada

According to a national survey by Canada Mortgage and Housing Corporation (CMHC), Metro Vancouver and British Columbia led the national average monthly rents in October.  At the same time, Tenants Resource and Advisory Centre states the city's vacancy rate is also falling.   So even though there is less supply in the market, our rental rates continue to climb.

The report states, "Apartment vacancy ra... read more.

5% Downpayment Only

In the current market, a regular conventional mortgage from a bank has a maximum financing ratio of 80% for the lower of the purchase price or appraised property value. 

Purchase Price       $500,000 x 80% = $400,000
Appraised Value      $490,000 x 80% = $392,000

In the above example, the bank will only lend a maximum mortgage amount of $392,000. The bank will review your income and credit history to qualify yo... read more.

Water and Garbage Tax Hikes Coming Next Year

City of Vancouver staffers are recommending a hike of nearly 10% for water and sewer services, along with a 5.7% increase for garbage collection next year. The adjustment is proposed to help pay for the new $800 million Seymour-Capilano water filtration plant, and to replace city sewer lines. This is part of Vancouver's long term plan of stopping raw sewage from draining into surrounding waterways... read more.

Growing Trend - Wood Finished Kitchens




















photo from http://kitchen-furniture-info.blogspot.com

By far, granite is the most popular kitchen countertop material nowadays.  But not every cook wants the cold, hard look of polished stone.  There has been a recent trend to use hardwood countertops when remodeling kitchens.

"We've come full circle," says Colin Gloeckler, general manager of Artistic Mouldings and Millwork. "Before granite became t... read more.