Musical Show--my new entertainment!

I found a new hobby. I am enjoying the holidays by watching a live musical show. I always drive by Granville Street and like everyone, I'm always curious of what's showing at Stanley Theatre (Stanley Industrial Alliance Stage) on Granville/12th. One rainy night, I decided to buy a ticket and watch the musical show,"White Christmas"as my Christmas treat for myself. Wow! I had a blast and I think it's a good way to relax your mind and enjoy the live music instead of listening to cd or watch TV. The second night, I went to Granville Island and watched the Blood Brothers and the story was not Christmasy however, being at that theatre made me experienced and appreciated that I live in a beautiful Province and that we have such talented people who can sing and act. And no matter what's the story, it makes me forget my state of chaos mind and engulf myself by being in the moment.

Yes, I am happy to tell you especially for the new comers in Vancouver that we are bless to be in a beautiful city and that the city has so many things to offer even during the fall/winter season.

As a supporter of the Arts and for January 2012 promotion, I would like to share with you how wonderful it is to be at a live musical/theatre show by giving you a Complimentary Season Ticket Package when you buy or sell real estate with my service. Please mention this promotion when you contact me @ 778.837.3617 or email gracebrewster@telus.net .

Updates!

It's been awhile sinceI visited my blog page. I hope everybody is ready for the Holidays. In the past 6 months, there were so many good things that happened to me. The market was good for me and I expect to double or triple my business in 2012! I also became the VP of the local association which has 100's of members, family and friends who are enjoying the group (http://www.ciabc.org/). After finishing my Managing/Associate Broker Course, I am scheduled to write my Broker license very soon.


In addition, I also took some Commercial Real Estate professional development courses offered by the real estate board recently and combined with my other professional development credits, I am excited to expand my experience in commercial area. As an investor myself, I love knowing the jargons and all the investment numbers like feasilibility studies, single and multi-period analysis (not to mention it was also in the Broker Course). It will be a great asset to help others to invest from one unit to multi-family. I have all the patience to help my clients from start to finish. I used to give free first time buyers seminars, so why not expand it to multi-family or joint venture and work with investors. Effective January 2012, I will be a Candidate Member of the Commercial Division and in order for me to get the full membership, I need to complete a total of 10 qualifying Commercial transactions or $10M qualifying transactions.

I'm also thankful to meet a good CGA who can help us with the investment tax area. His info is Geoff Carter of Carter's Accounting Services 778-840-1741 email caraserv@shaw.ca

Anyway, those are my short term goals. What are your goals for the New Year?

I think when we love what we do, there is no dull moment and success is the only choice! Please contact me if you have any questions with any of residential or commercial listings. Me and my collegues in the mortgage industry will also be glad to help you with your residential and commercial mortgage. My direct email is gracebrewster@telus.net . Thank you for reading! Happy Holidays Everyone!

New Listing at the West End

Available now! Admiral Point Building located at 703-1838 Nelson Street. Steps to English Bay, shopping and entertainment. Freehold rainscreened building with 10 years warranty. Enjoy the view of English Bay! Stay in for BBQ and a relaxing afternoon on your balcony or simply go out and enjoy your dinner at any restaurants and go for a walk or pick your favorite bench and watch the Bay. City & Nature lifestyles blend together. Come live here with your pets. 2 bedroom & 1 bathroom. 786 sq. ft with a good size diningroom to entertain your family and friends.

Helping you is what we do!

WHY DO YOU NEED A REALTOR?

New Sub-Areas Boundaries in False Creek

On Thursday, June 16, new sub-area boundaries were implemented for the False Creek area of downtown Vancouver. Specifically, the ‘False Creek North’ sub-area will be expanded and renamed ‘Yaletown,’ and the ‘False Creek’ sub-area will be expanded to include the area around Olympic Village.

These changes are the result of a series of consultations with Vancouver Westside Division members. They are intended to provide a more accurate representation of the boundaries of these neighbourhoods and a more current reference for the name of the Yaletown sub-area.
Anyone using automatic searches in these sub-areas on MLXchange will need to adjust their settings to continue to receive the search results that they are looking for.

The Board will also upload the authenticated tax rolls for 2011 into MLXchange on June 16. This update ensures that MLXchange is using the most current property assessment information available.


See the MAP:

http://members.rebgv.org/realtorlink/rebgv/publications/RLzine/RL_june172011/files/Yaletown_FalseCreek.pdf

Source: Real Estate Board of Greater Vacouver

Pre-Sales

Do you want to invest? I just received an email from a New Development. There are 2 pre-sales with only 5% down. Normally, 20% down when you buy pre-sale. One in Coquitlam/Burnaby area and the other one is in Vancouver West. It won't last long, so contact me and use my free buyers service.

Pre-Sale contract is very complicated. You need to be protected. Call me!

For Investment of First Time Buyer. This is an opportunity you don't like to miss!

Example: Junior 1 bedroom asking 250K. Downpayment is $12,500.

No downpayment, but with good income? We also have zero down with a rate of 5.39% as of today. Means the bank will lend you 5% downpayment and they give you 95% mortgage.

As A BUYER, to use my REALTOR service is free!!!

I will help you from start to finish! http://www.gracebrewster.com/

Better than Netflix

I found this link to access almost all over the world channels and movies for
a one time fee and no more monthly TV bills.

http://marybrewst.etvcorp.hop.clickbank.net/?

6 Brilliant Property Tips on Researching a Development Site

I'm almost halfway to my managing broker course book and the book mentioned something about feasibility. I thought to share with you the email I got from Carly Crutchfield, the founder of CCORP Australia. Hi Grace, I hope you have been enjoying the bloody brilliant series so far, this week we look at part 3 of Site Analysis. So far we have covered topics such as council, titles, easements, caveats, DAs, town planners, architects, other professionals and consultants, environmental impacts, fact sheets & site coverage. This week I am going to cover sales comparables, real estate agents, demographics, building inspections, due diligence & what next. We will also look at a client case study too. Sales ComparablesOnce you get an idea of WHAT you can build on the property, you need to work out what the end retail value (ERV) will be. If you are building ten units you want to know what each of the ten will sell for. If the ten units are broken up into 1, 2, and 3 bedrooms then you need specifics of potential sales prices for each so you get an accurate ERV. You will need to check the local area to get actual comparable evidence on what similar properties are actually selling for.You want to know what sales are actually being achieved. RP data is a great source for this information. There are actually a few websites out there that can provide this sort of information, I just use RP Data myself. Sometimes it is very up to date, sometimes its not so up to date. So just hunt around and find which website works for you. If you are not ready for a membership then just pay for reports as you go for now, if you do want membership call our office and they can help you out.Real Estate AgentsAsk real estate agents for any information that they have on sales comparables. Ask what recent sales they have made of properties that are similar to what you are looking to develop. Some of the questions you would want to ask a local real estate agent: What will the market buy these properties for? What could you sell them for? Would the local market buy this sort of property? What sort of properties would the market like to see? Do you have a shortage of any sort of property? What would be a good price point for such properties? How much demand is their? How long would it talk to sell? Market Research As you can see from the above questions, the sales price is very much about the local market – what do they need and want. If you can find the real answers to this you can build something that is needed and wanted and will sell. Here is a list of some questions which can help you get to know the neighbourhood: What is the median price for dwellings in the area? What is the average square meter size per dwelling? What is the predominant demographic in the area? What is the average population? Is there a predominant culture or race? Are there local schools? Is there easy access to transport; trains, buses etc? What other developments have been done in the local area? Are they selling, or sitting there unsold? Is there shopping centers in the area? Are there childcare facilities? Is there entertainment available in the area? Is there transport to the city close by? Are there many convenience stores? Are there parks in the area? What is the future planned infrastructure for the area? Is there a local clubhouse? What are the potential negative things in the area? (such as noise, factories, jails etc) You can get answers to these by talking to local council, agents, and residents. You can also access statistics and information from the Australian Bureau of Statistics.www.abs.gov.au DemographicsWhen you look at these reports also get a view on the demographics of the local market. This helps you decide and design the style and size of the properties. Different age groups, income levels, etc will expect a different property product. Families for instance will probably want easy access for prams, more living space, extra bedrooms, outdoor space and laundries. Students will not necessarily demand all those things in a property and neither would young professionals. Here are some different demographic groups to know about: Couples Singles Professionals Young Couples Retired Families Students Young Families Grown Families Low Income Earners High Income Earners Due DiligenceOnce you gather all this information it can really help to compile it all together into a format that is easy to assess and understand. If you have files and charts and spreadsheets everywhere it can be hard to get a unified view of the potential development, a report makes it much easier to analyse the relevant information.In property development such a report is called a Due Dilligence Report or DDR. At stage two we start to form our DDR after we have done our research as above. Then when we move onto feasibility in the next stage you will be gather all the financials, which you also add to the DDR to help complete the report. A great example of someone who used local information, did research on the market and future infrastructure and found out what was needed in the area is a client of mine, Sam. Case Study: Sam Location: Drummond Cove, WATime: July 2009 to October 2011 Description: 3 residential blocks, 654m2 each - next to each other. Building one at a time Profit: $350,000 The story: Sam and her husband were looking for a development site and had done many, many feasos but nothing was stacking up. They decided to change tactic and focus on one area. They heard about the Oakajee Port project in Geraldton, WA. From this they decided to research the Drummond Cove area – they looked at factors such as medium house price, rental returns, houses for sale, proximity to the soon to be constructed Oakajee Port development. The Oakajee Port development has received a huge impetus recently with a joint federal/state government grant of greater than $600 million. Sam focused on an area that had future infrastructure plans and looked at what was needed in the area which then allowed her to create a successful development. Feasibility: She found an estate that had a few blocks for sale and purchased 3 blocks together for $300,000. She did not have to subdivide and set about doing a detailed feasibility. She consulted with builders, architects and other consultants and after doing a feasibility, it showed a margin on development cost (profit) of 27.28%. Construction costs all up were $750,000, $250k per house. Finance: Sam had difficulty getting bank finance so she decided to do one block at a time. Sam got 60% bank finance and she had to wait 12 months to get it approved. By 12 months, the land value had increased which meant that she was able to get the full amount for construction of the second house. Research: Like a lot of my clients, Sam had been doing a lot of feasibilities on possible developments and was finding it difficult to find a site. One of the most common successful solutions to this is to focus on one area and research it well. I have had many clients tell me when they finished a development that it wasn’t until they decided to focus on one area that they then found a profitable site. Sam decided to focus on Drummond Cove near the new proposed Oakajee Port project. She used RP Data & Real Estate Investar (you can get membership to both these services through CCORP) to find out information on the area and also speaking to local real estate agents and local builders. Challenges: “When we focused on our chosen area finding the site was relatively easy, but when we were looking state wide it was a bit overwhelming and sometimes disheartening.” Favourite part: “I was thrilled to finally get my construction finance approved. However, to date my favourite part has been seeing the house under construction and knowing that it will be complete in a few months.” Project Management: Sam put this whole project together herself. She doesn’t have a project manager and is managing this herself so she is heavily involved in the progress of it. Motivation: “Nothing motivates me more than a lack of cash flow and not wanting to go back to my old job, working 50-60 hours per week!” Sam also can’t wait to “pay off our mortgage and my husband will be able to retire. Also, being able to work from home and be with my kids more.” oOo Record Your ResearchYou may not end up going ahead with the property, but keeping the research could be a good idea – the property could end up on the market for a long time and go down in price, it could end up selling but come on the market again in the future. In fact that’s exactly what happened to me on a property I developed in Blaxland in NSW. More than 5 years ago myself and another developer were going to buy a house on big block and develop it into several houses. We were looking to purchase for $660k. The day we were about to sign contracts another buyer offered over $800k and we lost the deal. I thought “Ce la vie, that’s the property world”…well I may have also thrown a stapler at the wall and kicked my desk. I couldn’t understand how it could have been purchased for that price as my research showed that was too expensive, but you never know the angle someone else might be looking at. In 2009 I heard the property was back on the market, luckily I had kept all my research and information on the property and I was able to just re-open the file and update my fact sheet. I bought the property for $500k and developed it as a joint venture with 4 other partners. SummaryThe best way to understand this information is to apply it. Instead of just reading this section each month, why don’t you follow me through the next few emails by applying the information each month as we go. If you started looking for potential sites as a result as one of the last emails, now research that property using the above checklists and techniques. You have a few weeks to get all the research together and in the next few emails I will show you how to do the numbers and get down to the bottom line as we move on to Stage 3 of Property Development – Financial Feasibility. CheersCarly

Vancouver Homes continue to rise

Despite record prices, home sales in British Columbia will rise seven per cent this year compared to the last, according to a forecast report by a lender in the province.

Central 1 Credit Union said home prices will set a new record in 2011, with the median rising three per cent from last year to reach $402,000. Prices rose six per cent between 2010 and 2011. The forecast said the median will also rise one per cent in 2012, then four per cent in 2013.

Despite the uptick in sales from last year, the volume will remain below the peak levels seen between 2002-2007, said Central 1 economist and report author Bryan Yu. “Low but rising interest rates and tighter mortgage insurance rules will restrict sales for the next few years,” he said.

In the next couple of years, the lure of Vancouver pulling in new residents will slow, according to the report, with population rising 1.6 per cent this year and the next, then 1.4 per cent in 2013. International immigration will continue to rise over this time period, but it won’t be enough to offset interprovincial movement, especially to Alberta, said the report.

The biggest price gains this year will be in the Lower Mainland/Southwest, said the report, with a four per cent rise in the median in 2011, already coming off a nine per cent gain last year. Over the next three years, Cariboo and the North Coast will both see consecutive steady increases in median price, said the report.

Yu said the posted five-year fixed-term mortgage rates will range from an average 5.4 per cent in the first quarter to 5.9 per cent by the end of this year.

In terms of sales, multi-family home sales are expected to lead growth over the forecast period, especially in Metro Vancouver and the Capital region.

“In these regions, apartment condominiums comprise a more substantive component of the market, reflective of their relative affordability compared to single detached homes and proximity to transit hubs and amenities,” said the report.

By next year, there will be a renewed demand in recreational and retirement properties in the province as well, said the report.

Source from: mortgagebrokernews.ca

Rising Interest Rates Could Trigger Housing Market Collapse

Friday, 4 February 2011

Rising interest rates later this year could trigger Canada’s housing market to collapse, according to a new report by Capital Economics.

This is a sharp departure from most other forecasts that see 2011 as a steady year for housing. Capital Economics calculated Canadian home prices falling by about 25 per cent to even as much as 35 per cent over the next three years as the Bank of Canada starts to tighten its monetary policy.

Many predict the central bank to push the interest rate up to two per cent by the end of the year from its current one per cent mark, and that it’ll return to the 3.5 per cent normal level by the end of 2012.

Source: mortgagebrokernews.ca

“Even small rises in official interest rates have been shown to have a big effect on homeowner confidence in other countries under similar circumstances,” Capital Economics chief Canadian economist David Madani told The Canadian Press. “If the Bank of Canada does resume its monetary tightening this year, this could easily prove to be a tipping point for a house price collapse.”

If prices did decrease by 35 per cent, the Canadian Mortgage and Housing Corporation (CMHC) could suffer losses of $10 billion as about 10 per cent of higher risk mortgages default.
Meanwhile, for the week of Mon. Feb. 7, TD, CIBC and RBC all raised their special mortgage rates

CAAMP says mortgage fears are exaggerated

A new study released by CAAMP concludes that very few Canadians face unaffordable increases in mortgage costs and Canadian lending criteria are already tight.

The report entitled, “Revisiting the Canadian Mortgage Market – The Risk is Minimal” states that “lenders and borrowers have been highly prudent in the mortgage market … and a vast majority of borrowers have left themselves considerable room to absorb increases in interest rates.”

The study said 79 per cent of mortgages are fixed rate and mostly for terms of five years or longer, leaving 21 per cent of borrowers with variable rates and more exposure to changes in interest rates. The study was based on about 59,000 mortgage loans (excluding renewals or refinances of existing mortgages) totaling just under $16 billion, which were funded during 2010, which represents about one-quarter of the total mortgage activity.

The study reported that the average gross debt service (GDS) ratio was 19.6 per cent, well below typical lender standards of 32 or 35 per cent used to qualify borrowers. The average total debt service (TDS) was 28.9 per cent, still well below the 45 per cent lender standard.

For fixed rate mortgages the GDS was 22. 5 per cent and the TDS was 32.5 per cent.

According to the report a 2.5 per cent rise in interest rates for variable mortgages would see the average GDS would increase to 24.6 per cent and the average TDS would increase to 33.7 per cent. CAAMP’s research indicates that of the mortgages funded in 2010, only 800 to 950 would exceed the 45 per cent TDS ratio.

For fixed rate mortgages, a one per cent increase in interest rates would increase the average GDS to 22.5 per cent and the average TDS to 32.5 per cent and less than one per cent (1,000 to 1,350) would have TDS ratios of more than 45 per cent.

The Association also found that among the high ratio loans approved in 2010 – with the reduced amortization period (30 years versus the prior 35 year limit), a small minority (about 2 per cent) would have TDS ratios above 45 per cent and those loans would probably not qualify. Some of those consumers would still be able to buy, by buying lower priced homes.

The report cited job loss or reduced income as the main reason for mortgage defaults, saying that “Unaffordable premium increases are a negligible risk factor at present and in the near-to-medium term future.”

A third cause is unaffordable increases in mortgage payments, something that caused difficulty in the U.S. as low introductory rates were replaced by market rates and payments that rose substantially. Stated the report “But this third category of risk is the source of recent concerns about future threats. This study concludes that very few Canadians face unaffordable increases in mortgage costs.”

Source: mortgagebrokernews.ca

Should You Buy a Home in 2011?

Posted on January 10, 2011

Attractive mortgage rates lured more home buyers into the market in 2010. Doom and gloom predictions brought on by the HST, tighter mortgage rules and projected interest rate increases failed to materialize. While not all housing markets experienced the best of times, overall, real estate investors didn’t experience the free fall that many had feared.What are forecasters predicting in 2011?

Real Estate OrganizationsThe very nature of real estate organizations tends to favour more optimistic housing forecasts. According to a report by a national real estate sales brand and reported by the Globe and Mail, mid-size cities will see positive housing sales activity in 2011, led by Winnipeg.The Canadian Real Estate Organization (CREA) predicted in June, 2010 that this year’s home sales activity will decline slightly – dragged down by Ontario and B.C.

However, it also predicts modest housing price increases for all except these provinces. The downside of rising prices, says CREA, is that many potential buyers will be priced out of the market. Home sellers in smaller markets may benefit from the migration of buyers from expensive urban centres to more affordable neighborhoods.Financial InstitutionsTD Bank changed its forecast mid-way through last year from predicting a 1.7 percent gain in home prices to a 2.7 percent decline. Its report concurred with that of CREA, suggesting Ontario and B.C. prices would see the greatest declines.

In late December, TD adjusted its forecast again – issuing a more rosy outlook for 2011 and a decline in resale home prices of less than 1 percent.Last month, Scotiabank Global Real Estate Trends listed Canada as one of the best-performing real estate markets in its study of twelve advanced nations in 2010. The report also suggests that global economies are showing signs of stabilizing. The report predicts a flattening of Canadian home prices in the coming year; attempts by public sector agencies at fiscal restraint, combined with the burden of consumer debt, will dampen employment and discretional spending among Canadians.Beyond 2011While forecasters agree that borrowing rates are likely to remain low – at least until mid 2011, rate hikes are inevitable as the global economy wakes up – and it’s already twitching.

This isn’t a good scenario for the amateur investor; the days of making huge short-term gains in real estate investments are over, for now. However, if you’re in the market for a long-term investment, buying in at a low interest rate can save you tens of thousands of dollars in interest over the life of your mortgage. From all economic indicators, it appears that higher interest rates are on the way in 2012.What would your monthly payments be at current home prices in your neighborhood? Compare your options using CENTUM Mortgage Calculators.
Submitted by CENTUM Canada

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Real Estate Market Stable at Year End

The Greater Vancouver residential housing market entered three distinctive phases in 2010. Continued buoyancy from the post-recession recovery began the year, followed by a summer lull and, throughout the fall, a sustained period of stability.

The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2010 reached 30,595, a 14.2 per cent decrease from the 35,669 sales recorded in 2009, but a 24.2 per cent increase from the 24,626 residential sales in 2008. Last year’s number of housing sales was 10.3 per cent below the ten-year average for annual Multiple Listing Service® (MLS®) sales in the region.

The number of residential properties listed for sale on the MLS® in Greater Vancouver increased 9.7 per cent in 2010 to 58,009 compared to the 52,869 properties listed in 2009. Compared to 2008, last year’s total represents a 7.3 per cent decline compared to the 62,561 residential properties listed in 2008. The number of properties added to the MLS® peaked in April and generally declined for the remainder of the year.

“The last two years have been a bit of a rollercoaster for the real estate market. However, sales over the past six months have definitely shown a trend toward stability. We think that’s good news for home buyers and sellers,” Jake Moldowan, REBGV president said. “The Greater Vancouver housing market experienced a modest increase in home prices in 2010, and a continual decrease in the number of properties being listed for sale.”

Residential property sales in Greater Vancouver totalled 1,899 in December 2010, a decrease of 24.5 per cent from the 2,515 sales recorded in December 2009—an all time record for the month—and a 24.3 per cent decline compared to November 2010 when 2,509 home sales occurred.

More broadly, last month’s residential sales represent a 105.5 per cent increase over the 924 residential sales in December 2008, a 0.1 per cent increase compared to December 2007’s 1,897 sales, and a 12.6 per cent increase compared to the 1,686 sales in December 2006.

The residential benchmark price, as calculated by the MLSLink Housing Price Index®, for Greater Vancouver increased 2.7 per cent to $577,808 between Decembers 2009 and 2010. However, prices have decreased 2.6 per cent since hitting a peak of $593,419 in April 2010.
“Although we saw some pressure on home prices throughout the year, home values in 2010 remained relatively steady in the region compared to the last few years when we witnessed much more fluctuation,” Moldowan said.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 1,699 in December 2010. This represents a 21.1 per cent decline compared to the 2,153 units listed in December 2009 and a 43.9 per cent decline compared to November 2010 when 3,030 properties were listed.

Sales of detached properties in December 2010 reached 769, a decrease of 14.8 per cent from the 902 detached sales recorded in December 2009, and a 121.1 per cent increase from the 348 units sold in December 2008. The benchmark price for detached properties increased 4.0 per cent from December 2009 to $797,868.

Sales of apartment properties reached 811 in December 2010, a decline of 29.7 per cent compared to the 1,154 sales in December 2009, and an increase of 94.5 per cent compared to the 417 sales in December 2008.The benchmark price of an apartment property increased 1.2 per cent from December 2009 to $387,115.

Attached property sales in December 2010 totalled 319, a decline of 30.5 per cent compared to the 459 sales in December 2009, and a 100.6 per cent increase from the 159 attached properties sold in December 2008. The benchmark price of an attached unit increased 2.7 per cent between December 2009 and 2010 to $490,869.