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January 20, 2017

 

Check out this educational video, part of RE/MAX Fit to Sell campaign

 

 

Did you know that RE/MAX has launched a new tech tool that is a first in the real estate market in Canada? RE/MAX of Western Canada has recently launched its new Augmented Reality feature, ‘Live View’ on the free RE/MAX mobile real estate search app. This new feature is available on iPhone and Android devices.

 How does it work? When looking through the camera view on your GPS enabled iPhone or Android phone you will be able to locate properties for sale and displays the listing information on top of the physical property that you are standing in front of. The app allows you to save the property in a list of ‘Saved Listings’ which can be connected your remax.ca account making it easy to reference while in the application or on a computer. You can also request more information on the property and have a RE/MAX agent contact you.
This app will be particularly helpful when one is looking for active condo listings in the larger buildings in the Vancouver Downtown area!
 Download the free RE/MAX application onto your device.  Visit www.remax.ca/wc/mobile.htm or the iTunes App Store or Google Play store.
 
Post CommentComments: 0Read Full Story
Vancouver continues to be one of the most interesting case studies in North America for Real Estate activity. Predictions abound about the vulnerability of the Vancouver market. Many call the hot market, "a bubble", but from where I stand, I don't see Russia...only the horizon.
 
The unique Vancouver combination of being the primary Pacific port in Canada, locked into a narrow crease of land between mountains and waterways, and being the most temperate climate in the country make it a compelling location for migrants. In deed many point to the "investor class" migrants who see Vancouver as a destination of choice in Canada as being a primary factor in rising house prices. This is just one factor among many for the climbing sticker price on Vancouver properties.
 
A year ago Vancouver was the host city to the Winter Olympics. This cast a concentrated focus on this mountain city by the sea. Not surprisingly since then, prices have continued to climb. Some neighbourhoods have seen double digit growth in already comparatively high prices. The Vancouver westside neighbourhood has some of the most expensive "dirt" in the country. Builders and investors look to purchase lots in some of the more mature neighbourhoods in the hope of tearing down the older home and building a newer luxury class dwelling. The problem continues to be that demand outpaces supply.
 
Multiple offers and bidding wars continue to push prices skyward. As long as affordability remains in reach, Vancouver will continue to demand the highest property values in Canada. Scarcity of supply that meets an overabundance of demand is always the recipe for accelerated prices. That fact doesn't appear to change anytime soon in Vancouver. Not surprising...given that this is best place on earth!
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January 20, 2017


First-time buyers interest-free down payment program


The new BC Home Owner Mortgage and Equity (HOME) Partnership program helps eligible BC residents purchase a home.

The program offers first-time home buyers who have saved a down payment:

  • A down payment loan of up to 5% of a home’s purchase price to a maximum of $37,500, on a home with a maximum price of $750,000.
  • This loan matches the buyer’s down payment and is interest-free and payment-free for five years.
  • After five years, buyers can either repay their loan or enter into monthly payments at interest rates that are current five years from the date of the loan.
  • Loans through the program are due after 25 years – the same length as most mortgages.

To qualify for the program, home buyers with a registered interest on title must reside in the home and be a:

  • Canadian citizen or permanent resident for at least five years;
  • resident of BC for at least one year immediately preceding the date of application; and
 
  Click here for larger version of infographic
 
  • first-time buyer who has not owned an interest in a residence anywhere in the world at any time.

The home buyer must:

  • use the property as their principal residence for the first five years;
  • obtain a high-ratio insured first mortgage on the property for at least 80% of the purchase price; and
  • have a combined, gross household income of all individuals on title not exceeding $150,000.

Buyers can begin gathering the documents they’ll need to submit an online application. Buyers will need:

  • Proof of status in Canada and residency in British Columbia.
  • Secondary identification (must include your photo).
  • Proof of income and tax filings.
  • Insured first mortgage pre-approval.

 

• Information and application details
• Questions and answers 

  

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