I bet my fellow REALTORs in Vancouver would like to show homes in this.
CheersBest regards,
Dean Birks
Top Office Producer 2010
Royal LePage Prince George
250-612-1709 Sent via BlackBerry
Sunday, February 27, 2011
Now that's a lot of snow!
Best regards,
Dean Birks
Top Office Producer 2010
Royal LePage Prince George
250-612-1709 Sent via BlackBerry
Friday, February 18, 2011
March 18, 2011 - Time is running out on 35 year amortization and 90% re-finance
Below is an email I received today and thought some of you may be interested. Cheers!
Best regards Dean Birks Top Office Producer 2010
Royal LePage Prince George
Phone (Direct): 250-612-1709 www.DeanBirks.com Prince George Real Estate Oh, by the way. I'm never too busy for your referrals!
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Now that banks and lenders have raised their fixed rates across the board from .15 to .25%, the next question is... what next? Are they going to continue to rise? Quicky? Slowly? It partly depends on who you listen to and partly what you believe. The majority of people whose opinions are listened to predict that interest rates will rise sooner than later and quicker than we expect. Food prices are rising around the world fueling unrest but also attracting investment. Predictions of higher commodity prices and bond rates are causing "upward pressure" on mortgage rates. Investors in mortgages are going to place their money where it gets them the most money. Many are locking in to protect themselves against future rate increases. And that is not a bad idea. 5 year fixed mortgage rates around 4% are a very good thing. Others who feel there is still time to work the variable rates in their favor are feeling that rates will remain where they (maybe even wiggle up and down for the next while) and bank prime will remain @ 3.00% until summer. The general consensus is that as rates do rise, it will be very gradually. A gentle massage to bring the economy back to stability...predictability. The stuff plans are made of.I'm not sure what is going to happen in the next six to twelve months as I read conflicting reports. It seems as if everybody is looking through a different microscope. Facts: everyone can and will be able to purchase with 5% down. Starting March 19th maximum allowable amortization (the total length of time your mortgage payments are based on) will be reduced from 35 years to 30 years. That means the same payment will qualify for 6% less in mortgage funds.
Starting March 19th any one re-financing their home for any reason will be restricted to the same 30 year amortization and only allowed 85% of the current market value of their property. That means even with rates remaining the same, someone with a $300,000 home can access $270,000 today. On March 19th the limit will be $239,700.
Most banks and lenders have declared they will follow with the same amortization limits on their conventional deals (deals with greater than 20% down payments and not needing CMHC to back the mortgage). Those lenders who have not yet announced they will also reduce amortization limits to 30 years...will. You can count on it.
Recommendations?: Take a look at your current income and payments. If you are vulnerable to any increase in rates of variable rate mortgages or lines of credit, meaning... can you afford to gamble on hoping rates won't go up any further? If you are the least bit concerned you should review your whole financial situation now, before March 18, 2011. An opportunity like this won't be around for a long time.thanks,
Bob Quinlan, Independent Mortgage Broker
Now that banks and lenders have raised their fixed rates across the board from .15 to .25%, the next question is... what next? Are they going to continue to rise? Quicky? Slowly? It partly depends on who you listen to and partly what you believe. The majority of people whose opinions are listened to predict that interest rates will rise sooner than later and quicker than we expect. Food prices are rising around the world fueling unrest but also attracting investment. Predictions of higher commodity prices and bond rates are causing "upward pressure" on mortgage rates. Investors in mortgages are going to place their money where it gets them the most money. Many are locking in to protect themselves against future rate increases. And that is not a bad idea. 5 year fixed mortgage rates around 4% are a very good thing. Others who feel there is still time to work the variable rates in their favor are feeling that rates will remain where they (maybe even wiggle up and down for the next while) and bank prime will remain @ 3.00% until summer. The general consensus is that as rates do rise, it will be very gradually. A gentle massage to bring the economy back to stability...predictability. The stuff plans are made of.I'm not sure what is going to happen in the next six to twelve months as I read conflicting reports. It seems as if everybody is looking through a different microscope. Facts: everyone can and will be able to purchase with 5% down. Starting March 19th maximum allowable amortization (the total length of time your mortgage payments are based on) will be reduced from 35 years to 30 years. That means the same payment will qualify for 6% less in mortgage funds.
Starting March 19th any one re-financing their home for any reason will be restricted to the same 30 year amortization and only allowed 85% of the current market value of their property. That means even with rates remaining the same, someone with a $300,000 home can access $270,000 today. On March 19th the limit will be $239,700.
Most banks and lenders have declared they will follow with the same amortization limits on their conventional deals (deals with greater than 20% down payments and not needing CMHC to back the mortgage). Those lenders who have not yet announced they will also reduce amortization limits to 30 years...will. You can count on it.
Recommendations?: Take a look at your current income and payments. If you are vulnerable to any increase in rates of variable rate mortgages or lines of credit, meaning... can you afford to gamble on hoping rates won't go up any further? If you are the least bit concerned you should review your whole financial situation now, before March 18, 2011. An opportunity like this won't be around for a long time.thanks,
Bob Quinlan, Independent Mortgage Broker
Monday, February 7, 2011
This would not be possible without your help. Thanks!
Thanks once again to all my present & past clients, friends and family for trusting me to help you with your Prince George Real Estate needs in 2010. I will continue to strive to meet the high expectations you have and thank you in advance for your referred business. I look forward in helping you or someone you know to reach your/their Real Estate goals in 2011 and will be happy to answer any questions or concerns you may have.
I would never have obtained these awards without your help. Cheers!
Sunday, February 6, 2011
New Home price should cost less with HST
I just read over parts of an email I got with regards to the confusion with HST. When it comes to Real Estate and New Home construction there is allot of misunderstanding and it drives me nuts that the Home Builders Association does not do more in the way of promoting the positives for the consumer. If your looking to buy new construction the cost today should be lower. In pre-HST they had PST they could not claim back and passed on to the consumer bu now with HST they can claim back the entire tax which should be passed on to the buyers = lower price compared to pre-HST. Anyways, I am not an expert in tax but wanted to get out the general thought that HST for new construction should equal lower prices if the tax savings get passed on as they should.
Here is a new site for more info:
The HST Information Office launched www.hstinbc.ca a new website designed to put more factual information on the HST in the hands of British Columbians. Public opinion research released in December showed that there is confusion about the HST’s implications, and that a majority of British Columbians are interested in reviewing straightforward and factual information about the HST. The new website was created from a user perspective, based on a review of user surveys, site analytics and polling research. The site has an improved navigation system, so users can find facts and information faster. With a simple URL — www.hstinbc.ca — web users now have access to HST information from a consumer, family-budget, and small- or large-business perspective.
Hopes this helps! Have a super 'Super Bowl Sunday'.
Best regards Dean Birks Top Office Producer 2010
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