Raymar is pleased to offer a spacious and bright 680 square foot one bedroom in Steveston Village.  Great for owner to live in or rent out as there are no rental restrictions.  The unit is in excellent condtion with granite counters, stainless steel appliances with new fridge and dishwasher.  Well maintianed laminate hardwood floors, master with walk-in closet, large balcony perfect for summer BBQ's. Open Sunday March 4th 2-4pm. 

Raymar is pleased to announce their sponsorship with Lotus Cycling Club which is one of Vancouver's premier cycling clubs.  With a diverse group of over 100 cycling enthusiasts, Raymar shares Lotus Cycling Club's core values and vision to promote a healthy and active lifestyle with integrity, community involvement and social responsibility. Check out the new website at http://lotuscyclingclub.com #Vancouver#Community#Sponsorship#VancouverCycling#lotuscyclingclub

Premier Christy Clark unveiled a new loan program today to help first-time home buyers come up with their down payment.

The BC Home Owner Mortgage and Equity (HOME) Partnership program will offer qualifying home buyers loans of up to $37,500, interest and payment free, for five years.

The province will begin accepting applications on January 16, 2017.

To qualify, buyers must:

• be buying their first home;

• obtain a high-ratio, insured first mortgage for at least 80 per cent of the purchase price;  

• have a combined gross household income not exceeding $150,000;

• have saved a down payment amount at least equal to the loan amount;

• be a Canadian citizen or permanent resident for at least five years; and

• have lived in BC for at least the full year preceding their application.

The loans will be due in full if the buyer defaults on a payment, ceases to use the home as a principle residence or resells the home.

Key facts:

• The loans will match a home buyer’s contribution to a down payment up to five per cent of the home’s purchase price. 

• The maximum purchase price to qualify for a loan is $750,000 (excluding taxes and fees).

• After five years, buyers can either repay their loan or enter into monthly payments at current interest rates.

• Loans through the program are due after 25 years.

“This program will boost sales to first-time home buyers. Without question, they’ll take advantage of it wherever they can,” said Helmut Pastrick, Central 1 Credit Union chief economist.

The province estimates this initiative will help at least 42,000 buyers or households province-wide over the next three years. About half of these buyers will be in the Lower Mainland, according to Pastrick.

Government data shows foreign buyers make up five per cent of Metro Vancouver market

Do you have a renovation project in mind – and wonder how much value it will add to your home? Remodeling Magazine recently did a study of renovation projects, comparing costs to added value. Here are some of the
results:

Replacing a main entry door has a return on investment of over 95%. After all, the entrance to a home is one of the first things a prospective buyer notices.

Adding a new deck also adds a lot of value. Depending on the materials used, you can expect to get back three-quarters of the money invested.

Another high-payback project is the garage door. This once again demonstrates the importance of a home’s “curb appeal.”

If you’re tackling a big project, such as a basement renovation, you’ll be glad to know that, according to the study, a project like this adds a lot of value.

Finally, minor improvements to bathrooms and kitchens – such as adding new countertops or cupboards, can also be good investments that mostly pay back when you sell your home.

Of course, these figures are averages and can vary widely depending on location, type of property, and other factors.

Need help determining how a particular home improvement might impact the selling price? Call today.

Come visit my new listing at the Destiny this Sunday March 30th from 2-4pm.  This is a one year old 2bdrm and den penthouse unit.  16 ft. ceilings with floor to ceiling windows and a huge deck with natural gas hookup.  High end Kitchen aid appliance package including a gas cooktop and wine fridge. Bright and peaceful outlook towards the green belt.  If you like quiet and ultimate privacy this is the unit for you.  2 parking and storage locker.

Great news today for first-time buyers!

"The government has announced, effective February 19, 2014, under the Property Transfer Tax (PTT) First-Time Home Buyers’ Exemption program, qualifying first-time buyers can buy a home worth up to $475,000. The previous threshold was $425,000. The partial exemption continues and will apply to homes valued between $475,000 and $500,000."

This change has been long overdue and will be welcome by first time buyers.