Here we are. Another year has gone by and we have seen the most drastic ups and downs in local real estate in some time.

Is it over? Will it level off for some time? Will the rates go up?

Questions, questions and more questions. No one has the righ answer, but everyone is ready to give you an opinion. I love the expwerst. Doom and gloom wass predicted by the so called experts for the Canadian real estate market in Octobwr and November, by some US real estae market gurus.

Well it didn't come to pass. Why? Simple. You can't paint the whole worlds with the same brush. Juast because the US mortgage lenders and greedy financial instituions drove the US housing market into a recession, at a cost of millions of dollars and much pain and suffering to the general public, they had no idea or knowledge of how the Canadian real estate market and it's lending policies work.

But they were THE gurus. And a lot of people believed them.

I didn't, and in my February 27th, 2009 post, I suggested to get ready to buy. The conditions are ideal, get approved and  cock your gun. By the end of March, the market is moving and the buyers who were ready got tremendous deals.

So if I was to predict the market for next year, here is what I would say.

If you are thinking of buying get approved and find the best deal you can with a help of a good knowlegeable buyers agent. They are free and can save you money. Buy now. Make sure your choice is sound and has a future upside to it. Are there places like that now? Absolutely!

I believe with the rates where they are now, up and at least to the end of June, this is a great period to buy. Increased rates will bring additional costs andd higher mortgage payments. And I also think that the prices can go up another 3-5% in 2010. For 2011, the guru's have already said that we should expect higbher prices.

So much for now.

I wish everyone the very best in health and hapiness!

So, go and BUY a HOUSE!

If you are looking to Buy or to Sell real estate in Vancouver area, give me a call. My consultations are FREE. The benefits to You, may be worth a lot of money.
Call Jeff Stark at 604-506-8481or email me at

http://www.jeffreystark.net

Sometimes life presents you with a situation, and most times we don't understand or don't want to understand.

We rather believe our pre-conceived ideas.

Danny Griffin says it so well.

Or you can read Danny Griffin's Monday Morning Mojo  here..

If you are looking to Buy or to Sell real estate in Vancouver area, give me a call. My consultations are FREE. The benefits to You, may be worth a lot of money.
Call Jeff Stark at 604-506-8481 or email me at jeff@jeffreystark.net

Thinking of Selling your home?

 So you are ready to renovate. Found the old house with lots of potential and a big dream.

Just make sure you have enough money to get it done.

Avoid the 5 most important mistakes home renovators make.

1/ Using the wrong general contractor.
    make sure to check his background and get some referrals if possible. But, if he doesn't come across as trustworthy, don't hire him It could be a big mistake

2/ Getting bids with no specs/design.
    If you don't have proper specs or a good design, you are looking for big trouble. How are you going to figure out what the contractor is doing and why?  If you don't have any specs you are open to a lot of extras. And you know what that means. Extra cost, that's what it means.

3/ Losing sight of your dream and budget, and acting on impulses. Impulses are costly. Keep them controlled. You better spend extra time planning than winging it.

4/ Changing the plan.
    Delays, extra costs and impatient contractors who are losing time with sometimes small inconsequential changes.

5/ Ignoring the hidden things.
    It is nice to be picking the paint colors, but make sure you keep an eye on the job from day one. Make sure you are getting what you pay for, in the materials used on the job. That may save you a lot of trouble down the road.

And now, whatch the video.

If you are looking to Buy or to Sell real estate in Vancouver area, give me a call. My consultations are FREE. The benefits to You, may be worth a lot of money.
Call Jeff Stark at 604-506-8481 or email me at jeff@jeffreystark.net

Sunday Province

August 16th, 2009

Dear Condo Smarts: What do you do when you have an owner that is always costing your strata money? At our annual general meeting in June, we almost elected a great council. The exception was an owner who caused so much trouble that when she was nominated and elected (because we didn't have more than seven nominated), the five remaining council members immediately resigned. The last lawsuit she caused left us $20,000 poorer because she refused an alteration to the interior of a unit for a special needs person. Help.

- Jenny, Abbotsford

Dear Jenny: If you apply the Standard Bylaws and Section 50 of the Act, you will discover two distinct provisions that will help you . The first is that in the Standard Bylaws, there is only a requirement for your strata to have a minimum of three and a maximum of seven council members. It is not mandatory to elect seven. Many strata corporations feel obliged to accept everyone just because they are nominated. This is not true unless your bylaws specifically require that all seven positions must be filled.

Section 50 of the Act is the second part. At general meetings, matters are decided by a majority vote, unless a higher vote is required for a 3/4 vote or unanimous resolution in the Act or regulations.

So the strata corporation by majority votes, then decides who is elected to council. Whether you do this by secret ballot or by show of hands, the result is that those persons who are elected by a majority of the votes cast for or against the resolution will determine who is elected to council.

There is no provision in the Act or the bylaws for acclamation by nomination. It still requires a majority vote of the owners to elect those nominated.

A word of caution: Many strata corporations have adopted different governance bylaws that address elections, nominating committees and voting thresholds for council election or removal, so double-check your bylaws first. It is also helpful for strata corporations to adopt bylaws that address voting eligibility. If the strata corporation is entitled to file a lien against a strata lot, a nominee is not eligible to be elected to council or to continue to sit on council with the proper bylaw amendments.

Lastly, before you elect someone to council, make sure they are eligible. I did a title search on the unit of this council member and discovered she is not on title. She is the spouse of an owner and, because the strata have no bylaws permitting the spouse of an owner to be elected, she is ineligible to be on council. The strata could have saved a lot of time and trouble just by asking her ownership status.

By: Tony Gioventu is executive director of the Condominium Home Owners' Association.

If you are looking to Buy or to Sell real estate in Vancouver area, give me a call. My consultations are FREE. The benefits to You, may be worth a lot of money.
Call Jeff Stark at 604-506-8481 or email me at jeff@jeffreystark.net

According to my mortgage broker good deals are here to stay.

It doesn't seem like the rates are going to increase in the near future.

However, you never know for sure. The best way is to get pre-approved NOW!. It doesn't cost you anything to get pre-approved, and you will know what your rate is when the time comes to write that deal.

"Hopefully the down trend continues. Some excellent specials you and your clients that don't have holds

might want to be aware of. Note these are for live deals - principle residence and could be pulled any time with some restrictions. No holds/pre-approvals.

4.09% 5 year fixed - I'm sold that 5 year is the way to go.

3.99% 5 year fixed if mortgage over $500,000
3.85% 4 Year fixed
3.39% 3 year fixed

Variable:

If riding prime and plan to lock-in this is the best deal out there:

2.40% 3 year variable Prime + 0.15% -  lock-in to best discount at any time.

2.55% Prime + 0.30% - 5 year variable - lock-in to best discount at any time.

 Courtesy of:
Greg Viger
Mortgage Expert, AMP
greg@yourmb.com

If you are looking to Buy or to Sell real estate in Vancouver area, give me a call. My consultations are FREE. The benefits to You, may be worth a lot of money.
Call Jeff Stark at 604-506-8481 or email me at jeff@jeffreystark.net