There are some things we never think of, so it is always good to be reminded of what and who we are.

Check out my good friends Danny Griffin, Monday morning MOJO

I help buyers avoid costly mistakes in purchasing a property and sellers with possible pitfalls in selling.

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 at604-506-8481 or email me at jeff@jeffreystark.net

Tougher mortgage rules to cut down default risks

Date: Tue. Feb. 16 2010 10:52 AM ET

Ottawa has tightened the rules for obtaining a government-backed mortgage, as it casts an eye towards expected future interest rate increases and the risks those pose for Canadian homeowners.

Finance Minister Jim Flaherty announced Tuesday morning that prospective homeowners will soon have to meet the requirements for a five-year, fixed rate mortgage -- as opposed to the three-year standard in place right now. The rule will apply even if they choose a mortgage with a lower interest rate and shorter term.

for more .....

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

Check out Vancouver Distress properties. Free list with pictures

For some time now, and since the new Strata Property Act was brought in in July 2000, any Buyers  of Strata properties had to abide by the Bylaws regulating the rental of strata units. The rental Disclosure document, or form "J", filed by the Developer usually indicated the length of time that the units will be designated as rentals. This could be limited to several years or indefinite.

This meant that a buyer of a unit in a Strata, purchasing from the Developer, (first buyer), had a right to rent his unit for the period of time that the Form "J" specified, regardless of any changes in Bylaws limiting the rentals.

However, the second buyer, (buying as a resale) did not have that right. If restrictions to rentals had been voted in by the Strata Corporation, the second Buyer would have to abide by these  changes.

As of Jan 1, 2010, the Strata Property Act was changed, which will make it easier for the second buyer to be an investor, because the only governing document they will have to abide to is the Form "J" and it's limitations.

This explanation, courtesy of
Spagnuolo & Company Real Estate Lawyers

There has been a shortage of rental units for years in British Columbia. In order to address this, the Provincial Government recently passed legislation dealing with the rental provisions of the Strata Property Act ("SPA").

Under the old section 143 of the SPA, a rental restriction bylaw passed by a Strata Corporation did not apply to that strata lot until the strata lot was conveyed by the first owner after the developer or until the date that the rental period disclosed in the RDS expired, whichever was earlier. Essentially the first owner was always able to rent out the strata unit until the expiration of the rental period disclosed in the RDS, but not subsequent owners.

Pursuant to the amended Section 143 of the SPA, for a new RDS filed after December 31, 2009, a rental restriction bylaw will not apply to that strata lot until the date that the rental period disclosed in the RDS expires. This expiration is usually a long time away: perhaps 99 years or even indefinite.

Therefore, practically speaking, starting January 1, 2010, a new RDS will benefit every subsequent owner of that strata lot rather than just the first owner after the developer. All future owners will be able to rent the strata lot without being subject to any rental restriction bylaw for as long as the rental period disclosed in the new RDS allows them to.

This does not apply to strata buildings where the RDS was filed prior to Dec. 31, 2009.

 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

An unusual and different view of the city and it's Olympic venues.

The pictures are a development by a Vancouver company Photobubles

Photo Bubbles specializes in the art of creating full 360 spherical photography.
Traditionally, still flat photography has been used to capture the feel of an environment or event.

Today, still photography has been redefined, and has evolved into an interactive panoramic experience allowing the viewer to fully immerse themselves in any visual environment.
This superior technology is achieved by using professional high quality digital SLR cameras, and special performance lenses.

The finished product is a seamless 360 virtual spherical tour, with properly exposed images and "fullscreen" capabilites.
Located in Vancouver, B.C, Canada, we provide services that reach a global audience, and our cutting edge images are created with the express purpose of adding a new dimension to your online market niche.
Photo Bubbles fresh perspective will let you show the world.

Don't miss this.

Jeff

  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

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