David's thoughts on anything real estate related


I have sold a property at 6488 COLUMBIA ST in Vancouver.
Great opportunity to own a well-designed 4 bedroom, 3.5 bathroom home just steps from Langara College. New laminate flooring on main and upper floors (not shown in photos). Spacious living and family rooms on the main floor and three bedrooms upstairs on a bright west facing corner lot with a large and levelbackyard make this an ideal family home. The one bedroom basement suite is currently rented for $650 per month. Children can attend the respected Sir William Van Horne Elementary and Eric Hamber Secondary schools. Like to play golf and work out? Langara Golf Course and the YMCA are across the street! Walking distance to Columbia and Tisdall Parks, the Canada Line to the airport, Oakridge Shopping & all the education & recreation Langara College has to offer. An amazing location at an affordable West Side price!

 Official Market Type Westside Detached: Balanced market at 16% Sales Ratio average (1.6 in 10 homes selling)

 Homes are selling on average 5% below list price

 Most Active Price Band* +/-$2 mil: $1 mil to $1.25 mil (2 in 3 selling); $2.5 mil to $2.75 mil (Balanced market)

 Buyers Best Bet* +/-$2 mil: Homes $1.75 mil to $2 mil; minimum $4.5 mil, Mackenzie Heights, South Granville and Southlands

 Sellers Best Bet*: Selling homes in Cambie, Kitsilano, Quilchena and maximum 2 bedroom properties


I have sold a property at 2401 969 RICHARDS ST in Vancouver.
Located on the 24th floor, this spectacular suite has a gourmet kitchen and extremely rare over-sized South facing balcony. Love to entertain? The open plan, anchored by the large kitchen with six burner Kitchen-Aid Architect Series gascook top and built-in convection oven, make this the ideal home to cook with, and for, your guests. The expansive living/dining area feels even larger because the massive deck is accessible from both rooms. Plus, you can keep your work space hidden away from view in the den. Some of the unique features include solid maple hardwood floors, stainless steel appliances, tons of cabinetry and closet space, custom dropped ceilings with recessed halogen lighting and a pass-through fireplace.

Applying for a mortgage can be overwhelming. To help you feel more confident, I've put together a list of the top ten most common challenges and how to avoid them.

1. Not knowing your credit rating.

Lenders can use your credit rating to verify your repayment history. As part of your approval process, your lender will obtain and review your credit report. Should you want to review your own report ahead of time, you easily request a copy from either or

2. Being unrealistic about how much you can afford to pay.

You may be under or over estimating how much you can afford to pay for a home. Start by checking my online mortgage calculator. You can input different down payment amounts to give you an idea of the maximum mortgage payment you can afford each month.

3. Not considering a firm mortgage pre-approval.

Knowing the mortgage amount you will be approved for gives you the confidence to begin looking at homes within your price range. Make sure that you are unconditionally and firmly approved.

4. Thinking you won't qualify for a mortgage.

Not sure if you qualify for a mortgage due to your credit history being less than perfect? You should still seek to get formally pre-approved, as many banks can help find a solution.

5. Not knowing all the down payment choices.

You will be glad to konw that there are different options available depending on how much down payment you can afford. Low down payment mortgages (below 20% down) require mortgage default insurance and the premium can be added to the amount you borrow. First-time homebuyers are eligible to use up to $25,000 in RRSP savings per person for a down payment

6. Focusing too much on the interest rate, rather than the overall solution.

All too often buyers give more thought to interest rates than the mortgage solution itself. While rates are a valid consideration, the type of mortgage, payment structures, terms and flexibility will have a greater impact on your overall cost of borrowing.

7. Understanding your interest rate risk tolerance.

Choosing a fixed or variable rate term can be difficult. Get expert advice to help you decide which mortgage solution works for you based on your tolerance for interest rate increases. MOst lenders now have a combination mortgage which means you can enjoy the advantages of both variable and fixed rates.

8. Not choosing your own mortgage payment schedule.

Customize your amortization period depending on how much you can afford. If you decide to take a longer amortization, consider a strategy to reduce amortization of your mortgage by making extra payments along the way.

9. Forgetting about closing costs.

It helps to know what closing costs are so you can minimize last minute complications. When calculating costs, assume you will need approximately 1.5 per cent of the purchase price.

10. Not understanding the ongoing costs of owning a home.

A suggestion is to budget a least one per cent of the home's value for yearly maintenance expenses including heating, electricity, water, repairs and taxes. If you live in a condo, keep informed about future strata fee increases or assesssments.

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