White Rock, South Surrey and Langley Real Estate Specialist!
Please visit our Open House at 203 1449 MERKLIN ST in White Rock.
OPEN HOUSE: 2-4pm
THIS HAS IT ALL! LOCATION, great square footage, lovely updates, 2 bedroom/2 bathrooms AND a sunny south-western exposure. 1,280 sq PLUS 170 sq' (19' x 9') of enclosed balcony equals over 1,400 sq' of living space. This spacious, cornersuite with fantastic floor plan features; New flooring throughout, updated kitchen with granite countertops and new appliances, large laundry room, big bedrooms and an all new mstr bathroom. Building underwent a complete Envelope restoration in 2010 including, new windows, exterior siding and rainscreening. Comes with remainder of 5yr warranty! Maintenance fee includes Heat & Hot water. If super quiet and peace of mind are what you're after, this is it!
After March 18th, 2011 the maximum ammortization period on insured mortgages will be reduced from 35 years, to 30 years as a direct result of a policy change by the Canadian Federal Government.
This wil only apply to those refinancing or purchasing new homes. These changes will mostly affect the amount of money one will be able to loan to purchase anew home as well as how much they can borrow to repay other non mortgage debts against their home.
I will be interested to see what impact these changes will have on market volatility and price direction over the coming years. Do I think these changes will have a great impact on real estate prices? No, not really. Especially in the really hot market areas such as Downtown and West Vancouver. Here's why...
There will be a large impact on the price of homes certain purchasers will be able to buy, based on their GDS. Though recent studies show only a small number of home buyers are even borrowing anywhere near the maximum they could have qualified for, even under the old regulations. Also, recent studies show that half of all borrowers are excellerating their payments (increasing their monthly payments) and paying down the principle early. Therefore, the affect on the market overall will be relatively minor.
The greatest impact will be on those in "the margin" (buyers who want to borrow the maximum allowable) as they may not qualify for the amount they require to either purchase a higher priced property, or to even get into the market they deisre to be in. I also think these changes will hurt the young professionals the most.
Again, even though I think these changes are NOT in the genearl public's best interest, I don't believe it will have a great impact in the long run. The "Hot Markets" will continue to thrive, since very few of these properties are selling for prices that even feasable for economically challenged purchasers. In fact, I believe there very well may be Upward pressure on RE prices in areas surrounding the GVRD, such as Burnaby, Surrey, Langley, White Rock etc, since these will become more affordable in relation to what buyers can borrow.
I am of the opinion that this again another ploy by our government to look good in the eyes of voters. Necessary changes... NO. Just politics mixed into our housing market!
Categories: Abbotsford East, Abbotsford | Abbotsford East, Abbotsford Real Estate | Abbotsford Real Estate | Aldergrove Langley, Langley Real Estate | Anmore, Port Moody Real Estate | Annieville, N. Delta Real Estate | Bear Creek Green Timbers, Surrey | Bolivar Heights, North Surrey Real Estate | Brighouse, Richmond Real Estate | Brookswood Langley, Langley Real Estate | Campbell Valley, Langley | Campbell Valley, Langley Real Estate | Central Abbotsford, Abbotsford Real Estate | Central Coquitlam, Coquitlam Real Estate | Chilliwack N Yale-Well, Chilliwack Real Estate | Clayton, Cloverdale | Clayton, Cloverdale Real Estate | Cloverdale | Cloverdale BC | Cloverdale BC, Cloverdale Real Estate | East Central, Maple Ridge Real Estate | East Newton, Surrey Real Estate | Eastern Hillsides, Chilliwack | Eastern Hillsides, Chilliwack Real Estate | Elgin Chantrell, South Surrey White Rock | Elgin Chantrell, South Surrey White Rock Real Estate | Fleetwood Tynehead | Fleetwood Tynehead, Surrey Real Estate | Garibaldi Highlands, Squamish Real Estate | Grandview Surrey, South Surrey White Rock Real Estate | Guildford, North Surrey Real Estate | Guildford, Surrey Real Estate | Hazelmere, South Surrey White Rock Real Estate | Hope Center, Hope Real Estate | Hope Kawkawa Lake, Hope Real Estate | King George Corridor | King George Corridor, South Surrey White Rock | King George Corridor, South Surrey White Rock Real Estate | Knight, Vancouver East Real Estate | Ladner Elementary, Ladner Real Estate | Langley | Langley City | Langley City, Langley | Langley City, Langley Real Estate | Langley Real Estate | Lincoln Park PQ, Port Coquitlam | Maple Ridge | Mission BC, Mission Real Estate | Mission-West, Mission Real Estate | Morgan Creek | Morgan Creek, South Surrey White Rock | Morgan Creek, South Surrey White Rock Real Estate | Mount Pleasant VE, Vancouver East Real Estate | Murrayville, Langley Real Estate | North Coquitlam, Coquitlam Real Estate | Pacific Douglas, South Surrey White Rock Real Estate | Panorama Ridge, Surrey | Panorama Ridge, Surrey Real Estate | Port McNeill, Vancouver Island, Vancouver Island Real Estate | Royal Heights, North Surrey Real Estate | S. Surrey Real Estate | Sapperton, New Westminster Real Estate | Sardis West Vedder Rd, Sardis Real Estate | Seymour, North Vancouver Real Estate | South Surrey White Rock Real Estate | Southwest Maple Ridge, Maple Ridge Real Estate | Sullivan Station, Surrey Real Estate | Sumas Prairie, Abbotsford Real Estate | Sunnyside Park Surrey, South Surrey White Rock Real Estate | Sunshine Hills Woods, N. Delta Real Estate | Surrey | Surrey Real Estate | Uptown NW, New Westminster Real Estate | Vancouver East | Vedder S Watson-Promontory, Sardis Real Estate | Walnut Grove, Langley | Walnut Grove, Langley Real Estate | Websters Corners, Maple Ridge Real Estate | White Rock | White Rock, South Surrey White Rock | White Rock, South Surrey White Rock Real Estate | Willoughby Heights, Langley | Willoughby Heights, Langley Real Estate