The market is cooling off. 

It's refreshing in many ways, and very interesting to watch.
"Moving forward for at least the next 12 months, we should see a considerably more balanced market in respect to sales / active ratio than we have seen for a long time." 

What does it all mean? 
Well, For the first time in 2 years, buyers are stepping back and taking a more relaxed approach to their offers by putting in offers that are within reason with terms. The lifted travel restrictions, Canadians are nervous about the trudeau government, The bank of Canada raising the Interest rates and rising rapidly, which obviously increases real-time costs of mortgages which in-turn decreases affordability and the future value of borrowing capability for everyone across the board especially first time home buyers.

All that said, Nothing new has really changed other then to say that the pendulum is now going to swing the other way and with inflation and daily needs prices & the rising rates, people are recognizing that they should start looking back at townhouses and condos because what does the lower mainland have an abundance? thats right, Family-sized townhouses and condos. and while market value has gone up like everything for these types of homes they are still within reach and dare I say affordable. comparatively. 

The market has been crazy to say the least the last few yrs my job is to help people find homes and as realtors we are educators and negotiators, with a job that in the exist's only to serve you.

So, Let me know, if you or anyone you know might need my real estate services. If you need any help, advice or have any questions it would be my honour and privilege to help serve you!
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SELLER FINANCING 

When it comes to financing residential real estate, most transactions follow a familiar process. The seller finds a willing buyer with the required income, employment history, and credit score to qualify for a mortgage and a lending institution puts up the money to finance the deal.

But what if traditional financing is unavailable, and the buyer and seller still want to proceed privately with the sale? They enter what's known as seller financing . As the term implies, the person who's selling the house finances the purchase.


KEY TAKEAWAYS

  • In residential real estate transactions, one option is seller financing, by which the seller finances the purchase for the buyer.
  • Seller-financed transactions can be quicker and cheaper than conventional ones.
  • Buyers need to confirm the seller is free to finance (they have no mortgage or their mortgage lender allows it) and should be prepared to make a down payment.
  • Seller financing typically runs for a shorter period than a traditional mortgage.
  • Both parties in the transaction should hire professionals to provide guidance and draw up the contract and promissory note.


How Does Seller Financing Work?

A bank isn’t involved in a seller-financed sale; the buyer and seller make the arrangements themselves. They draw up a promissory note setting out the interest rate, schedule of payments from buyer to seller, and the consequences should the buyer default on those obligations. Unlike a sale involving a mortgage, there is no transfer of the principal from buyer to seller but merely an agreement to repay that sum over time.

With only two main players involved, owner financing can be quicker and cheaper than selling a home the traditional way. There is no waiting for the bank loan officer, underwriter, and legal department, and buyers can often get into a home for less money.

The Advantages of Seller Financing

This alternative to typical financing can be useful in certain situations or in places where mortgages are hard to get. In such tight conditions, seller financing provides buyers with access to an alternative form of credit.

Sellers, in turn, can usually sell faster and without having to make costly repairs that lenders typically require. Also, because the seller is financing the sale, the property may command a higher sale price.

Lower Closing Costs

Closing costs are indeed lower for a seller-financed sale. Without a bank participating, the transaction avoids the cost of mortgage or discount points or penalties as well as origination fees and a host of other charges that lenders routinely extract during the financing process. There's also greater flexibility, at least ostensibly, about the loan provisions, from the required down payment and the interest rate to the term of the agreement.

The seller's financing typically runs only for a fairly short term, such as five years, with a ballon payment coming due at the end of that period. The theory­­­­—or the hope, at least—is that the buyer will eventually refinancing that payment with a traditional lender, armed with improved credit score and having accumulated some equity in the home.

Seller Financing for Buyers

For all the potential pluses to seller financing, transactions that use it come with risks and realities for both parties. Here's what buyers should consider before they finalize a seller-financed deal.

Don't expect better terms than with a mortgage

As the terms of a seller-financed deal are hammered out, flexibility frequently meets reality. The seller digests their financial needs and risks, including the possibility the buyer will default on the loan, with the prospect of a potentially expensive and messy eviction process.

The upshot can be sobering for the buyer. It's possible, for example, that you’ll secure a more favourable interest rate than banks are offering, but it's more likely you’ll pay more, perhaps several additional percentage points above the prevailing rate.

As a buyer, you'll probably have to provide a down payment that's comparable in size to those of a typical mortgage—that is, 20% or more of the property’s value but this can al be negotiated. You may need to sell yourself to the seller

It's smart to be transparent and straightforward about the reasons you didn’t qualify for a traditional mortgage. Some of that information may emerge anyway when the seller checks your credit history and other background data, including your employment, assets, financial claims, and references.

But make sure, too, that you point out any restrictions on your ability to borrow that may not surface during the seller's due diligence. A potential buyer who has solid credit and a sizeable down payment on hand may have recently started a new business, and so be unable to qualify for a loan for up to two years.

Be prepared to propose seller financing

Homeowners who offer seller financing often openly announce that fact in the hope of attracting buyers who don’t qualify for mortgages. If you don’t see a mention of seller financing, though, it doesn’t hurt to inquire. However, instead of asking if owner financing is an option, you might want to present a specific proposal. You could say, for example, "My offer is full price with 5% or 10 or 20% down, you decide,  seller financing for $350,000 or what ever it is at 2% 5%  6%, amortized over 30 years with a five-year ballon loan. If I don't refinance in two to three years, I will increase the rate to 7% in years four and five." Or leave that out .. point is everything is negotiable the challenge will be 1 does the seller need the cash if not does the seller understand what seller financing actually is and the benefits.

Confirm the seller is free to finance the sale

Seller financing is simplest when the seller owns the property outright; a mortgage held on the property introduces extra complications. Paying for a title search on the property will confirm that it’s accurately described in the deed and is free from a mortgage or tax liens etc.

Some mortgages have a 'due on sale' clause that prohibits the seller from selling the home without paying off the mortgage. So if a seller does owner financing and the mortgage company finds out, it will consider the home 'sold' and demand immediate payment of the debt in full, which might allow the lender to foreclose."

Seller Financing for Sellers

Keep these tips and realities in mind if you're considering financing the sale of a home.

You don’t necessarily have to finance the sale for a long time

As the seller, or if agreed in the contract may, at any point, sell the promissory note to an investor or lender, to whom the buyer then sends the payments. This can happen the same day as the closing, so the seller could get cash immediately.

In other words, sellers don't need to have the cash, nor do they have to become lenders. Be aware, however, that you will likely have to accept less than the full value of the note in order to sell it, thus reducing your return on the property. Promissory notes on properties typically sell for less

Make seller financing part of your pitch to sell the property

Because seller financing is relatively rare, promote the fact that you’re offering it, starting with the property listing. Adding the words "seller financing available" to the text will alert potential buyers and their agents that the option is on the table.

When potential buyers view your home, provide more detail about the financing arrangements. Prepare an information sheet that describes the terms of the financing.

Sellers should provide a general explanation of what seller financing is because many buyers will be unfamiliar with it.

Seek out tax advice and consider loan-servicing help

Because seller-financed deals can pose tax complications, engage a financial planner or tax expert as part of your team for the sale. Also, unless you’re experienced and comfortable as a lender, consider hiring a loan servicing company to collect monthly payments, issue statements, and carry out the other chores involved with managing a loan.

How to Structure a Seller Financing Deal

Both parties in a seller-financed deal should hire a real estate lawyer to write and review the sales contract and promissory note, along with related tasks. Try to find professionals who are experienced with seller-financed home transactions—and who have experience where you live, if possible.

The Bottom Line

Is seller financing a good option? As unusual and unfamiliar as it is to most people, seller financing can be a helpful option in a challenging real estate market. However, the arrangement triggers some special risks for buyers and sellers, and it's wise to engage professional help to mitigate those and allow the process to run smoothly. SO HIRE A REAL ESTATE LAWYER ..

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Since the mortgage stress test was introduced, it has been a hot topic for Canadian homebuyers. The stress test introduced a way for the Canadian government to protect Canadians and lenders against mortgage default and is applied to anyone who wants to begin a mortgage loan and some who are renewing.

However, although the mortgage stress test touches just about everyone who is buying a home in Canada, many people still do not understand the circumstances that lead to its creation, its purpose, and how it affects their real estate purchase.

Understanding the stress test is crucial for anyone who is looking to purchase real estate, If you are unable to pass the stress test, you will not be able to complete your home purchase – though there are ways to help yourself pass more easily. In this article, we will explain everything you need to know about the Canadian mortgage stress test.

History of the mortgage stress test

The mortgage stress test began as an idea in the mid-2010s. The purpose of the test was twofold: for one, the government wanted to prevent Canadian household debt from running rampant and for the Canadian economy to be protected from instability as a result of an overleveraged population. At the same time, house prices were on a continuous rise and the stress test offered a partial solution. By making more buyers ineligible to buy a home, the hope was that some demand in the market would be reduced.

The scope and strength of the mortgage stress test have also varied. Originally, the stress test only applied to insured mortgages but has since been expanded to uninsured mortgages as well. The minimum qualifying rate for the mortgage stress test has varied, though it has generally remained around the 5% level. The Bank of Canada adjusts the rate based on current mortgage interest rates and other market conditions.

What is the mortgage stress test? 

If you are stressing about how much studying you need to do to pass your stress test – don't be. It isn't that kind of test. Rather, the stress test is a process that your mortgage lender will apply to model how your mortgage affordability could handle an increase in rates. 

The idea is that banks want to be sure that they will be repaid when they offer a mortgage. Sure, a single default wouldn’t affect their bottom line, but a larger economic trend that causes rates to quickly increase across the board would cause defaults en masse, resulting in massive disruption. The stress test, therefore, is a means for the bank to help prevent this scenario.

Why is it needed?

The mortgage stress test is simply a way to future proof the mortgage loans that are being offered in Canada. Mortgage loans make up a huge amount of our national household debt and the housing industry is fundamental in the Canadian economy. As a result, the stress test helps to ensure that our market can remain stable and to protect our financial institutions. Events like the 2008 housing crash in the U.S. are within recent memory and are an example of what can happen when a major shock to the housing market causes effects across the wider economy.

This is particularly pertinent in the current environment of all-time low-interest rates. Though many homeowners are excited to get in on these low rates, everyone is aware that these rates are not here to stay. They will increase and it’s better to prepare for that now than to deal with the consequences later.

This doesn't mean that the Bank of Canada actually expects rates to increase to 5.25% for example, but it must be considered as a worst-case scenario.

Mortgage stress test rules

When you receive a mortgage, your lender will determine how much of a mortgage loan you can afford by examining your income levels, debt ratios, and your interest rate. Since mortgage terms are shorter than their full amortization period, and with the existence of variable-rate mortgages, you are very likely to have different rates over the course of your mortgage. Your bank needs to consider not only if you can afford a loan now, but if you can afford a loan in five, 10, 25 years, or more. Given the volatility of the market, there is no telling how rates will change so the mortgage stress test is a way to add some level of security to your loan.

The way the stress test works is pretty simple. Essentially, the lender is looking at the same calculations they would use to determine your loan affordability now but applying a higher rate to see if you can still make payments. The rate that they will use is a minimum of 5.25% currently, or your current mortgage rate plus 2%, whichever is higher. This rate is known as your qualifying rate.

It’s notable that the stress test only tests a single variable: interest rates. If your income decreases in the event of a job loss, your expenditures go up, or your debt capacity grows, you may still find yourself unable to pay your mortgage. Unfortunately, banks cannot predict these sorts of life events in all situations. The difference is that these factors tend to affect individuals, whereas rate increases affect all mortgages across the board. Therefore, the bank is more likely to be able to handle individual defaults rather than a more widespread rate increase.

Who does it apply to?

The mortgage stress test applies to just about anyone who is looking to get a mortgage today. If you are renewing your mortgage, you will not need to undergo the stress test again unless you have moved your mortgage to a new lender, in which case, they will have to apply the stress test before lending to you.

Some alternative lenders that are not federally regulated in the same way as the big lenders do not need to stress test their borrowers. However, many will still choose to utilize the stress test for their own security.

How can I pass?

If you are wanting to buy a home, you are going to have to pass the mortgage stress test. Fortunately, no mortgages are set in stone until the money is lent and there are many variables and options you have that can help you achieve your goal of homeownership by passing the mortgage stress test.

Find a lower interest rate

One of the most obvious ways would be to look for lower mortgage rates. This will only work for those who are being tested above the 5.25% benchmark qualifying rate as this is the lower limit for the stress test. Lowering your interest rate will not only help you to pass the test but will also help you pay less for your mortgage as well, which is a major benefit.

Naturally, everyone wants to get the lowest rate and it’s often out of our hands, but there are some things that you can try to change to influence your rate. For example, you may be able to improve your credit score so the bank offers you a better rate, or, you may be able to shop around with the help of a mortgage broker to find a lender that will offer you a more favourable rate. Though this may be a bit of a process (and there is no way to guarantee it will work), if you are actually able to lower your rate it will be well worth your time.

Decrease your mortgage payments or increase down payment

Another way to help yourself pass the stress test is by lowering your monthly payments. This will depend on your interest rate, but can also be affected by things like your amortization period or your down payment. If you choose to take a longer amortization period, you can pay lower monthly mortgage payments at the expense of higher interest over the life of your loan, however, it may help you pass the stress test. You can also lower your monthly payments by putting up a higher down payment. Not only can a higher down payment reduce your monthly mortgage payment, it can also offer you a lower interest rate and save you money on mortgage default insurance if you can offer a down payment of 20% or more.

Lower your debt obligations

Another way to help pass the test is to reduce debts. Your lender will considertwo different dec ratios when seeing if you qualify for a mortgage, those being the gross debt service ratio and the total debt service ratio.  Your gross debt service ratio will depend on the home price you are looking to buy, but your total debt service ratio can be lowered by reducing your other debts such as student loans, car payments, or credit card debts. If you delay your purchase for long enough to pay off some of your existing debt, it may free up enough of your income to qualify.

Use a co-applicant

You may also want to opt for applying for a mortgage with a co-applicant. This may be your spouse, a family member, or if your lender allows it, a friend or more distant family member. This can help as the lender will consider both applicants' financial situations, which can average the situation if one of the applicants has poor financials.

Increase your income

The next tip is easier said than done, which is to increase your income. Obviously, most people would do this if they could, but it is usually out of our control. If you need to make way more money to qualify, this will be tough to pull off, however, if you need just a bit more to push you over the line, you may consider a job change or a second source of income to supplement your earnings. An increase in earnings may also help you with other factors like growing your down payment.

Find a lower-priced property

Finally, you may simply need to consider other options when it comes to buying. If you have your heart set on a dream home but it's beyond your financial reality, then the hard truth is you need to move on. You will be thankful in the end when you don't end up defaulting on your loan or house-poor as a result of over-extending yourself. Consider looking at a different size of the home, a different housing type, or in a different area that may be more affordable.

Unable to qualify?

If none of the above tips work for you, there may still be some avenues open for you to get a mortgage. There are alternative lenders, such as credit unions, private lenders, and mortgage finance companies who are able to fund mortgages without needing their borrowers to pass the mortgages stress test. However, these alternative lenders know that you are more desperate for the money and that you present a much greater financial risk as a borrower. Because of this, you can expect to pay a lot more interest when going with one of these options. Seriously consider if it’s worth it when looking at alternative lenders and speak to a mortgage broker who can help you find the best options for you to protect you from any potential downfalls.

The bottom line

Though the mortgage stress test is a relatively new thing that home buyers have to contend with, it seems, for the time being, that it’s here to stay. Especially amid the high prices on homes and the huge demand, it’s important that you know about the mortgage stress test so you can get the best shot at actually buying your home. Give me a call when you are ready

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Purchasing a new home via the builder or a realtor can be a great experience.

Approximately one third of all homes sold in Canada each year are new constructions.

Exploring the presale development market is always worthwhile especially when comparing to existing homes in established neighbourhoods.

Remember that it is important to keep in mind certain aspects of the home for sale before diving into the deep.

 

1. Compare multiple presale properties
Explore the neighbourhood of which the presale home will be built.
REW.ca (Real Estate Weekly) has some tools for finding your new home in the Metro Vancouver region. Prospective homeowners can find both MLS listed homes for sale and presale developments.
Exercise due diligence when considering any particular developer or builder
Spend a lot more time to review the developer’s Disclosure Statement.
Double Check the presale contract yourself them I highly recommend getting the
contract proof read by a lawyer.
Pre-delivery home inspection shortly before the buyer takes possession of the home
Be proactive and get the home warranty in writing

 

2. Hedge the known risks
When buying a presale home in the greater Vancouver area and fraser valley the price you see provided by the developer, or marketing firm is the price before GST and Property Transfer Tax. Use a PTT and GST calculator for finding out the net cost of a potential purchase
If the real estate prices in Vancouver were to decline and the value of the presale home at the time it completes is below what was originally paid, the Buyer is still obligated to complete. In other words, the buyer may not rescind from the completion without involvement of the real estate legal system
Buyers may not get exactly what they paid for. During construction of the home, changes can occur. Very often developers protect themselves in the fine print – Ensure you have ample time to review the contract and disclosure statement
Reasonable chance of the pre-sold building to not complete on time and the completion can be delayed
Never guaranteed of a profit once the presale has been completed
If a presale home needs to be sold before completion or at the time of completion, it is especially hard to compete with other sellers when the market is low
Not every bank will fund presale homes. Some lenders will only cover the value at completion. The downside is the amount could be less depending on the market conditions
Buyers could be moving into a construction zone if there are several phases to the development site

 

3. Acknowledge the foreseen advantages
Small deposit for the interim and save cash while the development is in the works
Have the ability to customize elements, and layout of the future home
Newly built homes are covered under the Home Warranty Insurance program in BC
Home buyers are protected under the Real Estate Development Marketing Act (REDMA) and should know their rights
The value of your home can be higher upon completion in a rising market
After a down payment has been made, the developer is required to provide at least 1 year warranty to cover issues before building is complete
Get the latest trends and technologies integrated into the newly built homes.

Feel free to contact Ronald Klarenbeek any time

nowsold.ca

 

By perry cheung.

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Home improvement projects across the board are giving home owners a greater return on their investment when it comes time to sell. Find out which projects “open the door” to buyers and where remodelling dollars stretch the furthest. january 14 Erica christoffer

 

As existing-home sales and home prices make remarkable strides upward nationwide, remodeling projects are also continuing to make a comeback in a big way.

 

This is the second year in a row that all 35 projects in Remodelingmagazine’s Cost vs. Value Report saw more home improvement dollars recouped upon resale of a home than the previous year.

the biggest gain in percentage of recouped costs was the addition of a backup power generator. This project, averaging $11,742, jumped 28 percent in estimated resale value, recouping 67.5 percent of its cost in 2013. The increase is attributed in the report to 2013’s “unpredictable weather and multiple large storms.”


Top Projects

 

If you are considering a home improvement project to boost the quality and appeal of your home, here is a list of the top 10 midrange and upscale projects from the 2013-14 Cost vs. Value Report:

 

Though accurate Pease Keep in mind that these cost are an average and your costs will vary depending of course of the size of "your project" .

 

Top 10 Midrange Projects

1. Entry Door Replacement (steel)
Job Cost: $1,162
Resale Value: $1,122
Cost Recouped: 96.6%

2. Deck Addition (wood)
Job Cost: $9,539
Resale Value: $8,334
Cost Recouped: 87.4%

3. Attic Bedroom
Job Cost: $49,438
Resale Value: $41,656
Cost Recouped: 84.3%

4. Garage Door Replacement
Job Cost: $1,534
Resale Value: $1,283
Cost Recouped: 83.7%

5. Kitchen Remodel
Job Cost: $18,856
Resale Value: $15,585
Cost Recouped: 82.7%

6. Window Replacement (wood)
Job Cost: $10,926
Resale Value: $8,662
Cost Recouped: 79.3%

7. Window Replacement (vinyl)
Job Cost: $9,978
Resale Value: $7,857
Cost Recouped: 78.7%

8. Siding Replacement (vinyl)
Job Cost: $11,475
Resale Value: $8,975
Cost Recouped: 78.2%

9. Basement Remodel
Job Cost: $62,834
Resale Value: $48,777
Cost Recouped: 77.6%

10. Deck Addition (composite)
Job Cost: $15,437
Resale Value: $11,476
Cost Recouped: 74.3%

 

Top 10 Upscale Projects

 

1. Siding Replacement (fiber-cement)
Job Cost: $13,378
Resale Value: $11,645
Cost Recouped: 87.0%

2. Garage Door Replacement
Job Cost: $2,791
Resale Value: $2,315
Cost Recouped: 82.9%

3. Siding Replacement (foam-backed vinyl)
Job Cost: $14,236
Resale Value: $11,124
Cost Recouped: 78.1%

4. Window Replacement (vinyl)
Job Cost: $13,385
Resale Value: $10,252
Cost Recouped: 76.6%

5. Window Replacement (wood)
Job Cost: $16,798
Resale Value: $12,438
Cost Recouped: 74.0%

6. Grand Entrance (fiberglass)
Job Cost: $7,305
Resale Value: $5,163
Cost Recouped: 70.7%

7. Deck Addition (composite)
Job Cost: $35,158
Resale Value: $22,881
Cost Recouped: 65.1%

8. (tie) Bathroom Remodel
Job Cost: $51,374
Resale Value: $32,660
Cost Recouped: 63.6%

(tie) Major Kitchen Remodel
Job Cost: $109,935
Resale Value: $69,973
Cost Recouped: 63.6%

9. Roofing Replacement
Job Cost: $34,495
Resale Value: $21,731
Cost Recouped: 63.0%

10. Bathroom Addition
Job Cost: $72,538
Resale Value: $43,936
Cost Recouped: 60.6%

The data used in the Cost vs. Value Report was collected with the help of REALTOR® Magazine in an online survey between August and October 2013.

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Denkt U er over om naar Canada te emigreren of te verhuizen, neem dan nu kontakt op met Ronald Klarenbeek www.nowsold.ca  voor al uw makelaars zaken. www.nowsold.ca de weg naar uw nieuwe woning en toekomst.

 

Have you thought about immigrating or moving to Canada? Contact Ronald Klarenbeek now at www.nowsold.ca for all your real estate business and needs. www.nowsold.ca the road to your new home and future.

 

Please see links below for further information on immigrating to Canada:

 

http://www.canadainternational.gc.ca/netherlands-pays_bas/visas/index.aspx

 

http://www.emigratie.nl/cmsweb/over-ons/over-ons.html

 

http://www.emigreren-canada.nl/verhuisverhuizing.php

 

http://canada.nlembassy.org/organization/locations/consulate-in-vancouver.html

 

http://www.government.nl/issues/identification-documents/passports-identity-cards-and-dutch-nationality-certificates#ref-minbuza

 

http://www.canadainternational.gc.ca/netherlands-pays_bas/index.aspx

 

http://www.canadainternational.gc.ca/netherlands-pays_bas/contact-contactez.aspx

 

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Is It time for a new roof?

 

How often do you look at your roof? If you're like most people, you run in and out of the house, shuttle the kids back and forth, and glance up at the roof line only occasionally as you back out of the driveway.

But inspecting your roof regularly and making little fixes as needed can prevent some costly repairs down the road -- and keep those raindrops from falling on your head. There's another benefit, too: Keeping your roof in good condition will also be a big plus if you decide to sell your home.

 

So, what should you look for when inspecting your roof? The Professionals recommend home owners to do a roof inspection at least two times a year -- spring and fall. The best place to begin is inside your house -- grab a flash light and make a trip to the attic.

Here are four things to look for on the inside:

1) Places where the roof deck might be sagging

2) Signs of water damage or leaking

3) Dark spots and trails

4) Outside light showing through the roof.

 

Exterior check

When you take a look at the exterior of the roof, pay attention to such things as damaged flashing, missing shingles, curling, blistering, buckling, rotting and algae growth (which occurs most often in humid climates and appears as dark or greenish stains).

5) Visually inspect your roof for cracked, torn, bald or missing shingles.

6) Scan the roof for loose material or wear around chimneys, vents, pipes or other penetrations.

7) Watch out for an excessive amount of shingle granules (they look like large grains of sand) in the gutters -- this is a sign of advanced wear.

8) Check for signs of moisture, rot or mold. Note that wet spots may not be directly under your faulty shingle; water can travel down to its lowest spot before it drips. Mold, fungi and bacteria can grow quickly -- within 24 to 48 hours of a water-related problem.

9) Examine the drainage, and make sure gutters and down-spouts are securely attached. Also ensure all drains are open and allow water to exit, and all gutters and down-spouts are free of debris.

10) Check that all bath, kitchen and dryer vents go entirely outside of your home, not just into the attic space.

 

What is your roof made of?

determining when you need a new roof also depends on the roofing material as well as the part of the country in which you live. With that in mind, here are some tips on the following roofing materials:

•             Cedar: A cedar roof in need of repair or replacement will split and fall apart in dry climates. In moist climates, it will get mossy. The lifespan of a cedar roof is about 20 years.

•             Tile: "Look for broken or cracked tiles," Bennett says, "but don't walk on the roof to do so or the tiles will break. Tile roofs can last up to 100 years, but individual tiles can break. They can be replaced, but only by a specialist."

•             Concrete: should never need replacing

If you have a roof with wooden shakes, you should also watch out for damage from termites, carpenter ants and/or other wood-boring pests.

Check the simplest solutions first

If your roof has water damage, don't jump the gun and assume you need to start all over with a brand new roof.

If your roof was properly installed and is less than than 15 to 20 years old, it can often be repaired rather than replaced.

Contact Anthony with San mountain roofing 604-856-4481 to find out what they think needs to be done and to get an estimate.

 

Getting a new roof

If you do decide to go ahead and replace the whole roof, keep in mind the weather specific to your location and climate when choosing materials.

For example, wood and asphalt shingles aren't especially fire resistant -- and this could be a problem if you live near a lot of dry brush and trees. Slate, tile and metal are more expensive materials, but they are a worthwhile investment because of the extra protection they offer against fire.

If, on the other hand, snow loads are an issue where you live, you might want to consider a durable and lightweight standing-seam metal roof. These can typically cast off the snow before it becomes a problem.

But before setting your heart on slate or tile -- and we know they look really gorgeous -- realize that these are very heavy materials. Some house framing just isn't strong enough to support the extra weight of this sort of roofing.

 

Start now -- before you have no choice

Don't wait until water is unexpectedly pouring into your home by way of a leaky roof. Start protecting your home by using some simple observation skills. If you find problems, it doesn't necessarily mean you need to replace your roof. Many repairs can be made before a major rebuild is necessary.

If you do need a new roof, be aware that this isn't an average "do it yourself" type of project. It's tough work -- especially if you're taking off the old roof -- and can be dangerous, too.

 

Most people would agree that  "Having a roof over ones head" as one of life's essentials -- and there's a reason for that. It's not just a matter of practicality or aesthetics (though both of those play a part). Your roof is what keeps you and your family safe from the sun and snow, lightning and rain.

So be confident in the  knowledge that once your roof is in tip-top shape, it will stay that way for years to come.

 

Call Anthony Zandbergen with

San mountain roofing

604-856-4481

tell him Ronald sent you.

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With Fall and Winter soon on its way, I have been receiving question like "should I replace them or not, will I see a return or not" etc..   and so I have put together this quick and easy guide for upgrading your windows.

So Consider this:

If they’re doing their job properly, you should not notice the windows in your house at all, But if you are in the market for an upgrade, there are tons of options that can add value to your home and make a stylish statement.

 

Why replace your windows?
Windows play a huge role in the energy efficiency of your home, but that’s not all they do; if you’re planning on selling your house in the next year or two, new windows are a huge selling feature. They are actually one of the top five things buyers ask about the home, so the investment can and will add considerable value. New Windows also instantly create curb appeal and can make a dated exterior look fresh and modern.

The checklist

Here are some telltale signs that your windows need replacing. Inspect them regularly for the following:

  • Drafts
  • Condensation and fogging
  • Rot or mould
  • Cracked caulking


High vs. Low

When buying windows, look for:

  • High R-value – determines how well the window prevents heat loss.
  • Low emissivity – reflects the heat to the warm side of the glass.

 

  • Installation options

You have two choices for Window installation: retrofitting (inserting new windows into the existing casing) or brick-to-brick (stripping out the windows and frames and starting fresh). Retrofitting is less expensive, but brick-to-brick is the more energy-efficient option. And remember, if you’re installing a new window where one didn’t previously exist or enlarging an existing window opening, you have to get a building permit – no exceptions!

Types of windows

 

Casement
Swinging in and out like a door and operating with a crank, they offer a high level of ventilation and have a tight seal when closed. This is a great choice for hard-to-reach or awkward places because they’re easier to open.

Double-hung
One of the most common types of windows, they consist of two sashes that move up and down. They are great for ventilation and complement any style of home.

Picture
Large and fixed and usually flanked by two casements or double-hung windows, their big, dramatic shape allows for lots of natural light and unobstructed views. They can be pricey because of their size, and keep in mind that they offer no ventilation.

Bay
Made up of one large fixed window in the middle and a casement on either side, they project from an exterior wall and are a staple in many Victorian-Style homes. Take caution when installing – they’re large and heavy, meaning they need adequate structural support.

 

 

For further information or questions regarding windows upgrades contact

Anton VanDyk with Centra windows at

www.centrawindows.com

 

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While the Fraser valley Real Estate Market is getting stronger and with the guidence of professional Full Service Realtors, home owners recognize that they can not ask 2006 and 2007 prices anymore. September saw the largest year-over-year increase in property sales this year to date.

The Fraser Valley Real Estate Board processed 1,131 sales on its Multiple Listing Service® (MLS®) in September, an increase of 32% compared to the 857 sales processed during the same month last year and 10% fewer than processed in August.

Ron Todson, President of the Board, explains, “It is good news however, it’s important to put the increase into context. Our home sales in September went from the worst in 10 years to just below our 10-year average.

“It can take a year or more for the market to recover from regulatory changes such as last year’s tightening of mortgage rules introduced by the federal government. Although we are seeing evidence of first-time home buyers returning to the market, we have to keep in mind that it is more challenging now for them to get financing, so although we’re witnessing a recovery to a balanced market it is gradual.”

Todson adds, “An improvement in our sales in the Fraser Valley has not translated to an increase in home prices because inventory levels have either kept pace or depending on the property type and community are elevated.

“Your REALTOR® can provide specifics for your area, for example there is 12 months of condo inventory right now in White Rock/South Surrey, 5 months of inventory for single family homes in North Delta and only 3 and a half months of townhouse inventory in Langley. Real estate is local so to understand your market, talk to an expert.”

In September, the benchmark price of single family detached homes in the Fraser Valley was $552,900, a 0.6% increase compared to $549,500 during the same month last year. For townhouses, the benchmark price was $296,200, a decrease of 1.4% compared to $300,500 in September 2012 and the benchmark price of apartments was $203,100, 1.9% less than in September 2012 when it was $207,000.

The Board received 2,375 new listings in September, a decrease of 7% compared to the 2,544 new listings received during the same month last year – leaving the volume of active properties at 9,875 a decrease of 5% compared to September 2012 and the lowest it’s been since March of this year.

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Welcome to the launch of my new site,

I am very excited about how site has turned out and am looking forward to all your comments.

I have tried my very best to make this site as simple and user friednly as possible.

If you have any question about buying or selling or need more info on any part of the real estate process.

I have the answers here at nowsold.ca for you.

Enjoy, and please feel free to leave me a comment if you would like to see any changes or improvements to make your experience with me or the site a better user one.


Best wishes.


Ronald 

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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.