Market updates with a little golf too.

Blog entry content goes here16 months ago, I started to play golf. My first game I scored a 119. I thought this was not bad, as the others in my foursome told me their first game was in the 130's. I think they were trying to spare my feelings of sucking.

After round after round, specifically 89 rounds, here are my stats:

1. Worst Score - 119
2. Best Score - 79
3. Most holes played in one day - 63
4. Most beers drank in 1 round - 0 - I'm serious about golf!
5. # of hole in 1's - 0
6. # of birdies - lost count!
7. # of eagles - 1

If you are ever interested in coming out for a round, email me @ A great tool to analyze any property. #409 - 2962 Trethewey, Abbotsford - Purchase as a Principal Residence (no Suite)
#409 - 2962 Trethewey, Abbotsford - Purchase as a RentalHere is a great tool to analyze properties.

It's designed to create 8 reports that will replace all of those junk online mortgage calculators and excel docs that mortgage brokers hand out.

It will include the following reports:
1. Purchase a principal residence
2. Purchase a principal residence with a suite
3. Purchase a rental property
4. Purchase a rental property with rent to own
5. Refinance a principal residence
6. Refinance a principal residence with a suite
7. Refinance a rental property
8. Refinance a rental property with rent to own

It will go into the following details:
9. Down Payments - 5%, 10%, 20%
10. Income requirements - 5%, 10%, 20% down
11. Line of Credits and Re-advanceable
12. Cash flow analysis

Attached is one of the reports for a condo in Abbotsford (It's one of my listings).

Above are two pdf reports if you are purchasing as a principal residence or a rental.

Login into with code: AAAEY to get full access and never use a silly online mortgage calculator again.

Log In > Property Sheets > New = Create New Property SheetRe-advanceable MortgageRe-advanceable article [pdf]Here is a detailed article on the re-advanceable mortgage. For a quick summary, it's a mortgage that allows you to create an interest only payment @ 2.9%. For a $300,000 mortgage, your payment would be:

$300,000 x 2.9% / 12 = $725

If you do not want to pay interest only, you can also pay the principal. When ever you pay down the principal, you will have access to that amount in a form of a line of credit.

This is the basics, read the article for full details. It's a no brainier to get if you are purchasing a property in the future, refinancing or renewing.

By the way, Scotia has the best re-advanceable. July 2012 Fraser Valley Update from the BoardJuly 2012 Fraser Valley Board Stats [pdf]News Release: August 2, 2012


(Surrey, BC) – The Fraser Valley Real Estate Board processed 1,393 sales on the Multiple Listing Service® (MLS®) in July, an increase of 5 per cent compared to the 1,322 sales during the same month last year, and 5 per cent fewer than the 1,463 sales in June. At the same time, the board posted 2,938 new listings on the MLS® in July – on par with last year and just slightly more than the number received in June, resulting in July finishing with 10,813 active listings.

Scott Olson, president of the Board, says, “I keep trying to find another word other than stable, but it continues to be the best way to describe the Fraser Valley market. While our inventory remains at above-average levels, our sales are sufficiently steady to keep prices consistent.

“One factor in our favour and likely influencing our market is greater affordability. We sold 25 per cent more townhomes in July 2012 and 7 per cent more condos compared to the same month last year with over half of the townhomes selling for less than $325,000 and half of the condos for less than $210,000.”

The sale of single family detached homes in the Fraser Valley increased by only 1 per cent in July compared to last year. The area that experienced the greatest year-over-year decrease in sales – at 32 per cent – was South Surrey/White Rock where a typical single family detached home was valued at just under $880,000. “We are seeing a reduction in sales of higher-end homes. Last July was one of the busiest on record in that area, so the decrease appears sharper. South Surrey/White Rock would normally see about 100 detached homes sell in July and last month 86 sold, keeping the market competitive and prices resilient,” explains Olson.

Across the Fraser Valley, the benchmark price of a single family detached house in July was $551,400, an increase of 3.4 per cent compared to $533,400 in July 2011.

For townhouses, the benchmark price in July was $303,400, a decrease of -0.6 per cent compared to $305,200 during the same month last year. The benchmark price of apartments in Fraser Valley in July was $206,200, an increase of 2.5 per cent compared to $201,200 in July 2011.

Olson adds, “Real estate is highly local. Depending on the property type and community, prices can be up by 8 per cent or down by 5 per cent compared to a year ago. Contact Patrick O'Hanley for accurate, detailed data about your neighbourhood.”Ever Wonder What a Realtor Does?Strata Forms and Levies [pdf]Brenda Balogh from put together a great piece called “Strata Forms and Special Levies”. Here is the first paragraph:

“When purchasing a strata property, special attention must be made to the condition of the entire complex, and an inspection is always recommended to determine any deficiencies associated to a particular strata unit. The real estate professional will obtain the Strata Corporation‘s Records and The Form B Information Certificate.”

If you take a look at the pdf above, you may find it overwhelming. Going through engineering reports and strata minutes and making sense of them is the job of a skilled Realtor or a Home Inspector.

If you get into the properties from 1988 to 2001 (leaky condo era), the amount of research Realtors go through is horrendous.

For more Resources from Brenda, Register into with code AAAEY.