Real Estate Advisor with Engel & Völkers West Vancouver, Canada

Cindy Stanley Realty Blog Engel & Völkers West Vancouver › September 2019

Weekly Real Estate Market Stats Week #37


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Real Estate Board of Greater Vancouver

Listed: 983 (1.30 Billion)
-25.47%

Sold: 43 (44.29 Million)
-82.66%

Price Dropped: 367 (21.88 Million)
-15.44%

Fraser Valley Real Estate Board

Listed: 484 (483.43 Million)
-25.08%

Sold: 5 (3.05 Million)
-94.85%

Price Dropped: 247 (11.99 Million)
-11.79%

Chilliwack & District Real Estate Board

Listed: 96 (60.69 Million)
-16.52%

Sold: 7 (4.12 Million)
-75.86%

Price Dropped: 61(1.34 Million)
-18.67%

Courtesy of: Cindy Stanley - Engel & Völkers West Vancouver, Canada

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How to Explain Mortgage Qualifying, Pre-Approval and Approval


Mortgage Pre-Qualification vs Mortgage Pre-Approval vs Mortgage Approval

What are the differences between each stage of the mortgage process?
By Kara Kuryllowicz September 18, 2019

how to explain mortgage qualifying pre approval and approvalIn early 2019, several Canadian banks launched digital apps that offer home buyers easy, hassle-free mortgage pre-qualification in 60 seconds or less. Sounds great, right?  The problem is many consumers believe a mortgage pre-qualification is a lot like a mortgage pre-approval or mortgage approval. As a result, prospective home buyers and sellers are left expecting the financial institution associated with the app to lend them hundreds of thousands of dollars, despite the fact they simply keyed their names, addresses, contact information and gross income into various online fields.

Getting Mortgage Approval

“Every week, as many as 40% of my new clients come to me because they’ve just bought a home and discovered that mortgage pre-qualification is meaningless and that they do not have the financing required for the purchase,” says Tracy Valko, owner and principal broker of Dominion Lending Centres Valko Financial Ltd., and a director at Mortgage Professionals of Canada.



September - November Issue of GG Magazine now Available


In This Issue

gg magazine cover 09 1119 copy Je ne sais quoi is one of those wonderful French phrases that expresses the fascination with what we cannot simply put into words. So many inspiring individuals call France “home”, and their work brings out nothing but that special feeling. They run companies and create things that enrich our lives with excellence and finesse. David Holder, who took over the one and only Ladurée café in Paris when he was just 25 years old, has now expanded the brand globally and transformed the delicate and delicious Ladurée macaron into a coveted and often replicated lifestyle product. Today his café welcomes visitors from all over the world and was a site of celebration for Megan Markle’s baby shower in New York.

It would be remiss not to celebrate the architecture and beauty of France. The Fondation Maeght and the hotel and restaurant La Colombe d’Or draw art aficionados to the French Riviera. And not far away in Aix en Provence, Shirin von Wulffen and Frédéric Fekkai relax and work at their bastide, their refuge and stunning vacation home that is currently the inspiration for a new business venture. 

In the spirit of Vive la France, visit one of our Engel & Völkers shops closest to you for a complimentary copy, or click below to access the digital issue. Enjoy your read.

gg magazine read now a



June - August Issue of GG Magazine now Available


In This Issue

gg magazine cover 006 0819 It's easier than ever to hop on a plane and discover unique destinations, different countries and new cultures. The World Tourism Organization (UNWTO) estimates that in 1950 approximately 25 million tourists enjoyed international travel. In 2016, that number increased to 1.2 billion. With the advent of travel, we are given the opportunity to interact with incredible people and places from across the globe.

While we're always keen to broaden our horizons on a global scale, we also enjoy moments and locations tucked away from bustling ports and cities that can transport us to places of serenity and calm, ultimately providing a sense of home-away-from-home. In this issue, GG explores the new concept of sustainable travel, spotlighting some of the world's most exclusive destinations and resorts, from Greece to Thailand, that distinguish themselves for their fine living and service. GG also features several extraordinary individuals whose life work is set on making guest experiences absolutely unforgettable.

Whether at home or traveling, visit the shop closest to you today for a complimentary copy, or click below to access the digital issue. Enjoy your read.

gg magazine read now



The First-Time Home Buyer Incentive is Here!


Canada’s First-Time Home Buyer Incentive: Everything You Need to Know

The FTHBI is here. Learn how it can save you money on your first home purchase.
By Kara Kuryllowicz September 5, 2019

the first time home buyer incentive is here For the first time in years, Canada’s first-time buyers have a reason to feel optimistic. September 2, 2019, marked the launch of the Canadian Mortgage and Housing Corporation’s all-new First-Time Home Buyers Incentive (FTHBI), a financial incentive designed to help middle-class Canadians buy their first property.

 

The Perfect Time for the FTHBI

The timing for the FTHBI couldn’t be better. Beyond the First-Time Home Buyer Incentive itself, there are three key real estate factors that actually favour all buyers as we head into 2019, not just first-timers. Fixed mortgage rates remain at an all-time low. Most markets across the country are balanced or even a little soft. And maybe best of all (and as discussed in this recent Fall Trends article) buyers typically don’t buy homes in the lead-up to a federal election, giving first-time buyers some added leverage as markets slow before October 21.
 

“The First Time Home Buyer Incentive will reduce the monthly mortgage for your first home by up to $286,” says Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation. “This will help up to 100,000 families across Canada to buy their first home.”

Read full article... By REW Kara Kuryllowicz September 5, 2019



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