SOLD 10740 Gilmore Crescent: 3 Bed 2 Bath Rancher for Sale in Richmond BC

This Property is now SOLD

10740 Gilmore Crescent
Richmond BC, V6X 1X4, Canada

RICHMOND BC HOMES
GREATER VANCOUVER BC REAL ESTATE FOR SALE
House | Townhouse | Apartments-Condos | Real Estate
Richmond | Vancouver | Ladner | Tsawwassen

Thank you for visiting our video. We specialize in the purchase and sale of residential housing in Richmond, British Columbia. Whether you are relocating within Richmond, searching for an investment property, or leaving Richmond for another area, my experience can help you make the right decisions. Please contact us or take your time exploring my channel and make use of the resources available to you.

Please visit:
http://www.michaelcowling.com or
http://www.michaelcowling.com/10740-gilmore-crescent-richmond-bc/
for more information.
Call Michael Cowling at 604-276-2335 or email him at mc@michaelcowling.com for showings.

Property Information:
Sub Area: Bridgeport
MLS® No.: V1076068
Bedrooms: 3
Bathrooms: 2
Total sq.ft.: 1,842
Lot sq.ft.: 6,928

Description:
Well-kept rancher style home with loft on a large 6928 SF lot. This bright and airy home offers engineered hardwood floors, very large entertaining sized Living, Dining and Family rooms with vaulted ceilings and loft space above. The conservatory offers a hot tub overlooking the maintained large backyard space. Great location in central Richmond, close to Tait Elementary school and walking distance to Costco, the River Rock Casino, Richmond Nightmarket and T&T Supermarket

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RE/MAX Michael Cowling And Associates Realty
Serving Richmond, Vancouver, Ladner, and Tsawwassen
http://www.michaelcowling.com

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Are Low Mortgage Rates the New Normal?

Low long-term interest rates and heightened competition in the mortgage market pushed both posted and discounted mortgage rates to record lows during the second quarter. The posted five-year fixed rate reached a historical low of 4.79 per cent in May and many lenders have advertised sub-3 per cent five-year fixed rates as well as steeply discounted variable rates.

Disappointing first quarter economic growth both in Canada and in the United States, where the economy actually contracted to start the year, are helping to maintain low bond yields in both countries.

In particular, yields on five-year Government of Canada bonds, the key benchmark for pricing mortgages, remains approximately 30 to 40 basis points lower than at the start of the year.

As the economy improves and the spring home-buying season comes to a close, we expect that mortgage rates will be pulled higher. However, the current spread between the five-year posted rate and the yield on five year Government of Canada bonds remains elevated.

This suggests that a rise in bond yields would exert only modest pressure on mortgage rates.

Our forecast is for the five-year fixed rate to retrace above five per cent in the third and fourth quarter, ending the year at 5.14 per cent. The one-year mortgage rate is expected to remain close to its current level of 3.14 per cent for the remainder of the year.

Economic Outlook

The Canadian economy sputtered to start 2014, growing just 1.2 per cent in the first quarter. Economic growth was pulled lower by a slowing of household spending and a drag on export growth from weakness in the United States. However, there are good reasons to believe that these trends will prove temporary in nature.

Disappointing growth in the first quarter was due to unusually severe winter weather in both Canada and the United States, which kept consumers at home, and construction projects delayed.

Incoming economic data from the US points to a strong second quarter rebound and we expect growth in our largest trading partner to accelerate above 3 per cent for the remainder of the year.

Combined with a low Canadian dollar, stronger growth in the US economy should propel Canadian exports and business investment higher, which would help to offset any further slowing of consumption spending or residential investment. Even with a slow start, we are forecasting that the Canadian economy will expand close to 2.5 per cent in both 2014 and 2015.

Interest Rate Outlook

Inflation in Canada has moved materially higher in recent months, driven by a substantial increase in energy costs. The impact of higher energy prices on headline CPI should fade later this year and the Bank of Canada has already suggested it will look past the transitory increase in inflation.

However, there does seem to be some underlying momentum in core CPI, the Bank’s preferred inflation measure, which if sustained will be much harder for policy makers to ignore.

For now, we anticipate the Bank will remain on hold, leaving rates unchanged until 2015. Once the Bank does move from the sideline, there is a growing consensus that the new normal for interest rates is much lower than it used to be. Although it can fluctuate in the short-run, a “normal” interest rate, in particular the rate set by the Bank of Canada, should be roughly in-line with the rate of potential economic growth in the economy.

The potential rate of growth for Canada has been slowing in recent years due to a number of factors including low productivity growth, the lingering impact of the global financial crisis, and an aging workforce. As growth of the Canadian labour force slows, the rate of growth in goods and services that can be produced in the Canadian economy will almost certainly decline. The implication being that economic growth going forward may be a little slower than in previous eras. Therefore, the appropriate level of interest rates for the Canadian economy may be lower than in the past.

Source: British Columbia Real Estate Association

SOLD! 5420 Wagtail Avenue: 4 Bed 3 Bath Home for Sale in Richmond BC

This one is SOLD

5420 Wagtail Avenue
Richmond BC, V7E 4V9, Canada

RICHMOND BC HOMES
GREATER VANCOUVER BC REAL ESTATE FOR SALE
House | Townhouse | Apartments-Condos | Real Estate
Richmond | Vancouver | Ladner | Tsawwassen

Thank you for visiting our video. We specialize in the purchase and sale of residential housing in Richmond, British Columbia. Whether you are relocating within Richmond, searching for an investment property, or leaving Richmond for another area, my experience can help you make the right decisions. Please contact us or take your time exploring my channel and make use of the resources available to you.

Please visit:
http://www.michaelcowling.com or
http://www.michaelcowling.com/5420-wagtail-avenue-richmond-bc/
for more information.
Call Michael Cowling at 604-276-2335 or email him at mc@michaelcowling.com for showings.

Property Information:
Sub Area: Westwind
MLS® No.: V1073288
Bedrooms: 4
Bathrooms: 3
Total sq.ft.: 1,738
Lot sq.ft: 5,220


Description:
Westwind Grezmiel built Westcoast Contemporary split level. Very bright & clean 4 bedroom home. Lots of updating, south backyard. Excellent neighbourhood, Westwind Elementary, walking distance to Steveston Village and all amenities.

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RE/MAX Michael Cowling And Associates Realty
Serving Richmond, Vancouver, Ladner, and Tsawwassen
http://www.michaelcowling.com

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SOLD: 9322 Romaniuk Dirve 3 Bed 3 Bath Home for Sale in Richmond BC

This one is SOLD

9322 Romaniuk Drive
Richmond BC, V7E 5G7, Canada

RICHMOND BC HOMES
GREATER VANCOUVER BC REAL ESTATE FOR SALE
House | Townhouse | Apartments-Condos | Real Estate
Richmond | Vancouver | Ladner | Tsawwassen

Thank you for visiting our video. We specialize in the purchase and sale of residential housing in Richmond, British Columbia. Whether you are relocating within Richmond, searching for an investment property, or leaving Richmond for another area, my experience can help you make the right decisions. Please contact us or take your time exploring my channel and make use of the resources available to you.

Please visit:
http://www.michaelcowling.com or
http://www.michaelcowling.com/9322-romaniuk-drive-richmond-bc/
for more information.
Call Michael Cowling at 604-276-2335 or email him at mc@michaelcowling.com for showings.

Property Information:
Sub Area: Woodwards - Blundell
MLS® No.:
Bedrooms: 3
Bathrooms: 3
Total sq.ft.: 1,902
Lot sq. ft.: 4,860


Description:
Popular Woodwards area. Perfect home for family and entertaining. Tastefully renovated & well-appointed with cherry laminate, granite countertops, stainless steel appliances, gorgeous moulding, wonderful fixtures and the latest designer colours in and out to tie it all together. This corner home has been very well maintained with newer high efficiency furnace, windows, toilets, sinks, fixtures and hardware. Relax on the outside patio or play a game of volleyball in the fenced backyard while listening to your favourite music on the indoor/outdoor speakers. Everything is done - all you have to do is move-in. Close to Jessie Wowk Elementary and Steveston-London High School. All amenities just steps away at the Blundell Shopping Centre.

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RE/MAX Michael Cowling And Associates Realty
Serving Richmond, Vancouver, Ladner, and Tsawwassen
http://www.michaelcowling.com

FOLLOW me on FACEBOOK
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Should you get pre-approved for a mortgage? Ten things to know

Putting your full faith in a mortgage pre-approval is like betting on a heavy favorite in a horse race. You’ll probably win but there’s room for major disappointment.

Sure, pre-approvals have benefits.

• The best ones accurately measure your qualifications and how much house you can afford.
• Their 90- to 120-day rate guarantees protect you if rates rocket up while you’re home hunting.
• They make you seem more serious to sellers and real estate agents. (In competitive bidding situations, they’re almost mandatory.)
• They’re free and there’s no obligation to use the lender that pre-approved you.

But here’s the problem: pre-approvals are not full approvals. So if you’re going to rely on one, you need to understand their limitations.

Here are 10 pre-approval facts every mortgage shopper should know:

1. Pre-approvals aren’t created equal.Many lenders don’t review your qualifications when issuing a pre-approval. They provide only a rate guarantee, subject to later approval. (Mortgage advisers should always disclose this.)

“I would caution consumers when a lender only holds a rate, versus asking for documents and confirming qualification,” says Rob Regan-Pollock, a mortgage broker with Invis. “It’s heartbreaking to be told by a lender they cannot qualify after being told they were ‘pre-approved’.”

2. Advice goes only so far.
Mortgage advisers can “pre-qualify” you to confirm that you meet general guidelines, but only a lender’s underwriter can confirm that your income, down payment, purchase agreement, property information, credit and debt ratios meet their full approval

Unless you have a 20 per cent down payment from your own resources, rock-solid employment, provable income, pristine credit, and low debt, then pick a lender that reviews your application and preferably your documentation before granting its pre-approval.

3. Appraisals are the missing link.Appraisals aren’t done at the pre-approval stage. But they’re mandatory for getting a mortgage. The issue, of course, is that you can’t get an appraisal on a home you haven’t found yet. And that’s the big risk with pre-approvals. If the lender's or mortgage insurer's valuation appraisal reveals that you overpaid, or the property has defects, it can render your pre-approval worthless. That’s why you’re always wise to insert financing conditions in your purchase offer (or at least appraisal conditions) or get an appraisal before you make an offer.

Adding a financing condition is especially important if you’re putting down less than 20 per cent, which typically requires an insured mortgage. That’s because default insurers like CMHC don’t even look at pre-approvals. They can decline you or your property for any number of reasons, leaving those without financing conditions at risk of not closing, losing their deposit and being sued.

4. Don’t over-rely on appraisers.Even if you get an appraisal before making your offer, “you can’t rely on appraisers to identify every problem with a property,” says Jason Upton, president of Aedis Appraisals. That’s especially true for condos where most appraisers (due to cost and time constraints) won’t review condo board minutes, condo finances and engineering reports. That’s where risks like special levies, reserve deficiencies, legal problems or structural issues can turn up, all of which can kill a lender’s interest and make a pre-approval worthless.

5. Your actions after pre-approval matter.
Beware that missing payments, adding debt, changing jobs, moving around your down payment money or co-signing for someone, among other things, can void your pre-approval.

6. Pre-approvals don’t come with the best rates.
Statistically, only around one in six pre-approved homeowners actually take the mortgage they got pre-approved for. But the lender still has costs (like rate hedging and application processing costs) for the five in six pre-approved mortgages that don’t close.

Given this expense, pre-approvals don’t typically come with the best pricing. They’re often 0.10 to 0.15 percentage points above market rates – which is peanuts compared to your costs if rates soar and you’re not pre-approved.

That said, the best mortgage rates are often for 30- or 45-day closings. Check rates 30 days before closing. If they’re more than 0.10 percentage points below your pre-approval rate, ask your lender to match them. If they won’t, consider re-applying elsewhere. But avoid trading a flexible mortgage for a restrictive one that’s only marginally cheaper. Homeowners routinely underestimate their need for refinancing flexibility later.

7. Sometimes waiting pays.If you’re very well qualified, a mortgage broker can sometimes time the submission of your pre-approval to get you better rates. “If rates are flat or trending down, the discussion with the client becomes one of monitoring the market and not actually submitting the file until they are within the window of [rate] specials,” Mr. Regan-Pollock says.

8. Reset if appropriate.If rates have stayed low and you’re still actively home hunting, reset your pre-approval every 45 to 75 days. This extends your rate hold, protecting you if rates jump before you close. If your lender restricts rate resets, you might need to look elsewhere.

9. Get a second pre-approval, if needed.Lenders don’t issue more than one pre-approval at a time. So if 45 to 60 days have elapsed, rates have jumped, and you need more time to find a home, consider getting a second pre-approval elsewhere. On the other hand, if you know you won’t close within your original pre-approval’s time frame, save time and try to reset the rate hold period with the existing lender.

10. Features matter.Choose the pre-approval with the longest rate hold (e.g., 120 days), the deepest discount rate, full underwriting and the best mortgage features (i.e., good prepayments, a fair penalty, good port and refinance policies, etc.). Only a minority of lenders meet this criteria.

(Source: Robert McLister a mortgage planner at intelliMortgage Inc)

SOLD 4091 Williams Road: 4 Bed 3 Bath Home for Sale in Richmond BC

4091 Williams Road
Richmond BC, V7E 1J7, Canada

RICHMOND BC HOMES
GREATER VANCOUVER BC REAL ESTATE FOR SALE
House | Townhouse | Apartments-Condos | Real Estate
Richmond | Vancouver | Ladner | Tsawwassen

Thank you for visiting our video. We specialize in the purchase and sale of residential housing in Richmond, British Columbia. Whether you are relocating within Richmond, searching for an investment property, or leaving Richmond for another area, my experience can help you make the right decisions. Please contact us or take your time exploring my channel and make use of the resources available to you.

Please visit:
http://www.michaelcowling.com or
http://www.michaelcowling.com/4091-williams-road-richmond-bc.
for more information.
Call Michael Cowling at 604-276-2335 or email him at mc@michaelcowling.com for showings.

Property Information:
Sub Area: Boyd Park
MLS® No.: V1070401
Bedrooms: 4
Bathrooms: 3
Total sq.ft.: 2525


Description:
Endless Possibilities in this well-kept 4 bedroom and den family home in popular Boyd Park neighbourhood. Vaulted ceilings in living room and master bedroom. Two walk out decks from master; one with Hot Tub and Sauna. Family room with gas fireplace off kitchen with large walk in pantry. Professionally landscaped  fenced yard with newer patio and sitting area.  Walking distance to Diefenbaker Elementary and Hugh Boyd High School.  Close to Seafair shopping centre and historic Steveston Village, transit and all amenities. Approximate age of renovations: 1998, roof has 9yrs left on warranty.

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RE/MAX Michael Cowling And Associates Realty
Serving Richmond, Vancouver, Ladner, and Tsawwassen
http://www.michaelcowling.com

FOLLOW me on FACEBOOK
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SOLD: #209-7431 Blundell Road 2 Bed 2 Bath Condo For Sale

This one is SOLD

#209-7431 Blundell Road
Richmond BC, V6Y 3G8, Canada

RICHMOND BC HOMES
GREATER VANCOUVER BC REAL ESTATE FOR SALE
House | Townhouse | Apartments-Condos | Real Estate
Richmond | Vancouver | Ladner | Tsawwassen

Thank you for visiting our video. We specialize in the purchase and sale of residential housing in Richmond, British Columbia. Whether you are relocating within Richmond, searching for an investment property, or leaving Richmond for another area, my experience can help you make the right decisions. Please contact us or take your time exploring my channel and make use of the resources available to you.

Please visit:
http://www.michaelcowling.com or
http://www.michaelcowling.com/209-7431-blundell-road-richmond-bc/
for more information.
Call Michael Cowling at 604-276-2335 or email him at mc@michaelcowling.com for showings.

Property Information:
Sub Area: Brighouse
MLS® No.: V1069453
Bedrooms: 2
Bathrooms: 2
Total sq.ft.: 937


Description:
Central bright quiet spacious 2 bedroom, 2 full bathrooms with in suite laundry hook-up, wood fireplace, plenty of storage and a big balcony. Spacious Master with walk through closet to ensuite bathroom.  Great amenities include indoor swimming pool, hot tub and sauna, 2 guest suites, and exercise room with newer equipment. Close to all amenities and transportation
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RE/MAX Michael Cowling And Associates Realty
Serving Richmond, Vancouver, Ladner, and Tsawwassen
http://www.michaelcowling.com

FOLLOW me on FACEBOOK
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FOLLOW me on TWITTER
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