krista@kristafreeborn.com
www.kristafreeborn.com


Crest Realty Westside
Independently Owned and Operated

If you are a buyer and are planning on keeping your payments lower with a 30 year amortization, you need to buy fast.  Starting next month, the maximum amortization period you can take on your CMHC insured mortgage will be 25 years.  What does this mean?  It means your payback period for your mortgage is shorter, meaning you pay less in interest over the life of your mortgage, but it means your payments will be higher per month.  For every $100,000 in mortgage you have, your payments will increase $53/mth based on a 5 year rate of 3.19%, but it will save you $10,246 of the lifetime of your mortgage.  Read more here...

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Looking for another good excuse to hang out in Vancouver's oldest, coolest, hipest, most historic neighbourhood in Vancouver?  Gastown celebrates the longest day of the year this Thursday June 21 from 5-10pm with live music on the streets.  After 10pm the party continues indoors at the many great pubs and restaurants around Gastown.  The event is totally free, so come out and enjoy the start of summer.  And Mr. Weather man is calling for 19 degrees and sunshine!  Wahoo!  Make Music Vancouver 2012

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The Gastown Grand Prix is back!  The best cyclists in North America will put on a great show while they speed through Gastown's gorgeous cobble stone streets in the heart of Vancouver's most historic neighbourhood.  The women will lap 30 times for a total of 36 kms, and the men will lap 50 times totalling 60 kms.  Opening ceremonies start at 5:45pm and the awards will be presented at 9:15pm.  Wow, that's a lot of laps in a short amont of time!  Gastown Grand Prix

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The May 2012 stats are out for the Greater Vancouver Real Estate Board and I've included them in my June 2012 E-Newsletter.  Although it certainly doesn't feel like it, summer officially arrives next week....Enjoy!

 

June 2012

Well, it certainly feels like Juneuary again this year, doesn't it?  Where is the sunshine we all so desperately crave?  I know, it will come, just be patient.  Even though our weather doesn't feel like summer is here, it certainly feels like summer in the real estate market.  People keep asking me if this slowdown is the bubble that the media has spoke of in the past.  In case you have been asking yourself the same question, here's my answer....we are just in a normal, balanced market, like the old days, before the frenzy hit eight years ago.  We just don't know what a normal market is anymore because the craziness of the last eight years is embeded in our minds.  So don't panic people, we are good.  Buyers have more listings to choose from, and they have the time to visit the homes that interest them a couple of times before making an offer.  Wow, isn't that a nice way to buy?  Follow my blog page to keep up to date on information affecting the real estate market.  Enjoy these last few days of spring...summer is officially around the corner!  

New Listings!

I have two great new listings!  One is a gorgeous two bedroom, two bathroom condo in a 2 year old building downtown Vancouver with custom designed features that extend the living space, and feature spa inspired bathrooms.  Looking for a fixer-upper?  I have a large one bedroom listing that is perfectly situated in the trendy Main St. & 7th Ave area, on a quiet residential street lined with Cherry Blossom trees.  This top floor unit has vaulted ceilings and lots of windows, with a large 4x18' south facing balcony looking out on to the mature trees we love in the Eastside.  Renovate it, live in it, or flip it!  View my active listings here...  While you are viewing my listings you will notice price adjustments on both of my listings with the massive decks and great views.  Just in time for summer! 

Market Statistics

Home listings continue to rise in the Greater Vancouver housing market. We are seeing a Balanced market Downtown & in the Westside attached market, a Buyers market for Westside houses, and the Sellers market continues on the Eastside.  Generally speaking we are seeing inventory up, sales consistent, and prices steady or falling slightly.  For the detailed stats  read more here...

The Vancouver Art Gallery

Here's a good way to spend a rainy day in the city.    Neon Vancouver/Ugly Vancouver.   Sounds strange but intriguing, doesn't it?  The Art Gallery is featuring a glimpse into Vancouver's big city lights of the 1950's , 60's, and 70's with their display of some of Vancouver's oldest neon signs, some rescued from junk yards.   Running until August 12, 2012.  Neon Vancouver/Ugly Vancouver 
Copyright © 2011 Krista Freeborn

Our mailing address is: 1428 W. 7th Ave, Vancouver BC V6H 1C1

This communication is not intended to induce a breach of an extisting agency relationship.
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Looking for a great Vancouver condo, 2 bedrooms, 2 bathrooms, corner unit, open, bright, sunny, with an expansive view that won't change?  My new listing in Dolce just might be the one you are looking for!  This is the best floor plan in the building, and the large balcony is a great extension of the living space.  Wish custom made upgrades, this condo feels luxurious without the luxurious price tag.  The bathrooms will make you feel like you are at the spa.  Ahhhh, your urban oasis in the heart of downtown!  

Check it out here...

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The 5 year rate just dropped from 3.19% to 3.09%.  If you are a buyer and haven't locked in a rate hold yet, you might want to do that now.  Great rate!  

 

News for buyers wanting to buy with a Home Equity Line of Credit...It looks like the loan to value will drop from 80% to 65% by the end of the year so this means if you want to buy with a line of credit, you will have to put down 35% instead of the 20% you can do now.  Again, if this is your desired mortgage, then you may want to look at buying now so you can take advantage of the current 20% down payment.  

 

The prime rate is still 3%, so those of you on a variable rate will not see any changes.

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RE/MAX rated #1 for the third year in a row!  RE/MAX agents closed 59% of the 475,000 transaction ends and had 52% of the total $172 billion in sales volume.  Read more...

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Prefer to watch a short video for the Greater Vancouver Real Estate Board stats for May 2012?  Click here to view this and other videos on my YouTube channel.

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Are you looking for a great place to renovate?  This 706 square foot top floor condo in East Vancouver's trendy Main St. area might be just what you are looking for.  Vaulted ceilings, extra windows, south facing, large 4 x 18 balcony with lovely private, green outlook is awaiting your renovation ideas.  It's current decor is "mid-centure modern meets the Jetsons!"  And it's super cool, but I'm sure the new buyer will want to change it up a little.  Call me for more info, or check out the listing here...

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The report is in, and it's a balanced market again for the month of May for Greater Vancouver real estate.  Prices for Vancouver West apartments had close to zero change.  House prices softened a little, but not much.  Vancouver East apartment & house prices are down a little as well.  Listings are up in all four of these categories.  The number of sales are up for Vancouver West apartments, but down a little for houses.  On the east side, we are seeing the opposite...apartment sales down and house sales are up.  Click here to read the detailed stats...

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The BOC rate remains unchanged at this weeks meeting.  Good news for those on a variable rate.

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