Large level lot in First Shaughnessy with back lane. This character house is in great shape with good bones. Over 4,700 square feet

with spacious rooms including a solarium. High basement with 2 bedroom suite rented to great tenants. Very private yard and parking

for 3 cars in triple garage. Asking rpice is below assessment.

House was completely remodelled by owner/architect in the 70's and featured in Home Remodeling magazine in summer of 1979. House is dated but in excellent condition with a spacious open floor plan. Exposed cedar ceiling beams and cedar decking contribute textural interest to the interior and tie together the different areas. Upper floor is 4 bedroom and a study. Huge lot - 10320 square feet with a creek that runs along on one side and a pathway on the other side. Walk to West Van High school and close to Elementary School and Recreation Centre. This one of a kind home is ready for someone to bring it back to its glory.

A rare city home at the Pacifica - over 1,900 square feet on 2 levels. Completely updated by the "bachelorette," Jillian Harris. Looking west into a lovely treed inner courtyard with large floor to ceiling windows. Just a short walk to the Canada lines and minutes by car to downtown Vancouver.

Great townhouse in move-in condition. 3 bedrooms plus rec room or 4th bedroom and 2 1/2 baths. 9' ceilings, granite island in kitchen and counters, gas fireplace and lots of parking in front of unit plus 1 extra by the garage. North facing with sunny southern exposure deck. Walking distance to shopping and schools.

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability.  Even though interest rates have gone up in the last six months, they are still near historic lows.  Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, if home prices come down a little further but interest rates go up, it could cost you even more to service a mortgage on an identical home!

While a home is a major investment, it is also the center of your personal life.  It’s important to live in a home that reflects your taste and values, yet is within your financial “comfort zone.”  To that end, it may be more important to lock in today’s relatively low interest rates and low home prices, rather than to hope for a further break in prices in the future.

Please give me a call if I can be of any assistance in determining how much home you can afford in today’s market.

If you have not owned a home in three years, you qualify as a first time home buyer.  If you buy a home after April 9, 2008 and before July 1, 2009, you qualify for this credit.  Call your friends who just bought a home since April 9th and tell them they may take $7,500 off their tax bill if they qualify.  It has to be your principal residence, so rentals do not count.

The tax credit is 10% of the cost of the home, up to a maximum of $7,500. This is not an additional deduction that lowers the amount of income to be taxed, it is a tax credit.  In other words, you take $7,500 off your tax bill.  But there is a catch; the credit you receive now is actually an interest-free loan that must be repaid.

The loan has no interest, and will be paid back over 15 years.  You get the credit on your 2008 taxes, but you start paying it back on your 2010 taxes that are due in 2011, so you get at least two years without a payment.  You pay back 6.67% of the credit each year, so for a $7,500 credit the payment is $502.50 per year.  If you stay put for 15 years, you pay it off with no interest.

What happens if you sell the house?  You pay the balance back at the closing.  So, you get $7,500 now, and pay the rest of it back if you make money on the sale of your house.  What happens if you do not make enough money when you sell your house?  They forgive the rest of the debt. 

Other restrictions stipulate that you have to buy your first house in three years before July 1, 2009, not have super high income, not use bond financing and buy anywhere in the US.

If you’d like to learn more about this program, please call me!