Elizabeth Chi Real Estate Newsletter - Edition 14 - January 2016

Elizabeth (Eli) Chi - RealtorĀ®

Century 21 Energy Realty

eli@elichi.ca
778.256.2888
http://www.elichi.ca/

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Happy New Year!

 

Hope you had a fabulous holiday season with family and friends!  All the best for a prosperous, healthy and happy 2016!



Latest Mortgage Tips

 

Bill Morneau tightens mortgage rules on homes over $500K - Politics - CBC News

RECENT MORTGAGE CHANGES Courtesy of Edith Loewen with RBC. 


In regards to the recent Mortgage changes I have attached an example of how it will affect buyers. These changes will mostly impact second time home buyers; I don’t anticipate the difference between what they will need now and after February 15th to have a negative impact on our market. I have confirmed the details with CMHC to answer three of the most asked questions.

1, What happens if the client is approved SUBJECT to sale of home?
-As long as the client has an approval by CMHC subject to the sale of their home before February 15th they have until July 1, 2016 to sell their home

2, What happens if the client is approved before February 15th and there is a change in closing date?
-As long as the closing date is not extended past July 1, 2016 the original approval will apply

3, What if the application is at CMHC before February 15th and it’s approved BUT waiting for an appraisal?
-CMHC will apply the guidelines as per the day the application was submitted to them

All Mortgages must close by July 1st, 2016 under the current guidelines; they will not be grandfathered past that date.

5% down on the first $500,000 and 10% on the remainder of the purchase price.
Ex: Purchase Price $645,697.00 Down Payment: $500,000.00 x 5%= $25,000 + $145,697 x 10%= $14,569.70 total down payment would be $39,569.70

Please find attached some scenarios of the new rule change.
Mortgage payments are monthly based on five year Fixed Closed rate at 2.84% amortized over 25 years.

Check out the attached PDF for more information.

Please don’t hesitate to contact Edith at any time for Mortgage options or advice.
Ph: 250-262-4040 or email: edith.loewen@rbc.com



Future of LNG 2015

 

_Future of LNG 2015

Canada’s emergence as a global energy exporter is at hand.  By the end of this decade, Canadian oil and liquefied natural gas (LNG) should begin to flow away from the increasingly saturated US market to offshore markets, primarily in the high growth Asia-Pacific region.

Despite this, two or more BC LNG projects will likely be built-eventually.  The core challenge is whether the industry timetable matches the needs of the BC and Alberta governments. The BC government has promised a lot to the public on the fiscal windfall from LNG, promises that were premature and under-estimated the price sensitivity of these projects and the availability of alternative investment destinations.

Regardless of the uncertainties, and especially in the longer-term, Canada’s oil sands and gas reserves are too valuable to leave in the ground and failure to find some route to market would be a failure of both public policy imagination and market forces of epic proportion. What underpins this view is a world in which strategic, world scale oil development opportunities are in short supply, regardless of prices, while petroleum demand continues to grow, albeit not at the torrid rates of 2002-2008.

The attached LNG Update shows evidence that billions of dollars are already being spent and we are stepping closer and closer to hearing an announcement.  The last couple months have been a flurry of good news, especially last week.  It's only a matter of time.  

 



Cash Flow Properties

 

Clarke Suited Duplex Dawson
Furnished Duplex FSJ
Half Duplex 8809 76 Street Duplex FSJ
Hampton Full Duplex, Dawson
Hillcrest Suited Duplex, Dawson
Robbo Suited Duplex Dawson
Signature Pointe Condos
Sunset Info package - Eli
Tudo Info Package - Eli
Woodsmere Condo FSJ

When you look at as many properties as I do, you have to learn how to quickly analyze the numbers to determine whether a property has the potential to be a great cash flowing investment property or not.  I take the gross annual rent divided by the Purchase Price x 100.  If this gives me more than 8%, I look further into this property to see how I can increase rents and decrease expenses.  If it's 9%, definitely look closely.  If it's 10% or greater, hurry up and buy the darn thing!  That bad boy won't last long!

Are you looking for CASH FLOW properties while maximizing your ROI and taking advantage of the capital appreciation in a growth region?  Find properties in Fort St. John to Dawson Creek with some of the best cash flow you've ever seen!

Some of these properties are EXCLUSIVE to our clients only and are not put on MLS.  

(The information contained within the PDF documents are for discussion purposes only and is not to be relied upon without performing your own due diligence.  Figures will vary for each individual)



Stay Informed

 

Informed Home Buyer December
Informed Home Buyer January

Click on the PDF to see my monthly tidbits on buying or selling a home and even on maintenance of your home!  Some very helpful tips here so don't miss out!  Only takes a couple minutes to read!



7 Holiday Energy Saving Tips

 

With colder weather, holiday entertaining and out-of-town guests, it's no surprise our homes use more energy in winter.  But these energy-saving tips can help fight those winter energy blues.  Get more at fortisbc.com/savingtips

 

1. Clean or replace your furnace's filter to keep it running effiiciently.  

2. Use your natural gas fireplace to heat only the rooms you're using. 

3. Install a programmable thermostat and you'll never worry about forgetting to turn down the heat again. 

4. Keep the heat in by caulking and weatherstripping exterior doors and windows. 

5. Hosting a big dinner?  Before guests arrive, lower the thermostat - body heat will more than make up for it. 

6. Run you dishwasher only when full, use the energy-saving cycle and let dishes air dry. 

7. Install water-efficient shower heads and faucets.  They can help cut down on water use.  



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