Krista Klein Newsletter Edition #57 (Cypress Mountain Season Pass deal and Why the New First Time Buyer Program is Not a Good Deal)

Foreclosures

Sept 2019 Abbotsford Attached
Sept 2019 Abbotsford Detached
Sept 2019 Burnaby Attached
Sept 2019 Burnaby Detached
Sept 2019 Chilliwack Detached
Sept 2019 Commercial
Sept 2019 Coquitlam Attached
Sept 2019 Land
Sept 2019 Langley Attached
Sept 2019 Langley Detached
Sept 2019 Maple Ridge Attached
Sept 2019 Maple Ridge Detached
Sept 2019 Mission Detached
Sept 2019 Multifamily
Sept 2019 New West Attached
Sept 2019 New West Detached
Sept 2019 North Van Attached
Sept 2019 North Van Detached
Sept 2019 Okanagan
Sept 2019 Port Coquitlam Attached
Sept 2019 Port Coquitlam Detached
Sept 2019 Richmond Attached
Sept 2019 Richmond Detached
Sept 2019 Shuswap
Sept 2019 Surrey Attached
Sept 2019 Surrey Detached
Sept 2019 Vancouver Attached
Sept 2019 Vancouver Detached
Sept 2019 West Van Attached
Sept 2019 West Van Detached

Above is a list of foreclosures in the Lower Mainland and beyond.

There are some great deals to be had for either your own home or as a rental property. 

Check them out at the links above.

First Time Home Buyer Incentive Program

On September 2nd, the Government of Canada launched a new program to help first-time home buyers to lower mortgage costs. The new $1.25-billion incentive program would allow prospective buyers to apply for an interest-free loan from Canada Mortgage and Housing Corporation (CMHC).

Here's a ton of info on the new program.

An Eligibility Calculator to test and evaluate different financial scenarios and view their impact on mortgage payments.

A Product Highlight Sheet (PDF) including a summary of key program details in a format that is easy to download, print and share.

A Journey Map breaking down the application process step by step.

An Application Process diagram (PDF) showing the interactions between all of the parties involved. (Available on desktop only).

The government would share in the equity in the property.  If the government gave 5% of the purchase price, they would need to receive 5% of the sale when it is sold.  This is great if the price goes down, but in a city like Vancouver, where prices have been consistently going up, that could equal a lot of money.  They don't want back the original 5% of the purchase price, they want back 5% of the value when it is sold.  

I took a DNA test and Discovered New Family!

I took a DNA test and connected with a 2nd cousin. The coolest part is she had traced my mother's side family tree all the way back to the 18th century in Hungary. She also sent me some pictures I have never seen before. 

This is a picture of my great grandfather and other family members on the steam threshing machine.