Elizabeth Chi Real Estate Newsletter - Edition 9 - March 2015

Elizabeth (Eli) Chi - Realtor®

Century 21 Energy Realty

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

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Centurion Award 2014

 

March 15th will mark my 2 year anniversary in Fort St. John‬ and I rocked it by earning my Centurion Award for 2014! To achieve this award, one must sell a minimum of 65 homes in a calendar year. I am the second female in Century 21 for Fort St. John/Dawson Creek area to receive this award.

A HUGE thank you to YOU, my clients, who put your trust and faith in me to help you achieve your goals and also a special thanks to those that referred me to friends. I don't advertise a lot as I depend on the referral of friends and clients for a job well done. This ensures that I will take care of you and your friends! Just goes to prove that you can achieve anything you set your mind to, as long as your reason for doing it is strong enough. Mine was to be financially capable to care for Mama Chi. 2014 was a monumental year for me as Mama Chi finally retired. Congratulations Mama Chi!! Love you!



Market Snapshot

 

Median Sales Price Feb 2015
Sales Feb 2015

Here is your Market Snapshot for February 2015:

Number of Sales for Detached and Attached homes in Fort St. John:
Compared to the January and February last year, our number of sales are consistent to last year's.
http://bcnreb.stats.10kresearch.com/infoserv/s-v1/tgkh-sAG

Median Sales Price for Detached homes in Fort St. John
Compared to January and February last year, our median sales price is up.
http://bcnreb.stats.10kresearch.com/infoserv/s-v1/tgeg-P0j



Cash Flow Properties

 

9116 Calverly Crescent
Blue Bird
Dawson Townhouse furnished
Double lot in Dawson Creek 152547 -- $335,000 -- 1037 119 AVE
FSJ Duplex $529,900
Killarney Duplex
Mosaic Furnished Half Duplex (Dawson)
Signature Pointe Condos
Simmons Half Duplex
Woodlands Lot 10
Woodlands Lot 11
Woodlands Lot 12

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)



BOC Shocks the Market wth Rate Cut

 

At the end of last year, the BOC was putting fear into people that interest rates were on the rise. BOC Shocks the Market wth Rate Cut by 0.25% at the end of January. This is a move that the banks call 'insurance against the potentially destructive effects of the oil price collapse'. This is their attempt to shield highly indebted Canadian households from an oil induced hit to their jobs and income. Market economists and experts are saying that we won't see a rise in oil prices until the 4th quarter of 2015. The Canadian economy, however, won't return to full capacity until at least the end of 2016 which means we will see low interest rates for some time now. To prevent people from using their homes as ATM machines and over stimulating the real estate housing market, we might start seeing mortgage rule changes in the next few months. This could be an optimal time to speak with your mortgage specialist to discuss "Blend-and-extend"

Blend-and-extend option
(e.g. Old interest rate 5.5%, New interest rate 4% = Blended Rate 4.6%
Please note, these numbers are fiction. Why you would have a residential mortgage with interest rates at 5.5% is crazy talk these days!)
Some mortgage lenders may allow you to extend the length of your mortgage before the end of your term. They do this by blending your old interest rate and the new term’s rate. This is called the “blend-and-extend” early renewal option.
A “blend-and-extend” option may trigger a prepayment charge. Your mortgage lender may also charge an administrative fee to use this option. Know all the costs before doing so.

Benefits
-You get a lower rate and potentially lower payments.
-If you keep the payment the same as with your current agreement, you will be able to pay off your mortgage sooner.
-You can lock in the lower interest rate for the new term of the mortgage.

Risks
-If there are fees or a prepayment charge, the costs could be more than any savings that you might get.
-If you are planning to sell your home soon, you may not be able to realize any savings from renegotiating for a lower interest rate.
-The interest rates may continue to go down, in which case you would not lock your new mortgage in at the lowest rate possible.



Assessments

 

Peace River 2013 Assessments
Peace River 2014 Assessments
Peace River 2015 Assessments

Your property is assessed according to its value on July 1 of the previous year.

To establish the market value, BC Assessment looks at a number of components in the same way a prospective home buyer looks at the size, layout, shape, age, finish, quality, number of carports, garages, sun decks of a home. Location, views, available services and the neighbourhood itself also influence your property's assessed value.

BC Assessment appraisers analyze all sales in your area and develop common comparisons and equivalent values. After reviewing similarities and differences between properties, they arrive at a specific assessed value for each property.

An appraiser has the right to enter your home to conduct property inspections to ensure that the description and condition of a property is correct on your Property Assessment Notice, but that seldom happens.



Exclusive For My Clients Only, Available Until March 22nd

 

Optik TV and Internet for just $30/month for an entire year when signing up for 3 years – only available until March 22, 2015!

You can get TELUS Optik TV and Internet offer 12 months of the promotional price of $30 when signing a 3 year term. Over the three years they will also save $900 in free rental equipment because your PVR and 2 Wireless HD boxes are included in this deal.

Any clients who are switching from the cable company, and allow TELUS to cancel their services, will get a $100 credit on their first TELUS bill. When your clients take the $30 promotion this $100 credit equates to over 3 months FREE of TELUS Optik TV Essentials and Internet 15.

Please call 310–5323 and quote T1# 30576 to take advantage of this offer today.



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