We just helped another client purchase a great home.   This one was a luxurious 1 bedroom  condo in downtown Langley for just $229,900.   Located close to everything… this top floor unit included top of the line cabinetry, appliances, fixtures and finishings – beautiful!  

I™m often asked if this is a good time to buy a home.   Some clients are concerned that home prices may fall somewhat after the Olympics.   They’re assuming that the best course of action is to wait for the bottom in the market and then buy.   The problem with this approach is that you don™t know where the bottom is until you see it in the rearview mirror, meaning until you™ve missed it!

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 a bit 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 œcomfort zone.   To that end, it may be more important to lock in today™s 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.   I appreciate your thoughts and input!

I™ve just sold a Townhouse property at 5666 208 Street in Langley. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.

I™ve just sold a Townhouse property at 5666 208 Street in Langley. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.

Hey everyone!   I want to invite you to The 2009 Langley Charity Wine Tour. This exciting event is hosted by Charitable Business Group (www.CharitableBusinessGroup.com), an organization of local businesspeople dedicated to financially supporting BC children’s charities.

Join us for a great Saturday afternoon of fine wine, food, prizes and great fun at the excellent wineries of Langley.   We will be driven to all the wineries in the comfort of an air-conditioned bus.    See details below.   Please respond ASAP to receive a special $50 Destination Tours Gift Certificate (while supplies last).

The 2009 Langley Charity Wine Tour  supports Vancouver Children™s Hospice
Date: Saturday, September 19, 2009
Tickets: $65/per person     *Limited space available. Call 604-720-5353.

Your Ticket Includes:
¢   Round Trip Transportation On A Deluxe Air-Conditioned Motor Coach
¢   Guided Winery Tours
¢   Domaine De Chaberton Winery, Township 7 Winery & The Fort Wine Company
¢   Burger & Beer At Walnut Grove Pub
¢   $50 Destination Tours Gift Certificate (while supplies last)
¢   Destination Tours Guide
¢   Free Samples, Giveaways & Prizes on The Coach            
Don’t delay as space is limited. Call today for tickets at 604-720-5353.   See you there!

I hope you’ve been enjoying this amazing summer season.      It’s been a great time for us with work, fun, relaxation and opportunity.   If you are looking for an opportunity to buy real estate at historic low mortgage rates, let me  break it down for you!

The most common mortgage product is a 5-year fixed term.   This means that the interest rate you obtain at the time of your mortgage stays the same for 5 years. This allows you to know exactly what your monthly payments will be, and you can budget accordingly.   With interest rates being so low these days, this is a very desirable product.

Another mortgage product is the variable. The interest rate starts with Prime, then a percentage is added depending on the lender’s rates. Currently, the Prime rate is at a historic low of 2.25%.   If a lender offers Prime plus .4%, your mortgage interest rate would be 2.65%. While this is very appealing, Prime can change, thus changing your mortgage payment. If you like to take advantage of a low rate and possibly pay down your mortgage principle faster, then a variable product is for you.   If you don’t like the idea of your monthly payment changing from time to time, then perhaps you don’t want  a  variable mortgage.

When choosing a mortgage  product, I tell my clients about the “sleep factor”.   If you’re comfortable with the idea of your monthly payment  increasing or decreasing, then the variable is for you.   If you’re going to lose sleep worrying about your budget, then a fixed term will likely best suit your needs.

Mortgages don’t have to be confusing!   As always, you can contact me or my assistant Kelly with questions.   We  know great mortgage brokers who can help you get better rates.   We’re always happy to hear from you!