Margaret & John

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Monday Morning Updates - July 22, 2019

#Mondaymorningmarketupdate -


Market Trend - mid July

- Sales in July is tracking to finish around 2500-2600 listings by the end of July 
-monthly supply continues to steadily decline over the last few months 
- the higher end properties (price over $3 Million) is still slow as the property transfer tax would jump to 5% and there is a school tax applicable 
- the average homes ($1M to $2.9M) are getting more traffic & activities 
- the Hot Spot  is Vancouver Eastside Towmhouse with only 3-4 months supply  indicating a sellers market
- the slowest market remains to be single detach house  in West Vancouver with over 30 months supply indicating a strong buyer market 
- more consumers are looking into back to back purchase & sale as the market is experiencing compression ➡️➡️
- more subject to sales with time clause offer are being presented ; make sure you work with an experienced realtors to make sure everything is well looked after.

If you are looking to get into the market or move up to a larger home, this is a great opportunity ⚡️ let’s get together & talk about it !


Dexter Realty New & Improved 

Our company is always looking for ways to provide value to our clients while being environmentally friendly !

So we have provide virtual tours to all our office new listings to the realtors at our regular office meeting


Professional Guest Speaker 


FairTradeWorks

Looking to update your kitchen? Modernize your bathroom ? Repurpose the shed into a home gym ? Thinking of refreshing a space to get ready to market your house? Or just an overall makeover to your home ??

Fair Trade Works are an established local company with all the trades available to help you with all sizes of your renovation projects.

Learn more at 
fairtradeworks.biz
Jim - 604.264.7366
Contactus@fairtradeworks.biz


#MortgageUpdate 

The Bank of Canada  is lowering the qualifying rate to 5.19%. This is a reduction of 0.2%. This could potentially increase a buyer’s max borrowing power by less than 1%.

There is another way that buyers may increase their borrowing power by 20% with competitive interest rates.

Curious 
Thinking of a move 
This is a perfect time to making your homeownership dream into a reality !
Learn more with Keaton Kirkwood at The Green Team Mortgage.

Keaton Kirkwood-Mortgage Broker
DLC Homeline Mortgages
Cell: 778-847-3289
www.GreenMortgageTeam.ca


#CurrentInterestRate -

Current 5 Year Bond rate is down to 1.36%, interest rate should soften within th

Current Special 2.84 %for a quick close mortgage which is about $413/month of mortgage payment for every $100,000 borrowed on both 25% or 30%

Fix rate special 3.39% for high-ratio mortgage, $460/month of mortgage payment for every $100,000 borrowed

High-ratio mortgage rate -3.14%which is around $470/month of mortgage payment with 25 years amortization for every $100,000 borrowed or $451/ month of mortgage payment for 30 years amortization length.

Conventional rate - 3.24% which is around $435/month of mortgage payment for every $100,000 borrower with 30 years amortization period

Variable rate - 2.95% which is about $471/Month of mortgage payment for $100,000 you borrow with 25 years of amortization period or $418/month of mortgage payment for 30 years of amortization period

We are at 35 years low in mortgage growth as a result of the implementations of mortgage stress test from one year ago.

Rate has been holding fairly steady and there are a good supply of housing options on the market.



If we can be of any service to your real estate needs, please don’t hesitate to let us know. We love to hear from you!!

Have a great week ! 


Margaret Wong
Dexter Realty

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We're proud to announce that Margaret was recognized for her incredible year in 2018 by her brokerage, Dexter Realty. Here's what they have to say about their awards: https://dexterrealty.com/insights/2018-award-winners/


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