Anna Smith

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Anna Smith anna@annasmithrealty.com 604-505-1647 


RE/MAX Crest Realty, 1428 W 7th Avenue Vancouver, BC V6H 1C1

New Westminster Morning

5 star recommendation

I have sold a property at 19123 DOERKSEN DR in Pitt Meadows.
Picture perfect spacious family home on quiet street, storybook neighbourhood. Walk to everything you want or need, shopping, restaurants, parks, services, recreation, West Coast Express & Highland Park Elementary & Hoffman Park. 4 large bedrooms up and home office on main or 5th bedroom. 9' ceilings and an ideal layout. Walk in pantry. Large games entertainment room. Easy to maintain backyard with covered deck area for year-round use, carefree artificial turf and a storage shed. BONUSES INCLUDE: New furnace with A/C! New Hot water tank, and well cared for roof. Loads of extra storage space in garage and crawl space. Highly sought-after neighbourhood and excellent location. 72 Score Very Walkable 76 Bike score. SD42 2 x 6 construction. 4424 sf Lot. Move into your DREAM home in a PRIME neighbourhood!! Call for appt.
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Please visit our Open House at 605 908 QUAYSIDE DR in New Westminster.
Open House on Saturday, July 30, 2022 12:00PM - 2:00PM 1 Bed 1 Bath Beautiful Enormous Patio Bright Open Floorplan EXTRA Large Locker Skytrain access Private Patio Oasis Steps to Waterfront Boardwalk and River Market and Restaurants, Shopping Galore Remarkable suite w/ PRIVATE fenced South facing PATIO 335 sq ft an entertaining or gardeners’ delight. Owner or investor - this 1 Bedroom unique jewel, in a fabulous convenient location. Welcoming open layout, Queen Murphy w/privacy curtain, open area concept and a built-in guest twin bed. Functional extendable table, seat 2 to 8 guests. Includes loveseat, TV, 2 mirrors, custom built cabinets, MOVE IN ready. Amenities galore right out your door: Concierge, gym, yoga studio, Riversky Club, Fireside lounge, full kitchen & large-screen TV - BONUS Rooftop terrace. Security camera out your door. Walk to Skytrain, theatres, River Market, Waterfront Boardwalk, restaurants & shopping. One of a kind peaceful little palace, perfectly functional, BOSA built.
SPECIAL 1B 1B suite with PRIVATE fenced South facing PATIO 335 sq ft an entertaining or gardeners’ delight. Own this 1 Bedroom unique jewel, in a fabulous convenient location. Welcoming open layout, Queen Murphy w/privacy curtain, open plan and a built-in guest twin bed. Functional extendable dining or work surface up to 15 ft. seats 2-9 guests. Includes loveseat, TV, 2 mirrors, custom lighted cabinets added, MOVE IN ready. Amenities galore right out your door on 6th floor: concierge, fitness gym, yoga studio, Riversky Club Fireside lounge, full kitchen & large-screen TV, BONUS Rooftop terrace. Security camera out your front door. 1 Locker. Walk to Skytrain, theatres, River Market, Waterfront Boardwalk, restaurants & shopping. Pets OK Rentals OK-No Airbnb. One of a kind peaceful little palace, perfectly efficient, BOSA built. Work at home or garden galore. Facing South, super desirable location https://youtu.be/E-RPhhshNh0 https://my.matterport.com/show/?m=mBiVEzjmWhm CALL for appointment
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Please visit our Open House at 605 908 QUAYSIDE DR in New Westminster.
Open House on Saturday, July 23, 2022 12:00PM - 2:00PM NICE 1B 1B suite with PRIVATE fenced South facing PATIO 335 sq ft an entertaining or gardeners’ delight. Own this 1 Bedroom unique jewel, in a fabulous convenient location. Welcoming open layout, Queen Murphy w/privacy curtain, open plan and a built-in guest twin bed. Functional extendable dining or work surface up to 15 ft. seats 2-8 guests. Includes loveseat, TV, 2 mirrors, custom lighted cabinets added, MOVE IN ready. Amenities galore right out your door on 6th floor: concierge, fitness gym, yoga studio, Riversky Club,Fireside lounge, full kitchen & large-screen TV, BONUS Rooftop terrace. Security camera out your front door. 1 Locker, NO Parking. Walk to Skytrain, theatres, River Market, Waterfront Boardwalk, restaurants & shopping. Pets OK Rentals OK-No Airbnb. One of a kind peaceful little palace, perfectly efficient, BOSA built. Own your own little paradise. Excellent for work at home or retire and garden galore. Facing South, desirable location and investors will love it. https://youtu.be/E-RPhhshNh0
SPECIAL 1B 1B suite with PRIVATE fenced South facing PATIO 335 sq ft an entertaining or gardeners’ delight. Own this 1 Bedroom unique jewel, in a fabulous convenient location. Welcoming open layout, Queen Murphy w/privacy curtain, open plan and a built-in guest twin bed. Functional extendable dining or work surface up to 15 ft. seats 2-9 guests. Includes loveseat, TV, 2 mirrors, custom lighted cabinets added, MOVE IN ready. Amenities galore right out your door on 6th floor: concierge, fitness gym, yoga studio, Riversky Club Fireside lounge, full kitchen & large-screen TV, BONUS Rooftop terrace. Security camera out your front door. 1 Locker. Walk to Skytrain, theatres, River Market, Waterfront Boardwalk, restaurants & shopping. Pets OK Rentals OK-No Airbnb. One of a kind peaceful little palace, perfectly efficient, BOSA built. Work at home or garden galore. Facing South, super desirable location https://youtu.be/E-RPhhshNh0 https://my.matterport.com/show/?m=mBiVEzjmWhm CALL for appointment
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What to Know About the
Latest Interest Rate Hikes

 

With recent Bank of Canada interest rate hikes, and more on the way, here is what you need to know about how these fiscal policy changes affect your mortgage.

First and foremost, the interest rate hikes directly affect individuals that currently have an adjustable-rate mortgage. Depending on your mortgage amount, you're looking at a potential mortgage payment increase of $40 per month for every $100,000 of balance owing. For example, if your mortgage balance is $400,000 then your monthly payment will increase approximately $160 per month.

As Canada’s lending prime has increased, variable rates increase as these rates are tied to prime. Payments need to increase respectively to ensure the scheduled amortization remains the same. Hence you will still pay off your mortgage as the original amortization shows. For those individuals on a fixed-mortgage, you will not be affected by these interim changes outside of renewing your mortgage. If you’re mortgage is up for renewal, you will likely be renewing at a higher rate depending on your lender. If you’re still six months away from renewing, it may be a good idea to look into the options for early renewal to avoid getting caught up in another interest rate hike later this year.

All rates, fixed or variable are expected to rise more over the summer months. Please reach out to me today to discuss obtaining a rate hold. I can lock-in an interest rate for 90-120 days while you plan your next step whether it is renewing, purchasing or planning for changes.

If you're not currently a homeowner, but were looking at getting into the marketplace, it is a good idea to revaluate your budget and potential calculations for homeownership to ensure that your estimates are in line with the new interest rates. Download my mobile app My Mortgage Planner to play around with calculators and review your budget.

While interest rate hikes affect everyone, understanding the dollar value change for your situation and adjusting your budget accordingly, can help ease the pressure from increased mortgage costs. If you have any questions or are not sure what your next move should be, don’t hesitate to reach out to me today! I’d be happy to help review your situation and walk you through your options.

 
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The prime rate has risen by 1% to 4.7%.  For example, if you have a prime - .9% variable rate mortgage, you now have a 3.8% variable rate mortgage.

According to social media, the entire world is collapsing. 

Let us break it down.  *I am not an economist. 

Where is our inflation coming from?
At any given moment in time, we have a fixed amount of goods and services versus a fixed amount of currency. 

If we increase the amount of currency available and the number of goods and services remains the same, the price of goods will inflate. 

If we decrease the production of goods and services versus a fixed amount of currency, the price of goods and services will inflate. 

If there is pent-up demand (increase) for goods and services versus a fixed amount of currency, the price of goods and services will inflate. 

The above three have all happened in the last 2 years due to covid and we are now seeing the result of these events.

How will inflation stop or slow down?
Decrease the demand for goods and services.
Increase the supply of goods and services.
Increase the demand for currency.
Decrease the supply of currency.

What can the Bank of Canada do?
The only thing they can do is increase the rate.  When they increase the rate, the demand for currency will decrease.  Less currency is available, in turn decreasing the price of goods and services and slowing down inflation.

How do you defend against this?
Do the math.  Let’s make some assumptions:
1. How long will it take to go back to normal: 2 Years
2. How much extra interest will you pay: 2%/year
3. Average mortgage size: $600,000

The above is my guestimate.

Total Cost: $600,000 x 2% x 2 Years = $24,000

If you can afford the extra $24,000 in cost over the next 2 years with your income, line of credits, investments etc., then you are ok. 

What should you do in this situation?
1. Run your numbers and know your numbers. 
2. Structure line of credits against your properties(s)
3. Look at converting to 1, 2, 3 year fixed rates if the variable rate = fixed rates

What are investors going to do?
“Be greedy when others are fearful.”
Investors are going to buy in this market.  They are going to structure line of credits/mortgages against their properties and prepare their financial position to qualify for lending.

What is a good strategy to buy as an investor?
With higher rates, cash flow is going to be restrictive.  So instead of buying a $800k property with $200k down, it makes more sense to buy a $500k property with $200k down.

Which homeowners are going to buy in this market?
1. New home buyers as they are still paying insane amounts of rent.    
2. Home buyers that want to upsize or downsize in a calm fashion.     

Are there more risks to consider?
Let us use a 40-year-old making $120,000/year and will work till age 65. 

Death: $120,000 x 25 years = $3,000,000 Risk
Disabled and can no longer work: $120,000 x 25 years = $3,000,00 Risk
Critically Ill: $120,000 x 3 Years = $360,000 Risk

The above risks make the interest rate risk look small.  Something to think about. 

What is the next step?
If you would like to discuss your options for mortgages & insurance, feel free to set a time: https://calendly.com/robertkleinmeeting/20min

Robert Klein                              
Mortgage Broker & Commercial Realtor
Pacific West Mortgages Inc. & NAI Commercial (Victoria) Inc.
C: 778.896.6732 | F:604.648.9701              
Email: robert@robertklein.ca               
Visit our website at www.robertklein.ca
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Please visit our Open House at 605 908 QUAYSIDE DR in New Westminster.
Open House on Saturday, July 16, 2022 12:00PM - 2:00PM 1 Bed 1 Bath Beautiful Enormous Patio Bright Open Floorplan EXTRA Large Locker Skytrain access Private Patio Oasis Steps to Waterfront Boardwalk and River Market and Restaurants, Shopping Galore Remarkable suite w/ PRIVATE fenced South facing PATIO 335 sq ft an entertaining or gardeners’ delight. Owner or investor - this 1 Bedroom unique jewel, in a fabulous convenient location. Welcoming open layout, Queen Murphy w/privacy curtain, open area concept and a built-in guest twin bed. Functional extendable table, seat 2 to 8 guests. Includes loveseat, TV, 2 mirrors, custom built cabinets, MOVE IN ready. Amenities galore right out your door: Concierge, gym, yoga studio, Riversky Club, Fireside lounge, full kitchen & large-screen TV - BONUS Rooftop terrace. Security camera out your front door. Walk to Skytrain, theatres, River Market, Waterfront Boardwalk, restaurants & shopping. One of a kind peaceful little palace, perfectly functional, BOSA built.
SPECIAL 1B 1B suite with PRIVATE fenced South facing PATIO 335 sq ft an entertaining or gardeners’ delight. Own this 1 Bedroom unique jewel, in a fabulous convenient location. Welcoming open layout, Queen Murphy w/privacy curtain, open plan and a built-in guest twin bed. Functional extendable dining or work surface up to 15 ft. seats 2-9 guests. Includes loveseat, TV, 2 mirrors, custom lighted cabinets added, MOVE IN ready. Amenities galore right out your door on 6th floor: concierge, fitness gym, yoga studio, Riversky Club Fireside lounge, full kitchen & large-screen TV, BONUS Rooftop terrace. Security camera out your front door. 1 Locker. Walk to Skytrain, theatres, River Market, Waterfront Boardwalk, restaurants & shopping. Pets OK Rentals OK-No Airbnb. One of a kind peaceful little palace, perfectly efficient, BOSA built. Work at home or garden galore. Facing South, super desirable location https://youtu.be/E-RPhhshNh0 https://my.matterport.com/show/?m=mBiVEzjmWhm CALL for appointment
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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.