Carol Palfrey Associate Broker " The Eastside is my Neighbourhood "

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Cell:1 (604) 818-7422
Office :1 (604) 263-1911
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4387 Main Street
Vancouver, BC
V5V 3R1 Canada



If so, you need to be aware that the down payment rules are changing as of February 15th, 2016. The most recent change to the mortgage rules requires people to put a larger down payment on property priced between $500,000 and $999,999.  Purchases over $1M require at least 20% down with most lenders requiring even larger down payments for purchase prices over $1.25M.


In Canada, all loans with less than 20% down payment require mortgage Insurance. By changing the guidelines for insured mortgages, the effect encompasses all lenders.

For purchases of $500,000 or below, a 5% down payment is still possible.  For purchases over $500,000, the down payment requirement gradually increases as 10% is required for the portion over $500,000.  For example, a $550,000 purchase will require $25,000 for the first $500,000 and $5,000 for the remaining $50,000. This is $5,000 more than previously required.


The old policies will remain in effect for files approved prior to February.. As most lenders hold rates for between 90 and 120 days, the actual completion date can extend to June.    


In our opinion, the silver lining here is that the government appears to feel they are not in a position to increase rates enough to slow down the market. For existing and new borrowers, this hints to continued low interest rates.


Here are a few examples of the new down payment requirements:


$500,000 ............ $25,000 ............... 5.00%

$550,000 ............ $30,000 ............... 5.45%

$600,000 ............ $35,000 ............... 5.83%

$650,000 ............ $40,000 ............... 6.15%

$700,000 ............ $45,000 ............... 6.43%

$750,000 ............ $50,000 ............... 6.67%

$800,000 ............ $55,000 ............... 6.88%

$850,000 ............ $60,000 ............... 7.06%

$900,000 ............ $65,000 ............... 7.23%

$950,000 ............ $70,000 ............... 7.37%

$999,999 ............ $74,999 ............... 7.50%



I have sold a property at 7272 INLET DR in Burnaby.
A solidly built, well maintained bungalow on a generous 9,156 sq. ft. lot with beautiful views of the North Shore Mountains and Burrard Inlet. This family home has five bedrooms, two updated bathrooms, a renovated kitchen and a large living/dining area. The basement is finished with a brand new two bedroom suite that will assist with your mortgage. The landscaped west facing front yard is ideal for a vegetable garden while the mature back garden is perfect for children and pets and provides ample space for entertaining and relaxing. The home is within walking distance to all levels of schools as well as shopping at Kensington Plaza and recreational facilities such as Kensington ice rink and outdoor pool. Busses to SFU or downtown are only steps away. Call today to book a private showing.
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I have sold a property at 6637 DUNBAR ST in Vancouver.
Southlands, one of the prettiest neighbourhoods in Vancouver. Enjoy this countryside setting, close to the Fraser River, Pacific Spirit Park and golf courses. Large 74.25 x 132 Lot. ( 9,800 sq ft) Perfect to build your dream home or renovate this West Coast contemporary! This home is very unique and has all of your living space on one level. The skylights bring the outdoors inside and the house is very much immersed in the natural setting. Four bedrooms, 2 bathrooms, gas fireplace, air conditioning and west facing private backyard. Close to top schools: St. George's, Crofton House, Southlands Elementary, Point Grey Secondary School. Direct transit to UBC's main campus is two blocks away. Dunbar & Kerrisdale shopping close by.
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I have sold a property at 102 2295 PANDORA ST in Vancouver.
Ground level 1 bedroom condo across from Pandora Park in the fantastic East Village neighborhood. The suite is move-in ready in a solid, well run building that has been fully rain screened. Some features include: outdoor deck, in-suite laundry, gas fireplace, an open concept renovated kitchen with Corian counters and stainless appliances, bamboo floors throughout. Exceptional location!, just a short walk to transit, coffee shops, stores like Donald's Market, breweries, trendy restaurants and bars, only a short drive to Downtown or N Van. Pet friendly.
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I have sold a property at 305 1206 14TH AVE W in Vancouver.
Boutique building with only 7 units, TOP floor 2 bedroom 2 full baths with skylights. Very Spacious at 1,066 sq. ft. Excellent layout and great use of space, Views of the mountains, city and trees! This would be a fun renovation project! Light exposure on 3 sides. Wood burning fireplace. Complete with 1 parking and 1 storage locker. Exceptional value for this generous sized condo.
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I have sold a property at 407 1206 14TH AVE W in Vancouver.
Rarely available 2 bedroom 2 bath Penthouse (only unit on the top floor) in a boutique 7 unit building. Features generous size living space. Large Master bedroom with a walk-in closet and ensuite. The unit boasts 3 balconies with an abundance of natural light, wood burning fireplace, skylights in the bathrooms and plenty of storage. Private patio with views of the North Shore mountains and stunning city skyline. Walking distance to the best shops of South Granville Very private and quiet. Enjoy Living this unique lifestyle.
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I have sold a property at PH 11 760 KINGSWAY ST in Vancouver.
Penthouse living! 2 Bedroom 2 Bathroom in one of East Van's most up and coming neighbourhoods. Steps to transit, schools, parks, shopping, great new restaurants, and coffee shops: Sal y Limon, Los Cuervos, Les Faux Bourgeois, Savio Volpe, to name a few, and only minutes away from Main Street and downtown. Move-in ready with a huge master bedroom and walk in closet, in-suite laundry, lots of storage, all new appliances, cozy fireplace, plus North Shore Mountain views! Parking and storage are included in this pet-friendly building.
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I have sold a property at 205 756 GREAT NORTHERN WAY in Vancouver.
Large Studio condo in a concrete building. Great location close to Main Street, Commercial Drive and the up and coming False Creek Flats : Minutes to downtown, bike path across the street and 2 blocks to Skytrain/Bus. Parking, storage locker and Murphy bed included. Building updates: curaflow system for piping, double pane windows, updated lobby. Mountain views (on a clear day), pets allowed (with restrictions) and rentals allowed (at max) currently tenanted until the end of May.
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I have sold a property at 58 15355 26 AVE in Surrey.
Location, Location, Location! The sought after SOUTHWIND complex is family friendly and offers plenty of room to spread out. Main floor kitchen / family room features access to fenced backyard. Separate dining & living room with gas fireplace and powder room all on the main. Upstairs offers 3 bedrooms, 2 full baths + BONUS loft with big media room AND 4th bedroom with private deck with great mountain view. Good storage in tandem garage. Complex features clubhouse, playground. Close to Sunnyside Park, tennis, shopping, restaurants, transit, fwy and border. OPEN HOUSE SATURDAY AND SUNDAY 2:00 - 4:00!
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I have sold a property at 1980 19TH AVE E in Vancouver.
Thoughtfully redesigned for family life, entertaining, maintaining character and maximizing the view, this beautiful house was renovated to the studs in 2007. Bright open main with cofferred ceilings, crown molding, marmoleum floors and a truly gorgeous view of Trout Lake & mountains. 4 bdrms, 3 baths include a full master floor up, 2nd lg bdrm on main great for 2 kids to share + 2 bdrms down. Lovely garden & private yard perfect for summer barbeques! The best of Vancouver living with the lake, park, Farmers Market & Community Centre literally at your doorstep plus vibrant Commercial Dr so close by. Quick walk to buses & 2 skytrains, minutes to Hwy, short drive DT. Close to all levels of schools, public & private. A superb home! Open Thurs 04/06 5-7 Sat/Sun 8/9 2-4
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I have sold a property at 2102 850 ROYAL AVE in New Westminster.
Exquisite Pent-house 3 bed+ 2 bath @ The Royalton. Completely updated with high end fixtures throughout. Tile foyer meets hardwood flooring that flows thru the living/dining room to expansive views South & West. 2 balconies on both side of the suite extends your living space in the warm months. Updated light fixtures, Kitchen with new sink, faucet, stainless appliances on a tile floor and hot water tank are only few of the many upgrades. The master shares the same river view with floor to ceiling windows plus a 5 piece ensuite. On the opposite side of the home, a 3 piece main bathroom is shared by 2 more bdrms. Within this well kept tower you can take advantage of the well equipped gym & common area party room available to rent for family events.
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I have sold a property at 222 7531 MINORU BLVD in Richmond.
CYPRESS POINT. This is one of Richmond’s most popular buildings! Rainscreened building, 951 sq. ft. 2 bedrooms 1 bath. Tasteful renovations which include new kitchen cabinets, quartz counters & stainless steel appliances, new bathroom vanity, quartz counters, taps & lighting. Fabulous layout ... with a cozy wood burning fireplace & peaceful courtyard - mountain views. lnsuite laundry & good size storage locker too. Enjoy the facilities: club house, exercise room, pool, sauna & hot tub. Great Catchment School: Ferris Elementary and Richmond High. All minutes from Richmond Centre Shopping, Canada Line & Minoru Park. Rentals allowed. dogs.
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I have sold a property at 6425 ADERA ST in Vancouver.
Beautiful level lot offering over 72' of frontage in one of Vancouver's prime locations - South Granville (N of W 49th). Well positioned being far away enough from W 49th - quiet, plus the feature of a lovely west facing back yard. Minimal trees, but predominantly along the property's south edge, so ideal if for redevelopment. Great RS-3 zoning back lane & still very livable home. With 4 lovely bedrooms up, beautiful main principal rooms offering a large hall, Living room Dining Room plus a Family room or den with a fireplace in that room as well. Has been in the family since 1965.
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I have sold a property at 401 5325 WEST BOULEVARD in Vancouver.
Boulevard Private Residences, This brand new, never lived in 2 bedroom 2 bath top floor condo is on the quiet side of the building. The contemporary living space offers, 9' ceilings, huge windows, a 158 sq. ft. balcony ,Fisher & Paykel appliances, engineered hardwood floors, Caesarstone countertops, gas cooktop and a top of the line air conditioning system. The quaint charm of Kerrisdale provides boutiques, restaurants and coffee shops all within an easy walk. Built by renowned builder, Redekop development. The 2-5- 10 warranty is in place for your peace of mind.
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I have sold a property at 202 4028 KNIGHT ST in Vancouver.
Welcome to King Edward Village. Quiet corner unit facing South & East, cool in summer & warm in winter. Newly painted, crown mouldings, 8'10" high ceiling, new laminate flooring. 2 bedrooms, 2 baths, den with windows. Insuite storage & laundry, open living / dining & kitchen, perfect for entertaining. Spacious kitchen with granite counter tops and a breakfast bar. Owner occupied, shows very new. Just neat & clean. 1 underground parking & storage locker. Pets & rentals allowed. Very central location, steps to Save On & library, Kingsway shopping & restaurants. Transit to Downtown or UBC just at door. Easy access to Richmond and airport. Open house on Saturday (Feb 25) 2 - 4 pm.
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I have sold a property at 402 2295 PANDORA ST in Vancouver.
Top floor, 1 bedroom condo across from Pandora Park in the up and coming East Village neighborhood. The suite is move-in ready in a solid, well run building which has been fully rain screened. Some features include in-suite laundry, gas fireplace, and an open concept renovated kitchen, updated floors and bathroom. Exceptional west facing mountain/harbour views from just outside your front door and the east facing balcony overlooks character homes on a tree lined street. This is a great central location just a short walk to transit, coffee shops, stores like Donald’s Market, trendy restaurants and bars, only a short drive to Downtown.
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I have sold a property at 1832 WOODLAND DR in Vancouver.
Prime location on Woodland Drive two blocks from Commercial at 2nd. Cozy but dated home waiting for someone to restore its character; perhaps raise the house and add another floor, or a developer could build a duplex (RM-4). Right next door to all the shops, restaurants, and coffee spots on the Drive. Commercial-Broadway Skytrain, 84, and 99B are all a 10 minute walk away . Gorgeous spring garden.
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I have sold a property at 3736 PANDORA ST in Burnaby.
Italian built custom home located in one of Burnaby’s most desirable neighbourhoods. This elegant home features 4 bedrooms upstairs with an amazing master bath and walk in closet. The open plan living provides an entertainers dream layout. Your country style kitchen has top of the line appliances and brick accent wall. Rich hardwood floors, wainscoting, high ceilings, butler’s pantry, and a formal dining room with fireplace. Large office on main floor and built in computer work station upstairs. Deluxe theatre room downstairs, wine cellar and guest bedroom. Stereo speakers throughout the home and an attached 2 car garage! Enjoy entertaining on your south facing covered deck, take in the beautiful landscaping and views. This is truly a magnificent family home!
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I have sold a property at 1642 GRANT ST in Vancouver.
Do Not Miss Out on this large townhouse located half a block from Commercial Drive. Three bedrooms, three bathrooms 1347 Sq. ft. Great flow with an open plan living room ,dinning area and spacious kitchen with a gas stove for the chef in the house! A nice home for a family or someone who likes to entertain. Upstairs offers two good sized bedrooms with a walk in closet in the master bedroom and ensuite bathroom. Your top floor can be used as a bedroom , office or family room. An awesome complex with super friendly neighbours! 2 parking and lots of storage.
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I have sold a property at 4630 Baldwin ST in vancouver.
Must see!! Don't miss out on this well-constructed owner-built house on an RT-11 (duplex) corner lot. Tucked away in a quiet neighborhood, across the street from General Brock Park, this property enjoys mountain and park views and gives you options to buy and live, use as a holding property, or build up to a 2846 sqft Duplex (to be verified by city). Come view this beautiful well-kept home which features 3 bedrooms and 2 bathrooms upstairs, and a mortgage-helper suite and 2-car garage on the ground floor. This property is in an excellent location with a great walk-score, 5 minutes from the skytrain as well as various shops on Kingsway. Open Houses on Thurs. May 26th 6-7:30pm, and Sat-Sun May 28th-29th 1-4pm.
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I have sold a property at 1546 3RD AVE E in Vancouver.
HUGE OPPORTUNITY and RARELY available RM-4 zoned 25 x 127 property located in a desirable pocket of THE DRIVE. This property currently features an original condition Vancouver character old timer with South facing, flat rear yard with lane access. The lot offers the possibility for a DUPLEX or a DUPLEX with COACH HOUSE. Buyer to verify all property information and zoning capabilities with the City of Vancouver. 10 minutes to Downtown, steps to Commercial Drive and so much more! BE QUICK ON THIS ONE!
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