Carol Palfrey Associate Broker " The Eastside is my Neighbourhood "

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

ARE YOU PLANNING TO BUY A HOUSE OVER $500K?

 

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%

 

 

 
Please visit our Open House at 4445 WALDEN ST in Vancouver.
Open House on Saturday, February 11, 2017 1:00PM - 2:30PM
Located in the highly desirable Main street corridor, this livable home is perfect for re development. The upper floor features 2 bedrooms and a den, and the kitchen has been remodeled with new cabinets and granite counters. Lower floor has 1 bedroom and bath and would be easy to suit. Walk to shopping, Riley Park community centre, Q.E park, schools and transportation. Build your dream home in the heart of one of Vancouver's best family neighbourhoods! Open House Saturday February 11th 1:00 to 2:30
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Please visit our Open House at 4445 WALDEN ST in Vancouver.
Open House on Saturday, January 28, 2017 1:00PM - 2:30PM
Located in the highly desirable Main street corridor, this livable home is perfect for re development. The upper floor features 2 bedrooms and a den, and the kitchen has been remodeled with new cabinets and granite counters. Lower floor has 1 bedroom and bath and would be easy to suit. Walk to shopping, Riley Park community centre, Q.E park, schools and transportation. Build your dream home in the heart of one of Vancouver's best family neighbourhoods! Open house Saturday January 28th 1:00PM to 2:30PM
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Please visit our Open House at 4445 WALDEN ST in Vancouver.
Open House on Saturday, January 21, 2017 1:00PM - 3:00PM
Located in the highly desirable Main street corridor, this livable home is perfect for re development. The upper floor features 2 bedrooms and a den, and the kitchen has been remodeled with new cabinets and granite counters. Lower floor has 1 bedroom and bath and would be easy to suit. Walk to shopping, Riley Park community centre, Q.E park, schools and transportation. Build your dream home in the heart of one of Vancouver's best family neighbourhoods! Open House Saturday January 21st 1-3 pm.
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I have listed a new property at 4445 WALDEN ST in Vancouver.
Located in the highly desirable Main street corridor, this livable home is perfect for re development. The upper floor features 2 bedrooms and a den, and the kitchen has been remodeled with new cabinets and granite counters. Lower floor has 1 bedroom and bath and would be easy to suit. Walk to shopping, Riley Park community centre, Q.E park, schools, and transportation. Build your dream home in the heart of one of Vancouver's best family neighbourhoods!
Read Full Story
I have sold a property at 259 32ND AVE E in Vancouver.
Character home in one of Vancouver's most family friendly neighbourhoods. South facing renovated charmer. Verandah to enjoy the sunshine and visits with friends and family. This block has a real sense of community with many social events and very friendly neighbours. Upstairs has 3 bedrooms, a large master and two kids rooms. The Main floor has a spacious living room/dining room with built in cabinetry and large windows. Enter the Kitchen and be drawn to the Stained glass window, maple cabinets, and views to the secure and private backyard with mature landscaping. Downstairs can easily be converted back to a suite. Your new neighborhood is one of the most sought after and convenient places to live. You can walk to everything, schools, shopping and transit.
Read Full Story
Please visit our Open House at 259 32ND AVE E in Vancouver.
Open House on Saturday, March 5, 2016 1:00 PM - 3:00 PM
Character home in one of Vancouver's most family friendly neighbourhoods. South facing renovated charmer. Verandah to enjoy the sunshine and visits with friends and family. This block has a real sense of community with many social events and very friendly neighbours. Upstairs has 3 bedrooms, a large master and two kids rooms. The Main floor has a spacious living room/dining room with built in cabinetry and large windows. Enter the Kitchen and be drawn to the Stained glass window, maple cabinets, and views to the secure and private backyard with mature landscaping. Downstairs can easily be converted back to a suite. Your new neighborhood is one of the most sought after and convenient places to live. You can walk to everything, schools, shopping and transit. Sneak peek March 3rd 5:30- 6:30 or by appt. Open House March 5th /6th 1-3 pm.
Read Full Story
I have listed a new property at 259 32ND AVE E in Vancouver.
Character home in one of Vancouver's most family friendly neighbourhoods. South facing renovated charmer. Verandah to enjoy the sunshine and visits with friends and family. This block has a real sense of community with many social events and very friendly neighbours. Upstairs has 3 bedrooms, a large master and two kids rooms. The Main floor has a spacious living room/dining room with built in cabinetry and large windows. Enter the Kitchen and be drawn to the Stained glass window, maple cabinets, and views to the secure and private backyard with mature landscaping. Downstairs can easily be converted back to a suite. Your new neighborhood is one of the most sought after and convenient places to live. You can walk to everything, schools, shopping and transit. Sneak peek March 3rd 5:30- 6:30 or by appt. Open House March 5th /6th 1-3 pm.
Read Full Story
Please visit our Open House at 259 32ND AVE E in Vancouver.
Open House on Thursday, March 3, 2016 5:30 PM - 6:30 PM Sneak Peek
Character home in one of Vancouver's most family friendly neighbourhoods. South facing renovated charmer. Verandah to enjoy the sunshine and visits with friends and family. This block has a real sense of community with many social events and very friendly neighbours. Upstairs has 3 bedrooms, a large master and two kids rooms. The Main floor has a spacious living room/dining room with built in cabinetry and large windows. Enter the Kitchen and be drawn to the Stained glass window, maple cabinets, and views to the secure and private backyard with mature landscaping. Downstairs can easily be converted back to a suite. Your new neighborhood is one of the most sought after and convenient places to live. You can walk to everything, schools, shopping and transit. Sneak peek March 3rd 5:30- 6:30 or by appt. Open House March 5th /6th 1-3 pm.
Read Full Story
I have sold a property at 5906 Main ST in Vancouver.
Brand new home on Main Street.
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I have sold a property at 298 45TH AVE E in Vancouver.
Main Street Corridor CORNER LOT! Nice quiet location adjacent to Macdonald park and on the bike lane. Original hardwood floors, wood burning fireplace and archways add to the character of this home. Two bedrooms upstairs with bathroom and Master bedroom on the main floor. Your living room and den offer you views across to the park. Downstairs offers a one or two bedroom mortgage helper. The front and back gardens are lovely and mature. Many homes in this neighbourhood have laneway houses.
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Please visit our Open House at 298 45TH AVE E in Vancouver.
Open House on Saturday, June 21, 2014 1:00 pm - 3:00 pm
Main Street Corridor CORNER LOT! Nice quiet location adjacent to Macdonald park and on the bike lane. Original hardwood floors, wood burning fireplace and archways add to the character of this home. Two bedrooms upstairs with bathroom and Master bedroom on the main floor. Your living room and den offer you views across to the park. Downstairs offers a one or two bedroom mortgage helper. The front and back gardens are lovely and mature. Many homes in this neighbourhood have laneway houses. See you at the Sneak Peek Wednesday June 18th 6:30 to 7:30 pm or the Open house on Saturday June 21st 1 to 3 pm.
Read Full Story
I have listed a new property at 298 45TH AVE E in Vancouver.
Main Street Corridor CORNER LOT! Nice quiet location adjacent to Macdonald park and on the bike lane. Original hardwood floors, wood burning fireplace and archways add to the character of this home. Two bedrooms upstairs with bathroom and Master bedroom on the main floor. Your living room and den offer you views across to the park. Downstairs offers a one or two bedroom mortgage helper. The front and back gardens are lovely and mature. Many homes in this neighbourhood have laneway houses. See you at the Sneak Peek Wednesday June 18th 6:30 to 7:30 pm or the Open house on Saturday June 21st 1 to 3 pm.
Read Full Story
Please visit our Open House at 298 45TH AVE E in Vancouver.
Open House on Wednesday, June 18, 2014 6:30 pm - 7:30 pm
Main Street Corridor CORNER LOT! Nice quiet location adjacent to Macdonald park and on the bike lane. Original hardwood floors, wood burning fireplace and archways add to the character of this home. Two bedrooms upstairs with bathroom and Master bedroom on the main floor. Your living room and den offer you views across to the park. Downstairs offers a one or two bedroom mortgage helper. The front and back gardens are lovely and mature. Many homes in this neighbourhood have laneway houses. See you at the Sneak Peek Wednesday June 18th 6:30 to 7:30 pm or the Open house on Saturday June 21st 1 to 3 pm.
Read Full Story
I have sold a property at 4835 PRINCE EDWARD ST in Vancouver.
Where is the city can you find a 36 x 183 lot? This is truly an urban oasis! You are welcomed to this character home by an English style garden and wisteria draping the front porch. The Main street location adds huge appeal as does the original character features. This meticulously maintained home has two bedrooms on the top floor with skylights bringing in natural light. The main floor has an open plan that includes a master bedroom, family room, dining room, kitchen and a cozy wood burning fireplace. Downstairs is a one bedroom mortgage helper. Lane way architectural plans are included in the sale price. Sneak peek Thursday May 23rd 6:30-7:30 pm. Open house Saturday/Sunday May 25th/26th 2:00-4:00 pm.
Read Full Story
Please visit our Open House at 4835 PRINCE EDWARD ST in Vancouver.
Open House on Sunday, May 26, 2013 2:00 pm - 4:00 pm
Where is the city can you find a 36 x 183 lot? This is truly an urban oasis! You are welcomed to this character home by an English style garden and wisteria draping the front porch. The Main street location adds huge appeal as does the original character features. This meticulously maintained home has two bedrooms on the top floor with skylights bringing in natural light. The main floor has an open plan that includes a master bedroom, family room, dining room, kitchen and a cozy wood burning fireplace. Downstairs is a one bedroom mortgage helper. Lane way architectural plans are included in the sale price. Sneak peek Thursday May 23rd 6:30-7:30 pm. Open house Saturday/Sunday May 25th/26th 2:00-4:00 pm.
Read Full Story
Please visit our Open House at 4835 PRINCE EDWARD ST in Vancouver.
Open House on Saturday, May 25, 2013 2:00 pm - 4:00 pm
Where is the city can you find a 36 x 183 lot? This is truly an urban oasis! You are welcomed to this character home by an English style garden and wisteria draping the front porch. The Main street location adds huge appeal as does the original character features. This meticulously maintained home has two bedrooms on the top floor with skylights bringing in natural light. The main floor has an open plan that includes a master bedroom, family room, dining room, kitchen and a cozy wood burning fireplace. Downstairs is a one bedroom mortgage helper. Lane way architectural plans are included in the sale price. Sneak peek Thursday May 23rd 6:30-7:30 pm. Open house Saturday/Sunday May 25th/26th 2:00-4:00 pm.
Read Full Story
I have listed a new property at 4835 PRINCE EDWARD ST in Vancouver.
Where is the city can you find a 36 x 183 lot? This is truly an urban oasis! You are welcomed to this character home by an English style garden and wisteria draping the front porch. The Main street location adds huge appeal as does the original character features. This meticulously maintained home has two bedrooms on the top floor with skylights bringing in natural light. The main floor has an open plan that includes a master bedroom, family room, dining room, kitchen and a cozy wood burning fireplace. Downstairs is a one bedroom mortgage helper. Lane way architectural plans are included in the sale price. Sneak peek Thursday May 23rd 6:30-7:30 pm. Open house Saturday/Sunday May 25th/26th 2:00-4:00 pm.
Read Full Story
Please visit our Open House at 4835 PRINCE EDWARD ST in Vancouver.
Open House on Thursday, May 23, 2013 6:30 pm - 7:30 pm
Where is the city can you find a 36 x 183 lot? This is truly an urban oasis! You are welcomed to this character home by an English style garden and wisteria draping the front porch. The Main street location adds huge appeal as does the original character features. This meticulously maintained home has two bedrooms on the top floor with skylights bringing in natural light. The main floor has an open plan that includes a master bedroom, family room, dining room, kitchen and a cozy wood burning fireplace. Downstairs is a one bedroom mortgage helper. Lane way architectural plans are included in the sale price. Sneak peek Thursday May 23rd 6:30-7:30 pm. Open house Saturday/Sunday May 25th/26th 2:00-4:00 pm.
Read Full Story
I have sold a property at 19 33RD AVE E in Vancouver.
Location, Location ! Nestled within one of Vancouver's Best neighborhoods, this home has Queen Elizabeth park at its doorstep, Hillcrest Community Centre around the corner and a short walk up to Main Street shops, schools, bike paths,winter farmers market and much more! Priced sharp for home buyers and investors alike, this affordable, south facing home has 3 bedrooms above and a 2 bedroom mortgage helper below. Evergreen trees line the frontage of the property. We invite you to come have a look at our first Open House on Saturday May 26th 2-4 pm. Don't miss your chance to be part of this fantastic neighborhood! OFFERS MONDAY MAY 28TH 5 PM. Email offers carol@macrealty.com
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Please visit our Open House at 19 33RD AVE E in Vancouver.
OPEN HOUSE: Saturday May 26th 2-4 pm
Location, Location ! Nestled within one of Vancouver's Best neighborhoods, this home has Queen Elizabeth park at its doorstep, Hillcrest Community Centre around the corner and a short walk up to Main Street shops, schools, bike paths,winter farmers market and much more! Priced sharp for home buyers and investors alike, this affordable, south facing home has 3 bedrooms above and a 2 bedroom mortgage helper below. Evergreen trees line the frontage of the property. We invite you to come have a look at our first Open House on Saturday May 26th 2-4 pm. Don't miss your chance to be part of this fantastic neighborhood!
Read Full Story
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