https://www.youtube.com/edit?video_id=9tkkJVEPJbo&video_referrer=watch

 

http://www.rew.ca/news/how-this-summer-s-new-mortgage-rules-will-affect-you-1.1940366?utm_source=Business%20Information%20Group&utm_medium=email&utm_campaign=Consumer-Newsletter-May%2022%202015

 

How this Summer’s New Mortgage Rules Will Affect You

Three significant changes to the CMHC's mortgage rules will affect qualifying interest rates, down payments and income verification. Mortgage experts Jorge and Alisa Aragon explain what's in store

 

The mortgage industry has seen many changes on lending guidelines in the past five years that has made it tougher for prospective homebuyers to qualify. This summer, there are new mortgage rules heading our way.

The changes are intended to continue with the industry’s recent focus on risk management, as per the Office of the Superintendent of Financial Institutions (OSFI) B-21 guidelines. OSFI is an independent agency of the Government of Canada that has a mandate to contribute to the safety and soundness of the Canadian financial system. It is responsible for supervising and regulating federally registered banks, insurers, trusts and mortgage companies, in addition to private pension plans subject to federal oversight.

Now the CMHC (Canadian Mortgage and Housing Corporation) is implementing three policy changes in accordance to OSFI’s B-21 guidelines. These changes will make it harder to get low-ratio insured variable-rate mortgages, mortgages for the self-employed and 100 per cent financing.

The changes are as follows:

• Qualifying interest rate: The qualifying interest rate for all mortgages with variable and fixed terms of less than five years will increase from June 30. It will then be either the five-year Benchmark Qualifying Rate from the Bank of Canada (currently at 4.64 per cent) or the contractual mortgage interest rate, whichever is the greater. For fixed-rate mortgages, where the term is five years or more, the qualifying interest rate is the contract interest rate.
  CMHC is allowing some flexibility to implement this change, which is to be implemented as early as possible after June 30 and no later than December 31, 2015.
  What does this mean for you? Even if you are getting a lower interest rate on a term less than five years, in order to get approved for that rate you still have to qualify at the Benchmark Qualifying Rate (that is, you would be able pay the mortgage if it was at the qualifying rate). Previously, conventional mortgages could qualify at the lender discounted rate.
• Cash back for down payments: In order to encourage borrowers to save for homeownership, lenders’ cash back programs (where the lender will give the borrower up to 5 per cent of the value of the property in cash after the mortgage has been funded) will no longer be considered an eligible source of down payment unless borrowers can come up with a 5 per cent down payment on their own. This change will become into effect on June 30.
  This means that borrowers will need to get their down payment from traditional sources, such as savings, RRSPs (tax-exempt for first-time home buyers), gifts from immediate family, proceeds from the sale of another property, and so on.
• Verification of income: Lenders will now be required to obtain “third party verification” of income from all borrowers. This means lenders will be more stringent on income and employment verification. All lenders will have to call the employer for verification of tenure, position and income. Many lenders have already started asking for this information for quite some time. Some lenders are asking for bank statements for the past three months showing the deposit of your pay cheque into your bank account if the payroll is not prepared and paid by a third-party company such as ADP or Ceridian. This change will be effective on June 30.
  CMHC stopped insuring “stated income” financing for self-employed individuals. Genworth and Canada Guaranty are still offering this program. At this point, we don’t know if there will be any changes.
  This means that borrowers are going to have to provide quite a bit more documentation in order to verify income.

Why are All These Changes Happening?

The reason why there have been so many mortgage rule changes, and more are on the way, is to ensure that all lenders follow policy and guidelines to include income verification and ratio qualification set up by OSFI. Previously, some lenders have been issuing mortgages without properly obtaining the proof of income. Insurers will be required to do their own due diligence and not only rely on what the lenders are telling them.

In addition, with historic low interest rates, the Government of Canada wants to minimize the risk once interest rates start going up and prevent what happened in the US with mortgage crisis.

While these changes are under way, many lenders have already made these changes on their lending guidelines and policies since last year in order to minimize their exposure and reduce risk. While Genworth and Canada Guaranty haven’t announced changes on the third-party verification, because many lenders have, this will be the new norm in the industry.

The good news is that there are still some lenders out there that haven’t adjusted their policies and will not do so until required to do so on June 30. For this and many other reasons, it is beneficial to use a mortgage expert who works with multiple lenders to find the best mortgage for your unique situation.

- See more at: http://www.rew.ca/news/how-this-summer-s-new-mortgage-rules-will-affect-you-1.1940366?utm_source=Business%20Information%20Group&utm_medium=email&utm_campaign=Consumer-Newsletter-May%2022%202015#sthash.laWAAai4.dpuf

Selling with Mike.

 

http://bc.onepercentrealty.com/agentdetails.cfm?rid=721

 

 

First time I heard about this agency in 2003 but only in 2010 after had been a client of this fantastic real estate agency and saw how successfully works this idea   I made  decision to be a part of One Percent realty.

 

The Magic of  One Percent realty.

 

16YEARS IN THE INDUSTRY. OVER $1.1 BILLION SOLD ACROSS CANADA IN 2014.

 

The main question which my clients, friends, and even agents from the another companies usually ask me is -

 

Why is  One Percent realty so successful?

 

With the help of  the  new  technological advances such as the Internet, cell phones , social media, One Percent Realty was able to reduce the typical real estate office overhead as well as leverage the productivity advances of its agents to create a successful discount commission business model.

 

So our success is  a success of our clients when they get Full Service Real Estate agency, at a Fraction of the Cost!

 

 

I like this philosophy and as a former client

 

of One Percent realty can confirm this fact:

 

it's work perfectly well.

 

 

 

So How does it work?

 

 

 

You want full service on MLS® from a professional salesperson at a low commission – that's One Percent Realty.

 

For all homes under $600,000  we provide you full real estate services at a discount commission rate of only $6,900 ( $3,000 of that $6,900 flat fee goes to the real estate agent that represents the Buyer. Another $3,000 - to One Percent realty, and the $900 disbursement portion of the commission pays for the typical costs associated with marketing and selling a property. Those costs include MLS® fees, real estate office conveyancing to handle the office paperwork once you have a sale on the property, and of course an advertising and marketing budget.

 

Houses over $600,000 are 1% + $900. (0.5% - to each agencies,  and the same  $900 for admin fees ).

 

 

 

We have full cooperation with other real estate agents who sell approximately three quarters of our MLS® listing sales.
 

 

Why Sell Your House Through One Percent Realty?

 

 $6,900 versus $17,000 - the savings are HUGE!

 

 

 

  A $500,000 home can typically cost $17,000 to sell (assuming a 7% commission on the 1st $100,000 and 2.5% on the balance) in British Columbia through a full commission  company.

 

  Sell it through One Percent Realty, we will charge you $6,900 for this same $500,000 home, with all the services and exposure that you would receive from the traditional higher commission companies. This fee also includes payment to the buyer's agent (usually $3,000). I do open houses, handle the showings, negotiations, and paperwork that you would expect from any full service real estate company.

 

So selling your $500,000 home with us you can save ($17,000-$6,900=$10,100 ) $10,100 on commissions.

 

Usually at this moment of my listing presentation, the sellers mostly ask me

 

"Will Other Agents Show My Home?"

 

The simple answer is YES. Our MLS® listings are shown, and sold by lots of Cooperating REALTORS®  from full commission agenises all of the time. Logic would dictate that if our system was unable to attract Cooperating REALTORS® to sell our MLS® listings then we would be selling most of our own listings to our own Buyers. In fact, it's quite the opposite. Over 70% of our listing sales are sold by Cooperating REALTORS® representing the Buyer which is in line with industry standards. That is the proof in the pudding that our system works great. 

Why is that. We believe it is two reasons. Firstly, our listings (under $600,000) typically offer $3000 commission to Cooperating Brokers. While $3000 might not be as much as some of other listings, it still is a decent amount of money for a paycheque for Canadians these days including a lot of sales professionals. The more important reason why other agents cooperate and sell our listings is that it is the Buyers who are dictating the shots these days. Please see the 2 minuts video from One Percent realty Founder- Ian Bailey, and call me soon

 

https://www.youtube.com/watch?v=CXe9S0cVIsM&list=UUqeLrfMVgCItSOqy1t-tb9g

 

If the Buyer loves the home does the amount of  agent's commission matter to  the Buyer.

 

You Owe it to Yourself & Your Hard Earned Equity. 
 

 

Spending $12,000-$20,000 or more to sell your home is a lot of money. If you are thinking about selling your home call your regular agent that you used last time, but this time also call me to compare our services and commission rates. Being full service agent, I provide free no obligation market evaluations just like the other guys.

 

 Please don't let someone else tell you about our system and how One Percentraelty works, let us tell you exactly what we will do to sell your home. You and your hard earned equity will be glad you did.

 

 

 

Choosing the REALTOR® with working for, you can always ask about experiance the results.

 

Due to my 23+ years of management,  real estate sales, customer service, and  my 5 years with One Percent realty  experience, I'll sell your property for the best possible price, time, and conditions while saving thousands on commission. This is my goal.

 

As a Full Time agent, REALTOR®, and  a member on Greater Vancouver Real Estate Board,  I was involved in over 6.5 million dollars of sales in 2012, 7.5 million dollars of sales in 2013,

 

 and  9.06 million of sales   in 2014.

 

_{My clients saved in real estate transactions*}

 

_{In 2014- $160,500; 2013 - $141,000; 2012 - $85,100.}

 

_{*based on DECEMBER 2014  MLS} ®   

 

 

 

JUST CALL  OR TEXT ME NOW

 

 TO SET UP

 AN APPOINTMENT

 

 

 

What you save with One Percent Realty?   

 

 

 

Your House	1%	Typical commission MLS® agency*	Savings
$ 200,000	$ 6,900*	$ 9,500	$ 2,600
$ 300,000	$ 6,900*	$ 12,000	$ 5,100
$ 400,000	$ 6,900*	$ 14,500	$ 7,600
$ 500,000	$ 6,900*	$ 17,000	$ 10,100
$ 600,000	$ 6,900*	$ 19,500	$ 12,600
$ 700,000	$ 7,900*	$ 22,000	$ 14,300
$ 800,000	$ 8,900*	$ 24,500	$ 15,600
$ 900,000	$ 9,900*	$ 27,000	$ 17,100
$ 1,000,000	$ 10,900*	$ 29,500	$ 18,600
*compared with a broker charging 7% on the first $100,000 and 2.5% on the balance, not all agencies charge the same.

 

 

 

What the Sellers get with Mr. Mike-

 

Real Estate@ One Percent realty ltd ?

 

•     Full  Exposure on the MLS® system

•    World Wide Internet Exposure on REALTOR.ca

•    Advertisements on Craigslist.com and Kijiji.ca

•    Ads on http://fullservicelesscommissions.ca/

•    Ads on Onepercentrealry.com

•    Top Producer's results of Full Time real estate agent, REALTOR®

•    Free Local  Market Evaluation

•    Professional Photography and Virtual Tour

•    Responding to Consumer & REALTOR® Inquires

•    Weekly Sales Reports

•    Showing the Property to Prospective Buyers

•    Assisting the Seller in Negotiating

•    Cooperating & Assisting Other Brokerages

•    Assisting in the Completion & Possession process

•    Ads in Newspaper (if applicable)

•    Direct  Advertising

•    Mega Open Houses,

•    Personal showing or  lock boxes

•    Signage (if applicable)

•    Full Service Brokerage at a Fraction of the Cost

 

          Just added  2 new services

 

•    Advertisements in Social Media

•    Basic Staging

• JUST CALL ME OR TEXT ME NOW

 

604-644-6430 TO START

 

SAVING...TODAY.

 

 

 

What the Buyers get with Mr. Mike-

 

Real Estate@ One Percent realty ?

 

• Access to advanced MLS® on http://fullservicelesscommissions.ca/login.html

• Automatic notification of new coming listings

• Personal showing

• Market analysis

• Price negotiation

• Monthly stats with recommendations for buyers

 

 

 

_{My clients saved in real estate transactions*}

 

_{In 2014- $160,500; 2013 - $141,000; 2012 - $85,100.}

 

_{*based on DECENBER 2014  MLS} ® 

 

 

 

You can save thousands buying  or selling your home  when start use my marketing MEGA OPEN HOUSE system.

 

 

 

For TESTIMONIAL  please see this link -

 

 http://fullservicelesscommissions.ca/testimonials.html

 

Please  see the example of  professionally done Professional Photography -

 

 http://fullservicelesscommissions.ca/mylistings.html/details-35510263

 

Please see the example of  professionally done Virtual Tour-

 

  https://www.youtube.com/watch?v=pyb4OMVl5xw&list=UUqeLrfMVgCItSOqy1t-tb9g

 

 

 

CALL MIKE FOR FREE MARKET EVALUATION OF YOUR HOME AND FULL MLS®  SERVICE NOW.

 

604-644-6430.

 

mike@onepercentrealty.com

 

3 EASY WAYS HOW TO GET YOUR HOME EVALYATION ... TODAY

 

 

 

 1) BY PHONE  — CALL OR TEXT  MIKE 604-644-6430.

 

 2) BY EMAIL — SEND YOUR REQUEST TO MIKE@ONEPERCENTREALTY.COM.

 

 3) ONLINE—GO to

 

http://fullservicelesscommissions.ca/home-evaluation.html       

 

_{My clients saved in real estate transactions*}

 

_{In 2014- $160,500; 2013 - $141,000; 2012 - $85,100.}

 

_{*based on DECENMER 2014  MLS} ® 

 

 

Sell your home for only $6,900!
(Properties over $600,000 are 1% + $900)

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<<<<<< Mr. Mike Real Estate@One Percent realty presents>>>>>>>>

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Mr.Mike@One Percent realty presents.

 

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http://www.rew.ca/news/vancouver-and-bc-s-new-home-prices-keep-dropping-statcan-1.1935633?utm_source=Business%20Information%20Group&utm_medium=email&utm_campaign=Consumer-Newsletter-May%2015%202015

 

Vancouver and BC’s New Home Prices Keep Dropping: StatCan

Prices of newly built residences in the province and its two major cities continued their year-over-year decline in March, according to Statistics Canada

 By Joannah ConnollyREW.ca

Greater Vancouver, the Fraser Valley and BC’s resale home markets may be through the roof, but the prices of newly built residences in the province and its two major cities continued their year-over-year decline in March, according to Statistics Canada.

The national statistics organization reported May 14 that both BC as a whole and Vancouver saw 0.5 per cent year-over-year declines in the price of a new home. Victoria posted Canada’s second-largest decline at 1.3 per cent.

Vancouver and Victoria were two of only seven metropolitan regions to report annual drops in new home prices in January, out of a total of 21 areas surveyed.

The index combines both home and land values. As in previous months, the decreases in value were entirely attributed to developers reporting a drop in negotiated home prices, with land values remaining unchanged for several months.

Of all the metropolitan areas surveyed, Hamilton, Ontario recorded the largest annual increase in March, with prices up 3.2 per cent compared with the same month last year. Of the provinces, Ontario posted the biggest new housing price index rise, at 2 per cent.

Across Canada, March’s new housing price index increased 1.2 per cent year over year, and remained flat compared with the previous month – as did BC, Vancouver and Victoria.

To read the full report and view the interactive statistics chart, click here.

- See more at: http://www.rew.ca/news/vancouver-and-bc-s-new-home-prices-keep-dropping-statcan-1.1935633?utm_source=Business%20Information%20Group&utm_medium=email&utm_campaign=Consumer-Newsletter-May%2015%202015#sthash.ZAvwNp0w.dpuf 

http://www.rew.ca/news/hottest-april-in-a-decade-for-home-sales-in-bc-bcrea-1.1935496?utm_source=Business%20Information%20Group&utm_medium=email&utm_campaign=Consumer-Newsletter-May%2015%202015

 

Sales dollar volume across province up 45.5 per cent year over year and house prices up 13 per cent, says association

 

A total of 9,952 residential unit sales were recorded by the Multiple Listing Service in April, up 28.7 per cent from the same month last year, according to British Columbia Real Estate Association (BCREA) data released May 14.

Total sales dollar volume was $6.3 billion, a 45.5 per cent increase compared with April 2014. The average MLS residential price in the province rose to $634,744, a 13 per cent increase since last April.

“Last month was the strongest April for home sales in a decade,” said Cameron Muir, BCREA chief economist. “The elevated level of buying activity this spring is now expected to push 2015 home sales to their highest level since 2007.”

“Consumers are taking full advantage of rock-bottom interest rates and are demonstrating significant confidence in the housing market.

“However, dwindling inventories combined with competition for detached homes in the province’s large urban markets is pushing home prices higher.”

During the first four months of 2015, BC residential sales dollar volume rose 37.1 per cent to $19 billion, compared with the same period in 2014. Residential unit sales increased by 24.5 per cent to 30,091 units, and the average MLS residential price rose 10.1 per cent to $631,860.

- See more at: http://www.rew.ca/news/hottest-april-in-a-decade-for-home-sales-in-bc-bcrea-1.1935496?utm_source=Business%20Information%20Group&utm_medium=email&utm_campaign=Consumer-Newsletter-May%2015%202015#sthash.Uaxt2mpb.dpuf

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