Bob Sethi, B.Comm | 604.273.2828

 

February 28, 2014


Effective May 1st, 2014, CMHC mortgage loan insurance premiums will be increasing. This change will affect:

  • Owner-occupied homeowner;
  • Self-employed homeowner; and
  • 1 to 4 unit rental properties.

How much will this affect you? On average, the increased premiums will equate to an approximate $5 increase in monthly mortgage payments - so not very much at all. The premium increases are also not expected to have any material impact on the Canadian housing market.


If you'd prefer to save the extra $5 per month, get your mortgage application in before May 1st, 2014 with one of my Preferred Mortgage Specialists. Call or email today.

 

 

 

*Special thanks to Randy Chin of RBC for notifying me of this announcment.

*This post made with information referenced from today's CMHC release.

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Please visit our Open House at 5 9691 ALBERTA RD in Richmond.
Open House on Sunday, February 23, 2014 12:00 pm - 5:00 pm
JADE, Tien Sher Homes' newest boutique townhome collection is nestled in Richmond's amenity and transit-rich North McLennan neighborhood. These new homes come with an impressive list of finishings: sleek quartz countertops; Samsung 5-piece S/S Kitchen appliances inc!. GAS range & French-door fridge; durable, wood laminate floors; porcelain tiles; Whirlpool front-load clothes washer & dryer; natural GAS BBQ outlet; B.I. security system; B.I. fire-resistant safe. Have your new home at Jade customized to your personal taste including finishings, upgrades, air conditioning, radiant heating plus so much more - ask us how today!
Read Full Story
Please visit our Open House at 108 13678 GROSVENOR RD in Surrey.
Open House on Sunday, February 23, 2014 12:00 pm - 5:00 pm
BALANCE by Tien Sher. Come enjoy your life and new home ownership in Surrey's new downtown, City Centre that's rich with public amenities, Skytrain & rapid transit, shopping, eateries, plus more. High-end finishes including sleek quartzcounters atop custom cabinetry, wood-laminate & tile floors, roomy 9' ceilings, plus an array of options to customize your new home. LIMITED TIME OFFER: Customize your new home for FREE with our SMOKIN' KITCHEN PROMO on now! Ask how!
Read Full Story
Please visit our Open House at 401 13678 GROSVENOR RD in Surrey.
Open House on Sunday, February 23, 2014 12:00 pm - 5:00 pm
Exceptional open layout in this top floor spacious corner home in the Balance. All homes in Balance offer high-end finishes including quartz countertops, Brushed oak laminate flooring, Energy Star S/S appliances, and for your peace mind weoffer secure double gated parkade, individually coded security key fobs with video surveillance entry system and so much more! All this nestled in a residential neighborhood offering 6 min. walk to Skytrain, shopping, restaurants, SFU campus, parks and more! Limited Time Offer: Customize your new home for FREE with our SMOKIN' KITCHEN PROMO on now! Ask how!
Read Full Story
Please visit our Open House at 110 13678 GROSVENOR RD in Surrey.
Open House on Sunday, February 23, 2014 12:00 pm - 5:00 pm
A BRAND NEW 2 bedroom condo for under $230,000?! Affordable home ownership is actually an option at Balance, the only development of its kind in Canada. Enjoy worry free, new home ownership in Surrey's new downtown, City Centre. Rich with public amenities Balance is only minutes away from sky train, shopping, eateries, park, and brand new public library, SFU Campus, brand new City Hall & brand new Chuck Bailey Rec Centre. High end finishes including sleek quartz counters a top custom cabinetry, wood laminate & tile floors, roomy 9' ceiling, plus an array of option to customize your new home. Hurry, suite 110 is the ONLY 2 bedroom unit in Balance. LIMITED TIME OFFER: Customize your new home for FREE with our SMOKIN' KITCHEN PROMO on now! Ask how!
Read Full Story
Please visit our Open House at 405 13728 108TH AVE in Surrey.
Open House on Sunday, February 23, 2014 12:00 pm - 5:00 pm
QUATTRO 3 by Tien Sher. New, move-in ready homes in Surrey's new amenity-rich downtown. "City Centre". Minutes from skytrain and walking distance to it all. Includes all the finest finishes: granite counter atop custom cabinets, 5-pieceWhirlpool kitchen appliance package, 2-piece Samsung front-loading clothes washer/dryer, oversized windows, plus more. PARKING and storage included. Call today or visit Presentation Centre to see finished homes.
Read Full Story
Please visit our Open House at 15 9691 ALBERTA RD in Richmond.
Open House on Sunday, February 23, 2014 12:00 pm - 5:00 pm
New 1-bedroom GARDEN SUITES from Tien Sher Homes - YOUR GREEN ALTERNATIVE to apartment living in Richmond's amenity & transit-rich North McLennan neighborhood. SINGLE-LEVEL new homes with front doors offer you the chance to connect withyour own, private outdoor patio & garden. STANDARD FINISHES include radiant floor heating; sleek quartz countertops; Samsung/Maytag S/S Kitchen appliances with GAS range & French-door fridge; durable wood laminate floors; porcelain tiles; Whirlpool frontload clothes washer & dryer; natural GAS BBQ outlet; B.I. security system; B.I. fire-resistant safe. Ask us how to add your personal touch with CUSTOMIZABLE FINISHES AND LAYOUTS! Call or COME VIEW TWO FURNISHED SHOWHOMES TODAY!
Read Full Story
Please visit our Open House at 10 9691 ALBERTA RD in Richmond.
Open House on Sunday, February 23, 2014 12:00 pm - 5:00 pm
Tien Sher Homes' JADE offers the LARGEST CUSTOMIZABLE NEW HOMES in Richmond's central North McLennan neighborhood. SPACIOUS 1,800 sf, 3-bdrm plus den layout with 2-car side-by-side garage can be upgraded to a 4-bdrm plus den! An impressive list of STANDARD FINISHES await you incl including: sleek Quartz counters; 5-pc Samsung S/S Kitchen appliances with GAS range & French-door refrigerator; durable wood laminate main floors; Whirlpool front- load clothes washer & dryer; natural GAS BBQ outlet in outdoor deck/balcony areas; B.I. security; plus B.I. fire-resistant safe for your valuables. Ask us how to add your personal touch with CUSTOMIZABLE FINISHES AND LAYOUTS! Call or come VIEW TWO FURNISHED SHOWHOMES TODAY!
Read Full Story
Please visit our Open House at 110 13678 GROSVENOR RD in Surrey.
Open House on Saturday, February 22, 2014 12:00 pm - 5:00 pm
A BRAND NEW 2 bedroom condo for under $230,000?! Affordable home ownership is actually an option at Balance, the only development of its kind in Canada. Enjoy worry free, new home ownership in Surrey's new downtown, City Centre. Rich with public amenities Balance is only minutes away from sky train, shopping, eateries, park, and brand new public library, SFU Campus, brand new City Hall & brand new Chuck Bailey Rec Centre. High end finishes including sleek quartz counters a top custom cabinetry, wood laminate & tile floors, roomy 9' ceiling, plus an array of option to customize your new home. Hurry, suite 110 is the ONLY 2 bedroom unit in Balance. LIMITED TIME OFFER: Customize your new home for FREE with our SMOKIN' KITCHEN PROMO on now! Ask how!
Read Full Story
Please visit our Open House at 302 13678 GROSVENOR RD in Surrey.
Open House on Saturday, February 22, 2014 12:00 pm - 5:00 pm
Balance connects you to Surrey's new transit, shopping, and amenity rich downtown. City Centre. Come in today for no compromise housing affordability. Own with 2% down payment. ASK how! (5 minute walk from Gateway Skytrain Station)
Read Full Story
Please visit our Open House at 405 13728 108TH AVE in Surrey.
Open House on Saturday, February 22, 2014 12:00 pm - 5:00 pm
QUATTRO 3 by Tien Sher. New, move-in ready homes in Surrey's new amenity-rich downtown. "City Centre". Minutes from skytrain and walking distance to it all. Includes all the finest finishes: granite counter atop custom cabinets, 5-pieceWhirlpool kitchen appliance package, 2-piece Samsung front-loading clothes washer/dryer, oversized windows, plus more. PARKING and storage included. Call today or visit Presentation Centre to see finished homes.
Read Full Story
Please visit our Open House at 15 9691 ALBERTA RD in Richmond.
Open House on Saturday, February 22, 2014 12:00 pm - 5:00 pm
New 1-bedroom GARDEN SUITES from Tien Sher Homes - YOUR GREEN ALTERNATIVE to apartment living in Richmond's amenity & transit-rich North McLennan neighborhood. SINGLE-LEVEL new homes with front doors offer you the chance to connect withyour own, private outdoor patio & garden. STANDARD FINISHES include radiant floor heating; sleek quartz countertops; Samsung/Maytag S/S Kitchen appliances with GAS range & French-door fridge; durable wood laminate floors; porcelain tiles; Whirlpool frontload clothes washer & dryer; natural GAS BBQ outlet; B.I. security system; B.I. fire-resistant safe. Ask us how to add your personal touch with CUSTOMIZABLE FINISHES AND LAYOUTS! Call or COME VIEW TWO FURNISHED SHOWHOMES TODAY!
Read Full Story
Please visit our Open House at 10 9691 ALBERTA RD in Richmond.
Open House on Saturday, February 22, 2014 12:00 pm - 5:00 pm
Tien Sher Homes' JADE offers the LARGEST CUSTOMIZABLE NEW HOMES in Richmond's central North McLennan neighborhood. SPACIOUS 1,800 sf, 3-bdrm plus den layout with 2-car side-by-side garage can be upgraded to a 4-bdrm plus den! An impressive list of STANDARD FINISHES await you incl including: sleek Quartz counters; 5-pc Samsung S/S Kitchen appliances with GAS range & French-door refrigerator; durable wood laminate main floors; Whirlpool front- load clothes washer & dryer; natural GAS BBQ outlet in outdoor deck/balcony areas; B.I. security; plus B.I. fire-resistant safe for your valuables. Ask us how to add your personal touch with CUSTOMIZABLE FINISHES AND LAYOUTS! Call or come VIEW TWO FURNISHED SHOWHOMES TODAY!
Read Full Story
Please visit our Open House at 5 9691 ALBERTA RD in Richmond.
Open House on Saturday, February 22, 2014 12:00 pm - 5:00 pm
JADE, Tien Sher Homes' newest boutique townhome collection is nestled in Richmond's amenity and transit-rich North McLennan neighborhood. These new homes come with an impressive list of finishings: sleek quartz countertops; Samsung 5-piece S/S Kitchen appliances inc!. GAS range & French-door fridge; durable, wood laminate floors; porcelain tiles; Whirlpool front-load clothes washer & dryer; natural GAS BBQ outlet; B.I. security system; B.I. fire-resistant safe. Have your new home at Jade customized to your personal taste including finishings, upgrades, air conditioning, radiant heating plus so much more - ask us how today!
Read Full Story
Please visit our Open House at 108 13678 GROSVENOR RD in Surrey.
Open House on Saturday, February 22, 2014 12:00 pm - 5:00 pm
BALANCE by Tien Sher. Come enjoy your life and new home ownership in Surrey's new downtown, City Centre that's rich with public amenities, Skytrain & rapid transit, shopping, eateries, plus more. High-end finishes including sleek quartzcounters atop custom cabinetry, wood-laminate & tile floors, roomy 9' ceilings, plus an array of options to customize your new home. LIMITED TIME OFFER: Customize your new home for FREE with our SMOKIN' KITCHEN PROMO on now! Ask how!
Read Full Story
Please visit our Open House at 401 13678 GROSVENOR RD in Surrey.
Open House on Saturday, February 22, 2014 12:00 pm - 5:00 pm
Exceptional open layout in this top floor spacious corner home in the Balance. All homes in Balance offer high-end finishes including quartz countertops, Brushed oak laminate flooring, Energy Star S/S appliances, and for your peace mind weoffer secure double gated parkade, individually coded security key fobs with video surveillance entry system and so much more! All this nestled in a residential neighborhood offering 6 min. walk to Skytrain, shopping, restaurants, SFU campus, parks and more! Limited Time Offer: Customize your new home for FREE with our SMOKIN' KITCHEN PROMO on now! Ask how!
Read Full Story

 

Government reduces tax burden on first-time buyers

 



First-time home buyers received some welcome news in today’s provincial budget.

 

The Liberal Government announced, effective February 19th, 2014, qualifying first-time buyers can buy a home worth up to $475,000 under the Property Transfer Tax (PTT) First-Time Home Buyers’ Exemption program. This is a significant increase where the previous threshold was $425,000.

 

In addition, homes priced $475,000 to $500,000 qualify for the continuiing partial exemption falling more in-line with B.C.'s housing prices, most notably in Metro Vancouver.

 

With this change, the government estimates 1,700 additional first-time buyers will annually be eligible to save up to $7,500 in PTT when buying their home.

 

These new exemptions are estimated to cost $8 million in lost tax revenue each year.

 

Together with BC Real Estate Association, the BC Real Estate Board has actively lobbied to make home ownership more affordable for first-time homebuyers. The increased limits in the threshold indicate these lobbying efforts on behalf of the public have paid off. Note that in 2008, as a result of industry lobbying, the provincial government increased the threshold to $425,000 from $375,000. And, in 2005, the government increased the threshold to $325,000 from $275,000.

 

The PTT is calculated at a rate of one per cent on the first $200,000 and two per cent on the remaining value of the purchase price.


Find out how the new exemption limits affect you by contacting me today at bob@bobsethi.com

 

For more on the Budget, http://www.bcbudget.gov.bc.ca/2014/default.htm

 

Based on reporting from the real estate board of greater vancouver.

Post CommentComments: 0Read Full Story
Please visit our Open House at 401 13678 GROSVENOR RD in Surrey.
Open House on Sunday, February 16, 2014 12:00 pm - 5:00 pm
Exceptional open layout in this top floor spacious corner home in the Balance. All homes in Balance offer high-end finishes including quartz countertops, Brushed oak laminate flooring, Energy Star S/S appliances, and for your peace mind weoffer secure double gated parkade, individually coded security key fobs with video surveillance entry system and so much more! All this nestled in a residential neighborhood offering 6 min. walk to Skytrain, shopping, restaurants, SFU campus, parks and more! Limited Time Offer: Customize your new home for FREE with our SMOKIN' KITCHEN PROMO on now! Ask how!
Read Full Story
Please visit our Open House at 302 13678 GROSVENOR RD in Surrey.
Open House on Sunday, February 16, 2014 12:00 pm - 5:00 pm
Balance connects you to Surrey's new transit, shopping, and amenity rich downtown. City Centre. Come in today for no compromise housing affordability. Own with 2% down payment. ASK how! (5 minute walk from Gateway Skytrain Station)
Read Full Story
Please visit our Open House at 405 13728 108TH AVE in Surrey.
Open House on Sunday, February 16, 2014 12:00 pm - 5:00 pm
QUATTRO 3 by Tien Sher. New, move-in ready homes in Surrey's new amenity-rich downtown. "City Centre". Minutes from skytrain and walking distance to it all. Includes all the finest finishes: granite counter atop custom cabinets, 5-pieceWhirlpool kitchen appliance package, 2-piece Samsung front-loading clothes washer/dryer, oversized windows, plus more. PARKING and storage included. Call today or visit Presentation Centre to see finished homes.
Read Full Story
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Bob Sethi, B.Comm
Office:604.273.2828
Fax:604.273.0685
RE/MAX Westcoast
#110-6086 Russ Baker Way
Richmond, BC
V7B 1B4 Canada

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