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Olena Osipov REALTOR® - Maple Ridge Real Estate

Federal Government Offers New Incentives for Home Buyers and Home Owners

First Time Buyer Yesterday, on January 27th, 2009, Government of Canada has announced more incentives for First Time Home Buyers and Home Owners in order to help them with the most important investment in their lives. The main idea behind these decisions is to increase:

a) housing affordability in addition to falling prices and already occured 15% price drop,

b) quality of life and

c) consumer confidence.

So, if you're a First Time Home Buyer or a Home Owner you just got richer by X amount of $s. "You're richer than you think"-Scotiabank:)

The incentives announced yesterday include:Home Buyer Plan

1. First Time Home Buyers Tax Credit of up to $750 to help homebuyers with closing costs such as land transfer taxes and legal fees.

2. Increase to the Home Buyers' Plan withdrawal limit to $25,000 from $20,000. Eligible couples can now withdraw up to $50,000.

3. Home Renovation Tax Credit of up to $1,350 for homeowners who renovate.

4. Funding program for ecoENERGY retrofits that provides home and property owners up to $5,000 for energy improvements.

Happy thinking, decision making and home buying. 778.991.3293

My buyers are looking for sellers...are you or know the lucky one ?!

Looking for sellers

I currently have buyers actively looking for the properties listed below. All my clients have been pre-approved for financing and are ready to make an offer. Currently I have more than 10 qualified buyers looking for properties to buy around Greater Vancouver Area.

Homeowners: If you want to save on real estate agent's commissions, facing a possible loss of your home or just need to sell please contact me at 778.991.3293.

Agents: If any of your properties meet the search criteria below please contact me at 778.991.3293.

Buyer #1

Area: Vancouver Downtown

Type of Property:1 Bedroom or 1 Bedroom+Den Condo

Size: 500-700 sq.feet

Budget: Up to $250,000

Specifics: Rentals allowed

Buyer #2

Area: Maple Ridge, Thornhill

Type of Property: Land with house with future development potential

Size: Minimum 3 acres

Budget: Up to$1,000,000

Specifics: No creeks or watercourses on land unless very large parcel

Buyer #3

Area: Vancouver, Burnaby, Coquitlam, Port Coquitlam, Port Moody, Sunshine Coast

Type of Property: House with 2 suites potential, duplex, triplex, fourplex

Size: Any

Budget:Any as long as it's a good deal

Specifics: A group of investors is looking for a great deal and positive cash flow

Buyer #4

Area: Coquitlam

Type of Property: House with min 4 bedrooms and suite/suite potential

Size: Minimum 3,000 sq.feet

Budget: $650,000

Specifics: Not older than 20 years.

Buyer #5

Area: Vancouver, Langley, Maple Ridge

Type of Property: Multifamily

Size: Any

Budget: Any

Specifics: Investment revenue property

Buyer #6

Area: Abbotsford, Langley

Type of Property: Townhouse

Size: Around 1,200 sq.feet

Budget: $240,000

Specifics: One level, 3 bedrooms

Buyer #7

Area: Surrey (North), Langley

Type of Property: House with suite/suite potential

Size: Around 2,000 sq.feet

Budget: $425,000

The Upside to the Dropping Real Estate Market in Canada!

So, really, why should you buy Real Estate when everybody seems to be running away from it?

Great Choice: Inventory levels of homes are extremely high all over Canada and US. It has never been a better time to find your perfect home. Even the fussiest buyer can satisfy his cravings today. Come on, if you can't make a selection today when can you do it then???

Time Is On Your Side: No more you have to rush through the house and if you like it write an offer on the trunk of your car as soon as you get out of the house. Those times are over and I'm very happy about it. Now I can make clients happier and more satisfied as I can find them a perfect home. You have time to choose and make a decision that will in fact benefit you in a long-term.

Low Interest Rates: They are historically low and the last time they have been this low was in 1950s. The prime rate is 3%. You can now get variable rate at prime+0.6% as opposed to prime+1.5% 3 months ago. Waiting any longer may not actually save you any money. Let's assume the house prices drop another 10%, you might pay $40,000 less for the same house in a year. But if interest rates go up have you saved any money? No! Your mortgage payments might end up to be even higher. Plus if you're renting how much have you spent on rent while waiting for the prices to come down? At least $12,000/year. It's all relative. Renting vs. buying is a whole new topic on its own which I'll publish very soon.

"I'll Buy When Prices Stop Dropping": First of all, nobody has a crystal ball and nobody knows how much more the house prices will drop. Please admit it! Secondly, how are you going to find out that prices stopped dropping? Unless you sign up to my newsletters the only way for you to find out is when people start buying more pushing prices up again. Will it be too late? Probably. You have missed a sale, you've missed a good deal.

You Can Negotiate: Sellers are very motivated right now. People who are selling today really have to sell and move. So you can get a heck of a deal (I just saw 3,500 sq.feet home today that sold for $560,000, asking price $630,000, in Westwood Plateau, Coquitlam). And you don't have to go into a bidding war although multiple offers still happen on very well-priced homes.

Take advantage of this amazing times and remember that successful people are those who buy when it's low and sell when it's high. Tri-Cities, Pitt Meadows and Maple Ridge Real Estate markets are no different and offer lots of opportunities for buyers today. Good luck in making your real estate decisions and if you need help with any of those call an Outstanding Agent for Outstanding Results at 778.991.3293.

First Time Home Buyers Seminar-Feb 16, 2009

THINKING OF BUYING A HOME?

First Time Buyer Vancouver

First Time Home Buyers Seminar

FREE Seminar, FREE Pre-Qualification, FREE List of Current Foreclosures

Door Prize-$50 Gift Card

Refreshments and donuts served

Monday, February 16th, 2009

6:30-8:30PM

Maple Ridge Library-Alouette Room, 2nd Floor

130-22470 Dewdney Trunk Road, Maple Ridge BC

Presented to you by:

Olena Osipov, B.Comm, REALTOR®, RE/MAX ridge-meadows realty

Liz Hall, Mortgage Specialist, Royal Bank

Roger Rygg, Home Inspector, Pillar to Post

Cheryl Bennewith, Notary Public

What you will learn at the seminar:

  • What are the downpayment sources?
  • Can I get pre-approved right now?
  • What are the steps in home buying process?
  • What is available in my price range?
  • List of current foreclosures
  • When is the best time to buy?
  • Have we hit the bottom yet?
  • Should I do an inspection?
  • How much are closing costs?

RSVP by phone 778.991.3293 or email olena.osipov@remax.net

Speechless Wednesday: Vancouver Above the Fog

From CBC's "Early Edition" website graciously forwarded to me by my very good friend Katie Kislova. Thanks, Katie!:)Vancouver in the Fog