Updated & Immaculate, Views, Super Yard & RV Parking
in Agassiz, AgassizAnnouncing a price drop on 7504 LAUREL PLACE, a 1910 sqft, 2 bath, 3 bdrmother. Now FOR SALE CAD569,900 . Updates, Updates! Pride of Ownership is Evident
Updated & Immaculate, Views, Super Yard & RV Parking
in Agassiz, AgassizAnnouncing a price drop on 7504 LAUREL PLACE, a 1910 sqft, 2 bath, 3 bdrmother. Now FOR SALE CAD569,900 . Updates, Updates! Pride of Ownership is Evident
CMHC is giving lenders more guidance and flexibility on determining whether a self-employed person qualifies for a mortgage.
OTTAWA — Canada Mortgage and Housing Corp. is making changes intended to make it easier for the self-employed to qualify for a mortgage.
The national housing agency says it’s giving lenders more guidance and flexibility to help self-employed borrowers. Self-employed Canadians may have a harder time qualifying for a mortgage as their incomes may vary or be less predictable.
Self-employed Canadians are key contributors to strong and vibrant communities and make up about 15% of Canada’s population. However, they may have difficulty qualifying for a mortgage as their incomes may vary or be less predictable.
In line with the National Housing Strategy’s mission to address the housing needs of all Canadians, Canada Mortgage and Housing Corporation (CMHC) is making a number of changes aimed at giving lenders more guidance and flexibility to help self-employed borrowers:
Providing examples of factors that can be used to support the lender’s decision to lend to self-employed borrowers who have been operating their business for less than 24 months, or in the same line of work for less than 24 months such as acquiring an established business, sufficient cash reserves, predictable earnings and previous training and education; and
Providing a broader range of documentation options to increase flexibility for satisfying income and employment requirements when qualifying self-employed borrowers such as the Notice of Assessment (NOA) accompanied by the T1 General, the CRA Proof of Income Statement and the Statement of Business or Professional Activities (T2125) to support an “add back” approach for grossing up income for sole proprietorship and partnerships.
These enhancements, which apply to both transactional and portfolio insurance, will take effect October 1, 2018.
As Canada’s authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and information to Canadian governments, consumers and the housing industry.
Shannon Babcock PREC Buy Smart. Sell Smart.
Committed to Your Real Estate Success
Century 21 Creekside Realty
Cell: 604-795-1081 https://www.shannonbabcock.com
E-mail: shannonbsells@gmail.com
Twitter: @shannonbsells
President’s Club Award Winner 2008-2017
• 1188 sqft, 2 bath, 2 bdrmmanufactured home – FOR SALE CAD262,900 . PERFECTLY LOCATED & IMMACULATE MOBILE MLS® R2281410
in Sardis West Vedder Road, Chilliwack
NOT READY FOR CONDO LIFE?? How about this Downsizing Option? RARELY AVAILABLE! This Perfectly Located, Immaculate & Well Designed 2006 1188sf Mobile Home with 2 bedrooms and 2 full baths has LOADS OF EXTRA$$, Rounded Corners, 2×6 construction and drywalled for a true rancher feeling + heat pump for low cost heating and A/C for Summer. Gorgeous Airy Layout with Open Concept offers spacious rooms and an abundance of windows and storage. Lovely full maple cabinetry & skylights in the HUGE KITCHEN. Master Bedroom boasts Vaulted Ceilings, Massive Mirrored Closet and Roomy 3pc ensuite with walk-in shower. 6 appliances stay and designer window coverings. Beautiful outdoor living, You’ll Love the large private covered rear deck and patio. Private yard backs onto trees & creek…Allows for Peaceful Easy Living!
Situated in Cottonwood Park a Desirable A+ adult community in Sardis close to malls, on a bus route and the popular Luckakuck Walking trail is moments away. Social clubhouse, 2 pets ok w/restrictions. Call Today!
in Sardis West Vedder Road, ChilliwackAnnouncing a price drop on #43-7610 Evans Rd, a 1188 sqft, 2 bath, 2 bdrmmanufactured home. Now FOR SALE CAD262,900 . PERFECTLY LOCATED & IMMACULATE MOBILE MLS® R2281410
Although BC’s economy remains strong, home sales in Chilliwack and area took a noticeable dip last month, pointing to one significant factor – the impact of the “stress test”.
At a time of year when sales are typically at their strongest, 324 home sales were recorded last month, compared to 511 during the same month last year. This represents a 36% decline over last May, in line with the provincial average.
“With all other variables being fairly constant such as a strong provincial economy and moderate hikes in interest rates, the drop can be attributed to the more stringent lending rules introduced by the federal government early this Spring,” said Chilliwack and District Real Estate Board (CADREB) President, Lori Maier.
Under the new regulations, potential home buyers need not only qualify for the amount borrowed on a new home, but have to be able to withstand any future mortgage rate interest hikes.
“This likely has caused some first-time buyers especially to put their home-buying plans on hold,” said Mrs. Maier. “The recent issues of a trade war isn’t helping to instill confidence either.”
Of the 324 sales posted last month, the highest number (40) were in the $550,000-$599,999 range followed by 39 in the $450,000-$499,999 range. There were 14 sales of homes over the $1 million mark, including 1 over $2 million. At 63, apartment sales were strong, indicating stronger demand for lower price points.
Supply of homes for sale is increasing to a healthier level, with 1,277 active listings on the market at the end of May, compared to 936 in May of last year. “With decreased sales, it has shifted the local real estate landscape from a seller’s towards a buyer’s market,” added the CADREB President.
“More than ever, whether you are buying or selling, it’s important to work with a qualified and experienced local REALTOR® to ensure that a property is priced right for the market conditions” Especially with competitive pricing due to fewer sales, the relative affordability of the Chilliwack and Area market remains attractive to buyers, particularly those from the Vancouver area.
“With the normalization of the market, even if purchases have to be downscaled a bit, it’s still a great time to buy. Real estate remains one of the soundest long-term investments a person can make”.
Chilliwack & District Real Estate Board 2018 Market Stats
Here’s what people are saying about working with Shannon.
Shannon knew what we wanted and hustled to help us purchase the perfect place. She made sure we were well informed and prepared, providing all the strata information on our desired complexes well in advance which helped us feel confident & win in a multiple offer. Her expertise, thoroughness and patience was much appreciated as we were moving from out of the area. She was very flexible, available and kept us in the loop always.
Shannon was awesome…All and all a great realtor and great person.
Thanks Shannon, We can’t wait to be Harrison Lake Estates residents!
Tess & Steve Shaw + Mr. Ben
Harrison Hot Springs -Harrison Lake Estates
Let Shannon help you find your best buy! Whether you are buying or selling a home, Shannon has the experience and expertise to guide you to properties or buyers you wish to connect with. And invites you to contact her as she’d be happy to assist you with this important transaction. Shannon can provide you with reports and important local real estate information or an email snap shot of what is currently listed or recently sold in certain areas.
With her High Standard of Performance since 2005, Market Savvy and Proven Track Record in Sales & Service, Shannon can provide you the expertise and personalized attention you expect & deserve.
Make a GREAT MOVE… Call Shannon today! She looks forward to hearing from you.
Buying or Selling?
Choose Service, Service, Service
Shannon Babcock Prec* Buy Smart. Sell Smart.
Committed to Your Real Estate Success
Century 21 Creekside Realty Ltd.
Cell: 604.795.1081
Office: 604.846.7355 https://www.shannonbabcock.com
E-mail: shannonbsells@gmail.com
Call Shannon Babcock Prec* for all your Real Estate Needs!
Thinking of Buying or Looking for an Investment? Come Check Out these 2 AWESOME Homes FOR SALE in Agassiz this Weekend on Laurel Place!
***OPEN HOUSE*** July 7 & 8th SAT & SUN 2-4pm
View Both to Be Entered into a Draw for a $50 Gift Card
7504 LAUREL PLACE $575,000
Updates & Pride of Ownership is Evident Here Inside & Out of this 1900+ sq.ft. Split Level Home on Quiet Cul-de-sac and Excellent Neighbours. Welcoming front entry, Bright Kitchen with ample cabinetry and gas stove, NEWER flooring & bathrooms, paint, blinds & drapery, Newer Windows, Awesome wood accented family room off dining area with vaulted ceilings & skylights offers lots of natural light & scenery.
A Great Place to Raise a Family or Ideal Retirement Location set on a Quiet Cul-de-sac this Tidy Well Maintained 4 bdrm. 2 full bath split level home has many features with spacious fenced yard, SUPER MOUNT CHEAM VIEWS, Large DECK, MASSIVE NEW PATIO, RV PARKING + ATTACHED 20×12 SHOP. RECENT QUALITY UPGRADES INSIDE & OUT including NEW 35yr Vinyl Duriod Roof on House & Shop, 1yr Hwt, All New Blinds and flooring, up, lighting & paint. Boasts an updated open wood kitchen w/ tons of cabinetry, fully renovated 5pc main bathroom and nice rec/family room downstairs. Loads of storage, parking and space for the Kids, Pets and Room for those putter projects or hobbies. Friendly neighbourhood, close to schools and parks… mins to Fraser River Fishing and Rec Center. DON’T DELAY, PRICED TO GET YOU MOVING
SHANNON BABCOCK PREC* Buy Smart. Sell Smart.
Committed to Your Real Estate Success
Century 21 Creekside Realty
Cell: 604-795-1081 https://www.shannonbabcock.com
E-mail: shannonbsells@gmail.com
Twitter: @shannonbsells
President’s Club Award Winner 2008-2017
