Please visit our Open House at 102 1145 29TH ST E in North Vancouver.
OPEN HOUSE: Saturday July 28, 2-4 pm
An effortless move from a larger home can be yours ! Welcome to Lynn Valley's prestigious EVERGREENS, an award-wiinning complex of just 11 homes. Enjoy a very generous 2 bedroom, 1100 sq ft floor plan - it is immaculate and features a large white on white kitchen, 2 gorgeous new baths, living room with gas fireplace, exceptionally large master and its own private patio entry. No need to use the common entrance. There are lots of windows, new in-suite laundry, secure parking, extra storage and pets are welcome. This is a very well cared for, intimate complex - and a beautifully renovated suite. Just steps to all of Lynn Valley's amenities, including Lynn Valley Village, Lynn Valley Centre, & Browns Social House ! A tremendous opportunity and great value - the last sale in the building was well over $500,000 !
Read full post

Please visit our Open House at 306 1150 LYNN VALLEY RD in North Vancouver.
OPEN HOUSE: Saturday July 28, 2-4 pm
Here is a south east facing suite in a garden community of lovely homes in one of Lynn Valley's most desirable locations! Welcome to the "Laurels" ! A well cared for complex in a beautiful setting, and steps to the amenities of central Lynn Valley. This exceptionally well kept, TOP FLOOR 1 bed plus den is larger than most 2 bedroom homes, has 2 full baths, and shows to perfection. Quality finishing thru-out ! Heritage style interior doors, soaker tub, mirrored closet doors, marble tile entry. Extra features include large in suite laundry room, in floor radiant heat, gas fireplace & a very generous white on white kitchen with eating area & access to a large covered balcony. A very well maintained building with new shake roof underway, super-generous 1100 sq feet of living space, plus a 12' x 10' covered balcony for any-weather entertaining - what a package! Call NOW to view!
Read full post

Please visit our Open House at 1325 15TH ST E in North Vancouver.
OPEN HOUSE: Sunday July 29, 2-4 pm
TONS OF POTENTIAL ! A real opportunity here in central Westlynn. Terrific, sunny, south facing 70' x 157' lot with a solid 1960's 2 level, 2600 sq ft home that offers 3 bedrooms up, master with ensuite, 2 beds + den down, large rec room, and detached double garage. Home is primarily in original condition, but has been refreshed with paint throughout, some flooring, drainage, new roof in fall 2011, and would be easy to add secondary accommodation. Highlights are the generous floor plan, enormous back yard & deck, plus great parking options. A little vision and some sweat-equity, and you will create a terrific family home.
Read full post

We have listed a new property at 1325 15TH ST E in North Vancouver.
TONS OF POTENTIAL ! A real opportunity here in central Westlynn. Terrific, sunny, south facing 70' x 157' lot with a solid 1960's 2 level, 2600 sq ft home that offers 3 bedrooms up, master with ensuite, 2 beds + den down, large rec room, and detached double garage. Home is primarily in original condition, but has been refreshed with paint throughout, some flooring, drainage, new roof in fall 2011, and would be easy to add secondary accommodation. Highlights are the generous floor plan, enormous back yard & deck, plus great parking options. A little vision and some sweat-equity, and you will create a terrific family home.
Read full post

This Friday, July 27th The Matinee will be rocking Lynn Valley Village for one night only! A truly fantastic local band, with infectious songs and great stage presence, this is not  a show to be missed! Come out at 7:00PM to catch a FREE show and dance the night away with friends and family! 

 

Read full post

We have listed a new property at 306 1150 LYNN VALLEY RD in North Vancouver.
Here is a south east facing suite in a garden community of lovely homes in one of Lynn Valley's most desirable locations! Welcome to the "Laurels" ! A well cared for complex in a beautiful setting, and steps to the amenities of central Lynn Valley. This exceptionally well kept, TOP FLOOR 1 bed plus den is larger than most 2 bedroom homes, has 2 full baths, and shows to perfection. Quality finishing thru-out ! Heritage style interior doors, soaker tub, mirrored closet doors, marble tile entry. Extra features include large in suite laundry room, in floor radiant heat, gas fireplace & a very generous white on white kitchen with eating area & access to a large covered balcony. A very well maintained building with new shake roof underway, super-generous 1100 sq feet of living space, plus a 12' x 10' covered balcony for any-weather entertaining - what a package! Call NOW to view!
Read full post

Please visit our Open House at 306 1150 LYNN VALLEY RD in North Vancouver.
OPEN HOUSE: Saturday July 21, 2-4 pm
Here is a south east facing suite in a garden community of lovely homes in one of Lynn Valley's most desirable locations! Welcome to the "Laurels" ! A well cared for complex in a beautiful setting, and steps to the amenities of central Lynn Valley. This exceptionally well kept, TOP FLOOR 1 bed plus den is larger than most 2 bedroom homes, has 2 full baths, and shows to perfection. Quality finishing thru-out ! Heritage style interior doors, soaker tub, mirrored closet doors, marble tile entry. Extra features include large in suite laundry room, in floor radiant heat, gas fireplace & a very generous white on white kitchen with eating area & access to a large covered balcony. A very well maintained building with new shake roof underway, super-generous 1100 sq feet of living space, plus a 12' x 10' covered balcony for any-weather entertaining - what a package! Call NOW to view!
Read full post

This Friday, July 20th come down to Lynn Valley Village to see a great performance by Gary Comeau and the Voodoo Allstars! 

 

Playing a wide range of instruments - from fiddle to piano, Gary Comeau is sure to make you feel like you've been transported to New Orleans in the middle of Mardi Gras!

 

 

Click Here for pictures of Live in Lynn Valley 2012!  

Read full post

Smith and Jones put on an amazing live show and there was a great turnout of young and old! The weather was perfect, the patio at Brown's Social House was packed, and the BOTTO team was thrilled to be a part of it! 

 

 

For more pictures of this event, CLICK HERE. 

Read full post

Please visit our Open House at 102 1145 29TH ST E in North Vancouver.
Open House on Saturday, July 14, 2012 2:00 pm - 4:00 pm
An effortless move from a larger home can be yours ! Welcome to Lynn Valley's prestigious EVERGREENS, an award-wiinning complex of just 11 homes. Enjoy a very generous 2 bedroom, 1100 sq ft floor plan - it is immaculate and features a large white on white kitchen, 2 gorgeous new baths, living room with gas fireplace, exceptionally large master and its own private patio entry. No need to use the common entrance. There are lots of windows, new in-suite laundry, secure parking, extra storage and pets are welcome. This is a very well cared for, intimate complex - and a beautifully renovated suite. Just steps to all of Lynn Valley's amenities, including Lynn Valley Village, Lynn Valley Centre, & Browns Social House ! A tremendous opportunity and great value - the last sale in the building was well over $500,000 !
Read full post

We have listed a new property at 15 2688 MOUNTAIN HWY in North Vancouver.
This beautifully appointed home in award winning Craftsman Estates shows to perfection! Elegantly decorated in earthy tones, this popular "Lions" Plan offers hardwood floors on the main, 9'ceilings, extensive mouldings, gas fireplace w/ custom solid maple mantle, open plan living & dining rooms. Kitchen in soft neutrals with maple shaker cabinets & a cozy family / TV room overlook an East facing patio & fully fenced yard; THE LARGEST in the complex! Three bedrooms & 2 ? baths complete this home on the next two levels up. Master has full ensuite, the top level has been modified & features a large 3rd bedroom (A very practical adjustment to the Lions plan, modified by the developer in 2003). Utility /mud room down offers access to 2 secure parking stalls + an enormous storage locker, which is unique to only 4 units in this phase. This home has it all! An attractive complex designed by Architect Graham Crokart & quality built by Brody Construction. Well cared for & just steps to Lynn Valley Village!
Read full post

Please visit our Open House at 15 2688 MOUNTAIN HWY in North Vancouver.
Open House on Saturday, July 14, 2012 2:00 pm - 4:00 pm
This beautifully appointed home in award winning Craftsman Estates shows to perfection! Elegantly decorated in earthy tones, this popular "Lions" Plan offers hardwood floors on the main, 9'ceilings, extensive mouldings, gas fireplace w/ custom solid maple mantle, open plan living & dining rooms. Kitchen in soft neutrals with maple shaker cabinets & a cozy family / TV room overlook an East facing patio & fully fenced yard; THE LARGEST in the complex! Three bedrooms & 2 ? baths complete this home on the next two levels up. Master has full ensuite, the top level has been modified & features a large 3rd bedroom (A very practical adjustment to the Lions plan, modified by the developer in 2003). Utility /mud room down offers access to 2 secure parking stalls + an enormous storage locker, which is unique to only 4 units in this phase. This home has it all! An attractive complex designed by Architect Graham Crokart & quality built by Brody Construction. Well cared for & just steps to Lynn Valley Village!
Read full post

 

 LIVE IN LYNN VALLEY VILLAGE


Presented by

 

 

 

Another year of Live in Lynn Valley Village has finished and it was a GREAT year! We're so proud to be part of an event like this and to see this community come together every Friday evening. Thanks to our cosponsors at Delany's Coffee and Vancity, as well as all the nightly sponsors from this year. If you missed any of the performances, or want to see pictures and video highlights, follow the link below! 


See you next year! 

 

 

To View Photos of Live in Lynn Valley

Village 2012 - click here!!

 

 

 

 

                                    

 


 


Dont know where Lynn Valley Village is? 

 

                             

 

 

Take Exit 19 (Lynn Valley Road) off Highway 1, and follow Lynn Valley Road straight to the village! 


 




Lynn Valley Village



Lynn Valley Village Merchants 

 

 


Photos from Live in Lynn Valley 2011








Photos from Live in Lynn Valley 2010

 

 
 
Read full post

We have listed a new property at 102 1145 29TH ST E in North Vancouver.
An effortless move from a larger home can be yours ! Welcome to Lynn Valley's prestigious EVERGREENS, an award-wiinning complex of just 11 homes. Enjoy a very generous 2 bedroom, 1100 sq ft floor plan - it is immaculate and features a large white on white kitchen, 2 gorgeous new baths, living room with gas fireplace, exceptionally large master and its own private patio entry. No need to use the common entrance. There are lots of windows, new in-suite laundry, secure parking, extra storage and pets are welcome. This is a very well cared for, intimate complex - and a beautifully renovated suite. Just steps to all of Lynn Valley's amenities, including Lynn Valley Village, Lynn Valley Centre, & Browns Social House ! A tremendous opportunity and great value - the last sale in the building was well over $500,000 !
Read full post

Please visit our Open House at 4660 RAMSAY RD in North Vancouver.
Open House on Sunday, July 8, 2012 2:00 pm - 4:00 pm
A beautiful combination of luxury and location in Upper Lynn Valley. Over 4600 sqft of perfection on 3 levels with 4 generous bedrooms up, master with full ensuite, sitting area and fireplace, plus one bedroom furnished suite down withits own entrance. The highlight of this home is a gorgeous kitchen/family room combination with vaulted ceilings, custom fireplace, and exceptional use of wood, granite & stainless steel. A to-die-for 9300 sqft level fenced lot has been lovingly landscaped, has custom built deck and fish pond. Add a double garage that will accommodate your boat -- and terrific neighbors -- and you have an exceptional opportunity for your family! A stunning home in immaculate condition, in coveted Upper Lynn !
Read full post

Please visit our Open House at 102 1145 29TH ST E in North Vancouver.
OPEN HOUSE: Sat & Sun 2-4
An effortless move from a larger home can be yours ! Welcome to Lynn Valley's prestigious EVERGREENS, an award-wiinning complex of just 11 homes. Enjoy a very generous 2 bedroom, 1100 sq ft floor plan - it is immaculate and features a large white on white kitchen, 2 gorgeous new baths, living room with gas fireplace, exceptionally large master and its own private patio entry. No need to use the common entrance. There are lots of windows, new in-suite laundry, secure parking, extra storage and pets are welcome. This is a very well cared for, intimate complex - and a beautifully renovated suite. Just steps to all of Lynn Valley's amenities, including Lynn Valley Village, Lynn Valley Centre, & Browns Social House ! A tremendous opportunity and great value - the last sale in the building was well over $500,000 !
Read full post

By David Larock

 

Last week federal finance minister Jim Flaherty surprised real estate market stakeholders by announcing a fourth round of changes to the rules that are used to qualify borrowers who have less than 20 per cent equity in their property (commonly referred to as high-ratio borrowers).

You would have thought that Mr. Flaherty was announcing the arrival of the Four Horsemen of the Apocalypse when reading the reactions of most mortgage industry insiders, which I find surprising given that the first three rounds of rule changes did not broadside our real estate markets, as had been predicted each time, and have in fact proven quite prescient in hindsight.

 

Let’s quickly review how we got to this point:

Ultra-low mortgage rates have been the primary drivers of house-price appreciation across most Canadian real estate markets over the last several years. At first this cause-and-effect helped our economy when it was otherwise vulnerable, by stimulating demand in a wide range of housing-related industries. But while emergency-level borrowing rates can provide an effective short-term economic boost, if rates are left too low for too long they can also fuel asset bubbles (history provides many precedents on this point – and those who do not learn from history are doomed to repeat it).

 

Our political leaders and regulators have been grappling with a very difficult question for some time now: How do we keep our interest rates at the stimulative levels that our broader economy still desperately needs while guarding against credit and housing bubbles? Each time the answer has been the same: Tighten mortgage lending rules, give the market time to adjust and then tighten again if needed.

Over the past few months our leaders have (at long last) come around to the view that our interest rates are going to stay low for the foreseeable future and that if rising rates aren’t going to slow the market naturally (as was previously hoped), more tightening is needed.

 

Here are the changes that were just announced and that will take effect on July 9 (with my comments following each bullet point):

* The maximum amortization on a high-ratio mortgage will be reduced from 30 years to 25 years.

Mathematically, this change has the same impact on mortgage affordability as a .95 per cent rise in interest rates. That said, while 40 per cent of high-ratio borrowers opted for a 30-year amortization over the last year, the vast majority of these borrowers could have qualified using a 25-year amortization anyway, so this change should only affect marginal borrowers who would have been the most vulnerable to rate rises in future. (If Mr. Flaherty had asked me, I would have suggested lowering the maximum amortization on the rate used to qualify borrowers instead. This tweak would have allowed high-ratio borrowers to set their minimum mortgage payment using a 30-year amortization as long as they could qualify using a 25-year amortization…but I digress.)

There is also an inherent benefit in making this change at this time, which industry observers have not acknowledged. Looking ahead, when mortgage rates eventually do rise, the maximum amortization threshold can be increased back to 30 years to help cushion the impact of higher borrowing costs. This gives the federal government the option of using an incremental payment shock absorber at some critical future point.

* Mortgage refinancings will now be limited to a maximum of 80 per cent of the value of a property (down from 85 per cent).Rapidly rising house prices create a wealth effect that allows homeowners to live beyond their means. While only a minority succumb to this temptation, at the margin these home owners form a large enough group to threaten the stability of our real estate markets and, left unchecked, even our overall financial system.

These borrowers typically rack up high-interest unsecured debt and when it becomes unmanageable, they roll it into their mortgage at today’s record-low rates. They wash, rinse and repeat until house prices stop rising and then when they can no longer access new money this way…boom goes the dynamite.

 

The decision to stop offering high-ratio mortgage insurance on refinance transactions is an attempt to reign in the conversion of credit-card debt into mortgage debt. This practice was commonplace during the U.S. housing bubble run-up and exponentially increased the long-term damage done to the U.S. economy when real estate prices corrected. Home equity extraction has been steadily rising in Canada over the last decade and the federal government is wise to take steps to limit the potential damage it can cause.

 

The overwhelming majority of my mortgage industry colleagues feel that credit-card debt, not mortgage debt, is the real problem that the federal government must address. This view is either naïve, blindly self-interested or both. Our industry has been abetting the growth of credit-card debt by converting it to mortgage debt.

High-ratio mortgages are subject to greater regulation because the risk on these instruments is taken by the federal government and ultimately, by Canadian taxpayers. The risk on credit-card debt, on the other hand, is taken by individual credit-granting institutions. That means that if over-consuming borrowers default on their credit-card debt the negative impact is essentially limited to the borrower and the lender, while a material increase in mortgage defaults can send shock waves throughout the economy (see the current U.S. example, where it is mortgage defaults, not credit-card write-offs, that have created Depression-like conditions).

Put another way, if you ask any regulator whether they would rather have credit-card defaults or mortgage defaults, you won’t have to wait long for the answer.

 

* High-ratio mortgage insurance will no longer be offered on properties valued at over $1 million.

History has shown that high-value properties are subject to greater price fluctuations when real estate markets soften and as such, highly leveraged high-end properties come with an inherently higher level of risk. Requiring a minimum down payment of 20 per cent is a way to help mitigate this increased marginal risk.

From a mortgage-industry perspective, this change gives balance-sheet lenders (large banks) an increased competitive advantage over lenders who need mortgage default insurance to securitize their loans. That means that high-end borrowers (and the mortgage planners who work with them) will now have fewer lenders to choose from. In spite of this, it is still seems to be the right thing to do in an environment where many inter-related risks appear elevated.

* The maximum gross debt service ratio will be limited to 39 per cent and the maximum total debt service ratios will remain at 44 per cent.

 

Until now, high-ratio borrowers with excellent credit scores could have their gross debt service ratios waived altogether. This has meant that their mortgage and other basic property costs could total 44 per cent of their gross income if they had no other debt. Now their mortgage and other basic property costs will be capped at 39 per cent, regardless of whether they have any other debt, and that slightly reduces the maximum mortgage amount for the relatively small sub-group of borrowers who have no other debt.

 

The two most common questions being asked regarding the coming changes are:

 

* How will this affect my existing mortgage at renewal?

Answer: Not at all. As long as you don’t need to borrow more money, your existing mortgage terms will remain in place, even if you switch lenders at renewal.

 

* How does this affect my existing pre-approval?

Answer: Pre-approvals that do not become live deals before July 9 will be subject to the new rules beyond that date; if, on the other hand, you have an accepted offer to purchase and you convert your pre-approval to a live deal before July 9, your high-ratio mortgage will not be subject to the most recent changes.

If you have other questions, you can check out this question and answer page on the Department of Finance website, or email me for more details.

 

Five-year Government of Canada bond yields rose 12 basis points last week, closing at 1.31 per cent on Friday. Despite this rise, lenders are still enjoying healthy gross spreads on five-year fixed-rate mortgages in the 3.09 per cent range. We also saw the launch of some new promotions on shorter-term fixed rates and this wider-than-normal variance at the short end of the interest-rate curve means that borrowers who shop around will be well rewarded for their effort.

 

Five-year variable rates are still being offered at only a shade below fixed rates (2.80 per cent vs. 3.09 per cent) and as such, I don’t think they offer borrowers enough of a margin of safety to justify their inherent risk.

The bottom line: There is an understandable fear that over-tightening mortgage rules will engineer the very house-price correction we seek to avoid but under tightening could eventually prove even more disastrous (and no one has more to lose than people who depend on a healthy real estate market to make their living).

The first three rounds of changes were initially unpopular but all have thus far proven to be prudent with the passage of time. While I am instinctively skeptical of government intervention in the market, Flaherty has so far consistently earned my respect where changing mortgage regulations are concerned. If this short-term pain helps to preserve our long-term gains, then I’m all for it.

 

David Larock MBA, AMP, PFPC, CSC is a Toronto-based independent mortgage planner and long-time industry insider who specializes in helping clients purchase, refinance or renew their mortgages. He is an active blogger on mortgage related topics and his posts have been distributed in national media and by Realtors and financial planners. www.integratedmortgageplanners.com.

Read full post
Categories:   #IMHOME CONTEST | Ambleside, West Vancouver Real Estate | Annual Pumpkin Patch | Blueridge NV, North Vancouver Real Estate | Boulevard Real Estate | Boulevard, North Vancouver Real Estate | building | canuck place adventure challenge | Capilano Highlands, North Vancouver Real Estate | Capilano NV, North Vancouver Real Estate | Central Coquitlam, Coquitlam Real Estate | Central Lonsdale, North Vancouver | Central Lonsdale, North Vancouver Real Estate | Coal Harbour, Vancouver West Real Estate | Common Property | conquer cancer lynn valley, ride to conquer cancer | Deep Cove, North Vancouver Real Estate | Dollarton, North Vancouver Real Estate | Downtown VW, Vancouver West Real Estate | Dundarave, West Vancouver Real Estate | False Creek North, Vancouver West Real Estate | Forest Hills NV, North Vancouver Real Estate | Grouse Woods, North Vancouver Real Estate | habitable area | Hamilton, North Vancouver Real Estate | Heritage Woods PM, Port Moody Real Estate | Indian River, North Vancouver Real Estate | interest rates | Lions Bay, West Vancouver Real Estate | live in lynn valley | Lower Lonsdale, North Vancouver Real Estate | Lynn Valley, North Vancouver Real Estate | Lynnmour, North Vancouver Real Estate | Maintenance Fees | Municipality | North Vancouver Real Estate | Northlands, North Vancouver Real Estate | Oil Tank Removal | permits | Princess Park, North Vancouver Real Estate | pumpkin patch 2012 | Queensbury, North Vancouver Real Estate | Real Estate | Renfrew VE, Vancouver East Real Estate | Roche Point, North Vancouver Real Estate | Strata | Strata Lot | Strata Property Act | Tempe, North Vancouver Real Estate | Unit Entitlement | Upper Lonsdale, North Vancouver Real Estate | VNVED, North Vancouver Real Estate | Westlynn Terrace, North Vancouver Real Estate | Westlynn, North Vancouver | Westlynn, North Vancouver Real Estate
Blogs
Posts By Date
Categories