Welcome to the blog section. In this blog I’ll be posting about what is happening around my neighbourhood (Yaletown & False Creek North), Vancouver luxury real estate, real estate and related issues. If you have any suggestions, please let me know, have fun.
HOME EQUITY CONVERSION MORTGAGE (HECM) A special type of mortgage developed and insured by the Federal Housing Administration (FHA) that enables older home owners to convert the equity they have in their homes into cash, using a variety of payment options to address their specific financial needs. Sometimes called a reverse mortgage.
The CRTC has made a decision this week that could change the way we use the Internet forever. They have approved Canadian Internet Service Providers to implement Usage-Based Billing (UBB), which puts an end to unlimited Internet plans. Now, you will be charged on what you use and what providers want you to “over use”.
What perfect timing especially when services like Netflix Canada have started to take off. In today’s world, video and streaming multimedia rule our lives.
Netflix Says ISPs that Charge Per GB are Ridiculous
Wired ISPs have large fixed costs of building and maintaining their last mile network of residential cable and fiber. The ISPs’ costs, however, to deliver a marginal gigabyte, which is about an hour of viewing, from one of our regional interchange points over their last mile wired network to the consumer is less than a penny, and falling, so there is no reason that pay-per-gigabyte is economically necessary. Moreover, at $1 per gigabyte over wired networks, it would be grossly overpriced.
NDP digital affairs critic Charlie Angus gets what’s at stake. “We’ve seen this all before with cellphones,” he said last week. “Allowing the Internet Service Providers to ding you every time you download is a rip-off. Canada is already falling behind other countries in terms of choice, accessibility and pricing for the Internet. We need clear rules that put consumers first.”
We need to stop this blatant cash grab. Fight back and join over 75,500 people that have already decided to say enough is enough.Visit StoptheMeter.ca and sign the petition. Our Internet future depends on it!
Do you agree with Usage-Based Billing for Internet in Canada?
It was just a matter of time, that after seeing the new billion dollar properties, this had to follow.
It is a super yacht with a price tag of $1.1 billion dollars, the ship will be called “Streets of Monaco”.
On top of the boat the architecture will feature replicas of several famous Monaco Landmarks.
The capacity will be able to host 16 guest, plus 70 crew members.
As for amenities, you guess, everything you can dream of, including a go cart race track, swimming pools, tennis courts, cinema and a beach.
There’s no guarantee that the ship will ever be built, at this time its on the concept stage, waiting for a big wallet to pay for it to be built. The designer in charge is Yacht Island Design.
GROWING-EQUITY MORTGAGE (GEM) A fixed-rate mortgage in which the monthly payments increase according to an agreed-upon schedule, with the extra funds applied to reduce the loan balance and loan term.
This Al Jazeera video offers a quick peek into the ultra-expensive London apartment development One Hyde Park where one-bedroom apartments start at $10M and the penthouses go for more than $200M.
The Penthouse at 1000 Beach Avenue was created in 2006 by Award Winning designer Omer Arbel. Never before has such a distinguished residence been offered within this area. Boasting 7500 sq ft on 2 levels with 35 ft ceilings and disappearing walls of glass that create a dramatic interplay between interior and exterior spaces as well as the 360 degree views of the city, ocean and mountains. A perfect compliment to the setting the captivating and dramatic design is an impeccable merged composition of the finest materials, open spaces and light. Many features include: full concierge, private elevator access, 5 full bedroom suites, separate Maids suite, private parking for 5 vehicles and fully integrated lighting, electronic and music.
A mortgage loan that is insured or guaranteed by federal government entity such as the Federal Housing Administration (FHA) or guaranteed by the U.S. Department of Veterans Affairs (VA), or the Rural Housing Service (RHS).
This coming Tuesday February 1st, the City of Vancouver Planning staff and Concord Pacific will be holding an open house for a proposed rezoning at 10 Terry Fox Way (Area 5b West).
The rezoning application proposes primarily residential development, with commercial and retail uses at-grade. The proposed floor area is 38 782 m² (417,443 sq. ft.) with approximately 543 dwelling units. The proposed development would consist of 2 towers sited on a 2storey podium. Proposed tower heights are 30 and 28 storeys, with maximum height of 91 m (300 ft.).
Join City of Vancouver staff and the applicant team for a walking tour and open house about this project. Tuesday, February 1, 2011 Open House: 5:00 – 8:30 p.m. Walking Tour: 6:00 p.m. (Rain or Shine) Presentation: 7:00 p.m. Alice Mackay Room, Library Square Conference Centre Vancouver Public Library -- 350 West Georgia Street
The applicant team and City staff will be available to answer your questions and receive your comments. For more information regarding this proposal, please visit the Rezoning Centre's website at: vancouver.ca/rezapps. If you do not have web access, please contactDwayne Drobot, Planner at 604.871.6738. Written comments may also be sent to City Hall, 453 West 12 Avenue, Vancouver, BC, V5Y 1V4, by fax to 604.873.7060, or by email to dwayne.drobot@vancouver.ca
You may remember that a back in October, there was an open house regarding the adjacent lots, were residential towers, 2 hotels and the new casino will be located. Here’s a video of what that area may look alike:
GOOD FAITH ESTIMATE (GFE) A form required by the Real Estate Settlement and Procedures Act (RESPA) that discloses and estimate of the amount or range of charges, for specific settlement services the borrower is likely to incur in connection with the mortgage transaction.
Thalia, will be the newest addition to the family of buildings, created by James Schow, such as Grace, Iliad, and Artemisa. Just like these previous buildings Thalia promises to be a great success in the market of luxury boutique buildings. Thalia will be created with the same attention to detail and the finest materials and craftmanship that characterizes James Schow’s buildings.
Located in trendy Yaletown, means that the new owners will have easy access to the restaurants and night clubs that the area has to offers. The closest park to the building is Yaletown Park (1 block), the second closest park is Hamilton park (2 blocks). If you have a dog and want to take him to a doggie friendly park, you will be able to take it to Coopers Park (3 blocks). For grocery shopping you can either go to Urban Fare (3 blocks) or Costco (5 blocks).
Regarding transportation, the building will provide a Rolls Royce that will be shared with the other buildings of the same developer, you’ll just have to book it (not sure if there will be an additional fee). You can also take the Sky Train at Yaletown Station (3 blocks) or the bus just outside the building. If you have a boat, you can park it at Quayside Marina (3 blocks), you can either rent a slip or buy one.
Thalia, will be the second building in Vancouver to provide an automatic parkade system, the first building will be Jameson House. This system works in the following way, when you want to park your car you will just leave the car in a giant elevator and the system automatically will park the car underground in an empty slot. To retrieve the car you just go to the garage area, swipe your fob key and the system will bring it to you.
Sales will start soon and the starting price will be around $1,100,000
Building Features
2 Bedroom + Study & 3 Bedroom + Study
28 Suites in total
12 foot ceilings
Floor-to-ceiling windows
1,275 - 3,200 sq.ft. plans
James Schouw Development
Private outdoor living spaces
A Rolls Royce Phantom Sedan is part of the transportation program
Technology
Bio-metric system with fingerprint identification
Extensive cameras
Automated parking system
Suites are pre-wired for in-residence security systems
Home automation system to control electronic devices
Interior Features
8 foot solid wood doors
Porcelain floors
12 foot ceilings
Floor-to-ceiling windows
Gaggenau oven, gas cooktop, dishwasher and refrigerator
This is not an offering for sale. E&OE. Developer reserves the right to make modifications to building design, specifications, features and floor plans without notification. All renderings and illustrations reflect the artist’s interpretation of the project only and may differ from the final product. Images courtesy of thaliavancovuer.com
Exquisite Mansion! This stunning residence is the builder and architects pride, a custom built home with superb quality, craftsmanship and excellent design details.
Luxurious living w/over 7,400 sq.ft. situated over 22,000 sq.ft. of beautiful landscaped garden lot.
Grand entry w/dramatic circular staircase, skylights & hand painted mural on the beautiful dome ceiling. Vast master suite completes with sitting area, cozy fireplace and luxurious ensuite.
Gourmet kitchen with absolute top of the line stainless steel appliances, entertainment size family room with access to glass covered patio, spacious media room, temperature controlled wine cellar for your collection and spa-like indoor pool and whirlpool.
GENERAL CONTRACTOR A person who oversees a home improvement or construction project and handless various aspects such as scheduling workers and ordering supplies.
COOPERS LOOKOUT & ESPRIT CITY CLUB Building Stats- Address: 33 Smithe St., False Creek North in Vancouver, B.C., Canada. V6B 0B5 Developer: Concord Pacific Levels: 35 Units: 221 Amenities (14,000 sqft): Pool, sauna, steam, hot tub, gym movie theatre, bowling, games room, meeting room, lunge, kitchen, yoga, massage room, kayaks. Coopers park, Quayside marina, shopping and Yaletown a few steps from the building.
Today we're here to talk about home equity lines of credit and the new CMHC changes announced earlier this week.
A home equity credit is a credit line, think of something similar to your credit card, but secured to your property. What this means is that you can borrow a very large sum of money because your property itself is worth hundreds and thousands of dollars. You could borrow this money at a very cheap rate similar to mortgage rates. Compared to your credit card, which might be 20% or even higher, this seems like a fantastic deal. Read more: http://www.suttonmember.com/blog
A new website billing itself the "Russian WikiLeaks" has posted photographs of a lavish Black Sea mansion believed to have been commissioned for Prime Minister Vladimir Putin.
RuLeaks.net says it has no proof the mansion, still under construction and being built for a reported $1 billion, is Putin's.
Although the website's authors are anonymous, it's believed to be backed by the Pirate Party of Russia, which advocates opposition to copyright laws.
The mansion was first brought to public attention in December by a former business partner of Putin associates, who published an open letter to President Dmitry Medvedev decrying corruption in Russia.
Pirate Party leader Pavel Rassudov, who denies connections to RuLeaks.ru, nevertheless told RFE/RL's Russian Service that the number of visitors to the site have spiked since it was launched a month ago.
"We have to confirm the mansion [is Putin's]," he said. "Then there has to be action, an appeal to the president asking whether there's corruption involved."
The home is traditional style, was bought by Muniz back in 2005 for $3.499 million, then he tried to sell in 2007 for $3.875 million. Let’s see if he has better luck this time.
FORECLOSURE The legal process by which a property that is mortgaged as a security for a loan may be sold and the proceeds of the sale applied to the mortgage debt. A foreclosure occurs when the loan becomes delinquent because payments have not been made or when the borrower is in default for a reason other than the failure to make timely mortgage payments.
Great location, North of 4th, steps to beach, Tennis & Yacht Clubs at Jericho Beach & 4th Avenue shops & restaurants. High ceiling, granite countertops,...
