Tuesday, August 31, 2010 I have sold a property at 2255 BADGER RD in North Vancouverby Garth P Raven (Prudential Sussex Realty) on Tue, Aug, 31, 2010 04:04 AM
I have sold a property at 2255 BADGER RD in North Vancouver.
A rare view offering on Badger Road in the picturesque village of Deep Cove, a place that few have had a chance to enjoy home... Thursday, July 15, 2010 I have sold a property at 794 Montroyal BLVD in North Vancouverby Garth P Raven (Prudential Sussex Realty) on Thu, Jul, 15, 2010 04:05 AM
I have sold a property at 794 Montroyal BLVD in North Vancouver.
Sitting high on the hill this home offers gleaming hardwood floors &
numerous updates. 3 bds up & 1 down. French... Wednesday, May 19, 2010 I have sold a property at 406 2515 ONTARIO ST in Vancouverby Garth P Raven (Prudential Sussex Realty) on Wed, May, 19, 2010 04:04 AM
I have sold a property at 406 2515 ONTARIO ST in Vancouver.
All of the key "Elements" are found in this South West corner, top floor, 2 bdrm 2 bath unit w/skylights & a flexible open plan.... Friday, November 6, 2009 I have sold a property at # 2 2118 EASTERN AV in North Vancouverby Garth P Raven (Prudential Sussex Realty) on Fri, Nov, 6, 2009 04:02 AM
I have sold a property at # 2 2118 EASTERN AV in North Vancouver.
No stairs and easy access from U/G parking. Wonderful, sunny patio, fenced & over 400 SQ.FT. Ideal location near shops,... Friday, November 6, 2009 I have sold a property at # 101 630 ROCHE POINT DR in North Vancouverby Garth P Raven (Prudential Sussex Realty) on Fri, Nov, 6, 2009 04:02 AM
I have sold a property at # 101 630 ROCHE POINT DR in North Vancouver.
ONE BEDROOM WITH DEN, SOLARIUM + OUTDOOR PATIO AT THE LEGEND. This ground level E facing condo is cozy & spacious.... Wednesday, November 4, 2009 I have sold a property at # 103 2181 W 10TH AV in Vancouverby Garth P Raven (Prudential Sussex Realty) on Wed, Nov, 4, 2009 04:02 AM
I have sold a property at # 103 2181 W 10TH AV in Vancouver.
This charming ground floor one bedroom and den suite shines like new with a fabulous open floor plan and ideal Kits location.... Tuesday, June 30, 2009 I have sold a property at 377 VENTURA CR in North_Vancouverby Garth P Raven (Prudential Sussex Realty) on Tue, Jun, 30, 2009 04:10 AM
I have sold a property at 377 VENTURA CR in North_Vancouver.
TERRIFIC VALUE FOR UNDER A MILLION! Very motivated seller has this listed well under assessed value. Post & beam home w/ expansive,... Tuesday, June 2, 2009 I have sold a property at # 603 1500 OSTLER CT in North_Vancouverby Garth P Raven (Prudential Sussex Realty) on Tue, Jun, 2, 2009 04:09 AM
I have sold a property at # 603 1500 OSTLER CT in North_Vancouver.
Enjoy forested views and the West Coast lifestyle from your 600 Sq Ft sun deck. The higher end fit and finish of the Mountain... Saturday, May 16, 2009 I have sold a property at 4662 CAPILANO RD in North_Vancouverby Garth P Raven (Prudential Sussex Realty) on Sat, May, 16, 2009 04:56 AM
I have sold a property at 4662 CAPILANO RD in North_Vancouver.
Craftsman style townhome,set well back from Cap. road. Hardy plank & shingle exterior w/ quality finishings inside such as... Friday, April 10, 2009 I have sold a property at # 3 257 E 6TH ST in North_Vancouverby Garth P Raven (Prudential Sussex Realty) on Fri, Apr, 10, 2009 05:00 AM
I have sold a property at # 3 257 E 6TH ST in North_Vancouver.
Spectacular 360 degree harbour, city and mountain views can be enjoyed from your private roof top deck and the S. facing bdrms.... Wednesday, March 18, 2009 I have sold a property at # 14 1923 PURCELL WY in North_Vancouverby Garth P Raven (Prudential Sussex Realty) on Wed, Mar, 18, 2009 05:11 AM
I have sold a property at # 14 1923 PURCELL WY in North_Vancouver.
It's a delight to show this spacious & recently renovated 2 bdrm plus den/office. Features include new kitchen cabinets,... Tuesday, November 18, 2008 I have sold a property at LT4 FENWICK RD in No_City_Valueby Garth P Raven (Prudential Sussex Realty) on Tue, Nov, 18, 2008 05:06 AM
I have sold a property at LT4 FENWICK RD in No_City_Value.
Build your dream home on this 3/4 acre ocean view lot in the heart of Cowichan Bay. This prime lot is front & centre overlooking... Tuesday, November 18, 2008 I have sold a property at 804, 151, West 2nd Street in North Vancouverby Garth P Raven (Prudential Sussex Realty) on Tue, Nov, 18, 2008 05:06 AM
I have sold a property at 804, 151, West 2nd Street in North Vancouver.
Fabulous One Bedroom and Den in the Sky Tower. Featuring Insuite Laundry, Floor
to Ceiling Windows, Built in Microwave,... Tuesday, November 18, 2008 I have sold a property at 14 1923 Purcell Way in North Vancouverby Garth P Raven (Prudential Sussex Realty) on Tue, Nov, 18, 2008 05:06 AM
I have sold a property at 14 1923 Purcell Way in North Vancouver.
It's a delight to show this spacious & renovated 2 bdrm plus storage/den.
Includes new kitchen cabinets & granite... Tuesday, November 18, 2008 I have sold a property at 1986 Estevan Road in Nanaimoby Garth P Raven (Prudential Sussex Realty) on Tue, Nov, 18, 2008 05:06 AM
I have sold a property at 1986 Estevan Road in Nanaimo.
This cozy character home has a fenced backyard & circular driveway. W/2
bdrms, 1 bath, famrm, lge sunroom up. Original redone... Tuesday, November 18, 2008 I have sold a property at 303, 2288 West 12th Ave in Vancouverby Garth P Raven (Prudential Sussex Realty) on Tue, Nov, 18, 2008 05:06 AM
I have sold a property at 303, 2288 West 12th Ave in Vancouver.
CONNAUGHT POINT. Very private Southwest corner 2-bedroom suite with large
balcony overlooking the quiet residential neighbourhood... Tuesday, November 18, 2008 I have sold a property at # 512 345 LONSDALE AV in North_Vancouverby Garth P Raven (Prudential Sussex Realty) on Tue, Nov, 18, 2008 05:06 AM
I have sold a property at # 512 345 LONSDALE AV in North_Vancouver.
Welcome to "The Met" [Metropolitan], a building well known for its quality of construction. This super clean, well maintained... Tuesday, November 18, 2008 I have sold a property at # 403 1477 FOUNTAIN WY in Vancouverby Garth P Raven (Prudential Sussex Realty) on Tue, Nov, 18, 2008 05:06 AM
I have sold a property at # 403 1477 FOUNTAIN WY in Vancouver.
This City of Vancouver leasehold unit is priced to move! A sunny open floor plan 2 bdrm home across the path from Granville... Tuesday, November 18, 2008 I have sold a property at Blueridge NV, North Vancouverby Garth P Raven (Prudential Sussex Realty) on Tue, Nov, 18, 2008 05:06 AM
I have sold a property at Blueridge NV, North Vancouver.
This one is a '10'. Great family home just wating for you! Features include 3
bedrooms up, gleaming solid oak hardwood floors in... Tuesday, November 18, 2008 I have sold a property at 1101, 1500 Howe Street in Vancouverby Garth P Raven (Prudential Sussex Realty) on Tue, Nov, 18, 2008 05:06 AM
I have sold a property at 1101, 1500 Howe Street in Vancouver.
WATERSIDE LOCATION, SPACIOUS, AFFORDABLE 1 BDRM IN RELIABLE BLDG, THE DISCOVERY.
NEW LAMINATE PLANK FLOORING & NEUTRAL... Categories: Blueridge NV, North Vancouver | Canyon Heights NV, North Vancouver | Canyon Heights NV, North Vancouver Real Estate | Central Lonsdale, North Vancouver | Deep Cove, North Vancouver Real Estate | False Creek North, Vancouver West | False Creek, Vancouver West | Grandview VE, Vancouver East | Indian River, North Vancouver | Islands-Van. and Gulf | Kitsilano, Vancouver West | Lower Lonsdale, North Vancouver | Lynnmour, North Vancouver | Mount Pleasant VW, Vancouver West Real Estate | Out of Town, Out of Town | Upper Delbrook, North Vancouver
Who's Doing High Fives Now? SEPTEMBER/OCTOBER, 2007
If you think lenders make too much money, you are not alone........ However, it's very likely that you, the borrower, are an eager participant in all those profits. Billions of dollars are literally given away to the banks each year because of consumer pathy. Lenders know this and in fact they "bank" on it. What do we mean?
Well, a recent survey conducted by Canada Mortgage and Housing Corporation reveals that despite all the new mortgage products on the market, people looking to renew their mortgage will more often than not, revert back to their current lender. In fact, according to the report, 81% of them did. Does this make sense when the competition could be offering lower interest rates and better terms? It doesn't. There is some good news though. This same survey indicates that consumers are shopping around slightly more than they were in the past. People that were renewing their mortgage were faithful to their financial institution to the tune of 88% in 2000. By 2006 this dropped 7 percentage points. This decline in lender loyalty was also very evident in repeat home buyers and people that refinanced their mortgage because of wanting extra cash to make home enovations or consolidate debt. In 2006 only 65% of these consumers went back to their current provider – well down from what it was in previous years. The only category that remained relatively stable was first-time home buyers.
57% of these buyers financed through their banking institution in 2000 and this remained almost constant - 58% in 2006. It would appear that first-time buyers are savvy and cautious when it comes to mortgage debt. Initially, they do their
research diligently when it comes to comparing lenders and what they can offer. However, these very same buyers that were so careful at the start, oon join the ranks of those that are "too busy" at mortgage renewal time to check out and compare lenders. Most people know that banking is a business. However, not all acknowledge that bank
employees are paid to look after the bank's best interests – not yours. In fact these employees have quotas to fill – big quotas! It is amazing that people will go to seminars sponsored by Lenders and expect to be told how to negotiate the best mortgage deal for themselves. Puh-leeze! That's like inviting a fox to the chicken coop to tell the chickens how to avoid getting eaten by him. It makes no sense whatsoever, yet that is exactly what people do. Even more remarkable is the fact that these potential customers believe they are getting sound and unbiased information and actually act on the
advice given by the fox. This can be a very costly mistake.
However, let us explore mortgage renewal in greater detail.
Mortgage funding is extremely competitive. Lenders spend an enormous amount of money just to get mortgage business in the first place and they certainly don't want to lose customers now or at any time in the future.
If homeowners would just take a few hours and shop around for several proposals from different lending institutions when their mortgage term is up, they might be pleasantly surprised about their findings. The chances are that they would quite possibly receive an offer from another Lender that is better in both interest rates and/or terms provided.
Lenders may even pay for all the set-up, transfer and legal fees when the mortgage business is transferred to them. Once a homeowner has different options in hand, the power to choose becomes theirs. They can accept this new favorable proposal or have their current lender match or better it. Odds are, your lender isn't going to be
willing to give up your business without a fight.
How much actual cash could be saved by keeping Lenders honest? Well, let's figure it out. A $300,000 mortgage calculated at 6% over a 25 year amortization period works out to monthly payments of $1,919.42. Conversely, at 5.5% and using the same criteria, the payments are $1,831.18. The difference is $88.24 per month. Now multiply that by 60 (five years of monthly payments) and you will see that by negotiating a better rate, rather than blindly accepting the first offer, you have saved $5,294.40. Really, with a little investigative effort, you could have put a stash of cash in your jeans or made a handsome contribution towards paying off your mortgage. Instead of the Lenders' CEO's counting profits and doing high fives around the boardroom table because of consumer apathy, you could be going on vacation. You may be trained to be loyal but hopefully, not tamed! Next time . . . shop around! |
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