Ozzie Jurock's Archives
Question: Tuesday, November 18, 2008
I am wondering what home prices have done historically over the last 50 years. Do you have a chart or graph that shows the ups and downs. Homes 50 years ago where worth, what, $15,000 and values have gone up and down but must have shown a somewhat steady increase. I'm curious to see a chart. A picture is worth a thousand words.
Question: Tuesday, November 18, 2008
I am planning to buy real estate in Scottsdale, although I wish I had converted my funds into US dollars when it was a $1.10. Where is the best place to analyze different cities in the US and is there a listing service like mls.ca?
Question: Tuesday, November 18, 2008
I bought a pre-construction condo this spring. I have been keeping an eye on the condo sales in the neighbourhood of the condo I purchased. Based on recent sales and listings in the area it appears that my condo is not worth what I committed to for it. It is due to be complete this time next year. If it is worth less than the purchase price at time of completion what are my options? Can I forfeit my deposit and walk away? Will the developer come after me for the purchase price? My concern is that I won't be able to obtain financing if the unit is not worth the purchase price?
Question: Wednesday, November 05, 2008
I am a regular reader of your column in the Van Sun which I enjoy every Thursday. I hope you don't mind my sending you this email to enquire on our present Vancouver market.
(a) With recent worldwide developments over this weekend and the election results will it change your views that we have reached the end of our current cycle?
(b) What are the chances that our market could enter into another upward spurt after these recent developments over the past week?
Question: Wednesday, November 05, 2008
Here's my dilemma: I purchased (pre-sale) a small loft 3 yrs ago in Mount Pleasant, Vancouver. I have a 5-yr fixed mortgage at a rate of 4.3%. My mortgage renewal will become due in Dec/2010. In addition I have a line of credit which is being used at a rate of prime + 0.5%. I'm a little concerned of the timing of my mortgage renewal falling at the tail end (or maybe even smack in the middle) of an economic downfall, do you think it would be prudent to re-finance now instead of in late 2010?
Question: Wednesday, November 05, 2008
I am in a 5-year variable rate at prime - 3/4% of approx $400,000 now for 1 year. I heard Bob Hoy say on Moneytalks that interest rates would go 'through the roof'. Should I refinance and lock myself into a 5-year term?
Question: Wednesday, November 05, 2008
If re-financing now I would like to add a line of credit to my mortgage for use in a few years (to buy rental property), is this financially wise?
Question: Wednesday, November 05, 2008
Daily there are many ads on the radio to invest in various real estate offerings by various companies - some direct real estate, units or just mortgages some of the fixed return ones offering 12% to 18% returns. Where can one obtain independent info on these various companies as my Google searches have not come up with anything helpful? Are there things to look out for?
Question: Wednesday, November 05, 2008
We did purchased three units as investment properties from one developer in Port Moody in 2007. We have been told there should be a private, well-lit underground parking lot for residents only, with video surveillance and security gates and a 15,000 sq ft clubhouse. Now, we have been told the parking and clubhouse will be ready in early 2009, but the developer is asking to finalize the deal in next two weeks when they are going to get the occupancy permit. How does this work? We highly appreciate if you could give us your thoughts on that.
Question: Friday, October 24, 2008
My (listing) agent was informed by the buyer's agent that they have walked away from their $10,000 deposit and will not buy my house. But thinking we had a firm $650,000 sale - we bought another home worth $720,000 in the meantime. We didn't know the buyer could walk after removing all subject clauses. We now have to lose our $50,000 (also walking away) or are stuck with two houses. We cannot afford this as we are in our late seventies and do not have any income to serve a large mortgage.