Clark Hitchcock : Administration

Will this be the GOOD News Decade?

Clark Hitchcock — Tue, 05 Jan 2010 22:56:00 GMT

Will this be the GOOD News Decade?

Will this be the good news decade? That is the question rumbling around in my head these past few days. As we head into another year it is more than just another year but a brand new decade all shiny and ready to go. Are you?

Looking back ten years we had Y2K and the fears attached. Good thing we owned Clark’s Restaurant and Catering at that time that way we could have plenty of rice and beans as well as lentil soups on the menu.

We had tech crashes, stock market crashes, oil prices skyrocketing, gold prices through the roof, wars, tsunami’s, increased terror attacks, flu pandemics, and the list goes on.

This decade I have decided will be a good news decade for me in fact I have found a web site that has only good news that is where I will get my daily dose from.

There is this web site where you are reading this which is a good news web site a place to find comfort.

As I plan for the year and the decade I am filled with hope and look forward to the future. There will be new discoveries, new ways of doing things, discoveries in medicine, and all sorts of things that we can be happy about.

So glad to be on the other side of the 00 and ready for the 10.

First Time buying continued

Clark Hitchcock — Mon, 26 Oct 2009 23:07:00 GMT

Last time we talked about some of the priorities which I am sure you can make a much larger list than I mentioned.

Today I want to talk about some information that the in house mortgage broker at our Re/Max office mentioned at the sales meeting last week. That is the closing costs which are due in every home, townhome, condo or mobile purchase. He says that the banks are asking where are the homebuyers getting thier closing costs from. Are they in a bank account alread, is it goin got be a gift from a relative, friend, or some other source and what is that source. The costs are the notary fees could be as high as $1200.00 it is good to check before hand to know what that is going to be. Thier job is to conduct a title search, (we already have that information as a subject in the offer I have written for you, but they also need it) they will draft the title deed and prepare the paperwork for the mortgage.

There may be appraisal fees which the bank may need could be 250-350 bucks. Sometimes a survey certificate is needed in liew of that then title insurance may be required. There is a cost to both of these anywhere from 400 to 2000 but you will only need one or the other not likely both.

A hoome inspection is a great idea and they cost in the neighbourhood of 450 bucks.

The adjustments are for things like the balance of property taxes for the year, if it is strata the strata fee for the balance of the month. Pehaps the balance of water and sewer costs that have been prepaid. Sometimes there will be a balance owing you in the taxes if it is before June 30 but then you will have all of the taxes to pay for the year.

If you are a first time buy here in BC there is no property transfer tax at this time October 26, 2009, If you are buying a home in two names and one of you have owned a home before then you will have to pay the property transfer tax at half of the amount. That is 1% on the first 200 thousand of purchase price and 2% on anything above that up to 425 thousand. So for example if you purchased a home for 300 thousand the full property transfer tax would be $4,000.00 you would have to pay half of that if one of you has owned a home before.

Going back to the mortgage company wants to know where the money is coming from they would like to see it in a bank account already or in some form of unencumbered situation. in other words not putting on a credit card to add more monthly debt.

Until next time have a great week.If you are looking for real estate give me a call.

Thanks for reading.

Chilliwack Gas Prices

Clark Hitchcock — Wed, 11 Feb 2009 23:51:00 GMT

Do you feel like I do? Kind of upset when a barrel of oil is under forty bucks and going down and the price at the pumps is going up. There is something wrong with this system and one wonders what exactly can we do about it. A revolt?

I just needed to rant a bit because I have to go and fill up the tank right away. Maybe I will only put in a few bucks for now.

The night mare

Clark Hitchcock — Mon, 02 Feb 2009 20:46:00 GMT

Last night I woke up with a start and realized it was a dream. OH was that good. I was dreaming that i was cooking in the restaurant. Now We sold that a few years ago and anyone that knows us knows that the kitchen is not where I belong. My wife Sue did such a great job in the kitchen that is why we had a successfull restaurant career here in Chilliwack. But me in the kitchen well that is another story. One day when we were also operating the Royal hotel cafe as well as Clark's restaurant we got a call that the cook did not show up at the cafe. So I had to go and cook for a few hours. The first order was for blueberry pancakes. Did you know that if you put to many blueberries in the pancake batter it is a real messy situation on the grill. Well this poor customer waited so long for these silly pancakes that I think he was considering having a mid morning nap. But in the end he did get them and I was not to be seen operating anything in the kitchen again. But I do make a mean omelette in the frying pan though.

Todays latest interest rates

Clark Hitchcock — Fri, 30 Jan 2009 23:45:00 GMT

I am just back in the office and checked my mail box and there were the latest interest rate sheets.

1 year closed is 3.5% 5 year closed as low as 4.39% Ten year closed is 6.55 We do not have the variable listed on this sheet but most of the time it is .8 above price and prime is at 3.% now. do you think that this will get things moving in real estate. Well from the way the phones are ringing around the office here it has gotten busier. Do you think this is the time for you to make a move? I think it is personally. Why don't you give me a call to discuss your needs in real estate. 604-798-0833. Thanks for dropping in today.

Time to buy??

Clark Hitchcock — Sat, 10 Jan 2009 00:54:00 GMT

Are you trying to decide if this is the time to buy or should you wait until prices come down some more. Well that is a good question. Right now you have several things coming together which makes it look like it may be time to buy. Interest rates are low for example we got the rates today and a 5 year closed mortgage is available for 4.79% and some rates are as low as 3.89% for a 1 year term. the variable rate is 4.10%. So historically these are some of the lowest rates you will find. Prices have gone down on homes some and there is a good selection to choose from. People are willing to negotiate much more than was possible a year ago or so.

If you are planing to buy a home that suits your needs whether it is for just you or for you and your family and you are planning on staying there for a while then this is the time to buy. Since home values over a 30 year term have annual increases of 6%. So start building your equity now.

Give me a call and I can show you just the perfect home that suits your needs.

New Years Eve 2008-2009

Clark Hitchcock — Wed, 31 Dec 2008 23:47:00 GMT

2008 is fast winding down now just 8 hours to go as I write here. Be carefull as you are out and about tonight, drive safely. Hope you have a great night if you are with friends or family enjoy the time.

We are all glad to have the last half of 2008 behind us and I for one am looking forward to 2009 with anticiapation of good things to come. I hope you have a great 2009 as well.

Would you comment on what You look forward to in 2009.

See you on the other side of 2008