Betty Anne Tarini, Realtor®

How will the new mortgage rules affect investors?

Betty Anne Tarini — Wed, 03 Mar 2010 18:34:00 GMT

First, Ottawa will require that all borrowers meet the standards for a five-year fixed-rate mortgage, even if they choose a variable mortgage with a lower rate or a shorter term.

Second, the rules lower the maximum Canadians can withdraw when refinancing their mortgages to 90 per cent of the value of their home, from 95 per cent.

Third, Ottawa will now require a minimum 20 per cent down payment to qualify for CMHC insurance for non-owner-occupied properties purchased as an investment.

Kelowna Real Estate Market improving

Betty Anne Tarini — Wed, 03 Mar 2010 02:05:00 GMT

February statistics for the Central Okanagan zone were released today. Sales Volume is up 94.09% over this month last year. Number of units sold is up 78.4 over this month last year. Sale price is up to 95.80% of List Price compared to this month last year when homes were selling for an average of 88% of List Price. Looming HST and concerns of interest rates increasing are coaxing home buyers to buy sooner rather than later.

Market Trends Report 2010: KELOWNA

Betty Anne Tarini — Wed, 03 Mar 2010 01:49:00 GMT

RE/MAX recently released their Market Trends Report for 2010. For Kelowna, they wrote: "Sales of existing homes more than doubled in Kelowna in January, demonstrating that demand has now returned to healthy, traditional levels. Two hundred and fift-two homes changed hands so far this year, up from 114 units in 2009. Prices remain off their peak, but have climbed considerably, with the city's average no hovering at $414,787--up 22 per cent from a year ago. The average price of a single-familyhomes has risen 17.5 per cent to $484,065. Upper-end home sales have been a factor propping up average price, with strong demand for luxury waterfront properties. ..All segments of the market are now active, with move-up buyers gaining an increasing presence. First-time buyers account for the bulk of activity. Consumer confidence is on the upswing." This is certainly encouraging news!

21-6400 Spencer Road in Country View Estates Sold!

Betty Anne Tarini — Sat, 27 Feb 2010 00:42:00 GMT

Ellison, Kelowna - The single story at 21-6400 Spencer Road has been sold. The Seller couldn't be happier. Hard work got the job done. A comprehensive and generous marketing strategy including internet, Newspaper and magazine publicity gave this home maximum exposure. Thinking of selling your home in the Ellison area? Betty Anne Tarini is your resident expert.

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2 Story For Sale on McKenzie Road, Kelowna

Betty Anne Tarini — Wed, 03 Feb 2010 20:26:00 GMT

Under the Okanagan Sun

• 2,630 sq. ft., 4 bath, 4 bdrm 2 story "Grade-level entry" - MLS® $569,000

Rutland North, Rutland - Under the Okanagan Sun, your Kelowna vantage point takes theform of this smartly renovated, spacious 3+1 bedroomed home onlarge lot, featuring sleek hardwood floors. Gorgeous Kelowna Views. Quality upgrades include high-end appliances, flooring and new deck. Look! A mortgage helper -- 1 bedroom suite or bachelor suite -- you pick! Parking galore, so boat and RV will fit.

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2 Story For Sale in North Kelowna

Betty Anne Tarini — Fri, 29 Jan 2010 05:10:00 GMT

Under the Okanagan Sun

• 2,630 sq. ft., 4 bath, 4 bdrm 2 story "Grade-level entry" - MLS® $569,000

Rutland North - Under the Okanagan Sun, your Kelowna vantage point takes theform of this smartly renovated, spacious 3+1 bedroomed home onlarge lot, featuring sleek hardwood floors. Gorgeous Kelowna Views. Quality upgrades include high-end appliances, flooring and new deck. Look! A mortgage helper -- 1 bedroom suite or bachelor suite -- you pick! Parking galore, so boat and RV will fit.

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Single Story For Sale in Country View Estates

Betty Anne Tarini — Fri, 29 Jan 2010 05:07:00 GMT

Beautiful mountain, valleyand city views

• 1,165 sq. ft., 2 bath, 2 bdrm single story "rancher w/ basement" - MLS® $323,500 - Pinnacle Vistas

Country View Estates, Ellison - Pinnacle vistas. Beautiful mountain, valley and city viewsfromthis comfortable, 2 bedroomed rancher with full walk-out basement (translation: potential!) in Country View Estates. Superb location, close to airport, golf-courses, lakes, and wineries, yet just 10 minutes to downtown Kelowna. Hot tub negotiable. Bare-land strata -- youown the land and the house. Low strata fees include cable TV. Quiet 19+ community in park-like setting. AC, UG sprinklers,

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Open House in Ellison on Saturday

Betty Anne Tarini — Fri, 11 Dec 2009 00:15:00 GMT

Country View Estates in Sunny Ellison, Kelowna - We invite everyone to visit our open house at 21-6400 Spencer Road on December 12 and 13 from 12:30 PM to 4:30 PM.

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Home for the Holidays?

Betty Anne Tarini — Tue, 08 Dec 2009 23:13:00 GMT

Come join us for the Open House Saturday/Sunday December 12th and 13th from 12:30 - 4:00 p.m. See the Country Views at Country View Estates! Address is 21-6400 Spencer Road, Kelowna, BC just off the north-east corner of the airport and up the hill from the Ellison Market. This house is well-appointed with underground sprinkler system, reverse osmosis water system, central air conditioning, a shed complete with snow blower, lawn mower, and tools, and a hot tub! Combine that with story-book views in a quiet, semi-rural community and you've got the dream package at $389,900. Take a sneak preview at http://countryview.bettyannetarini.com

2 Story For Sale in San Pedro Las Huertas

Betty Anne Tarini — Tue, 08 Dec 2009 05:08:00 GMT

Breathtaking views

• 287 sq. m., 3 bath, 2 bdrm 2 story "Colonial" - $325,000 USD - Exquisite Craftmanship

San Pedro Las Huertas , Antigua - Looking to retire in style? Opting out of the "economic melt-down"? Here is an oportunity to improve your quality of life in this exquisitely crafted Colonial home just 8 minutes from the heart of Antigua Guatemala. This 3,000 square foot home has features too numerous to mention and must be seen. A spa-like master suite opens onto an expanisive wrap-around Spanish terrace with a breathtaking view of the Panchoy Valley. The living room and dining room open out onto another terracotta patio through hand-crafted cedar French doors. His and hers studios are joined through a novel pocket door. Three gorgeous fireplaces heat the home during chilly January evenings. Water is heated by solar panels on the roof. This home is built to North American standards on a rebar re-inforced concrete slab and partial basement with laundry room. It is wired for interenet, and cable throughout the house. Loving attention has gone into Colonial detailing such as the antiqued wrought iron work, flagstone steps, aged terracota foors, adobe walls and cypress pillars for the terrace. Custom built kitchen cabinetry, closets and vanities. $325,000 US. Contact Brian Wilson at Century 21 Casa Nova for details. bfwilson2000@yahoo.com Home is owned by a realtor licensed in the province of Alberta, Calgary.

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Should I buy or continue renting?

Betty Anne Tarini — Tue, 08 Dec 2009 04:02:00 GMT

There isn’t a right answer when it comes to this question. While it is true that, historically, real estate has performed steadily as a hedge against inflation and a means to build equity, home ownership is not for everyone. Hot market “flippers” aside, a general rule of thumb is that buying a home makes sense only if you plan to live in it for a minimum of three years. Buying a home is a serious commitment of both time and money. The Canadian Mortgage and Housing Commission (CMHC) outlines the good, the bad and the ugly of home ownership on their website: It can provide financial security against rising house prices, the stability of having a place of your own, and the flexibility of being able to renovate and decorate to suit your own taste. On the other hand, there are the stresses of coming up with a down payment, making the mortgage payments and paying for unexpected maintenance and repairs.

Single Story For Sale in Ellison

Betty Anne Tarini — Wed, 18 Nov 2009 23:33:00 GMT

Views! Views! Views!

• 1,505 sq. ft., 2 bath, 4 bdrm single story "Rancer with basement" - MLS® $389,900 - Adjusted for market

Ellison, Kelowna - Come and see the view! This spacious yet affordable 4 bedroom rancher is surrounded by gorgeous valley and mountain views. It is located on a corner lot, across from a provincial reserve, so there will never be anyone to block the view. The strata is friendly and the fees are low. The common areas are pristine. Country View Estates is conveniently located about 15 minutes from the heart of Kelowna, close to the airport. There are golf courses, lakes, orchards and wineries minutes away. The house includes central air, reverse osmosis water system, herb garden, phantom screen doors, hot tub outside, jacuzzi tub inside, new fiberglassroof with ridge vents, underground irrigation, garden shed with lawnmower, snowblower and tools, gas fireplace, heatblinds, free RV parking in gated compound, water softener, mounted TV in kitchen. Furniture negotiable. If the grass looks daunting, it can be contracted out for $25 per cutting.

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3404 Centre A St NE in Highland Park is Sold!

Betty Anne Tarini — Sun, 01 Nov 2009 19:59:00 GMT

Highland Park, Calgary - The bungalow at 3404 Centre A St NE has been sold.

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6 Rules for Tropical Investing

Betty Anne Tarini — Wed, 28 Oct 2009 04:09:00 GMT

Saying "I own Real Estate In [pick your favorite tropical paradise]" sounds way cool! But watch out for the "grass is greener" syndrome. Without local and independent legal advise, you can get into BIG trouble.

Rule #1 - Go down at least TWICE. Never buy sight unseen. If they don't want you to come down, they are hiding something. Visit in high and low season. Visit without notice. Witness the "non-holiday truth". Do research on weather. Are you paying local pricing or foreigner pricing? Prices may look cheap compared to the North American market, but may in fact, be inflated for the area.

Rule #2 - Know the property laws of the country. Do your own homework. What restrictions are placed on foreigners regarding ownership, travel and length of stay? Is it a stable government or will the rules be changing constantly. Is it friendly toward foreigners? What are the laws regarding squatters' rights? What appropriation rights do the many levels of government have? What is the currency like? Is it strong, weak, or pegged to the US dollar?

Rule #3 - Have your own legal representation that understand local laws and rules. What type of financing/leverage can you get? Dig into the tax implications of buying the property both in the country you are buying and your own country. Is there a tax treaty between your country and the target country? How will profits be taxed? How long can you be out of your country?Regarding property taxes, are you paying at the local rates, or at a rate higher for foreigners?

Rule #4 - Make sure there is adequate property management available. How will the money be transferred to you in the event of a sale or if the property is rented? By wire transfer? How often? What amounts will be held back? Do you have to open a local bank account? What types of communications are forth-coming from the property manager? What happens if the money doesn't come?

Rule #5 - Make sure you can actually own property there! Can foreigners hold the title? What is the Title Dispute Resolution process? How accurate are the titles? Are indiginous rights issues possible? Is it actually real estate you are buying or a "piece" of a project?

Rule #6 - Have an exit strategy. How resellable will the property be? How accessible is it to local existing amenities? to water? to the Airport? This is what another buyer will want. What is the competition in the area?

In the end, consider: Is it real, or is it a dream? With proper attention to these details, you can make sound investment decisions or plan for your retirement with confidence.

Price Reduced on 2-2124 Pandosy Street in Kelowna South

Betty Anne Tarini — Sat, 24 Oct 2009 02:49:00 GMT

Kelowna South, Kelowna - Announcing a price reduction on 2-2124 Pandosy Street, a 970 sq. ft., 2 bath, 1 bdrm single story. Now MLS® $328,000 - Cool Condo @ Cadder House.

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