A number of months back, we noticed that an increasing amount of traffic was accessing our website via mobile devices and browsers, so we decided to create a mobile version of our site.

We discovered that building a mobile website was easier said than done.

There are dozens of different mobile browsers including iPhone, Blackberry, Android and many others.

Additionally there are over 10,000 different cell phones with different screen sizes and differing capabilities.

In the end we tried to achieve a middle ground that hopefully looks great on most phones.

Reducing our huge content rich site down to just the basics was another challenge. Once again we looked at the site statistics  to see what our visitors looked at most.

In addition to our contact information and our about-us page,  it turns out that one of our top pages is our mortgage rates page.

We squeezed the information from the rates page into a miniaturized version and included a link to our mortgage calculator app so that our customers can do mortgage payment calculations on the fly.

So whether you are sitting at your computer, looking for your next home, or running around the city, we are easily accessible and only a phone call away.

To access us via your mobile … simply go to averbachmortgages.com (your phone should automatically detect our mobile site. You can also visit  the mobile site directly at m.averbachmortgages.com

Scores range from 300 to 950.  If you get a score of 750 or above you’ll qualify for the best loan rates and terms. If you get 620 or lower, you’ll pay higher rates IF you qualify. The absolute minimum credit score for insured mortgages is 620.

In determining a credit score, a number of factors in your bill-paying history are considered:

Payment history – approximately 35%

Do you pay your bills? Tardy or missed payments, collections, and especially bankruptcies all affect your payment history. If you have not paid bills in the past, but are paying on time now, this will be factored into the equation.

Credit utilization – approximately 30%

Credit utilization involves the amount of debt you currently have in comparison to the credit you have available. The higher your credit utilization, the lower your credit score will be. Keep your credit card balances at less than 30% of your credit limit.  For example, if you have a total limit of $20,000 on your credit cards, you need to keep the balances under $6000.

Credit history – approximately 15%

The longer your credit history the better.  Don’t close credit cards or bank accounts that you’ve had for a long time.

Credit History Inquiries – approximately 10%

Every time you apply for for credit, the inquiry is added to your credit report. Too many applications put up a warning flag to lenders.  For example, if you are shopping for a mortgage with a number of banks and finance companies each one will request your credit history.  *One of the benefits of working with a Mortgage Broker is the fact that we only ask for your credit history ONCE!

Only those inquiries made in the past year are part of the credit score calculation.

Mix of credit – approximately 10%

Though this isn’t a significant part of the equation, having a mix of different types of credit is a good thing.  For example credit cards, personal bank loans, and a car loan show a range of credit situations that include installment and revolving credit.

Make sure you have at least one credit card as soon as you are eligible, but don’t take out other loans just to improve your credit score!

If you are applying for a mortgage with us, we will request your Credit Score.  We can discuss the results with you and let you know if you need to improve your score and how to do it.

Call Justin at  604-736-1855

In this short video (2:47) Setticasi explains what took place in the Vancouver housing market over the past month.  If you are interested in finding out whether the market is going up, down or sideways Setticasi has all the charts and graphs you need to figure out what is happening.

For more news and statistics visit us at http://www.rebgv.org

For those of you new to home ownership and mortgages,  CMHC provides mortgage loan insurance that enables you to buy a home sooner with a minimum down payment of 5%.

The  CMHC  site has dozens of informative articles and videos aimed at helping you buy, maintain and renovate your home.

Here’s a synopsis of the information and where to find it:

Buying a Home

The information in this section includes a Five Step Home buying Primer as well as information on; Buying Your First Home, Choosing a Neighborhood, Buying Condos and information on Government of Canada Home Ownership Incentives.

CLICK HERE for information on buying a home.

Maintaining a Home

For most Canadians, their home is their most important investment. It’s where your family spends a lot of time, so keeping it healthy, well tended and safe is important. A regular schedule of seasonal maintenance and repairs can help you protect your investment by putting a stop to the most common and costly problems before they occur..

CLICK HERE for information on maintaining your home.

Renovating Your Home

Planning is the key to a successful renovation. To help you plan your renovation project, CMHC has information and easy-to-understand tips that can help you assess your requirements and learn the key questions before you get started.

CLICK HERE for information on how to successfully renovate your home.

Are you buying a home for the first time?  Do you need CMHC backing?  Let us guide you through the whole process … it’s easier when you know how!    Call me now (Justin Blacklock)  and we can get started right away!  604-736-1855

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October 2011 Market Update

2011 has been the tale of two real estate markets, as mainland Chinese buyers influence some areas and asset classes while ignoring others altogether. The biggest beneficiaries of the influx of Chinese immigrants have been Vancouver and Richmond, and to a lesser extent, Burnaby, White Rock, and West Vancouver. Many areas of these cities have seen their single family home prices increase 20+% over the past 12 months, with some areas approaching a 50% increase!

Historically, big price increases in single family homes in these areas have resulted in upward pressure in both the surrounding communities and alternative asset classes as people cash in by selling their Westside homes and downsize to a condo or house in the suburbs, the Interior, or the Island.

Interestingly, this has yet to happen.

Prices for multifamily homes – condos and townhouses – have remained relatively stable, while prices in the surrounding suburbs of Vancouver as well as on Vancouver Island and in the Interior have more closely tracked the price gains of the markets in the rest of Canada rather than the core cities of the Vancouver area.

So what will happen in the fall and winter?

No one really knows what the market will do, but traditionally, the fall and winter seasons have resulted in a slow-down in the market as families buckle down for the school year and weather patterns make buyer tours less pleasant. Because there are fewer buyers, many sellers decide to pull their properties off the market, which results in less supply to offset the drop in demand.

However, statistics consistently show that house prices tend to be lower in the winter than in the summer, which is why home price stats are seasonally adjusted. There are many reasons for this seasonal disparity, but simply put, people who sell in the winter are more likely to need to sell. And because there are fewer buyers, true negotiations between buyers and sellers are more likely to occur in place of auction-type multiple offer situations.

So what does this mean if you’re a buyer or seller? If you’re a buyer that has the flexibility to purchase during the winter months, your selection will be limited, but if you find what you like, you could very well get a good price for your home. If you’re a seller that needs to sell, the limited supply can work in your favour if you have a good realtor that can outline the unique features of your home.

October 2011 Market Update

If you would like to learn more, please feel free to contact us by phone or by clicking on one of the links below:

Simon Clayton 604-764-0711

Jason Low 604-790-5276

Sandra Ens 604-263-1911

Jenny Stephanson 604-675-6214

Jason Feinstadt 604-263-1911

MacDonald Realty 604-263-1911

The Real Estate Board of Greater Vancouver is saying:

Consistent increases in property listings and fewer home sales over the summer months has helped move the Greater Vancouver housing market into the upper end of a buyers’ market.

“There’s more competition amongst home sellers in today’s market, providing more options for prospective buyers,” Rosario Setticasi, REBGV president said. “Buyers now have more properties to choose from and more time to make decisions compared to the spring season.”

If you are a first time home buyer, it seems to be getting better and better.  Lower housing prices plus low mortgage rates.  You can shop around and spend the time to make a good buying decision, have home inspections and some bargaining power.

Give us a call and pre-qualify. Your mortgage broker will not only treat you better, but you will know exactly the price range you can afford.

604-736-1855

Check out the current mortgage rates here.