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Please visit our Open House at 5549 RUTHERFORD ROAD in NANAIMO.
Open House from Sunday, February 23, 2014 to Sunday, February 23, 2014 02:00 PM - 04:00 PM
Recently renovated family home within walking distance to elementary schools and Dover Bay High School, this home features all-new flooring, front and rear deck, R/V or boat parking, a large double-garage, updated countertops and bathroom fixtures, new appliances, new light fixtures, new paint, and much more. The large Master Bedroom includes a 4-piece ensuite and walk-in closet. Downstairs includes a bedroom, laundry room/ 2-piece bathroom, and a large rec room. Easy to add another bedroom and shower/tub to downstairs area - ideal for home theatre room. A great price for an updated family home in North Nanaimo. Make an appointment to view today!
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Please visit our Open House at 5545 RUTHERFORD ROAD in NANAIMO.
Open House from Sunday, February 23, 2014 to Sunday, February 23, 2014 02:00 PM - 04:00 PM
Totally renovated family home in North Nanaimo/Rutherford area. Includes a large/open living room/dining room with gas fireplace that opens onto a oversized front deck. Kitchen includes family-sized eating nook and new stainless steel appliances. Master Bedroom is king sized with generous walk-in closet and ensuite. Downstairs includes 3 bedrooms, laundry area, and extra bathroom, and a family room. Renovations include all-new paint, trim, bathrooms, light fixtures, all flooring, trim, kitchen cabinet doors and countetops, rear deck, driveway pavement, landscaping, and much more. Over half-acre lot. Double garage. RV/boat parking. Walking distance to all levels of schools and sea-front parks. A short drive to North Nanaimo shopping. A great value at this price point! Make an appointment to view today!
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The budget announcement quietly slipped in changes to government-backed mortgage insurance, including reductions to the amount of new guarantees CMHC will provide.

“The Government continues to adjust the housing finance framework to restrain the growth of taxpayer-backed mortgage insurance and securitization,” the budget report states. “These measures will support the stability of the housing sector and the financial system by increasing market discipline in mortgage lending. 

“They will also reduce taxpayer exposure to the housing sector without compromising the availability of reasonably priced mortgages.”

This should come as no surprise to a number of brokers, with Finance Minister Flaherty recently stating CMHC has evolved past its initial intention.

“Regrettably, CMHC became something rather more grand, I think, than it was intended to be,” Flaherty told reporters in December. “We’ll see over time what that role should be.”

Of course, the federal government has adjusted the rules for CMHC mortgage insurance four times in the past five years, including establishing a maximum amortization period of 25 years for mortgages with down payments less than 20 per cent.

However, Tuesday’s budget also announced a number of further changes to the Canadian Mortgage and Housing Corporation, which includes reducing the amount of new guarantees CMHC is authorized to provide.



•For 2014, Canada Mortgage and Housing Corporation (CMHC) will pay guarantee fees to the Receiver General to compensate the Government for mortgage insurance risks. This will align CMHC with guarantee fees paid by private mortgage insurers.

•For 2014, CMHC is reducing its annual issuance of portfolio insurance from $11 billion to $9 billion.

•The Minister of Finance has reduced the amount of new guarantees that CMHC is authorized to provide under its 2014 securitization programs to $80 billion for market National Housing Act Mortgage Backed Securities and to $40 billion for Canada Mortgage Bonds.

• A new legislative framework for covered bonds is now in effect. This framework has created a fully private source of funding using only uninsured mortgages as collateral. It has been recognized internationally for its high standards. Since July 2013, Canadian lenders have successfully issued more than $14 billion in covered bonds in three different currencies.

• The Government has consulted stakeholders and will bring forward measures to implement Economic Action Plan 2013 initiatives to tie portfolio insurance to the use of CMHC securitization vehicles and prohibit the use of government-backed insured mortgages as collateral in securitization vehicles that are not sponsored by CMHC. 
 

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Please visit our Open House at 659 BROWN DRIVE in LADYSMITH.
Open House from Sunday, February 9, 2014 to Sunday, February 9, 2014 12:00 PM - 02:00 PM Reasonably priced family home with HUGE yard, across from park.
Here's a perfect family home at a very reasonable price! Featuring a large living room, renovated bathrooms and kitchen, a family room with pellet stove, and attached workshop. A large south-facing deck overlooks the oversized yard and neighbouring park. The fully fenced 9148 sq ft yard includes numerous fruit trees and and a generous garden shed. Great area for young families with playground/park across the street from yard; walking distance to all levels of schools. RV /boat parking. Make an appointment to view today!
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Please visit our Open House at 921 COLONIA DRIVE in LADYSMITH.
Open House from Sunday, February 9, 2014 to Sunday, February 9, 2014 02:00 PM - 04:00 PM Perfect custom built family home, now reduced by $20k
Here is a very reasonably priced family home in the north end of Ladysmith. This custom built house has a comfortable floor plan with a super large open kitchen, bright family room with wood stove, open living room, dining area that could be re-purposed as a den, remarkable front entrance foyer, storage room/pantry off of laundry area, double garage, master bedroom with walk-in closet and feature ensuite (with jet tub). Room for boat or RV parking on the side of home. The private rear yard includes a detached workshop, active gardens, wood storage, and a massive deck. Located in a very quiet area. Walking distance to schools and parks. Only minutes to the Nanaimo Airport. Make an appointment to view today!
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Please visit our Open House at 3030 BARNES ROAD in NANAIMO.
Open House from Sunday, February 9, 2014 to Sunday, February 9, 2014 02:00 PM - 04:00 PM Great deal in Cedar by the Sea area. Ocean views. Older home with heat pump & updates.
Looking for a great budget-priced starter home with an ocean view? This comfortable 3 bedroom house is located in the semi-rural Cedar-By-The-Sea area of North Cedar. Only minutes away from schools, parks, the airport, the Duke Point ferry terminal, and South Nanaimo shopping. Walking distance (3 minutes) from ocean access. This home features a family-sized kitchen, oversized master bedroom with ensuite and private ocean-view den, comfy living room, wrap-around decks, and a heat pump. A lower unfinished area of the house is currently being used for storage but was previously set up as a workshop/ single car garage. Lots of fruit trees (apple, plum, pear) in the private rear fenced yard. Quiet area. Monthly mortgage would be cheaper than renting a similarly sized place - which makes this a great option for first time buyers. Home is partially renovated and needs some TLC. Make an appointment to view today!
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