SPRING SPECIAL

WE WILL PAY YOUR G.S.T. Our Spring Special is now in effect until April 30, 2010. Your sale price will now include G.S.T. There will be no added 5% to your sale price.

H.S.T. LOOMS

AS of July 1, 2010, H.S.T. will be coming into effect. Any unit sold after that date may be subject to H.S.T. (12% tax) and not just G.S.T. (5% tax) as it is now. In other words..... a $300,000 purchase may be subject to an H.S.T. of $36,000. What we are offering you is a NO TAX SALE until April 30, 2010. In other words a $300,000 will have no tax attached (except property purchase tax).

This is an exceptional offer. THE TIME TO BUY IS NOW !!!

March/April 2010

Spring has definitely arrived in Penticton. The daffodils and tulips have started to "spring" out. The grass is turning green and the trees are budding. It is a great time to visit the Okanagan. Golf ..... Tennis .... Hiking ....... You can do it all.

SALES ACTIVITY

Activity has certainly "picked-up" along with the warmer weather. Sales have been steady. The Vancouver Real Estate Market is now going at a record pace. We are beginning to feel the "ripple effect". 2010 looks like a good year.

AMENITY BUILDING

The Amenity Building is framed and the utility installations have begun. We are still on pace for a summer opening. Once the Amenity Building is completed, the value of each Verana home will most certainly increase.

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View of the Amenity Building from Wilson Ave.

NEW MORTGAGE RULES

Mortgage rules will change April 19, 2010 which are as follows:
1) All borrowers must meet the standards for a five-year fixed rate mortgage even if they choose a mortgage with a lower interest rate and shorter term

2) The maximum amount one can withdraw in refinancing their mortgage will be reduced to 90% from the current 95% of the value of one's home.

3) Non-owner occupied properties will require a minimum down payment of 20%.

If you are an investor, you still have until April 19, 2010 to buy with 5% down.

There are no changes to down payment requirements or length of amortizations for owner-occupied residences.

The mortgage rates have just risen slightly and are predicted to rise again. If you are thinking of buying, the time is NOW.