WOW! This has go to be one of the busiest weekends in a long long time!
Not only our own coordinated event in the South Meridian neighbourhood, but one in Summerfield as well, the annual Hall’s Prairie Country Fair (which includes a garage sale) a “Kids’ stuff” swap meet and numerous other events going on!
Don’t forget to stay hydrated today! And sunscreen, wear your sunscreen!
Please feel comfortable suggesting HudsonHomeTeam in your Real Estate conversations.
Renting out property to get easier as CMHC changes rules
by Steve Randall28 Jul 2015
The rules around the income from rental units considered in home loan applications submitted to the CMHC are changing. The agency announced Monday that, from September 28, it will allow 100 per cent of the rental income from a unit to be considered for new loan applications submitted to it for mortgage insurance.
That means that a secondary rentals suite’s income, minus costs including property taxes, will boost the size of the loan that buyers can secure. Qualifying units must have sustainable income, proven by two years of rental rent payments. These payments will be averaged to assess the unit’s income. Applicants will also need a credit rating of at least 680. Properties with more than a single rental unit will have slightly different rules and this change is most positive for homeowners with one rental unit.
Vancouver, BC, Canada / News Talk 980 CKNW | Vancouver's News. Vancouver's Talk Matt Lee
It appears the province has no plans to slow down the growth happening in some Surrey neighbourhoods.
It comes even after school trustees passed a unanimous motion on Thursday calling for a halt in development.
The motion tabled by Laurae McNally suggested provincial funding for new schools isn’t keeping up with the pace of population growth in the fastest growing city in the province.
That’s why they called on the city to halt the development happening in the Clayton, Grandview/South Surrey, and Newton areas.
But education minister Mike Bernier is singing a different tune.
In a statement to CKNW, Bernier says he understands the challenges facing the school district, but hints at major projects already being underway with more slated to come.
He says as the city moves forward, Surrey and other districts experiencing similar growth will be a priority for future capital investments.
I understand the challenges Surrey has and I’ve discussed them with the board when we met a few months ago. My Ministry is working closely with the Surrey district to find ways to deal with the intense pressures from growth. As we move forward, Surrey and other districts experiencing growth will be a priority for future capital investments. There are several major projects underway and more slated to come – the new Clayton North Secondary and additions to three elementary schools are under way – projects worth $64.6 million. These projects will create 1,870 spaces for Surrey. Since 2001, we’ve invested more than $337 million for 55 capital and seismic projects, and 12 site acquisitions in Surrey. Last year we completed Goldstone Park and Katzie elementary schools, and additions to Fraser Heights and Panorama Ridge Secondary. These projects, worth a total of $44.2 million, created 1,160 spaces for elementary and 500 secondary spaces in Surrey.
Earlier in the school year we had the opportunity to experience one of the Semiahmoo Music Society's various concerts.
While we had heard great things about the school music program, we were blown away by the quality of musicianship of the various levels of bands the school has. Afterwards, we had the opportunity to meet and talk with the Music Department Teachers, all so very enthusiastic and passionate about what they do.
We talked about the students, the funding and how financing the program has it's challenges. Mr. Lowe, the department head, mentioned how they are constantly looking at way to fund-raise for the purchase/upkeep of instruments as well as funding for festivals, workshops and trips, sometimes to far-off places in the world.
We realized we have an opportunity to do our part. We enjoy supporting the community through various fund-raising efforts for food-banks, hospital charities, neighbourhood events and sports participation, but we had no focus on the music. And without music... well, what is there to dance to?
As a Team, we would like donate $400 towards the Semiahmoo Music Society for every house marketed to completion or bought through us in the South Surrey/White Rock area. If you have experienced the joy of the Semi Music Society's talented students, please keep us in mind when the topic of Real Estate comes up in conversation.
With your assistance we can help the music in our neighbourhood play for years to come.
For more information please contact Andrew at 604-773-3940 or Info at HudsonHomeTeam.com
Trustees are asking the city to temporarily halt new development in three neighbourhoods.
“At the moment we are in a crisis. This is the worst I have ever seen it on the board,” says Laurae McNally, a 30-year veteran of the board, who spearheaded the motion directed at the city.
The board wants the city to “temporarily suspend all new development approvals in the Clayton, Grandview/South Surrey and South Newton regions until the Surrey School District receives adequate provincial capital funding to support the many new students in these regions.”
“We have 275 classroom portables, which we have to pay for out our operating budget. We have four high schools on extended days,” McNally explains.
Plus, a couple of schools need to run five kindergarten classes to meet demand.
“The $4 million a year that the portables cost us is the equivalent of 50 teachers that we could put in our system.”
She says teachers, students and parents have been very patient but they are getting very tired of the situation.
“Everybody wants to see a light at the end of the tunnel.
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