I often get asked about different real estate terms.  My purchasers or sellers that I am helping don't always use the same terminoligy that I am used to.  While it's important to "speak the same language" I also need them to understand some common, frequently used terms from my real estate world!


Here are a FEW (of many ... you can get the ENTIRE list here) terms that I wanted to fill you in on the definition of.  This may help you in your search, whether it be now, in the near future or somewhere down the road.


Adjustment Date: The day from which all calculations of interest, tax adjustments, utility bill adjustments (if applicable) are made to the credit of either the purchaser or the vendors. This is usually (but not always) the same as the possession date.


Blended Mortgage Payments: Equal or regular mortgage payments, consisting of both a principal and an interest component.


Closing Costs: Expenses in addition to the purchase price for buying and selling a property.


Conventional Mortgage: A first mortgage issued for up to 75 per cent of the property's appraised value or purchase price, whichever is lower.


Debt Service Ratio: The percentage of a borrower's income that can be used for housing costs. Gross Debt Service (GDS) Ratio is the amount that a lender will permit a borrower to use from his/her gross income in order to qualify for a loan for housing costs, including mortgage payment and taxes (and condominium fees, when applicable). Total Debt Service (TDS) Ratio is the maximum percentage of a borrower's income that a lender will consider for all debt repayment (other loans and credit cards, etc.) including a mortgage.


Easement: A legal right to use or cross (right-of-way) another person's land for limited purposes. A common example is a utility company's right to run wires or lay pipe across a property.


Lien: Any legal claim against a property, filed to ensure payment of a debt.


Open Mortgage: A mortgage that can be prepaid or renegotiated at any time and in any amount, without penalty.


Statements of Adjustments: Closing statements in a real estate transaction which set out the sources of funds which make up the purchase price, adjustments to and from the purchase price, the final amount required from the purchase and the amount due to the vendor. Lawyers will prepare a statement for the vendor and the purchaser.


Title Search: A detailed examination of the ownership documents to ensure there are no liens or other encumbrances on the property, and no questions regarding the seller's ownership claim.

As mentioned, this is a shortened list provided by the FVREB.  You can get the whole list here.


I hope this has helped!  Let me know if you have any questions!


Till next time ...




Post CommentComments: 0Read Full Story

I'd like to share with you today a short update on the local markets for the Langley and Abbotsford areas:



If you have any questions about what's happening in the greater FVREB area don't hesitate to get in touch with me at michele@michelecartwright.com.


Till then ...


Post CommentComments: 0Read Full Story

Here are some new photos of the kids at Kanyimbo Orphan Home. I am always excited to share new pictures of them and to see some of the items purchased from donations from the donations from January 2013.




The home was able to buy 2 tonnes of firewood used to cook with as well as the following items:


  • Maize
  • Beans
  • Wimbi
  • Rice
  • Sugar
  • Toothpaste
  • Detergent
  • and many more food items to help the children in care


I am so thankful to be among the amazing Imani Orphan Care supporters. They truly are making a DIFFERENCE in the lives of these amazing kids.


Join with Imani Orphan Care in raising funds for the land for the new Imani Orphan Home. They have already managed to raise $12,000.00 and need $8,000.00 more in order to purchase a 3-5 acre plot of land. The land will be put into Imani Orphan Care's name in order to ensure that the land is used to care for orphaned and vulnerable children and used for charitable purposes. They plan to take in all 80 children currently living at Kanyimbo Orphan Home pictured above. As well as many of the children that are living on the streets in this rural town of Ogembo in Western Kenya.


Thank you for making this dream a reality for the many kids in need!


Imani Orphan Care is change the world one child at a time!


Post CommentComments: 0Read Full Story

I'm here to talk to you about Pink Shirt Day, and Supporting Anti-Bullying.  As you can see from this video, this is something that has affected me personally and I want to make a difference in any way I can! 




Here are some stats regarding bullying in Canada:


  • Canada has the 9th highest rate of bullying in the 13-years-olds category on a scale of 35 countries1
  • At least 1 in 3 adolescent students in Canada have reported being bullied recently2
  • Among adult Canadians, 38% of males and 30% of females reported having experienced occasional or frequent bullying during their school years3
  • 47% of Canadian parents report having a child victim of bullying4
  • Any participation in bullying increases risk of suicidal ideas in youth5
  • The rate of discrimination experienced among students who identify as Lesbian, Gay, Bisexual, Trans-identified, Two-Spirited, Queer or Questioning (LGBTQ) is three times higher than heterosexual youth4
  • Girls are more likely to be bullied on the Internet than boys6
  • 7% of adult Internet users in Canada, age 18 years and older, self-reported having been a victim of cyber-bullying at some point in their life7
  • The most common form of cyber-bullying involved receiving threatening or aggressive e-mails or instant messages, reported by 73% of victims6
  • 40% of Canadian workers experience bullying on a weekly basis7

  1. Canadian Council on Learning – Bullying in Canada: How intimidation affects learning (PDF 164 KB)
  2. Molcho M., Craig W., Due P., Pickett W., Harel-fisch Y., Overpeck, M., and HBSC Bullying Writing Group. Cross-national time trends in bullying behaviour 1994-2006: findings from Europe and North America. International Journal of Public Health. 2009, 54 (S2): 225-234
  3. Kim Y.S., and leventhal B. Bullying and Suicide. A review. International Journal of Adolescent Medicine and Health. 2008, 20 (2): 133-154
  4. Bully Free Alberta – Homophobic Bullying
  5. Statistics Canada – Cyber-bullying and luring of children and youth
  6. Statistics Canada – Self-reported Internet victimization in Canada
  7. Lee R.T., and Brotheridge C.M. “When prey turns predatory: Workplace bullying as predictor of counteragression / bullying, coping, and well-being”. European Journal of Work and Organizational Psychology. 2006, 00 (0): 1-26


So, if by some mirace you have NOT been affected by bullying in your family, count your blessings, but also, realize that it IS a massive issue.


Let's make a difference, let's make a change  ... wear a Pink T-Shirt on Wednesday, February 27th!


There is more information here and here.


Till next time ...



PS  Take a picture of yourself in your Pink T-Shirt and share it with us on Facebook!  We'd love to see it!

Post CommentComments: 0Read Full Story

There are a lot of homes to choose from these days, and it's important to arm yourself with the best tools when house hunting.  What's the point in looking for a home, when you're not prepared! Wink

One of the most essential house hunting tools, which is often overlooked when buyers hit the pavement, is a camera.  Digital cameras today are so easy to use and have memory cards that make the number of pictures that can be stored virtually unlimited.  Taking pictures is an excellent way to supplement the information provided in MLS listings.

digital camera

Most digital cameras also switch between still photos and video, so make use of the video feature. 

Here are suggestions for what to photograph as you look at properties:

  • Property address.  If there is no address on the curb, mailbox or building, take a close-up photo of the address on the MLS listing and make that the first photo in the series you take on the property
  • Unique features that might influence your decision to make an offer
  • Specific model and condition – perhaps even serial number – of each appliance or other item that the MLS listing says comes with the property
  • Expensive faucets, chandeliers, and other installed fixtures that might be assumed to come with the property but should be noted in the purchase contract
  • Rooms or spaces that could be remodeling or redecorating projects
  • Items that you might request be repaired or replaced before close of escrow

Along with your camera, remember to pack a flash if the camera doesn’t have one, spare batteries, and spare memory cards.  If your camera has interchangeable lenses, bring a wide angle lens for interior photos.

Happy house hunting!

Note: If the property is occupied, ask for permission before taking photos.

When you are ready to start house hunting, be sure to give me a call!  I'd love to help you find the home of your drams!

Till then ...

signature line

Post CommentComments: 0Read Full Story
Categories: #icebucketchallenge | #RCBD | 2014 | 2014 Elections Langley | 2014 Trends | 35792 Canterbury Avenue | 3676 Bluejay Street | Abbotsford | Abbotsford BC | Abbotsford East, Abbotsford Real Estate | Abbotsford Listing | Abbotsford Listings | Abbotsford PD | Abbotsford Real Estate | Abbotsford West, Abbotsford Real Estate | Aberdeen, Abbotsford Real Estate | Acreage | Affordable Housing | Aldergrove | Aldergrove Langley, Langley Real Estate | ALS Ice Bucket Challenge | anti-bullying | Autumn home care | Autumn Time Change | availability | Average home price | Bank of Canada | Bank of Canada Rate | BC | BC Budget | BC Commercial Leading Indicator | BC Commercial Leading Indicator Rises | BC election | BC Historic and Heritage Sites | BC housing | BC Liberals | BC Lotto Max | BC mortgage rates | BC Real Estate news | BCREA | BCREA Housing | BCREA Housing Market Update | BCREA Mortgage Update | BCREA Update | Bear Creek Green Timbers, Surrey Real Estate | Beautiful BC | Before You Start House Shopping | Benchmark home price | British Columbia Consumer Debt Study | Brookswood Langley, Langley Real Estate | Budget | buy and sell online | Buyers Agent | Buying a Home | CAAMP | Campbell Valley, Langley Real Estate | Canada Day 2014 | Canada Day Celebrations | Canadian Investor Immigrant Program | Canadian Mortgage Rates | Canadian Real Estate Magazine | Canadian Real Estate Wealth Magazine | Canadian Realtors | Canadian Remembrance Day | Canadian stock market | Canadian stock market index | Canadian Thankgiving | Canadians | Central Abbotsford, Abbotsford Real Estate | Chad Kroeger | Chad Kroeger House for Sale | Change is in the Air | Chicken Wing Lollipops | Children's Miracle Network | Chilliwack | Chilliwack E Young-Yale, Chilliwack Real Estate | Chilliwack Listing | Chilliwack Mountain, Chilliwack Real Estate | Christmas | Christmas entertaining | Christmas Events | Christmas ideas | CIIP | Clayton, Cloverdale Real Estate | Cloverdale BC, Cloverdale Real Estate | Cloverdale Rodeo | CMHC | co-buy | Co-Own a Home | Co-Ownership | Colonial Home | condo | Considering Co-Ownership | Contest | Cottage Homes | Country Lane Estates | CREA | credit score | Customer Appreciation | Customer Appreciation Night | DIY Christmas | Downpayment | downsizing | Downtown Vancouver | Earth Day 2013 | East Abbotsford | Easter Weekend | Economics Now | entrepreneur | Estate Sale | EXCELLENT Revenue Property | Fab Forts Day | Fall Back | Fall Back 2013 | Famous Real Estate Quotes | Finances | Financial Post | First Time Buyers | First Time Home Buyers | First Time Homebuyer | Fort Langley | Fort Langley BC | Fort Langley, Langley Real Estate | Fraser Health Authority | Fraser Valley | Fraser Valley Real Estate | Fraser Valley Real Estate Board | Fraud | FSBO | FVREB | FVREB Market Update | Garibaldi Lane | Garibaldi Lane Abbotsford | get pre-approved for your mortgage | Getting the BEST Price for Your Home | Government Relations Committee | GVREB | Halloween | Happy Canada Day | Happy Holidays | Hatzic, Mission Real Estate | HGTV | History of BC | History of Labour Day | Holiday | Holiday decorating | Holiday recipes | Holidays | Home Inspectors | Home Staging | Home Staging that Sells | HomeLife | Homelife Benchmar | Homelife Benchmark | Homelife Benchmark Listing | Homelife Benchmark New Listing | HomeLife Benchmark Realty | HomeLife Benchmark Realty Walnut Grove | Hootie Johnston | house hunting tools | House Price Index | House Rich | Household debt | How Often Do You Unplug | how to buy a home | How To Prepare for an Open House | HPI | Imani Orphan Care | In Flanders Field | Interest Rate | Interest Rates | internet marketing | Investing in Canada | Just Reduced | Labour Day | Labour Day Weekend | Langley | Langley Arts Council | Langley BC | Langley City, Langley Real Estate | Langley Condo | Langley Listing | Langley long weekend activities | Langley Real Estate | Langley Tourism | Langley, BC | Large Open Concept Classic Elegance | live like a rock star | Long Weekend Activities | Lotto Max | Lower Mainland Real Estate | Lyoness | Market Update | market value | Mashable | Matsqui, Abbotsford Real Estate | May election | May long weekend | Median home price | Merry Christmas | Michele Cartwright | Michele Cartwrigt | micro-condo | Mission BC, Mission Real Estate | Mission-West, Mission Real Estate | Month of Miracles | Monthly Housing Market Update | Mortgage | mortgage information | mortgage news | Mortgage Rate Update | mortgage rates | Mortgage Update | Mother's Day | Mothers Day | Murrayville | Murrayville, Langley Real Estate | negotiating your mortgage in vancouver | New Listing | New Listings | New Year's | New Year's Resolutions | Nordel, N. Delta Real Estate | online marketing | Open House | paperless | pink shirt day | Pinterest | Polygon Homes | Port Kells | Port Kells Listing | Port Kells, North Surrey Real Estate | Postage Increase | pre-approval | pre-approved mortgage | price update | productive | productivity | Property Transfer Tax | PTT | Pumpkin Giveaway | Pumpkins | Quality of Life | RateHub.ca | RBC | RBC Economics | RBC Economics Update | Real Estate | Real Estate Agent | Real Estate Board of Greater Vancouver | Real Estate Fraud | Real Estate Investing | Real Estate Quotes | real estate terms | Real Estate Trends | Real Estate Update | REALTORS Care | REALTORS Care Blanket Drive | REALTORĀ® | REBG | REBGV | REBGV Housing Market Update | REBGV Market Update | refinancing your mortgage | REIN | REMAX | REMAX Agents | REMAX LIttle | REMAX Little Oak | REMAX Little Oak Fort Langley | Rememberance Day 2013 | Remembrance Day | Rental Income | REW | rew.ca | RRSP | Safety First | sales psychology | Salmon River, Langley Real Estate | Sands & Associates | Sapperton, New Westminster Real Estate | Sardis East Vedder Rd, Sardis Real Estate | Saving Money | Season's Greetings | Sellers Guide | Selling your home | Set Apart from the Rest | Size Matters | Social Media | spring break | Spring has sprung | Spring time | Spruce Up Your Home for Sale | Summer | summer holidays | summer real estate market | summer vacations 2014 | Surrey | Surrey BC Listing | Sweepstakes | technology | temporary solutions | temporary storage solutions | Thanksgiving | The Wealthy Barber Returns | Time Change | Top Reasons Why You Should List Your Home During the Holidays | Tourism Abbotsford | townhouse | Township of Langley | U.S. Government Shutdown | United Way Spirit Awards | Vancouver | Vancouver closet rentals | Vancouver Home & Design Show | Vancouver house rentals | Vancouver housing prices | Vancouver Real Estate | Vancouver Real Estate Market | Victoria Day | Victoria Day Long Weekend | Walnut Grove | Walnut Grove Langley | Walnut Grove, Langley Real Estate | Welcome to Langley | West Abbotsford | West Abbotsford Listing | White Rock BC | White Rock property | Whonnock, Maple Ridge Real Estate | Willoughby Heights, Langley Real Estate | Willowbrook Mall Langley | Winter | Winter House Prep | Year End Housing Market Update | Year End Report