Lance Phillips

Blog entry for Lance Phillips of Macdonald Realty, North Shore and Vancouver real estate specialist, 604-926-6718 or 604-861-6767

Reverse mortgage works for house-rich, cash-poorTapping in to house equity works — for some

Keith Greenard and Kevin Greenard for CanWest News Service

Published: Monday, March 27, 2006

The Province

VICTORIA — What are the options for retired people who become house-rich and cash-poor? The first thing that comes to mind is usually a reverse mortgage.

But few people know what they are and when they make sense.

Reverse mortgages are residential first mortgages secured by a specific property

Blog entry for Lance Phillips of Macdonald Realty, North Shore and Vancouver Real Estate Specialist, 604-926-6718 or 604-861-6767

20427 67B AveLangley, BCWilloughby Heights$579,9006 Bedrooms4 full Bathrooms3,875 sq. ft.3,875 Square Feet3 years old$3419.57/2005 Prop. Tax

Prestigious Willoughby Heights cul-de-sac location. The main floor features a great room with a gourmet’s dream kitchen with all stainless steel appliances including a gas range and an oversized island. French doors from the great room lead to a professionally landscaped backyard including a fabulous waterfall ($10,000.00 value). Four bedrooms upstairs including a sumptuous master

Blog entry for Lance Phillips of Macdonald Realty, North Shore and Vancouver Real Estate Specialist, 604-926-6718 or 604-861-6767

There is an interesting article in the March 2006 issue of the Vancouver magazine that addresses the benefits of home staging. The writer, Michael Harris, states that, “Home staging has become big business because it adds big bucks to the sale price.” Here is an excerpt from the article, titled “Fluffing for Dollars”:

Who Says You Need a Professionald Stylist?

You’ve been on a first date before. This is no different. First impressions are everything; floss your teeth, cover odours and don’t bring up religion or