The largest posession we need to dispense with before leaving Vancouver for Malta is our apartment. On Friday we listed it for sale, using old family friend and super-realtor Chris Maude of Maude, Mckay & Co.. Here’s the description from the MLS database:

Over 600 sq.ft. one bedroom and office with new hardwood floors, paint and tiles. Breathtaking vistas of city, mountains and False Creek from the 25th floor of Yaletown’s fabulous ‘501’. Excellent value includes all appliances, packed with features and close to everything. See slide show at www.darrenbarefoot.com/apt/. Call Chris at 604-782-2003 for further details and easy showing.

All that for a mere CAN $359,500. I don’t really imagine that any of you are currently shopping for a Vancouver apartment, but I figured I’d mention it just the same.

I have no idea how long it’ll take to sell–apparently sales are down in volume from last year, but prices have remained firm. What the heck do I know? I’ll leave the speculation to the experts.

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Looks good Darren! I won’t give you the asking price but i’ll offeryou $318,000 cash for it. Accept?

Heh, sorry, but I’m hoping to get a lot closer to the asking price than that.

Do you mind if I ask what the monthly payment works out to on that?

I could never afford it, but I have no concept of how real estate sticker prices relate to what you would actually pay on a monthly basis.

That all depends on how big your mortgage is, which depends on how much of a down payment you have.

The standard down payment is 25%, so that would be $89,875. The prime interest rate is 6%, though you should be able to do a little better than that. So, you’re borrowing $269,625.00 over 25 years, that works out to $1,737.20 a month, according to the first mortgage calculator I tired.

Wanna trade up? I got an apartment – granted its a little smaller than yours..and technically isnt what a realty expert would call “packed”, “excellent” or even “value for money” – but I will trade you my friend – we’re talking fair swap, no questions asked. One time deal. Whattaya say?

Wow, when we just refinanced, our bank gave us 4.8%. We have excellent credit, but, even so, a 6% rate is highway robbery. If anyone out there is looking for a mortgage, I highly recommend going with a mortgage broker. The service is free, since the broker is paid by whatever bank you end up with.

25% is the downpayment on a conventional mortgage. But I think most people are jumping in with 5% or 10% down these days, since that’s almost as much money as a 25% downpayment was a few years ago.

The standard down payment is 25%, so that would be $89,875.Who has $90,000 sitting around? Yikes.