Tax Changes Our BC Government has recently surprised us with a change to the First Time Home Buyer Exemption cap. It has been increased by $50,000 to a purchase of $475,000. There is a sliding scale between $475.000 and $500,000. This is good news and should have a positive effect on Real Estate sales and prices. Fixed mortgage rates remain on a downward trend and some awesome rates are available, see below. The Ba
By Emma Crawford-Hampel Fri Feb 21, 2014 8:44am PST For the second month in a row, British Columbia recorded no year-over-year inflation in January, announced Statistics Canada February 21, while across Canada, consumer prices increased 1.5% over the same period. Prices remained flat in B.C. partly because of the removal of the HST in April 2013, making some products and services no longer subject to taxation or b
Vancouver has the best quality of life in North America, and the fifth-best in the world, according to a new survey. But what exactly does that mean? The Province asked if the city was deserving of it’s newfound status. Watch Video: story.html#ooid=o2Y3VxazoXYmU5WWFTf9rltIUMzlOQHo Vancouver has the best quality of life in North America, and the fifth-best in the world, according to a new survey. The
Policy that allowed wealthy foreigners into country criticized for failing to generate economic benefits By Tara Carman and Peter O’Neil, Vancouver Sun February 11, 2014 The immigrant investor program that is being eliminated as part of changes to federal immigration policy was critized by both Citizenship and Immigration Minister Chris Alexander, above, and former immigration minister Jason Kenney. They say
The Vancouver Sun February 10, 2014. 10:26 am An investigation by a Hong-Kong-based newspaper into Canada’s immigration program for millionaire investors “has revealed the extraordinary extent to which it has become devoted to a single outcome: Helping rich mainland Chinese settle in Vancouver.” Sales of Vancouver houses like this rose dramatically in 2013. Vancouver immigration lawyer-resea
By Glen Korstrom Tue Feb 4, 2014 11:29am PST Metro Vancouver home sales stabilized in January, following a sluggish 2013, when sales were dramatically below the 10-year average, according to numbers that the Real Estate Board of Greater Vancouver released February 4. Prices also rose 3.2% year-over-year during the month. Total Metro Vancouver home sales in January reached 1,760, which is a 30.3% increase from the
Here We Go Again Fixed term mortgage rates have been falling and the trend should continue throughout the next few months. Banks particularly have been reluctant to act quickly to drop rates but many non-banks are acting to decrease. Time after time I see too many customers lock in at high rates at the suggestion of their lender and then be charged huge penalties or be handcuffed to the lender and the higher rate.