The problem with looking at one piece of data out of context is that, all too often, the context is what renders the data useful.  This month’s Real Estate board press release is a terrific example of that very fact.  And the problem with the Real Estate Board not doing a thorough analysis is that the media blindly reprints the board’s press release.

 

Now that we’ve set the stage, let’s start with the usual stats - the numbers shown are a ratio of the number of active listings (at end of month) over the number of sales in that month.  Numbers above a 20% are considered to be sellers’ markets, below a 15% are buyers’ market and in-between are considered balanced.  Beside the number, we’ve indicated the direction the inventory on market moved when compared to the previous month.

  

 

AREA

SALES RATIO

INVENTORY + VARIANCE

AVERAGE

SALE PRICE

DOWN TOWN

Attached

78%

 

370 - Up 6%

 at list price

VAN WEST

Detached

33%

528 - Up 1%

1% below list

VAN WEST

Attached

82%

395 - Up 2%

4% above list

VAN EAST

Detached

27%

448 - Up 1%

3% above list

VAN EAST

Attached

94%

227 - Up 7%

6% above list

NEW WEST

Detached

 

52%

92 - Up 33%

3% above list

NEW WEST

Attached

85%

177 - Down 3%

2% above list

BURNABY

Detached

37%

 349 - Up 30%

2% above list

BURNABY

Attached

93%

369 - Down 1%

3% above list

NORTH VAN

Detached

65%

 209 - Up 28%

3% above list

NORTH VAN

Attached

100%

 147 - Down 3%

3% above

 

 

 

 

Our regular readers will quickly see that almost all of the markets moved further into sellers’ market conditions over the last month (and the few that did move upwards, didn’t really do so by any significant enough amount to be relevant.  In fact, we are now in sellers’ market conditions in all of the areas we track for this report.  These market conditions are not new for condos and townhouses (which have been experiencing sustained sellers’ market conditions long enough that pricing is driving upwards).  The detached market, on the other hand, has been a much more balanced market over the last few months and it’s only recently (the last 3 weeks) that we’ve been experiencing seller’s market conditions on the detached side of things. 

 

Imagine then our surprise when the Vancouver Sun reported that “buyers looking for a detached home will soon have more options to pick from and less competition to out-bid”.  We then remembered that journalism isn’t what it used to be and that they were probably not doing their own analysis, but were getting their information from the Real Estate board’s press release (which we then went to find) which stated that “Home buyers are beginning to have more selection to choose from in the detached market..”.  One of the biggest problems we have with this report is that it doesn’t take into account the number of active listings which are not actually homes available for purchase by buyers looking for a home to live in. As of May 4th, there were 749 detached homes listed in Vancouver. Of those listings, 219 were land assembly properties. That means 30% of the inventory that is being counted as available by the real estate board, and consequently by the media, are not actually available to anyone other than developers.

 

To further illustrate the increased pace of the detached market we will share a story from a sale last week.  An older house (56 years old) with no updates and an unfinished basement on a 33×109.4 lot was listed for 1,200,000 two weeks ago. The closest comparable sale was a month previously of a 29-year old house on an identical lot with a suited basement a block down the street that had sold for 1,368,000.  The older, un-renovated house without a suite ended up selling for 1,333,000 – not nearly enough of a difference to make up the difference in finishing between the two (let alone the extra kitchen and income potential offered by the 29 year old house).

 

We’d be remiss not to mention the impact the changing political climate may have on the housing market.  Opinions on the topic are wide-ranging – with some speculating that if/when the NDP/Green coalition take power, the economy will suffer and housing prices will fall and others speculating that the market demand is too strong to have a noticeable impact on housing prices for any sustained period of time.  However, the changing political climate has already had the impact of everyone wondering what will happen to housing prices.  Generally speaking, the slightest uncertainty has been enough to slow the market – and so it is fairly reasonable to expect that the market will likely slow for some period of time in the not too distant future.

 

For full reports for Metro Vancouver, Greater Vancouver and Fraser Valley market activity by neighborhood and price point, contact me and I would be happy to share. 

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Going back a few months, our market was fairly quiet and some were declaring an imminent crash.  In reviewing this months’ numbers, it’s reasonably clear that any threat of a imminent crash has disappeared.

 

Let’s start with the usual stats - the numbers shown are a ratio of the number of active listings (at end of month) over the number of sales in that month.  Numbers above a 7 are considered to be buyers’ markets, below a 5 are sellers’ and in-between are considered balanced.  Beside the number, I’ve indicated the direction the market moved when compared to the previous month.

 

Months Supply

Van West

Van East

North Van

Richmond

Burnaby

New West

Detached

5.9

Down

4.3

Down

2.4

Down

4.3

Down

3.8

Down

2.4

Down

Attached

2.0

Down

2.1

Down

1.2

Same

1.9

Down

1.6

Down

1.3

Down

Condo

1.4

Down

1.1

Down

0.9

Down

1.0

Down

1.3

Down

1.2

Down

 

The incredible thing about these numbers is to see how quickly and how strongly the detached markets have rebounded.  Admittedly the West side of Vancouver is now “only” in a balanced market, but it is important to remember that a short two months ago, we were reporting 15.6 months of inventory in that market (the strongest buyer’s market conditions we’ve seen since in any of our markets since January of 2009).  Similarly, detached markets in our other regions (which had been trending in the 7-9 months range) are all back squarely into being seller’s markets.  Realistically, the attached/condo markets didn’t really have much “recovery” to make (as anyone who regularly reads this newsletter will know) – they’ve mostly all remained in sellers market conditions.  Admittedly, it is striking to see that they’ve managed to get even tougher on buyers than in the last few months.

 

The question becomes – what’s driving these conditions.  For the most part, the answer continues to be a lack of inventory.  Homeowners simply don’t seem to be selling their homes in as large numbers as our market has/had become accustomed to.  Excluding 2016 from the analysis momentarily, we are seeing inventory levels at ½ of what we would in the month of March for any of 2011-2015.  Sales numbers are also down when compared to those years, but not be nearly the same percentages. (generally closer to 25% - 30% less sales in any comparable March).

 

What does this all mean?  It means that as long as these pressures remain for any sustained period of time, we’ll see prices increasing again.  We had seen prices decrease through last fall.  Most of the pricing graphs for these markets are now showing a leveling off of prices and, in some cases, price increases again. 

 

 

 

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Low Supply and Snow Limit Vancouver-area Home Sales in February – Vancouver Sun


Scotiabank CEO Concerned About Correction in Vancouver, Toronto Housing Market –Global News

 

Imagine reading those headlines and then having us tell you that you’re going to be competing against 5 other buyers for the home that you want to live in.  That is exactly what happened for three of our buyers in the past week.  Which begs the question – why is the media reporting the “end of the Vancouver Real estate bubble”? And, more importantly, what is actually happening in the market?

 

We’ll start with the usual stats - the numbers shown are a ratio of the number of active listings (at end of month) over the number of sales in that month.  Numbers above a 7 are considered Buyers’ markets, below a 5 are Sellers’ and in-between are considered balanced.  Beside the number, I’ve indicated the direction the market moved when compared to the previous month.

 

Months Supply

Van West

Van East

North Van

Richmond

Burnaby

New West

Detached

6.1

Down

7.9

Down

2.6

Down

7.2

Down

8.2

Down

9.1

Up

Attached

3.0

Down

3.7

Down

1.2

Down

2.9

Down

3.6

Down

2.3

Down

Condo

1.8

Down

1.7

Down

1.3

Down

1.7

Down

2.0

Down

1.4

Down

 

It’s certainly true to say that some segments of our market are slow (even incredibly slow in some cases), but the vast majority of homes in the Vancouver area are in fact experiencing Sellers’ market conditions.  Statistically, the only “line” we can really draw would be loosely defined as the “luxury market”.  That is, homes at the top end of whatever segment we’re looking at (Eastside detached homes over $2.0Million, Westside detached over $3.5Million, New West homes over $1.0Million).  In virtually all cases, homes in the “luxury” segment have experienced a dramatic slowdown and a steady (if not steep) decline on pricing since Summer 2016.  The unwritten story (at least, uncovered by the media) is that the rest of the market is actually incredibly strong with multiple offers and price increases being the norm in those “affordable” segments.  For instance, just last week, we saw an east side house priced at $1,338,000 sell with 11 offers for $1,650,888.  Or, the week before a 1 bedroom condo in Fairview priced at $530,000 sell with 4 offers for $590,000. 

 

Other than the segmented market, the other interesting observation to note has been the complete lack of inventory in virtually all areas of the market.  While sales volume remains lower than the last two years, a comparison of sales volumes for February show that February was a strong month when compared against 2012, 2013 or 2014.  However, Buyers are simply not seeing the kind of variety/choice that we typically experience in this season.  If you ignore last year’s Spring, the current inventory is running at approximately ½ of what we saw in February of 2012, 2013, 2014 or 2015.  Obviously, when the supply side of a market equation isn’t sufficient, the market pressure will cause an increase in pricing – and that’s certainly what we’re seeing in markets outside of the “luxury” end of the market.

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A small bit of good news for first time buyers: An increase in the Property Transfer Tax exemption threshold for first-time buyers, announced in BC Provincial Budget 2017. The increase, to $500,000 from $475,000, takes effect today.


This change will make a difference for a lot of people. Since many of the first time buyers are now shopping in the $500k range, they can now benefit from the exemption. At the previous threshold, if they purchased at $500k, they would have had to pay the full amount of 1% on the first $200,000 and 2% on the balance. Even though it was a sliding scale after the $475k previous exemption threshold, the scale was steep and fast.


For more info on exemptions and the Property Transfer Tax in general, click here to visit: The Governemnt of BC 

 

Land transfer tax rates in British Columbia – Updated in 2016
 
Purchase priceMarginal tax rate
First $200,000 1.0%
On $200,000 to $2,000,000 2.0%
Over $2,000,001 3.0%
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Earlier this week, a friend called me to ask about her rights and responsibilities as a duplex owner. She has been having a minor dispute with her neighbor who owns the other side of the duplex where my friend lives. With the market the way it has been these past couple of years, we are seeing more duplexes being built and more people choosing it as an affordable option to have at least half of a detached home in Vancouver and surrounding areas. Duplexes are a great option for many people. But it is important you enter into duplex living fully aware of the implications. If both owners care about maintaining the property's appearance and value, in most cases the relationship between owners will run smoothly. If the owners disagree about what needs to be done, how it should be done or how much should be spent to do it, that's when you can run into problems.

 

So, if you disagree with your duplex neightbour, how does a decision get made? Duplexes are what we call non-conforming stratas. This means that the property is stratified so that one half of it can be sold independently from the other half. It also means that the property is subject to the strata property act standard by-laws, unless the owners have created their own by-laws (which is rarely the case). So, if there is a disagreement about the care and maintenace of the common property, such as painting the exterior walls, the standard by-laws state that the strata corporation will determine what will be done. In any strata, the owners make up the strata corporation. Are you following me here? If there are two owners, the owners make up the strata corporation and the strata corporation has the final say on what is to be done or not. You can see how this will be problematic if the 2 parties disagree. Essentially what this means is that nothing can be done if the two owners of the duplex disagree.

 

Now, what about if one owner went ahead and acted on the common property (gardens, fences, exterior walls and roof) wihtout the prior authorization of the strata corportation (both owners)? Well, the party who acted without authorization of the strata corporation (in other words the other owner), would be in violation of the strata property standard by-laws. I am not writing this post to scare you off purchasing a duplex. As with all my dealings with clients and the public, I just want to make sure you have information you need to make a sound decision.

 

What can do to make sure you have good neighbours when you buy a duplex (or any other property for that matter)? Be a good neighbour! I have found that the majority of people make for good neighbours. We have all heard horror stories of neighbors from hell, you may have even experienced one, but most people want their home to be a peaceful place and so they make for good neighbours. But there are some steps you can take to find out who your neighbours will be. Don't be afraid to ask questions about the neighbours and if they are willing, take the time to meet your potential neighbours before you make an offer. 

 

A final word on purchasing a duplex. Make sure you get a copy of the strata plan (all pages not just the first page) before you make an offer to be sure you are clear on the designated use of the limited common property. Your Realtor can make sure you have all pages and can interpret the details of the document for you. (Reading a strata plan is not rocket science, but it can be confusing if you have never seen one before, or if you have not been taught how to read it).

 

Click here to access the Strata Property Act Standard By Laws.  If you need assistance interpreting them, feel free to contact me. 

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The Vancouver City Planning department has set up a pop up plannining shop in International Village Mall and they are holding public open houses all week. I visited the pop up shop today and saw the 3D model of the plan. Sorry, I don't have a photo to share (technical difficulties that originated with the user!). The plan looks great and makes a lot of sense. I was very impressed with city employee who spent a long time explaining the plan and answering my questions. The main concern I hear about the proposed removal of the viaducts is "where will the traffic go?" The thing people don't seem to undertand is this plan is not just to remove the viaducts, but to replace them with a better option. At present, transit and emergency vehicles cannot use the viaducts during peak times without running the risk of getting stuck in a grid lock. The new routes will allow such vehicles another option and will allow commuters the opportunity to re-route when traffic is heavy. There are so many great reasons to support the development plan, but I will let you explore them in the planning docuement on the city website. Or better yet, I encourage you to get out to one of the remaining open houses between now and February 7th. The reality is that the viaducts are an aging structure that has had a great deal of negative impact on the surrounding communities. I will be glad to see them go. And when I say see them go, I mean literally. I can see them from my living room window. It is a long term plan and it will take upwards of 10 years before we see it completed and yes, there will be some inconvenience in the process, but I am excited about the plans to improve the community around North East Fasle Creek. Click here to visit the City of Vancouver website for more information and to fill out a survey to share your thoughts and ideas with the planning committee. 

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If you are currently taking advantage of a reverse mortgage, for the sake of those you will leave behind, I urge you to make sure your affairs are in order and your exectors know the terms of the mortgage agreement. There are only a couple of lenders that offer reverse mortgages and at least one of them has it in the contract that the mortgage must be paid out in full within 6 months of the time of death of the person who owes on the mortgage. 

 

If you are an executor in such a case, here are some steps you can take immediately to ensure that the terms of the mortgage agreement aren't violated. Get in touch with the legal represenative for the estate and start the probate process as soon as possible. Then contact the designated representative of the lending institution to let them know you have initiated probate.  Probate is the process of ensuring the will is real and was left by the deceased. Once you have contacted the lawyer and the lender (if there is a mortgae of any kind), contact your realtor, (ideally me), to discuss when to list the property for sale. It is important to note that an estate cannot be sold until the will has gone through probate.

 

The Real Estate Council of BC has advised that properties should not be listed until probate has been granted; however, there is no definite rule about the matter. The important thing to remember is that a property cannot change hands until probate has been completed. This doesn't mean you cannot accept an offer. If you find a buyer who is willing to wait until probate is complete before they become the registered owners of the property, then you can accept an offer before probate is complete. Most lawyers will tell you probate takes 4-6 weeks. However, I have seen it take much longer, so be prepared that it could take several months.

 

A delayed probate can be problematic when there is a reverse mortgage, or any mortgage for that matter, in which the contract states that in the case of the owner being deceased the mortgage must be paid out within a certain time frame or else they will foreclose on the property. The important thing to remember is that while the lenders will insist on their due, if you are an executor who is making sincere, measurable efforts to settle the estate, and you are keeping the lender informed, the lender will usually find a way to work with you if circumstances beyond your control occur, such as delayed probate. If you find yourself in such a scenario, be sure to contact a Real Estate and/or and Wills and Estates Lawyer for legal advice. 

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With the announcement of the new budget yesterday, the Government of BC updated their website on the Property Transfer Tax (PTT).  Here is what you need to know:

 

The Property Transfer Tax for resale properties under $2,000,000 has remained the same at 

 1% on the first $100,000 and 2% on the balance.  First time buyers, who are Canadian citizens or permanent residents, are still exempt if their purchase is under $475,000.

 

For purchases over $2,000,000, there is now a 3% transfer tax. This 3% tax applies only to the portion of the purchase that is above $2,000,000. It appears from the Government website that this 3% PPT is effective immediately. However, we are encouraging our clients to seek legal advice if they already have a deal in place that has not yet completed. 

 

For the New Build Exemption up to $750,000 (conditions apply, read website), the transaction needs to close after February 16, 2016. So, it sound like Buyers will start being eligible for that exemption immediately. Again, you should seek legal advice. 

 

Below is the link that will take you directely to the Property Transfer Tax section of the Government of BC website. There you will find more details and calculators to help you figure out how much PTT is payable on your purchase. 

 

 
There remains some lack of clarity about when parts of this new plan will come into effect, so if you are in the process of purchasing a home (that is you already have an accepted offer and are waiting for completion) we urge you to seek legal advice before closing on the deal. 
 
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This is a one of a kind opportunity! If you or someone you know works in the sound, film or music industry, then you are going to want to see this: 

 

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Have a look at the video tour for my newest listing:

 

1706-1088 Quebec Street

 

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We are in a strong Seller's Market across the Lower Mainland. If you want specific information about your neighborhood, ask me about my Snap Stats report. 

 

 

 

 

 

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Click here to be directed to the Macrealty Market Update.

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3 bed, 2 bath, 1452sf beautifully updated condo with fabulous water and city views!

Visit the video tour on YouTube

Open House Schedule: Saturday, October 31 and Sunday November 1st 2-4pm

 

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Click here to see video tour of 2878 Wall Street. 

 

 

 

In the sought after neighbourhood of Hastings Sunrise close to parks, trails, schools and amenities, this fully updated 4 bed, 3 bath view home is the gem of Wall Street. It's a perfect balance of elegance and liveability. The gorgeous kitchen at the heart of the home will be a favourite place for family meals and for entertaining. The space is so beautiful and inviting, you will never want to leave. Improvements include: re-finished oak floors throughout, fresh paint throughout, upgraded bathrooms with double vanity in master ensuite, new kitchen with granite counters, brand new SS appliances and loads of cupboard space, a new roof, new stucco, and new windows. 


List Price: $1,299,000

 

Open Hosue Schedule:

 

Thrusday, October 22:  Sneak Peek 6-7pm

 

Saturday, October 24: 1-3pm

 

Sunday, October 25:  2-4pm

 

Come on by and check it out. 

 

Whether you are thinking of buying or selling, just remember: all you have to do is imagine your future, I'll help you find it. 

Give me a call and we can discuss your plans. 

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The Vancouver City Planning Committe would like us to consider the question of removing the Viaducts. I attened a presentation last night at Sceince World by a group of panelists who detailed the reasons for removing the Viaducts. I went with an open mind and no definite position on the matter. I left with a certianty that removing the Viaducts will be good for our city. 

 

Here is a recap of Vancouver's Manager of City Planning, Brian Jackson, had to say:

 


1. Why now? 
We are at a pivotal point in the city's evolution in down town and there is an opportunity to connect the neighbourhoods.
There is vacant land right now available for staging the removal. Once Concord has developed the land, the cost will be higher to remove the viaducts because there will be no bare land to stage the removal. There is a precedent in Toronto that supports this argument since Toronto delayed the decision for a similar project and when they did finally proceed, the vacant land had been developed and the removal ended up costing hundreds of thousands of dollars more than the original proposal.  

2. Why? Two and a half acres of land will become available for housing, market and affordable. Main Street will be re connected. A new high street on the eastern side of Downtown is an intangible benefit. Will link the haves and have not communities. The road can be replaced with an at grade road system. There will be better circulation of vehicles. 
You won't get stuck on the viaduct because there will be opportunities to veer off the road way if it is at grade level.

Concord is required to build a 9 acre park. Taking down viaducts will increase the park to 13.5 acres.
This is an exciting opportunity to undo the damage that was done to communities in the 60s and 70s.

3. Who is this for? China Town, False Creek (bigger park) , Olympic Village( with the current proposal they will keep the view). New community of 1200 units. Opportunity for new community and entertainment district at False Creek.
For cyclists. For pedestrians to have safe at grade environment. Anyone traveling in and out of Vancouver.

4. What's next?  Planning committee expects the planning process will take at least a year once council tells them to go ahead with planning.


At its meeting on October 20, 2015, Vancouver City Council will receive a presentation regarding the Removal of the Georgia and Dunsmuir Viaducts, and refer the matter to the following meeting to hear from speakers: 
 
MEETING: Standing Committee on City Finance and Services
DATE: Wednesday, October 21, 2015
TIME: 2 pm
LOCATION: Council Chamber, Third Floor, City Hall
453 West 12th Avenue

 

The agenda for the meeting can be viewed at: http://vancouver.ca/councilmeetingsand the relevant report at: http://former.vancouver.ca/ctyclerk/cclerk/20151020/documents/rr1.pdf.  
 
If you wish further information on this matter, please contact Holly Sovdi, Planner, Vancouver – Downtown, at 604.871.6330. If you wish to speak to Council, please email to speaker.request@vancouver.ca or call Lori Isfeld at 604.871.6355. Please note speakers are requested to limit their comments to no longer than five minutes.
 
You may also communicate your thoughts on the issue to the Mayor and Councillors by emailing mayorandcouncil@vancouver.ca and we will ensure Council receives all correspondence before the matter is considered.
 
Visit http://vancouver.ca/speaker-wait-times or @VanCityClerk on Twitter for real-time information on the progress of City Council meetings. All meetings of Council are webcast and can be viewed at: http://civic.neulion.com/cityofvancouver/ . The minutes for this meeting can be viewed at: http://vancouver.ca/councilmeetings approximately two days following the meeting. 
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The City of Vancouver has released a report recommending a 200 million dollar plan for removing the Georgia and Dunsmuir Viaducts. This announcement comes as no surprise because the rumour has been circulating for years that the viaducts would come down. If you live in the area, you may have concerns about the impact on traffic flow. If you want more information, visit the City of Vancouver website here: vancouver.ca

 

 

You can also attend this specail event Vancouver's Viaducts: Past, Present and Future hosted by the City on October 14th at Science World. You will need a ticket for the event, but tickets are free at eventbrite.ca. 

 

The City Council is tentatively scheduled to meet on October 20th to consider the report. To be notified when a council meeting has been scheduled click here then scroll to the bottom of the page and submit your email.  

 

To share your concerns or comments with the City Planners click here and scroll to the bottom of the page.

 

I will be attending the meeting on October 14th and will share what I learn here on my blog, so be sure to visit again soon.

 

Until then, remember, all you have to do is imagine your future . . . I'll help you find it.

 

Deborah 

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A pet peeve for a lot of Real Estate Buyers is the Property Transfer Tax payable on home purcahses in BC. I want to let my readers know that the BC Real Estate Association, of which I am a member, is lobbying on behalf of BC Buyers. Please have a look at the article below that I have copied from BCREA's October newsletter. 

 

 Still Seeking Fairness for Real Estate Buyers

This month, BCREA will make recommendations to improve housing affordability and tax fairness for BC homebuyers, as part of the annual consultation on the provincial budget.

BC's Liberal government has made tax competitiveness a cornerstone of its fiscal policy, except for the Property Transfer Tax (PTT). Ever since the PTT was introduced in 1987, it has been applied in the following way: 1% on the first $200,000 of the fair market value of a property, and 2% on the remainder. This static structure is entirely at odds with BC's dynamic real estate market, and places an increasingly unfair burden on homebuyers.

If the PTT is to remain, due to its contribution to provincial revenue, then it's time to restructure the tax to reflect market conditions and assist BC families, many of whom face the highest home ownership costs in the country. For this reason, BCREA will once more ask the provincial Select Standing Committee on Finance and Government Services to forward the following recommendations to the Minister of Finance for inclusion in the 2016/2017 provincial budget:

  1. Increase the 1% PTT threshold from $200,000 to $525,000, with 2% applying to the remainder of the fair market value. 
  2. Index the 1% PTT threshold of $525,000 using the MLS® Home Price Index, and make adjustments annually. 

BCREA believes a fair system of taxation and a thriving economy will help citizens throughout BC enjoy an enviable quality of life, and better position BC to attract businesses.

While BCREA has taken countless opportunities in the past 28 years to lobby for either elimination or mitigation of the PTT, the context of this year's consultation is somewhat unique. In recent weeks, BC Minister of Finance the Honourable Mike de Jong has speculated in the media about increasing the 1% threshold and possibly changing the structure of the tax. BCREA, 11 real estate boards and nearly 20,000 REALTORS® around the province are always interested in working with the provincial government on this issue.

The provincial budget consultation is undertaken every year by the Select Standing Committee on Finance and Government Services of the Legislative Assembly of BC. The all-party committee holds hearings and accepts submissions for about a month, and then releases a report by mid-November. To learn how to participate in the budget consultation process, visit www.leg.bc.ca/cmt/finance/budget-consultations.asp.

For more information about BCREA's position on the PTT, visit BCREA's website at www.bcrea.bc.ca/government-relations/shelter-taxes.

 

I am committed to keeping you informed with news that impacts your real estate purcahses and investments. If you have questions about anythign to do with Real Estate, please contact me. I am happy to help. 

 

Remember, all you have to do is imagine your future . . . I'll help you find it. 

 

Deborah

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Factors that affect your home in today's real estate market:

 

LOCATION: Location is the single most important factor in determining the price of your home.

 

COMPETITION: Prospective buyers compare your home against competing properties. Buyers perceive value based on recent sales and current listings.

 
TIMING: Property values are affected by the current real estate market. As the real estate market cannot be manipulated, a flexible marketing plan should be developed which analyzes current market conditions and features of the property.
 
CONDITION: The condition of the property affects the price and speed of sale. As prospective buyers often make purchases based on emotion, first impressions are important. Optimizing the physical appearance of your home will maximize the buyer’s perception of value. 

 

Wondering about the value of your home? Let me share my Real Estate expertise with you. GIve me a call today.

 

All you have to do is imagine your future . . . I'll help you find it. 

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Check out the Mount Pleasant art scene Friday, September 25th 6-10pm in a fun, interactive, self guided tour set up for YVR by artist, Jamie Smith of Thrive Art Studio. Jamie has told me that this will be the best Rove yet. If you have never been and you are even a little bit interested in art this is a fun and FREE way to spend a Friday evening in our amazing city. For more information visit the Rove site at http://www.roveyvr.com

 

 

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