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Top 25 Real Estate Agents in Vancouver West,Downtown Vancouver and West Vancouver. Buy & Sell residential homes, property management, pre-sale and more.

The Facts About Multifamily Residential Presales

Posted by on Dec 21, 2011 in Blog

Over the years, thousands of British Columbians have entered into contracts to buy new homes before the construction of their homes had begun or during the construction period. This type of real estate transaction is commonly referred to as a presale transaction. It most often involves the buyer of a new home and the developer entering into a purchase agreement to complete the transaction at a future date when the home is completed and ready for occupancy. This is usually a win-win transaction for both the homebuyer and the developer. Buyers are able to select the homes they want to buy and developers know, with some certainty, their ability to successfully market and finance the projects they are offering to the market. Rewards Usually Outweigh Risks Buying a home is likely the largest personal financial transaction a consumer will...

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Top 25 Grants and Rebates for Property Buyers and Owners

Posted by on Dec 18, 2011 in Blog

#1 Home Buyers’ Plan Qualifying home buyers can withdraw up to $25,000 (couples can withdraw up to $50,000) from their RRSPs for a down payment. Home buyers who have repaid their RRSP may be eligible to use the program a second time. Canada Revenue Agency www.cra.gc.ca. Enter ‘Home Buyers’ Plan’ in the search box. 1.800.959.8287 #2 GST Rebate on New Homes New home buyers can apply for a rebate of the federal portion of the HST (the 5% GST) if the purchase price is less than $350,000. The rebate is up to 36% of the GST to a maximum rebate of $6,300. There is a proportional GST rebate for new homes costing between $350,000 and $450,000. Canada Revenue Agency www.cra-arc.gc.ca. Enter ‘RC4028’ in the search box. 1.800.959.8287 #3 BC New Housing Rebate (HST) Buyers of new or substantially renovated...

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HST Stall Hurts Housing Industry in BC

Posted by on Nov 30, 2011 in Blog

Since the implementation of the HST in British Columbia in 2010, the provincial housing market has been reportedly in a slump. This has been especially true in Vancouver and area as new builds are sitting vacant longer than expected.According to recent reports, construction companies are resorting to making deals with potential buyers, offering to pay a portion of the HST that is being added to properties costing more than $525,000. While this is helping to persuade new home buyers, the builders and developers are ultimately losing money.Construction companies are frustrated that the BC government is taking its time to reinstate the PST/GST system and are leery of the new PST rules that will come into effect in 2013 with the exit of the HST system. Currently the 12 per cent HST is applied to new homes that cost more...

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Good News for Homeowners-No Interest Rate Increase until 2013

Posted by on Nov 9, 2011 in Blog

That’s good news for homeowners with variable-rate mortgages and consumers financing loans and lines of credit tied to the prime rate. A big Canadian bank predicts the slumping economy will put interest rates on hold, or moving lower, until at least until 2013. In an interest rate outlook released Tuesday, the Bank of Montreal said it does not expect interest rates to rise again until the early part of 2013. That’s about six months later than earlier forecasts that rates would stay flat until the fall of 2012 as the Bank of Canada tries to boost the sagging economy.In the bank’s report, BMO Capital Markets senior economist Michael Gregory said the weaker global economy has squeezed commodities, the Canadian dollar and undermined growth in Canada.That has kept inflation in check and made it more likely the Bank of Canada...

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House Values Skyrocket in Vancouver Westside’s Cambie Corridor

Posted by on Nov 6, 2011 in Blog

Six months after Vancouver City Council approved a plan to transform the Cambie Street corridor, homes in the area have nearly tripled in value and some residents fear development will ruin the neighbourhood.Last May the council passed a plan to bring 15,000 more people into the Cambie Street corridor through mid-rise development.Then last month a block of 10 homes along Cambie Street near 41st Avenue sold for $3.4 million each — nearly three times their previously assessed value.Neighbours say they’re growing tired of being pressured to sell by developers and real estate agents.Janice Douglas says she expects a six-storey building will soon be overlooking her single family home.”We’ve got people looking in our back yard, looking in our bedroom, and we will never see the trees again — nor will we have any more sunshine,” Many residents don’t want...

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