real estate

A Big Thank To My Online Marketing Partner: Delphine Zhu

I have been knowing Delphine for a long time. She started to promote this website since Fall 2009.  Since then I got many potential clients emailing and calling me for their real estate needs. Delphine Zhu and her team has been doing very professional jobs. I am very happy to have them as my online marketing consultant. I highly recommend them to all local professionals here in Vancouver BC.

real estate

House Construction Up 5.9 per cent in December

According to the latest real estate market news released by Ottawa: House construction rose more than expected in December as Canada’s real estate market continued to show signs of recovery.

Canada Mortgage and Housing Corp. said Monday the number of seasonally adjusted housing starts were up 5.9 per cent from November, to 174,500 units. Most economists had expected an increase of between 160,000 and 165,000 units in December, following an upwardly revised 164,800 starts the previous month.

According to CMHC data, urban starts were up 6.6 per cent to 157,100 units in December, CMHC said in its report. Multiple-unit starts totalled 77,700 during the month, up from 72,800 units in November, while single-unit starts totalled 79,400, up 6.4 per cent from the previous month.

Urban construction was up 17.8 per cent in Quebec, 15 per cent in Atlantic Canada, 8.7 per cent in British Columbia and 2.9 per cent in Ontario, the report said. In the Prairies, urban starts declined 3.8 per cent.

Rural starts were unchanged at 17,400 units.

The Bank of Canada may shed further light on whether that strength has pushed Canada into a housing bubble when one of the governor’s advisers talks about the real estate sector in a speech Monday afternoon in Edmonton.

Meanwhile, Statistics Canada said Monday the value of building permits fell in November by 4.6 per cent from the previous month to $5.9 billion. Still, that was 23.1 per cent higher than November 2008 and 62.8 per cent higher than February 2009. The decline was due to a drop in the non-residential market, which offset increases in the residential real estate market.

real estate

Why BC Luxury Real Estate Appeals To Investors (Part Two)

Yet, despite the small share in total residential sales, the luxury real estate market boasts properties with the highest price tag in the country. The high price of the luxury real estate in British Columbia is usually associated with a particular lifestyle or recreational appeal. In this sense, British Columbia boasts many natural beauties and the vast oceanfront access to the Pacific. This has made the province highly attractive to homebuyers and property investors seeking lifestyle-associated leisure properties. Most demanded have been oceanfront or lakefront properties and condominiums with a view and access to the waterfront. Kelowna, which is located on the Okanagan Lake, has been attractive for its recreational and tourism appeal.

In the Greater Vancouver area, the most exclusive locations include Point Grey, UBC, Point Grey Road, Shaughnessy, West Vancouver’s Altamont, Dundarave, and British Properties (with upscale panoramic ocean and city views), and the waterfront. The most prestigious neighbourhoods in White Rock-South Surrey include Morgan Creek and Elgin/Chantrell. In Victoria, buyers seeking retirement or lifestyle properties are attracted to Esquimalt, Victoria West or Victoria Proper, where many properties offer a mix of exclusive, upscale waterfront units. Also popular are Oak Bay, Cordova Bay, Fairfield and Ten Mile Point. In Kelowna, lakefront properties carry the highest price tag. The most popular upscale neighbourhoods include Upper Mission, Lower Mission, Lakeview Heights, and Carr’s Landing.

real estate

3002-1281 W. Cordova St, Vancouver (Sold)

Stunning luxury home at “Callisto”, designer’s masterpiece. Sold @ 3,300,000 – Spring, 2008

Callisto — luxury residence in this award-winning developemnt in Vancouver Downtown Coal harbour. Completely redesigned by renowned interior designer Bobert ledingham. This is a 2bedroom + den, 1964SQF apartment, located on the most sought after waterfront side with floor to ceiling curved windows & fantastic views of the Coal Harbour Marina, Stanley Park to the Northshore mountains.

real estate

4183 W 11th Ave, Vancouver (Sold)

new Point Grey house Sold @ 1,695,000 — Feb, 2009

Point Grey, brand new home crafted and designed by European builder. Fully landscaped yard featuring brick & stone walkways. Large open foyer leads to living room with warm stone feature fireplace & formal dining room. Dream kitchen is a Chef’s delight with Viking stainless steel, gas stove, large center island & fantastic size eating area. Entertaining size family room with second warm stone feature fireplace with French door level to brick patio and backyard. Upstairs are 3 bedrooms. Upper loft (office or 4th bedroom) with private rooftop deck with dramatic views of the water, city & mountains.

(2414 SQF house on 4026SQF lot. Double Garage)

real estate

3955 W 12th Ave, Vancouver (Sold)

Wonderful custom built VIEW house sold @ $2,900,000 – March, 2009

Custom built Point Grey view home on 47 X122 foot lot…The quality, the layout and the views are truly spectacular. The roof deck makes you feel like you are on top of the world… complete with hot tub and outdoor kitchen. Top floor features 3(or 4) spacious bedrooms with massive walk-in closet and spaensuite bathroom. Main floor has good flow and spacious principal rooms including a gourmet kitchen with family room. Lower lever included nanny quarters, guest bedroom plus a rec room ideal for kids.

real estate

Tax Issue with Non-Residents of Canada To Sell Real Estate Vancouver

As I deal routinely with non-resident investors wanting to sell Canadian real estate assets, I would like to shed some light on this otherwise somewhat arcane subject. DISCLAIMER: please note that the following essay is presented solely for general information purposes, it is not intended to be legal advice or purported to be as such, it may or may not apply to your particular situation and that I strongly recommend – in fact I urge you – to discuss this topic in-depth further with your lawyer, notary, conveyance or accountant – and not necessarily in this sequence – if a need there be.

If you are a non-resident involved in the selling of Canadian real estate assets that you own, you should be aware of the applicable provisions of the Income Tax Act to avoid problems when the time comes for the sale to complete.In brief, if taxes are owing to the Canada Customs and Revenue Agency (Revenue Canada) by a property owner, the property can be charged to secure payment of outstanding taxes. This applies to both residents and non-residents. What, however, specifically applies in the case of non-residents selling Canadian real estate is that the property may be charged even after being transferred to the new owner.

In order to be protected and pursuant to the requirement of the Income Tax Act, the Buyer must make a ‘reasonable inquiry’ as to the Seller’s residency status.

Thus the need for indicating ‘Resident of Canada/Non- Resident of Canada’ under the Sellers information in the top left section of the Contract of Purchase and Sale. The Buyer’s notary or lawyer will make a similar inquiry of the Seller when the convyancing documents are signed. If the Seller is a non-resident of Canada, he must apply for and obtain a Clearance Certificate from Revenue Canada and provide the Buyer with this Certificate. It normally takes four to six weeks for Revenue Canada to issue a Clearance Certificate. If a Clearance Certificate is not provided to the Buyer or his conveyancing representative, then the Buyer must hold back one-third of the sale price until the Certificate is provided. If the Certificate, furthermore, is not forthcoming the holdback money is then remitted to Revenue Canada and the Buyer – and the newly acquired property – are protected from any further liability or charge.
A problem, moreover, may arise at the time of completion if,

for instance, the existing mortgage exceeds two-thirds of the sale price and there are therefore no sufficient proceeds to allow for the holdback and clear title, not to mention payment of closing costs. So therefore, if you are (or will be at the time of completion) a non-resident Seller be sure to raise this issue before the property is sold and there is still time to obtain the required Clearance Certificate. Likewise, if you are the Buyer and you learn that the Seller is a non-resident, be sure there is ample time before completion and possession.

Feel free to inquire about the latest information of selling real estate in Vancouver Canada.

real estate

Fees Associated With Buying or Selling Real Estate in Vancouver

Especially to the real estate first time buyer, it is very important to get familiar with all the fees related to buy and/or sell real estate in Vancouver, BC. (sorry, I speak Chinese in this video.)

real estate

Welcome to Angelhome Vancouver Real Estate Blog

Hi there, I am so happy to meet you on my real estate blog! (Sorry, I only speak Chinese Mandarin in this video.)

Feel free to comment on this video and share it to your friends and families.

real estate

201-3088 West 41 St Ave., Vancouver

(Sold in September 2009)

Popular Lanesborough Building by Polygon! This charming 1 bedroom + solarium + den (886 SQF) home offers gracious living in Kerrisdale. Excellent open plan features gourmet kitchen with granite countertop, spacious solarium and den (can be used as second bedroom, home office, etc), and bright living room with a beautiful tree outlook. Quality throughout. In floor hot water radiant heat, crown mouldings, gas fireplace, large walk-in closet, security system, new roof, new flooring, and 2-5-10 year warrant in effect. Adult oriented building (Age: 45+)& pet friendly. Best suites under 500K in this area.

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