Blogs

Buyer’s market conditions continue in Greater VancouverConditions in the Greater Vancouver housing market continued tofavour buyers in August. Since April, prices have edged down slightly as the number of sales and the number of properties coming on to the market have been declining.The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Gre ...

Top 21 grants and rebates for property buyers and owners1 Home Buyers’ Plan Qualifying home buyerscan 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 pro- gram a second time.Canada Revenue Agency www.cra.gc.ca. Enter ‘Home Buyers’ Plan’ in the search box. 1.800.959.82872 GST Reba ...

CO-OWNERSHIP VERSUS CONDOMINUMSBy Martin K. I. RumackCondominiums and Co-ownerships are legal structures that define both the exclusive rights and the shared rights of individuals who purchase a unit/percentage interest in buildings created as one of these types of legal entity.IMPORTANT FEATURES OF CONDOMINIUMS AND CO-OWNERSHIPS FOR THE PURCHASERCO-OWNERSHIPPurchaser acquires ownership of a ...

Golden City Rental A Look at what is Under Construction in VancouverVancouver has garnered the reputation of a city that is always under construction. During the past decade the construction crane has become a permanent fixture on the Vancouver skyline, a symbol of a decade of prosperity and economic expansion. Despite the economic uncertainty of the last few years, there are still a number o ...

Home sales activity in Greater Vancouver was quieter last month than most Julys over the past decade, with residential sales, prices, and the number of homes listed for sale trending downward in recent months.The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totalled 2,255 in July 2010. This represents a 45.2 per cent ...

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 2,972 in June 2010, a decline of 30.2 per cent compared to the 4,259 sales in June 2009, which was the second highest selling June on record.“Activity in June marked a healthy balance between the near record setting pace of June 2009 and the considerably slower activity wit ...

Residential home sales are down substantially in May from the same month a year ago, with Victoria and Metro Vancouver showing the sharpest drop, according to a survey released Monday by the B.C. Real Estate Association (BCREA).Despite that, Victoria and Metro Vancouver have also seen some of the highest price increases over the 12-month period, although that trend is not expected to last."We ...

 Bank of Canada Raises Key Interest Rate Today The Bank of Canada raised its key interest rate by a quarter point today, and most lending institutions are expected to respond by increasing their prime lending rates by a quarter point.  This marks the first rate increase by the Bank since 2007.   In its statement the Bank noted that “the economy grew by a robust 6.1 per cent in the firs ...

Bank of Canada Holds Key Rate Steady   The Bank of Canada announced this morning that it is leaving its key interest rate unchanged, but signaled that it might begin raising interest rates in the coming months.   The Bank stated that with recent improvements in the economic outlook, the need for extraordinary policies such as its commitment to keep its key target rate at the l ...

March 10...Getting ready for rising rates: our Top TipsIt’s been a great ride. The past few decades have been an enormous boon to homeowners – who benefited from historically low lending rates and a stellar rise in the values of their homes. Even now, there are no dire predictions of housing market chaos. But when the Bank of Canada told us that rates could rise later in 2010, it seemed like ...