Dropped by your office on chance you might be there, but no, busy realtors are out working. Johanne and I wanted to say thank you for the expertise and professionalism you provided to us. There are realtors who collect their commission, and there are those who always  go above and beyond. We felt we got the above and beyond. Appreciated, Bob & Johanna Haley  

The trend toward stability that started about April of last year is continuing with a slight increase in sales volume in February to 412 compared to 394 in February of last year while the total number of listings at 3,770 at the end of February while seasonally increasing is still tracking below this time last year when the total was 4,092. Prices appear relatively stable tracking only slightly down in most areas and property types compared to this time last year whereas the average sale price was notably higher for the month due mostly to the sale of a single condo for $5 Million. Our real estate board is very careful about how they depict the market, however, the media often seem successfully dramatize things and put a different spin on things. Also,…

As an extensively recognized and awarded top selling associate and office owner with RE/MAX, the number one real estate company worldwide, now operating in 96 countries, I have had the good fortune to have established a vast network, getting to know the most successful Realtors from all around the globe, exchanging ideas on sales, marketing and world class client service. We also regularly introduce each other to our closest trusted family, friends and clients to ensure they can receive the same high standard of service and care that we would provide if we were able to ourselves. When you are considering buying or selling in any market, anywhere, please call me first. Please allow me the privilege of introducing you to known professional who we can trust…

On December 13, 2011 through order in council, the government of British Columbia created an important new regulation related to depreciation reports, affecting all strata corps in B.C. with at least 5 units or more. There are more than 500,000 strata property owners in BC in about 29,000 strata corps. This new rule required all stratas formed on or before then to either complete a Depreciation Report by Dec. 13, 2013, or to opt out with a 75 per cent or more vote of owners, at either a special general meeting or AGM. Newer strata corporations will have until six months after their newly formed strata's second AGM. In my view this was an excellent move for consumer protection. What exactly is a depreciation report you may ask? Simply stated, a…

Canada Mortgage and Housing Corp. has raised mortgage insurance premiums for the first time since the 1990s, and signaled more hikes could be on the way. The increases, which will apply to policies that are obtained from May 1 onward, amount to about 15 per cent on average. The move was quickly copied by rival mortgage insurer Genworth MI Canada Inc. CMHC executives said the higher premiums would mean an extra $5 a month for a borrower with a 95-per-cent loan-to-value (LTV) ratio and a loan of $248,000. But the increase will be more sizable than that for many people. The move is part of a transformational shift at the Crown corporation, which sits at the centre of the country’s housing market. CMHC is attempting to behave more like a private-sector…

Property Transfer Tax Exemption Level has increased to $475,000 for qualified first time BC Resident buyers and partial exemptions available for more in some cases! The First Time Home Buyers' Program reduces or eliminates the amount of property transfer tax you pay when you purchase your first home. If you qualify for the program, you may be eligible for either a full or partial exemption from the tax. If one or more of the purchasers don’t qualify, only the percentage of interest that the first time home buyer(s) have in the property is eligible. For example, if you qualify and purchase a property with a fair market value of $400,000 with a person that doesn’t qualify you would still qualify. If you owned a 60% interest in the property, 60% of the tax

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Time is running out to claim your rebate! If you substantially renovated your home within the past 2 years, you may qualify for a rebate of a portion of the GST/HST paid on labour and materials. See the Canada Revenue Agency (CRA) web page Substantial renovations, conversions and major additions for more information on this. The same rebate available to new home purchasers is also available to investors on qualifying properties. If you purchased a new or substantially renovated residential  investment property and also leased it you may also qualify for a substantial rebate. Feel free to contact us for assistance!

The federal program to attract wealthy immigrant investors has been scrapped in the new budget after being suspended for about 2 years with a backlog of over 45,000 applications in the system. This will no doubt directly impact the high end price surge experienced primarily in Vancouver and Toronto for the past few years. The popular BC Provincial PNP immigrant investor program targeted at small business operators granting immigration for investment in small qualifying business has NOT been affected at this time. BCREA ECONOMICS NOW Cancellation of the Canadian Investor Immigrant Program - February 13, 2014 In its recently tabled budget, the Federal Government effectively cancelled a program, the Canadian Immigrant Investor Program (IIP), which afforded

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We've just received this photo of the exact school we built with our Change Heroes partners last year in Ngosuani, Kenya. All that's left to be done is some landscaping out front of the school. Over the coming months, local workers and Free The Children volunteers will continue to work on the school and prepare for the first day of class! It’s easy, find out how you can help too at: www.ChangeHeroes.com

Most BC property owners will have received their new updated BCAA Property Valuation and most will notice another decrease from the last year. This notice reflects the value effective last July 1, 2013 and is already 6 months out of date when you receive it. Of course the assessor is generally unaware and your notice does not account for any significant improvements, additions (without permit), mechanical, structural or other problems or deferred maintenance (i.e. leaky roof). Strata issues including Special Assessments (arising with increasing frequency from now legislated depreciation reports) are also not typically accounted for.

If you have not received or are curious about the assessed value of any BC property simply go to e-valueBC. For a

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