Response to Premier Clark from REBGV, re: Assignments

March 22nd, 2016

REBGV President Darcy McLeod sent the following letter to Premier Christy Clark in response to her announcement about new rules for assignments:

Dear Premier Clark,

On behalf of the more than 12,500 Realtors that we represent, I am writing to express concern at your decision to pre-empt the Real Estate Council’s independent advisory group’s review and introduce new rules on assignment agree ...

British Columbia has a bright future!

March 21st, 2016
BCREA Economist, Brendon Ogmundson comments in Febuary, 2016,"that the BC economic outlook is much brighter than many parts of Canada, in fact, a host of indicators point to significant momentum underlying our provincial economy. In 2015, a key indicator for the single largest component of the provincial economy – consumer spending and retail sales – grew at the fastest pace in close to a dec ...

2 Great Tips for Beginner Investors of Real Estate

March 21st, 2016

Here are 2 great tips if you are thinking of becoming an Investor in the Real Estate Market:

1. Think about future expectations and ask an accounting expert for advise:

  • Are you looking for a rental property with positive cash flow?
  • How long do you want to hold the investment property?
  • What is your expected return on your investment?

Banks in Canada typically require 35% downpayment on ...

When could GST be payable on a Resale?

March 15th, 2016
Do I have to pay GST on a re-sale unit that has never been occupied? Most people don’t know this, but if the unit has been left unoccupied, it is still considered new upon resale of the unit. The federal government considers this transaction a transfer of unoccupied inventory from one developer to another, so GST would be payable upon the resale transaction. So if you are writing an offer on ...

Over 2100 Home Foreclosures in Alberta

March 8th, 2016
It's very sad to hear that over 2100 home foreclosures are now located across Alberta, according to the registry at the Court of Queens Bench of Alberta. In 2015, Calgary foreclosures reached 839 units and was the city with the highest number of foreclosures in the Province. The homes foreclosed on range from $94,500 to $1.5 million. We hope the oil and gas industry turns around soon for our ...

Is Vancouver Real Estate a Bargain Buy?

March 7th, 2016
Sometimes it helps to see the global perspective to understand how Vancouver home costs stack up in the international real estate investing market. I'm sure most of you will be surprised to know that Vancouver currently ranks 10th in the international residential price per square foot cost list. Prices per square foot in Canadian Dollars are for these top 10 Cities: Monaco $9,000, Hong Kong $ ...