empty house tax?

(June 19, 2017, posted in Tips)

Beginning in December 2017, all owners of residential property in Vancouver will have to make a property status declaration for the 2017 calendar year, to determine if they will be subject to the Empty Homes Tax.

If a residence was empty or under-utilized in 2017, according to the Vancouver Vacancy Tax Bylaw, the owners must pay a tax of 1% of the assessed value of the property, unless they qualify... read more.

supply not keeping pace with demand

(June 13, 2017, posted in BC Market Update)

The British Columbia Real Estate Association (BCREA) reports that a total of 12,402 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in May, down 7.9 per cent from the same period last year. Total sales dollar volume was $9.33 billion, down 4.0 per cent from May 2017. The average MLS® residential price in the province was $752,536, a 4.2 per cent increase from the same... read more.

understanding our market

(June 12, 2017, posted in Metro Vancouver Market)

The housing market returned to near record levels in May.  To understand what's going on let's look at four key indicators:
  1. Sales
  2. Listings
  3. Prices and
  4. Sales-To-Active Listings Ratio

The first is home sales.  REALTORS registered 4, 364 sales on MLS last month.  This down 8 1/2% from our record breaking 'May' last year but still stands as the third highest May on record.

The second key indicator is home list... read more.

condominium market uptick

(June 11, 2017, posted in North Vancouver Strata)

Take a look at the past month North Vancouver condominium activity.  Click here!

low inventory levels define market

(June 10, 2017, posted in West Vancouver Strata)

Check last month to this months WV Apartment stats!  Click here.