new real estate rules protecting home buyers and Sellers

(June 15, 2018, posted in Tips)

New real estate rules took effect today that will change the way REALTORS® and their clients work together.

Specifically, the new rules will prohibit the practice of limited dual agency and require real estate licensees in BC to provide additional information to their clients about how they’re compensated.

The move to single agency is a significant change from the practice over the years when Realto... read more.

how to defer your property taxes?

(June 13, 2018, posted in Tips)

Property taxes are due in early July. If you’re unable to pay your property taxes on your principal residence, you may be eligible for the BC Property Tax Deferment Program.

This is a low-interest loan program that lets qualifying property owners defer part, or all, of their property taxes on their principal residence.

There are two programs:

BC speculation tax

(May 20, 2018, posted in Tips)

The speculation tax is expected to become law in the BC legislature this fall.

"Urban centres throughout the province are in a housing crisis. Rents and home
prices have surged past local incomes and, in many communities, vacancy rates sit
close to 0%.
Speculation has contributed to runaway prices and made it difficult for British
Columbians to find a home they can afford. This is hurting people, busin... read more.

BC speculation tax

(March 27, 2018, posted in Tips)

On Monday, the provincial government announced it is making some changes to the speculation tax, which was first announced last month as part of the budget.

The government expects to introduce legislation in the fall to make the tax part of law and they say 99 per cent of British Columbians will be exempt from paying the tax. The tax will be applied on properties that are not the primary residences... read more.

buyer's, seller's or balanced real estate market?

(March 01, 2018, posted in Tips)

Several factors influence the housing market, including mortgage interest rates, inflation, employment, investment, construction, immigration, government assistance programs, and the health of local and world economies. All of these influence the supply and demand of the market which, in turn, affects prices.

There are three classifications experts use to describe the balance of supply and demand i... read more.