Should I Build Or Should I Buy A Home?

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If you are in the market for a new home, you may have considered building from scratch instead of buying a resale home. While the decision isn’t always simple or obvious, each option has its pros and cons. Building a new home – advantages Control over details You can personalize the details of your home […]

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Here Are Some Great Ideas On Buying A Home, For First Time Home Buyers

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Owning a home is a dream and a goal for most of us. But today’s first time homebuyers face numerous challenges in the form of higher prices and government regulation, which makes this dream more difficult and out of reach for some. So as a potential first time homebuyer, you have to change the way […]

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Fixed Rate Mortgages Are Now More Sought After Than Variable Rate Mortgages

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According to most mortgage brokers today, fixed rate mortgages are outnumbering variable rate mortgages. Until a few years ago, variable rate mortgages were the savvy homeowner’s go to choice, where the homeowner typically paid a lower interest rate for a variable rate compared with a fixed rate, and the borrowing costs would adjust when the […]

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2019 Water Restrictions Back In Effect For Metro Vancouver

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Yes. It’s that time of the year again. Metro Vancouver’s 2019 annual lawn watering regulations came into effect recently. In case we get a long, hot and dry summer, these restrictions will ensure that our drinking water supply will be adequate to see us through this period. We are currently in Stage One of Metro’s […]

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REBGV Market Update For March 2019 – Potential Homebuyers Sidelined For The Short-Term.

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The highlight of the March 2019 market report released by the Real Estate Board of Greater Vancouver (REBGV), showed that prospective buyers remain on the sidelines in March. “Housing demand today isn’t aligning with our growing economy and low unemployment rates. The market trends we’re seeing are largely policy induced,” Ashley Smith, REBGV president said. […]

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The 2019 Federal Budget – Making Home Ownership More Possible.

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The 2019 Budget that the Liberal government has recently put forth allows more middle income Canadians fulfill their homeownership dream, by helping them lower their mortgage costs. Specifically, it is implementing 3 measures: CMHC First-Time Home Buyer Incentive Eligible buyers will be offered a 10-per-cent, shared equity mortgage for a new home or five per […]

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REBGV Market Update February 2019 – Increased Supply From Home Sellers And Below Average Demand From Home Buyers

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The Real Estate Board of Greater Vancouver (REBGV) released its February 2019 housing report, and it clearly showed that homebuyers appear to be the ones with power in the current market. Phil Moore, the President of the REBGV said “For much of the past four years, we’ve been in a sellers’ market. Conditions have shifted […]

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Luxury Home Sales And Prices Have Plummeted. Is It Time To Buy?

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The Foreign buyers tax, Mortgage stress test and incremental mortgage hikes have severely impacted the Vancouver real estate market in the past 2 years. The luxury home market has been hit the hardest:  In 2017 there were 4,282 homes that sold over $1 million – in 2018 only 3,151 units were sold – a drop […]

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Why Is Title Insurance So Important?

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When you purchase a home, the title of the property passes on to you the new homeowner.  Your property’s title provides the legal proof that you are the rightful owner. So when you purchase title insurance, you are protected against a number of risks and challenges that are related to the title of your home. […]

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Here Are Some Important Facts To Know About The Principal Residence Exemption When You Sell Your Home.

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  If you sell your home and it is designated as your principal residence, then you have the ability to claim the principal residence exemption (PRE) on the sale. The PRE is probably one of the most valuable tax breaks available to Canadian homeowners, as it provides them with an exemption from tax on the […]

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BC Government Launches New Condo Registry To Prevent Condo Flippers From Evading Taxes.

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Keeping in line with one of its election pledges to create transparency and prevent tax evasion in BC’s real estate industry, the BC government recently launched the “Condo and Strata Assignment Integrity Registrar”, which will scrutinize condo sales more closely. Beginning January 1, 2019, developers who sell strata lots in development properties are required to: […]

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REBGV Market Update For October 2018 – Buyers Have More Selection and Sellers Face Stiffer Competition

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The underlying theme of the October 2018 market report released by the Real Estate Board of Greater Vancouver (REBGV), was that home sales remained below long-term historical averages “The supply of homes for sale today is beginning to return to levels that we haven’t seen in our market in about four years,” Phil Moore, REBGV […]

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How To Be A Responsible Short Term Rental Operator

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A short-term rental is a stay in your principal residence for less than 30 days where you receive mail. If the property is a rental, then the strata bylaws must allow short-term rentals. If the property is a rental, then the landlord’s permission must be obtained. A business license must be obtained if you want […]

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Now Is A Great Opportunity To Take Advantage Of The Softer Market And Invest In Real Estate.

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Investing in real estate is an alternative to investing in the stock market. We are in a buyers market with the number of available listings at all time highs. Now is a great opportunity to take advantage of this situation as prices will eventually start to rise, and you may miss out on a fabulous […]

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Real Tips On How To Save Money On Your Energy Bills This Winter

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Nowadays, the price of pretty much everything is going up, including energy. While the cost of heating your home may be steadily rising, you are in a position to control how much energy you use, thereby reducing the pain in your wallet. Below are some tips to help reduce your costs while improving the comfort […]

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Can Home Sellers Back Out Of A Deal To Sell Their Home?

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Purchasing and selling a home is a very emotional process. Normally one hears of buyers backing out of real estate contracts, but there are situations when the seller can and will back out of a sale. Why would a seller back out? A Lack of a suitable home to move into. This arises when the […]

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REBGV Market Update For August 2018 – Housing Market Calmer.

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All housing types are continuing to see reduced demand as was made clear in the August 2018 market report released by the Real Estate Board of Greater Vancouver (REBGV). August 2018 sales were 25% below the 10 year August sales average. “Home buyers have been less active in recent months and we’re beginning to see […]

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REBGV Market Update For June 2018 – Supply Of Homes For Sale Reached A 3 Year High

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The highlight of the June 2018 market report released by the Real Estate Board of Greater Vancouver (REBGV), showed that home sales dipped below long term historic averages, and supply reached a 3 year high. “Buyers are less active today. This is allowing the supply of homes for sale to accumulate to levels we haven’t […]

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How US President Trump’s Steel Tariffs Can Have Dire Consequences For The Canadian Construction Industry.

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The temporary reprieve we wrote about in March was just that – a temporary reprieve. (read our blog “The Steel Tariffs: We Have A Temporary Reprieve, But Will Trump’s Proposed Tariffs Affect Canadian Real Estate?” ) Last month the unthinkable did happen when US President Donald Trump slapped tariffs on some $20 billion worth of Canadian […]

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Real Burglars and Home Invaders Sharing Their Secrets On Where They Strike and How You Can Avoid Becoming A Target.

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When it comes to securing our homes we all think we are doing the right thing by buying expensive alarm systems, installing security cameras, putting our lights on timers, etc. But does any of that really scare the burglars away? Not really, according to a ground breaking survey done on convicted burglars and home invaders […]

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REBGV Market Update For April 2018 – Fewer Home Buyers And More Sellers.

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The April 2018 market report released by the Real Estate Board of Greater Vancouver (REBGV) noted that market conditions are changing, whereby home sales declined and seller activity increased. “Market conditions are changing. Home sales declined in our region last month to a 17 year April low and home sellers have become more active than […]

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10 Reasons Why You Should Use A Realtor When Purchasing A Pre-Sale Deal

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Buying a condo through a “presale deal’ is when you make an initial lump sum payment for the right to receive a finished unit at the end of the deal.  It is a popular practice especially in the Lower Mainland, where there a number of condo projects currently under construction. Some huge advantages to buying […]

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The Steel Tariffs: We Have A Temporary Reprieve, But Will Trump’s Proposed Tariffs Affect Canadian Real Estate?

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Last week, US President Donald Trump announced plans to impose a 25% tariff on steel imports and a 10% tariff on aluminum, in a bid to boost domestic production and add new jobs. Yesterday we got some relief as the proposed tariffs for Canada have been shelved for the time being. But, if the tariffs […]

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REBGV Market Report For February 2018 – A Weak February Overall.

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According to the Real Estate Board of Greater Vancouver (REBGV) report for February 2018, condo prices rose as inventory failed to keep up with demand, but single-family homes continued to be in a buyer’s market. Despite the condo market’s strong performance, the statistics show that it was a weak February overall, as new mortgage qualification rules, rising […]

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REBGV Market Report For January 2018 – Condos and Townhomes Were Still In Demand. Detached Homes Lacked Buyers.

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The Real Estate Board of Greater Vancouver (REBGV) report for January 2018 was released early this month. Townhomes and condos continued to dominate the real estate market  – a trend that has carried forward from 2017. Detached homes, on the other hand, faced less competition. “Demand remains elevated and listings scarce in the attached and […]

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REBGV Market Update For November 2017 – We Are Continuing To Experience Above-Average Demand And Below-Average Supply

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The latest Real Estate Board of Greater Vancouver (REGBV) report on the November 2017 real estate market, showed modest home listing changes and steady demand. Jill Oudil, the current REGBV President remarked, “ We’re seeing steady demand in today’s market. Home buyer activity is operating above our long-term averages, particularly in our townhome and condominium […]

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A Year After the Foreign Home Buyers Tax – It’s a Great Time To Buy A Luxury Home.

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It’s been just over 1 year since the Provincial government introduced the 15% foreign homebuyers tax to cool the then ultra hot Vancouver real estate market. Since the implementation of the tax in August 2016, Metro Vancouver sales have dropped 44%, and the 3 most popular markets for foreign buyers – West Vancouver, Richmond and […]

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