VANCOUVER — July housing starts that showed an easing from earlier levels is another sign that British Columbia’s real estate markets are in transition from the post-recession rebound to something more subdued. B.C. saw builders started work on 1,817 new homes in July, down 13 per cent from June, Canada Mortgage and Housing reported Tuesday, with starts of single-family homes showi ...

August Market Update (click for full version) For those of you thinking about selling, it is important to realize how vital the Art of Pricing is to the sale of your home. All sellers want the highest price possible for their homes, but the strategies to get there are not always intuitive. In certain circumstances, pricing low can be more effective than pricing high, while in other ...

The Federal Government First Time Home Buyer's Tax Credit is still in effect for 2010.  This is a non-refundable tax credit for qualifying first time home buyers who are purchasing their primary residence after January 27, 2009.The maximum amount of credit is $750.  For more detailed information on qualifying for this tax credit, visit:http://www.cra-arc.gc.ca/gncy/bdgt/2009/fqhbtc-eng.html ...

May Market Update:
http://www.macrealty.com/macnews/newsletter.aspx?agent=marites_pineda

This morning, Federal Finance Minister Jim Flaherty announced prudent changes to mortgage insurance rules intended to come into force on April 19, 2010. CAAMP was actively engaged in the discussions around these changes which are as follows: All borrowers must meet the standards for a five-year fixed rate mortgage even if they choose a mortga ...

February Market Update Despite the recession, BC's luxury home market remained strong in 2009. Based on the Greater Vancouver Real Estate Board MLS stats, 31 homes priced over $5 million sold in 2009 versus 25 that sold in 2008. What's more remarkable is that none of these sales occurred in the first 1/3 of the year, when the world's financial markets were seemingly in freefall. Take t ...

Diverse selection and favourable interest rates continue to drive demand in the Greater Vancouver housing market. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 1,923 in January 2010, an increase of 152.4 per cent compared to January 2009 when 762 sales were recorded and a 23.5 per cent decline compared to the 2,51 ...

Rental Restrictions no more!  Well, not exactly.... here's the latest update regarding the Strata Property Act (SPA) provided by Spagnuolo & Company: There has been a shortage of rental units for years in British Columbia. In order to address this, the Provincial Government recently passed legislation dealing with the rental provisions of the Strata Property Act ("SPA").   Under the ...

Traditionally, the winter months lead to a slow-down in the industry. BUT... every situation is different. Well, it seems as though 2009 may be different. Sales in October were up 41.5% year-over-year across Canada as low interest rates and greater consumer confidence spurned higher home sales. Prices across Canada have also increased year-over-year to an average of $341,079, up 20.7% ...

  BC's HST and Real Estate By Clark Wilson LLP's Commercial Real Estate Group July 28, 2009 On July 23, 2009, the B.C. government announced that it has reached an agreement with the federal government to combine the 7% B.C. PST with the 5% GST to create a single harmonized sales tax (HST). The new tax will come into effect on July 1, 2010. This article focuses on the effect of the HST on t ...