Vancouver BC Real Estate
Vancouver is one of the most interesting, diverse, and beautiful cities in the world. It has consistently been ranked the most desirable and livable city by CNN.com and other magazines and websites.
Vancouver has a population of about 600,000, and is located in a region of 2 million people, making it the largest city in the province and the third largest in Canada. Famous for being one of the most cosmopolitan cities in the world, more than 50% of the residents have a first language other than English. Whole sections of Vancouver have been appointed as "Little India" and "Little Italy", and Vancouver's China Town is second largest in North America.
Vancouver Real Estate Articles and Market News
BC Budget Homeowner Changes
The British Columbia introduced the new Provincial budget on March 2, 2010 and it included some minor changes/benefits for homeowners. They are as follows: 1. Rural BC (outside Lower Mainland, Fraser Valley, and Capital Regional Districts) residents get an extra $200 off in addition to the normal homeowners grant for their property taxes. 2. Families with children under the age of 18 can now defer their property taxes. There are some requirements for the tax deferal and you can view them here. What... [Read more]
Vancouver 2010 Olympic wrap up video!
As many of you might have seen on TV, the city of Vancouver has been absolute mayhem during the 16 days of the 2010 Winter Olympics. We’ve been working to prepare for this event for the past 7 years…and despite the controversial glitches in the beginning of the event Canada managed to pull it together and emerged victorious at the final US vs Canada hockey game for the goal medal. We ended up winning 14 gold medals, the most gold medals ever won by the Olympic host country. Several events... [Read more]
Posted 5 Year Rate Confirmed As New Qualifying Rate
It has now been confirmed that the new qualifying rate, effective April 19, 2010, for all CMHC insured mortgages will be as follows: The greater of the chartered bank’s posted 5 year term rate or the contract rate. This will apply to all variable rate mortgages and for fixed rate terms under 5 years. We were all waiting to find out what the new qualifying rate would be ever since the Federal Finance Department announced changes back on February 16, 2010. As of today the qualifying rate would... [Read more]
Pre-Olympic Vancouver Real Estate Market Update
We are days away from opening ceremonies for the 2010 Olympic Games here in Vancouver BC. The city has never looked so beautiful! Within all the buzz and excitement lies a question that Vancouverites and many others around the world are speculating; “What effect will the 2010 Olympic Games have on Vancouver Real Estate?” Now this is a question that no one can answer as no one can predict the future. Opinions are very divided. To be honest, I could personally argue all possibilities. It... [Read more]
First Time Home Buyer Property Transfer Tax (PTT) Exemption
What is Property Transfer Tax (PTT)? For those of you who don’t know, it’s a tax that is payable to the provincial government when acquiring an interest in or purchasing a property, and this is assumed by the buyer. Many first time home buyers are aware but not clear on their rights towards their property transfer tax exemption with their first real estate purchase. I get asked this question on a regular basis, especially from US and US/CDN dual citizens. As a first time home buyer you... [Read more]
Looking for an investment? Check out these villas on the fairway!
Recently I ran into an interesting investment opportunity in Chilliwack, BC, the warmest city in Canada. In Chilliwack rests one of “BC’s best hidden kept secrets”, The Falls Golf & Country Club, home to a breathtaking golf course with expansive views of the hillsides and from Abbotsford to Harrison. There are currently some big development plans underway in the immediate vacinity including a $250 million dollar multi use sports facility and winter club, with what is going... [Read more]
