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  • Home buyer demand increases across Greater Vancouver housing market

    An increase in home buyer demand put Greater Vancouver in the upper reaches of a balanced real estate market in May. [edit] “Our MLS® statistics tell us that there’s more home buyer demand today than at any point over the last three years,” Ray Harris, REBGV president said. “With sales surpassing the 3,000 mark in May ...
    Posted to The Powerhouse Blog (Weblog) by 876747 on June 3, 2014
  • BC assessment and REALTOR® assessment. Why the difference?

    The BC assessment we recieve in the mail each year can sometimes be much different from the value your REALTOR® will provide to you. Why? I've met a lot of homeowners asking me why my assessment may be under what the government has assessed their property at. But more often than not, I'm asked by my buyer why our offer should ...
    Posted to The Powerhouse Blog (Weblog) by 876747 on February 24, 2014
  • What's the average price for a lot in Vancouver West side?

     As most people have received their tax assessment for their home, this is a perfect time to check out the average prices for a lot.  Today I only had the chance to run the sales for Vancouver West side since that's the market everyone always seems to talk about! This list shows how much the average price for a 33 and 50 foot ...
    Posted to The Powerhouse Blog (Weblog) by 876747 on February 4, 2014
  • Spring 2014 will be one of the busiest for available real estate inventory

    Market Summary The market had slowed down over the winter break, which is normal for that time of year.  January's supply is sitting around 9.1 months, which is considered a buyers' market. While the sales are low for the start of the year, current inventory levels are very low and many buyers are having a hard time finding ...
    Posted to The Powerhouse Blog (Weblog) by 876747 on February 4, 2014
  • Selling your incorporated business? Save up to $200,000 with the Lifetime Capital Gains Exemption

    The 2013 Federal Budget proposes to increase the LCGE amount to $800,000 for the 2014 tax year, and index the LCGE to inflation for tax years after 2014.  The new limit will be applicable to qualified property of all individuals, even if the LCGE has been previously claimed. This new limit will apply to dispositions in 2014 of ...
    Posted to The Powerhouse Blog (Weblog) by 876747 on November 15, 2013
  • Short sales in British Columbia

    Sellers often assume that the sale price of their home will be enough to pay out the costs and financial obligations associated with the sale, but that’s not always the case, especially in a slow real estate market. A “short sale” occurs when the amount outstanding under a seller’s mortgage, along with other payout ...
    Posted to The Powerhouse Blog (Weblog) by 876747 on August 26, 2013
  • How Homebuyers are Protected by 2-5-10 Warranty Insurance

    If you’re in the market for a newer home, you’ll likely be protected by home warranty insurance – or what is commonly referred to as 2-5-10 coverage. With a few exemptions, all new homes in B.C. offered for sale or under a construction contract with an owner are covered by this warranty.  The “2-5-10” refers to ...
    Posted to The Powerhouse Blog (Weblog) by 876747 on August 23, 2013
  • Info for non-residents looking to purchase or sell real estate in Canada

    There are no restrictions for a non-residents to purchase property in Canada and there are no tax implications that other residents don't also pay.  But tax issues may arise on the holding of property by non-residents.  Non-residents of Canada are subject to tax on income paid to them such as rental income.  A tax return must ...
    Posted to The Powerhouse Blog (Weblog) by 876747 on August 15, 2013
  • Underground oil tanks facts

    Throughout the Lower Mainland aging underground or aboveground storage tanks are potentially corroding and leaking toxic materials into the soil. In worst case scenarios, the contamination extends to neighbouring properties and the groundwater system. These tanks, used until the 1960s when natural gas became readily available, were never ...
    Posted to The Powerhouse Blog (Weblog) by 876747 on July 22, 2013
  • 9 Ways to reduce the chances of flood damage

    Many residents and businesses in the Lower Mainland are located in a floodplain - close to or beside local rivers, creeks, or coastlines.   Reduce the chances of flood damage by:   1. Reading material about flood reduction supplied by the local municipality. 2. Walking around the home after heavy rainfall to see ...
    Posted to The Powerhouse Blog (Weblog) by 876747 on June 26, 2013