The government has changed the income tax requirements for selling your principal residence. Click here for some details, but we recommend talking to your accountant for an overview of the changes and potential implications.
News
March 14, 2017
First Time Buyers' Program Threshold Increases $25,000
The Greater Vancouver Real Estate Board, together with the BC Real Estate Association, has been lobbying the government for years to increase the First Time Buyers' Program threshold, as it's difficult to purchase a home under $475,000 in Greater Vancouver. They asked the government to increase the resale price threshold …
View MoreFeb. 10, 2017
First Time Home Buyer Event
You and your friends are invited to our free Event for First Time Home Buyers!
Learn how to take advantage of the New BC Housing 2nd Mortgage Program and other tips to help buy your first home! Guest speakers include:
- Jerry & Stephen Jackman - Verico Pacific …
Feb. 5, 2017
Alan & Lori Go Above and Beyond for their Clients!
We recently had the pleasure of helping Helen & Jasper sell their River District, Vancouver, BC home in 7 days for a great price, and purchase a new home. When purchasing their home, they were competing with four other buyers, and using our proven strategies, we were able …
Feb. 3, 2017
Mortgage Insurance Gets More Expensive
In another ‘effort' to make housing more ‘affordable' for Canadians, CMHC raised their mortgage insurance premiums on January 17th, 2017.
These new premiums are seen as a direct consequence of the regulatory changes implemented by the federal government in October 2016. In their press release, CMHC advises that it …
Feb. 1, 2017
Foreign Home Buyer Tax – May be Lifted for People with Work Permits
The B.C. Government announced that the Foreign Home Buyer Tax may change so it does not apply to people with work permits. No news yet if and when this may apply.
Please contact us if you have any questions.
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News
Jan. 9, 2017
2017 Property Taxes Increase up to 43%
Property taxes in the Lower Mainland have increased by as much as 43% for 2017. According to Landcor Data Corporation, condos have increased between 12-33%, attached between 27-36%, and detached homes between 31-43%.
BC Assessments are based on property sales during last summer, so they aren’t always …
Dec. 20, 2016
New First-Time Buyer Home Downpayment Loan Program
As you’ve probably heard, the BC Government will lend first-time homebuyers up to 5% of the purchase price to use as a downpayment to a maximum of $37,500.
There are many details still to be clarified - below is our understanding of the new regulations. However, we’re not …
Nov. 15, 2016
Vancouver's Empty Home Tax
Due to low vacancy rates, the City of Oct. 18, 2016
Big Changes to Mortgage Requirements: How They Will Affect You
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"Alan and Lori really kicked into high gear and they completely outshone all other REALTORS®! Not only were we truly impressed with how hard they worked, how knowledgeable and thorough they were, how highly they held our interests, and how professionally they conducted themselves through every aspect and every moment of both transactions, they also impressed the socks off the other realtors involved!" Mike & Scott
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