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Vancouver’s housing affordability is decreasing

May 20, 2012

Filed under: Real Estate Market,Vancouver — Richard Morrison @ 2:44 pm

It’s now evident that affordability in Vancouver housing is decreasing. This is attributed to the ever increasing demand both from the locals and foreigners. The increase in demand is due to high rank that this city enjoys. This city is said to be one of the world’s livable locations. It is also ranked 4th in terms of its quality of living as compared to other cities in the world. These factors have led to very high demand for housing within […]

Canadian Households debt and Vancouver cost of living rising

Filed under: North Vancouver,Real Estate Market,Vancouver — Richard Morrison @ 2:36 pm

According to the recently released figures, the household debts in Canada have skyrocketed hitting some unbelievable figures. These debts are in form of loans, collateral and some other forms of credit. In the initial quarter of this new financial year alone, the debts have increased from the initial sum of $1.526 trillion to 1.548 trillion. This is not only unacceptable but more of a torture to the ordinary citizen in Vancouver as they can no longer afford to live a […]

Is buying as affordable as renting in Vancouver, BC Canada?

Filed under: North Vancouver,Real Estate Market,Vancouver — Richard Morrison @ 2:25 pm

The question of whether to buy or to rent has always sparkled debate. Going by the statistics, the majority of people in Vancouver opt for buying instead of renting. The predicted increases in property value over the years have contributed to this. But we cannot entirely dispel the fact that property owners are regarded to as more financially responsible, fortunate or even better off has also played a role. It’s a reputation that everyone wants to be tagged with, which […]

Information on buying a home in Vancouver Canada.

Filed under: Real Estate Market,Vancouver — Richard Morrison @ 2:07 pm

Canada is probably the most beautiful country in the world and frequently nears the top of the UN quality of life tables (Human Development Index). Aside from that, Vancouver Canada is a major destination for immigrants. All of these highly skilled and qualified people need accommodation when they land, thus the demand for good quality rental housing is high and likely to remain so well into the future.   Finding a Property At present the majority of real estate transactions […]

Tighter mortgage rules in Canada in 2012

April 26, 2012

Filed under: Burnaby,Mortgage Financing,North Vancouver,Richmond,Surrey,Vancouver — Richard Morrison @ 12:24 am

A new poll suggests economists are increasingly convinced the government will move to ratchet down mortgage rules in 2012 – that even as the broker channel ramps up lobbying efforts to block the move. Some 10 of 14 economists and strategists surveyed for Reuter’s first poll on the Canadian housing sector last week said Ottawa does, indeed, seem poised to tighten mortgage rules within the next 12 months. Moreover, they believe that intervention is likely to come as early as the busy […]

How are capital gains tax calculated in Vancouver & Canada?

April 25, 2012

Filed under: Burnaby,North Vancouver,Richmond,Surrey,Vancouver — Richard Morrison @ 11:46 am

Hi folks, I just wanted to share a question that is always asked by many of our clients and provide you with an answer on how you can calculate capital gains tax in Vancouver & Canada. But before I go ahead to explain the simple methods to you, I will explain what capital gain tax means first so you can gain an insight into what am about to share with you. So here is a simple definition of what capital gain […]

Buyers: Tax Assessment Is Not Market Value in Vancouver BC

March 18, 2012

Filed under: Vancouver — Richard Morrison @ 8:46 pm

Before getting all their emotions typed up in a panicked knot, or taking off on a joyful spending spree thinking the equity in their home is worth far more than it is, homeowners should clearly try to understand one very important thing – tax assessment is not market value in Vancouver BC. Simply put, the tax assessment on a piece of property is the amount of money the government has decided it needs to collect from property owners for the […]

Vancouver real estate – How To Improve Your Kitchen Without A Huge Cost?

Filed under: Vancouver — Richard Morrison @ 5:00 pm

Let’s face it: Your kitchen is probably the most important place in your Vancouver home. Here you not only prepare your food, spend most of your time eating breakfast, lunch and dinner, but nowadays, you also entertain there, and quite often end up spending most of your social time there as well! For this reason we have to think of good ideas to update your home to enhance the way it appears before you sell it. The question then becomes: […]

Clarification of New rules for Vancouver real estate HST tax in 2012

Filed under: Vancouver — Richard Morrison @ 4:40 pm

Announced last month, the new guidelines of British Columbia HST Transitional tax have given a much-needed certainty in terms of tax structure for the new home buying market for Vancouver homes. As British Columbians were not in favor of the HST last year, the British Columbia Government left with no option than to wait and discuss the transitional guidelines for the HST tax on property that is newly developed in the province. Due to this delay in feedback, lots of […]

Vancouver real estate – How to beat the competition in multiple offer situations

Filed under: Vancouver — Richard Morrison @ 4:30 pm

With the reappearance of high buyer activity and prices which are escalating day in day out in Vancouver’s high real estate market, sellers are on the gaining end. High demand and insufficient supply leads to multiple offer situations which is a common phenomenon in real estate market. Many home buyers table a bid on an appropriate house within their price range, only to realize that there are contending offers. This leaves the seller with an option to decide the best […]