Tagged : market news

This controversial real estate move is leaving some homeowners feeling scammed

Imagine your realtor sold your home for $500,000 more than the price you agreed to — but you didn't see a penny of that extra cash. That's the situation for some Vancouverites, as exposed in a Globe and Mail feature Saturday February 6th 2016.

A controversial sales technique called "shadow flipping" allows unscrupulous Realtors to score two or even three times their standard commission on a single house by reassigning the sale to different owners at ever higher prices. But it's a practice that has left the original sellers feeling scammed and justifiably so.

How does it work?

An increasing number of real estate transactions in the Vancouver region feature what's

We all know that the kitchen is considered to be the heart of the home and, as one of the most important rooms in the house, it needs careful planning if you’re to ensure that it both looks good and functions as it needs to. So, if you’re planning a kitchen makeover, here are five stylish and practical kitchen makeover tips to make sure that you get the best out of your space:

• Select your style

There are so many styles of kitchen cupboards, tiles, floor surfaces, backsplashes and appliances on the market at the moment so, before you embark on a kitchen makeover, think about what you want the end result to look like. It’s time to get creative, and consider the different colors and textures that you can incorporate into your kitchen, which

How can you make money from your home?

Interesting article from the United Kingdom.

In simpler times, people threw Tupperware parties or took in lodgers. Now they run pop-up supper clubs or rent out spare rooms on Airbnb. Some do it for fun - there’s nothing like cooking for strangers or doing a bit of towel art on Egyptian cotton duvets - but most people do it for the money.

There is a growing sense that home is not just an appreciating asset, but a means to make ends meet, part of the global “sharing economy” that allows us to trade our private spaces as easily as selling collectables on eBay.

But first you need the right house: with an eye on income potential, you might look for extra guest rooms with en suite bathrooms, outhouses (perfect

Secondary suites are a form of rental housing that is typically affordable, ground-oriented and market-based.

Secondary suites, a common feature of larger, older homes in several Canadian municipalities, have been in existence for many years but became illegal in some jurisdictions when zoning bylaws set stringent requirements for the type of housing that could be accommodated in low-density areas. Since the 1980s, secondary suites have been recognized by policy makers as one of the most cost-effective ways of providing affordable rental housing and are an important part of the Canadian housing stock, especially in urban areas. Secondary suites make up close to a fifth of the rental stock in Vancouver and Edmonton. They are also an important source of

Before embarking on an expensive move, consider renovating instead?

Move to a larger, more suitable home in your neighbourhood or stay put and renovate what you have? Finish the basement or build an addition? And most importantly, what would each scenario cost?

There are many Canadian's faced with the choice between moving or improving to increase usable square footage. Back in 2012, Canada Post released numbers indicating that of the 850,000 people who changed addresses, 37% moved to upgrade their home for family reasons. More recently, Altus Group measured the boom in Canadian residential home renovation spending, valuing it at $68 billion in 2014, roughly $20 billion more than what was spent on new builds.

Families grow, possessions multiply,

Renting property can be a lucrative way to make money but make sure you know the rules..

In Toronto, in 2012, apartments rented for approximately $25 to $35 per square meter, and in Montreal, $21 to $28 per square meter, according to Global Property Guide. However, rental income can also be as simple as renting the spare room in your personal residence. “Even if you’re renting your basement apartment to a student, this is considered rental income, and it must be declared,” Caroline Thompson, president of Thompson Accounting and Tax Inc., explains. “However, you don’t need to charge the goods and services tax. It only applies to commercial property.”

Share of Ownership

Before you can determine how much of the rental income to declare, you need

Prices may see minimal impact due to the narrow reach of new rules

TORONTO – Homebuyers in Canada now face larger down payment requirements for properties over $500,000. The changes are intended to temper some of Canada’s heated real estate markets. Here are five things to know about the new rules:

Who’s affected: Primarily those shopping for a home in Toronto and Vancouver. First-time buyers in those cities will feel the pinch since they’ll be required to put down bigger down payments to get into the market. Those selling their homes in order to size up, especially in cities with hot housing markets, likely won’t feel the pain since they’ve built up equity in those properties.

Dollars and cents: For someone purchasing a $700,000 home — a common

Hardwood flooring has been around forever, in both cottages and castles.

Whether rough, hand-hewn planks, or elaborately laid parquet, wood has always been dependable as a durable surface with a host of other benefits. Today’s modern hardwood flooring maintains its durability, is easier than ever to care for, and is available to enhance every architectural and decorating scheme.

See the article on our Blog that lists the Top20 keywords for listing a house in Canada

If you’ve bought a house without wood floors, or are refurbishing a home you’ve lived in for years with carpeting or other flooring that has seen better days, it’s time to consider hardwood. Here are some of the reasons:

1. Durability

Real wood lasts for lifetimes. If a plank is

Your home may very well be beautiful, but if you describe it as such to potential buyers, you're hardly being original.

According to data compiled online, "hardwood floors" is the most common word or short phrase used in Canadian real estate listings, followed by "beautiful" and "stainless steel appliances."

Point2Homes scanned its approximately 40,000 Canadian home listings to discover which words are used most often to attract buyers to properties, creating a snapshot of the features they felt are most important - whether they appeal to our aesthetic or aspirational senses, or to more mundane concerns such as appliances and location.

The company also released provincial and regional breakdowns to the National Post, highlighting different

With the Feb. 29 deadline for registered retirement savings plan contributions looming, many Canadians are wondering whether it is better to pay off debt or add to their RRSP.

Financial advisers say that while making any contribution to an RRSP or a tax-free savings account (TSFA) is always a good thing, clearing up consumer debt should be the first priority.

“If they’re in credit card debt then forget it, all they should be focused on is paying off that debt,” said David Trahair, a chartered professional accountant in Toronto. “Forget buying a house, forget RRSPs and focus on making money and spending less so you can pay off first the credit card debt and then the student loan debt.”

Canadians with taxable earnings can contribute up to 18 per