B.C. government mulls housing market cooling measures
Posted by Steve Harmer on
With the upcoming preparation and approval of its budget next month, the British Columbian government is set to tackle housing relief as a primary concern.
Premier Christy Clark said on Tuesday (January 12) that luxury or speculation taxes won’t be implemented in the government’s bid to moderate Vancouver’s surging housing market, which has put an increasing number of homes out of reach of a growing fraction of would-be owners.
Clark did not give further details, only saying that the measures would focus on providing relief for first-time buyers without devaluing the properties of current owners.
“We’re thinking of a whole range of things. You’ll see more of it as we get closer to the [Feb. 16] budget,” Clark told media in a press conference, as…
1731 Views, 0 Comments
Q: How do I renegotiate with my home's buyers over problems arising from their home inspection?
So you got a “Low Ball” Offer on your house for sale…Unfortunately, “low ball offers” on homes are more common than you may think, particularly among investors. A “lowball offer” is an offer that is far below a home’s asking price (sometimes ridiculously low—but the value of “low” is in the eyes of the recipient). There is not really a benchmark for how low an offer is to be considered a “low ball,” but believe me, if you receive one when selling your home, you’ll know!
So are you looking to buy a home in Kamloops? Tired of looking on www.mls.ca and constantly sorting out the good from the bad? Ever wonder how folks get to see the latest properties first?
TORONTO, January 13, 2016 – Canada’s residential real estate market showed strong growth in the fourth quarter of 2015, led by hot Vancouver and Toronto markets according to the Royal LePage House Price Survey and Market Survey Forecast released today. Looking forward to 2016, Royal LePage expects continued price increases in most markets, but not at the pace that has been the recent norm. Instead, the national real estate market is expected to slow later this year, principally due to the effects of a dampened economy in Western Canada and eroding affordability in Toronto and Vancouver.
Selling a home with an income-generating rental suite has many advantages to potential purchasers, thus giving you, the seller, an edge on the competition in today's evolving real estate market. In general, a rental suite is qualified when the secondary accommodation has its own separate entrance, a kitchen, living area and a bathroom with either a shower or bathtub.
It may not be official, but Canada’s most expensive cities for housing seem to have a “one-bedroom policy” and millennials are no longer buying in.
As they say, the cure for high prices is high prices.