Listen to the CBC report here
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The process of selling a strata property is not the same as selling a house, and it tends to be much more involved when it comes to drawing up the paperwork.
What Are You Actually Selling?
One of the major differences between selling a house and a strata property boils down to what exactly you are selling. When you sell a house, you are selling the home and the land it is on. With a strata property, you could be selling a unit with or without land depending on the development type. Typically, a strata property sale will also include areas that are under shared ownership by all unit owners in that complex.
It is important to understand…
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BCREA 2016 First Quarter Housing Forecast Update
Vancouver, BC – January 28, 2016. The British Columbia Real Estate Association (BCREA) released its 2016 First Quarter Housing Forecast Update today.
Multiple Listing Service® (MLS®) residential sales in the province are forecast to edge back 6.2 per cent to 96,100 units this year, after reaching 102,517 units in 2015. Strong consumer demand is expected to push MLS® residential sales up by 2 per cent to 98,000 units in 2017.
Housing demand in the province is being supported by a relatively robust economy, leading to strong employment growth and rising wages. In addition, net interprovincial migration is on an upswing as many Albertans look to BC for job opportunities. BC home sales are forecast to…
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Canadians are investing in home improvement like never before. While most plan to spend reasonable sums, others say they'll go all out: luxurious materials, home theatres, a Jacuzzi on the patio...even $60,000 kitchens are not that unusual! But how much of their investment will be recovered when their house sells?
Homeowners tend to embark on renovation projects to meet their needs, improve their quality of life or simply pamper themselves with a little luxury. But even if you're renovating primarily for your own sake, you should try to assess the post-project increase in the value of your house, just in case you ever want to sell. There is also the fact that a renovated house will…
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However, the same pitfalls that relate to selling empty houses more quickly, and at best price remain. For sellers who have experienced a job change or other event which requires they move and leave a vacant and unfurnished home behind to sell, there are often issues requiring special consideration. That's because many folks buy on emotion and have a hard time warming up to an empty house. A lived-in home can be much more appealing.
Empty homes often present an echo when you walk through them, and because doors and windows aren’t opened to allow air to circulate, odors can accumulate.
So, you are selling a vacant home, what can you do to create an edge…
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Got your property assessment and want to appeal, theres not much time left if you want to this year. IF you think that something is wrong it's always a good idea to check this year's property assessment against last year's for any kind of discrepancy.
BC Assessment determines values for all properties in BC so municipalities can tax property owners based on a single province-wide set of standards. Tax rates differ from one municipality to another because they're set by the local governments, so even if the valuation of your home goes down, you could still pay more tax. BC Assessment isn't responsible for that, only for the value it sets for your home. Your property is assessed according to its value on July 1 of the previous year.
So how do you…
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Many governments across the country are putting the final touches on their 2016 legislative agendas, including British Columbia’s. And on the West Coast it will probably be difficult to disconnect many of the announcements and policy directives from the provincial election just more than a year away.
Holding to tradition, the spring session will open some time in February, with a budget to be tabled shortly after. While Premier Christy Clark is expected to maintain a steady-as-she-goes course devoid of any major political gambles, there will certainly be moves that will attract attention and undoubtedly controversy.
Here are some of the things I’ll be looking for.
The cabinet
Since the 2013 election, Ms. Clark has only tinkered with the…
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It is a seller’s market. But not every house will sell. What is the best strategy for home sellers selling their home in a seller’s market?
“The best time to buy a house was last year. The next best time is right now.”
For buyers
House prices tend to go up. You can wait for them to go down. You can wait, or you can act. Waiting, in my opinion, will only lead to more waiting. You’re probably not ready to buy if you’re waiting for prices to go down.
If you are looking to buy this year, if you want to be successful with buying a home, now more than ever you have to be prepared to act quickly. You have to be fully engaged in the home buying process. With your agent, you have to see houses and revisit them (online) a week or ten days later and find…
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Whether you are the buyer or the seller of real estate, it is important that you obtain a lawyer to represent your interests. There are many potential legal pitfalls for the unwary when buying real estate. The agreements for purchase and sale and other related documents are complex. To most people the purchase of a home is the largest investment of their life, and the agreement for purchase and sale is the most important legal contract they will ever sign, next to a will of course!
Don't forget to check our local business directory for lawyers - CLICK HERE
There are a number of ways to select the right lawyer for your needs:
Ask friends who have purchased real estate which lawyer they hired, whether they were satisfied, and why or why not.
…
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Lenient border laws, permissive property rules and loose regulations are being identified as key drivers of foreign investment in the Canadian market, including money laundering by Chinese and international investors, according to a recent newspaper report.
According to an article in The Province, which obtained data from the Canadian Border Service Agency through a freedom of information request, Vancouver is being targeted by a small percentage of Chinese nationals as a place for illicit offshore investment. A recent fraud investigation reported by The Province shows that the number of Chinese, and other international groups, laundering money in Canadian real estate is increasing by the day.
Kim Marsh, a B.C.-based fraud investigation executive, told…
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