Office Operation Updates

In recent times, the real estate industry has seen a significant rise in title fraud, affecting everyone from homeowners to industry professionals. With fraudsters employing increasingly sophisticated techniques, it’s become crucial for both buyers and sellers to be vigilant. Stewart Title has been at the forefront of combating this issue by educating the industry on detection and prevention stra…

In a bid to curb speculative activities in the real estate market, the British Columbia government has unveiled its latest initiative: the BC Home Flipping Tax. Announced as part of the Budget 2024, this tax aims to target income generated from the sale of residential properties within the province. If you’re a homeowner or investor in BC, understanding the ins and outs of this new tax is crucial…

Money services businesses (MSBs) must fulfill specific obligations as required by the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and associated Regulations, to help combat money laundering and terrorist activity financing in Canada.There are two types of MSBs that must fulfill obligations under the PCMLTFA: Canadian money services businesses and Foreign mo…

The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) is Canada’s financial intelligence unit. Its mandate is to facilitate the detection, prevention and deterrence of money laundering and the financing of terrorist activities, while ensuring the protection of personal information under its control.Read more about the topics below …All FINTRAC guidanceStrategic inte…

The Metro Vancouver(1) housing market continues to experience reduced demand across all housing types.The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,929 in August 2018, a 36.6 per cent decrease from the 3,043 sales recorded in August 2017, and a 6.8 per cent decline compared to July 2018 when 2,070 homes sold.Last month’s sales…

Thursday, September 13, 2018The commercial real estate market in the Lower Mainland continued to see fewer transactions in the second quarter (Q2) of 2018 compared to recent years.There were 569 commercial real estate sales in the Lower Mainland in Q2 2018, a 16.3 per cent decrease over the 680 sales in Q2 2017, according to data from Commercial Edge, a commercial real estate system oper…

Vancouver, BC – July 14, 2016. The British Columbia Real Estate Association (BCREA) reports that a record 12,906 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in June, up 14.3 per cent from the same month last year. Total sales dollar volume was $8.97 billion in June, up 25.7 per cent compared to the previous year. The average MLS® residential price in the province…

The Bank of Canada announced this morning that it is holding its target for the overnight interest rate at 0.5 per cent. In the press release accompanying the decision, the Bank noted that inflation is on track to return to its target of 2 per cent by 2017, though heightened global uncertainty presents a risk to that forecast.  The Bank judges the overall risks to its forecast as roughly balanced…

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