Real Estate Purchases and Sales

The homeowner grant reduces the amount of property tax you pay for your principal residence.The grant is available to homeowners who pay property taxes to a municipality, or to the province if they live in a rural area. If you pay your property taxes to a First Nation, contact the First Nation directly.In this article you’ll learn about:What to doAbout the homeowner grantRegular grant…

By AleemThis On Wednesday July 12 2022, The bank of Canada officially announced the increase to the overnight lending rate by 1.00%.This announcement surprised pundits who in large part were expecting a maximum increase of 0.75%. This is the biggest jump since 1998, and Canada’s banks will be increasing their prime rates in the coming weeks to 4.70%. This will impact Canadian home owners…

By Jonathan Russell Canadian Mortgage Professional MagazineSomebody other than the prospective homeowner (typically a family member or friend) will usually co-sign on a mortgage if the prospective homeowner’s credit and income are not enough for them to qualify themselves. And it works both ways. It is possible that a family member or friend will one day ask that you co-sign on a mortgage if…

Amendments to the Property Law Act introduced on Monday, March 28, 2022, will enable the creation of a new Homebuyer Protection Period to protect people buying a home in a challenging real estate market.The Homebuyer Protection Period, sometimes called a “right of recission,” responds to concerns that in the highly competitive housing market, buyers are reporting pressure to submit offer…

The British Columbia Real Estate Association (BCREA) released its 2022 First Quarter Housing Forecast Update on February 2, 2022.   Multiple Listing Service® (MLS®) residential sales in the province are forecast to decline 17 percent from a record high 2021 to 103,250 units this year. In 2023 MLS® residential sales are forecast to fall an additional 12 percent to 90,200 units.   “We exp…

There are many housing options for seniors and older adults in B.C. Whether you own or rent your home, or live in a supported or assisted living environment, there are programs and information that can help with your housing needs. Learn more about aging in place, managing housing expenses and moving to other levels of care.Aging in place“Aging in place” means staying in your own hom…

Building or renovating your home is exciting but can also raise many questions. Find out more about the steps you need to take before you start the process. Learn about permits, zoning, and options and programs for improving energy efficiency in your home.  Read More…

Fixed mortgage rates have increased between .50% to .60% over the last couple of weeks. This is largely due to the Bank of Canada ending quantitative easing (QE). QE was a stimulus program that was introduced at the start of the pandemic to pump money into the economy. What it also did was artificially lower the bond prices and by extension the fixed mortgage rates. Taking away the stimulus raise…

Learn about real estate in B.C.: buying and selling property, real estate consultations, and regulations for real estate services, real estate development marketing and pre-sale strata.Buying & selling property Real estate consultations Condo and Strata Assignment Integrity Register Land Owner Transparency RegistryRead More…