Greater Vancouver Real Estate Market Report for April 2019

Here's a look back at real estate market statistics for Greater Vancouver listings and sales for April 2018 from Royal Pacific Realty. Subscribe to receive these directly in your inbox every month! MLS® HPI Benchmark Price for April 2018 HPI stands for...

Greater Vancouver Real Estate Market Report for March 2019

Here's a look back at real estate market statistics for Greater Vancouver listings and sales for March 2018 from Royal Pacific Realty. Subscribe to receive these directly in your inbox every month!MLS® HPI Benchmark Price for March 2018HPI stands for “Home...

Greater Vancouver Real Estate Market Report for February 2019

Here's a look back at real estate market statistics for Greater Vancouver listings and sales for February 2019 from Royal Pacific Realty. Subscribe to receive these directly in your inbox every month!MLS® HPI Benchmark Price for February 2019HPI stands for...

Greater Vancouver Real Estate Market Report for January 2019

Here's a look back at real estate market statistics for Greater Vancouver listings and sales for January 2019 from Royal Pacific Realty. Subscribe to receive these directly in your inbox every month!MLS® HPI Benchmark Price for January 2019HPI stands for...

Real estate is still a great investment

How would you like to own an investment – your home - that increased in value more than three times (342%) in just under 20 years? That’s what would have happened if you had bought a home in Greater Vancouver in the year 2000.The benchmark sales price in December 2000...

You can qualify for a mortgage when you’re self-employed

In BC, about 18% of the workforce is self-employed, according to Statistics Canada. Most work out of their homes. If you’re one of them and you’re thinking of buying a home, when you go shopping for a mortgage, you should be prepared since you'll be treated...

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What’s in the BC Budget for home buyers?

Property Transfer Tax (PTT)  Qualifying first-time home buyers can now buy a home priced up to $500,000 and not have to pay the PTT effective today. (The previous threshold was $475,000). The partial exemption increases to $525,000 from $500,000. First-time homebuyers...

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New rules for the capital gains Principal Residence Exemption

Changes to the Principal Residence Exemption (PRE) were announced last year on October 3. The PRE allows a home owner an income tax exemption on capital gains they realized when they sell their designated principal residence as defined in the Income Tax Act 40(2)(b)....

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Foreign buyer tax exemption coming for those with work permits

Foreign nationals with Canadian work permits, living and paying taxes in BC, will soon be exempt from the 15% additional Property Transfer Tax. “It’s important to send a message to foreigners who want to come from America that they are welcome if they’re going to work...

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Appealing your property assessment

The deadline to appeal your property assessment is February 1, 2017. Property owners who disagree with their assessment should do homework by: comparing their assessment with neighbouring properties; and contacting BCA at 1-866-valueBC (1-866-825-8322) and talking to...

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Great Vancouver property assessments surge

Property owners received their 2017 assessment notices the first week of January. The District of Squamish saw the greatest increase in Metro Vancouver with a 47% increase for detached homes. North Vancouver’s Lynn Valley and Burnaby’s Buckingham neighbourhoods were...

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Vancouver Empty Homes Tax now in effect

Vancouver's Empty Homes Tax is now in effect. The first tax year began January 1, 2017. The tax rate is 1.0% of the property's assessed value. Property owners are required to complete a declaration not available online until December 2017. Who pays this tax? Owners of...

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First-time buyers interest-free down payment program

The new BC Home Owner Mortgage and Equity (HOME) Partnership program helps eligible BC residents buy a home. The program offers first-time home buyers who have saved a down payment: a down payment loan of up to 5% of a home’s purchase price to a maximum of $37,500, on...

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Measuring the market – is the HPI the best tool?

What's happening to home prices and where are they headed? Realtors are asked these questions everyday by clients looking for accurate information to base their decision on whether it's a good time to buy or sell. Are these market watchers getting the best data? To...

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