White Rock Life - Real Estate Blog
Posted on Aug 17, 2020 in Real Estate News
OTTAWA — The Canadian Real Estate Association says home sales in July hit a record high as they continued their rebound from the lows of earlier this year when the COVID-19 pandemic froze the market.
CREA says the 62,355 sales in July 2020 marked the highest monthly sales figure on record, with data going back more than 40 years.
Sales in July were u...
Posted on Feb 20, 2020 in Investment
It's that time of year again to declare your BC Speculation and Vacancy Tax for 2020. Below are a few things you need to know about this tax and how it impacts you as a homeowner.
1. What is the BC Speculation and Vacancy Tax?
The tax is part of the government's 30-Point Plan to make housing more affordable in BC. It targets foreign and domestic buye...
Posted on Jun 20, 2019
With all the recent changes to taxes for home owners it's difficult to determine which taxes apply and which don't. Additionally, different regulations apply to different areas which leads to a lot of misinformation out there.
Hopefully the map and information provided here will help you navigate the applicable taxes and where they are relevant.
Posted on Mar 18, 2019
Housing prices in the lower mainland, along with strict mortgage guidelines, have made purchasing a home difficult for first time buyers without some assistance. For most, this assistance comes from the bank of Mom and Dad. If you are considering helping your children purchase, here's 5 ways you can help them step out of rental properties and into...
Posted on Feb 28, 2019
During the past year increased inventory, new government regulations for home buyers, and stricter mortgage rules have slowed the market to an almost standstill. As a result, prices have fallen and increased days on the market to sell have pushed the eventual sale prices down further still.
Today, as every other day, we don't have a crystal ball an...
Posted on Jan 22, 2019
Heads up, the government's new speculation tax comes into play for 2019. However, the onus will be flipped on to homeowners to claim that they are not subject to the tax. Failure to claim will result in the tax being payable.
Letters regarding the tax and the process to claim exemption will be sent to homeowners in the coming weeks, check your mail...