BC Real Estate News
Tax Fairness for Homebuyers This spring, REALTORS® around the province are meeting with their MLAs to talk about the impact provincial shelter taxes (that is, the Harmonized Sales Tax and Property Transfer Tax) have on homebuyers. BCREA and REALTORS® believe the following actions will help restore tax fairness: Increase the 1% Property Transfer Tax threshold from $200,000 to $525,000, with 2% applying to the remainder of the fair market value. Index the 1% Property Transfer Tax threshold of $525,000 using Statistics Canada’s New Housing Price Index, and make adjustments annually. Index...
Read MoreMarket Conditions Beginning to Improve
Vancouver, BC – October 13, 2010. The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province declined 36 per cent to 5,511 units in September compared to the same month last year. On a seasonally adjusted basis, MLS® residential unit sales in the province increased 2 per cent in September from August 2010. The average MLS® residential price climbed 4 per cent to $493,846 in September compared to the same month last year. “BC home sales increased for the second consecutive month in September,” said Cameron...
Read MoreY.A.N.A Comox Valley- $20,000 Raised!
Early, early, Sunday morning, my wife and I got up and volunteered for this great event. Y.A.N.A (You Are Not Alone) is my favorite charity, and they help support families with sick children. Check out their website, http://yanacomoxvalley.com for more details. For the fourth year, Black’s Cycle Century Ride for YANA has raised money to help Comox Valley families who have to leave the Valley for medical treatment for their children. Early on Sept. 12 (a wet Sunday morning), the enthusiastic group of riders headed out on Loop One of the Century Ride. In the end, the riders — who raised...
Read MoreLow Mortgage Rates Boost August Home Sales
From BCREA Vancouver, BC – September 14, 2010. The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province declined 35 per cent to 5,590 units in August compared to the same month last year. On a seasonally adjusted basis, MLS® residential unit sales in the province increased 7 per cent in August from July 2010. The average MLS® residential price climbed 4 per cent to $487,804 in August compared to the same month last year. “August home sales posted the first month-to-month increase since March of this...
Read MoreBank of Canada raises key rate to 1%
The Bank of Canada raised its target for the overnight rate by one quarter of one percentage point to one per cent on September 8th, 2010. It was the third consecutive quarter point hike. The Bank rate was raised to 1.25 per cent and the deposit rate is now 0.75 per cent. The Bank noted that, while the global economic recovery is proceeding, it remains uneven. The main downside risk cited in the Bank’s announcement was the recent weakness in the U.S. recovery, saying, “In the United States, the recovery in private demand is being held back by high unemployment and recent...
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Owen has lived in the Comox Valley for over 30 years. He loves the Comox Valley, and the people who live here! His strong negotiating skills and great personality make him the right choice for your real estate needs. 