Determining the Appropriate Property Value and Offer Price
Here are some things for Buyers to Consider when Determining the Appropriate Property Value and Offer Price. As a very good agent, I can help you with all these things Determining the value of home can be sometimes a difficult task for a buyer. Just as there are many factors that can impact a home’s value, the details and potential success of your offer also rely on several pieces of information. If you are thinking about buying a home, you may want to consider the following tips to gain a better understanding of property values. By utilizing these recommendations and discussing the...
Read MoreNew Mortgage Rules
On Monday, Finance Minister Jim Flaherty announced some changes to mortgage rules in Canada. 1. The maximum amortization period is now 30 years (down from 35 years) for government-backed insured mortgages, when the down payment is less than 20 percent. This new amortization limit will come into force on March 18, 2011. 2. The maximum amount that can be borrowed when refinancing a mortgage is now 85 percent the value of the home, down from 90 percent. This new refinance limit will come into force on March 18, 2011. 3. The government will no longer provide insurance backing for home equity...
Read MoreMLA's + HST = SNAFU
By Tom Fletcher – BC Local News Published: August 26, 2010 10:00 AM Thanks Tom, for some more great coverage on the HST debate. I think that no matter how hard people will try… HST is here to stay…. VICTORIA – The B.C. Liberal government should accept the people's verdict quickly and make a deal with Ottawa to get out of the harmonized sales tax. That's the message from an NDP member of the committee that has until December to decide what to with B.C.'s first successful citizen initiative. Victoria-Swan Lake MLA Rob Fleming says the...
Read MoreCanada's Resale housing forecast- REVISED!
OTTAWA – July 30, 2010 – The Canadian Real Estate Association (CREA) revised its forecast downward for home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards and Associations, and elevated its average price forecast. Weaker than anticipated sales activity during the crucial spring home buying season in Canada’s four most active provincial markets prompted the revision. The decline is consistent with the exhaustion of pent-up demand from deferred purchases during the economic recession, and sales having been pulled forward into early 2010...
Read MoreHST Q&A Part 2
HST Application to Real Estate Transactions Here is part two of the two part HST questions and answers session. The information was updated in June of 2010, and has been supplied to the Vancouver Island Real Estate Board. I hope it helps make some sense of it all! Question 11 – What is the general impact of HST on real estate transactions? Answer The HST treatment of real estate transactions will generally follow the current GST treatment of real estate transactions. Sales of new residential housing will be subject to HST and will qualify for GST, HST, and transitional rebates...
Read More
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. 