In this blog I’m going to talk more about the new speculation tax and how it’s going to do very little to address the real problem in the Vancouver housing market. That real problem is billions of untaxed dollars entering the housing market and the abuse of the principal residence exemption. I will also ( for about the 10th time ) give you my suggestions on what needs to be done to at least help level the playing field. By that I mean having these buyers contribute their fair share to the Federal and Provincial tax coffers.
The NDP Government just released there new budget and housing strategy for the province. In an attempt to try and cool the red hot Real Estate market and make homes more affordable they have introduced some new tax changes.
They include: - Increasing the the foreign buyers tax from 15 to 20% and making it provide wide. - Increasing the PTT from 3% to 5% on homes over 3 Million. - A new speculation tax on home owners who do not file taxes in BC
My quarterly market update for 2018. Not much has changed over the past 3 years. Inventory remains ultra low and we continue to be in a strong sellers market for condos and townhomes. Until inventory levels start to build I’m not expecting much in the way of price relief. I also touch on how the new mortgage qualification rules are only perpetuating the problem.
This is a follow up blog to one I did entitled “Mixing millionaires with social housing” and why the city of Vancouver continues to build social housing in some of Canada’s and N. America's most expensive neighbourhoods for Real Estate. Would it not be better for the city to sell this expensive land to a developer... then take that money and build 3 times as many units in an area like Surrey?
We are proud to announce that this Feb 11th, 2:00 PM to 4:00 PM we will be hosting an Open House at 21 628 W 6TH AVENUE in the Fairview VW neighborhood, Vancouver West. This is an opportunity to visit this excellent Townhouse for sale in beautiful Fairview VW.
Please come with any questions you may have. In the meantime you can take a virtual tour of this Fairview VW Townhouse for sale.
As always please do not hesitate to give me a call at 604 889-1118 if I can answer any questions before the open house, or if you would like to book a private showing.
Owen BiglandMacdonald Westmar
I just finished uploading this Condo for sale, 806 867 HAMILTON STREET, Vancouver West, BC
Welcome to this nicely updated 2 bedroom 2 bath and Den unit @Jardine's Lookout! This move-in ready unit shines! Featuring a beautiful new kitchen, two new bathrooms, a big living room with a gas fireplace, a great home office and so much more! Call to view.
A common question I receive from new real estate investors is "Should I hire a property manager to run my investment property or should I do it myself?" In this video I will go thru the advantages and disadvantages of both. I will also post links below to some of the other videos I have done on finding tenants and managing investment properties.
We are proud to announce that this Feb 3rd, 2:00 PM to 4:00 PM we will be hosting an Open House at 21 628 W 6TH AVENUE in the Fairview VW neighborhood, Vancouver West. This is an opportunity to visit this excellent Townhouse for sale in beautiful Fairview VW.
Please come with any questions you may have. In the meantime you can take a virtual tour of this Fairview VW Townhouse for sale.
As always please do not hesitate to give me a call at 604 889-1118 if I can answer any questions before the open house, or if you would like to book a private showing.
Owen BiglandMacdonald Westmar