Are you buying your first home? Good news! You may be exempt from paying Property Transfer Tax (PTT) on your purchase. The First Time Home Buyers' Program reduces or eliminates the amount of property transfer tax you pay when you purchase your first home. If you qualify for the program, you may be eligible for either a [...]
What is the "stress test"? At the beginning of the month, Ottawa released the news that they would be introducing some new measures to make it harder for Canadians to take on a mortgage they can’t afford. On October 17th, 2016, the federal government’s new rules for first-time homebuyers take effect. Now all insured mortgage [...]
Updated October, 2016 According to the BCREA (British Columbia Real Estate Association): Housing demand in the province “continued to trend lower in September” according to BCREA Chief Economist Cameron Muir. The number of residential unit sales recorded by the Multiple Listing Service (MLS®) in September is 7,591; down 11.2 percent from the same month last [...]
Updated August 2016 According to the British Columbia Real Estate Association (BCREA), home sales in metro Vancouver region are showing a “cooling trend” since March. The 9,900 residential unit sales recorded by the Multiple Listing Service (MLS) in July in B.C. is down 3.4 per cent from the same month last year. According to [...]
