Posted in: 2012
David & Mark Goodman, The Goodman Report
Vancouver’s affordable housing initiative recently proposed by Mayor Robertson has triggered heated debate amongst its citizenry, especially those residing in single-family neighbourhoods. While most support the search for financially reasonable solutions to alleviate our well-publicized housing shortages and sky-high costs (amongst the highest in North America), there are those determined not to accept change particularly if it affects them directly.
source: The Goodman Report
We are changing some portions of the website over the next few days. Certain functions may not work intermittently. If you encounter any issues, feel free to let us know. We expect to be done and back to normal by Friday, October 26th.
Bank of Canada Interest Rate Announcement - October 23, 2012
The Bank of Canada once again opted to hold its target for the overnight rate at 1 per cent this morning. Interest rates have been held constant for over two years, the longest such period since the 1950s. The Bank somewhat tempered its bias for higher future interest rates, including a softer statement regarding the appropriateness of a gradual withdrawal of monetary stimulus as excess supply in the economy is absorbed. In a bit of a surprise, the Bank actually raised its forecast for the growth in the Canadian economy this year to 2.2 per cent, but kept its 2013 forecast at 2.3 per cent growth. The Bank judges that at that pace of growth, the Canadian economy will return to full capacity by the end of 2013.
It is our view that monetary policy at the Bank of Canada will continue to be constrained by external events in the global economy and household debt growth at home. While the Bank's preference for tighter policy is clear, it is difficult to make a case for higher interest rates when core inflation is below the Bank's 2 per cent target and already slow economic growth is threatened by global uncertainty. Therefore, we are forecasting that the Bank of Canada will hold its target overnight rate at 1 per cent until mid-to-late 2013 when, conditioned on an improved global economic outlook, it may test the water with a 25 basis point rate increase.
Open House on Saturday, October 27, 2012 1:00 pm - 3:00 pm
Welcome to Kore! This luxury concrete condo has it all - located right in the heart of beautiful Kitsilano. NEW spacious one bedroom corner unit features high end finishings, large balcony, hardwood floors throughout, open-concept kitchen,stainless steel appliances, Caesarstone & marble counters, gas cooktop, floor-to-ceiling windows and great city views. Priced to sell, no HST, don't miss this one! Public Open House October 27th & 28th, Saturday/Sunday, 1:00 - 3:00pm
If a client buys a new or substantially renovated secondary or recreational home in BC, but outside of Greater Vancouver or Victoria, before April 1, 2013, they may qualify for a provincial grant for the Harmonized Sales Tax (HST).
The grant for new secondary or recreational housing is directly administered by the BC Ministry of Finance. This grant should not be confused with the BC New Housing Rebate available for new residential homes bought as a primary residence, and administered by Canada Revenue Agency (CRA).
The grant for new secondary or recreation housing is 71.43% of the provincial portion of the HST paid on the new home up to a maximum rebate of $42,500. Secondary or recreational homes priced at $850,000 or more are eligible for a flat grant of $42,500. To be eligible, the secondary or recreational home must be:
• a new home (detached, semi-detached, duplex, condominium, townhouse) constructed or substantially renovated (more than 90%) together with land bought from a builder;
In addition to the general qualifications above, buyers must meet other conditions depending on the type of home and whether the client buys or builds the house alone or with others. For example, if two or more individuals buy a new secondary or recreational home, or build or substantially renovate a home, each buyer must meet all eligibility conditions, but only one may apply for the grant as the claimant.
You do not have to be a BC resident to be eligible for the grant. Buyers of secondary or recreational homes must complete an application form and provide supporting documents within six months from the date the HST was paid and before October 1, 2013 (whichever date is earliest).
To learn more, contact:
Open House on Saturday, October 20, 2012 2:00 pm - 4:00 pm
Welcome to Kore! This luxury concrete condo has it all - located right in the heart of beautiful Kitsilano. NEW spacious one bedroom corner unit features high end finishings, large balcony, hardwood floors throughout, open-concept kitchen,stainless steel appliances, Caesarstone & marble counters, gas cooktop, floor-to-ceiling windows and great city views. Priced to sell, no HST, don't miss this one! Public Open House October 20th & 21st, Saturday/Sunday, 2:00 - 4:00pm
Open House on Saturday, October 13, 2012 2:00 pm - 4:00 pm
Welcome to Kore! This luxury concrete condo has it all - located right in the heart of beautiful Kitsilano. NEW spacious one bedroom corner unit features high end finishings, large balcony, hardwood floors throughout, open-concept kitchen,stainless steel appliances, Caesarstone & marble counters, gas cooktop, floor-to-ceiling windows and great city views. Priced to sell, no HST, don't miss this one! Public Open House October 13th, Saturday, 2:00 - 4:00pm
Posted in: Yaletown, Vancouver West Real Estate
I have listed a new property at Yaletown, Vancouver West.
RARE FIND! WATERFRONT WITH VIEWS OF WATER AND CITY! Exquisitely finished apartment with custom included furniture, Top miele and Leiberman appliances, silestone counter tops, italian tile, h/w flrs throughout, alpaca carpets, custom colours, grohe fixtures. Efficient layout makes this suite feel and look much larger then sq footage. Best location in Yaletowns Waterfront. Only 4 suites on the 9th floor which makes for a exclusive and private retreat. 24 hour Concierge, top security. Rare 1 parking and 1 storage locker. Just walk outside your door to some of Vancouver's best eateries or go for a walk on the waterfront. Available December 1st, minimum 3 month lease term.
NO SMOKING, NO PETS.
Open House on Saturday, October 6, 2012 2:00 pm - 4:00 pm
Welcome to Kore! This luxury concrete condo has it all - located right in the heart of beautiful Kitsilano. NEW spacious one bedroom corner unit features high end finishings, large balcony, hardwood floors throughout, open-concept kitchen,stainless steel appliances, Caesarstone & marble counters, gas cooktop, floor-to-ceiling windows and great city views. Priced to sell, no HST, don't miss this one! Public Open House September 29th & 30th, Saturday/Sunday, 2:00 - 4:00pm
Market update from wesellvancouver
Conditions continue to favour buyers in the Greater Vancouver housing market
The summer of 2012 drew to a close in September with home sale activity well below historical averages in the Greater Vancouver housing market.
September sales were 41.6 per cent below the 10-year September sales average of 2,597.
New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,321 in September. This represents a 6.3 per cent decline compared to September 2011 when 5,680 properties were listed for sale on the MLS® and a 31.6 per cent increase compared to the 4,044 new listings in August 2012.
Resolving strata disputes will soon become faster, more accessible and more affordable thanks to recent provincial legislation.
Bill 44: The Civil Resolution Tribunal Act, which passed in 2012, creates an independent body, the Civil Resolution Tribunal, which will provide dispute resolution tools as an alternative to going to court. The tribunal is expected to be operational by 2014.
This is welcome news for the Real Estate Board of Greater Vancouver, which together with BC Real Estate Association (BCREA) had, for many years, voiced concerns about strata property legislation.
BCREA advocated for this change and in 2011 reiterated the industry’s position during the province’s 2011 consultation process on strata dispute resolution.
Who can access tribunal services?
Strata corporations, strata owners and tenants will be able to access tribunal services.
The tribunal will have the authority to handle strata disputes between strata property owners and strata corporations, including:
• non-payment of monthly strata fees or fines;
The tribunal will not decide matters that affect land, including:
• ordering the sale of a strata lot;
These matters will continue to be heard in the BC Supreme Court, as will other matters, including:
• the appointment of an administrator to run the strata corporation;
How will tribunal services be accessed?
The tribunal services will be available online 24/7. Assistance will also be offered by phone, mail or even in person. Disputes are expected to be resolved within 60 days, compared to 12 to 18 months for the court process.
The tribunal will have five stages
Stage 1 - Self-Help
Information and tools will be available online 24/7 to help parties resolve disputes.
Stage 2 - Online Party-to-Party Negotiations
If Stage 1 fails, parties can go through a guided negotiation monitored by tribunal staff.
Stage 3 - Facilitated Settlement
Where an agreement is still not reached, parties can pay applicable fees and request active facilitation by the tribunal involving mediation or other dispute resolution processes. All parties must consent.
Stage 4 - Case Management Preparation
A case manager will facilitate mediation and explore options for settlement.
Stage 5 - Adjudication
Any dispute not settled by agreement will be heard by an adjudicator with the authority to decide the outcome and make binding decisions.
Fees for tribunal resolution of a dispute have not been finalized.
Information on strata property and the tribunal available at: www.housing.gov.bc.ca/strata
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