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We are hearing about a lot of negative things with today's Vancouver real estate market but there are positives as well. One of those is the opportunity to upgrade.
*******kyegrace**** There have been numerous media reports and statements by the Real Estate Boards on how the HST will impact Real Estate in Vancouver and the rest of British Columbia.
While I think how the additional tax on Realtor's fees, legal costs, inspections, appraisal etc will impact affordability is a valid concern, I feel there is a far bigger concern.
The impact on the overall economy. If the HST causes the economy to recede, then the additional tax on closing costs becomes moot if people are not buying Real Estate.
The two industries that are the most likely to get hit the hardest are construction and restaurant/food & beverage.
These two industry employee a significant number of employees. If lay offs do happen in significant numbers then odds are the impact will be felt through out the economy.
What will compound this problem is that one of the common topics to report on during a economic downturn is job losses.
Reports of job losses makes the majority of the population nervous and they often reduce their spending in case it happens to them.
And of course this means not buying a new home, hence a simplified version the real impact on the Vancouver Real Estate market in my opinion.
This video is part of a discussion on how much Real Estate Agents in Vancouver get paid and the Remuneration Disclosure Document from the Real Estate Council of British Columbia. Have a look at Mike Stewart’s Vancouver Real Estate Video Blog and join the conversation!
This video is part of an interview by Jessi Johnson, a Vancouver Mortgage Broker of me, Mike Stewart Vancouver Realtor on whether or not its possible to get a better deal when buying Vancouver Real Estate in the Winter as opposed to other times of the year.
First Time Buyer? *******www.mikestewart.ca/blog/category/for-buyers/first-time-home-buyers-advice-for-vancouver/
This video is part of a discussion on Mike Stewart Vancouver Realtor's Commission Rates he charges Sellers of properties in Vancouver.
Doug Reynolds graduated from CSU, Sacramento with a degree in Real Estate Land Use and Regulation. Bought his first house at the age of 21. Obtained his DRE license in 2006 and received the "Rising Star" Award from Prudential California Realty his first year in the business for providing excellent leadership and service to his clients, company and community. Doug teaches technology, marketing and contract classes to Sacramento Region Realtors. His excellent computer skills has given him a competitive advantage when marketing listings and also working with buyers by providing additional features and services.
Mike Stewart discusses the Property Condition Disclosure Statement PCDS for Vancouver Real Estate.
Call 604-763-3136 for more details!
Here it is! Real Estate TKO Episode #3...we are still working through creating a permanent set that aligns with the content and theme of Real Estate TKO. We want to keep pumping out the content each week anyways as we feel that is the true value...
Harmonized Sales Tax - The BC Government has decided to combine the PST & GST into one tax which now adds the 7% PST to items that it wasn't applied to in the past. This includes Real Estate commissions, Real Estate legal fees including Notary Public fees, home inspections and appraisals.
Age Restrictions in Strata Bylaws - A couple in Coquitlam bought into a condo building with a bylaw stating no one under 19 years old may live there with no plans to have a child anytime soon. Unfortunately they are now expecting a child, it is important to understand they did not intend to become pregnant, and have been informed the may not bring the baby to live in the building. They now have to sell and for less than they paid due to the market shift and are trying to appeal this decision.
Realtor Penalties - The Real Estate industry is somewhat self regulating and many feel the consequences assigned by the Real Estate Board for violations may not be adequate.
Just Listed Post Cards - Many Realtors mail out a post card for each new listing advising residents in a specific area that the property is listed. This is done to both market the property and the Realtor. Do they work?
*******kyegrace**** I have a client who has used the internet to do an amazing amount of research for various houses for sale she is considering buying.
One of the coolest things she has done though is using the recently available Google Maps Street View.
Google Street View is a feature of Google Maps that provides 360° panoramic views from a row of positions along the street in approximately 10 or 20 meter intervals for many streets in Metro Vancouver & the Fraser Valley.
The pictures are great quality and more than practical to view a particular location on the day the picture was taken.
Back to my client, what she did was search the property on Street View and found that in the image it appeared the windows upstairs were boarded up. We had viewed the property and seen no evidence of such activity, as it turns out it the wooden blinds were closed giving the appearance of wood blocking the windows. But what a potential gem of a discovery if that had been an issue in the past with this house for sale that was not obvious now.
Using Google Street View can you not only view an image of the home you are considering you can virtually walk through the neighbourhood, the route your kids may walk to school, view nearby parks or anything else you can think of you would want to view without having to hop into the car.
Simply go to Google Maps and search for an address or location and zoom into the max or click on 'street view' in the location bubble.
*******www.lisagibson**** |Vancouver BC Real Estate Agent. Offering professional services in buying and selling real estate in the Vancouver area.
West Vancouver is a wonderful community, as the world saw when they were a part of Vancouver hosting the 2010 Winter Olympic Games. The Economist Intelligence Unit ranked Vancouver as the world’s very best place to live!*******www.wendigustavson****/
This video is part 1 of a 3 part series on the Department of Finance’s new rules for mortgages in Canada and how it impacts Vancouver’s Real Estate Market with Jessi Johnson Mortgage Broker and Mike Stewart Vancouver Realtor. To learn more check out the link above!