The BC government has been making multiple announcements from the end of 2016 to now. The latest announcement is an increase in the Property Transfer Tax exemption threshold for first-time buyers, announced in Budget 2017. The increase, to $500,000 from $475,000, took effect this week.
The increase in the tax exemption threshold is to address the housing affordability in BC. The move will save first time buyers up to $8,000 in property transfer tax. The move has been applauded by the British Columbia Real Estate Association and Urban Development institute for enabling more families to get into the real estate market and ensuring that first time home buyers are not left behind.

What does this mean for real estate investors?

With Vancouver's transportation referendum now taking place I wanted to explore the proposal and get some facts to help me make a decision. In this video I share my findings with you, as well as how Transportation impacts real estate.


I hope you enjoy,

Rasam

If you have topics you would like me to cover, comment on my video or contact me.
Thanks,
Rasam

As you probably already know the Bank of Canada reduced its overnight lending rate by 0.25%. Since then there have been many articles and TV news stories analyzing this situation to no end. There is still a lot of confusion and uncertainty amongst the general public however.

I’m going to break it down for you here and remove some of the confusion.

Why?     

• This announcement has nothing to do with real estate market or mortgages (they are impacted by it but are not the reason for it)
•  Oil Prices: To counteract the recent drop in oil prices. Protecting more Canadian jobs and tax revenue
• Canadian Dollar: Lower interest rate has a lowering effect on the Canadian dollar making Canadian goods more affordable in the world market
• Spending: Lower interest rates stimulate spending especially in businesses, generating more jobs, tax revenue.

“Landlord” and “Tenant” are two of the most used words when talking about rental properties. With many stereotypes built around them, the images that those words bring to mind are not the most pleasant. Major issues will arise if we build our business of real estate around those stereotypes.

It seems like it's that time of the year again, when the flowers bloom and mortgage rules get tightened. This latest tightening of the rules comes from CMHC. The latest rule changes affect mortgage insurance qualifications in two areas: 1) Second Homes 2) Self Employed.

As we get closer to the completion of some large transportation improvements around the lower mainland I thought it would be a good idea to revisit the importance of these projects on the Real Estate of Maple Ridge. 

Wouldn't it be nice if there was an easy way to tell if a market is performing in terms of sales? Or said in another way, "is the market a buyer's market or a seller's market?"  Applying a common retail concept to real estate allows us to get a good indication of its performance.

One of the most common questions asked by those looking to invest in real estate is “where do you buy?” Since I have selected regions where I specialize in, the answer is easy, however, the why is a more complex answer.

First it is important to understand that there is no such a thing as a Canadian Real Estate market.  Overall the Canadian real estate market is seen as a safe place to invest, but in reality there is no national market. When a property is purchased, it is being purchased in a specific neighborhood, in a specific city, in a specific province/state and in a specific country. As such, the market needs to be analyzed at a local level and on regular basis.

2013 will be a year of opportunities; the key to unlocking them is to stay focused on your ultimate financial goal. Your goal will give you your why; as in why you are doing what you are doing. Although you may adjust your ultimate goals over time, it should not change because of shifts in the market.