Appraisal Approaches to Value
Appraisal Approaches to Value There are three approaches appraisers and real estate professionals use to a value a property. Sales Comparison Approach This approach is the most commonly used approach in appraisal and sale of residential properties. The sales Comparison Approach uses sales prices as evidence of the value of similar properties. The price at which […]
Investment Value
Investment Value Investment value is the value of the expected benefits of a property to a specific user. This value is based on factors such as individual requirements, investment alternatives, tax rates and the ability to finance the property. Looking to create your investment strategy? I can help with that. If you are looking to […]
What is Market Value of a Property?
What is Market Value of a Property? Market Value of a property is the most profitable price that a property would bring in a competitive and open market. This assumes the following: Buyer and seller are motivated. Both parties are well informed or well advised and acting what they consider to be […]
Commercial Real Estate Terms Your Clients Should Know
A REALTOR® specializing in commercial real estate helps buyers find the right building for their business. Different types of commercial Types of commercial real estate properties include: […]
Homes for the People – Housing Action Plan, BC 2023
Homes for the People – Housing Action Plan, BC 2023 On April 3, Premier David Eby and Minister of Housing Ravi Kahlon released their housing action plan, “Homes For People.” While much of the plan involves many previously announced commitments and plans, there are also new areas of commitment for the provincial government. Below […]
Home Buyers Recession Period
The Home Buyer Rescission period gives home buyers the right to withdraw from a home purchase agreement within three business days after an offer is accepted. The home buyers rescission period, hbrp came into effect in January 2023. This legislation allows for a three-day cooling-off period where a buyer can back out of their residential […]
First Time Home Buyers Savings Account – Here is what you need to know
First Time Home Buyers Savings Account – Here is what you need to know The First Time Home Buyers Savings Accounts are now available. Some institutions aren’t taking deposits for this type of account yet, while others are accepting deposits already. Under the program, first-time home buyers can save $40,000 tax-free towards their home purchase. […]
Foreign Buyers Ban Updates!
Updates for Foreign Buyers Ban The federal government has updated the foreign buyers ban, relaxing the rules. Below is a list of the updates from the foreign buyers ban. Enable more work permit holders to purchase a home to live in while working in Canada. The amendments allow those who hold a […]
Underused Housing Tax – What you need to know!
Underused Housing Tax – in effect as of December 31st, 2022 – What you need to know A new tax has hit the streets and the pocketbooks of Canadians, and it goes by the name of UHT – Underused Housing Tax. If you own an investment property that is registered with land titles as partnership, […]
BC Lacking Enough Housing to Solve Supply Problem
B.C.’s housing inventory lacking ‘right supply’ to resolve affordable housing crisis According to a newly-released Union of BC Municipalities (UBCM) report, B.C.’s housing inventory is keeping up with population growth but lacking the “right supply” to resolve the affordable housing crisis. The report shows that the province’s population grew 7.6 per cent while the number of […]
