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Blog by Linda M Linfoot

Market Commentary - Feb 29, 2016

February 29th, 2016
Market Commentary

For the second time in a month a piece of unexceptional Vancouver real estate has sold for a stunning amount of money.

Last week a three bedroom home on a, so called, standard lot in Kitsilano sold for a record-breaking $4.23 million, $735,000 over asking. About 10 days earlier a shabby, little tear-down in Grey Point sold for nearly $2.5 million, some $800,000 over asking. ...

Market Commentary - Feb 17, 2016

February 17th, 2016
Market Commentary

New federal mortgage rules are now officially in effect, but most market watchers don't expect to see much change.

Just to recap: Ottawa has boosted the minimum down payment on insured mortgages valued at $500,000 to $999,000. In order to get mortgage insurance the down payment on the value above $500,000 is now 10%. The down payment on the value below $500,000 remains at 5% ...

Today's PTT Annoucement

February 16th, 2016
Today PTT announcement - the Tax increases to 3% for the fair market value over $2 million.

Please be advised the Finance Minister today announced changes to the Property Transfer Tax as outlined below.

The following is the information we have at the moment. As more information becomes available I will get it to you.

Newly built homes priced up to $750,000 will be fully exempt from the proper ...

Market Commentary - Feb 11, 2016

February 12th, 2016
Market Commentary

Concerns about housing affordability are coming to a head across the country. Last week 20 of Canada's big city mayors were in Ottawa for pre-budget meetings with the Prime Minister and federal cabinet ministers. Affordable housing was a key item on the agenda.

The mayors are linking affordable housing – meaning social housing – to the Liberal government's promised infrastru ...

What's coming for Canada's Economy

February 10th, 2016

What’s coming for Canada’s economy

This month, VERICO economist Michael Campbell gave us an overview into the current state of the Canadian economy and what you should be aware of.

Below is an except from Michael’s report. ~

After continually underestimating the impact of falling resource prices – especially oil, the Bank of Canada has come to realize that this is a major restructuring of the ...

Market Commentary - Feb 3, 2016

February 3rd, 2016
Market Commentary

Canada's priciest real estate market has found its way onto another top-10 list.

Vancouver ranks as the third least-affordable city in the world according to Demographia. (www.demographia.com) Hong Kong and Sydney came in at one and two. Toronto did not make it into the top-10, although it ranks as the third least-affordable market in Canada. (The study uses a comparison of ...