Declaration period to Begin for BC Speculation & Vacancy Tax ...
Here is important, time sensitive information on the completion of a declaration and registration of an exemption regarding the speculation and vacancy taxation.... click on the link below for detailed information....
Speculation & Vacancy Tax declaration - click here
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BC Home Sales Continue at Slower Pace
Vancouver, BC – December 14, 2018. The British Columbia Real Estate Association (BCREA) reports that a total of 5,179 residential unit sales were recorded by the Multiple Listing Service® (MLS®) across the province in November, down 33.1 per cent from the same month last year. The average MLS® residential price in BC was $718,903, a decline of 1.9 per cent from November 2017. Total sales dollar volume was $3.7 billion, a 34.3 per cent decline from November 2017.
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The British Columbia Real Estate Association (BCREA) is the professional association for about 23,000 REALTORS® in BC, focusing on provincial issues that impact real estate. Working with the province's 11 real estate boards, BCREA provides continuing professional education, advocacy, economic research and standard forms to help REALTORS® provide value for their clients.
To demonstrate the profession's commitment to improving Quality of Life in BC communities, BCREA supports policies that help ensure economic vitality, provide housing opportunities, preserve the environment, protect property owners and build better communities with good schools and safe neighbourhoods.
For detailed statistical information, contact your local real estate board. MLS® is a cooperative marketing system used only by Canada's real estate boards to ensure maximum exposure of properties listed for sale.
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Zoning By-Law changes for cannabis
approved by Council
(December 11, 2018 ... News)
Vernon City Council has approved the changes to the Zoning Bylaw to permit cannabis sales, processing and cultivation in many of its commercial and industrial zones....
Click Here - for full story........
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A complimentary introduction to the Real Estate Council of British Columbia's new requisite form meant to inform consumers about the types of representation they may receive from a REALTOR in a real estate transaction.
Helping You is What We Do!
Click Here - Disclosure of Representation in Trading Services
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BC Home Sales to Rise in 2019
BCREA 2018 Fourth Quarter Housing Forecast
Vancouver, BC – November 8, 2018. The British Columbia Real Estate Association (BCREA) released its 2018 Fourth Quarter Housing Forecast today.
Multiple Listing Service® (MLS®) residential sales in the province are forecast to decline 23 per cent to 80,000 units this year, after recording 103,768 residential sales in 2017. MLS® residential sales are forecast to increase 12 per cent to 89,500 units in 2019. The 10-year average for MLS® residential sales in the province is 84,800 units.
To read the entire article - click here..
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New Legislation makes it clear: Farmland is for Farming.......
Legislation introduced on Monday, Nov. 5, 2018, makes it clear that land in the Agricultural Land Reserve (ALR) is for farming and ranching in British Columbia, not for dumping construction waste or building mega-mansions.
To read the entire article, see below....
Click Here to read entire Article
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The British Columbia government has introduced legislation to tackle speculation in B.C.'s housing market and help turn empty properties into homes for people...
When a property has been involved in drug production, it can pose serious health and safety risks to the public resulting from mould, chemicals thrown out in the backyard, electrical fires and invasion by criminals looking for drugs, even if the property is no longer being used for drug production. It’s important for members of the public to be informed if a property they are interested in moving into was ever identified as having a history of drug production. Unfortunately, there is no consistency across the province on how municipalities make this information available, nor is there a provincial standard of remediation for buildings used to produce drugs.
The British Columbia Real Estate Association (BCREA) reports that a total of 8,837 residential unit sales were recorded by the Multiple Listing Service® (MLS®) across the province in May, a 28.7 per cent decrease from the same month last year. The average MLS® residential price in BC was $739,783, down 1.7 per cent from May 2017. Total sales dollar volume was $6.54 billion, a 30 per cent decline from May 2017.
On June 15, 2018, changes to Rules under the Real Estate Services Act that dictate how REALTORS® work with consumers will come into effect. The Rules, mandated by the Office of the Superintendent of Real Estate (OSRE) and finalized on April 27, 2018, have been amended to ensure that REALTORS® make adequate disclosures, so that consumers can make informed decisions
“Since the new Rules were finalized six weeks ago, BCREA has been hard at work to update our Applied Practice Courses for new licensees, continuing education courses and nearly two dozen standard legal forms that have been impacted by the changes,” said British Columbia Real Estate Association (BCREA) CEO Darlene Hyde. “The new rules governing real estate practices mark a significant shift in how REALTORS® in BC work with their clients. It’s important that consumers know what to expect when the changes come into effect.”
Did you know you may be eligible to defer your property taxes?
Property tax deferment is a provincial low-interest loan program that helps qualified homeowners pay their annual property taxes on their principal residence.
The Regional District of North Okanagan wishes to inform customers of Greater Vernon Water (GVW) that the Kalamalka Lake water source was turned off on Saturday April 21, 2018 due to increased turbidity in the water.
New Mortgage Qualification Rules Temper Housing Demand
Vancouver, BC – March 14, 2018. The British Columbia Real Estate Association (BCREA) reports that a total of 6,206 residential unit sales were recorded by the Multiple Listing Service® (MLS®) across the province in February, a 5.7 per cent decrease from the same period last year. The average MLS® residential price in BC was $748,327, up 8.8 per cent from the previous year. Total sales dollar volume was $4.64 billion, a 2.6 per cent increase from February 2017...
Vancouver, BC – March 9, 2018. The British Columbia Real Estate Association (BCREA) released its 2018 First Quarter Housing Forecast update today.
The Speculation tax will target foreign and domestic speculators in BC. These are homeowners who have removed their units from BC's long-term housing stock - meaning they are not owner-occupied or a qualifying long-term rental property...
Vancouver, BC – February 15, 2018. The British Columbia Real Estate Association (BCREA) reports that a total of 5,306 residential unit sales were recorded by the Multiple Listing Service® (MLS®) across the province in January, an increase of 18.3 per cent from the same period last year. The average MLS® residential price in BC was $721,477, up 16.2 per cent from the previous year. Total sales dollar volume was $3.83 billion, a 37.4 per cent increase from January 2017. Click on the link below to hear the full Housing Update....
BCREA Housing Update for Feb 2018
Click here for all the details
The Province is raising the 2018 homeowner grant threshold to $1.65 million, ensuring the same percentage of British Columbia homes are below the threshold as in 2017...
Vancouver, BC – October 12, 2017. The British Columbia Real Estate Association (BCREA) reports that a total of 8,340 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in September, an increase of 9.9 per cent from the same period last year. Total sales dollar volume was $5.8 billion, up 30.2 per cent from September 2016. The average MLS® residential price in the province was $693,774, up 18.5 per cent from September 2016.
http://www.bcrea.bc.ca/news-and-publications/news-room/news-releases/2017-09-statistical-release
The latest numbers from Statistics Canada from June 2017, indicate a 5.3% increase over the same month in 2016, resulting in 35,000 more visitors arriving in B.C. The total year-to-date international overnight custom entries to B.C. are up 4.1%.
Vancouver, BC – August 14, 2017. The British Columbia Real Estate Association (BCREA) reports that a total of 9,275 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in July, down 6.3 per cent from the same period last year. Total sales dollar volume was $6.48 billion, down 1.3 per cent from July 2016. The average MLS® residential price in the province was $698,761, a 5.3 per cent increase from the same period last year.
http://www.bcrea.bc.ca/news-and-publications/news-room/news-releases/2017-07-statistical-release
Vancouver, BC – May 15, 2017. The British Columbia Real Estate Association (BCREA) reports that a total of 9,865 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in April, down 23.9 per cent from the same period last year. Total sales dollar volume was $7.19 billion, down 25.4 per cent from April 2016. The average MLS® residential price in the province was $728,955, a 2 per cent decrease from the same period last year.....
http://www.bcrea.bc.ca/news-and-publications/news-room/news-releases/2017-04-statistical-release
Housing Supply Not Keeping Pace With Demand in Most BC Regions...
Vancouver, BC – June 13, 2017. The British Columbia Real Estate Association (BCREA) reports that a total of 12,402 residential unit sales were recorded by th
e Multiple Listing Service® (MLS®) in May, down 7.9 per cent from the same period last year. Total sales dollar volume was $9.33 billion, down 4.0 per cent from May 2017. The average MLS® residential price in the province was $752,536, a 4.2 per cent increase from the same period last year....
