REALTORS of BC Vote Gets Rejected
Posted on Dec 09, 2016 in Real Estate News
A Letter from BCREA President Deanna HornDear BC REALTORS®Today, at Special General Meetings held at six real estate boards, REALTORS® showed up in record numbers to vote on whether to participate in the proposed amalgamation of six real estate boards and the BC Real Estate Association into a new single organization, called REALTORS® of BC. Over 67...
Recent Groundwater Regulations
Posted on Nov 28, 2016 in Real Estate News
BC’s Water Sustainability Act now in effect
If you divert and use groundwater for non-domestic purposes, you must now obtain a water license and pay water fees and rentals. This change came into force with the Water Sustainability Act (WSA) on February 29, 2016. Groundwater licensing establishes equity between stream water and groundwater users, and...
BCREA News Realease
Posted on May 13, 2016 in Real Estate News
BC Home Sales Continue to Smash Record Book
Vancouver, BC – May 13, 2016. The British Columbia Real Estate Association (BCREA) reports that a record 12,969 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in April, up 30.3 per cent from the same month last year. Home sales last month beat March’s record of 12,560 units. T...
Changes to Property Transfer Tax
Posted on Feb 17, 2016 in Real Estate News
The BC Minister of Finance has announced several changes to the Property Transfer Tax program, effective Wednesday February 17, 2016, which include:
- a property transfer tax exemption for all buyers, not just first-time buyers (Canadian citizens and permanent residents) who purchase newly-built homes, condos and townhouses under $750,000. Purchasers...
Movie About Housing Crash Hits Theaters
Posted on Dec 31, 2015 in Real Estate News
The Big Short
The movie of the Michael Lewis book The Big Short hit movie theaters across Canada over the holiday weekend, following a limited release earlier in the month. It stars Christian Bale, Steve Carrell and Brad Pitt and charts the build-up of the housing and credit bubble and a group who saw it coming and set out to profit from it. The mov...
The movie of the Michael Lewis book The Big Short hit movie theaters across Canada over the holiday weekend, following a limited release earlier in the month. It stars Christian Bale, Steve Carrell and Brad Pitt and charts the build-up of the housing and credit bubble and a group who saw it coming and set out to profit from it. The mov...
Changes coming to Minimum Down Payment
Posted on Dec 15, 2015 in Real Estate News
BCREA ECONOMICS NOW:
The Canadian government announced today that it is increasing the minimum down payment on insured mortgages from 5 per cent to a two tiered system under which the minimum down payment on houses priced above $500,000 will remain at 5 per cent, but there will be an additional 10 per cent required on the portion of the house price...