Archives for November 2012

Top 3 Reasons to Buy Now

  One of the most common catch phrases, veteran investor Paul Kondakos hears from Canadians reluctance to invest in real estate is "It’s not a good time." Ah, but it is, he writes in this Top 3 list of reasons to commit. That catch phrase is a very vague statement that can be interpreted to mean either (a) it’s not a good time for me personally to invest or (b) it’s not a good time to invest in the real estate market. Granted that there may be circumstances that preclude certain individuals from investing in real estate for any number of reasons, but for the rest of you out there, "it’s not a good time" is a statement that can end up costing you tens of thousands to hundreds of thousands of dollars in potential real estate gains in the long term. In fact, I believe "it’s always a good time" to invest in real estate (and let me be clear that I am talking about investing in cash-flowing real estate and not talking about speculating in real estate hoping for future … [Read more...]

LiveSmart BC Incentives up to $7K

LiveSmart BC LiveSmart BC helps British Columbians make green choices that save money at home, at work and on the road. Be part of the solution. LiveSmart: You Choose, You Save. This is a program offered by the Province that runs until March 31, 2013 with incentives of over $7000 in rebates.   Efficiency Incentive Program Tens of thousands of British Columbians are saving energy and money because of their participation in the LiveSmart BC: Efficiency Incentive Program. You can join your neighbours across B.C. who are saving money and reducing energy use by accessing these incentives. Click here to begin the six steps to savings. August 1st UPDATE: LiveSmart BC Rebate payments LiveSmart BC has completed processing a significant portion of the 2011 incentive payments and expects to have mailed all outstanding payments to customers with post-retrofit assessments up to April 30, 2012 this month. If you have questions or concerns, please contact our call centre … [Read more...]

Building or Buying a New Home?

A recent update from the Realtors Legal Update course...It seems they are trying to tighten the requirements of new home builders / Warranty.   Building or buying a newly built house? Under the Home Protection Act, builders (developers and Owner builder) and buyers should be aware of the requirements under the Act. The major conditions of the Act are as follows: All new homes must be built by an HPO (Home Protection Office) licensed residential builder All new homes must be covered by home warranty insurance or there must be an exemption from these conditions pursuant to the ACT To legally offer to sell a new and never occupied home a developer must be a licensed residential builder The most common exemption from the conditions is the Owner-Builder Authorization. A potential owner-builder must apply and qualify through the HPO. The owner-builder must: Be an individual, personally own the land and be the builder of the house (either directly or act as the … [Read more...]

Building Permit Stats

Canadian Building Permits - November 5, 2012 Canadian building permits fell 13.5 per cent in September following a 9.5 per cent rise in August. The decline in permits was primarily driven by a drop in non-residential permitting activity. Construction intentions in BC jumped 14.5 per cent in September, leading all provinces. The total dollar volume of permits exceeded $1 billion for the second time in the past three months, led by continued strength in non-residential permitting activity, which jumped 44 per cent month-over-month and 163 per cent year-over-year. September residential permits were 4 per cent lower compared to August, but were 14 per cent higher than September 2011. Permit activity was markedly higher in three of BC's four major metropolitan areas. Vancouver saw total permits increase 21 per cent month-over-month and 81 per cent year-over-year in September. Abbotsford permits tripled from August levels and were more than doubled year-over-year. Victoria recorded an … [Read more...]