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Open House. Open House on Sunday, March 3, 2024 2:00PM - 4:00PM

Please visit our Open House at 4580 MARINE DR in West Vancouver. See details here

Open House on Sunday, March 3, 2024 2:00PM - 4:00PM

The FINEST WATERFRONT Modern Luxury Dream Home Ever Built in West Vancouver. A 7000 sqft David Christopher Masterpiece built in 2018 5 bedrms(all ensuited)& 7 bathrms, 3 Fireplaces & a Glass Elevator to transport you to all 3 levels. Spectacular 180 degree unobstructed South Facing Ocean Views from Downtown to UBC. A Grand entryway with wall-to-wall Italian Marble flooring & Biometric Entry. Over-height ceilings, giant skylights and an abundance of Natural Light, & floor-to-ceiling windows. Dream Home Essentials include a fully equipped S/S Gagganeau Dream Kitchen, Large wine fridge, gas range, Wok Kitchen & a Massive Island that's perfect for Entertaining. Rosewood Cabinetry throughout & an Executive Main Floor Office with Jaw Dropping Sunrise & Sunset Ocean Views. 3000 sqft of deck space with an infinity edge hot tub that pours into the resort style pool, designed to reflect the moving ocean below. Built with an impeccable contemporary design. Serene West Coast Nature Setting. Open house Mar 03, (Sun) 2-4 pm

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Open House. Open House on Saturday, March 2, 2024 2:00PM - 4:00PM

Please visit our Open House at 2703 788 RICHARDS ST in Vancouver. See details here

Open House on Saturday, March 2, 2024 2:00PM - 4:00PM

TRES LUXE, TRES CHIC, L'Hermitage, an elegant boutique 5 star luxury residence in the heart of Downtown Vancouver! Meticulously maintained and Grand Lobby entrance. Coveted Original Developer Show home Display Suite. This 1374 sqft Sky Home Condo features Vancouver's most beautiful Panoramic Skyline Views from the North Shore Mountains to English Bay. 2 Bedroom & den (can be a 3rd Bedroom) 2 spa bathrooms, 9-ft ceilings, 2 balconies & 2 Parking. This Air Conditioned open plan Dream Home features a Millenium open kitchen w/ large centre island, Stainless Steel Bosch Appliances & Lg Hood Fan, SubZero fridge, Eggersman German Cabinetry, gas cooktop, limestone counter tops. Two spa inspired marble bathrooms with a deluxe soaker tub. In suite storage. Custom millwork throughout, gorgeous wood paneling, California closets, Automated Lutron Roller Shades, Smart Home System Custom drapery & Bocci lighting. 24 hr Elite Concierge services. Pets & Rentals Allowed.

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FLIPPING TAX, B.C. announces tax on homes sold 2 years or less after purchase

Tax rate will be 20% for properties sold within a year of purchase, sliding to zero over following year


The B.C. government has announced plans to introduce a tax of up to 20 per cent on profits made when properties are sold within two years of their purchase.


The 20 per cent rate will be in place for a year after purchase and will slide to zero between 366 and 730 days after the acquisition.


B.C. Finance Minister Katrine Conroy announced the tax as one of the province's latest tools to try to curb speculation over housing in a province where many struggle to afford appropriate shelter.


"Prices went up as governments stepped back and speculators moved in," said Conroy during her speech presenting her latest budget in the legislature.


"That's why we're bringing in a home-flipping tax as our latest measure to crack down on bad actors."  CLICK HERE TO FIND OUT MORE


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New BC Property Transfer Tax Exemptions Announced April 1 2024 B

New Property Transfer Tax exemptions for first-time buyers and new homes in BC

More specifically, as part of the 2024 provincial budget, three exemption changes are being introduced to the PTT.

Firstly, the threshold to be eligible for the first-time homebuyers’ exemption will be increased from a fair market value of $500,000 to $835,000, with the first $500,000 exempt from the tax. The phase-out range for the complete elimination of the exemption will be $860,000, while properties with a fair market value under $500,000 will be completely exempt. These changes will start on April 1, 2024.

Secondly, the newly built home exemption for purchasers who buy a new home for their principal residence will grow from $750,000 to $1.1 million on the fair market value. Homes with a fair market value between $1.1 million and $1.15 million will see a phase-out range of the exemption. This exemption change will also start on April 1, 2024.

Thirdly, a brand-new PTT exemption will be created for purchases of new qualifying secured purpose-built rental housing buildings, with such buildings required to contain at least four apartment units, be non-stratified, and be used as rentals for at least 10 years, and the residential uses of the building must be entirely used for rental purposes. This specific PTT exemption will apply to transactions for such buildings between January 1, 2025, and December 30, 2030. With home ownership out of reach for many given the elevated home prices, such a policy will help catalyze more “missing middle” rental housing.  Click here to read more

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New property listed in East Cambie, Richmond

I have listed a new property at 42 12500 MCNEELY DR in Richmond. See details here

WELCOME to Prestigious & well managed Francisco Village by Polygon. This Largest Highly Desirable RARE plan is just under 1700 sqft. 3 level Corner unit, 4 bedrooms, 3 bathrooms 2 eating areas, gas fireplace & large 2 car attached garage with lots of storage, In-suite Laundry & mechanical room. Corner unit with Southern Sunny Exposures from your kitchen area & only one neighbour on one side of you. Enjoy the picturesque Mountain Views from the Master Bedroom. Huge window seat in the living room & Master Bedrm perfect for your pets to lounge or bird watch. Original condition & QUICK POSSESSION AVAILABLE. Some photos Virtually Staged to show how it would look updated. Complex has an outdoor pool, hot tub, & club house with gym just outside your door. Live in this highly desirable safe family neighbourhood with top Elementary Kathleen McNeely just steps away with multiple playgrounds & recreation to keep the kids busy & active. Richmond Shopping, Casino, Restaurants, Night markets & more, 30 minutes to downtown.

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Open House. Open House on Saturday, February 24, 2024 2:00PM - 4:00PM

Please visit our Open House at 42 12500 MCNEELY DR in Richmond. See details here

Open House on Saturday, February 24, 2024 2:00PM - 4:00PM

WELCOME to Prestigious & well managed Francisco Village by Polygon. This Largest Highly Desirable RARE plan is just under 1700 sqft. 3 level Corner unit, 4 bedrooms, 3 bathrooms 2 eating areas, gas fireplace & large 2 car attached garage with lots of storage, In-suite Laundry & mechanical room. Corner unit with Southern Sunny Exposures from your kitchen area & only one neighbour on one side of you. Enjoy the picturesque Mountain Views from the Master Bedroom. Huge window seat in the living room & Master Bedrm perfect for your pets to lounge or bird watch. Original condition & QUICK POSSESSION AVAILABLE. Some photos Virtually Staged to show how it would look updated. Complex has an outdoor pool, hot tub, & club house with gym just outside your door. Live in this highly desirable safe family neighbourhood with top Elementary Kathleen McNeely just steps away with multiple playgrounds & recreation to keep the kids busy & active. Richmond Shopping, Casino, Restaurants, Night markets & more, 30 minutes to downtown.

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Open House. Open House on Sunday, February 25, 2024 2:00PM - 4:00PM

Please visit our Open House at 42 12500 MCNEELY DR in Richmond. See details here

Open House on Sunday, February 25, 2024 2:00PM - 4:00PM

WELCOME to Prestigious & well managed Francisco Village by Polygon. This Largest Highly Desirable RARE plan is just under 1700 sqft. 3 level Corner unit, 4 bedrooms, 3 bathrooms 2 eating areas, gas fireplace & large 2 car attached garage with lots of storage, In-suite Laundry & mechanical room. Corner unit with Southern Sunny Exposures from your kitchen area & only one neighbour on one side of you. Enjoy the picturesque Mountain Views from the Master Bedroom. Huge window seat in the living room & Master Bedrm perfect for your pets to lounge or bird watch. Original condition & QUICK POSSESSION AVAILABLE. Some photos Virtually Staged to show how it would look updated. Complex has an outdoor pool, hot tub, & club house with gym just outside your door. Live in this highly desirable safe family neighbourhood with top Elementary Kathleen McNeely just steps away with multiple playgrounds & recreation to keep the kids busy & active. Richmond Shopping, Casino, Restaurants, Night markets & more, 30 minutes to downtown.

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Open House. Open House on Sunday, February 25, 2024 2:00PM - 4:00PM

Please visit our Open House at 4580 MARINE DR in West Vancouver. See details here

Open House on Sunday, February 25, 2024 2:00PM - 4:00PM

The FINEST WATERFRONT Modern Luxury Dream Home Ever Built in West Vancouver. A 7000 sqft David Christopher Masterpiece built in 2018 5 bedrms(all ensuited)& 7 bathrms, 3 Fireplaces & a Glass Elevator to transport you to all 3 levels. Spectacular 180 degree unobstructed South Facing Ocean Views from Downtown to UBC. A Grand entryway with wall-to-wall Italian Marble flooring & Biometric Entry. Over-height ceilings, giant skylights and an abundance of Natural Light, & floor-to-ceiling windows. Dream Home Essentials include a fully equipped S/S Gagganeau Dream Kitchen, Large wine fridge, gas range, Wok Kitchen & a Massive Island that's perfect for Entertaining. Rosewood Cabinetry throughout & an Executive Main Floor Office with Jaw Dropping Sunrise & Sunset Ocean Views. 3000 sqft of deck space with an infinity edge hot tub that pours into the resort style pool, designed to reflect the moving ocean below. Built with an impeccable contemporary design. Serene West Coast Nature Setting. Open Feb. 25 (Sun) 2-4 pm.

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Court Ordered Sales Vancouver British Columbia, What you need to know

COURT ORDERED SALES

This introduction on foreclosure properties in BC will give you some insight into the process of buying a property by way of a Court Ordered Sale, including some of the risks involved. We realize that this is not a “how to” for Court ordered sales; rather, it is an overview of the various components of the process.

WHAT IS A FORECLOSURE PROPERTY?

When a property owner is unable (or unwilling) to repay a mortgage on a property, a lender can apply to the BC Supreme Court for the right to sell that property and recover its investment. Through the foreclosure process the lender can apply for and receive “Conduct of Sale” that will give it control of the sale process and allow it to list the property for sale with a Realtor, market the property and solicit offers. The process is very specifically regulated by the Court, and any ultimate agreement to sell the property must be approved by the Court. These sales are referred to as foreclosures, or Court Ordered Sales.

THE SALE PRICE

As with most other property offerings the terms and conditions of a Contract of Purchase and Sale, including the ultimate sale price, is usually negotiated between the Vendor (lender) and a Purchaser. Having said this, the Lender still has an obligation to be able to show the Court that any sale is based on fair market value and that the property has been adequately and broadly marketed.

Once the Vendor and Purchaser agree to the terms and conditions of a purchaser agreement on a foreclosed property, the sale process is far from being done.

SUBJECT CONDITIONS

An accepted offer on a property, subject to a Court Ordered sale process, can include purchaser’s subject conditions such as due diligence, appraisal, inspection, financing, etc. These sorts of conditions are typical in most real estate transactions and are always recommended so that a purchaser can make an informed decision. A deal, though, also needs to be subject to approval by the Court. The Court approval condition is a third party condition that can only be set in motion once the purchaser’s conditions have been fully satisfied and waived.

Once the contract is non-conditional on the Purchaser’s part, an application can be made for Court approval. A hearing date is set and the parties prepare for approval.

"AS IS WHERE IS"

It is important to note that properties subject to foreclosure and the Court ordered sale process are sold “as is, where is”. Since the vendor is the lender of the property (and not, in fact, the property owner), it cannot be expected to be knowledgeable about the property to the extent that it can make various disclosures, representations or warranties as to the state and condition of that property. In other words, as a prospective purchaser, it’s a very good idea to retain the appropriate experts to undertake due diligence for things such as zoning and development potential, building condition, financing, environmental condition and other relevant inspections. Once the sale is non-conditional (and assuming it is approved by the Court), there is no turning back.

APPLICATION

Once there is a non-conditional agreement between the lender and the purchaser (subject only to Court approval), the solicitor for the lender will schedule a hearing date for the application to be heard by the Court. Applications are typically accompanied by affidavits or reports from the lender, Receiver (where applicable), the Realtor and other parties familiar with the file, that would outline the history of the file, the outstanding balance of the loan, any efforts to collect outstanding balances and marketing efforts that will have been undertaken in order to sell the property for the highest possible price. Depending on the nature of the asset these reports can also include an appraisal and other supporting documentation. The objective of this information is to ensure that the Court is supplied with sufficient background so as to satisfy itself that the proposed sale is, indeed, indicative of fair market value; having been marketed in a comprehensive and generally acceptable fashion. A hearing is typically within 14 days of the application being made to the Court.

PUBLIC DISCLOSURE

An interesting (and sometimes exciting) aspect of the Court approval process in British Columbia is that all of that information supplied to the Court as part of the application process to the Court is available for public scrutiny. The agreed upon sale price will be made public in order to ensure a fair and transparent approval process. Others who have expressed interest in the property will typically have the ability to attend the hearing and observe the proceedings, and even submit competing offers. This means that, unlike the conventional property purchase process, the prospective purchaser with the accepted offer on the property is not necessarily the party who will walk away as the new owner. The hook is though, that any new offers being presented to the Court at the hearing must also be non-conditional and be accompanied by a non-refundable (pending Court approval) bank draft or certified cheque.

THE COURT PROCESS

On the determined Court date, representatives for the vendor and the purchaser (with the now subject-free contract) will attend court, along with any other interested parties or prospective buyers who wish to submit an offer on the property to the Court. In some cases, no new buyers will present themselves in court. In other cases, we have seen multiple offer scenarios develop before our eyes.

If other parties do show up, they will typically be required to submit an offer in a sealed envelope for consideration by the Court. The new offer will obviously need to be higher than the agreed upon sale price between the seller and the original buyer. While this scenario might appear to provide an unfair advantage to the newcomer, it is worth noting that the Court will always allow the original purchaser to revise its offer, if desired.

REVIEWING ALL OFFERS

The Court will consider all of the information before it in making a decision on the approval of an offer. If there are multiple offers the Master (Judge), will then open the offers and will review them… and typically, choose the highest bid. It is important to note that the highest offer on paper might not always be the best offer as the Court will also often take into consideration the amount and status of the deposit, the proposed completion date and other factors that might impact the transaction.

Occasionally, the judge might decide that none of the offers are worthy of approval. This might be the case if, for example, the underlying owner is able to convince the Court that the offer(s) is in fact, below market value or if the Court determines that the property has not been sufficiently exposed to the market.

APPROVAL PROCESS

When the deal is approved, the Court will issue what is known as a “Vesting Order”. The order is the approval by the Court and it provided instruction to the Registrar to effect the transfer of the title of the property to the successful bidder. The Vesting Order also serves to extinguish any and all financial encumbrances that could limit the new owner’s rights under the title. The Vesting Order will not extinguish encumbrances such as access easements, reservations of the Crown, restrictive covenants or other non-financial registrations on the title.

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FOREIGN BUYER BAN EXTENDED

Federal government extends foreign buyer ban on Canadian homes to 2027

Foreign nationals and companies will be banned from buying residential properties in Canada for an additional two years, the federal finance minister said Sunday, the latest in a raft of measures aimed at addressing housing affordability concerns that have dogged the governing Liberals for months.

Chrystia Freeland announced the extension in a statement, saying Canada is extending its foreign homebuyer ban up until 2027.

Under the ban, which came into effect last year and was set to expire at the beginning of 2025, foreign commercial enterprises and people who are not Canadian citizens or permanent residents are prohibited from purchasing residential property in Canada.

There are some exceptions, including for those with temporary work permits, refugee claimants and international students who meet certain criteria.

Non-Canadians found in contravention of the ban would be fined up to $10,000 and ordered to sell the property.

“By extending the foreign buyer ban, we will ensure houses are used as homes for Canadian families to live in and do not become a speculative financial asset class,” Freeland said in the statement.

“The government is intent on using all possible tools to make housing more affordable for Canadians across the country.”

The federal government said it wanted to extend the program by two more years because it knows Canada’s housing challenge will not be solved by the end of 2024, and they want to see how the market changes. A lot of the data linked to this ban remains preliminary, even from the private sector, because it has only been in place for a year, Freeland’s office said. click here to read more






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Open House. Open House on Saturday, February 24, 2024 2:00PM - 4:00PM

Please visit our Open House at 2703 788 RICHARDS ST in Vancouver. See details here

Open House on Saturday, February 24, 2024 2:00PM - 4:00PM

TRES LUXE, TRES CHIC, L'Hermitage, an elegant boutique 5 star luxury residence in the heart of Downtown Vancouver! Meticulously maintained and Grand Lobby entrance. Coveted Original Developer Show home Display Suite. This 1374 sqft Sky Home Condo features Vancouver's most beautiful Panoramic Skyline Views from the North Shore Mountains to English Bay. 2 Bedroom & den (can be a 3rd Bedroom) 2 spa bathrooms, 9-ft ceilings, 2 balconies & 2 Parking. This Air Conditioned open plan Dream Home features a Millenium open kitchen w/ large centre island, Stainless Steel Bosch Appliances & Lg Hood Fan, SubZero fridge, Eggersman German Cabinetry, gas cooktop, limestone counter tops. Two spa inspired marble bathrooms with a deluxe soaker tub. In suite storage. Custom millwork throughout, gorgeous wood paneling, California closets, Automated Lutron Roller Shades, Smart Home System Custom drapery & Bocci lighting. 24 hr Elite Concierge services. Pets & Rentals Allowed.

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Open House. Open House on Friday, February 23, 2024 12:00PM - 2:00PM
No sign allowed - Please call me for access or see you in the lobby 604-561-9699

Please visit our Open House at PH3 1790 BAYSHORE DR in Vancouver. See details here

Open House on Friday, February 23, 2024 12:00PM - 2:00PM No sign allowed - Please call me for access or see you in the lobby 604-561-9699

Live right at Stanley Park. Own this World Class Penthouse located at the most Prestigious address on Bayshore Drive. Surrounded by so much Natural Majestic Beauty. EXPERIENCE the MOST SPECTACULAR PANORAMIC PROTECTED Ocean Mountain & Marina VIEWS IN COAL HARBOUR with all day sunshine. Redesigned by David Lockhart with Timeless European Elegance to ensure open living spaces flow seamlessly throughout. Living Rm/Dining Rm/Great Rm now combined, a perfect square with raised over height 9'2 ceilings & crown mouldings. 3 Bedrooms all en-suited with California Closets, 3 & 1/2 Spa Bathrooms & 5 Balconies equalling 3,000 sqft of indoor/outdoor spaces. Beautiful MARBLE Floors & Countertops. Stunning Millwork & Polished Venetian Plaster Walls. Dream Home Essentials Include Gas Fireplace, New Berber High thread Count Carpets, Dual Zoned Heat Pumps A/C & NEW Bosch D/W, Wall Ovens, Sub Zero Fridge Miele Hood Fan, Gas Cook Top. In Ceiling Sound System 24hr concierge, gym, sauna, 3 parking/1 locker. PERFECT DOWNSIZER CONDO

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