For $58.8 million, you can own this massive waterfront property designed by Russell Hollingsworth. The most expensive home for sale in Canada is sitting on the West Vancouver waterfront.

For $58.8 million, you can buy the property at 3330 Radcliffe Ave., located in the West Bay neighbourhood. At nearly 10,000 square feet, the five-bedroom, six-bathroom structure was custom designed by reputed architect Russell Hollingsworth, son of West Coast Modern legend Fred Hollingsworth. 

Evocative of that style, the home is perched on a rock face with more than 200 feet of shoreline. Banks of floor-to-ceiling windows offer continuous views to the roiling ocean, backdropped by Stanley Park and Point Grey.

The gated property features an oceanside swimming pool, outdoor spa, covered dining terrace and parking garage for four vehicles. click here to buy

(Story by Nick Laba North Shore News)

While the changes will make it easier for first-time buyers to purchase a home, they could wind up paying tens of thousands of dollars more in interest.

New federal rules would help homebuyers access lower mortgage rates for pricier properties and pay smaller instalments over a longer time period, but the changes would also allow borrowers to take on more debt and pay more interest on it.

Under the coming regime, set to take effect Dec. 15, buyers will be able to get a mortgage with default insurance – which is mandatory for those with less than 80 per cent of equity in their home – for properties worth as much as $1.5-million, up from a cap of $1-million.

The federal government, which announced the new rules Monday, will also allow first-time homebuyers to take a maximum of 30 years to repay an insured mortgage on any type of home. And all buyers, including investors, will have access to 30-year mortgages if they are buying a newly built home. Until recently, buyers with less than 20-per-cent down could take a maximum of 25 years to repay their debt. click here to read more

Article C/O North Shore News | Globe & mail 

Upstairs, downstairs: condo owner sues both neighbours over noise

After losing four small claims court cases Linda Woo was ordered to pay $50 to neighbour she accused

A year after unsuccessfully suing her downstairs neighbour for making too much noise, a B.C. woman has also failed in a bid to sue her upstairs neighbour for being too loud.

A small claims court rejected Linda Woo's claim against upstairs neighbour Lorenzo Bruno last week — instead ordering the Burnaby woman to pay Bruno $50 recompense for "unreasonable ceiling-tapping and cupboard-slamming" she made in response to his alleged noise making.

The B.C. Civil Resolution Tribunal decision is the latest chapter in a strata saga that spans years, involving multiple complaints to both the strata council and police, who described Bruno's noises at one point as him just "going about his life."

CLICK HERE TO READ MORE

2910 Park Lane SOLD, World Class Waterfront on Altamont Beach Record sale along Altamonts most exclusive enclave of Waterfront Homes in West Vancouver Real Estate. Sold By Holly Calderwood. 

The 2nd highest MLS waterfront sale in West Vancouver’s history at $21,500,000. 

Highest Sale on the MLS in West Vancouver for a Female Realtor.

CLICK HERE TO FIND OUT MORE

Contact Holly Calderwood. Your Trusted West Vancouver Waterfront Expert to Buy or List your Waterfront home. 604-561-9699

The big sell: This two-bedroom False Creek condo not only has a sought-after freehold status but a waterfront position to boot with marina, downtown and mountain views from its location above the seawall. With more than 1,100 square feet of interior living space, the principal reception rooms can accommodate house-sized furnishings including a king-sized bed in the primary bedroom, while the 170-square-foot patio bathes in the picture postcard scenery. 

Click here to read more 

This West Vancouver condo was snapped up after just one day on the market in this listing. The big sell: It took just one day for this West Vancouver view home to be snapped up with a sale price just north of $5,600,000.

Located in Dundarave’s Bellevue tower, the two-bedroom condo certainly lives up to the name of the complex with southwesterly ocean vistas that span UBC to the Gulf Islands from its corner-unit position. Constructed by Cressey, the four-year-old development offers an indoor lap pool, steam and sauna rooms, a fitness centre, a yoga/Pilates studio, and 24-hour concierge services. click here to read more 

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.

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, land, refugee claimants commercial properties and international students who meet certain criteria. Whistler is exempt from the Foreign Buyer Ban click here to search all Whistler Listings that we can help you buy.

Here's what you need to know about the amendments to the Foreign Buyer Ban.

Repealing existing provision so the prohibition doesn’t apply to vacant land.
Repealing section 3(2) of the regulations, so the prohibition does not apply to all lands zoned for residential and mixed use. Vacant land zoned for residential and mixed use can now be purchased by non-Canadians and used for any purpose by the purchaser, including residential development. Contact me to find out where and what you can buy as a Foreign Buyer. READ MORE

Bank of Canada cuts key interest rate again, more cuts 'reasonable' if inflation keeps easing.

The Bank of Canada cut its key interest rate to 4.5 per cent on Wednesday, with governor Tiff Macklem saying during a news conference that it would be reasonable to expect further rate cuts if inflation continues to ease.

The cut was widely expected by economists after inflation eased in June. It marked the central bank's second consecutive cut after last month's meeting, when it cut rates for the first time since March 2020.

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BC Government Responds to Industry Feedback on Residential Tenancy Act Changes
In the immediate wake of publicly voiced concern from the BC Real Estate Association (BCREA), the BC Government has reversed course on two recent changes to the Residential Tenancy Act (RTA) as they relate to buyers of tenanted properties.

The initial changes laid out in Bill 14, which came into effect on July 18, 2024, required four months' notice – instead of the previous two months' notice – for evictions due to personal or caretaker use. The legislation also raised the dispute period from 15 days to 30 days.

Now the government is amending the regulation to lower the personal-use notice period to three months and the dispute period to 21 days for situations when a landlord gives notice to a tenant on behalf of a purchaser. These changes come into effect on August 21, 2024.

As you navigate the complexities of selling tenant-occupied properties, it's crucial to be aware of the latest regulations, including Bill 14 Tenancy Statutes Amendment Act, 2024, and best practices to ensure compliance and protect all parties involved. Here are the key points you need to know.

Key Changes Effective July 18, 2024

Mandatory Use of Landlord Use of New Web Portal:

Landlords must use this portal to generate Notices to End Tenancy for personal or caretaker use. Landlords using the website portal will be required to have a Basic BCID to access the site. The portal will require landlords to provide details about the persons moving into the home. The details of the new occupant of the home will be shared with the tenant. While using the website portal, landlords will be given information about the required conditions for ending a tenancy and the penalties associated with ending the tenancy in bad faith. They will also be informed about the amount of compensation they will be required to issue to tenants when ending a tenancy.

Occupancy Requirements:

The individual moving into the property must occupy it for at least 12 months.

Landlords found to be ending a tenancy in bad faith could be ordered to pay the displaced tenant 12 months’ rent. CLICK HERE TO READ MORE 

Metro Vancouver suffers a double whammy in regard to outrageous house prices. It's a gateway city for foreign capital. And it's located in a country that compounds unaffordability through unrivalled population growth.

This phenomenon has been captured by Josh Gordon of McMaster University and economist David Williams of the Business Council of B.C. Their research counters past accusations by politicians, real-estate industry executives and pundits that it is xenophobic to suggest such a thing.

And now the Bank of Canada and countless others are recognizing that overall Canadian prices and rents are exaggerated compared to other well-off countries — largely because of Canada’s unprecedented population growth, almost all of which comes from international migration.

Let’s start with a closer look at how the Vancouver region became such an outlier. READ MORE