Oakwyn Realty Ltd.
Metro Vancouver Real Estate Update: Home sales registered on the MLS® in Metro Vancouver1 rose over thirty per cent in December, compared to the previous year, signalling strengthening demand-side momentum to close out 2024. The Greater Vancouver REALTORS® reports that residential sales in the region totalled 26,561 in 2024, a 1.2 per cent increase from the 26,249 sales recorded in 2023. The MLS® Home Price Index composite benchmark price for all ... Read the Post...
The Provincial government and the xʷməθkʷəy̓əm (Musqueam), Sḵwx̱wú7mesh (Squamish), and səlilwətaɬ (Tsleil-Waututh) (MST) Nations have partnered to give first-time home buyers the opportunity to purchase condos in Vancouver at 60% of their market value. About the Homes A total of 2,600 studios, 1-, 2-, and 3-bedroom homes built at the Heather Lands, located at West 33rdAvenue and Heather Street. These condos will be strata leasehold ... Read the Post...
Last week, the federal government announced new mortgage approval rules aimed at making mortgages more affordable for Canadians. First, as of December 15, 2024, the purchase price threshold for insured mortgages will increase from $1 million to $1.5 million. This means that if you’re purchasing a home for $1.5 million or less, you will no longer be required to have a minimum 20% down payment. The previous threshold for insured mortgage was ... Read the Post...
Should you use a Buyer’s Agent when you are looking to purchase a home? What about a pre-sale property? The answer in short is, YES! Buying a home is the biggest and most expensive life decision you will ever make. Having someone who represents you and looks out for your best interest is very important. The Seller’s agent is there solely to work in the best interest of their client. If you’re thinking of purchasing a home without a ... Read the Post...
Are you currently renting with hopes of becoming a homeowner? Do you have children who are over 18 years old? If so, the new First Home Savings Account could help you and your family get into the real estate market. What is the First Home Savings Account? On April 1, 2023, the government introduced the Tax-Free First Home Savings Account (FHSA.) The FHSA is meant to help make saving money for a down payment easier. In fact, it lets ... Read the Post...
When buying a strata property, there are a number of things that you must review. These are different from when you purchase a single family home. The process can be much more time consuming and requires more attention to details. When buying a strata property you should receive 2-year’s worth of strata minutes. In addition there will be various other strata documents. It is important to carefully read them in order to understand if it is a good ... Read the Post...
What is the BC Home Flipping Tax? The BC Home Flipping Tax came into effect on January 1, 2025. It applies to the net income from properties sold within two years (730 days) of purchase, even if the purchase was made before January 1, 2025. Certain property types and circumstances are exempt from this tax. It is important to note that this tax is separate from/ in addition to the Federal Property Flipping Tax. How is the BC Home Flipping ... Read the Post...
