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"Ordinarily Inhabited"... Principal Residence Exemption Abuse?

August 30th, 2016
Families need homes. Investors on the other hand often like some kind of house that sits on larger land. 
Families anchor themselves in neighbourhoods to their liking to bring up children and the space in a home is of prime importance to them. Investors prefer to make money.

With these assumptions in mind, I examined the data in one Richmond neighbourhood from 2014 to date for every listing tha ...

Richmond Real Estate Report August 28, 2016

August 28th, 2016
I am just now reviewing the statistics compiled on my last post of August 26 and the following data highlights the problem with making hasty predictions based on data which is "too early" and incomplete.

As I wrote, Realtors are required by the Board to file their sales reports within 5 days of the transaction going "firm", i.e. subject removal.  Looking over the last 26 days since the new pro ...

Richmond Real Estate Market Report-August 26, 2016

August 26th, 2016
Reviewing market activity in the aftermath of August 2, 2016 being the effective date of the new 15% Foreign Buyers Tax is one way to determine the effect it has had on the real estate market.  Richmond is one of the more sensitive Lower Mainland areas to foreign buyers and offers a good litmus test for the tax's effect on the greater market.
Here is a table of the active reporting days in Aug ...

A Vancouver Real Estate Market Crash: Really?

August 17th, 2016
I have found that people who own a lot of real estate do not spend time blogging about the impending "bubble" bursting. Those who do this are the ones who don't have the most to lose if that happens.  It is not difficult to see why.

An old expression I've heard many times, is that those that can do, and those that can't teach. There probably is a negative market bias in all the media and blogs ...

Richmond Real Estate Report-Post New PTT

August 14th, 2016
The rules for members of the Real Estate Board of Greater Vancouver, require that contracts of purchase and sale that have had all subject conditions removed must be posted as "sold" within 5 days of the removal of those subject conditions.

This makes sense.  Nobody likes Craiglist or real estate ads that still run even though the property has been sold.  It also ensures that Realtors and the ...

Strata Bylaw Rental Restrictions:Enforceability

August 12th, 2016
Sifting through investment properties is often tedious.  Not every Realtor has access to a strata's bylaws at the very start of his mandate.  Sometimes the documents take time to obtain.  Accordingly, a computer filtered search requesting "rentals, no restrictions, or rentals-some restrictions" may not yield accurately described listings.

Buyers are cautioned to review strata Bylaws themselves ...

Top 10 Rated Schools in Richmond

August 7th, 2016
A quick look through Richmond's public school rankings for both elementary and secondary schools shows the Lackner area as one of the strongest neighbourhoods for buyers looking for quality public schools.  When private, or independent schools are figured in the results get even better.


Fraser Institute Top 10 Rankings of Richmond Public Elementary Schools: 2014-2015

2014-15 Rank R ...

Can the New 15% PTT Frustrate Real Estate Contracts?

August 7th, 2016

Below are a few thoughts on this question. I am not attempting to provide legal advice here. My question is, what affect will the imposition of the new 15% offshore buyer tax have on real estate contracts that were executed prior to the announcement of this tax but which are intended to complete after August 2, 2016?   Can it be argued that such a tax legally frustrates the contract?

The iss ...

5375 MAPLE ROAD, Richmond, BC

August 6th, 2016

Desirable location with 2,725 sqft home features 4 Bedrooms + Den/Bedroom, 3 baths, 2 fireplaces, 6 years old roof. The master bedroom comes with double sink and Jacuzzi. Good size garden for your idea. Short walk to Jessie wowk & Richmond Christian elementary school.

Check out all of the details of this House for sale, 5375 MAPLE ROAD, Richmond, BC

 

9428 LAKA DRIVE, Richmond, BC

August 6th, 2016

Welcome to prestigious Lackner neighbourhood. Spacious house with a terrific layout and large rooms. New roof in 2010. Close to Wowk Elementary, Christian Elementary School, Dixon and Diefenbaker French immersion elementary, Steveston-London High School. Minutes away from Blundell shopping center which includes Safeway, Banks, Starbucks, restaurants and medical offices. All measurements are a ...

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