Monday, August 22, 2011

Shelter Taxes

Shelter Taxes - PTT and HST

Property Transfer Tax - currently is a 1% on the 1st $200,000 and 2% on the remainder. Currently the BC Realtors Assoc is trying to have the PTT threshold increased from $200,000 to $525,000 with the 2% applying to the remainder of the fair market value.

Index the HST new housing rebate threshold from $525,000 to what the current New Housing Price Index dictates.

Index the 1% PTT threshold of $525,000 using the New Housing Price Index, and make adjustments annually.

My take on this..... These changes will allow consumers to have a more cost-effective way of making a home purchase... Especially true for 1st time home buyers, with the taxes being less this will allow a larger number of buyers to take the leap and will positively affect the economy. This economic boast will also help increase home values for current home owners.

Friday, August 19, 2011

Friday, August 5, 2011

Most Expensive Markets in North America

Vancouver is 3rd in north america behind Newport Beach and Pacific Palisades.

An average 4bed, 2 bath home is $1.55million in Vancouver and only $144,456 in Windsor Ont!

In Canada, Vancouver (1.55million) is the most expensive market, followed by Kelowna ($1.1million), Burnaby ($797,455), Fort McMurray ($652,382) and West Kelowna ($640,055) these are the average for the 4 bed, 2 bath house in these areas. Victoria is around the $628,297 mark.

Note that average prices are based on all areas of the city, so the higher priced areas are factored in which tends to bump up the average value.

To put the value of buying in Windsor Ont, you would pay $617 per month on the $144,460 4bed, 2bath house. That's with 20% down and 5% rate in 30yr amortization.

If you have any questions about the value of your home and would like a free home market evaluation, please call me at 250.884.3980 or visit my site,