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New listing Alert : check out this North Vancouver Condo
Kerri Demski is a licensed REALTOR® in the province of British Columbia. Call us for more information on this listing.
We just finished uploading this beautiful new condo in North Vancouver, BC.
# 303 719 W 3rd Street, North Vancouver
For questions, please contact Kerri Demski 604-971-1967 or Robert Fyfe 604-621-2010
About Kerri Demski & Robert Fyfe
North Vancouver-based Kerri Demski and Robert Fyfe of RE/MAX crest work together to provide the absolute best service for their clients. Whether buying a condo in North Vancouver or selling your home in the West Vancouver, Robert and Kerri will put your needs first to make your transaction successful. If you're considering selling a home in North Vancouver and are looking for a team of top REALTORS® please give our team a call.
Simplified, what does the new budget mean for our real estate market?
It is important to note that the First Time Home Buyer PTT exemption for RESALE properties remains unchanged and capped at 475K (sliding scale to 500k).
Property Transfer Tax (PTT)
• a New Housing exemption will apply to newly built homes or newly subdivided units priced up to $750,000, saving buyers up to $13,000; and
• a partial exemption will apply on newly built homes priced $750,000 to $800,000.
• a new 3% PTT rate will apply to the portion of a home sale that exceeds $2 million. For homes that sell for below $2 million, the PTT will continue to apply at a rate of 1% on the first $200,000 and 2% on the balance.
These changes take effect today February 17, 2016. A…
Decade low inventory levels across all property types ignites an aggressive real estate market in Vancouver. Whether you're looking for a detached home, townhouse or a condo, chances are you'll find yourself in multiple offers so be prepared.
After a record setting 2015 where home sales were the highest in REBGV history, we're headed for a strong 2016. January sales are up by almost 32% compared to January 2015 and new listing inventory is down by 6%.
“Fundamental economics are driving today’s market. Home buyer demand is at near record heights and home seller supply is as low as we’ve seen in many years,” Darcy McLeod, REBGV president said.
If you’re contemplating a purchase this spring/summer it might be a good idea to start looking now to…
Wow... the highest number of detached sales in North Vancouver for February since 2002. Yep, I said 2002. There were 124 detached sales in February 2015 compared to 94 in 2014 and 137 in 2002. The least number was 46 in 2009. Coupled with low inventory, relative to the level of demand, multiple offers are commonplace in both North and West Van for detached homes, now trickling into the townhouse and condo markets as well.
However, not EVERYTHING is selling for higher than the asking price. The detached market saw 57 out of 124 homes selling at or over list price (from 3k to 160k); townhouses 25 out of 53; and apartment condos saw 31 out of 94.
“It’s an active and competitive marketplace today. Buyers are motivated and homes that are priced…
The West Vancouver market had a very different experience where only 9 of 62 detached sales resulted in multiple offers however, prices continue to rebound and are up by 6.8% over last year and 1.7% over last month. While condos prices are down by -1.6% over last…
In North Vancouver prices are up across all property types this February compared to last. Detached by 2.6%, townhouses by 0.6% and condos by 1.3%. West Vancouver notably experienced a 7.2% increase in detached pricing.
Sales in North Vancouver are up considerably as well with the most significant being townhouses by 47%, condos by 36% and detached by 26%. In saying that, we've noticed a large number of sales being posted over the last few weeks for single family homes so I would expect this number to bump up for March.
Supply is generally down... buyers in the detached market don't have as much to choose from which is unfortunate. If this trend continues as more purchasers enter the real estate market this spring, we will see an upward pressure…
First-time home buyers received long awaited and welcome news yesterday when the provincial government released the new budget. Effective for properties registered on or after February 19th, under the First-Time Home Buyers Program, you can now purchase a home worth up to $475,000 without incurring PPT (Property Transfer Tax). They have also continued the partial exemption which now applies to homes valued between $475,000 to $500,000.
What could this mean for you? Up to $7500 that you can put back in your pocket. Or maybe instead of buying a condo, you can now qualify to purchase a townhouse, or instead of an attached property... you can qualify for a detached home.
The Real Estate Board of Greater Vancouver along with the BC Real Estate…