BCREA

Canadian Real GDP 2021

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Canadian Real GDP Growth 4th Quarter 2020 – March 2, 2021 The Canadian economy expanded at a 9.6 per cent annual rate in the fourth quarter of 2020. Growth was led by increased government spending, business investment and investment in new home construction and renovations as well as a large change in business inventories as […]

BCREA

Transparency Declaration 2020

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On November 30, 2020, the Land Owner Transparency Act1 (LOTA) came into effect, and with it, the Land Owner Transparency Registry (LOTR). Now, with every change in title to a property in British Columbia, a transparency declaration must be filed with the Land Title and Survey Authority of British Columbia (LTSA). Individuals acquiring an interest […]

BCREA

Transactions Involving Cannabis 2020

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It has now been over two years since Canada moved to legally regulate the production and sale of cannabis for recreational use. While households can legally have up to four cannabis plants each, with exceptions made for those who have a license to grow medical cannabis, questions remain about the duties of real estate agents […]

BCREA

Mortgage Stress Test 2020

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The advocacy of BCREA and other stakeholders has resulted in the Federal Minister of Finance Bill Morneau announcing changes to the mortgage stress test. The stress test is used to determine the minimum qualifying rate for mortgages. The new benchmark rate will be the weekly median five-year fixed insured mortgage rate from mortgage insured applications, […]

BCREA

Liability Insurance for Strata Properties 2019

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Many strata owners do not know they may be personally liable to reimburse their strata corporation for its insurance deductible, the portion of the loss the insured must pay in an insurance claim, which can be many thousands of dollars. The British Columbia Law Institute’s formidable committee of strata experts (the “Committee”) recently recommended changes […]

Blog

Where to put your money when renovating.

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Kitchen renovation has greatest potential to boost a property’s sale price Prospective sellers likely to spend less than 2.5% of a home’s value on home improvement TORONTO, JUNE 28, 2018 – According to a cross-Canada survey of over 750 Royal LePage real estate experts, a kitchen renovation is the clear upgrade of choice with the potential […]

Blog

Staging Tips To Consider

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You are ready to sell your home but aren’t sure where to start? Staging your home is a great place to start. Whatever your budget there are many options for you from hiring a staging professional to going through magazines or online for some great staging tips. The “National Association of Realtors” says that 99% of  […]