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The big news this month is the British Columbia government's announcement of changes to the Harmonized Sales Tax (HST) effective April 1,2012. These changes will stimulate the sales of building lots and new homes. GREAT NEWS!!
Developers, home builders and the construction trades in general in BC have been economically devastated since the inception of the HST. Obviously any revenue increase for the government from HST was offset by a decrease in personal and corporate taxes and the trickle down of less consumer spending.
If you are coming to our valley, the skiing is great but please pay attention to the high and extreme avalanche conditions.
Sincerely,
Your Professional REALTORS®
Royal LePage Rockies West Realty
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First-time Home Buyers - RRSP's and Tax Credits
A veteran real estate expert, Toronto lawyer and author Martin K.I. Rumack outlines the RRSP funding and tax benefits available to newbie buyers in the Canadian Real Estate Wealth magazine.
If you are a first-time home buyer, you may be entitled to certain benefits under the RRSP Home Buyers' Plan and the First-time Homebuyers'Tax Credit Program.
These benefits are also available if you have previously owned a home but have sold it, and have not owned a home for the previous four (4) years and do not own a home at the present time.
Read the complete article (web page)
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TAX GUIDE 2012 -- Claiming Property Expenses
Canadian Real Estate Wealth Magazine - The tax code for property investors can be tricky, and, as Joel Kranc explains, they've got to plan accordingly. As investors look ahead into the New Year it is not too early to start thinking about tax season and the areas that are appropriate for expensing. Staying organized, understanding which category investments fall under and when money spent is for income or future capitalization are key elements to a smooth tax experience. According to Shawn Stern, Tax Partner in KPMG's Real Estate Group, real estate can fall under three separate categories and depending on which category an investor falls in will dictate the types of expenses they are permitted to make. Read the complete article (web page)
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Home Sales Rise Outside Lower Mainland
Vancouver, BC - February 15, 2012. "Increased market activity outside the Lower Mainland in January was offset by fewer sales in Vancouver and the Fraser Valley," said Cameron Muir, BCREA Chief Economist. MLS® Residential sales rose 7 per cent to 1,620 units outside the Lower Mainland, while declining 10 per cent to 2,356 units in Vancouver and the Fraser Valley.
"While provincial sales activity was down in January from year ago levels, consumer demand has posted modest improvement since last fall, driven by low mortgage interest rates and gradually improving economic conditions," added Muir.
Read the complete report ("save link as" pdf)
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Sales Statistics Reports
Based on MLS® and Other Sales Data (information is deemed correct but not guaranteed)
Since we cannot properly display these statistics in this newsletter (and to minimize the size of this email) you can right click on the following links (and "save link as");
You may also request a more detailed breakdown of the numbers by email
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| About Royal LePage Rockies West Realty
Rockies West Realty is your professional real estate services company in the Columbia Valley. Since 1996, our caring professional representatives have helped people like you find a beautiful home, acreage, or condo here in the towns and hamlets that make up the Columbia Valley. Call us today and let us take care of your real estate needs ... "Helping YOU is what we do".
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5005 Fairmont Resort Road
(Real Estate Discovery Centre)
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| Deal of the Month |
Priced to Sell!!
#312, 4767 Foresters Landing
The Peaks Birch Building
Radium Hot Springs
List Price $218,900
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| Lease Special |
Office/Commercial Space
1,530 sq ft @ $15/foot
beside Tim Hortons
CALL FOR DETAILS
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