Another reason Vancouver home prices will not increase as quickly this year

housing marketThe Greater Vancouver real estate market is getting hit from all angles at the moment.  There is the foreign buyers tax, the empty home property tax and the most recent draconian mortgage lending rule changes.  The foreign buyers tax has been scaled back somewhat to make it more reasonable for those with work permits, but it is still a major deterrent to property speculators looking to park their money. (more…)

About the BC Home Partnership Program

The newest program initiative offered by the BC government has been officially launched as of Jan. 16th.  The program is called the BC Home Partnership Program, and under the terms of the program, eligible first-time homebuyers will be able to receive 5% of the value of your home purchase up to a maximum of $37,500 on a maximum property value of $750,000.  The program matches, dollar for dollar, the down-payment of the home buyer.  The program provides the funds secured by a second mortgage behind your regular mortgage. (more…)

First-Time home buyer program announcement from BC government

The BC government today announced a program to help first-time home buyers to get into the market and purchase a home.  The program matches the downpayment of the borrower dollar for dollar in the form of a second mortgage to a limit of $37,500.  The mortgage provided will be a 25 year amortized mortgage with a 0% interest rate, and payments would not need to be made on the mortgage for the first 5 years of the term.  To be eligible for this program, borrowers have to meet the following criteria: (more…)

8 Scams to Watch Out For This Holiday Season

The holidays are a happy time for celebrating with family, friends, and co-workers. Unfortunately, this time of year can also be turned sour by a wide variety of clever frauds, unauthorized debit and credit card transactions, and bogus person-to-person scams. By the end of 2015, individuals, retailers, charitable donors, and companies were victimized to the tune of $1.5 billion… and that number is expected to have gone up in 2016. (more…)