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Showing posts from July, 2011

Whistler Sales Price Median - Townhouse, Condo's & Chalets and Active Real Estate Listings

Whistler Sales Price Median from 2005 to July 2011 Condo's, Townhomes and Chalets Although sales look down in 2011 it is only July 25, 2011 with 5 more months of potential sales time. The median sales price is $29,000 more than 2010, indicating Whistler property values have seen the low end of the market and are now on the rise. North America's best resort still remains a 'Buyers Market'. If you were thinking of buying in Whistler, now is the time! Condo's for Sale in Whistler, B.C. - July 25, 2011   Townhomes for Sale in Whistler, B.C. - July 25, 2011 Detached Chalets for Sale in Whistler, B.C. - July 25, 2011 Timeshares for Sale in Whistler, B.C. - July 25, 2011 Quarter Ownership for Sale in Whistler, B.C. - July 25, 2011 Phase 2 for Sale in Whistler, B.C. - July 25, 2011 Matthew Callaghan Sutton Group - West Coast Realty Mobile: 604-966-8678 Office Phone: 604-935-3380 Toll Free: 1-866-978-8866 ...

"Alternative" Mortgage Repayment Plans

Increased competition in the supply of mortgages, as well as changes in borrowers' preferences have led to a dramatic increase in the number of mortgage products available on the market. Borrowers are now faced with far more choice and flexibility in terms of repayment plans, allowing them to select the one that best suits their individual needs. One option for borrowers to consider is whether to choose an open or closed mortgage loan. Open mortgages allow borrowers to prepay a portion of their mortgage or the entire amount at any time with typically only a small administrative fee. Closed mortgages, on the other hand, prevent borrowers from prepaying their mortgage without penalty, except where they are permitted under the terms of their mortgage contract or by the Interest Act. The flexibility of open mortgages comes at a higher cost to borrowers, imposing higher interest rates than an alternative closed mortgage with a similar term. Furthermore, open mortgages ge...

Strata Properties - Leasehold vs Freehold

Strata Properties: In a strata plan, everything is either part of a strata lot or part of the common property. Generally speaking, a developer who intends to develop a strata project will either purchase the necessary land or lease it. The result is that developers may sell freehold or leasehold strata lots. Freehold If the developer purchases the land for development, the developer becomes the registered owner in fee simple. After the developer subdivides the land by depositing the strata plan, the Registrar of Land Titles records the developer as the fee simple owner of each of the newly created strata lots. The developer can then sell fee simple title to the buyers of the strata lots. We call these "freehold" strata developments because buyers acquire fee simple title to their strata lots from the developer. Leasehold If the developer leases the land for a strata development, he or she may only lease the property from the federal, provincial or a mun...

Whistler Newsletter - A Stable Market and Summer Sunshine in the Forecast!!

So far this year the number of sales has been relatively consistent month to month ranging from a low of 33 in January to a high of 50 in March, with a monthly average of 43. Residential townhomes have been the most popular property type with buyers. The most active price range for Whistler buyers has been between $350,000 to $900,000. Next in line are higher-end townhomes and single family chalets in the $1.1M to $1.8M range. One key focus for buyers is properties that are exempt of the HST.   Summer is finally here …at least that’s what the calendar says. After a fantastic winter with many epic snow days and a cool non-existent spring, the anticipation of some summer sunshine and warmth is a welcoming thought. But when? It seems we get two days of summer then six days of fall. I guess that's life on the West Coast! Although our spring and summer weather hasn't been stellar, at least our local real estate market has continued to show signs of growth and stability compare...

Whistler Real Estate Sales Statistics

Active Listings Days to Sell vs. Actual Sale Price Months of Inventory ( Active Listings ) Sales Volume and Sale Price Real Estate Sales

Property Taxes in British Columbia and the Home Owner Grant

About Home Owner Grant The purpose of the home owner grant is to help reduce the amount of residential property tax British Columbians pay. The home owner grant applies to taxes paid by British Columbians to their municipality or to the Surveyor of Taxes for rural areas. The grant is available to Canadian citizens or holder of permanent residency status in Canada, who live in British Columbia, and he or she must occupy the home as his/her principal residence. The home owner grant program includes the following types of grants: Basic Additional Retroactive Multiple For 2011, the home owner grant will be reduced on higher-valued properties by $5 for each $1,000 of assessed value over $1,150,000. The basic grant is eliminated on homes assessed at $1,264,000 or more, and the additional grant is eliminated on homes of $1,319,000 or more. Continuing from the 2007 tax year, the home owner grant is provided to some low-income homeowners or occupants who did not qua...