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TOTAL 326 detatched homes in North Vancouver

 

Official Market Type NORTH VANCOUVER DETACHED: Sellers market at 41% Sales Ratio average (4.1 in 10 homes selling)

Homes are selling on average at 1% below list price

Most Active Price Band*: $900,000 to $1 mil with average 82% Sales Ratio (Sellers m arket)

Buyers Best Bet*: Homes between $1.5 mil to $1.75 mil, Edgemont and minimum 7 bedroom properties

Sellers Best Bet*: Selling homes in Blueridge, Central Lonsdale, Forest Hills, Lynn Valley, Pemberton and up to 2 bedroom properties

 

Source: SnapStats Report

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Official Market Type WEST VANCOUVER DETACHED: Buyers market at 13% Sales Ratio average (1.3 in 10 homes selling)

 

 

 Homes are selling on average at 2% below list price

 Most Active Price Band*: $2 mil to $2.25 mil with average 35% Sales Ratio (Sellers market)

 Buyers Best Bet*: Hom es between $2.75 to $3 m il, Altam ont, Cypress Park Estates, Whitby Estates and 3 to 6 bedroom properties

 Sellers Best Bet*: Selling homes in Chartwell, Westmount and up to 2 bedroom properties

 

Source: SnapStats report

 

 

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PPT is a tax that is paid at the time of completion based on the purchase price of the property.  The calculation is based upon 1% of the first $200,000 and 2% on the remaining balance.  PPT was first adopted into BC in 1987. You may qualify for a full or partial exemption based on the following criteria,

 

The buyer(s) must meet these qualifications:
• must be a Canadian citizen, or a permanent resident as
determined by Immigration Canada;
• must have lived in BC for 12 consecutive months
immediately before the date you register the property, or
must have filed two income tax returns as a BC resident
during the six years before the date you register the property;
• must never have owned an interest in a principal residence
anywhere in the world at any time; and
• must never have received a first time buyers’ exemption or
refund.
The property being purchased qualifies for a FULL
exemption if:
• purchasing an existing home, the fair market value of the
property is not more than $425,000;
• purchasing land and building a home, the fair market value
of the land as of the date you register the property, plus the
cost to build the home is not more than $425,000;
• the land is 0.5 hectares (1.24 acres) or smaller; and
• the property will only be used as a principal residence.
The property being purchased qualifies for a PARTIAL
exemption if:
• purchasing an existing home, the fair market value of the
property is between $425,000 and up to $450,000;
• purchasing land and building a home, the fair market value
of the land as of the date you register the property, plus
the cost to build the home is between $425,000 and up to
$450,000;
• the land is larger than 0.5 hectares (only 0.5 hectares of land
are eligible); or
• a portion of the improvements on the land is used for
commercial purposes or there is a separate dwelling on the
land (only the principal residence portion is eligible).

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