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Cooling Sales, Tight Supply Temper Okanagan Residential Sales Price  - December 8, 2017

December 8th, 2017

Cooling Sales, Tight Supply Temper Okanagan Residential Sales Price 

 

KELOWNA, B.C. – December 8, 2017. Residential sales posted to the Multiple Listing Service (MLS®) for the Okanagan region of Peachland to Revelstoke totaled 605 in November, falling 18% from last month’s 736 and up 6% from this time last year reports the Okanagan Mainline Real Estate Board (OMREB).

 

“Despite a stren ...

New Mortgage Rules - January 1, 2018

November 29th, 2017

Last month the Office of the Superintendent of Financial Institutions (OSFI) confirmed the implementation of a new minimum qualifying stress test for uninsured mortgages. Guideline B-20 now requires borrowers who have a down payment of 20% or more to qualify for a mortgage at a higher rate. Borrowers will have to be approved at either the five-year mortgage rate published by the Bank of Canad ...

As of November 27, 2017 the British Columbia Government will require a new version of the Property Transfer Tax (PTT) return.

November 22nd, 2017
As of November 27, 2017 the British Columbia Government will require a new version of the Property Transfer Tax (PTT) return.

Currently Buyers in British Columbia are required to pay a Property Transfer Tax on all properties they purchase in British Columbia (if they do not meet the exemption rules - see below). Property Transfer Tax is 1% on the first $200,000 of the purchase price, 2% of the ...

Kelowna/Okanagan Economy

November 21st, 2017






--
Alexandra Axsen
Lake Okanagan Realty Ltd. 
Owner/Managing Broker
Tel: (250) 870-2792
Email: Alex@LakeOkanaganRealty.com
www.LakeOkanaganRealty.com

SOLD - 1885 Crossfield Ave, Kelowna, BC Canada

November 21st, 2017
SOLD - 1885 Crossfield Ave, Kelowna, BC Canada

Big White Opens November 23, 2017

November 17th, 2017

Big White opens in less than one week! Opening dAY = November 23, 2017


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Why Foeigners Buy Real Estate in Canada

November 17th, 2017
Here are some of the reasons why so many foreigners continue to buy real estate in Canada:

1) Education - Canada has top schools from elemenary schools all the way up to top universities. 

2) Security - while Canada does have some crime it does not have the bombing and mass suffering that some other countries face. 

3) Safe Haven Investment - Canada's real estate laws are Federally and Provincia ...

Most Expensive Buildings in the World

November 17th, 2017
If you think Vancouver and Kelowna are expensive, think again! Here are the most expensive buildings in the World based on price per square foot:

The Peninsula in Shanghai = $6,100 USD per Sq./Ft.
One 57 in New York = $,7600 USD per Sq./Ft.
Opus in Hong Kong - $9,100 USD per Sq./Ft.
Mori Tower Roppongi Hills in Tokyo = $10,500 USD per Sq./Ft.
Tour Odeon in Monaco = $11,000 USD per Sq./Ft.
One Hyde ...

Kelowna Running Club - Memberships Available for 2018

November 17th, 2017
Memberships with the Kelowna Running Club for the 2018 season are now available. Only $35 for the year! There are organized runs every Saturday morning at 7:30AM all year long. You can walk, jog or run. All levels show up each Saturday so it's easy to finds someone at your level to walk/run with.
 
Benefits include:
 
Discounts pay for your membership:
10% discou ...

PayPal Accounts To Be Audited by CRA

November 16th, 2017
This is the Government going after AirBnB's as most AirBnBs pay through PayPal. They are specifically targeting people who earned over $30,000 in 12 months as those people are required to registered for a GST number and collect and remit GST to CRA.
 
http://www.bnn.ca/paypal-ordered-to-disclose-business-account-information-to-cra-1.916791
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