(www.LakeOkanaganRealty.com) : Blog

Tax Write Offs for Rental Properties

Mon, 30 Jan 2012 23:16:33 -0800

For all my clients with rental properties:

Tax Write-offs - Allowable expenses include:
- Advertising
- Mortgage interest (not payments)
... - Property taxes
- Repairs and maintenance
- Utilities
- Office supplies (receipt books, etc)
- Travel (for you to do or supervise repairs at the unit but these are limited to airfare and rental car - no hotel)
- Insurance
- Management fees
- Professional fees (except for the sale and purchase)
- Strata fees and levies

BC Resort Foreclosures

Fri, 27 Jan 2012 22:06:47 -0800

Tower Ranch Golf Resort in Kelowna - 18 holes, designed by Thomas McBroom, zoned for 580 residential units. In receivership for over a year now. Originally listed for $21.5M. Reduced to $14.5M which works out to around $25,000 per door for the existing lots.

108 Resort in the Cariboo - 548 acres, 18 hole golf course, tennis courts and a 42 unit lodge. Listed for $3.8M.

Tobiano Golf Resort in Kamloops - owes BMO $26M plus $ owing to suppliers. In receivership.

Saratoga Beach Golf Course on Vancouver Island - foreclosure - 9 hole executive course with 37 acres of development land close to beach. Listed for $1.49M.

Manning Park Resort near Hope, BC in receivership. Assets include nordic and downhill skiing facilities, a lodge and chalets and a pub/bistro. The resort owes $700,000 in taxes and more than $1M to providers.

Tofino waterfront resorts on the market: the 40-unit Clayoquot Orca Resort near Chesterman beach, listed under a court ordered sale at $2.9M; and the 13-unit Duffin Cove Resort, at $2.35M.

Aviawest resorts is facing $97M in debts on five B.C. resort projects and is under court protection until March 29, 2012. Aviawest owns the flagship Parkside Resort and Spa property in Victoria. Pinnacle Lodge at Sun Peaks Ski Resort near Kamloops; the Water's Edge Resort in Ucluelet; the Pacific Shores Resort and Spa at Parksville, and condominiums in downtown Vancouver.

Alexandra Axsen

Owner/Managing Broker

Lake Okanagan Realty

Tel: 250.870.2792

Alex@LakeOkanaganRealty.com

Aviawest Resorts under court protection

Fri, 27 Jan 2012 21:59:55 -0800

Aviawest resorts is facing $97 million in debts on five B.C. resort projects and is under court protection until March 29. Aviawest owns the flagship Parkside Resort and Spa property in Victoria. Pinnacle Lodge at Sun Peaks Ski Resort near Kamloops; the Water's Edge Resort in Ucluelet; the Pacific Shores Resort and Spa at Parksville, and condominiums in downtown Vancouver.

Alexandra Axsen

Owner/Managing Broker

Lake Okanagan Realty

Tel: 250.870.2792

Alex@LakeOkanaganRealty.com

Tofino Waterfront Resorts in Foreclosure.

Fri, 27 Jan 2012 21:54:41 -0800

Two Tofino waterfront resorts in foreclosure: Cayoquot Orca Resort near Chesterman beach is a 40 unit building listed for $2.95M and Duffin Cover Resort is a 13 unit building listed for $2.35M.

Alexandra Axsen

Owner/Managing Broker

Lake Okanagan Realty

Tel: 250.870.2792

Alex@LakeOkanaganRealty.com

Manning Park Resort in Receivership.

Fri, 27 Jan 2012 21:52:45 -0800

Manning Park Resort near Hope, BC is in receivership. Property includes nordic and downhill skiing facilities, a lodge and chalets and a pub/bistro. The resort owes $700,000 in taxes and more than $1M to providers.

Alexandra Axsen

Owner/Managing Broker

Lake Okanagan Realty

Tel: 250.870.2792

Alex@LakeOkanaganRealty.com

Court-ordered sale: Saratoga Beach Golf Course

Fri, 27 Jan 2012 21:50:41 -0800

Court-ordered sale: Saratoga Beach Golf Course on Vancouver Island - 9-hole executive course with 37 acres of development land close to the beach. Listed for $1,490,000.

Alexandra Axsen

Owner/Managing Broker

Lake Okanagan Realty

Tel: 250.870.2792

Alex@LakeOkanaganRealty.com

Tobiano Golf Resort in trouble!

Fri, 27 Jan 2012 21:48:03 -0800

The 18-hole, high-end troubled Tobiano Golf Resort, at Kamloops has been on the market since last September. Receiver Bowra Group said the developers owe the Bank of Montreal about $26 million, and there is also money owing to suppliers. Lot prices were slashed in half in 2010, but only three lots sold all of the last year.

--
Alexandra Axsen
Owner/Managing Broker
Lake Okanagan Realty
Tel: 250.870.2792
Alex@LakeOkanaganRealty.com

108 Resort in the Cariboo for sale.

Fri, 27 Jan 2012 21:46:42 -0800

The 108 Resort in the Cariboo. It includes 548 acres and an 18-hole golf course, tennis courts and a 42-unit lodge. The asking price is $3.8 million

--
Alexandra Axsen
Owner/Managing Broker
Lake Okanagan Realty
Tel: 250.870.2792
Alex@LakeOkanaganRealty.com

Town Ranch Kelowna in Receivership

Fri, 27 Jan 2012 21:36:13 -0800

Tower Ranch Golf Resort in Kelowna (18 hole golf course). Opened in 2008. It is zoned for 580 residential units overlooking Kelowna. Tower Ranch went into receivership last year. The original list price has been slashed from $21.5 million to $14.5 million. This works out to about $25,000 per door for the existing lots.

--
Alexandra Axsen
Owner/Managing Broker
Lake Okanagan Realty
Tel: 250.870.2792
Alex@LakeOkanaganRealty.com

Only 3 Townhomes available at Waterscapes!

Wed, 25 Jan 2012 23:04:44 -0800

There are only three townhomes available at Waterscapes in Kelowna. 4 were built, but the developering is keeping one for himself thus only 3 will be put up for sale. They are not on the market yet. Price put is just under $700,000. They are STUNNING! Large, 1800 sq. ft. , 3 bedrooms, 2 levels, laundry room, fabulous kitchen/opening living room. Direct access to pool. Love them!

--
Alexandra Rebagliati
Owner/Managing Broker
Lake Okanagan Realty
Tel: 250.870.2792
Fax: 778.484.5252
Alex@LakeOkanaganRealty.ocm

Whoever did this BMW ad deserves a raise!

Wed, 25 Jan 2012 23:04:15 -0800

Whoever did this BMW ad deserves a raise!

Get out of the Car - Funny article

Tue, 24 Jan 2012 21:30:43 -0800

Home Equity Stats

Mon, 23 Jan 2012 13:40:01 -0800

Really good stats:

According to the fine CMHC:

Less that 10% of Canadians have less than 10% equity in their property.

12% of Canadians have 10-24.9% equity in their property.

79% of Canadians have greater than 25% equity in their property (in fact about 40% are paid in full).

This is why Canada is doing better than other nations. Controlling your debt is the key!!!! Always has been, always will be.

Really good stats:
According to the fine CMHC:
Less that 10% of Canadians have less than 10% equity in their property.
12% of Canadians have 10-24.9% equity in their property
.79% of Canadians have greater than 25% equity in their property (in fact about 40% are paid in full).

This is why Canada is doing better than other nations. Controlling your debt is the key!!!! Always has been, always will be.

Interest Rates Lowest in History!

Sat, 14 Jan 2012 10:13:48 -0800

I've been saying for two years to wait until 2012 to lock in rates as 2012 is a US election year - rates ALWAYS go down during a US election year! BMO reduced their 5 year fixed rate to 2.99% yesterday...the lowest in Canadian history. Look to the past to predict the future...or save yourself the work and just ask me. ;)

Sincerely,
Alexandra Axsen-Rebagliati
Owner/Managing Broker
Cell: 250.870.2792
Office: 778.484.5253
Fax: 778.484.5252
Alex@LakeOkanaganRealty.com
www.LakeOkanaganRealty.com

964 Coronation Reduced by $10,000!!!!

Tue, 03 Jan 2012 21:47:41 -0800

East Vancouver Foreclosures - Jan. 2, 2012

Mon, 02 Jan 2012 20:22:07 -0800

Click here for information on all properties that are currently in foreclosure in East Vancouver:

East Vancouver Foreclosures - Jan. 2, 2012

Coquitlam Foreclosures - Jan. 2, 2012

Mon, 02 Jan 2012 20:16:25 -0800

Click on this link to view all properties that are currently in foreclosure in Coquitlam:

Coquitlam Foreclosures - Jan. 2, 2012

Whistler Foreclosures - Jan. 2, 2012

Mon, 02 Jan 2012 20:04:18 -0800

Here is information all the foreclosures currently in Whistler for Jan. 2, 2012 (click on link):

Whistler Foreclosures - Jan. 2, 2012

December 2011 Okanagan Housing Stats

Sun, 01 Jan 2012 22:01:53 -0800

Please click on the two links below to view December 2011 stats:

2011 Okanagan Housing Graphs

December 2011 Housing Stats

309-3155 Gordon Drive Information Sheet

Sun, 01 Jan 2012 21:50:00 -0800

CLick here for information on 309-3155 Gordon Drive:

309-3155 Gordon Drive - FOR RENT