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July 2012 BC Home Sales increase, except in Vancouver.

Posted by & filed under B.C. Real Estate.

The British Columbia Real Estate Association (BCREA) reported province-wide sales for July 2012 this morning — sales in British Columbia increased in July 2012 versus the same month last year, except in Vancouver, where sales are starting to decline. These figures are another great illustration that there are several real estate markets in BC that […]

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Changes to Mortgage Lending Rules

Posted by & filed under B.C. Real Estate, Canadian Real Estate, Economics, Mortgage Trends, Victoria BC.

We empathize with our friends in the mortgage lending business, the mortgage brokers and bankers, as buyers rush to get time with them to try and grasp how the yesterday’s changes to mortgage lending rules set down by Finance Minister Jim Flaherty will affect their borrowing power. Many brokers have shared with us that this definitely […]

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Victoria Hospitals Foundation receives $175,000 pledge from Bank of Montreal

Posted by & filed under Charity, Victoria BC, Victoria Hospital Foundation.

Yesterday was a great day as Leslee spoke to the media, alongside the Honorable Ted Hughes, at an event to announce a substantial pledge by the Bank of Montreal to the Building Care Together campaign. As co-chairs of the Building Care Together campaign, Leslee and Mr. Hughes had the pleasure of announcing a $175,000 pledge […]

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More Good News from Ottawa: The deficit continues to shrink

Posted by & filed under Economics, In the News.

The federal government released its latest report on revenues and expenditures earlier this week which showed that the deficit was $2 billion smaller in August compared to a year ago. “The federal government’s fiscal picture is continuing to brighten, with Ottawa reporting Friday that its deficit for August was more than $2-billion smaller than last […]

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HST Not Applicable to Purchases of Real Estate.

Posted by & filed under Economics, In the News, Victoria BC, Victoria Real Estate Info, Victoria Real Estate Trends.

That statement in the headline is 94.79% true for real estate sales in Greater Victoria as of September 2011. Allow me to explain… In simple terms, HST does not apply to any real estate purchase of a home that has been previously occupied.  In September of 2011, the Victoria Real Estate Board reported that 94.79% […]

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Rates Unchanged: Bank of Canada

Posted by & filed under Economics, In the News.

The Bank of Canada held the overnight rate at 1% with a neutral outlook for the near future, as was widely expected. Below is the update from the British Columbia Real Estate Association Economics department. Thanks for reading!  As always, please contact us for all of your real estate needs in Victoria, BC, small or […]

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Victoria & Vancouver Shipyards Awarded $8 Billion Contract

Posted by & filed under Economics, In the News, Victoria BC.

Seaspan Marine Corp, owners of Victoria Shipyards and Vancouver Shipyards, was awarded the $8 Billion contract from the Canadian Government to build non-combat vessels such as Canadian Coast Guard research ships, a polar icebreaker, military supply ships and search and rescue life boats. The contract will mean the addition of 4,000 jobs (direct, indirect, induced) […]

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Economics Update – from BCREA

Posted by & filed under Economics, In the News, Victoria BC, Victoria Real Estate Info.

It appears that both the Canadian and US Economies have been doing better than most analyst’s recent predictions.  The financial markets are still choppy, but there is mounting evidence that a technical recession may be avoided.  See the release from the British Columbia Real Estate Association below: BCREA ECONOMICS NOW Manufacturing Sales and US Retail […]

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