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We have sold a property at 4105 13696 100 AVE in Surrey

We have sold a property at 4105 13696 100 AVE in Surrey. See details here

Indulge in urban luxury at its peak in this 1 bedroom + Den unit built by Award Winning Builder Concord Pacific at PARK AVENUE WEST. Renowned for its elegance, the building offers a resort-like experience with a 24/7 concierge, rooftop Sky Lounge, outdoor pool, hot tub, and more. Revel in stunning mountain and city views from the unit, featuring a high-end European kitchen with Quartz countertops, built-in appliances, and a gas cooktop. Convenience is key, with proximity to the Skytrain, SFU campus, and amenities. This residence includes one parking space, a locker, and ample visitor parking. Don't miss out on embracing modern urban living—schedule your viewing today!

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We have sold a property at 66 158 171 ST in Surrey

We have sold a property at 66 158 171 ST in Surrey. See details here

Enjoy a private and quiet living experience, surrounded by the natural beauty of a Bald Eagle Conservation area by renowned builders Dawson & Sawyer. This exceptional residence features quality construction & thoughtful design. The bright, open unit boasts 9 ft ceilings on the main, creating a spacious & inviting ambiance. The Gourmet Kitchen is a focal point and features beautiful white cabinets, an oversized island, & a 5-burner gas range. The top floor offers a retreat with a spacious primary bdrm, complete with a spa-inspired ensuite & walk-in closet. Two additional bedrooms provide versatility for your lifestyle needs. The lower level is designed for convenience, with another bedroom w/ensuite, and full-size laundry area. BONUS: Double side-by-side garage. Close to all amenities.

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Modest interest rate cuts expected to spur activity next year, leading to a rise in property prices

National aggregate home price forecast to increase 5.5% year over year in Q4 of 2024

Following several years of unprecedented ups and downs, Canada’s housing market could return to more normal levels of activity and price trends next year. The Bank of Canada is expected to lower its overnight lending rate in the second half of 2024, which will lead to an increase in demand from sidelined buyers as they adjust to today’s lending realities. New household formation and newcomers to Canada will put additional upward pressure on prices. 

“Looking ahead, we see 2024 as an important tipping point for the national economy as the majority of Canadians acknowledge that the ultra-low interest rate era is dead and gone,” said Phil Soper, President and CEO, Royal LePage. “We believe that the ‘great adjustment’ to tolerable, mid-single-digit borrowing costs will have a firm grip on our collective consciousness after only modest rate cuts by the Bank of Canada.”  

According to the Royal LePage 2024 Market Survey Forecast, the aggregate1 price of a home in Canada is set to increase 5.5% year over year to $843,684 in the fourth quarter of 2024, with the median price of a single-family detached property and condominium projected to increase 6.0% and 5.0% to $879,164 and $616,140, respectively.2 

Royal LePage’s forecast is based on the prediction that the Bank of Canada has concluded its interest rate hike campaign and that the key lending rate will hold steady at five per cent through the first half of 2024. The central bank is expected to start making modest cuts in late summer or fall of next year. Meanwhile, several major financial institutions have already begun offering discounts on fixed-rate mortgages.

“Canada’s real estate market has been on a roller coaster ride for the last four years. A global pandemic briefly brought market activity to a grinding halt in early 2020, followed by a rapid, widespread spike in demand and price appreciation as Canadians sought safety and greater living space in their homes among a world of uncertainty. By the spring of 2022, home prices had reached unprecedented highs, but when interest rates started rising quickly and steeply to combat inflation, the extended market correction began,” said Soper. “Markets take time to adjust. We see a move toward typical home sale transaction levels in 2024, and as the year progresses, appreciating house prices.”

Nationally, home prices are forecast to see modest quarterly gains in the first two quarters of 2024, with more considerable increases expected in the second half of the year, following the anticipated start of interest rate cuts by the Bank of Canada. 

Read Royal LePage’s 2024 Market Survey Forecast for national and regional insights.

Highlights from the release:

  • Calgary aggregate home price projected to see greatest gains of all major markets at 8.0%
  • Aggregate price of a home in the greater regions of Toronto and Montreal are forecast to end next year 6.0% and 5.0% respectively above the final quarter of 2023
  • Meanwhile, Greater Vancouver is expected to see a more modest increase of 3.0%
  • In other major regions, aggregate home prices are expected to rise modestly (4.5% in Ottawa, 3.0% in Halifax, Winnipeg and Regina)
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New property listed in Scottsdale, N. Delta

We have listed a new property at 904 11910 80 AVE in Delta. See details here

WELCOME TO THE CHANCELLOR! This beautiful South-West facing Corner unit in one of Delta's only concrete towers features a 1 Bedroom/1 Bathroom suite with spectacular views of Mt. Baker. This unit has been completely updated including the kitchen and BRAND NEW appliance package, $5000 custom blinds, and laminate flooring throughout. Pride of ownership shows in this well maintained and lovingly cared for home. The enclosed solarium is the perfect place to relax and enjoy your morning coffee, the cool evening breeze, or watch the beautiful sunsets. The amenities included in this complex are a beautiful garden area with a fountain on top of the Parkade, a recreation room as well as an indoor swimming pool!

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We have sold a property at 56 20831 70 AVE in Langley

We have sold a property at 56 20831 70 AVE in Langley. See details here

Location! Community! Family Friendly! RADIUS townhome complex in Milner Heights! Built by Vesta. STUNNING 1649 sq ft 3 bdrm, 3 bath PLUS den townhome. Massive chef’s kitchen, S/S appliances, kitchen island/ breakfast bar, granite countertops and plenty of cabinetry. Bright and open living area with cozy fireplace, floating shelves and 9’ ceiling. Powder on main. Step out directly from your kitchen to your large, lushly landscaped, fenced, private, serene backyard. Single car garage PLUS covered parking pad. This beautiful home has been freshly painted and meticulously cared for. LOW Strata Mtnce Fee only $212.44. You’ll love the quiet MILNER neighbourhood excellently located close to transit, shopping, nature trails and Hwy #1.

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We have sold a property at 314 6438 195A ST in Surrey

We have sold a property at 314 6438 195A ST in Surrey. See details here

Yale Bloc 2 - West-facing one bedroom looking out over lovely landscaped courtyard. Large windows and 9"foot ceilings make this modern condo feel light and bright. All finishes selected by an award-winning Interior Design firm. From high-end laminate in the living and dining area, to a dream kitchen featuring white quartz counters and sleek flat panel cabinetry, this home offers modern living at its best! Plenty of storage including a large entryway closet and a walk-through closet between the Primary bedroom and cheater ensuite. Additional storage locker and one parking included, plus Home Warranty. All this walking distance to Willowbrook Mall and the many amenities of Clayton and Langley. Investors, first time home buyers or downsizers, this is an opportunity waiting for you!!

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New property listed in Whalley, North Surrey

We have listed a new property at #4105 13696 100 AVE in Surrey. See details here

Indulge in urban luxury at its peak in this 1 bedroom + Den unit built by Award Winning Builder Concord Pacific at PARK AVENUE WEST. Renowned for its elegance, the building offers a resort-like experience with a 24/7 concierge, rooftop Sky Lounge, outdoor pool, hot tub, and more. Revel in stunning mountain and city views from the unit, featuring a high-end European kitchen with Quartz countertops, built-in appliances, and a gas cooktop. Convenience is key, with proximity to the Skytrain, SFU campus, and amenities. This residence includes one parking space, a locker, and ample visitor parking. Don't miss out on embracing modern urban living—schedule your viewing today!

Read

New property listed in Pacific Douglas, South Surrey White Rock

We have listed a new property at 66 158 171 ST in Surrey. See details here

Enjoy a private and quiet living experience, surrounded by the natural beauty of a Bald Eagle Conservation area by renowned builders Dawson & Sawyer. This exceptional residence features quality construction & thoughtful design. The bright, open unit boasts 9 ft ceilings on the main, creating a spacious & inviting ambiance. The Gourmet Kitchen is a focal point and features beautiful white cabinets, an oversized island, & a 5-burner gas range. The top floor offers a retreat with a spacious primary bdrm, complete with a spa-inspired ensuite & walk-in closet. Two additional bedrooms provide versatility for your lifestyle needs. The lower level is designed for convenience, with another bedroom w/ensuite, and full-size laundry area. BONUS: Double side-by-side garage. Close to all amenities.

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Open House. Open House on Saturday, December 9, 2023 2:00PM - 4:00PM

Please visit our Open House at 66 158 171 ST in Surrey. See details here

Open House on Saturday, December 9, 2023 2:00PM - 4:00PM

Enjoy a private and quiet living experience, surrounded by the natural beauty of a Bald Eagle Conservation area by renowned builders Dawson & Sawyer. This exceptional residence features quality construction & thoughtful design. The bright, open unit boasts 9 ft ceilings on the main, creating a spacious & inviting ambiance. The Gourmet Kitchen is a focal point and features beautiful white cabinets, an oversized island, & a 5-burner gas range. The top floor offers a retreat with a spacious primary bdrm, complete with a spa-inspired ensuite & walk-in closet. Two additional bedrooms provide versatility for your lifestyle needs. The lower level is designed for convenience, with another bedroom w/ensuite, and full-size laundry area. BONUS: Double side-by-side garage. Close to all amenities.

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Open House. Open House on Sunday, December 10, 2023 2:00PM - 4:00PM

Please visit our Open House at 66 158 171 ST in Surrey. See details here

Open House on Sunday, December 10, 2023 2:00PM - 4:00PM

Enjoy a private and quiet living experience, surrounded by the natural beauty of a Bald Eagle Conservation area by renowned builders Dawson & Sawyer. This exceptional residence features quality construction & thoughtful design. The bright, open unit boasts 9 ft ceilings on the main, creating a spacious & inviting ambiance. The Gourmet Kitchen is a focal point and features beautiful white cabinets, an oversized island, & a 5-burner gas range. The top floor offers a retreat with a spacious primary bdrm, complete with a spa-inspired ensuite & walk-in closet. Two additional bedrooms provide versatility for your lifestyle needs. The lower level is designed for convenience, with another bedroom w/ensuite, and full-size laundry area. BONUS: Double side-by-side garage. Close to all amenities.

Read

6 Things To Know About Capital Gains

6 things to know about capital gains and
taxes for people across Canada

  

So, you made some cash selling your property or stocks at a higher price than you bought them for? High five! But before you start celebrating, there's this thing called capital gains that might show up on your tax return. Here's a friendly chat about what you need to know, in simple terms.
 

1. What's Up with Taxes on Capital Gains?

Capital gains are kinda like a 50-50 deal when it comes to taxes. Only half of what you earned from selling your stuff gets taxed. But how much tax you pay depends on your yearly income. So, if you sold a building for more than you bought it, only half of that profit gets added to your income and taxed accordingly. Higher income, more tax - that's the game.

2. Capital Gains vs. Losses

Sold something for less than you paid? That's a capital loss, my friend. But it's not all bad news. You can use these losses to reduce the taxes on your gains. If your losses are more than your gains, you can even use them to lower your taxes in the past or future years.

3. Keep Your Papers in Order

When it comes to declaring capital gains, paperwork is king. Keep track of when you bought and sold things, the costs, commissions, and any other expenses. Trust me, having these documents handy will make your life easier when tax time rolls around.

4. Gifts and Sales: What's the Deal?

Gave something away or sold it for less to a family member? The tax folks will act like you sold it for its full market value. So, you might still owe taxes on a bigger gain than you expected.

5. Splitting Gains with Your Better Half

Generally, you can't just split capital gains with your spouse to save on taxes. There are some rules around this. But if you both bought something together and paid equal shares, then you can split the gains equally too.

6. Smart Planning for Your Gain

Got a feeling you'll sell something for more than you bought it? Plan ahead! Maybe sell some stuff that's not doing so well, or put more into your retirement savings to lower your taxes for the year. Timing can also be key - if your income is lower in a particular year, reporting your gain then could mean less tax.

Remember, this chat is just a friendly overview. It's super important to chat with your accountant or tax professional for advice tailored to your situation. They're the pros who can guide you through the nitty-gritty of your finances. Stay smart and stay informed!

Disclaimer: This information is for general understanding and should not be used as a substitute for seeking professional guidance from an accountant or tax professional. Laws and tax regulations can be complex and change over time, so it's always a good idea to get personalized advice from the experts. 


*Courtesy of 
SHANNON MAYHEW, MBI 
MORTGAGE BROKER
T: 778-858-9848
www.westcoastbroker.ca 

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We have sold a property at 16628 60 AVE in Surrey

We have sold a property at 16628 60 AVE in Surrey. See details here

STYLISH HALF DUPLEX WITH NO STRATA FEES! This home is immaculate! Beautiful 2 storey with a FULLY FINISHED BASEMENT/SEPARATE ENTRY 2,566 sqft 1/2 Duplex Home. This home boasts 4 bedrooms in total 3 up, 1 down & 3.5 bathrooms. Open plan kitchen with maple cabinets, SS appliances, fresh designer colors, well-planned out storage, Central vac, security system and fully fenced back yard with patio. This home has LANE ACCESS to garage & driveway parking and the list goes on... Located within walking distance to 2 elementary schools, shopping, transit & the best park in Cloverdale, the Athletic Park. These duplexes are highly desirable and sell quickly.

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