Monthly Archives: February 2012

Testimonials

My wife and I bought a house through Love Real Estate Group and we are very happy with the entire process. They are thorough, honest, diligent and hard working. It was easy to discuss various options with them and we felt comfortable at all times working with them. We’ve since recommended them to friends and will continue to do so.

Martin and Apple McGeough

When I decided to sell my home in Cedar by the Sea last April, I asked Love Real Estate Group to list it. Within a week, I had offers and a purchaser. Next, Love Real Estate Group showed me a number of potential residences that could meet my needs. Within three weeks, I was very interested in buying a townhouse, made an offer and it was accepted. I was very impressed with Love Real Estate Group’s manner in which they dealt with me. Their advice, professionalism and prompt service were especially appreciated. I would highly recommend these Ladies to others if they are seeking either to sell or buy a home. Thanks again Love Real Estate Group.

Al Cormon

Compassion in Commerce

Published By: on February 28th, 2012 in Category Nanaimo Real Estate News

Have you signed that Charter for Compassion? Check it out at charterforcompassion.org

On March 21 Karen Armstrong will be speaking at the Vancouver Board of Trade luncheon on the topic of Compassion in Commerce. I’m going to attend. Anyone want to join me?

B.C. First-time New Home Buyers’ Tax Bonus 2012

Published By: on February 24th, 2012 in Category Nanaimo Real Estate News

Tuesday Feb. 20 the B.C. Provincial Government announced a new income tax bonus of up to $10,000 for first time home buyers who purchase a new home. Effect from Feb.21/12 to March 31/13 this bonus will be prorated according to household income and the price of the home, but the levels are pretty reasonable. For example a couple who’s total income is $150,000/yr or less who is buying a home that is over $200,000 will receive the whole $10,000. Of course there are other requirement such as residency. This is good news for builders and for buyers.

So here’s the list of reasons why this is good time for First Time Home Buyers to jump into the housing market:

1. Great low mortgage rates

2. If buying new – up to $10,000 provincial tax rebate

3. Federal tax refund of up to $750

To see more details go to the B.C. Government press release.

NOTE: This any other HST rebate decisions are subject to legislative approval.

New HST/PST Rules for B.C. Housing

Published By: on February 20th, 2012 in Category Nanaimo Real Estate News

This week we learned that the the reign of the HST in B.C. will end April 1, 2013. At that time we will convert back to the 7% PST. In the meantime new rules have been implemented to help with the transition period.

Here are the key elements that I have gleaned from the press releases:

1. Previously the top threshold for receiving any HST rebate was $525,000. At that price you could receive a $26,250 rebate. Beginning April 1,2012, with the transitional rules, the threshold has been raised to $850,000 with a maximum rebate of $42,500.

2. These rebates are now available for 2nd homes.

3. After April 1, 2013, buyers will pay a 2% transitional tax on homes built before April 1, 2013.

This government site on New Home Purchases attempts to explain the rules for the transition from the HST to the PST.