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BC HpuseAt the beginning of every year in January all homeowners in British Columbia receive their property assessments in the mail. For many homeowners, this document is believed to be what their property is worth today. For 2013, a number of homeowners were shocked that their assessments have increased even though the sales and prices have dropped in their area. Meanwhile others have received reduced or same values as previous years, myself included.


One family member was outraged when his assessment increased by $50k and expects that his taxes will be increasing accordingly. If he were selling, he would not be as concerned. I tried to explain that it’s just a piece of paper for reference but I had to end the discussion because I wanted to keep...

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Halloween PumpkinWith the end of October comes with it Hallowe’en and the memories of the great Dot Com crash that occurred many years ago which we are still recovering. We have seen a lull in our local real estate market for the last number of months. Are we going to experience what the reporters have been waiting for decades to report of a real estate crash? Ask any economist and 50% of them will be correct and become gurus should the event happen. I have no crystal ball. The Buyers tend to hold off writing offers when they hear the news; meanwhile the Sellers don’t put on their properties because they cannot get their pricing. Yet when the market jumps, Buyers scramble to outbid each other to buy anything without much thought. Investors stock up on pre-sales...
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 Just imagine that school re-opens for most students next week. I heard many parents have been waiting for this time to return to a routine, while some kids have been eager to see their classmates, and others anxious because they are starting a new school.
 
This also means that the days will be getting darker sooner and we must be more careful driving to and from work. We should be slowing down and not driving faster while we chauffer our children to their many activities.
 

Packing healthy lunches, eating proper dinners and ensuring that everyone is well rested creates a happy, healthy family. Getting the homework assignments completed in a timely and amicable manner is another story but I digress. You see, I have 2 daughters...

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Coldwell Banker recently released their latest survey on what men and women want in real estate. Interesting enough, the results are not what you may think. Here are highlights of the findings: Both men and women place greater emphasis on their feelings about a home more than on layout, square footage, or price. And more than 60% also know within their first visit to the home is right for them. To read the complete report, please go to: [Men/Women Survey]
 
--Arthur Ng
 
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As per my previous blogs and what I have been advising our clients, the local real estate market is unique. The economic and political stability, quality of life, the natural beauty and the sound social and education system is desirable world-wide. This is confirmed by the latest 2011 census report from Statistics Canada shows that our population is growing faster than any G8 nation, fuelled primarily by immigration and the bulk landing in Western Canada. For Metro Vancouver with its’ limited land base, it just means that prices can only head one way overall. This explains why Surrey and Port Moody is experiencing 19.9% and 18.6% growth respectively when compared to 2006. More than 200,000 new residents came to Metro Vancouver since 2006. This...
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