Blog by Andrew Peck

What's not on the property title may be important

March 14th, 2014

What's not on the property title may be important

In West Vancouver in 2007, on the advice of her REALTOR®, a property seller checked to see if there was an underground fuel storage tank on her property.

There was and the seller had the tank removed and the contaminated soil remediated. The bill was $202,963.07.

The seller had bought the property in 2001 without using the services of ...

New rules for mortgages

March 2nd, 2010

New rules for mortgages

If you’re buying a home and you plan to apply for a government-insured mortgage, take note of some new rules.

On February 15, 2010, Federal Finance Minister Jim Flaherty announced:

  • Borrowers with less than a 20% downpayment are required to meet standards for a five-year fixed rate mortgage even when choosing a lower interest or short-term mortgage.
  • Borrower ...

You can use your RRSPs to buy a home

March 1st, 2010

You can use your RRSPs to buy a home

If you’re planning to buy a home, you can now withdraw up to $25,000 from your RRSP to for a downpayment. Couples can withdraw up to $50,000.

The Home Buyers’ Plan (RRSPs for down payments) is a federal government initiative.

Previous maximum withdrawal amounts were $20,000 for an individual and $40,000 for a couple. These amounts were increased th ...

Owning or Renting – What’s Your Best Option?

February 28th, 2009

Owning or Renting – What’s Your Best Option?

Many renters I talk to say they would like to own their own home and quit paying someone else’s mortgage. Owning a home is their lifelong goal, but right now, they don’t know what to do.

Some of my clients want to buy their first home – a small condominium – and others already own and want to trade up.

But the continuous bad news we’re bombarded ...

Is Real Estate a Good Investment Right Now?

February 28th, 2009

Is Real Estate a Good Investment Right Now?

During the past year, we’ve all been bombarded with continuous bad news about falling property prices and the poor state of the real estate market.

Does this mean real estate is no longer a good investment?

Here’s some big picture data to help you decide.

  • If you had bought a detached home five years ago (January 2004) in Metro Vancouver for th ...

Find a Solid Strata Property

February 28th, 2009

Find a Solid Strata Property

During the past decade, there have been many media reports about leaky condominiums.

Here are seven steps to finding a well constructed condominium apartment.

1. Review Strata Council Minutes.

A REALTOR® can get copies of Strata Council minutes for the past few years as well as by-laws, financial statements, Annual General Meeting minutes, and engineering repo ...

Get the Best Mortgage Possible by Following These Six Steps

February 28th, 2009

Get the Best Mortgage Possible by Following These Six Steps

If you’re a first-time buyer or you’re training up to a larger space or refinancing your home, saving money on your mortgage lets you get ahead financially. Here are seven ways to cut your mortgage costs.

1. Get the Best Possible Rate.

You may have to shop around. Phone a mortgage broker (that has been referred from family friends ...

The Top Six Incentives for Home Buyers

February 27th, 2009

The Top Six Incentives for Home Buyers

Incentive 1: the BC government’s First-time Home Buyers’ Program

When you buy a home, the BC government charges a tax of 1% on the first $200,000 of the purchase price and 2% on the remainder. Eligible first-time buyers can purchase tax-free. For information visit: http://www.sbr.gov.bc.ca/documents_library/bulletins/Ptt_004.pdf

Incentive 2: The BC G ...

Is our housing market at risk?

May 31st, 2017
Is our housing market at risk? Today, the International Monetary Fund reported that Canadian households are highly indebted and housing affordability, particularly in Vancouver and Toron...Click here to read more detail about 'Is our housing market at risk?'

Moving towards a National Housing Strategy

May 1st, 2017
Moving towards a National Housing Strategy The Canadian Real Estate Association and its member real estate boards and associations across Canada have long advocated for better access to ...Click here to read more detail about 'Moving towards a National Housing Strategy'

What are the key challenges we face as a profession?

February 18th, 2016
What are the key challenges we face as a profession? If someone were to ask me what one characteristic Realtors® share, I'd say - adaptability.  Take a minute and think about i...Click here to read more detail about 'What are the key challenges we face as a profession?'

Will a luxury or speculation tax create more affordable housing?

February 2nd, 2016
Will a luxury or speculation tax create more affordable housing? In the last month, both the Mayor of Vancouver and economists from the University of British Columbia and Simon Fraser Un...Click here to read more detail about 'Will a luxury or speculation tax create more affordable housing?'