Blogs are a fabulous way to stay connected with what is happening in your community. In our neck of the woods we are lucky to have some great blogs devoted to sharing events, local businesses, history and other useful information about the communities that we live in. 

Here are some of my favourite local blogs in Metro Vancouver. Do you have a favourite blog in your neighbourhood?

Tri-Cities
http://www.thev3h.com

Fraser Valley (Surrey to Chiliwack)
http://www.fraservalleypulse.com

Vancouver
http://www.miss604.com

New Westminster
http://www.tenthtothefraser.com 

Property owners in British Columbia may be eligible for one or more of the grants and rebates listed below. Please review this comprehensive list and feel free to contact me if you have any questions about your eligibility.

1. Home Buyers’ Plan

Qualifying home buyers can withdraw up to $25,000 (couples can withdraw up to $50,000) from their RRSPs for a down payment. Home buyers who have repaid their RRSP may be eligible to use the program a second time. Canada Revenue Agency www.cra.gc.ca. Enter ‘Home Buyers’ Plan’ in the search box | 1.800.959.8287

2. GST Rebate on New Homes

New home buyers can apply for a rebate of the federal portion of the HST (the 5% GST) if the purchase price is less than $350,000. The rebate is up to 36% of the GST to a maximum rebate of $6,300. There is a proportional GST rebate for new homes costing between $350,000 and $450,000. Canada Revenue...

The ecoENERGY retrofit and the Livesmart BC Grant program deadlines are fast approaching! 

In order to qualify for government incentives participants in the above programs must obtain their post-retrofit evaluation by March 31, 2011, or within 18 months of the pre-retrofit evaluation report, whichever comes first.

Due to the large volume of people applying for these grants, homeowners should schedule their final evaluation well in advance of their deadline.

Please visit the LiveSmart BC website for details of their Efficiency Incentive Program and visit Natural Resources Canada to learn more about the ecoENERGY Retrofit Grants and Incentives. 

The Bank of Canada has released their latest rate announcement on March 1, 2011.  If you have any questions about what this means for your real estate or mortgage transactions, please contact me and I would be happy to explain! FOR IMMEDIATE RELEASE 1 March 2011

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Bank of Canada maintains overnight rate target at 1 per cent

OTTAWA – The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.

The global economic recovery is proceeding broadly in line with the Bank’s projection in its JanuaryMonetary Policy Report (MPR), although risks remain elevated.  U.S. activity is solidifying and remains supported by stimulative fiscal and monetary policies.  Ongoing challenges associated with sovereign and bank balance sheets will limit the...

The Fraser Institute measures and studies the impact of competitive markets and government interventions on individuals and society. They provide unbiased reports about how organizations are performing. 

When considering a move to a new neighbourhood or city, Canadian parents often turn to the Fraser Institute reports to evaluate school options for their children.

I regularly receive the Fraser Institute reports and would be happy to share them with you. If you are researching educational opportunities and a new home in Port Moody, Coquitlam, Port Coquitlam or elsewhere in the Lower Mainland, please be in touch with me. 

I was recently reading this blog posting over at Macdonald Realty and I found it very interesting.

Though our real estate market has been somewhat unsteady over the past year, it seems the 2010 Olympics did help attract an international audience, especially those from China.

Canada is certainly attractive to outside investors. Not only is the Greater Vancouver area the most beautiful place on earth (!!), Canada is in the most secure fiscal position in all of the G8 countries. 

 

As a Port Moody REALTOR®, I am often asked about other area specialists. I would like to introduce you to Desiree & Kelly of threesixty Financial Group. They are a Port Moody-based insurance duo who you need to know! threesixty offers life, mortgage, critical illness, disability, corporate, travel and long term care insurance.

I recommend following along with their blog, where they have recently covered great topics such as:

Get free money just by contributing to your RRSP!

Is your man your retirement plan?

Expect the best, plan for the worst.

Check them out at www.threesixtyfg.ca! 

If you are in the process of looking to buy a home, it's time to get pre-approved! RBC Royal Bank and TD Canada Trust have already increased their 5 year fixed posted rate to 5.44%. Speculation is that the Bank of Canada will be raising their Benchmark Rate to 5.44% on Monday, February 14, 2011.

What does that mean for buyers? Time to get yourself pre-approved! In some situations this raise will mean that the mortgage you qualify for could be significantly reduced. This will especially impact buyers with less than 20% and clients interested in variable rate mortgages or fixed rates of 1-4 years.

Please also remember CMHC's announcement from last month - the mortgage rules change on March 18, 2011 and the maximum amortization period lowers to 30 years (from 35 years). This can also lower the total mortgage amount that you may qualify for.

Contact me today and I will help get your pre-approval...

No Property Transfer Tax
* Purchase must be less than $425,000 (up to $6,500 in savings)

Home Buyers Plan (HBP)
* RRSP withdrawal to assist with first home purchase
* Just increased in 2009 to $25,000/person or $50,000/couple

1st Time Home Buyers Tax Credit
* Up to $750 tax credit to help with closing costs

Buyer's Realtor
* Buyer's don't pay for REALTOR services - the Seller pays

Say NO to Boxes
* Get a discount on environmentally friendly reusable moving crates

The REBGV has released the statistics from January 2011. It seems the market started off the new year quite balanced with buyers and sellers, with a slight decrease in overall sales. 

Stability and regional ‘hot spots’ characterize 

January housing market 

The Greater Vancouver housing market remained in balanced market conditions in January, although higher levels of buyer demand were seen in some of the region’s largest communities.
 

The number of properties listed for sale and those sold on the Multiple Listing Service® (MLS®) last month outpaced the 10-year average in both categories for January.
 

“There was a healthy balance between the number of home buyers and sellers in our market in January, but there’s always variation in activity from region to region,” said Jake Moldowan, president of the Real Estate Board of Greater...

We are lucky to live in the Tri-Cities. Throughout the year there are a lot of great events in Port Coquitlam, Coquitlam and Port Moody. Festivals, performances - there's something for everyone.

I'm happy to see that Sunday Coffee concerts are back in Port Coquitlam at the Terry Fox Theatre. These great concerts feature talented performers in all types of genres, including country, classical - even gospel. There are some excellent artists coming up, including Felice Women's Choir, Karen Flamenco, and the VOC Sweet Soul Gospel Choir.

Check back to their website often to see who is playing each week. Or you can sign up to the Port Coquitlam e-update for updates. 

On January 26, 2011 at 10AM the Tri-Cities will will join the BC Earthquake Alliance Society for ShakeOut BC - the largest earthquake drill in BC history. 
 
No matter where you are in Port Coquitlam, Port Moody, Coquitlam or elsewhere, you are invited to 'Drop, Cover and Hold On' along with millions of other British Columbians. The point of this exercise is to learn how to immediately protect yourself as best as possible in the event of an earthquake. 

Here are some handy snippets of advice about the Drop, Cover and Hold On method. Some do's and do not's that you will want to remember. Please share these notes with your children, families and friends. 

My friends at www.theV3H.com have more information about this worthwhile event. It's something we should all be knowledgeable about since we live in an area that could experience 'the big one' at any time, without a moment's...

On January 17th, Finance Minister Jim Flaherty announced three new changes to Canadian mortgage qualifications. They are as follows:

1. A 30 year maximum, down from 35 years, amortization on insured mortgages (down payment of less than 20%)

2. An 85% Loan to Value limit on insured refinances

3. Elimination of government insurance on secured lines of credit (aka HELOCs)

The goal with these new Canadian mortgage rules is to help stabilize Canada's long-term housing market and to encourage hard-working Canadians to save by investing in their homes. 

Full press release details can be viewed here.

What do you think of the new mortgage rules?

The Bank of Canada has released their latest rate announcement on January 18, 2011.

If you have any questions about this announcement or how it may affect your purchase of a home, please contact me and I would be more than happy to explain.

FOR IMMEDIATE RELEASE 18 January 2011

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Bank of Canada maintains overnight rate target at 1 per cent

OTTAWA –The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.

The global economic recovery is proceeding at a somewhat faster pace than the Bank had anticipated, although risks remain elevated. Private domestic demand in the United States has picked up and will be reinforced by recently announced monetary and fiscal stimulus. European growth has also been slightly stronger than anticipated. Ongoing challenges ...

 

By now homeowners should have received their 2011 property assessment notice. If you do not receive yours by January 19th, this Wednesday, please contact BC Assessment per the helpful checklist below.

 

Great news on January 3rd from the BC Ministry of Finance:

HIGHER HOMEOWNER GRANT THRESHOLD PROTECTS TAXPAYERS

VICTORIA – More than one million B.C. homeowners with homes valued up to $1.15 million may be eligible for the full homeowner grant amount as the Province raises the threshold by 10 per cent for the 2011 tax year.

“Raising the homeowner grant threshold ensures that 95 per cent of homeowners continue to benefit from a full grant, helping them with the cost of living,” Finance Minister Colin Hansen said. “While we’re starting to see mills and mines reopen in our smaller communities, we recognize the economic downturn hit some parts of rural B.C. harder, so we’ve kept our promise to provide a Northern and Rural Home Owner Benefit to ease the burden on rural families in the months ahead.”

BC Assessment estimates the value of most properties...

Two things I love to support: great ideas and great friends! 

Please take a moment to check out The Eco Floor Store by Hillcrest Floors, recently opened by my friend Jared. This great new eco-friendly flooring store is located in Surrey, a quick hop over the bridge from the Tri-cities.

Friends of Think Julie (that's YOU!) are welcome to an exclusive 15% discount using this coupon below. Print it out and head over to this great new store full of stylish eco-friendly offerings.



Congrats on the wonderful idea, Jared!

The REBGV has released the statistics from December 2010, along with an overview of 2010. They are reporting more stability in home sales over the past six months. See below for all of the details.

Real estate market stable at year-end

The Greater Vancouver residential housing market entered three distinctive phases in 2010. Continued buoyancy from the post-recession recovery began the year, followed by a summer lull and, throughout the fall, a sustained period of stability.

The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2010 reached 30,595, a 14.2 per cent decrease from the 35,669 sales recorded in 2009, but a 24.2 per cent increase from the 24,626 residential sales in 2008. Last year’s number of housing sales was 10.3 per cent below the ten-year average for annual Multiple Listing Service® (MLS®)...

There are lots of great local fundraising events happening at this time of year. It's important to give back, in whatever way you can.

Thankfully some places are super creative with their fundraising ideas, offering fun and goodies in exchange for a donation to their favourite cause.

I'm a snow bunny, so this one caught my eye. Hemlock Valley Resort (about an hour east of the tri-cities) is hosting Tubes for Toys on December 18 - 19, 2010. Simply bring an unwrapped toy for each person in your group, and you will receive a free tubing pass and a hot chocolate!

The kids will be off school later today and what a great way for little ones to begin their winter break! Though, I have to say, tubing is fun for kids of all ages.

Have fun on the slopes :) 

I love the holidays. One of the best things about this special time of year is that magical spirit in the air; the spirit of giving. 

My office, Sutton Group - 1st West Realty, is capturing this spirit by helping out six local refugee families from Nepal and Sri Lanka. We are presently accepting food and cash donations to share with them over the holidays.

If you are interested in contributing, please email me or phone 604.942.7211. The office address for drop off is 118-3030 Lincoln Avenue, Coquitlam.

Thanks for your consideration. Happy holidays!