Learn about changing real estate regulations, information and videos

What does the CMHC say?

In its most recent post, CMHC has received public feedback and is working to finalize the details and regulations under the Act, and how to enforce it.


CMHC's summary of the legislation is:

"The Act prohibits non-Canadians from purchasing residential property in Canada for 2 years. This act doesn’t affect Canadians and permanent residents. There may be exemptions for certain groups of people, types of residential property, and particular circumstances – these have not yet been established. (Once we’ve reviewed your feedback, we can establish the exemptions.)

The Act:

  • restricts non-Canadians from avoiding the prohibition by using corporations or other entities to purchase residential property
  • allows the…

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Foreign Buyer Ban

The Canadian Real Estate Association (CREA) published an update on the "Prohibition on the purchase of residential property by non-Canadians Act" (also called Foreign Buyer Ban) which comes into force January 1, 2023.  

While Whistler avoided British Columbia’s Foreign Buyer Tax (implemented in August 2016) and the Speculation and Vacancy Tax (SVT) (introduced in the province’s ‘Budget 2018’), it is not going to avoid this Ban.  Based on BC's experience with these taxes, such measures have had a small and often temporary effect on real estate markets, housing availability and affordability. The effects are largely isolated to large metropolitan markets, with no statistically significant impact in smaller communities.  The Act:

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Our series continues with Eileen Craig from Sea to Sky Mortgages. We sat down to talk " Tips for First Time Home Buyers" - Click to find out! 

 

CLICK HERE TO WATCH THE FULL VIDEO

Whistler Weekly Update

 

12 New Listings in the past 7 days CLICK HERE

Price Changes in the past 7 days CLICK HERE

Completed Sales in the past 7 days CLICK HERE

321 Current…

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The BCREA is "forecasting that lower mortgage rates will prevail for all of 2019 with the average 5-year contract rate falling to 3.30 per cent through the spring and early summer and the 5-year qualifying rate finally moving below 5 per cent for the remainder of the year."

 

For more information:
http://www.bcrea.bc.ca/docs/economics-forecasts-and-presentations/mortgagerateforecast.pdf

What should you do?
Find out what your options and find the suitable rate for you and your plans.
Talk to Eileen Craig with the Sea to Sky Mortgages at http://eileencraig.ca/about/contact/

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Your Sea to Sky Newsletter

Happy Spring from The LEADING EDGE Real Estate Team!

*NEW* FEATURED LISTINGS
#20 - 4325 NORTHLANDS BOULEVARD, 
SUNPATH, WHISTLER 
Listed at $1,150,000

The only established AirBnB 2 bedroom, 2 bathroom 851 sf Sunpath at Stoney Creek townhome. Sunpath is the most popular townhome complex in Northlands Row being closest to the ski hill to walk or catch the free ski…

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                                           CLICK HERE TO WATCH THE VIDEO

Whistler 7 Day Update

 

42 New Listings in the past 7 days CLICK HERE

12 Price Changes in the past 7 days CLICK HERE

5 Completed Sales in the past 7 days CLICK HERE

331 Current Listings in Whistler CLICK HERE​​​​

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Thank you, Gary Serra,Gary Serra, our fellow RE/MAX CREST REALTY WESTSIDE agent, for taking care of our wonderful client in Vancouver!! We appreciate that and we're always excited to hear about our happy clients. Thank you!
FEATURED LISTINGS
#350-4591 Blackcomb Way
Four Seasons, Whistler
LISTED AT $670,000
The only suite of this layout in the premier Four Seasons Resort Whistler. Experience true indulgence in your own 902 sf corner suite that sleeps 4 with 2 sides of expansive windows facing N/NW that…

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