Sutton Showplace Realty (2015) Chilliwack

  604-858-1800 

Easter House - Office Closure

19 April 2019
Sutton Showplace Realty Chilliwack

Happy Easter Everyone. Enjoy the long weekend and some valid time with your friends and family.


2019 Sutton Showplace Realty - Realtor Awards

29 March 2019
Sutton Showplace Realty Chilliwack

This morning was our Annual Sutton Awards breakfast to to celebrate the achievements of our amazing Agents!

Congratulations to everyone who worked so hard to reach their milestones this year!!

  

 

 

 

 


BC Speculation Tax

22 March 2019
Sutton Showplace Realty Chilliwack

Are you on the title of your parent or child's property?
The deadline for claiming your exemption from this new tax is March 31, 2019. The online form isn't as clear as it could be about claiming this exemption.
The following information is referred from the Government website.

Individuals Exemptions for Speculation and Vacancy Tax

 

People who own residential property within designated taxable regions of B.C. may be eligible for an exemption from the speculation and vacancy tax.

Shared Ownership

When more than one owner is on title for a residence in a taxable region, each owner claims their relevant exemption as an individual. Different eligibility requirements may apply to different owners.

Example: If a parent co-owns a home with their adult child and the adult child lives in the home and the parent lives elsewhere, then the following exemptions will apply:  

  • The child claims the principal residence exemption
  • The parents claim the tenancy exemption for family or other non-arm's-length persons

Example: An elderly parent adds their adult child on title to the parent’s condo in Vancouver for end of life planning. The parent still lives in the condo and the child lives in Prince George. The exemptions will apply as follows:

  • The parent claims the principal residence exemption
  • The child claims the tenancy exemption for family or other non-arm's-length persons

Click here for a list ofExemptions: https://www2.gov.bc.ca/gov/content/taxes/property-taxes/speculation-and-vacancy-tax/exemptions-speculation-and-vacancy-tax/individuals


Featured Listings

20 March 2019
Sutton Showplace Realty Chilliwack

A few of our Featured New Listings this week...

https://www.youtube.com/watch?v=ww2R8Hx7-lc&feature=youtu.be


New Mortgage Rules are impacting B.C. families' abilities to purchase homes.

18 March 2019
Sutton Showplace Realty Chilliwack

B.C. real estate board urges feds to revisit mortgage stress test

Stress test reducing people’s purchasing power by as much as 20 per cent, BCREA says...

B.C.’s real estate board is joining the chorus of voices across the country urging the federal government to revisit the year-old stress test rule that has been criticized for eroding housing affordability for many.

The B-20 stress test was implemented in January 2018 to help cool down the red-hot housing market in Canada’s major cities. Would-be homebuyers now have to qualify at an interest rate two percentage points above the rate they negotiate with the bank.

The BC Real Estate Association says the test is reducing people’s purchasing power by as much as 20 per cent.

“We would like to see a review and reconsideration of the current mortgage underwriting ‘stress test,’ as well as a return to 30-year amortizations for federally insured mortgages,” chief executive officer Darlene Hyde said in a news release Tuesday.

“These rules must be changed now before B.C. families are left further behind.”

The association has pointed to the stress test as the leading reason behind dipping home sales since last summer. Sales have dropped 45 per cent in Vancouver since 2018, compared to 18 per cent nationally.

The average price of homes in the Lower Mainland nearly doubled, while it remained mostly steady across the province, up just 0.5 per cent to $716,100, in the first quarter of 2019.

Housing analysts predicted in late December that prices in the Lower Mainland will rise by just 0.6 per cent this year, compared to five per cent in 2018. If true, a home will cost an average of $1.3 million by the end of the year.

Hyde said the test is having a negative impact on other facets of the economy, such as retail spending, as home equity declines in line with decreasing benchmark prices.

The Canadian Home Builders’ Association has also said the mortgage rules may force builders to pull back, leading to slower growth of the housing stock and yet another supply crunch and higher prices down the road.


Article from The Progress: https://www.theprogress.com/news/b-c-real-estate-board-urges-feds-to-revisit-mortgage-stress-test/?fbclid=IwAR23SZe11mB1Y2I1N9SqdsjuPP-_KPnEM-aGnieyZpR_1c0VcVttFaXYng8


OPEN HOUSES

08 March 2019
Sutton Showplace Realty Chilliwack

Our agents are hosting a number of OPEN HOUSES this weekend. Visit our Facebook Page for a list!


Featured Listings

06 March 2019
Sutton Showplace Realty Chilliwack

Check out just a few of our newly listed homes. Stay tuned on Friday for OPEN HOUSE info for this upcoming weekend!


Why Get a Pre-Listing Home Inspection?

18 February 2019
Sutton Showplace Realty Chilliwack

A pre-listing inspection can uncover previously unknown problems – major and minor – allowing sellers the opportunity to make repairs, updates or replacements as needed or as they wish.

Homes that are already on the market can be at a disadvantage if problems are revealed during a subsequent home inspection. Issues that the seller were previously unaware of could keep a property from selling at its highest potential price, when it’s too late to address them. A home in better condition will normally sell for more than one with problems that could have been corrected. Examples include a roof that needs replacing, heating that functions poorly and plumbing fixtures that leak.

By addressing these types of issues before the home goes on the market, you can list a home with greater knowledge of its condition. This can result in cleaner offers and a smoother transaction for both parties. Having well-informed sellers and buyers will work to everyone’s advantage, including yours.

Inspections include a comprehensive report, complete with photos, printed on-site so there’s no waiting for results. This allows sellers to get the information they need right away so they can decide on their next steps prior to listing. You can also share the report with potential buyers. This is especially important when it comes to issues that might not be addressed or repaired prior to sale. If repairs are made prior to listing, you can be sure to present records of the work being done, including any necessary permits.

With a pre-listing inspection in hand, your agent can market your home with greater confidence and for a better price.

https://pillartopost.com/news/why-get-a-pre-listing-home-inspection/?fbclid=iwar3jdkb7udnjnrtnatds5tvspvsmdatijabqtxisc2zawyw_zpqp4ggknwm

To Book an Inspection: Phone 800-294-5591


Featured Listings - Feb 13th

14 February 2019
Sutton Showplace Realty Chilliwack

Check out just a few of our newly listed homes. Stay tuned on Friday for OPEN HOUSE info for this upcoming weekend!


3 Problems Found During a Home Inspection

04 February 2019
Sutton Showplace Realty Chilliwack

Most home sales are contingent upon a respectable home inspection to the buyers’ satisfaction. An experienced and qualified home inspector should find something that could be repaired, upgraded, or corrected in every home they inspect. Even in newly built homes issues can be found.

We find there are a few items that are more commonly found during a basic home inspection than others. This is the list of the Top 3 issues found in most homes. This list can help sellers look for these issues and correct or repair the issue prior to selling or a buyer to be aware of what they should look for in a prospective home.

  1. Water Leaks
    When you talk to an experienced home inspector, you will learn that for home buyers, it is all about finding potential water problems. No one wants to move into their dream home, only to find leaks from the basement or roof, mould behind the walls, sewage backups from the street or toilets flooding inside the house. Water damage is expensive to fix, both inside and outside your home.
  2. Organic (Mould) Growth in Attics
    Attic mold, left unchecked, can grow and lead to structural deterioration of attic sheathing and roof structural elements. There’s an underlying moisture issue that needs to be resolved because mold requires moisture to grow and spread.  Mold in attics is scary to most would-be buyers and homeowners; mold staining in attics is an issue that will come up each and every time the home is inspected into the future.  And, the longer one waits to address it, the more expensive repairs and remediation become.
  3. Rodent Infestation
    A big danger of Rodent infestation such as rats or mice is that these small roents can chew on electrical wiring causing a catastrophic house fire. Rodent’s teeth are always growing and therefore they chew constantly. What are they chewing? Your home. Yep, that’s right. Mice can actually chew through soft concrete, aluminum, drywall, and plastic piping.


So be careful when purchasing your home. Complete your proper buyers due diligence and hire a reputable Home Inspector like Mr. Home Inspector.

The Mr. Home Inspector Specialists have inspected thousands of homes in the course of the 19 years being in business. All our specialists participate in Quarterly Education Sessions to ensure we are always educated with new inspection methods and tools. All our inspectors have a background in construction and are familiar with residential and commercial building techniques and know where to look for issues.

Mr. Home Inspector uses Electronic Reporting Systems to provide you the home buyer with a complete and reliable report including numerous pictures of all areas. All reporting is done while our inspector is on site. Every report includes our complimentary Mr. Home Inspector – Major Points report to help assist you in negotiation. As well as free technical support as long as you own your home.

Original blog post: http://www.mrhomeinspectorltd.com/top-3-problems-found-during-a-home-inspection/?fbclid=IwAR2URhmprmE30Raa5Pu_w5V9KJJnf4PJFDPjAJYGKI4uSYXwYp4gYZRAbbU

Toll Free: 1-877-837-3603

Email: Daniel@MrHomeInspectorLtd.com