Sutton Showplace Realty (2015) Chilliwack

  604-858-1800 

Featured Listings - Jan30

31 January 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!


Speculation Tax and Vacancy Tax

29 January 2019
Sutton Showplace Realty Chilliwack

Banner for B.C.'s speculation and vacancy tax

The speculation and vacancy tax is a key measure in tackling the housing crisis in major urban centres in British Columbia, where home prices and rents have skyrocketed out of reach for many British Columbians.

The provincial government is taking action because people who live and work in B.C. deserve an affordable place to call home.

The speculation and vacancy tax is a part of government's 30-Point Plan to make housing more affordable for people in our province.

This new annual tax is designed to:

  • Target foreign and domestic speculators who own residences in B.C. but don’t pay taxes here
  • Turn empty homes into good housing for people
  • Raise revenue that will directly support affordable housing

All owners of residential property in the designated taxable regions of B.C. must complete an annual declaration. Over 99% of British Columbians are estimated to be exempt from the tax.

HOW TO EXEMPT YOURSELF... read more here:
https://www2.gov.bc.ca/gov/content/taxes/property-taxes/speculation-and-vacancy-tax?fbclid=IwAR3_6M9UxoHmwkrT3Zd8fYuR6Y3D3bgkaRGy6RmM_Axzr542YfPnWMDNKNs

  News

Chilliwack’s redeveloped downtown may see new businesses as early as this Fall

24 January 2019
Sutton Showplace Realty Chilliwack

The article below is sourced from: The Chilliwack Progress.

Although revitalization plans for downtown Chilliwack were announced last summer, locals didn’t start seeing changes until December when demolition crews arrived and began excavating sites for new construction.

“We’re right on track, though … and hope to have the project done in four years,” said Dave Algra, vice-president of Algra Bros, the development company in charge of the project.

The ambitious project, which comprises four phases, will see the transformation of 3.75 acres of prime downtown Chilliwack real estate from vacant shops and empty streets, to a lively, community-driven atmosphere.

“It’s not our first rodeo, (so) we have a pretty good idea on how it’s all going to work,” explained Algra.

The company, which is located in Abbotsford, has been building in Chilliwack for several years now, says they approach their developmental undertakings as opportunities to create “spaces where people can be successful.”

“Our goal is to create something that … people enjoy being in (and) spaces to allow people to enjoy (local) businesses. We’re making a place for people,” said Algra.

The first phase of the project is the re-purposing of all existing buildings in the development area, which will also include the first part of the planned pedestrian street. And while construction is a sequential process that begins with the issuing of proper permits, which Algra is still in the process of securing, they’re expecting businesses to begin opening in new spaces come this fall.

“We hope to get them in in July or August for (tenant improvement projects),” said Jon Kinneman, Algra’s art director.

Phase two will be the construction of an 63-unit apartment building, which will significantly increase the amount of residential spaces in Chilliwack’s downtown core. There will also be 18 residential units on top of the existing buildings.

“Working with old buildings provides unique challenges,” explained Algra, “but no more buildings will be coming down. We’re trying to maintain (many of) the structures (as we) dismantle parts (and) sculpt walls into new facades.”

Phase three of the project will be a parkade, explained Kinneman, and the final phase will be a multiple-storey building that’s a mix of commercial and residential units.

With their eyes on global trends, said Kinneman, Algra Bros hopes to bring a modern, yet classical feel into the city’s aging downtown infrastructure. Walkable cities with blocks of small commercial fronts mixed with residential spaces create livable communities where local businesses thrive, which is Algra’s hope for Chilliwack’s future.

For more information on Chilliwack’s downtown redevelopment, please visit the Algra Bros project website at Chilliwackisback.com.



  News

Check to see if there's any rebates/incentives that apply to your home improvements.

16 January 2019
Sutton Showplace Realty Chilliwack
Did you know that there's rebates available to home owners in B.C? Whether you're looking to sell, or stay in your home long term, many of these upgrades could add value to your home and save you money on electricity and gas in the long run.
If you're thinking of upgrading or replacing items in your home, have a look at the website below to see if there's any rebates/incentives that apply to your home improvements. https://goo.gl/iynTA5
There's rebates for items such as heat pumps, geothermal heat, natural gas boiler & water heaters, windows, doors, appliances, insulation, and more!
The incentives offered are not solely for residential homes, there's rebates available for new construction residential, non-profit housing and commercial structures as well.

Featured Listings - Jan 9

10 January 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!


Takeaways from the 2019 B.C. property assessments

09 January 2019
Sutton Showplace Realty Chilliwack

Article from: https://www.bcbusiness.ca/Takeaways-from-the-2019-BC-Property-Assessments?fbclid=IwAR3q2tqBbxFsaDgp1E0GE1PG07bnBQLva2CVaORCV7zOzOWsyIPjrhmxahw

The 2018 B.C. property assessments made headlines recently, mostly because residential estates in Vancouver fell after years of big gains. Observers attribute much of that change to new restrictions on real estate from the NDP government. But throughout the rest of the province, downturns in value weren’t really the story. And the devaluations didn’t extend to commercial or industrial properties: non-residential estates enjoyed another year of gains across the board. Overall, assessments across B.C. rose by 1.07 percent.

Here’s what else we learned from the province’s real estate breakdown. Keep in mind that the assessments reflect market value as of July 1, 2018.

  • The community with the highest uptick in single-family residential properties? The village of Sayward. According to the 2016 census, Sayward has a population of 311. It’s located on the northeast coast of Vancouver Island, about an hour north of Campbell River. Sometimes statistics in a smaller community can be thrown off by an outlier or two, but the 44-percent increase seems to have affected the area somewhat equally.
  • Other small Vancouver Island communities like Tahsis (30 percent) and Cumberland (27 percent) saw massive surges in single-family assessments, too.
  • The lowest increase in single-family assessments on Vancouver Island came from Saanich, which was separated into two jurisdictions measuring 4 and 6 percent.
  • It’s not the same story in Greater Vancouver, where six regions saw a loss for single-family properties. Among them, Vancouver, Burnaby and North Vancouver each took 4-percent hits, while West Vancouver saw a 12-percent decline.
  • However, all regions in Greater Vancouver saw a rise in the assessed value of strata residential properties, with the lowest gain coming from Vancouver (6 percent). Whistler saw the highest such rise, with 23 percent.
  • Other than single-family residences in Richmond and White Rock (both down 2 percent), Fraser Valley property owners mostly got good news. Strata holders in Abbotsford (a 28-percent gain), Langley (27 percent) and Chilliwack (23 percent) did particularly well for themselves.
  • The lowest percentage uptick for strata owners in the Fraser Valley came from Delta’s 7 percent. Not bad.
  • Northern B.C. mostly saw single-family residential gains between 8 and 11 percent, with a few exceptions, notably increases in Kitimat (31 percent), 100 Mile House (20 percent) and Kitimat (20 percent).
  • However, there was a 23-percent drop in single-family residential assessments in the northeast corner of the province. The Northern Rockies Regional Municipality, which includes Fort Nelson, saw values plummet. Maybe not the best place to have an investment property.

What were your takeaways?