This past Saturday my wife and I decided we’d change things up and take the day off to enjoy one of Whistler’s bountiful summer offerings. As a real estate agent in Whistler my weekends are often spent working either showing property or meeting clients at my office, so it was a real treat to be a tourist for a day.

Bob and Sandra

Our adventure began by riding the Whistler Village Gondola to the alpine where the scenery was nothing short of spectacular and the air temperature was about 15 degrees cooler than it was in valley. Whistler was blessed with abundant snowfall this past winter followed by cooler than average temperatures in both May and June. What that translates to is lingering snow-pack on all the north and west-facing slopes – so much snow in fact that many of the popular summer hiking trails remain closed. However, Whistler Blackcomb was not going to let a little snow curtail their mountain top activities. Snow shoeing in July? How about tubing in the high alpine? Determined to offer access to the high alpine hiking, Whistler Blackcomb used their snow grooming machines to clear the Pika’s Traverse trail and Mathew’s Traverse road of all snow.

In doing so they created an opportunity to ride the Peak Chair and hike down or alternatively to hike up to the top of the Peak Chair. Deciding that the walk downhill might be a bit hard on our knees we chose the latter (Pika’s Traverse to the top of Harmony Chair and Mathew’s Traverse to the top of the Peak Chair). With the Harmony Bowls and Spearhead Range as a back drop this challenging uphill walk is well worth the effort. Hiking in short sleeve shirts and shorts we were surrounded by snow. At times the cut banks along the edge of the trail towered 15 -20 feet above us! Everywhere we looked we saw smiling faces, people making snowballs, carving their initials in the snow banks along the edge of the trail, taking pictures, picnicking. The reward at the top of the hike is the spectacular ride down the Peak Chair offering a chance to relax and literally take in the panorama of the Whistler Valley and surrounding mountains. From the bottom of the Peak chair it was a short walk back to the Roundhouse Lodge for a quick bathroom break and a little people watching (everything from serious hikers to those in sandals and even the occasional pair of high heeled shoes).

Next up was the famous Peak 2 Peak Gondola ride across the valley to Blackcomb Mountain where we re-hydrated and enjoyed a casual lunch on the patio of the Rendezvous Lodge.

Blackcomb Mountain offers skiing & snowboarding on the Horstman Glacier until early August, so the scene on Blackcomb Mountain is a little different and often peppered by the colorfully attired snowboarders & skiers coming down from or heading up to the glacier. Christine’s Restaurant in Rendezvous Lodge offers a fine dining alternative to the more casual fare we chose and they were doing a fine business both inside the restaurant and outside on their generous deck….another day perhaps or maybe one of the Mountain Top evening BBQ’s on Whistler Mountain…..

We wrapped up our day as tourists by riding down the Solar Coaster and Wizard Chairs on Blackcomb Mountain taking in the scenery and welcoming the warmth of the valley below as it gradually transported us back to summer and all the fun things that summer offers up in this magnificent valley…..”Living the Dream”.

Cheers!

“The global economic recovery is proceeding but is not yet self-sustaining. Greater emphasis on balance sheet repair by households, banks, and governments in a number of advanced economies is expected to temper the pace of global growth relative to the bank’s outlook in its April Monetary Policy Report (MPR). While the policy response to the European sovereign debt crisis has reduced the risk of an adverse outcome and increased the prospect of sustainable long term growth, it is expected to slow the global recovery over the projection horizon. In the United States private demand is picking up but remains uneven.”

Global cost-cutting measures are currently being attributed for slowing the economic recovery, as governments and consumers alike are monitoring spending more than ever. The central bank said that Canada’s employment rate is slowly growing, but business investment is being held back and the housing sector is “declining markedly from high levels.”

“The bank has taken a step closer towards our world view, but they’re not there yet,” CIBC World Markets chief economist Avery Shenfeld said. “We believe there will still be rate rises in September and October before maybe a pause of six months as weaker figures start coming through.”
CIBC expects growth of 3.3% this year, dropping to 2.5% next.

Local pre-sale tickets were available as of Monday June 21st, and Early Bird Tickets will be available to the public at early bird rates of $125 for the weekend and $79 for single-day tickets as of Friday June 25th until Friday July 9th.

Matthew Good, Bad Religion, Devo, Tokyo Police Club, Mother Mother, The Decemberists, The Tennessee Three (think Johnny Cash), The Dudes, Jon and Roy, and many others will be featured in the two-day outdoor all ages  musical extravaganza.

For more information, go to their hilarious website: Live at Squamish

See you there!

Kelowna, BC   – Serious year-over-year gains have characterized sales in most major Canadian recreational property markets this year, according to a report released today by RE/MAX.

The 2010 RE/MAX Recreational Property Report, highlighting sales, prices, trends and developments in close to 50 markets from coast-to-coast, found that 79 per cent of recreational areas reported an upswing in the number of properties sold during the first three months of the  year.  Starting prices for recreational product were also on the move, with 43 per cent posting a nominal increase.  Inventory levels, with the exception of the coveted entry-level price point, were healthy and balanced market conditions prevailed in most areas.

“Stronger than expected economic recovery, combined with additional incentives such as rising interest rates, stricter lending criteria, and a new sales tax, have served to kick-start activity in recreational property markets from coast-to-coast,” says Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada.   “Entry-level product is experiencing the greatest demand this year, as value-driven purchasers look to stretch their dollar as far as it will go.  This is especially true in Western Canada, where values have softened considerably year-over-year, but are now starting to firm up.”

The rebound in stock portfolios and greater stability in personal finances has added fuel to the fire.  Baby boomers and Generation X – aged 35 to 55 years – are working in tandem as a result, snapping up modest properties located on prime waterfront.  Despite the upward pressure on starting prices, the RE/MAX Report found that one in every four recreational property markets still offers winterized, waterfront product priced below $250,000.

“Opportunities exist for savvy purchasers across the country at virtually every price point,” says Sylvain Dansereau, Executive Vice President, RE/MAX Quebec.  “Recreational property buyers in the mid-to-top end have a definite edge in the market, with greater purchasing power than in years past.  Those in the lower end will find that there are more waterfront options available than ever before. ”

The most affordable starting prices were found in: Newfoundland Coast, NL ($105,000), Shediac Bay ($230,000), and South Shore/North Shore, NS ($230,000 to $240,000) in Atlantic Canada; The Laurentians ($175,000) in Quebec; Prince Edward County ($200,000 – $250,000), Elliot Lake ($215,000), Parry Sound ($219,900), East Kawarthas ($225,000), and Bancroft ($235,000) in Ontario; and South Central Cariboo ($180,000), Lake Winnipeg ($250,000), Canmore ($270,000) and Ucluelet ($499,000 for oceanfront) in Western Canada.

“While sales have been strong out of the gate, the number of waterfront cottages, condominiums, and back lot properties sold in the first quarter still fall short of pre-recession levels,” says Michael Polzler, Executive Vice President, RE/MAX Ontario-Atlantic Canada.  “However, with peak season fast approaching, stimuli such as softer values, greater selection, and relatively low interest rates may prove difficult for recreational property buyers to resist.”

Similar conditions existed in residential housing markets across the country last spring, setting the stage for heated second, third, and fourth quarters of 2009.  Affordability was top of mind then, as it is now, with many prospective purchasers cautiously venturing into the market. 

 Highlights:

• Of the markets that experienced an increase in starting prices, half were value-priced, with winterized waterfront product available under $350,000.  The remainder was typically comprised of prime, sought-after markets favoured among purchasers such as the Georgian Bay and Lake Simcoe areas and the Muskoka Region.
• The most expensive recreational property markets included: Sylvan Lake, AB ($1.2 million); Vernon, BC in the North Okanagan ($1.15 million); Tofino, BC ($875,000); Cultus Lake/Harrison Lake, BC in the Fraser Valley ($800,000); Whistler, BC ($799,000) and Salt Spring Island, BC ($750,000).
• Americans have virtually fallen off the map in Canadian recreational properties.  Only ShediacBay, where recreational property values are a fraction of those in the US, continues to draw eager purchasers from the eastern seaboard of the United States.
•  Bargain-priced properties in the Southern United States are still having an impact on Canadian recreational property markets, drawing some purchasers south of the border to areas such as California, Arizona, Nevada and Florida.  
• Pent-up demand will continue to prop up recreational property sales in markets from coast to coast this season, as buyers who sat on the sidelines in 2008 and 2009, finally enter the market, spurred on by better prices, good affordability, and economic recovery.

RE/MAX is Canada’s leading real estate organization with over 17,500 sales associates situated throughout its more than 680 independently-owned and operated offices across the country.  The RE/MAX franchise network, now in its 37^th year, is a global real estate system operating in 80 countries.  Over 6,450 independently-owned offices engage over 92,000 member sales associates who lead the industry in professional designations, experience and production while providing real estate services in residential, commercial, referral, and asset management

http://www.remax-western.ca/files/attachments/Rec%20Prop%20Report.pdf

(Kelowna, BC) – RE/MAX has been awarded Most Trusted Residential REALTOR® as voted on by readers of Reader’s Digest magazine. The survey conducted for the annual awards revealed that the majority of Canadians trust RE/MAX for all their residential real estate needs, ranking RE/MAX associates five-times more ‘trusted’ than the second most trusted brand.

“Our associates should be proud and honoured to receive the confidence of Canadian consumers as the Most Trusted Residential REALTOR®,” says Elton Ash, Regional Executive Vice President for RE/MAX of Western Canada. “It’s an inspiring merit that the best trained and most experienced agents have received for providing valuable assistance to so many families.”

Ash believes that this distinction awarded to Canadian RE/MAX associates is due in part to two notable attributes. The first being “Premier Community Citizenship” – a quality that RE/MAX associates share by being ever-mindful of the impact they make locally as they are involved with their communities through volunteering, fund-raising and more.

The second is that RE/MAX associates carry more professional designations than any other REALTOR® in Canada. RE/MAX agents are invested in additional education in specialized areas such as Senior’s representation, commercial brokerage and luxury homes.
RE/MAX is Canada’s leading real estate organization with over 17,500 sales associates situated throughout its more than 680 independently-owned and operated offices across the country.

The RE/MAX franchise network, now in its 37th year, is a global real estate system operating in more than 70 countries. Over 6,500 independently-owned offices engage over 115,000 member sales associates who lead the industry in professional designations, experience and production while providing real estate services in residential, commercial, referral, and asset management.

For more information, visit: www.remax.ca.

Readers Digest Trusted Brands 2010

69 per cent of markets set records for best-ever first quarter sales
Luxury home sales soared in the first quarter of 2010 as affluent purchasers moved to take advantage of favourable market conditions across the country, according to a report released today by RE/MAX.
The RE/MAX Upper End 2010 Report, highlighting sales and trends in 13 major Canadian centres and five sub-markets, found that improved economic performance, increased personal wealth, immigration and foreign investment all contributed to a serious upswing in sales. Virtually all areas experienced double and triple-digit increases between January and March of this year over 2009 figures for the same period. Nine out of the 13 markets examined (69 per cent) shattered existing records – setting new all-time highs for first quarter activity in the upper end.
“Recovery in the upper end has been nothing short of remarkable,” says Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada.

“This segment of the market was hardest hit when the recession took hold—yet its comeback has been fast and furious. There is no doubt that mindset has changed and confidence has returned. One only has to look at the percentage increases to see the current upward trajectory.”
While comparisons are being made to one of the worst first quarters on record – it’s important to note that the bounce back in many areas – including Greater Vancouver, Victoria, Winnipeg, London-St. Thomas, Greater Toronto, Ottawa, Montreal (Island), Halifax-Dartmouth, and St. John’s — exceeds record levels reported in years past. Leading in terms of percentage increase in sales is Kelowna (700 per cent), Montreal (Island) (300 per cent), Victoria (275 per cent), Greater Toronto (263 per cent), Greater Vancouver (184 per cent), Hamilton-Burlington (169 per cent), Edmonton (164 per cent), London-St. Thomas (125 per cent), and Ottawa (121 per cent).
“Real estate continues to resonate with purchasers at every price point,” says Michael Polzler, Executive Vice President, RE/MAX Ontario-Atlantic Canada. “With the top end of the market shifting into high gear, every segment of the residential real estate sector is now operating in tandem. Despite the upward momentum, there are still deals to be had – especially at the higher price points—a fact that is motivating buyers to act.”
Economic performance has been a major driver, boosting consumer confidence levels across the board. The tangibility of bricks and mortar has also played a role in record activity – a development that began in 2008 as affluent purchasers reduced their exposure to equities and shifted their earnings into real estate holdings. Recovering stock markets – and portfolios – in the months ahead will further contribute to housing market activity.

“Luxury sales as a percentage of the market have been steadily increasing in recent years – with the exception of 2009,” says Sylvain Dansereau, Executive Vice President, RE/MAX Quebec. “With the return to economic growth, it’s expected that the number of high net worth individuals will begin to rebound, following two years of consecutive decline. This will continue to help prop up Canada’s luxury market going forward.”
Immigration and foreign investment have also had an impact on the luxury segment – and in some markets, seriously bolstered sales. Middle Eastern buyers, Mainland China investors, and Europeans—to a lesser extent—are represented in virtually every market across the country. Canada’s sound banking system, political stability, and strong dollar are attracting foreign investment – and that is spilling over into high end residential real estate.
Most active in 2010 were business executives, entrepreneurs, and professionals. Location was first and foremost among upper-end buyers, followed by a preference for newer homes or those that are turn-key (completely renovated). With the exception of Toronto, buyers could be relatively particular and take their time in making decisions as balanced conditions characterized markets across the board. Given adequate supply, prices are likely to hold steady or experience modest increases in the majority of markets in 2010.
Canada’s most expensive luxury markets are shared equally among East and West, with Greater Vancouver topping the entry-level price point for high-end homes at $2 million, followed by $1.5 million in Greater Toronto and Montreal (Island). Upper-end value markets were most abundant in Atlantic Canada and smaller centres in Ontario, where luxury home prices started at $400,000 in St. John’s, $450,000 in Halifax-Dartmouth, $500,000 in London St. Thomas, and $750,000 in Ottawa and Hamilton-Burlington. Winnipeg and Edmonton represented good value in the West at $500,000 and $850,000 respectively.

Greater Vancouver holds the title for the most expensive home sold through MLS in the first quarter. The property—an 11,600 sq. ft. home on ¾ of an acre on the city’s Westside, changed hands for $10.06 million. Other noteworthy sales include: $7.25 million in the Greater Toronto suburb of Mississauga, $6.25 million in Toronto’s central core, $5.75 million in Calgary, $5.5 million in Montreal (Island), and $5.3 million in White Rock/South Surrey. The priciest MLS listings could be found in West Vancouver ($29.9 million), Greater Toronto ($23 million in Bridle Path), Vancouver Westside’s Shaughnessy area ($22 million) and Victoria ($19 million).
RE/MAX is Canada’s leading real estate organization with over 17,500 sales associates situated throughout its more than 680 independently-owned and operated offices across the country. The RE/MAX franchise network, now in its 37th year, is a global real estate system operating in 80 countries. Over 6,450 independently-owned offices engage over 92,000 member sales associates who lead the industry in professional designations, experience and production while providing real estate services in residential, commercial, referral, and asset management. For more information, visit: www.remax.ca.
Within the RE/MAX organization, luxury properties are marketed as “The RE/MAX Collection.” A “RE/MAX Collection” property will have a listing price exceeding three times the average home price of the local real estate board. “RE/MAX Collection” properties can be found at remax-western.ca by clicking on the Search for Luxury Properties homepage button.

For consumers, goods and services (with some exceptions) will be subject to the H.S.T. in the same manner as they are currently subject to GST. This applies to real estate as well.

H.S.T. has different implications for both used residential real estate and new residential real estate. There are also different rules for commercial properties, mobile homes and other types of real estate.

For both used and new homes, there are some extra costs for buyers or sellers but these are for the services required to buy or sell, not on the price of the home.

Buyers of used residential real estate can expect to pay H.S.T. on items such as home inspectors, appraisals and other such services. Lawyer fees will not change as they have been forced to charge P.S.T. for years.

Sellers of used residential real estate can expect to pay H.S.T. on realtor commissions, and any other services they may use (we can’t think of any).

USED RESIDENTIAL REAL ESTATE
There is no H.S.T. on the price of used residential real estate, much like the current rules regarding G.S.T. There are no extra closing costs on the purchase or sale of a used residential house, subject to the comments above. But there will be extra costs on the SERVICES involved in the purchasing and selling process.

NEW HOUSING
H.S.T. will be payable on the sale of new or substantially renovated homes, where the Contract of Purchase and Sale was entered into after November 18, 2009 and both ownership and possession of the home is transferred after June, 2010. H.S.T. will not be payable on sales of newly constructed or substantially renovated homes where ownership or possession of the home is transferred before July 2010, or where the Contract of Purchase and Sale is dated prior to November 18, 2009.

New Housing Rebate
The Provincial Government is proposing a New Housing Rebate (“the Rebate”) to ensure that purchasers of homes priced up to $525,000 would pay no more tax, on average, than under the current P.S.T.
The Rebate is 71.43% of the provincial component of the H.S.T. paid, up to a maximum of $26,250.00.

The government states that while sales of new homes in B.C. are not directly subject to the P.S.T., building materials used in the construction of homes are subject to the 7% P.S.T. The total amount of P.S.T., on average, embedded in the selling price of a new home is estimated to be equal to two percent. As a result, the government claims that purchasers of homes priced up to $525,000 would pay no more tax, on average, than under the current P.S.T. This of course assumes that the price of homes drop 2% due to the elimination of P.S.T. on building supplies.

The new housing rebates would be federally administered in a manner similar to the G.S.T. rebates for new housing. Individuals would be able to file an application for the rebate directly with the Canada Revenue Agency. However, in the case of homes sold by the builder, similar to the G.S.T. new housing rebates, the builder would have the option of paying or crediting the new housing rebate to the purchaser at the time of purchase.

Other rebates
New housing rebates would be available for the provincial component of the H.S.T. paid for all types of housing eligible for G.S.T. new housing rebates. This includes rebates for the following:

• purchases of new houses together with leased land
• purchases of new mobile homes and floating homes
• houses acquired through the purchase of qualifying shares in a housing co-op
• owner-built homes
• New rental housing rebates

For more information, please be sure to consult with your lawyer.

Properly prepared homes will sell quicker and for a better price. When you list your home with a RE/MAX real estate agent, we’ll give you the complete RE/MAX “Fit to Sell” homeowner package, giving you the secrets on how to stage your home so that buyers get the best first impression when viewing your property – inside and out.

In a series of 10 short videos produced for RE/MAX by designer and home-staging expert, Carla Woolnough, presents home staging tips on how to make your home most appealing.

View sample home staging topics by clicking on the highlighted “video” links below. Discover how to make simple home improvements that will enhance air quality, curb appear, flooring, painting, lighting and simple updates and repairs. As well as smart home staging ideas to de-clutter, depersonalize, enhance the main selling rooms of your home, ideal furniture and much more.

To receive the complete “Fit to Sell” Homeowner Package containing all 10 home staging videos, tips and checklists, contact your nearest RE/MAX real estate agent.

Watch a few of the videos now for amazing home staging tips from the experts:

Air Quality Video

Curb Appeal Video

Depersonalizing Your Home Video

1. All borrowers will need to meet the standards for five-year fixed-rate mortgages regardless of whether they’re seeking a loan with a lower rate and shorter term.
2. The government is lowering the maximum amount Canadians can withdraw when refinancing to 90%  of the value of their homes, down from the current 95%.
3. Purchasers of invstment properties will now have to put down a 20% down payment for government-backed mortgage insurance.

Although the Canadian housing market is very strong, the Canadian government announced these changes on February 15th to “help prevent negative trends from developing.”