Current Relevant Market Updates
Keeping our Customers Informed

Mar 31, 2009
Economic Update April 2009

Home Sales After being frozen by the shock waves from the financial crisis, there are signs of life reappearing in home sales. Housing starts are down a lot so far this year but home sales are now the key indicator, not starts. A stabilization in home sales points to a bottom in housing starts. At this point it is good enough just to see an improvement in the existing home market. This is giving the signal that buyer attitudes are...

[read more]

Source: Andersen Economic Research Inc.

Mar 26, 2009
The Horizon at Aspen Village - AB Buyers Still Coming!

http://www.calgaryherald.com/Business/Vote+Yourself+Island/1413027/story.html...

[read more]

Source: Kathy McCormick of the Calgary Herald quoting Derek Costantino / Anna Jorgensen Team

Mar 23, 2009
Positive Real Estate News in the US

In the news... Home Buyers Stir Hope in California: California's mortgage crisis hit this master-planned community particularly hard last year, and eventually 90% of mortgage holders here owed more than their homes were worth. But residents are allowing themselves the first twinges of optimism amid the gloom. The 2,600 existing homes in this development 60 miles east of San Francisco are selling at nearly three times last year's pace. One builder has sold about 30% more homes in 2009 than...

[read more]

Source: Wall Street Journal

Mar 23, 2009
Home Buyer's Plan RSP Withdrawal Limit Increased

The 2009 Federal Budget introduced some changes to the Retirement Savings Plans (RSPs), with the Home Buyer's Plan maximum withdrawal limit increasing from $20,000 to $25,000, for withdrawals made after January 27, 2009. For RRSP withdrawals made after January 27, 2009, the maximum amount that you can withdraw to purchase or build a qualifying home is $25,000, without having to pay tax on the withdrawal. If, for example, you had withdrawn $20,000 after December 31, 2008 but before...

[read more]

Source: Andrea Nowik Universal Mortgage Architects

Mar 08, 2009
Home Reno Tax Credit (more info)

Home Renovation Tax CreditTo stimulate economic growth and encourage Canadians to invest in improvements to their homes, Budget 2009 proposes to introduce a temporary Home Renovation Tax Credit (HRTC). The HRTC will provide meaningful tax relief to help Canadian homeowners make improvements to their property while promoting broad-based economic activity. The design elements of the HRTC are described below. Design of the CreditIndividuals will be able to claim a 15-per-cent non-refundable tax credit for eligible expenditures made in respect of eligible...

[read more]

Source: John Hudey, RBC Mortgage Specialist

Mar 08, 2009
The Comox Valley has it All! Article in the Winnepeg Free Press

From ski to surf - Vancouver Island getaway lets you do it all -- in one day, if you wantTHIS is a great place, "the fresh-faced Budget Rent a Car guy enthused as we gawked at all the green grass just outside the big glass doors of the Comox airport. ?You know? You can ski and golf here ? in the same day."Yeah, yeah, we know. In fact, we've heard an even bigger local boast -- that you can ski,...

[read more]

Source: Margo Goodhand, Winnipeg Free Press