5550 Marine Drive, UBC, Vancouver, British Columbia, Canada, V6T 1A2.

The best location in UBC area! Rear find! Jewel in the Crown. Incredible & Exclusive 180 degree water and mountains view. Well kept 6740 sqft Tudor home sitting on 43,200 sqft huge lot.Enjoy your own quiet & blissful retreat, minutes from the  beach with this rare & unique property. Surrounded by old growth forest, offers you an opportunity to refresh and renovate or build your own dream home. An open concept featuring wood paneling and etched glass illuminates the entirety of this home. Build over 4 levels this home offers 4 large bedrooms,and open kitchen with granite island and counter top, outdoor pool, nanny suite. Minutes to University Hill Elementary & Secondary School. Close to Golf Club, shopping & restaurant.

Bedrooms: 5

Bathrooms: 6

Age: 59 years

Total finished floor area: 6,740 sqft

Total lot area: 43,200 sqft

Asking price: $ 18,800,000

Listing info courtesy of Sotheby’s Int’l Realty Canada

On February 21st the BC Government announced a temporary New Home Buyers Bonus on eligible purchases. For complete details please click on the attached link to the BC Government posting.

http://www.bcbudget.gov.bc.ca/2012/homebuyers/2012_First_Time_Home_Buyers_Fact_Sheet.pdf

Higher HST Rebates for consumers and HST to PST transition rules...

On February 17th, the BC Minister of Finance, Kevin Falcon released HST transition rules and tax relief measures for the home building industry and its customers. Tax relief measures include:

Effective April 1, 2012, the HST rebate threshold on new homes increases to $850,000 from $525,000. The maximum rebate rises to $42,500 from $26,250.

 

Measures are also in place for the secondary/recreational home industry outside of the Greater Vancouver and Capital Regional Districts, where the HST rebate threshold rises to $850,000 from $0, also effective April 1, 2012.

For more information about the new rebates, go to http://www.pstinbc.ca/ and click on "New Housing Rules".

Sub Penthouse 2-1011 W. Cordova St., Coal Harbour, Vancouver, British Columbia.

Stunning Fairmont Pacific Rim Sub-PH with sensational huge landscaped deck. Located on Coal Harbour waterfront above the 5 Star Fairmont Pacific Hotel this unique luxury residence has many sophisticated features including Corian millwork,  white marble baths, chef's kitchen, extensive lighting, distributed music system, home theater & automation, & outdoor firepits. A rare trophy property with views stretching from Stanley Park, Coal Harbour, the Five Sails and to Burrard Inlet that is perfect for entertaining. Includes 4 parking stalls & massive private storage room. Enjoy all the amenities of Fairmont Pacific Rim including Concierge Service, luxurious gym & spa, valet parking, rm service, maid service, & BMW chauffer drivers. 

Name of Building: Fairmont Pacific Rim

Bedrooms: 2

Bathrooms: 2.5

Age: 2

Grand total area: 3,358 sqft

Asking price: $ 11,288,000

Listing info courtesy of New Asia Realty

1988 Drummond Dr., Point Grey, Vancouver, British Columbia, Canada, V6T 1B8

Stunning Point Grey masterpiece. This spectacular 12,184sqft custom built home +8,96sqft attached 2 level cottage feat ultimate in detail & design. The main floor is designed /w an open floor plan feat oak H/W floors thru-out, living room /w an adjoining library/office, dining room & family room overlook a beautiful O/D swimming pool, gorgeous chef's kitchen with marble counter tops, Italian ceramic micro tile flr & top of the line S/S appliances. 3 ensuite bedroom up, deluxe master bedroom with his & her bath & balcony. Basement feat an unbelievable wine cellar (can store 1600 bottles), huge rec room, home theatre & exercise room /w hot tub & steam/sauna rm. 10 car garage. Beautiful landscaped garden /w fruit orchard, vegetable & herb garden & 1 bedroom laneway house.

Bedrooms: 4

Bathrooms: 8 (5F/3H)

Age: 5 years

Total finished floor area: 12,184 sqft

Total lot area: 65,433 sqft

Asking price: $ 19,600,000

Listing info courtesy of Royal Pacific Realty

The Real Estate Board of Greater Vancouver Housing Market Update for January 2012 with REBGV president Rosario Setticasi.
For more news and statistics visit us at http://www.rebgv.org

The government today announced the HST/PST transitional rules on new homes.

As the province transitions back to the PST, which will replace the HST effective April 1, 2013, measures to ease the HST burden on new home buyers include:

• The BC New Housing Rebate threshold will increase to $850,000 from $525,000, so that more than 90% of newly built homes will now be eligible for a provincial HST rebate effective April 1, 2012.
• The maximum rebate will increase to $42,500 from $26,250 effective April 1, 2012.
• Buyers of new secondary vacation or recreational homes outside the Greater Vancouver and Capital Regional Districts priced up to $850,000 will now be eligible to claim a provincial grant of up to $42,500 effective April 1, 2012.
• For newly built homes where construction begins before April 1, 2013, but ownership and possession occur after, purchasers will not pay the 7% provincial portion of the HST. Instead, purchasers will pay a temporary, transitional provincial tax of 2% on the full house price.

HST/PST transition rules will help ensure that whenever purchasers buy a new home they will all pay a consistent and equitable amount of tax, whether the home is built:

• entirely under the HST;
• entirely under the PST; or
• partly under HST and partly under the PST.

The temporary housing transition measures will be in place until March 31, 2015. The tax only applies to homes where construction begins before the transition date and ownership and possession occur after.

REBGV successfully advocated for the following:

• An increase in the threshold value of homes to be covered by the rebate;
• An increase in the rebate amount;
• An announcement of the transition rules for new homes as early as possible.

The BC Real Estate Association plans to provide Boards with a list of FAQs and draft contract language that REALTORS® can use in their listing agreements and contracts of purchase of sales contracts. We will post these on www.realtorlink.ca and in REALTORLink News.

For more information, visit the BC Ministry of Finance at: www.pstinbc.ca

To read the Ministry of Finance announcement: www.newsroom.gov.bc.ca/2012/02/transition-measures-support-new-home-buyers-builders.html

Way down from a year ago, last year we had 24 sales, this year only 10.

Same number of units sold as 2011, but the ones sold in 2012 were more expensive.

The article is called “In a cooling housing market should you wait to buy hurry up to sell? Here’s the link to the full article: http://www2.macleans.ca/2012/02/03/in-a-cooling-housing-market-should-you-wait-to-buy-and-hurry-up-to-sell/

Sub PH2 – 1011 W. Cordova, Fairmont Pacific Rim, Coal Harbour, Vancouver, Canada.

Stunning Fairmont Pacific Rim Sub-PH with sensational huge landscaped deck. Located on Coal Harbour waterfront above the 5 Star Fairmont Pacific Hotel this unique luxury residence has many sophisticated features including Corian millwork,  white marble baths, chef's kitchen, extensive lighting, distributed music system, home theater & automation, & outdoor fire pits. A rare trophy property with views stretching from Stanley Park, Coal Harbour, the Five Sails and to Burrard Inlet that is perfect for entertaining. Includes 4 parking stalls & massive private storage room. Enjoy all the amenities of Fairmont Pacific Rim including Concierge Service, luxurious gym & spa, valet parking, room service, maid service, & BMW chauffer drivers. 

Name of Building: Fairmont Pacific Rim

Bedrooms: 2

Bathrooms: 2.5

Age: 2

Grand total area: 3,358 sqft

Asking price: $11,288,000

Listing info courtesy of New Asian Realty Inc.