by Macrealty Marketing Team | Mar 15, 2017 | Company, In The News
Looking for a stylish starter home in North Vancouver? This new listing from Bri Ragona of Macdonald Realty was featured on HTGV’s hit show Love It or List It and in Style at Home magazine. It proves the old adage that good things come in small packages and will make a stunning place to call home for a lucky buyer! Stop by the open house this weekend to see it in person – Saturday and Sunday, March 18th & 19th, 2-4 PM.
List Price: $1,498,000 | Bedrooms: 3 | Bathrooms: 1 | Living Space : 2,588 sq ft | Lot Size: 36 x 147 (5,292.00)
This charming 1912 character home is located in desirable Central Lonsdale.
The gorgeous open concept main floor has engineered hardwood throughout.
Enjoy stunning navy blue kitchen cabinets with sparkling white quartz countertops. High end stainless steal appliances including 36″ gas range and an additional oven. Solid home – over 200K spent in upgrades.
Family room off kitchen with gas fireplace and custom built ins.
1 bed on main floor and 2 large bedrooms up.
The brand new 24×15 ft cedar deck is perfect for entertaining and overlooks a large backyard.
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Read designer Jillian Harris’ LOVE IT OR LIST IT take on this old charmer’s miraculous update over on her blog jillianharris.com
by Macrealty Marketing Team | Feb 24, 2017 | Company, In The News
(left to right) Darin Germyn, Vice-President; Gopal Sahota, President; John Barbisan, President-Elect
SURREY, B.C., Canada (February 22, 2017) – At the annual Fraser Valley Real Estate Board (FVREB) Annual General Meeting, Darin Germyn from Macdonald Realty South Surrey/White Rock office was elected to be the Vice President of the Board.
The FVREB is a professional association of more than 3,280 Realtors in the Fraser Valley providing its members with a variety of membership services including the Multiple Listing Service®, professional development and technological innovation. Fraser Valley’s new Board of Directors takes office on March 1, 2017.
For more details about FVREB Annual General Meeting in 2017, please click HERE.
by Macrealty Marketing Team | Nov 23, 2016 | In The News
Claire Wyrostok, owner of popular Vancouver vegetarian restaurant Black Lodge, wonders how long it will be until Vancouver’s hot real estate market pushes her out of business. In the four years that Ms. Wyrostok has been at her current location, on Kingsway just off Fraser Street, many of the buildings in her strip have been sold and property values have more than doubled. Since Ms. Wyrostok’s three-year lease came up for renewal in March, she says the landlord is allowing her to rent only month to month.
“Every day I don’t know if I am going to get a notice with 30 days to get out,” Ms. Wyrostok says. “Our business is done,” she adds. “You develop a business to make it bigger, but we can’t expand, and we can’t sell our business. Our business has no value on paper, because the asset is the lease.”
While the residential real estate market in Vancouver is cooling, sales of commercial properties in the region have skyrocketed. The Re/Max Commercial Investor Report says there was a 94-per-cent increase in the total dollar value of Lower Mainland sales in the first half of 2016 compared with the first half of 2015, to $7.1 billion from $3.7 billion. The number of commercial property sales in the first half of 2016 was 1,464, compared with 1,138 in the same period last year.
And some, including Tony Letvinchuk, managing director for Macdonald Commercial Real Estate Services, believe that the foreign-buyer tax on residential purchases will play a role in driving the market, which is generally perceived as a balanced mix of local and foreign buyers.
“There’s no question that the additional 15-per-cent property purchase tax will motivate foreign entities – being those who are not Canadian citizens or permanent residents – to consider purchasing commercial properties located in Greater Vancouver, where such transaction tax does not apply,” he says.
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by Macrealty Marketing Team | Oct 17, 2016 | In The News
Recently the Canada Revenue Agency (CRA) changed its administrative rules so that, unlike the past, if you sell your principal residence in 2016 or later years, you must report:
- The sale including the date and price of acquisition, the sale price and date and a description of the property; and
- The fact that the property was a principal residence
on your income tax return filed in 2017 if you want to claim the full principal residence exemption. The exemption means that no tax is paid on a property that is the principal residence of the seller. In the past CRA did not require taxpayers to report the capital gains on the sale of principal residences.
If you don’t claim the exemption then CRA will treat any gain in the value of the property as a taxable capital gain. One half of capital gains are deemed to be income in the year in which the capital gain is realized. The top marginal rate for income taxes in British Columbia is nearly 48% for income in excess of $200,000.
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by Macrealty Marketing Team | Oct 14, 2016 | In The News
Sales of condos and townhomes could soften in Canada’s two largest housing markets as first-time buyers face tougher lending rules that take effect on Monday.
The mortgage changes will likely be felt especially hard in Greater Vancouver and the Greater Toronto Area, according to the Canadian Real Estate Association.
“First-time home buyers, particularly in housing markets with a lack of affordable inventory of single-family homes, may be priced out of the market by the new regulations that take effect on Oct. 17,” CREA chief economist Gregory Klump said in a statement on Friday.
He made the comment as CREA released data showing the average price for various housing types sold nationally in about 100 markets in September reached $474,590, up 9.5 per cent from the same month in 2015. Sales volume increased 4.2 per cent.
Last week, the federal government announced measures to tighten mortgage rules. Ottawa is also closing tax loopholes used by some foreign buyers.
In most cases, homeowners who are looking to upgrade to larger houses must first sell their existing properties before they are able to acquire their next place.
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by Macrealty Marketing Team | Oct 3, 2016 | In The News
The federal government announced new measures for housing market to slow the injection of foreign cash and to tighten eligibility rules on prospective borrowers. Jonathan Cooper, vice president of operations at Macdonald Real Estate Group, joins BNN with perspective on Ottawa’s new housing policies.
Realtor: Ottawa’s new housing policies ‘logical step’
(To view the video on mobile devices, please click here for direct play on BNN.)
About Macdonald Real Estate Group
Based in Vancouver, Canada, Macdonald Real Estate Group (MREG) has an annual sales volume of over $7 billion and over $2 billion in assets under management. With more than 20 offices and nearly 1,000 staff and REALTORS®, MREG offers a full range of real estate services, including residential and commercial brokerage, property and strata management, project marketing, and the MREG Canadian Real Estate Investment Centre in Shanghai, China. Macdonald Realty is the residential division of Macdonald Real Estate Group. For more information, visit www.macrealty.com.
