Why The Foreign Buyer Tax Will Punish Local Sellers The overall consensus after the 15% Vancouver Foreign Buyer Tax was announced was a sense of relief from locals who have been desperate for the government to act. If you’re still not sure how to feel read What To Make of the Vancouver Foreign Buyer Tax.  Soon after the announcement though president of the Real Estate Board Dan Morrison came out and slammed foreign buyer tax.  Dan made some really good points, specifically pointing out that current deals which were slated for completion after August 02 deadline should be exempt. “The only people calling me more than the media today are realtors upset about this because they’ve got clients that are B.C. residents and voters that are going to get hit hard by this if their transactions aren’t exempt.” He went on to say “If they did, that puts the seller in a very difficult situation because based on the strength of that contract, they’ve gone out and committed to buying another house. If the buyer defaults on their house, they don’t have the funds necessarily to go and buy their new home. So you could get this chain reaction of contracts that

A Day For The History Books- Foreign Buyer Tax Introduced I was sitting in my office when I heard the news. A CBC reporter called me to ask what I thought. It was the first I was hearing of it so I really couldn’t give him an answer until I read it for myself. A 15% tax on all foreign buyers starting August 02, 2016. The Metro Vancouver foreign buyer tax does not target foreign capital and the many loopholes buyers can use to purchase property. None the less it seemed like a giant step forward from a government who denied the issue entirely only several months ago. A minute later a disgruntled Realtor came barging into our computer area and said ‘Can you believe it, what the hell are they thinking?’ So I guess not everyone is happy about the new tax. In what seemed like a huge win for local Vancouverites, how could anyone not be happy about it? A few reasons I heard today: The government is going to tank the market and kill the economy. Restricting foreigners is prejudice and we are a welcoming society. Vancouver has always been expensive, if you can’t afford it then

Have Airbnb Investments in Vancouver Reached Problematic Levels? I want to say it’s funny but it’s really not. Only because I’ve noticed many Vancouverites who complain about Airbnb taking up valuable rental supply in Vancouver are the same ones who will use Airbnb on their next vacation. I understand the argument from both sides. Airbnb is a drag on local housing and the economy, but my goodness is it not an incredible option when traveling? How do we find a happy medium? I recently used it to host my cousins stag in Whistler. Where else can you rent a 3 bedroom condo all to yourself, host a stag for under $100 per person and not get booted. I also used it last year for my mens league hockey tournament in Kelowna. We rented a mansion right on the lake for $1200 a night. It worked out to be cheaper than booking hotel rooms for everyone. We were able to get everyone under one roof, had some amazing times, cranked some music, bonded as a team and undoubtedly won the tournament. It was an unforgettable experience that wouldn’t have been possible without Airbnb. So what’s with all the hate for Airbnb?

Lik N2 Ice Cream Vancouver’s First Nitrogen Ice Cream Some things are tough to improve upon. Vancouver, for example, is an unbeatable place to live and visit. Perhaps one way to elevate a gorgeous world-class city like this one is with a whole new take on one of the world’s best indulgences: ice cream! Lik N2 Ice Cream is the first liquid nitrogen ice cream shop in Vancouver. Many reviews are in, and the general consensus is that this unique frozen dessert that comes with a syringe full of yummy deliciousness is truly a can’t-miss treat. Even with recent additions of other ice cream shops, Lik N2 Ice Cream is more than worthy of an abundant welcome. What is Liquid Nitrogen Ice Cream? Many people are probably compelled to ask, “What is liquid nitrogen ice cream?” It sounds more like a science project than a sweet treat. Actually, the fare at Lik N2 Ice Cream is indisputable evidence that the kitchen is a great place to apply scientific techniques. To answer the question, liquid nitrogen ice cream utilizes a super-cooling, rapid freeze reaction process. The result of using liquid nitrogen is that creamy ice cream is made in mere seconds.

Telus Garden Resales Explode, Emphasizing Issues with New Supply. The much anticipated Telus Garden building, located at 777 Richards Street has finally opened it’s doors. Buyers of the project have been given the green light to move in and as a result Telus Garden resales have soared. Since the residential condo building allowed it’s buyers to move in less than a month ago there have been a plethora of new listings up for sale. Adding to the large number already assigned for profits over the last few years. It raises the question, how many people who buy pre sale condos actually move into them upon completion? How many are buying them purely for speculative reasons? Personally I have no issue with people assigning contracts and flipping them for a profit. It is their investment they can do whatever they please. However, here’s the issue I do have. The provincial government continues to insist on creating more and more supply thinking it’s the solution to the housing crisis. It is not, let me explain. There are a total of 428 units in the Telus Garden building. Up to this point 68/428 have been either assigned, sold upon move in date, or

Are Prices Going Up or Down? Why I stopped Predicting Everyone loves predicting Vancouver real estate prices. It’s become a hot topic at any social gathering. I found myself predicting prices and market conditions it was like an emotional roller coaster. I soon realized that was a lose lose. Here’s the problem. Being a Vancouver Realtor I have clients and friends ask me almost every single day, ‘what do you think, are prices going to go up or down? Is now a good time to buy or should I wait?’ A year ago I would have offered you my opinion and that would have been to hold tight on buying unless you really needed to and had the means to do so. I remember I had a client wanting to buy a 2 bedroom condo in the West End. I told him he should consider waiting if he was in no rush. It was an investment after all. But he insisted to go through. This was in September, 2015. When multiple offers started to happen in the Vancouver condo market. I remember thinking man this is crazy, multiple offers on condos in Vancouver. Realtors used to joke how crazy the

Where’s the best brunch in Vancouver? Vancouver is more than a beautiful and long-established city. It’s also trendy. It has to be! Brunch is available at numerous locations, including Twisted Fork Bistro and Café Medina.  The best brunch in Vancouver is the truly decadent meal and often qualifies as one of pure indulgence, with no pesky stigma. All of the great qualities that are so loved about brunch fit right in with this cosmopolitan city. Five reasons brunch is a delightful meal There are many reasons to go searching for the best brunch in Vancouver, and the following are just a few: If you’re eating brunch, it’s likely the weekend. Monday through Friday is for those other meals. When you’re eating brunch in Vancouver, it means that the clock is not in charge. You’ve slept in. You’ve recharged, or maybe you caught up on lost pillow time. Every adult needs a brunch day every now and again. When you sit down for a full meal that lands squarely between breakfast time and lunchtime, it’s simply expected that you will eat more than the usual. It’s two meals in one, after all. It’s perfectly acceptable to pile your plate with an