What the Foreign Buyers Tax Means for Whistler

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Earlier this month, the new Foreign Buyers Tax went into effect in the Metro Vancouver area. Most non-Canadians will now need to pay a 15% tax the purchase of real estate in Vancouver and its surrounding communities – but not in Whistler!

Read more What the Foreign Buyers Tax Means for Whistler

Brexit and the Whistler Real Estate Market

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brexit-whistler-real-estate

It came as a shock to many when on June 23, 2016 the United Kingdom voted to leave the European Union, 52% to 48%. The leave vote has resulted in financial turmoil in the United Kingdom, with ripple effects being felt through Europe, Asia Pacific and North America. The British Pound dropped to a 35-year low, the commercial property market in the UK began to crash and global businesses announced they would be moving their headquarters outside of the UK to other European cities. As the United Kingdom begins the lengthy process of removing itself from the EU, analysts are now considering what the impact of Brexit will be on the global economy. Here we look at the predictions for the Whistler Real Estate Market and the rest of BC.

Read more Brexit and the Whistler Real Estate Market

Proposed Changes to the Real Estate Industry in BC

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real-estate-industry-changes

A series of events and conditions over the last few years have sparked a review of the real estate industry in B.C. and its system of self regulation. With escalating property prices making headlines both locally and globally, allegations of questionable practices in the industry, and public scrutiny over the entire real estate industry in B.C., the Real Estate Council of British Columbia commissioned an independent review to examine the current state of the industry. The Special Advisory Group has come back to the Real Estate Council and B.C. Government with 28 recommendations to clean up the industry and protect public interest.

Read more Proposed Changes to the Real Estate Industry in BC

5 Tips to Selling Your Home in Summer- What You Need to Know

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whistler-summer-home

The temperature is heating up and the real estate market is showing no signs of cooling. When selling your home in summer there are additional things to consider in order to show your home in the best light possible to potential buyers. In Whistler, the real estate market continues at a steady pace during the summer months, and July and August are an excellent time to showcase your property to out-of-town buyers. Due to the unique aspects of the Whistler property market including a high percentage of out-of-town investors and recreational property owners, there are special considerations to keep in mind when listing your home in the summer.

Read more 5 Tips to Selling Your Home in Summer- What You Need to Know

Three Questions To Ask Before Listing Your Home For Sale

Whistler home sales

If you’re like many people in Whistler- the sight of FOR SALE signs popping up in each neighbourhood is certainly a temptation to sell your home too. With one of the strongest seller’s markets we have ever seen in Whistler it is truly a great time to put your home for sale. But just because the market is hot, doesn’t mean you are actually ready to put your home on the market. A good rule of thumb in real estate is, “when in doubt, stay out,” and although we don’t want to talk you out of selling your home (because there truly has been no better time to do so then now), we certainly want to make surselling-home-questionse you are making the right decision for yourself, your family and your current situation. Here are three questions to ask yourself to determine if you’re ready put your home for sale. Read more Three Questions To Ask Before Listing Your Home For Sale

Just How Crazy Is the Whistler Market?

It’s hard to talk about Whistler lately without someone mentioning how crazy it is.

Maybe it’s the weather – how crazy awesome this past winter was, and how crazily beautiful this spring has been.

Perhaps it’s Whistler Blackcomb’s performance – coming off a crazily busy, crazily successful season and gearing up for what is sure to be an equally successful summer.

More likely than not, it is the Whistler real estate market they are talking about. It’s almost impossible not to use the word “crazy” when describing the insatiable demand, rising prices, and record-breaking low inventory levels the market is currently experiencing. Here are some stats that paint the picture of just how, well, crazy the market has really been.

Read more Just How Crazy Is the Whistler Market?

Who to Call When You’re Selling

Call Selling

In today’s fast paced Whistler real estate market, it pays to be organized.

Sales are happening at breakneck speeds, and you may be surprised at how quickly your property moves once you decide to list it for sale.

One of the best ways to stay on top of the sales process is to assemble a team of service providers who will help you through the various stages of the transaction. Having the right people by your side will help you save both time and money, eliminating unpleasant surprises and helping diminish the stress that can accompany a property sale.

DB-Call-Selling Read more Who to Call When You’re Selling

Top Mistakes People Make Selling Their Home… and How to Avoid Them

Real Estate Pricing in Whistler

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As a property seller, you’ve got a lot on your plate. Dealing with paperwork, switching over services and utilities, and juggling with your regular day-to-day commitments can be tricky, to say the least.

You’ve got a lot going on, and that’s understandable – but you need to stay on top of your game, or else you risk making the following mistakes. Read more Top Mistakes People Make Selling Their Home… and How to Avoid Them

Whistler is also for the Savvy Investor

Whistler Real Estate Investment

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To winter sports enthusiasts, Whistler needs no introduction. But the mountain region is more than just home to some of the finest powder in the world. It is also home to a bustling year-round tourism industry that draws around 2.5 million visitors a year.

As a year-round, 365 days a year, full-service tourist resort, Whistler relies on a base of about 10,000 permanent residents and 2,200 seasonal workers to keep it running and maintain its reputation for hospitality. As the resort has grown, so to has the labour force and their need for long-term housing.

In a market where there is no shortage of demand for housing, investors can often find great opportunities for a long-term, cash-flowing investments. These investments can come in the form of nightly-rental condo hotels with restricted usage (Phase II), condos and townhomes that allow for unlimited owner use and rental options (Phase I), and finally residential properties that can be rented long-term.

If you have been looking for an investment opportunity in Whistler, contact me today to discuss what options and properties would best fit your goals.

Whistler – Strongest Real Estate Market in a Decade

Whistler Real Estate

The Whistler Real Estate Market surges in strong leading into a stellar Whistler ski season

2015 will be reported as one of the strongest years in the last decade. The Whistler Real Estate Company is forecasting the total value of sales activity to exceed 675 million dollars – an increase of approximately 6% over the year before and the highest value since 2007.

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How the numbers are changing numbers in 2015:

– number of sales year to date is the highest since 2008

– overall number of firm transactions is up 7.1%

– prices are up – pace of growth up 3.65%

– average transaction value is 11.3% over the same time last year

– listing inventory remains at 2008 levels

– sales are happening in less than 90 days

Read more Whistler – Strongest Real Estate Market in a Decade

Whistler Real Estate Market – 2015 Year to Date Stats

Whistler Real Estate stats

People like stats. So do I! But your best way to interpret the following graphs is to speak to an active, experienced Whistler real estate agent, who is engaged on a daily basis with both buyers and sellers in this unique market place. Give Dave a call today at 604-935-7913  to get his take on what this all means for YOU and your Whistler real estate plans.

Read more Whistler Real Estate Market – 2015 Year to Date Stats

US Residents Buying in Whistler – Notes on Financing

Exchange rate

Buying in Whistler right now is a pretty attractive investment! Especially for US residents, where they are automatically getting a 20+% discount, thanks to the weak Canadian Dollar.

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If you are an American considering purchasing a property in Whistler, here are some important notes on the financing and the steps required to make the process as smooth as possible:

– Anyone who files taxes in the US is considered a US resident for mortgage financing purposes.

– US residents can get up to 80% financing for properties just under $1,000,000. For properties over $1,000,000 the percentage financing available will decrease as is common with most higher priced purchases.

Read more US Residents Buying in Whistler – Notes on Financing

How will the falling Canadian Dollar affect Whistler Real Estate Values?

Whistler Real Estate

Today’s leading business news on the CBC website reports the Canadian dollar hitting an all new low of under $0.79 to the US dollar. This is the lowest level in 6-years, when in mid-March 2009, the dollar dipped below 78 cents. Click here to read the CBC article.

This size of a foreign exchange gap equals an approximate 20% discount* on Whistler real estate for Americans. Purchasers with US dollar buying power can now purchase a Whistler home listed at $1.2M Cdn for $1M US*.

dollar-realestate

We will see an increase in the US purchaser – a factor that has had a strong effect on real estate market values in Whistler in the past. We are a world-class resort offering an unbelievable amount of winter, summer, spring and fall recreational options AND we are a short 2.5 hour drive from the US/Canada border. With real estate now being presented with a 20% discount for our American neighbours, how can this NOT have an effect on our market?? 

I will be watching this closely in the coming months. I am excited to watch the return of our American investors.

If you are curious about if/how this low Canadian dollar may affect the Whistler real estate market, call me today at 604-935-7913 and we can discuss! I would love to hear your opinion.

*depending on the exchange rate your bank gives you.

Peak Performers at The Whistler Real Estate Co.

whistler real estate award

For the third year in a row, I have reach the Platinum level, the top of the podium, for 2014 volume of sales with the Whistler Real Estate Co. I am in pretty good company in this crowd! I appreciate The Whistler Real Estate Co’s recognition of the effort and commitment required to maintain this level of sales. Thank you to all my colleagues and clients who make my job rewarding – and help me maintain my enthusiasm year after year!

Read more Peak Performers at The Whistler Real Estate Co.

2014: Strong Recovery of the Whistler Real Estate Market

Real Estate Market

In 2014, in the Whistler real estate market:
– The total number of sales increased by 15%
– The total value of real estate sold was over 535 million dollars
– Reached the highest level of sales since 2007 (which was reported at over 705 million dollars in sales)
– Dollar sales volume was up significantly over the low of under 310 million in 2009.

All of these statistics mark a strong recovery year for the Whistler real estate market.

Read more 2014: Strong Recovery of the Whistler Real Estate Market

Top Whistler Real Estate Agent – Dave Burch: A Medallion Club Member 2014

medallion club

Each year, the Greater Vancouver Real Estate Board highlights the achievement of its top 10% performers by recognizing them as a part of the MLS Medallion Club. For the 3rd year running, I have been a part of this distinguished group – which includes several of Whistler’s top real estate agents. Thanks Whistler Real Estate Co. for appreciating the commitment that this level of achievement requires – in the Pique Newsmagazine.

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