Financial Crisis – now with 50% less fat

I’ve been spending a bit of time online these days sifting through articles about mortgages and have found some real jems.  With all of the doom and gloom that we are being bombarded with these days, it’s encouraging to read articles like this, especially if you are a first time home buyer and don’t know where to begin.

Good news for home owners and home buyers

$40 Billion dollars. It’s almost as much as you’d make if you took Tom Vu’s real estate seminar back in the 80’s. Check the videos at the bottom of the page. But I digress.

As part of Canada’s new budget, there have been a couple of measures to help both current home owners and perspective first time buyers. Owners can now claim up to a 15% renovation tax credit (to a max. of $1,350.00). This is supposed to have the secondary effect of stimulating the struggling construction industry. Sounds like a good move to me. If you are going to start knocking down walls, though, be sure to read the fine print.

First time buyers wishing to access their RRSP savings without paying a hefty tax penalty are now able to borrow $25,000.00 rather than $20,000.00. Again, contact a financial planner or accountant before doing so because there are certain payback requirements. Hopefully Canada Revenue Agency will update their site soon.

Stop spending. Start saving. Buy a home!

new post

hello people. This is my first post of many. As a broker here in Vancouver, I decided to start a blog to share my knowledge with would-be-buyers and colleagues alike. I came into the industry in September of 2008 – I know, perfect timing! Getting to know an industry during an economic downturn is a good thing, because anything that happens these days is generally an improvement. I used to work in the online gambling industry, another field that is used to its ups and downs. That went south G-Dubya decided to pass a bill into law that prevented US citizens from using their credit cards and bank accounts to gamble on the internet. In hindsight, maybe that was a good move, albeit way too late.