The HST to be Scrapped April 01, 2013

Please be informed

The BC government announced a few hours ago that effective April 1, 2013, HST will be scrapped. THIS STILL MEANS PURCHASERS CAN PAY UP TO 12% TAX ON NEW HOMES! The government did NOT announce that new homebuyers will go back to paying only GST on new homes, but will now be paying both GST AND PST. The only change in the effective tax payable by new home buyers is that the threshold for the maximum PST rebate has increased from homes worth up to $525,000 (max. rebate $26,250) to homes worth up to $850,000 (max. rebate $42,500).
Grab a copy of the paper this weekend to read more on this story, or follow the link below for the CBC News webpage.

http://www.cbc.ca/news/canada/british-columbia/story/2012/02/17/bc-new-home-hst.html

B.C. to detail HST roll-back on new homes - British Columbia - CBC News

www.cbc.ca

B.C.'s new home builders, and thousands of anxious home buyers, should find out on Friday how and when the province intends to transition from the harmonized sales tax back to the provincial sales tax.

Current Market trends

The world of Real Estate is an everchanging fast paced industry and staying up to date with market trends is not only a good idea for Buyers and Sellers, but the responsibility of all Realtors® in the industry when it comes to properly servicing their clients needs..

Here are just a couple of links that I think will give you some good insite as to the value of properties and direction the market has taken to date.

http://www.youtube.com/watch?v=IFZQsaOOF1c&feature=youtu.be

http://www.rebgv.org/mls%C2%AE-home-price-index

here are the Coquitlam Statistics...

http://www.rebgv.org/home-price-index?region=Coquitlam&type=all&date=2012-01-01

Please feel free to contact me if you would like to know what the market is doing in your area!!!

Greg Stewart

TRG The Residential Group Realty

604.230.7389

gregstewart.trg@telus.net