Nikki Cvitanovic - Realtor Newsletter - January 2018 - Edition 17

Nikki Cvitanovic - RealtorĀ®

RE/MAX Select Realty

nikkic@remax.net
778 926 6464
http://nikkicvit.ca/

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Realtor by day, Crossfit Mom by night!

 

As a Realtor I have been blessed to be a part of a community of giving & helping others attain their goal of homeownership.  As a mom & wife I find my outlet in Crossfit. We are now a family of Crossfitters with my oldest just joining our gym this month.  This past year I have joined the Function Fitness League as an ambassador for our Richmond Crossfit community.  We are competing in quarterly matches against other Crossfit boxes & meeting new people. Always a fun time! 



Rate hike increases mortgage costs

 

On January 17, 2018, the Bank of Canada (BOC) raised its overnight interest rate 25 basis points to 1.25 per cent citing the growing economy and rising inflationary trends.

In anticipation of this increase, the six major banks raised their posted five-year, fixed-rate mortgage rates to 5.14 per cent from 4.99 per cent.

Click this article for more information on how this may affect you. 

Rate Hike Article



Empty Homes Tax declaration form due!

 

The City of Vancouver's empty home tax is due February 2, 2018. See below for more information on how to submit your declaration. 

City of Vancouver Link



Foreclosure Lists are Here!

 

Fraser Valley Detached
Burnaby - Attached
New West-Attached
Vancouver West- Attached
Port Moody-Attached
Coquitlam - Attached
Richmond - Attached
Surrey-Abbotsford Attached
Vancouver East-Attached
GVRD - Detached

Not a lot of foreclosure activity out there so I lumped some of them up into one. Please let the know if you have questions about the foreclosure process.



Bought a new couch and...

 

They made us pose with dogs for the discounted price.  Interesting marketing tactic but the couch is super comfy. I would recommend them for furniture in the future, just be prepared to take a picture with these cute, furry friends! 



Assessments are in! Greater Vancouver assessments trending upward

Below was published by the Real Estate Board of Greater Vancouver. This article will give you more information about assessments & how to decipher them this year. 

Property owners received their 2018 assessment notices in the first week of January.

In Metro Vancouver, changes ranged from 5% decreases to 15% increases for detached homes. Residential strata units increased from 5% to 35%. Commercial properties increased from 5% to 50%. Property owners with significant increases received a warning assessment in early December 2017.

The 2018 Assessment Notice is BC Assessment’s (BCA’s) estimate of a property’s value as of July 1, 2017. For new construction or substantially renovated homes, the estimate is based on the physical condition as of October 31, 2017.

Read the full article



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