Ozzie Jurock's Profile
Guru
1296
Points

Questions
1

Answers
165

  • Guru Asked on July 27, 2021 in Real Estate.

    Last year BC introduced a new statute. This statute requires mandatory disclosure regarding beneficial ownership of land in British Columbia. LOTA will require reporting bodies that are registered owners of land in British Columbia as of November 30, 2020, to file a transparency report to disclose beneficial ownership by no later than November 30, 2021. This is aimed at finding out who owns what in a trust or other entity. NOTE…you MUST disclose all you own by the above date.

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  • Guru Asked on July 27, 2021 in Real Estate.

    New listings are only those listings that were taken throughout the current month. Active listings or inventory are all listings that are left for sale at the end of a month (can be both new and previous months listings). Both are good indicators of possible market direction.

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  • Guru Asked on July 27, 2021 in Real Estate.

    Comparing month over month makes all the headlines: ‘June sales are lower than May sales’ ‘April is higher than March’. Normal is when sales rise from February into May/June, flatten in the summer, rise into September, October and then fall sharply into January. Every year. We use the same month because it is more relevant to compare our current status to previous years rather then only a current month to month snapshot. Study the numbers there are eye openers here. http://ozbuzz.ca

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  • Guru Asked on July 27, 2021 in Real Estate.

    No, according to Knight Frank Research transactions in the UK this June were 24% higher making it the highest on record. Records in prime central London, the London suburbs, and the rest of the UK, including the country house market. The number of Knight Frank reported transactions in the UK in June was 26% higher than in March 2021. Actually, around the world, major cities, seeing price increases and sales gains. Inflation is now (still unreported) a worldwide phenomenon. I mean it will stay!

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  • Guru Asked on July 27, 2021 in Real Estate.

    Get insurance for your condo separately. Get a tenant package and one for you. Make sure to read your policy. What validates it and what  does not? I.e., if you leave a property vacant for 5 days and it burns, are you still insured? What is your duty?
    Speaking of someone who has gone thru a fire…1. Get a great local agent…2. Get a great local agent. 3…you get the idea…then 4. Listen to him.

    • 62 views
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  • Guru Asked on July 27, 2021 in Real Estate.

    Those days are over for now. Multiple offers are now only those that are staged (listed well below market value) by realtors. Rest of markets more normal. Buyers smell a slowdown, (smart) vendors do not play games and get it while they can.

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  • Guru Asked on July 27, 2021 in Real Estate.

    Too general a question (asked often.) Which markets?

    1. Not in the numbers yet. But then numbers may have been mostly of early June.
    2. Anecdotally yes. Realtors talk about a market that is tired. Buyer fatigue.
    3. CMHC relaxed lending guidelinesWhy? Market (and their Share of it) is slowing fast!
    4. Markets in SF slowing. Shift into condos (look at numbers on ozbuzz.ca).
    • 49 views
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  • Guru Asked on July 27, 2021 in Real Estate.

    Do not guess, read the bill! Legislation is pushed thru with Liberals, NDP and Quebec support. Again: Why? No other country is doing it. This is about curtailing free speech. Censorship is the real aim. Bureaucrats banning speeches and now even writing? Luckily, the bill is stuck in the Senate. And the senate went away for the summer. Good. Still hope. If Trudeau does not get in…the bill is dead. If he does, prepare to have to defend every word you say and – according to Trudeau – every ‘appropriate word’ you do not say.

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  • Guru Asked on July 27, 2021 in Real Estate.

    Tongue in cheek? Cabin one referred to living life large. If you mean an actual cruise, likely Greece from Venice August 22, or September.

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  • Guru Asked on July 27, 2021 in Real Estate.

    Starting January 1, 2022, a new tax will affect high-end products including automobiles, pleasure boats and private aircraft. The government said the tax will be a 10-percent fee on the total cost of the vehicle or a 20-percent fee on the amount exceeding $100,000, whichever amount is smaller. To me that is just the beginning. Actually, luxury taxes backfire, since people that can afford luxuries postpone purchases, people that work in the luxury sector get laid off and manufacturers sell fewer things.

    • 172 views
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