March 7, 2012
Grants & Rebates Not Enough
Sales down last
month but spring beings new hope
Released by CADREB
R with strong roots in Chilliwack will head up the Chilliwack and
District Real Estate Board (CADREB) for the coming year.
Newly installed President
Cynthia Admiraal is a long-time area resident and has been a member
of CADREB for 19 years, the last 15 of them at Homelife Glenayre
Realty Chilliwack Ltd. Real estate runs in the Admiraal family, with
REALTOR R son Richard working alongside Cynthia.
"This will enable me to
free up time for the demands of being president, as the local Board
is an active one in advocating for its members and residents," she
Ms. Admiraal looks ahead to her new challenge with enthusiasm, and
with the intention of continuing to move the Board in a
forward-thinking direction by getting more members involved with
various task force duties over the coming year.
"We have a wonderful group of members and an excellent Board of
Directors," she added. "I look forward to working with them".
President-Elect Jesse Hildebrandt and Vice-President Jake Siemens
will help lead Ms. Admiraal through the months ahead.
Home sales in Chilliwack and area were down from the previous year,
with 133 sales last month compared to 174 in February of 2011.
However, the Board is hopeful that the upcoming Spring market will
be an active one, as there is currently a wide variety of listings
available at competitive prices, and the recently announced Bonus
may mean more BC first-time home buyers coming to Chilliwack.
Finance Minister Kevin Falcon announced the BC First-Time New Home
Buyers' Bonus as part of Budget 2012. The bonus will be a temporary
one-time credit for first-time buyers who purchase a newly
constructed home, up to a maximum credit of $10,000.
The credit will be
available on purchases of newly constructed homes where both the HST
applies and where a written agreement of purchase and sale is
entered into after Feb. 21, 2012. Application forms will be
available later this year and will need to be completed and sent to
the BC Ministry of Finance for processing. The bonus will be issued
as a separate cheque from the Ministry of Finance.
He also announced the provincial government's intention to provide a
grant for buyers of newly-constructed secondary vacation or
recreational homes outside the Greater Vancouver and Capital
Regional Districts. Applying to properties priced up to $850,000,
the maximum grant available will be $42,500.
As well, Minister Falcon announced the provincial government's
intention to enhance the existing BC Harmonized Sales Tax (HST) New
Housing Rebate by increasing the threshold to $850,000 from
$535,000. The higher threshold will mean a higher maximum rebate of
$42,500, up from $26,250.
Pending approval by the BC legislature, these changes will be in
effect from April 1, 2012 to March 31, 2013.
Copyright (c) 2012 The Valley Voice