Sue Kern, Mortgage Planning Specialist
101-3500 Uptown Boulevard V8Z 0B9 Victoria, BC, Canada

April Stats are in!! Looking back, we can now see that in mid-April we hit a low point in sales, with the number of homes sold at 25% of the volume compared to the last two years. The reduction in new listings nearly matched that figure, keeping inventory from growing. Since then, the volume of sales has been steadily growing as pent-up demand has moved both buyers and sellers back into the market. By month end, the pace of sales had grown to 59% of last year’s volume with new listings a little behind at 52%. Many believe that prices will fall. That is very possible, but it is not a forgone conclusion in our local market. If prices are to soften, it will likely be preceded by inventory growing at a faster pace than sales.

Repost: HERE IS YOUR WARNING: For everyone applying for the CERB. Please, know, It IS a TAXABLE income. Meaning you will be required to pay taxes on it. BUT - here’s the kicker - they WILL NOT be deducting the required taxes! So if you receive the full $8000 over the next 4 months, it is advisable that you put aside at least $2400, as you will need to pay this tax when submitting your returns in 2021 for your 2020 taxes. Depending on what you earn during the year will determi...ne the rate that this is taxes at. Money isn’t free! Be smart! Update: and be warned it looks like they are giving it to everyone who files immediately and then assessing your eligibility later!.. so be POSITIVE you qualify and need it otherwise you will just end up owing thousands The whole point is to prepare you, so you don't end up surprised with a big amount owing in taxes and all those deferred loans will be due as well, so think carefully before jumping in and deferring anything, when this all ends, you could be in for a huge shock, be safe my friends See more