Heat Waves and Brain Waves

We bet the sales of fans & air conditioners have risen sharply over the past week – wouldn’t be surprised to find stores sold out! So…why don’t our towers with fabulous west facing views have built in air conditioning? Somewhere we have to get it across to developers that our climate truly has changed and air should be an automatic inclusion in strata buildings, as it is in other Canadian provinces. Talk to our City councillors – they are giving out the permits.

Just to put our mortgage payments in perspective: British Columbians pay more in total taxes than they do on food and housing combined! Time to make our mortgage payments tax deductible?

And….the definitive study is out! Focused monotasking is more productive – multitasking has its moments, but as a permanent state of working, distracts, then starting and stopping tasks requires the brain to refocus and the person to reread in order to carry on. Not to mention the anxious state of mind of the ultimate multitaskers. Staying on task til complete is not only more productive but easier on the psyche!

But is it productive? “Sandra Bond Chapman, founder and chief director of the Center for Brain Health at The University of Texas at Dallas, isn’t convinced. She says multitasking is detrimental when you’re trying to do two cognitively demanding tasks at the same time. [The media multitasking study] shows that certain senses may be heightened as a result of multitasking. However, I would caution that though visual scanning responses may be heightened, it may come at a cost of deeper-level thinking and the effects will not be lasting,” she says. [via Fast Company]

As our real estate market moves toward the unknown nature of Fall, remember that we have you covered no matter what Autumn brings. Call us with your questions and concerns at 604-936-7653 or email us.

This Week in BC Real Estate – We’ve Got You Covered!

Fallout from the Provincial decision to make the 15% additional foreign buyer tax retroactive to include all the sales already contracted before August 2nd continues. And…will continue as local Lower Mainland sellers struggle through the legal mess they are in through no fault of their own. As Vancouver real estate lawyer, Richard Bell (Bell Alliance) said during a CBC interview, it is “shocking” that the Government did not grandfather these sales. We think it is even more shocking that there has been not a word from the Province since, with regard to rectifying this situation for ordinary Canadians caught in the middle. The one thing we did hear was that on a recent visit to China, provincial ministers did not mention the tax! Like all real estate storms, this too will blow over, but will take longer because of the legal impact on so many people.
Our economy is driven by real estate as Alberta’s is by oil, so the provincial government must watch the economic results carefully moving forward.
Right now is a great market for buyers who have been frustrated with low inventory, little choice and competing in multiple offer situations. We are seeing sellers agreeing to contracts with subjects, not relying on multiple offers to sell their home over list price AND interest rates are still at an all time low. Balance is always good in the real estate market – the frenetic pace is over for now – choose a home because you love it not just because it’s available.
Enjoy the heatwave – no need to go to Hawaii or Mexico – just step outside! And, remember, whatever the temperature, we have you covered. Have a wonderful weekend.
Sheila & Michelle

Miracle Treat Day! Sweet treats in support of the Children’s Miracle Network Hospitals

We hope there were record sales for ‘Blizzards’ at all the Dairy Queens yesterday! The proceeds from these treats went to Children’s Miracle Network, which in turn goes directly to our Vancouver Children’s Hospital. Our team enjoyed our Blizzards (melting fast!) in the new Lions Park in Port Coquitlam – a quickly discovered spot being enjoyed by many local families.

CMN is a cause very close to our heart and a donation goes there from every home Francis & Hawthorne Team sells. We are proud of being able to contribute in a small way to the amazing work being accomplished at the hospital by their wonderful, dedicated staff. For many years, Re/max as an organization, has been & remains a major donor to CMN across the country.

Have a fabulous weekend in the sunshine. We shan’t need our umbrellas – but, as always, we have you covered for all things real estate.

This Week’s News on the 15% Property Transfer Tax for Foreign Buyers – We’ve Got You Covered

What a blessing to live in a safe country! Vancouver’s tourism is up substantially this year contributing an estimated $1billion + to our local economy. Aside from our low dollar, safety is part of the 2016 tourist decision – with justification. As if the devastating results of mass refugee migration, terrorist attacks and the Brexit vote were not enough, Europe will now have to contend with much lower tourism income. Staying safe has to be a prime objective at every level.

There has been lots of talk this week about the provincial government’s additional 15% property transfer tax for foreign property buyers. The aspect given the least media attention & no government attention is what happens to the innocent local sellers who have a binding sale contract with an offshore buyer who refuses to pay the additional tax and causes the sellers to be unable to complete a purchase they have made in good faith. This hurts the very people this government has pledged to support – the little person & the working middle class. Please take time to write to your MLA and let her / him know that there will be hundreds of local people who will suffer both financially & emotionally as a result of this legislation not grandfathering existing contracts. The government managed to look after the big guys – the developers! Most of us support taxing those buyers simply “parking” their money – the devil lies in the details.

We are watching the market carefully as this unfolds in order to ensure that we always have you covered.

Have a great weekend – Sheila & Michelle