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@newstracker Thousands Of Chicago Lots Are Available To Buy For $1 Each. the Large Lots Program—which lets homeowners purchase nearby city-owned abandoned lots for $1—is getting a huge expansion from the city. The program is broadening into 30-plus neighborhoods on the South and West Side, offering up some 4,000 (!) parcels for cheap purchase. http://chicagoist.com/2016/11/29/thousands_of_chciago_lots_are_avail.php #realestate
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@newstracker Foreign ownership of Canadian condos down from 2015: CMHC. Study comes amid concerns about foreign ownership pricing Canadians out of the market. http://www.cbc.ca/news/business/cmhc-foreign-ownership-report-1.3874515 #realestate
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@newstracker Manhattan Home With Indoor Swimming Pool Asks $36.8 Million. In New York’s Chelsea neighborhood, the extensively outfitted 17th Street townhouse was previously the studio of designer Karim Rashid. http://www.wsj.com/articles/manhattan-home-with-indoor-swimming-pool-asks-36-8-million-1480697147 #realestate
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@newstracker Listing prices for detached homes appear to be falling as Vancouver's real estate market faces what an expert calls "significant headwinds." http://bc.ctvnews.ca/prices-plunging-houses-selling-well-below-asking-some-under-1m-1.3190864 #realestate
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@newstracker Vancouver eyes property tax hike to fight overdose crisis. NPA councillor says the 0.5% tax is too much to ask of property owners. http://www.cbc.ca/news/canada/british-columbia/vancouver-overdose-tax-1.3885716 #taxes #realestate #Vancouver
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@newstracker Metro Vancouver smashes record for new housing starts, with more to come by year end: http://www.theprovince.com/business/real-estate/metro+vancouver+smashes+record+housing+starts+with+more/12499352/story.html #realestate
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@newstracker Nearly half of B.C.’s most expensive homes secretly owned, raising fears of money laundering. http://vancouversun.com/business/real-estate/hidden-ownership-of-homes-prevalent-in-b-c-report-says-raising-money-laundering-concerns? #realestate
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@newstracker Vancouver city council has voted in favour of an additional 0.5-per-cent property-tax increase to help fund its response to the overdose crisis. The additional tax would bring the total property-tax increase to 3.9 per cent. http://www.theglobeandmail.com/news/british-columbia/vancouver-approves-tax-to-help-first-responders-battling-opioid-crisis/article33314671/ #Vancouver #RealEstate #Taxes
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@newstracker TD raises key mortgage rate for third time in a month. TD raised the rate on its five-year fixed mortgages to 2.94 per cent, a jump of 10 basis points, or 0.1 per cent. http://www.theglobeandmail.com/report-on-business/td-raises-key-mortgage-rate/article33327638/ $TD #mortgages #realestate
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@mike B.C. offers new down-payment loans to first-time homebuyers SURREY, B.C. -- British Columbia's government wants to help first-time homebuyers get into the market by offering interest-free and payment-free loans for the first five years. Premier Christy Clark says the government will provide first-time homebuyers with a 25-year loan for a down payment on a home to a maximum of $37,500, as long as the funds have been matched by buyers. The program applies to homes with a maximum value of $750,000 and the interest-free portion of the loan will last for the first five years, with the repayment schedule at current interest rates over the remaining 20 years. Clark said most people can remember how difficult it was to put together the money for a down payment on their first home. "People need a partner in scraping together that first down payment," she said Thursday. #realestate
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@newstracker Bank of Canada warns about huge mortgages, growing housing debt. One of the key findings of a report by the Bank of Canada, is that nearly a third of Canadian home buyers with so called high ratio mortgages would not qualify for their loans under new mortgage rules outlined by the federal government. http://www.cbc.ca/news/business/bank-of-canada-financial-system-review-poloz-housing-1.3897875 #mortgages #realestate
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@newstracker Ivanka Trump Lists Park Avenue Condo for $4.1 Million. Future first daughter also owns a penthouse in the same building—that’s not for sale. http://www.mansionglobal.com/articles/48955-ivanka-trump-lists-park-avenue-condo-for-4-1-million? #realestate
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@newstracker BC Premier Christy Clark states that changes to the Medical Services Premium and provincial property tax will come in February. But Clark would not provide any specific details on how she plans to change the health tax, which brings in $2.4 billion to provincial coffers each year. Also, she said the government would like to reduce the number of home buyers who have to pay the property transfer tax. http://www.cbc.ca/news/canada/british-columbia/premier-christy-clark-mulls-major-tax-changes-in-2017-1.3902112 #BC #realestate #health
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@newstracker Canada Mortgage and Housing Corp. has effectively broken up a 30-year monopoly related to the custody of mortgage records. CST Trust Company said last week it had received certification to act as a third-party to store documents related to the mortgages of millions of Canadians. http://business.financialpost.com/personal-finance/mortgages-real-estate/cmhc-ends-30-year-monopoly-of-the-custody-of-mortgage-records-in-canada #mortgages #realestate
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@racker NoBroker raises $7M more to connect home owners with buyers and renters directly https://techcrunch.com/2016/12/18/nobroker-raises-7-million-more/ love the name! #realestate #fintech #india #brokers
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@newstracker John Sobrato, a local real-estate developer, has proposed using re-purposed shipping containers to “build 200 micro-apartments for homeless and low-income renters in Santa Clara.” The novel housing development would provide around-the-clock services on Sobrato’s dime, and it wouldn’t cost the city of Santa Clara anything. http://www.vanityfair.com/news/2016/12/california-billionaire-proposes-housing-the-homeless-in-shipping-containers? #realestate
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@newstracker Snapchat—newly renamed Snap—has slowly but steadily taken over Venice by renting tens of thousands of square feet of office space. The company is expected to go public in early 2017 with an IPO reportedly valued at $25 billion, and doing so could mean “dozens, if not hundreds, of newly created millionaires will be hitting the market,” says The Hollywood Reporter. http://la.curbed.com/2016/12/20/14031404/snapchat-venice-employees-ipo-homes-real-estate #realestate #tech #IPO
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@newstracker Chinese President Xi urges providing housing for all people. Xi said that China should form a housing mechanism that meet both purchase and rental purposes and meet housing demands of a new urban population, said Xi, who heads the central leading group. http://news.xinhuanet.com/english/2016-12/21/c_135923467.htm #realestate #urban #china
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@newstracker Vancouver’s long-awaited housing correction may be around the corner: prices are headed for a double-digit decline in 2017 as buyers drop out of the market, according to the head of hil Soper, chief executive officer of Royal LePage, a unit of Brookfield Real Estate Services Inc. https://www.bloomberg.com/news/articles/2016-12-21/vancouver-home-prices-face-double-digit-drop-in-2017-lepage #realestate #Vancouver
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@newstracker This House North of Toronto Had 800 Viewings and Sold for $1.1 Million, $400,000 Over Asking. http://notable.ca/this-house-north-of-toronto-had-800-viewings-and-sold-for-1-1-million-400000-over-asking/ #realestate
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@newstracker The latest report on housing trends and affordability from RBC Economics Research says owning a home in Canada is less affordable now than at any time in nearly eight years. http://m.waterloochronicle.ca/news-story/7034648-home-affordability-continues-to-slip-rbc-says #realestate
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@newstracker A Palm Springs home built for Walt Disney and his wife, Lillian, is up for sale at $899,000. http://www.latimes.com/business/realestate/hot-property/la-fi-hotprop-walt-disney-palm-springs-20161228-story.html #realestate
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@nlepan Chip Wilson's Point Grey mansion tops B.C. Assessment valuations at $75.8m. The second highest assessed home is at 4707 Belmont Ave., Vancouver: $69.2 million, up from $57 million. http://vancouversun.com/news/local-news/chip-wilsons-point-grey-mansion-tops-b-c-assessment-valuations-at-75-8-million #realestate #Vancouver
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@nlepan Hedge funds, large investment firms and private equity companies helped the U.S. housing market recover after the crash in 2008 by turning empty foreclosures into occupied rentals. Large-scale investors are shifting collections conversations from front stoops to call centers and courtrooms as they try to maximize profits.https://www.bloomberg.com/news/articles/2017-01-03/wall-street-america-s-new-landlord-kicks-tenants-to-the-curb? #realestate
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@nlepan Interprovincial migrants and international immigrants drive B.C. housing markets. Over a 12-month period ending on September 30, the provincial population rose by 59,584. Four out of five of those people were interprovincial migrants or immigrants, with the rest being the net increase of births over deaths within B.C. http://www.straight.com/news/849636/interprovincial-and-international-migrants-drive-bc-housing-markets #realestate
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@rjunior North Van condos a 292% return in 2016 & Surrey Whalley maybe next: https://ceo.ca/@rjunior/north-van-condos-a-292-return-in-2016-surrey-whalley #index #realestate
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@nlepan Last year, 91 per cent of all homes in British Columbia were covered by the homeowner grant program, which offers $570 to owners of properties with an assessed value of less than $1.2-million. But this year, only 83 per cent of B.C. homes in the province would be covered under the grant’s current format. http://www.theglobeandmail.com/news/british-columbia/spiking-home-prices-in-bc-bite-into-property-tax-relief/article33509335/ #realestate
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@nlepan German push for home ownership drives price bubble fears. Once a nation renowned for low levels of property ownership, Germany is turning to home ownership in response to plummeting interest rates and a still-humming economy, with unemployment at its lowest level since the country’s postwar reunification in 1990. https://www.ft.com/content/dc6ad2e4-c6ac-11e6-9043-7e34c07b46ef #Germany #realestate
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@nlepan The Toronto Real Estate Board says the GTA’s average home price soared to $730,472 last month, up 20 per cent from December 2015. There were 5,338 sales transactions for all types of residential property last month — including condo units and fully detached houses. That was up 8.6 per cent compared with December 2015 — despite a tight supply of properties for sale. http://business.financialpost.com/personal-finance/mortgages-real-estate/toronto-home-sales-climbed-to-record-high-in-2016-as-prices-soar-20 #realestate #Toronto
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@rjunior It's not a bad return @Newton! This is why I love #realestate. It's simpler - values grow where people go! To boot you get leverage and a good night sleep. And that is priceless!
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@nlepan The crushing Alberta recession has wiped out more than $4-billion in value of downtown Calgary office properties, city assessors warned Thursday, with some suburban office landlords and retailers expected to see higher tax bills as a result. http://www.theglobeandmail.com/real-estate/calgary-and-edmonton/oil-slump-hammers-calgarys-downtown-office-real-estate-market/article33520672/ #realestate
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@nlepan The price for all housing types sold in the GTA averaged a record $729,922 last year, up 17.3 per cent from 2015. It marks the 20th consecutive year that average house prices have gone up in Canada’s largest housing market. “The market conditions are tight enough that even if we saw a dip in sales in 2017 versus 2016, you’re still going to see extremely tight conditions,” http://www.theglobeandmail.com/real-estate/toronto/gta-real-estate-market-conditions-presage-further-rise-in-home-prices/article33520548/? #realestate
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@rjunior BC officially imposed a 15% “property transfer tax” on foreigners wishing to purchase property in BC.[1] Premier Christy Clark has stated that the new property transfer tax would limit demand, making housing more affordable in Metro Vancouver.[2] Which is, of course, utter poppycock. The tax will NOT work for three key reasons: 1) the tax is too easy to get around; 2) the vast majority of the non-resident investors buying up Vancouver real estate do not care about an extra 15% “property transfer tax” – they will see it as a cost of doing business; 3) the law is a violation of Canada’s investment protection treaties, including NAFTA http://www.dominiontaxlaw.com/bcs-15-property-transfer-tax-sales-non-residents-will-not-work/
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@nlepan Data collected from open sources at the City of Toronto, Landlord Watch and ACORN compiled a list of the worst apartment buildings and landlords in the City of Toronto: http://torontoguardian.com/2016/12/worst-landlords-worst-apartments/ #realestate #Toronto
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@nlepan The Victoria Real Estate Board says a repeat of last year’s record-smashing property sales that saw constant bidding wars on southern Vancouver Island is not in the forecast for 2017. But prices are expected to continue rising is a market of too few available homes. http://www.theglobeandmail.com/news/british-columbia/victoria-faces-property-shortages-as-newcomers-arrive-for-lifestyle-change/article33561009/? #realestate
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@nlepan Canada’s subprime mortgage providers are increasingly teaming up with unregulated rivals to sidestep rules designed to clamp down on risky lending. The practice has grown fast because it allows borrowers to make down payments of just 10 per cent, dodging federal rules that require either 20 or 35 per cent down on mortgages not backed by government insurance. Packaging two loans together allows the regulated lender to skirt those rules. Gosh, aren't people so innovative when money and regulation are in the way. http://business.financialpost.com/personal-finance/mortgages-real-estate/how-lenders-are-sidestepping-canadas-mortgage-rules-with-bundles-of-debt #mortgages #realestate
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@nlepan The BC provincial government is pitching in to pay the property taxes of million-dollar Vancouver homeowners and offering loans to first-time buyers for down payments. Too bad for renters, who are among the taxpayers footing a C$1.5 billion ($1.2 billion) bill at least in the next few years. https://www.bloomberg.com/news/articles/2017-01-11/vancouver-renters-aid-million-dollar-homeowners-with-their-taxes #riseofthepeasants #realestate
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@nlepan The Calgary Real Estate Board expects home prices to stabilize through 2017 as supply is expected to even out with demand. The agency says that sales in Calgary are forecasted to be 18,335 units, a three percent increase over 2016, but a drop in the long term forecast. http://calgary.ctvnews.ca/calgary-home-prices-expected-to-stabilize-in-2017-1.3236920 #housing #realestate
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@nlepan Cate Blanchett has found a buyer for her waterfront compound in Hunters Hill, Australia. The closing price was not disclosed but people say its was on the market for $20 million buckaroos. The house was originally bought for $10 million more than a decade ago. 50% return on investment not bad. http://www.mansionglobal.com/articles/51076-cate-blanchett-finds-new-buyer-for-australia-estate? #realestate
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@nicholaslepan Celine Dion cuts price of island estate with its own waterpark from $72 million to $38.5 million. http://www.wsj.com/articles/celine-dion-cuts-price-of-jupiter-island-estate-to-38-5-million-1484322455 #realestate
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@newswire The White House Worth Just Shy of $400 Million @newswire/the-white-house-worth-just-shy-of-400-million $ZG $Z The White House, valued at $397.9 million according to the Zillow® home valuation, has appreciated 15 percent since the Obamas moved in eight years ago. #realestate
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@nicholaslepan China’s housing boom ends as prices fall in top cities. House prices have fallen across most of China’s hottest property markets for the first time in almost two years, marking an end to the enormous growth that saw prices rise as much as 40 per cent last year. https://www.ft.com/content/0ae22064-dd5a-11e6-9d7c-be108f1c1dce #China #realestate #housing
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@nicholaslepan The U.S.' priciest house for sale is a Bel-Air mansion that includes 7 staffers and a helicopter. Price tag is 250-million. #realestate http://www.latimes.com/business/realestate/hot-property/la-fi-hp-250-million-house-20170118-story.html
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@nicholaslepan Flipping hell! New Zealand property frenzy as two houses sold five times in four day. Real estate watchdog to investigate the dealings as Auckland red-hot market continues to soar. #realestate https://www.theguardian.com/world/2017/jan/18/flipping-hell-new-zealand-property-frenzy-as-two-houses-sold-five-times-in-four-days?
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@nicholaslepan Soaring land values in Vancouver spark a ‘property tax revolt’. Vancouver assessments are based on the potential for development of the property, as opposed to actual use. Also, city policies are having an impact. In the West End, the city has rezoned for significantly more high-density residential, which has driven up prices. The change could signal a similar move in the east side of the city. This is creating hefty property tax bills. http://www.theglobeandmail.com/report-on-business/small-business/sb-growth/soaring-land-values-in-vancouver-spark-a-property-tax-revolt/article33672975/? #Vancouver #realestate
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@nicholaslepan Cadillac Fairview sells 50% of its Vancouver portfolio to Ontario Pension Board and the Workplace Safety and Insurance Board. http://www.theglobeandmail.com/real-estate/vancouver/cadillac-fairview-sells-50-of-its-vancouver-portfolio/article33682289/ #realestate
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