Fara Ghafari, 88 West Realty
Fara Ghafari is a licensed real estate agent as well as a REALTOR® in CREA and an expert in rental and for-sale properties at 88 West Realty.
Fara Ghafari is a licensed real estate agent as well as a REALTOR® in CREA and an expert in rental and for-sale properties at 88 West Realty.
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Happy Victoria Day
The holiday has been observed since 1845, as a celebration to honour Queen Victoria. The day unofficially signals the start of summer for many Canadians. It is celebrated with parades and fireworks in some cities. Sending our warmest wishes to everyone for a happy and peaceful long weekend.
BC Home Flipping Tax Encourages Long-Term Ownership
The BC home flipping tax applies to profits from selling residential properties owned for less than 730 days, effective January 1, 2025. It targets short-term property holding and is separate from federal tax rules. The tax rate is 20% for sales within 365 days, decreasing until 730 days when it no longer applies. Exemptions include […]
BC home sales to decline in 2026, rebound next year: BCREA
British Columbia's housing market is expected to see a 2.1% decline in residential sales in 2026 to 68,700 units, with a 7.7% rebound projected in 2027. Sales are forecasted to dip across all regions, especially in pricier areas, leading to a 1.4% drop in average home price to $939,800. High listings and new-home inventory pressure […]
B.C. Home Sales Remain Resilient Amid Economic Challenges
Home sales in British Columbia are forecast to decline 2.1% to about 69,000 units this year, with prices expected to drop 1.4% to an average of $939,800. Increased new-home inventory and high active listings contribute to the price decline, especially in expensive Lower Mainland markets. A 7.7% sales rise is predicted next year, but market […]