Winter came back!!

As the snow is falling on the mountains and temperatures are dropping we are thankful for another winter blast. Looks like snow for the week and sunshine on the weekend!

There are a couple big changes coming to the real estate market including the BC Home Flipping Tax and various property transfer tax exemptions. The BC home flipping tax will apply to income from B.C. properties sold on or after January 1, 2025. Income from property purchased before the tax’s effective date may be subject to the new tax if sold on or after January 1, 2025 if the property is sold within 2 years, unless an exemption applies. Full details here.

The other big announcement was for Property Transfer Tax exemption. As of April 1st, 2024, the First Time Home Buyer exemption will apply to properties in a different way. For properties with a Fair Market Value of less than $835,000, PTT is not payable on the first $500,000, but payable on the difference between the Fair Market Value and $500,000. For example, if the FMV of the property is $700,000, PTT paid would be 2% of $200,000 ($700,000 less $500,000). Not paying PTT on the first $500,000 saves the purchaser a total of $8,000. If the property has a FMV between $835,000 and $860,000, then a partial exemption applies, the details of which are not yet confirmed by the BC government. If the FMV of the property is over $860,000, then there is no FTHB PTT exemption.

There are also some changes increasing the Fair Market Value Threshold for the Newly Built Home Exemption and a Purpose-Built Rental Exemption. Information provided by Tony Spagnuolo @ Spagnuolo and Company.

If you have any questions about our properties or are considering selling, feel free to ask. We are here to help!

Here are the past 7 days numbers for you.

Whistler
21 New Whistler Listings (2 timeshares)
13 Sales in Whistler
4 price Adjustments

Pemberton
7 New Pemberton Listings
2 Sales in Pemberton
0 Price AdjustmentsWishing you all a fabulous week!

Lynne Venner & Tracey Cruz

Your Mother/Daughter Team

*Note All statistical information provided from sources deemed to be reliable. The information provided is based on data collected from Whistler Listing Service WLS and MLS.

💫NEW LISTING💫

#301G1 HORSTMAN HOUSE

Horstman House grants you the luxury of direct ski-in access. This 3 bedroom, 3 bathroom quartershare comes complete with the rare bonus of a 2-week block over the festive season of Christmas and New Year’s 2024! Beyond the slopes, you and your family can revel in the array of on-site amenities. Dive into the refreshing pool, unwind in the hot tub, stay active in the gym, enjoy outdoor BBQs, engage in games, or relax in the communal lounge. Spanning two levels, the upper floor captivates with high ceilings and oversized windows that invite an abundance of natural light. Designed to comfortably accommodate up to 8 guests, featuring a full-sized kitchen and two sunny decks. This Quartershare Ownership comes with two parking spots. View the virtual tour here. 
$520,000 |  3 Bedrooms  3 Bathroom   |    1312 sq. ft. 

Telus Winter Classic

Whistler’s legendary fundraising event and celebrate 31 years of making a difference in our communities! This action-packed weekend will be one to remember…and you don’t want to miss it. Featuring fun-filled ski events, wine, beer and food galore, our famous silent and live auctions and fabulous live entertainment. All proceeds from the event go to support non-profit charities. Register a team of 4 which includes the full package of events, or if you aren’t up for skiing, we invite you to join us at one of our legendary evening events! Get your tickets here.
📸 WB Events

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