Keeping it Real

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In this episode of the Keeping it Real podcast, Jacquie McCarnan explores the concept of strata windups, where owners opt to sell their units, often to developers, due to rising maintenance costs and special levies. With a focus on providing clarity amidst the complexities, Jacquie breaks down the process, from the reasons behind windups to the considerations for both owners and developers. 

Through a hypothetical scenario, Jacquie illustrates the financial and regulatory factors at play, offering insights into how decisions are made. She also highlights the impact of new provincial legislation on developers' strategies and shares recommendations for navigating the winding road of real estate in an ever-evolving landscape. 

Tune in now!

More information on Strata Wind up: https://www2.gov.bc.ca/gov/content/housing-tenancy/strata-housing/termination#choose

Local business shout-out: Courtney Campbell Golf Pro: https://birdiesgolf.ca/

Recommendation: Stanley Park by Timothy Taylor. https://www.penguinrandomhouse.ca/books/177041/stanley-park-by-timothy-taylor/9780676973099

What was covered:

(01:43) Explanation of strata windups and reasons behind them

03:24) Changes in voting requirements for strata windups 

(04:19) The hypothetical scenario involving a condominium complex

06:17) Discussion on escalating maintenance costs and special levies 

(07:12) Considerations for strata windup feasibility 

(08:05) Importance of consulting professionals and specialized realtors 

(09:05) Assessment of developer interest and feasibility 

(14:14) Impact of provincial legislation on developers 

(17:34) Promotion of local businesses and golf pro Courtney Campbell 

(18:08) Recommendation of the novel "Stanley Park" by Timothy Taylor

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In this episode of the Keeping it Real podcast, Jacquie McCarnan explores the essential questions buyers often have when entering the real estate arena. From understanding the buying process to deciphering property taxes and down payments, Jackie shares valuable insights gained from years of experience as a North Vancouver-based realtor and philanthropist.

Jacquie also shares insight on some of the quirkiest questions she's encountered in her career, from concerns about haunted properties to the historical context of home locations. With her signature blend of expertise and humour, Jackie equips individuals with the knowledge that is needed to make informed decisions in the bustling Vancouver market.

Tune in now!

BLVD Bistro - https://www.blvdbistro.ca/ 

What was covered:

(00:46) The importance of speaking to a mortgage broker before starting the home-buying process.

(02:18) Answering common questions about the real estate buying process, average home prices, property taxes, minimum down payment, and necessity of home inspections.

(05:43) Explanation of property transfer tax, additional taxes in specific municipalities, exemptions for first-time homebuyers, and the importance of consulting with a mortgage broker.

(13:53) Anecdotes about unusual buyer questions, recommendation of a local eatery, and mention of a podcast recommendation.

(15:26) Recommendation of Boulevard Bistro and Switch Cafe for food enthusiasts.

(16:14) Recommendation of the podcast "Lady Killers with Lucy Worsley" for murder mystery enthusiasts.

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In this episode of the Keeping it Real podcast, Jacquie McCarnan delves into the intricacies of selling a home in the vibrant Vancouver real estate market. With a focus on addressing the top "ten" questions commonly asked by sellers, Jacquie provides expert advice and candid insights to guide you through the selling process.

From prepping your home for sale to understanding the nuances of home inspections, pricing strategies, and the disparities between assessed and market values, Jacquie provides expert advice and practical insights honed from years of experience in the industry. With a blend of wit and wisdom, each question is dissected to offer individuals a comprehensive understanding of the selling process.

Whether you're a seasoned seller or embarking on your first home sale journey, this episode offers valuable knowledge and practical advice to help you gain a deeper understanding of the Vancouver real estate landscape. Tune in now!

Link to the questions: https://www.rentspree.com/blog/real-estate-questions

Link to Nominou Designs: https://nomidesigns.ca/about-us/

“Every collection I create embodies a love of life, learning and growing through kindness and awareness. All nourishing to our minds, bodies and souls, while keeping us grounded in the importance of living life with purpose and grace. That is the spirit of NoMiNoU.”

– Jullianna Charlton, Founder and CEO, NoMiNoU

What was covered:

(01:24) Introduction to the top “ten:” questions that realtors get asked by sellers.

(02:30) First question: How should I prepare my house before selling it?

(04:50) Second question: Should I order a home inspection?

(07:08) Third question: How long will it take to sell my home?

(08:49) Fourth question: What is the selling price of my home?

(09:35) Fifth question: Is there a reason my home's assessed value differs compared to the market value?

(11:02) Sixth question: What is an agent's commission fee?

(14:19) Seventh question: Are real estate prices negotiable?

(15:53) Eighth question: Should I sell my current property before buying a new one?

(17:50) Mention of a sponsor: Know Me, Know You Designs, and recommendation of the business.

(19:29) Recommendation of the TV show "Ted Lasso" and discussing its themes.

(21:14) Conclusion and invitation for feedback and questions.

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In this episode of the Keeping it Real podcast, Jacquie McCarnan delves into the intricacies of real estate dynamics, particularly the impacts of fluctuating interest rates on the Vancouver housing market. With a blend of personal experience and extensive research, she shares valuable insights on how buyers and sellers can strategize effectively in response to changing interest rates.

Gain a comprehensive understanding of the relationship between interest rates and market activity, learning how lower rates can lead to increased buyer demand and seller advantages. Jacquie emphasizes the importance of staying informed and proactive, especially in anticipation of potential rate drops.

Moreover, practical strategies for both buyers and sellers are explored, including the significance of early mortgage consultations, leveraging automated search systems, and conducting pre-inspections to minimize surprises during the selling process.

Throughout the episode, the host maintains a conversational tone, making complex concepts accessible to all listeners. As the episode draws to a close, listeners are encouraged to engage further with the podcast by subscribing, leaving comments, and accessing additional resources available at northvanhomesales.com/podcast.

Don’t miss this insightful episode of Keeping it Real to gain valuable knowledge and stay ahead in the ever-evolving real estate landscape. Tune in now!

What was covered:

(01:53) Impact of falling interest rates on the real estate market

(05:00) Advising buyers to consider purchasing before anticipated rate drops to avoid competition

(10:50) Example of strategy planning for sellers in anticipation of market changes

(13:09 ) Discussion on various strategies for buyers and sellers based on risk tolerance and market predictions

(15:00) Importance of pre-inspections for sellers to avoid surprises during the selling process

(17:14) Recommendation of a local business (North Shore Black Bear Society) and book suggestion ("Who Not How" by Dr. Benjamin Hardy)

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NB: THE OPENING TO THIS EPISODE IS THE WRONG ONE. WE HAD A TECH ISSUE. THE REPLACEMENT EPISODE WILL BE AVAILABLE SOON BUT THE MAIN INFORMATION IS CORRECT]


In this episode of the Keeping it Real podcast, Jacquie McCarnan delves into the intricacies of real estate dynamics, particularly the impacts of fluctuating interest rates on the Vancouver housing market. With a blend of personal experience and extensive research, she shares valuable insights on how buyers and sellers can strategize effectively in response to changing interest rates.

Gain a comprehensive understanding of the relationship between interest rates and market activity, learning how lower rates can lead to increased buyer demand and seller advantages. Jacquie emphasizes the importance of staying informed and proactive, especially in anticipation of potential rate drops.

Moreover, practical strategies for both buyers and sellers are explored, including the significance of early mortgage consultations, leveraging automated search systems, and conducting pre-inspections to minimize surprises during the selling process.

Throughout the episode, the host maintains a conversational tone, making complex concepts accessible to all listeners. As the episode draws to a close, listeners are encouraged to engage further with the podcast by subscribing, leaving comments, and accessing additional resources available at northvanhomesales.com/podcast.

Don’t miss this insightful episode of Keeping it Real to gain valuable knowledge and stay ahead in the ever-evolving real estate landscape. Tune in now!

What was covered:

(01:53) Impact of falling interest rates on the real estate market

(05:00) Advising buyers to consider purchasing before anticipated rate drops to avoid competition

(10:50) Example of strategy planning for sellers in anticipation of market changes

(13:09 ) Discussion on various strategies for buyers and sellers based on risk tolerance and market predictions

(15:00) Importance of pre-inspections for sellers to avoid surprises during the selling process

(17:14) Recommendation of a local business (North Shore Black Bear Society) and book suggestion ("Who Not How" by Dr. Benjamin Hardy)

Like the show? Send me a text (if you don't like it, shhh ;)

In this episode of the 'Keeping it Real' podcast, Jacquie McCarnan delves into the impactful new British Columbia Housing Supply Act set to eliminate all single-family zoning in the province. Scheduled to take effect on June 30, 2023, this groundbreaking legislation opens the door for property owners in municipalities with over 5,000 residents to build up to six units on their single-family lots.

Jacquie breaks down the significant changes, including the shift of zoning authority from municipalities to the province, the removal of public input on density applications, and the potential for developers to swiftly build without municipal approval. She discusses the challenges this poses for communities like North and West Vancouver, emphasizing the need for infrastructure and the potential consequences on hospitals, police, and other essential services.

In addition, Jacquie touches on the requirement for municipalities to produce 20-year housing needs reports, the relaxed restrictions on building heights near transit exchanges, and the shift in responsibility for infrastructure funding from developers to the public.

Tune in now!

Act link: https://www.bclaws.gov.bc.ca/civix/document/id/bills/billsprevious/3rd42nd:gov43-1

Plunge Wellness: https://plungewellness.ca/

Malcolm Gladwell books: https://www.gladwellbooks.com/

What was covered:

(01:27) Changes in the zoning process, the elimination of public input, and the implications for developers.

(03:49) Transfer of zoning authority, impact on municipalities, approval process changes, and the shift in responsibility for infrastructure and amenities.

(08:29) Challenges and concerns about the affordability of purpose-based rental housing.

(10:34) The consequences, including the need for expanded hospital facilities and a larger policing presence due to population growth.

(14:19) Speculation on the provincial government's approach to infrastructure and challenges in accommodating the increasing immigrant population.

(15:27) Listener feedback on the new policy's impact, promotion of a local business (Plunge Wellness), and a recommendation for Malcolm Gladwell's books.

(15:27) Listener feedback on the new policy's impact, promotion of a local business (Plunge Wellness), and a recommendation for Malcolm Gladwell's books.

Like the show? Send me a text (if you don't like it, shhh ;)

In this episode of the 'Keeping it Real' podcast, Jacquie McCarnan is joined by Marcy Deane, a North Vancouver-based mortgage broker. Together, they delve into the intricate world of mortgages, covering essential topics like interest rates, qualifying criteria, and invaluable advice tailored for first-time homebuyers.

Marcy emphasizes the pivotal role of a stable income and advocates for the involvement of a financial planner when navigating decisions about down payments and investments. They also explore the landscape of alternative lenders and offer a glimpse into the future trends shaping the housing market.

This episode doesn't just stop at mortgages; it concludes with thoughtful recommendations for local businesses, including a shoutout to City Junk and a must-read book titled "Stress Wisely," offering effective stress management strategies.

Don’t miss this wealth of knowledge on mortgages and housing trends - Tune in now!

Marci Deane, Ask Marci - https://www.askmarci.ca/

City Junk Services - Mathew Bartlett - https://cityjunk.ca/

Stress Wisely: https://www.amazon.ca/Stress-Wisely-Well-Unwell-World/dp/1774582627

What was covered:

(02:30) The upcoming Bank of Canada announcement on March 6th.

(03:22) Overview of the current real estate market and the impact of interest rates.

(06:01) Encouraging the idea of getting into the market, even if it's with a smaller property.

(08:08) Marci's insights on mortgage qualification, income stability, and down payment considerations.

(09:18) Emphasis on educating first-time homebuyers on mortgage math and setting realistic expectations.

(11:35) Clarification on the misconception of needing only 5% down and the importance of debt servicing.

(13:44) Exploration of scenarios where family assistance or inheritance plays a significant role in the down payment.

(15:33) Criteria for stable income, including the preference for salaried positions and the importance of a two-year average for variable incomes.

(17:23) Mention of alternative lenders for unique financial situations but emphasizing the need for a larger down payment.

(18:41) Discussion about whether to use a substantial inheritance for a down payment or invest part of it involving a financial planner.

(20:43) Anticipation of increased activity in the real estate market when the Bank of Canada starts cutting rates.

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In this episode of the 'Keeping it Real' podcast, Jacquie McCarnan delves into a fascinating discussion on the impact of emerging technologies on society, exploring the ethical considerations and potential challenges that lie ahead.  

Jacquie dives into the challenges of responsible AI development and uncovers the speculation and vacancy taxes impacting homeowners, plus a new flipping tax coming in 2025 with a 20% hit on quick property sales. While addressing housing affordability, Jackie also delves into exemptions, unintended consequences, and realtor opposition.

Don't miss a beat —tune in now! 

BC Gov Speculation and Vacancy Tax webpage: https://www2.gov.bc.ca/gov/content/taxes/speculation-vacancy-tax/exemptions-speculation-and-vacancy-tax/individuals/tenancy-requirements

BC Gov Flipping tax webpage:
https://www2.gov.bc.ca/gov/content/taxes/income-taxes/bc-home-flipping-tax

What was covered:

• (00:50) BC taxes (Speculation Tax, Vacancy Tax, and new BC Flipping Tax).
• (01:14) Speculation on the BC government's aim to make housing more affordable.
• (01:53) Overview of Speculation and Vacancy Tax, requiring yearly declarations.
• (03:21) Statistics on revenue generated from the Speculation and Vacancy Tax.
• 05:37 - Example of tax exemption for a house co-owned by spouses with parents living in it.
• (08:16) Introduction to the new BC Flipping Tax starting January 1, 2025.
• (08:29) Explanation of the Flipping Tax targeting quick property sales.
• (15:29) Noting exemptions to the Flipping Tax, including divorce or job relocation.
• (17:23) Long-term goal to make housing affordable in British Columbia.
• (18:08) Promotion of a local venue, the Polygon Gallery in North Vancouver.
• (19:03) Book recommendation: "Demon Copperhead" by Barbara Kingsolver.

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In this episode of the 'Keeping it Real' podcast, Jacquie McCarnan dives into the recent announcement by the BC government to invest $950 million and provide $2 billion in low-cost financing to build purpose-built rentals on public lands. The focus is on addressing the housing affordability crisis for middle-wage earners, such as teachers, nurses, and police officers, who struggle to live in the areas where they work.

Jackie breaks down the government's three-pronged plan, including connecting landowners with developers, streamlining the building approval process, and providing financial support for developers. She also discusses the importance of creating affordable rental housing and shares insights on how these initiatives could impact the market. However, she raises questions about the effectiveness of the plan, particularly regarding the percentage of units offered below market rates.

Don't miss this insightful discussion on various government initiatives and their implications for renters and homeowners alike. Tune in now!

What was covered:

• (00:45) $950 million and $2 billion in financing have been allocated by the BC government for the creation of rental homes on public land, targeting middle-wage earners.
• (01:31) Middle-wage earners, such as teachers and nurses who face challenges affording living in their work areas, are the focus of the allocation.
• (03:45) An overview of the "Homes for People" strategy by the BC government to tackle the housing crisis is provided.
• (05:21) A three-pronged plan has been initiated: landowners are connected with developers, building approval processes are expedited, and low-interest financing and grants are provided.
• (07:56) Concerns have been raised regarding only 20% of purpose-built rental units in announced projects being below market rates.
• (10:05) Potential future steps to make housing more affordable for purchase are acknowledged.
• (11:32) A local business, "Little Pink Door," is given a shoutout, and a book recommendation, "The Painted Girls" by Kathy Marie Buchanan, is made.

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In this episode of the 'Keeping it Real' podcast, Jacquie McCarnan delves into the recent extension of the Foreign Buyers ban in Canada and its perceived impact on housing affordability. Despite the ban's intention to make properties more accessible for Canadians, Jacquie highlights the surprising statistic that only about 7% of BC homes are owned by non-resident investors.

Jacquie emphasizes the need for public input to identify viable solutions, questioning the potential unintended consequences, such as higher interest rates affecting lower-end market affordability. She also explores various government measures, including taxes and incentives for rental buildings, expressing concerns about their effectiveness in addressing affordability.

Alongside her expert analysis, Jacquie offers a local business recommendation and shares a book tip, "Hello Beautiful" by Anne Napolitano.

Finding practical solutions for the housing market? Don't miss out – hit play now and stay informed!

What was covered:

(01:13) Extension of Foreign Buyers ban in Canada.

(03:32) Unintended consequences of the 2016 Foreign Buyers Tax.

(04:49) Introduction of the Foreign Buyers Ban in January 2023.

(09:23) Impact of rising interest rates on affordability.

(10:33) Illustration of the impact on first-time homebuyers Natasha and Sean.

(13:19) Mention of Singapore's model for foreign ownership rules.

(15:29) Call for real solutions and a committee to address affordability.

(16:13) Acknowledgment of potential backlash for a 60% spec tax.

(18:46) Book recommendation - "Hello, Beautiful" by Anne Napolitano.