This week we open up the proverbial mailbag and answer some listener questions…and there’s a lot to talk about.

Keith addresses the new vacancy tax, rate hikes and once again answers the question, “Is Vancouver in a bubble?”

Here’s a full list of the questions we take on this week:

* How is the new interest rate hike going to affect the Vancouver real estate market?

* Is Vancouver in a bubble?

* How can the city be better for home owners trying to build?

* Will the new vacant home tax do anything to cool prices?

* Is supply in Vancouver keeping up with demand?

* From 2010 to 2016 population size in Metro-Vancouver increased by 10.2% while occupied dwellings increasing by 7.8%

* This change in dwellings vs. population size means an increase in average household size from 2.6 in 2010 to 2.65 by 2016

*Numbers from statistics Canada 2011 and 2016 census data

* Canada has the 3rd largest homes in the world, yet 42% of people say they want bigger homes. (study by Point2Homes)

* How will technology change the way people buy real estate in the future?

- Time magazine tool “Will a Robot Take Your Job?”

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If you have any questions or any guests you would like us to interview, email us at [email protected].

Keith Roy – Personal Real Estate Corporation, RE/MAX Select Realty.

After 6 months of doing this show, looking at home ownership in Vancouver, have we managed to figure out how to make this city more affordable?

Yes…and no. What I have discovered in doing this show is that the issues surrounding affordability in this city are much more complicated than many believe them to be. There’s one group of people who say increasing density is the only solution and another group saying we should ban or heavily tax foreign owners…but at the end of the day, any one solution tends to be fairly short sighted.

A more reasonable and effective way to keep the city livable for a variety of people would be a plan that involves at least some of these ideas:

* Adjusting expectations

* Stop ignoring supply and demand

* A land development plan around transit lines

* Zero based zoning

* Upzoning

* Accepting foreign ownership

These are the best ideas we’ve heard on the show so far and we’re going to review them today.

We highlight some of our most popular interviews in the show this week, and if you haven’t had a chance to listen to the full interview, I highly suggest you go back and do so. Links to those interviews are below:

* Tony Joe on Foreign Buyers

* Anne McMullin on Supply and Demand

* Tom Davidoff on Upzoning

* Mayor Richard Stewart on Transit Development

* Michael Geller on Zero Based Zoning

* David Eby on Transit Development and Government Intervention

Enjoy

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If you have any questions or any guests you would like us to interview, email us at [email protected].

Keith Roy – Personal Real Estate Corporation, RE/MAX Select Realty.

With an average house price of $829,600, Victoria, BC is now the 3rd most expensive real estate market in Canada. An hour and a half ferry trip from Vancouver, this island town has seen similar growth to Vancouver in recent years.

Here to talk more about the Victoria real estate market, and how it relates to Vancouver is Tony Joe, a man with many titles, including: past president of The Victoria Real Estate Board, host of The Whole Home Show, long time Victoria Realtor, real estate coach and president of The Asian Real Estate Association.

In this episode we talk about who’s moving to Victoria, whether or not foreigners to blame for unaffordable housing and some of the racism and challenges Tony has faced as a Chinese Realtor in British Columbia.

Things We Talk About in This Episode:

* Tony’s real estate team

* Tony’s flyers spark controversy

* @TonyJoeVictoria

* Asian Real Estate Association

* The Whole Home Show with Tony Joe

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If you have any questions or any guests you would like to hear from, email us at [email protected].

Keith Roy – Personal Real Estate Corporation, RE/MAX Select Realty.

Uncertainty, an NDP government and confusing market statistics…

…is now really a good time to buy in Vancouver? If so, what’s the best way to make sure you don’t get taken advantage of?

Here to talk about that is my best friend and Buyer’s Agent for Keith Roy and Associates – Greg Dent. Aside from myself, Greg is the first Canadian real estate agent to ever be on our show!

We tell you what numbers you should be looking at as true indicators of the state of the market, plus give you some tips on how to negotiate the pandemonium of the Vancouver real estate market.

Stuff we mention in this episode:

* The KRA monthly market update (email [email protected] to request a subscription)

* A Globe and Mail article we were featured in, highlighting how we found our buyers an unlisted property

* An REW article from earlier this year where I accurately predicted where we are in the market now #humblebrag

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If you have any questions or any guests you would like to see, email as at [email protected].

Keith Roy – Personal Real Estate Corporation, RE/MAX Select Realty.

 

 

This episode will save you money (and a tax audit).

A must listen if you own property, especially rental property.

This week I’m back with Chris Thompson – my friend, husband of Keith Roy and Associate’s team manager, Anna and former tax lawyer.

Stephanie and I went over to Chris and Anna’s for ice-cream last weekend and while we were there Chris and I talked about taxes (because clearly we know how to rock a Saturday night).

We bust out the tax code and break down the following:

* Do you have to pay capital gains tax on your home when you sell if you had a rental suite in your house?

* Do I need to report all rental income to CRA?

* What’s my tax rate on my rental income?

* What expenses can I write off if I have a rental property?

* How long do I need to keep my tax records for?

* If I move into my rental property for a year before I sell it, do I still have to pay capital gains tax?

* Do I have to declare AirBnB income?

Links to some of the things we talk about in this episode:

* Beware the tax hit hiding in your basement

* CRA and Real Estate

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If you have any questions or any guests you would like to see, email as at [email protected].

Keith Roy – Personal Real Estate Corporation, RE/MAX Select Realty.

From 66° N IN ICELAND to 36° S, our international series of The Vancouver UnReal Estate Show continues this week in Santiago, Chile. I’m here for the RE/MAX of Chile convention and sitting down with Gustavo Caricote, director of global development for RE/MAX International, specializing in real estate in Latin America and the Caribbean.  We’re answering the question…

What’s the real estate industry like in South America?

Based on the conversations I’ve had with some agents, it seems like the wild-west down here, with no real estate licensing and virtually no industry regulation.

I’ve been describing Chile as “the Canada of South America.” The people here are friendly and the RE/MAX agents are eager to learn, but their system of real estate is years behind our system at home.

Hope you found this interview as interesting to listen to as I did to record it.

Enjoy.

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- Photos from Chile

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I’m back from my travels now and will continue the show in Vancouver next week.

What other global real estate markets would you like to learn more about? Or are there any other real estate related questions you’d like answered? Let us know by emailing [email protected]

This month, The Vancouver UnReal Estate Show is on the road, speaking with agents and brokers from all over the world. We’ll talk about what is unique about their marketplaces and what lessons Vancouver can learn from them.

Last week, we heard from my good friends Binni and Sylvia who a real estate brokerage in Reykjavik called Fasteignasala Reykjavikur, also known as Real Estate of Reykjavik.

In this episode we hear from Binni and Sylvia’s business partner Björn Sigurðsson, who goes by the name Bussy. We’ll review some of the things we talked about in the previous episode and get into a bit more detail about building and the unique challenge of mortgaging property in Iceland, a country of roughly 330,000 that still uses its own currency.

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Be sure to tune in next week for UnReal Estate of Chile where I travel from 66° N to 36° S, all the way to Santiago, Chile. I’ll be featuring agents and brokers on the podcast to discuss real estate in Chile, the challenges they face and what Vancouver can learn from them.

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If you have any questions or any guests you would like to see, email us at [email protected].

Keith Roy – Personal Real Estate Corporation, RE/MAX Select Realty.

 

This month The Vancouver UnReal Estate Show is on the road, speaking with agents and brokers from all over the world. We’ll talk about what is unique about their marketplaces and what lessons Vancouver can learn from them.

This week and next, we’re in Reykjavik, Iceland where I’m visiting my good friends Binni and Sylvia. Binni and Sylvia own a real estate brokerage in Reykjavik called Fasteignasala Reykjavikur, also known as Real Estate of Reykjavik.

Binni was previously licensed as a Realtor in Iceland, but after the government forced new and existing agents to go back to school for two years or lose their license, he took on a management role with the company. His wife Sylvia did her two years of training and is now a “legalized Realtor.”

We’ll talk about the education requirements a bit more, and we’ll also get into home building, the effect of tourism and, of course, the hot topic of foreign ownership and what Iceland is doing to put their citizens first.

Links below to some of the things we talk about in this episode:

- Costco in Iceland

- Information on the Schengen Association

- The Chinese billionaire named Nubo who wanted to build a golf course in the snow

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Be sure to tune in next week where we wrap up the Iceland real estate conversation by speaking with a co-owner of Real Estate of Reykjavik, another friend of mine, Björn Sigurðsson. We’ll get into the unique challenge of mortgaging property in Iceland, a country of roughly 330,000 that still uses its own currency.

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If you have any questions or any guests you would like to see, email us at [email protected].

Keith Roy – Personal Real Estate Corporation, RE/MAX Select Realty.

 

Realtors get a bad rep. To be fair, some of it probably justified. I've even spoken out about Realtor ethics in the past before and how I believe there should be more barriers to entry. But all that to say, most of us a good people, just trying to eke out a humble living.

The average Realtor in Canada sells 5.2 homes a year and makes approx $40,000 BEFORE expenses. Most agents are not high rollers by any means.

Here with me this week to talk about his experience in the real estate industry and his perspective on Realtors is my friend, mentor and business coach, Richard Robbins.

I've know Rich for the past 11 years and he's helped me through a lot in both my personal and business life. He is co-founder and CEO of Richard Robbins International (RRi for short), a global sales and business coaching organization that has been providing leading-edge sales and business training solutions to real estate agents, mortgage brokers and leaders at all levels since 1998.

Rich is an amazing public speaker who has inspired countless agents. He even motivated me to go into public speaking, myself. He talks to Realtors all over the world and has a really in depth understanding of real estate markets and the struggles of Realtors all over the country.

Enjoy the episode and as always, let us know if you have any questions or comments.

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If you have any questions or any guests you would like to see, email as at [email protected].

Keith Roy – Personal Real Estate Corporation, RE/MAX Select Realty.

Thanks for tuning in to part 2 of our 2 part Mother's Day special.

Last week we heard from my grandmother, Deinie Epp with the first half of her life story. A courageous woman, she left my grandfather in 1970 and as she says in this interview, her life started all over again when she turned 43. Hope you enjoy this 2nd part of the interview and her unique perspective on housing and the Vancouver real estate market.

I mention at the end her 90th birthday is coming up this summer. If you'd like to send her a note or a card, our contact info is below.

Thanks again,

Keith

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Email: [email protected].

Remax Select (Main St.)

4806 Main St.

Vancouver, BC

V5V 3R8

604-210-2933

Keith Roy – Personal Real Estate Corporation, RE/MAX Select Realty.