Consumer Confidence Recovering

February 23, 2009

Consumer confidence Recovering

Canadian consumer confidence has revived since December to highest level since August, according to a Harris-Decima poll. While the US was officially in recession at that point, it wasn’t until September that the current economic turmoil emerged to the front pages of our newspapers with required bailouts an massive corporate failures.

While supply and demand are the key factors in prices and activity in the Real Estate Market, consumer confidence is a key component of demand. Nobody wants to purchase an asset that will immediately drop in value. Vancouver Real Estate Prices have been falling through much of 2008, and especially in the second half of the year.

Whether or not prices have stabilized, consumers are feeling good enough about the market that they are again participating. Since mid February, there has been a flurry of activity in the $250,000-$400,000 condominium market. Some of this has been the blowout sales such as the Onni Group / Mac Marketing and H & H (Homer and Helmcken) projects. I think the spring will see increased activity as good opportunities are identified and people are less scarred to make a move.

David Watts

http://www.davidnotary.com 2.0

February 16, 2009

I’d like to give you a quick tour of my new website, www.davidnotary.com.

 

I’ve switched a few things around, trimmed a little bit; and added a few new features.

 

Information that doesn’t really change about the things I do such as Real Estate Purchases, Sales, Mortgages; Wills and Powers of Attorney and General Notarization are still here; but they are more concisely organized and I got rid of the flash banner so the page loads faster.

 

One cool new feature that I’m excited about is the online “Live Help” support.  When it says “Online”, you can click on the button the start a live chat.  Its real time and so much faster than phoning or emailing when you just have a quick question, want a quote, or would like an update on your file. You will also receive by email a transcript of our conversation; and I keep a copy.

 

I got rid of the “About Me” section of the website because what I’m doing changes all the time.  What I have done instead is provide links to my social media profiles so you can find me on Facebook, check out my LinkedIn Profile, or follow me on Twitter. 

 

Finally, I have also added a Blog page where I intend to have both written and video blogs sharing information about the things I do; what I think about things; and as a forum to discuss new topics and ideas.

 

I hope you like it; I sure do; and if you any questions, you can always call or email me at david@davidnotary.com.  Thank you and have a great day!

 

With the chance of values we have experienced in the Vancouver Real Estate market, especially in Downtown condominium project; many people who have purchased Pre-Sales are now completing their purchases at significantly higher prices than the property would be worth if they were negotiate a deal today. As long as you don’t live in the property, you are purchasing an investment. Some investments go up and some go down. I think we are all pretty familiar with investments that go down these days. If you turned around and sold a property today, you would probably do so at a loss.

If there is a bright side to this, and its always good to try to find an opportunity or positive angle in times of turmoil; consider this: If you have paid tax on capital gains in recent years, you may be able to carry back this capital loss and apply it against previous years gains. You may be able to get a refund of previous year’s taxes by reporting a loss on your current year’s income tax return. If you do not have previous year’s gains, you can carry forward this capital loss until such time as you have a gain to which you can offset it.

I know we would all rather be worrying about how to pay less tax on our profits; but if its losses we currently have, we need to make the best of the situation.

If you have any questions you can ask the person who does your taxes; or you can always email or phone me, and I would be happy to discuss.

David Watts

Links:

CRA: http://www.cra-arc.gc.ca/menu-e.html
Net Capital Losses of Other Years: http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/ddctns/lns248-260/253/menu-eng.html