Newsletter April 20, 2009
Issue 3
April 20, 2009
The Walls Are Going Up
Debra Waluk
As you can see from the picture we are now out of the ground and it is up, up and away from here. This is an exciting milestone as we certainly have met several obstacles to get to this stage, including boulders and the worst winter in several years. Our team has pushed very hard to stay on track and although we are slightly behind schedule at this time we all feel very confident that the lost time can be made up by long hours and weekends. Watch for us next month as Studio NA continues to become the address of distinction in Downtown Nanaimo.
First Time Buyer Market
Malcolm Johnson
First Time Home Buyers are leading the current market. Some stats out of Vancouver suggest that over 50% of the sales in the last quarter have been first time homebuyers. First timers have several advantages over current owners. One of the main advantages a first timer has is that they have nothing to sell. This has real power in today’s market. In addition first timers can capitalize on record low interest rates, no property transfer tax if they qualify (a savings of up to 5K), tax free RRSP withdrawals of up to $25,000 to assist with their purchase and a new $750 home purchase tax credit introduced by the federal government. With all these incentives it is no wonder First Time Home Buyers are leading our market.
