Ozzie Jurock's Archives
Question: Wednesday, December 03, 2008
We purchased a home that was formerly used as a grow-op by the previous owner for many years. He was charged and convicted of these illegal activities and our realtor knew this but did not disclose it to us prior to purchase. Is he liable?
Question: Wednesday, December 03, 2008
I have used most of the equity in my principal residence to finance a rental property. I would like to purchase more investment property but fear that the banks will not lend me anymore money because of the maximum debt service ratio. Do you have any advice on what kind of deals I should be looking for, and how do I find them?
Question: Wednesday, December 03, 2008
Some of the risks I perceive re condos, stratas etc. are twofold: the potential for lack of disclosure and the risk involved with potential property improvements. Reading the recent articles about deals becoming available has me thinking that the lower prices are not only functions of the general economy but also reflection of the fear of these agreements that others are feeling. Do you have an opinion on this?
Question: Thursday, November 27, 2008
I have heard that the premier has frozen all assessments to the 2007 levels. Does that mean January or December 2007? And how long can I defer to pay the taxes? Also, I was going to dispute my 2009 assessment, can I still do that?
Question: Thursday, November 27, 2008
Where is there an independent website where you can find out real estate values and market conditions without a realtor?
Question: Thursday, November 27, 2008
Do you think it makes a difference listing with a national real estate company (e.g. Remax, Century 21) compared to a local independent company? We live in Castlegar, B.C.
Question: Thursday, November 27, 2008
I am a small builder. I have a 2100 sq. ft rancher on 1/2 acre listed in April for $689k I have dropped the price five times to $549k. Thinking - should I go all in and drop to my break even of $499k or wait till spring or should I continue to drop more incrementally? I built a similar house next door and sold in July 07 for $589k.
Question: Tuesday, November 18, 2008
I have had a home for sale on the Westwood Plateau for two months with no offers. Last year (June 2007) I was told that the home is worth $1,050,000. I listed it well below that. It was assessed in 2008 at $940,000. Presently there are 55 listings for sale price range $800,000 to $975,000 in my immediate area. There were only two sales since Aug. 1, 2008. One was listed for $888,000 said for $771,000 and the other was originally listed for $998,000 reduced to $939,000 and then sold for $905,000. I need to sell. How can I get the place sold?
Question: Tuesday, November 18, 2008
My bank has advised me to lessen my monthly payments by rolling my car loans and my mortgage together into a home equity line of credit that will reduce my monthly payments. Is this a good idea? It's an open variable line of credit and the interest rate is five per cent. Will the interest be tax deductible?
Question: Tuesday, November 18, 2008
A few years ago, I bought a one bedroom suite in Yaletown. I lived in it for two years and then rented it out - now for three years. Can I deduct any expenses - cost of purchase, maintenance, legal fees, etc. - against my rental income?