Budget: Dramatic fee hikes coming to real estate market

Uh oh… But a NEED TO KNOW for any new home buyer’s.

Calgary Herald

In a budget thick with user fee increases, homebuyers face the biggest whack — registration fees will triple or quadruple for many new property owners.

The dramatic hikes for registering new land titles and mortgage documents come as Alberta’s real-estate market is mired in a significant slump, with sales volumes down and prices beginning to dip.

The move surprised many in the sector, but Service Alberta Minister Stephen Khan said lawyers and real-estate associations told him there was room to grow, compared with the taxes and fees in other provinces.

“We heard that independently from our stakeholders — boy you guys are really, really really low when it comes to fees,” Khan said. “There’s a recognition that having the lowest fees is not a sustainable model.”

There are two segments of land title and mortgage registration fees, and both will rise July 1. The flat-fee portion for each type of…

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Spring real estate market heats up in Toronto, Vancouver, realtors say

Global News

TORONTO – Rock-bottom interest rates, a scarcity of supply and growing demand from millennials and wealthy immigrants have fuelled a strong start to the spring real estate season in Toronto and Vancouver.

“Spring has come early for both Toronto and Vancouver,” said Sal Guatieri, a senior economist at BMO Capital Markets.

Both cities experienced growth in sales volumes and prices during the first two months of the year, Guatieri said.

“I would expect the spring market to be quite hot in both cities – but that will be the exception across the country, not the norm.”

In Toronto, February home sales grew by 11 per cent from a year ago while prices jumped nearly eight per cent, according to statistics from the Toronto Real Estate Board. That’s despite the fact that it was one of the coldest Februaries on record for the city.

“I’ve always said that our climate naturally…

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