Latest Jurock.com Video:


Ozzie Jurock: December Real Estate Numbers
Date: Wednesday, January 14, 2009 (Length 4 min 12 secs)
56K or High Speed

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Latest Mortgage Rates:
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August 18, 2010	1 yr	2 yr	3 yr	4 yr	5 yr	7 yr	10 yr	15 yr	18 yr	25 yr
Meridian Rates	2.60%	3.04%	3.42%	3.79%	3.78%	4.65%	4.99%	9.25%	9.25%	9.35%
Posted Rates	3.70%	4.20%	4.75%	5.44%	5.79%	6.49%	6.80%	n/a	n/a	n/a

"Over the past 2 years, credit has been tightening, specifically for real estate investors," says Kyle Green of Mortgage Alliance (1-888-531-8890 or cell 604-551-8976, kyle@homelinecanada.com). "One of the 'soft' rules that have been hurting a number of clients with good credit and cash flowing portfolios has been liquid assets. Just as someone would tell you to diversify your portfolio if you had it all tied up in stocks, the same rule now is applied to real estate. The banks are now looking for investors with strong portfolios but with liquid assets that will assist you if a roof goes on one property, a hot water tank on another, and some vacancies mixed in. Some banks want to see $100,000 or more in liquid assets, so be prepared!"

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Weekly Real Estate Deals:
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1. Penticton, New 1 bedroom + den, 810 sq. ft. in the 'Verana Okanagan', two blocks from Skaha Lake. Price: $224,900 + HST is being paid for by the developer on all sales original listed price on this unit was $275,000 ($50,100 savings). Contact: Matt Hay, marketing manager with Rivendell Homes, (250) 493 - 1555 x104, matt@rivendellhomes.com.

2. Nootka Sound, fishing lodge. How about a fishing lodge with the works ... property has room for 20 guests and staff ... commercial kitchen, dining room, loungs patio and decks and a significant dock system and break water. Price: $359,000. Where? In Nootka Sound on beautiful Vancouver Island. Look it up at: www.bcoceanfront.com/show_listing.php?id=214

Offerings placed here have not been researched by us, no commission is paid to us, there are no warranties of any kind. Any subscriber can post what they consider to be a 'deal' on our internal password protected website and sometimes we post it here as well.

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The following are the latest Questions and Answers from Jurock.com's "Ask an Expert"
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Ask a Tax Expert: David Ingram
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Q: My son bought a presale in 07 and took possession over a year ago. He is thinking to move in with his girlfriend and to rent his condo out.If he goes to sell the condo in 2 or 3 yrs will he have to pay capital gains? Is there a way to get around it?

A: His condo is tax free from when he bought it to the day he moves in to live with his girl friend. At that point, they are likely in a common-law marriage and they can only have one property between them.

This will usually mean that the girl friend gets the tax free status.

He can file an election under 45(2) and claim it tax free for an extra four years but if he does and 'does', the girl friend's condo becomes taxable for that period.

They will have to file form T2091 at that time.

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Ask a Tax Expert: David Ingram
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Q: I bought a one acre piece of property in 2002 in the Okanagan Valley and planned to build my dream home when I retired in 2008. After we retired to the Okanagan in 2008 we realized that we could really not afford to build. We sold the lot in 2010 for a capital gain. Can I claim the property taxes as a deduction or add them on to the adjusted cost base?

A: Sorry, property taxes or interest you paid can NOT be added to the ACB in Canada or the US.