This poll was conducted by the Fraser Valley Real Estate Board on all members who had sold a house during the first two weeks of each month.

* A decrease in 1st time buyers - from 34% in April to 27% in May.

* An increase in mortgage-free buyers from 12.5% in April to 22.2 % in May.

* Increase in single female buyers - from 7.2% in April to 17.5% in May.

* 10% decrease in people moving within the same community, and an increase in people moving to the Fraser Valley within BC (+4.5%) and the rest of Canada (+3.4%).

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The government of Canada has just recently increased the withdrawal from RRSPs for the first time buyer.  They can now withdraw $25,000 (up from $20,000) with 15 years to repay.

Your child is getting married and you want to help out financially.  What is the best way to do this? 

Here are a few options:

GIFT:  You could give your child an outright gift.  The advantage to them is that any gift given while you are living is tax free.  If given after your death, the gift is subject to probate.

If you do not care about protecting this money,  then an outright gift would be fine.  Should your child and spouse separate, the spouse would get half of your gift in settlement.

2nd MORTGAGE: By being on title, you protect this money from being lost in a separation.  One disadvantage is that any gains on your part are subject to capital gains tax.  Another disadvantage for the couple is that they would need your signature in order to sell that home. 

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The new Harmonized Sales Tax comes into effect on July 1, 2010.  There are some public misconceptions about this tax, so here is some information to help you sort through what you hear.

Fact:  The HST applies to NEW homes being sold for the first time and to homes that have been substantially renovated (90% or more).  The purchase agreement has to be signed after November 18, 2009, with possession dated on or after July 1, 2010.

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Staging your home to sell can help you get a premium price for your home.  Done right, it helps your place sell faster and for more money.  Professional home stagers play up the best features of your home and minimize the worst.  They rearrange artwork, pack up the personal items like bowling trophies, and clear out the unnecessary items.

Here are the 10 best tips that stagers use:

1.  First Impressions

     Prospective buyers make up their mind very quickly about your home based on their first impressions.  So clean up the yard, rake your leaves, sweep driveways and porches, or powerwash them.  Spend time cleaning the front door, railings and steps.  Put away recycling cans and bins in the back yard.

2. Declutter

   Clutter will lose you money on your home.  Purge your closets, empty cupboards, box up anything you don’t use everyday. Reduce the number of books on the shelves as well as the DVDs and CDs. Be ruthless!

3. Keep it neutral

   Your goal is to have the buyer imagine him or herself as living in your house.  So remove the personal items, like the family photos, all that stuff on the fridge, all your shampoo bottles, etc.

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What’s the difference between a Customer and a Client?

In real estate transactions, buyer-clients are entitled to a higher level of service than buyer-customers.  Becoming a client typically involves signing a Buyer Representation Agreement with a buyer’s representative, who then owes you fiduciary duties.  This means that your buyer’s rep is expected to exercise discretion when acting on your behalf, including adhering to very specific responsibilities, obligations, and high standards of good faith and loyalty.

This means that a client has a signed agreement with the REALTOR®. A customer is typically represented by another REALTOR®.  However, if the REALTOR® is representing both the seller and the buyer, then both must sign a Dual Agency Agreement.  Richard, however, will not do a Dual Agency Agreement, because it is too difficult to be completely transparent with both parties.

Even if you are working with a Real Estate Team, as a buyer, you should sign a Buyer’s Representative Agreement with the agent who is working with you as a buyer. If not, that REALTOR® is legally working for the seller as a sub-agent.