Would you trade your Car for a Condo??

My Gastown Developments has come up with an interesting new way to buy a home in their new development InGastown. You can trade your car...for the condo. Or at least the down payment. 

Here is how it works: you drive your car to the presentation centre and they appraise it. The value of your car is then put towards the down payment needed for the condo - with several financing options available. Included in the deal is a free membership to Modo Car Co-op - giving you access to a car when you need it. 

“A car is a depreciating asset so trading in a car for a condo – an appreciating asset – makes good business sense, and this new program allows some people more choices in how they want to live,” says Cam Good, president of Key Marketing. “This helps people get a foot in the door if they want to live in Gastown, get money for a down payment and live car-free to reduce expenses.”

Definitely an interesting idea - find out more about it at ingastown.com

Facebook buys WhatsApp for $19 BILLION dollars

Business Insider - Facebook announced Wednesday that it is buying the messaging app WhatsApp for $12 billion in stock, $4 billion in cash and another $3 billion in restricted stock unites to be granted to WhatsApp's founders and employees over the next four years.

For those not familiar, WhatsApp is a real-time messaging service, that allows people from around the world to stay connected with friends and family. It currently has 450 million users worldwide. The app is free to install and users pay $0.99 every year. The app has never had ads, and that will continue. 

Good news for First Time Home Buyers

The B.C. Provincial Government announced its provincial budget for 2014 - which included some good news for first time home buyers in B.C. The B.C. First Time Home Buyers Program allows B.C. residents to reduce or eliminate the property transfer tax paid when purchasing their first home. The B.C. government has increased the threshold for this program to $475,000 from $425,000 - effective February 19, 2014. This means that any home purchased by a first time home buyer for a fair market value of $475,000 or less is exempt from paying any property transfer tax - a savings up to $7500. 

For more information on the First Time Home Buyers Program, visit the website here. 

Calgary's housing market stays hot

CALGARY HERALD - Calgary's hot housing market started 2014 with a bang...and shows no signs of cooling off any time soon. Calgary recorded the highest year-over-year jump in house prices across the Canada in January, and so far indications show the escalation continues in February. 

The Canadian Real Estate Association released its monthly MLS data on Friday and listed Calgary as the top centre in the country for annual growth in the MLS Home Price Index at 8.98 per cent. Nationally, prices, in the 11 centres surveyed, rose by 4.83 per cent.

“We are seeing multiple offers in all price points. Obviously the lower the price point, the larger pool of buyers there is and hence a greater likelihood of multiple offers in the lower price points,” says Crystal Tost, a realtor with RE/MAX Realty Professionals in Calgary.

Al Capone's former Miami mansion up for sale

One of the most famous  pieces of real estate in Miami, the former home of notorious mob boss Al Capone, is up for sale. Originally purchased by Al Capone in 1928 for $40,000,the 10,000 sq ft waterfront mansion is now listed for $8.5 million.