Vancouver Real Estate Archives - Page 13 of 18

30May

Vancouver’s real estate market is reeling, Or is it balancing

[Source: Real Estate Professional - May 30, 2018] “As far as the overall market period for the whole Lower Mainland here, things have quieted down dramatically,” said REMAX sales agent Ron Antalek. “Burnaby is down 48% on the 10-year average, so it’s a very different market than it was in the fall.” New mortgage lending rules in tandem with provincial government regulation have created a whole new landscape, according to Antalek. “Unfortunately, we see a combination of the new lending rules implemented [...]

British Columbia, Vancouver Real Estate

03May

Vancouver single-family home sales see weakest April in decades

[Source: CBC News - May 02, 2018] Just over 170 detached homes were sold in the city last month. Vancouver saw its weakest April for single-family home sales in nearly 30 years last month, data shows. The numbers are in line with the downward trend in detached home sales the city has seen all year — which experts say doesn't bode well for the rest of the calendar year, given the fact that the spring months are usually the busiest time for sellers. On Wednesday, The [...]

British Columbia, Vancouver Real Estate

17Nov

Starting next year, a B.C. realtor can’t represent both buyer and seller on one deal

[Source: Global News, November 15, 2017] In B.C., a single realtor can currently represent both buyer and seller on a home sale. It’s an arrangement that will end in March, as part of a slate of new rules that B.C.’s Office of the Superintendent of Real Estate (OSRE) introduced on Wednesday. The rules ban what’s called a “dual agency” deal, in which a realtor acts on behalf of the homebuyer and the seller at the same time. B.C. will be the first [...]

British Columbia, Vancouver Real Estate

22Oct

Planning a Move this Winter? Tips on How to Successfully Downsize

[Source: Next Step Organizing Services, October 22, 2017] Whether you're moving from a a big family home to a Yaletown condo or moving in with a partner, downsizing is necessary. Moving from a large home full of your stuff to a small space can be challenging, and while it's easy to say "just eliminate the extra stuff," doing it is not so easy. Here are some tips to make the transition as smooth as possible. 1. Be Prepared! Make a plan: create [...]

Home Design + Decor, Remodel + Renovation, Vancouver Real Estate

20Oct

The Tale of Two Housing Segments Continues in the Greater Vancouver Residential Real Estate Market

[Source: Business Insider, October 12, 2017] Affordability issues and mortgage regulations spur activity in the region's entry-level market. Price gap between condominiums and two-storey homes continues to narrow, benefiting move-up buyers. VANCOUVER, Oct. 12, 2017 /CNW/ - According to the Royal LePage House Price Survey1 released today, sales activity and consumer confidence across the Greater Vancouver residential real estate market continued to recover in the third quarter of 2017. While home price appreciation softened in the detached segment, condominiums continued to [...]

British Columbia, Vancouver Real Estate

20Oct

B.C. the ‘bright light’ for Canada’s economy

[Source: Journal of Commerce, October 20, 2017] Economic indicators are looking good for British Columbia, Canada and the world. At a provincial level, the economy is in great shape, Central 1 deputy chief economist Bryan Yu said at the recent CanaData West conference in Vancouver. "British Columbia is doing phenomenal regarding the economy and the outlook going forward is positive," Yu said. The province's economy is showing strong job growth and consumer demand as well as positive indicators for wages, population and [...]

British Columbia, Canada, Economic Outlook, International Influence, Vancouver Real Estate

18Oct

“Breaking Bad – News” – Big Changes Ahead

[Source: Synergy Mortgage, October 18, 2017] Stringent NEW Canadian Mortgage Rules take affect January 1st, 2018. Office Of The Superintendent Of Financial Institutions (OFSI) has finalized NEW mortgage rules applicable on all federally regulated banks. The new rules officially start January 1, 2018. This will dramatically change the lending landscape. The new rules apply to all bank mortgages and will make borrowing more difficult even for clients who have substantial down payments, strong income and excellent credit. Alternative lenders with relaxed qualification [...]

British Columbia, Canada, Economic Outlook, Mortgage Education Centre, Remodel + Renovation, Vancouver Real Estate

10Aug

What’s the Average Value of a New Mortgage in Vancouver?

[Source: REW, August 8, 2017] Number of new mortgages across Canada and in BC rose in 2016, CMHC reports – but Vancouver loan amounts decrease. With Greater Vancouver home prices increasing exponentially each year and now at record highs, there is a widespread – and understandable – assumption that most buyers must be taking out huge mortgages to afford real estate in the region. However, the average value of a new mortgage loan in the Vancouver Census Metropolitan Area (CMA) in 2016 [...]

Mortgage Education Centre, Vancouver Real Estate

07Aug

Metro Vancouver sees fewer home sales and more listings in July

[Source: REBGV, August 2, 2017] The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,960 in July 2017, an 8.2 per cent decrease from the 3,226 sales recorded in July 2016, and a decrease of 24 per cent compared to June 2017 when 3,893 homes sold. Last month’s sales were 0.7 per cent above the 10-year July sales average. “Housing demand is inconsistent across the region right now. Pockets of the market are still [...]

News Releases From REBGV, Vancouver Real Estate

07Aug

Foreign buyers’ tax, other measures under review: B.C. housing minister

[Source: Vancouver Sun, July 31, 2017] British Columbia's new Housing Minister Selina Robinson says she is reviewing the tax on foreign buyers of Vancouver real estate and the province's interest-free loan program to first-time homebuyers. The provincial government is reviewing the foreign buyers’ tax in the Vancouver area and the interest-free loan program to first-time homebuyers to determine whether they have been effective in improving affordability, the province’s new housing minister says. In an interview Monday, Selina Robinson said she and provincial [...]

British Columbia, Vancouver Real Estate