Vancouver Real Estate Archives - Page 5 of 18

06Feb

Why detached home prices in Greater Vancouver have been rising, while condo prices have stayed static

[CBC - February 3, 2021] Single-family home prices increasing at level not seen since mid-2010s COVID-19 doesn't affect all people equally — and it doesn't affect the housing market equally either. The average selling price of a detached home in Greater Vancouver rose for the sixth straight month in January, the first time that had happened since 2013. At $1.83 million it's the third highest monthly figure in the history of the Greater Vancouver Real Estate Board. To the east, the Fraser Valley [...]

COVID-19, Vancouver Real Estate

22Jan

Pandemic housing market to stay hot in 2021, but economists expect a hangover later in the year

[Financial Post - January 14, 2021] Much is dependent on vaccine outcomes, interest rates and buyer psychology. This year is forecast to be another brisk one overall for Canada’s housing market, but economists also see reason to believe that the rush for residential real estate will start losing momentum as 2021 drags on. The housing market “likely had its strongest year ever in 2020,” Royal Bank of Canada economist Robert Hogue wrote in a report released on Wednesday. Even with coronavirus raging, RBC [...]

Canada, COVID-19, Toronto, Ontario, Vancouver Real Estate

06Jan

Suburb bidding wars spike as Metro Vancouver home sales resilient during pandemic: realtors

[News 1130 - January 5, 2021] VANCOUVER (NEWS 1130) — Home sales in the suburbs are booming, with bidding wars now a regular occurrence, realtors say, while recent data shows how resilient Metro Vancouver property sales have been through the pandemic. According to the 2020 numbers, the sales were 2.8 per cent below the 10-year average for the Vancouver area. However, the early months of the pandemic saw sales all but stop. This comes despite sales all but stopping in the [...]

British Columbia, Vancouver Real Estate

05Jan

News Modest increase in most B.C. properties, with shift to larger homes: BC Assessment

[CTV - January 4, 2021] VANCOUVER -- Property owners across B.C. can expect a modest increase to their homes’ assessed value this month, bucking concerns of a COVID-related collapse, with the lion’s share of the growth being felt in already high-priced single family homes. While low interest rates have likely kept money cheap and prices high, the pandemic may be partly to blame for the shift to larger properties, with buyers looking for bigger spaces to accommodate all the things many [...]

British Columbia, Vancouver Real Estate

02Jan

Canada 2021 Housing Forecasts Call For A Boom … Or The Worst Crash in 40 Years

[Huff Post - January 2, 2021] Amid an unpredictable pandemic, forecasts for the housing market are pretty much all over the map. This could be the toughest year in living memory to make predictions about the economy ― especially the housing market. Amid the worst economic slowdown in decades, home sales and prices soared in many Canadian cities in 2020, along with housing markets in many other countries. The average house price in Canada has shot up by 13.8 per cent over [...]

Canada, Economic Outlook, Toronto, Ontario, Vancouver Real Estate

02Jan

Paying down debt Canadians’ top financial goal in 2020: poll

[Financial Post - December 31, 2020] CIBC survey found many people took on more debt this year to cover day-to-day expenses and make up for lost income. TORONTO — Paying down debt is the No. 1 financial priority of Canadians heading into the new year, according to a new survey that found many people took on more debt this year to cover day-to-day expenses and make up for lost income. The annual CIBC online poll said tackling debt has remained unchanged as [...]

Canada, Vancouver Real Estate

01Jan

Buying a home this year | Mortgage qualification 101

[Synergy Mortgage - January 1, 2021] If you have decided to buy a home this year, we are here to help! While we certainly do all the heavy lifting to ensure your mortgage experience is as easy and seamless as possible, it’s important that you’re fully up-to-speed on all the mortgage basics. Especially given today’s fast-paced real estate market. Whether you’re a first time homebuyer or returning client, stay tuned for our “Buying a home this year” educational series. We will continue to provide you [...]

Mortgage Education Centre, Vancouver Real Estate

22Dec

Foreign ownership registry a game changer in B.C. say real estate insiders

[Globe and Mail - December 9, 2020] Recent government action to force transparency of property ownership in B.C. had outspoken immigration lawyer Richard Kurland so impressed that he fired off a letter to the Premier. “It’s game over. It’s huge,” Mr. Kurland says. “It means you can’t hide international capital in B.C. real estate. And it’s about gosh darn time, because there were so many players who benefitted from being blind … including individuals who were able to hide capital, to [...]

International Influence, Vancouver Real Estate

09Dec

Vancouver real estate: 2020 sales so far surpass whole of 2018, 2019, and December has just started

[Georgia Straight - December 8, 2020] A new market report by Vancouver-based Dexter Realty shows that 2020 will finish with a bang. Residential and land sales so far this year in the city of Vancouver exceed annual numbers for 2018 and 2019. These are numbers from January to November 2020, and sales in December have yet to be counted. The same picture is mirrored on a regional scale across areas covered by the Real Estate Board of Greater Vancouver (REBGV). This means that any [...]

British Columbia, Vancouver Real Estate

06Dec

5 reasons to get a second opinion on your mortgage renewal

[Invis Synergy Mortgage - December 2020] Given the large financial commitment of a mortgage, it's surprising that so many homeowners sleepwalk through the mortgage renewal process and don't look at all their options in the marketplace. Many accept whatever their lender offers or just have a short negotiation to shave a few points off. While it's tempting to choose what is easiest, it's so important to have a mortgage expert give you a second opinion and start working for you as [...]

Mortgage Education Centre, Vancouver Real Estate