Vancouver Real Estate Archives - Page 7 of 18

25Nov

City of Vancouver reminds residents of Empty Homes Tax declaration deadline

[Daily Hive - November 24, 2020] The Vancouver Empty Homes Tax (EHT) property status declarations for the 2020 tax year are due February 2, 2021. Each residential property is required to make one declaration, with instructions being mailed out to all property owners over the coming weeks. Declarations can be made online at the City of Vancouver’s website. Launched in 2017, the EHT was established to incentivize homeowners to make their empty and under-utilized properties available as rental homes. According to the city, [...]

Vancouver Real Estate

10Nov

Mortgage Qualification – 6 C’s of Credit

MORTGAGE QUALIFICATIONS 6 C’s of Credit When you apply for a mortgage you have to undergo a process of evaluation before you will be given an approval. The process called credit evaluation can take time and always involves an end, either an approval for the mortgage or a decline. If you are declined, you may be given alternative options such as private loans or a plan to help you to qualify in the future. The lender’s credit evaluation involves 6 main areas: Capacity [...]

Mortgage Education Centre, Vancouver Real Estate

10Nov

B.C. real estate agents urged to suspend all open houses

[BIV - November 6, 2020] B.C.’s real estate regulation agencies have asked industry professionals to suspend holding open houses at properties slated for sale/rent due to the province’s sharp spike in COVID cases. In a statement dated Nov. 5, the Real Estate Council of BC, the BC Real Estate Association and the Office of the Superintendent of Real Estate said the move is to limit face-to-face interactions in the home-buying process. Sales agents have been asked to conduct as much business [...]

British Columbia, COVID-19, Vancouver Real Estate

01Nov

Property tax hike of up to 12% needed to balance City of Vancouver’s 2021 budget

[Daily Hive - October 31, 2020] Vancouver City Council is facing some difficult choices ahead with the municipal government’s budget for 2021, based on a presentation city staff will be providing in a meeting on November 4. Due to COVID-19’s continuing impact, revenues from programs and services, parking, license, and development will still be lower, yet there will also be rising costs related to the pandemic response, such as managing street disorder, homelessness, and the opioid crisis, as well as increased [...]

British Columbia, Vancouver Real Estate

29Oct

Renderings of the massive redevelopment of Vancouver’s Molson brewery

[Daily Hive - October 28, 2020] Daily Hive Urbanized provided the first glimpse of Concord Pacific’s proposed redevelopment plans of the Molson Coors brewery in Vancouver in December 2019. And now, additional details and renderings show the true breadth of the massive mixed-use redevelopment of the 7.6-acre industrial property, located at the south end of the Burrard Street Bridge. The developer intends to build a redevelopment with a total floor area of 1.8 million sq ft, including 300,000 sq ft of office [...]

Home Design + Decor, Vancouver Real Estate

23Oct

Home improvement business is booming amid COVID-19 pandemic

[Globe and Mail - October 21, 2020] Paul Sangha has run a busy architectural landscape business for most of two decades, but by the end of 2019, business was “dead quiet,” and Mr. Sangha was preparing for a rough year. He had to lay off four staff. When the lockdown hit in mid-March, Mr. Sangha began paying staff their salaries in advance to give them a sense of certainty. But then something strange happened. Business suddenly picked up. By May he [...]

Home Design + Decor, Vancouver Real Estate

13Oct

Look for U.S. buyers to snap up more Vancouver homes

[BC Business - October 9, 2020] COVID-19 and political unrest stateside will help drive property purchases by Americans over the next year, real estate services firm Engel & Völkers forecasts Every time there’s a U.S. election, it seems, Americans threaten to move to Canada. Google searches for “How to apply for Canadian citizenship” peaked after the recent train wreck of a debate between President Donald Trump and Democratic rival Joe Biden. Andrew Carros, licence partner with Engel & Völkers Vancouver, thinks this time really [...]

International Influence, Vancouver Real Estate

12Oct

Vancouver well positioned for housing market recovery, industry experts say

[Globe and Mail - October 7, 2020] Winter is coming. But once the pandemic is over and immigration numbers return, Vancouver will be well positioned for a housing market recovery, said industry experts at the Vancouver Real Estate Forum held last week. The annual forum, held virtually this year, is the largest in the Lower Mainland, and covers all matters related to development. Opening speaker Benjamin Tal, deputy chief economist at CIBC, was frank about the fact that the dark days [...]

Economic Outlook, Vancouver Real Estate

05Oct

From pet clauses to rent forgiveness: Vancouver council to consider quartet of housing motions

[Vancouver Sun - October 5, 2020] From no pets clauses to rent forgiveness, a look ahead at some of the housing questions councillors are set to take on. Vancouver city councillors are set to debate a handful of housing motions aimed at expanding affordable options for residents and protecting and aiding renters as the COVID-19 pandemic wears on. Some of the four motions, slated for Tuesday’s chockablock council session, simply call on the province to resolve the issues, while others push staff [...]

Vancouver Real Estate

05Oct

Vancouver home sales surge 56.2% to record level for September

[CBC - October 2, 2020] 3,643 were sold in September this year, up from the 2,333 sold last September The real estate market in Vancouver had its best September on record this year in terms of the number of homes sold. The Real Estate Board of Greater Vancouver (REBGV) said on Friday that 3,643 homes were sold last month, up 56.2 per cent from the 2,333 sold in September 2019. Sales were also up 19.6 per cent from the 3047 homes sold in [...]

Economic Outlook, Vancouver Real Estate