In the News
Low House Prices not all Bad News
A gradual cooling in house prices … will look good in hindsight. While there is a financial pain to be had from lower housing prices, Canada's housing is unlikely to crash like the U.S. and Irish economies in recent years. In both cases, it wasn't just lower home prices that started it all, but the wave of defaults that followed. That's simply less likely to happen here. [Read More]
Vancouver Wins Inaugural Guangzhou International Award for Urban Innovation
The City of Vancouver has won the inaugural Guangzhou International Award for Urban Innovation for its Greenest City and housing affordablitly initiatives. [Read Full Article]
Council Approves Vancouver Housing Market
Three Vancouver neighbourhoods are set to become the first in the city -- not to mention the country -- to see the development of smaller-sized homes, duplexes and row houses on under-utilized residential streets and back lanes. [Read Full Article]
Experts predict 10% Drop for 2013
BCREA chief economist says tighter mortgage rules triggered a 20.5% drop in Vancouver home sales, in a market that was already softening. Last year wealthy Chinese buyers drove prices in Richmond, West Vancouver and Vancouver's west side to heights that skewed regional aver-ages upwards, but the reverse has happened in 2012, as these markets deflate and pull regional averages lower. Read Full Article
Best BC Neighbourhoods for Real Estate Investments
20 BC Neighbourhoods are included in the Top 100 Canadian neighbourhoods to invest in. Read Full Article
Vancouver Named World's Most Reputable City
Vancouver is named the world's most Reputable City. That's pretty awesome, wouldn't you agree? Read Full Article
The Vancouver Special: A template for Chic Living
Who would have guessed the cookie cutter Vancouver Special would one day be one the hottest & chic homes amoung Vancouver's high end housing stock. Vancouver Heritage Foundation’s Vancouver Special Tour Saturday, featured a few of the lovely and updated homes. Check out our Vancouver Special home for Sale HERE. Read Full Article
Vancouver's Million Dollar Question: What Sells?
What Sells? Well, the most important thing is to price the house right to begin with. If you are in a market that is slow, and it’s a buyer’s market, and there’s inventory, you have to be under it, not at it. As a seller, you can list it too high and become part of the inventory or, you can price it according to this market. Read Full Article
Vancouver's Coolest Emerging Neighbourhoods
What are some of Vancouver's coolest emerging neighbourhoods? Chinatown and Crosstown are listed are up and coming neighbourhoods to check out. Read more about what these emerging neighbourhoods have to offer: Read Full Article
High Time for more Low-Rises
Low-rise projects in Vancouver offer modernist architectural values that respect the surrounding built-and-social environments in a way that the city’s growing number of cookie-cutter towers do not. Read Full Article
Feng Shui: A mystic force in Vancouver Real Estate
The ancient Chinese practice of feng shui, which is about creating a harmonious environment and the study of surroundings, can have a major impact on a sale in the Lower Mainland. Read Full Article
Vancouver Condo Prices expected to drop as average Canadian prices rises
A new condo reports that Vancouver is the only city where condo prices will drop as other Canadian city prices will rise. Read Full Article
Bob Rennie: Vancouver Housing Bubble Fears Overblown, Real-Estate Marketer Says
See what Condo Guru, Bob Rennie have to say about Vancouver being the least affordable place to live: Read Full Article
Bosa Properties launches first charging station in North America
A high performance charging stating, BosaVault will be added to all Bosa Properties. This is the first of its kind in North America. Bosa home owners can now have their own private charging stations. Very green! Read Full Article
As Canadian Condos get smaller, Furniture is shrinking to fit
The condo boom with lifestyle changes and denser cities are revolutionizing the furniture industry adding a growing demand for more compact, space-efficient, multi-use furniture.
Read Full Artilce
Immigration and Age Growth will Spur BC Housing Demand
Despite reports of a Housing Correction, CIBC economist predicts immigration and the aging population will affect the housing demand in BC during the 2012-2022 time frame. Read Full Article
Surrey named one of top five real estate investment cities in Canada
The City of Surrey has been named one of the top five real estate investment cities in Canada by Business Review Canada. Read Full Article
Can Vancouver's anti-stink bylaw pass the smell test?
Stop the smell. Metro Vancouver is planning to give the public their first look at a new “odour emissions control” bylaw, after numerous East Vancouver residents complain of revolting smells. Read full Article
Vancouver once again the world's third most live-able City
Vancouver has once again taken home the bronze as one of the world’s most livable cities, with crime and traffic congestion continuing to slow the city down. The city ranked No. 3 following Melbourne and Vienna, according to the 2012 report from the Economist Intelligence Unit. Read Full Article
Life thrives after the Games in Vancouver's Olympic Village
Once considered a ghost town, Vancouver's Olympic village is suddenly coming to life! See what's new: Life thrives after the Games in Vancouver's Olympic Village
Five Reasons why falling house prices are not so bad
There are some good reasons why a decline in houses prices won’t be so bad. Take a look at five of them in this article: Five Reasons why falling house prices are not so bad
Rising Sea Levels throughout Metro Vancouver putting Landmarks at Risk
Vancouver is at risk of losing landmark communities like Granville Island and False Creek unless the city starts taking measures to defend its shoreline against rising sea levels, an urban planner warns. Read full article: Rising Sea Levels throughout Metro Vancouver putting Landmarks at Risk
Vancouver Eyes New Affordable Housing Ideas
The City of Vancouver is considering some bold new ideas to try and solve its affordable housing crisis. Read more about the creative ideas on how to make housing more affordable in Vancouver: Vancouver Eyes new Affordable Housing Ideas Watch Video.
Vancouver's Oakridge proposes major expansion
The owner of Vancouver’s Oakridge Mall is proposing a major expansion of the 56-year-old shopping centre that would transform the 11.5-hectare site into more of a community.
Read Full Article
Stricter Mortgage Rules come into effect this month
Stricter Mortgage Rules such as shortening the amoritization period to 25 years from 30 years, comes into effect this week. Learn more about it here: Stricter Mortgage Rules comes into Effect Today
Read Full Article
Condo Rich Toronto + Vancouver face 15 Per Cent Decline
TD Bank economists says, "The housing markets in Toronto and Vancouver are likely to pull back by about 15 per cent in the next two to three years."
Read Full Article
New Urbanists debate Merit of Glass Towers
A significant feature of Vancouver's urbanism was put on trial recently. One of the godfathers of the New Urbanism movement charged that highrises, especially Vancouver's ubiquitous glass towers, are a fundamental mistake and alienate people from their community. What do you think?
Thinking Outside the Real Estate Box
Modular homes are becoming contemporary, energy smart, and a modern way of building new homes. With it's unique architecutre, modular homes uses factory-built technologies to speed up construction, while architects deliver open, multi-use spaces to de-clutter and create strong connections to the outdoors.
What do Condo Buyer's Want?
Apparently, more single women buy than single men; and more men than women want a newly constructed condo. Women are more likely than men to look for environmentally friendly features and a balcony.
[Read Full Article]
Joint Mortgages can help increase buying Power, but comes with Complexities
Thinking about getting a joint mortgage? Although joint mortgages can help increase buying power, there can be complexities. Partners should enter with eyes wide open and a solid legal agreement. If done properly with understanding of obligations, joint mortgages can be a great way to get into the market.
Telus Vancouver Condos Fly off the Market
Telus has sold out the first condo development it has ever built, before a planned formal launch in mid-April, making it the second large Vancouver project to sell out almost instantly in the past month. Local sellers all say that it’s not foreign investors driving the market, but local investors and people planning to live in the condos themselves.
Burnaby on Pace for Blistering Growth Spurt
The Burnaby skyline is about to be transformed. The city is looking at plans to raise skyscrapers in Metrotown possibly as high as 59 storeys, with plans for more major towers to sprout over the next few years. Read Full Article: Burnaby on Pace for Blistering Growth Spurt.
[Read Full Article]
RBC Raises Mortgage Rates, Signals End to Price War
Royal Bank of Canada, the country's largest mortgage lender, is increasing its rates. The move is a sign that the mortgage price war could be drawing to a close as banks seek to reinflate their profit margins.
BMO & CREA Offer Tips for Buyers & Sellers
With the busy spring house hunting season only weeks away, BMO Bank of Montreal and The Canadian Real Estate Association are recommending that house hunters get a head start on planning. Buying and selling your home can be one of your biggest financial decisions. REALTORS are licensed professionals who can walk you through every step of the process. One of the first steps is to get preapproved for a mortgage.
North America's Tallest Wood Building to be Built in BC
B.C. is moving ahead with plans to build what is expected to be the tallest wood building in North America and possibly the world. Engineered wood skyscrapers of up to 30 storeys can be safely built using this new wood technology. Read Full Article: North America's Tallest Wood Building to be Built in BC.
[Read Full Article]
Skyrocketing House Prices Bound to come down, BMO Head says
BMO Chief executive says that soaring household debt levels are highlighting the need for a soft landing in the residential real-estate market. As a way of tightening lending, he supports a move toward shorter amortizations on mortgages in Canada to reduce consumer exposure to debt. Read Full Article: Skyrocketing House Prices to come down, BMO Head says.
[Read Full Article]
Hot Vancouver Real Estate
Sat, Mar 17 - People lined up to buy into a pre-sale condo project along Vancouver's Canada Line. The city's real estate market is once again gaining momentum. Watch the video HERE.
Home Ownership becoming more Affordable
Housing affordability is improving in Canada as home prices soften, while low interest rates through this year should continue to keep costs at bay.
[Read Full Article]
B.C. Home Prices to Drop Sharply this Year
According to the quarterly forecast this year by the Canadian Real Estate Association, BC Home Prices are expected to go down before slightly rising again in 2013. CREA’s chief economist, said the main reason for B.C.’s forecast price decline is because multi-million-dollar sales activity in West Vancouver, Vancouver’s westside and Richmond in early 2011 caused both the provincial and national average prices to temporarily spike, a phenomenon that’s not expected to repeat itself this year.
A plan to behead Vancouver’s Urban serpent: The Georgia Viaduct
Eliminating the viaduct could not only create more space for housing and parks, but could weave disparate neighbourhoods into a whole new community. Lead by the city's former head of planning and former councillor, the pair aim to show how replacing the viaducts with pathways of parks, could link historic neighbourhoods in the downtown eastside to the water, and to new mixed-use developments.
Housing market shows Further Signs of Cooling
The Canadian Real Estate Association says the country’s real estate market is “stabilizing,” as it reported the sharpest slowdown in demand in almost two years.
Vancouver Housing Starts Up 8% in January: CMHC
According to the Canada Mortgage and Housing Corp. (CMHC) there were 1,555 housing starts in the Vancouver census metropolitan area (CMA) in January 2012, compared with 1,436 in January 2011.
[Read Full Article]
Banks Rolling Back Mortgage Discounts
Canadian banks pull back on the historic low rates they rolled out in January.
Housing Bubble is really a Balloon
It's not a bubble, it's a balloon! Canada's housing market is expected to deflate slowly rather than pop, according to BMO Capital Markets chief economist Sherry Cooper.
Year of Dragon Heats B.C. Real Estate Market
Vancouver is seeing big things, especially in Real Estate, thanks to the Lunar New Year, which is typically a great time for sales. Lunar New Year is usually considered a good time for big changes and big buys for Asians, but this year more so because 2012 is the year of the Dragon.
[Read Full Article]
Vancouver is Second on Most Expensive Housing Market Survey
In a new survey on housing affordability, from 325 metropolitan areas worldwide surveyed, Vancouver was ranked as the second least-affordable housing market in the world coming in after Hong Kong and replacing Sydney's rank from last year. Ouch.
Vancouver Condo market still going Strong, despite Slump Forecast
Although some Canadian banks predicts that Vancouver's Condo market might be heading for a slump, we are seeing otherwise. There has been a steady number of Condo sales recently in Greater Vancouver. With interest rates so low, why wait?
Vancouver 'micro-lofts' billed as Smallest in Canada
Bigger is not always Better (We're talking about Condo Size). Vancouver's Micro-Lofts measure less than 300 square feet, the smallest suites in Canada. All suites have space efficient design and energy efficient lighting.
Cambie Corridor plans puts Vancouverism to the Test
New development, the Cambie Corridor plan, around Oakridge Mall and southern end of Cambie Street near Marine Drive will help address the city’s “urgent housing needs.” The new housing will benefit young people and young families, and the “over-65s.” The vision is to create a complete and sustainable community.
Forecast | 'Modest' growth in area real estate prices for 2012: CMHC
2012 is off to a busy start, but what can we expect throughout the year? Canada Mortgage and Housing is forecasting a rise in just two per cent in Greater Vancouver's real estate prices in 2012. "It's a pretty stable market out there." Read more about what expert forecasts for Vancouver real estate in 2012: [Read Full Article]
$37.2-million Point Grey Palace linked to yoga-royalty Lululemon named Most Expensive Home
Must be nice to own the most expensive home in Greater Vancouver. Looks like Lululemon is doing very well. A mansion in Point Grey Rd., with views of the Strait of Georgia and Bowen Island has the highest assessed value in Metro Vancouver at $37.2 million and is linked to founder of Vancouver’s Lululemon Athletica Inc.
Experts weigh in on Metro Vancouver housing market forecasts for 2012
What do experts have to say about Metro Vancouver's Housing Market in 2012? Well, in general for most places, things are going to look like 2011. Maybe a little bit slower. The national housing agency predicts a moderate growth in demand for new and resale homes in the Lower Mainland because of the region’s growing population and steady job market.
Canada's real estate outperforms globally: Report
Canada is at the top of the 10 countries included in the report. Five countries — the U.S., the U.K., Ireland, Spain and (to a lesser extent) Italy — show average house prices significantly lower than their peak values, while the other five countries — Canada, Australia, France, Sweden and Switzerland — still show average prices at or near record highs.
Canadian Real Estate Becoming More Affordable
Owning your own home became slightly more affordable in the third quarter of 2011 thanks to continuing low interest rates, according to RBC's latest study on housing affordability.
Canadian Housing Market to Remain Sort of the Same in 2012
Canada's national housing agency says the housing market has flattened out and will likely stay pretty close next year to where it is now, in terms of new housing starts and resales.
Metro Vancouver Real Estate Prices Up 7.5 per cent Year over Year
According to REBGV's latest monthly reports, home prices in Metro Vancouver have increased 7.5 per cent in October 2011 from October 2010, which is sharply higher but much lower than September 2011.
Vancouver Housing Market Expected to Slow Down During Winter
No one really knows what the market will do, but traditionally, the fall and winter seasons have resulted in a slow-down in the market as families buckle down for the school year and weather patterns make buyer tours less pleasant. Because there are fewer buyers, many sellers decide to pull their properties off the market, which results in less supply to offset the drop in demand.
Vancouver Developer, Listraor, becomes the First to Harness the Power of Social Input to Sell Homes
Vancouver developer, Listraor, launches Westridge Living Interactive Online Open House, Canada’s first live virtual real estate tour. This innovative approach will allow potential buyers to attend Westridge Living's Open House exclusively online from the comfort of their own home or office from anywhere around the world. A live real estate agent will act as a guide and be able to answer any questions in real time! Visit http://www.WestridgeLiving.ca/ for more information and to arrange your online viewing appointment.
New Housing Sales Stall over Transition out of HST
New home sales have slowed in recent months thanks to the HST, according to reports. With no transition rules, it is uncertain what the PST will or will not apply to when it is reinstated in 2013. However, McAllister had advice for prospective homeowners in their 20s who are questioning whether they should wait for prices to come down. Don’t wait, he said; borrow from mom and dad.
Canadian Existing Home Sales Up 2.7 Per Cent in September
Sales of existing homes in Canada picked up in September after three months of stable activity, led by strong sales in Toronto, the Canadian Real Estate Association (CREA) said on Monday.
BC Home Sales Jump Almost 9 Per Cent Compared to September 2010
BC home sales climbed nearly 9 per cent in September year-over-year and the average price rose 6 per cent to $524,000.
Selling Price of New Homes Drops in Metro Vancouver in August: Stats Can
While prices were up across much of Canada as 16 of the 21 metropolitan areas surveyed experienced an increase, pulling the index up by 0.1 per cent overall in August, the selling price of new residential homes has dropped in Metro Vancouver by 0.3 per cent.
Canadian housing market immune to global turmoil in August
The Canadian Real Estate Association's August resale housing report showed a modest rise in prices and steady sales of resale houses in Canada. These recent numbers indicates a return to a balanced state for the real estate market. Scotiabank economist, Adrienne Warren says, "It's nice to see prices cooling off a little bit, yet not falling terribly either, It's a fairly ideal market at the moment."
Why I Love Social Media
If you’re not promoting your real estate business with social media, you are really missing out on some amazing opportunities to grow your network. Social Media is a two-way street. You get real estate news and other information from Twitter and Facebook. It can really help you stay connected to the community and on top of industry trends.
BC's Home Sales: Property Values to Slow as Job Growth Declines
BCREA says, Slower job growth in British Columbia's economy will mean slower increases in home sales and property values through to 2012. On a positive note, however, weaker global economic growth and uncertainty in world financial markets are signals that interest rates, including mortgage rates, will remain low and "help underpin housing demand."
BC Voters Opt to Scrap HST
Elections BC announces, 54.73 per cent of people voted to scrap the HST, meaning the province will now begin a transition back to the former PST. The transition away from the HST will take between 18 months and two years to complete and will cost the province about $3 billion!
BCREA Housing Forecast Update
The British Columbia Real Estat Association's 2011 third quarter housing forcasts, "Moderate growth in housing demand through 2012." Moderate consumer demand and a larger that ideal new home inventory is expected to keep housing starts relatively unchanged this year.
Housing Correction Not in the Cards, according to CMCH report
CMHC projects that despite a slowing in the second half, average resale prices will deliver an overall increase in 2011, and continue to rise, at a more modest pace, in 2012. For BC, the expectation is for prices to move more moderately through the rest of 2011 and for housing starts to stay steady before rising again in 2012.
Banks Move to Bump up Mortgage Rates
Some Canadian banks are hiking their variable mortgage rates, seeking to pump up its profit margins as it becomes evident that interest rates will remain low for some time to come.
RBC: Canadian Homes Less Affordable in Q2: Vancouver Mainly to Blame
Housing in Canada became harder to afford in the second quarter, with Vancouver's pricey market playing a major role in the deterioration, according to a report by Royal Bank of Canada.
Canadian Housing Just Keeps on Ticking - BMO
"Canadian housing remains surprisingly robust, thanks to still-low interest rates and solid job growth," according to Douglas Porter, Deputy Chief Economist, BMO Financial Group.
B.C. Sales Stall in July, but Drop in Interest Rates could Reignite Activity
British Columbia suffered a major dip in home sales during July, but the situation could get better if interest rates drop, according to a new report by the British Columbia Real Estate Association (BCREA).
Drop in Home Sales could Signify Cost Rise Ahead: Experts
Vancouver’s July drop in home sales could be the turning point to a trend in rising housing costs, British Columbia Real Estate Association says.
Vancouver Gets a New Faux Summertime Beach
People who are too busy to trek to a beach this summer can go to Picnurbia, a new 'pop-up park' in downtown Vancouver, complete with umbrellas, artificial yellow turf and benches.
Metro Vancouver Building Permits leap more than 42 per cent
Statistics Canada reports "The value of building permits issued in Metro Vancouver jumped by more than 42 per cent from May to June, almost entirely due to multi-family residential permits." Read Full Article: Metro Vancouver Building Permits leap more than 42 per cent
[Read Full Article]
Housing Bubble Fears Over-Inflated
The average resale price in Vancouver is skewed due to trading of expensive homes in upscale neighbourhoods; however, the lower end favours buyers. The market is also softer in more affordable areas such as Coquitlam, Port Coquitlam and Port Moody, which has lost some market share over the past year.
Bank of Canada: Interest Rate Hikes will likely be Gradual
A day after raising expectations it would increase interest rates soon, the Bank of Canada said it might keep rates below their normal long-run levels even after the Canadian economy is back to full capacity, and future rate hikes would likely be gradual.
Big Wooden Structures Face Touch New Fire-Code Regulations
Len Garis said he spearheaded the development of new guidelines because of concerns raised by several devastating residential construction fires in wood-frame buildings in the Lower Mainland.
Canadian Home Sales Up 2.6 per cent in June
Canada Mortgage and Housing Corp. reports that the seasonally adjusted annual rate of housing starts was 197,400 units last month, which is up 1.7 per cent from a revised 194, 100 units in May. However, monthly sales declined in Vancouver and the nearby Fraser Valley.
Condo Rebound pushes New Home Construction Higher
According to Canada Mortgage and Housing Corp's numbers, the number of single family homes are declining while the number of condominiums are rising. The region's overall housing starts have returned in a big way from Vancouver builders building condominiums.
CIBC, BMO Follow other Major Banks in Raising Mortgage Rates
CIBC and Bank of Montreal announced last week that they will be raising their mortgage rates. CIBC raised their rates on fixed-rate mortgages, as well as other major banks in Canada.
Asian Buying of Vancouver Real Estate Underestimated: CIBC
While new data suggests that Asian foreign investment is not behind inflated home prices in Vancouver, a new report from CIBC World Markets Inc. Thursday argues that flaws in the numbers means foreign activity may actually be grossly underestimated.
Home Sales in B.C. to Rise Five Per Cent
The British Columbia Real Estate Association forecasts that the average residential price in the province will increase 13 per cent to $571,000 this year, before edging back 2.5 per cent to $557,000 in 2012.
[Read Full Article]
Metro Vancouver's Luxury Home Market set to Climb to New Heights
Luxury Homes in Metro Vancouver seems to be more popular than ever! The number of home sales worth more than $3 million are projected to double that of last year.
[Read Full Article]
B.C. Home Sales Edge Down in May, Survey Says
According to a BC Real Estate Association Survey, home sales in B.C. edged down one per cent to 7,857 units in May compared to the same month last year.
Vancouverites Show their Support for Anti-Riot Police Outside Vandalized Bay Store
Vancouver residents show their support following the riot Wednesday night - when Canucks lost to the Boston Bruins - by helping with the clean up efforts downtown Vancoouver and by placing Sticky-Notes of messages of support on wooden posts and police cars.
RBC Touts Lower Loan Rates to Combat Lending Slump
In order to gain more customers and fight the slowdown in Canadian consumer lending, the country's largest Canadian lender, RBC, is marketing a campaign that states lower home-equity loan rates compared to most rivals. Article by Doug Alexander and Sean B. Pasternak, Bloomberg News.
[Read Full Article]
Vancouver's average rent, at $1,181, most expensive in Canada: CMHC Read more: http://Vancouver Average Rent Most Expensive Canada CMHC
According to CMHC, Vancouver was found to have the highest average rents in Canada at $1181. Demand is outstripping supply in the country’s apartment rental market, pushing the national vacancy rate lower and making it more difficult for renters to find accommodations.
[Read Full Article]
B.C. Housing Starts Jump in May; Canadian Figures Up Slightly
Home construction starts in Canada rose slightly more than expected in May, with B.C. recording a one-third increase in starts over April. Article by Brian Morton, Vancouver Sun.
[Read Full Article]
9 Reasons to Buy a House Now
The next few months may be the best time to buy a home. Click the link to read up on the nine Real Estate trends that suggest why you should get into the housing market sooner than later.
[Read Full Article]
B.C.'s Non-Residential Building Permits Plunge in April
A recent survey by Statistics Canada reports that the value of building permits plunged more than expected in Canada in April, which was led mostly by a big drop in Ontario activity and for B.C., a decline in the non-residential sector. Article by Brian Mortan, Vancouver Sun.
[Read Full Article]
Metro Vancouver Home Starts, Sales to Increase this Year and Next: CMHC
According to a report released by Canada Mortgage and Housing Corp, home sales for existing and new home construction in Metro Vancouver will grow this year and next year. Article by Brian Morton, the Vancouver Sun.
Canadian Housing Prices Risk Slide: Report
A report released Wednesday, warns that the current global economic rebound from the 2008 crisis could stumble and cause Canada's housing market to face a risk of sliding prices. Article by Peter O'Neil, Postmedia News.
Curvy Shapes Create a Cozy Room, Happy People: Study
People react more positively to, and prefer to socialize in, spaces filled with curvy forms and shapes, as opposed to rectangles, according to a new study from Oregon State University.
Rising Wealth Drives Improved Demand for Luxury Homes Across Canada
Demand for luxury homes across Canada, especially in Metro Vancouver, is rising! The main reason is with the improved financial standing of wealthy Canadians - according to a report released Wednesday by Re/Max. Foreign investment also a major factor in Metro Vancouver, which showed greatest rise in sales
Vancouver Homes More Expensive than New York or London
Expensive home sales in Metro Vancouver have skewed average sale prices upward for B.C. and Canada. Buyers from mainland China are leading a wave of Asian investment.
Home Sales Soften in April
Sales of existing homes fell by seasonally adjusted 4.4 per cent in April from the previous month, the Canadian Real Estate Association said Tuesday.
[Read Full Article]
StatsCan: New Home Prices Unchanged in March
New home prices in Canada were unchanged in March following a 0.4 per cent increase in February, marking only the second flat reading since August 2010, according to Statistics Canada data.
[Read Full Article]
B.C. Home Sales Down 14 per cent in April, BCREA
Home sales in B.C. dropped 14 per cent to 7,187 units in April compared to the same month in 2010, according to statistics released Thursday by the B.C. Real Estate Association (BCREA).
[Read Full Article]
Canadain Building Permits Soar to a 4 year high in March
As intentions for multi-family dwellings more than doubled, Statistics Canada reports that the value of building permits issued in Canada jumped 17.2 per cent in March from February to the highest level in almost four years!
[Read Full Article]
What's next for Vancouver's Hot Housing Market?
The price of a “standard” two-storey house in Vancouver and on the north shore jumped 10 per cent to $1.1-million in the first three months of 2011.
[Read Full Article]
Canada's Home Resale Price Rises in February, Report Says
Canadian home resale prices rose in February for a third consecutive month, buoyed by continued strength in Vancouver, according to a report.
[Read Full Article]
The New Real Estate Protectionism is Misguided
Buyers from Mainland China are a driving force in our real estate market. In meccas like Richmond, 98 per cent of the hundreds of homes sold are to buyers who are Chinese. Even in White Rock, 35 per cent of a new condo tower were sold to buyers from Mainland China.
[Read Full Article]
Average Price of B.C. Home Up 15 per cent from Last Year
The B.C. Real Estate Association reported in a news release today that the average price of a home in B.C. rose 15 per cent from March of last year to March of this year.
[Read Full Article]
BMO Survey: Home Buyers Value Price and Location over Resale Value
A Leger Marketing survey done for BMO Bank of Montreal shows that the majority of B.C. residents planning to buy a home in the next two years value the price and location of the property (94 per cent and 91 per cent respectively) over resale value (66 per cent).
[Read Full Article]
Canadians under the age of 35 are most intent on buying homes: Survey
According to a survey released Thursday, Canadians younger than the age of 35 are the most intent on buying a home over the next two years.
[Read Full Article]
Get a Lock on Mortgage Rates
If you are nearing the end of your fixed-rate term, it may be better off paying early exit penalties and securing a new deal.
[Read Full Article]
Poor Workmanship Plagues Former Olympic Village
Check out this video on you tube of residents showcasing the poor workmanship and planning of their condos and towers in the old Olympic Village.
Click on the Image to view or follow the link: http://www.youtube.com/watch?v=WYnP4Cs6rgE
Royal Bank Cuts Mortgage Rates
The Royal Bank of Canada slashed residential mortgage rates by as much as 20 basis points on several of its offerings on Tuesday.
[Read Full Article]
B.C's Average MLS Price up 18 Per Cent in Feruary: BCREA
According to the BC Real Estate Association MLS prices are up 18 per cent in February 2011.
[Read Full Article]
B.C Housing Starts Fall 5.9 per cent in February
Home construction edged up more than expected in February, however higher mortgage rules and higher lending rates may dampen building activity in the upcoming months.
[Read Full Article]
Canada's Hot Housing Market to Cool Down: BMO Report
According to a new report from BMO Capital Markets, Canada's hot housing market should cool down somewhat this year. Growing incomes are also expected to offset costs associated with rising interest rates.
[Read Full Article]
Median Home Price in B.C. to Hit Record High of $402,000 this year.
According to Central 1 Credit Union's B.C. Housing Forecast, the median price of a B.C. home is expected to rise and set a new record high of $402,000 this year!
[Read Full Article]
Average B.C. Home Price to Hit $517,000 this year: BCREA
The B.C. Real Estate Association forecasts that the average price of a home in B.C. will increase 2% this year to $517,000.
[Read Full Article]
BC Housing Starts to Trend Higher in 2011, 2012: CMHC
Canada
Mortgage and Housing Corporation forecasts in its Housing Market
Outlook that Housing starts in British Columbia will trend higher over
the next two years.
[Read Full Article]
The Village on False Creek (New Pricing)
New Pricing released for the Village on False Creek, formerly known as Olympic Village.
[Read Full Article]
Strong Demand for Olympic Village Condos Stun Realtor
Bob Rennie speaks on the pending price release for Olympic Village, as well as, his surprise at the already buzzing village. With more than 400 people through the show suites and 31 offers even Rennie himself is shocked at the market.
[Read Full Article]
Olympic Village Condos to go to Market- Again
Jeff Lee of the Vancouver Sun speaks with Bob Rennie on Olympic Village condos and their third try at resale.
[Read Full Article]
Gains in Metro Vancouver Housing Outpaced TSX Since 2000
Once again Metro Vancouver Real Estate proves to be a solid investment. With 7.8 per cent annual returns from 2000 to 2010 analysts believe these numbers will be hard to match in the coming years.
[Read Full Article]
Real Estate Market Calm Expected to Follow Hectic 2010 in Metro Vancouver
Cameron Muir, chief economist for the B.C. Real estate Association expects to see a more stable market this year with a six to seven percent increase in housing sales compared to last year.
[Read Full Article]
Metro Vancouver Resale Price Indicates Sellers' Market in November
Speculation that Vancouver is moving into a sellers' market has been confirmed by numbers from the National Bank Composite House Price Index.
[Read Full Article]
Sweet Scent of a Successful Home Sale
Are you selling your home? Easy tips for avoiding odors that could scare away future buyers.
[Read Full Article]
Checklist for an Open House
Handy tips to draw in potential buyers by maximizing your open houses potential.
[Read Full Article]
Metro Vancouver Property Values Jump, especially in Richmond
B.C residential property assessments have jumped considerable amounts since last year. Richmond had an increase of 17.14% where Vancouver increased 12.17%. Realtors suggest that the RAV line and easier transportation has made a difference.
[Read Full Article]
Debt Fears Overblown, says Mortgage Industry
Newest changes for Canadian mortgages made by the Bank of Canada cause questions regarding Canadians debts and loans.
[Read Full Article]
Home Sales Rises in November as Stable market Continues
November stats are in! The president of the Real Estate Board of Greater Vancouver feel the stats represent a balanced market. With a 12% decline in listings this month the supply vs. demand is starting to ease us out of a buyers market.
[Read Full Article]
Canada Home Resales Climb for Third Straight Month
Existing home sales in Canada rise for the third straight month. Canadian Real Estate Association says there is further evidence that the market is retuning to normal."
[Read Full Article]
Olympic Village to Return to Market at Significant Price Cuts
Olympic Village will be back on the market Feb. 12th, 2011 with significant price cuts Rennie states. Although, pricing was supposed to be established publicly this week it hasn't been approved by the court appointed receiver, Ernst & Young as of yet.
[Read Full Article]
Olympic Village Receivership Brings Stability, Benefits Taxpayers
The latest update on Olympic Village and the City of Vancouver's/Millennium Properties decision to appoint Ernst and Young as receivers.
[Read Full Article]
Millennium Water Goes into Receivership
Mayor Gregor Roberston announces that Millennium Water and the city have come to an agreement with the Olympic Village development. After two months of negotiations it was decided that Ernst& Young would take over receivership.
[Read Full Article]
CREA Slashes Forecast for Canadian Home Resales
The Canadian Real Estate Association predicts the resale housing market will drop 4.9 per cent in 2010 to reach 442,200 units. Chief economist for the CREA, Gregory Klump, believes the "housing demand and supply is stabilizing" and that interest rates will remain low.
[Read Full Article]
Housing Starts up in Metro Vancouver Over Bleak 2009
Brian Morton of the Vancouver Sun discusses how although, Metro Vancouver has seen a "sharp increase in housing stars this year", these numbers are deceiving as 2009 was "particularly bleak." Using October 2010's market statistics, Morton is able to compare the differences in markets from 2009 to 2010.
[Read Full Article]
Luxury Home Market Booming in Metro Vancouver
Writer Derrick Penner, for the vancouver Sun talks about the interest that Vancouver is seeing in the luxury housing market. Elton Ash, Re/Max's executive vice president, stats that "the luxury home market is staying fairly strong."
[Read Full Article]
New Home Prices Still Climbing
Vancouver housing market gets a slight boost, with news from Statistics Canada that housing prices continue to climb. Chief economist of TD Canada, Craig Alexander believes the "overall housing market is showing signs of stabilizing." Other local real estate professionals, believe that prices won't fall to much but we also won't be seeing much movement upward.
[Read Full Article]
Get Your Home Ready to Sell
"Get Your Home Ready to Sell", is a great resource from www.howrealtorshelp.ca. Check out other helpful links on this site as well, such as, "Is Now a Good Time to Buy or Sell", "House Hunting Checklist", Mortgage Calculators, and how realtors help.
[Read Full Article]
B.C Real Estate Sales Beat Previous Month in September
The Vancouver Sun reporter, Derrick Penner discusses September's Vancouver market stats and the slight increase in sales from August, 2010.
[Read Full Article]
B.C. Home Prices to Rise this Year Before Falling in 2011: Report
Brian Morton with the Vancouver Sun reports on the changes in the Vancouver real estate market and what we can expect to this throughout 2011. Central 1, states that Metro Vancouver prices are forecasted to rise eight per cent in 2010 and drop five per cent in 2011.
[Read Full Article]
Fall Housing Market to Improve After Summer Slowdown: Re/Max
Canadian real estate firm, Re/Max released a statement estimating that this fall we will see the real estate market and MLS listing numbers return to "more normal conditions." Although, we will see some improvements this fall, the market will unlikely be returning to the "brisk pace seen late last year."
[Read Full Article]
Metro Vancouver, Fraser Valley Home Sales Up in September, but Sharply Down From A Year Ago
Two reports released Monday, state that the Metro Vancouver and the Fraser Valley's "September sales were slightly ahead of August sales but considerably down from a year ago." Brian Morton, of the Vancouver Sun goes on to discuss Vancouver real estate and sales throughout the area.
[Read Full Article]
MLS Real Estate Deal 'May Force Out Agents'
Vancouver and other boards within Canada will vote this month on a tentative agreement to allow the public to hire real estate agents for a fee and then carry out a sale process themselves. Although, the media has been portraying this as a new change agents have always had the option to charge whatever they deem appropriate for services. The Times Colonist, discusses how this 'tentative agreement' will affect agents.
[Read Full Article]
Olympic Village Buyers Trying to Back Out of Purchases
Vancouver's condo development Olympic Village, has been in the papers consistently for the past few weeks. With talk about the developer, Millennium Water, missing Septembers payments and the city taking over the development there are many uneasy owners. There are currently over eleven clients being represented by a lawyer trying to nullify there contracts with Millennium Water and two other clients filing court action as reported October 2nd.
[Read Full Article]
Commission- Free Real Estate Network Launches in Canada
A new commission free real estate network launched in Canada Tuesday. The Province discusses any effect this will have on other agencies. BytheOwner.com combines five commission-free real estate companies, who launched with more than 1,200 listings Canada wide.
[Read Full Article]
RBC Waves Red Flag Over Vancouver Housing Market
RBC economist Robert Hogue announces average home prices in Vancouver housing market jump approximately 40% year to year. Hogue also discusses the percentage of family income going to ones mortgage and housing costs in Vancouver.
[Read Full Article]
Vancouver's Home Buyers Take their Time in August
Vancouver writer discusses patterns of Vancouver home buyers through August. Although, the board of Fraser Valley insists that "sellers took as much of a break at buyers" Derek Penner, of the Vancouver Sun suggests its a buyers market.
[Read Full Article]
Vancouver Real Estate 'Bubble' an 'Accident Waiting to Happen'
Norma Greeaway, reports from the Vancouver Sun on the need for smart mortgage rate setting, to prevent the bubble hanging over the BC real estate markets. The housing markets in Vancouver and throughout Canada are seeing prices increases over the 'historic comfort levels' and some wonder if a 'bubble burst' is in the near future.
[Read Full Article]
Building Boom Expected to Slow
Building boom may be up for the short team but is expected to slow in the long term says columnist James McLeod. CREA believes the pre-HST boom was due to the misconception that you could save tax by buying prior to the tax change. Although, HST did not change anything for residential sales, the hype seemed to be enough to increase sales. Posted August 17th, 2010 by James McLeod, The Telegram
[Read Full Article]
B.C. Bucks National Trend with Higher Home Starts B
VANCOUVER — A post-HST bump in
construction increased British Columbia's pace of new-home building in August
countering a national trend of slower new-home starts, Canada Mortgage and Housing
Corp. reported Thursday.
[Read Full Article]
Metro Vancouver Housing Market to Slow More Than Expected: CMHC
Vancouver Sun writer, Derek Penner, reports on Metro Vancouver's housing market and how HST and expected rising mortgage rates will effect the housing demand. Canada Mortgage and Housing Corp. predicts that growth in population and gradual economic recovery will aid in helping a stable market throughout 2010.
[Read Full Article]