Quebec Sales Reps Revolting Against Fees

Photo by fPat Murray

Quebec realtors are campaigning against the unexpected large increase in licensing fees, which have to be paid to the Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ), regulatory body controlling licenses, records, disciplinary proceedings, indemnity fund and many other key parts of real estate administration.

The fee went up from $410 to $906 quite unexpectedly, annoying most of the agents. They immediately started petition, collected votes of more than 2000 agents so far, and even held little demonstration at OACIQ offices. You can also join their fan group on Facebook.

Low Cost Condo Experiment in Vancouver

Photo by Tania Liu

Unusual project is being built on 60 West Cordova. It comes without parking spaces, with minimal marketing and with requirement of self-maintenance by the future inhabitants. The goal is clear – to construct condominium affordable for a couple working for minimum wage.

Developer Ian Gillespie situated the 108-unit development, designed by architect Gregory Henriquez, on the border of Gastown and the Downtown, on the neighbouring block to his Woodward’s complex, project that combines condos, social housing and art centre. Lack of parking should both drive down the costs (single downtown parking space costs around $40,000) and keep wealthier households’ interest off.

RE/MAX Raised 100,000 CAD For Cancer Fight

Smile by Romain

Over $100,000 was raised during the Yard Sale for the Cure on May 29, organized by RE/MAX Canada. The sum will be donated to Canadian Breast Cancer Foundation and will help to fund breast cancer research, healthy life style and cancer awareness promotions and training.

Marie Sheppy, Senior Coordinator, Corporate Affairs, RE/MAX of Western Canada: “RE/MAX is wholly committed to the Canadian Breast Cancer Foundation’s ultimate goal of creating a future without breast cancer. It’s a goal we’ve taken to heart and one that inspires. That is why, each year, Yard Sale for the Cure prompts greater participation and creativity, as each RE/MAX office strives to surpass the previous year’s goal. The level of enthusiasm is simply remarkable.”

Campfire Ban Begins

Photo by Kyle Simourd

If you plan to go for a barbecue somewhere around the BC coastal region, don’t forget to pack portable stove – unless you want to face $345 fine. Official ban of campfires starts this Friday at noon.

Authorities were forced to issue this ban due to long period of extremely dry conditions, which substantially increased the risk of wildfires and set fire danger ratings to high or even extreme level. The ban will last until dumper weather comes.

Parking in Vancouver is Cheapest of the Biggest Canadian Cities

Car Park by Steven Lilley

Colliers International has been publishing its survey of parking costs for a decade now. Latest results proved parking business is completely recession proof, at least in Canada.

Average monthly parking expenses climbed all over the country. Calgary is at the top with monthly average $453.38, followed by Toronto ($336.25), Montreal ($280.60) and Edmonton ($275). Vancouver placed 5th; our drivers spend $266.81 on average in June to park their cars. If you want it cheaper, you should probably move to Kitchener-Waterloo (Ontario), where you would spend only $116.94.

Housing starts in June

Actual is not normal
by Kevin Dooley

Canada Mortgage and Housing Corporation released regular monthly report for Canada. According to the latest records, seasonally adjusted annual rate of housing starts reached 189,000 units in June. Moreover, the rate was also revised for two previous months so there are adjusted results for both April and May.

New numbers say we reached 3.7% month over month growth in April 2010 (205,900 starts), while there were 5.1% (195,300 starts) and 3.1% decrease recorded in May and June. Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre, said: "Housing starts decreased during June, largely due to the multiple starts segment in Ontario. The single starts segment was largely unchanged Canada-wide. After a robust start to 2010, we expect the pace of housing start activity to moderate and total 182,000 units by year-end.”

Home Renovations Guide: Part 6

In the previous five parts of our Home Renovations Guide we have explored what to do to enhance the value of your property. In the last part, called Worst Renovation Mistakes, we will mention what not to do and which peculiarities of renovation process to watch out.

Activity steady to start the summer season

The Greater Vancouver housing market experienced steady activity to begin the summer season.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totaled 2,972 in June 2010, a decline of 30.2% compared to the 4,259 sales in June 2009, a 22.6% increase over June 2008, and a 30% decrease compared with June 2007 and a 5.8% decrease compared to May 2010 when 3,156 sales were recorded.

Unemployment in Canada Below 8%

Sunshine and Smiles
by Nana Agyei

Canadian economy again proved its more than solid strengths, when unemployment rate fell below 8% in June, for the first time in one and half year.

According to Friday’s announcement from Statscan, there were 93.000 new jobs created, almost five times more than the biggest optimists expected. Unemployment rate fell to 7,9% instead of expected stalling at 8,1%

Chinese Buyers Hungry for Vancouver Homes

Photo by Lionel Roca

News about China's immense interest in Vancouver properties are brand new, however, this time it looks that buyers take it more than seriously.

China-based Internet sales company SouFun started to organize trips to Vancouver for real estate-hungry groups of wealthy investors. The first two groups from Shanghai and Beijing, consisting of around twenty potential buyers, are about to visit Vancouver and Toronto in August. Needless to say, their interest will focus on million-dollar listings.

Home Renovations Guide: Part 5

We have introduced number of medium scale renovations in previous parts of our Home Renovations Guide.  Renovating your kitchen or turning basement into home cinema will boost the value of your home, but the best cost/value added ratio usually comes from various small scale renovations. Or you can try something completely different - what about adding a pool, or a tennis court?

The fifth part of our guide will tell you more. It's called simply Minor Renovations

New Housing starts Dropped

Push me up by Neal Fowler

Canada Mortgage and Housing Corporation (CMHC) released the May results for housing starts in Canada. The seasonally adjusted annual rate of housing starts reached 189,100 units, while in April the results were over 200,000.

Housing starts decreased in both segments, however this trend is consistent with overall prediction made by CMHC, which estimates 182,000 new unit starts for the year 2010.

In May, urban starts lost 9.5%, reaching 165,200 units in May. The majority of decline happened due to 14.1% decline in urban multiple housing starts down to 72,400 units. The only increase recorded was in Atlantic Canada (+23.3%), while the Prairie region lost 21.8%. Rural starts reached 23,900 units in May.

May market offers buyers greater selection

The number of properties listed for sale in Greater Vancouver continued to rise in May, while the number of sales showed a year-over-year decrease.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totaled 3,156 in May 2010, a decline of 10.4% compared to the 3,524 sales in May 2009, a 5.1% increase over May 2008, and a 27.1% decrease compared with May 2007 and a 10.1% decrease compared to April 2010 when 3,512 sales were recorded.

Home Renovations Guide: Part 4

Second half of our Home Renovations Guide begins at the bottom: in your basement. Do you think buyers prefer mouldy wet dark space full of clutter, or a private gym combined with home cinema, where they spend saturday evenings with friends?

Learn more in the fourth part of our guide, called Renovating Basement.

Quality of Living: Vancouver Ranked #1 in North America

Sunrise over Vancouver Harbour
by Evan Leeson

Annual Quality of Living Survey prepared by Mercer confirmed Vancouver as the city with highest quality of living in North America and the fourth highest in the World.

The top ten was dominated by European cities: Vienna, Zurich and Geneva ranked in the top three, followed by German towns. Besides Vancouver, only Auckland (#4) and Sydney (#10) slipped in. Survey showed Canadian cities are far ahead the US in terms of quality of living: Ottawa (#14), Toronto (#16), Montreal (#21) and Calgary (#28) completed the North America top five. The city with highest quality of living in the USA, Honolulu, ranked #31 globally.