Be careful what you wish for, you may get it. An old expression describing unintended consequences. For years now there have been reports from the field, from university professors, real estate companies who deal with offshore buyers that there is a tsunami of foreign money pouring into Vancouver real estate and driving up prices, lowering […]
Madame Machiavelli, aka Premier Christy Clark, has done it again. After years of stating there was no problem she made a volte-face in the Legislature yesterday with a bill to level a 15% tax on foreign buyers of properties in Metro Vancouver which has blown up the real estate market. John Horgan, leader of the […]
The stats commentary is a little late this month mainly because there is a lot of politicking going on behind the scenes of the published data. “June was busting out all over” according to the musical Carousel and the Real Estate Board of Greater Vancouver. The June 2016 MLS Home Price Index for all residential […]
The high cost of buying a home in Vancouver has been well documented. A new trend of refurbishing heritage homes has been developing among would-be homeowners. But is the cost of fixing up an older home competitive to building a brand new home?
May was it’s beautiful self in terms of weather and real estate. All is well in the rear view mirror. Sales were up and so were prices. The benchmark price for all detached properties increased 37% from May 2015 to $1,513,800. Sales volume of all properties would have been higher had there been more listings […]
As the Vancouver housing market continues to sizzle, renters have been feeling the heat, particularly pet owners. We talked to B.C. SPCA Stakeholder Relations Office, Melinda Mennie about […]
Play it Sam. Play it again…..it may not be 1942 in Casablanca but it feels like a war in the Vancouver real estate market. The April stats are just more of the same old story: highest selling April on record, prices for all properties up 25.2% since April 2015, for detached homes a 30.1% increase […]
In March the Metro Vancouver real estate market reported 5,000 sales, the first time it has hit that number. The demand has not eased up although it may be that prices are plateauing at this time. Sellers have the expectation of ever rising prices and are worried about leaving money on the table so are […]
Millennials have been adapting to the rising cost of housing in Vancouver by holding off on buying a home and embracing a “coffee shop” lifestyle, experts say. Vancouver Street and Blossoms by Nick Kenrick I would say that if someone was looking to be a first time home buyer when they are 23 or 24 […]
In February the Metro Vancouver real estate market continued to rack up records on numbers of sales and rising prices. The sales were 56.3% above the 10 year sales average for the month. In Vancouver West the benchmark price of a detached home rose to $3 million (most of which are treated as building lots), […]
Love is all around us in February. It’s a good reminder of how to treat people we meet and how we wish to be treated in return. There has been lots in the news lately of how some in our profession have not been treating the public properly. Although it is not PC to say […]
Such excitement and excuses and hand wringing by the regulatory bodies after the investigation by the Globe and Mail into the cause of the high real estate prices in Vancouver has shown that BC is still the Wild, Wild West in terms of opportunities for unethical practices, money laundering and tax evasion. Since 2010 we […]
As Vancouver housing prices continue to rise, more and more people are turning their attention away from detached homes and towards condos. According to the Real Estate Board of Greater Vancouver, the median price for a detached home in Metro Vancouver rose to $1.2 million last year. In contrast, the average condo was priced at […]
We are on a wild roller coaster ride in the Vancouver real estate market. Right now we are inching up the incline where we are almost at the top…will we plunge down through all the bad economic and world news to soar up the other side to new heights or will the Chinese government derail […]
The Vancouver real estate market is still surging. As investments in energy and commodities go off the rails there is an even stronger demand for both residential and commercial properties in Metro Vancouver.