Vancouver Real Estate News

Latest real estate news from Vancouver BC and Canada by Jay Banks and his Vancouver Homes team

Why the Foreign Buyers Tax Isn’t Solving Vancouver’s Housing Crisis

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Brenda Kinnear  Legislated into effect on August 2 2016, with the hope that it would cool down the Lower Mainland’s property market, with its sky high prices and empty houses, the Foreign Buyers Tax adds 15 per cent to the cost of BC property purchased by persons outside of Canada. The Foreign Buyer Tax was […]

Vancouver Market in November 2016: Detached Home Sales Dropped

Vancouver Market in November 2016: Detached Home Sales Dropped

It’s a Blue Christmas for detached homeowners across Metro Vancouver. It’s challenging for sellers to become accustomed to the new normal after the historic rise in prices and sales over the past two years. Overall for detached homes the number of sales are down 52.2% from November 2015 while prices are up 23% from November […]

Protecting Your Home Against Weather Hazards in Vancouver

Protecting Your Home Against Weather Hazards in Vancouver

Vancouver is known as having one of the mildest climates in Canada, but that doesn’t mean that homeowners don’t need to worry about Mother Nature. The City of Vancouver lists several situations that homes need to be prepared for including flooding, earthquakes and wind storms. With the large amount of precipitation that Vancouver sees each […]

From Curb to Roof: Tips for Profitable Home Renovations

From Curb to Roof: Tips for Profitable Home Renovations

Despite the hot housing market in Vancouver, for those homeowners who want to maximize their home’s value, a few renovations may make all the difference. The CEO of the Greater Vancouver Home Builders’ Association, Bob de Wit, believes that renovations are a “critical piece of selling a home.” I think that you can do a […]

Real Estate in September 2016: Vancouver’s ‘Brand’ Remains Strong

Real Estate in September 2016: Vancouver’s ‘Brand’ Remains Strong

A day late and a dollar short. The Foreign Buyer Tax will never create affordable housing in Vancouver again. Even with wild price swings a 25-30% drop in price will only negate the increase of the past nine months. The benchmark price for a detached home in Metro Vancouver is $1,579,400, a 33.7% increase since […]

Vancouver Market in August 2016: Buyers Are Hoping for a Big Price Drop

Vancouver Market in August 2016: Buyers Are Hoping for a Big Price Drop

Everyone held their breath to see what impact the 15% Foreign Buyer/Non-resident tax would have on property sales and more importantly on prices. So far the answer is not much change. The sales numbers were declining in the past three months and continued to do so in August. The increase in sale prices since August […]

Vancouver’s Rental Market: The Disruption Called Airbnb

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Airbnb is a classic Silicon Valley startup success. A couple of guys realized people had a hard time booking hotel rooms for an industrial design conference, and started selling nights on air mattresses in their living rooms. They launched a website in 2008, funded by sales of custom-made breakfast cereals, which filled the gap between […]

Vancouver Market Affected by BC Foreign Buyer Tax in July 2016

Vancouver Market Affected by BC Foreign Buyer Tax in July 2016

Before the Foreign Buyer Tax smash-up the market was humming along to another high in July. There was angst about the numbers of sales falling but the prices were still rising. Lower sales numbers reflected fewer listings. July’s sales were 6.5% above the 10-year sales average for the month. Benchmark for a detached home through […]

How to Deal With Bad Neighbours

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Disagreement between neighbours can be one of the most emotionally driven conflicts, and can often escalate very quickly. Sometimes what can seem like a small issue can explode into something much larger. According to Vancouver attorney Christopher Bettencourt: The issues are frequently very difficult to resolve because each party involved in it are dealing with their […]

BC Foreign Buyers Tax Fallout: an Update

BC Foreign Buyers Tax Fallout: an Update

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 […]