Mortgage brokers and homebuyers across Canada got the relief that many of them have been clamouring for: a change in the qualifying interest rate for insured mortgages. Last week, Minister of Finance Bill Morneau announced changes to the benchmark rate used to determine the minimum qualifying rate for insured mortgages. As of April 6th, that rate […]Read more "Who are the winners with the new qualifying interest rate?"
There are dire warnings that the condo real estate market in B.C. could collapse unless the province steps in to stop it. A representative of a condo owners’ association says recent changes to insurance rates mean that not only are buildings having to pay more for coverage – some are being denied altogether. “This is […]Read more "Insurance issues could cause B.C. condo market collapse, homeowners association warns"
Surprisingly, the highest-priced property to sell last week wasn’t a single-family detached home. Although houses are still in demand across B.C., the most expensive was a three-bedroom, three-bathroom condo in the popular Yaletown neighbourhood in downtown Vancouver. The condo, which was built in 1995, stayed on the market for just over a week before selling for […]Read more "The highest- and lowest-priced homes sold in B.C.: January 12 to 18"
Experts differ on year ahead for B.C. property market, as real estate analyst predicts “rough year” for Metro Vancouver’s single-family homes If real estate investors were to make some resolutions for the new year, analyst Dane Eitel might suggest exercising wariness amid forecasts painting an optimistic picture of the B.C. market. After all, some […]Read more "Detached-home market recovery may be slower than predicted"
Benchmark price ended last year at about $1 million The Vancouver area’s real estate board says the number of home sales last year was up from 2018, but remained below the region’s 10-year average, despite a moderation in prices. The Real Estate Board of Greater Vancouver says the number of sales in 2019 totalled 25,351 […]Read more "Vancouver home sales up in December and 2019; prices down from year earlier"
Last year, real estate pundits predicted that sales in 2019 would rebound after a soft 2018. And they were partially right, although it ended up happening too late in the year for the full-year total to be described as a recovery. So what are the various real estate industry organizations and brokerages predicting for B.C.’s […]Read more "Real Estate B.C. real estate outlook 2020: a forecast summary"
Victoria, Dec. 09, 2019 (GLOBE NEWSWIRE) — Many soon-to-be released property assessments will show a moderating market, with more modest changes in property values compared to previous years based on trends in the real estate market as of July 1, 2019. “We first saw signs of moderation during the 2019 property assessments,” says Assessor Tina […]Read more "2020 Property Assessments Will Reflect BC’s Moderating Real Estate Markets"