Real Estate Blog

The province’s mayors and councillors brought a sharp new focus Thursday to finding effective ways to cool intense foreign and domestic speculation in housing. The Union of B.C. Municipalities announced 32 recommendations designed to fix the home ownership and rental crises that have devastated many residents of Metro Vancouver. “B.C.’s housing policies are no longer working,” said Port Coquitlam Mayor Greg Moore, chair of the Metro Vancouver regional district. He emphasized how the development industry’s push to solve housing unaffordability by building more units has failed to curb out-of-control house prices and rental costs.

Original news retrieved from Vancouver Sun
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When a lawyer is standing in front of a judge clutching an emergency motion, the case rarely concerns a real estate deal gone wrong. But Toronto-based lawyer Albert Frank recently raced to the courthouse to untangle a real estate twist he'd never before encountered in 30 years of practice. Mr. Frank was representing a couple who sold their three-bedroom house in Markham, Ont. Three weeks before the closing date of Sept. 28, the buyer's lawyer let the sellers know his client did not plan to close the deal. She also wanted her $50,000 deposit back.

News originally retrieved from The Globe and Mail
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The housing market in Calgary this year will likely look much like it did in 2017, according to a forecast released Wednesday by the Calgary Real Estate Board. CREB's 2018 forecast says stricter lending criteria introduced this year by Ottawa, coupled with slightly higher interest rates, should put downward pressure on prices. That will offset any upward momentum that results from Alberta's continuing recovery from the recent economic recession. "The path to recovery is expected to be bumpy, as the market adjusts to a new normal," says the report, which predicts minimal changes in sales activity in 2018 in the Calgary area.

Calgary Real Estate News

News originaly retrieved from CBC

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Vancouver’s real estate market is “showing a high degree of vulnerability” – for the seventh quarter running, according to Canada Mortgage and Housing Corporation’s (CMHC) latest quarterly report. The January 2018 Housing Market Analysis, issued January 30 and assessing activity in 2017’s third quarter, found that the Vancouver Census Metropolitan Area’s housing market “continues to be rated as having a high degree of vulnerability.” The report continued, “CMHC’s valuation models continue to signal strong evidence of overvaluation as [Vancouver’s] house prices exceed fundamentals [such as local income and economic growth].”

Vancouver's real estate market

News originally retrieved from Vancouver Courier
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Canadian real estate prices were the fastest rising in the world just a few months ago. Now we're claiming the opposite title, as the market explores where prices should be. Newly released Federal Reserve Bank of Dallas (Dallas Fed) numbers show a decline in home prices for the third quarter of 2017. This is the first time in over five years that Canadian real estate prices have declined for a quarter. Despite the quarterly decline, prices still remain significantly higher than the year before.

Canadian Real Estate

Original news retrieved from Huffpost

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Just when you think you’ve found out everything you need to know about how to hire the right real estate agent, someone or something will give you their “two cents” worth of info and have u guessing all over again! Here are 8 common misconceptions to remember when deciding on whether to use an agent or not.

 1) Real Estate Agents are Always Late for Appointments.

There is no excuse for habitual tardiness among professionals. ZERO!!!  Every person deserves respect, and respect is earned by providing what is promised and being on time. If your agent has a god-like, self-deluded impression of her or his own importance, find another. Although I do know and hear of some agents being tardy, myself and the agents I know have no use for it. Don’t let a

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Features that Pet owners should look for when house hunting

It’s no surprise that home designers and builders often plan homes with pet friendly amenities in mind.  The Canadian Veterinary Medical Association reports that approximately 38% of Canadian households have a car or dog. It’s not just a matter of being pet friendly, but rather a question of giving your pets environmental enrichment.

Here are some pet environmental enrichment features to look out for:

  • Private spaces and play areas
As you walk through the home, take note of private areas that can be used to house a cat litter box. Rooms or nooks that are accessible to your cat but still isolated enough that odor won’t be an issue are ideal. And look for other areas around the…
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Do rising interest rates mean you have to jump head-first into a home search if you’ve been on the fence? Interest rates are only one component to consider when making the decision to buy your first home, so maybe slow your roll a tad. But since we’re on the subject and rates do impact the monthly cost of home ownership, let’s examine what you’ll face if you decide to wait a few years.

Are Interest Rates Rising?

The simple answer is “yes.” The more complicated answer is “Yes, but not in a straight line.” Short-term movement doesn’t really matter to you if you are trying to decide whether to buy now or buy next year; it’s only the long-term trends than count.

Given that the Feds are committed to seeing both short-term and long-term interest rates

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Buying a condo, which is short for condominium, is not the same as buying a single-family home.  There are different considerations that need to be taken into account prior to purchasing!  In many real estate markets, purchasing a condo can come at a much lower price than purchasing a single family residence.

A condo is typically a shared piece of property with individual owners of each “unit” or condo.  In most cases, condominiums offer services such as, but not limited to, fitness centers, tennis courts, and swimming pools.  Many people purchase condos due to less maintenance and also the lifestyle of living in a condominium community.

When buying a condo, it’s important you know that every condominium community is different.  It’s crucial to

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