All Blog Entries by Michael La Prairie

Found 359 blog entries published by Michael La Prairie.

A week after Hurricane Dorian barrelled toward the east coast of Canada, the full cost of damage to homes and properties up and down the Atlantic coast is still unknown. What we do know is that the climate crisis is making extreme weather events like hurricanes more destructive. It’s also significantly impacting real estate markets across Canada.

From wildfires in B.C.’s interior and Alberta to headline-grabbing flooding in Ottawa-Gatineau, Muskoka and New Brunswick in 2019 alone, properties across the country are feeling the heat of the shifting climate. On Canada’s famously vast ocean coastlines, storm surges and sea levels are impacting communities through both shoreline erosion and direct property damage.

As weather becomes more erratic,

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Sales were up five per cent, compared with the same month last year

 

The Canadian Real Estate Association raised its forecast for home sales this year, helped by economic fundamentals and falling mortgage rates.

The improved outlook for the year came as CREA reported home sales in August were up five per cent compared with the same month last year.

The organization said Monday that national home sales are now projected to rise to 482,000 units this year, up five per cent from 2018.

In June, CREA predicted sales to climb 1.2 per cent to 463,000 this year.

“Economic fundamentals underpinning housing activity remain strong outside of the Prairies and Newfoundland and Labrador, the association said.

“More importantly for home buyers

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Canada's housing market has seen some of the world's slowest price growth, but that's already changing.

A global housing slowdown is taking place, and Canada is nearing the very bottom of it.

Canada placed 49th out of 56 national housing markets included in the Knight Frank Global House Price Index, which ranks countries by annual home price changes each quarter.

In the second quarter, Canadian home prices were up only 0.5 per cent compared to the same period last year, according to Knight Frank, a property consultancy headquartered in the U.K.

Poland, which saw prices rise 0.4 per cent on a year-over-year basis, and Brazil and Switzerland, where prices climbed 0.2 per cent, were the only markets that placed lower than Canada while posting

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Residential real estate investment trusts (REITs) are leading the REIT sector this year and apparently see opportunity in the Metro Vancouver market that has spooked most residential investors and developers.

The strategy of investing in income-producing residential real estate is apparently paying off. A Bloomberg surveyreleased  August 15 showed that the average year-to-date return for REITs involved in the residential sector was 18.6 per cent, blowing past projections of 6 per cent year-over-year yields  for the entire REIT sector.

One of the big movers was Vancouver-based Pure Multi-Family REIT, which specializes in high-end rental apartment properties in the U.S. Sunbelt. Formed a decade ago, Pure Multi-Family REIT was sold in July for $1.5

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A new year means new opportunities. It’s the perfect time to look at your business with fresh eyes, try new initiatives, and find ways to build your business over the next year and beyond. We’ve put together five marketing ideas for real estate agents in 2019. Read on to see how and why to incorporate these ideas into your marketing strategy.

1. Find what makes you stand out

Figuring out what makes you unique is the first in our list of marketing ideas for real estate agents in 2019. When you’re dealing with a competitive industry like real estate, finding something to make you stand out is important. Do you find yourself describing yourself a certain way, or do others always add the same interesting tidbit when they introduce you? Do you have a

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Greater Vancouver real estate is improving, but it’s not even close to normal yet. Real Estate Board of Greater Vancouver (REBGV) numbers show a big climb in sales in August. The rise in sales was met with a jump in inventory though, offsetting most of the improvement. The region continued to see falling prices, with the composite falling more than 10% from peak for the first time since the recent downturn.

Greater Vancouver Real Estate Prices Enter Technical Correction

Greater Vancouver real estate prices continue to fall, according to the local board’s benchmark price. REBGV reports the benchmark, or typical, home cost $993,300 in August, down 8.3% from last year. In the City proper, Vancouver East saw the benchmark fall to $1,033,400, down

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Total home transactions across province expected to rise 11 per cent versus 2019, with average sale prices also predicted to increase in every area

Although every region in B.C. is expected to see lower home sales in 2019 than in 2018, sales will more than recover in 2020, according to a September 5 forecast by the British Columbia Real Estate Association (BCREA).

Overall in 2019, residential transactions across the province are predicted to be five per cent lower, at about 75,000 units, than the 78,505 sales of 2018. Every one of B.C.’s 12 boards is expected to report a year-over-year decline in total sales across 2019, with drops ranging from one to 14 per cent 

However, BCREA forecasted that every board will see considerable sales jumps in

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Strata deals account for more than half of transactions in ultra-tight industrial sector

Projects where space is sold – not leased – are dominating Metro Vancouver’s industrial market for the first time as property transactions fall sharply from the record investment levels of 2018.

In the first six months of this year, industrial investment struggled to reach $272 million, and it “will likely fall far short of its five-year average,” according to JLL and Altus Group.

The slide began in the first quarter, with a 54 per cent plunge in industrial transactions compared with the record-setting pace seen in the fourth quarter of 2018.

But the bigger story is the transformation of industrial into a strata market as tenants seek shelter from a

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Simply stated, when investing in real estate, the goal is to put money to work today and allow it to increase so that you have more money in the future. The profit, or "return," you make on your real estate investments must be enough to cover the risk you take, taxes you pay, and the costs of owning the real estate investment such as utilities, regular maintenance, and insurance.

Real estate investing really can be as conceptually simple as playing monopoly when you understand the basic factors of the investment, economics, and risk. To win, you buy properties, avoid bankruptcy, and generate rent so that you can buy even more properties. However, keep in mind that "simple" doesn't mean "easy." If you make a mistake,

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If you’re looking to buy or sell a home, there’s no shortage of representation. But the only way to tell if an agent is right for you is to ask some hard questions.

If you’re looking to buy or sell a home, chances are you’ll want to work with a real estate agent—and there’s no shortage of ways to find one! Perhaps you know a family friend, have a newly licensed college buddy, or spotted a face on the side of a bus. Regardless of how you connected, though, the selection process for your broker or salesperson shouldn’t end there. 

It’s crucial, when making an investment as emotionally and financially fraught as a real estate transaction, to thoroughly vet your representation—but many people don’t, says Kelvin Kucey, deputy registrar of Regulatory

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