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Keeping You Informed: Real Estate News & Information

Buyer activity brings greater stability to the housing market PDF Print E-mail
Category: Market Update
Monday, 04 May 2009

With more buyers and fewer homes for sale in recent months, the Greater Vancouver housing market has entered a more moderate and balanced state. Read more...

 
Property sales strengthen in current market cycle PDF Print E-mail
Category: Market Update
Friday, 03 April 2009

The Metro Vancouver housing market experienced a movement away from volatility and toward stability to start the spring season.

Home sales in March 2009 returned to levels witnessed at the beginning of the decade, with 2,265 sales recorded across Metro Vancouver for the month, a 53 per cent increase over February but a 24.4 per cent decrease over March 2008, when 2,997 sales were recorded. Read more...

 
Property listings decrease, as February sales improve PDF Print E-mail
Category: Market Update
Tuesday, 03 March 2009

Residential housing sales in Greater Vancouver rose 94 per cent in February compared to the month before, with 1,480 sales registered in February compared to 762 sales in January, which was the slowest month for housing sales in 25 years. Over the past 10 years, February sales have typically surpassed January by an average increase of 53 per cent. Read more...

 
Home listings withdraw as sales volume slows PDF Print E-mail
Category: Market Update
Tuesday, 03 February 2009

The first month of 2009 saw a continued reduction in the number of homes listed for sale in Greater Vancouver, while sales volumes in January were the lowest for that month since the early 1980s.
 
The Real Estate Board of Greater Vancouver (REBGV) reports that sales of detached, attached and apartment properties declined 58.1 per cent in January 2009 to 762 from the 1,819 sales recorded in January 2008. Read more...

 
Federal budget good news for homebuyers and homeowners PDF Print E-mail
Category: Real Estate News
Wednesday, 28 January 2009

Yesterday’s federal budget offered a number of initiatives to benefit homebuyers and homeowners in our communities.

“The housing measures tabled in yesterday’s budget will go a long way to addressing local economic uncertainties, consumer confidence and the quality of life in our neighbourhoods,” said REBGV president Dave Watt. “Home sales are so important to our economy. Each time a home changes hands, the transaction generates significant spin-offs and jobs because homebuyers also purchase furniture, appliances, carpeting, and numerous other goods and services related to their homes.” Read more...

 
New property assessment rules: what’s changed? PDF Print E-mail
Category: Real Estate News
Friday, 16 January 2009

Earlier In January, BC Assessment (BCA) sent property assessment notices to property owners.

This annual process is often a confusing one for many commercial and residential property owners. Typically, there is a difference between the property value assessment on the assessment notice and the current market value as determined by a REALTOR®. Read more...

 
2008 brought improved housing affordability to Greater Vancouver PDF Print E-mail
Category: Market Update
Monday, 05 January 2009

The record-breaking real estate market cycle in Greater Vancouver, longer than normal at seven consecutive years, ended in 2008 amidst global economic challenges. The change brought relief from rising prices that saw benchmark prices escalate from $357,770 for a single family detached home in December 2001 to $648,421 by December 20 Read more...

 
Purchaser’s right to cancel contract of purchase and sale PDF Print E-mail
Category: Investing in Real Estate
Wednesday, 29 October 2008

On October 28, the Financial Institutions Commission posted this alert to its website (www.fic.gov.bc.ca):

Recent difficulties in global financial markets have led to delays in obtaining financing commitments and building permits for some development properties marketed in British Columbia under the Real Estate Development Marketing Act. Read more...

 
Investing in US real estate - beware of taxes PDF Print E-mail
Category: Investing in Real Estate
Monday, 25 August 2008

With the recent declines in the value of US real estate and the relative strength of the Canadian dollar as compared with the US dollar, it may be an ideal time to buy property south of the border. Those who decide to take the plunge need to consider the tax consequences associated with owning US real estate. Read more...

 
Federal law requires REALTORS® to verify client identity PDF Print E-mail
Category: Real Estate Law & Legal Information
Wednesday, 09 July 2008

REALTORS® across Canada are now required to collect personal identification information from their clients in order to comply with federal legislation. Read more...

 
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