Real Estate News & Articles

Federal Changes to Mortgage Insurance Rules

2016-10-20

BCREA other The Federal Government recently announced significant changes to regulations for new-government backed insured mortgages. As of October 17, 2016 , all insured homebuyers have to qualify at the posted five-year qualifying rate.&n…

Grouse Mountain owners put resort up for sale

2016-10-20

Grouse Mountain, the 'iconic Vancouver landmark', put up for sale DERRICK PENNER The Vancouver Sun The owners of Grouse Mountain Resorts are hanging a for sale sign on the iconic North Shore ski hill and tourist attraction as its …

Growing too big too soon can lead to problems

2016-10-20

JENNY LEE The Vancouver Sun Harry Watson hadn’t planned on owning a big company. “I never wanted any more than six employees. That was my goal,” said Watson, 71, who started Metro Testing Laboratories in 1987 and found a n…

Biker forfeits share of property used as meth lab

2016-10-20

Hells Angel forfeits interest in property where police found meth lab Kim Bolan The Vancouver Sun Just a few months ago, Hells Angel Justino Pace told a reporter he was “annoyed” that the government was suing him over a rented p…

Zoocasa prepares for sold data release

2016-10-19

Justin da Rosa REP The brokerage has announced its official relaunch, with an eye to the future of sold data availability. “The recent Competition Tribunal negotiations with the Toronto Real Estate Board has the potential to spur more…

No crash for Canadian housing market say experts

2016-10-19

Steve Randall REP The Canadian housing market will escape a hard landing but is expected to see a slow-down, according to two economists. Moody’s Analytics economist Andrew Carbacho-Burgos believes that growth in prices will slow nati…

Online real-estate brokerage Zoocasa to relaunch with cash injection

2016-10-18

Tamsin McMahon The Globe and Mail An online real-estate brokerage shuttered by Rogers Communications Inc. last year is relaunching with a new website and an injection of cash from a group of technology-focused investors. Zoocasa is set to a…

B.C. Minister Expects Modest Housing Correction From Regulations

2016-10-18

Katia Dmitrieva REP The finance minister of Canada’s priciest province for real estate expects new regulations will cool housing appreciation in Vancouver, where there’s already been a marked decline in sales and foreign investm…

Chinese billionaire to tell PM that Vancouver sales tax is wrong

2016-10-18

Steve Randall Mortgage Broker News The 15 per cent tax on foreign buyers of Vancouver homes should be changed to be more targeted, a Chinese billionaire will tell the prime minister Tuesday. Frank Wu, vice-chair of the China Real Estate Ind…

BC housing market remains strong despite Vancouver decline

2016-10-17

Steve Randall Mortgage Broker News The decline in home sales in Vancouver which seems to have been exacerbated by the tax on foreign buyers, does not reflect the wider provincial housing market. The British Columbia Real Estate Association …

Fulton House 2338 Madison Avenue Brunaby 296 homes in a 41 storey tower by Polygon Fulton House Ltd

2016-10-15

Affordable highrise close to Brentwood stores MICHAEL BERNARD The Vancouver Sun Project: Fulton House Project location : 2338 Madison Ave., Burnaby Project size: 296 one- and two-bedroom apartment homes plus seven townhouses in a 41-storey …

Foreign real estate buyers look east

2016-10-15

B.C.?s 15 per cent tax appears to be sending offshore money to Toronto GARRY MARR The Vancouver Sun Foreign homebuyers, frightened off by a 15 per cent property transfer tax in Vancouver, appear to be making their way to Toronto, according …

Is housing bubble about to pop or is it just a correction?

2016-10-15

Foreign buyers tax, new mortgage rules, realtor reform among variables JOANNE LEE-YOUNG The Vancouver Sun Metro Vancouver’s stratospheric real estate market is showing signs of slowing, as properties are sitting longer and some prices…

Canada-wide forecast: What investors need to know

2016-10-14

Justin da Rosa Canadian Real Estate Wealth One of the country’s largest brokerages has released a province-by-province forecast. What does the future hold for each housing market? British Columbia Uncertainty is the adjective to use w…

'Hope for the best, but expect the worst' - financial advisor

2016-10-14

Ephraim Vecina Mortgage Broker News Canadian consumers and home owners must brace themselves for the effects of the recently announced changes to federal mortgages rules, as these will directly affect the main drivers of dynamism in the cou…

RBC report mirrors Chinese expectations for Vancouver

2016-10-14

Ephraim Vecina Mortgage Broker News In the wake of Finance Minister Bill Morneau’s announcement of new federal rules governing mortgages, a fresh RBC Economics report offered a silver lining around current developments, reflecting in …

Banks to monitor markets amid regulatory changes

2016-10-14

Ephraim Vecina Mortgage Broker News With new federal rules setting tighter requirements set for borrowers, Canadian banks will be closely monitoring movement in the national markets, starting with updated data to be released today by the Ca…

New Real Estate Council appointed to ensure consumer protection

2016-10-14

other Government is appointing nine public-interest members to the Real Estate Council of British Columbia, increasing its accountability and objectivity in fulfilling its role of protecting the public interest, Finance Minister Michael de …

BC Home Sale Stats YTD

2016-10-14

BC Home Sales Reflect Regional Demand Variations BCREA other The British Columbia Real Estate Association (BCREA) reports that 7,591 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in September, down 11.…

CREA releases latest stats

2016-10-14

Mortgage Broker News The Canadian Real Estate Association says the number of home sales edged higher in September compared with August, ending a streak of month-over-month decreases. Sales through the association's Multiple Listing Service …

New rules provide opportunity for agents

2016-10-14

Justin da Rosa REP The new mortgage rules and they implications they will have on homebuyers are nothing to seasoned agents, according to one veteran who believes savvy professionals will continue to find success. “In the aftermath of…

Millennials? home-buying capabilities to impact long-term economic strength

2016-10-14

Ephraim Vecina REP Vancouver’s cripplingly high home prices along with recent changes to regulations governing Canadian mortgages will limit millennials’ prospects of buying and owning homes—and in turn affect the national…

Trump Hotel opening delayed till 2017, residential tower at 1151 W Georgia to open mid November 2016

2016-10-14

Developer blames construction delays, not U.S. election controversy Dan Fumano The Vancouver Sun The opening of the Trump International Hotel and Tower in downtown Vancouver has been delayed until at least January. The hotel’s op…

BC Home Sales See September Slowdown, But Prices Recover From August: BCREA

2016-10-14

Effects of Lower Mainland slowdown take their toll on province-wide real estate transactions, as smaller Interior markets come out on top with big sales rises Joannah Connolly REW “Housing demand in the province continued to trend low…