Real Estate News & Articles

High credit scores reduce risk in hottest markets says CIBC

2016-08-26

Steve Randall Mortgage Broker News CIBC is confident that its mortgage book is not a huge risk even in the two hottest markets. In a conference call following the release of its third quarter earnings, the lender’s chief risk officer …

MLS data shows major correction ongoing in most of Metro Vancouver

2016-08-26

Vancouver might be cooling even prior to new tax Ephraim Vecina Canadian Real Estate Wealth Fresh MLS data compiled by Canadian real estate brokerage Zolo revealed that majority of Metro Vancouver’s real estate segment is currently ex…

Realtor accepted referrals from unlicensed website

2016-08-26

Stephanie Ip The Province A realtor has been suspended after it was found he had conducted more than a dozen sales referred by an unlicensed Chinese-language real estate website that offered Lower Mainland listings to foreign buyers. Xiao M…

Debt type determines ways to collect

2016-08-25

BC has progressive and effective legislation for strata corporations to collect and secure debts that are owing Tony Gioventu The Province Dear Tony: Our townhouse complex has been using a collection service to deal with unpaid strata fees,…

McKinnon 2102 West 48th Avenue 40 homes in a 4-storey building by Cressey

2016-08-25

FOCAL POINT: Each room has one piece that acts as a conversation starter for anyone who enters Mary Frances Hill The Province McKinnon by Cressey Where: 2102 W. 48th Avenue, Vancouver What: 40 homes in a four-storey concrete constructi…

Metro house sales plummet after offshore tax introduced

2016-08-25

SUMMER SLUMP Sam Cooper The Vancouver Sun Home sales dropped in Metro Vancouver by up to 86 per cent after the introduction of the foreign investor tax on Aug. 2, according to official MLS data only available to realtors. The Multiple …

Real estate association releases Q3 forecast

2016-08-25

Justin da Rosa REP Record starts and price moderation are on the horizon for Vancouver, according to the British Columbia Real Estate Association (BCREA). "The introduction of a 15% tax on foreign national home buyers in Metro Vancouver is …

Record BC Home Sale Forecast Despite Vancouver Slowdown

2016-08-25

BCREA 20 1 6 Third Quarter Housing Forecast Update BCREA other Download Document

House sales plunge on Vancouver's West Side

2016-08-25

Higher-end markets in Vancouver, Richmond see house prices reverse for first time in a more than a year Frank O'Brien Vancouver Courier Detached housing sales have plunged 84 per cent on Vancouver’s West Side and are down 88 per cent …

Realtor suspended over association with Chinese website

2016-08-25

Alban Wang paid $208,881 out of his commissions by 17 deals referred to him from Chinese real estate website Jason Proctor other A Richmond real estate agent has been suspended for a year for paying more than $200,000 for referrals on …

BC Home Sales to Climb 10.4% in 2016 Despite Vancouver Slowdown: BCREA

2016-08-25

Provincial association predicts record transactions and continued rising prices this year, as strong early sales and growth elsewhere offsets Vancouver losses Joannah Connolly REW Home sales across the province are forecast to climb 10.4 pe…

Royal Bank 'closely monitoring' housing markets in Vancouver, Toronto: CEO

2016-08-24

Lenders have added more insurance on loan portfolios REP Royal Bank CEO David McKay says the lender is "closely monitoring'' the real estate markets in Vancouver and Toronto, where home prices have been climbing at a breakneck pace. "The sh…

Over 70 agents owed more than $1M after company closure

2016-08-24

Ephraim Vecina REP Dozens of agents in Calgary are owed more than $1 million from their transactions prior to Discover Real Estate’s closure in July, highlighting a significant risk that Alberta agents face at present. Over 70 agents …

Risks present in Canada's hottest housing market, according to one agency

2016-08-24

Was the foreign buyer?s tax necessary? Justin da Rosa Canadian Real Estate Wealth There is some evidence Vancouver’s housing market has already begun to cool and, with its recently implemented foreign buyer’s tax to boot, a rise…

Vancouver tax leaves housing market vulnerable says Fitch

2016-08-23

Steve Randall REP Three weeks after the 15 per cent tax on foreign home buyers was introduced in Vancouver, Fitch Ratings says it leaves the housing market vulnerable to rising unemployment. The report says that beyond cooling the market, d…

Study: average Canadian family spent more on taxes than food and housing combined last year

2016-08-23

Canadian Real Estate Wealth VANCOUVER - The Fraser Institute calculates that the average Canadian family paid $34,154 in taxes of all sort last year, including "hidden'' business taxes that are passed along in the price of goods and service…

Gellatly Place 4215 Gellatly Road West Kelowna 33 condos in phase 1 of three phases marketed by Fortune Marketing

2016-08-20

Gellatly Place balances rural living with all the amenities MICHAEL BERNARD The Vancouver Sun Project: Gellatly Place Project size: A three-phased project with a total of 111 two- and three-bedroom condominiums in three buildings. In B…

Ravenswood 39289 Falcon Crescent Squamish 117 single family homes by Benchmark Homes

2016-08-20

Squamish development Ravenswood offers an idyllic mix of value and lifestyle SIMON BRIAULT The Vancouver Sun Ravenswood Project location: 39289 Falcon Crescent, Squamish       Project size: 117 three- and four-…

Concord Pacific sues city over False Creek land development

2016-08-20

Does Concord Pacific care about social housing the height of the building blocking views? TIFFANY CRAWFORD The Vancouver Sun Vancouver developer Concord Pacific is suing the City of Vancouver, arguing the city plans to build highrise condos…

Is there a limit to social housing?

2016-08-20

Squeezed middle class has a right to ask where government?s priorities lie Pete McMartin The Vancouver Sun In the circular world of the Downtown Eastside’s social welfare industry, where what goes around comes around again and again a…

TIPS ON AVOIDING THE CURBERS? CON

2016-08-19

Unlicensed car dealers who pose as private sellers are a menace to buyers BLAIR QUALEY The Vancouver Sun In May, Arthur Tong was stripped of his salesperson license and banned from selling cars by the B.C. Vehicle Sales Authority after he w…

Real-time sales numbers show a decline in 'average' Vancouver home prices

2016-08-19

Average price of home in Vancouver dropped 21.4 per cent in past month JOANNE LEE-YOUNG The Vancouver Sun Earlier this month, as surging Vancouver luxury home prices were making international headlines and local real estate boards reported …

U.S. wireless carrier lifts caps on data

2016-08-19

CRTC may feel pressure on plans EMILY JACKSON The Vancouver Sun T-Mobile, the third-largest wireless carrier in the United States, is abolishing data caps to offer consumers one plan with unlimited data, talk and text, a self-proclaimed &ld…

?Warehousing? compromises safety

2016-08-18

RISKS: Take the right steps to ensure the security of residents is maintained Tony Gioventu The Province Dear Tony: We have an owner in our building who should never have been moved into a condo. There have been a number of fires in her sui…