My East Van Blog

Summer Market is always slow

(July 31, 2012)

Most people don't realize that the summer months are usually a slow time for the housing market.  The reason is simple, many people are away on vacation, and there are less listings and less buyers around. 

Typically, things pick up speed again in September - people get back in town and the kids are back to school.  Real estate market is very seasonal.  In Canada, no one wants to move in the snow... 

I... read more.

Not All Realtors are the same

(July 27, 2012)

Not all Realtors are the same.  You've probably heard that before, but what I'm referring to is not that some Realtors are good, and some are bad.  Every single one is different, and so will you experience with your Realtor.

Throw away the stereotype of the typical Realtor. It's like saying every doctor, lawyer, accountant, and teacher do the same job. Would you trade your trusted family doctor for j... read more.

Don't get ripped off by a contractor

(July 22, 2012)

Last year, the Better Business Bureau received nearly 900 complaints filed against general contractors and other renovation companies. The main problem was they were charging too much and not doing enough work.

What do they suggested?  Be picky and interview at least 3 contractors, get everything important in writing, and go with a company insured with WorkSafe BC. 

For more information, check the Be... read more.

Will More Apartments bring rental rates down?

(July 19, 2012)

The Aquilini family, owners of the Vancouver Canucks planned to propose a three residential towers at Rogers Arena.  The three residential towers proposed for the Rogers Arena site - one at each end of the arena and the third just across the Georgia Viaduct from the arena. The towers would include 614 living units.

The proposal is suppose to help with housing affordability, stating a large numbers o... read more.

Careful of What You Hear About the Market

(July 16, 2012)

You no doubt have heard the media going on and on about the housing market slowing down. Yes, the market is definitely slower than previous years. I believe that Greater Vancouver has been spoiled in a way over the years, where buying pretty much anything would have made you money in a short period of time. That is definitely not the normal case for most of the world, and therefore when the market... read more.

Do you know the New Mortgage Rules?

(July 11, 2012)

The government has recently tighten the lending policies for mortgages, so do you know what they are?  Here is a summary from Paul Yeh, Manager of Residential Mortgages at Verico Clear Trust Mortgages:

New big changes are now in effect for high ratio mortgages (less than 20% down). In summary, those who are looking to purchase with less than 20% down will have a tougher time qualifying.

1. Maximum am... read more.

More Buildings Coming to BC

(July 08, 2012)

Article from the Vancouver Sun states, up to May of this year, building permits reached $4.4 billion in BC, a level not seen since the same period in 2007 when permits were more than $5 billion, according to Statistics Canada figures.

“It’s a sign of optimism, certainly in the Lower Mainland. People don’t build or invest in construction services unless they are confident in the future,” said Indepe... read more.

Housing Market's 10 year low

(July 04, 2012)

The Real Estate Board of Greater Vancouver states it's now a Buyer's Market, as the number of residential property sales has hit a 10-year low in Metro Vancouver.

June saw a 27.6% drop compared to the same time last year.

“Overall conditions have trended in favour of buyers in our marketplace in recent months,” said Eugen Klein, the board’s president, in a news release on Wednesday.

“This means buy... read more.