My East Van Blog
Despite all the news about the Vancouver Housing Market slowing down, there are still properties that are getting multiple offers; and heritage homes in East Vancouver are getting a lot of attention.
Older homes that have been nicely renovated are being targeted by many buyers. With standard size lots still maintaining stable price levels - builders, first time home buyers, and young families are... read more.
Neal and I were lucky enough to attend the 6th annual Night at the Aquarium fundraiser. It was a beautiful evening and they raised $316,433. One hundred percent of the proceeds will go towards the aquarium's conservation, research and education programs.
There were dozens of participating ocean wise restaurants and wineries serving delicious mini dishes, glasses of bubbly, wine, beer and spirits.
A... read more.
Vancouver Mayor Gregor Robertson unveiled the city's newest plan to attack the housing affordability problem. The plan is to develop more row houses and stacked townhouses near transit centers. The buildings will be a mix of rental, co-op, strata, etc.
The idea is to bring down and/or stabilize rental rates for those unable to afford today's housing market, and in general, bring down the cost of h... read more.
Three big changes were introduced by Finance Minister Jim Flaherty today for "high ratio" mortgages:
- The maximum amortization period for high ratio mortgages will be shorten from 30 years to 25 years. Shortening the amortization means both higher monthly payments, and higher income levels needed to qualify for a mortgage.
- The government also limited high ratio mortgages to homes with a purchase pric... read more.
Renting out your property, or homes with mortgage helpers have been increasingly popular in the last several years. But do you know your rights as a homeowner? If you get a "bad" tenant, can you just kick that person out? The answer is No. The provincial government has very detailed rules that protect the rights of the landlords and the tenants. Here is a quick list of some reasons you can serve n... read more.
New prediction from TD Bank, suggesting that Vancouver will see a 15% drop in housing prices over the next 2-3 years.
TD Bank says Vancouver's real estate market is stabilizing after soaring last year. Despite the recent pull back in sales volume, the market remains in balanced territory and underlying prices are continuing to expand.
The market segment at the greatest risk of a drop? Condominiums... read more.
Recent survey from Canada Mortgage and Housing Corporation stated, that out of the 10 largest cities in Canada, Vancouver is the least likely to renovate their homes.
There could be several factors causing this. First of all, average cost of renovations in Vancouver have increase 6%. We may also consider the fact that because of our high real estate prices, builders tend to buy up older homes and... read more.
It's already the middle of the 2012, and we've seen that the market has slowed down compared to previous years. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver declined 15.5% compared to the same time last year. However, sales have been constant throughout the spring months in 2012, so we are not seeing a continuous drop in the market... read more.
It's sad to hear when someone says to me, "help me find a home, price is the most important thing..." My reply has always been, "no, finding you a home you can see yourself living in, is the most important thing."
Now I am not discounting the importance of price. We live in the most expensive real estate market in Canada, and affordability is on everyone's mind. But let your Realtor be the objectiv... read more.
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