Changes to the Mortgage Stress Test
Posted on Mar 02, 2020
Last week, Ottawa announced that as of April 6, the mortgage stress test will be calculated in a new way. This new measure is geared towards making it easier to qualify for a loan to buy a home. This change will affect anyone getting an insured mortgage, such as those putting down less than 20% on a purchase, for which default insurance is general...
The Shipyards Guide
Posted on Feb 17, 2020
The Shipyards is quickly becoming the epicenter of entertainment and dining on the North Shore. With its breathtaking water and city views, it shouldn't come as a surprise, but now that most restaurants, shops, and attractions, including the ice skating rink, are now open, we can truly appreciate how this new public space enhances the community on...
Strata owners facing higher strata insurance premiums and deductibles
Posted on Feb 06, 2020
A newly constructed building in Abbotsford saw a 780% increase in its strata insurance premium from 2019 to 2020. The premium for a three-year-old building in Langley rose from $97,000 to $371,000. These two are a couple of examples of what condo owners are facing in B.C. According to the Condominium Home Owners Association of B.C., close to 300 st...
Real Estate Market Update: January 2020
Posted on Jan 20, 2020
A Vancouver condo sold for $142k over asking price with 16 offers. Sounds very 2016, right? Well, this happened last month and it is not an isolated incident. While multiple offers are still not as frequent as in 2016 they are becoming part of the real estate landscape again.
Earlier this week, I spoke to a past client. Very quickly she turned the...
The Ice Rink at the Shipyards is open just in time for Christmas!
Posted on Dec 20, 2019
Just in time for Christmas, the City of North Vancouver’s new skating rink opened on December 19. The 12,000-square-foot ice surface is free and is open from noon to 7 p.m. daily, with skate rentals available for $7 for adults and $5 for children. The new facility is expected to be a significant winter draw for the North Shore.
Real Estate Market Update: November 2019
Posted on Dec 07, 2019
Last weekend, I talked to one of the attendees and an open house I was hosting. He commented that he had seen another group of people attending at the previous open house they had visited as well. I asked him why he felt people were doing the rounds at the open houses now, and he answered that he had read and heard that the market had shifted. His...