May 2020 Housing Market Statistics
Posted on Jun 08, 2020
REBGV Chair Colette Gerber provides a summary of the May 2020 housing market statistics.
Our Real Estate Market in times of Covid-19
Posted on May 15, 2020
British Columbia is heading towards the second phase of the reopening plan after the Victoria Day long weekend. While there is still a lot of unknown and uncertainty about the next steps, our local real estate market is gearing up to what can quickly becoming a busy season.
The provincial government named the real estate profession an essential ser...
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...