Sellers Market? Today, depending on the inventory available in your immediate area, you might very well be in a sellers market, but this will probably only last for a few months until many of the expired listings from 2013 get re-listed. Since 2008, any of my interested clients, and others who might have read my blog … Read more
In September 2011 we were still in a buyers market with over 18,000 active listings in this geographic area serviced by the Real Estate Board of Greater Vancouver. By December 1st we had returned squarely into a balanced market with just over 14,000 listings available. We start the New Year with just over 10,400 listings … Read more
It’s been a buyer’s market since April and the return to a balanced market is almost here.
…at least according to commentary in a publication regularly inserted in a local newspaper, which is widely circulated throughout Greater Vancouver and Fraser Valley communities: http://www.newlocalhome.com/editions/nlhr100722 The assertion, “…Homebuying is Easy,” seems to be based on the supply of homes listed on MLS. I checked yesterday and the Real Estate Board of Greater Vancouver (REBGV) … Read more
Rebate Threshold and Transitional Rules for New Housing The Province is proposing to increase the threshold for the BC HST new-housing rebate from $400,000 to $525,000 to ensure that, on average, purchasers of new homes up to $525,000 pay no more tax due to harmonization than is currently embedded as PST. The government has also … Read more
A Port Moody condominium apartment for sale which I was showing to a woman was advertised as a two (2) bedroom. I discovered upon showing that it was in fact a one (1) bedroom and den. Well it turns out that the developer originally sold these properties as two bedroom units to unsuspecting Buyers (hopefully … Read more
When the City of Toronto implemented a Land Transfer Tax (LTT) as a way to address a revenue shortfall, instead of bringing in revenue, the LTT did the opposite. An estimated 3,500 families who would have otherwise moved, stayed put because of the LTT, according to a report from the C.D. Howe Institute and economics … Read more
BC’s population grew by an impressive 14,440 individuals or 0.33 per cent from October to January 2009. This was the highest fourth quarter rate of growth since 1996 and reflected a net increase of 10,255 international immigrants, 64 per cent more than a year ago. In fact, net international was the highest on record in … Read more
This post is not about the slick (and mindboggling success of) marketing ploys of developers to “liquidate” their bulk over-supply of over-priced condos throughout Metro Vancouver; although just the thought makes me shudder. The condo liquidation phenomenon I am referring to here is likely to become more prevalent as more buildings realize that their short-sighted focus … Read more
As I prepare my business plan for 2009 and beyond, I can’t help but think what a waste to lose talented people who have sacrificed so much to become a REALTOR®. This past June the number of licensees with the Real Estate Board of Greater Vancouver (REBGV) hit a high at 9,818. As a result … Read more