Blog & News: Vancouver Real Estate Market

Vancouver, BC – February 22, 2017. On the heels of multiple government announcements in 2016 and early 2017, the British Columbia Real Estate Association (BCREA) welcomes the latest: an increase in the Property Transfer Tax exemption threshold for first-time buyers, announced in Budget 2017. The increase, to $500,000 from $475,000, takes effect today.

 

BCREA appreciates this government’s attention to the needs of first-time homebuyers. To keep pace with the dynamic real estate market...

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During its first five days of operation, 45,000 Compass cards were used on the new Evergreen SkyTrain extension, according to early data from TransLink.

 

“We’ll be studying it more going forward, but it’s off to a pretty good start,” TransLink CEO Kevin Desmond said Thursday after a board of directors meeting, noting the figure is more than the populations of Port Moody, Anmore and Belcarra combined. “A lot of people are trying the system out.”...

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The Federal Government announced significant changes to regulations for new-government backed insured mortgages today. Effective October 17, 2016, all insured homebuyers will have to qualify at the posted 5-year qualifying rate. This is a change from previous policy where only variable rate mortgages and mortgages with terms less than 5-years were subject to a higher qualifying rate.

 

With this move, the Federal Government has chosen to offset a modest risk to the taxpayer by severely eroding...

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A combination of high house prices and a drop in listings hasn't quelled the dream of homeownership and the Tri-Cities is seeing an unusually busy winter real estate market.

 

Tri-City real estate market shows no signs of cooling

 

"It's a supply and demand issue. It's not being driven on the local level in the Tri-Cities by foreign investments or that kind of thing. It's primarily local buyers and sellers and a lot of people that already live in the Tri-Cities," said Darcy McLeod, president of the Real Estate Board of Greater Vancouver.

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New down payment rules will go into effective February 15, 2016.

 

“The Government’s role in housing is to set and maintain a framework that is equitable, stable and sustainable. The actions taken today prudently address emerging vulnerabilities in certain housing markets, while not overburdening other regions,” Finance Minister Bill Morneau said in a release. “They also rebalance government support for the housing sector to promote long-term stability and balanced economic...

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Vancouver's booming real estate industry is being targeted in a federal money-laundering audit that could potentially lead to massive fines and jail time for realtors.

     

Ottawa's increased examination of Vancouver real estate deals has been under way for several months and has been revealed in a Province investigation that obtained rare internal data and risk-analysis reports from Canada's financial intelligence unit, Fintrac.

 

Documents obtained under access to information...

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Professional negotiation skills are a must for all real estate agents helping home buyers and sellers, particularly in the current market.


David Reimers has been awarded the Certified Negotiation Expert (CNE®) designation by the Real Estate Negotiation Institute (RENI). The CNE® is earned by real estate professionals after successfully completing formal negotiation training from the Real Estate Negotiation Institute. Agents who receive this certification are in the top 1% of all agents nationally....

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   TORONTO - One of the country's big banking groups has issued a report saying that a cooling in Canadian house prices may not be all bad news.

 

The CIBC World Markets says the slowing of Canadian home sales will "take a bite" out of economic growth but adds there could be "winners as well as losers across the economy."

 

For more information click here.

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MISSISSAUGA, Ont. - The latest real estate outlook from ReMax says Canadian home sales increased or held steady in much of the country this year despite tighter financing and economic uncertainty abroad.

 

ReMax says the trend is expected to continue, with home-buying activity propped-up by low interest rates and an improved economic picture in 2013.

 

The report found that the number of homes sold is expected to match or exceed 2011 levels, led by strong activity in Calgary and other western...

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About a third of Baby Boomers plan to sell their home to fund their retirement, according to a study that questions whether buyers will dry up as that massive segment of the population downsizes.

 

Bank of Montreal is warning Boomers not to count on that nest egg, while other observers suggest that even if prices don’t plunge, big increases in property values are a thing of the past.

 

“They shouldn’t be relying on their homes because there are risks,” says Marlena...

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