Good news for potential home buyers or sellers in British Columbia, the state of the Vancouver real estate market seems to be attaining balance, according to the Real Estate Board of Greater Vancouver: “The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 1,760 on the Multiple Listing Service (MLS) in January 2014. This represents a 30.3 per cent increase compared to the 1,351 sales recorded in January 2013, and a 9.9 per cent decline compared to the 1,953 sales in December 2013. Last month’s sales were 7.2 per cent above the 10-year sales average for the month. The Greater Vancouver housing market has been in a balanced market for nearly a year. This has meant steady home sale and listing activity accompanied by stable home prices, Sandra Wyant, REBGV president said.” What It Means What exactly does a balanced real estate mean? […]

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In 2013, the Vancouver real estate market seemed to be haunted by the ghost of the economic recession. However, Derrick Penner of Vancouver Sun reports that things look bright for this year’s Vancouver housing market, especially in Metro Vancouver. After a really poor start to (2013), as we go into this year I expect to see a little more stability, said Bryan Yu, an economist for Central 1 Credit Union. You’re not going to see the volatility we saw last year, though there will be a slight drop off in momentum into the first quarter (of 2014). Central 1’s forecast is for Metro Vancouver’s property sales to increase by six per cent in 2014, mortgage rates to increase but remain relatively low and employment growth to continue in pace with a stronger economy that will be influenced by improving conditions in the United States. There’s no real catalyst in terms […]

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In recent years, Canada has been seeing an influx of immigrants, on both a permanent and temporary basis. Jock Finlayson, Executive VP of the Business Council of British Columbia, expresses several key immigration statistics in a piece published by The Province: “Globally, Canada ranks near the top in the number of immigrants admitted, measured relative to the size of the existing population. In an average year, Canada welcomes 240,000 to 260,000 permanent newcomers. On top of this are sizable inflows of foreign temporary workers and students. According to the 2011 census, foreign-born residents comprise 26 per cent of British Columbia’s population; in the Lower Mainland, the proportion is much higher 41 per cent. By the time of the 2021 census, half of all Greater Vancouver residents likely will have been born outside of Canada. As immigration continues to drive demographic growth, the province’s population is destined to become ever more […]

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As another New Year rolls in, you’ll most likely want to know if your planned endeavors will be off to a good start. If one of those endeavors is homebuying, then you’re in luck. An article on the CBC News website reports on the continued growth of the Vancouver, BC real estate market into the year 2014:

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According to the Real Estate Board of Greater Vancouver (REBGV), the Vancouver real estate market condition for November, 2013 wasn’t as good as it was in October, particularly for the number of properties that were listed. However, it’s still good, decent, and favourable to buyers compared to its status last year. New listings for detached, attached and apartment properties in Greater Vancouver totalled 3,245 in November. This represents a 17.7 per cent increase compared to the 2,758 new listings reported in November 2012 and a 24.8 per cent decline compared to the 4,315 new listings in October of this year.

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Condominiums are luxurious but affordable housing options that allow people to live in a vibrant city like Vancouver. With British Columbia’s healthy real estate market, where people can just as easily buy a single-detached bungalow, many condominiums use their amenities to entice homebuyers into purchasing condo units instead. These amenities, however, can range from necessary (like a function room) to the frivolous (pet spa, anyone?). That’s why an article from OttawaCitizenStyle.com reminds buyers to rethink the “more is better mentality when buying a condo:

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Canada’s prospering real estate market may be due in part to the influx of foreign buyers, says Greg Quinn of Bloomberg News. Currently, one of the most lucrative cities for real estate investors is Montreal, where about 49 percent of its residential properties were immediately sold in the first half of 2013. However, that doesn’t mean that other places aren’t faring so well, In Vancouver, which boasts a rugged Pacific coastline and cultural ties to Asia, 40% of buyers of 1,239 such homes were from aboard.

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Buying a good home is one of the most important financial investments that most people work hard for to achieve, and your home will likely become a major financial obligation that you’ll be paying off for years to come. While home ownership can be an exciting prospect for a first-time homebuyer, remember that you should never rush into making a purchase, lest you end up carrying the enormous burden of a bad deal throughout your entire mortgage period. A home for sale in Canada’s Terminal City, for instance, might be in an excellent neighbourhood and comes in a style that pulls at your heartstrings something that gets you hyped up and ready to hunt for a mortgage lender. However, after closing the deal, you find out too late that the house is riddled with flaws, maybe a leaking roof, foundation problems, or bad siding. Hence, to avoid this predicament, an […]

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Vancouver is the eight largest city in Canada, with a metropolitan area home to more than two million people. This seaport city is an excellent place to live in, thanks to its mild climate and favorable economic conditions. Visitors and locals can’t get enough of the abundance of natural beauty in sites like Stanley Park and the Burnaby Mountain, as well as notable attractions like the Capilano Suspension Bridge and Chinatown. Many new and long-time residents who would rather not deal with the high upkeep demands of a traditional house and lot are eager to acquire condos for sale in Vancouver. After all, who wouldn’t want to have convenient living conditions in one of the world’s cleanest and best cities to live in? If you fancy a bit of an international road trip, the U.S. state of Washington is only 45 minutes to the south from your nice, comfy condo. […]

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According to rankings by The Economist, which is often based on the cost of 160 products and services in the cities being surveyed, Vancouver, B.C. was found to be the most expensive city in North America to live in. However, given the fact that Vancouver has also been ranked one of the most livable cities in the world, not to mention it has the least carbon footprint among all major cities in North America, it’s easy to say that every dollar you spend in the Hollywood North is worth it. In a vancitybuzz.com article, the most expensive home in Vancouver was listed at $35 million. The home has formal rooms, 2 wine cellars, 9 bedrooms, 13 bathrooms, 3 kitchens, stained glass windows, art deco parkade, and secured underground parking spaces. Homes like this help boost the Vancouver luxury real estate market. In fact, Vancouver’s overall real estate industry is seeing […]

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