You can start your search for your next home in West Vancouver and or North Vancouver on two platforms displaying residential listings from REALTORS® which includes REALTYLINK.org and REALTOR.ca or reach out to June Conway via [email protected]! What is the difference with two net platforms? REALTYLINK.org gives you access to homes listed for sale on…
This is a question that many Canadians ask themselves before entering the housing market. Home ownership can be advantageous in several ways. An owner has more stability and flexibility than a renter, as there is no landlord imposing restrictions or timelines. There are also financial benefits to owning your own home. In an effort to…
Effective January 1, 2022, the federal Budget 2021 announced the government’s plans to implement a national, annual one-per-cent tax on the value of non-resident, non-Canadian owned residential real estate that’s vacant or underused. The government is finalizing draft legislation for the proposed underused housing tax (UHT). They’re releasing a draft later this year and will…
How much do foreign buyers impact Metro Vancouver’s real estate market? “Non-Canadian or permanent resident home purchases have continued to fall throughout the pandemic,” said Keith Stewart, REBGV economist. “All measures of non-Canadian or permanent residents purchasing homes are less than or close to one per cent in July 2021.“ *Note: Areas covered by the…
A market update was recently presented to the REALTORS® of Metro Vancouver by Keith Stewart, REBGV economist, covering the effects of COVID-19 pandemic on Metro Vancouver and elsewhere. Here are the highlights. Jobs are recovering, but there’s room to improve A key economic indicator is unemployment. When unemployment levels spiked after the 2009 financial crisis,…
You’re casually talking about the housing market with a REALTOR® you’re interested in working with, when the conversation shifts to your personal financial situation. The Realtor stops the conversation and politely asks you to sign a form called “Disclosure of Representation in Trading Services” (DORTS) before they can continue. This may seem a little sudden,…
BC’s wildfire season is devastating communities across our province this year with nearly 270 fires burning right now. During this crisis, it’s important to understand what you should expect from your insurance. What to expect Trying to obtain fire insurance can be difficult in areas under the threat of wildfires. While insurance underwriters follow their…
If you’ve decided to buy a home, it’s important you understand all the costs involved in addition to the price you’re paying for the property. Mortgage application Lenders may charge a mortgage application fee, which will vary depending on the lending institution. Mortgage insurance The federal government requires high-ratio mortgages with less than 20% down…
Did you know that in British Columbia, more residents live in a strata unit than a detached home, and this number will continue to grow! A strata unit can be a townhome, condo, or du/tri/multi-plex. Definitions of common strata terms is found here. Living in a strata is a form of communal living. Although residents…
As home owners age and live longer, their income sources may no longer be enough to cover expenses, especially for those on fixed incomes. Many home owners in this phase of life look to the market value their homes have built since they purchased it, also known as equity, to help cover these expenses. But…
