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Latest e-news: If only we had more homes for sale

May 24th, 2023
As we know, predictions are difficult, particularly about the future! In my previous e-news I discussed some of the factors at play in the local real estate market. At the time it was anyone's guess as to how early 2023 was going to play out. By this time however we have enough of the year behind us to see some consistency. The most consistent factor we’re seeing at this time is the extremel ...

From my e-news: Variables at play, early 2023

February 22nd, 2023
Many factors continue to buffet Vancouver real estate. Indirectly, strong reported inflation (never mind the unreported inflation); a downturn in the equity markets; talk of recession; the Ukrainian war; currency fluctuations, etc. Directly, large and continuing interest rate increases (perhaps stabilizing at much higher rates now?); stress tests; foreign buyer restrictions and taxes; vacancy ...

What's the real estate weather like these days?

June 15th, 2022
A huge number of factors are currently buffeting Vancouver real estate. Indirectly, strong reported inflation (never mind the unreported inflation); a downturn in the equity markets; the crypto crash; talk of recession; the Ukrainian war; currency fluctuations, etc. Directly, large and continuing interest rate increases; stress tests; foreign buyer restrictions and taxes; vacancy taxes; immin ...

What's ahead? Some thoughts on 2022 real estate

January 20th, 2022
A number of variables -- and wild cards -- are set to affect the 2022 housing market. As you know, I'm always a bit hesitant to put much value on predictions, and have often quoted the phrase "predictions are difficult, particularly about the future." The Real Estate Board of Vancouver's chief economist Keith Stewart recently shared his 2022 housing and economic predictions. While Keith is ca ...

Heads up for all City of Vancouver homeowners

January 16th, 2022
If you own any sort of home in Vancouver -- detached, condo, duplex, townhouse -- be aware that the deadline's looming to complete your annual online Empty Homes Tax Declaration. With a very few exceptions, all Vancouver homeowners must complete the declaration (only one declaration per address is required), otherwise you will be charged the tax. And no one wants to be charged any more tax th ...

Planning ahead, looking back with gratitude

December 16th, 2021
 A few brief thoughts as we close out the year. The over-riding theme in 2021 was extremely high demand and limited supply. The result was record high sale prices; the fall-out was many buyers failing to lock in a new home, even with several offer attempts on multiple properties. This year also held true to form with the continuous long-term rise in Greater Vancouver home values. See graph at ...

Pricing and supply: Yep, here’s the real story

October 18th, 2021
Yes, this can be a busy time of year for real estate sales. Many people assume that homes, once listed, will sell in a week and all is good! But the reality can be quite different. A home priced too high will generate minimal interest and will likely not sell. Properties must be priced realistically, based on comparables sales – not active listing prices – in the immediate neighbourhood (and ...

Change is inevitable, and potentially imminent

August 30th, 2021
If you've been following the election campaigns, you'll know that the three main federal parties have all promised to improve housing affordability. Initiatives to build 1.4m million homes in four years; prohibiting foreign buyers; disallowing blind-bidding; increased mortgage insurance limits and longer mortgage amortizations; and even more promises in the fine print. All and any of these co ...

Heads up re this City of Vanc vacancy tax issue

August 22nd, 2021
Both the BC provincial government and the City of Vancouver levy so-called vacancy / speculation taxes. However, the implications for home purchasers differ. Below is an excerpt from a recent article written by Kim Spencer, Manager of Professional Standards at the Real Estate Board of Greater Vancouver. "Since 2018, both our provincial government and the City of Vancouver have decided to har ...

Summer contemplations: the paths taken, and not

August 4th, 2021
Some of you may have seen the movie "Sliding Doors", from several years ago. The story followed the main character down two parallel but very different life paths, based on one singular choice that character made, at one particular moment in time. In that vein, some lighter, although perhaps more contemplative thoughts. A short summer read to jump start your thinking. (Originally published as ...

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