REBGV Market Update For December 2017 – Condo and Townhome Sales Continued to Dominate.

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The December 2017 Real Estate Board Of Greater Vancouver (REBGV) market report showed that the prevailing trend of the last few months, continued in December. Home Sales December sales of detached, attached and apartment properties totaled 2,016, a 17.6% increase from December 2016 and a 27.9% decrease from the previous month. December sales were 7.5% […]

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Will The “Locals First” Policy Work At Reducing Vancouver Condo Prices?

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Vancouver’s on going escalating real estate prices and low availability have been a contentious issue with local residents. In October 2017, Mayor Gregor Robertson introduced a controversial motion in Council  – “Locals first “ condo pre-sale policy –  aimed at preventing real estate developers from offering out of province buyers first chance at condo presales […]

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New Mortgage Rules – Important Information For Homebuyers, Especially First-Time Homebuyers.

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Beginning on January 1st 2018, the Office of the Superintendent of Financial Institutions (OFSI) introduced 3 new rules that hit first time homebuyers and those thinking of refinancing their homes, the hardest. New minimum qualification rate or “stress test” All prospective homebuyers, even those with a down payment of over 20% have to pass this […]

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If You Own A Home With An Illegal Secondary Suite, Here’s Why You Should Get It Legalized.

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With home prices in the Lower Mainland reaching dizzying heights, many homeowners are looking at ways of offsetting the high mortgage costs. So it should come to no surprise that secondary suites have become a widespread practice, especially with the incredibly low rental vacancy rate. But a large proportion of homes with secondary suites in […]

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