Lower Mainland Market Update

 

The Greater Vancouver housing market experienced steady activity to begin the summer season. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 2,972 in June 2010, a decline of 30.2 per cent compared to the 4,259 sales in June 2009, which was the second highest selling June on record more...

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Sales and Listing Graphs June 2010 more...

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Housing shifting from seller’s market more...

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Sales and Listing Graphs June 2010 more...

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The Honourable Jim Flaherty, Minister of Finance, today announced a number of measured steps to support the long-term stability of Canada's housing market and continue to encourage home ownership for Canadians more...

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Housing supply and demand reach closer alignment in January more...

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West Vancouver Residential Sales Count January 21 2010 more...

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Limited Common Property is a form of common property whereby exclusive use of a specific area is granted to one or more owners such as patios or balconies. Common Property consists more...

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An Assignment is a legal sales transaction whereby the Original Purchaser (the "Assignor") of a property sells, and thereby transfers, their rights and obligations under the original contract to a new Purchaser more...

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The Bank of Canada cut its benchmark lending rate to within spitting distance of zero, and signalled that it is prepared to increase the money supply to spark a rebound that policy more...

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To stimulate economic growth and encourage Canadians to invest in improvements to their homes, Budget 2009 propeses to introduce a temporary Home Renovation Tax Credit (HRTC). more...

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Increased property listings and moderating prices have eased the Greater Vancouver Real Estate housing market into a buyers phase. New listings for detached, attached and apartment properties increased by 18.3 percent to 6,546 in June 2008 compared to June 2007 when 5,553 more...

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The Canada-China Business Forum, to be held July 5 in Vancouver, is a timely event that is expected to draw more than the 800 delegates, according to Chris Deng, manager of Dawa Business Press. Real estate opportunities in Western Canada will be the primary focus of the Forum, Deng said, specifically on income-generating property in the Lower Mainland of B.C. more...

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British Columbia's white-hot housing market will keep roaring into 2009, according to the chief economist for the Credit Union Central of B.C. "Lower mortgage rates, high income growth and rising in-migration through to 2009 are favourable trends supporting sales demand," said Helmut Pastrick. more...

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It's now mid November and the Real Estate Market is coming to a cool as it does every year around this time. This means there will be a lower amount of transactions due to the upcoming Holiday Season. This is a great opportunity for people who have been waiting for the right time to get into the market and sellers are more willing to negotiate due to the pressure of lowered overall sales more...

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Home Sales Surpass Expectations in 2nd Quarter-Vancouver, BC – July 17, 2007. British Columbia Real Estate Association (BCREA) reports that residential sales volume on the Multiple Listing Service® (MLS®) in BC rose 20.4 per cent to $4.98 billion in June more...

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Adjustable Rate Mortgages are typically priced according to the current 30-day Banker Acceptances (BA), which are a very common short-term money market investment, guaranteed by the banks.  A lender funding adjustable/variable rate mortgages would typically borrow money through a 30-day Banker’s Acceptance.  The lender is then responsible for paying the yield (rate of return) to the investor who purchased the BA.  This yield is the cost of funding mortgages (“Cost of Funds”) to the lender more...

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