Blog

Weekly Rate UpdateLower fixed rates may be coming soon, but how much lower? Bond yields are down again, after the latest Bank of Canada announcement.Keep in mind, if fixed rates drop by 0.10%, the monthly mortgage payment only goes down by about $7 for every $100,000 borrowed. Not a big difference! If placing a down payment of less than 20%, rates are in the high 4's  ...

Amendments to the Residential Tenancy Act and the Manufactured Home Park Tenancy Act Date: July 15, 2024 Distribution: Real Estate Licensees Advisory Number: 24-026   Purpose This Advisory informs real estate licensees of changes to the Residential Tenancy Act and the Manufactured Home Park Tenancy Act as a result of Bi ...

  Market shifting in buyers’ favour, though hesitation remains Metro Vancouver1 home sales registered on the MLS® remained below seasonal and historical averages in June. With reduced competition among buyers, inventory has continued to accumulate to levels not seen since the spring of 2019. The Greater Vancouver REALTORS® (GVR) reports that residential sales2 in the region total ...

So, the numbers are out, so lets take a look at whats been happening in our home town of Richmond BC-For single family homes, we saw a benchmark price of 2.06M. That represents a decline of 10% since the May.-We also saw an amount of sales go down by 5% from the previous month.  -And we're also seeing turnaround times for sales increase from an average of 1 and a half weeks to 3 weeks.-Most p ...

Buying a home that does not complete for some time has some unique considerations. Who is the developer and what is their track record? When is closing? May I assign the unit prior to closing, either with or without penalty? What if there are deficiencies?  We have had a page on our website for a while now dealing with these and other such issues, but we now also have a video. Why read an a ...

  Home sales down in May while inventory continues to increase The number of transactions on the Multiple Listing Service® (MLS®) declined in May compared to what is typical for this time of year in Metro Vancouver1. This shift has allowed the inventory of homes available for sale to continue to accumulate with over 13,000 homes now actively listed on the MLS® in the region. The ...

So, the numbers just came out, so lets take a look at whats been happening in the month of May in our home town of RIchmond BC.For single family homes, the benchmark price reached 2.218M, which represents a 1.2+ increase from last year.   Last month, we saw an amount of inventory come onto the market more than buyers. For the month of may, same story!  With only a 12% selling ratio Most p ...

So, if you like Korean food, theres a complex called Hanin Village in Coquitlam and its got so much good food, whether you're looking just to eat at the market or looking for a sit down place, or even a coffee shop.   The kids wanted fried chicken, and we wanted noodles, so we decided on a place called Kangs Kitchen.  After looking at their instagram page we decided to go with a patron favor ...

So, in a couple of weeks, well be hosting Family Game Night once again!   Last time we held a huge client appreciation, it was in 2022 at the same venue.  Now, we're bringing it back for our clients enjoyment.   This place is pretty cool. Its one of Greater Vancouver's latest electric playgrounds, like a modernized Chuck E Cheez with more than 27,000 sq foot of gaming arena space.  It als ...

This was an interesting sale.   We followed the market closely for months.  Originally listed at 585k we ended up getting an offer right away, which didnt go through.  With another unit for sale in the building sellinng for 610, we made a plan to relist the property at a higher amount. 2 months later, we sold for 15 more than our original offer.  Definitely worth canceling the listing to fol ...