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  1. Home prices rise as B.C. real estate market continues to slump

    Home prices up but real estate sales in province continue to slump Scott Brown The Province B.C. home sales dropped more than 45 per cent in May compared with the same time last year but home prices continue to rise, according to a monthly report from the B.C. Real Estate Association (BCREA). The BCREA says […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    16-06-2020
    Real Estate Related

  2. Commercial check-in: What’s in store for office real estate in Canada?

    Office space could be replaced by work-at-home workplace Clayton JarvisMortgage Broker News Canada’s commercial real estate sector is as unsettled as it has ever been. With CECRA struggling to work up a detectable heartbeat, there is growing anxiety that when federal and provincial efforts to support small businesses through the COVID-19 pandemic come to an […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    16-06-2020
    Real Estate Related

  3. Major Canadian bank warns of historic price declines in Toronto and Vancouver

    National Bank of Canada predicts price decrease in real estate Ephraim VecinaMortgage Broker News National Bank of Canada is predicting the largest ever price decrease in Canadian real estate this year, at an average of 9.8% from 2020 to 2021. This will outstrip the historic 9.2% decline during 1981, as well as the 6.3% drop […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    16-06-2020
    Real Estate Related

  4. Chelsea Estate 9747 Cameron Road Vernon 234 acre waterfront property for sale

    In the pink: Giant Vernon waterfront estate up for sale John MackieThe Province Realtor Mark Lester specializes in selling unique properties. “I’ve sold waterfront estates, I’ve sold private islands,” said Lester. “I sold the Douglas Lake Ranch. I’ve sold forestry land, I’ve sold golf courses, marinas.” The common thread is that the properties are so unusual […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    15-06-2020
    Real Estate Related

  5. Housing Market Activity Shows Signs of Recovery in May

    BCREA May housing market activity BCREA The British Columbia Real Estate Association (BCREA) reports that a total of 4,518residential unit sales were recorded by the Multiple Listing Service®(MLS®) in May2020, a decline of 45.2per cent from May2019. The average MLS® residential price in BC was $728,898, a3.2per cent increase from $706,394recorded the previous year. Total […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    15-06-2020
    Real Estate Related

  6. Concord Pacific acquires former Cresford site The Clover on Yonge

    BC developer to acquire troubled Toronto condo site Kelsey Pudloski Livabl On Friday, Vancouver-based developer Concord Pacific announced it had acquired ownership of The Clover on Yonge, one of three under-construction condominium projects by Cresford Development Corporation to enter into receivership.  Concord Pacific confirmed to The Toronto Star that it had agreed to the terms set […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    14-06-2020
    Real Estate Related

  7. COVID-19 magnifies B.C.’s property assessment woes

    The assessment Appeal Board reports a spike in appeals in both 2019 and 2020 to more than 5,000 annually Derek Holloway Western Investor There’s nothing like an economic meltdown to expose a skewed property assessment system in British Columbia’s commercial real estate market. Many B.C. communities have looming 2020 budget shortfalls that could have been […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    13-06-2020
    Real Estate Related

  8. CMHC’s new minimum Beacon requirement: Who’s going to suffer?

    The credit score will change from 600 to 680 Clayton JarvisMortgage Broker News As with most announcements from the Canadian Mortgage and Housing Corporation, the rollout of the organization’s new underwriting guidelines on June 4 has kicked off a storm of criticism, confusion and anxiety. Of the three changes to be implemented on July 1 […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    12-06-2020
    Real Estate Related

  9. Canadian home prices forecast to drop 10% in pandemic fallout

    Home prices fall 10% from pre-pandemic market Sean MacKayLivabl Average Canadian home prices are projected to fall 10 percent from their pre-pandemic levels as high unemployment, rent declines and mortgage payment struggles caused by COVID-19’s economic impacts take their toll. The forecast from Capital Economics’ Senior Canada Economist Stephen Brown arrives at the end of […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    11-06-2020
    Real Estate Related

  10. CHMC is only one insurer of high ratio mortgages – others are Genworth and Canada Guarantee

    Genworth (and Canada Guaranty) vs CMHC: Good for the mortgage industry Clayton JarvisMortgage Broker News Canadians of all stripes were blindsided on June 4, when the Canadian Mortgage and Housing Corporation suddenly revised certain key underwriting guidelines. The story got a little more interesting on Monday, when CMHC’s competitors in the mortgage insurance space, Genworth […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    10-06-2020
    Real Estate Related

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