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  1. Vancouver Real Estate: An agreement is not binding on court decisions

    ‘Alleged agreement’ to buy Vancouver home not legally binding, court rules Ian Hollidayother  A Vancouver man who sued the would-be buyer of his home for $600,000, claiming he was owed a deposit for that amount despite the deal falling through, has had his claims dismissed by the B.C. Supreme Court. In a decision issued Tuesday […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    16-06-2022
    Real Estate Related

  2. 11,878 square feet mixed use commercial in Surrey sells for $4.12 million

    Cloverdale 8,476-square-foot mixed-use centre sells for $4.12 million Re/Max Commercial AdvantageWestern Investor The downtown building on a 11,878 square foot lot contains eight commercial units and one residential rental in the suburban Surrey, B.C., community. Property type: Mixed-use commercial Location: 5780 176A Street, Surrey B.C. Number of leased units: 9 (8 commercial; 1 residential) Property […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    16-06-2022
    Real Estate Related

  3. 8.78 acres industrial site in Okanagan Falls sells for $4 million

    Okanagan Falls 8.7-acre industrial site sells for $4 million Re/Max Penticton RealtyWestern Investor Income-producing commercial/industrial property has access to Highway 97, with 6,950-square-foot commercial building, RV and boat storage and clean waste transfer station. Property type: Industrial Location: 4850 Weyerhauser Road, Okanagan Falls, B.C. Land size: 382,456.8 square feet. Land size in acres: 8.78 acres […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    16-06-2022
    Real Estate Related

  4. Take a benchmark interest rate of 3% or above to tame inflation | Macklem

    What will influence the Bank of Canada’s next rate decision? Fergal McAlindenother The central bank seems to be weighing up an even larger increase than we’ve seen this year to date  Some observers have sounded the alarm about the possible risk posed by rate hikes to Canada’s housing market – but the Bank of Canada […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    16-06-2022
    Real Estate Related

  5. National home price index fell by 0.8% on a seasonally adjusted basis in May | CREA

    Canada house prices – CREA reports the latest Ephraim Vecina other There has been a significant change… The national home price index fell by 0.8% to $822,900 on a seasonally adjusted basis in May, according to the latest data from the Canadian Real Estate Association. The most significant price drops were registered in the nation’s […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    16-06-2022
    Real Estate Related

  6. The 26 and 34 storey condo towers located in 20049 82nd Avenue, Langley

    Langley’s first towers rise in billion-dollar mixed-use development Western Investor StaffWestern Investor Latimer Village new condo towers nearly sold out before construction even started The first residential high rises in the Township of Langley broke ground this morning, June 15, in the billion-dollar, 74-acre Latimer Heights master-planned community by Vesta Properties.The two towers will be […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    15-06-2022
    Real Estate Related

  7. Glass suppliers hit B.C. construction sector with a 40% increase price of glass

    Glass price increase adds to construction cost pressures Peter MithamWestern Investor Contractors pushed to the brink as insolvencies loomGlass is a defining feature of highrise towers, and prices are poised to reach new heights in BC with a 40 per cent increase this month.Glass suppliers hit the B.C. construction sector with a 40 per cent […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    15-06-2022
    Real Estate Related

  8. Canadian home sales slow again in May

    May home sales down 22% since last year, 9% from April Tara DeschampsThe Vancouver Sun The Canadian Real Estate Association (CREA) said Wednesday that on a year-over-year and non-seasonally-adjusted basis, sales amounted to 53,720, a fall from 68,598 in May 2021.  A realtor’s for sale sign stands outside a house that had been sold in […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    15-06-2022
    Real Estate Related

  9. Fed raises key interest rate by 0.75% in a bid to tackle the mounting inflation crisis in the US

    Fed announces huge rate hike Fergal McAlindenother It’s the US central bank’s largest single rate increase for 28 years The Federal Reserve has made its most aggressive move on interest rates in 28 years, hiking its benchmark rate by 0.75% in a bid to tackle the mounting inflation crisis in the US.That brings the short-term […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    15-06-2022
    Real Estate Related

  10. Canada’s housing starts up 8% in May compared with April | CMHC

    CMHC reports surge in pace of housing starts Fergal McAlindenother Find out what’s driving the movement… The annual pace of housing starts was up 8% last month compared with April, Canada Mortgage and Housing Corporation (CMHC) has revealed.The seasonally adjusted annual rate of housing starts was 287,257 units in May, a rise from 265,734 the […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    15-06-2022
    Real Estate Related

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