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Stability and regional 'hot spots' characterize January housing market

February 16th, 2011
Stability and regional 'hot spots' characterize January housing marketThe Greater Vancouver housing market remained in balanced market conditions in January, although higher levels of buyer demand were seen in some of the region’s largest communities.The number of properties listed for sale and those sold on the Multiple Listing Service® (MLS®) last month outpaced the 10-year average in both ...

Macrealty January 2011 Market Update

February 9th, 2011
Macrealty January 2011 Market UpdateAfter the highly irregular and tumultuous real estate markets of 2008 and 2009, the BC real estate market returned to a relative state of normalcy in 2010. Canada seemingly avoided the worst of the turmoil of the great recession and this was reflected in the housing market, which bounced back quickly from the lows it saw in early 2009. In Vancouver, an inf ...

The market is ON FIRE!!!

February 8th, 2011
The market is ON FIRE!!!The real estate market has taken off in some neighbourhoods and it is definitely working for sellers in the detached housing market and buyers in the condo market.On the North Shore, there seems to also be a significant increase in interest in waterfront properties (which have been pretty slow for over a year) as well as in the West and North Vancouver markets generall ...

What does this mean for our Little Deep Cove?

February 7th, 2011
What does this mean for our Little Deep Cove?This article in NS News is interesting....not sure we have enough room in the Cove for much growth! Patricia(604)376-7653phoulihan@deepcovehomes.ca  District of North Vancouver population to grow 20,000 in 20 yearsBy Benjamin Alldritt, North Shore News February 4, 2011   Steering growth into two town centres and a half-dozen village centres wou ...

Upcoming Changes to Canadian Mortgage Rules

January 18th, 2011
Upcoming Changes to Canadian Mortgage RulesThe anticipated changes to the mortgage rules, making it harder for some to buy but also hopefully reducing the chances of problems with purchasers not being able to afford their homes, have now been announced.  One of the key changes affecting the amount some will be able to buy is the reduction of the maximum allowable amortization period from 35 t ...

What's up with the Assessment of your Deep Cove home?

January 15th, 2011
What's up with the Assessment of your Deep Cove home?Since the BC Property Assessments were sent out many people living and owning properties in Deep Cove have called me to ask questions about their assessments. At the high end of the market, such as with respect to Deep Cove waterfront, the increases have been high but not as crazy as in other parts of the Lower Mainland.  At the entry level ...

Where are some of the best deals in Deep Cove real estate now? WATERFRONT

January 2nd, 2011
Where are some of the best deals in Deep Cove real estate now? WATERFRONTOver the past year or so, it has been surprising to me how low Deep Cove waterfront prices seem to be when compared to prices on non waterfront homes. Of course waterfront is still much higher than non-waterfront property BUT the difference seems to be a lot less extreme than it has been in the past.  There are some gr ...

Interest Rate Update

July 20th, 2010
Interest Rate UpdateThe mortgage broker in our office just sent me this so for those of you who haven't heard the news today:  Canada's central bank issues gloomy outlook as it raises trend-setting rate by quarter pointBy Julian Beltrame, The Canadian PressOTTAWA - The Bank of Canada has hiked its trendsetting interest rate a quarter point to 0.75 per cent, while issuing a more gloomy outloo ...

Macrealty Market Update Harmonized Sales Tax (HST)’s effect on real estate prices in BC

July 15th, 2010
Macrealty Market Update Harmonized Sales Tax (HST)’s effect on real estate prices in BC New Construction All new residential construction will now be taxable at the 12% rate rather than the previous 5%. To offset some of this, the government has introduced a New Housing Rebate which will significantly reduce the burden of the additional tax up to a house value of $525,000. For new construct ...

Macrealty Monthly Market Update - June 2010

June 15th, 2010
June 2010 Market Update With the HST implementation date quickly approaching, many of you have asked what effect this new value-added tax will have on real estate prices in BC. To answer this question, we must break down its effects into 3 categories: New Construction, Resale, and Fees. New Construction This category is the one that is likely to be most influenced by the change from GST ...