POSITIVE SIGNS FRASER VALLEY HOUSING MARKET IS STARTING TO MOVE (Surrey, BC) – Sales on Fraser Valley’s Multiple Listing Service® (MLS®) in February experienced a typical ‘early spring’ surge, increasing by 48 per cent in one month going from 617 sales in January to 913 last month. However year-over-year, they reflect a decrease of 28 per cent compared to the …
January, 2013: Lower Mainland Real Estate Market Update
HOME SALES SLOW TO NEAR HISTORIC LEVELS IN FRASER VALLEY AS BUYERS WATCH AND WAIT FROM SIDELINES (Surrey, BC) – A total of 617 sales were processed through the Fraser Valley Real Estate Board’s Multiple Listing Service (MLS®) in January, a decrease of 23 per cent compared to 799 sales during the same month last year. January 2013 ranks as …
The Housing Bubble in Vancouver (Lower Mainland, BC)
Housing Bubbleoney, By Cameron Muir, BCREA Chief Economist I am now convinced that we will never hear the end of housing bubble speak. The premise is now as firmly entrenched in popular consciousness as carbon emissions and TMZ. It has taken the form of idolatry in the blogosphere, where any countervailing narrative is demonized. It has catapulted university dropouts into …
Free properties in White Rock?
Only 100 years too late !! When I finish building my time machine, I’m going back to 1911 to take part in this deal!! Check it out!
December, 2012: Lower Mainland Real Estate Market Update
FRASER VALLEY REAL ESTATE SALES AT LOWER LEVELS IN 2012 (Surrey, BC) – Fraser Valley’s real estate market in 2012 will be remembered as the year buyers and sellers took a breather reflecting quieter sales, an average number of new listings and prices overall remaining flat. The president of Fraser Valley’s Real Estate Board, Scott Olson, says, “The last half …
November, 2012: Lower Mainland Real Estate Update
HOME SALES DECREASE IN THE FRASER VALLEY; THOSE BUYING LOOKING FOR AFFORDABILITY (Surrey, BC) – Property sales through the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) decreased by 19 per cent in November compared to the same month last year, moving from 1,120 to 905. Sales also decreased 14 per cent month-over-month compared to October 2012. Scott Olson, …
October, 2012: Lower Manland Real Estate Market Update
POSITIVE SIGNS FOR FRASER VALLEY HOUSING MARKET (Surrey, BC) – The Fraser Valley Real Estate Board (FVREB) processed 1,053 sales on its Multiple Listing Service® (MLS®) in October, a decrease of 8 per cent compared to the 1,139 sales during October last year however, a 23 per cent increase compared to September. Scott Olson is the president of the board. …
September, 2012: Lower Mainland Real Estate Market Update
BUYERS TAKE ‘WAIT AND SEE’ APPROACH FOR SINGLE FAMILY HOMES; CONDOS HOLDING THEIR OWN (Surrey, BC) – For the second month in a row, property sales on the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) have decreased to historically low levels. In September, a total of 857 sales were processed on the MLS®, a decrease of 26 per …
August, 2012: Lower Mainland Real Estate Market Update
HOME PRICES RESILIENT DESPITE LOWER SALES IN THE FRASER VALLEY (Surrey, BC) – In August, sales on the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) ranked the third lowest for the month in the last decade – after 2008 and 2010. Last month’s 1,073 property sales represent a 20 per cent decrease compared to the 1,341 sales during …
July, 2012: Lower Mainland Real Estate Market Update
SEASONAL DIP IN SALES; HOME PRICES CONTINUE TO HOLD STEADY IN THE FRASER VALLEY (Surrey, BC) – The Fraser Valley Real Estate Board processed 1,393 sales on the Multiple Listing Service® (MLS®) in July, an increase of 5 per cent compared to the 1,322 sales during the same month last year, and 5 per cent fewer than the 1,463 sales …
June, 2012: Lower Mainland Real Estate Market Update
FRASER VALLEY’S HOUSING MARKET ‘STEADY AS SHE GOES’ (Surrey, BC) – For the fifth consecutive month, the ratio of property sales in the Fraser Valley compared to the number of listings on the market has remained stable. In June, it was 14 per cent – the same as it was in February and April of this year. In March and …
A Breakdown of the new Mortgage Rules
Huge news has come down the pipe about changes to mortgage lending. Whether you are looking to buy a home or refinance a current mortgage, these changes will affect you. The changes will come into effect on July 9th, 2012 so if you have been considering mortgage financing, you may want to get it done sooner than later to ensure you …
New Mortgage Rules FAQ
On Thursday Finance Minister Jim Flaherty announced changes to the rules for government-backed insured mortgages for residential properties of 1-4 units in this announcement four new measures were announced effective July 9th, 2012 for new government-backed insured mortgages. Below are some of the frequently asked questions from prospective buyers and those homeowners who currently have an insured mortgage. Q. Why is the …
HARPER GOVERNMENT TAKES FURTHER ACTION TO STRENGTHEN CANADA’S HOUSING MARKET
As part of the Government’s continuous efforts to strengthen Canada’s housing finance system, the Honourable Jim Flaherty, Minister of Finance, today announced further adjustments to the rules for government-backed insured mortgages. “Our Government stands behind the efforts of hard-working Canadian families to save by investing in their homes and their future,” said Minister Flaherty. “The adjustments we are making today …
May, 2012: Lower Mainland Real Estate Market Update
WARMER WEATHER GENERATES ACTIVITY IN FRASER VALLEY’S HOUSING MARKET (Surrey, BC) – Home sellers and buyers in the Fraser Valley took advantage of the first warm spell of the year triggering an increase in new listings and keeping sales steady last month. The Fraser Valley Real Estate Board posted 1,616 sales in May, an increase of 13 per cent compared …