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  1. Ontario housing market 25% overvalued

    Jennifer PatersonOther It’s been said before, but it seems the chorus is contagious – yet another report is calling the Ontario housing market overvalued. The Fitch Ratings report argues the province’s home prices are approximately 25 per cent overvalued, following an analysis between home prices and fundamental economic factors such as income, unemployment and mortgage […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    05-05-2015
    Real Estate Related

  2. Vancouver housing activist slams condo project at 1171 Jervis for having one entrance for the condo owners and one entrance for the Social Housing Unit renters #LesTwarog

    Naoibh O’ConnorVan. Courier A May 4th tweet under the @CityHallWchVan handle created a firestorm this week by calling attention to a new West End condominium project that features a separate door for the social housing units — a so-called “poor door.” Later that day, the Development Permit Board approved the 19-storey condominium project at 1177 […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    05-05-2015
    Real Estate Related

  3. Average Vancouver home now 12.5 per cent more expensive #LesTwarog

    Jamie HenryOther House prices in Vancouver have increased again with the average cost of a detached home rising 12.5 per cent in April to $1.08 million with the benchmark for a typical home now at $673,000. The Real Estate Board of Greater Vancouver said Monday that a low level of listings has pushed prices higher; […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    04-05-2015
    Real Estate Related

  4. Agents call for crackdown on foreign ownership

    Olivia D’OrazioOther Agents concerned with the levels of foreign ownership in Canada are pointing to a model used in Australia to keep the market from overheating. “I think it’s something to consider because real estate is meant to serve local (populations), serve people who live in Canada,” says David Oey, an agent in Toronto, adding […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    04-05-2015
    Real Estate Related

  5. Sales down, prices up: is this a stable market?

    Olivia D’OrazioOther Ahead of today’s provincial election, a new housing report is showing signs of a relatively stable market, despite lower oil values and fewer sales. According to the Edmonton Real Estate Board, sales during the month of April were down 13 per cent from the year-ago period, though median prices rose 2.6 per cent. […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    04-05-2015
    Real Estate Related

  6. Toronto is world leader for luxury real estate

    Jamie HenryOther A new report shows that Toronto is the one city with the hottest growth in  luxury real estate. Christies International’s study also revealed that the new benchmark for high-end homes is U$100 million with a record ten properties currently listed across the US at or above the 9-digit price. Toronto ranks tenth overall […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    01-05-2015
    Real Estate Related

  7. Vancouver real estate market at low risk of correction

    Despite high prices, demand for housing is supported by a growing population Emma Crawford HampelVan. Courier Vancouver has the nation’s highest real estate prices but the city’s market is unlikely to see a correction, according to the Canada Mortgage and Housing Corporation (CMHC). The risks of overvaluation, overbuilding, market overheating – defined as when demand […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    29-04-2015
    Real Estate Related

  8. Vancouver could benefit from slimmer homes

    Jamie HenryOther A detached house in Vancouver has sold for $1.35 million despite being just 3.6 metres (12 feet) wide. The Point Grey split level residence was built in the late 1980s on a half-size lot. The four-levels totalling just 945 square feet comprises master bedroom, 1.5 bathrooms, kitchen, living room and den. There’s also […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    28-04-2015
    Real Estate Related

  9. Bank of Canada’s governor Stephen Poloz rejects talk of a housing “bubble”

    Jamie HenryOther The Bank of Canada’s governor has rejected the idea that there is a housing bubble in parts of the country. Stephen Poloz was appearing before a House of Commons finance committee on Tuesday to defend the central bank’s interest rate cut and give MPs an update on the economy. Mr Poloz last appeared […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    28-04-2015
    Real Estate Related

  10. CAVEAT EMPTOR DOES NOT ALWAYS PROTECT THE SELLER #LesTwarog

    BCREAOther In a recent case, the plaintiff offered to purchase a property “subject to inspection.” A Property Disclosure Statement (PDS) accompanied the Contract of Purchase and Sale wherein the sellers had answered negatively to whether they were aware of any structural problems, moisture and/or water problems in the walls, basement or crawl space or damage […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    25-04-2015
    Real Estate Related

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