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  1. New home sales slump 67% amid buyer caution, low supply

    Steve RandallREP The sale of new homes in the Greater Toronto Area in March was down sharply with just 1,960 sales, including 1,649 condos. The drop was 67% below sales a year earlier and 21% below the 10-year average, the Building Industry & Land Development Association (BILD) reported Tuesday. The introduction of tighter mortgage rules […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    24-04-2018
    Real Estate Related

  2. Mortgage rules contributed to “lacklustre” start to 2018 says Poloz

    BoC is forecasting growth of 2% for 2018 Steve RandallCanadian Real Estate Wealth The tightened mortgage underwriting rules which came into effect at the start of the year have contributed to a slower start for the Canadian economy. Bank of Canada governor Stephen Poloz told the House of Commons Standing Committee on Finance that two […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    24-04-2018
    Real Estate Related

  3. Appeal launched after Murrayville condo pre-sale contracts cancelled by court decision

    Condo pre-sale buyers fight for their units Dan Fumano The Province A group of dissatisfied would-be condo-buyers are appealing a B.C. Supreme Court decision to cancel pre-sale contracts for an embattled Langley development. A B.C. Supreme Court judge ruled this month that 40 pre-sale contracts, entered into over the last three years by dozens of people […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    24-04-2018
    Real Estate Related

  4. Abbotsford, Mission emerge as commercial power centres

    Cities to the east of the Lower Mainland are easing the growing pressure for commercial and residential demand in Metro Vancouver Western Investor The latest residential data underlines the strength of the economy of the far east of the Lower Mainland as Abbotsford and Mission report 1,777 new homes under construction in March. Abbotsford reported […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    23-04-2018
    Real Estate Related

  5. Vancouver turns vacancies into cash cow

    Empty home tax to bring $30m in first year Linda GivetashCanadian Real Estate Wealth The city of Vancouver’s new empty homes tax is expected to bring in $30 million in revenue in its first year. Vancouver Mayor Gregor Robertson said $17 million has already been collected from owners of almost 8,500 properties that were determined […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    23-04-2018
    Real Estate Related

  6. Alternative lender thriving on new market realities

    Credit unions picking up the bank rejects Allison McNeelyCanadian Real Estate Wealth When prospective borrowers sit down in the boardroom to negotiate a loan at one of Canada’s largest alternative lenders, they’re greeted by a sculpture of a gun with its barrel twisted back toward the shooter. “We tell the borrowers if you are dishonest […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    22-04-2018
    Real Estate Related

  7. Don’t base child and spousal support on my million-dollar income, B.C. realtor tells divorce court

    High-end West Van realtor worries family lifestyle is now unsustainable, judgment reveals Bethany Lindsay other A real estate agent from West Vancouver has brought housing market uncertainty into his divorce proceedings, arguing a slowdown caused by government policies has made his family’s jet-setting lifestyle unsustainable. Jason Soprovich’s realty company, of which he is the sole […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    22-04-2018
    Real Estate Related

  8. Vancouver office vacancy nosedives, while Calgary’s skyrockets

    Despite a ballooning vacancy rate, Calgary’s office market is showing positive signs of recovery Tanya CommissoWestern Investor All of Western Canada’s office markets have reported an increase in leasing activity, reflected in decreasing vacancy rates in Vancouver and positive absorption in Alberta markets. However, falling demand in Metro Calgary has led to compressed rental rates. […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    22-04-2018
    Real Estate Related

  9. Presale condo cancellations also apparent in Vancouver

    Developers cancel pre-sale agreements Ephraim VecinaMortgage Broker News Amid reports about the rash of presale condominium cancellations in Toronto, a similar phenomenon has also become apparent in Canada’s other red-hot market. In Vancouver, two high-profile examples of such projects that were cancelled for various reasons include Vivagrand’s 72-unit Langara West situated at Cambie Street, and […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    22-04-2018
    Real Estate Related

  10. Lily Terrace 23203 Francis Avenue For Langley 24 one and two bedroom homes by Lanstone Homes

    Boutique build adds modern touch at Fort Langley?s Lily Terrace Michael BernardThe Vancouver Sun Project: Lily Terrace Project Location: 23203 Francis Ave., Fort Langley Project Scope: 24 one- and two-bedroom residences ranging from 1,015 sq. ft. to 1,659 sq. ft. with a mix of heritage elements in historic village of Fort Langley. An easy walk […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    20-04-2018
    Real Estate Related

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