All of B.C. will be hit but quick recovery seen, says BC Real Estate Association Carla Wilson Western Investor B.C.’s housing market will take an initial a sharp dive due to the coronavirus-driven recession, but it is expected to recover next year, according to the B.C. Estate Association (BCREA). Sales throughout the province are forecast […]
BCREA Market Intelligence Report BCREA Summary Findings: The 2020 COVID-19 driven recession willbe deep, though the duration may be shorter than past recessions We expect that home sales will post an initial sharp decline as households and the real estate sector adhere to social distancing As measures implemented to mitigate the spread of COVID-19 are […]
601-unit MF share deal was completed between existing owners in 2019 Western Investor The landmark Beach Avenue four-building portfolio in Vancouver’s English Bay has been transferred between existing owners of an investment trust in a $305 million agreement, according to Mark Goodman who brokered the arrangement with fellow Goodman Commercial Inc. principal Cynthia Jagger. The […]
Showings and open houses are not allowed but real estate agents are learning to adapt John MackieThe Province In early April, Rosemary Bartram and Scott Plumbe decided to put their house on the market, in the midst of the worst pandemic in a century. They had been preparing to put it up for sale this […]
Should BC government use hotels and motels for homeless Lindsay Kline Western Investor Victoria Mayor Lisa Helps wants the B.C. government to use its emergency powers to requisition empty hotel and motel rooms for the homeless during the COVID-19 outbreak. On April 16 Victoria council passed a motion urging the provincial government to use its […]
Buyers should beware but for the moment they?re looking good Peter Hodson The Vancouver Sun Many years ago, in the last recession, I penned a column here that set up a ‘survival’ portfolio. It held shares in a water company, a mattress company, a company that makes oxygen tanks and so on. Results were pretty […]
Legal question about buyer failing to close Shaneka Shaw Taylor & Eugenia BashuraREM When a buyer fails to close a real estate transaction and the seller is awarded damages, should the seller credit the deposit to the damages award or should the seller be allowed to keep it in addition to the award? The Court […]
Single-family home building down across the nation Candyd Mendozaother With no signs of the coronavirus crisis easing up soon, builder confidence in the market for newly-built single-family homes fell into negative territory in April. The latest National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI), which gauges builders’ perceptions on the housing market, […]
Home prices predicted to drop only 3% Ephraim VecinaMortgage Broker News Despite the ravages of the pandemic, Canadian housing prices will prove remarkably robust, according to Royal LePage. In its recent analysis, Royal LePage projected that the widespread economic weakness brought about by COVID-19 will pull down Canada’s average housing price by just 3% this […]