May 30, 2016
JUST SOLD: 211 9319 University, Burnaby, SFU
Another client is happy to move in SFU, UniverCity.
HARMONY!!! at The Highlands located in the heart of SFU's UniverCity, built by award winning Polygon. Get Ready to move into this Bright 2 Bedroom 2 Bath open floor plan that looks onto a private patio, great for entertaining and a gardeners dream. Cozy up with a good book in the living room and beautiful gas fireplace. 2 excellent sized bathrooms, Master Bedroom with nook space, walk-in closet and spa size soaker tub. Large functional kitchen with lots of storage and bonus of a breakfast bar, gas stove and stainless steel appliances. Harmony...
May 30, 2016
JUST SOLD: 101 9370 University, Burnaby, SFU
Garden Level Patio
Prestigious One University
Looking for outdoor space as an extension of your indoor living? Look no further! Calling all outdoor, garden and pet lovers. Enjoy the 371sqft ground level patio of this 2bed/2bath/973sqft home in the luxurious concrete tower of OneUniversity located in UniverCity; Vancouver’s premier lifestyle neighborhood. Features: espresso color floor, 9’ ceilings, shaker style cabinets, quartz counters, SS apps, excellent room separation, cozy fireplace & more. The large master has his/her walk through closet, 5 pc ensuite w/soaker &...
May 27, 2016
CLI Indicates Growing Activity in Commercial Real Estate
The BCREA Commercial Leading Indicator (CLI) pushed higher in the first quarter of 2016, reflecting a strong and growing BC economy. The CLI index posted a 1.1 point increase to 120.8, eclipsing the previous index high of 120.1 set in the first quarter of 2015.
“The BC economy is surging,” said BCREA economist Brendon Ogmundson. “The economic climate in the province is, and is expected to remain, very conducive to rising commercial real estate activity over the next year.”
After flattening out for several quarters, the trend in the...
May 25, 2016
Bank of Canada maintains overnight rate target at 1/2 per cent
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent.
The global economy is evolving largely as the Bank projected in its April Monetary Policy Report (MPR). In the United States, despite weakness in the first quarter, a number of indicators, including employment, point to a return to solid growth in 2016. Financial conditions remain accommodative, with ongoing geopolitical factors contributing to fragile market sentiment. Oil prices are higher, in part because...
May 24, 2016
Want to stay in your home forever? Be aware of the costs of home care
Home, $weet home.
That’s an appropriate headline for your financial plan if you intend to stay in your house for the long term rather than move to a retirement community. Solid arguments can be made for aging in place, but there will be ever-growing expenses. Plan for them rather than having them take you by surprise.
Baby boomers may have the most intense relationship with their homes of any generation in this country’s history. Houses give them both emotional and financial sustenance, although the latter benefit is more complex than you might think.
As described in this recent...
May 18, 2016
CMHC Expects Housing Starts to Slow in 2016 and 2017, Reflecting Significant Regional Differences
Canada Mortgage and Housing Corporation’s (CMHC) second quarter highlights important regional differences in housing activity. Housing starts at the national level are expected to slow in 2016 and 2017, while MLS® sales will reflect renewed economic growth in 2016 before falling back slightly in 2017.
- Annual housing starts are expected to range from 181,300 units to 192,300 units in 2016 and from 172,600 units to 183,000 units in 2017.
- Multiple Listing Service® (MLS®) sales are expected to range from 501,700 units to 525,400 units in 2016 before...
May 13, 2016
BC Home Sales Continue to Smash Record Book
The British Columbia Real Estate Association (BCREA) reports that a record 12,969 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in April, up 30.3 per cent from the same month last year. Home sales last month beat March’s record of 12,560 units. Total sales dollar volume was $9.64 billion in April, up 52.7 per cent compared to the previous year. The average MLS® residential price in the province was up 17.2 per cent year-over-year, to $743,640.
“Housing demand is exceptionally strong across the southern regions of...
May 10, 2016
6th Annual University Highlands Elementary Carnival
Proud Sponsor of the University Highlands Elementary School annual Carnival. The Pony rides are always a huge hit with the kids. Join us, Saturday May 14th.
May 9, 2016
Canadian Housing Starts Trend Stable in April
The trend measure of housing starts in Canada was 195,064 units in April compared to 196,103 in March, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.
“While the trend for Canada remained stable in April, there were off-setting differences at the local level, notably in Vancouver and Montréal,” said Bob Dugan, CMHC Chief Economist. “Condo construction is slowing down in Montreal as builders are managing inventories by channelling demand to units...
May 9, 2016
CMHC Releases 2015 Annual Report “Why Housing Matters”
Canada Mortgage and Housing Corporation (CMHC) today released its 2015 Annual Report titled “Why Housing Matters”.
As part of building a stronger CMHC, 2015 saw the Corporation make important progress in addressing housing market data gaps, assist 546,400 households through long-term commitments and insure mortgage loans for 304,518 homes – all of which helped Canadians meet their housing needs.
- Net Income was $1.4 billion for the year ended 31 December 2015.
- Total insurance-in-force, which represents the aggregate exposure of the mortgage loan insurance activity,...
May 3, 2016
Home sales remain at record levels across Metro Vancouver
Last month was the highest selling April on record for Metro Vancouver.*
Residential property sales in the region totalled 4,781 in April 2016, an increase of 14.4 per cent from the 4,179 sales recorded in April 2015 and a decrease of 7.6 per cent compared to March 2016 when 5,173 homes sold.
April sales were 41.7 per cent above the 10-year sales average for the month.
“Home buyer competition remains intense across the region,” Dan Morrison, REBGV president said. “Whether you’re a home buyer or seller, it’s important to work with your local REALTOR...
May 2, 2016
“Strong Evidence of Overvaluation” in Metro Vancouver Housing Market: CMHC
Housing agency changes tune on Vancouver real estate prices, while arguing that “weak evidence” of other market risk factors reduces the likelihood of a bubble
Canada’s federal housing agency has adjusted its outlook on Vancouver’s housing market, citing “strong evidence of overvaluation” and “moderate evidence of problematic conditions,” according to a quarterly report issued April 27.
The Canada Mortgage and Housing Corporation's (CMHC) spring 2016 Housing Market Assessment (HMA) report, which examines activity in the fourth quarter of 2015,...
May 2, 2016
Vancouver and BC Home Price Rises to Continue Through 2018: Central 1
2016’s real estate market already outperforming predictions, and there are no signs of a downturn, reports credit union
While many talk of a housing bubble than surely cannot be sustained, a new Central 1 Credit Union report issued April 19 predicts that current rising sales and prices will continue at least into 2018.
The Metro Vancouver real estate market so far this year has outperformed Central 1’s forecasts. The credit union now predicts sales growth of 22 per cent this year compared with 2015, and a median home price of $668,000, up 13 per cent over 2015. The report added...