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Blog by Kevin Wong

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Creating Decor With The Touch Of An App

March 31st, 2011

Do you look forward to seeing the cover of your favourite home and décor magazine every month?

Do you drool over design and stand in awe of architecture? Is your small talk about big ideas for your house?

If you answered yes to any of the above, and you have just as much affection for your iPad or iPhone, you have the chance to combine the two passions.

So wrestle your kids away from t ...

Home-Buying Help In Your Pocket

March 31st, 2011

Mobile apps can be used for just about anything these days. From remotely starting a car to filming and editing entire feature-length films using a smartphone, there are even apps out there to help buy, sell or renovate a home.

With spring officially arriving on Monday, the busiest time of year for the real estate industry is now here. According to the Canadian Real Estate Association, ...

BMO: Many Canadians Looking To U.S. For Buying Properties

March 30th, 2011
Interested in buying some property in the U.S.?

About one in five Canadians are interested in buying some property in the U.S., according to survey results released by the Bank of Montreal on Friday.

The bank said that housing prices in the U.S., overall, have declined about 30 per cent over the last four years. Some of the hot spots Canadians are likely to have visited in recent mon ...

Royal Bank Cuts Mortgage Rates

March 23rd, 2011

Heightened global instability, including the disaster in Japan, has granted a temporary reprieve for Canadians who need to obtain or renew home mortgages.

Royal Bank of Canada, the country’s largest bank, cut mortgage rates on Tuesday in a move that marks an unexpected turning point.

It was just under a year ago that lenders finally initiated what was expected to be a re ...

U.S. New-Home Sales Plunge To Record Low

March 23rd, 2011
WASHINGTON— The Associated Press

Buyers of new homes plunged in February to the fewest on records dating back nearly half a century, a dismal sign for an already-weak housing market.

New-home sales fell 16.9 per cent last month to a seasonally adjusted annual rate of 250,000 homes, the Commerce Department said Wednesday. It's the third straight monthly decline and far bel ...

ecoENERGY Gets $400 Million Boost

March 23rd, 2011
The Canadian government said this week it will continue its financial backing of homeowners retrofitting their homes to save on energy costs.

Energy-saving home renovations often pay for themselves, advocates say, but they have been even more appealing with recent government funding.

Unveiling the budget Tuesday, Finance Minister Jim Flaherty confirmed the ecoENERGY Retrofit-Hom ...

CREA: Vancouver Market Cushions Canada's Home Resale Dip In February

March 15th, 2011

Canadian home resales dropped in February but a show of strength in the Vancouver market cushioned the fall, data from the Canadian Real Estate Association (CREA) showed on Tuesday.

Overall, 38,699 homes changed hands in February, down 1.6 percent from January, while the national average price jumped 8.8 percent year-over-year to C$365,192 ($368,881).

But because of the strength i ...

Vancouver's Luxury Home Sales Surge, Largely Due To Influx Of Offshore Money

March 14th, 2011
If you think Vancouver's housing prices are overdue for a major price adjustment, tell that to the surging number of luxury home buyers.

According to MLS statistics provided by Macdonald Realty, a record 375 homes -including nearly 50 condos -sold for over $3 million in 2010, breaking the record of 209 set in 2009 and more than double the 167 sold in 2008. Of those, 73 homes sold for ...

B.C.'s Average MLS Price Up 18% In February: BCREA

March 14th, 2011
The average price of a home in B.C. was up 18 per cent in February compared to the same month last year, according to the B.C. Real Estate Association.

The price surge was largely due to sales in Metro Vancouver, the BCREA said in a survey, with the average residential price climbing 19.4 per cent, compared to February 2010, to $791,000 from $663,000.

“The surge in consumer deman ...

Housing Starts Drop In B.C., But Rise In Metro Vancouver: CMHC Report

March 9th, 2011
Housing starts were down in B.C. in February, with uncertainty over the HST being blamed for part of the problem.

"I'm not surprised the starts are down, but I'm surprised they're down that much," M.J. Whitemarsh, CEO of the Canadian Home Builders' Association of B.C., said in an interview Tuesday after the Canada Mortgage and Housing Corp. released a report showing starts were down ...

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