Blog by Kevin Wong

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BC Court Rules Against Tenant In Foreclosed Home

August 29th, 2011

Faced with foreclosure recently, a British Columbia property owner vacated his property but then did something more unusual – rented out the property to a tenant as the bank took over ownership. While successful at first, the strategy eventually panned out when the bank sold the property and the tenant refused to vacate.

It led to the February ruling by the British Columbia Supreme C ...

B.C. Pension Fund Launches Downtown Vancouver Office Project

August 29th, 2011
The British Columbia Investment Management Corp. (bcIMC) is officially launching construction of its long-discussed 24-storey office tower at 745 Thurlow Street in downtown Vancouver with a scheduled completion date of spring 2015.

bcIMC is B.C.'s largest public pension manager with $88.7 billion under management and it will build the 400,000-square-foot building with developer Ben ...

B.C. Voters Opt To Scrap HST

August 26th, 2011
British Columbians have voted to scrap the Harmonized Sales Tax, Elections BC announced Friday, meaning the province will now begin a transition back to the former PST.

54.73 per cent of people voted to scrap the HST in the referendum, Elections BC said as it released official results, with 45.27 per cent voting to keep it in place.

The result is a victory for former premier Bill ...

B.C.'s Home Sales, Property Values To Slow As Job Growth Ebbs: BCREA

August 26th, 2011
Slower job growth in British Columbia's economy will mean slower increases in home sales and property values through to 2012, the B.C. Real Estate Association said Thursday.

And by the end of 2012, the association expects the high-flying prices in some of B.C.'s bigger markets to show small declines.

Home sales through the realtor-controlled Multiple Listing Service should hit 74,6 ...

Many B.C. Homeowners Lack ‘Shock Protection’ Insurance

August 26th, 2011
If a major earthquake strikes B.C., many insured homeowners could be hit hard financially due to damage caused by the ground shaking, including cracked foundations, collapsed walls or sunken roofs.

Roughly 50 per cent of insured homeowners in earthquake-prone areas of B.C. have purchased earthquake insurance on top of their standard home insurance, said Chuck Byrne, executive direc ...

Housing Correction Not In The Cards, According To CMHC Report

August 25th, 2011

A much anticipated correction in the Canadian housing market is not in the cards, according to a report by the Canada Mortgage and Housing Corp.

In its third-quarter market outlook, the national housing agency forecasts the market will ease slightly but "remain steady"this year and next.

"Housing starts have been strong in the last few months, but are forecast to moderate clos ...

Vancouver's Pricey Market ‘In Dangerous Territory,’ Makes Home Ownership A Dream: Report

August 22nd, 2011
Metro Vancouver's lofty home prices have made it virtually impossible for a typical family to purchase a detached bungalow with a standard down payment, according to a report by the Royal Bank of Canada released Monday.

That is one of many conclusions contained in a survey that says housing in Canada became harder to afford in the second quarter, with Vancouver's hefty price increa ...

Oakridge VW Open House!

August 20th, 2011

We are proud to announce that this Aug 20th, 2:00 PM to 4:00 PM we will be hosting an Open House at 489 43RD Ave W in the Oakridge VW neighborhood, Vancouver West. This is an opportunity to visit this excellent House for sale in beautiful Oakridge VW.

Please come with any questions you may have. In the meantime you can take a virtual tour of this Oakridge VW House for sale.

As always please ...

CREA Updates Resale Housing Forecast

August 16th, 2011
The Canadian Real Estate Association (CREA) has revised its forecast for home sales activity via the Multiple Listing Service® (MLS®)  Systems of Canadian real estate Boards and Associations for 2011 and 2012.

Overall, sales activity and prices remained stronger than expected in the second quarter. Sales momentum was also better than expected heading into the third quarter. As a result, ...

Canadian Home Sales Stable In July

August 16th, 2011
According to statistics1 released today by The

Canadian Real Estate Association (CREA), national resale housing activity was stable on a month-to-month basis in July following an uptick in June.

• Sales activity was stable from June to July, but posted a big year-over-year gain due to weakened demand in July 2010.
• Year-to-date sales continue to run in line with the ten-year ...

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