Blog by Kevin Wong

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Canadian Economy Rebounds

November 30th, 2011

The Canadian economy grew at an annual pace of 3.5 per cent in the third quarter, as exports roared back after a steep contraction in the previous three-month period even as domestic demand slowed.

The report Wednesday from Statistics Canada showed sales abroad rebounded from a terrible second quarter that was marred by a host of one-time setbacks such as the effects of Japan’s nat ...

BC Commercial Leading Indicator Moves Higher

November 29th, 2011
The BCREA Commercial Leading Indicator (CLI) increased 1.1 points to 109.8 in the third quarter of 2011, reversing the downward trend observed in the first half of the year. The trend in the CLI, a more reliable indicator of future activity, points to a flattening out of commercial real estate activity over the following two to four quarters.

The strong rebound in the CLI in the th ...

Metro Vancouver Resale Market 'Balanced', Risk Of Bubble Subsiding: Conference Board Reports

November 29th, 2011

Metro Vancouver's resale housing market has moved into a “balanced” range where neither buyer nor seller have any particular advantage in negotiating a sale, according to a Conference Board of Canada report released Tuesday.

As well, the report's author said in an interview about the board's metro Resale Index – November 2011, there's no longer a threat of a real estate bubble ...

Canada May Have To Slash Interest Rates If Outlook Slides Further: OECD

November 29th, 2011

The Bank of Canada may have to slash interest rates if the country's rapidly waning economic outlook deteriorates further, the Organization for Economic Cooperation and Development warned in a report Monday.

"The risks are skewed to the downside" the Paris-based think-tank for the world's wealthy nations cautioned in its latest Economic Outlook. "The out-look for the Canadian eco ...

Growth Of Mortgage Debt Slows In Canada

November 29th, 2011

The rate at which Canadians have been racking up new mortgage debt has slowed in recent months, lending credence to the theory that the country’s housing market will hold up, Canada Mortgage and Housing Corp. suggests.

The crown corporation released its third-quarter financial results Tuesday, offering a new glimpse into the country’s mortgage market.

“The level of househol ...

Top 10 Information Sources Used by Home Buyers

November 28th, 2011
Every year the National Association of Realtors conducts a Profile of Home Buyers and Sellers to help real estate agents better understand how to reach their target market.  This years survey of over 5,500 home buyers and sellers highlighted a few changes in the way people shop for real estate.  Most notable was the fact that the number of home buyers that use the internet as a star ...

4732 BLENHEIM Street, Vancouver West, British Columbia

November 25th, 2011

I just finished uploading this House for sale, 4732 BLENHEIM Street, Vancouver West, British Columbia

Gorgeous, brand new home in Mackenzie Heights area. It offers 3174 SF of luxurious living space in 3-level living area with 35x130 lot. Spacious open layout with 5 bedrooms + den, 5.5 bathrooms. Top of the line appliances & gorgeous cabinet , A/C, HRV, security system. Great sized recreation r ...

REALTORS Care® Blanket Drive

November 16th, 2011
People depend on the REALTORS Care® Blanket Drive. What started as a compassionate offer of simple warmth to those living on the streets in Vancouver’s Downtown Eastside is now the largest, longest-running charitable blanket and warm clothing collection in the region.

Since 1995, more than 165,000 people have received clothing or a blanket from the annual drive.

Home Sales Climb Higher Outside Vancouver

November 15th, 2011
The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential unit sales in the province rose 6.5 per cent to 5,865 units in October compared to the same month last year. The average MLS® residential price was up 2.6 per cent to $535,695 last month compared to October 2010. “BC home sales rose three per cent in October compared to September on ...

British Columbia Real Estate Association: Housing Forecast (4th Quarter)

November 14th, 2011

After declining 12 per cent in 2010, residential unit sales through the Multiple Listing Service® (MLS®) in BC are forecast to rise by 3 per cent to 77,000 units in 2011 and a further 4 per cent to 80,000 units in 2012. However, BC home sales will remain relatively low by historic measures, falling short of their 10-year average of 87,600 units. While low mo ...
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