Blog by Kevin Wong

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BCREA Housing Market Update - BCREA's Mortgage Rate Forecast (Dec 2011)

December 19th, 2011

New Regulations Require Strata Owners To Think Long Term

December 19th, 2011

What's the news on the new regulations for depreciation reports and Form Bs?

In October 2009, the B.C. government passed the Strata Property Amendment Act, Bill 8. Under the act, many of the changes taking place were to be introduced by implementing regulations. Unlike Bill 8, which required the approval of the legislature, regulations are approved by provincial cabinet as an ord ...

Expect a Fairly Stable Real Estate Market in 2012

December 19th, 2011
Experts are calling for a bit of a mixed bag in Canadian real estate for 2012.  Housing market  prognosticators say next year will be marked by bursts of growth in certain hot regional markets throughout the country combined with a cooling trend in other areas, namely that of robust markets such as Toronto.

Look for mixed market signals in Canadian real estate as a market theme in 20 ...

Canada Unlikely to Enter Recession: CIBC World Markets

December 16th, 2011

Next year won’t be the best ever, from an economic point of view, but chances are Canada will not fall victim to a recession as many other nations are likely to around the globe, according to CIBC World Markets.

They suggest that, while the economy will slowdown in 2012, there is a likelihood that the continued low interest rate environment will do much to buoy the economy, and keep ...

Déjà Vu in November Housing Market

December 14th, 2011
The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential unit sales in the province remained relatively unchanged in November compared to the same month last year. A total of 5,640 units were sold last month compared to 5,647 units in November 2010. The average MLS® residential price was up 1.1 per cent to $529,140 in November comp ...

Rental Market Report: Vancouver

December 14th, 2011
Vancouver Highlights
  • „„Vacancy rates edged down from 1.9 in October 2010 to 1.4 per cent inOctober 2011 for purpose-built rental apartments.
  • „„The average rate of rent increase between October 2010 and October 2011 was 2.3 per cent, similar to the rate of inflation.
  • „„Most of the increase in the stock of rental units was from secondary market rental condominiums.
  • Vacancy rat ...

China's Housing Bubble Is Losing Air?

December 13th, 2011

Home prices nationwide declined in November for the third straight month, according to an index of values in 100 major cities compiled by the China Index Academy, an indep ...

November 2011 Housing Market Update Video: REBGV

December 7th, 2011

801 2108 38TH Ave W, Vancouver West, British Columbia

December 3rd, 2011

I just finished uploading this Condo for sale, 801 2108 38TH Ave W, Vancouver West, British Columbia

Rare and fabulous 3 bedroom, 3 bath, almost 2,100 sq.ft, 3 parking spots, one level living in exclusive Wilshire Bldg. in the heart of Kerrisdale. Great mountain views from large livingroom with gas fireplace, spacious dining room, new hardwood floors throughout, updated kitchen with breakfa ...

Lack of HST Transitional Rules, Not A "Bubble", Is Affecting Vancouver Real Estate

December 2nd, 2011

There is no real estate bubble in Vancouver but, according to a panel of speakers at a recent Board of Trade event, a lack of clear transitional rules leading up to the return of the provincial sales tax is having a negative effect on the real estate industry.

That was the message delivered by the panel of three real estate industry experts, including the Board’s President-Elect Eu ...

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