As announced in December, a new national home price index will launch in February. This index will replace the MLS®Link Housing Price Index, which has been used by Greater Vancouver and Fraser Valley REALTORS® since the mid 1990s.
The new index was developed by five of Canada’s largest real estate boards – Greater Vancouver, Fraser ...
BC has experienced balanced housing market conditions for over a year, and can expect to see more of the same in 2012, according to CMHC’s BC regional economist Carol Frketich and senior market analyst Robyn Adamache. Frketich and Adamache spoke at the CMHC Housing Outlook Conference in Vancouver, November 16.
One of the in ...
Cheap money fuelled another buoyant year for real estate in 2011.
That helped housing values climb a wall of worry (prices rose another 4.6% Y/Y as of November) despite numerous predictions of a correction. Mortgage balances went along for the ride, growing another 7%.
2011 was a year marked by new mortgage regulations and a rate market that continually surpris ...
Federal Finance Minister Jim Flaherty announced this morning that homebuyers looking to qualify for a government-backed mortgage after April 19, 2010 will need to meet three new requirements. The changes revealed this morning include:
• Require that all borrowers meet the standards for a five-year fixed rate mortgage even if they choose a mortgage with a lower interest rate and shorter term.
...Canadians dug deep into their wallets for victims of the Haitian earthquake at the Canada for Haiti telethon Friday night.
Phone lines were soon jammed at the telethon designed to raise money for a group of Canadian charities working in Haiti, created jointly by CBC, CTV and Global.
About 200,000 people are estimated to have died in the 7.0-magnitude quake and about two million Haitians were ...
Obtaining appropriate property insurance is a very prudent idea, particularly when strata property is involved. As an owner of a strata lot you need to be aware that there will be 2 policies involved. One must be purchased by the Strata Corporation (on behalf of all the owners), which is mandated & regulated by the Strata Property Act & Regulations. The second is the owner's policy for their ...
Title insurance is with us & many of our buyers are asking questions about it. To fully understand if there are actual benefits for your purchase a good understanding of how our BC Land Title system works is helpful. The article below does a good job of this.
BC's "Torrens" based title system with it's principle of "Indefeasable Title" has been upheld in the courts against fraudulent title ...
Since April 01, 2009 Home Inspectors performing residential inspections in BC require licensing with Consumer Protection BC. Inspections on commercial properties are exempt.
Consumer Protection BC information about home inspectors can be viewed here. Home inspectors must currently meet the qualifications of one of the following three associations:
Applied Science Technologists and Technici ...
Population Significance:
People Power and Affordability
It’s been a difficult twelve months for BC’s housing markets. No question. However, while we wait to hear the latest unemployment figures or government stimulus packages it might be fun, or perhaps even refreshing, to take a look at two things that are working in BC’s favour. The first is population growth, without which the housing stoc ...