January 2009

Two Reasons why First Time Buyers are winners in Vancouver real estate market

by Maggie Chandler January 30, 2009

Typically as interest rates decrease, price points should increase. As buying power increases. Right now we have rates moving down along with easing prices. When interest rates are low you can qualify for a larger loan. When rates move up you qualify for less. This is an opportunity for first time buyers to enter the market. …

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Canada Real Estate Roundup

by Maggie Chandler January 29, 2009

Take a look at what’s happening in the Canada real estate market. The big cities of Toronto, Vancouver, Calgary and Edmonton are down but Montreal bucks the trend, as does all of the Maritime Provinces and Ottawa and Winnipeg. The following is a release by CREA, you can hold your mouse over a specific city and …

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Federal Budget Helps Canadian Homeowners

by Maggie Chandler January 28, 2009

Yesterday, federal Finance Minister Jim Flaherty tabled the federal budget. Several measures affect Canada’s housing and mortgage industry in a positive manner:

Home renovation tax credit:
Homeowners can claim a non-refundable 15% tax credit on eligible home renovation costs incurred and paid after January 27, 2009, and before February 1, 2010, under agreements entered into after January …

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Wordless Wednesdays

by Maggie Chandler January 28, 2009 Wordless Wednesdays

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Vancouver Real Estate Analysis for False Creek North December 2008

by Maggie Chandler January 26, 2009 False Creek North

Vancouver real estate analysis for False Creek North in December 2008 saw listings down from 246 in November to 229. Sales flat at 6. Days on the market up from 58 to 61 .The average selling price increased from $816,605 to $947,259. The average supply of condos in this waterfront hood dropped from 41 months to 38. No particular price range doing better than …

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Vancouver Real Estate Downtown Analysis December 2008

by Maggie Chandler January 24, 2009 Downtown

Vancouver’s Downtown condo market saw listings drop substantially in December, over November. Over 200 condos expired and came off the market. Sales flat. Average days on the market for condos that sold increased substantially from 48 in November to 78. The average price for Downtown condos that sold was down slightly from $435,088 to $424,715. The average $ pr sq ft for condos …

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British Columbia Real Estate Sales Decline by 33% in 2008

by Maggie Chandler January 24, 2009

Vancouver, BC – January 12, 2009. British Columbia Real Estate Association (BCREA) reports residential sales dollar volume on the Multiple Listing Service® (MLS®) in BC declined
31 per cent to $31.3 billion in 2008, compared to 2007. Residential unit sales declined 33 per cent to 68,923 units last year, the lowest level since 2000, when …

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Vancouver Real Estate Analysis for West End December 2008

by Maggie Chandler January 22, 2009 West End

Vancouver real estate in the West End saw December listings down to 242 from 281 in November, having reached a record high for the year in November. Sales were up from 15 to 21 , having reached a record low for the year in November. The days on the market for condos that sold was up from 48 to 53, which …

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Bank of Canada cuts policy rate by another 50 basis points to 1%

by Maggie Chandler January 22, 2009

The Bank of Canada cut the overnight rate by an as-expected 50 basis points to 1% and reiterated that the global economic backdrop “has deteriorated.” The Bank cut the forecast for Canadian economic growth and now expects the economy to contract by 1.2% in 2009, a marked adjustment to its October forecast for the economy to …

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