Home buyer demand depends on property type

Attached and apartment homes are in demand across Metro Vancouver while detached home buyers are facing less competition today. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,818 in January 2018, a 19.4 per cent increase from the 1,523 sales recorded in January 2017, and a [...]

Metro Vancouver continues to experience above-average demand and below-average supply

Metro Vancouver* saw modest home listing changes and steady demand in November. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,795 in November 2017, a 26.2 per cent increase from the 2,214 sales recorded in November 2016, and a 7.5 per cent decrease compared to October [...]

Metro Vancouver home sales return to typical August levels

For the second straight month, home buyer demand in Metro Vancouver* moved off of the record-breaking pace seen earlier this year and returned to more typical levels.The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver totalled 2,489 in August 2016, a decline of 26 per cent compared to the 3,362 sales in August 2015

Summer heat doesn’t slow home buyer activity

Metro Vancouver home sales were more than a third above the 10-year average in July, while the number of homes listed for sale continues to trend below recent years. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver* reached 3,978 on the Multiple Listing Service® (MLS®) in July 2015.

Metro Vancouver home sales set record pace in June

Last month was the highest selling June, and the second highest overall monthly total, on record for the Real Estate Board of Greater Vancouver (REBGV).

The REBGV reports that residential property sales in Metro Vancouver* reached 4,375 on the Multiple Listing Service® (MLS®) in June 2015. This represents a 28.4 per cent increase compared to the 3,406 sales recorded in June 2014, and an increase of 7.9 per cent compared to the 4,056 sales in May 2015.

Last month’s sales were 29.1 per cent above the 10-year sales average for the month. It’s the fourth straight month with over 4,000 sales, which is a first in the REBGV’s history. The previous highest number of residential home sales was 4,434, recorded in May 2005.

“Demand in our detached home market continues to drive activity across Metro Vancouver,” Darcy McLeod, REBGV president said. “There were more detached home sales in the region last month than we’ve seen […]

Home buyer demand outpacing supply across the Metro Vancouver housing market

Strong home buyer demand coupled with below average home listing activity has created seller’s market conditions within the Metro Vancouver* housing market.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached 4,179 on the Multiple Listing Service® (MLS®) in April 2015. This represents a 37 per cent increase compared to the 3,050 sales recorded in April 2014, and a 2.9 per cent increase compared to the 4,060 sales in March 2015.

Last month’s sales were 29.3 per cent above the 10-year sales average for the month.

“The supply of homes for sale today in the region is not meeting the demand we’re seeing from home buyers. This is putting upward pressure on prices, particularly in the detached home market,” Darcy McLeod, REBGV president said.

New listings for detached, attached and apartment properties in Metro Vancouver totalled 5,897 in April. This represents a 0.9 per cent decrease compared […]

Home sale and listing activity reach historical norms in 2014

It was a typical year for the Metro Vancouver housing market in certain respects. The region’s home sale and listing totals for 2014 both rank fifth when compared against the past 10 years of activity, while home prices increased.

The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2014 reached 33,116, a 16.1 per cent increase from the 28,524 sales recorded in 2013, and a 32.3 per cent increase over the 25,032 residential sales in 2012.

The number of residential properties listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver increased 2.4 per cent in 2014 to 56,066 compared to the 54,742 properties listed in 2013. Looking back further, last year’s total represents a four per cent decline compared to the 58,379 residential properties listed for sale in 2012.

“While home buyer and seller activity created balanced market conditions within the region, […]

Metro Vancouver home sales above average in October

Home sales in the Metro Vancouver* housing market continue to outpace long-term averages for this time of year.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 3,057 on the Multiple Listing Service® (MLS®) in October 2014. This represents a 14.9 per cent increase compared to the 2,661 sales in October 2013, and a 4.6 per cent increase over the 2,922 sales in September 2014.
 
Last month’s sales were 16.6 per cent above the 10-year sales average for October.

“We’ve seen strong and consistent demand from home buyers in Metro Vancouver throughout this year. This has led to steady increases in home prices of between four and eight per cent depending on the property,” said REBGV president Ray Harris.

New listings for detached, attached and apartment properties in Metro Vancouver totalled 4,487 in October. This represents a four per cent increase compared to the 4,315 new […]

Buyer demand increases while home prices edge up

The Greater Vancouver housing market enters the summer season with home buyer activity on the rise.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 3,406 on the Multiple Listing Service® (MLS®) in June 2014. This represents a 28.9 per cent increase compared to the 2,642 sales recorded in June 2013, and a 3.7 per cent increase compared to the 3,286 sales in May 2014.

Last month’s sales were 0.6 per cent above the 10-year sales average for June of 3,386.

“Competition amongst home buyers today is as strong as it’s been in the region since 2011,” Ray Harris, REBGV president said.

The sales-to-active-listings ratio currently sits at 21.3 per cent in Greater Vancouver, which is the highest this measure has been since June 2011.

“Over the last three years, we’ve seen changes in demand yet home prices at the regional level have remained relative stability,” Harris […]

Spring buyers and sellers emerge in the Greater Vancouver housing market

Home buyers and sellers became more active in the Greater Vancouver housing market in April.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 3,050 on the Multiple Listing Service® (MLS®) in April 2014. This represents a 16.1 per cent increase compared to the 2,627 sales recorded in April 2013, and a 15.5 per cent increase compared to the 2,641 sales in March 2014.

Last month’s sales were 5.2 per cent below the 10-year sales average for April of 3,217.

The sales-to-active-listings ratio currently sits at 19.7 per cent in Greater Vancouver, which is the highest this measure has been since June 2011.

“We saw steady increases in home seller and buyer activity in April, which is typically the case in the spring months,” Ray Harris, REBGV president said. “People often look to buy or sell their home this time of year as the school year draws […]

Home sale and listing activity continue to chart a steady path for the region’s housing market

March home sales in Greater Vancouver outpaced last year’s total yet lagged the region’s historical average for the month.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,641 on the Multiple Listing Service® (MLS®) in March 2014. This represents a 12.5 per cent increase compared to the 2,347 sales recorded in March 2013, and a 4.4 per cent increase compared to the 2,530 sales in February 2014.

Last month’s sales were 17.2 per cent below the 10-year sales average for March of 3,190.

The sales-to-active-listings ratio currently sits at 18.2 per cent in Greater Vancouver, which is unchanged from last month.

“We continue to see steady and stable market conditions across the Greater Vancouver housing market,” said Ray Harris, REBGV president. “There has been a consistent balance between home seller supply and home buyer demand in our marketplace over the last year.”

New listings for detached, […]

Home sales and listings continue to follow historical averages

In the first two months of 2014, the Greater Vancouver housing market has maintained the steady pace set throughout 2013.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,530 on the Multiple Listing Service® (MLS®) in February 2014. This represents a 40.8 per cent increase compared to the 1,797 sales recorded in February 2013, and a 43.8 per cent increase compared to the 1,760 sales in January 2014.

Last month’s sales total mirrors the 10-year sales average for February of 2,547, with just 17 sales separating the two figures.

The sales-to-active-listings ratio currently sits at 18.9 per cent in Greater Vancouver, a 4.9 per cent increase from last month.

“Home buyer demand picked up in February, which is consistent with typical seasonal patterns in our housing market,” said Sandra Wyant, REBGV president. “We typically see home buyers become more active in and around the spring months.”

[…]

Government reduces tax burden on first-time buyers

Government reduces tax burden on first-time buyers
First-time home buyers received welcome news in today’s provincial budget. Any REALTORS® currently working with first-time buyers will want to share this news with them as soon as possible.

The government has announced, effective February 19, 2014, under the Property Transfer Tax (PTT) First-Time Home Buyers’ Exemption program, qualifying first-time buyers can buy a home worth up to $475,000. The previous threshold was $425,000.

The partial exemption continues and will apply to homes valued between $475,000 and $500,000.

With this change, the government estimates 1,700 additional first-time buyers will annually be eligible to save up to $7,500 in PTT when they buy their home.

The government estimates this measure will cost $8 million in lost tax revenue each year.

The Real Estate Board, together with BC Real Estate Association, has actively lobbied to make home ownership more affordable for first-time home buyers. This increase in the threshold […]

Steady trends continue in the Greater Vancouver housing market

The first month of 2014 saw home sale and listing totals outpace historical averages in the Greater Vancouver housing market.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 1,760 on the Multiple Listing Service® (MLS®) in January 2014. This represents a 30.3 per cent increase compared to the 1,351 sales recorded in January 2013, and a 9.9 per cent decline compared to the 1,953 sales in December 2013.

Last month’s sales were 7.2 per cent above the 10-year sales average for the month.

“The Greater Vancouver housing market has been in a balanced market for nearly a year. This has meant steady home sale and listing activity accompanied by stable home prices,” Sandra Wyant, REBGV president said.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,345 in January. This represents a 4.2 per cent increase compared to the 5,128 new listings reported […]

Metro Vancouver housing market characterized by modest home sale and price increases in 2013

The Greater Vancouver housing market maintained a consistent balance between demand and supply throughout 2013.

The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2013 reached 28,524, a 14 per cent increase from the 25,032 sales recorded in 2012, and an 11.9 per cent decrease from the 32,390 residential sales in 2011.

“Home sales quietly improved last year compared to 2012, although the volume of activity didn’t compare to some of the record-breaking years we experienced over the last decade,” Sandra Wyant, REBGV president said.

Last year’s home sale total ranks as the third lowest annual total for the region in the last ten years, according to the region’s Multiple Listing Service® (MLS®).

The number of residential properties listed for sale on the MLS® in Metro Vancouver declined 6.2 per cent in 2013 to 54,742 compared to the 58,379 properties listed in 2012. Looking back […]

Steady trends continue in the Greater Vancouver housing market

Consistent home sale and listing activity has allowed balanced market conditions to prevail in the Greater Vancouver housing market for most of 2013.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,321 on the Multiple Listing Service® (MLS®) in November 2013. This represents a 37.7 per cent increase compared to the 1,686 sales recorded in November 2012, and a 12.8 per cent decline compared to the 2,661 sales in October 2013.

Last month’s sales were 1.2 per cent below the 10-year sales average for the month, while new listings were 1.5 per cent above the 10-year November average.

“We’ve seen steady and consistent trends the Greater Vancouver housing market for much of this year,” Sandra Wyant, REBGV president said. “This year’s activity has resulted in gradual and modest increases in home prices of approximately one per cent over the last 12 months in the region.”

New […]

Balanced conditions continue in the Greater Vancouver housing market

Home buyer and seller activity continues to mirror historical averages in the Greater Vancouver housing market. These trends have helped keep the region in a balanced state for the last nine months.

The Real Estate Board of Greater Vancouver reports that residential property sales in Greater Vancouver reached 2,661 on the Multiple Listing Service® (MLS®) in October 2013. This is a 37.8 per cent increase compared to the 1,931 sales recorded in October 2012, and a 7.2 per cent increase from the 2,483 sales recorded in September 2013.

New listings for attached, detached and apartment properties in Greater Vancouver totaled 4,315 in October 2013. This represents a 0.2 per cent decline from the 4,323 new listings reported in October 2012, and a decrease of 14.2 per cent compared to the 5,030 new listings reported in September of this year.

Last month’s sales were 2.8 per cent above the 10-year sales average for the month, while […]

The summer housing market remains active in Greater Vancouver

August activity in the Greater Vancouver housing market finished well above last year’s pace and slightly below the 10-year average for the month.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,514 on the Multiple Listing Service® (MLS®) in August 2013. This represents a 52.5 per cent increase compared to the 1,649 sales recorded in August 2012, and a 14.7 per cent decline compared to the 2,946 sales in July 2013.

Last month’s sales were 4.6 per cent below the 10-year sales average for the month.

“We’ve seen a healthy amount of demand in the marketplace this summer compared to the number of homes listed for sale,” Sandra Wyant, REBGV president said. “The market today is much stronger than we saw last year and is consistent with our long-term averages for this time of year.”

New listings for detached, attached and apartment properties in Greater Vancouver […]

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当美籍华人刘力明和张思珍夫妇的两个女儿先后考上哈佛大学时,朋友、同事、邻居一点儿也不惊讶。

刘家的婷娜和颖娜相差一岁,都长得漂亮,且样样出色:文理兼优,不仅获得过科学论文奖,还获得过联合国作文竞赛奖;

音乐好,姐妹俩都拿到了英国皇家音乐学院颁发的钢琴八级证书,婷娜还是中学交响乐团的钢琴主奏,颖娜则是第一小提琴手;

体育好,都是中学网球队队长;

口才好、领导能力强,演讲获奖,

且都在多个社团中担任要职……姐妹俩名目繁多的获奖证书,就有厚厚的一大沓。

婷娜获得英特尔科学竞赛半决赛奖时,希拉里特意写信表示祝贺,而且作为对这位天才少年的奖励,有一颗小行星以她的名字命名;

美国大学委员会2007年授予婷娜“美国国家杰出才能奖学金”和“全美AP杰出学者”称号……

刘力明,张思珍夫妇强调说 哈佛不会完全凭分数来决定是否录取一个学生。达到分数线,这条“鱼”才能进他们的大池子,哈佛还要通过审查每个申请者的高中总成绩和课程的难易程度、课外活动及其成就、领导能力、社区义务服务等,对池子里的“鱼”一条一条认真甄选:这条“鱼”有创造性思维,那条“鱼”有领导能力,这条“鱼”在某一学科有发展潜力,那条“鱼”有爱心……最后只有7%~9%的申请者能成为哈佛的学生。

   成功从来不是天上掉下的馅饼。刘力明和张思珍研读过许多教育书籍,并以哈佛等名校录取学生的标准来培育孩子

——成绩好仅仅是第一步,更重要的是培育孩子的创造能力、领导能力、人际沟通能力……

文章引自tricitychinese.ca

Spring delivers greater balance to Greater Vancouver housing market

A closer relationship between home buyer demand and the supply of homes for sale has been having a stabilizing impact on home prices in the Greater Vancouver housing market over the last three months.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,627 on the Multiple Listing Service® (MLS®) in April 2013. This represents a 6.1 per cent decrease compared to the 2,799 sales recorded in April 2012, and an 11.9 per cent increase compared to the 2,347 sales in March 2013.

Last month’s sales equate to the lowest April total in the region since 2001 and 20.9 per cent below the 10-year sales average for the month.

“While the number of home sales remains below average, properties that are priced right are selling and we’re seeing greater balance between buyer demand and the number of homes listed for sale. This is having a steadying […]

Foxridge’s Cobblestone homes sell the BEST

Foxridge Homes在Burke Mountain上开发了一批小户型独立屋,室内面积由2600-3000尺左右,占地4000尺左右。大门朝北,主要生活空间面南,今天去他们的展示屋,最受欢迎的Cobblestone户型仅剩下最后一套了, 而且价格也比半年前有接近5%的涨幅。这些房子受到买房者的青睐是因为它合理的利用空间,面积虽小,却具备了独立屋所有的功能,南北通透,复合我们中国人的生活习惯,价格合理,全新房子70来万,在大温其它地区基本是不可能的。所以,在短短的几个月时间,购买的人群蜂拥而至,目前这种小户型独立屋已经所剩无几。
分析一下这些房子的优缺点
优点:
1 朝向好,采光好
2 结构合理: 基本没有浪费空间,正层进门左边办公室,右边衣柜和洗手间,直走左边是楼梯,右边厨房,带窗,正层最南端为客厅及餐厅,连接室外阳台;楼上为三房两卫,主卧朝南,;两次卧面北;地下室为两房一厅套房,客厅边朝南,正层高度,两间卧室在北面,分别在东西侧带窗户。
3 新!
4 价格适中
5 位置处于Burke Mountain的中心位置, 东行近Coast Maridian,距David街不远,向东步行1000米左右可到达未来5年建好的一个Mall, 向西步行500米有Galloway Park儿童乐园

缺点:
1 房与房之间距离较近,这也是Burke Mountain上许多小区的缺点之一
2 车库与房子分开的,detached garage,停车后需步行一段距离进入房子
3 院子里绿地面积较小 对于不喜欢打理草坪的,这一点或许可以作为优点
4 由于该区还是新区,学区排名尚不理想

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Port Moody wants Metro Vancouver growth plan change

34633tricityPortMoodyspecialstudyareas-7web
Port Moody has served notice to Metro Vancouver that it may seek to eventually amend the Regional Growth Strategy to redesignate 1,000 acres of derelict industrial land to allow future redevelopment.

But Richmond Coun. Harold Steves is opposing the request, warning a loss of that much industrial land in Port Moody could cause fallout elsewhere in the region, particularly if it spurs the port to buy up more agricultural land.

“Every acre of land you take out of the regional growth strategy from industrial use you are destroying two or three acres of farmland in Delta,” Steves said at Metro’s regional planning committee meeting Friday. “I am going to oppose this with my last breath.”

At issue is Port Moody’s request to add the old Petro Canada and Imperial Oil refinery sites and the Mill and Timber sawmill site to the growth strategy’s “special […]

Water front and ocean view properties in Port Moody

Home sale activity improves but remains below historical averages

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,347 on the Multiple Listing Service® (MLS®) in March 2013. This represents an 18.3 per cent decrease compared to the 2,874 sales recorded in March 2012, and a 30.6 per cent increase compared to the 1,797 sales in February 2013.

Last month’s sales were the second lowest March total in the region since 2001 and 30.2 per cent below the 10-year sales average for the month.

“While home sales were below what’s typical for March, we are seeing more balance between the number of sales and listings on the market in the last two months, which is having a stabilizing impact on home prices,” Sandra Wyant, REBGV president said.

The sales-to-active-listings ratio currently sits at 15.2 per cent in Greater Vancouver, a three per cent increase from last month. This is the first time this ratio has been […]

2013 Feb Report-Home sale activity has trended below historical averages

VANCOUVER, B.C. – March 4, 2013 – Home sale activity has trended below historical
averages for a full year in the Greater Vancouver housing market.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 1,797 on the Multiple Listing Service® (MLS®) in February 2013. This represents a 29.4 per cent decrease compared to the 2,545 sales recorded in February 2012, and a 33 per cent increase compared to the 1,351 sales in January 2013.
Last month’s sales were the second lowest February total in the region since 2001 and 30.9 per cent below the 10-year sales average for the month.
“Sales in February followed recent trends and were below seasonal averages, though our members tell us they saw more traffic at open houses last month compared to the previous six to eight months, said Eugen Klein, REBGV president.
The sales-to-active-listings ratio currently […]

M3 by Cressey

Prices hold firm as home buyers and sellers conclude 2012 from the sidelines

The Greater Vancouver housing market experienced below average home sale totals, typical home listing activity and modest declines in home prices in 2012.

The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2012 reached 25,032, a 22.7 per cent decline from the 32,387 sales recorded in 2011, and an 18.2 per cent decrease from the 30,595 residential sales in 2010. Last year’s home sale total was 25.7 per cent below the ten-year average for annual Multiple Listing Service® (MLS®) sales in the region.

The number of residential properties listed for sale on the MLS® in Greater Vancouver declined 2 per cent in 2012 to 58,379 compared to the 59,539 properties listed in 2011. Looking back further, last year’s total represents a 0.6 per cent increase compared to the 58,009 residential properties listed in 2010. Last year’s listing total was 6.1 per cent above the ten-year […]

Affordable Housing in Port Coquitlam

Greater Vancouver residential property sale and listing activity below 10-year averages in November

Over the past six months, the Greater Vancouver housing market has seen a reduction in the number of homes listed for sale, a gradual moderation in home prices and a decrease in property sales compared to historical averages.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties reached 1,686 on the region’s Multiple Listing Service® (MLS®) in November, a 28.6 per cent decline compared to the 2,360 sales in November 2011 and a 12.7 per cent decline compared to the 1,931 home sales in October 2012.

November sales were 30.3 per cent below the 10-year November sales average of 2,420.

“Home sellers appear more inclined to remove their properties from the market today rather than lower prices to sell their properties. On the other hand, buyers appear to be expecting prices to moderate,” Eugen Klein, REBGV president said.

New listings for detached, attached and apartment […]

Pinetree Secondary, Coquitlam

Be a smart buyer

Tri-city


The Tri-Cities are an informal grouping of three adjacent suburban cities and two villages in the north-east sector of Metro Vancouver in British Columbia. Combined, these five communities have a 2011 population of 218,509 residents.
5 Municipalities and their populations are;
Anmore (village) 2,092
Belcarra (village) 644
Coquitlam (city) 126,456
Port Coquitlam (city) 56,342
Port Moody (city) 32,975

When referring to schools, residents commonly refer to the Tri-Cities as “District 43,” after the public school district that serves this area. There are 45 Elementary schools, 13 middle schools, and 11 secondary schools.
The Trans-Canada Highway provides freeway access to Burnaby, Vancouver, Surrey, and other municipalities in the Lower Mainland. Lougheed Highway is an alternative route to the Trans-Canada, entering Coquitlam through Maillardville, past the Riverview Hospital area, up to Coquitlam Centre where it turns sharply east to […]

Top 28 grants and rebates for property buyers and owners

1) Home Buyers’ Plan
Qualifying home buyers can withdraw up to $25,000 (couples can withdraw up to $50,000) from their RRSPs for a down payment. Home buyers who have repaid their RRSP may be eligible to use the program a second time.

Canada Revenue Agency www.cra.gc.ca.
Enter ‘Home Buyers’ Plan’ in the search box.
1.800.959.8287

2) GST Rebate on New Homes
New home buyers can apply for a rebate of the federal portion of the HST (the 5% GST) if the purchase price is less than $350,000. The rebate is up to 36% of the GST to a maximum rebate of $6,300. There is a proportional GST rebate for new homes costing between $350,000 and $450,000.

Canada Revenue Agency www.cra.gc.ca.
Enter ‘RC4028’ in the search box.
1.800.959.8287

3) BC New Housing Rebate (HST)
Buyers of new or substantially renovated homes priced up to $850,000 are eligible […]

A more active market in October-Still a buyer’s market

Please watch the following video for detailed information of October Real Estate Board report.

Burke Mountain, your last chance to own a brand new house in the Greater Vancouver Area


Burke Mountain is a growing community in Northeast Coquitlam. It is a new community of family-oriented neighbourhoods connected through an extensive trail network, parks, schools, plenty of green space and a planned pedestrian-friendly village centre. You will be able to meet your neighbours at the local coffee shop, or while watching the kids play at one of the many parks planned for the area.

There are several active housing developments in the Burke Mountain area, with many more single-family homes, townhomes and condos planned for the area. Wesbild is currently the major developer on Burke Mountain with 400 acres of land slated for development. They are working with several developers to build The Foothills community, which includes Belmont Classic, Belmont Walk, Burke Mountain Heights, Gardenia, Nour of the Foothills, Birchwood Estates, Palisades and the recently announced Avondale. The have also been deeply involved in […]

Conditions contunue to favour buyers in the Greater Vancouver housing market

The summer of 2012 drew to a close in September with home sale activity well below histotical averages in the Greater Vancouver housing market.
The Real Estate Board of Greater Vancouver reports that residential property sales of detached, attached and apartment properties reached 1516 in September, a 32.5% decline compared to the 2246 sales in September 2011 and 8.1% decline compared to the 1649 sales in August 2012.
September sales were 41.6% belown the 10 year september sales average of 2597.
Please watch the REBGV video for more detailed information.

Heritage Wood, Port Moody, one of the best neighbours in Tri-city Area

Port Moody is a small, crescent-shaped city in Metro Vancouver, located at the east end of Burrard Inlet in British Columbia, Canada. Port Moody is the smallest of the Tri-Cities, bordered by Coquitlam on the east and south, and Burnaby on the west. The villages of Belcarra and Anmore, along with the rugged Coast Mountains, lie to the northwest and north respectively. It is named for Richard Moody.

In 2011, the population was 32975, comparing with 2006, the City of Port Moody had 27,512 people in 10,125 private dwellings living within its borders . This population growth was a 15% increase from the last census taken in 2001. Booming residential construction may account for part of this population growth; 8,015 residential dwellings are owned while 2,115 are rented. Port Moody also has the fourth highest municipal median family income at $70,239, with its largest employers being Eagle Ridge Hospital and School District 43. Of its […]

One Stop Service For New Immigrants

Compare Panorama Heights and Walton Elementary in Coquitlam

Federal Government Changes to Mortgage Lending – June 21, 2012

For the fourth time in the past four years, the Federal Government has announced further action to restrict mortgage credit. The new measures include:

The maximum amortization on a prime mortgage will be reduced from 30 to 25 years.
Mortgage insurance will not be provided for properties valued over $1 million.
Refinancing has been lowered from a maximum of 85% loan-to-value to a maximum of 80% loan-to-value.
The maximum gross debt service (GDS) and total debt service (TDS) will be limited to a maximum of 39% and 44% respectively. Currently, GDS does not apply to qualified borrowers with credit scores over 680.
These measures will take effect July 9, 2012.

Implications for the BC home market:

The new 25 year amortization will have a small but material impact on affordability for homebuyers. For a $300,000 mortgage, the shorter amortization period will add over $150 per month to mortgage carrying costs for […]

Spring activity remains balanced in the Greater Vancouver housing market

The number of properties listed for sale continued to increase in the Greater Vancouver housing market in May. The number of sales decreased year over year, but remained relatively constant compared to recent months.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,853 on the Multiple Listing Service® (MLS®) in May 2012. This represents a 15.5 per cent decline compared to the 3,377 sales recorded in May 2011.

May sales were the lowest total for the month in the region since 2001 and 21.1 per cent below the 10-year May sales average of 3,617. However, sales have been constant throughout the spring months, with 2,874 sales in March and 2,799 sales in April.

“Home sellers have outpaced buyers in recent months, however, there continues to be an overall balance between supply and demand in our marketplace,” […]

Houses used for marijuana grow operation

Coquitlam okays first reading for 33-storey tower


Janis Warren – The Tri-City News
A controversial plan to build a 33-storey tower in Coquitlam — on Port Coquitlam border — will go to public hearing next month.

At Monday’s meeting, city council unanimously granted first reading to rezone 1123 Westwood St., where the Onni Group wants to build a mixed-use highrise facing Lincoln Avenue and consisting of 239 residential units and four townhouses.

As well, Onni is proposing a four-storey commercial building along Westwood on the one-acre property that used to be owned by the city, which sold it for $7 million.

The plans have already generated significant feedback, including from PoCo Mayor Greg Moore, who wrote in a letter to Coquitlam council of the “substantial and negative impact a development of this scale and character would have on our community.”

Neighbours on both sides of the city border also have […]

More trees, lighting around Evergreen stations


Janis Warren – The Tri-City News
Big changes are planned for three of Coquitlam’s busiest streets with the coming of the Evergreen Line.

Using the Canada Line as a model, Coquitlam city staff on Monday showed the first of many examples of how North and Clarke roads and Pinetree Way will look when the rapid transit line is built in four years.

At Monday’s council-in-committee meeting, Ian Radnidge, manager of the Evergreen Line project, described how the three main streets that are to carry the elevated portions of the rapid transit line will be transformed into more pedestrian- and cyclist-friendly zones, and how cars and public transit will flow around the Burquitlam and City Centre stations.

The drawings show tree-lined streets with extra on-street parking, landscaping, curb bulges, more lighting and wide sidewalks for pedestrians and cyclists to access Evergreen Line easily. As […]

Greater Vancouver Housing Market Maintains a Steady Spring Pace

Vancouver, BC, May 2, 2012
Home sale and listing activity has maintained a consistent pace on the MLS in Greater Vancouver in recent months, which has helped create balanced conditions for the region’s housing market.

The Real Estate Board of Greater Vancouver reports that residential property sales in Greater Vancouver reached 2799 on the MLS in April 2012. This represents a 13.2% decline compared to the 3225 sales recorded in April 2011 and a decline of 2.6% compared to the 2874 sales in March 2012.

April sales were the lowest total for the month in the region since 2001 and 16.9% below the 10-year April sales average of 3369.
New listing for detached, attached and apartment properties in Greater Vancouver totalled 6056 in April 2012. This represents a 3.6% increase compared to both March 2012 when 5843 homes were listed and April 2011 […]

Here comes the era to highly support affordable housing


I was glad to find out from last month’s REBGV’s report that Vancouver Eastside became the most active market for the second month; at the same time, Coquitlam and North Vancouver are doing well comparing with other areas in Greater Vancouver. For years and years, people put way too much attention on the so call “prestigous” areas such as Vancouver Westside, West Vancouver and some parts in Richmond and Burnaby, as a result that, the market value of the properties in those areas flies dramatically. As changes of many social factors occur, I believe that here it comes the time to support affordable housing.

Many of us believe wealthy Asian immigrants is the major cause of the current crazy real estate market. They are absolutely right. What I’ve heard and my personal experience approved that many times, like a young Chinese immigrant bought a […]

To New Immigrates When Purchasing Properties in Vancouver

School ranking in West Van & Mulgrave and Collingwood

Greater Vancouver housing market trends near long-term averages as spring market approaches

Greater Vancouver housing market trends near long-term averages as spring market approaches

VANCOUVER, B.C. – March 2, 2012 – Closer alignment between home buyer and seller activity helped bring
greater balance to the Greater Vancouver housing market in February.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,545 on the MLS® system in February 2012. This represents a 61.4 per cent increase compared to the 1,577 sales recorded in January 2012, a decline of 17.8 per cent compared to the 3,097 sales in February 2011 and a 2.9 per cent increase from the 2,473 home sales in February 2010.

February sales in Greater Vancouver were the third lowest February total in the region since 2002, though only 151 sales below the 10-year average. “With a sales-to-active-listings ratio of over 18 per cent, we see fairly balanced conditions in our marketplace as we
move into […]

THE B.C. FIRST-TIME NEW HOME BUYERS’ BONUS

From the Government of BC–Subject to approval by the legislature, the B.C. government intends to implement a temporary BC First-Time New Home Buyers’ Bonus. Effective February 21, 2012, to March 31, 2013, the bonus is a one-time refundable personal income tax credit worth up to $10,000.

Requirements to Qualify for the Bonus
1. ELIGIBLE FIRST-TIME NEW HOME BUYER
You will qualify as a first-time new home buyer if:
»» You purchase or build an eligible new home located in B.C.;
»» You, or for couples, you and your spouse or common law partner, have never previously owned a primary residence;
»» You file a 2011 B.C. resident personal income tax return, or if you move to B.C. after December 31, 2011, you file a 2012 B.C. resident personal income tax return (you will not be eligible for the bonus if you move to B.C. after December 31, 2012);
[…]

Thought after Coquitlam’s Regular Council Meeting Feb 27, 2012

A public hearing was hosted at the City of Coquitlam on Monday Feb 27, 2012. 4 items were discussed in the meeting regarding planning, development and zoning. Area of Burke Mountain, Como Lake, Burquitlam were discussed. I’d like to further talk about two of them today.

A new developmen of 16 townhomes on 3368 Mason Ave in Burke Mountain Area by New Mainstream Dev. Ltd is firstly discusses. As this is a new neighbourhood, residents living there raised more questions and concern regarding the environment and street planning. People do concern about lack of green space, as new development of houses and townhouses are pushing out, trees have been cut down. My understanding to this concern is that Burke Mountain is under development not very long ago, it is a brand new neighbourhood. The process to transfer the current community does take time. Once new community is created and built, trees and green space will […]

What Evergreen Line Brings to Coquitlam?


The construction of Evergreen Line started early 2012. It will provide rapid transportation for residents living in the following cities. The route and stations are shown as above picture.

Lougheed/Burquitlam
The Evergreen Line will run north from Lougheed Town Centre Station on an elevated guideway along the centre of North Road. Burquitlam Station will be on the east side of Clarke Road near Burquitlam Plaza. Leaving Burquitlam Station, the line will cross to the west side of Clarke Road, before entering a tunnel towards Port Moody.

Port Moody
The Evergreen Line will emerge from the tunnel just east of Barnet Highway. It will travel at ground level along the south side of the Canadian Pacific Rail (CPR) tracks to Port Moody Station, located at the Port Moody transit exchange site. Continuing east, the line will cross the CPR tracks just before […]

January 2012 report: Sales In Coquitlam and Port Coquitlam On Top

Selection broadens and demand eases to kick off 2012 in the Greater Vancouver housing market
VANCOUVER, B.C. – February 6, 2012 – Greater Vancouver home sellers were more active than buyers in January and overall home prices, according to the new MLS® Home Price Index (MLS® HPI), continued to experience more stability and less fluctuation compared to the beginning of 2011.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 1,577 on the Multiple Listing Service® (MLS®) in January 2012. This represents a 4.9 per cent decrease compared to the 1,658 sales recorded in December 2011, a decrease of 13.3 per cent compared to the 1,819 sales in January 2011 and an 18 per cent decline from the 1,923 home sales in January 2010.
January sales in Greater Vancouver were the second lowest January total in the region since 2002, though only 146 sales […]

What does $1.29 Million get you in Coquitlam and West Vancouver

My 2012 was getting started by selling and buying two properties in Coquitlam and West Vancouver for the samiliar price range around $1.29 million. However, compare and contrast these two properties, there are too many differences rather than price.

I was acting on behalf of the Buyer for the one in Coquitlam. The original asking price was $1.29 million, during time of sales, the seller lower the price to $1.24 million, and evetually I negotiated for my client at $1.2 million including HST,since it’s a brand new house. The house is sitting on a 7000 sf lot, inside of the house is 4700sf, there are total 6 bedrooms and 6 bathrooms. 4 of bedrooms are upstairs, and each of them has a bathroom; 2 -bedroom suite with seperate entrance is in the basement;gourmet kitchen, dining, living and family rooms are on the main level. The backyard is facing forest, where creeks going through; the […]

Tri-city Chinese New Year Party amazed over 700 comers

Tri-City Chinese New Year Party was hosted in Coquitlam Jan 21, 2012.

2012 Tri-city Chinese New Year Party was hosted by Coquitlam Kongzi institute and Westca.com. It was a great feast to celebrate Chinese New Year with local Chinese Community and governors. The mayor of Coquitlam, the President of Canadian Multicultural Association and almost 700 citizens were presented in the party. Many talented performers gathered together and presented the audiences a spectacular evening party. Most of them are not professional, but with love and sincere wishes, their performance is even better than professionals. Over 50 volunteers contributed to this party. Delicious food and drinks were provided by hundreds of families; party prizes were provided by local business; red envelops were given out to kids. It truly seemed like a big family.

2012 is the year of Dragon. I wish all the best to my family, friends and clients. A prosperous New Year will bring […]

Building Single House in West Vancouver

Real Estate Assessment price grew dramatically in some areas in West Vancouver, many single house lots have over 15-30% growth. More and more people therefore are now willing to purchase lot and build by themselves to save some cost. I’d love to discuss with you things that we need to pay attention during purchasing lots and building single houses.

1. River, Creek, Stream
Environmental department in the City of West Vancouver is super busy. They have to make sure that the nature is being protected every minute. When we build on a lot where a creek going through, the distance between the house and the creek is restricted to be at least 15 ft. The city may send professionals to survey the lot and creek that going through. It is very possible that to apart them more.

2. Height
In West Vancouver, normally houses are not higher than 25 ft. Depending […]

2012 New Government Assessment Price

New government assessment price has been issued by BC government. If home owners find any errors or disagree with the new assessment price, please submit written notices to BC Assessment before Jan 31, 2012.
For more information, please visit http://www.bcassessment.bc.ca/Pages/default.aspx

Schools in Coquitlam

Coquitlam is the home for many families with kids and young adults. As the housing price grows dramatically in the Great Vancouver Area, Coquitlam however is relatively stable and affordable, more and more family choose to relocate in Tri-city area.

A number of well known private or public schools are in Vancouver Westside and West Vancouver, as many of us may know. But people may not know that Coquitlam also have many good schools for our kids and students.

The top ranking private school in Coquitlam is Queen of All Saints Elementary. Fraser Institute gives this school a 10 out of 10. It is very competitive to many private schools in Vancouver Westside, West Vancouver, and Richmond.

The top ranking public school in Coquitlam is Panorama Heights Elementary, Fraser institute give this school a 7.6 out of 10, it ranks 147/875 in 2009 to 2010, and in the most recent 5 years, […]

Balanced real estate market prevailed through much of 2011

VANCOUVER, B.C. – January 4, 2012 – The 2011 Greater Vancouver housing market began with heightened demand in regional hot spots and concluded with greater balance between seller supply and buyer demand.

The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2011 reached 32,390, a 5.9 per cent increase from the 30,595 sales recorded in 2010, and a 9.2 per cent decrease from the 35,669 residential sales in 2009. Last year’s home sale total was 6.3 per cent below the ten-year average for annual Multiple Listing Service. (MLS.) sales in the region.

The number of residential properties listed for sale on the MLS. in Greater Vancouver increased 2.7 per cent in 2011 to 59,549 compared to the 58,009 properties listed in 2010. Looking back further, last year’s total represents a 12.8 per cent increase compared to […]

5 Things To Consider When Buy Pre-Sale Properties

Coquitlam & Surrey will be the Next Home Buying Hot Spots

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