My East Van Blog

Happy Holidays!

Greater Vancouver Real Estate Board's Blanket Drive

Since 1994, the real estate community has partnered with local charities to distribute items collected in the region, in that time helping more than 185,000 people.

During this year’s REALTORS Care® Blanket Drive, Nov. 28 - Dec. 5, people from across the Lower Mainland benefited from the many contributions distributed through local charities.

“We anticipate the hundreds of bags of coats and blankets... read more.

Highest Rental Rates in Canada

According to a national survey by Canada Mortgage and Housing Corporation (CMHC), Metro Vancouver and British Columbia led the national average monthly rents in October.  At the same time, Tenants Resource and Advisory Centre states the city's vacancy rate is also falling.   So even though there is less supply in the market, our rental rates continue to climb.

The report states, "Apartment vacancy ra... read more.

5% Downpayment Only

In the current market, a regular conventional mortgage from a bank has a maximum financing ratio of 80% for the lower of the purchase price or appraised property value. 

Purchase Price       $500,000 x 80% = $400,000
Appraised Value      $490,000 x 80% = $392,000

In the above example, the bank will only lend a maximum mortgage amount of $392,000. The bank will review your income and credit history to qualify yo... read more.

Water and Garbage Tax Hikes Coming Next Year

City of Vancouver staffers are recommending a hike of nearly 10% for water and sewer services, along with a 5.7% increase for garbage collection next year. The adjustment is proposed to help pay for the new $800 million Seymour-Capilano water filtration plant, and to replace city sewer lines. This is part of Vancouver's long term plan of stopping raw sewage from draining into surrounding waterways... read more.