My East Van Blog

Will More Apartments bring rental rates down?

(July 19, 2012)

The Aquilini family, owners of the Vancouver Canucks planned to propose a three residential towers at Rogers Arena.  The three residential towers proposed for the Rogers Arena site - one at each end of the arena and the third just across the Georgia Viaduct from the arena. The towers would include 614 living units.

The proposal is suppose to help with housing affordability, stating a large numbers o... read more.

Careful of What You Hear About the Market

(July 16, 2012)

You no doubt have heard the media going on and on about the housing market slowing down. Yes, the market is definitely slower than previous years. I believe that Greater Vancouver has been spoiled in a way over the years, where buying pretty much anything would have made you money in a short period of time. That is definitely not the normal case for most of the world, and therefore when the market... read more.

Do you know the New Mortgage Rules?

(July 11, 2012)

The government has recently tighten the lending policies for mortgages, so do you know what they are?  Here is a summary from Paul Yeh, Manager of Residential Mortgages at Verico Clear Trust Mortgages:

New big changes are now in effect for high ratio mortgages (less than 20% down). In summary, those who are looking to purchase with less than 20% down will have a tougher time qualifying.

1. Maximum am... read more.

More Buildings Coming to BC

(July 08, 2012)

Article from the Vancouver Sun states, up to May of this year, building permits reached $4.4 billion in BC, a level not seen since the same period in 2007 when permits were more than $5 billion, according to Statistics Canada figures.

“It’s a sign of optimism, certainly in the Lower Mainland. People don’t build or invest in construction services unless they are confident in the future,” said Indepe... read more.

Housing Market's 10 year low

(July 04, 2012)

The Real Estate Board of Greater Vancouver states it's now a Buyer's Market, as the number of residential property sales has hit a 10-year low in Metro Vancouver.

June saw a 27.6% drop compared to the same time last year.

“Overall conditions have trended in favour of buyers in our marketplace in recent months,” said Eugen Klein, the board’s president, in a news release on Wednesday.

“This means buy... read more.

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