Vancouver BC Real Estate
Vancouver is one of the most interesting, diverse, and beautiful cities in the world. It has consistently been ranked the most desirable and livable city by CNN.com and other magazines and websites.
Vancouver has a population of about 600,000, and is located in a region of 2 million people, making it the largest city in the province and the third largest in Canada. Famous for being one of the most cosmopolitan cities in the world, more than 50% of the residents have a first language other than English. Whole sections of Vancouver have been appointed as "Little India" and "Little Italy", and Vancouver's China Town is second largest in North America.
Vancouver Real Estate Articles and Market News
Affordable Second Homes in Washington State
Canadian, Australian, and Chinese (mainland and Taiwan) buyers are flocking to Seattle and Washington state generally for purchases of vacation or second homes. Washington state properties have never been so affordable with a combination of the weak US dollar and the housing price crash since 2006. Housing prices in most markets have fallen 40% back to 2003 levels. Shown below are examples of houses available for sale at this time of writing at a variety... [Read more]
A new program was recently launched that I believe will benefit both sellers & buyers in today’s marketplace. It is called the Buyer Protection Plan.
One of the greatest obstacles for sellers currently is the reluctance of buyers to make that purchase as they believe that prices will come down. Who can blame them? Depending on the day or news source, there are wide ranging forecasts – from the housing market is in good shape, to a possible slight correction in price, to a “housing... [Read more]
In a post dated May 7, 2010, I alerted readers that Canadian mortgage insurers were not insuring “non-conforming strata” properties. For the full post read here.
I subsequently wrote an update post on May 19, 2010 advising that the decisions by the mortgage insurers had been reversed and all was okay again. Read more here.
During that time frame, most lenders I spoke to had no issues providing that financing for those types of properties on a conventional basis (equity of 20% or more).Therefore,... [Read more]
West Vancouver is a suburb of Vancouver located just 10 minutes from the Downtown core, across from the Lions Gate Bridge. The city spans from the bridge (which I see as the border of West Vancouver and North Vancouver) all the way to the Coast, and continues for a short while up north.
With very little commercial zoning and zero industrial zoning, West Vancouver is a primarily residential city. As a result the city is very quiet, and there is even a by-law prohibiting business to stay open for 24... [Read more]
CIBC and RBC led the way today by announcing lower rates. All rates from 2 year terms and up were lowered by 10 bps across the board. With this latest decrease the posted 5 year fixed rate at both lenders is now at 5.49%.
No announcements by the other lenders at this time but they will surely follow.
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RBC, without a press release, lowered their posted rates today by 0.10% across the board. This is the second time in under 2 weeks that mortgage rates have been lowered.
Based on current bond yields, we can anticipate futher rate decreases in the near future. No other lenders have followed RBC’s lead thus far but we can expect them to match in the coming days.
Wayne Mah, AMP / Senior Mortgage Planner / firstname.lastname@example.org / 604.880.1899
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