Bill Noy White Rock South Surrey Realtor
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What up for the year ahead in BC home prices ?
The Canadian Real Estate Association (CREA) now predicts the number of sales in B.C. will lessen. Prices of detached homes will drop by 7.8 per cent. But Vancouver is coming off a huge year, even if prices fall 10%, they’ll still only be at March 2016 levels. November was the first full month for the new Federal Government mortgage rules. The most affected are first time home buyers who find it more difficult to get a mortgage.
Prices by Housing Type

Prices by neighbourhood

Townhomes by neighbourhood

Apartments by neighbourhood

Sales-to-Active Ratio

List Price to Sale Price Ratio

The Home Owner Mortgage and Equity (HOME) Partnership Program will lend buyers pre-approved for an insured mortgage 5% of the purchase price (to a maximum of $37,500) for 25 years, with no interest or payments during the first five years. After that, participants pay interest at market rates. Participants must be Canadian citizens or permanent residents with a household income of less than $150,000 and the purchase price cannot exceed $750,000.

 
What are they? A Depreciation Report is a business plan that factors in when common assets such as roofs and elevators will need to be repaired, renewed or replaced. The idea behind depreciation reports is to budget for inevitable expenses so that strata owners are not ýblindsidedţ by Special Levies.
What is means to you No depreciation report creates uncertainty for buyers and may effect their ability to get financing.
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Strata

Polar Bear Swim

 

Whats Up?

 


If you're buying a new home it costs you nothing to have me representing your interests.

My commission is paid by the seller. There are clear advantages to using me as as your buyers agent.

 


Economic Forecasts

Facts and figures from the Brtish Columbia Real Estate Associatiion
Strata
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