July 2016 - Synergy Mortgage

21Jul

3rd Quarter 2016 Canadian Economic Update – Your Dollars & Sense

QUARTERLY HIGHLIGHTS Q3 – JULY 2016 - VERICO’s Economic Consultant, Michael Campbell helps us to understand the impact of the Brexit vote to leave the EU on our markets, what’s going on with mortgage rates, and who is demanding “government do something about high prices in Vancouver”. – A VERICO Exclusive. INTERNATIONAL SCENE Brexit is important because it is a part of a much bigger story. The key to know is that the Brexit vote and demise of the European Union [...]

International Influence, Quarterly Economic Update, Vancouver Real Estate

06Jul

Single-family home price declines in Vancouver: Trend or timing?

[ Source: CTV News Vancouver, July 6, 2016 ] House hunters in East Vancouver were just greeted by a strange but highly unusual sight: six-figure price reductions on several homes. At least two older single-family homes in the Fraser corridor saw reductions of $100,000 in the past two weeks. The price of a three-story fixer-upper on East 18th Avenue near Kingsway dropped a whopping $449,000 -- nearly a full quarter of the asking price -- after sitting stagnant for several weeks of [...]

Vancouver Real Estate

04Jul

Brexit vote could heat up Canadian real estate market

[ Source: The Globe and Mail, July 4, 2016 ] Realtors in Toronto and Vancouver are pitching Canadian cities as relatively safe property havens now that London, for years one of the world’s leading targets of foreign capital, suddenly looks a lot riskier. Blame it on Brexit. “Brexit’s good for us, not for them,” said Anita Springate-Renaud, owner of Engel & Volkers’ brokerage in Toronto, who expects to field calls from clients seeking to redirect their investments. “We are a safe bet.” If [...]

International Influence, Vancouver Real Estate

03Jul

Revitalization deals floated as way to slow pace of Vancouver’s heritage house teardowns

[ Source: Vancouver Sun, July 3, 2016 ] Michael Bruce used to build new homes on the west side as a way to keep busy after retiring. But these days, the Point Grey resident has gone in a completely different direction — to the east side of Vancouver renovating heritage homes. “I used to build Craftsman-style houses that were copies based on these houses. But over time, I found it to be more profitable and more interesting to me not to be building [...]

Vancouver Real Estate