Canadian borrowers will feel this week’s U.S. interest rate hike

[CBC News – September 24, 2018] The world’s biggest central bank is expected to raise rates this week — and then keep raising them. With two eyes on the future, U.S. Federal Reserve chair Jerome Powell is expected to raise interest rates this week — and then keep raising them to keep inflation under control. (Yuri Gripas/Reuters) Markets are so certain that U.S. Federal Reserve chair Jerome Powell will raise rates this week that a failure to hike would likely have worse consequences for [...]

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The Home Front: How postal codes can reflect our design preferences

[Source: Vancouver Sun – August 11, 2018] Kendall Ansell, of Kendall Ansell Interiors, says design preferences in the suburbs differ from downtown Vancouver. Where you live doesn’t always reflect who you are, but there’s a good chance there’s some consistent interior design trends happening in your neighbourhood, says Kendall Ansell,  of Kendall Angell Interiors, who recently expanded her Vancouver Burnaby practice to include an office in Surrey. “We’ve made more of a commitment to going to the South Surrey, Surrey, White Rock [...]

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Waiting to see if declines in real estate sales translate into falling prices

[Source: CBC News – August 14, 2018] The Canadian real estate industry is used to disregarding gloomy predictions. But now, after a decade of laughing in the face of repeated false warnings that a housing slump was imminent, most Canadians affected by real estate — in other words, just about all of us — have suddenly become a little more wary. No one disputes the meteoric rise in Canadian house prices has come to an end. The latest figures from both Vancouver and [...]

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B.C. casinos claim revenue down because of new anti-money laundering rules

[Source: Vancouver Sun – August 30, 2018] B.C.’s new anti-money laundering rules have negatively affected revenues at the River Rock and Parq casinos. According to financial results released in August, Great Canadian Gaming Corporation saw a fall in B.C. revenues in the first six months of 2018 due in part to declines in money earned at gaming tables at the River Rock Casino in Richmond. The company said that was primarily attributable to a new requirement requiring casinos to complete disclosures [...]

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B.C. Realtors still not allowed to openly publish home sale prices

Photo: John Barbisan, president of the Fraser Valley Real Estate Board: home sellers have a right to privacy. [Source: Vancouver Courier – August 30, 2018] Toronto real estate agents ordered to release data to general public, while it remains restricted to real estate professionals in B.C. Last week, for the first time in Canada, the general public could see exactly what any home sold for through the Toronto Real Estate Board (TREB), but that information is not permitted to be published by [...]

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Baby boomers are back in the housing market – and it will impact prices: Royal LePage

[Source: Global News – August 8th, 2018] More than 1.4 million Canadians between the ages of 54 and 72 expect to buy a house in the next five years, according to a new survey by real estate powerhouse Royal LePage. Boomers will be either downsizing to smaller properties in their hometowns or looking for greener — and cheaper — pastures away from big cities, the research shows. Either way, this is “expected to have a meaningful impact on the housing market,” the [...]

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Vancouver Real Estate: Single-Family Homes On Verge Of Price Correction, Realty Board Warns

The city is seeing a surge in supply [Source: HuffPost – June 4, 2018] VANCOUVER — Home sales across Metro Vancouver tumbled last month, when compared with May 2017, and the Real Estate Board of Greater Vancouver says that raises the potential of lower prices for some types of homes. The board says 2,833 properties sold in its region in May, a 35.1 per cent plunge from sales recorded in the same time last year, although May’s sales were up nearly 10 [...]

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Five reasons to stage your home before buyers visit

[Source: Myedmondsnews -May 23, 2018] Sellers seem to have mixed reactions when they hear the word “staging.” Some go all-in, while others are somewhat resistant to the idea. The more reluctant homeowners ask questions like: Why would anyone bother staging a home before selling it? It sounds like a lot of extra work for me. What do I get out of it? There’s a simple answer to these questions. By staging your home effectively, you have a better chance of selling [...]

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The pros and cons of reverse mortgages

[Source: CTV -May 28, 2018] With the high value of real estate, many people have a lot of equity in their properties, making them house rich and cash poor. That may have some retirees considering a reverse mortgage to help make ends meet. But experts say you should make sure you understand the pros and cons of this type of loan before making a decision. If you’re over 55 years old you may qualify for a reverse mortgage if you have [...]

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These are the trends to look for in Vancouver’s housing market this summer

[Source: BuzzBuzzNews – May 23, 2018] As the weather warms up, industry experts agree that home sales and prices will continue cooling in Metro Vancouver as the market adjusts to stricter mortgage regulations and new BC housing policies. “It’s a lot for the market to adjust to and it could take a little bit longer for the market to adjust to those measures,” RBC Senior Economist Robert Hogue tells BuzzBuzzNews. Since February, year-over-year home sales have been declining in Metro Vancouver. In [...]

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