As we approach the dawn of 2024, the real estate market is undergoing a significant shift, prompting both buyers and sellers to reassess their strategies. In this blog post, we’ll delve into the current market dynamics and explore what to expect in the coming year, offering insights for navigating the evolving 2024 real estate market.
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BCFSA – What Is A Bully Offer?
But sometimes buyers wait for the seller’s offer presentation date, only to find out the property has been sold before the date arrives. How does this happen? It may be that the seller has accepted a pre-emptive offer – often referred to as a “bully” offer. These are offers that expire before the date and time set by the seller for offer presentation. While submitting or accepting a bully offer is not illegal, there are risks that buyers and sellers should be aware of.
Continue reading →Getting a Mortgage After Bankruptcy
Sometimes life throws you a financial curveball. Bankruptcy and consumer proposals happen. It doesn’t mean your life is over, and it doesn’t mean you won’t ever qualify for a mortgage again.
Continue reading →Election Housing Promises Destined to Fail Without Detailed Plans to Increase Supply
The British Columbia Real Estate Association (BCREA) is encouraged by the focus on housing affordability as a key priority in each of the major party’s platforms in the lead-up to September’s federal election. However, while parties pledge to build more homes and make purchasing easier, without detailed plans to quickly turn those promises into action that will increase supply, campaign promises will lead to municipal bottlenecks, failed policy and disappointed homebuyers.
Continue reading →ARE MORTGAGE RATES REALLY GOING UP?
With all the economic uncertainty caused by a global pandemic, unprecedented unemployment levels, and government stimulus, mortgage rates have been on a steady decline for almost a year. In fact, we’ve hit some historic lows along the way.
Continue reading →5 Canadian real estate market trends to watch in 2021
2020 was unique for the Canadian real estate market. The pandemic slowed the market for a brief period at the start of the spring market and then things really picked up. We continue to see rising prices and a brisk market. Can we expect to see this continue going forward?
Continue reading →February Market Update
“With home sale activity well above our January average, the supply of homes for sale isn’t able to keep pace,” Colette Gerber, REBGV Chair said. “This is causing increased competition amongst home buyers and upward pressure on prices.”
Continue reading →January Market Update
“Robust December sales outpaced long-term averages in what’s traditionally the quietest month
of the year in real estate. This was part of an unusual seasonal pattern the market followed last
year, which can be attributed in large part to the pandemic,” Gerber says.
November Market Update
According to the REBGV, “Home sale and listing resurgence extends into the fall. Home sale and new listing activity remained at near record levels across Metro Vancouver in October”. Find out what’s happening in the current North Vancouver market.
Continue reading →BCREA: Record September for BC Housing Markets
“The provincial housing market had a record-setting September,” said BCREA Chief Economist Brendon Ogmundson. “Both total sales and average prices were the highest ever for the month of September as pent-up demand from the spring pushes into the fall.”
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