The Van Realty Real Estate Blog

Whether you've been on the lookout for a new home for a while now, or have only just begun, showing up at open houses can be overwhelming, especially when there are so many potential buyers looking at the same properties. How can you get the most out of each open house and find one that suites your needs? Keep reading to find out. 

There's no such thing as a stupid question... 

Purchasing a home is a big investment. Find out all that you can about the home, beyond what is written on the listing. Questions like... 

Make the time

Don't rush through an open house. You'll want to imagine yourself living in the home - that means taking the time to pause during the open to really think about whether the home is a good fit for you and your

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We had blogged about the new mortgage borrowing rules that went into effect January 1, back when it was first announced (here). We just wanted to give you a specific example of what this means and what impact we expect it to have on the market. Just to be clear, the new rules only affects homebuyers who have 20% or more in down payment. Homebuyers with less than 20% down payment will not be affected - there will be no change in the amount of mortgage you qualify for. 

A quick refresher before we get into the example: as of January 1, homebuyers will need to qualify at their current mortgage rate plus 2%, or the average 5-year posted bank rate of 4.99% (whichever is higher). By using this stress test, banks will ensure that the borrower would still be

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Image: Heritage School of Interior Design

It's not just Vancouver; Chinese buying drying up in Seattle too!

We knew there was going to be a sharp turn in the market coming into 2018 and now the numbers reflect it: the Real Estate Board of Greater Vancouver (REBGV) has just reported that July’s residential housing sales in Metro Vancouver reached their lowest levels for that month since the year 2000. Without a doubt, this has something to do with the Foreign Buyers Tax and the Additional Property Transfer Tax for Foreign Nationals. But what you probably didn't know is that our friends South of the border are experiencing the same cool down in their housing market.

Seattle has been one of the hottest markets in America and one of the greatest

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We wanted to let you know about a new real estate rule that came into effect last Friday, June 15 that will affect the way you work with a realtor. Limited Dual Agency will no longer be allowed. What is "limited dual agency"? And what impact will this have on you? Keep reading to find out. 

Limited Dual Agency

In the very recent past, real estate agents were able to represent both the buyer and the seller. Example: if a realtor's client was interested in buying a property that was listed by the same Realtor. The "limited dual agency" would require that the Realtor sign an agreement, where he/she is bound by contract to act impartially on behalf of both the buyer and the seller. Although this works in theory, clients are at the mercy of

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Stunning and spacious, fully renovated 2 bedroom 2 bath, located in The Empress by Central Park. Only steps away from the convenience of Patterson SkyTrain Station, Central Park, Metrotown, and Cyrstal Mall. You won't believe the beautiful upgrades and furnishings that have been carefully curated for this home. You HAVE to see it yourself! First Open: Saturday, July 21 from 1:00 to 3:00pm.

Quick Facts

MLS® #R2289687 Price: $748,000 Bedrooms: 2 Bathrooms: 2 Full Baths: 2 Square Footage: 1,185 Year Built: 1986 Style: Apartment


We'd be more than happy to answer any questions you have about this property and can arrange for you to see it. You can view the complete listing on our website, complete with more…
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The top three stressors in life are: (1) Death of a loved one; (2) Divorce; and (3) Moving. Buying a home can be bundled into the likes of Moving and can be difficult without the help and support of professionals. Now throw in the mix of buying a home for the first time... feeling overwhelmed would be an understatement.

We stumbled across this First-Time Buyer's Workbook (published by Canada Guaranty) and wanted to share it with all of our blog readers. We're loving the simplicity of the guide but the best part? It's interactive and has worksheets that help you crunch the numbers. Starting on page eight (8), you'll find the following worksheets: 

  1. Calculate Personal Finances
  2. Calculate Your Down Payment
  3. Plan for the Upfront
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For those new to our blog: we had a previous blog post about the effects of new lending rules and the stress test that came into effect January 1st. As a result, the market is officially slowing down and we predict it will continue to stay this way for the next little while (more on these stats in a separate post later).

A slowing market means the banks will have to "up" their strategy on getting new customers and retaining current customers. We have seen this with BMO (Bank of Montreal) earlier in May, which discounted its variable mortgage rate to 2.45 per cent until the end of the month. TD has now followed suit as competition rises! TD is also lowering its five-year variable rate to 2.45 per cent (1.15 per cent lower than the TD Mortgage Prime

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After a long and drab winter, it seems that the weather in Vancouver is finally looking up! May long weekend will be a great time to go out and enjoy some of that sunshine. Here are just some suggestions for the upcoming weekend. 

 

VANCOUVER ISLAND

BC Ferries will be adding 91 sailings to its most popular routes between Vancouver and Vancouver Island. There are some great camp sites - there still may be some availability or stay on the lookout for cancellations - and a ton of outdoor adventures. We found this cool surf and paddleboard "touring" in Tofino that looks like a lot of fun: https://tofinopaddle.com/products/tofino-paddleboarding-long-weekend/   The Island is one of our favourite places to visit. There's so much to do outdoors…
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Completely and beautifully renovated 2 bedroom 1.5 bath, located on a quieter strip of Willingdon Avenue at Metrotown. Only steps away from the convenience of Metrotown and bus hub, Central Park and Cyrstal Mall. You'll love the quality workmanship of this renovation! Come see it at the First Open: Saturday, May 5 from 2:00 to 4:00pm.

 


Quick Facts

MLS® #R2261873 Price: $587,000 Bedrooms: 2 Bathrooms: 2 Full Baths: 1 Square Footage: 896 Year Built: 1976 Style: Apartment


Come check out this rare gem at Metrotown. We'd be more than happy to answer any questions you have about this property and can arrange for you to see it. You can view the complete listing on our website, complete with more pictures,…
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