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Realtor Kim Lee discusses the upcoming new home-flipping tax in Vancouver, highlighting its potential positive impact on the housing market. She sees it as a step towards a more balanced and stable market, benefiting genuine homebuyers. Kim emphasizes the importance of informed decision-making for clients and believes the tax will lead to a healthier real…

Benchmark home price in Vancouver climbs ^4.5% to $1,183,300 (as of February 2024). This represents a ↑ 28% increase over the past four years.

In Vancouver, a solo buyer would need to save for 12.2-mo to afford the minimum down payment of $50,190. Condos are the most affordable property type, ideal for single-income buyers.

A new state law requires Vancouver to allow duplexes, fourplexes, and sometimes sixplexes in single-family home neighborhoods. The law aims to increase housing supply, overriding zoning laws to allow for more diverse housing options. Vancouver will work on implementing standards for these new housing options. Continue to full article

Vancouver City Council approved a motion to partner with non-profits to utilize City-owned land for building more co-op housing. Co-op housing allows residents to own the building cooperatively, leading to lower housing charges. The focus is on renewing existing co-ops and creating new ones, with a particular emphasis on the False Creek South area. The…

Provincial housing legislation impacts Vancouver's municipal planning and development. Vancouver engages proactively with Bills 44, 46, 47, and 43, setting ambitious housing targets and methods.

When buying a home, successful negotiation depends on understanding market value, finances, and inspection results. Tips include researching market value, knowing finances, and using a home inspection. Negotiate for price, repairs, warranties, closing costs, and other terms. Consider walking away if terms are unacceptable. Continue to full article

Changes in interest rates are anticipated to boost activity in sales and leasing in the latter part of the year. CBRE’s Real Estate market outlook predicts rate cuts by June 5, aiming for a 4% policy rate by year-end.

Breaking news! Interest rates at pre-pandemic levels, mortgage rates at all-time low, announces Fed. It's a dream come true for homebuyers who have been waiting for the perfect time to enter the market! Dream on… Happy April Fool’s Day!