People under estimate the impact that record low interest rates have on Vancouver home prices. It is by far the biggest driver on prices and the main reason our Vancouver market remains at record setting prices. I suggest you go to a website called www.calculator.net and see for yourself. The nice thing about this mortgage calculator is that it breaks down the Interest vs Principal payment every year for the full 25 years of the mortgage. With todays 2.3% for 4 yr term you are paying down more principal than interest right from year 1. Whereas 7 yrs ago in 2009 that rate was 6.5% which took you 15 years before you hit that crossover point. Run of the mill market corrections of 5 to 15% are very common in the Vancouver market and we t ...

I just finished uploading this Townhouse for sale, 808 GORE AVENUE, Vancouver East, BCUnique detached heritage-style home in charming Strathcona Neighbourhood. Downtown, Gastown, False Creek seawall, transit, parks & amenities at your doorstep. Pleasant open plan, soaring ceilings, hardwood floors throughout, spacious gourmet kitchen complete with granite countertops, solid maple cabinets, top SIS appliances, built-in pantry & breakfast bar. French doors lead to back porch & shared green space. 2 bedrooms upstairs each with spa-like ensuites. Crawl space for all your storage needs. Level 1 & 2 hookup for an electric car in garage .This home has it all! Open house Sat & Sun, August 27 & 28, 2-4pm.

There was a story in the media a few weeks ago that profiled a typical Vancouver home owner on the East side. The gist of the story was how this homeowner had essentially made over $250,000 in the past year by doing nothing. While hard working 9 to 5ers toiled away making $50K. I first wondered if the story had been reprinted from the Onion, a satirical newspaper. Or if it had been written by a comedian. Neither turned out to be the case. The article wasn’t trying to be funny. The reported really was disdainful of the homeowners returns. I suggest people look at articles like this differently. Avoid getting swept up in the feelings of injustice or outrage that an article like this seeks to create. Think to yourself “What can i learn ...

We are proud to announce that this Aug 20th, 2:00 PM to 4:00 PM we will be hosting an Open House at 14231 WESTMINSTER HIGHWAY in the East Richmond neighborhood, Richmond. This is an opportunity to visit this excellent House for sale in beautiful East Richmond.Please come with any questions you may have. In the meantime you can take a virtual tour of this East Richmond House for sale.As always please do not hesitate to give me a call at 604 889-1118 if I can answer any questions before the open house, or if you would like to book a private showing.Owen BiglandMacdonald Westmar

The ripple effect from the new 15% foreign buyers tax could be felt for 12 to 18 months or more. What effect it’s going to have on the market as far as prices go is still too early to predict. What we do know is that there are 1000’s of deals in the system that could be in jeopardy of not closing because the foreign buyer has decided not to close to avoid paying the new tax. This can have a domino effect on other sales that are tied to that first sale. This new tax may also have an impact on luxury condos that were sold over the past 3 to 6 months but do not complete until 2017. Depending on what the market does between now and say 18 months out, will determine if those deals may be in jeopardy as well.

As expected, because this new tax was not grandfathered, there was a run on lawyers and notaries to try and push completion dates forward last week to avoid the new 15% PTT on all foreign buyers. Will this be allowed under the anti-avoidance clause that’s in the new tax ? The tax is not only affecting wealthy Chinese buyers but young first time buyers from the U.S. as well. The Provincial Government is pumping the brakes and trying to cool this market. What effect it will have is too early to tell. It’s the fear of the unknown, and if there are other measures coming, that might have the biggest impact of the market down the road.

We are proud to announce that this Aug 6th, 2:00 PM to 4:00 PM we will be hosting an Open House at 14231 WESTMINSTER HIGHWAY in the East Richmond neighborhood, Richmond. This is an opportunity to visit this excellent House for sale in beautiful East Richmond.Please come with any questions you may have. In the meantime you can take a virtual tour of this East Richmond House for sale.As always please do not hesitate to give me a call at 604 889-1118 if I can answer any questions before the open house, or if you would like to book a private showing.Owen BiglandMacdonald Westmar