It was announced last month by the Provincial Government to end self regulation of the Real Estate Council of BC. The Government will appoint a new Superintendent of Real estate to take over all rule making and regulation duties. One recommendation that may have a dramatic effect is suggesting all offers in a multiple offer situations be registered with the listing agents brokerage, where they can be viewed by the new regulator if need be. In Vancouver's hot market, buyers in bidding wars have no way right now to verify if the selling Realtor does indeed have competing offers or the number of competing offers. Eventually all offers should be posted electronically, in real time, so buyers can review all the bids. 

I just finished uploading this Townhouse for sale, 5536 OAK STREET, Vancouver West, BCChic 2 bedrooms+2.5 baths townhouse in the Bennett by Listraor. Situated at the Back row & QUIET side of the development. Nice & bright CORNER Unit w/ natural light throughout. 3 levels are above grade with modern living. OPEN concept features engineered hardwood flooring, 9' ceiling, fireplace. Gourmet kitchen with polished Caesar stone countertops. Sleek stainless integrated Bosch appliances. Master bedroom on top has a balcony looks out to the courtyard & walk in closet. Separate shower, double basins, soaker tub & even window in the ensuite. 2nd bedroom has a 4 piece bath as well. Central heat & A/C. 1 secured u/g parking stall and private lock ...

As a Canadian citizen we are only allowed to own 1 principal residence and receive the principal residence tax exemption (Capital Gains tax free) when selling. In this blog I’m going to give you an example of where I’m seeing wealthy oversees buyers purchasing multiple properties and designating them as principal residences in family members names to avoid the capital gains tax when they sell. In my opinion, a principal residence purchase should be tied into Revenue Canada and that each purchaser should be required to file a Canadian tax return to prove that the funds were earned by the person on title. This simple solution would at least level the playing field for all buyers and generate billions of dollars into the general tax cof ...

I just finished uploading this Condo for sale, 808 150 CORDOVA STREET, Vancouver East, BCINGASTOWN, a 9-storey concrete building in gas town neighbourhood. This building featuring 61 residential homes. Designed by award winning Christopher Bozyk. Offering an abundance of amenities to natural waterfront parks, all within walking distance to Skytrain and Seabus stations. Luxurious integrated appliances, polished concrete floors, quartz countertops, premium cabinetry. 2-5-10 home warranty and MODO Car Share program. Call listing agent to discuss this rare assignment opportunity.

I just finished uploading this House for sale, 6175 REKIS AVENUE, Richmond, BCA comfortable one-level home in a quiet neighbourhood conveniently located near public transit and Blundell Centre. There is a park nearby. The home features an updated furnace, central air conditioner, and covered concrete patio off the family room which, itself, is located near the kitchen and dining area. Shaded from harsh sun or kept dry from the rains, the patio offers a modest gardening opportunity within its fenced area. The kitchen has a large window overlooking the front street for a sunny view. The living room has a fireplace for toasty evenings. A large double garage with extra off-street parking adds to the feeling of convenience. Dare I say, "hur ...

It's now been 6 weeks since the new foreign buyers tax was introduced and so far there has been very little impact to the market as far as prices go. Sales volume has dropped, however I wouldn’t read much right now into the 26% decline in sales when comparing Aug 2016 to Aug 2015 that was reported last week. August 2015 was a record breaking month and we had much more inventory to sell. We continue to have record low inventory levels. For prices to start coming down, inventory levels (homes for sale on MLS) are going to have to increase dramatically going forward. The next 2 to 3 months will tell the story as we head into our busy Fall season, where we normally start to see an increase in the number of listings. If sales don’t keep p ...

I just finished uploading this House for sale, 12055 IMPERIAL DRIVE, Richmond, BCLocation doesn't get better than this! Well maintained 5 bdrm family home situated on a quiet cul-de-sac in desirable 'Westwater' subdivision. Home features huge kitchen with island, updated with granite countertops and stainless steel appliances. Bathrooms have been beautifully updated in the last few years and the roof is only 6 years old. Great open floor plan with good sized rooms and a den/office on the main floor. Sunny and private south backyard is bigger than most! Short stroll to Steveston Village and just a block away from T. Homma elementary (Fr Imm). Open house Sat, Sept 3rd, 2-4 PM.

I just sold this Condo at 326 8860 NO 1 ROAD, Richmond, BC Boyd Park.View this recently sold Condo or see all my home sales

In the Vancouver condo market right now (Labour Day 2016) there are 3 buyers for every seller. Inventory (Units for sale) is at an all time historic low. Part of the problem is that developers are forced to build like it’s 1985 and not 2016. We continue to build mostly low to mid-rise condo buildings when we should be building much higher and increasing density. There are also massive areas of prime real estate in the city centre that are zoned for commercial/ light industrial only. The current price situation is caused by 2 main factors. Ultra low interest rates are the main driver (watch my video blog from last week Aug 28) and lack of supply. There are only 2 ways for home prices in Vancouver to start to moderate or decrease in an ...