It’s back! The European bank UBS is out with their annual world housing report and as usual Vancouver is one of there top 10 most overvalued markets. This year Vancouver comes in at #4. Last year we were #2. UBS and many others has been calling for a correction in Vancouver RE for about 8 or 10 years years now. The market has since gone up well over 100% since... One of these days they're going to get it right. Part of their miscalculation is that they continue to look at our market based on fundamentals. i.e. what the average persons earns vs what it costs to buy a home. When you use that metric of course Vancouver looks like it’s in a bubble! Somebody needs to tell them that Vancouver unhinged from fundamentals a decade ago. Vancou ...

I just finished uploading this House for sale, 5828 LANARK STREET, Vancouver East, BCSpacious & Well maintained 4 bedroom 2 bathroom bungalow with full basement and large rec room on quiet tree lined street near Knight & 41st. Over 2200sq.ft. on a 33x122 lot. Home has had many upgrades over the years. Roof 5 years old, windows 2008, new hot water tank. Refinished floors. Home is in good livable condition some freshening up would make it an ideal holding property to live, rent out or build your dream home in an area with lots of newer homes going up. Close to Kensigton Park & Community Centre, public transit and shopping. Open House Thursday Nov 2 4:30pm-6pm Sat & Sun Nov 4 & 5 2-4pm.

The market for Vancouver detached homes has slipped into a balanced and even a buyers market in most of the higher price brackets. Buyers who own a 2 or 3 bedroom condo or townhouse may want to take a look at moving up the ladder into the detached market. I’m seeing good livable homes of 2000 to 2200sq ft on 33X122 lots listed in the 1.4 mil area these homes were selling at $200k more just 18 months ago. This type of opposite moving market don’t come around all that often -- where the price of condos is at all time highs and competition is fierce and the price of detached is on sale at 10-15% off it’s highs. And you can negotiate the price.

Effective January 1, 2018, first-time home buyers who don’t require mortgage insurance — those with a down payment of 20 per cent or more — must qualify for their mortgage at a higher rate. This new stress test won’t apply to people renewing their uninsured mortgage. Canada’s Office of the Superintendent of Financial Institutions (OSFI) announced these rule changes today. Draft changes were released in the summer for public feedback. (The Canadian Real Estate Association submitted this response to the draft rules in August on behalf of REALTORS® across the country.) Under the new rules, the minimum qualifying rate for uninsured mortgages will be the greater of the Bank of Canada’s five-year benchmark rate or the contractual mortgage ...

We are proud to announce that this Oct 22nd, 2:00 PM to 4:00 PM we will be hosting an Open House at 24 6110 138 STREET in the Sullivan Station neighborhood, Surrey. This is an opportunity to visit this excellent Townhouse for sale in beautiful Sullivan Station.Please come with any questions you may have. In the meantime you can take a virtual tour of this Sullivan Station Townhouse 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

We are proud to announce that this Oct 21st, 2:00 PM to 4:00 PM we will be hosting an Open House at 24 6110 138 STREET in the Sullivan Station neighborhood, Surrey. This is an opportunity to visit this excellent Townhouse for sale in beautiful Sullivan Station.Please come with any questions you may have. In the meantime you can take a virtual tour of this Sullivan Station Townhouse 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

I’m hearing stories of a pre-sale condo gold rush going on in Surrey and parts of the Fraser Valley. One story that was relayed to me was of a person who bought 4 pre-construction 1 bedroom units with the plan to flip or assign them over the next 18 to 20 months before the units were completed. Apparently this buyer had not even talked to a mortgage broker or had the additional funds to close on these units. In my opinion this is a recipe for disaster. This buyer has no idea of the risk he is taking without having the financial ability to close on these units in the event that the market does not continue to increase.

I just finished uploading this Townhouse for sale, 24 6110 138 STREET, Surrey, BCFantastic, meticulously maintained, duplex style townhouse in tranquil Seneca Woods This wide floor plan home with 2000 sq ft has 3 spacious bedrooms and 3 bath. Includes a bonus extra large walk-out basement/recreation room that can be converted to a 4th bedroom and is already roughed in for a bathroom. The open concept kitchen with breakfast bar can be directly accessed from your large double car garage. The extra large master suite can easily fit a king bed. This home is bright, spacious and inviting! A large deck overlooks your private fenced backyard and patio, providing great entertaining options. Close to schools, transit, recreation and shopping. O ...

I just finished uploading this Condo for sale, 211 8740 NO. 1 ROAD, Richmond, BC'Apple Greene' Rarely available 'Miami Suite' 2-bedroom, 1.5 bathroom corner apartment. In-suite laundry. Large kitchen with extra cupboard space and cozy breakfast nook. Sliding glass doors off the kitchen and off the living room. 1147 sq.ft. including the balcony. Comes with storage locker and undercover parking. Great Rec. facilities in this complex with indoor and outdoor swimming pools, lounges, and more. Near Seafair shopping centre, schools and transit. Open house 2-4 p.m. on Sat. & Sun. Oct. 14-15, 2017. Offers if any, presented Tuesday October 17, 2017

There have been a number of new reports stating that Canadians are taking on too much dept. Much of it in the form of residential mortgages. In this blog I will explain the difference between good debt and bad debt. Provided you're not over-extending yourself, there’s nothing wrong with taking advantage of the historic low interest rates we currently have. I will also discuss why all Canadians should own shares in the big 5 Canadian banks and why there like a printing press for cash!