Chinese are buying third of Vancouver homes, analyst’s rough tally estimates

Katia Dmitrieva, Bloomberg News Thursday, Mar. 24, 2016 Vancouver has long been a target for housing critics who say offshore buyers, many of whom purchase homes as investments and leave them empty, are pushing prices beyond levels locals can afford and creating ghost towns in neighbourhoods. Postmedia News Buyers from China comprised about one-third of […]

OBSTACLES FOR FIRST TIME HOME BUYERS

With mortgage interest rates at historical lows, it is a wonderful time for first time home buyers to take the leap into the market. But there are some considerations and preparations to be made before starting the process. A higher level of bank scrutiny has come into play now that the governance of CMHC has […]

Retiring with a mortgage? Why you might want to think twice about that

Jonathan Chevreau Tuesday, Mar. 22, 2016 When it comes to opining on seniors carrying debt into retirement, I’ll state upfront my personal bias that anyone with credit-card debt — or even mortgage debt — has no business fantasizing about retirement. To me, it’s simple: if you have debt of any kind, you keep working until […]

‘White-hot’ Vancouver, Toronto housing markets could be dragged down by rest of Canada, report says

A new report from Moody’s Analytics says Canada’s two priciest markets could eventually be dragged down by housing results in the rest of the country. Toronto condo king Brad Lamb delays Alberta projects amid oil slump: ‘The situation is worse than 2008’ Lamb Development Corp. is delaying construction of two condominium projects in Alberta as […]

CMBA Breaking News: BC Budget – Property Transfer Tax Changes

CMBA Breaking News: BC Budget – Property Transfer Tax Changes Breaking News: The BC Minister of Finance has announced several changes to the Property Transfer Tax program, effective Wednesday, which include: a property transfer tax exemption for Canadian citizens and permanent residents who purchase newly-built homes, condos and townhouses under $750,000. Purchasers must live in […]

Why a one-year fixed mortgage is your best bet

It has become a lot tougher to make sense of mortgage rates in the past few weeks. With Canada in the midst of economic misfortune (the decimation of its oil industry), inflation expectations are falling. That usually leads to a drop in mortgage rates. But in today’s bizarro world, the usual is not happening. What […]

Changes To Down Payment Requirements Coming February 15, 2016 –

Changes To Down Payment Requirements Coming February 15, 2016 On Friday, Finance Minister Bill Morneau announced changes to down payment requirements. Effective February 15, 2016, the minimum down payment for new insured mortgajges will increase from five per cent to 10 per cent for the portion of the house price above $500,000. The five per […]

VENDOR TAKE-BACK MORTGAGE

Growing in popularity over the past few years, the vendor take-back mortgage can help buyers to purchase and sellers to find qualified buyers – especially in a tough market. What is a vendor take-back mortgage – or VTB? When a seller offers to lend the buyer a portion of money towards the down payment – […]

Buying a Second Home

BUYING A SECOND HOME Buying a Second HomeThere are a growing number of families living in Vancouver, or moving to the region, who are choosing the option of buying a second home in the lower mainland or in one of the many great locations throughout British Columbia. When it comes to mortgage financing, there are […]

Thinking about a NO Subject to Financing Offer? 3 points you NEED to consider

In hot real estate markets, it’s common for both buyers and agents to consider having no subjects to financing when making a purchase offer. It’s important to realize, however, that no professional is in a position to legally advise you to enter into a real estate transaction with no subjects, especially no subject to financing. […]

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