The Inside Scoop....

The Real Estate Board of Greater Vancouver recently issued a notice to all members that due to the high volume of new listings being submitted, the data input department will be working until 9 pm until further notice.  Some of the major banks have increased fixed mortgage rates by an addtional .15%, from the recent increase of .60%.  Sales continue to be strong, and multiple offers continue, as Buyers compete to get the best listings before rate holds expire. Look for the market to bump around ... Full Article...

#603 - 5615 Hampton Place, Vancouver #805 - 1470 Pennyfarthing, Vancouver #701 - 989 Richards Street, Vancouver

I think it's fair to say that most people don't buy and sell homes every day.  The Real Estate industry is highly regulated and every transaction is different.  Every property is unique and therefore, the contract to a transaction needs to be handled with skill and attention to detail.  It amazes me that people who aren't aware of all the potential pitfalls of not having proper representation still prefer to go it alone. This week, I got an interesting call from a colleague in my office, who go ... Full Article...

The current listing inventory on the West Side is now 2,920, up from 2,229 six weeks ago, with the most significant increase in listings in condominiums.  The number of detached listings is 560, up from 422 six weeks ago.  Over the past week, we saw the most number of new listings posted in any week, year to date, but we also saw the most sales reported in a single week this year.  Over the past week, there were 420 new listings and 202 sales reported, or a sale to list ratio of 48%.

Detached:  The current Benchmark Price of a detached home in the Westside is $1,656,986, an increase of 47% over the past year, according to the Housing Price Index just released by the Real Estate Board of Greater Vancouver.  That huge increase takes into account an unexpected rebound from the bottom of the market in the first quarter of 2009.  A low supply of inventory during the first quarter of 2010, coupled with strong demand predominantly from offshore buyers has kept pressure on detached ... Full Article...