Market news and stats

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Found 341 blog entries about Market news and stats.

BC real estate market newsThe B.C. Real Estate Association's latest housing forecast was released Tuesday and shows that while sales in 2020 did fall to "historic lows" in April, they have since rebounded to pre-pandemic levels and even puts the year on track to outdo 2019 sales.

Among the industries still grappling with the impacts of COVID-19 this year, the B.C. housing market is not one of them.

The Canadian real estate market dipped in April this year, amid the lockdowns and economic impacts brought about by COVID-19. Although the pandemic stopped what was predicted to be a strong spring 2020 market, transactions started to pick up around May and June.

The B.C. Real Estate Association’s latest housing forecast was released Tuesday and shows that while sales in 2020

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The Kelowna Housing marketB.C. real estate: home prices forecast to rise 7.7 percent by end of 2020, and 3.7 percent in 2021

B.C. realtors expect not only to sell more homes this year and the next compared to 2019.

They also anticipate prices to rise in 2020 and 2021. The B.C. Real Estate Association predicts 2020 to finish with a 7.7 percent increase in average price over 2019. The BCREA also forecasts a further increase of 3.7 percent in 2021.

In Greater Vancouver, the association anticipates the average price to jump 5.9 percent over 2019. For 2021, the average price in the region is predicted to rise 2.4 percent. In the Fraser Valley, the BCREA expects the average price to grow 6.7 percent in 2020, and 2.6 percent in 2021.

It can be recalled that the Canada

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BC real estate and RadonRadon Precautions for Buyers and Sellers

It is important for home buyers and sellers to understand the risks associated with radon levels in homes, and to have enough information about radon to make an informed decision when buying or selling real estate.

So what is Radon?

Radon is measured in becquerels per cubic metre (Bq/m3).

Radon is a naturally occurring, radioactive, odourless, and colourless gas that is generated through the decay of uranium and other elements in soil minerals. In fact, radon is present at different concentrations (depending on the makeup of bedrock or sediment) throughout Canada. As radon seeps up through the ground, it can find its way into your home through cracks in your property foundation and walls. If radon

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Kelowna Real Estate and CovidThe global pandemic may have brought the Canadian real estate sector to a near standstill this spring, but over the longer term it appears to have stoked homebuying intentions.

It almost goes without saying that COVID-19 has had a far-reaching impact on the Canadian economy and healthcare system in the first half of 2020. As expected, the spring housing market was much cooler than 2019, with the Canadian Real Estate Association (CREA) confirming that May 2020 recorded the lowest volume of sales in May since 1996. Despite the significant drop in sales volume due to the pandemic, though, national home prices remained relatively stable. 

After a quiet April, market activity began to pick up in local housing markets across the country in May: more

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What is the stress test in CanadaThe stress test rate is about to fall for the second time in three months following cuts by Canada’s Big Six banks to their 5-year fixed posted rates.

Ever since 2016, all insured mortgages must qualify at a minimum rate or, in other words, pass a 'stress test'. The key difference between an insured mortgage and an uninsured mortgage is the initial amount you're able to put down on the purchase of a If you find yourself able to put down more than 20% of the purchase price immediately, you can carry on without seeking mortgage insurance . If, however, your down payment comes in at under 20% of the total purchase price, the government mandates that the balance of the mortgage must be backed by government-supported insurance.

Mortgage experts say the

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Acreage in BCAre you considering buying an acreage?

I will be the first to tell you that the rural lifestyle has its rewards—including big, beautiful skies and the tranquility that comes with being surrounded by nature. Unfortunately, buying a property that doesn't suit your needs could make day-to-day life less than idyllic. That’s why it pays to know what to look for when buying an acreage. Here are a few of the things you should consider during your search.

1) Finance

HOW MANY ACRES ARE YOU PURCHASING?
For conventional mortgages,  mortgage lenders will finance a certain number of acres, a house & a garage. The number of acres that they will consider can vary based on the property location and the norm for that area. The minimum down payment can also vary

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What is your home worth in KelownaThe dollar figure on your provincial property assessment notice should not be taken as your home’s market value

In early January, homeowners across British Columbia received their 2020 assessed property values, released by BC Assessment. For the most part, the province remains relatively stable. However, there are significant changes to note, including a dramatic decrease in values in the lower mainland by as much as 15 per cent and increases of 41 per cent in smaller areas such as Kitimat. Regardless of the situation, it can be a confusing landscape to navigate as a homeowner, seller, or buyer. Here is a look at some of the need-to-know points that demystify the real versus the perceived impact of the newly released property assessments.

But hold

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Land for sale in BCWhen it comes to investing your money, land has always been a valuable commodity to consider.

Some investors purchase a vacant lot for immediate development. However, others buy lots with the intention of letting the value grow over time. It’s also possible to purchase land close to your own home to increase its overall value too.

Did you know that Canada makes up more than 6 per cent of the Earth’s surface? That’s a whole lot of space! Great news for anyone moving to Canada with dreams of building their own home. But where do you start? With a plot of land. Like with any investment, there are some key strategies to help you make the best purchase decision. While no investment can be 100% guaranteed, land remains a safe one so long as you take into

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Kelowna Property ValueWhat is a Market Evaluation?

A market evaluation is an analysis of the real estate market that a piece of property belongs to. Market evaluations are done to determine the value of a particular property (known as the subject property) – usually for the reasons of buying or selling real estate. Market evaluations are done with a specific area in mind, over a certain period of time and often other factors used to narrow down properties to compare to the subject property.

Let me explain a Market Evaluation

Real estate agents often do market evaluations for clients or potential clients to determine the value of their clients’ home or a home that their clients are looking to buy. Market evaluations help home buyers compare potential properties so that

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Landlord in BC CanadaThe single family home has, unfortunately, become unaffordable for many people.

With roller coaster housing prices and more people finding that renting is better idea than buying, there will be more people turning to renting.

So you’ve made the fortuitous decision to invest in real estate and now you want the revenue stream to begin raining down on you. But are you ready? Below we provide a list of items to help prepare you to be an effective and fair first-time landlord!

NB- We are assuming your building allows rentals so you are not breaking any strata laws in listing your place.

Know your Tenants Rights and the Law

Learn about landlord and tenant laws in your province to ensure you’re prepared in case things go wrong—and they will. The

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