Category Archives: For Sellers

Detailed information on How to Sell Houses and Condos in Vancouver including Realtor Advice from Top Vancouver Realtor Mike Stewart

April 2013 REBGV Statistics Package

Posted on May 2, 2013 by mike

REBGV Stats Package, April 2013 by Mike Stewart

Spring delivers greater balance to Greater Vancouver housing market

A closer relationship between home buyer demand and the supply of homes for sale has been having a stabilizing impact on home prices in the Greater Vancouver housing market over the last three months.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,627 on the Multiple Listing Service® (MLS®) in April 2013. This represents a 6.1 per cent decrease compared to the 2,799 sales recorded in April 2012, and an 11.9 per cent increase compared to the 2,347 sales in March 2013.

Last month’s sales equate to the lowest April total in the region since 2001 and 20.9 per cent below the 10-year sales average for the month.

“While the number of home sales remains below Continue reading →

Realtors in Vancouver Split their Commissions?

Posted on April 16, 2013 by mike

Real Estate Commissions are Split in Vancouver?

Yes! When a Realtor is hired by a Seller to list a property for sale, the Listing Contract states that the Seller will pay this Realtor (Sellers Agent/Listing Agent) a commission should the property sell during the period in which the Listing Contract is in force.

Now, if a prospective seller was to calculate what they would have to pay in terms of commission (Want to know how much quick? Check out this Realtor Commission Calculator!), some might think it a lot of money to go to one person, but that’s not really what’s going to happening!

Real Estate Commission Splits = Buyers Agent Bait?

In Vancouver, The Sellers Realtors (Sellers Agents/Listings Agents) split around HALF Continue reading →

Posted in: First Time Home Buyers Advice for Vancouver, For Buyers, For Sellers, How to Sell a Revenue Property in Vancouver, How To Sell A Vancouver Condo
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March 2013 Real Estate Board of Greater Vancouver Stats Package

Posted on April 3, 2013 by mike

March 2013 REBGV Stats Mike Stewart

Home sale activity improves but remains below historical averages

Lower levels of both supply and demand in recent months are holding home prices in check in the Greater Vancouver housing market.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,347 on the Multiple Listing Service® (MLS®) in March 2013. This represents an 18.3 per cent decrease compared to the 2,874 sales recorded in March 2012, and a 30.6 per cent increase compared to the 1,797 sales in February 2013.

Last month’s sales were the second lowest March total in the region since Continue reading →

Posted in: For Buyers, For Sellers, Real Estate Board of Greater Vancouver (REBGV) Monthly Sales Statistics
Tags: BC Real Estate Stats, Canadian Real Estate Statistics, March 2013 Real Estate Stats Vancouver, March 2013 REBGV Stats, Real Estate Stats Vancouver March 2013, REBGV Stats March 2013, Vancouver BC Real Estate Stats March 2013, Vancouver Condo Statistics, Vancouver Real Estate Stats
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What is CMHC Mortgage Insurance? Jonathan Fung Mortgage Specialist Explains!

Posted on March 21, 2013 by mike

CMHC Mortgage Insurance Explained by Jonathan Fung Vancity Mortgage Specialist!

What is CMHC Mortgage Insurance?

To answer this question, I recently met with Jonathan Fung, a mortgage specialist with Vancity who was kind enough to discuss CMHC mortgage insurance with us.

What is CMHC Mortgage Insurance?

CMHC stands for Canada Mortgage and Housing Corporation, which is a Crown Corporation owned by the Federal Government. One of CMHC’s core functions via its Mortgage Insurance is to assist illegible buyers purchase a home in Canada with less than a 20% down payment.

Lenders and Financial Institutions view property purchases with less than a 20% down payment as higher risk of default (ie Borrowers not paying their mortgage). Without CMHC mortgage insurance, lenders typically will not lend to borrowers with less than a 20% down payment.

CMHC insurance is available and required anytime a purchaser wants to buy home in Canada with between a 5% and 20% down payment. CMHC Mortgage Insurance does not insure property purchaser, but rather the financial institution where the purchaser is borrowing the money. CMHC Mortgage Insurance insure the lender so that if the borrower doesn’t pay their mortgage, the lender gets their money back.

Whats the Catch with CMHC Mortgage Insurance? Continue reading →