Mike’s Blog for Home Sellers

August 2016 Real Estate Board of Greater Vancouver Statistics Package with Charts & Graphs

August 2016 REBGV Stats from Mike Stewart Metro Vancouver home sales return to typical August levels VANCOUVER, BC – September 2, 2016 – For the second straight month, home buyer demand in Metro Vancouver* moved off of the record-breaking pace seen earlier this year and returned to more typical levels. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver totalled 2,489 in August 2016, a decline of 26 per cent compared to the 3,362 sales in August 2015; 10.2 per cent less than the 2,771 sales in August 2014; and one per cent… Find out more

July 2016 Real Estate Board of Greater Vancouver Statistics Package with Charts

July 2016 rebgv statistics package mike stewart vancouver realtor from Mike Stewart Home sales move off of record-breaking pace in July Metro Vancouver* homes sales resembled more typical levels in July. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 3,226 in July 2016, a decrease of 18.9 per cent from the 3,978 sales recorded in July 2015 and a decrease of 26.7 per cent compared to June 2016 when 4,400 homes sold. This is the first time since January that home sales in the region have registered below 4,000 in a… Find out more

15% Tax on Foreigners Buying Property in Vancouver

15% tax on international buyers in Vancouver from Mike Stewart   Additional Property Transfer Tax on Residential Property Transfers to Foreign Entities in the Greater Vancouver Regional District Foreign Property Transfer Tax Act Effective August 2, 2016, an additional 15% property transfer tax applies to residential property transfers to foreign entities in the Greater Vancouver Regional District. Where it applies to: The Greater Vancouver Regional District includes Anmore, Belcarra, Bowen Island, Burnaby, Coquitlam, Delta, Langley City and Township, Lion’s Bay, Maple Ridge, New Westminster, North Vancouver City and District, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, Surrey, Vancouver, West Vancouver,… Find out more

May 2016 Real Estate Board of Greater Vancouver Statistics Package with Charts

May 2016 Real Estate Board of Greater Vancouver Statistics Package from Mike Stewart Demand remains elevated across the Metro Vancouver housing market Metro Vancouver homes continue to sell at an unprecedented rate in communities across the region. Residential property sales on the region's Multiple Listing Service® (MLS®) totalled 4,769 in May 2016, an increase of 17.6 per cent from the 4,056 sales recorded in May 2015 and a decrease of 0.3 per cent compared to April 2016 when 4,781 homes sold. Last month’s sales were 35.3 per cent above the 10-year sales average for the month and rank as the… Find out more

April 2016 Real Estate Board of Greater Vancouver Statistics Package with Charts & Graphs

Rebgv stats pkg april 2016 mike stewart vancouver realtor from Mike Stewart Home sales remain at record levels across Metro Vancouver Last month was the highest selling April on record for Metro Vancouver. Residential property sales in the region totalled 4,781 in April 2016, an increase of 14.4 per cent from the 4,179 sales recorded in April 2015 and a decrease of 7.6 per cent compared to March 2016 when 5,173 homes sold. April sales were 41.7 per cent above the 10-year sales average for the month. “Home buyer competition remains intense across the region,” Dan Morrison, REBGV president said.… Find out more

Leaky Condos, Rainscreening, and Buying an Older Condo in Vancouver

There are very few expensive risks in the real estate market here in Vancouver. Buying into a building with a bad envelope or leaky condo is one of those few extremely expensive risks here in Vancouver. Why there are Leaky Condos in Vancouver Here in Canada the federal government changed the building codes in the early 1980s to increase the Energy Efficiency of buildings in response to the energy crisises of the 1970s and 1980s. Basically the federal government mandated that between 1981 and 1999 buildings should have airtight or sealed walls. Traditional building technology in Canada allows for breathable… Find out more