vancouver real estate: July 2009 Real Estate Board of Greater Vancouver MLS Statistics - Another Month, Another Record
- 08/12/09 06:49 PM
Another Record Month In January 2009 we had the worst month Vancouver had ever seen. Just seven short months later and July 2009 was the best July on record. The turnaround we've seen in the last few months is nothing short of miraculous. Sales are no longer improving on a month-to-month basis, but this is to be expected as we enter the slower summer months. Year-over-year sales are way up (+90.39%) while listings are down (-17.63%) significantly. The laws of supply and demand are now putting pressure on prices. In March, Westside houses were off over 22% from prices the year … (0 comments)
vancouver real estate: Leaky Condo Loan Program Scrapped
- 08/12/09 06:45 PM
The provincial government announced on July 31st, 2009 that it was ending the loan program of the Homeowner Protection Office. You'll recall that I first drew attention to the matter at the beginning of the month when the Homeowner Protection Office first indicated that there were funding problems for the interest free loan program. The loan program was initially set-up by the NDP government in 1998. At the time, many advocates were calling on the government to pay outright for renovations required by the leaky condo mess. The loan program was intended to last 10 years and have a $250 million budget … (0 comments)
vancouver real estate: HST Will Result in Higher Vancouver Real Estate Costs
- 08/12/09 06:40 PM
I recently provided an update on the BC government's proposal to implement a Harmonized Sales Tax and it's impact on the Vancouver real estate market. The HST was a surprise to us all. It's unfortunate that the provincial government chose not to consult those of us directly impacted before announcing the tax. The Announcement The announcement of the HST was such a surprise that those affected are scrambling to respond. Both the BCREA and the REBGV are currently trying to figure out exactly how to respond and just what the impacts on the real estate industry are. I expect that we … (0 comments)
vancouver real estate: Vancouver real estate and the HST (Harmonized Sales Tax)
- 08/12/09 06:38 PM
The following is commentary from the BCREA (BC Real Estate Association) on the impact of the HST (Harmonized Sales Tax) on the BC real estate. It is reproduced here with permission of the BCREA.________________________ Harmonized Sales Tax On July 23, 2009, Premier Gordon Campbell and Finance Minister Colin Hansen announced that, effective July 1, 2010, BC will adopt a Harmonized Sales Tax (HST), combining the seven per cent Provincial Sales Tax (PST) with the five per cent federal Goods and Services Tax (GST) for a single sales tax rate of 12 per cent.An additional seven per cent tax will be charged … (0 comments)
vancouver real estate: Weekly Vancouver Real Estate Update - July 6th 2009 - Has Summer Begun?
- 07/14/09 09:52 PM
In the previous week it began to look as though we might have started to see the usual summer doldrums settle into the Vancouver real estate market. This past week looks to reinforce that trend in some ways, notably in the drop of Sales. New Listings - Vancouver After falling twice in the previous three weeks, New Listings were back with a vengeance ( +17.48%). New Listings went from 326 up to 383, the highest they've been in a month. Home Sales - Vancouver After Sales peaked two weeks before, they have come off once more (-2.39%). This small decline moved … (0 comments)
vancouver real estate: Weekly Vancouver Real Estate Update - June 29th 2009 - A little off the top
- 07/14/09 09:31 PM
Has the party ended? This past week was the first one in a while where we didn't see new records being set in the Vancouver real estate market. Of course, new records can't be set every week and it was about time that the market took a bit of a breather. It looks as though the slower summer season may be upon us. New Listings - Vancouver For the second time in the last three weeks New Listings fell ( -12.73%). New Listings had been at 372 in the previous week, but fell to 326 this past week. Home Sales - … (0 comments)
vancouver real estate: Weekly Vancouver Real Estate Update - June 28th 2009 - Record Week
- 07/14/09 05:05 PM
While I was trying to break a record on Grouse Mountain this week, the Vancouver real estate market was breaking records of its own down below. This was yet another in a growing line of strong weeks for Vancouver real estate and the trend doesn't appear to want to end. New Listings - Vancouver After falling last week for the first time in a month, New Listings rose once again (+7.20%). The previous week New Listings were 347 but this past week New Listings rose to 372. Home Sales - Vancouver For the last two months Sales of Vancouver homes have … (0 comments)
Another Record Month;)
;)
