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Blog by Mario Felicella - Sutton Group Westcoast Realty

3608 East Georgia, Vancouver East, BC

June 25th, 2015

I just finished uploading this House for sale, 3608 East Georgia, Vancouver East, BC

Great opportunity for first time buyer or renovator! The cute home is the perfect “fixer upper”. Southern back yard with lane. Great location just blocks from shopping, schools and Adanac Park.

Why flipping Vancouver homes has become profitable

June 25th, 2015

About 20 per cent of detached homes in Vancouver sold in the last 17 months were re-sold within a year, with some speculators making hundreds of thousands of dollars in profits, according to a study by New Westminster's Landcor Data Corp.

The report, published in Business In Vancouver, follows a plea from Vancouver Mayor Gregor Robertson to Premier Christy Clark to impose a “luxury tax” on pro ...

B.C. home sales hit eight-year high for May

June 16th, 2015

B.C. home sales reached an eight-year high for the month of May this year, when $6.4 billion changed hands during real estate deals.

The latest numbers from the B.C. Real Estate Association (BCREA) show that 10,174 residential units were sold last month, up 16.6 per cent from May 2014. Of those, 4,145 were sold in greater Vancouver, where a whopping $3.75 billion in sales was recorded.

The aver ...

Could an interest-rate hike cool B.C.'s real estate market?

June 10th, 2015

If the Conference Board is correct in its latest prediction, things could become interesting in B.C. next spring.

“We believe the Bank of Canada will begin raising (interest) rates in March 2016,” a new report from the Ottawa-based economic think-tank says, predicting slow and gradual rate increases thereafter.

The bank will be pressured to act in response to “inflation pressures (which) will b ...

Vancouver and Toronto house prices soar amid spring rush

June 4th, 2015

The mad rush to buy a home continued in the Toronto and Vancouver housing markets in May, despite a shortage of listings and housing prices that have risen sharply in the past year.

In the Greater Toronto Area, the average selling price for all home types rose by 11 per cent in May, compared with the same month the year before, to $649,599. In Greater Vancouver, the composite benchmark price ...