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Blog by Mario Felicella - Sutton Group Westcoast Realty

New CMHC rules make it easier for homeowners with suites to borrow money

July 29th, 2015

First-time home buyers in Metro Vancouver's hot housing market will soon get a break when it comes to buying a new home.

Starting this fall, the crown corporation will allow buyers to include their income from secondary suites when they apply for a loan.

The rule change is aimed at boosting affordability, although some experts say the new regulations could actually further heat up housing marke ...

2623 1ST Ave W, Vancouver West, British Columbia

July 27th, 2015

I just finished uploading this Duplex for sale, 2623 1ST Ave W, Vancouver West, British Columbia

Amazing views! Stunning 3 bed-4 bath-3 level new half-duplex steps from the beach. This tremendous home offers grand entry, huge open living and dining area and fabulous gourmet kitchen (Sub Zero fridge, Wolf range, Bosch dishwasher) ideal for family/entertaining. Over height ceilings and wood floo ...

Vancouver housing prices to rise another 10% by December

July 22nd, 2015

While some are betting the Vancouver housing bubble is about to burst, Royal LePage is predicting the value of a home will rise 10 per cent in 2015.

The detached two-storey and bungalow homes continue to be Vancouver’s most sought-after properties, with prices rising about 13 per cent between the second quarters of 2014 and 2015. For condo owners, values rose as well, but at a slower pace at 6 ...

Rate cut could add fire to Toronto and Vancouver housing markets

July 13th, 2015

A further interest rate cut by the Bank of Canada could further fuel flames in the country’s two biggest real estate markets which are once again showing signs of overheating, housing watchers say.

“It’s another log on the fire for the Toronto and Vancouver housing markets,” says economist Sal Guatieri, vice president of BMO Economic Research, who expects to see a cut next week in an attempt ...

Vancouver real estate market hottest on record

July 6th, 2015

As economists warn that Canada is tipping into a recession, it seems nobody has told the Vancouver real estate market. It had the hottest June on record, according to the Real Estate Board of Greater Vancouver.

"Demand in our detached home market continues to drive activity across Metro Vancouver," said Darcy Mcleod, the board's president.

"There were more detached home sales in the region last ...

Housing costs not slowing inflow of young families

July 2nd, 2015
Despite concerns about Vancouver’s high cost of housing pushing young people out of the city, the region has seen a significant increase in the 30-to-40 age group over the past three years, according to a recent report from the Bank of Montreal (BMO).

Since 2012, 16,000 people in that age group have moved to the city, numbers not seen since the end of the 1990s. That’s reversed a period of sta ...