Category: Uncategorized
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Exploring the Best Mortgage Options for Every Situation
When searching for a mortgage, it is essential to compare lender costs such as interest rates and closing fees. It is advisable to shop lenders within a 45-day window to avoid multiple credit inquiries negatively affecting your score. Home buyers typically opt for a 30-year conventional fixed-rate mortgage, but it is important to understand all…
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Canadian Housing Market Forecast 2023-2024
Bank of Canada's rate hikes and hawkish signaling may slow down housing market activity. Anticipated rate cuts by the Bank of Canada in 2024 may stimulate sales and prices. Low supply in the resale market due to healthy job markets and lengthened amortizations; expected rise in listings next year. Low supply in the resale market…
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Lock-off units: Could they make Coquitlam living more affordable? – The Tri
Coquitlam is attempting to ease the housing crunch by dropping the rent for tenants in new below-market housing suites and adding a cheaper type of housing for renters near the Millennium Line. The proposed changes to the zoning bylaw are receiving mixed reviews and will go to a public hearing in September. If approved, the…
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Coquitlam should build ‘conventional’ townhomes: councillor
Coun. Robert Mazzarolo has voted against the first reading of a bid by Domus Projects to build 59 townhouses in the Burquitlam enclave of Oakdale due to his objection to the studio units and one bedroom units. Mayor Richard Stewart argued that the project provides family-friendly and senior-friendly housing. The public hearing on the rezoning…
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BCREA: BC Housing Market Resilient Despite High Rates
The British Columbia Real Estate Association (BCREA) recently released its 2023 Third Quarter Housing Forecast Update, forecasting Multiple Listing Service® (MLS®) residential sales to decline 2.8% to 78,640 units this year. Prices have been resilient, with average prices in BC varying widely throughout the year and reaching just over $1 million in May. For 2024,…
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Most Affordable Cities to Buy a Home in British Columbia
Home prices rising in Lower Mainland, prompting buyers to seek affordable options. Kamloops is the most affordable city, with avg home price of $539.8K, and saving ~$450K vs the provincial avg.
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Happy Labour Day
Happy Labour Day! Labour Day is a chance to honor and appreciate the hard work and contributions of workers in various industries. It's a chance to look back at workers' rights achievements and labor rights progress over time. Sending warm wishes on Labour Day to honor the dedication and contributions of workers everywhere. May your…
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Economists Expect Canadian Home Prices To Continue Moderating, But Affordability Won’t Improve
Following a period of frenzied activity in the spring, back-to-back interest rate hikes have caused a decline in Canada's housing market. Home sales dropped 0.7% in July, and although the MLS Home Price Index (HPI) rose 1.1%, economists predict that prices will continue to moderate in the coming months. High interest rates have also made…
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White-hot Metro Vancouver industrial market starts to cool, but new space still needed • RENX • Real Estate News Exchange
The Metro Vancouver industrial property market is showing signs of cooling off after four years of record-high asking rates. The vacancy rate in Q2 2023 increased to 0.6%, while availability climbed to 1.7%. Although 1 million square feet of new industrial space was added, only 5% of it entered as vacant. There is an expectation…
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How To Buy A Home In Canada Without Family Help In 2023
The Canadian real estate market presents various challenges for those looking to buy a home. Financial help from loved ones is now commonplace, and there are many alternatives, such as the First Home Savings Account (FHSA) and the First Time Homebuyer Incentive. The FHSA is available to Canadians under 40 and provides up to $8,000…