Vancouver Real Estate

Is It A Bad Time To Invest In Vancouver Real Estate?

November 17, 2021 No Comments

In spite of having around a fifth of Canada’s population, how did British Columbia avoid a massive COVID-19 outbreak as well as a province-wide lockdown? The province has relaxed the coronavirus pandemic rules now. However, British Columbia had fewer to begin with than many other provinces, preserving a lower hospitalization rate than Ontario, Alberta, and Quebec. Generally, the West Coast has maintained a fixed stream of great news during this public health disaster.

Given that the COVID-19 was largely contained in British Columbia, does this mean that Downtown Vancouver Condos Market was also unaffected? It’s been an uneven ride, but it looks like the worst could be finished.

Vancouver Real Estate Market

The Canadian Mortgage and Housing Corporation are forecasting a major drop in the nation’s largest housing markets. It projects that Vancouver will face the largest drop of all, with prices falling 12.00% by 2022 from the 2019 average. Not everybody is convinced of a national slowdown with sales activity increasing over the past month. Local experts say that it’s challenging to monitor the information to identify developing trends.

Vancouver Realtors continue to improve new digital tools as well as practices to help their buyers meet their housing needs in a safe and responsible manner. House buyers and sellers have felt more comfortable operating in physical distancing and many other safety protocols in place over the past three months.

Greater Vancouver reports an increase in re-listing activity. There were 5,787 new listings in June, representing an increase of 57% compared to the same period last year. These dramatic trends have astonished analysts in view of that the spike occurred so shortly after the coronavirus outbreak. The number of active listings reached 11,424 and 15% more than in June 2019. Suffice it to say that if you’ve been waiting to dive into the Downtown Vancouver Condos, now might be the best time. Know more here!

Home Affordability to Attract More Clients?

One of Canada’s largest banks published its real estate affordability data for January 1st to March 31st of 2020. The Royal Bank of Canada indicated that that Canadian affordability is still deteriorating, but Vancouver has appeared the biggest improvement in affordability in the Great White North.

According to the Royal Bank of Canada, the median Vancouver household currently needs almost 80% and 4% percent less than last year. This is the sudden drop in British Columbia. Even though prices are still 31% greater than the long-term average, affordability is increasing. This is a welcome improvement for not only homebuyers but also real estate investors, especially millennials. This demographic has driven novel trends in the Downtown Vancouver Condos Market in recent years.

Vancouver Adapting to Coronavirus

Industry insiders say an important trend in Vancouver Housing has been the adaptation of buyers and sellers to this new coronavirus society. If it’s practicing social distancing or adopting stricter hygiene routines, everybody is doing their part as well as this is helping the housing market. Realtors have installed physical distancing mechanisms to comply with government health and safety commendations like other key markets. And more and more individuals are becoming more comfortable with this novel normal for housing transactions.

As well as wearing masks, gloves, and limiting contact, real estate agents take advantage of digital tools, from business papers to virtual tours. This makes buying and selling Downtown Vancouver Condos still feasible, even though the public health crisis still affects Canada. You can know more at: https://www.prudentialgrandvalley.com/important-tip-when-buying-a-vancouver-condo/

Vancouver Real Estate

Important Tip When Buying a Vancouver Condo

June 16, 2021 No Comments

It’s your third weekend to head out and view 5 new Vancouver MLS Listings that just hit the market on Thursday. One posting in the 5 looks fantastic in the photographs, yet it’s your first time going to this specific building. Your real estate agent has disclosed to you the building looks great, and he has not heard anything terrible about its development and/or condition. Once inside the condo, you are amped up for the view and the design. After seeing the conveniences, typical regions, underground stopping, extra closet and bike room, you realize that this could be your next home.

This Downtown Vancouver Condos scratches off all the cases, and you advise your agent you might want to make an offer.

Read the Strata Documents before You Offer

Before a pen is put to paper (fingertips to a console), a decent purchaser’s agent will request a duplicate of the relative multitude of strata records from the posting agent. Numerous buyer’ agents today rush to compose an offer subject to the purchaser endorsing the strata reports. I generally read the whole strata report bundle before plugging down with my customer to write a proposal on a Downtown Vancouver Condos available to be purchased.

Note any data that may influence the worth of the posting or be an undesirable expense in the close or far off future. Strata records to zero in on are the accompanying.

Structure B and financials

Minutes of the meeting including all AGM’s and Special AGM’s
Devaluation report and any Engineers Reports
Strata plan
By-Laws and Rules

Seven-day subject period

When every one of the records has been perused and a current market assessment is done, my customer and I will have a reasonable comprehension of how to continue recorded as a hard copy of an offer. Even though we have perused the reports, incorporate the standard seven workday subject provision for supporting all archives:

Provision: “SUBJECT to the Buyer, before 7 workdays from the date of acknowledgment getting and endorsing the accompanying strata reports… ”

We can demand additional data about the building during this seven-day subject period, knowing there are no curve balls or things that will influence the worth or utilization of the Downtown Vancouver Condos. Check here!

When a listing agent has a copy of the strata document?

Should the posting agent have a duplicate of the strata report before the principal day of appearances?

Indeed, undoubtedly. A posting agent ought to have every one of the strata archives prepared and accessible when the posting hits the market. If the posting agent doesn’t have the records, they cannot manage their work appropriately or expertly.

A few realities of why strata reports are significant before making an offer?
Legal strata plan may show a more modest area than the promoted area.
Depreciation Report shows spaces of concern and expected uncommon appraisals.
Form B may state forthcoming changes to the By-Laws.
Minutes of gatherings frequently tell a story of how the local area works inside the building.

In summary, knowing however much as could be expected about the building and the strata before you compose an offer is significant.

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Vancouver Real Estate

Is Vancouver’s Real Estate Market Really In Free Fall?

August 21, 2020 No Comments

Who wouldn’t want to invest in Vancouver? It’s beautiful and there are many beautiful homes to snap up; however, there has been a lot of talk about falling house prices. That’s always a concern when you own property, especially if it’s a rental or investment property. Even when it’s your family home, you can owe more than you originally bought it for. It’s a nightmare and something which many Vancouver homeowners are concerned about. So, is the real estate market in free fall?

Understanding the Average House Prices

A lot of newspapers have been talking about how the bottom is falling out of the Vancouver real estate market and if you look at the figures it does seem that way. However, while there has been a slight drop in the average house price, it isn’t as shocking as you might think. Yes, there has been a downturn in the market of late but if you actually look at the homes behind the headlines, it’s the ones worth millions of dollars. Estimations for standard family homes are pretty steady at the moment so it’s not time to panic, as yet anyway.

Traditional three or four-family homes worth a few hundred thousand dollars aren’t suddenly losing their value. Of course, if your home was worth $5 million then you have some cause for alarm. Generally, you can invest in Vancouver real estate and make a tidy profit – if you buy wisely.

Changing of the Vancouver Real Estate Market

There’s no denying that real estate can fluctuate as much as any stock or investment piece. It’s a gamble to buy a home, even when the market is pretty steady. You never know when the economy is going to nose-dive and leave you with a home that’s worth half of what you paid for it. It’s a major risk of life and one that’s often unexpected. Fortunately, if you do your homework before you buy, you can invest in Vancouver and see a nice return. Of course, nothing is guaranteed but it does help to know the market. Sometimes, buying in an up-and-coming area helps, especially if you’re buying a family or forever home. More details!

Taking the Gamble Is More about the Property You Buy

Investing in property can be a smart idea but you do have to be extremely careful. You need to understand the current state of the market and whether the home you buy is worth what you pay. For instance, a $1 million mansion in an upscale part of Vancouver might seem nice but will you be able to see a profit the way the market stands? Or, would you be more likely to see a safe return on a smaller family home in another nice area of Vancouver? The Vancouver real estate market is buoyant, somewhat, but prices on the higher-value properties are decreasing.

Watch the Markets Closely

Unless you own a $5 million home, it’s unlikely the slight decrease in house prices will affect you. Of course, that doesn’t mean a dip in the market won’t impact you at some stage. As said, the real estate market can change in an instance and you need to stay alert to that possibility. The market isn’t in free fall yet but anything can change. If you want to invest in Vancouver real estate you have to approach any property with caution. To find out more, check out https://www.prudentialgrandvalley.com/who-is-buying-vancouver-real-estate/

Vancouver Real Estate

Who is buying Vancouver Real estate?

March 20, 2020 No Comments

When looking at the current Vancouver real estate, you may be left with the question with who these days have the money to buy housing in the city. In this article we will cover just who is able to purchase real estate in Vancouver.

Foreign home owners

In recent reports conducted in the Vancouver area it has been discovered that the majority of home-owners in Vancouver are not actually residents there. The type of property often owned by non-residents tends to be condos, with the percentage of condos owned by non-residents being 30.4% higher than that of residents. However, the condos owned by non-residents often come at a higher price, 25.6% to be exact. There has also been a rise in Hong Kong buyers due to uncertain political stability in their country. More details!

New ways to buy

Due to high property prices in the Vancouver area people have been adapting and figuring out new ways to get onto the real estate property ladder. One of the ways that they have done this is by co-ownership of the property. This is when two or more people pool together their resources and purchase the property together. This can become difficult later on when they are trying to figure out who is entitled to what depending on how much each has paid, but in the meantime it get them onto the property ladder. This is normally done by either: each person gets a private suite or each one gets a bedroom and the common areas such as the kitchen, bathroom and living room are shared between all of them. This situation can get even more complicated if there are renovations needed to the property which could lead to conflict as to how to split the renovation costs. It is for this reason that it is advised that in this situation that both parties have a lawyer to help them through this process to avoid any unresolveable problems in the future.

Big earners

A study was concluded to determine just how much a person would need to make in order to be able to afford a house in different neighborhoods, and the results were shocking. In at least five of the neighborhoods in Vancouver the amount needed to purchase a property was over 100,000 USD more than the average household was making. This leaves a big gap for high earners to come in and purchase all of the property that the average household cannot afford. This leads to big earners owning more than the average family, such as a West end condo or a downtown one.

In conclusion, the majority of property in Vancouver is being purchased by either big earners or by non-residents buyers. However, this is down to the fact that Vancouver real estate is a very attractive investment for all. For more details, visit: https://en.wikipedia.org/wiki/Vancouver

Vancouver Real Estate

Up-and-Coming Vancouver Neighbourhoods

October 24, 2017 No Comments

West End condos are becoming highly sought after today and it’s all because of how popular Vancouver is getting. Vancouver is really a city that has lots to offer and it’s interesting to say the least. For those who want to make the move to Vancouver, it can be a wonderful idea and there are lots of areas which are up and coming. If you want to move to a new home, maybe you should think about which areas are considered to be amongst the best. Read on to find just a few neighborhoods which are up-and-coming today.

Kitsilano

In the North of the city, Kitsilano is one of the most beautiful and upcoming areas in Vancouver. Buyers can find the English Bay waters make a lovely view from their home and there are just so many amazing sites to view. Anyone who wants to buy a home in Vancouver will want to look into Kitsilano. It’s really a lovely area to say the least. It’s like West End Condos, the location is lovely and the homes are great.

Yaletown and Coal Harbour

People just love these areas. Yaletown offers great beauty and amazing homes and Coal Harbour does also. However, these are really quite established areas and they truly offer some of the best homes too. Anyone who lives here is going to love it and the Yaletown condos are amazing. These are amongst the best homes today and they can make you feel at home and at ease. You are going to love renting or buying within these areas too.

Does Location Matter?

A lot of people seem to think the location of their new home doesn’t matter as much as the home but how can you be pleased with the home if you aren’t pleased with the location? Far too many people don’t think about that and end up with a lovely home that’s just not quite in the right area! It’s a troubling thought to say the least because you don’t want to waste time or a lot of money buying a home that isn’t in the location you would like. Remember, once you buy the home, you’ve got the mortgage until it’s paid off! Coal Harbour condos are great but, again, if the location doesn’t work for you, the home can’t either. It’s really important to think about that before you buy property today.

Love Your New Neighbourhood

The right neighbourhood can make all the difference when it comes to buying a home. If you find a neighbourhood you love and appreciate then it’ll make the search for a home far easier. It’s really worth thinking about this and in reality it will make a big difference too. Location is just as important as the home so you should always take some time to consider them both. Hopefully you’ll be able to find the right neighbourhood and the right home and when you do, you can move in and enjoy. Find the best Yaletown condos and enjoy living in your new home. if you really want to love your new neighbourhood you should take the time to keep your new homes outsides clean and well kept

Visit this link: http://www.metronews.ca/news/vancouver/2017/10/17/more-supply-mitigates-foreign-impact-on-vancouver-housing-economist.html

Vancouver Real Estate

How to Find the Perfect Venue for a Corporate Event in Vancouver

October 24, 2017 No Comments

Invest in Vancouver. Have you thought about what you do when you want to book a venue for a corporate event? To be honest, a lot of people leave things to the last minute and it’s going to result in them losing out. You can’t really afford to leave things until the last minute when it comes to your event. However, how can you find the perfect venue for your upcoming event? Read on to find a few simple tips that might prove useful to you today.

How Big A Space Do You Need?

First and foremost, you have to think about how many people are going to attend the corporate event. Will there be fewer than ten people or greater than 50? These things matter, especially when it comes to getting a suitable venue. It’s all too easy to book a venue for a corporate event that’s far too small for the occasion. That’s really not what you want as it will cause a lot of trouble for you. You absolutely have to think about how big a venue you’ll need so that the appropriate venue can be found. Vancouver real estate varies considerably so you want the right type of property for the day.

Think About the Views

Have you thought about where the event will take place? Why not look into venues close to Coal Harbour and other waterside areas? The views will impress and really it’s not all about business so you want to ensure people like what they see, especially if you’re trying to sell the city too! People love to take their minds off the stresses of corporate worries and having great scenery to offer it’ll be welcomed! Invest in Vancouver; this is what you’re technically doing so you want to ensure the right property is chosen.

Book Ahead and Ensure Your Venue Works For Your Budget Too

You also have to ensure you plan ahead and book at least two months in advance when it comes to corporate events. Venues can book up quickly so you really need to ensure you choose somewhere that’s convenient and easy to get too. What’s more, you have to ensure the budget is going to work around the venue you choose. It’s important the budget is good and suitable for your needs so that you don’t spend too much on Vancouver real estate for the afternoon. If you don’t book ahead you might lose out.

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Find the Right Venue

Despite what you might think, it has become a lot easier to find the perfect venue if you know what to look for. It’s really quite important to find the right venue as it can set the tone to the entire corporate event. You can really enjoy the day and it’ll be far more cost-effective too. Take the time to find the right venue and you’ll find the day to go a lot smoother. It’s time to get the best for your corporate event. Invest in Vancouver and hire the right venue today.

Vancouver Real Estate

Choosing the Right Vancouver Lodging – Areas and Neighbourhoods to Consider

October 24, 2017 No Comments

Are Downtown Vancouver condos the best properties? Which areas do you want to buy or rent your new condo in? Vancouver has become a vastly popular city of late and more and more are choosing it as the place to buy and rent their new homes. You can’t blame people for loving Vancouver; it’s beautiful with amazing green landscapes and gorgeous mountains. It’s a dream location and if you’re lucky enough to live there, you will appreciate it more than you might think. However, which neighbourhoods or areas are the ones to consider today?

Downtown

Anyone who wants to appreciate Vancouver’s nightlife and bustling everyday actions, downtown is the area for you. You can opt for the Coal Harbour condos or Yaletown; these neighbourhoods are absolutely gorgeous and they really have so much to offer. Within the downtown area, you can find a lot of great shops and local amenities too. You can get a lot of peace and quiet with these areas though and that’s amazing! You get the everyday life of being in the heart of Vancouver but with peace and quiet at night. It’s ideal to say the least.

Use this link to read more information: https://www.placerealestate.ca/

West End Neighbourhood

For those who want to move a little north of the downtown area then you could venture to West End. This is a gorgeous neighbourhood with locals making you feel welcomed and at ease with them. You are going to love how many amazing restaurants are close to the area as well as lots of great shops. It’s within a walking distance of downtown and Stanley Park is not too far either. This is really a great neighbourhood to visit and West End condos are going to be very cost-effective too. Condos and homes within the area aren’t as expensive as you might think.

Mount Pleasant

Going further out of the downtown area comes Mount Pleasant. This is a wonderful neighbourhood and really this is where all the peace and quiet happens! Anyone who wants to enjoy a quiet night will love Mount Pleasant and there’s really a lot it has to offer. However, it’s not too far from the downtown area so you can still drive or get the bus into the heart of the city. Like Coal Harbour condos and homes, the homes here are fantastic. Nicely priced, the homes are sure to attract a lot of buyers and renters. This is a great area and even though it’s further from the downtown area, it’s really quite lovely and highly popular.

Love Your Downtown Vancouver Condos

Vancouver is truly one area which thousands adore each and every year simply because it offers something exciting. When you choose Vancouver you are welcomed into a new community with a lot of choice over your lodgings. It doesn’t matter if you want to buy or rent, there are many great homes for you to choose from. You can choose high rise condos, semi-detached homes as many others. It’s a dream city and it’s going to be one you adore too. Find the best West End condos and enjoy your new surroundings.