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Are You Ready to Buy Your Next Home in Vancouver?

If you are ready to buy your first house, condo or townhouse in Vancouver Yaletown, Kitsilano, Vancouver Downtown, Gastown, West Vancouver, Coal Harbour, Kerrisdale, False Creek or other parts of the Lower Mainland, then there are three vital tips that you will want to keep in mind as you prepare to enter into the Vancouver real estate marketplace. By following these tips, you will be in the best possible position to ensure that you really will be able to find and buy your dream home.

Get Pre-approved for a Home Mortgage

Perhaps the most important step that you should keep in mind when it comes to buying your first home is to get pre-approved for a home mortgage loan. By getting pre-approved for a home mortgage loan before you start looking, you will be in a far stronger position to enter into a real estate contract.

The typical home seller will be more eager to enter into a sales contract with a person who has been pre-approved for a home mortgage loan. One of the biggest obstacles to closing a real estate deal in Vancouver and the Lower Mainland is usually the inability of the buyer to obtain acceptable bank financing. By coming to the bargaining table with a pre-approved home mortgage, you will be able to demonstrate to a seller that you are serious about buying their home.

Develop a Specific Home Buying Plan

Another important step that you will want to take when it comes to buying your first home is to develop a specific home buying plan. If you do not have a plan, you will often be tempted off course in your search for that perfect property. A Vancouver REALTOR® will help you set up your plan.

Perhaps the most significant element of a plan is to set forth specifically what you are willing to pay for a house, condo or townhouse. The failure to establish such a budget oftentimes results in a person ending up spending far more on a home than he/she can actually afford.

Consult with a REALTOR®

Finally, your interests can be best served by engaging a professional Vancouver real estate agent to assist you in your search for your home. Our agents will provide you with the newest Vancouver MLS real estate listings, advise you on all facets of a property and the current market, guide you through the complex contract negotiations and always be there for your needs. By selecting a professional Vancouver real estate agent to assist you in your home search, you have the best chance for success in finding your ideal Vancouver house, condo or townhouse and ensuring your experience is both exciting and stress-free.
 
 

 

Latest Vancouver Real Estate News

I have sold a property at 808 2220 KINGSWAY ST in Vancouver
I have sold a property at 808 2220 KINGSWAY ST in Vancouver.
KENSINGTON GARDENS by Westbank - an integrated urban community comprised of three unique residential towers, a collection of townhouses and a residential podium linked by an elevated landscaped courtyard, a new park and plaza. This corner 2 bedroom + den open plan offers large living area with a spacious balcony, Miele/Blomberg hidden appliances, Corian Countertops, wide-plank H/W floors, quartz vanity, Grohe fixtures and expansive windows with North/West views. Five star amenities including elevated courtyard with BBQ area and outdoor fireplaces; lounge, swimming pool, fitness center, sauna/steam and hot tub. Includes 1 secure parking stall. Assignment of contract please call realtor for more information.
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Cambie Corridor Housing

The City of Vancouver has a desire to redevelop the Cambie Corridor and launched the three-phase planning program in 2009 with the purpose of guiding long-term, transit-oriented growth. The Cambie Corridor is located in central south Vancouver and encompasses approximately 2,471 acres. This area extends 6km from West 16th Avenue to the Fraser River and is bordered by Oak Street and Ontario Street. The Cambie Corridor has roughly the same population as the West End, but five times the land area. 4 out of the 9 Canada Line stations are within the Cambie Corridor. Map view can be found below.

Source: City of Vancouver, Cambie Corridor Phase 3 Community Profile

Currently, Phase 3 is underway by building on the plan, focusing on land use and new housing opportunities while remaining within close...

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Sales Surge in BC Homes

While it has been an ongoing trend that demand has been outpacing supply, residential sales have not been slowing down. In the latest market stats released mid-June by the British Columbia Real Estate Association (BCREA), there continues to be a month-over-month surge in residential sales. There has been a 26% increase in sales from April 2017 to May 2017 with a total of 12,402 residential home transactions. If it weren't for the low supply, 20-year low as a matter of fact, sales figures may even be higher than actual figures. This amount is 8% lower than May 2016 when the market was hot.

As you can see below, as a result of 9 of 11 real estate boards in BC having a home sales to active listings ratio above 20%, this has resulted in a seller's market. The BCREA states that anything greater than...

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Housing Demand Outpacing Supply

Following suit with previous months, housing demand is still continuing to outpace supply. In May 2017, MLS® recorded a total of 12,402 residential unit sales and an average MLS® residential price in BC of $752,536 which is a 7.9% decrease and 4.2% increase, respectively, from the same period last year. Total sales dollar volume amounted to $9.33 Billion which is a 4% decrease from May 2016. 

“Market conditions have tightened considerably this spring as an upturn in consumer demand has not been accompanied by a rise in homes listed for sale,” said Cameron Muir, BCREA Chief Economist. “The supply of homes for sale in the province has fallen 50 per cent over the past five years.

There is a shortage of housing supply in the entire southern portion which...

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CMHC Homebuying Resources

The Canadian Mortgage and Housing Corporation (CMHC) has useful tools for homebuyers to get a better understanding of the housing market.

Mortgage Calculator

Some homebuying tools the CMHC has includes the Debt Service Calculator which gives homebuyers the opportunity to evaluate their current financial situation in order to determine how much they can comfortably afford to spend on a mortgage. Another tool is the Mortgage Payment Calculator that calculates the mortgage amounts and their frequency. For a look at more tools, click here.

Ready Set Home

This mobile app put out by the CMHC allows homebuyers, especially first-time homebuyers, to make informed choices during the homebuying process. This is available to iOS, Android and Blackberry.

Housing for Newcomers

This resource provides information...

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Open House. Open House on Saturday, June 17, 2017 2:00PM - 4:00PM Host Agent: Amalia Liapis Contact: 604-618-7000
Please visit our Open House at 2755 27TH AVE E in Vancouver.
Open House on Saturday, June 17, 2017 2:00PM - 4:00PM Host Agent: Amalia Liapis Contact: 604-618-7000
MUST SEE - Solid, well maintained 4 Bedroom / 2 Bathroom home in tranquil residential neighbourhood with stunning views of downtown and mountains! Open layout and large principal rooms throughout. Main floor includes two bedrooms, 1 bathroom and below is a finished 2 bedroom, 1 bathroom self contained suite with a separate entrance. All windows replaced, newer roof, gas / forced air heating, external laundry room, HUGE back patio and large carport. Centrally located and just minutes walking distance to Skytrain, John Norquay Elementary, Slocan Park and more. Don't miss this one! Open House Saturday, June 17, 2-4pm...
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New property listed in Renfrew Heights, Vancouver East
I have listed a new property at 2755 27TH AVE E in Vancouver.
MUST SEE - Solid, well maintained 4 Bedroom / 2 Bathroom home in tranquil residential neighbourhood with stunning views of downtown and mountains! Open layout and large principal rooms throughout. Main floor includes two bedrooms, 1 bathroom and below is a finished 2 bedroom, 1 bathroom self contained suite with a separate entrance. All windows replaced, newer roof, gas / forced air heating, external laundry room, HUGE back patio and large carport. Centrally located and just minutes walking distance to Skytrain, John Norquay Elementary, Slocan Park and more. Don't miss this one! Open House Sunday, June 11, 1-3pm
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Open House. Open House on Sunday, June 11, 2017 1:00PM - 3:00PM Host Agent: Kane Ryan 778-223-5961
Please visit our Open House at 2755 27TH AVE E in Vancouver.
Open House on Sunday, June 11, 2017 1:00PM - 3:00PM Host Agent: Kane Ryan 778-223-5961
MUST SEE - Solid, well maintained 4 Bedroom / 2 Bathroom home in tranquil residential neighbourhood with stunning views of downtown and mountains! Open layout and large principal rooms throughout. Main floor includes two bedrooms, 1 bathroom and below is a finished 2 bedroom, 1 bathroom self contained suite with a separate entrance. All windows replaced, newer roof, gas / forced air heating, external laundry room, HUGE back patio and large carport. Centrally located and just minutes walking distance to Skytrain, John Norquay Elementary, Slocan Park and more. Don't miss this one! Open House Sunday, June 11, 1-3pm
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OPEN HOUSE - 2755 EAST 27TH AVENUE

Come join Kane Ryan for our open house on Sunday June 11th from 1 to 3pm at 2755 East 27th Avenue. This spacious 2,100SF home located in a tranquil residential neighbourhood boasts of stunning views of downtown and mountains. We look forward to seeing you there!
 
More details: 2755 East 27th Avenue
 
For all your real estate needs, contact Amalia Liapis at 604-618-7000 or alternatively at amalia@wesellvancouver.ca.
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Steady Growth in BC's Commercial Sales

The Commercial Leading Index (CLI) provides insight on early signals of turning points between expansions and slowdowns in commercial real estate. The BCREA CLI "forecasts changes in broad commercial real estate activity. [Their] research shows that the variables that compose the CLI reliably forecast BC commercial real estate activity at a lag of two to four quarters. The index is revised each quarter, due to revisions in the underlying data". 

For the fifth consecutive quarter, the CLI has seen another rise in index points of 0.5 from the 2016 Q4 to 2017 Q1. The index is now 128.0 which is a 4% increase from a year ago and a 0.4% increase on a quarterly basis. The economic activity and employment components of the CLI have been contributing factors to the economic and employment growth...

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