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Property Assessments vs. Market Value

Property Assessments vs. Market Value

Property Assessments vs. Market Value Short Version: Do not rely on your BC assessment for a fair market value of your property. The value printed on that document was arrived at in July of the previous year, the market may have changed a bit since then, and not in...
Happy New Year!

Happy New Year!

Happy 2017! I have always subscribed to the mindset of ‘The 1% Difference’. The theory being that whatever challenge, if approached with just 1% more effort than the average person, then (thanks to the magical beauty of compounding) there will...
Interest Rates, First Time Buyers & Socks

Interest Rates, First Time Buyers & Socks

Following a similar post 363 days ago of the same title…this post is a very brief summary of two much longer ones written earlier today. You may click the links that follow for the long version. As we race into the holiday season, a few brief notes for first-time...
BC Home Partnership Program

BC Home Partnership Program

This is good news, albeit with some challenges to be addressed, and likely to have a very small effect (miniscule even) – but still it is good news!   On Dec 15, 2016 the BC Government announced that it is launching a ‘Homeowner Mortgage and Equity...
Tell Me About Interest Rates…

Tell Me About Interest Rates…

Some facts, and some thoughts on the recent movement we have seen with regard to interest rates. VARIABLE & SHORT-TERM FIXED Variable-rate and short-term (1, 2, & ~3 yr) fixed are largely dictated by Bank of Canada decisions. The last Bank of Canada decision...
How a Backup Offer Can Secure Your Dream Home

How a Backup Offer Can Secure Your Dream Home

Have you found the house of your dreams? But there is already an accepted offer in place? OK, but are there outstanding subjects on the offer? Perhaps there’s a ‘subject to sale’ with a 72-hour trigger clause against the potential buyer, and this one condition might...
Interest Rates & More

Interest Rates & More

Interest Rates Last week we touched on TD’s 0.15% move with existing variable-rate mortgage clients. There is nothing new to add this week as TD remains the only lender to make such a move with variable-rate clients. Perhaps TD backs down soon, perhaps other banks...
What Happened With Prime?

What Happened With Prime?

Did Prime go up?   No.   Did my Variable rate mortgage rate change?   No, not unless your variable rate mortgage is with TD.   So the Bank of Canada did not raise rates?   No, in fact they are more likely to lower rates than increase them....
Real Estate Stats; The Sky Is Not Falling

Real Estate Stats; The Sky Is Not Falling

Numbers; the bane of our modern existence. We increasingly put our faith in, and base decisions on, what the numbers tell us. Which is to say we allow our decisions, and mindset, to be shaped by the people filtering and publishing the numbers. And the numbers can be...
Market Averages, Government Intervention, & Reality.

Market Averages, Government Intervention, & Reality.

In the Vancouver market, we often hear about the benchmark price, the average price, and the median home price. Usually that of a specific neighbourhood or municipality.   However, what buyers rarely hear is the average price of the bottom 80% of listings of the...