“After a strong first quarter, BC markets are now adjusting to a much different interest rate environment,” said BCREA Chief Economist Brendon Ogmundson. “With mortgage rates surpassing 4 per cent for the first time in over a decade, the housing market over the next two years may have very little resemblance to the housing market of the past year.” It’s … Read More
An Exciting Opportunity for Grade 12 Students in Western Canada
As September 7th rolls around, students across British Columbia are gearing up for the return to school. For those with teenagers embarking on their final year of high school, there’s an added thrill: an essay contest that could be an exciting opportunity for them to showcase their writing skills. Program Details: RE/MAX of Western Canada is presenting an outstanding opportunity … Read More
New Mortgage Stress Test Rules Start June 1st
For many Canadians, buying a home represents the most significant financial investment they will ever make. However, the dream of homeownership is becoming increasingly out of reach due to soaring housing prices, affecting middle-class citizens nationwide and prompting concerns about market stability. In response to these market conditions, starting on June 1st, 2021, the Office of the Superintendent of Financial … Read More
Reasons To Sell Your Home In The Summer
Your Home Will Look It’s Best: Summer in the Fraser Valley is truly a beautiful time of year. In the summer, the trees, flowers, and curb appeal is at its peak which in turn can increase the value of your home. Not only will this mean your showings will be more positive, the photos will also be at their best. … Read More
OSFI Considers Increasing Stress Test For Uninsured Mortgages
Sound residential mortgage underwriting is always important for the safety and stability of financial institutions; today it is more important than ever. – Jeremy Rudin, Superintendent The Office of the Superintendent of Financial Institutions (OSFI) restarted its consultation on the minimum qualifying rate for uninsured mortgages, and re-emphasized the importance of sound mortgage underwriting. This is likely stemming from several … Read More
Fraser Valley Housing Market Update – February 2021
Can you believe it’s March already? It seems like February was gone in the blink of an eye. February was yet another record breaking month for property sales in the Fraser Valley. Our team completed 10 deals for our valued buyers and sellers! *Chris Shields, President of the Board said of this month’s record numbers, “This is new territory for … Read More
Your BC Property Assessment For 2021
It’s that time of year again! The B.C. Assessment Authority released its online record of property valuations for 2020. BC Assessment collects, monitors and analyzes property data throughout the year. Property assessments are based on property values as of July 1st of every year. Interested in learning more about the assessment process, appeals and what the results mean for you? … Read More
Welcome Fall in the Lower Mainland
Pumpkins, leaves, apple picking, crisp autumn air… What’s not to love about fall? Let’s welcome the change of the season with some festive activities. Here are some great ways to celebrate fall and support local businesses right here in the Lower Mainland. Take an afternoon stroll in one of our community parks and take in the fall scenery. The Fort … Read More
What to know about buying New Development
Pros + Cons of Buying New Construction (plus a few tips) Investing in new construction can be rewarding and hurtful at the same time. Let’s compare the pros and cons of buying a brand new home. Pros Everything is brand new Clean, shiny, and trendy floor plans that have never been lived in is definitely an appealing factor compared Picking exactly … Read More
Cloverdale Real Estate: Lowest Priced Homes
Something we hear ALL the time from people (especially first-time buyers) is “everything is so expensive, I’ll never be able to own my own home.” The truth is that is not always the case. Okay, yes you may not be able to afford a 3,000 sqft home in Brookswood with a suite or a penthouse condo downtown, but in reality, … Read More