High demand coupled with a lack of inventory. Sound familiar? That combination is not just the domain of the residential housing market, but also the multi-residential property market in Vancouver, as investors, big and small look to get a piece of the action.

According to Avison Young’s Fall 2015 BC Multi-Family Investment Report, demand for multi-residential properties in Metro Vancouver and throughout the province remained exceedingly strong in the first half of 2015. Private buyers – both local and foreign – and, to a lesser extent, institutional investors and REITs, were increasingly willing to accept record pricing and highly compressed capitalization rates as the cost of entry to British Columbia’s coveted multi-family real estate market.

Rising

Whats the difference between Assessed, Appraised and Market values???

Usually, market value is determined by what a buyer is willing to pay for a home, and what the seller is willing to accept. The recent agreed upon sale price of a home is usually the best determinant of a property's market value. However, there are circumstances where the price paid for a home is not the true market value. For example, there may be a special relationship between the parties which resulted in a much lower value being paid. Also, a buyer may have been willing to pay a premium for a property for some reason, and so it sold for much more than it would otherwise be worth.

There are several things to consider when determining the pricing of your home for sale. The most

Want to know which of he Kamloops communities had the most selling action in the 3rd quarter of 2015?

To see what for is for sale currently in the number 1 sub division of Brocklehurst CLICK HERE or to see all of Kamloops CLICK HERE

To see the full list of all Kamloops properties sold in the 3rd Quarter of 2015 CLICK HERE

To sign up for this information to be emailed to you CLICK HERE

© Kamloops and District Real Estate Association

Despite lack of choice, home sales across province rise 12 per cent year-over-year in September as buyers snap up what's on offer, according to new figures.

Unrelenting demand for real estate across BC is pulling home listings inventory to an eight-year low, according to British Columbia Real Estate Association (BCREA) figures released October 14.

There were just 39,977 units available for sale in the province in September – a low that hasn’t been seen since early 2008.

“Strong consumer demand has pulled down the inventory of homes for sale to its lowest level in eight years,” confirmed Cameron Muir, BCREA chief economist.

“Market conditions are favouring home sellers in some board areas, while contributing to relative balance between

Stability in real estate market provides safe haven for savers facing volatile capital markets

Sector remains a federal election priority for major parties and voters

TORONTO, October 14, 2015 – In the third quarter of 2015, home prices showed moderate to strong year-over-year increases in most markets in Canada, according to the Royal LePage House Price Survey¹ released today.  While the effects of the crude oil shock are still filtering through the economy, the country’s non-energy sectors are beginning to regain momentum as a lower Canadian dollar stimulates sharply higher exports, particularly to the U.S., supporting overall consumer confidence and the strength of Canada’s real estate markets.

According to the report and newly introduced

The B.C. Real Estate Association will be making a fresh appeal next Tuesday for the provincial government to lower the Property Transfer Tax.

The association, representing the province’s 18,500 realtors, will make its case during pre-budget consultations by a government committee.

This will be the fifth consecutive time the BCREA is making such a plea. And it appears this may be the year the advice is heeded.

The push for a lower PTT comes amid rising frustration in Vancouver over prohibitive house prices and mounting evidence of tax avoidance and evasion by foreign property buyers.

Locals have every reason to be apoplectic at the high taxes they are asked to pay in relation to home ownership when it is so obvious that a sizable and

Real estate agents say anecdotal resurgence of American buyers

American buyers enticed by the low Canadian dollar are scooping up B.C. properties, according to several luxury market real estate agents. 

Jonathan Cooper, vice-president of operations for the Macdonald   Realty Group, says he has anecdotally seen a resurgence of Americans interested in Vancouver homes. 

"There was activity from all nationalities around the Olympics, but especially because of our proximity to Washington state, a lot of Americans were here at that time... talked to agents, went to open houses," he says. 

"They're high net-worth families who have heard about Vancouver, love how beautiful it is ... and yeah, it's a second home for vacation purposes."

And now

Multiple Listing Service® (MLS®) residential sales in the province are expected to reach 100,000 units in 2015 for only the third time on record. This will also be the first time since 2007 that BC home sales surpass the ten year average. The surge in housing demand is broad-based across most BC regions, with nine of 11 boards expecting an increase in unit sales ranging from 10 to 26 per cent over 2014 levels. A record 106,300 homes traded hands on the BC MLS® during 2005.

The housing market is being underpinned by strong economic growth, improving labour markets, population growth and persistently low mortgage interest rates. British Columbia can boast the best performing economy in the country this year. Real GDP growth of 2.5 per cent this year and

Based on value, momentum, economic strength and rental income potential...

Anyone who’s been to or lived in Edmonton will tell you: the big West Ed Mall isn’t the city’s main attraction. “There’s so much more to Edmonton,” explains Mark Slobodan, realtor with RE/MAX Excellence. Considered the blue collar city of Alberta’s oil patch, much of the wealth comes from tradespeople who work in the oil sands. But locals also know that the city has the distinction of being Alberta’s cultural, governmental and educational centre. The University of Alberta (UofA) makes its home here, and the city’s famous nickname—“Canada’s Festival City”—is due, in part, to the vast number of festivals that are part of the city’s thriving arts scene, most of which is centred

Ever wondered where’s the best place to live in Canada? MoneySense knows.

After months of sifting through reports from Environics Analytics, Statistics Canada and other data providers, MoneySense released their annual report on the best places to live in Canada in 2015.

“In a country that measures 6,521km across, with massively different economic regions and seven distinct climate zones, you can imagine it’s a ton to digest,” writes Mark Brown, the Reports and Rankings Editor at MoneySense. “We carefully weigh dozens of factors to geta  big picture of the overall health of 209 communities across the county.”

Considering 34 different factors, MoneySense believes that there’s a strong correlation between the economics of a city and the type of life