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From caves to modern architecture, people are looking for the ideal shelter, significantly affecting their quality of life. Indeed, owning a house has become crucial for stability and comfort. As the real estate industry has been steadily developing to cater to all kinds of societal needs, different types of home styles have been created. Todays’ houses are well designed to use the space efficiently...

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Canada is a dream destination for many residents, and becoming a homeowner there is a life goal for many of them. No wonder, the hot real estate market in Canada attracts many investors. Nevertheless, it’s not as easy as one might presume to make a real estate investment in Canada. There are many challenges that one can face when trying to buy a house in Canada. Let’s enlist some of them...

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If you’ve ever wondered how to buy a presale condo but have been intimidated by the unfamiliarity of the process, this how-to guide is for you. First-time homebuyers and individuals new to the presale or pre-construction condo market typically have many similar questions, all of which are straightforward and easy to answer. Once you’ve taken in the information below, you’ll know exactly...

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Above all, everyone requires their own space in this vast universe. However, it’s primarily a matter of time and money. According to recent statistics, an increasing number of people are renting houses nowadays. The reason is obvious. They don’t want to overpay.

In fact, owning a home has always been regarded as a symbol of wealth. Every single person who has purchased a home has taken a...

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There’s no question that the real estate market in British Columbia has been white-hot over the last year. Since the pandemic began in March 2020, we’ve seen significant year-over-year increases in sales and home prices across the province. The province has now entered phase three of BC’s Restart Plan, as an increasing percentage of the population has been vaccinated, and fewer individuals...

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Unlike car insurance, home insurance isn't usually mandatory. But it’s still not a policy to cut corners on. Knowing you're protected if a storm causes property damage, a burglary results in a loss of valuables, or a lawsuit causes significant financial burdens can provide peace of mind. If you're purchasing with a mortgage, as most homebuyers do, a bank or other lenders may require home insurance...

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All the key tips to buying, using, and even renting out a vacation home.


So, you are looking to purchase a second property! Congratulations! This is an incredible opportunity and we are here to help provide you with the keys to success to expand your financial portfolio and ensure stability for the future.

Before you launch into this purchase there are a few things you should know, depending on which...

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The Canadian Mortgage and Housing Corporation (CMHC) has implemented new underwriting criteria (eligibility requirements) to apply for homeowner transactional and portfolio mortgage insurance. Introduced earlier this summer, these new adjustments from CMHC come as a precaution while the COVID-19 pandemic continues to impact consumers in the real estate market and many other aspects...

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The key to falling in love with a home, whether it's a rental or purchase, is to bring your own personal style and flair to the space. There are plenty of ways for renters to remodel without losing their security deposit, and these do it yourself projects make for great, quick upgrades to any home. Really, easy decorating options for rentals are endless once you start looking for inspiration. We...

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The BCREA Economics team has created the COVID-19 Reopening Dashboard to help REALTORS® monitor the evolution of the BC economy as the province gradually reopens. This dashboard focuses on the sectors and activities that have been most significantly impacted by the pandemic and the province's subsequent state of emergency.

To monitor the province's progress toward a "new normal," we benchmark...

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Stand-alone showers have been rising in popularity as the primary bathing method in many homes—they’re practical, spacious, and downright gorgeous. If you’ve been reconsidering your bathroom’s space with a shower conversion, think about the following important considerations to help you get started.

Can it affect my home’s resale value?

While it’s usually recommended...

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If you’re thinking of buying a home, you’ve come to the right place. Once you’ve decided you’re ready to buy, REALTOR.ca can guide you through the entire process and a REALTOR® can help take care of the rest.

Here’s an overview of what to think about:

Prepare to buy

Few joys can match the pride of owning a home, but the responsibility can also come with sacrifices ...

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Not surprisingly, the COVID-19 pandemic had a devastating impact on the number of transactions in the Metro Vancouver housing market.


This morning, the Real Estate Board of Greater Vancouver announced a 56.1 percent decline in sales in April compared to the previous month.


The April sales were a whopping 62.7 percent below the 10-year average for that month and the lowest since the deep recession of...

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From virtual picnics to video-chat mimosas, you can still celebrate her from afar.


From birthday car parades to virtual happy hours, we're starting to navigate this whole "shelter in place" thing relatively well, all things considered. But a socially distanced Mother's Day feels particularly hard, doesn't it? After all, your mother's likely the very person you need most right now—for a reassuring...

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(BPT) – This year spring cleaning is more than ever about the deep clean. Spring typically inspires a little more time dedicated to cleaning, in fact, a recent survey commissioned by Bona and conducted by Harris Poll found that more than half of U.S. adults say that the start of spring triggers extra cleaning in the household. While in the past it might have been more about simply dusting har...

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Sure, you can afford your home now, but what if mortgage rates go up?


Low interest rates and mortgages have been a fact of life in Canada for some time now. At the time of publication, the 5-year average mortgage rate has hovered around 5% for nearly a decade. This is a far cry from late 1981 when mortgage rates were as much as 21%.


New mortgage rules

In 2017, the Office of the Superintendent of Financial...

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Is It Different This Time? Recessions and the BC Housing Market

Summary Findings:
  • The 2020 COVID-19 driven recession will be deep, though the duration may be shorter than past recessions
  • We expect that home sales will post an initial sharp decline as households and the real estate sector adhere to social distancing
  • As measures implemented to mitigate the spread of COVID-19 are gradually lifted, we expect that low interest rates and pent-up demand will translate to a significant recovery in home sales and prices
The Canadian economy has weathered three recessions in the past 40 years, each unique in cause, depth and duration. However, there is considerable similarity in how the BC housing market has both endured and recovered from those recessions.

In this market intelligence, we examine the impact of past recessions on the BC housing market and provide preliminary projections on how COVID-19 may impact provincial home sales and prices over the next 24 months.

The 2020 Recession – How bad and how long?

The 2020 recession likely began in February, meaning it is still in its very early stages. Since 1980, the average Canadian recession has lasted between 8 and 25 months and is characterized by a contraction of about 4 per cent in real GDP and a jump in the unemployment rate of 4.5 percentage points.

Provincial economic data is only available annually, making it much harder to track the duration of recessions. We know that during the 1981/82 recession, the BC economy contracted by 6.4 per cent, and the unemployment rate jumped nearly 10 points in the worst recession on record for British Columbia. The provincial economy performed much better in the 1990-92 recession, with real GDP eking out meager growth over that period, though the provincial unemployment rate did spike to nearly 11 per cent. During the 2008- 09 Financial Crisis and recession, we estimate the BC economy peaked in November of 2008 and contracted 3.7 per cent over the following 12 months while the unemployment rate rose more than 4 points.

Historical Recessions: Canada and BC
...
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In Iran, the idea of “spring cleaning” isn’t just a seasonal excuse to gut your closet; it’s the basis of a national holiday dating back millennia.

Every year, millions celebrate Persian New Year, or Nowruz (prounced “no-rooz”). In Iran, the new year begins with the advent of spring, and most everyone in the country — not to mention the millions of Iranians...

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Information related to the efforts to mitigate the outbreak of COVID-19 is constantly evolving. First and foremost, we recommend to follow the guidelines and precautions set by Canada’s public health authorities. See Health Canada’s website for comprehensive coverage.

In ongoing discussions with government officials from various departments and agencies, we continue to emphasize the unique challenges as economic measures to support self-employed Canadians and small businesses are considered. The result of these advocacy efforts since the emergence of COVID-19 are captured below.
  • Government introduced the Emergency Care Benefit, providing up to $900 bi-weekly for up to 15 weeks, to workers, including the self-employed, who are quarantined or sick with COVID-19, as well as those who are taking care of a family member who is sick with COVID-19, but do not qualify for Employment Insurance (EI) sickness benefits. Application for the Benefit will be available in April 2020 through the Canada Revenue Agency My Account secure portal, My Service Canada Account, or through an automated application process by telephone.
  • Also announced was the Emergency Support Benefit, which will provide up to $5 billion in support to workers who are not eligible for EI and who are facing unemployment. This will be available to Canadians who are self-employed; more details will be provided in the coming days.
  • For small businesses, government will provide a temporary wage subsidy for a period of three months, equal to 10% of remuneration paid during that period, up to a maximum subsidy of $1,375 per employee and $25,000 per employer. The subsidy is available to corporations eligible for the small business deduction, as well as non-profit organizations and charities.
  • Businesses will also be allowed to defer, until after August 31, 2020, the payment of any income tax amounts that become owing between now and September 2020. This applies to tax balances due, as well as instalments, under Part I of the Income Tax Act. No interest or penalties will accumulate on these amounts during this period. 


The full list of measures announced by the government today is available here. It is expected the House of Commons will be recalled next week to pass the emergency economic measures.

While all the details of the various programs announced today are not yet available, the Governor of the Bank of Canada concluded today's press conference with the assurance that "if people need the support, they will get it." 


Canada's six largest banks also announced financial relief for Canadians impacted by the economic consequences of COVID-19, including up to a six-month payment deferral for mortgages and the opportunity for relief on other credit products.


Source: 

The Canadian Real Estate Association
...
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For free Real Estate Advice please call/text me at (604) 537-9791 

Summary Findings: 

  • While it’s unknown how the unfolding COVID-19 outbreak will impact the economy in the long-term, BC is facing a sudden stop in economic activity with little guidance to when things may return to normal. 
  • Based on our scenario analysis, BC home sales and prices will likely face declines in the spring...
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Moe Pourtaghi


"Nothing brings me more joy than seeing my buyers & sellers have success in their Real Estate endeavours. I hope you find the articles on my blog inspiring and educating in your ventures." - Moe Pourtaghi

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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.