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“Seller lives overseas” – Five in six Westbank Vancouver House units on market empty

Five in six condo units at Westbank’s recently completed Vancouver House currently on the market are unoccupied and some sellers are overseas, sales listings show. Out of the 18 listings currently on the market, only three are listed as being occupied, and listings for some empty units indicate that the seller is overseas. These figures […]

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Metro Vancouver detached home prices falling sharply in March

Growing fears of an unprecedented global economic crash is sending Metro Vancouver detached house prices tumbling in March. The OpenHousing House Price Index for detached properties – calculated using the generally-accepted and transparent repeat sales or Case-Shiller method – fell 7.09% year-over-year, the March preliminary month-end update shows. The 6.49% contraction from February means the […]

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Metro Vancouver townhouse prices fall in February

Metro Vancouver townhouse prices fell again in February 2020, recording the largest price drop among residential property types tracked by OpenHousing. The OpenHousing House Price Index for townhouse properties – calculated using the generally-accepted and transparent repeat sales or Case-Shiller method – fell 7.37% year-over-year, the February preliminary month-end update shows. Here’s what townhouse sales […]

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Metro Vancouver condo prices slide in February

Metro Vancouver condo prices fell again in February 2020 as the growing condominium insurance crisis appears to put pressure on prices. The Open House House Price Index for condo properties – calculated using the generally-accepted and transparent repeat sales or Case-Shiller method – fell 5.36% year-over-year, the February preliminary month-end update shows. Here’s what condo […]

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Metro Vancouver detached prices fall in February

Metro Vancouver detached home prices fell again in February despite an increase in sales compared to February 2019. The Open House House Price Index for detached properties – calculated using the generally-accepted and transparent repeat sales or Case-Shiller method – fell 2.45% year-over-year, the February preliminary month-end update shows. Here’s what detached sales looked like […]

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Vancouver foreclosure spike hits CIBC

CIBC has initiated 15 foreclosure proceedings in Vancouver as of February 26, according to court records. In contrast, the number was nine in 2019 and just two in 2018 for the first 57 days of the year. There has been no significant change in mortgage balances in the Vancouver area as reported by the bank. […]

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Mortgage fraud amplified foreign money, court case reveals

Vancouver’s runaway housing prices have long been blamed on foreign money. But a recently concluded BC supreme case reveals that the impact of foreign money has been amplified by mortgage fraud. Meet wealthy businessman Jian Guo Wang who moved to Canada from China with his wife Fei Fei Wu to give their daughter Yi Meng […]

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Westside home sells for 54% below asking price in foreclosure sale

A Vancouver Westside home has sold for 54% below its original 2016 asking price as part of a foreclosure sale by a subprime mortgage lender. Sales records show that 2075 West 19th Avenue was put up for sale in July 2016 for $8,288,888. After being on the market for more than three years, and plenty […]

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Metro Vancouver condo prices sink in February

Metro Vancouver condo prices retreated in February 2020 as prospective buyers appear to get spooked by the looming condo insurance crisis. The Open House House Price Index for condo properties – calculated using the generally-accepted and transparent repeat sales or Case-Shiller method – fell 6.10% year-over-year, the February mid-month update shows. Here’s what condo sales […]

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Metro Vancouver detached prices dip in February

Metro Vancouver detached market continued to slide in 2020, with February prices dipping as buyers return to the sidelines amid global economic uncertainty. The Open House House Price Index for detached properties – calculated using the generally-accepted and transparent repeat sales or Case-Shiller method – fell 3.74% year-over-year, the February mid-month update shows. Here’s what […]

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