Year: 2021

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Metro Vancouver detached market sees a shift as buyers drop out faster than sellers

Metro Vancouver single family detached home market appears to be heading towards a balanced market as the number of sales decreases faster than the number of listings. The sales to new listings (SNL) ratio for detached currently stands at 39, indicating a buyer’s market. But the shift in market sentiment still does not appear to […]

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Abbotsford Mayor sells property held through corporation after value shoots up 9-fold in one year

The Mayor of Abbotsford has sold a property in the city he held through a corporation after the assessed value of the property shot up nine-fold in a year due to a change of property use classification. HGE Investments Ltd. sold the property at 3044 Pratt Street on Jan 28, 2021 for $1.9 million after […]

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Metro Vancouver detached prices retreat from record highs

Metro Vancouver single family detached home prices retreated from record highs in June 2021, after seven months of continuous growth. The OpenHousing Home Price Index for detached properties – calculated using the generally-accepted and transparent repeat sales or Case-Shiller method – rose 10.41% year-over-year, the June month-end update shows. This represents a decrease of 1.80% […]

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Metro Vancouver detached prices to come off record highs

Metro Vancouver single family detached home prices are projected to come off all time highs in June 2021, after seven months of continuous growth. The OpenHousing Home Price Index for detached properties – calculated using the generally-accepted and transparent repeat sales or Case-Shiller method – is still expected to rise 11.05% year-over-year, the June mid-month […]

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Tribunal upholds $14,500 award for tenant wrongfully evicted to make way for Airbnb

The Supreme Court of British Columbia has dismissed a judicial review of a Residential Tenancy Branch (RTB) decision to award $14,500 to a tenant wrongfully evicted by the landlords who went onto list the rental unit on Airbnb. The landlords Robert Blouin and Leslie Ng had contested the decision by June 2020 decision by the […]

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Vancouver mansion linked to Bridging Finance self-dealing scandal flips for massive loss

A Vancouver mansion linked to the troubled Toronto-based private lender Bridging Finance Inc has been flipped for $800,000 less than what the seller paid for it six months ago. Property records show that the numbered company 1283942 B.C. LTD bought 1716 Drummond Drive in Vancouver’s tony Point Grey neighbourhood for $12.3 million in December 2020. […]

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Flipper makes $450K flipping Vancouver home through numbered company during pandemic

A flipper has made $450,000 dollars flipping a heritage home in East Vancouver’s Collingwood neighbourhood using a numbered company. 1298773 BC Ltd bought the 1914-built home at 2447 East 41st Avenue for $1,050,000 in April 2021, according to public records. Three days later, the numbered company listed the property for $1,499,000. The property sold on […]

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Metro Vancouver detached prices reach new all-time high in May

Metro Vancouver detached prices rallied in May 2021 to reach a new all-time high breaking the record set just a month earlier. The OpenHousing Home Price Index for detached properties – calculated using the generally-accepted and transparent repeat sales or Case-Shiller method – rose 15.40% year-over-year, the May preliminary month-end update shows. This represents an […]

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Flippers make $165K flipping downtown condo during pandemic with copy-and-paste listing

A pair of flippers in Vancouver have made a cool $165,000 flipping a downtown condo during the pandemic with a mostly copy-and-paste sales listing. Student Lola Pearl Quinn and technical recruiter XiuQi Wang bought the condo at 310-933 Seymour Street for $565,000 in October 2020, according to public records. A little over six months later, […]

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Vancouver realtor makes $420K flipping home during pandemic

A Vancouver realtor has made $420,000 flipping a heritage home in Vancouver’s Kitsilano neighbourhood. Keith Roy of RE/MAX Select Realty bought the heritage home at 1829 Stephens Street for $1,430,000 in April 2020, according to public records. Seven months later, Roy listed the property for $1,998,000, but failed to find a buyer. Roy re-listed the […]

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