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Featured
“Never lived in” – More Westbank empty homes hit the market
A pair of empty homes advertised as “never lived in” have gone on the market at two different condo projects belonging to controversial Vancouver developer Westbank. Unit 1809 at the 2016-completed Telus Garden located at 777 Richard Street building is listed for $1,488,000. Records show that seller originally paid $773,900 for the property in June […]
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33% off! Desperate developer dishes out deep discounts to clear unsold inventory
A controversial Vancouver developer has had to slash prices of his unsold inventory by as much as by a third after failing to attract buyers to his infill project which had been languishing on the market for nearly three years. Three out of the four units at architect and developer Michael Geller’s ‘Vinson House Cottages’ […]
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Metro Vancouver detached homes selling for as low as 45% below assessed
Metro Vancouver detached house price decline continues into September, with some homes selling for as low as 45% below assessed. The Open House Home Price Index for Metro Vancouver condos – calculated using the generally-accepted and transparent repeat sales or Case-Shiller method – fell 5% year-over-year, the September mid-month update shows. Looking at the sales […]
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Metro Vancouver condo market decline spreads to the lower end
Metro Vancouver condo prices continued their downward trajectory in the first half of September 2019 as the housing market decline spreads to the lower end of the market, with condos in Surrey selling for up to 35% below assessed. The Open House House Price Index for condos – calculated using the generally-accepted and transparent repeat […]
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Vancouver mortgage lenders having trouble locating borrowers to serve foreclosure papers
Metro Vancouver mortgage lenders are finding it difficult to locate their borrowers to serve foreclosure papers as default rates skyrocket. In one instance, the courts granted CIBC permission to email foreclosure papers to Xing Xiu Hua alias Xingxiu Hua after the lender alleged that the borrower “cannot be found after a diligent search and/or is […]
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Realtor Rankings: Realtor advertising tax avoidance leaps to top spot
A realtor advertising a loophole to avoid taxes has leapt to the top spot in Metro Vancouver realtor rankings, an analysis of sales volumes for the first eight months of 2019 show. Angell Hasman (E.Christiansen) Realtor Eric Christiansen jumped 24 places to clinch top spot with 21 sales totalling nearly $64 million at an average […]
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Subprime Mortgage lender forecloses on women who amassed Westside properties
A subprime mortgage lender who lent to a woman who bought multiple multi-million dollar Vancouver Westside properties is foreclosing on three of her homes. Reliable Mortgages Investment Corp has listed two Shaughnessy mansions and one Mount Pleasant duplex belonging to Xing Xiu Hua alias Xingxiu Hua as foreclosure sales. BC Supreme Court ordered the sale […]
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Big flop: How to lose $1.68 million within two years
A West Vancouver property has been flipped within 21 months for a staggering $1.68 million-dollar loss. The numbered company 1141975 B.C. LTD. bought 3560 Creery Avenue, West Vancouver for $8,480,000 on November 8, 2017. The owners put it back on the market on June 3, 2019, for $7,488,000 with Angell Hasman (E.Christiansen) Realtor Eric Christiansen […]
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Metro Vancouver detached home sale volume plummets 83% from peak
In the 30 days leading up to March 15, 2016, Metro Vancouver detached home sales volume averaged a staggering $159 million dollars a day. In the 30 days leading up to August 30, 2019, the figure had dropped to just $26 million –– an 83% plunge. This represents a year-over-year drop of 21% across the […]
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Incredible views meet tax avoidance opportunity at this West Vancouver property
A West Vancouver property is being advertised as offering both incredible views and an opportunity to avoid taxes using the bare trust loophole. “Incredible opportunity to purchase an incredible view lot in situated on a private cul-de-sac in an amazing location,” reads the listing for The bare lot at 5644A Westport Road in Eagle Harbour. […]
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