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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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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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Metro Vancouver detached house prices fall to lowest level since 2016

Metro Vancouver detached house prices fall to lowest level since 2016, marking a 20% drop from the March 2018 peak. The Open House Home Price Index for Metro Vancouver condos – calculated using the generally-accepted and transparent repeat sales or Case-Shiller method – fell 10% year-over-year, the August preliminary update shows. In the City of […]

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Metro Vancouver condo prices fall to lowest level since June 2017

Metro Vancouver condo prices fall to lowest level since June 2017 marking a 16% drop from the March 2018 peak. The Open House Home Price Index for Metro Vancouver condos – calculated using the generally-accepted and transparent repeat sales or Case-Shiller method – fell 8% year-over-year, the August preliminary update shows. Vancouver In the City […]

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Scores of Vancouver condo flips headed for a loss

Scores of Metro Vancouver condominium flips currently on the market are headed for a loss, including a “never lived in” unit at a Westbank tower, which was aggressively marketed offshore with a large chunk of the presales going to flippers. OpenHousing defines a flip as a property bought and sold within three years without rebuilding […]

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Dozens of Metro Vancouver house flips header for a loss

Dozens of Metro Vancouver house flips currently on the market are headed for a loss, with the sellers pricing the properties well below what they originally paid for them. OpenHousing defines a flip as a property bought and sold within three years without rebuilding or renovating substantially. A number of these are foreclosures or court-ordered […]

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