vanre
Featured
Realtor suggests avoiding taxes using bare trust loophole
A Vancouver realtor is suggesting buyers avoiding BC’s property transfer tax by exploiting the so-called bare trust loophole. “Save on the PTT by purchasing the shares of the numbered company that holds title as Bare Trustee,” reads the realtor comments section on the Multiple Listing Service (MLS) page for a triplex in Kitsilano. “Seller is […]
Read More
Featured
All Vancouver flippers flopped in May
All 11 detached house flips in and around Vancouver in May 2019 ended up with the flipper losing money, with all selling for double digit percentage losses. All flips in Vancouver, Richmond, Burnaby, West Vancouver, North Vancouver and New Westminster ended up with the seller getting less significantly less than what they paid for the […]
Read More
Featured
Metro Vancouver condo prices fall 9% from peak
Metro Vancouver condo prices have dropped by 9% from the March 2018 peak, and the “spring bump” promised by the industry is nowhere to be seen. The Open House House Price Index for condos – calculated using the generally-accepted and transparent repeat sales or Case-Shiller method – has fallen 6% year-over-year as of May 31, […]
Read More
Featured
Metro Vancouver realtor leaderboard: Luxury realtors no longer at the top
The rankings for Vancouver’s realtors by volume show that once high flying luxury realtors who were averaging up to five million dollars per sale are no longer at the top. The top position after the first five months of sales in 2019 is held by Maggi Thornhill who made more than $40 million selling 14 […]
Read More
Featured
Realtors reeling as Vancouver real estate frenzy ends
A comparison between figures for first five months of 2016 and 2019 show sales volumes and numbers down by nearly three-quarters (75%) for the top 100 realtors of 2016. For example, controversial realtor Sandra Li, initially with New Coast Realty and now with LeHomes Realty, sold 62 homes by end of May in 2016 fetching […]
Read More
Featured
City of Vancouver licences Chinese company to run multiple Airbnb flophouses
City of Vancouver has issued a local branch of a Chinese company to run at least three Airbnb flophouses in the city in clear violation of Vancouver short term rental bylaws that only permit individuals to offer listings in their primary residence. One of them is a brand new three-bedroom townhouse at 7827 Manitoba Street, […]
Read More
Featured
Metro Vancouver detached home prices plunge 26% from peak
Metro Vancouver detached home prices have dropped by 26% from the March 2018 peak and there are no signs that the market has bottomed out yet. The Open House House Price Index – calculated using the generally-accepted and transparent repeat sales or Case-Shiller method – has fallen 23% year-over-year as of today. Looking at home […]
Read More
Featured
Buyer beware: The curious case of the shrinking condo
When a presale assignment for condo unit 2609 of Westbank’s Vancouver House first appeared on the market in October 2015, the listing indicate the unit had an area of 900 square feet. The listing realtor Dexter Realty’s Kris Pope eventually managed to sell the unit for $880,000 fetching $977 per square foot. When the buyer […]
Read More
Featured
Westbank’s Vancouver House presale flippers hit by market downturn
Many investors hoping to flip presale units at Westbank’s Vancouver House condo project have failed in their attempts as other potential buyers flee the region’s falling housing market amid attempts by the province to crackdown on money laundering in real estate. Only three out of the 22 units that came on the market in the […]
Read More
Featured
Vancouver Market Update for May 14, 2019
Vancouver housing market slump continued unabated with 30 trailing days’ median change from assessment for detached houses plunging to 10.7% below 2019 assessed value. This marks a home price drop of 14.2% year-over-year and 1.73% month-over-month. 21 out of the 24 home sales recorded in the last seven days sold below assessed. Even recently built […]
Read More