Blog by Andrew Peck

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Depreciation reports now required for most stratas, March 20, 2014

March 20th, 2014

Depreciation reports now required for most stratas, March 20, 2014

A strata depreciation report is an important document which provides valuable information to strata owners, buyers, mortgage providers and insurers.
A strata depreciation report includes:
• an on-site inspection and inventory of the common property and building systems;
  • a schedule of anticipated maintenance, repair ...

What's not on the property title may be important

March 14th, 2014

What's not on the property title may be important

In West Vancouver in 2007, on the advice of her REALTOR®, a property seller checked to see if there was an underground fuel storage tank on her property.

There was and the seller had the tank removed and the contaminated soil remediated. The bill was $202,963.07.

The seller had bought the property in 2001 without using the services of ...

The Property Disclosure Statement - What You Need to Know

March 9th, 2014

The Property Disclosure Statement - What You Need to Know

When it comes time to sell your home, one way to protect yourself and potential buyers is to complete the Property Disclosure Statement (PDS).

It’s a detailed form that asks the property seller to disclose defects to prospective buyers. The PDS (and related forms: the Strata Property Disclosure Statement and the Rural Property Disclo ...

Will Renovating Speed Help You Sell or Will It Cost You More Than It’s Worth?

March 7th, 2014

Will Renovating Speed Help You Sell or Will It Cost You More Than It’s Worth?

You’re selling but you want to renovate first. How do you get the best return on your investment?

To get the best return on your investment, follow these guidelines:

1. Never out-renovate for your neighbourhood

Home prices are driven by location. If you live in a moderately priced neighbourhood that isn’t seeing ...

Construction Employment in Metro Vancouver

March 7th, 2014

Construction Employment in Metro Vancouver

Metro Vancouver’s employment slipped 0.3% to 99.8 thousand persons in February. Year-over-year employment dropped 7.8%.

It is early in the year and the regional economy is in a modest-to-moderate growth mode which is expected to firm in the second half of 2014.

...

Construction   Industry Employment – Vancouver CMA

(Thousands)

We’re REALTORS® and we add value, March 6, 2014

March 6th, 2014

REALTORS® face challenges these days - from online FSBO websites to high home prices - which in some parts of the country are making homes so unaffordable that buyers sit on the fence, waiting – for prices to drop or new government initiatives to be announced.

The solution? There’s always benefit in letting home buyers know how much we care about them.

Beyond our education, training, s ...

Building permits increase in Metro Vancouver

March 6th, 2014

Comparing January 2014 with January 2013, building permit values increased 20% to $592.0 million in January 2014 compared to $492.8 million in January 2013, according to data released this morning by Statistics Canada.

Non-residential Permits
Non-residential permits increased 3% to $128.8 million from $124.6 million one year ago.

  • Commercial permits rallied 85% higher than last year.
  • Insti ...

Wow! The MLS®

March 5th, 2014

Wow! The MLS®

If you’re buying or selling a home you’ve likely seen or heard the term multiple listing service or ‘MLS®.’ It’s one of the unique benefits a professional REALTOR® brings to a transaction.

The MLS® is a complex information-sharing network.

It was created by REALTORS several decades ago to help property buyers and sellers.

When I list your property for sale, I will complete a ...

Price Competition Among Home Buyers Heating Up In 2014

March 5th, 2014

More than one-in-three Canadians (34%) are willing to get into a bidding war to buy a home they want, according to the BMO Home Buying Report released today.

The report, conducted by Pollara, revealed:

  • in Vancouver 41% of home buyers will get into a bidding war
  • current homeowners say they visited an average of 9.5 homes before buying. While half (49%) were successful on their first bid, ...

Royal Pacific REALTORS® help make homes more affordable

February 19th, 2014

First-time home buyers received welcome news in the February 18, 2014 provincial budget.

Effective for registrations on or after February 19, 2014, qualifying first-time buyers can buy a home worth up to $475,000 and not pay the Property Transfer Tax (PTT) under the First-Time Home Buyers’ Exemption program.

The previous threshold was $425,000.  The partial exemption continues and will appl ...

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Is our housing market at risk?

May 31st, 2017
Is our housing market at risk? Today, the International Monetary Fund reported that Canadian households are highly indebted and housing affordability, particularly in Vancouver and Toron...Click here to read more detail about 'Is our housing market at risk?'

Moving towards a National Housing Strategy

May 1st, 2017
Moving towards a National Housing Strategy The Canadian Real Estate Association and its member real estate boards and associations across Canada have long advocated for better access to ...Click here to read more detail about 'Moving towards a National Housing Strategy'

What are the key challenges we face as a profession?

February 18th, 2016
What are the key challenges we face as a profession? If someone were to ask me what one characteristic Realtors® share, I'd say - adaptability.  Take a minute and think about i...Click here to read more detail about 'What are the key challenges we face as a profession?'

Will a luxury or speculation tax create more affordable housing?

February 2nd, 2016
Will a luxury or speculation tax create more affordable housing? In the last month, both the Mayor of Vancouver and economists from the University of British Columbia and Simon Fraser Un...Click here to read more detail about 'Will a luxury or speculation tax create more affordable housing?'