March, 2016 RSS Icon
Found 3 entries for March, 2016.

You’ve probably read in the press recently about some real estate agent’s that have been using the Assignment Option Clause, found in the Real Estate Council of British Columbia’s Professional Standards Manual, to engage in a practice which has come to be known as “shadow flipping”.

The original intention of the Assignment Option Clause was to provide buyers with an option to retain their deposit, and back away from a purchase, if for some reason their situational circumstances changed after their initial offer to purchase was submitted.

Prior to the closing date, the clause currently allows the transfer or resale of the property to another purchaser. And while this clause was also intended to protect sellers as well, ensuring that as long as

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With the continued acceleration of the BC real estate and housing market, one has to ask themselves, “Is this a good time to buy?” and “Should I buy a house in 2016?”

In the hot BC Vancouver real estate market houses for sale are currently selling daily for hundreds of thousands of dollars, and in rare cases millions, over the asking price. In some situations, these sales have been creatively engineered to elicit bidding wars. But there are so many properties selling above asking price that bidding wars are almost ‘the norm’ in this intensively stimulated market.

Rising prices are also prevalent in London, UK, as well, and as a result, families are purchasing homes farther and farther away from the epicentre because they simply can’t afford the

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February 2016 was a big month for real estate in the Fraser Valley.

Not only was it another record-setting month for sales (increase of 79% compared to February 2015) but there were also big changes to BC Property Transfer Tax on February 17.

Overall, home buyers are finding selection scarce and prices driven higher and higher by the intense demand. Here are some comments from Charles Wiebe, President of the Fraser Valley Real Estate Board:

“In my twenty-five years of real estate, I have never seen such consistent demand for housing in the Fraser Valley.

While it’s certainly encouraging to see such confidence in our region, the intense demand has created a more complex market for buyers. For certain property types, prices have increased and

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