New Rule From the Real Estate Council of BC

The Real Estate Council of BC recently announced a new rule to be effective June 15, 2018.  The new rule (in a nutshell) prohibits Real Estate Agents to partake in "dual agency".   Dual Agency means the representation of both the Buyer and Seller in a real estate trade.  This [...]

2018-04-06T09:22:56+00:00 March 20th, 2018|Burnaby-Vancouver Real Estate News|

BC Government’s 30-Point Plan For A Fairer Housing Market

On Feb 20, 2018, the BC Government released its Budget Plan for 2018.  Making BC Housing more affordable was one of the goals addressed.  The following 7 points are taken directly from the "Government's 30-point Plan for a Fairer Housing Market": Taxing speculators who are driving up housing costs Increasing [...]

2018-04-06T09:06:21+00:00 February 28th, 2018|Burnaby-Vancouver Real Estate News, Uncategorized|

New Mortgage Rules Take Into Effect Jan 2018

Before only those with less than 20% downpayment had to undergo a mortgage “stress test”.  New rules will be implemented Jan 2018 for all borrowers for those with 20% downpayment or more. The “Stress Test” means that you need to qualify for either the five-year average posted rate (currently at [...]

2018-04-06T09:30:07+00:00 October 24th, 2017|Burnaby-Vancouver Real Estate News|