Adam Goss PREC : Blog : Latest Blog Posts

Open House. Open House on Sunday, February 22, 2026 2:00PM - 4:00PM

Wed, 18 Feb 2026 09:29:14 GMT

Please visit our Open House at 2 2635 12th Avenue W in Vancouver. See details here

Open House on Sunday, February 22, 2026 2:00PM - 4:00PM

Proudly built by Medallion Homes and designed by VictorEric- Georgie Award Winning, this north-facing back-unit Kitsilano duplex offers coastal luxury steps from Kits Beach, parks, cafés, and top Westside schools. With 3 bedrooms and 3.5 baths, the home blends smart design with premium finishes. The gourmet kitchen features Miele and Fulgor Milano appliances, custom cabinetry, and a layout ideal for daily living and entertaining. Enjoy seamless indoor-outdoor flow with multiple patios, including a private all-season patio with built-in BBQ, heaters. The top-floor bedroom provides a tranquil retreat with its own deck and spa-style ensuite. Full crawlspace storage and a detached garage with epoxy flooring add convenience to this exceptional residence.

New property listed in Kitsilano, Vancouver West

Wed, 18 Feb 2026 09:29:13 GMT

I have listed a new property at 2 2635 12th Avenue W in Vancouver. See details here

Open House. Open House on Saturday, February 21, 2026 2:00PM - 4:00PM

Wed, 18 Feb 2026 09:29:13 GMT

Please visit our Open House at 2 2635 12th Avenue W in Vancouver. See details here

Open House on Saturday, February 21, 2026 2:00PM - 4:00PM

New property listed in Kitsilano, Vancouver West

Wed, 18 Feb 2026 09:29:11 GMT

I have listed a new property at 1 2637 12th Avenue W in Vancouver. See details here

Proudly crafted by Medallion Homes and designed by VictorEric- Georgie Award winning, this south-facing Kitsilano front-unit duplex delivers refined coastal luxury just steps from Kits Beach, parks, cafés, and top Westside schools. Featuring 3 beds and 3.5 baths, it offers thoughtful design and premium finishes throughout. The gourmet kitchen includes Miele and Fulgor Milano appliances, custom cabinetry, and a sleek layout perfect for daily living and entertaining. Enjoy multiple walk-out patios, including a private chic Westcoast cedar patio with built-in BBQ, heaters, and a custom green wall. The top-floor bedroom is a serene retreat with a private deck and spa-inspired ensuite. Full crawlspace storage and a detached garage with epoxy flooring complete this exceptional home.

Open House. Open House on Saturday, February 21, 2026 2:00PM - 4:00PM

Wed, 18 Feb 2026 09:29:11 GMT

Please visit our Open House at 1 2637 12th Avenue W in Vancouver. See details here

Open House on Saturday, February 21, 2026 2:00PM - 4:00PM

Open House. Open House on Sunday, February 22, 2026 2:00PM - 4:00PM

Wed, 18 Feb 2026 09:29:11 GMT

Please visit our Open House at 1 2637 12th Avenue W in Vancouver. See details here

Open House on Sunday, February 22, 2026 2:00PM - 4:00PM

New property listed in College Park PM, Port Moody

Wed, 18 Feb 2026 09:29:09 GMT

I have listed a new property at 1031 Cecile Drive in Port Moody. See details here

Welcome to Cecile Heights in College Park! This rarely available end-unit is situated in the complex’s most desirable and quietest location. Boasting the largest layout in the development, this home offers the substantial proportions of a detached house with the added privacy of a corner position. The unique 3-level split design features a convenient entry level - ideal for busy families. Inside, enjoy expansive living areas, 3 oversized bedrooms up, and a full basement with a large flex room perfect for a 4th bedroom, gym, office, or play area. Very clean and well-maintained, this move-in ready home is a private sanctuary steps from transit and Seaview Elementary, and just minutes to the parks, Brewers Row, and Rocky Point Park. Secure the complex’s premier layout and location!

Bank of Canada Holds Rate at 2.25%: Stability for 2026?

Wed, 10 Dec 2025 23:26:28 GMT

On Wednesday, December 10, 2025, the Bank of Canada (BoC) announced it would maintain its key policy interest rate at 2.25%.

This decision was widely anticipated by analysts and marks the end of a consecutive easing cycle that saw rates drop four times in 2025. After months of cuts, the Bank has signaled a shift toward a "wait-and-see" approach, aiming to balance a surprisingly resilient Canadian economy against the structural uncertainties of global trade.

For homeowners, buyers, and investors in Metro Vancouver, this decision brings a welcome degree of predictability—but there are important nuances to understand regarding mortgage rates and the year ahead.

Key Highlights: The December Decision

Policy Rate: Held at 2.25%.
The Trend: This pauses the series of cuts we saw in September and October.
Next Announcement: Scheduled for January 28, 2026.

Why the Hold? The Bank’s Governing Council views the current rate as "about the right level" to keep inflation near its 2% target while supporting the economy through a period of structural adjustment. While inflation has moderated to 2.2% (as of October), "core" inflation remains sticky between 2.5% and 3.0%, preventing further immediate cuts.

Additionally, economic data has been stronger than expected:

GDP Growth: Q3 2025 posted a 2.6% annualized growth rate.
Unemployment: Dropped to 6.5% in November, showing three consecutive months of employment gains.

What This Means for You

While the "headline" rate is unchanged, the implications vary depending on your position in the market.

1. For Variable Rate Mortgage Holders

Status: Stable. With the overnight rate held, the Prime Lending Rate remains unchanged (roughly 4.45%). This means your monthly payments or interest portion will stay steady. Given the "sticky" nature of core inflation, further cuts to variable rates are unlikely in the very near term.

2. For Fixed Rate Mortgage Holders

Status: Upward Pressure? This is a critical distinction: Fixed mortgage rates are priced based on the bond market, not directly by the Bank of Canada. Following the robust jobs and GDP data, the Canadian 5-year bond yield has actually surged into the 3.0% range.

Insight: Markets are pricing in a stronger economy, which can exert upward pressure on fixed mortgage rates. If you are renewing soon, do not assume fixed rates will continue to drop just because the Bank of Canada is holding steady.

3. For Home Buyers

Status: A Window of Opportunity. The decision to hold rates reinforces a climate of predictability rather than urgency. We haven't seen the aggressive competition of years past, and this stability gives buyers the time to be thorough.

Experts suggest this remains a favorable window for first-time buyers. Prices in major centers have moderated, and with inventory levels generally healthy, you have the room to perform due diligence and negotiate effectively.
Affordability Note: While rates are lower than their peak, the Bank acknowledged that price levels for everyday goods have not dropped—they are simply rising more slowly. Affordability remains a challenge that requires careful budgeting.

Forward Outlook: The "Prolonged Pause"

Looking ahead to 2026, the consensus among major financial institutions (CIBC, TD, RBC, BMO) is that we are entering a period of stability.

The Base Case: The policy rate is expected to remain at 2.25% throughout most of 2026.
The Wild Card: The single biggest risk factor cited is the upcoming review of the Canada-United States-Mexico Agreement (CUSMA) in July 2026. Trade friction and tariffs create uncertainty that could swing the economy either way.

Governor Tiff Macklem emphasized that the economy is going through a "structural transition." The Bank is prepared to respond if conditions change materially, but for now, the path forward is one of patience.

Bottom Line

The era of rapid rate cuts appears to be over for now, replaced by a period of stability.

For Buyers: Use this stability to your advantage. You can make decisions based on your long-term needs rather than reacting to short-term volatility.
For Sellers: Serious buyers are active, but they are cost-conscious. Accurate pricing remains your most powerful tool to stand out.
For Everyone: Keep a close eye on your mortgage renewal dates. With bond yields fluctuating, the "lowest rate" strategy requires professional advice more than ever.

Thinking about your next move? Whether you are looking to enter the market, renew your mortgage, or sell your current home, staying organized with your finances is key. If you have questions about how these macro-economic shifts impact your specific neighborhood or property value, let’s connect.

📞 Contact us today for a chat about your real estate goals.

Open House. Open House on Sunday, October 19, 2025 2:00PM - 4:00PM

Thu, 16 Oct 2025 09:13:54 GMT

Please visit our Open House at 113 808 Sangster Place in New Westminster. See details here

Open House on Sunday, October 19, 2025 2:00PM - 4:00PM

Bright, private, and perfectly located - welcome to The Brockton! This move-in ready corner home features nearly 9-foot ceilings, laminate flooring, and stainless steel appliances. The ground-level setting offers quick street access and a 121 sq. ft. patio framed by greenery, creating a cozy and private space for morning coffee, BBQs, or time with your pup. The corner position enhances natural light and a sense of openness, while a same-floor storage locker and secure underground parking add everyday convenience. The well-managed building has refreshed hallways and common areas for a modern touch. Steps to Safeway, Starbucks, Queen’s Park, parks, transit, and New Westminster’s new Aquatic & Community Centre, this home offers the perfect blend of comfort, walkability, and community.

New property listed in The Heights NW, New Westminster

Thu, 09 Oct 2025 09:11:03 GMT

I have listed a new property at 113 808 Sangster Place in New Westminster. See details here

Welcome to The Brockton! This bright and private 1 bed corner home combines comfort and convenience with nearly 9-foot ceilings and a smart, open layout. Enjoy the ease of ground-level living with a spacious 121 sq. ft. patio—perfect for morning coffee, BBQs, or quick access to the street. Thoughtful updates include laminate flooring and stainless steel appliances. A same-floor storage locker and secure parking add everyday practicality. The well-managed, Whistler-inspired building has refreshed common areas and a welcoming community feel. Steps to Safeway, Starbucks, Queen’s Park, and New Westminster’s new Aquatic Centre, this is the perfect place for first-time buyers or downsizers seeking walkability and lifestyle.

Metro Vancouver Market Update – July 2025

Tue, 05 Aug 2025 19:07:00 GMT

Stability Returns, but Economic Headwinds Keep Recovery in Check

After months of uneven activity, Metro Vancouver’s real estate market showed signs of stabilization in July. Sales volumes edged higher from spring lows, prices remained broadly steady, and inventory hovered near multi-year highs — giving buyers more selection and leverage than they’ve had in some time.

While balanced conditions are welcome, the broader picture remains cautious. Persistent affordability challenges, weak economic growth, and lingering uncertainty around trade and employment continue to weigh on confidence. The market’s pace is steady, not surging.

1. Market Conditions – Stable, Not Surging

Metric (Greater Vancouver)	July 2025	Change (Y/Y)	Vs. 10-Year Avg.
Residential Sales	2,286	▼ 2.0%	▼ 13.9%
New Listings	5,642	▲ 0.8%	▲ 12.4%
Active Listings	17,168	▲ 19.8%	▲ 40.2%
Sales-to-Active Ratio	13.8%	Balanced Market	—
Benchmark Price (Composite)	$1,165,300	▼ 2.7% Y/Y	▼ 0.7% M/M

Inventory levels have stabilized near 17,000 listings — high enough to keep prices relatively flat and conditions balanced across most sub-markets. Detached homes sit in buyer’s territory (10.2%), while condos and townhomes hover mid-balance.

📍 Key Takeaway:
The market is measured, not distressed. Buyers have time to act strategically, while sellers must align expectations with current realities.

2. Property Type Breakdown – Balance Across the Board

Property Type	Benchmark Price	M/M Change	Y/Y Change	Sales (Units)	Market Condition
Detached	$1,974,400	▼ 1.0%	▼ 3.6%	660	Buyer’s Market (10.2%)
Townhome	$1,099,200	▼ 0.4%	▼ 2.3%	459	Balanced (16.7%)
Apartment	$743,700	▼ 0.6%	▼ 3.2%	1,158	Balanced (15.9%)

Detached activity remains subdued, with longer days on market and wider price gaps between buyer and seller expectations. Townhomes continue to show resilience, supported by demand from end-users seeking space and value. Condos remain price-sensitive but steady.

3. Regional Highlights – A Closer Look

Burnaby

Burnaby East: Detached benchmark $1,954,000 (+4.5% M/M, +0.5% Y/Y) — a rare uptick driven by limited listings.
Burnaby North: Townhomes rose slightly (+0.7%), while condos fell (-5%) year-over-year.
Burnaby South: Detached and condo prices slipped (~4%) annually; townhomes remain stable.

New Westminster

Composite benchmark $801,500 (+0.8% M/M, -2.4% Y/Y).
Apartment listings surged +41%, creating strong selection for buyers.
Townhomes saw more stable conditions, while detached sales dipped.

Tri-Cities

Coquitlam: Townhomes continue to outperform (+0.2% Y/Y) with benchmark $1,093,900.
Port Coquitlam: Detached and townhomes both stable; “Rindle” by Woodbridge Homes highlighted in pre-sale segment.
Port Moody: Detached homes soft, but townhomes (42% ratio) and condos show healthy demand.

Vancouver East & West

Area	Detached Benchmark	Y/Y Change	Market Condition
Vancouver East	$1,794,500	▼ 3.9%	Balanced–Buyer
Vancouver West	$3,311,800	▼ 5.6%	Buyer’s Market (7.9%)

The west side’s luxury detached market continues to favour buyers, while East Vancouver remains more active at attainable price points.

Other Notable Areas

North Vancouver: Detached -4.2%; condos holding near even.
Richmond: Listings up 30%+ across all segments; prices down 4–5%.
Squamish: Outlier strength — detached homes +11.2% Y/Y, benchmark $1.69M, seller’s market (31%).
Tsawwassen: Apartments saw one of the largest declines (-7.3% Y/Y).

4. Economic & Policy Backdrop – Calm Rates, Weak Growth

Bank of Canada Rate Hold: 2.75% (third consecutive).
GDP: Estimated -1.5% in Q2, following tariff-related export drops.
Unemployment: 7% — highest in nearly a decade (excl. pandemic).
Trade Uncertainty: U.S. negotiations and tariffs dampen business confidence.
DCC Policy Shift: Developers can now defer 75% of Development Cost Charges until occupancy — easing upfront costs and supporting future housing supply.

📉 Insight:
While rate stability offers predictability, soft GDP and job losses continue to suppress momentum. Buyers remain cost-conscious, and sellers are adapting to longer marketing timelines.

5. Pre-Sale Market – Subdued but Adapting

Pre-sale absorption remains far below historical norms, with only 7 new projects (≈600 units) launched in July.

Absorption Rate: 4% (vs. 27% seasonal average)
H1 2025 Units Sold: ~400 (85% below typical levels)
Product Shift: Developers focus on low-density, end-user-friendly projects.
Common Incentives: 10% deposits, value-add upgrades, and flexible completion schedules.

Example: Rindle by Woodbridge Homes in Port Coquitlam — boutique townhomes catering to families seeking new product without downtown premiums.

6. Fraser Valley Comparison

Metric (Fraser Valley)	July 2025	Change (Y/Y)
Sales	1,190	▼ 3%
Active Listings	75% above 10-yr avg	—
Sales-to-Active Ratio	11%	Buyer’s Market
Benchmark Price	$944,800	▼ 0.7% M/M

Conditions mirror Metro Vancouver: elevated inventory, flat pricing, and cautious buyers.

7. Takeaways – A Market Defined by Patience

For Buyers:

Wide selection, stable prices, and time to negotiate.
Focus on quality listings and avoid “fear of missing out.”

For Sellers:

Price accurately and present professionally — buyers have options.
Staged, well-marketed homes are still selling efficiently.

For Investors:

Prioritize fundamentals: location, rentability, and long-term positioning.
Short-term appreciation plays remain limited.

Bottom Line

July 2025 marks a steadying point for Metro Vancouver’s real estate market.
Sales are soft but stable, prices are adjusting gently, and balanced conditions dominate most regions. While a meaningful recovery isn’t yet underway, today’s environment rewards strategic, data-informed decisions over speculation or hesitation.

Thinking about your next move?
Let’s discuss your local market, your property’s position, and your best strategy moving forward. Whether you’re buying, selling, or investing, insight — not urgency — is the advantage in today’s market.

📞 Contact us today for a personalized market review.

Open House. Open House on Sunday, July 27, 2025 2:00PM - 4:00PM

Wed, 23 Jul 2025 09:07:32 GMT

Please visit our Open House at 113 808 Sangster Place in New Westminster. See details here

Open House on Sunday, July 27, 2025 2:00PM - 4:00PM

Welcome to The Brockton. This move-in ready 1 bed, 1 bath corner home offers 604 sq. ft. of well-designed living with near 9-foot ceilings, tasteful updates, and newer appliances. Enjoy a quiet and private ground-level patio—perfect for relaxing or letting your pup out for fresh air. Includes same-floor storage locker and secure underground parking stall. Located in a pet-friendly, well-maintained building steps to New Westminster’s new Aquatic & Community Centre, Royal Square Mall (Safeway, Starbucks, dining), Queens Park, schools, and transit. A smart opportunity for first-time buyers, downsizers, or anyone seeking comfort and connection in a walkable neighborhood.

I have sold a property at 304 1178 Hamilton Street in Vancouver

Thu, 17 Jul 2025 09:08:27 GMT

I have sold a property at 304 1178 Hamilton Street in Vancouver on Jul 9, 2025. See details here

Welcome to The Hamilton — a Yaletown icon in Vancouver’s historic warehouse district. Built in 1913 for the Gray Brothers Investment Firm and converted in 1996, this heritage conversion features exposed brick, reclaimed wide-plank fir floors, and 2-ft-thick Douglas fir beams. Formerly two suites, this rare corner home offers nearly 1,700 sqft of character-rich space, surrounded by large windows and two oversized gas fireplaces anchoring each large living space. Kitchen upgrades feature Sub-zero appliance package, gas range, lots of granite counter space and ample kitchen storage. Included is 1 secure underground parking stall and 2 storage lockers. Beautiful rooftop patio. Steps to world-class dining, boutique shops, the Seawall, SkyTrain, and vibrant Yaletown nightlife.Truly one-of-a-kind

New property listed in The Heights NW, New Westminster

Wed, 16 Jul 2025 09:07:48 GMT

I have listed a new property at 113 808 Sangster Place in New Westminster. See details here

Open House. Open House on Sunday, July 20, 2025 2:00PM - 4:00PM

Wed, 16 Jul 2025 09:07:48 GMT

Please visit our Open House at 113 808 Sangster Place in New Westminster. See details here

Open House on Sunday, July 20, 2025 2:00PM - 4:00PM

Just Listed Condo in New Westminster – Sleek Urban Living

Tue, 15 Jul 2025 22:19:51 GMT

Looking for your dream home? This Just Listed Condo in New Westminster offers a perfect blend of modern design and unbeatable location. With top-rated schools, vibrant parks, and easy access to transit and shopping, this unit sets new standards in stylish urban living.

Property Snapshot

Step inside this bright and airy apartment/condo (MLS® R3026972), located in the heart of New Westminster. Every detail reflects contemporary design, from open-concept living spaces bathed in natural light to carefully selected finishes. Imagine sipping your morning coffee on the balcony while enjoying sunset views over the city skyline.

Property Type: Apartment/Condo
MLS®: R3026972
Elementary Catchment: FW Howay Elementary
Secondary Catchment: Glenbrook Middle School
Sales-to-Active Ratio: 11.7% – a balanced, stable market

This home is ideal for families, professionals, or investors looking for lifestyle and value in one of Metro Vancouver’s most dynamic cities.

Why New Westminster? Neighborhood Highlights

Parks & Recreation

Enjoy easy access to some of New West’s most beloved outdoor spaces:

Queen’s Park – 75 acres of greenery, trails, sports courts, and playgrounds
Tipperary Park – Home to seasonal farmers’ markets, heritage gardens, and picnic spaces
Albert Crescent & Moody Parks – Ideal for casual strolls, dog walking, and relaxation

Schools & Education

Live in a catchment area known for community and quality education:

FW Howay Elementary – A welcoming neighborhood school just minutes away
Glenbrook Middle School – Recognized for strong academic programs and extracurriculars
Close proximity to New Westminster Secondary School (NWSS), which offers French immersion and IB programs

Shopping, Dining & Convenience

This listing is near top shopping hubs:

Shops at New West – Groceries, restaurants, and a movie theatre right by the SkyTrain
Royal City Centre – A central shopping destination with cafes, salons, and services
River Market at the Quay – Riverside dining and artisan vendors in a historic space

Transit & Connectivity

New Westminster is a commuter's dream:

5 SkyTrain Stations within the city
Fast, direct access to downtown Vancouver in under 30 minutes
Walkable streets and bike-friendly paths throughout the community

Market Insights: Why It’s a Smart Move

The sales-to-active ratio of 11.7% means buyers can move confidently, while sellers still enjoy strong returns. The market is steady and showing healthy demand.

Long-tail tip: How much does a condo in Burnaby cost? You’ll often find that condos in New Westminster offer comparable features at a more accessible price—making this area a smart choice for value-focused buyers.

Open House – July 20, 2025 | 2:00 PM – 4:00 PM

Come see it in person! This stunning New Westminster condo will be open for viewing on:

📅 Sunday, July 20, 2025
🕑 2:00 PM to 4:00 PM

Don’t miss the chance to walk through the space, explore the neighborhood, and ask questions live on site. Bring your family, your questions—and your checklist!

Metro Vancouver Real Estate Market Update – June 2025

Tue, 08 Jul 2025 22:27:35 GMT

After a rocky first half of 2025, the Metro Vancouver real estate market is showing early signs of stabilization — with sales activity leveling off, listing inventory reaching decade highs, and prices holding steady in many areas despite elevated supply. For buyers, sellers, and upsizers alike, this is a market that demands thoughtful strategy and local expertise.

Market Snapshot – June 2025

Sales: 2,181 homes sold in Metro Vancouver in June — down 9.8% year-over-year and 25.8% below the 10-year average.
New Listings: 6,315 new listings hit the market — up 10.3% year-over-year and 12.7% above the seasonal average.
Active Listings: Inventory rose to 17,561 properties, marking a 23.8% increase over last year and the highest June level in more than a decade.
Sales-to-Active Listings Ratio:
- Detached: 9.9% (buyers’ market)
- Townhouses: 16.9% (balanced)
- Apartments: 13.9% (balanced)
Benchmark Price (Composite): $1,173,100 — down 2.8% year-over-year, and 0.3% from May.

Segment Breakdown

Detached Homes: Sluggish Conditions Persist

Detached home sales remain muted. With just 657 sales in June and over 10 months of inventory, detached homes are firmly in a buyer’s market. The benchmark price sits at $1,994,500, down 3.2% year-over-year. High inventory is giving buyers ample negotiating room, especially in upper price bands.

Condos: Oversupplied and Competitive

Condo listings surged to a record high in June. While 1,040 units sold, that’s a 16.5% year-over-year drop, with absorption rates softening in price points over $900K. Benchmark condo prices sit at $748,400, down 3.2% annually and 1.2% month-over-month.

Townhomes: Holding Ground

Townhouses are the only segment to see a year-over-year increase in sales (+3.7%), with benchmark prices at $1,103,900 (down 3% YoY). Despite rising inventory, absorption is stronger here than in detached or condo segments — particularly in family-oriented neighborhoods with quality schools and transit.

Neighbourhood Bright Spots: Where the Market Is Moving

Despite slower overall conditions, several Metro Vancouver submarkets are showing encouraging signs — whether through stable pricing, increased sales activity, or outperforming inventory absorption.

Here are some of the most notable bright spots from the June 2025 data:

🔵 Burnaby North – Condos

Benchmark condo price: $724,900
Month-over-month change: +1.8%
This submarket posted the highest monthly price increase for condos among core Burnaby areas — a sign of buyer demand returning to well-located, transit-accessible homes under the $800K range.

🟢 Coquitlam – Townhomes

Benchmark townhouse price: $1,096,600
Year-over-year change: +1.1%
Coquitlam remains one of the few regions where townhome values are higher today than they were a year ago, supported by demand from young families seeking space and school catchments.

🟠 Squamish – Detached Homes

Benchmark price: $1,674,400
Year-over-year gain: +8.2%
Squamish continues to buck the regional trend, with rising demand from both lifestyle-driven buyers and long-term investors. It’s the strongest-performing detached submarket in Metro Vancouver year-over-year.

🔵 New Westminster – Entry-Level Condos

Units in the $450K–$650K range saw some of the highest absorption rates, with sales-to-active ratios between 20–30% — a clear indicator that affordable homes in connected urban hubs remain in demand.

🟡 Pitt Meadows – Townhouses

Benchmark townhouse price: $839,200
Year-over-year change: +0.6%
Though small in volume, this is one of the few areas with price growth in the townhouse segment, driven by limited supply and family-oriented demand.

Local Strategy Matters More Than Ever

The regional averages only tell part of the story. Real estate is always hyper-local, and the data shows that not all areas are moving the same. That’s why your strategy — whether pricing, marketing, or timing — must reflect not just your city, but your segment, your product type, and your street.

Smart Moves: Why Now Is a Strategic Time to Upsize

One of the clearest patterns we’re seeing across the market is that entry-level homes — relative to each submarket — continue to attract steady buyer demand.

What qualifies as “entry-level” varies by city:

In New Westminster, that could mean a condo in the $500K–$650K range.
In Burnaby, active townhouse segments are closer to $850K–$1.15M.
In Maple Ridge or Pitt Meadows, entry-level detached homes can be found around $1.25M–$1.4M.

But across the board, it’s consistent: entry-level price bands are where the action is, while listings above the median — particularly over $2M for detached and $1M for condos — are seeing far slower absorption.

This creates a rare opportunity:

If you’re selling in a stronger-performing entry-level segment and upsizing into a slower, higher-value one, you’re leveraging a unique trade-up advantage.

This is one of the best environments we’ve seen in years for upsizers — those moving from condo to townhouse, or townhouse to detached — especially if the purchase is long-term.

Pricing Strategy is Everything

In this kind of market, your pricing strategy can make or break the outcome.

We’ve seen time and again that properties priced correctly from the start attract the right buyers early — while those listed based on aspirational value sit and stagnate.

As agents, we don’t oversell or inflate expectations. We strive to educate our sellers and ensure every pricing recommendation is grounded in:

Real-time data
Current neighborhood trends
Buyer behavior and inventory levels

Your pricing strategy isn’t just a number — it’s the foundation of your marketing, your negotiation position, and your ultimate success.

Final Thoughts: Balanced Doesn’t Mean Boring

The June market is best described as a grind — balanced in many areas, slow in others, but not without opportunity. While interest rates and inflation continue to impact sentiment, affordability is marginally improving, and seasoned buyers are beginning to step in.

Sellers with entry-level homes in good condition are still achieving excellent results. Buyers looking to upgrade have negotiating power that didn’t exist two years ago. And above all, smart strategy — informed by data and local experience — is what will separate successful outcomes from missed opportunities.

Have Questions or Considering a Move?

Whether you're exploring a possible sale, wondering if now is the time to upsize, or just want to understand where your property fits into the current market — we’re here to help.

📩 Reach out for a personalized market evaluation or strategic consult.
Let’s make the market work for you.

Open House. Open House on Sunday, July 6, 2025 2:00PM - 4:00PM

Fri, 04 Jul 2025 09:07:45 GMT

Please visit our Open House at 304 1178 Hamilton Street in Vancouver. See details here

Open House on Sunday, July 6, 2025 2:00PM - 4:00PM

Update on Canada’s New GST Relief for First-Time Home Buyers (2025)

Sat, 28 Jun 2025 00:04:03 GMT

The Canadian federal government recently unveiled a new GST relief program designed to make buying a new home more accessible for first-time home buyers — and as of May 2025, the details have become much clearer.

If you’ve been following our updates, you may have already read our deep dive: Understanding Canada's New GST Rebate for First-Time Home Buyers. Now, we’re back with even more clarity — thanks to additional legal insights provided by our trusted lawyer.

Let’s break it all down.

📣 What’s New?

As of May 2025, the federal government announced full GST relief on the purchase of newly built homes (including pre-construction condos and townhomes) for qualifying first-time buyers. This incentive is part of a broader effort to boost housing affordability and stimulate supply by supporting middle-class Canadians entering the housing market.

🏷 Who Qualifies for the GST Rebate?

Here are the updated and clarified eligibility criteria:

✅ You must be a first-time home buyer.
✅ You must live in the home as your primary residence.
✅ The purchase price must be below $1.5 million.
✅ Applies to new builds only — resale homes are not eligible.
✅ This rebate is in addition to any provincial rebates or incentives already in place.

📌 Key Update: According to our legal sources, the rebate will not require income testing, but you’ll need to sign a declaration confirming you’re a first-time buyer.

🔍 What Types of Homes Are Covered?

Single-family homes
Condominiums
Townhouses
Duplexes or row houses

As long as they are newly built and not previously occupied, they qualify.

📜 Legal Clarifications You Should Know

Here are the top questions answered:

Q: Do I need to apply for the rebate separately?

A: No separate application is needed. The rebate should be automatically deducted from the purchase price during the conveyancing process — your lawyer or notary will handle the paperwork.

Q: What if I buy with a partner who isn’t a first-time buyer?

A: You may still qualify if you are a first-time buyer and the home will be your primary residence, but consult your conveyancer to ensure eligibility.

Q: Will this rebate show up in the contract?

A: Yes. Your contract will note whether the GST rebate is included in the purchase price or added on top. It’s important to clarify this with your developer or builder.

💡 How This Impacts You as a Buyer

This GST relief could save you up to $75,000 (5% of a $1.5M home) — a major cost reduction that could make the difference between affording your dream home or sitting on the sidelines.

If you’re planning to buy a pre-sale or new construction in BC or anywhere in Canada, this rebate is worth exploring further with your real estate team and legal advisor.

🗓 When Does This Take Effect?

The rebate is already in effect as of May 2025, and it applies to qualifying agreements signed on or after that date. If you’re in the market now, you may already be eligible!

📞 Have Questions? We’re Here to Help.

We stay ahead of the legal and market shifts so you don’t have to. Whether you’re a first-time buyer or helping a family member navigate the homeownership process, we’re ready to guide you.

👉 Contact us to find out how this rebate can apply to your next purchase — and let’s make your first home more affordable, together.

OPEN HOUSE for BRAND NEW DUPLEX HOMES in Vancouver – 65 E King Edward Avenue

Tue, 24 Jun 2025 01:50:53 GMT

Join us for an exclusive Open House at 65 E King Edward Avenue, where modern elegance meets unmatched walkability just steps from vibrant Main Street. These newly built duplex homes are nestled in a prime location with a Walk Score of 98, offering an ideal lifestyle for growing families or professionals who value comfort, quality, and convenience.

🗓 Open House Details:

📍 Address: 1 & 2 65 E King Edward Avenue, Vancouver
📅 Date: June 28, 2025
🕒 Time: 2PM to 4PM

✨ Property Highlights – Unit 1 & Unit 2

These thoughtfully designed homes include:

✅ Air Conditioning
✅ Engineered Hardwood Flooring
✅ Electric Radiant Heating + Heat Pump
✅ In-Suite Laundry
✅ Built-in Entertainment System
✅ Smart Google Nest Thermostats
✅ Security System & Built-in Speakers on Main Floor
✅ Fisher & Paykel Appliance Package
✅ Durable Rainscreen Exterior & Concrete Driveway
✅ Attached Single-Car Garage
✅ 1/2/5/10 Year New Home Warranty

🏠 UNIT 1 – COMPACT COMFORT

📐 1161 Sq. Ft. | 💰 Offered at $1,498,000
A beautifully laid-out 2-storey home, perfect for families looking for modern living in a manageable space.

Features Include:

South-Facing Covered Porch for all-season lounging
Cozy yet open Living Area with a Tucked-Away Dining Space
All 3 Bedrooms on the Upper Level for maximum privacy
Light-filled interiors with a breezy, open-concept design
Fully Fenced Yard – great for kids or pets

🏡 UNIT 2 – EXPANSIVE ELEGANCE

📐 1809 Sq. Ft. | 💰 Offered at $2,168,000
Perfect for those seeking more room to grow or entertain.

Features Include:

Spectacular Mountain Views from the upper floors
Rec Room with Wet Bar for movie nights or weekend entertaining
Direct Garage-to-Rec Room Access for added security & ease
Outdoor Built-In BBQ Kitchen ideal for summer grilling
Spacious open-concept layout flooded with natural light

📍 Location, Location, Location!

Steps from Main Street, you’re surrounded by:

🛍 Boutique Shops
🍽 Trendy Restaurants & Cafés
🚌 Easy Transit Access
🌳 Queen Elizabeth Park just minutes away

Situated within the catchment of General Wolfe Elementary and Eric Hamber Secondary, making this a dream family home in a top-tier school district.

📞 Ready to See It for Yourself?

Don’t miss your chance to experience these brand-new homes in one of Vancouver’s most vibrant communities.

📲 Contact us to schedule a showing or drop by our Open House.
These gems won’t last long!

Open House. Open House on Saturday, June 21, 2025 2:00PM - 4:00PM

Fri, 20 Jun 2025 09:07:09 GMT

Please visit our Open House at 304 1178 Hamilton Street in Vancouver. See details here

Open House on Saturday, June 21, 2025 2:00PM - 4:00PM

Just Sold! Ground-Level 1 Bedroom Home in the Heart of New Westminster

Fri, 20 Jun 2025 03:00:07 GMT

We’re excited to announce that this bright, ground-level 1-bedroom home at #121 – 18 Jack Mahony Place, New Westminster has officially SOLD!

With a sales-to-active ratio of 15.20%, the New Westminster real estate market is considered balanced—offering great opportunities for both buyers and sellers. Add to that this home’s unbeatable location near the New Westminster SkyTrain Station, and it’s clear why this listing was such a standout. The commute-friendly location and lifestyle-ready design made this an ideal find for its new owner.

🏡 Smart Design & Townhouse-Style Entry

This well-designed home offered a single-level floor plan with the added bonus of direct, private access—just like a townhouse! Perfect for first-time buyers, young professionals, pet lovers, or those looking to simplify without compromising on comfort.

🐾 Pet-Friendly & Community-Centered

One of the highlights? This property is in a pet-friendly building, offering peace of mind for owners with furry companions. It also belongs to a friendly, proactive strata community that values upkeep and neighborly connection.

🌳 Location Perks – Green Spaces & Essentials Nearby

The new owners will enjoy easy access to some of New West’s most beloved parks:

Queen’s Park
Tipperary Park
Hume Park

Whether it’s a morning dog walk or a weekend picnic, nature is always just a few steps away.

🛍️ Urban Convenience

From grocery runs to brunch meetups, everything is within reach:

Shops at New West
Royal City Centre
Holland Shopping Centre

And for commuters? The New Westminster SkyTrain Station makes downtown access a breeze.

🎓 Great for Families, Too

Families in the area benefit from strong educational options like:

École Herbert Spencer Elementary
New Westminster Secondary School

🏁 A Fresh Start for a Happy Buyer

We’re thrilled to see this home become the perfect match for its new owner. With thoughtful features, a stellar location, and lifestyle-enhancing surroundings, this was more than just a condo—it was an opportunity.

Congratulations to our clients on a successful sale!

💬 Thinking of making a move?

Whether you're just starting your homeownership journey or looking for a space that fits your lifestyle, homes like this one show that comfort, connection, and convenience really can come together.

If you're curious about what's possible, we’re here to talk—no pressure, just real conversations.

Property Secured in New Westminster: Penthouse Condo at 407–675 Park Crescent

Wed, 11 Jun 2025 21:05:00 GMT

We’re excited to announce that a stunning penthouse-level suite in New Westminster has just been secured at 407–675 Park Crescent in the highly coveted Winchester complex, located in GlenBrooke North. With a strong sales-to-active ratio of 15.20%, this transaction is a testament to the continued demand for quality condo living in this vibrant and walkable neighborhood.

The Winchester: Style, Comfort & Community

This beautifully renovated 2-bedroom, 2-bathroom corner unit offers 979 square feet of light-filled living space in one of the area's most sought-after, pet-friendly communities—The Winchester.

Interior Highlights

Modern Wide-Plank Laminate Flooring – Offers warmth and durability throughout the home
Expansive Windows – Brings in ample natural light from multiple exposures
Upgraded Kitchen – Featuring sleek white quartz countertops, stainless steel appliances (including a Fisher & Paykel fridge), apron sink, and two-tone shaker cabinetry
Spacious Primary Bedroom – Includes a huge walk-in closet and a private ensuite bathroom
Versatile Second Bedroom – Perfect as a guest room or home office
Private Patio – A tranquil outdoor escape ideal for relaxing with morning coffee

This quiet, well-managed building includes 2 secured parking stalls and 1 storage locker, and is just steps to parks, shopping, schools, and transit.

GlenBrooke North: A Top-Tier New Westminster Location

This suite’s location in GlenBrooke North places it in a prime walkable area with every convenience close at hand.

Local Amenities

Queen’s Park – A 75-acre green oasis featuring sports facilities, gardens, a playground, and a petting zoo
Canada Games Pool (Redevelopment in Progress) – Soon to be one of the region’s premier recreation centres
Royal Square Mall & Safeway – Easy access to groceries, health care, and day-to-day essentials
Shops at New West & River Market – Perfect for dining, entertainment, and weekend shopping, all SkyTrain-accessible

School Catchment: Top-Rated Public Schools

Families purchasing in GlenBrooke North enjoy access to some of the region’s best public schools:

Herbert Spencer Elementary – Known for academic excellence and French Immersion options
New Westminster Secondary – One of BC’s largest and most diverse high schools

Real Estate Snapshot: Condos in New Westminster

With a sales-to-active ratio of 15.20%, New Westminster continues to offer a healthy and competitive real estate environment. Stylish, upgraded condos like this one in The Winchester are rare finds, especially those with thoughtful renovations and top-tier walkability.

Looking to Buy in New Westminster? Let’s Help You Secure the Right Property

Dreaming of owning a home like this penthouse suite at The Winchester? Whether you're a first-time buyer, relocating, or upgrading your lifestyle, we’ll guide you through the process—from finding the perfect match to negotiating with confidence.

Let’s connect and secure the right property for your goals.

Open House. Open House on Sunday, June 15, 2025 12:00PM - 2:00PM

Tue, 10 Jun 2025 09:07:15 GMT

Please visit our Open House at 121 18 Jack Mahony Place in New Westminster. See details here

Open House on Sunday, June 15, 2025 12:00PM - 2:00PM

Welcome to The Westerly and this well-kept one-level, 1 bedroom corner townhome in Glenbrooke North, offering its own private entrance and rare direct access to your secure underground parking—ideal for convenience and daily ease. Set in a quiet, private location, the home features a spacious bedroom with walk-in closet, an open living and dining area with gas fireplace, and a large kitchen with room for island seating and ample cabinetry. Enjoy a covered front patio for relaxing, generous in-suite storage, and a separate locker. Located in a pet-friendly, well-managed complex steps to Queen’s Park, the new Temesewetx Aquatic and Community Center, Royal Square Shopping Center, and transit. A rare opportunity in one of New West’s most desirable communities.

Open House. Open House on Sunday, June 15, 2025 3:00PM - 5:00PM

Tue, 10 Jun 2025 09:07:15 GMT

Please visit our Open House at 304 1178 Hamilton Street in Vancouver. See details here

Open House on Sunday, June 15, 2025 3:00PM - 5:00PM

Newly Listed Downtown Vancouver Condo: Where Heritage Charm Meets Creative Urban Living

Tue, 10 Jun 2025 02:14:03 GMT

Step into the heart of downtown Vancouver with this extraordinary 2-bedroom, 2-bathroom heritage conversion condo at The Hamilton. Located on Hamilton Street in Yaletown, this residence is more than just a place to live—it’s a statement for professionals, creatives, and entrepreneurs who thrive at the intersection of style, history, and convenience.

🏡 Property Highlights

MLS® Number: R3013396
Property Type: Apartment/Condo
School Catchments:
- Elementary: Elsie Roy Elementary
- Secondary: King George Secondary School
Open House:
- Sunday, June 15th: 3:00 PM – 5:00 PM

Designed for the Downtown Professional or Creative Spirit

This space isn’t for everyone—and that’s precisely the point. It’s for the tastemakers, the architects, the designers, the boutique business owners who appreciate thoughtful details and crave a home as original as they are. The exposed brick walls and over-height ceilings don’t just echo the building’s storied past—they serve as an inspiring canvas for your lifestyle. Whether you’re closing deals by day or hosting a client wine tasting by night, this condo rises to the occasion.

Heritage Aesthetic Meets Modern Function

Enjoy the rare combination of vintage charm and contemporary upgrades. Original fir floors warm the space, while modern touches like quartz countertops, stainless steel appliances, and a sleek linear kitchen layout cater to your elevated urban tastes. The layout is open and efficient—ideal for entertaining, working from home, or simply enjoying a peaceful evening after exploring the city.

A Neighbourhood That Speaks Your Language

Live in the thick of it all—where historic Gastown, vibrant Chinatown, and the business district collide. Here, you’re steps away from Vancouver’s most innovative restaurants, indie coffee shops, creative studios, boutique gyms, and downtown’s best shopping. Need to catch the SkyTrain? Transit is practically at your doorstep, making commuting or jetting off to meetings effortless.

Tailored for the Lifestyle-Focused Buyer

This isn’t a home for those focused on school catchments or quiet suburbia. It’s for the couple who dines out on Tuesdays just because they can. It’s for the solo professional who hosts downtown art walks or plans their week around design expos. It’s for the dreamers who don’t just want a home—they want a vibe.

🌆 Embrace the Neighborhood Charm

Nestled in a community rich with amenities, this condo offers more than just a place to live—it provides a lifestyle.

Parks & Recreation

David Lam Park: A waterfront park featuring sports fields, a playground, and scenic views, perfect for family outings.
George Wainborn Park: Known for its serene atmosphere and beautiful landscaping, this park offers a peaceful retreat.
False Creek Seawall: Offers a variety of amenities including walking and biking paths with stunning waterfront views.

Shopping & Dining

Yaletown: A vibrant neighborhood known for its upscale boutiques, trendy restaurants, and lively nightlife.
Urban Fare: A gourmet grocery store offering a wide selection of organic and specialty foods.
Pacific Centre: A premier shopping destination featuring a variety of retail stores and dining options.

🏫 Top-Rated Educational Institutions

Elsie Roy Elementary: Located in the heart of Yaletown, this school emphasizes respect, responsibility, and relationships.
King George Secondary School: Offering a wide range of academic and extracurricular programs.

🚆 Seamless Connectivity

With a sales-to-active ratio of 13.80%, the Vancouver real estate market is balanced, offering opportunities for both buyers and sellers. The property's proximity to the Yaletown-Roundhouse SkyTrain Station ensures easy access to downtown Vancouver and surrounding areas, making daily commutes effortless.

📞 Ready to see it for yourself?

This is downtown living redefined—and it won’t stay listed for long. Book your private showing today and discover why this isn't just a condo, it's your next chapter.

Just Listed: Ground-Level 1-Bedroom Condo in New Westminster — Stylish, Smart, and Exceptionally Convenient!

Tue, 10 Jun 2025 02:03:25 GMT

Welcome to modern living in the heart of New Westminster! This beautifully maintained 1-bedroom ground-level condo offers the perfect blend of lifestyle, comfort, and location — all at an affordable price point that opens the door for first-time buyers, young professionals, pet owners, and downsizers looking for easy access and everyday convenience.

🏡 Property Highlights

MLS® Number: R3013276
Property Type: Apartment/Condo
School Catchments:
- Elementary: École Herbert Spencer Elementary
- Secondary: New Westminster Secondary School
Open House:
- Saturday, June 14th: 2:00 PM – 4:00 PM
- Sunday, June 15th: 12:00 PM – 2:00 PM

🏡 A Thoughtful Layout for Comfortable Living

With no stairs and a single-level floor plan, this home is designed with accessibility and ease of movement in mind — a significant plus for seniors or anyone looking to avoid the hassle of stairs. The direct, townhouse-style access to parking means you can come and go with ease, whether you’re unloading groceries, walking your dog, or heading out for the day. No elevators. No delays.

🐾 Pet-Friendly & Park-Adjacent

If you’re a pet lover, you’ll appreciate the convenient ground-level entry that makes daily walks a breeze. Being close to parks and green spaces means your furry friend will enjoy the new home just as much as you will.

💡 Ideal for First-Time Buyers & Young Couples

Priced competitively, this condo represents an excellent entry point into the housing market. Whether you’re a young couple starting out or a single buyer looking for a smart investment, this unit offers great value in a vibrant, walkable community with plenty of shops, cafes, and transit options nearby.

🧘 Perfect for a Low-Maintenance Lifestyle

This is not a sprawling family home — and that’s exactly the point. It’s a smart, stylish space that meets your needs without unnecessary upkeep. Ideal for those who prioritize location, simplicity, and comfort.

🌳 Embrace the Neighborhood Charm

Nestled in a community rich with amenities, this condo offers more than just a place to live—it provides a lifestyle.

Parks & Recreation

Queen’s Park: A 75-acre flagship park featuring sports fields, a spray park, and a petting farm, perfect for family outings.
Tipperary Park: Known for its serene Friendship Gardens, this park offers a peaceful retreat with beautiful water features.
Hume Park: Offers a variety of amenities including an outdoor pool, playgrounds, and access to the Brunette-Fraser trail.

Shopping & Dining

Shops at New West: Integrated with the New Westminster SkyTrain Station, this shopping center offers a mix of retail stores, restaurants, and entertainment options.
Royal City Centre: Home to over 50 stores, including major retailers and local boutiques, catering to all your shopping needs.
Holland Shopping Centre: A unique destination offering Dutch specialties and a variety of European goods.

🏫 Top-Rated Educational Institutions

École Herbert Spencer Elementary: Located in the historic Queen’s Park neighborhood, this dual-track English and French Immersion school emphasizes respect, responsibility, and relationships.
New Westminster Secondary School: One of the largest secondary schools in the province, offering a wide range of academic and extracurricular

🚆 Seamless Connectivity

With a sales-to-active ratio of 15.20%, the New Westminster real estate market is balanced, offering opportunities for both buyers and sellers. The property's proximity to the New Westminster SkyTrain Station ensures easy access to downtown Vancouver and surrounding areas, making daily commutes effortless.

📞 Ready to Make a Move?

Don't miss the opportunity to own this exceptional condo in New Westminster. Join us at the open house or contact us to schedule a private viewing.

Thinking of selling? See how we can help you achieve top results.

Bank of Canada Holds Interest Rate at 2.75% Amid Trade Uncertainty and Mixed Economic Signals

Sat, 07 Jun 2025 01:39:03 GMT

On June 4, 2025, the Bank of Canada (BoC) announced it would maintain its key policy interest rate at 2.75%, citing persistent economic uncertainty—particularly around international trade dynamics and evolving domestic indicators. The next interest rate decision is scheduled for July 30, 2025.

This marks the second consecutive rate hold by the BoC, following a series of cuts that concluded in March. As the economy shows signs of both resilience and vulnerability, the central bank has signaled a wait-and-see approach, with a continued focus on inflation trends, employment data, and global economic developments.

Policy Overview: June 2025 Rate Decision

The BoC confirmed the following in its June 4 announcement:

Key overnight lending rate: Held at 2.75%
Bank Rate: Held at 3.00%
Deposit rate: Unchanged at 2.70%

The previous rate cut occurred on March 12, 2025, when the bank lowered the benchmark rate by 25 basis points. The BoC has since paused further reductions to assess the broader effects of earlier policy moves and incoming economic data.

Drivers of the Decision: Global Trade and Domestic Conditions

The central bank highlighted several areas of concern influencing its decision to hold:

Global Trade Environment

Ongoing trade policy developments—especially those involving the United States—remain a significant source of uncertainty. On June 3, 2025, a new U.S. executive order increased tariffs on Canadian steel and aluminum to 50%. While some global tariffs have been eased in bilateral negotiations, many remain above early-2025 levels, and further actions are possible.

These developments have implications for Canadian exports, supply chains, and price levels. BoC Governor Tiff Macklem noted that such tariffs can exert downward pressure on growth while also creating cost-side inflation risks, depending on how businesses respond.

Domestic Economic Performance

GDP: Canada’s economy grew 2.2% in Q1 2025, slightly above expectations. However, the BoC anticipates a weaker second quarter, with forthcoming GDP data expected to clarify the pace of growth.
Labour Market: Employment indicators have softened. The unemployment rate has risen to 6.9%, with job losses concentrated in trade-exposed sectors.
Housing Market: Housing activity has declined, particularly in the resale market. May 2025 sales in the Greater Toronto Area dropped 13% year-over-year, according to the Toronto Regional Real Estate Board. National sales were down 10% in April.
Consumption: Consumer spending has moderated from its Q4 2024 pace but continues to grow. Consumer confidence, however, has weakened.
Inflation: Headline inflation for April came in at 2.3% (excluding tax impacts), slightly above the bank’s expectations. The removal of the consumer carbon tax contributed to a broader cooling, but core inflation measures (excluding food and energy) increased more than anticipated. These figures will be closely monitored in the coming CPI reports, with the May data due on June 24.

Impacts on Borrowers, Consumers, and Businesses

Mortgage Market

For Canadians with variable-rate mortgages, this decision means no immediate change in borrowing costs. Many are still opting for variable rates, anticipating the possibility of further rate cuts later in the year. Fixed mortgage rates have not adjusted as quickly and remain relatively stable.

Industry experts advise that while today’s rates are low by historical standards, borrowers—especially those up for renewal—should assess their options carefully. Lenders remain competitive, and shopping around may yield better terms. However, some caution that waiting for significantly lower rates may not be the most practical approach given market unpredictability.

Consumer Spending and Pricing

While household spending continues, concerns about higher prices tied to new tariffs are mounting. Businesses affected by import costs may adjust prices, which could pass on to consumers in the form of higher costs for goods and services. Households are also reporting concerns around affordability and purchasing decisions under the current economic climate.

Business Conditions

Lower interest rates can ease borrowing costs, which helps with cash flow and investment planning. However, small and medium-sized businesses continue to face pressure from higher operating expenses. A significant portion are absorbing increased costs into already tight profit margins.

Tariff-related supply chain adjustments, renegotiated contracts, and evolving import/export conditions remain major challenges, especially for manufacturers and retailers managing cross-border logistics.

Auto dealers, in particular, report elevated inventory levels compared to last year, making the cost of financing stock more burdensome under current interest rates. In this environment, many business leaders express a preference for stable trade relations over further rate reductions.

What Comes Next

Between now and the July 30 rate decision, the BoC will review two more inflation (CPI) reports and labour force surveys, as well as updated GDP data. These indicators will help shape the Governing Council’s view on whether another rate cut is warranted.

Economists at institutions such as BMO and CIBC suggest a rate reduction remains a possibility, especially if data shows continued economic cooling and if inflationary pressures ease. A potential 25-basis-point cut could be considered should those conditions be met.

Additional Considerations: Employment Rights

As economic conditions fluctuate, it’s important for Canadian workers—particularly those in non-unionized roles—to be aware of their rights in the event of job loss. Employees in British Columbia, Alberta, and Ontario may be entitled to up to 24 months of severance pay when terminated without cause. Even in cases where dismissal is labeled “for cause,” many employees may still qualify for full compensation under Canadian employment law.

For guidance on severance packages, layoffs, or workplace issues, legal consultation is available from firms specializing in employment law. Note that unionized employees must work through their union representatives, as employment lawyers cannot intervene in those cases.

Conclusion

The Bank of Canada’s decision to hold the policy rate at 2.75% reflects a complex mix of domestic and international factors. For consumers and businesses, the implications vary by financial situation, sector, and exposure to trade. As always, understanding how monetary policy intersects with personal or business planning is key to making informed decisions in a changing economic environment.

If you have questions about how rate policy may affect your real estate goals or financial planning, we’re here to help navigate the facts with clarity and care.

Curious how shifting rates and trade policies could affect your real estate plans? We’re keeping a close eye on developments like these to help our clients stay ahead—reach out anytime to talk strategy.

Metro Vancouver Real Estate Market Update – June 2025

Tue, 03 Jun 2025 22:29:45 GMT

“Expectations vs. Reality: Finding Opportunity in a Complex Market”

As we move into summer, the Metro Vancouver real estate market is in a place many didn’t anticipate—and for others, it’s exactly what they expected. While earlier forecasts hoped for a spring revival powered by lower interest rates and pent-up demand, the reality unfolding is a more complicated, nuanced market—one shaped by rising inventory, cautious buyers, and shifting investor sentiment.

But before we jump to conclusions, let’s look at the facts—and then the story behind them.

📊 May 2025 Market Snapshot

According to the Real Estate Board of Greater Vancouver (REBGV), May brought:

2,228 sales, down 18.5% year-over-year and 30.5% below the 10-year average
17,094 active listings, a 10-year high and 45.9% above the 10-year average
Sales-to-active listings ratio:
- Detached: 10.2%
- Townhomes: 17.4%
- Apartments: 14.7%
- Overall: 13.4% → Balanced, but leaning toward a buyer's market

📉 Prices nudged down again:

Composite benchmark: $1,177,100 (↓ 0.6% MoM | ↓ 2.9% YoY)
Detached: $1,997,400 (↓ 1.2% MoM)
Townhomes: $1,106,800 (↑ 0.4% MoM)
Apartments: $757,300 (↓ 0.7% MoM)

👉 The Townhome segment was the only one to see month-over-month price growth—likely tied to relative affordability and family demand

🧭 So, What’s Really Going On?

This isn’t a crash. It’s not a boom. It’s a transition—a marketplace that’s adjusting under pressure from macro forces and consumer caution.

Many came into spring expecting that falling interest rates and slightly improved affordability would bring momentum. And yes, rates have come down: the Bank of Canada has lowered its policy rate to 2.75%, with bond yields and fixed mortgage rates falling accordingly

But rate cuts haven’t yet translated into activity. Why? Because buyers aren’t just watching rates—they’re watching prices, policy, global headlines, and each other.

And in a market where listings are abundant and showings are light, many are choosing to wait.

🏘️ Inventory Is Building, and That Matters

May marked the highest number of active listings since 2014. Inventory is up 30% year-over-year across the region, and more significantly:

Condos: +76% above the 10-year average
Townhomes: +72%
Detached: +36%

That’s opportunity—for some—and pressure for others.

While this dynamic puts pricing power in buyers’ hands, it also demands sharper strategy from sellers. In this kind of market, price, presentation, and positioning matter more than ever.

🏙️ Market Conditions Vary by Area

What we’re seeing in Burnaby isn’t what we’re seeing in Port Moody or Vancouver West. A few highlights:

🔹 Burnaby

Benchmark prices fell across all three sub-areas, with Burnaby East down 3.1% month-over-month
Burnaby North Detached held up better, still showing above-average absorption

🔹 New Westminster

Detached benchmark: $1.52M (↓ 4.5% MoM)
Townhomes and condos: largely flat, but inventory remains high

🔹 Tri-Cities

Port Moody condos bucked the trend with a 1.6% MoM price gain
Coquitlam and Port Coquitlam show signs of stabilization in the townhome segment

🔹 Vancouver East & West

Most property types saw modest month-over-month declines across the board

This is what we mean when we say one headline can’t tell the whole story. Smart decisions today require hyperlocal knowledge.

💼 The Investor Pullback and Mortgage Pressure

There’s no question that the investor appetite has cooled—especially in the pre-sale market. High costs, weaker rental returns, and regulatory shifts have many sidelined or exiting. Meanwhile, we’re entering a wave of mortgage renewals:

Roughly 1.7 million mortgages will reset in 2025 alone
Most borrowers will face significantly higher monthly paymentsrennielandscape_Spring2…

So yes, some listings are from investors or owners opting out before renewal pain sets in. And that adds to supply, further empowering today’s buyers.

🌍 What About Policy, Politics, and the Big Picture?

Several major developments are influencing market psychology:

Federal election outcome: A minority Liberal government is in place; housing policy adjustments are expected but uncertain.
Population shifts: For the first time, Canada is expected to experience net population decline due to reduced immigration targets and a drop in non-permanent residents—especially impactful in major metros like Vancouver
New buyer incentives: Programs like BC’s Attainable Housing Initiative and expanded 30-year amortizations may help some first-time buyers but won’t change the market

🧠 What You Should Know as a Buyer, Seller, or Owner

🛍️ Buyers:

This is the most buyer-favourable market we’ve seen in years. You have time, choice, and negotiating power. But don’t confuse a quiet market with a bad one—opportunity often lives in the silence.

🏠 Sellers:

Pricing is strategic, not emotional. Buyers are discerning, and showings are down. A well-prepped, properly priced home will still sell—but patience and precision are key.

💼 Investors:

The landscape has shifted. Resale may now offer better value than new construction. If your goals are long-term and yield-focused, the right property at the right price may still work—but speculation is out, fundamentals are in.

🎯 Final Thought: There’s No One “Market”

There’s the detached market. The condo market. The Burnaby market. The first-time buyer market. The investor market.

Each is behaving differently.

Our job—always—is to help you understand which one you’re in, what’s happening within it, and how to make the best move forward.

📞 Ready to Talk?

Whether you’re exploring your options or ready to act, let’s connect. Every market brings opportunity—it just takes the right strategy.

Understanding Canada’s New GST Rebate for First-Time Home Buyers: What It Means and Who It Helps

Wed, 28 May 2025 01:40:49 GMT

New federal policy offers full GST relief on new homes up to $1M and partial rebates up to $1.5M for eligible first-time buyers.

On May 27, 2025, the Government of Canada introduced a new Goods and Services Tax (GST) relief measure aimed at first-time home buyers purchasing newly built homes. Known as the First-Time Home Buyers’ GST Rebate (FTHB GST Rebate), this initiative is part of broader efforts to improve housing affordability and stimulate new home construction across the country.

This rebate applies specifically to eligible individuals purchasing or building a new primary residence and is designed to reduce the upfront tax burden associated with buying a newly constructed home. The policy builds on existing housing rebate programs and introduces updated thresholds that better reflect today’s real estate market conditions.

Overview of the FTHB GST Rebate

The FTHB GST Rebate provides targeted GST relief on new homes purchased by first-time buyers:

Homes valued up to $1 million: Eligible buyers may receive a 100% rebate of the GST paid, equivalent to a maximum of $50,000.
Homes valued between $1 million and $1.5 million: The rebate is gradually reduced on a sliding scale, phasing out completely at the $1.5 million mark.
Homes at or above $1.5 million: No rebate is available.

The measure is intended to ease the financial strain for Canadians entering the housing market for the first time and encourage the development of new residential units by supporting demand.

This new rebate works alongside the existing GST/HST New Housing Rebate, and both may be available to qualifying buyers, depending on their province and circumstances.

Eligibility Criteria: Who Qualifies as a First-Time Home Buyer?

To access the FTHB GST Rebate, an individual must meet the following key conditions:

Be at least 18 years old;
Be a Canadian citizen or permanent resident;
Not have owned a home (or lived in a home owned by a spouse or common-law partner) in the calendar year of the purchase or any of the four preceding calendar years.

In addition, the property must be:

Acquired or built for use as the buyer’s primary place of residence, and
The first occupancy of the home must be by the eligible first-time buyer.

Only one individual in a purchasing group must meet the first-time home buyer definition to qualify for the rebate, but that individual must be the one who will live in the home.

Buyers who previously claimed the rebate (or whose spouse or partner has) are not eligible to claim it again.

What Types of Properties Are Covered?

The FTHB GST Rebate applies to the same types of properties eligible under the existing New Housing Rebate, with adjustments made to focus on first-time buyers. Qualifying housing types include:

Newly constructed homes purchased from builders;
Owner-built homes, where the buyer constructs a new home on owned or leased land;
Co-op housing shares, provided the cooperative paid GST on the new unit.

The rebate is not available for:

Co-op housing that qualifies for the separate 100% GST rebate for purpose-built rental housing;
Assignment sales where the original agreement of purchase and sale was signed before May 27, 2025.

To qualify, construction must begin before 2031, and the home must be substantially completed before 2036. The purchase agreement must also be signed on or after May 27, 2025, and before 2031.

Rebate Structure Based on Purchase Price

The rebate amount is determined based on the value of the home:

$1 million or less: Eligible for the full rebate of the GST paid, potentially up to $50,000.
Between $1 million and $1.5 million: Rebate is phased out proportionally.
- For example, a $1.25 million home may be eligible for a rebate equal to approximately 50% of the GST.
$1.5 million or more: No rebate is available.

This structure reflects the government’s intent to balance affordability assistance with fiscal prudence by targeting relief where it is most needed.

Policy Context and Legislative Details

This initiative was introduced through proposed amendments to the Excise Tax Act, tabled by the Minister of Finance and National Revenue on May 27, 2025. While the government had previously indicated a retroactive effective date of March 20, 2025 in its party platform, the current legislative proposal sets the eligibility window beginning from May 27, 2025.

The rebate is projected to deliver approximately $3.9 billion in tax savings over five years, beginning in the 2025–2026 fiscal year.

Comparison to Previous Policy

This new measure represents a significant update to prior housing rebate rules:

Previous policy capped eligibility at homes under $450,000, with a maximum GST rebate of around $6,300—a figure unchanged since the early 1990s.
The 2025 update raises the rebate threshold to $1 million, introduces a phased-out rebate for homes up to $1.5 million, and increases the maximum possible rebate amount to $50,000.

The revised policy is more reflective of current housing market prices in major urban centers and seeks to offer more practical support to prospective first-time home buyers.

Complementary Housing Measures

The FTHB GST Rebate forms part of a broader set of federal housing initiatives announced in recent years, including:

An increase to the insured mortgage cap from $1 million to $1.5 million (effective December 2024);
Changes allowing longer amortization periods for first-time buyers;
Enhancements to the Home Buyers’ Plan (HBP) and the Tax-Free First Home Savings Account (FHSA).

Together, these policies aim to address multiple barriers facing Canadians in accessing homeownership, from upfront costs to financing options.

In Summary

The First-Time Home Buyers’ GST Rebate is a newly introduced federal policy providing meaningful tax relief for eligible first-time purchasers of new homes in Canada. By updating eligibility thresholds and increasing the maximum rebate amount, the policy reflects the economic realities of today’s housing market while supporting the development of new housing supply.

As with any government program, individual circumstances may affect eligibility or the value of the rebate received. Those considering a new home purchase are encouraged to consult with qualified professionals to understand how this rebate may apply to their specific situation.

Curious how the FTHB GST Rebate could impact your buying journey or home sale strategy? We’re closely tracking how this policy unfolds in local markets. Reach out if you’d like tailored insight based on your goals.

Open House for Single-Family House in Burnaby South | 7778 Nursery Street

Fri, 23 May 2025 02:15:02 GMT

Experience luxury living in the heart of Burnaby South. This Open House in Burnaby South showcases a meticulously crafted single-family residence at 7778 Nursery Street. With panoramic mountain views, expansive interiors, and proximity to top-tier amenities, this home offers an unparalleled lifestyle.

✨ Property Highlights

This custom-built home spans 4,602 sq. ft. and features 9 bedrooms and 8 bathrooms, making it ideal for large families or those seeking additional rental income. Recent updates include new flooring, fresh paint, and modern light fixtures. The property also offers approximately $5,000 monthly rental income from its suites.

Lot Size: 9,612 sq. ft.
Year Built: 2008
Garage: Triple-car garage with additional open parking
Heating: Natural gas with radiant heat
Fireplace: Yes
MLS® Number: R2983912

🗓️ Open House Details

When: May 25, 2025 | 2PM to 4PM
Where: 7778 Nursery Street, Burnaby, BC V5E 2B4

Don't miss the opportunity to explore this exquisite property in person!

🏘️ Living in Burnaby Lake Neighborhood

The Burnaby Lake neighborhood offers a serene environment with easy access to urban conveniences.

🌳 Parks & Recreation

Deer Lake Park: Ideal for nature walks and cultural events.
Burnaby Lake Regional Park: Offers trails, wildlife viewing, and rowing activities.
Burnaby Lake Sports Complex: Features ice rinks, soccer fields, and more.

🏫 School Catchments

Elementary: Buckingham Elementary
Secondary: Burnaby Central Secondary

These schools are known for their strong academic programs and community involvement.

🛍️ Shopping & Dining

Metropolis at Metrotown: One of BC’s largest shopping centers.
Crystal Mall: Offers a variety of Asian cuisine and shops.
Highgate Village: Features grocery stores, cafes, and more.

🚇 Transit & Commuting

Proximity to Edmonds and Royal Oak SkyTrain stations ensures convenient commuting options.

📈 Market Insights: Is Now the Right Time to Buy?

With a sales-to-active ratio of 9.80% in Burnaby South, the market is balanced, offering opportunities for buyers. If you're considering a purchase, now is an opportune time to invest in a single-family home in this desirable area.

💬 Thinking of Buying? Let’s Talk.

Looking for guidance or planning your next move in Burnaby real estate?

Call me today and see how we can help you achieve top results.

Open House Condo in Burnaby South – Discover Modern Living Near Top Schools and Urban Amenities

Fri, 16 May 2025 22:49:10 GMT

Are you searching for your next home in the vibrant heart of Burnaby? Step into this beautifully maintained condominium — located in one of Burnaby South's most sought-after neighborhoods. Whether you're a first-time buyer, investor, or planning a smart move into a growing area, this property offers an ideal blend of comfort, convenience, and community.

📍 Welcome to Burnaby South: Where Lifestyle Meets Location

This Open House in Burnaby South places you in the dynamic Metrotown area, known for its family-friendly environment and excellent connectivity. With April 2025’s sales-to-active ratio at 14.70%, the local market is balanced — signaling strong interest and stability for both buyers and sellers.

🏫 Top-Rated Schools in Your Catchment

Families will appreciate access to two of Burnaby's best public schools:

Marlborough Elementary School: Renowned for its dual-track English and French Immersion programs.
Moscrop Secondary School: A high-ranking academic institution with strong STEM and extracurricular offerings.

These schools not only enhance quality of life but also add long-term value to your property investment.

🏞️ Green Spaces and Recreation Just Steps Away

Live near nature while staying connected to city life. This condo is minutes from:

Central Park: 90 hectares of forested walking trails, sports facilities, and a pitch-and-putt golf course.
Bonsor Recreation Complex: Offers fitness classes, a swimming pool, and community activities for all ages.
Deer Lake Park: Great for weekend hikes, kayaking, and summer concerts at the Shadbolt Centre for the Arts.

🛍️ Shopping and Transit Hub: Everything Within Reach

This home offers unmatched urban access:

Metropolis at Metrotown – B.C.’s largest shopping mall, with 450+ stores, restaurants, and Cineplex Cinemas.
Crystal Mall – A popular local hub for Asian groceries, food courts, and community events.
Easy commute via Metrotown SkyTrain Station or Royal Oak Station — linking you to Downtown Vancouver in under 20 minutes.

💡 Why Buy a Condo in Burnaby South?

Thinking, “How much does a condo in Burnaby cost?” The area remains competitively priced compared to downtown Vancouver, with strong value appreciation over time. Condos here offer:

Lower average price per square foot
High walkability scores
Strong rental demand

🏠 About the Property – MLS® R3000090

This condominium offers:

3 Bedrooms, 2 Bathrooms
Modern open-concept kitchen with updated appliances
Private balcony with skyline views
Secure underground parking and storage locker

📅 Join Us for the Open House

When: May 18, 2025 | 2PM to 4PM
Where: 305 4788 Hazel Street, Burnaby South V5H 4V9

Come tour the space, ask questions, and envision your life here. Our team will be on hand to walk you through features, financing options, and local market trends.

🔑 Ready to Make a Move?

Thinking of buying? See how we can help you achieve top results →

Let me guide you through every step — from discovery to deal.

Just Sold in New Westminster: Modern Townhouse in a Prime School Catchment

Tue, 06 May 2025 09:06:26 GMT

MLS® R2987910 | Townhouse | Sales-to-Active Ratio: 17.20%

Sold Townhouse in New Westminster—Located in one of the city’s most sought-after neighborhoods, this beautiful townhouse didn’t last long on the market. With demand on the rise and a sales-to-active ratio of 17.20%, this sale highlights the continued strength of the New Westminster real estate market.

✨ About the Property: Comfort Meets Convenience

This stylish townhouse offered an ideal combination of modern design, functional layout, and access to everything New Westminster has to offer. It provided:

Spacious interiors perfect for families or professionals working from home
Outdoor space for entertaining or relaxing in the fresh air
Secure parking and storage, a must-have in this vibrant area

All of this, wrapped in a well-maintained community just minutes from Herbert Spencer Elementary, Glenbrooke Middle School, and New Westminster Secondary, made this listing especially attractive for young families.

📍 Neighborhood Highlights: Life in New Westminster

New Westminster is one of Metro Vancouver’s most historic and community-driven cities. Here’s why so many people want to call it home:

🏞️ Parks & Outdoor Spaces

Queens Park: A lush urban oasis featuring sports courts, playgrounds, and picnic areas
Moody Park: A popular spot for community events, with an outdoor pool and walking paths
Glenbrook Ravine Park: Perfect for nature lovers seeking trails and tranquility

🏫 School Catchment Area

Herbert Spencer Elementary: A top-rated school known for its inclusive learning environment
Glenbrook Middle School: Offers French immersion and standard English curriculums.
New Westminster Secondary School: Recently built, offering excellent academic and extracurricular programs

📌 View catchment details on the New Westminster School District site

🛍️ Shopping, Dining, & Transit

Royal City Centre: Just minutes away for shopping, services, and eateries
Columbia Street & Uptown New West: Lined with local boutiques, coffee shops, and restaurants
SkyTrain Access: Easy connectivity to downtown Vancouver and Burnaby

🚆 See TransLink transit options

📊 Real Estate Market Snapshot

The 17.20% sales-to-active ratio reflects a seller’s market—properties like this one are in high demand. With inventory moving quickly, buyers are motivated and homes are often sold at strong prices.

🔍 Wondering “How much does a condo in Burnaby cost?” or how your New Westminster home stacks up? We can help you compare across neighborhoods.

📈 Explore active listings in New Westminster

🤝 Thinking of Selling?

Now’s a great time. This townhouse sale proves that with the right marketing, local insight, and strategy, you can achieve top dollar in today’s market.

🔗 Learn more about selling with Adam Goss
📞 Reach out for your free home evaluation today!

Ready to make your move?
Let’s connect and turn your property goals into reality.

Metro Vancouver Market Update – April 2025

Sat, 03 May 2025 00:09:26 GMT

Balanced Conditions, Active Buyers, and Strategic Considerations

Market Overview

April 2025 saw a continued moderation in sales activity, while inventory levels reached their highest point since 2019.

According to the Greater Vancouver REALTORS®, a total of 2,163 residential sales were recorded — a 23.6% decline from April 2024 and 28.2% below the 10-year seasonal average.

Despite the lower sales volume, buyer interest remains strong, especially for homes that are well priced and well presented. Many submarkets are still seeing busy open houses and multiple offers on select listings.

The current market is best described as balanced. Conditions don't significantly favour either buyers or sellers but instead reward those who take a data-informed, strategic approach to pricing and presentation.

Key Indicators – April 2025

The sales-to-active listings ratio stayed within balanced territory:

Detached homes: 9.9% (buyers' market range)
Attached homes: 17.5%
Apartments: 15.7%

Pricing Trends by Property Type

Price movements have remained modest month-over-month, showing overall stability despite rising inventory. However, year-over-year benchmark prices are down across all property types, with the most notable decline in townhouses.

Area Highlights

Here's a snapshot of year-over-year composite benchmark price changes in key Metro Vancouver submarkets:

Burnaby East: $1,131,200 (▼ 3.0%)
Burnaby North: $1,109,600 (▼ 2.6%)
Burnaby South: $1,123,800 (▼ 3.4%)
New Westminster: $815,500 (▼ 2.7%)
Coquitlam: $1,080,300 (▼ 4.0%)
Vancouver East: $1,224,400 (▲ 0.1%)
Vancouver West: $1,336,800 (▼ 0.8%)
Port Moody: $1,088,900 (▼ 4.1%)

These numbers reflect a softening trend overall, although Vancouver East has shown some resilience, holding steady year-over-year.

Interpreting the Market

While overall sales volume is down, market activity is still present. Buyers remain engaged, particularly where homes are:

Accurately priced relative to recent comparable sales
Properly prepared and marketed
Located in high-demand neighbourhoods or property segments

On the flip side, overpriced or poorly presented listings are stagnating, contributing to high inventory levels. This creates opportunities for well-prepared buyers, especially those who are pre-approved and ready to act.

For sellers, it’s a more competitive environment, particularly in the detached segment.

Broader Economic Context

Several economic trends are shaping buyer and seller behaviour:

Interest Rates: The Bank of Canada held its policy rate at 2.75% in April after seven consecutive rate cuts from its 2023 high of 5%.
Mortgage Costs: Fixed rates dropped in early April but ticked back up later in the month due to U.S. bond market volatility.
Affordability: Mortgage rates are still low by recent standards, supporting buyer purchasing power.
Federal Election: With Prime Minister Mark Carney now leading the Liberal government, markets and consumer confidence are still adapting to new policies.
National Trends: Across Canada, home sales were down 9.3% year-over-year in March, with softening demand indicators nationally.

These broader conditions help explain why Metro Vancouver remains an active but selective market.

Final Thoughts

The April 2025 market presents a nuanced picture:

Sales are down from last year
Inventory is high
Buyers are active but deliberate
Strategy matters more than ever

Homes that are well priced, well presented, and well located are still drawing attention — often from multiple buyers. Others are sitting.

Whether you’re buying or selling, it's essential to understand your local market dynamics and how they connect to the broader real estate landscape.

Open House. Open House on Saturday, April 19, 2025 2:00PM - 4:00PM

Thu, 17 Apr 2025 09:08:15 GMT

Please visit our Open House at 239 600 Park Crescent in New Westminster. See details here

Open House on Saturday, April 19, 2025 2:00PM - 4:00PM

Welcome home to this bright and beautifully updated corner townhome in one of New Westminster's most sought-after communities. Steps from Queens Park, Royal Square, and the new t?m?s?wtx? Aquatic Centre, this 2-level home offers a lifestyle of ease, access, and everyday comfort. The functional, thoughtfully designed layout features two bedrooms, full bath, and laundry above the main, with an updated kitchen and eating area thoughtfully separated from the open living and dining space—an inviting, house-like touch rarely found in modern strata homes. The end unit orientation brings in extra natural light and includes a covered balcony. Secure parking and storage included. Located in a desirable school catchment, in a walkable neighbourhood with daily conveniences and a well-run complex.

New property listed in GlenBrooke North, New Westminster

Wed, 09 Apr 2025 09:11:05 GMT

I have listed a new property at 239 600 Park Crescent in New Westminster. See details here

Open House. Open House on Sunday, April 13, 2025 2:00PM - 4:00PM

Wed, 09 Apr 2025 09:11:05 GMT

Please visit our Open House at 239 600 Park Crescent in New Westminster. See details here

Open House on Sunday, April 13, 2025 2:00PM - 4:00PM

🏠 2025 Federal Election: What Each Party is Proposing on Housing and Real Estate

Tue, 08 Apr 2025 21:42:18 GMT

Housing affordability, homeownership, and rental supply are key issues in the lead-up to Canada’s federal election on April 28, 2025. This guide provides a clear, factual, and non-partisan summary of what each major political party is proposing when it comes to real estate, housing, and rental markets—topics that directly affect Canadian homeowners, renters, and industry professionals.

✅ This post is strictly non-partisan.
To ensure neutrality, parties are listed in alphabetical order by party name, not by polling data, seat count, or leadership.

🟦 Conservative Party of Canada

Overall Focus: Cut red tape, lower taxes, and boost private-sector-led housing supply.

Key Proposals:

Homebuilding Incentives: Require cities with high housing prices to increase homebuilding by at least 15% per year to maintain federal infrastructure funding. Municipalities exceeding targets receive bonuses.
Zoning Reforms: Make federal transit and infrastructure funding conditional on allowing higher-density housing near transit.
Federal Land Use: Sell at least 15% of federal real estate (e.g., office buildings, unused land) to build homes.
Streamlining: Cancel the Housing Accelerator Fund and replace it with direct permit and approval incentives.
Red Tape Reduction: Cut 25% of federal red tape and pass a law requiring the elimination of two regulations for every new one introduced.
Skilled Trades Support: Bring back $4,000 apprenticeship grants and create 350,000 new skilled trades training spaces.

Homeownership & Affordability:

Remove GST on new homes up to $1.3 million, saving buyers up to $65,000.
Restore the full $5,000 Home Buyers’ Tax Credit.
Extend amortization to 30 years for first-time buyers.
Allow 7–10 year fixed-rate mortgages.
Expand TFSA limits to $12,000 annually.
Defer capital gains tax when reinvested in Canada.

Rental Housing:

Support private investment in purpose-built rental housing by easing regulations and removing GST.
Offer support to charities and Indigenous communities building rental units.

Foreign Buyers & Speculation:

Maintain or extend the foreign buyer ban.
Enforce transparency in beneficial ownership.
Tighten anti-speculation measures.

🔗 Visit the Conservative Party website

🟩 Green Party of Canada

Overall Focus: Public housing, long-term affordability, and ending corporate profiteering in the rental market.

Key Proposals:

Public Housing Expansion: Launch the largest public housing program since the 1970s.
Affordability Standard: Redefine “affordable” housing as costing no more than 30% of household income.
Permanently Affordable Housing: Use legal covenants to ensure affordability in publicly funded projects.
Market Regulations:
- Ban corporate acquisition of low-density housing.
- Eliminate tax breaks for REITs.
- Strengthen rules to prevent real estate speculation and money laundering.

Rental Market & Tenant Support:

Declare a national housing affordability and homelessness emergency.
Implement a national moratorium on evictions and introduce rent arrears support.
Increase the Canada Housing Benefit.
Provide supportive housing with wraparound services (mental health, addiction care).
Work to eliminate homeless encampments through housing-first policies.

🔗 Visit the Green Party website

🔴 Liberal Party of Canada

Overall Focus: Federal leadership in homebuilding, financial supports for buyers, and zoning reform.

Key Proposals:

Build Canada Homes (BCH): A new federal agency to directly develop housing, including on public land.
Construction Target: Nearly 500,000 new homes per year.
Prefabricated Housing Support: $25B in financing for mass timber and innovative homebuilders.
Affordable Housing Financing: $10B in low-cost loans, including $6B for deeply affordable supportive housing.
Housing Accelerator Fund: Continued funding to municipalities that fast-track zoning and permitting.
Building Code Simplification: Faster approvals through streamlined federal standards.

Homeownership:

GST eliminated on homes under $1 million for first-time buyers.
Extend insured mortgage amortization to 30 years for new-builds.
Tax-Free First Home Savings Account available.
Maintain the $10,000 First-Time Home Buyers' Tax Credit.
Propose a Home Buyers’ Bill of Rights to ban blind bidding and ensure inspections.

Rental Housing:

Expand the Canada Housing Benefit.
Continue GST removal on new rental projects.
Collaborate with provinces to protect tenants' rights (while respecting provincial jurisdiction).

Foreign Buyers & Speculation:

Extend the foreign buyer ban to 2027.
Maintain the 1% vacant property tax on non-resident-owned homes.
Enforce the anti-flipping tax for properties sold within 12 months.

🔗 Visit the Liberal Party website

🟠 New Democratic Party (NDP)

Overall Focus: Massive public investment in affordable housing, tenant protections, and curbing corporate control of rentals.

Key Proposals:

3 Million Homes by 2030, including:
- 500,000 affordable homes.
- 100,000 rent-controlled homes on federal land.
Dedicate all suitable federal land to housing development.
Double the Public Land Acquisition Fund to help build more non-market homes.
Create a Community Housing Development Bank to finance Indigenous, co-op, and nonprofit housing.
Replace the Housing Accelerator Fund with a permanent $16B housing strategy.

Rental Market & Tenant Rights:

National rent control standards tied to federal funding.
Immediate rent subsidies for people spending too much of their income on rent.
Ban renovictions, demovictions, fixed-term leases, and rent price collusion.
Expand the federal vacancy tax.
Tax profits from flipped homes sold within 5 years as income (unless principal residence).
Create a fund for nonprofits to buy at-risk rental buildings.

Homeownership:

CMHC to offer low-interest, public-backed mortgages to eligible first-time buyers.

Foreign Buyers & Speculation:

Permanent foreign buyer ban, including numbered companies.

🔗 Visit the NDP website

🟣 People’s Party of Canada (PPC)

Overall Focus: Reduce demand by curbing immigration, eliminate government housing programs, and allow market-led correction.

Key Proposals:

Freeze Immigration: Temporary halt on new permanent residents; later capped at 100,000–150,000/year.
Eliminate CMHC and federal housing subsidies.
Repeal Buyer Grants & Retrofits: End all first-time buyer grants and energy retrofit programs.
Respect Local Zoning: Oppose federal involvement in municipal land use planning.
Anti-Speculation Measures:
- Support provincial restrictions on foreign buyers.
- Work with provinces to combat money laundering in real estate.

🔗 Visit the PPC website

🏢 Industry Perspectives

CREA & BCREA

Advocate for supply-focused policies and tools to support homeownership.
Endorse extending the ban on non-resident buyers.
Recommend a national expert roundtable to review new housing policies before implementation.

📌 Final Word

Canada’s housing crisis is complex, and the federal election brings several competing visions on how to address it. Whether you’re a buyer, seller, investor, or renter, this guide is designed to keep you informed and equipped with facts that directly affect your real estate decisions.

🔍 For the full, official platforms, visit the party websites listed above.

🏡 March 2025 Metro Vancouver Market Update: A Market Made for Buyers — But Where Are They?

Fri, 04 Apr 2025 00:38:35 GMT

As we step into April, the Metro Vancouver real estate market continues to send a clear message: conditions are aligned in buyers’ favour — yet many are still sitting on the sidelines.

📉 Sales Slowdown Despite Buyer-Friendly Conditions

March 2025 recorded 2,091 residential sales, a 13.4% decrease from March 2024, and a notable 36.8% below the 10-year seasonal average. While sales were up from February (as expected seasonally), this past month was the quietest March for sales activity since 2019.

What makes this especially striking is that today’s environment is, by many measures, the most buyer-friendly we’ve seen in years:

Benchmark prices have eased from last year’s highs.
Mortgage rates are at multi-year lows.
Inventory is up, with 14,546 active listings — the highest in almost a decade.

Yet, buyers have been slow to act.

🏷️ Price Stability Amid Growing Supply

Prices have remained relatively steady across most home types:

All residential properties: Benchmark at $1,190,900, up 0.5% from February, but down 0.6% from March 2024.
Detached homes: Benchmark at $2,034,400, up 0.4% month-over-month, and 0.8% year-over-year.
Townhomes: Benchmark at $1,113,100, up 0.2% monthly, but down 0.8% annually.
Apartments: Benchmark at $767,300, up 1.0% from February, but down 0.9% from last year.

These small month-over-month price increases are more indicative of seasonal trends than a true shift in momentum — for now.

📊 Sales-to-Active Listings Ratio: Balanced, but Telling

The sales-to-active listings ratio for March 2025 sat at 14.9%:

Detached homes: 10.3% (buyer’s market territory)
Apartments: 16.2% (balanced market)
Townhomes: 21.5% (approaching seller’s market)

These numbers suggest prices are likely to hold steady or face slight downward pressure — especially in the detached segment. However, the tight inventory in the townhouse category means that segment may remain more competitive.

🏙️ Local Market Snapshot

A few highlights from core areas:

Burnaby North: Residential benchmark rose 0.7% month-over-month to $1,009,600.
Coquitlam: Slight dip of 0.1%, now at $1,087,500.
New Westminster: Down 0.1% month-over-month, with a benchmark of $818,700.
Vancouver East: Up 0.4%, reaching $1,222,100.
Vancouver West: Benchmark at $1,345,900, up 0.5% from February.
Port Moody: Notable drop of 1.1%, likely tied to softer activity in higher-priced segments.

🤔 What's Holding Buyers Back?

Despite favourable fundamentals, economic and political uncertainty — particularly related to the new U.S. administration and potential tariffs — seems to be influencing buyer psychology. Some buyers may also be waiting for further price adjustments or struggling to find the right product in a market where condition and affordability are now more important than ever.

That said, some smart buyers are moving, especially those who understand how to leverage low rates and increased selection. There are still multiple offers happening in well-priced, well-presented listings — particularly in townhomes and west side condos.

📈 What to Watch Going Forward

The current market feels reminiscent of early 2023 — slow start, but signs that momentum could build into late spring and summer. Much will depend on how interest rates and broader economic signals evolve in the coming months.

✅ Key Takeaways

Buyers: You have more choice and better borrowing conditions than we've seen in years. If you're financially ready, this may be an ideal window to explore your options before competition potentially ramps up.
Sellers: With more listings coming online, strategic pricing and presentation are crucial. Townhomes remain in demand — especially those in family-oriented communities.
Investors: If you're holding or selling rental properties, the uptick in listings might reflect broader landlord activity. Be strategic about when and how to list.

📞 Ready to Navigate the Market?

Whether you're buying, selling, or simply trying to understand your options, we're here to help. Get in touch for a personalized market consultation, and let’s talk about your next steps.

Just Sold in New Westminster: Stunning Townhouse Finds Its New Owner!

Fri, 21 Mar 2025 04:10:42 GMT

A Fantastic Home in a Thriving Community

We are thrilled to announce the successful sale of a beautiful townhouse in New Westminster! Located in a vibrant neighborhood with top-rated schools, parks, and shopping centers, this property (MLS #: R2966204) is now off the market. If you’ve been considering buying or selling in this sought-after area, now is the time to act!

A Look at the Property: Classic Charm with Future Potential

MLS #: R2966204
Property Type: Townhouse
Bedrooms: 4
Bathrooms: 3
Floor Size: 2,398 sqft
Zoning: RT-2A
School Catchment:
- Richard McBride Elementary
- New Westminster Secondary

Why This Townhouse Was a Hot Listing

With a 27.60% sales-to-active ratio, the New Westminster market remains highly competitive. This townhouse stood out for several reasons:

Prime Location: Situated in a family-friendly neighborhood with easy access to Richard McBride Elementary and New Westminster Secondary.
Spacious and Modern: Designed for comfortable living, offering ample space for families or professionals.
Convenient Amenities: Close to local parks, shopping centers, and transit options for effortless commuting.

Discover the Charm of New Westminster

Living in New Westminster means enjoying a perfect blend of urban convenience and natural beauty. Here are some highlights of the area:

Parks & Recreation: Queens Park is a community favorite, offering green spaces, sports facilities, and playgrounds.
Shopping & Dining: Columbia Street and Royal City Centre feature a variety of shops, restaurants, and cafes for every taste.
Easy Transit Access: The property is near SkyTrain stations and major roads, making commuting to downtown Vancouver a breeze.

Thinking of Selling? Let’s Make It Happen!

This successful sale proves that homes in New Westminster are in high demand. If you’re thinking about selling, now is the perfect time to maximize your property’s value.

Contact us today to learn how we can help you achieve top results!

February 2025 Metro Vancouver Real Estate Market Update

Wed, 05 Mar 2025 04:28:40 GMT

Balanced Market Conditions Continue as Inventory Rises and Sales Slow

February 2025 saw Metro Vancouver’s housing market maintain balanced conditions, as inventory levels increased while sales activity slowed. With a potential Bank of Canada rate cut expected in mid-March, both buyers and sellers are navigating a market that offers the highest level of selection seen since pre-pandemic times.

Market Overview: Sales & Inventory Trends

Sales: Residential sales across Metro Vancouver totaled 1,827 in February, an 11.7% decrease from February 2024 and 28.9% below the 10-year seasonal average.
New Listings: 5,057 new listings entered the market, marking a 10.9% increase year-over-year and 11.6% above the 10-year seasonal average.
Total Listings: Active listings reached 12,744, representing a 32.3% increase from February 2024 and 36.4% above the 10-year seasonal average.
Sales-to-Active Listings Ratio: The overall ratio was 14.8%, indicating a balanced market where prices tend to remain stable.

📌 Market Insight:
The increase in new and active listings is giving buyers more choices, but demand remains tempered due to economic uncertainty and higher borrowing costs.

Price Trends & Benchmark Values

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver sits at $1,169,100, reflecting:

A 1.1% decrease from February 2024.
A 0.3% decline compared to January 2025.

📉 What This Means:
With inventory growing and sales slowing, home prices are experiencing a flattening trajectory, consistent with balanced market conditions.

Breakdown by Property Type

Detached Homes

Sales: 477 units sold, down 14.8% from February 2024.
Benchmark Price: $2,006,100, up 1.8% year-over-year.
Sales-to-Active Listings Ratio: 10.7%, indicating mild downward pressure on prices.

Townhouses (Attached Homes)

Sales: 359 units sold, down 10.9% year-over-year.
Benchmark Price: $1,087,100, down 1.2% from February 2024.
Sales-to-Active Listings Ratio: 18.5%, suggesting a more balanced townhouse market.

Condominiums (Apartments)

Sales: 976 units sold, down 10.6% year-over-year.
Benchmark Price: $747,500, down 2.8% from February 2024.
Sales-to-Active Listings Ratio: 16.8%, maintaining stable conditions.

Regional Highlights: A Closer Look at Pricing and Market Trends

Each region in Metro Vancouver tells a different story, shaped by buyer demand, available inventory, and local economic factors. Here’s what the latest benchmark prices reveal about the housing landscape across Burnaby, New Westminster, Vancouver, and the Tri-Cities.

🏡 Burnaby: Market Stability Amid Growing Inventory

Burnaby continues to experience balanced market conditions, with slight price adjustments across all property types.

Burnaby East: $1,139,200 (Detached: $1,959,700 | Townhouse: $915,800 | Apartment: $784,900)
📌 Insight: Prices in Burnaby East remain relatively stable, with detached homes seeing stronger resilience than other property types. Townhouses and apartments here offer more affordability compared to other Burnaby submarkets.
Burnaby North: $981,700 (Detached: $2,085,400 | Townhouse: $911,000 | Apartment: $732,000)
📌 Insight: Benchmark prices have slightly softened, reflecting a balanced market where buyers have more choice. Apartments are holding steady at $732,000, making this a more accessible entry point for first-time buyers.
Burnaby South: $1,116,000 (Detached: $2,207,300 | Townhouse: $1,108,700 | Apartment: $823,100)
📌 Insight: Burnaby South remains one of the higher-priced submarkets, particularly in the townhouse segment, where benchmark values exceed $1.1M. The price stability in this area suggests steady buyer demand despite increased inventory.

🏡 New Westminster: A Resilient Market for Buyers & Sellers

Overall Benchmark Price: $823,700 (Detached: $1,574,200 | Townhouse: $950,700 | Apartment: $657,600)
📌 Insight: New Westminster continues to offer strong value compared to its neighboring cities, making it an attractive choice for first-time buyers.

🏡 Vancouver: A Tale of Two Markets

Vancouver's market remains diverse, with pricing shifting differently across the East and West.

Vancouver East (Benchmark: $1,215,300) remains more affordable than Vancouver West, particularly for apartment buyers at $684,800.
Vancouver West (Benchmark: $1,320,000) continues to command premium prices, with detached homes averaging $3.49M.

🏡 The Tri-Cities: A Market in Transition

The Tri-Cities (Coquitlam, Port Moody, and Port Coquitlam) continue to attract buyers seeking affordability and space, particularly as Vancouver’s prices remain high.

Coquitlam (Benchmark: $1,080,000) shows strong demand, with affordable apartment pricing ($732,000) keeping buyers engaged.
Port Moody (Benchmark: $1,077,900) remains a higher-priced area, with detached homes over $2M.
Port Coquitlam (Benchmark: $952,700) remains one of the most affordable options, making it a strong choice for first-time buyers.

Market Factors to Watch

🔹 Interest Rates: A Bank of Canada rate cut expected in March could make mortgages more affordable, stimulating demand.
🔹 Spring Market Activity: Historically, March to June sees increased buyer interest—watch for shifts in sales trends.
🔹 Economic Factors: Tariff-related economic uncertainties may impact investment and housing demand.

Key Takeaways for Buyers & Sellers

🔹 For Buyers:

More inventory means greater choice and less competition.
Potential rate cuts could improve affordability in the coming months.

🔹 For Sellers:

Pricing strategically is essential in this balanced market—overpricing may lead to longer time on market.
Spring could bring higher buyer activity, but patience is key.

Final Thoughts

With Metro Vancouver real estate continuing to balance out, both buyers and sellers are benefiting from more predictable conditions. If you're considering a move, let's discuss how this evolving market impacts your goals.

📩 Thinking of Buying or Selling?
Reach out for a personalized market strategy tailored to your needs.

Just Sold in Burnaby: A Family Home with 40 Years of Memories

Tue, 25 Feb 2025 09:02:12 GMT

Selling a home isn’t just a transaction—it’s a major life transition. For the owners of 8464 15th Avenue, Burnaby, this house represented four decades of cherished moments. From raising a family to forming strong neighborhood bonds, this home was filled with love. But when the time came to downsize and move forward, the right strategy made all the difference.

A Look at the Property: Classic Charm with Future Potential

MLS #: R2958088
Property Type: Single-Family Home
Bedrooms: 3
Bathrooms: 1
Lot Size: 6,534 sqft
Zoning: R1 – Development Potential
School Catchment:
- Armstrong Elementary
- Cariboo Hill Secondary

This well-maintained home sat on a spacious lot with lane access, making it an excellent opportunity for families or developers looking to invest in Burnaby East.

Overcoming Challenges: A Strategic Approach to Success

Selling a longtime family home comes with emotional and logistical complexities. My role as a real estate expert was to guide the sellers through this process with clarity and care.

Key Strategies That Led to a Successful Sale

✅ Understanding Their Needs: Making sure the transition felt right, not rushed.
✅ Targeted Market Positioning: Highlighting the property’s development potential due to Burnaby’s evolving zoning.
✅ Effective Marketing & Exposure:

Drone photography to showcase the lot size and surrounding neighborhood.
Custom messaging to appeal to both families and builders/investors.
Leveraging my builder network to attract buyers actively searching for redevelopment opportunities.

✅ Skilled Negotiation: Securing an offer that met the seller’s financial and timing needs, ensuring peace of mind.

Why Now Was the Perfect Time to Sell

With Burnaby’s sales-to-active ratio at 14%, the market remains balanced, allowing well-priced properties to sell effectively.
🏡 High buyer interest in homes with redevelopment potential created the perfect conditions for a fast and competitive sale.

Why Buyers Love This Burnaby East Location

Burnaby East offers the best of suburban comfort and urban convenience, making it an attractive choice for families, professionals, and investors alike.

🏞️ Parks & Recreation

Robert Burnaby Park – A lush green space with walking trails, a playground, an outdoor pool, and tennis courts.
Cariboo Park – A family-friendly park with sports fields and picnic areas.

🏫 Top-Rated Schools

Armstrong Elementary – A highly sought-after school with a strong community focus.
Cariboo Hill Secondary – Offers French immersion and Advanced Placement (AP) programs.

🛍️ Shopping & Essentials

The Crest Shopping Centre – Groceries, pharmacy, and cafés just minutes away.
Lougheed Town Centre – A major retail hub with shopping, dining, and transit access.

With easy access to Highway 1, this neighborhood provides quick commutes across Metro Vancouver.

A Meaningful Milestone for the Sellers

After 40 years in their beloved home, my clients were ready for a fresh start. While the decision wasn’t easy, they felt supported every step of the way—from preparing their home for market to securing the right offer. Their excitement for the next chapter was truly rewarding to witness.

Thinking of Selling? Let’s Make Your Next Move a Success

🏡 Whether you’re downsizing, upgrading, or selling an investment property, a proven marketing strategy is key to getting top results.

📩 Contact us today to learn how we can help you achieve your real estate goals!

Just Sold: Charming Condo in Uptown New Westminster – A Perfect Fit for a Special Buyer

Tue, 25 Feb 2025 09:02:12 GMT

Finding the right home is about more than just square footage—it’s about lifestyle, location, and long-term value. When a former school teacher reached out for help securing their ideal space, we set out to find a home that aligned with their needs and future plans. After careful searching and strategic negotiation, we landed the perfect 2-bedroom condo in Uptown New Westminster, securing favorable terms in a competitive market.

Property Details: A Cozy & Convenient Home in Uptown New Westminster

MLS #: R2958409
Property Type: Condo
Bedrooms: 2
Bathrooms: 1
School Catchment:
- Elementary: Lord Kelvin
- Middle: Fraser River
- Secondary: New Westminster
Sales-to-Active Ratio: 19.10% (A strong market for sellers!)

This well-maintained condo offered the perfect mix of walkability, transit access, and community amenities, making it an excellent choice for a buyer looking to stay connected to their favorite local spots.

Overcoming Challenges: Finding the Right Home in an Older Building

This sale wasn’t just about finding a great home—it was about making sure the investment made sense. Since the condo was in an older building, we took extra steps to ensure financial security for the buyer.

✅ Thorough Financial & Maintenance Assessment

Reviewed the building’s strata documents for any upcoming maintenance projects.
Evaluated the contingency reserve fund to confirm long-term financial stability.
Consulted with specialists to understand potential future costs.

✅ Negotiation Strategy That Delivered Results

Ensured the offer reflected both current value and future considerations.
Secured favorable terms, giving the buyer peace of mind for their investment.

Why Uptown New Westminster? A Community with Everything You Need

Uptown New Westminster is a vibrant, walkable neighborhood offering a mix of historic charm and modern conveniences. Residents love the area for its small-town feel with big-city access.

🏞️ Parks & Outdoor Spaces

Moody Park – A beautiful green space with walking trails, playgrounds, a pool, and sports courts.
Queen’s Park – Home to gardens, an off-leash dog area, and seasonal festivals.

🏫 Top Schools in the Area

Lord Kelvin Elementary – A community-focused elementary school known for strong academics.
Fraser River Middle School – Offers a diverse range of programs and extracurricular activities.
New Westminster Secondary – One of the largest high schools in British Columbia, with specialized programs.

🛍️ Shopping & Local Conveniences

Royal City Centre – Featuring grocery stores, pharmacies, and essential services.
Columbia Street Shops & Cafés – A mix of boutique stores, coffee shops, and restaurants.
Transit Access – SkyTrain and major bus routes offer quick connections to Burnaby and Downtown Vancouver.

A Meaningful Home Purchase for a Special Client

For my former teacher, this wasn’t just about buying a condo—it was about finding a space that felt like home. The process required careful research, smart negotiation, and a deep understanding of market trends, and I’m thrilled that we found the perfect fit.

Thinking of Buying or Selling? Let’s Make It Happen!

🏡 Whether you’re looking for a new home or ready to sell, the right strategy makes all the difference.

📩 Contact us today to learn how we can help you achieve your real estate goals!

How New U.S. Tariffs Could Impact Metro Vancouver Real Estate: What You Need to Know

Mon, 03 Feb 2025 19:10:53 GMT

Introduction

The recent announcement of new U.S. tariffs on Canadian goods has sparked concern across various industries, including real estate. As homeowners, buyers, and sellers in Metro Vancouver, it's natural to wonder: How will these tariffs impact housing prices, mortgage rates, and the overall market? While tariffs may not directly affect real estate transactions, their economic ripple effects can influence everything from construction costs to consumer confidence.

In this article, we break down what tariffs are, why they are being imposed, how they could affect the Canadian economy, and—most importantly—what this means for the Metro Vancouver real estate market. Whether you're planning to buy, sell, or simply stay informed, this guide will help you understand the potential impacts and what to watch for in the months ahead.

What Are Tariffs, and Why Are They Imposed?

Q: What exactly is a tariff?
A tariff is a tax or duty imposed on goods imported from another country. It is typically charged as a percentage of the product's value and paid by importers when the goods arrive at customs. Governments use tariffs for various reasons, including raising revenue, protecting domestic industries, and influencing foreign trade policies.

Q: Why has the U.S. imposed new tariffs on Canada?
The U.S. government, under President Trump, recently announced a new round of tariffs on imports from Canada and other nations. These tariffs are being positioned as a means to protect American industries, reduce trade deficits, and address what the U.S. administration sees as unfair trade practices. However, tariffs often lead to retaliatory actions, and the Canadian government has responded with its own countermeasures.

What Tariffs Are Being Imposed and How Might They Affect Canada?

Q: Which Canadian goods are affected?
The latest round of U.S. tariffs includes a 25% tax on most imports from Canada and 10% on energy exports. Key affected sectors include steel, aluminum, automobiles, machinery, wood products, and consumer goods.

Q: How is Canada responding?
In retaliation, Canada has imposed 25% tariffs on $155 billion worth of U.S. goods, targeting items like vehicles, steel, aluminum, beef, pork, and dairy, as well as consumer goods like cosmetics, paper products, and appliances.

Could These Tariffs Impact the Housing and Mortgage Markets?

Q: Will these tariffs directly impact real estate prices?
Not directly, but the effects of tariffs can ripple through the economy in ways that influence housing. One of the most immediate concerns is consumer sentiment—when people feel uncertain about the economy, they may delay large financial decisions like purchasing a home. If buyers expect home prices to decline or are concerned about job stability, demand could slow, even if actual costs remain unchanged in the short term.

Q: Could this lead to higher home prices?
Eventually, yes. While the impact on construction costs may take time to materialize, developers could pass higher costs for materials onto buyers. For example, if materials for condo developments in Burnaby or Vancouver’s downtown core become more expensive, developers may either raise prices or delay projects, worsening housing supply issues. However, the more immediate effect may be a slowdown in buyer activity due to uncertainty.

Q: How might this affect the resale housing market?
Economic uncertainty can lead to reduced buyer confidence, causing some prospective buyers to hold off on making a purchase. If demand slows, resale prices may stagnate or decline, at least in the short term. However, if new housing supply is constrained due to increased costs and delayed construction, resale properties could see a relative increase in demand over time.

Could Tariffs Affect Mortgage Rates and Financing?

Q: Will tariffs impact interest rates in Canada?
Possibly. If tariffs drive up the cost of goods, inflation may rise. The Bank of Canada could be forced to rethink its rate-cut strategy, delaying or even reversing expected reductions in borrowing costs. If rates remain high or increase, mortgage affordability could be squeezed, making homebuying less accessible.

Q: Could this impact the availability of mortgage financing?
Potentially. If economic uncertainty grows, lenders may become more cautious, tightening borrowing conditions. This could mean stricter approval requirements or higher rates for variable-rate mortgages.

Are There Any Historical Comparisons?

Q: Has Canada’s real estate market been affected by tariffs before?
Yes. One notable example is the softwood lumber dispute, which saw U.S. tariffs on Canadian wood drive up construction costs and home prices. Historically, trade wars have created short-term economic shocks and long-term shifts in investment strategies.

Q: Are there global examples of tariffs causing economic downturns?
Yes. The Smoot-Hawley Tariff Act of 1930 worsened the Great Depression by triggering retaliatory tariffs and collapsing global trade. Another example is the Chicken Tax, a tariff imposed by the U.S. in the 1960s on European light trucks, which reshaped the automotive industry and trade dynamics for decades.

What Should Homeowners and Buyers Expect Going Forward?

Q: Should homeowners or buyers be worried?
It depends on how long these tariffs last and whether they escalate. Short-term effects may include higher renovation costs and delays in new housing supply. If tariffs trigger inflation and rate hikes, borrowing costs may rise, impacting home affordability. However, if economic conditions weaken significantly, the Bank of Canada might cut rates to stimulate demand, creating opportunities for buyers.

Q: Could this lead to a buyer’s or seller’s market?
If confidence declines and borrowing remains expensive, demand for homes could soften, leading to a more balanced or even buyer-friendly market in some areas. However, if inflationary pressures keep costs high and new housing supply shrinks, sellers may maintain leverage, particularly in high-demand urban areas.

Final Thoughts: What Should Homeowners Do?

While it’s still early to predict the full effects of these tariffs, it’s essential to stay informed. If you’re considering buying or selling, understanding how economic changes influence home prices, interest rates, and mortgage availability is key.

Have questions about how this could affect your property or future real estate plans? Let’s chat. Reach out anytime for expert insights and personalized advice.

How the Bank of Canada’s Recent Rate Cut Impacts Real Estate in Greater Vancouver

Wed, 29 Jan 2025 18:07:18 GMT

This morning, the Bank of Canada (BoC) announced a 25-basis-point cut to its overnight rate, bringing it to 3%. This is the sixth consecutive rate cut since June 2024, signaling a continued effort to support Canada’s economy. Alongside this, the Bank also announced the end of its quantitative tightening policy and adjustments to its deposit rate. These decisions could have significant implications for the Greater Vancouver real estate market, and we’re here to break it down for you.

What You Need to Know

Lower Interest Rates Mean Lower Borrowing Costs
The reduction in the overnight rate impacts variable and adjustable-rate mortgages as well as home equity lines of credit. For buyers in Greater Vancouver—including Burnaby, New Westminster, and the Tri-Cities—this means lower monthly payments and increased affordability for properties like condos, townhouses, and detached homes.

Inflation is Steady, But Growth is Slower Than Expected
Canada’s inflation rate is holding steady at 2%, the BoC’s target. However, economic growth is projected at 1.8% for 2025 and 2026, slightly below earlier forecasts due to reduced immigration targets. A softer labor market, where unemployment remains at 6.7%, adds to the slower pace of recovery.

Spring Housing Market Set to Benefit
The rate cut arrives just before the traditionally active spring real estate season. Lower borrowing costs may encourage more buyers to enter the market, boosting demand for properties across Greater Vancouver. For sellers, this is a great opportunity to capitalize on increased interest, particularly in family-friendly areas like Burnaby East or amenity-rich neighborhoods in Vancouver and the Tri-Cities.

What Does This Mean for the Greater Vancouver Real Estate Market?

Increased Buyer Activity
The lower cost of borrowing is expected to spur more activity in the housing market. Buyers who were previously sitting on the sidelines due to higher interest rates may now find themselves in a better position to make a move. For those looking at condos and townhouses in neighborhoods like New Westminster or Coquitlam, this could be an opportune time to take advantage of lower rates.
Potential for Price Growth
With more buyers entering the market, competition for well-located and desirable properties could increase. This may lead to modest price growth in key areas, particularly for single-family homes and townhouses in sought-after neighborhoods like Burnaby North or Vancouver East.
Investment Opportunities
Investors may see this as a chance to secure properties with lower financing costs. With the Bank of Canada signaling the potential for further rate cuts in the months ahead, this could create favorable conditions for those looking to invest in Greater Vancouver real estate.
Challenges to Watch
While today’s announcement is positive for buyers, economic uncertainty remains, particularly around potential U.S. tariffs on Canadian goods. A significant trade conflict could dampen Canada’s economic growth and indirectly affect the housing market.

Practical Insights for Buyers and Sellers

For Buyers:

Lock in Financing: If you’re considering a purchase, now is an excellent time to review your mortgage options. Variable-rate mortgages could see lower payments, but consult with your lender or broker to explore what’s best for your financial situation.
Plan Ahead for the Spring Market: With increased demand expected, act early to secure the property that best fits your needs.

For Sellers:

Prepare Your Home for Market: With demand set to rise, make sure your property is ready to stand out. Focus on curb appeal, staging, and pricing your home competitively.
Capitalize on Timing: Listing during the spring market could maximize exposure to motivated buyers.

Our Take

The Bank of Canada’s latest rate cut will likely inject energy into the Greater Vancouver real estate market. Lower borrowing costs combined with the seasonal momentum of spring create a favorable environment for both buyers and sellers. Whether you’re looking to purchase a condo in Burnaby, sell a townhouse in New Westminster, or explore investment opportunities in the Tri-Cities, staying informed and proactive is key.

As always, we’re here to help you navigate the evolving market with personalized advice and expert guidance.

Just Sold: Stunning Corner Unit Condo in Klahanie, Port Moody

Fri, 24 Jan 2025 20:07:00 GMT

Congratulations to my clients on securing a one-of-a-kind 3-bedroom condo at 205 701 Klahanie Drive, Port Moody! This rare raised ground-floor corner unit offers an incredible blend of modern elegance and outdoor charm, making it the perfect home in one of the most sought-after communities.

With thoughtful upgrades, resort-style amenities, and an unbeatable location, this home was a competitive find in a high-demand market. Here’s how we navigated the journey to a successful purchase!

Property Highlights: A Stylish & Rare Find in Klahanie

MLS #: R2946581
Property Type: Condo
Bedrooms: 3
Bathrooms: 2
Sales-to-Active Ratio: 26.60% (A strong seller’s market!)
School Catchment:
- Elementary: Moody Elementary
- Middle: Moody Middle
- Secondary: Gleneagle Secondary

Navigating Challenges: How We Secured This Home in a Competitive Market

With a 26.60% sales-to-active ratio, Port Moody’s condo market is moving fast—meaning we needed a clear strategy to secure this property.

✅ Overcoming Market Competition

Positioned the offer strategically to stand out in multiple offers.
Leveraged our market knowledge to determine fair market value while securing favorable terms.

✅ Ensuring Long-Term Value

Carefully reviewed the building’s maintenance history and strata documents to ensure a sound investment.
Factored in future maintenance costs and potential appreciation in this high-demand neighborhood.

✅ A Seamless Buying Experience

Provided clear guidance throughout the process, making it smooth and stress-free for my clients.
Ensured timely negotiations to lock in the best deal in a fast-moving market.

Why Klahanie? A Prime Location in Port Moody

Located in the heart of Port Moody, Klahanie is a highly sought-after community offering the perfect mix of urban convenience and nature.

🌿 Parks & Outdoor Spaces

Rocky Point Park – A waterfront gem with walking trails, a pier, and scenic picnic spots.
Shoreline Trail – A stunning oceanfront path for jogging and cycling.
Brewery Row – A favorite for craft beer lovers, featuring some of Metro Vancouver’s top breweries.

🏫 Top Schools Nearby

Moody Elementary – A nurturing and community-driven school.
Moody Middle – Offers inquiry-based learning and French immersion programs.
Gleneagle Secondary – One of the top-ranked high schools in the region.

🛍️ Shopping & Transit Access

Suter Brook Village & Newport Village – A variety of shops, cafés, and local businesses just steps away.
SkyTrain Access – Moody Centre Station offers quick access to Downtown Vancouver via the Evergreen Line.
Port Moody Recreation Complex – Fitness center, pools, and sports facilities nearby.

A Dream Home for My Clients

For my clients, this wasn’t just about buying a condo—it was about securing a home that fits their lifestyle and future goals. With patience, strategy, and the right guidance, we found the perfect place in Klahanie, and I couldn’t be happier for them!

Thinking of Buying or Selling? Let’s Make It Happen!

🏡 Port Moody real estate is competitive, but with the right strategy, you can secure your dream home or maximize your home sale.

📩 Contact us today to learn how we can help you achieve top results in your next move!

Just Listed: Discover 8464 15th Avenue, Burnaby East

Mon, 20 Jan 2025 09:02:00 GMT

Are you ready to explore a charming haven in one of Burnaby East’s most sought-after neighborhoods? The property at 8464 15th Avenue is more than just a house—it’s a harmonious blend of classic charm and modern convenience. Let me, Adam Goss, your trusted real estate advisor, introduce you to this captivating residence that might just be your perfect match.

Welcome Home

From the moment you arrive, the soft blue exterior of this two-story home catches your eye, radiating warmth and inviting you to step inside. White trim accents and a steeply pitched gable roof add a touch of character, creating a timeless curb appeal. But this is just the beginning—inside, the home is just as enchanting.

Spacious and Thoughtfully Designed

As you step inside, you’ll find a layout designed for both comfort and function. With over 2,581 square feet of living space, there’s plenty of room to grow, entertain, and make lasting memories. Wide rectangular windows flood the home with natural light, creating a bright and cheerful atmosphere.

On the main floor, two bedrooms provide cozy retreats, while the upper level offers a private sanctuary. Here, vaulted ceilings and oversized windows frame breathtaking views of the North Shore Mountains, making it the ideal space to relax and recharge.

Endless Possibilities

One of this property’s standout features is its expansive 6,615 square foot lot. With zoning that allows for the development of up to four units, this home is an exciting opportunity for investors or families with big dreams. Whether you envision a lush garden, a play area, or plans for future expansion, the possibilities are endless.

Outdoor Living at Its Best

The outdoor spaces at 8464 15th Avenue are designed for enjoyment. A sunny patio and deck offer the perfect setting for summer BBQs, family gatherings, or quiet mornings with coffee in hand. The backyard is a private oasis, surrounded by tall trees and meticulously landscaped with shrubs and rockery that add vibrant touches of color and charm.

A Neighborhood That Feels Like Home

This property isn’t just about the home—it’s about the lifestyle. Located in a family-friendly community, you’ll enjoy quiet streets and a welcoming atmosphere. Just a short stroll away, Robert Burnaby Park offers extensive trails, sports facilities, and picnic spots.

For families, education is a key advantage. The home falls within the catchment of top-rated schools, including Armstrong Elementary and Cariboo Hill Secondary, with additional options like St. Michael's School and John Knox Christian School nearby.

Convenient Living

Living here means you’re connected to everything you need. With easy access to Highway 1 and public transit, commuting is effortless. Shopping is a breeze with nearby centers like Crest Plaza, Royal Square Mall, and the 6th Street Shopping District. Whether you’re heading downtown or exploring the Tri-Cities, convenience is always close at hand.

Ready to Start Your Next Chapter?

Whether you’re looking for a family home or an investment opportunity, 8464 15th Avenue offers unmatched charm, comfort, and potential. As your dedicated real estate advisor, I’m here to guide you every step of the way, ensuring your needs are met and your dreams realized.

For more information or to schedule a private viewing, don’t hesitate to reach out:

Adam Goss
Mobile: 604-644-6650
Email: adam@adamgoss.ca
Website: www.adamgoss.ca
Office: 4806 Main Street, Vancouver, BC
Office Phone: 604-678-3333

Let’s make your real estate aspirations a reality.

Open House on Saturday, January 25, 2025 2:00PM - 4:00PM

Mon, 20 Jan 2025 09:02:00 GMT

Please visit our Open House at 8464 15TH AVE in Burnaby.

Open House on Saturday, January 25, 2025 2:00PM - 4:00PM

Welcome Home

Spacious and Thoughtfully Designed

Endless Possibilities

Outdoor Living at Its Best

A Neighborhood That Feels Like Home

Convenient Living

Ready to Start Your Next Chapter?

For more information or to schedule a private viewing, don’t hesitate to reach out:

Adam Goss
Mobile: 604-644-6650
Email: adam@adamgoss.ca
Website: www.adamgoss.ca
Office: 4806 Main Street, Vancouver, BC
Office Phone: 604-678-3333

Let’s make your real estate aspirations a reality.

2025 Greater Vancouver Real Estate Market Forecast: Key Insights for Buyers, Sellers, and Investors

Wed, 08 Jan 2025 19:17:41 GMT

As we move into 2025, the Greater Vancouver real estate market is set for a notable shift, with experts forecasting a resurgence driven by declining interest rates, increased affordability, and pent-up demand. However, this optimistic outlook is tempered by potential challenges, such as economic uncertainties and supply constraints. Here’s a detailed review of what you can expect in the year ahead.

Anticipated Price Growth: What the Numbers Say

Predictions for 2025 suggest steady price growth across various property types:

Royal LePage: A 4% year-over-year increase in aggregate home prices, with detached homes rising to $1.77 million (+2%) and condos reaching $795,000 (+4.5%).
Re/Max Canada: A more bullish outlook, forecasting a 7% price growth across Greater Vancouver.
BC Real Estate Association: A more moderate projection of "average long-run price growth," signaling cautious optimism.

While price increases are expected, the rate of growth will vary depending on market dynamics, making it crucial for buyers and sellers to keep an eye on local trends.

Sales Activity: A Surge in Demand

Greater Vancouver is expected to see a significant rebound in sales volume:

Re/Max Canada projects a 20% surge in sales, driven by pent-up buyer demand.
Recent November 2024 data already shows a 28% year-over-year increase in home sales, suggesting strong momentum heading into 2025.

Sales activity is expected to be particularly robust in entry-level single-family homes, which often appeal to first-time buyers and those looking to upsize from condos or townhouses.

Market Dynamics: From Balanced to Seller’s Market

The consensus among analysts is that 2025 will witness a shift toward a seller’s market:

Re/Max Canada predicts strong competition, with demand from first-time and move-up buyers outpacing supply.
Royal LePage expects multiple-offer scenarios to become common as demand outstrips supply.
Conversely, the BC Real Estate Association forecasts a more balanced market, providing opportunities for both buyers and sellers.

This divergence of opinion underscores the importance of understanding micro-level market trends, as specific property types (e.g., entry-level townhouses) may experience unique dynamics.

Key Drivers of Market Change

Several factors are fueling this anticipated market resurgence:

1. Declining Interest Rates

The Bank of Canada’s downward trend in interest rates is a significant catalyst, reducing mortgage costs and improving affordability.

2. Pent-Up Demand

After years of high interest rates and market volatility, sidelined buyers are expected to return, boosting sales activity and prices.

3. Government Policies

Regulatory changes, such as extended amortization periods for first-time buyers, aim to enhance affordability. However, critics argue these measures fail to address underlying supply shortages.

Potential Challenges to Watch

While the outlook is generally positive, several challenges could temper market growth:

1. US Economic Policies

Uncertainty surrounding US trade policies, including potential tariffs on Canadian goods, could impact economic growth and housing demand.

2. Recessionary Risks

Canada faces potential economic headwinds, including a possible recession, which could lead to job losses and reduced consumer confidence.

3. Supply Constraints

Greater Vancouver continues to struggle with housing supply shortages, particularly in the single-family home segment, exacerbating upward pressure on prices.

Investor Sentiment: Shifting Landscape

Investor activity in the condo market may remain subdued in 2025:

Declining rents and record levels of condo supply under construction are deterring new investments.
Population growth, a key driver of rental demand, remains stagnant, further dampening investor confidence.

This could lead to price corrections in the condo segment, presenting opportunities for buyers seeking long-term value.

Opportunities for Buyers, Sellers, and Investors

For Buyers: The forecasted decline in interest rates and a surge in inventory for certain segments, such as condos, may create favorable conditions for entering the market.

For Sellers: A potential shift to a seller’s market presents opportunities to achieve competitive prices, particularly for properties in high-demand categories like entry-level single-family homes.

For Investors: While the condo market may face challenges, savvy investors can explore opportunities in underperforming segments or focus on long-term appreciation in high-demand areas.

Final Thoughts: A Dynamic Year Ahead

The 2025 Greater Vancouver real estate market offers a complex but promising landscape. Whether you’re planning to buy, sell, or invest, understanding key drivers, challenges, and localized trends will be essential for making informed decisions.

Ready to navigate the 2025 market? Contact us for personalized advice and insights tailored to your goals.

Understanding the 2025 BC Property Tax Assessments: Key Insights for Homeowners

Mon, 06 Jan 2025 20:30:00 GMT

As of January 2025, BC Assessment has released updated property values for over 2.2 million properties across British Columbia. These assessments, based on market value as of July 1, 2024, play a critical role in determining property taxes and offer insights into the region’s real estate trends. Here’s everything you need to know about the 2025 property tax assessments and how they might impact you.

What Are BC Property Assessments?

BC property assessments estimate a property’s market value as of July 1 each year, reflecting its physical condition as of October 31. These assessments ensure fairness and equity in the property tax system.

Key factors influencing assessments include:

Recent sales in your area.
Property characteristics like size, age, quality, and location.

While assessments provide a snapshot of property value, it’s important to note that property tax rates are set by local governments in the spring and may vary based on budget needs.

Where Can You Find Your 2025 Property Assessment?

Homeowners can access their assessments online at bcassessment.ca. Paper notices are also being mailed, with most homeowners expected to receive theirs by the end of January 2025.

Lower Mainland Market Trends

For 2025, the overall housing market in the Lower Mainland has shown continued stabilization. Here’s a summary of key trends:

Stable Values: Most residential properties saw modest changes in assessed values, ranging between -5% and +5%.
Regional Total: The overall assessed value of properties increased slightly from $2 trillion in 2024 to $2.01 trillion.
New Development: Nearly $27 billion of assessments stemmed from new construction, rezoning, and subdivisions.

Local Assessment Highlights

Here’s how assessments changed in key Metro Vancouver areas for 2025:

Single-Family Homes

Burnaby: +4% ($1,973,000 to $2,044,000)
Coquitlam: +1% ($1,722,000 to $1,738,000)
New Westminster: +1% ($1,567,000 to $1,590,000)
Vancouver: 0% ($2,209,000 to $2,206,000)
Surrey: -3% ($1,608,000 to $1,563,000)
Richmond: +1% ($1,874,000 to $1,890,000)

Strata Properties (Condos and Townhouses)

Burnaby: 0% ($731,000 to $732,000)
Port Coquitlam: +2% ($669,000 to $680,000)
Port Moody: +2% ($826,000 to $841,000)
Surrey: -2% ($710,000 to $696,000)

How Do Assessments Impact Property Taxes?

A common misconception is that an increase in assessed value directly results in higher property taxes. However, this is only true if your property’s value increases more than the average change in your community. Local governments determine tax rates based on budget needs, so your tax bill might not change even if your assessed value does.

What if You Disagree with Your Assessment?

If you believe your assessment doesn’t accurately reflect your property’s market value, BC Assessment provides options for review:

Initial Inquiry: Contact a BC Assessment appraiser to discuss your concerns.
Formal Appeal: File a Notice of Complaint by January 31, 2025, for a review by the independent Property Assessment Review Panel.

Key Takeaways for Homeowners

Market Value ≠ Sale Price: Assessed values are a helpful reference but may not reflect the exact price your home could sell for today.
Stay Informed: Use tools on bcassessment.ca to compare your assessment with similar properties and track market trends.

For more personalized advice or to understand how your assessment might impact your buying or selling strategy, contact us today! Whether you’re considering listing your home or exploring new investment opportunities, we’re here to guide you.