Will the new year bring softer prices and slower sales for housing in the Lower Mainland? December always brings out the crystal ball to predict the next year’s real estate market performance. So, if we make it through December (assuming the Mayans were wrong), here is what I’ve cobbled together for a 2013 outlook.
Buying condos to rent isn’t always the road to riches. In fact, it can lead to near ruin. Ever wonder about those long lines at new condo development sales offices, or curious as to how condo developments can be sold out within hours? Most of us have. One clue is that more than half the buyers are wearing suits and seem to spend all their time chatting furiously into their smartphones.
Business can be much more fascinating than the dry numbers and deals that often dominate the business pages. This is especially so in the “Village of Vancouver,” where networks are so important (and entrenched). Yesterday there was an announcement that Sotheby’s International Realty Canada has been acquired by 360 VOX Corp., which is 24-per-cent owned by Ned Goodman, the chief executive of Dundee Capital Markets Inc. and a legendary investor in Toronto.
Chinese investors have fled the real-estate market, but they’ll be back. Mainland Chinese investor buyers have all but disappeared from Vancouver’s real-estate marketplace, and their unexpected departure has left many developers, real-estate agents and construction trades with postponed plans and shelved strategies. The sudden absence of the once-omnipresent Chinese investor has also meant no media photo ops of buyer lineups and a softening market in metro Vancouver.
Don’t get caught up in the online jabber and sensational headlines about the real estate bubble. I must admit I love Twitter. I have asked for help and offered help. I have received immediate feedback, had a few thousand laughs and met some really interesting people. But what I get the most out of Twitter is real-time information. I don’t click through all of the tweets I read, but often I am drawn to the more provocative tags. Unfortunately, one that...
Soft-spoken and respectful, Ted Pickell has overseen some of the most aggressive and ambitious construction projects in B.C. Pickell’s father, Bill, launched Pickell Construction Ltd. in Fort St. John in 1953, when Pickell was 12. He always wanted to be...
The new Canadian Mortgage and Housing Corporation report for the third quarter outlined renovations as a key item. The average consumer renovates within three years of purchasing a home with the major work (and expenses) completed in the first year.