Moody’s Investor Services, one of the largest credit ratings agencies in the world, has just upgraded the City of Vancouver’s “Triple A” credit rating to “Stable” from the earlier negative rating which it had since January 2009.

The upward rating revision was prompted by Moody’s view of the city’s declining risk exposure of its financing of the Olympic Village development for the 2010 Vancouver Winter Olympic Games, as debt levels are lowered from recent sales proceeds of the condominium units.

“While debt has increased related to financing for the Olympic Village construction, the construction of the entire project has been completed. As of May 2011, 544 units out of a total 856 market units had been sold or rented out. Thus, while risks remain regarding the value and timing of proceeds of the remaining units and transferred properties, we believe that Vancouver’s debt burden will continue to decline over the next few years,” said Jennifer Wong, lead analyst for the City of Vancouver.

In a press release today, Moody’s stated:

The city’s debt levels, which had increased significantly with the financing related to the Olympic Village development, have stabilized and reduced over the past six months and are expected to continue to decline. Net direct and indirect debt declined to roughly 98% of operating revenues at December 31, 2010 from 107% in at December 31, 2009. Prior to the Olympic Village financing, Vancouver’s debt levels were relatively low at 41% of operating revenues at December 31, 2008 and cash and investments relative to net debt was high.

The city’s liquidity has also improved. Cash and investments have since increased to C$617 million at December 31, 2010 from C$501 million at December 31, 2009.

“The City of Vancouver has historically recorded strong operating results, in the order of roughly 14% of operating revenues in recent years, and has generated positive cash financing surpluses,” added Wong. The revenue base of Vancouver is predictable and stable, which provides a flowing stream of revenue to finance expenditures.

The troubled Olympic Village development in Vancouver was put into receivership on Wednesday November 17, 2010 as the city and Ernst & Young assumed control of the $1-billion waterfront project that hosted athletes during the 2010 Vancouver Winter Olympic Games. At the time, city officials said that they were still owed over $758 million from financing of the failed Olympic Village project by the developer, Millennium Development Corp.

In a mid-May 2011 report, the receiver Ernst & Young said, “Occupancy and sales at Vancouver’s former Olympic village are exceeding expectations. More than 60% of the residential units at the site, now called the Village on False Creek, are occupied.” The report went on to say that “given the strong sales and rental activity now underway,” it is estimated that occupancy will reach 70% by July 31.

“To have our city’s credit outlook upgraded shows that our work to stabilize and promote the Olympic Village neighbourhood is paying off,” said Vancouver Mayor Gregor Robertson in a city press release.

“As sales and rentals in the Village continue, the City receives more revenue and our financial risk and debt level decrease.”

We are back with another edition of the Vancouver Real Estate Reel, which contains a summary of articles published by BuyRIC.com in the month of March 2011.

Bank of Canada Keeps Interest Rates Unchanged March 1, 2011

By Kris Cyganiak – March 1, 2011

With tighter Canadian mortgage standards introduction dates looming on March 18, 2011 and April 18, 2011, the Bank of Canada today announced that it would leave its benchmark overnight interest rate unchanged at 1.0%.

This was the forth-consecutive decision to hold rates steady, following similar moves on January 18, 2011, December 7th, 2010 and October 19, 2010.

Economists were not expecting the BOC to change interest rates today. A recent pole by Reuters last week found that “most analysts predicted the bank would resume rate hikes in the first half of the year, with May 31 being the most likely date for the next move.”

To read more of this News article, click here.

Start Preparing your Greater Vancouver Home for Sale

By Andrea Jauck – March 1, 2011

The ultimate decision to purchase a home is often driven by a mixture of sensibility, rationality and emotion.

Lifestyle, location, size, type and price all factor into the emotional response that often prompt a buyer to proceed with a purchase.

The same can be said for someone selling their home, which is why a realtor like myself can help you through the process.

To read more of this Realtors article, click here.

Top Two Questions Answered about 2011 Canadian Mortgage Changes

By Mark Fidgett – March 2, 2011

The government of Canada announced new mortgage rules in mid-January that will take effect on March 18th and April 18th, 2011.

The overall rule changes cover three areas:

A) Maximum Amortization Period to 30 Years

The Amortization is the time it takes to pay off your entire mortgage. Not to be confused with the term of your mortgage. Typical mortgages in Canada have terms of five years or less during which a specific fixed or variable interest rate will apply, and the mortgage can be renewed at the end of the term.

Today’s news will reduce the maximum amortization period from 35 years to 30 years.

A lower amortization period results in an increase in the monthly payment, hence making it harder to qualify.

To read more of this Mortgages article, click here.

British Columbia Benefits from 4.0% Visitor Increase in 2010

By Kris Cyganiak – March 2, 2011

British Columbia continues to build on the momentum and afterglow of the Vancouver 2010 Olympic Winter Games.

Statistics Canada figures show that total international overnight visitor arrivals in British Columbia increased by 4.0% to 4,271,422 in 2010 compared to 4,105,613 in 2009. This almost doubled the 2.3% rise for Canada as a whole.

British Columbia is one of the most important international entry points for Canada as almost one in four (25%) international visitors to Canada entered the country through BC in 2010.

To read more of this News article, click here.

Marcraft Homes – Greater Vancouver Luxury Custom Home Builder

By BuyRIC.com – March 2, 2011

Marcraft Homes is a family-owned business in the Lower Mainland, building quality residential homes.

With its extensive experience in building custom-designed homes, it has established itself as a standard of homing building pride and excellence.

The customer’s individual needs and wishes are Marcraft’s top priority, and influence the home building process from the initial design and financial planning, to construction and follow-up service.

To read more of this Profile, click here.

Greater Vancouver Real Estate Sales Red Hot 70.26% Increase Feb 2011

By Kris Cyganiak – March 3, 2011

Greater Vancouver residential housing market sales increased by a blistering 70.26% in February 2011 with 3,097 units sold compared to the 1,819 in January 2011.

February’s Greater Vancouver MLS sales of 3,097 units were the highest level of sales achieved in the past ten month’s since April 2010′s 3,512 unit sales. It was also substantially higher than the 2,742 February home-sale average recorded in the region over the last ten years and 25.23% up from the 2,473 sales recorded in February 2010. This was also a 109.3% increase from the 1,903 homes sold in February 2009.

“We saw an increase in demand across our region last month as more buyers entered the market in advance of the spring season,” said Jake Moldowan, President of the Real Estate Board of Greater Vancouver (REBGV).

To read more of this News article, click here.

Lower Mainland BC Real Estate Market February 2011 Bidding Frenzy

By Kris Cyganiak – March 4, 2011

The lower mainland British Columbia real estate market erupted with increased sales volumes across the region in February 2011.

One of the factors in the sales spike is certainly the rush to purchase properties prior to the upcoming changes in Canadian mortgage rules coming into effect on March 18, 2011. However, this is not entirely the same case across the region.

Home sales in the Fraser Valley surged up by 53.36% in February hitting 1,279 units, the highest level in the past eight months.

To read more of this News article, click here.

Vancouver Real Estate Multiple Offer Bidding Presentation Play-by-Play

By Adam Goss – March 4, 2011

Multiple offers, or bidding wars as the situation is more commonly referred to, are again becoming more and more common in the Greater Vancouver real estate market in early 2011.

I thought it a good time to provide a little insight on the topic.

Preparing for this post I felt that there are simply too many points to cover and stories that should be included to take just one angle on this topic. With that said, let’s make this post #1 in a series on Multiple Offers.

To read more of this Realtors article, click here.

Two Strategies and 5 Reno’s that Increase Vancouver Home Values

By Mark Fidgett – March 7, 2011

How do I increase the value of my home?

That’s the question on every homeowners mind. There are two key strategies to accomplish this.

The first is to think long term and hold onto the property allowing your equity in it to buildup over time. History has shown that this strategy has worked extremely well for most Canadian homeowners.

The second tactic is to outperform the market by ensuring that your property increases in value at a greater rate than those in your surrounding area.

To read more of this Blog article, click here.

Mistakes with Clauses and Legal Aspects of Vancouver Real Estate

By Andrea Jauck – March 7, 2011

It seems like there are literally a million details connected to the process of buying or selling a home in Vancouver.

These can be very complex, intricate and time consuming. If done incorrectly at any stage, it could potentially cost a lot of money and hardship in the long run.

This is why it is important to not only educate yourself on these matters, but to also seek the professional advice and help of a realtor such as myself

This is where I as a realtor, will help you with all the paperwork and legalities involved in the process of completing a proper real estate transaction.

To read more of this Realtors article, click here.

Deadline to Beat New Canadian Mortgage Rules Midnight March 17, 2011

By Robert Mogensen – March 8, 2011

At midnight, March 17, 2011, Canadians will no longer be able to qualify for CMHC High Ratio Insured Mortgages with a 35-Year Amortization.

Effective on March 18th, 2011, Canadians with less than 20% down payment will have to qualify for their CMHC Insured Mortgages with a maximum 30-Year Amortization.

Since Finance Minister Jim Flaherty announced new Canadian mortgage rules that will be used in an effort to “protect the stability of the economy”, we have seen a bit of a buying frenzy in the “First-Time Buyer” category in parts of Greater Vancouver, before the new rules kick in.

The Terraces by Marcraft Homes – Ridgewood Estates – Anmore, BC

By BuyRIC.com – March 10, 2011

Perched high on a one-acre home site in the magnificent mountain setting of Ridgewood Estates in Anmore, BC, you will find Marcraft Homes’ latest creation – “The Terraces.”

This remarkable true West Coast Contemporary Anmore Home features modern elegance with a combination of fir posts and beam timber design, along with sleek contemporary finishings.

The gourmet kitchen and a chef’s delight offers top of the line Subzero and Wolf appliances, a martini bar with a built in Ariston coffee maker, large center granite island, and beautiful custom designed maple cabinetry.

Just off the kitchen, find the intimate dining area with a two-way fireplace and double French doors leading to the wrap around deck for enjoyment of evening gatherings.

To read more of this Profile, click here.

First Geo Hot Rod Install in North America at Marcraft Homes in Coquitlam

By Kris Cyganiak – March 11, 2011

Coquitlam Mayor Richard Stewart was on hand for the unveiling of the first residential geothermal “Geo Hot Rod” snow and ice melt system installation in North America on March 9, 2011 at the Marcraft Homes Copper Beech Estates development on Burke Mountain in Coquitlam, BC.

“The Geo Hot Rod system being installed at this Coquitlam home is a simple technology that utilizes a superconductor to transfer the Earth’s geothermal heat to the surface of the homes driveway clear of snow and ice,” said Glen Bereti, of HVAC Systems.

Andrea Jauck, Director of Sales and Marketing, Matthew Jauck, Project Coordinator and David Harkison, Director of Construction for Marcraft Homes were on-site as the mayor viewed a presentation from HVAC Systems, the distributor of the Geo Hot Rod system.

“This geothermal system being installed at this Marcraft home is a green initiative, which eliminates consumption of non-renewable fossil fuels used by alternative snow-melt systems,” said Andrea Jauck.

To read more of this Build article, click here.

Vancouver Housing Starts Increase by 0.9% February 2011

By Kris Cyganiak – March 11, 2011

There were 1,414 Housing starts in the Vancouver Census Metropolitan Area (CMA) in February 2011, which brought the total housing starts for the area up by 23% to 2,850 units in 2011 compared to 2,319 in 2010 according to figures released by CMHC.

February’s 1,414 housing starts across the Vancouver CMA represented a modest 0.9% increase from the 1,402 starts in January 2011.

“Over 85% of housing starts were multi-family in February,” noted Robyn Adamache, CMHC’s Senior Market Analyst.

To read more of this News article, click here.

Grouse Mountain – Vancouver’s Year Round Natural Playground

By Kylee Szabo – March 11, 2011

With great snowboarding and skiing in the winter season, it’s a great time to start thinking about what else Vancouver’s beautiful mountains have to offer.

Grouse Mountain is a great place for everyone with all sorts of activities throughout the year. It is one a Vancouver’s premier year-round attractions.

From your own “Sno-Limo” Chauffeur in the winter to the Grouse Grind in the summer, Grouse Mountain has something to do for everyone at every time of the year.

The Grouse Grind is a steep trail that climbs 2,799 feet over a distance of 2.9 kilometres, which can be enjoyed during the warmer months of the year.

To read more of this Lifestyle article, click here.

Video in Coquitlam, BC of the First Geo Hot Rod Install in North America

By Marcus Cyganiak – March 12, 2011

On March 9, 2011, the very first installation of the residential geothermal “Geo Hot Rod” snow and ice melt system in North America took place at the Copper Beech Estates development by Marcraft Homes on Burke Mountain in Coquitlam, BC.

“The Geo Hot Rod system being installed at this Coquitlam home is a simple technology that utilizes a superconductor to transfer the Earth’s geothermal heat to the surface of the homes driveway clear of snow and ice,” said Glen Bereti, of HVAC Systems.

Below is an exclusive BuyRIC.com video taking a look at the unveiling and installation process of the Geo Hot Rod system on March 9, 2011, which saw Coquitlam Mayor Richard Stewart on hand.

To read more of this Build article, click here.

British Columbia Home Sales Increase 54.94% February 2011

By Kris Cyganiak – March 14, 2011

British Columbia MLS residential home sales increased by 54.94% to 6,410 units in February 2011 from 4,137 units in January 2011 on an actual month-over-month basis according to figures released today by the British Columbia Real Estate Association (BCREA).

The BCREA report indicated that while residential sales in the province climbed 5% on a seasonally adjusted basis in February from January 2011, the 6,410 February sales also represented a 7.6% actual increase over the same month last year when there were 5,955 sales in February 2010.

The residential MLS sales of 6,410 units in February 2011 represents the highest level of provincial home sales over the past eight months since June 2010 when there were 7,722 units sold in British Columbia.

“The surge in consumer demand in Metro Vancouver continues to propel the provincial statistics higher,” said Cameron Muir, BCREA Chief Economist.

To read more of this News article, click here.

Canadian 1-Year and 5-Year Mortgage Rate Forecast for 2011-2012

By Kris Cyganiak – March 14, 2011

Canadian 1-year fixed mortgage rates could increase to 4.35% by end of 2011 and rise further to 5.40% by the end of next year according to a recent BCREA report that also forecasts that 5-year mortgage rates could end 2011 at 5.90% and increase further to 6.55% by the end of 2012

The British Columbia Real Estate Association (BCREA) Mortgage Rate Forecast report released in March 2011 indicates that, “Mortgage rates have thus far evolved in-line with our December 2010 forecast, with the 5-year fixed rate reaching 5.44% and the 1-year rate hitting 3.50% in mid–February.”

Citing improved economic outlook that is putting upward pressure on rates, the report states that recent geo-political risk has threatened recent optimism but mortgage rates will slowly get back to “normal” which will lead to higher rates in 2011 and 2012.

To read more of this News article, click here.

Marcraft Homes – Luxury Custom Home Builder – Gallery

By BuyRIC.com – March 16, 2011

BuyRIC.com Gallery of Marcraft Homes – Luxury Custom Home Builder out the Great Vancouver, Tri-Cities, and Anmore areas!

To view this Gallery, click here.

The Terraces by Marcraft Homes – Anmore, BC – Gallery 1

By BuyRIC.com – March 16, 2011

Introducing Gallery 1 of The Terraces by Marcraft Homes at 1084 Uplands Drive in Anmore, BC!

Surrounded by majestic mountains, pure lakes and natural beauty, Anmore, BC is your private oasis just minutes from the city. Take advantage of everything that Port Moody, known as “City of the Arts,” and Coquitlam, have to offer.

To view this Gallery, click here.

The Day After Tomorrow – Canada’s New Mortgage Rules March 18, 2011

By Kris Cyganiak – March 16, 2011

Canadian Minister of Finance, Jim Flaherty announced new mortgage rules for Canadians on January 17, 2011 that would start being implemented on March 18, 2011.

The federal government announced that Canadian mortgage insurance rules would be tightened because of concerns about rising household debt in the current low interest rate environment, placing consumers at significant financial risk once rates inevitably rise.

“Canada’s well-regulated housing sector has been an important strength that allowed us to avoid the mistakes of other countries and helped protect us from the worst of the recent global recession,” said Minister Flaherty.

To read more of this News article, click here.

Prepare the Bathroom to Sell Your Vancouver Home for Top Dollar

By Mark Fidgett – March 17, 2011

When you list your home for sale, it’s best to consider it less of your home and more of a show home.

The bathroom truly falls into this category.

When buyer’s walk through your home, the last thing they want to see is your personal hygiene items, moldy remnants of steamy showers or a soap scum-covered collection of empty shampoo bottles. You’re much better off showing a well maintained and sanitized room.

To read more of this Blog article, click here.

What is the Most Important Part of the Mortgage Process in Vancouver?

By Mark Fidgett – March 17, 2011

What’s the most important part of the mortgage process?

Bar none without hesitation the most important part of the mortgage process, is credit. If you don’t have income, no problem, we have options – we can add a guarantor or co-borrower.

If you don’t have a down payment, no problem, we have options – we can use RRSPs, we can borrow the down payment, we can get you approved for a zero down, but if you don’t have credit, you’re hooped.

To read more of this Mortgages article, click here.

Variety Lottery Show Home Comes to Anmore, BC in March 2011

By Kris Cyganiak – March 18, 2011

Variety has chosen an unexpected hidden gem of a location for their grand prize show home in their 6th annual Variety – The Children’s Charity Lottery. The grand prize package worth over $2 million includes a 6,000 sq. ft. prize home in prestigious, Anmore, BC.

Variety – The Children’s Charity holds two lotteries per year, a spring edition and a fall edition. They raise funds and distribute grants throughout British Columbia to inspire hope, enrich lives, and build a better future for children who have special needs.

Variety’s lotteries started back in 2000. From the fall of 2002 to the spring of 2005, all of Variety’s lottery grand prize show homes were located in Port Moody within the Heritage Mountain community, only minutes away from Anmore.

In the spring of 2006, one of Variety’s other prize homes was also located on Panorama Drive in Port Moody. From the fall of 2006 to the fall 2010, all of Variety’s showhomes were located within South Surrey.

To read more of this Lifestyle article, click here.

BC Building Code Requires High Efficiency Plumbing October 3, 2011

By Kris Cyganiak – March 21, 2011

New British Columbia Building code requirements for high-efficiency plumbing fixtures come into effect on October 3, 2011.

Under the new BC Building Code requirements, new residential buildings and renovations in British Columbia involving plumbing fixtures must install high-efficiency toilets (HET) with a 4.8-litre flush volume or dual-flush toilets. This will result in saving as much as 8,000 litres of water annually for a family of four.

What is a high-efficiency toilet (HET)?

A high-efficiency toilet (HET) is a toilet with a flush volume of 4.8 litres (1.28 gallons) or less. Dual-flush toilets are classified as HETs because the ratio of reduced flushes (up to 4.1 litres) to full flushes (up to 6 litres) results in an effective flush volume that is less than 4.8 litres.

To read more of this Build article, click here.

Canadian Economy Linked to Water Demand and Supply Conservation

By Kris Cyganiak – March 22, 2011

It is a well-known fact that Canada is a country rich in natural resources.

If asked, most people would answer that Canada’s top natural resource is oil, natural gas, coal, copper, gold, wood, grain, potash or any of the other resources Canada has in abundance. But, they would be missing the point.

Canada’s most valuable natural resource by far is freshwater.

To read more of this News article, click here.

Don’t Lose $50,000 with Mortgage Pre-Approval vs. Pre-Qualification

By Mark Fidgett – March 22, 2011

Imagine losing $50,000 or MORE on your Greater Vancouver home purchase…

That’s exactly what the caller in the video below stands to lose.

All because she didn’t know the difference between a Pre-Approval and a Pre-Qualification.

It’s a common story.

Client attends a showroom, likes what they see, writes an offer, gives a deposit and anticipates closing 2 years down the road.

To read more of this Mortgages article, click here.

Pricing to Sell Your Home in 3 Real Estate Market Conditions

By Andrea Jauck – March 22, 2011

Selling your home quickly and for top dollar is often determined by setting a realistic price for your home that reflects current market values and conditions.

Pricing your home properly will increase the chances of receiving an acceptable offer quickly in any part of Greater Vancouver and perhaps may even attract competing offers, which could result in a higher overall selling price.

Numerous studies have shown that a normal property has the best chance of getting sold for an acceptable price to the seller in the first seven weeks on the market. Pricing a property incorrectly or substantially over market value can result in it ultimately selling for less.

To read more of this Realtors article, click here.

British Columbia Household Facts About Domestic Home Water Usage

By Kris Cyganiak – March 22, 2011

British Columbia is getting serious about water use. The provincial government has outlined a target that 50% of new municipal water needs be acquired through conservation by 2020 and that water efficiency in BC be improved by 33% across the province by 2020.

British Columbia’s Water Act modernization plan is currently being developed and under review as a policy proposal for an expected implementation in 2012 as BC’s new Water Sustainability Act.

Canadians rank second only to the United States in terms of highest per capita water use in the developed world and have a general lack of awareness of the pressures placed on Canadian water supplies.

To read more of this Build article, click here.

WildPlay Element Parks – Active BC West Coast Fun and Adventure

By Kylee Szabo – March 23, 2011

What do Whistler, Nanaimo, Maple Ridge, and Victoria all have in common? Other than all being in the province of beautiful British Columbia, they are all home to WildPlay Element Parks.

The WildPlay Element Parks was first established in 2005 by Gord Ross and Tom Benson. They had a vision to expand and develop a full-service outdoor adventure destination on Vancouver Island.

WildPlay Element Parks purchased the former Bungy Zone in Nanaimo, Vancouver Island, in March 2006. The Nanaimo location also offers Monkido Classic, Monkido Buddy, Monkido Kids, King Swing, and Canyon Zip.

To read more of this Lifestyle article, click here.

Luxury West Coast Custom Home Design at its Best – Anmore, BC – Part 1

By Cristina Cyganiak – March 24, 2011

This stunning custom home in Anmore, BC built by Marcraft Homes is a testament to the best in west coast luxury home design. Set in a breathtaking terrain hugging location that uses the contours of the land, this home is the crown of The Terraces.

The ambiance of nature is reflected in the environment and transposed to the architectural design, which draws in the surrounding natural elements.

The landscape slopes away gently in front, allowing the spectacular view of the mountain vista to take presence.

The home draws a Whistler inspired theme with a higher pitched roof, pronounciated gables and fir beams in harmony with nature.

To read more of this Design article, click here.

Total British Columbia Housing Sales Forecast to Rise up to 15% by 2013

By Kris Cyganiak – March 24, 2011

Residential home sales in British Columbia are forecast to increase by about 7% in 2011 with additional increases in the following two years according to a new report from Credit 1.

While forecast reports from BCREA, CREA and CMHC are based on MLS sales data, the Credit 1 report released on March 2, 2011 is unique in that it measures total home sales including market arms-length residential transactions with both new and resale home transactions as determined by BC land title transfers.

According to the report, total home sales in British Columbia for 2009 were at 99,612 units, which then decreased by 11% to 89,136 units in 2010.

To read more of this News article, click here.

The Terraces by Marcraft Homes – Anmore, BC – Gallery 2

By BuyRIC.com – March 25, 2011

Featuring Gallery 2 of The Terraces by Marcraft Homes at 1084 Uplands Drive in Anmore, BC!

Surrounded by majestic mountains, pure lakes and natural beauty, Anmore, BC is your private oasis just minutes from the city. Take advantage of everything that Port Moody, known as “City of the Arts,” and Coquitlam, have to offer.

To view this Gallery, click here.

British Columbia Introduces Energy Efficient Light Bulb Standards 2011

By Marcus Cyganiak – March 28, 2011

Did you know that the British Columbia provincial government introduced new standards for energy efficient light bulbs in the 75-100W ranges on January 1, 2011?

It’s part of a new green initiative to increase BC homeowners lighting efficiency and conserve energy in British Columbia.

This is one of the ongoing measures put forward by the provincial government to enable increased energy efficiency in British Columbia. The BC government has mandated that 66% of BC Hydro’s incremental electricity needs in the province must be met through efficiency and conservation by 2020.

To read more of this Build article, click here.

British Columbia Earth Hour Power Consumption Savings Results 2010

By Marcus Cyganiak – March 28, 2011

This year, the world’s fifth annual “Earth Hour” took place in British Columbia on March 26, 2011 between 8:30pm to 9:30pm.

The annual global event is hosted by the World Wildlife Fund (WWF) to encourage individuals to fight against climate change by turning off their lights for 1 hour around the world during the event each year.

As we await BC Hydro to report on the 2011 electricity savings for this year’s Earth Hour on March 26th, let’s take a look at how British Columbia faired in 2010.

To read more of this News article, click here.

How to Win at Multiple Offer Situations without the Top Price in Vancouver

By Adam Goss – March 28, 2011

I presented a great, “clean”, offer this past month that marked the end of my perfect record at bat for buyers in multiple offer situations. As it turned out the home we “bid” on went a mere $50 000 over asking. Pretty crazy considering the price point on this one; not crazy considering home and neighbourhood.

Yes, it’s true of many cases that one buyer will simply overwhelm the competition. Especially when dealing with a detached home where a family will hunker down for the next decade.. justifies over paying a bit. BUT, I can tell you as fact that clients of mine have come out on top with less than top price. How that is possible and how to give yourself the best shot is what Id like to share with you.

In every case my clients scored a “win” their home search was well under way. These buyers knew what they wanted and knew it was a very desirable product. Therefore, we were on top of each and every new listing matching their criteria and took immediate action to view the home.

To read more of this Realtors article, click here.

2011 Earth Hour Results for British Columbia Almost Double Last Year

By Marcus Cyganiak – March 28, 2011

The results of the 2011 Earth Hour event show that British Columbian’s have definitely become more aware of power conservation.

This years participation in the world’s fifth annual “Earth Hour” which took place in British Columbia on March 26, 2011 between 8:30pm to 9:30pm resulted in almost twice the electricity savings as last year across the province.

BC Hydro which is onto its forth year of supporting the event in BC announced that British Columbian’s saved 117 megawatt hours of electricity and reduced the provincial electricity load by 1.8% during Earth Hour in 2011.

To read more of this News article, click here.

Mount Seymour – Winter Fun and Outdoor Summer Activities in Vancouver

By Kylee Szabo – March 30, 2011

As our local mountains transition from the winter to summer months, many people may wonder what the mountains around Vancouver have to offer in the changing seasons.

For over 70 years Mount Seymour has been the choice for outdoor enthusiasts in the lower mainland. A short and easy drive from Vancouver, the Mount Seymour experience is the epitome of the “West Coast” lifestyle.

The winter months have so much to offer on the mountain, with an average 1,000 cm / 393 inches of snow annually. All this snow can be enjoyed with the many winter activities that Seymour offers including ski and snowboarding lessons, tube and toboggan parks, and snowshoeing with of course a variety of lessons and levels from beginner to expert for everyone.

To read more of this Lifestyle article, click here.

BC Hydro 52.17% Rate Increase Over 5 Years 2011 to 2015 – Suspended

By Kris Cyganiak – March 30, 2011

The BC Utilities Commission has suspended BC Hydro’s much publicized 9.73% rate increase that was expected to come into effect on April 1, 2011, pending further review by the provincial government.

This was the first of several proposed BC Hydro rate hikes, which would have seen British Columbia residents facing a 52.17% cumulative increase over 5 years.

On March 1, 2011, BC Hydro filed its 2012 to 2014 revenue requirement application (RRA) with the BCUC that would have seen a residential electricity rate increase of 9.73% per year for each of it’s fiscal years of 2012, 2013 and 2014 and a estimated 6.95% increase for 2015.

To read more of this News article, click here.

New Homes vs. Substantially Reconstructed Homes in British Columbia

By Marcus Cyganiak – March 30, 2011

New homes built from the foundation up to the final finishing stages are not the only homes that are considered “new” in British Columbia. A “new home” can also be a newly reconstructed building, or more specifically – “substantially reconstructed” – according to the Homeowner Protection Act of BC.

The Homeowner Protection Act of BC is administered by the Homeowner Protection Office (HPO), which is a branch of BC Housing, a British Columbia provincial Crown agency under the Ministry of Energy and Mines.

A new home in British Columbia is defined as “a building, or portion of a building, that is newly constructed or being constructed and is intended for residential occupancy, and includes a home that is or is being substantially reconstructed,” according to the Homeowner Protection Act.

To read more of this Build article, click here.

Using QR Codes in Real Estate to Connect with Smartphones

By Marcus Cyganiak – March 31, 2011

With the Internet moving peoples’ lives at an ultra fast pace, we are now on the cusp of a “post PC era” for information delivery. Mobile devices such as smartphones and tablets allow unequaled mobility while browsing the internet, emailing, text messaging, instant messaging, or interacting via social media platforms.

Today information travels at a blistering pace. People want instant and immediate access to information and content. If your material or information is not readily available or quick to access, a potential customer will just pass it by and go to another source.

Information architects on the web understand this concept and its one of the reasons why the Internet is overtaking most other forms of media including printed newspapers and magazines.

To read more of this Tech article, click here.

Last month, we debuted the very first “Real Estate Reel” looking back at the Greater Vancouver real estate market in January 2011. Now at the beginning of March, BuyRIC.com is back with the second monthly Vancouver Real Estate Reel for February 2011, which contains a summary of articles published by BuyRIC.com in the month of February 2011.

New Terry Fox Memorial Part of BC Place Renovation in 2011

By Kylee Szabo – February 1, 2011

Not only is the new BC Place going to have a retractable roof after its current renovation and a possible casino but it will also have a new Terry Fox memorial replacing the existing one that has stood for 27 years at the entrance to BC Place.

Vancouver artist and author Douglas Coupland has agreed to create the new memorial with the support of the family and at the request of BC Pavilion Corporation, the operator of BC Place.

The new Terry Fox Memorial at BC Place will feature a series of four individual sculptures that together replicate the familiar running gait set by Terry Fox during his Marathon of Hope in 1980. Once completed, the new memorial will replace the existing Terry Fox Memorial in time for the reopening of BC Place this fall.

To read more of this Project News article, click here.

BC Assessment Appeal Secrets with Mark Fidgett

By Mark Fidgett – February 1, 2011

As you may or may not know, you have one chance to appeal your BC Property Assessment.

The deadline was midnight January 31, 2011.

There are two opinions to the new higher assessments. One side doesn’t mind the higher prices, because they feel it means their home is worth more. Then there’s the side that doesn’t like it, because with higher prices come higher taxes.

To read more of this Mortgages article, click here.

2010 Review of BC Housing Sales Results vs. Forecasts for BCREA, CMHC, CREA

By Kris Cyganiak – February 2, 2011

Throughout every year British Columbian’s can look forward to real estate sales forecasts from a number of Canadian sources that attempt to predict BC home sales in that current year as well as the following year. These are normally done on a quarterly basis throughout the year.

There are three primary sources for periodical Canadian housing sales forecasts including, the British Columbia Real Estate Association (BCREA), Canada Mortgage and Housing Corporation (CMHC), and the Canadian Real Estate Association (CREA). Other secondary sources include Canada’s major banks, large national real estate companies, and other independent bodies, however each one of these refers to the primary sources as their base for estimation.

The foundation of sales forecasts is always based on the previous years sales. In 2009, there were a total of 85,028 residential unit sales through the MLS system in BC, up 23% from the 68,923 units in 2008.

To read more of this News article, click here.

Bank of Canada Quarterly Interest Rate Forecast for 2011

By Kris Cyganiak – February 2, 2011

Canadian interest rates have a direct impact on many sectors of the economy including the construction sector and the real estate market.

In 2010, the Bank of Canada raised its benchmark overnight interest rates by .25% on three occasions including:

• The BOC overnight rate was raised to .50% on June 1, 2010.
• The BOC overnight rate was raised to .75% on July 20, 2010.
• The BOC overnight rate was raised to 1.00% on September 8, 2010.

Many bank analysts have warned of rate hikes for the better part of the year in 2010. They surmised that the Bank of Canada has been in a tight spot balancing what they see as an unsustainable rise in Canadian’s household debt levels and pressure from a increasingly strong Canadian dollar.

To read more of this News article, click here.

Greater Vancouver Real Estate Market January 2011 Sales Stable

By Kris Cyganiak – February 2, 2011

The Greater Vancouver residential housing market registered 1,819 unit sales in January 2011 starting the year at a similar pace to that of both January and December 2010 sales levels.

Greater Vancouver MLS sales of 1,819 units in January 2011 represented a 4.2% decline from the 1,899 sales in December 2010 and a 5.4% decline from the 1,923 sales in January 2010, but is also a 138.7% increase from the 762 unit sales in January 2009.

The total number of MLS property listings in Greater Vancouver increased by 5.8% in January 2011 to 10,438 from December 2010 and also represented a 2.2% increase from January 2010. This outpaced the 10-year average in both categories for January.

To read more of this News article, click here.

Difference Between Average and Median Selling Price in Vancouver

By Mark Fidgett – February 3, 2011

Lots of chatter about the difference between Median Sale Prices and Average Sale Prices…

What’s the difference and why should I care?

You should care because the Median Sale Price can be quite different from the Average Sale Price…

To read more of this Mortgages article, click here.

Canadian Mortgage Interest Rate Differential (IRD) Penalties

By Mark Fidgett – February 3, 2011

If you have a mortgage or are thinking about your mortgage options in Vancouver, Victoria, Kelowna or anywhere in British Columbia or Canada, you need to know about IRD penalties.

What is IRD?

The IRD is what the banks charge if you pay OFF your mortgage prior to the maturity date, or pay the mortgage principal down beyond the amount of your prepayment privileges.

To read more of this Mortgages article, click here.

YouTube Autoplay Trick for your Real Estate Video

By Marcus Cyganiak – February 3, 2011

Want your YouTube video to automatically play on your website?

Well you can learn how now, as it is a simple and effective trick to capture attention whenever someone visits your website.

YouTube gave me this default embed code…

To read more of this Tech article, click here.

Fraser Valley Real Estate Market January 2011 Sales Summary

By Kris Cyganiak – February 4, 2011

Fraser Valley Residential home sales registered 834 units sold on the MLS in January 2011 down 7% from the 895 units sold in December 2010 and down 15% from the 981 units sold in January 2010 according to the Fraser Valley Real Estate Board (FVREB).

In a report released on February 2, 2011 the board reported an increase in listing activity and steady sales for the first month of 2011.

While the total residential MLS home sales of 834 units in January 2011 represented a lower level of sales activity than any month in 2010, FVREB president Deanna Horn said, “The market typically picks up at this time of year as also evidenced by the decrease in the average number of days to sell for single family homes and townhomes in January.”

To read more of this News article, click here.

Fireplace Designs Define the Style of Your Vancouver Home

By Cristina Cyganiak – February 4, 2011

Throughout the years, home design trends change as they do in the fashion industry.

Color palettes vary, styling and structure transform while form and decor flows into new textures and materials.

No style, design or decor in a home is as important as the fireplace design because unlike it, one can very easily change the furnishings, decorations, colors and wall art. Fireplaces are a fixed design feature that would usually require a major investment to alter.

To read more of this Design article, click here.

Vancouver Dream Home Bathroom Designs that You will Desire

By Cristina Cyganiak – February 6, 2011

The design of a bathroom creates an inspiration for the styling theme of a home and is an integral part of your living experience. It is where you start your day and finish your evening.

Not only is it a functional space, but it is a creative and focal space that is second only to a homes kitchen as an expression of a homes style and decor.

Bathrooms can be elaborate or subtle in nature, the creative use of fixtures, materials, color and features will define your bathrooms atmosphere and impression.

To read more of this Design article, click here.

Details of Bankruptcy in Vancouver, British Columbia Explained

By Mark Fidgett – February 7, 2011

I received the following email a few days ago:

“Hi Mark, When do you decide you can’t do it anymore and you need to file for Bankruptcy?

My credit is so low that I can’t even get a loan to consolidate my debts!.

So Mark what do I do?”

Great Question and one that requires a bit of of an explanation.

Let me start by saying, I’m not a trustee and the following is meant for information purposes only.

To read more of this Mortgages article, click here.

Canadian Building Permits Increase 2.4% December 2010

By Kris Cyganiak – February 7, 2011

Canadian building permits values increased by 2.4% to $5.7 billion in December 2010 from $5.5 billion in November. The increase in December was a sharp reversal of overall declines of 11.2% in November and 6.5% in October according to figures released today by Statistics Canada.

The majority of the increase can be attributed to increases to the residential sector where the value of building permits rose 21.2% to $3.8 billion in December 2010 with Ontario being responsible for the majority of the national increase.

Multi-family building permits across Canada increased by 55.3% to $1.6 billion in December 2010, the highest level since April 2008.

To read more of this News article, click here.

10 Things You Should Not Do to Sell Your Vancouver Home

By Heather Kleim – February 7, 2011

Selling a home has been rated as one of life’s more stressful experiences.

Having a home sit on the market for a prolonged amount of time only adds to the stress and can:

• Make your listing become ‘stale’
• Trigger low ball offers
• Make reducing the price a viable option.

In Metro Vancouver’s ‘never a dull moment’ market, with prices at an all time high, it is now more important than ever to make your home shine among its competitors and show in its best possible light. Properly preparing your home for sale isn’t as daunting as you may think it is. Sure, you’re going to have to roll up your sleeves and do some work but the payoff is well worth it.

To read more of this Design article, click here.

Evergreen SkyTrain Line gets Environmental Approval February 2011

By Marcus Cyganiak – February 8, 2011

The $1.4 billion Evergreen Line Rapid Transit Project linking Coquitlam to Vancouver via Port Moody and Burnaby with a new convenient SkyTrain service received its environmental approval from BC’s Environmental Assessment Office.

The BC Ministry of Environment announced on February 3, 2011 that the Ministry of Transportation and Infrastructure received an environmental assessment certificate following Environment Minister Murray Coell’s and Community, Sport and Cultural Development Minister Stephanie Cadieux’s decision to grant the environmental assessment certificate after considering the review led by BC’s Environmental Assessment Office (EAO).

The project, with an estimated cost of $1.4 billion, is set to connect the cities of Burnaby, Port Moody, and Coquitlam across the span of 11 kilometres of advanced light rapid transit line between Lougheed Town Centre in Burnaby and Douglas College in Coquitlam with an end-to-end transit time of approximately 13 minutes.

To read more of this Project News article, click here.

BC Place Opened in 1983 – A New Beginning Coming September 30, 2011

By Kris Cyganiak – February 9, 2011

Since it’s opening, BC Place Stadium has been the centerpiece of Vancouver’s downtown core and for over 25 years, it has been an emblem of British Columbia.

The stadium was constructed from April 1981 to June 19, 1983, as part of the preparations for Expo 86, with a construction cost of $126 million.

When construction started on BC Place in 1981, no one in the city of Vancouver would have been able to predict that the huge white domed stadium that opened on June 19, 1983 would play host to the Vancouver 2010 Olympic Winter Games.

To read more of this Projects article, click here.

British Columbia West Coast Design Fusion with South African Decor

By Cristina Cyganiak – February 9, 2011

British Columbia is a melting pot of cultural influences from all over the world. You will often find people from all over the globe welcoming BC as their new home for the high quality lifestyle and standard of living.

With arguably one of the best cities in the world, Vancouver’s west coast designs can be found throughout British Columbia, fused with multicultural flare.

An example of west coast style and design enhanced with multiculturalism, is the South African expression found in this Kitimat home located in northern BC.

To read more of this Design article, click here.

Michael Jackson – Live in Vancouver at BC Place – 1984 Victory Tour

By Marcus Cyganiak – February 11, 2011

“He’s Here!” – read the front page of The Province newspaper.

A look back at the history of Vancouver cannot be done without mention of one of the world’s most recognizable music superstars and the impact he made on the city of Vancouver with his visit in 1984 to the BC Place Stadium.

Michael Jackson’s one and only appearance in Vancouver came by way of a three-night series of BC Place concerts in November 1984, as part of the Victory Tour, alongside his “Jackson Five” brothers.

Micheal made his mark on the city of Vancouver long before it was discovered by the world with Expo 86.

To read more of this Lifestyle article, click here.

British Columbia Property Assessment Appeals increase by 7% for 2011

By Kris Cyganiak – February 11, 2011

Over two million BC Assessment notices for 2011 were mailed out to British Columbia property owners this year. Each assessment allowed an owner to inquire about or appeal their assessment from January 1 to 11:59pm on January 31, 2011.

BC Assessment had a busier than normal January fielding more public inquiries and appeals by the deadline this year according to figures released on February 10, 2011.

Increased media efforts by BC Assessment to expand the public’s awareness of their inquiry and appeal options as well as the provinces total property assessments increasing by 8% in 2011 to over $1 Trillion (for the first time in history), from $970 million in 2010 resulted in more public inquires and appeals this year.

To read more of this News article, click here.

CREA Increases 2011 British Columbia Home Sales Forecast by 17%

By Kris Cyganiak – February 11, 2011

In the first revision of its Annual Resale Housing Forecast in 2011, the Canadian Real Estate Association (CREA) has revised its forecast for home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian Real Estate Boards and Associations in 2011, and extended it to 2012.

Citing recent improvements in economic outlook and a further expected improvement in consumer confidence, CREA stated that, “Sales in the second half of 2010 rebounded faster than they had previously expected” according to their February 8, 2011 news release.

“The hand-off going into 2011, together with the highs and lows for sales activity posted in 2010, provided guidance for CREA’s revised forecast,” said Gregory Klump, CREA Chief Economist.

To read more of this News article, click here.

Vancouver Master Bedroom Designs that Create Intimate Expressions

By Cristina Cyganiak – February 14, 2011

One of the most intimate areas of home design is the master bedroom. Not only is it a space for sleeping and leisure, but it is a haven from all the other areas of a home.

Master bedroom designs echo and mirror an owners expression with a sense of serenity, and peace.

Lets take a look at several examples of various master bedroom designs throughout Greater Vancouver that highlight different visual impressions.

To read more of this Design article, click here.

How to Lower Your Debt with Your Mortgage in Vancouver

By Mark Fidgett – February 14, 2011

You like me are probably looking at your T4 slip from last year or maybe even your most recent pay stub and asking yourself, where the heck does it all go?

Sure, you wish there were a few more zeros on there, but it’s the vanishing act that’s the killer.

Tax time is the worst, you can see how much money you made, but your credit card is still maxed and you don’t have much to show for all your hard earned income.

• Are your credit cards floating near max?
• Are you dipping into you overdraft?

To read more of this Mortgages article, click here.

Ken W. Hunter – Langley Realtor – BuyRIC.com Profile

By BuyRIC.com – February 15, 2011

Working with and for people is a passion. The process of buying and selling Real Estate may sound a little dry to some, but believe me when I say, the days are never the same. From the marketing to the selling to the constant upgrading of knowledge there are many, many facets to this business which would challenge even the most experienced business person. Also keeping in touch with the latest trends and products which will help my clients is a daily activity… And it’s very cool too.

After spending many years in the telecommunications business world, the majority spent on the sales side of the ledger, I decided to return to my roots in early 2003 and enter the world of Real Estate sales. Utilizing an extensive background in negotiating large corporate data contracts, I am able to harness those experiences (most good, some not so much) and use them for my clients’ benefit….

Now, working in a team environment as part of the RedBarn Group we are able to use many types of backgrounds, put on our many hats into the ring and create a unique experience for our clients… And it’s fun!

To read more of this Profile, click here.

Teri Conrad – Langley Realtor – BuyRIC.com Profile

By BuyRIC.com – February 15, 2011

A modern Realtor® ~ passionate about and embraces Web 2.0, utilizing online marketing initiatives and social media to maximize exposure and sell properties!

My extensive network means your property reaches a far broader audience. My background in marketing and selling radio advertising and diploma in Radio Communications from BCIT has given me the knowledge and experience and positions me well in the new media and new technology world.

I also work with clients who need guidance with their social media strategy and content management.

To read more of this Profile, click here.

Reduce 5 Degrees of Separation from Your Money Down to 2

By Pierre Marchildon – February 16, 2011

Did you know that you could re-park your RRSP funds in a Mortgage Investment Corporation (MIC) and see a 12% per year return?

Based on the rule of 72, your money would double in 6 years at that rate. Plus you will be closer to your money than in a traditional mutual fund.

The directors of this (MIC) company have offices in Vancouver and Edmonton. They are also active businessmen in their community.

To read more of this Blog article, click here.

Realtors as Buyers Agents are Key to Purchasing Vancouver Real Estate

By Adam Goss – February 16, 2011

There are of course two parties to every real estate transaction: Buyer and Seller.

It would make perfect sense that there would also be two Realtors for every sale, one to represent the best interests of the seller as a “Listing Agent” and one to represent the best interests of the buyer as a “Buyer Agent.”

Of the last 100 reported sales in Burnaby and New Westminster slightly over 80% involved two real estate agents.

To read more of this Realtors article, click here.

Asia Boosts British Columbia Exports by Record 15% in 2010

By Marcus Cyganiak – February 16, 2011

Domestic exports climbed to more than $28.7 billion for the province of British Columbia in 2010, thanks to record trade with Asia from ports in Prince Rupert and Greater Vancouver.

This effectively created a trade increase of $3.6 billion, which is approximately 15% higher than 2009, according to figures from Statistics Canada, as part of the International Trade report for December 2010 that was released this month.

“BC’s economic and job growth can be directly tied to our ability to sell our products and commodities in foreign markets,” said Margaret MacDiarmid, Minister of Tourism, Trade and Investment.

To read more of this News article, click here.

Vancouver Real Estate Bubble? – Prices Have Doubled Every Decade!

By Pierre Marchildon – February 16, 2011

Vancouver home prices almost DOUBLED in FIVE years!

Who says?

While every community made gains, two areas in particular saw home prices almost double in five years, according to the Real Estate Board of Greater Vancouver.

With all the continued talk of real estate bubbles in Vancouver, the local market has responded by experiencing some dramatic gains in 2010, especially in Richmond and Vancouver Westside.

To read more of this Blog article, click here.

How to Show Your Home so it Sells in Vancouver

By Mark Fidgett – February 17, 2011

Selling your home can be tough if you are not showcasing it to its highest potential.

To present your home in this manner though, you do have some work cut out for you. Yes, you will need to hide the clutter and dress up your home while it’s on the market.

This will enable you to get the best possible selling price by giving potential buyers the true feeling and experience that your home exudes when it’s kept in a professional, clean and presentable manner.

To read more of this Blog article, click here.

Staging a Redesign in a Owner Occupied Vancouver Home

By Heather Kleim – February 18, 2011

Ah yes, industry terminology. Every industry has its own lingo and home staging is no exception.

This week we had the pleasure of doing a ‘redesign’ staging project for one of our REALTOR® clients’ own home. When we first launched our Empire, Jack was one of our very first clients. We have since worked with him on many of his listings but this week we had the honour of helping him and his lovely wife prepare their own home for sale. Needless to say that this project was very special to us.

This project was a ‘redesign’. In the world of home staging, redesign means using what is already in the home and strategically adding items throughout to create a space that photographs well AND appeals to the target market of buyers.

To read more of this Design article, click here.

New 2011 Canadian Advertising Campaign in China will Benefit BC

By Marcus Cyganiak – February 18, 2011

After a meeting with Wen Jiabao Premier of China in Beijing on December 3, 2009, Canadian Prime Minister Stephen Harper announced that the Government of China had granted Canada, Approved Destination Status (ADS) for travel.

“Approved Destination Status marks a significant moment in the history of our relations with China, indicating not only our mutual commitment to strengthening our diplomatic and commercial partnerships, but also our people-to-people ties,” said Prime Minister Harper.

It wasn’t until June 24, 2010 that a “Memorandum of Understanding” governing ADS was reached and signed between Prime Minister Harper and Chinese President Hu Jintao during a meeting in Ottawa prior to the G20 summit in Toronto that was held on June 26-27, 2010.

To read more of this News article, click here.

Google Places – The Good and Bad Place for Mortgage Brokers

By Scott Dawson – February 18, 2011

Google Places allows you to create free listings so when potential customers search Maps for local information, they’ll find your business:

• Your address
• Hours of operation
• Photos of your storefront

I encourage all business owners to create their listings as it is a great way to receive exposure to potential clients.

To read more of this Mortgages article, click here.

Vancouver Tops the World as Most Livable City Again for 2011

By Kris Cyganiak – February 21, 2011

The accolades for Vancouver continue to pour in from around the world. The Economist Intelligence Unit (EIU) again named Vancouver as the “Most Livable City in the World” for 2011 in their latest ranking released today, February 21, 2011.

This was the fifth consecutive year in a row that Vancouver, British Columbia has topped the list and it is the second year in a row that it has scored 98 out of a maximum of 100 in the report. Vancouver has now held the top ranking on the EIU list since 2007.

The Economist Intelligence Unit report stated that Vancouver’s top Global Liveability Ranking “can only have been cemented by the successful hosting of the 2010 Winter Olympics and Paralympics, which provided a boost to the infrastructure and culture and environment categories.”

To read more of this Lifestyle article, click here.

Purchase Plus Improvements Mortgage for Vancouver Real Estate

By Mark Fidgett – February 22, 2011

The kitchen’s outdated and the orange shag just doesn’t cut it.

Ok, that’s probably a bit of an stretch, but I hope you get the picture.

Now you can have your dream kitchen and en-suite with one simple mortgage payment. All of this can be done by putting down as little as 5% of the “as improved” value. Purchase Plus Improvements literally allows you to add the improvements to the mortgage.

To read more of this Mortgages article, click here.

Vancouver #1 Most Livable Olympic City equals Canada #1 World Brand

By Kris Cyganiak – February 22, 2011

The Vancouver 2010 Winter Olympic Games continue to pay dividends for both the city of Vancouver and the country of Canada bringing both to the top of world in Livability rankings and Brand recognition.

The Economist Intelligence Unit (EIU) out of the UK has yet again recognized Vancouver as the “Most Livable City in the World” for 2011. This places the city of Vancouver at the top ranking of 140 cities worldwide based on its livability.

LIVABILITY – The annual Economist Intelligence Unit (EIU) report ranks the livability of 140 cities around the world based on the following criteria:

• Stability
• Healthcare
• Culture & Environment
• Education
• Infrastructure

To read more of this Lifestyle article, click here.

BC Home Sales Forecast to Increase by 8% 2011 and 4% 2012

By Kris Cyganiak – February 23, 2011

The British Columbia Real Estate Association (BCREA) released its Housing Forecast Update for the first quarter of 2011 today stating that the BC housing market is returning to a normal position after several years of volatility.

The BCREA is forecasting that Multiple Listing Service (MLS) sales for British Columbia are expected to increase by 8.0% to 80,900 units in 2011 from the 74,640 units sold in 2010.

They are also predicting a further 4% increase in BC home sales in 2012, rising to 83,950 units from the expected 80,900 units in 2011.

To read more of this News article, click here.

Andrea Jauck – Tri-Cities and Anmore Realtor – BuyRIC.com Profile

By BuyRIC.com – February 23, 2011

Born and raised in the Tri-Cities, Andrea has developed an intuition for Real Estate and New Home Construction, given that her family has been in the business since 1980.

Her father, Mark Jauck of Marcraft Homes, has built hundreds of quality homes in the Port Moody and Tri-Cities area and is known for his integrity, dedication to quality, and passion for the business. Andrea is proud to say she follows in her father’s footsteps and espouses the same values.

Andrea began her career in Real Estate and New Homes sales in 2004, working for Polygon Homes, one of the leaders in multi-family developments. She soon realized that she had found her niche in life and became passionate about helping people achieve their real estate goals.

To read more of this Profile, click here.

Home Staging Helps Vancouver Realtors Sell Clients Homes

By Heather Kleim – February 24, 2011

Home owners love home staging. It’s still considered trendy, cool and yes, even cutting edge. I could tell you countless stories of working with clients who tell all their friends, family and co-workers that they’re working with a home stager to get their home ready to sell. I could tell you even more stories about my clients who have invited everyone they know to their home after it’s been staged to show it off. Home staging = bragging rights and a great excuse to have friends and family over for a visit.

I work with a number of REALTORS® who include one of our consultations as part of their listing package. In fact, I met with two new clients this weekend who are eager to get their homes on this very exciting market. One of these clients was a referral from a past client – who also referred their REALTOR® to their friends. A double referral if you will.

Cortney Lessard is a REALTOR® with Century 21 and I’ve had the pleasure of working with him on a number of his listings. Cortney’s clients adore him and I can see why. He’s very kind, incredibly focussed and has a wicked sense of humour. He values my services and knows that it not only helps his listing sell faster, it adds to his clients’ experience working with him.

To read more of this Design article, click here.

How Timing Effects Your Greater Vancouver Real Estate Deal

By Adam Goss – February 24, 2011

When it comes to getting a great real estate deal in Greater Vancouver, either on the buying or selling side, timing has a great effect.

Let me share with you a great example of the monetary value of timing in real estate.

I was recently working with a great couple to find them a townhouse in New West when our search slowed as Christmas approached. Unexpectedly, I was alerted to a new listing which I felt matched their criteria perfectly, and it was actually well under their “top end” for pricing which was great.

To read more of this Realtors article, click here.

Vancouver Kitchen Designs Create a Home’s Focal Point

By Cristina Cyganiak – February 25, 2011

A well-designed kitchen combines innovative functionality, creative layout and overall balance. A kitchen needs to satisfy the daily needs of a family bringing in the feeling of functionality with a harmony of its design.

Whether it is social and inviting, cozy and comfortable or practical and functional, the kitchen is a homes focal point and its design theme will carry a certain tone throughout the rest of the home.

Lets take a look at several examples of various kitchen designs throughout Greater Vancouver that create different tones in a home.

To read more of this Design article, click here.

British Columbia continues to build on the momentum and afterglow of the Vancouver 2010 Olympic Winter Games.

Statistics Canada figures show that total international overnight visitor arrivals in British Columbia increased by 4.0% to 4,271,422 in 2010 compared to 4,105,613 in 2009. This almost doubled the 2.3% rise for Canada as a whole.

British Columbia is one of the most important international entry points for Canada as almost one in four (25%) international visitors to Canada entered the country through BC in 2010.

December 2010 alone, saw a 6.6% increase in international overnight visitors to BC compared to 2009 figures. This is nearly triple the 2.4% rise across Canada for December. It was also the seventh consecutive monthly increase in international overnight visitors to British Columbia.

“We’ve had clear and consistent evidence each and every month that BC’s tourism industry is recovering from the global economic slowdown. More people are coming here to experience super Natural British Columbia in person after seeing our beautiful province on-screen during the 2010 games,” said BC Minister of Tourism, Trade and Investment, Margaret MacDiarmid. “Through Tourism BC’s coordinated marketing campaigns, we will continue to convert that awareness to visits – and tourism jobs.”

Total visits from the US to British Columbia in 2010 rose by 1.8% to 4,373,377. This represented a 1.9% increase in overnight US visitors (2,881,597) and a 1.7% increase in Same Day US visitors (1,491,780).

MacDiarmid said, “Despite our high Canadian dollar, we’ve seen a resurgence in overnight visitors from the U.S., our largest single tourist market by far, over the past three months.”

“And with BC Place getting ready to reopen after a year and a half of rebuilding, we’ll be able to host more events that will draw people from the rest of Canada – including high-profile games like the Grey and Vanier Cups – and elsewhere,” added MacDiarmid.

There was a broad range of visitor and tourist arrival increases to British Columbia from many countries in 2010.

The following table shows the actual International Visitor Arrivals as per overnight customs entries to British Columbia from select countries as prepared by the BC Ministry of Tourism from Statistics Canada 2010 year-end data.

International Visitor & Tourist Arrivals to British Columbia in 2010

The Statistics Canada numbers are based on international visitors who cross through Canada Customs in British Columbia. Actual numbers of visitors to BC are higher as some international visitors pass through customs outside of BC before travelling to the province.

On June 24, 2010, Chinese President Hu Jintao and Canadian Prime Minister Stephen Harper signed a “Memorandum of Understanding” in which China granted Canada with an Approved Destination Status (ADS) for its citizens to travel to Canada.

BC Premier Gordon Campbell welcomed the new ADS agreement by saying, “This is a significant milestone in our relations with China. Not only will Approved Destination Status result in substantial economic benefits for BC in the form of increased tourism revenues and job creation, it represents an important step forward in strengthening our role as Canada’s gateway to the Asia Pacific.”

The Approved Destination Status (ADS) agreement was expected to increase Chinese visitors to British Columbia by 15% in 2011 and an additional 15% in 2012.

The impact of that meeting is already being felt in BC and the results have exceeded expectations. Arrivals to British Columbia from China rose by 18.9% to 118,481 visitors and tourists in 2010.

Last year, over 160,000 Chinese visitors came to Canada, with more than half visiting British Columbia. By the year 2020, China expects to deliver 100 million international travellers worldwide.

The importance of the Asian-Pacific region to British Columbia future cannot be understated. “As of 2020, Asia will account for 50% per cent of the global GDP,” said Greg D’Avignon CEO of the BC Business Council.

Overnight visitor arrivals from the entire Asia-Pacific region countries were up substantially in 2010. Arrivals from the region to BC increased by 11.1% in 2010 to a total of 806,901.

Tourism is a $12.7 billion a year industry in British Columbia that employs nearly 129,000 people in the province. The British Columbia tourism industry is also at the forefront of exposing BC to potential immigrants and investors in the province.

By far, the largest component of population growth and housing demand in British Columbia is from immigration. More than 70% of the increase in the British Columbia provincial population is attributable to net international migration which added an additional 51,000 people to the province last year.

British Columbia currently comprises 13% of the Canadian population, but receives 19% of Canadian national population growth.

In fact, from an economic perspective, BC attracts the cream of the crop when it comes to immigrants. More than half the investor class immigrants to Canada settle in BC, and 75% of them come from China, BC’s top source country of international immigrants.

A report released today by the British Columbia Real Estate Association (BCREA) indicates that the commercial real estate market in BC will continue to strengthen in 2011.

BCREA has developed a new Commercial Leading Indicator (CLI) index that was designed to forecast changes in broad commercial real estate activity. BCREA research has shown that the variables that compose the CLI reliably forecast BC commercial real estate activity at a lag of two to four quarters.

In the forth quarter of 2010, the BCREA CLI rose by 2.3% to an index level of 110.5, which marked seven straight quarters of improvement.

Before the commencement of the worldwide financial crisis, the CPI index hit a high point of 115.9 in the second quarter of 2007. The index went down to a low of 100.1 in the first half of 2009 as a result of the financial crisis. In 2010 the index recovered to a 110.5 figure, but is still 5.3% below its peak of 2007.

“Economic indicators that tend to lead activity in the commercial real estate market have posted strong growth over several consecutive quarters,” said Brendon Ogmundson, BCREA Economist.

The BCREA is attributing much of the recent rebound in the CLI to dramatically improved financial conditions, which helps explain the impressive surge in commercial real estate investment into BC last year.

Other indicators such as office employment and retail sales have also climbed out of the depressed levels during the recession. However, the rebound in these indicators may reflect more of a normalization than a signal of robust future commercial activity.

The BC economy came out of the recent recession with its strongest growth in over two years, posting a GDP growth rate of 3.5% in 2010. Stimulus spending and the Vancouver 2010 Olympic Winter Games produced strong consumer confidence and a rebound in housing sector construction and home sales.

The positive view of the BC economy has also enabled the BCREA to recently forecast that British Columbia residential home sales are expected to increase by 8.0% to 80,900 units in 2011 from the 74,640 units sold in 2010.

Overall, the BCREA commercial real estate market report views the recent positive trend in the CLI as a sign that the BC commercial real estate market is set to strengthen in 2011.

“Based on these macro-level indicators, we would anticipate 2011 to be a strong year for the commercial sector,” added Ogmundson

After a meeting with Wen Jiabao Premier of China in Beijing on December 3, 2009, Canadian Prime Minister Stephen Harper announced that the Government of China had granted Canada, Approved Destination Status (ADS) for travel.

“Approved Destination Status marks a significant moment in the history of our relations with China, indicating not only our mutual commitment to strengthening our diplomatic and commercial partnerships, but also our people-to-people ties,” said Prime Minister Harper.

It wasn’t until June 24, 2010 that a “Memorandum of Understanding” governing ADS was reached and signed between Prime Minister Harper and Chinese President Hu Jintao during a meeting in Ottawa prior to the G20 summit in Toronto that was held on June 26-27, 2010.

BC Premier Gordon Campbell welcomed the new ADS agreement by saying, “This is a significant milestone in our relations with China. Not only will Approved Destination Status result in substantial economic benefits for BC in the form of increased tourism revenues and job creation, it represents an important step forward in strengthening our role as Canada’s gateway to the Asia Pacific.”

Approved Destination Status (ADS) makes it easier for Chinese nationals to visit Canada, allowing them to travel to Canada in a leisure group tour format. It allows Chinese travel agents to advertise and organize group tours to Canada as a result of the designation.

The Government of Canada stated:

ADS travel to Canada by Chinese tourist groups is organized by travel agencies designated by the National Tourism Administration of China (CNTA) in partnership with a Canadian tour operator accredited by the Tourism Industry Association of Canada (TIAC.)

Since being granted Approved Destination Status (ADS) in June 2010, the Canadian Tourism Commission, Canada’s national tourism marketing agency (CTC) announced on February 15, 2011 that it has launched its first major advertising campaign in China entitled “Say Hello to Canada”.

The new advertising campaign will allow CTC to market Canada for the first time in China on an equal footing with other destinations around the world because of the Approved Destination Status (ADS) designation.

The Canadian Tourism Commission stated:

The marketing campaign, “Say hello to Canada,” aims to introduce Canada to potential Chinese travellers in the same open, informal way as making a new friend. Advertising will feature heavily online, including key social-media platforms such as Kaixin, video-sharing sites such as Youku, search engines and micro blogs as well as travel, lifestyle, news and culinary websites. There will also be ads in leading newspapers and travel or lifestyle mags, such as Shanghai Weekly, The Bund and National Geographic. To pique Chinese interest further, an online game will have prize trips to Canada at stake.

“We are aiming primarily at affluent, high-spend and well-educated 25-to-34-year-olds in this initial campaign,” says Derek Galpin, CTC managing director China/India. “Our research shows that they are the most inclined to long-haul travel, and then to get out and explore Canada once they arrive.”

“This time next year, CTC expects significant growth from the China market linked to additional air capacity, our advertising and promotional campaigns, and partner support,” says Greg Klassen, CTC’s Senior Vice President of Marketing Strategy and Communications. “With tour operators in China and suppliers in Canada, CTC will showcase high-quality vacation experiences.”

With tourism being a competitive market today more than ever before, the CTC wants to start by focusing on the promotion of well-known hot spots. This will ensure enticement for Chinese travellers to make the flight overseas.

The city of Vancouver has long been a major attraction for Chinese tourists and homebuyers. Their influence on real estate has been a huge factor in the substantial home value and price increases recently seen in several parts of the city.

Chinese travel groups such as SouFun had previously put together several tours of Vancouver for wealthy Chinese travelers coined as “real estate tourism” for the sole purpose of viewing real estate.

The Approved Destination Status (ADS) agreement is expected to increase Chinese visitors to British Columbia by 15% in 2011 and an additional 15% in 2012. Last year, over 160,000 Chinese visitors came to Canada, with more than half visiting British Columbia.

By the year 2020, China expects to deliver 100 million international travellers worldwide. An additional $300 million a year in tourism revenues, is what Canada could potentially generate by 2015, as a result of China’s expected growth of travellers.

With the ADS agreement in place, this new consumer-focused Canadian advertising campaign in China is sure to build on the momentum and success of the Vancouver 2010 Winter Olympic Games by promoting the many tourism opportunities BC has to offer to the most populous nation in the world.

The Vancouver area saw a housing sales drop of 5.8% in June 2010 compared to May 2010, according to the Real Estate Board of Greater Vancouver.

For June 2010, there were 2,972 sales, representing roughly a 30% decline against last years June 2009’s 4,259 sales figures. However this was a 22.6% increase over the 2,525 sales recorded in June 2008. The figure from last year was actually the second highest selling June on record.

Jake Moldowan, President of Greater Vancouver’s Real Estate Board, says that the “number of new listings coming on the market is not as dramatic” as three months prior to June 2010, but “demand remains at a healthy level for this traditionally quieter time of the year,” as the summer of 2010 has been hampered by the HST.

A total of 5,544 new listings of detached, attached, and apartments properties were added to the MLS system in June 2010. This was a 21% decline compared to May 2010, which saw 7,014 listings and a 3.2% increase over June 2009, which saw 5,372 listings added.

Moldowan added that, “there has been less upward pressure on prices in our market the last few months, which has allowed prices to ease back from the record high numbers seen in April,” following the Olympics.

With the trend of high sales over the last few months following the Vancouver 2010 Olympics, it seemed natural for June to be another high month. However, with any hot market, there comes a cooling off period and that time has now approached.

A Real Estate Board of Great Vancouver July 6, 2010 press release further states that:

Over the last 12 months, the overall MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 11.8 per cent to $580,237 from $518,855 in June 2009.

Sales of detached properties in June 2010 reached 1,139, a decrease of 31.7 per cent from the 1,667 detached sales recorded in June 2009 and a 24.1 per cent increase from the 918 units sold in June 2008. The benchmark price for detached properties increased 13.4 per cent from June 2009 to $795,025.

Sales of apartment properties reached 1,258 in June 2010, a decline of 29.7 per cent compared to the 1,790 sales in June 2009 and an increase of 19 per cent compared to the 1,057 sales in June 2008.The benchmark price of an apartment property increased 9.7 per cent from June 2009 to $391,528.

Attached property sales in June 2010 totalled 575, a decline of 28.3 per cent compared to the 802 sales in June 2009 and a 27.8 per cent increase from the 450 attached properties sold in June 2008. The benchmark price of an attached unit increased 11.6 per cent between June 2009 and 2010 to $492,861.

One of the factors the housing market had to contend with in June this year, was the fear and confusion over the new HST tax that was coming to British Columbia on July 1, 2010. This no doubt led to some people either accelerating or putting off their buying or selling decisions.

Now that the HST has officially been implemented, BC residents are beginning to learn the impact and effect of the HST. For an exclusive BuyRIC.com list of what goods and services apply under the new HST tax, click here.

Vancouver, British Columbia has long been a major attraction for homebuyers, but never like what we’re seeing this year. Ever since the 2010 Olympic Winter Games occurred back in February, real estate in the Vancouver area has been so strong that a market for “real estate tourism” has been establishing.

Groups of wealthy travelers have bought into scheduled visits to Vancouver, with the sole purpose being home hunting. Most of these travelers include international buyers from China, as a Chinese-based Internet sales company, SouFun, has two upcoming tours scheduled for Vancouver – one from Beijing and the other from Shanghai. The group of about 20 each will also be visiting Toronto, when they first stop to hunt for multi-million dollar listings this August in Vancouver.

Back in 2008, SouFun put together similar travel packs for Chinese residents who went on to visit American neighbourhoods, from Los Angeles to New York.

This was during the inception of the Global Financial Crisis in 2008, and for Beijing lawyer Ying Guohua, who went looking for a $1 million home through SouFun in either New York City or Los Angeles, he said it was “a great time to buy because of the financial crisis,” since “houses in large cities like New York and Los Angeles will definitely go up in a few years.”

With home prices now climbing in Vancouver, to the point of boasting the highest prices in all of Canada, Royal Pacific Realty agent Angel Wang says that Vancouver is still attractive for residents of China looking to move to the west coast of North America because the prices are still a bargain when compared to those in Shanghai, Beijing, or even other international cities. That and the fact that Vancouver, Canada appears to be a stable market.

Tom Gradecak, owner of Westside Tom Gradecak Realty, remarks how 80% of his showings for his west-side Vancouver listings go to Chinese buyers.

“When prices are getting over $2.5 million to $3 million, then predominantly that’s our market,” Gradecak said. However, when the homes are over $4 million to $6 million, “almost the entire market” of residential real estate goes to Chinese consumers.

The trips that are setup by SouFun though are ultimately used to get a sense of what Vancouver’s neighbourhoods are like – which points to the incarnation of the term, “real estate tourism.” A SouFun spokesman said that potential buyers are usually drawn to neighbourhoods with “famous” schools or ocean view properties.

According to Vincent Chen, a representative for the Chinese immigrate consulting firm Visas Consulting Group, Canada is currently the most popular attraction for mainland Chinese using his firm. Reason for this attraction is Canada’s quality of education, quality of life, the overall safety and stability of Canadian society, and its “attractive investor immigrant program.”

Asian buyers have had a dramatic impact on the Vancouver real estate market over the past two decades and recent developments point to that trend accelerating, well into the future.

On June 24, 2010 during the G20 Summit in Toronto, Chinese President Hu Jintao signed a memorandum of understanding granting Canada an “Approved Destination Status” effectively opening the travel doors to Canada for Chinese citizens.

Not only is this expected to boast Canada’s tourism industry by $100 million a year, it is sure to increase Chinese “real estate tourism” trips with the high end Vancouver real estate market, no doubt being on their shopping list as Canada’s gateway to Asia.

The Vancouver housing market continued its upward climb with both sales and pricing increasing in April 2010.

Figures from the Real Estate Board of Greater Vancouver indicated that sales in April 2010 rose by 18.5% from April 2009 levels. Sales figures for April 2010 also rose by 12% from the previous month of March 2010 levels.

This continues a trend that has been very repetitive for the first four months of 2010. However, new listings are also accelerating. There was an increase of 9.2% in April 2010 from March 2010 of detached, attached and apartment properties in Greater Vancouver.

In their news release, the Real Estate Board of Greater Vancouver stated that:

The Greater Vancouver housing market experienced increased activity in April thanks to a steady balance of home buyers and sellers entering the marketplace.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 3,512 in April 2010, the fifth highest-selling April on record. The figure represents an increase of 18.5 per cent compared to the 2,963 sales in April 2009; 9.1 per cent more than April 2008’s 3,218 sales; and 3.7 per cent more than April 2007’s 3,387 sales. April 2010 sales also represent a 12 per cent increase compared to last month.

“We’re in the midst of another strong spring season thanks to high levels of activity on both the buyer and seller side of our market,” Jake Moldowan, REBGV president said. “The number of homes coming on the market has increased significantly in recent months, which is providing a healthy level of choice for those looking to buy during this busy period.”

New listings for detached, attached and apartment properties in Greater Vancouver totalled 7,648 in April 2010, a 64.5 per cent increase compared to April 2009 when 4,649 new units were listed, and a 9.2 per cent increase compared to March 2010 when 7,004 properties were added to the Multiple Listing Service® (MLS®).

At 15,901, the total number of property listings on the MLS® increased 17 per cent in April compared to last month, and is up 11 per cent compared to this time last year.

Over the last 12 months, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 18.9 per cent to $593,419 from $499,021 in April 2009.

“It was at this time last year when home prices in our region began their recovery from the declines that occurred during the recession period,” Moldowan said.

Sales of detached properties in April 2010 reached 1,370, an increase of 15.1 per cent from the 1,190 detached sales recorded in April 2009 and a six per cent increase from the 1,293 units sold in April 2008. The benchmark price for detached properties increased 21.2 per cent from April 2009 to $818,403.

Sales of apartment properties reached 1,526 in April 2010, an increase of 29.4 per cent compared to the 1,179 sales in April 2009 and an increase of 15.9 per cent compared to the 1,317 sales in April 2008.The benchmark price of an apartment property increased 16.9 per cent from April 2009 to $397,779.

Attached property sales in April 2010 totalled 616, an increase of 3.7 per cent compared to the 594 sales in April 2009 and a 1.3 per cent increase from the 608 attached properties sold in April 2008. The benchmark price of an attached unit increased 16.4 per cent between April 2009 and 2010 to $502,399.

The Real Estate industry is a key economic driver in British Columbia. In 2009, 35,669 homes changed hands in the Board’s area, generating $1.49 billion in spin-off activity. The Real Estate Board of Greater Vancouver is an association representing more than 9,800 REALTORS® and their companies. The Board provides a variety of member services, including the Multiple Listing Service®.

Vancouver has drawn a lot of international media attention from it’s hosting of the Vancouver 2010 Winter Olympic Games which no doubt has brought our real estate market international recognition and focus. There have been numerous recent media stories regarding international buyers looking to invest in the Canadian real estate market as a safe haven investment with Vancouver being one of the targets for that investment.

This past weekends “Opening to Sales” of the $1.0 Billion Vancouver Olympic Village development is sure to stir international buyer interest and sales.  About 200 of the remaining 474 former “2010 Winter Olympic Village” units were put on the market and opening day sales were said to be better than anticipated.

Although, new Canadian mortgage rules that were introduced on April 19, 2010 may have a negative impact on the high flying sales figures in Greater Vancouver, I anticipate that the current trends will carry over into May 2010 as buyers attempt to beat the impending 12% HST tax arriving in British Columbia on July 1, 2010.

We might as well rename “March Madness” to the “Million Dollar March” in the city of Vancouver because for the first time in history, the city’s average price for a single detached home reached the $1 million mark.

Wait, did I write that correctly? One million dollars for a single detached home? Yes I did and the fact of the matter is that 1,344 of these homes were sold in Vancouver and the greater Vancouver region last month. According to the BC Real Estate Association, these sales accumulated a total cost of nearly $1.35 billion.

“When we look at the price of a single detached home, in March it was the first month ever that we saw that price crest a million dollars,” the association’s Cameron Muir said yesterday while being interviewed for CTV News.

Why such a fast rebound after the biggest recession ever suffered since the Great Depression? Well, a lot of experts such as realtor Paul Eviston are suggesting that the 2010 Olympic Winter Games had something to do with it, combined with the extra mild winter Vancouver had this year.

“If you look at our market in the last 12 months, it’s probably the hottest real estate market in the world,” Eviston told CTV News.

Putting factual numbers to claim, Eviston is correct as March 2010 sales even saw standard single detached homes in greater Vancouver go for more than $800,000, while March 2009 saw similar homes cost $650,000. The resulting fact here is that prices have spiked 23.3% in just 12 months.

BC Real Estate Association’s Muir calls this “the most significant rebound” he’s seen in the market “since 1970.”

It’s never been such a hot time like now to invest in Vancouver, the host city of the 2010 Olympic Winter Games back in February.