Blog by Kimmins and Associates: Luxury Real Estate

BC Home Sales Start with a Whimper in 2009

February 24th, 2009

Vancouver, BC - February 16, 2009. British Columbia Real Estate Association (BCREA) reports residential sales dollar volume on the Multiple Listing Service® (MLS®) in BC declined 61 per cent to $873 million in January, compared to the same month last year. Residential unit sales fell 57 per cent to 2,115 units during the same period. The average MLS® residential price in the province was $412 ...

Home building to fall by 25%, CMHC says

February 24th, 2009

Globe and Mail Update

OTTAWA - Home building is expected to scale back considerably in Canada this year, with housing starts falling 24 per cent in 2009, followed by a barely discernible increase in 2010, Canada's federal housing agency says in a newly downgraded forecast.

"Overall, housing starts will decline in ...

Canada's housing market still in the doldrums

February 18th, 2009

Canada's housing market continued to deteriorate in January amid declines in both the price and sales of existing homes, particularly in British Columbia, Alberta and Ontario, figures from the Canadian Real Estate Association showed Friday.

While economists do not expect the housing downturn to be anywhere near as severe as in the United States or the United Kingdom, the fall in prices amid ...

Investors back buying the Canadian dollar

February 18th, 2009

Canada's currency gained as stocks rose on speculation President Barack Obama's plan to stem home foreclosures will bolster the U.S. economy, boosting demand for riskier assets.

"The loonie got clobbered yesterday [Tuesday] on fears the economy might not rebound," said David Watt, a senior currency strategist at RBC Capital Markets in Toronto. "Today people are saying the worst might be past ...

Ottawa flogs mortgage bonds

February 18th, 2009

Ottawa is pumping out bonds to back the residential real estate market, with the Canada Housing Trust expected to sell $3.5-bilion of new debt this week.

As the federal government expands it mortgage insurance program, the Canada Housing Trust announced Tuesday that it will sell an additional $2.5-billion of 10-year Canada Mortgage Bonds, and launch a new $1-billion five-year floating rate n ...

2212 LARCH Street, Vancouver West, British Columbia

February 12th, 2009

I just finished uploading this House for sale, 2212 LARCH Street, Vancouver West, British Columbia

Kitsilano spectacular! Heritage "Honor" award winning renovated home in beautiful Kitsilano. A 3 level gem that exudes old world charm from top to bottom. Loving attention is evident in every detail. This solid corner lot home is set in one of the most popular areas in Vancouver. In the middle ...

202 1680 BAYSHORE Drive, Vancouver West, British Columbia

February 4th, 2009

I just finished uploading this Condo for sale, 202 1680 BAYSHORE Drive, Vancouver West, British Columbia

Gorgeous 2 bdrm/den view suite on prestigious Bayshore Dr. Great open plan kitchen S/S appls & granite counterops. A/C, 24 hr concierge & gym, Great unit w. balcony, 1 parking, 1 storage. Just steps from Stanley Park, Robson shops and restaurants, and the world-famous Stanley Park Seawall ...

606 939 Homer St, Vancouver, BC

February 4th, 2009

I just finished uploading this Condo for sale, 606 939 Homer St, Vancouver, BC

Dream investment: FULLY-FURNISHED, professionally managed rental with 3 year lease netting $1620/month increasing as high as $2480/month through 2011. This is the best cash-flowing rental investment you'll find. Prime Yaletown location in the popular Pinnacle. 455sqft 1 bdrm has single-wall enclosure (semi-studio ...