The Bank of Canada this week announced that changes to the benchmark qualifying rate, commonly known as the “stress test” will be coming and effective as of April 6th of this year.

The Stress Test is a measure implemented by the Office of the Superintendent of Financial Institutions to ensure home purchasers are able to fulfill their commitments throughout the term of the mortgage despite possible rate increases.

To date, this has been done by requiring the consumer to gain approval at the higher of (a) the big banks’ posted 5-year fixed mortgage rate or (b) their negotiated rate +2%. In the great majority of cases, this was the 5-year fixed mortgage rate.

As of April 6th, 2020, the stress test will now not be affiliated with the posted rates. The new benchmark qualifying rate will be determined weekly by finding the median 5-year mortgage...

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This years Visual Arts, Design and Crafts Festival known as the Eastside Cultural Crawl begins today, November 15th at 5pm!

This is the 21st edition of the annual Eastside Cultural Crawl in which local artists and tradespeople open their studio and shop doors to showcase their passions to the public. You'll find all sorts of incredible Vancouverites from painters, jewelers, furniture makers, weavers, potters, photographers, glassblowers, sculptures, printmakers, woodworkers and more.

The shops and studios open to public are within the area of South to North from 1st Avenue to the Waterfront and East to West from Victoria Drive to Columbia Street. The organizers have created a fabulous web app that allows you to view an interactive map that pinpoints all the Crawls participants. Here is a look at the print version but I recommend you check out this site...

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Downtown Vancouver Condo Market

The Downtown core of Vancouver saw more sales in August than we got in July while the inventory dropped to its lowest level since April this year.
Downtown, Yaletown and The Westend ended the month in Sellers Market territory with Sales-to-Active listing ratios from 24% to 28% thanks likely in large part to the near 10% drop in inventory.
Condos in the Downtown core priced under $800,000 are clearly the most desirable and saleable product in todays market. This would explain why Coal Harbour is the cores slowest moving market through August with 13 sales and a balanced market Sales-to-Active listing ratio of 14%.
As for the most desired type of unit in the Downtown it’s clearly the studio and 1-bedroom homes as this class is the only in Sellers Market territory making up over 50% of all...
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There were seven properties reported as sold across Vancouver East this past week ending August 31st. 

Highest Sale Price for the Week

  • Fraser - Riley Park
  • Sold near $2.4 million
  • 33 foot frontage
  • Near 3,400 sq ft lot
  • 7-year old custom built
  • Slightly over 2,200 sq ft livable
The high sale for the week was within the Fraser sub-area just a few blocks off Main Street in a neighbourhood commonly referred to as Riley Park. Within a week of being on the market the home achieved a sale just above asking and just over $2.4 million. 
This was a beautiful, modern design, custom built home just seven years old in a fabulous location. With a shade over 2,200 square feet of living space, 2 bedrooms above the main and a legal 1-bed basement suite, features such as heated concrete floors and mountain views from the rooftop patio,...
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Fraser Commons by Serracan 

Marketed by Rennie Marketing Systems

Located at the North East Corner of Fraser street and Southeast Marine Drive Fraser Commons will be a group of 4-buildings including 363 residential homes.

  • Four Buildings located on the North East corned of Fraser St and SE Marine Dr.
  • 363 Residential Units (192 of which are 2+ bed)
  • 5 to 21 Storey Buildings.
  • 37-child Daycare
  • 20,000+ Square Feet Retail
  • 319 Residential Parking Stalls
  • 492 Residential Bike Stalls
  • 1,500 Sq Ft Neighbourhood House
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Adam Goss
Direct: (604) 256-3637
Office: (604) 678-3333
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