BCREA reports that a total of 4,977 residential unit sales were recorded by the MLS® in September 2022, a decrease of 45.8 per cent from September 2021.
Posts tagged with “Mortgages”
Economics BC Market Activity Remains Subdued in September 
Economics BC Housing Market Showing Signs of Stabilizing Despite Decreased Activity
BCREA reports that a total of 5,645 residential unit sales were recorded by the MLS® in August 2022, a decrease of 40.8 per cent from August 2021.
Economics BC Home Sales Continue to Slow in July
The British Columbia Real Estate Association reports that a total of 5,572 residential unit sales were recorded by the Multiple Listing Service® in July 2022, a decrease of 42.4 per cent from July 2021.
Economics High Mortgage Rates Keeping Potential Buyers Sidelined
BCREA reports that a total of 7,136 residential unit sales were recorded by the MLS® in June 2022, a decrease of 35.7 per cent from June 2021.
Economics Rising Mortgage Rates Continue to Slow Market Activity
BCREA reports that a total of 8,214 residential unit sales were recorded by the Multiple Listing Service® in May 2022, a decrease of 35.1 per cent from May 2021.
Economics BC Home Sales Trending Toward Normal Activity
BCREA reports that a total of 8,939 residential unit sales were recorded by the MLS® in April 2022, a decrease of 34.9 per cent from a record April 2021.
News Releases Too Tight? The Impact of Bank of Canada Tightening on BC Housing Markets
The latest Market Intelligence report explores both the historical impacts of the Bank raising its policy rate and a number of scenarios likely to play out in BC’s housing market as a result.
Legally Speaking Life Lease Housing and Seniors (continued) #352
There are several models for life lease housing other than the one referred to in Legally Speaking 351…
Legally Speaking Mortgage Loan – Life Insurance Unavailable On Renewal; Liability Of Mortgage Company #348
It is a common practice for a mortgage lender to offer to sell homeowners life insurance sufficient to pay the principal amount of…
Legally Speaking Shopping Centre Lease – Injunction to Prevent Landlord from Demolishing Mall; Appraiser’s Failure to Red Flag Inexact Comparables was Negligent #345
The arrival of the “big box power centres” should lead owners or property managers of existing, enclosed mall shopping centres to reexamine their…
Legally Speaking Title Insurance – Part 2 of 3 #322
A lender’s policy, whether residential or commercial, contains the basic risks plus a broader coverage than is provided in the buyer’s…
Legally Speaking Fictitious Mortgages – A Mortgage Broker’s Nightmare #306
The diligence of an employee of a mortgage broker, and the suspicions of a bank customer service representative, helped to stop the activities of a criminal who…
Legally Speaking Sellers Take Back Part II of Mortgage #262
As anyone who has recently signed a mortgage will know, computerization of the Land Title Office has resulted in a mortgage consisting of two parts…
Legally Speaking Commission Cases #191
The importance of the exact wording of the terms of a listing contract from which an agent expects to obtain a commission are illustrated in recent decisions of the B.C. Court of Appeal and the Manitoba case which…
Legally Speaking Norfolk v. Aikens #155
This decision of the British Columbia Court of Appeal led to the distribution among the boards of a two-clause addendum to the Standard Contract of Purchase and Sale…
Legally Speaking Soil Contaminated Sites #138
What do gas stations with underground tanks, sawmills, pulp mills, paint manufacturing shops, dry-cleaners, shipyards, truck parking yards for moving or fuel companies, junkyards, farms and…
Legally Speaking Interest, Prime + 2%; Vendor Take-Back Mortgage; Residential Mortgage or Residential Agreement for Sale #130
An offer to purchase a commercial building was subject to raising a first mortgage at a rate of interest no more than “C.I.B.C. prime plus 2%.” The Commitment letter from…
Legally Speaking Residential Mortgage or Residential Agreement for Sale – Limitation of Liability Under #125
The recession of the early eighties left many purchasers of homes unable to make the monthly payments under the mortgages they assumed when they…
Legally Speaking Residential Mortgage or Residential Agreement for Sale – Continued; Negligence, Liability of Owner/Employee of a Limited Company #126
Column 125 discussed how a mortgagor may be able to limit liability under the personal covenant of the mortgagee, upon the sale by the mortgagor…
Legally Speaking Satisfactory Financing #121
Relief is in sight. This column is about a B.C. Court of Appeal decision which will make the addition of a conditional financing clause less of a hazard…
Legally Speaking Bank Foreclosure – Customer Rights; CMHC Guarantee – Negligence #114
Financial institutions often demonstrate a casual if not contemptuous disregard for requests for pay-out statements or delivery of an executed discharge of a mortgage…
Legally Speaking Financing Clauses – "Satisfactory Personal Financing" – Uncertain #110
Adam B. Able, the affable agent/owner of the Point Grey Wreck Beach Real Estate Agency, was in his office balancing his accounts payable against the sales…
Legally Speaking Property Purchase Tax Act and Other Odds and Sods #104
The Property Purchase Tax Act, although it has only received first reading, is here to stay.
Legally Speaking Interest Clauses – Uncertain and Unenforceable #100
What do the following three clauses have in common…
Legally Speaking Mortgagee Entitled to Six Month’s Interest in Lieu of Notice #99
Mary borrowed $100,000.00 from Joe in August, 1983, which she agreed to pay with interest at 11% in monthly installments over a period of one year…
Legally Speaking Condominium Act, Municipal Act, Social Service Tax Act #98
These three Acts proclaimed by the Legislature in Victoria may contain a number of booby traps waiting to explode in the face of the unwary, but each contains at least one…
Legally Speaking Marketing – Another Product? #91
For some years Victoria has had double the average population of Canadians over the age of 65 years, the result, of course, of its incomparable beauty and moderate climate….
Legally Speaking Locked-in Mortgage – No right to prepay #84
There must still be some high interest mortgages in force because I have received several calls from licensees asking for an update of columns 38 and 39 in which the question of whether or not a locked-in mortgage…
Legally Speaking Double Interims – A “No, No” #77
Despite the creative lending practices of a few financial institutions, such as the Crown Trust and the Canadian Commercial Bank, licensees rightly perceive that the majority of mortgage lending institutions insist…
