Daily Drama

No Drama

A cumulative snapshot of the Daily numbers from the Vancouver Real Estate Board passed without drama!

Daily Review

REBGV daily activity of New Listing,Back on Market, Price Changes and Sold Listings didn’t stray from the track. Consistent it was in the days March 15 to March 19.

Things To Remember

April 9 is an important date for self employed people. CMHC’s new mortgage rules will have a dramatic affect on you. If you are considering purchasing property, make certain that you ‘pen the deal’ before that date or you may find that you will not qualify for the mortgage.

**Check in with your lender or broker to be clear on this rule change.

For those who are looking for something to snark about this also means many Realtors will not be able to buy property as they too are considered self employed.

About Larry Yatkowsky

Larry is a recognized real estate expert. A veteran professional, his experienced counsel leads Vancouverites in his west side community to place their trust in a man passionate about his work. Uncompromising ethics bring a balanced approach to realizing your real estate dreams.

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*Disclaimer: Statistics Courtesy REBGV. While believed to be accurate they are not guaranteed.
**Numbers provided may vary as they are dynamically posted by the REBGV.

Reader Comments:

vomitingdog Says:
March 21st, 2010 at 9:25 pm

“… make certain that you ‘pen the deal’ before that date or you may find that you will not qualify for the mortgage.”

Woof! You mean a change from 95% to 90% loan to value will impact buyers in Vancouver? Do tell, Larry.

Exactly how many self-employed people have you seen carrying a 95% mortgage on a condo, house or townhouse? If that’s the case, maybe the bust is in the cards after all!

March 21st, 2010 at 9:46 pm

– don’t recall saying what the impact will be. I’ll leave that for you to conjure. The rule change re declared income for the self employed is however, meaningful.
– BTW, there are none that I’m working with who have qualification problems but, that is not to say it won’t be a problem for others.

John Says:
March 22nd, 2010 at 9:56 pm

Logarithmic scale? Come on! Only science geeks can use those (and even I can tell you are using it wrong). Try linear next time – the real picture will be revealed.

March 22nd, 2010 at 10:03 pm

– re “logarithmic scale” – got a quarter?

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