Luis Ayala Real Estate Newsletter - Edition 55 - March 2020 Edition

Luis Ayala - PREC* - Investment Real Estate Specialist

Metro Edge Realty

luis@luisayala.ca
604-551-4418
http://www.luisayala.ca/

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March 2020 Court Ordered sales

 

March 2020 - Port Coquitlam Detached
March 2020 - Richmond Detached
March 2020 - Surrey Detached
March 2020 - New Westminster Detached
March 2020 - North Vancouver Detached
March 2020 - Delta Detached
March 2020 - West Vancouver Detached
March 2020 - Coquitlam Detached
March 2020 - Gibsons Detached
March 2020 - Vancouver Detached
March 2020 - Burnaby Detached
March 2020 - Chilliwack Detached
March 2020 - Coquitlam Attached
March 2020 - Chilliwack Attached
March 2020 - Burnaby Attached
March 2020 - Langley Attached
March 2020 - North Vancouver Attached
March 2020 - Port Coquitlam Attached
March 2020 - Maple Ridge Attached
March 2020 - New Westminster Attached
March 2020 - Vancouver Attached
March 2020 - Surrey Attached
March 2020 - Richmond Attached

there is an increase an overall foreclosures/ court ordered sales since the last time i made this list. A lot of properties in the higher price points and in areas where speculation was obvious ( West Vancouver ) 

this trend will continue in my opinion because a lot of people bought homes in 2016-2017 and the prices have dropped since then, if you have deep pockets then you can ride this out if not then watch out... 

This is a general view, for a more detailed analysis of your current market contact me. 



Properties in this Sechelt, B.C. Neighborhood were once worth over $1M. They now cost $2

 

I could not imagine being the owner of these properties. Most people's net-worths are in their homes. 

It will be interesting to see who is responsible and who has to pay for this.  

The City? The Developers? Insurance company? Or Owners?

What a mess. 

What happened? Sink holes: https://bit.ly/2NP1EEm



Bank of Canada cuts interest Rates

 

Bank of Canada cuts rates in response to growing fears of economic downtown as a result of the Corona Virus. Canada is the last of the G7 nations to lower their interest rate. This along with the recent easing of the stress test should trigger further home buying activity. 

https://www.bloomberg.com/news/articles/2020-03-04/bank-of-canada-cuts-rates-50-basis-points-stands-ready-for-more



March 2020 - Multifamily properties Lower Mainland

 

March 2020 - Maple Ridge Multifamily
March 2020 - Ladner Multifamily
March 2020 - Chilliwack Multifamily
March 2020 - Burnaby Multifamily
March 2020 - Port Moody Multifamily
March 2020 - Mission Multifamily
March 2020 - New Westminster Multifamily
March 2020 - North Vancouver Multifamily
March 2020 - White Rock Multifamily
March 2020 - Richmond Multifamily
March 2020 - Vancouver Multifamily
March 2020 - Commercial Mulitfamily Lower Mainland

Multifamily properties create great opportunities to generate cash flow, usually occupy a large piece of land and have great redevelopment potential and through commercial financing allows flexible lending options. Here is a list of Multifamily homes throughout the lower Mainland that are currently available. Get on an custom automated list direct to your email, just ask : )



Strata Insurance A Big Story in 2020

 

There is much to be concerned about when it comes to recent news regarding strata insurance in the BC market. Some strata corporations are not being offered insurance at all, some have seen their premiums increase by several hundred percent, some have seen huge increases in their deductibles and some are relatively unchanged.

Until recently there has not been much in the way of official press releases from the insurance industry, and just this week the Insurance Brokers Association of BC provided a comprehensive document outlining why we have a problem and how it is affecting strata corporations. I encourage current strata owners to have a read of the article, and share this with anyone you know that is either planning on buying a condo or selling their condo.

INSURANCE BROKERS ASSOCIATION OF BC



First steps to developing a Rental Building

 

Hard work pays off! 

Through numerous hours of research, feasibility reports, due diligence and calculated decisions our Investment group in collaboration with some great Partners are excited to develop a Rental building in beautiful Mission BC! 

There is big demand for rental housing in BC and our group is looking to fill that gap. We are in the early stages of planning and will keep you in the loop as our project advances. Stay tuned 



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