The Vancouver Life Real Estate Podcast

Qualifying for multiple mortgages can be a complex and challenging process. It requires a thorough understanding of the mortgage industry, as well as the financial requirements needed to secure more than one mortgage. For individuals who are interested in purchasing multiple properties or refinancing existing ones, seeking the help of a mortgage professional is essential.

A mortgage professional who specializes in this area can prov...

The collapse of SVB, the 15th largest regional bank in the US, sent shockwaves through the financial industry in March 2023. The bank announced on Wednesday that it was attempting to raise $2.25 billion and complete a $21 billion asset sale to overcome the difficult situation it found itself in after rates accelerated by 450 basis points over nine months. However, by Thursday afternoon, reports emerged that there was a $42 billion ...

Applying for a mortgage can be a daunting task, and it becomes even more complex when you run an incorporated business. As opposed to an individual, the income earned by a corporation is treated differently by lenders. If you are self-employed and have incorporated your business, you may find it challenging to obtain a mortgage as many traditional lenders are not familiar with this structure. Therefore, it's essential to work ...

The news across the nation this week was that the Bank of Canada came through on it’s word and held interest rates at 4.5%. This is the first time in a year that the Bank of Canada took it’s foot off the break and gave all variable rate mortgage holders a sigh of relief. As interest rates begin to stabilize and the bank of Canada moves to the sidelines, it’ll be interesting to see how the market responds. Typically this time of the...

We are extremely excited to have interviewed the creator of eXp Realty and on this episode we hear about how the home buying and selling experience is evolving and how the first ever digital brokerage is shaping the future of real estate.  

A bit about Glenn:

Glenn Sanford is the founder eXp Realty, CEO of eXp World Holdings, Inc. and Chief Strategy Officer for VirBELA. 

After being involved with a number of internet start-ups in the ...

One of the biggest concerns that home buyers have when they're considering purchasing a new home is how much money they need to have on hand. It can be a daunting task to figure out how much money you'll need, especially if you're a first-time homebuyer.

In this episode, we explore all of the home buyer options when it comes to this very important question. For instance, many people may be surprised to learn...

Vancouver home prices increased in February for 1st time in 9 months. Does this mean we’ve hit the bottom and headed back up? Slow down - not yet! One month does not make a trend but it does help further reinforce that our stagnant levels of inventory are causing all kinds of pain for Buyers - this plus the combination of higher rates is setting us up for could be an interesting spring market. 

We are already hearing stori...

How to access the equity in your home:

This week we explore how to access the equity that exists in your home with Mortgage Specialist Mychal Ferrera. It's something that exists for many people who own property and learning how to unlock and use this to your advantage could be the difference in creating serious wealth. 

For example, did you know that you can access up to 80% of the equity in your home and reu...

The roller coaster ride that is now the Canadian 5 year bond jumped another 50 bps in just the last 2 weeks with bond yields above 3.6% for the first time since early November! Why does this matter? It’s the best indicator we have for what’s going to happen with fixed mortgage rates which had briefly come down to into the mid to high 4% range but now back into the mid 5% range and higher.

This jump in the 5 year bond was k...

Did you know that you can pre-qualify for a mortgage on a pre sale condo?   You can, and up to 3 years in advance.     

There are a number of very compelling reasons why this is a good idea too.   Firstly, you can lock in at today's rate, meaning that if rates increase, you benefit from the previously lower rate.    And should rates go down, you can qualify at those lower rates now too.

Secondly, and possibly...

There’s an information battle going on with what we’re reading in the news compared to what we're actually seeing take place on the ground. There appears to be two very different stories emerging. With recent news articles from the financial post, stating that economists at Oxford Economics believe we are only halfway through the housing price correction - quote: “Prices are already down 14% since the peak in February - and wi...

This week we jump into a great conversation with Ryan Andrews of PCL Construction’s Infrastructure Manager for the BC Region along with serial entrepreneur, real estate investor and co-owner of the Penticton Speedway, Mr Ingo Seibert. The purpose of this weeks episode is to gain an understanding of what billion dollar corporations are seeing, why they believe in the region and why they are continuing to help the province build the ...

Well the numbers are in and January is already the first of twelve chapters already done for 2023. January was a very slow month not only just in volume of sales but also in terms of overall inventory. With only just over 1,000 sales this month, sales volume numbers were dismal at best and represented a 55% drop from the same time last year. Important to recognize though that this time last year was nearly the peak of the market be...

This week was all about macro economics as we looked at how the BoC raised rates again by 0.25% and we also assess the forward guidance provided by Tiff Macklem. Can we expect to see the BoC hold rates at the next announcement? Have they done enough to curb inflation? We also evaluate their credibility considering the last year, and will they achieve their inflation target given the respective timeframes? 

We have also recognized th...

It’s becoming more and more clear that the Bank of Canada is nearing the top of its current rate hike cycle as the latest inflation print showed real signs of slowing, down 0.5% to 6.3%, a welcome reprieve considering the last 9 months. However that likely won’t change the outcome of next week’s rate hike which will almost certainly come in at 0.25% -  a number largely baked into today’s economy. 

We also take a look at so...

This week was a good week in real estate, and the financial markets reflected a similar sentiment as US inflation data printed lower at 6.5% - down from its previous mark of 7.1%. 

This was the largest drop since July 2022, and was mostly led by lower fuel prices. This trend continues its 6th month decline as Inflation is now back to Oct 2021 levels; however core inflation remains sticky as it increased by 0.3%, totalling 5.7%.

In th...

The stats are in for the last month of 2022 and while we know activity is low - we didn’t know it would be one of the lowest activity months ever recorded. Without a doubt Buyers and Sellers are digging in their respective heels to get what they want in this transitioning marketplace. Buyer’s are making the case for lower prices through tougher affordability and Sellers are still attached to the market that was here at the start of...

It’s customary here at The Vancouver Life  Real Estate Group, that at the end of every year we make predictions about how our Real Estate market will pan out in the year to come. 

This week we cover what we believe could be the major economic drivers and potential economic landmines for the real estate industry in 2023. Plus, we make our price predictions about where the value of real estate will go throughout the GVRD in 2023.
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What a crazy year! Nothing tells the story of 2022 better than comparing the predictions we made at the start of this year with how they actually turned out. While we nailed a few predictions, we also had some significant misses as we review the year.

Historically, this episode is always a lot of fun but especially this time around as no one saw the extreme change in headwinds coming like the Bank of Canada did.  Yes, we e...