Real estate prices rise, but demand may be waning

On Behalf of Porter Ramsay LLP | Nov, 18, 2020 | Real Estate Law

Demand for single-family homes may be waning in the nation’s Pacific province. It’s true that real estate sales in British Columbia were significantly up this year from 2019 — up by more than 43%; however, deals this past September came in at 11,368, which is 2.8% lower. British Columbia Real Estate Association’s (BCREA) chief economist believes this drop could mean that pent-up demand is beginning to show signs of waning, even though the job market and sales are still showing strength. The real estate market was incredibly active in British Columbia this past October, with the average price of a... View Article

Is signing up for a pre-existing condo a good real estate move?

On Behalf of Porter Ramsay LLP | Nov, 05, 2020 | Real Estate Law

Property has always been a wise investment. In British Columbia, however, there may be better times to purchase real estate. Some people have gotten on the bandwagon to purchase pre-sale condos, which have gained popularity over the last few years. But in light of the current situation economically, is now a good time to buy a pre-sale condo?  A financial planner with Foundation Wealth says sticking to the pre-existing condo market may be a better move than signing on the dotted line for a pre-sale. He says there are a number of reasons for that rationale — primarily the premium... View Article

Keeping safe during a British Columbia winter

On Behalf of Porter Ramsay LLP | Nov, 05, 2020 | Uncategorized

It’s that time of year again. Colder weather brings snow, ice and other road dangers that you need to remain aware of as you drive British Columbia’s roadways. With everything that has gone on in 2020, it might be a good idea to review some of the steps needed in order to remain safe during a normal part of life here in Canada — preparing for winter driving. Important preparations and driving habits Avoiding an accident often requires two things: Your ability to control your vehicle and the ability of other drivers to see you coming. Icy intersections, snow, slush... View Article