Blog by Imran Ali

Tiny lenders chop rates to grab mortgage customers

February 24th, 2015
Rates have dropped and that means better deals on mortgages. The big banks have dropped discount rates to an average of 2.79% on a 5 year mortgage.
Meanwhile the smaller lenders are hungry for more business so they're cutting profits to compete on lower rates.

Mortgage Brokers are also taking cuts on commission to compete in the race to the lowest rate:

The rate war is even more intense among mo ...

Latest Bulk Condo Discounts

April 10th, 2009

Latest Bulk Condo Discounts

Another new home price cut incentive is be launched next week by MAC Real Estate. Price reductions are at Intergulf's Cora condos in Coquitlam; Embassy's Legacy towers in Burnaby, and Amacon's Edgebrook in Abbotsford. Legacy and Cora projects are complete. The Edgebrook is an interesting situation: the building has not been pre-sold though it is 90% complete.

He ...

Presale Condo Price Cut Could Start A Trend

April 10th, 2009

Presale Condo Price Cut Could Start A Trend

When Anita Wan got a call from Amacon three weeks ago, she feared the worst regarding her condo purchase at The Beasley in downtown Vancouver. Instead, she was told that the price on the one bedroom condo she had bought as a pre-sale a year ago for $430,000 had been reduced to $309,000. "It is a great deal now," Wan said. Indeed. In what could trig ...

Home owners to use reno tax credit for ‘practical projects’

March 5th, 2009

Homeowners will likely spend more money to improve energy efficiency and less on high-design esthetic renovations under the new federal home-renovation tax credit, says a new report.

Scotia Economics’ latest Real Estate Trends report also forecasts further slowing of sales and price declines through 2009.

“The economic environment, the financial market environment is generally not conducive ...

Majority believe it's a good time to buy real estate in B.C.

March 5th, 2009

VANCOUVER — A growing number of British Columbians think this is a good time to buy a home, though most say it isn’t a good time to sell, a new Ipsos Reid poll has found.

The poll found that some 71 per cent of respondents said it is a somewhat good or very good time to buy real estate.

In November, only 60 per cent of respondents told Ipsos Reid it was a good time to buy.

In the latest ...

We are different, and here's the latest demonstration

March 5th, 2009

''I'd be safe and warm, if I was in L.A.''

- California Dreamin', by the Mamas and the Papas

Homeowners in the Golden State might be safe and warm, but the only dreamin' they are doing these days is daydreaming about selling their homes. Statewide, sales are down 63 per cent from a year ago.

A long-time colleague, Bob Rivinius of the California Building Industry Association, reports that ...