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The Real Estate Board of Greater Vancouver REBGV brings us an update on the dramatic increase in strata insurance, and the changes made by the BC Legislature.  

BC Strata insurers to end ‘best terms pricing’

When news of skyrocketing insurance premiums for strata developments emerged at the beginning of the year the province tasked the BC Financial Services Authority (BCFSA) to investigate in search of solutions. The BCFSA is the agency responsible for regulating the private insurance sector in the province.

In June, BCFSA issued an interim report, which found that a practice known as ‘best terms pricing’ had contributed to premiums increasing an average of 50 per cent in Metro Vancouver. A subsequent report found that 94 per cent of sample…

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November Whistler Real Estate Analysis

 

 

It's a Sellers Market
Simple supply and demand.
Little supply.  BIG demand.


Active listings continue to go down 
The number of sales keeps going up
The average and median sales prices keep going up
List prices are being corrected to match buyers perceived market value

 

What does this mean for buyers?

I have said for many, many years, the right time to buy is when you see your perfect property.  Now, no property is absolutely perfect.  It could be in the right location.  Has the number of bedrooms & bathrooms you need to fit your family.  All the amenities you want.  

But maybe it needs new paint.  New furniture.  The kitchen and bathroom are outdated.  You are wondering if you are going to pay too much.

Relax ....  take a step…

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