It feels like spring is upon us! Sellers seems to be listing as well, and it looks like our spring market might finally be coming into full swing.
There are a few factors that might impact our spring market this year, but one of the biggest ones might be Finance Minister Bill Morneau’s announcement earlier this week about changes to the mortgage stress test. The benchmark was set at 5.19% back in 2018 but that will change in April to the weekly five year fixed insured mortgage rate plus 2%. This will give buyers a bit more purchasing power and is more in line with market conditions. So a positive for any buyers out there! If you need any referrals to some great brokers please let me know.
Below are two open houses in Olympic Village this week. If you find yourself out and about, be sure to check these out. Both hail from 2010 and were part of the original concept of the Olympic Village. Both of these locations offer the ultimate urban experience; access to the sea wall, transit lines, restaurants, Main St, breweries…the list goes on!
608 123 West 1st Ave– Compass at the village by famed architect Arthur Erickson. This one bed plus flex room features 9’6 ceilings, Miele appliances, gas range and a spa bathroom. Open house- Sunday February 23rd from 2-4pm.
One parking spot
Amazing fitness facilities
Pets allowed with restrictions, rentals allowed
Listed for $668,800 by Sutton Group 1st West Realty
406 77 Walter Hardwick Avenue- A unique one bed and den with gorgeous mountain and downtown views at Kayak. Quartz countertops and Miele appliances add to luxuriousness of this special unit. Open house- February 22/23rd from 2-4pm.
1 bed + den
One parking spot
Pets and rentals allowed with restrictions
Listed for $959,000 by eXp Realty
SOLD! 1006 1788 Columbia Street sold above list price in one week.
I’d love to connect and chat- feel free to reach out anytime- [email protected]