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Eight months and counting, the Fraser Valley has set yet another record for monthly home sales in April, beating a streak previously set during the boom times of 2015-16.
But there seems to be a new calmness in a real estate market that has recently been so hot that it’s drawn the worried attention of bank economists, credit analysts and national policy-makers.
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“We are still seeing multiple-offers situations, but instead, for example, of 10 to 20 offers, it’s sometimes only two or more offers that come in,” said John Corrie of Abbotsford, who’s been a real estate agent since 1967.
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Adding more rental properties has become a popular mantra for some developers. The latest to infuse this into plans is Bosa Properties CEO Colin Bosa, who is looking to create hundreds of new rental units across various sites in Vancouver, Burnaby, Squamish and Surrey.
“Quite frankly, we saw the market (for presale condos) potentially slowing down last year,” said Bosa.
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“We’re really interested in keeping our people employed. (Building rental) allows for some diversity of earnings so that we can ensure there is work for our employees because that was something that was top of mind for us as we’re going through COVID.”
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A new listing on Bowen Island is causing a stir for its ocean-front land of 137 acres and its bucolic, working farm. It is the first time in nearly 60 years that the property, known as Endswell, has been for sale.
It has a remarkable history, which includes a rickety cabin built in the late 1890s, Canadian author Ethel Wilson, the University of B.C. medical faculty, and the memories of a Vancouver family.
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Two popular road trip pit stops, one a Horseshoe Bay café and the other a diner in Hope, just scraped by on the first weekend of business following the introduction of new travel restrictions in B.C.
“Since Friday, it’s been really, really slow,” said Samantha Rosas, an employee at the Good Karma Cafe, which runs a take-away window inside the B.C. Ferries terminal at Horseshoe Bay.
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