Brendan Connolly

Vancouver Real Estate: Westside, Eastside & Downtown

Residential Real Estate Consultant
RE/MAX Select Properties  604-833-8793

Brendan Connolly's posts

Westside, Downtown & East Vancouver real estate updates and tips for buyers, sellers & owners of residential property.

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Home sale and listing activity dip below historical averages in October

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VANCOUVER, BC - November 2, 2016 - Reduced home sale and listing activity are changing market dynamics in communities across Metro Vancouver*. Residential property sales in the region totalled 2,233 in October 2016, a 38.8 per cent decrease from the 3,646 sales recorded in October 2015 and a 0.9 per cent decrease compared to September 2016 when 2,253 homes sold. Last month’s sales were 15 per cent below the 10-year October sales average. “Changing market conditions compounded by a … [Read more...] about Home sale and listing activity dip below historical averages in October

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Daylight saving ends – check your smoke alarm

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Daylight Saving Time (DST) ends at 2:00am on Sunday, 6 November 2016 and begins again on Sunday, 12 March 2017. The seasonal change is a good time to coordinate changing the batteries in your smoke alarm. Statistics show that, on average, fire kills eight people each week in Canada. Residential property fires account for 40% of all fires and a staggering 73% of all fire deaths. (Source: Fire Prevention Canada) BC Fire Code requirements for smoke alarms Every dwelling unit – new, … [Read more...] about Daylight saving ends – check your smoke alarm

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Oil tank detection and removal in Vancouver

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Underground storage tanks and all associated pipe connectors that have been out of service for one year require action to reduce the risk of leaking flammable or combustible liquids into the surrounding soil. Property owners must take remedial measures to retrofit the tanks by either removal, or neutralizing the tanks for contamination if removal is not feasible. The City of Vancouver website has some excellent information regarding the … [Read more...] about Oil tank detection and removal in Vancouver

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Home buyers and sellers face changing market dynamics

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VANCOUVER, BC – October 4, 2016 - Metro Vancouver* home sales dipped below the 10-year monthly sales average last month. This is the first time this has occurred in the region since May 2014. Metro Vancouver home sales totalled 2,253 in September 2016, a decrease of 32.6 per cent from the 3,345 sales recorded in September 2015 and a decrease of 9.5 per cent compared to August 2016 when 2,489 homes sold. Last month’s sales were 9.6 per cent below the 10-year sales average for the … [Read more...] about Home buyers and sellers face changing market dynamics

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Talk Vancouver: Your direct connection to City Hall

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I recently discovered Talk Vancouver, where the City of Vancouver invites residents to participate in online studies and discussions to hear your ideas. Current studies include: Empty Homes Tax - Emerging Approach 800 Robson (Viva Robson) People, Dogs, and Parks Strategy Vancouver's Zero Waste Strategy It's easy to sign up and participate. Just go to www.talkvancouver.com, register and answer a few questions about your interests and connections to the city. Following that, … [Read more...] about Talk Vancouver: Your direct connection to City Hall

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Breathe! And get a home inspection

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One would think that the pace of the home inspection industry runs in parallel with real estate sales. Inspectors should be as busy as real estate agents, right? Surprisingly, no. The quest for securing a home in Vancouver has been so competitive lately that all common sense has flown out the window and many transactions take place without an inspection. While it’s understandable given the frantic pace of the market, making such a large investment without a professional home inspection is risky … [Read more...] about Breathe! And get a home inspection

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Additional 15% Property Transfer Tax for foreign entities

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Recent legislation providing for an additional Property Transfer Tax of 15% on residential property transfers to foreign entities in the Greater Vancouver Regional District has caught the real estate industry off guard. The retroactive tax which will be applied to contracts completing from 2 August 2016, has inadvertently affected skilled workers and those who are in the process of immigrating to Canada. Calls to exempt accepted agreements have been ignored by the government. Dan Morrison, … [Read more...] about Additional 15% Property Transfer Tax for foreign entities

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End of self-regulation in the real estate industry

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The real estate industry has certainly been in the spotlight lately. The much awaited Final Report of the Independent Advisory Group was published last week. The next day the BC Government announced their intention to end self-regulation in the real estate industry and to establish a dedicated Superintendent of Real Estate. Statements by REBGV, RECBC, and BCREA fully support this change in order to restore public confidence in the industry. There is also an initiative taking place to … [Read more...] about End of self-regulation in the real estate industry