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Hosted by James Garbutt and Denny Dumas, top Vancouver Realtors that have facilitated over a billion dollars in sales, and have helped over a thousand families move. This podcast informs buyers, sellers and investors about what's happening in and around Vancouver's real estate market. Buy or sell with us! The Garbutt + Dumas Real Estate Team - Oakwyn Realty Ltd.'
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Whether it’s an up-and-coming area or a timelessly desirable community, certain neighbourhoods offer compelling reasons to invest—even during a down market. However, pinpointing these prime spots can often be a challenge. James and Denny share their list of the best neighbourhoods and talk about what makes them so special and why they picked them. …
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Vancouver remains the priciest city in Canada for renters, though rents for vacant apartments are gradually decreasing from last year’s peak. According to the latest rent reports, the average monthly rent for an empty one-bedroom apartment in Vancouver is now $2,690, a 4.6% drop from last year. James and Denny discuss what they're observing in the …
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The Bank of Canada has reduced its key interest rate by 50 basis points to 3.75 percent, marking the first cut of this size since the COVID-19 pandemic. This rate cut was prompted by the latest Canadian inflation report, showing the Consumer Price Index (CPI) dropped to a year-over-year rate of 1.6%, below the Bank of Canada’s 2% target range. Jame…
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Managing difficult conversations with real estate clients effectively is key to maintaining strong relationships. Staying informed about current market conditions and the factors that can cause deals to fall through is crucial for navigating these situations. James and Denny discuss how they handle delivering bad news, emphasizing the critical impo…
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As election day nears, the B.C. NDP and Conservatives remain divided on housing. NDP Leader David Eby warns that John Rustad's Conservatives would undo most of the NDP's housing policies, including Bill 44, a stance the Conservatives openly endorse. James and Denny share their thoughts on Bill 44 and discuss how housing will be affected depending o…
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The new CMHC rules will enable more homebuyers to qualify for mortgage insurance, potentially allowing them to secure larger mortgage amounts, and making homeownership more accessible. This includes 30-year amortization periods and mortgage insurance qualification for houses up to $1.5 million. James and Denny share their thoughts on these changes …
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As the fall season sets in, the real estate market is experiencing a noticeable slowdown, with lower-than-usual sales compared to previous years. Buyers and sellers alike are feeling the effects of shifting economic conditions, leading to more cautious decision-making and longer listing times. James and Denny discuss how they navigate slower market…
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To tackle the housing crisis, the Province implemented a series of legislative changes in the fall of 2023 with Bills 44 and 47. These changes permit small-scale multi-unit housing and increase density in transit-oriented development areas, ensuring more people can access homes within their familiar communities. James and Denny go over the new chan…
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The real estate market in Vancouver is showing signs of revival following a recent rate cut by the Bank of Canada, which has made borrowing more affordable for potential buyers. With expectations of more rate cuts incoming, experts anticipate further boosts in market activity and home sales in the coming months. James and Denny offer their personal…
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Unlocking Urban Growth: Small-Scale Multi-Unit Housing and Zoning Bylaw Changes in Vancouver
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As the June 30 deadline for amending zoning bylaws has passed, city governments in BC have detailed new construction permissions for single-family properties starting in July. James and Denny discuss the impact of these changes on Vancouver real estate from the perspectives of buyers, sellers, and investors. This episode will focus on new zoning by…
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Listings are up, pre-sales are down, and prices are easing in Vancouver's housing market. This shift indicates a cooling trend as more properties become available while fewer buyers commit to pre-sales, leading to a gradual decline in housing prices. James and Denny share what they see in this market and offer predictions on where things are going.…
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The Bank of Canada's recent decision to cut its overnight rate to 4.75% marks the first rate cut in over four years. The BoC indicates a shift in monetary policy aimed at easing financial conditions as inflationary pressures show signs of subsiding. This move is expected to have several implications for the real estate market in Canada. James and D…
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Acquiring a foreclosed property in Canada can offer substantial savings on a home or investment property. These properties are those that a lender has seized after the borrower failed to meet their mortgage obligations. James and Denny share their personal experiences with foreclosures and what the purchasing process looks like. This Episode will f…
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As per the BC Real Estate Association, the real estate market in the province is displaying indications of a rebound, although home sales continue to lag behind the 10-year average. Brendon Ogmundson, Chief Economist at BCREA, elaborated that while activity is increasing, home sales are still below typical levels, and home prices have remained rela…
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On Tuesday, the federal government announced its 2024 budget, committing to extensive new spending funded by fresh revenue sources. This year's federal budget is centred on three key objectives: increasing the availability of affordable housing, reducing living costs, and fostering economic growth that benefits everyone. James and Denny share their…
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Unlocking the value of your home or any real estate property you're considering buying or selling is a nuanced process that requires a keen understanding of the market. Denny and Monica share their personal experiences with evaluating homes and whether it's better to buy or sell your home first. This episode will focus on those looking to make a re…
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Recent legislative changes in British Columbia aim to address the soaring cost of housing, reflecting the province's efforts to tackle the persistent issue of affordability in the real estate market. Denny and Monica review the new policy changes and share their thoughts on how they will affect the Vancouver real estate market. This episode will fo…
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The current market is marked by high-interest rates and stagnant home sales, indicating a seller's market. Uncertainty looms large amidst these conditions, posing challenges for both buyers and sellers alike. Economic unpredictability adds another layer of complexity to the real estate landscape. Denny and Monica share what they are currently seein…
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With current properties being sold so quickly, a lot of buyers may be overlooking certain negative aspects of a home that in the past may have been major red flags in a sale. James and Denny discuss the reasons behind unpermitted renovations and share how buyers can gain valuable information regarding work done on a property before buying. This epi…
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As a prospective buyer in Greater Vancouver, navigating the real estate landscape can be challenging. The region remains entrenched in a competitive market where everyone is on the hunt for that elusive "good deal." However, finding such opportunities is increasingly rare. James and Denny outline four strategies for uncovering elusive deals and mai…
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At the beginning of January, the Canadian Real Estate Association voted in favor of adding a policy of a “Duty of Cooperation.” This policy requires realtors to put residential listings on its Multiple Listing Service (MLS) within three days of publicly marketing a property. James and Denny dissect the policy, offering insights into its potential i…
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Housing Minister Ravi Kahlon has presented a legislative proposal to promote the growth of small-scale, multi-unit housing within the province. The legislation mandates municipalities to change zoning rules to make building townhomes, multiplexes and laneway houses easier. James and Denny review the new changes and express their opinions on how the…
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2023 was a rollercoaster year for real estate marked by increases in interest rates and the implementation of several legislative adjustments aimed at addressing housing supply issues and promoting long-term rentals. James and Denny review key moments from 2023, shedding light on the latest legislative initiatives designed to boost housing availabi…
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If you're looking to buy a home for personal living or investment purposes, there's a chance it might be tenanted. In such instances, there are key considerations before finalizing your decision to purchase. James and Denny share their personal experiences with purchasing and selling tenanted properties and go over all the things you can expect. Th…
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The B.C. government introduced legislation with the objective of redirecting certain short-term rentals (STR) back into the long-term housing market. This initiative seeks to address housing shortages by repurposing some short-term rental properties to serve as stable, long-term homes for residents. James and Denny share their opinions on the chang…
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The Bank of Canada's decision to maintain its policy rate at a 22-year high of five percent has offered some respite to mortgage owners while increasing financial strain for other indebted Canadians grappling with higher borrowing costs. James and Denny share what they are seeing in the real estate world and how the rate hold is affecting people an…
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As interest rates rise, the real estate market in Vancouver is experiencing increased pressure. Houses, townhomes, and condos are responding differently to these changes, and various regions within Vancouver are being impacted in diverse ways. James and Denny discuss various cities and specific product types, sharing their observations and insights…
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In the world of real estate, few moments are as pivotal as the presentation of an offer on a home. Whether you're a first-time homebuyer or a seasoned real estate enthusiast, understanding the key elements and intricacies of crafting a compelling offer is essential. Denny and Monica go over writing an offer and the important details that you need t…
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In B.C.'s competitive rental market, landlords will soon be permitted to raise rents for existing tenants by 3.5%, up from the current 2% cap. This change, however, remains below the inflation rate for the second consecutive year, a shift from past policies that allowed rent increases based on inflation or inflation plus 2% prior to 2018. Denny and…
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British Columbia's housing minister has unveiled forthcoming legislation aimed at increasing housing density. The proposed laws intend to permit the construction of duplexes, triplexes, and townhomes on land currently designated for single-family homes, a move aimed at tackling the ongoing housing crisis. Denny and Monica go over the numbers BC is …
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As 30-year mortgage rates surge past the 7% mark, a significant number of current homeowners seem hesitant to sell their properties, fearing the prospect of acquiring a new, pricier mortgage. The combination of reduced housing inventories and elevated borrowing expenses has led to a prominent concern: home affordability, which is now a pressing iss…
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Buying a new construction home can be an exciting prospect, but it also comes with its own set of considerations and potential pitfalls. Whether you're a first-time homebuyer or an experienced real estate enthusiast, understanding the ins and outs of purchasing new construction is crucial to making a well-informed decision. Denny and Monica highlig…
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In the world of real estate, success stories are often celebrated, but failures can provide invaluable insights. Collapsed real estate deals happen and are more common than you think. Denny and Monica go into collapsed real estate deals, offering essential insights into not only understanding how these deals unravel but also proactively preventing …
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An upcoming change by real estate boards in Metro Vancouver and the Fraser Valley promises to bring slightly more transparency to bidding wars over properties in the region. Denny and Monica go over these changes and share how they will affect real estate transactions in multiple offer situations. This episode will focus on the "Disclosure of Multi…
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A Real Estate transaction is a delicate process with a lot of moving parts. Certain terms that appear on a contract can bring doubt to a buyer and even halt the transaction. Denny and Monica share how terms like "Special Levy," "Asbestos," "Bidding War," and "Subject free offer," can affect a real estate transaction and how they deal with these sit…
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Since 2016 municipalities in Greater Vancouver have seen a lot of change when it comes to real estate. The region has witnessed a multitude of developments, market fluctuations, and policy adjustments that have shaped the housing landscape. James and Denny summarize Greater Vancouver's real estate transformation from 2016 -2023 and go over the neig…
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Qualifying for a mortgage has become increasingly difficult in Canada due to the current prime rate of 6.95%. Because of this, the landscape of real estate financing has undergone significant changes over the past 18 months. James and Denny go over current financing numbers, and how much it is currently costing to borrow money. This episode will fo…
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Two weeks ago the Bank of Canada raised the policy rate by 25 basis points, surprising most as underlying inflation remains stubbornly high. James and Denny share how the rate increase has affected current home prices in Greater Vancouver and what they are seeing day to day as realtors. This episode will focus on the current rate hike and how it ha…
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Denny is once again joined by Nick Soldan as the two talk about investing options and opportunities in Whistler, BC. Nick and Denny go over Phase I vs Phase II zoning regulations and share what kind of property has the best value. This episode will focus on investment opportunities in Whistler, the difference between Phase I and Phase II zoning, th…
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Whistler BC is home to North America's largest ski resort and with that comes popularity and high property values. Denny is joined by Nick Soldan Harriss to talk about real estate in Whistler and how much people are paying to live there. This Episode will focus on Whistler real estate and current rent prices, demand between different seasons, low h…
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Alex joins Denny once again, this time to talk about all the options first-time home buyers have when trying to qualify for a mortgage. Denny and Alex share tips for first-time buyers and talk about the incentives provided by the federal and provincial governments. This episode will cover mortgage options for first-time home buyers, steps to achiev…
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Alex McFadyen is back with Denny to talk about presale completions and provide you with valuable insights on how to ensure you are well-prepared for this crucial phase. Denny and Alex go over the timelines for presale projects and the different rules with primary residence vs investment properties. This episode will cover how mortgages work with pr…
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What is currently going on in the home financing world? In this episode, Denny is joined by top mortgage broker Alex McFadyen to learn about the current state of mortgages. Denny and Alex talk about the impact of the current interest rates on borrowing and home prices. This episode will focus on the current state of home financing, a recap of the l…
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Although this episode was released last year, it still contains relevant and timely information that is significant today. When selling your home, it takes more than luck to get a buyer to make a solid offer. It usually involves careful planning and hard work to get the house ready to sell. Denny asks James questions regarding what steps he took to…
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As real estate prices keep rising, more and more home buyers are finding it difficult to purchase their first property. The government has introduced a few savings programs, but is it enough? James and Denny go over the four main programs the government has offered to first-time home buyers and discuss the pros and cons of each one. This episode wi…
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Canada's ban on foreign homebuyers came into effect on Jan 1st, 2023. The new measure bars most non-residents and foreign commercial enterprises from buying residential properties in Canada for the next two years. Recently a few changes were announced to the policy. James and Denny go over the new exceptions and share how they will directly affect …
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Market Update April: Bank of Canada's Rate Pause and the Current State of Single-Family Homes
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The Bank of Canada announced another rate pause and held its policy rate at 4.5% and the prime rate at 6.70%. Since the last hold, the Vancouver real estate market has seen an uptick in activity with buyers hoping the BoC is done with rate increases. James and Denny share what they are seeing in today's current market and go over what the rate paus…
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Welcome to "Getting to Know Your Realtor!" This will be a reoccurring segment where we introduce members of the G+D team, giving you a chance to get to know us better. Denny and Monica engage in a question and answer session to learn about each other's experiences and backgrounds in the real estate industry. This episode will focus on Denny and Mon…
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Following a sluggish winter, the Vancouver real estate market is beginning to show signs of recovery. With the bank of Canada pausing interest rate hikes properties are now attracting more attention and seeing more multiple offers. Denny and Monica share their personal experiences in a market shifting from a slow one to multiple offers being more c…
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Real estate appraisals are an important part of the process of buying or selling a property. They provide an estimate of the value of a property based on various factors and are often used by lenders. Denny and Monica share their thoughts on appraisals and talk about personal experiences with them in the past. This episode will focus on real estate…
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