Burnaby Condominium Market Is To Make A Comeback In 2014
As the 2nd slowest promotion of home because 1998, East Vancouver has actually watched a 31
percent decrease with only 1,649 home promotions in August of this year. This is a massive
comparison to the...
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Burnaby Condominium Market Is To Make A Comeback In 2014
As the 2nd slowest promotion of home because 1998, East Vancouver has actually watched a 31
percent decrease with only 1,649 home promotions in August of this year. This is a massive
comparison to the 2,378 sales during this moment last year.
The reason for a slow-moving market? In July of this year the federal government made a change
in home mortgage policies for the fourth time in 4 years. "Max amortization has been minimized
and the action is anticipated to create some response by the public," claims Umass Extension
Real Estate Agency ( http://www.umassextension.org/ ). New modifications to mortgage finances
have actually also added to the real estate stagnation as even more buyers are locating it
challenging to acquire a bank loan.
These new home loan policies are not relevant for residential properties with 4 units or less, home
mortgages with a 20 percent down payment, mortgage renewal, and multi-building building.
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