Mortgage Stress Test Stress: Here's What It Means For You

Posted on Nov 12, 2019

You have heard about it in the news: the mortgage stress test. It sounds kind of scary and foreboding, but what does it really entail? This week on #CondoTipTuesday we're talking with Anna Price with The Mortgage Group about how this all impacts you, the consumer.

What is the Stress Test?

Homebuyers in Canada are now required to undergo a mortgage s...

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Market Research: Don't Disregard Those Stats!

Posted on Nov 05, 2019

It’s that time again! Not only is it #CondoTipTuesday but also it’s time to talk about how the market did last month.

One of the biggest tips we can ever give you is to do your own market research. These stats are a great way to get a baseline for the sliver of the Victoria real estate market you’re looking to hop into. On top of that, the whole rep...

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I Have the Depreciation Report - What Now?

Posted on Oct 29, 2019

Most condo buyers these days have heard of a Depreciation Report (DR). Introduced in 2011, we have now had eight good years of DRs in Victoria and have come to expect them when we get the strata documents from a Strata Corporation. 

When I send over strata documents to one of our buyers, they usually look at the DR first. Then I usually get an email...

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The Best Deal in Victoria Is...

Posted on Oct 22, 2019

...Not based on price. Is that the answer you were expecting? Almost weekly, I can guarantee that a new buyer client will ask me to show him the best condo deals in Victoria. I am always happy to do so, but the buyers quickly learn that my idea of a deal is a little bit different than their idea.

Most people think that the best condo deal will be th...

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Wait, Where is My Parking?!

Posted on Oct 15, 2019

One of the most common misunderstandings that we see in the condo industry is parking.  Most people have an idea of if a specific unit comes with parking or not, but the different distinctions of parking can mess people up a bit.

We have heard of many buyers that were surprised to find out that the parking stall they thought they had with their unit...

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One of the most overlooked parts of a condo transaction is...

Posted on Oct 08, 2019

If you have ever purchased a condo for sale in Victoria, you would have likely been given a set of documents about the condo building called strata documents. 

In any strata purchase, these documents are incredibly important. The proper name for a "condo building" is a "strata corporation." As the name suggests, it is actually a fully functioning co...

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