Urban Vancouver

when a dream becomes real

By jlyon on August 10, 2007 - 1:11pm

My Real Place is a newly launched community website focused on the Real Estate market.

We created My Real Place to provide consumers with access to real estate information and to have a degree of control in the realty process.

I was frustrated with what was out there to help me buy my own place and thought we could do better. I wanted to bring all aspects of the real estate market together - listings, realtors, mortgage brokers, contractors etc and do it in a novel, intuitive and easy to use way. To be able to ask questions on my own terms and in my own time, to find out easily who's selling what and where.

It's early days yet but we seem to be getting a lot of interest from people who seem to like it. We think it's awesome but I guess we would say that.

We currently have over 15,000 property listings, over 4,000 realtors and other realty professionals. We're getting over 2,000 people a day on the site so I guess we must be doing something right. We hope to roll out across Canada in the next few months so it's exciting times.

If you get chance, check it out and let us know what you think. Stop by and say hi.

Cheers

Jonathan
Co-Founder

My Real Place

Genworth: Higher house prices into 2011?

By ebizniz on June 23, 2007 - 5:13pm

A web-log posting by Vancouver Mortgage.

This week, Genworth predicts higher Canadian house prices into 2011 and ‘relief’ for buyers with longer amortization term and lower-down payment requirement.

The report quoted:

“In Vancouver, new home price increases are forecast to be 7 per cent in 2007 to an average of $673,706, compared to a 6.9 per cent average hike last year. Vancouver new home prices are then forecast to climb 4.3 per cent annually on average from 2008-2011. Growth in Vancouver resale home prices is forecast at 11.7 per cent this year to $569,689, down from a 20 per cent resale home price rocket in 2006, and increases of more than 13.5 per cent in 2005 and 2004. Vancouver’s resale home prices are expected to rise a more modest 6.6 per cent annually through 2011″.

I think the price increase predictions could be too simplistic for the following reasons:

1) The impact of higher mortgage interest rates on housing market sentiment was not mentioned, and this could trigger a price correction. With possible 0.5% to 1.0% interest rate increase this year and early next year, I suspect housing demand will drop, and the market may take a dive.