When we use the word “bargain” in relation to Burnaby real estate, don’t laugh.
There are a few out there based on a certain metric. This month’s roundups of Burnaby’s bargain listings by roomvu, are listed well-below government assessed value, most are under $1 million, and fresh on the market. It’s the cream of the crop of home deals.
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How it works is the B.C. government analyzes and gives a price based on each property’s factors like size, layout, shape, age, neighbourhood, the condition of the property and more.
When listing prices appear lower than as compared to government value, these value-for-money homes set off alarm bells, demanding to be seen and bought.
This is a 3 bedrooms, 3 bathroom Townhouse is listed for sale by agent Dennis Liuof Royal Pacific Realty (Kingsway) Ltd. They are asking $899900 while the assessed value for this property is $944000 .
This property features:No Strata Fee! Great location, close to Highgate, Metrotown, Crystal Mall, Library, skytrain stations. Minutes away from deer lake, SFU and BCIT etc. Quality 3 level heritage style Four Plex with great floor plan Liv/Din, Powder room, kitchen on the main floor, 1,400 sq ft 3 bedrooms & 3 bathrooms w/insuite laundry in 2nd floor, master bdrm w/ensuite on 3rd floor, open sundeck with view. Granite counter top in the kitchen & marble granite in all the washrooms, white kit cabinet. BEST corner unit w/view. BONUS – includes stainless steel appliances, full size washer & dryer, blinds & screens all in & secure garage.
This is a 2 bedrooms, 2 bathroom Condo is listed for sale by agent Melissa Dhuu PREC*of Top Vision Realty Inc. They are asking $849000 while the assessed value for this property is $885000 .
This property features:The PARK in heart of Metrotown. This spacious 2 bedrm 2 bathrm 915 sf newly built condo is on the upper level facing south west with water, mountain, and city views. Steps to the mall, SkyTrain station and recreation centre. Easy to show.
This is a 6 bedrooms, 4 bathroom Semi-detached is listed for sale by agent Mick McLennanof RE/MAX All Points Realty . They are asking $1590000 while the assessed value for this property is $1601000 .
This property features:Attention Builders – This must be Sold with the 6544 Imperial address. With the movement of the property line, it will have the potential for 2 Duplex Lots. Under R5 Zoning, the property must have 60′ frontage & 7200 sq ft lot size. The present Duplex is currently tenanted with 1 side at $1600.00. The duplex is in good condition + there is a triple garage with lane access & a attached carport. The 2 properties (6544 & 6560 Imperial) together have a total of 15,063 sq ft & approx 147′ on frontage.
This is a 2 bedrooms, 2 bathroom Condo is listed for sale by agent Darin Germyn – PRECof Macdonald Realty (Surrey/152). They are asking $650000 while the assessed value for this property is $654000 .
This property features:Imagine waking up each day to a made-in BC experience of the sunny North Shore mountains smiling back at you. A large 2 bedroom bright corner unit with oversized windows in almost every room, offers gorgeous views of the bustling Metrotown area, North Shore Mountains and the valley showing nearly all of Burnaby. Featuring 2 patios, dedicated laundry room, generously sized bathrooms and all located in a well maintained rain-screened building. Just steps away to everything Metrotown has to offer including world-class shopping at BC’s largest shopping mall, every type of food/restaurant imaginable, transit and more.
This is a 3 bedrooms, 3 bathroom Condo is listed for sale by agent Zhong Liuof Sutton Group Seafair Realty. They are asking $899000 while the assessed value for this property is $903000 .
This property features:
LOCATION! LOCATION! LOCATION! Residence at the Crystal, right above Crystal mall, convenience, mountain views, bright spacious floor plan, you can have it all. Featuring 3 bedrooms (2 ensuites), 3 full baths and a large den with windows which can be used as a 4th bedroom. Every bedroom including the den has mountain & city views. Amenities include indoor pool, hot tub, gym, and a caretaker. 2 side by side parking spots, and a storage locker.
TORONTO – One expert predicts Ottawa‘s changes to mortgage rules will help spur demand among potential homebuyers but says policies aimed at driving new supply are needed to address the “core issues” facing the market.
The federal government’s changes, set to come into force mid-December, include a higher price cap for insured mortgages to allow more people to qualify for a mortgage with less than a 20 per cent down payment.
The government will also expand its 30-year mortgage amortization to include first-time homebuyers buying any type of home, as well as anybody buying a newly built home.
CIBC Capital Markets deputy chief economist Benjamin Tal calls it a “significant” move likely to accelerate the recovery of the housing market, a process already underway as interest rates have begun to fall.
However, he says in a note that policymakers should aim to “prevent that from becoming too much of a good thing” through policies geared toward the supply side.
Tal says the main issue is the lack of supply available to respond to Canada’s rapidly increasing population, particularly in major cities.
This report by The Canadian Press was first published Sept. 17,2024.
OTTAWA – The Canadian Real Estate Association says the number of homes sold in August fell compared with a year ago as the market remained largely stuck in a holding pattern despite borrowing costs beginning to come down.
The association says the number of homes sold in August fell 2.1 per cent compared with the same month last year.
On a seasonally adjusted month-over-month basis, national home sales edged up 1.3 per cent from July.
CREA senior economist Shaun Cathcart says that with forecasts of lower interest rates throughout the rest of this year and into 2025, “it makes sense that prospective buyers might continue to hold off for improved affordability, especially since prices are still well behaved in most of the country.”
The national average sale price for August amounted to $649,100, a 0.1 per cent increase compared with a year earlier.
The number of newly listed properties was up 1.1 per cent month-over-month.
This report by The Canadian Press was first published Sept. 16, 2024.
MONTREAL – Two Quebec real estate brokers are facing fines and years-long suspensions for submitting bogus offers on homes to drive up prices during the COVID-19 pandemic.
Christine Girouard has been suspended for 14 years and her business partner, Jonathan Dauphinais-Fortin, has been suspended for nine years after Quebec’s authority of real estate brokerage found they used fake bids to get buyers to raise their offers.
Girouard is a well-known broker who previously starred on a Quebec reality show that follows top real estate agents in the province.
She is facing a fine of $50,000, while Dauphinais-Fortin has been fined $10,000.
The two brokers were suspended in May 2023 after La Presse published an article about their practices.
One buyer ended up paying $40,000 more than his initial offer in 2022 after Girouard and Dauphinais-Fortin concocted a second bid on the house he wanted to buy.
This report by The Canadian Press was first published Sept. 11, 2024.
