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Real Estate in BC, is it Buyers nerves not rates that are holding back purchases?

With all the discussion about mortgage rates here is a insightful article that discusses the psychology of the current real estate buyer and how it has changed recently.

Quote: “Joel Fox, chief operating officer of digital real estate platform Ownright, argued that the real drag on activity has less to do with borrowing costs and more to do with psychology.”

Read now the article is from Canadian Mortgage Professional and titled Why buyer nerves, not rates, are holding Canada’s housing recovery back full article here

Contact me for a Free up to date market evaluation on your property today.

NOTE: Subscribers to my weekly ezine get my real estate activity report with lots of details on sales, listings and price changes. This helps my clients make more informed decisions. Contact me to subscribe here

Note: This article offers you general information only and not to be considered specific professional advice for your situation. Let us meet for you to have information specific to your needs so you can make an educated decision on your real estate needs.

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If you would like to learn more about how I serve my clients in buying and selling real estate in the Maple Ridge Pitt Meadows area please contact me here to book a time for an introductory free consultation.

Once we meet you get your own personal copy of the special buyers or seller guide books I created that help you become more informed about todays more complex real estate buying or selling journey. Knowledge is power.

Sincerely,

David Hennessey

REALTOR®

eXp Realty

604 626 8903

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Maple Ridge Detached Home News

Maple Ridge Detached Home News December 7th 2025

The total number of detached homes on the market has gone down to 396 (only 47 below a million) This drop is most likely since home owners are not getting the price they want and exiting the market as indicated by 29 listing contracts ending in the last few days.

We had 24 new detached listings (vs 17 last week) potentially from owners who are going to have to deal with higher interest rates (see above note on interest rates) since normally homeowners do not enter the market towards year end since it is not an ideal time to sell.

Number of price reductions was 14 down from 16 last week with only 9 sales going subject free in the last week down from 14 the prior week.

FULL DETAILS received by subscribers Contact me today to subscribe to my valuable, detailed market report

Contact me for a Free up to date market evaluation.

Subscribers to my weekly Maple Ridge detached homes report get all the details that are not shown here. This helps my clients make more informed decisions.

Note: This article offers you general information only and not to be considered specific professional advice for your situation. Let us meet for you to have information specific to your needs so you can make an educated decision on your real estate needs.

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If you would like to learn more about how I serve my clients in buying and selling real estate in the Maple Ridge Pitt Meadows area please contact me here to book a time for an introductory free consultation.

Once we meet you get your own personal copy of the special buyers or seller guide books I created that help you become more informed about todays more complex real estate buying or selling journey. Knowledge is power.

Sincerely,

David Hennessey

REALTOR®

eXp Realty

604 626 8903

 

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Non-conforming Strata Duplex True or False ? Read the details

Are you thinking of buying a duplex home in British Columbia and you have heard the term “non-conforming strata” before, there’s something you should know: There’s no such thing, according to the Condominium Home Owners’ Association (CHOA).

Owning a half duplex in BC

1. It’s a form of joint ownership. One of the key things to consider is that you are entering into a form of ‘joint ownership’ with a neighbor you may not even know. There are such things as ‘party walls’. If things shared jointly need maintaining or replacing and one side says ‘no’, this could down the road result in the need for litigation. Imagine being left to pay and needing to put a ‘builders lien’ on your neighbors 1/2 duplex!

2. It is a Strata Corporation. Even though the ‘strata corporation’ is only made up of 2 strata lots (duplexes) they are required to abide by the rules & regulations of the Strata Property Act. There can be serious risk implications if a Duplex is not following the Act.

3. Is there a Party Wall agreement? Is there an easement for to allow for access during periods of repairs and maintenance.

4. Insurance – Make sure you have the right insurance

A strata is legally defined as any property where a group of owners own their individual strata lots and together own the common property and common assets. Some owners of duplex, triplex, and four-plexes try to manage their properties without formal meetings, bylaws, and strata fees. This makes their lots non-compliant with the Strata Property Act. This arrangement can cause significant headaches.Read this article here to learn more or contact me today for more details.

Learn the essentials of strata administration here

Source: GVR

This article is for guidance purposes only and should not in any way be construed as legal or professional advice.

At all times you should contact your own Lawyer, who will be able to discuss the specifics of your individual purchase.

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If you would like to learn more about how I serve my clients in buying and selling real estate please contact me here to book a time for an introductory free consultation.

Once we meet you get your own personal copy of the special buyers or seller guide books I created that help you become more informed about todays more complex real estate buying or selling journey. Knowledge is power.

Sincerely,

David Hennessey

REALTOR®

eXp Realty

604 626 8903

 

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