Insights and Updates from Clark Woods LLP
Welcome to the Clark Woods LLP Blog, your resource for expert commentary on legal developments, practical advice, and updates on our firm’s activities. Whether you’re seeking information on recent legal trends or looking for guidance on specific legal matters, our blog is here to keep you informed and engaged.
Mortgage Stress Test Being Dropped
Canadian mortgage holders looking to renew their home loan got some good news last month as the national banking regulator confirmed that it will be discontinuing a requirement that made it harder to change lenders. The Office of the Superintendent of Financial...
Cornhole Classic 2024 proudly sponsored by Clark Woods LLP
Clark Woods LLP was proud to sponsor this year’s Colon Cancer Charity Cornhole Classic hosted by The Goutsisson Family Foundation this summer. The event raised $30,000 for the BC Cancer Foundation, pushing the total funds raised for colon cancer support and awareness...
Metro Vancouver Real Estate Market Sees Growth in Inventory
Home sales across the Metro Vancouver real estate market slowed in September 2024, registering a 3.8% year-over-year decline as the region’s housing market continues to feel the impact of high borrowing costs. According to data from Greater Vancouver Realtors (GVR),...
Federal Government Proposes Mortgage Changes to Help First-Time Homebuyers
The federal government has announced mortgage changes that will make it easier for first-time home buyers to enter the real estate market and buy a home. Proposed changes floated by the Liberal government would see price caps removed and amortizations extended on...
Real Estate Agent Suspended for Misconduct after Forging Signatures in Richmond Land Deal
A British Columbia real estate agent has been suspended for six months for misconduct after admitting to forging signatures on key documents in a Richmond land assembly deal. The BC Financial Services Authority (BCFSA) announced last week that Ramandeep Singh Kooner...
Metro Vancouver Real Estate Market Sees Home Sales Slump in August
The Metro Vancouver real estate market continued to lag in August 2024, falling well below the ten-year seasonal average as high borrowing costs kept potential buyers at bay. According to the Greater Vancouver REALTORS (GVR), residential sales totaled 1,904 for the...
New rules go into effect to allow 30-year mortgages for some first-time homebuyers
Changes by the federal government aimed at making home ownership more affordable for first-time homebuyers went into effect this month, allowing 30-year mortgages for some prospective buyers, up from the standard 25-year term. As a result of the changes, which went...
Metro Vancouver Real Estate Market Sees Inventory Rise
The Metro Vancouver real estate market experienced a notable increase in new property listings in July 2024, with the total number of new listings rising nearly 20% year over year. However, despite the influx of new properties, residential sales in the region totaled...
New B.C. Renter Website to Protect Tenants from Bad Faith Evictions
The B.C. provincial government is launching a new website later this month they say will protect renters from bad faith evictions and improve the eviction process for landlords. Starting July 18, landlords must use the new Landlord Use Web Portal to generate Notices...