Your Trusted Source For Real Estate
My Featured Listings
From an interview with BNN Bloomberg:
Mary Saleh, a Vancouver-based realtor, is feeling the pressure of growing competition in the city's slowing housing market.
Mary Saleh, an 18-year veteran realtor currently with RE/MAX also feels the pressure of growing competition.
“A lot of buyers or investors have lost faith,” she said in a phone interview. “Affordability is one thing but financing is the bigger issue.”
Saleh is referring to the B-20 guideline implemented by the Office of the Superintendent of Financial Institutions (OSFI) in early 2018. The rule imposed new stress tests for uninsured mortgages, where the borrower makes a down payment of at least 20 per cent on the purchase of a home.
“I don’t understand what the government is trying to gain here,” she said.
Despite her extended use of social media to build clientele, Saleh’s doing something she’s never done before – knocking on doors in her Vancouver neighborhood of Commercial Drive.
Saleh says she’s also now receiving invitations from developers with a chance to win a Louis Vuitton handbag or a Rolex watch. Wiens also said he’s experienced developers trying to woo potential buyers with fancy events and free booze.