Your Trusted Source For Real Estate

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.

Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.