The Garbutt + Dumas Real Estate Podcast

As the fall season sets in, the real estate market is experiencing a noticeable slowdown, with lower-than-usual sales compared to previous years. Buyers and sellers alike are feeling the effects of shifting economic conditions, leading to more cautious decision-making and longer listing times. James and Denny discuss how they navigate slower market periods and share insights into the conversations...

To tackle the housing crisis, the Province implemented a series of legislative changes in the fall of 2023 with Bills 44 and 47. These changes permit small-scale multi-unit housing and increase density in transit-oriented development areas, ensuring more people can access homes within their familiar communities. James and Denny go over the new changes and discuss how they will affect different com...

The real estate market in Vancouver is showing signs of revival following a recent rate cut by the Bank of Canada, which has made borrowing more affordable for potential buyers. With expectations of more rate cuts incoming, experts anticipate further boosts in market activity and home sales in the coming months. James and Denny offer their personal insights on how the recent rate cuts have impacte...

As the June 30 deadline for amending zoning bylaws has passed, city governments in BC have detailed new construction permissions for single-family properties starting in July. James and Denny discuss the impact of these changes on Vancouver real estate from the perspectives of buyers, sellers, and investors. This episode will focus on new zoning bylaws and what they mean, small-scale multi-unit ho...

Listings are up, pre-sales are down, and prices are easing in Vancouver's housing market. This shift indicates a cooling trend as more properties become available while fewer buyers commit to pre-sales, leading to a gradual decline in housing prices. James and Denny share what they see in this market and offer predictions on where things are going. This episode will focus on sales slowing down and...

The Bank of Canada's recent decision to cut its overnight rate to 4.75% marks the first rate cut in over four years. The BoC indicates a shift in monetary policy aimed at easing financial conditions as inflationary pressures show signs of subsiding. This move is expected to have several implications for the real estate market in Canada. James and Denny share what they are seeing in today's Vancouv...

Acquiring a foreclosed property in Canada can offer substantial savings on a home or investment property. These properties are those that a lender has seized after the borrower failed to meet their mortgage obligations. James and Denny share their personal experiences with foreclosures and what the purchasing process looks like. This Episode will focus on foreclosures and if they can be worth it,...

As per the BC Real Estate Association, the real estate market in the province is displaying indications of a rebound, although home sales continue to lag behind the 10-year average. Brendon Ogmundson, Chief Economist at BCREA, elaborated that while activity is increasing, home sales are still below typical levels, and home prices have remained relatively stable since last summer. James and Denny s...

On Tuesday, the federal government announced its 2024 budget, committing to extensive new spending funded by fresh revenue sources. This year's federal budget is centred on three key objectives: increasing the availability of affordable housing, reducing living costs, and fostering economic growth that benefits everyone. James and Denny share their thoughts on the recently released federal budget...

Unlocking the value of your home or any real estate property you're considering buying or selling is a nuanced process that requires a keen understanding of the market. Denny and Monica share their personal experiences with evaluating homes and whether it's better to buy or sell your home first. This episode will focus on those looking to make a real estate move, upsizing and downsizing conversati...

Recent legislative changes in British Columbia aim to address the soaring cost of housing, reflecting the province's efforts to tackle the persistent issue of affordability in the real estate market. Denny and Monica review the new policy changes and share their thoughts on how they will affect the Vancouver real estate market. This episode will focus on recent real estate policy changes aimed to...

The current market is marked by high-interest rates and stagnant home sales, indicating a seller's market. Uncertainty looms large amidst these conditions, posing challenges for both buyers and sellers alike. Economic unpredictability adds another layer of complexity to the real estate landscape. Denny and Monica share what they are currently seeing in Vancouver's real estate market, and break dow...

With current properties being sold so quickly, a lot of buyers may be overlooking certain negative aspects of a home that in the past may have been major red flags in a sale. James and Denny discuss the reasons behind unpermitted renovations and share how buyers can gain valuable information regarding work done on a property before buying. This episode will focus on the importance of certified ins...

As a prospective buyer in Greater Vancouver, navigating the real estate landscape can be challenging. The region remains entrenched in a competitive market where everyone is on the hunt for that elusive "good deal." However, finding such opportunities is increasingly rare. James and Denny outline four strategies for uncovering elusive deals and maintaining a competitive edge in the market. This ep...

At the beginning of January, the Canadian Real Estate Association voted in favor of adding a policy of a "Duty of Cooperation." This policy requires realtors to put residential listings on its Multiple Listing Service (MLS) within three days of publicly marketing a property. James and Denny dissect the policy, offering insights into its potential impact on the Vancouver real estate market. This ep...

Housing Minister Ravi Kahlon has presented a legislative proposal to promote the growth of small-scale, multi-unit housing within the province. The legislation mandates municipalities to change zoning rules to make building townhomes, multiplexes and laneway houses easier. James and Denny review the new changes and express their opinions on how these alterations will impact density and the real es...

2023 was a rollercoaster year for real estate marked by increases in interest rates and the implementation of several legislative adjustments aimed at addressing housing supply issues and promoting long-term rentals. James and Denny review key moments from 2023, shedding light on the latest legislative initiatives designed to boost housing availability and facilitate long-term rentals. This Episod...

If you're looking to buy a home for personal living or investment purposes, there's a chance it might be tenanted. In such instances, there are key considerations before finalizing your decision to purchase. James and Denny share their personal experiences with purchasing and selling tenanted properties and go over all the things you can expect. This episode will focus on tenanted properties and h...

The B.C. government introduced legislation with the objective of redirecting certain short-term rentals (STR) back into the long-term housing market. This initiative seeks to address housing shortages by repurposing some short-term rental properties to serve as stable, long-term homes for residents. James and Denny share their opinions on the changes and talk about how they will affect different c...

The Bank of Canada's decision to maintain its policy rate at a 22-year high of five percent has offered some respite to mortgage owners while increasing financial strain for other indebted Canadians grappling with higher borrowing costs. James and Denny share what they are seeing in the real estate world and how the rate hold is affecting people and their decisions to buy or sell. This episode wil...

As interest rates rise, the real estate market in Vancouver is experiencing increased pressure. Houses, townhomes, and condos are responding differently to these changes, and various regions within Vancouver are being impacted in diverse ways. James and Denny discuss various cities and specific product types, sharing their observations and insights on the current conditions in these markets. This...

In the world of real estate, few moments are as pivotal as the presentation of an offer on a home. Whether you're a first-time homebuyer or a seasoned real estate enthusiast, understanding the key elements and intricacies of crafting a compelling offer is essential. Denny and Monica go over writing an offer and the important details that you need to think about. This episode will focus on writing...

In B.C.'s competitive rental market, landlords will soon be permitted to raise rents for existing tenants by 3.5%, up from the current 2% cap. This change, however, remains below the inflation rate for the second consecutive year, a shift from past policies that allowed rent increases based on inflation or inflation plus 2% prior to 2018. Denny and Monica explain what this all means for landlords...

British Columbia's housing minister has unveiled forthcoming legislation aimed at increasing housing density. The proposed laws intend to permit the construction of duplexes, triplexes, and townhomes on land currently designated for single-family homes, a move aimed at tackling the ongoing housing crisis. Denny and Monica go over the numbers BC is proposing and offer their opinions on how feasible...

As 30-year mortgage rates surge past the 7% mark, a significant number of current homeowners seem hesitant to sell their properties, fearing the prospect of acquiring a new, pricier mortgage. The combination of reduced housing inventories and elevated borrowing expenses has led to a prominent concern: home affordability, which is now a pressing issue for prospective buyers. Denny and Monica discus...