real estate newspapers

Opinion: Stronger tenant protections keep real estate speculators at bay

08/02/2023dansa

Written for Daily Hive Urbanized by Neil Vokey, who is a renter in East Vancouver and a member of the Vancouver Tenants Union.

Last year, the City of Vancouver passed the controversial Broadway Plan covering 485 city blocks that parallel the incoming SkyTrain Millennium Line extension to Arbutus.

The Broadway Plan aims to guide development over the next 30 years and eventually double the corridor’s current residential population. However, even prior to the plan passing, real estate speculation along the corridor has already mounted enormous pressure on the thousands of tenants who live there — roughly 25% of the city’s existing purpose-built rental stock.

When members of the Vancouver Tenants Union (VTU) surveyed hundreds of renters living next to future subway stations, they talked to renters in buildings where services and communication had drastically scaled back after their buildings were sold — evidence that the new owners were interested in speculation opportunities more than being landlords. VTU members also found significant rent gaps — the difference between rents being paid and market rates — meaning that an eviction due to redevelopment would mean 60% to 70% rent increase for the average renter along Broadway.

Perhaps recognizing that this scale of

Crexi Partners with the CCIM Institute to Provide One-Stop Property Listing Services for All Designee Members

08/02/2023dansa

Published: Feb. 7, 2023 at 3:31 PM CST|Updated: 6 hours ago

CCIM Designees will be able to add and view sale and lease property listings nationwide in one easy process

LOS ANGELES, Feb. 7, 2023 /PRNewswire/ — Crexithe commercial real estate (CRE) industry’s leading marketplace, data, and technology platform, today announced their partnership with the CCIM Institute.

Official Crexi logo (PRNewsfoto/Crexi)(PRNewswire)

Crexi announced its partnership with the CCIM Institute.

The CCIM Institute has partnered with Crexi to create a Designee-only benefit, known as the CCIM Property Listing Service. CCIM Designees can now connect their Crexi and CCIM accounts for instant access to thousands of CCIM Designee listings across the country.

“The real estate industry is moving to a more collaborative model,” said Mike DeGiorgio, founder and CEO of Crexi. “By partnering with the CCIM Institute, we’re able to share market data on one platform which leads to a perfect solution for both organizations and our clients.”

With this partnership, CCIM Designees can also subscribe to Crexi’s PRO offering at a discounted annual rate, which includes higher rankings in property searches and AI generated property blasts resulting in more qualified buyers with full

2023 Edmonton real estate forecast released

19/01/2023dansa

The value of an average detached house in Alberta’s capital is expected to drop by roughly three per cent in 2023, as rising interest rates and the cost of living drive buyers to seek more affordable options.

That’s the big-picture forecast from the Realtors Association of Edmonton, which revealed new numbers Wednesday to a packed ballroom of real estate agents at the Edmonton Convention Centre.

After the average price of a detached home in the city hit an all-time high of $510,000 in April 2022, the market started to slow as mortgage rates, grocery prices and utility rates rose.

“We saw a lot of crazy things happen during the pandemic that I think were completely unexpected,” explained association chair Melanie Boles.

“All of a sudden we had people working from home, homeschooling kids, there was no travel, there was no sports. So, I mean, they were all of a sudden saving money, staying home and they needed more space.”

That drove the prices up for houses with lots of space, Boles said.

It also led to the increase of realtors in the city. Boles said there are now 4,400 association members, another record high. She said a fall in sales