{"id":19230,"date":"2016-12-29T11:51:27","date_gmt":"2016-12-29T19:51:27","guid":{"rendered":"https:\/\/www.garbuttdumas.ca\/?p=19230"},"modified":"2016-12-29T11:51:27","modified_gmt":"2016-12-29T19:51:27","slug":"looking-back-2016-real-estate-market","status":"publish","type":"post","link":"https:\/\/www.garbuttdumas.ca\/2016\/12\/29\/looking-back-2016-real-estate-market\/","title":{"rendered":"Looking back at the 2016 real estate market"},"content":{"rendered":"

To say the 2016 real estate market in Greater Vancouver was wild and crazy would be an understatement.
\nThe first half of the year<\/a> was insanely busy as the market exploded. Homes were selling as soon as they hit the market, often after multiple offers, without subjects and above list.
\nThe Lower Mainland has always been a desirable destination for home buyers, but this was off the hook, unsustainable. The 2016 real estate market was already showing signs of cooling down to a more sustainable level when the B.C. government implemented its foreign buyers\u2019 tax<\/a>. Some areas, like Vancouver\u2019s West Side, felt its chill immediately.
\nThat created a bit of a domino effect that reached into the suburbs as buyers and sellers decided to step aside<\/a> to see how the market plays out.
\nThe federal government\u2019s new mortgage rules<\/a> further tempered the market by making it a little tougher to qualify for a mortgage.
\nThen, in December, the provincial government introduced its new loan program<\/a> to help first-time homebuyers with their downpayment, beginning in the new year. It\u2019s too soon to tell if the incentive will reignite home sales; but for young people looking to plant roots in their community, every little bit helps. And the Bank of Mom and Dad will no doubt appreciate the relief.
\nGarbutt + Dumas enjoyed a record year; we sold 140 properties\u00a0for a total of $98 million. It was hard work. But we still managed to have some fun along the way. Because providing our clients with an enjoyable real estate experience is our passion.
\n

\"The<\/a>
Uhm, okay, the real estate business can be fierce but…<\/figcaption><\/figure>
\n 
\nThat commitment to superior service will continue in 2017. In fact, we\u2019re planning to kick it up a notch or two by keeping you even better informed about what we\u2019re up to and what the market is doing and making the biggest transaction of your life even smoother and as stress-free as possible.
\nThanks to all our clients for a great 2016. Thanks to our followers on social media and visitors to our website. Happy New Year! Bring on 2017!
\n
\"The<\/a>
Game on!<\/figcaption><\/figure>
\n 
\n
\"The<\/a>
Checking the work of Marcos, our talented real estate photographer.<\/figcaption><\/figure>
\n 
\n
\"The<\/a>
Our patio staging furniture is a star all its own!<\/figcaption><\/figure>
\n 
\n
\"The<\/a>
If there’s a jungle gym, sometimes you just can’t help yourself!<\/figcaption><\/figure>
\n 
\n
\"Will<\/a>
Will this antenna gets us the Olympics?<\/figcaption><\/figure>
\n 
\n
\"The<\/a>
Getting in a workout!<\/figcaption><\/figure>
\n 
\n
\"The<\/a>
The devil is in the details.<\/figcaption><\/figure>
\n 
\n
\"The<\/a>
Staying in touch with clients never stops!<\/figcaption><\/figure>
\n <\/p>\n","protected":false},"excerpt":{"rendered":"

To say the 2016 real estate market in Greater Vancouver was wild and crazy would be an understatement. The first half of the year was insanely…<\/p>\n","protected":false},"author":3,"featured_media":19232,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[1],"tags":[125,129,131,138,141,201,211,215,318,378,482,485,494,496,506,514,518,536,626,643,798],"acf":[],"taxonomy_info":{"category":[{"value":1,"label":"General Announcements"}],"post_tag":[{"value":125,"label":"burnaby"},{"value":129,"label":"burnaby condos"},{"value":131,"label":"burnaby homes"},{"value":138,"label":"burnaby real estate"},{"value":141,"label":"burnaby 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