Navigating real estate in BC just got clearer! The new REALTORS® Disclosure of Material Latent Defects (MLD) Form is here — and while the disclosure duty hasn’t changed, how we document it has. This blog will break down the latest guidance and how to best protect yourself and your clients. ⬇️✨

💡 Why the Change Matters

While the disclosure obligation remains unchanged — licensees must disclose all known material latent defects — the revised form is a refreshed tool to help REALTORS® meet their legal and ethical duties under Section 59 of the Real Estate Services Rules, the REALTOR® Code, and BCFSA/BCREA guidelines.

📏 Legal & Ethical Duties at a Glance

• Section 59(2): If you know of an MLD, you must disclose it in writing to all parties before any sale agreement is signed — separate from the purchase contract.

• Section 59(3): If the seller instructs you not to disclose, you must withdraw from providing trading services.

• REALTOR® Code (Article 4): REALTORS® must discover and disclose all facts that materially impact a transaction — visible or not — including condition, risks, hazards, and past use.

You don’t need to act like an inspector — but ignoring red flags isn’t an option. Asking the right questions and doing reasonable research is key to fulfilling your duty.

🛠 What Counts as a Material Latent Defect?

A material latent defect is something not apparent through reasonable inspection, such as:

• Safety hazards or unfit-for-purpose conditions 🚫

• Issues requiring major repair costs 💰

• Local authority notices or unapproved renovations 🏗

• Missing building permits 📂

Examples: water ingress 💧, structural damage 🏚, unpermitted additions, underground tanks ⛽, high radon levels ☢, or no permit history.

📄 Form Essentials: When & How to Use It

New Form Highlights:

• Formerly known as the “Seller’s Disclosure of Material Latent Defects,” now the REALTORS®’ Disclosure of Material Latent Defects Form — highlighting that disclosure is the REALTOR®’s responsibility.

• Includes a seller acknowledgment, confirming their understanding and authorizing disclosure where required.

When to use it:

🛡 Best Practices & Risk Management

• Always document your due diligence: seller communications, permit checks, FOI requests, inspection notes.

• Retain all disclosures — PDS, MLD form, seller conversations — in your brokerage file.

• Remember: Signatures don’t shift responsibility. Overlooking obvious risks, even after signing, can lead to discipline or liability.

📌 Quick Takeaways for REALTORS®

1. 📜 Disclosure duty hasn’t changed — but documentation tools have.

2. 🛠 Use the new form as both protection and professionalism.

3. 🔍 Investigate diligently and keep records.

4. ✅ The form is proof of integrity and accountability.

📲 Ready to Talk MLDs? Let’s Connect!

Your clients deserve clarity and protection, and you deserve confidence. Whether you're a seller navigating your responsibilities or a buyer curious about what’s hidden, I'm here to help.

Tara Kennedy – REALTOR®
📞 236-992-8989
📧 TaraKennedySells@gmail.com
🌐 www.TaraKennedy.ca

Let’s make your next transaction transparent, compliant, and stress-free. 💬✨

#BCRealEstate #MetroVancouverRealEstate #BCFSA #BCREA #RealEstateTips #HomeBuyingBC #HomeSellingBC #PropertyDisclosures #MaterialLatentDefects #RealEstateCompliance #BCRealtor #CoquitlamRealEstate #PortMoodyRealEstate #PortCoquitlamRealEstate #TriCitiesBC #HomeSellingTips #HomeBuyingTips #KnowBeforeYouBuy #RealEstateEthics #RealEstateKnowledge #LicensedRealtorBC #DisclosureForm #BuyerBeware #SellYourHomeBC

Homebuyers and sellers in Metro Vancouver are watching closely: July 2025 brings encouraging signs of a market recovery.

✨ Key Highlights:

• Residential sales on the MLS® reached 2,286 units in July 2025, just a 2% decline from 2,333 in July 2024—a notably tight gap compared to earlier in the year.

• Still 13.9% below the 10-year seasonal average of 2,656.

• 5,642 properties were newly listed in July 2025—slightly up 0.8% year-over-year and 12.4% above the 10-year average of 5,018.

• Total active listings stood at 17,168, up 19.8% year-over-year and a hefty 40.2% above the 10-year seasonal norm of 12,249.

📊 Sales-to-Active Listings Ratio & Market Balance

Despite the slowdown earlier this year, the sales-to-active listings ratio for July sits at 13.8%, with breakdowns by property type:

• 🏠 Detached homes: 10.2%

• 🏘 Attached homes (townhouses): 16.7%

• 🏢 Apartments: 15.9%

Historically, ratios below 12% suggest downward pressure on prices, while sustained ratios above 20% indicate upward pressure. At 13.8%, the market is in a balanced zone—favorable for buyers, although continued sales recovery could tighten conditions.

💰 Benchmark Price Trends

The MLS® Home Price Index composite benchmark for all residential properties in Metro Vancouver is $1,165,300, marking a 2.7% decrease year-over-year and 0.7% month-over-month decline from June.

By property type:

• 🏡 Detached homes: $1,974,400 — down 3.6% YoY and 1% MoM.

• 🏢 Apartments: $743,700 — down 3.2% YoY and 0.6% MoM.

• 🏘 Townhouses: $1,099,200 — down 2.3% YoY and 0.4% MoM.

🔍 What the Data Means for You

For Buyers:

• ✅ Conditions remain favorable—plenty of choice and balanced pricing.

• 🕒 Still time to negotiate, inspect, and benefit from the current supply.

For Sellers:

• 📈 A possible uptick in buyer activity may gradually shift leverage.

• 🎯 Pricing and presentation will be crucial to stand out as competition persists.

Economic Outlook:
With the Bank of Canada holding interest rates steady in July, borrowing cost stability may boost confidence—particularly during ongoing economic uncertainties.

📋 Summary Table

📞 Stay Informed — Let’s Talk About Your Real Estate Goals!

Whether you're navigating the market as a buyer or seller, it’s all about timing, local insight, and strategy.

Contact me today for personalized guidance:
Tara Kennedy – REALTOR®
📱 236-992-8989
📧 TaraKennedySells@gmail.com
🌐 www.TaraKennedy.ca

#MetroVancouverRealEstate #VancouverHousingMarket #MLSStatsJuly2025 #HomeSalesRecovery #HousingInventory #RealEstateUpdate #BuyerMarket #SellerStrategy #VancouverHomes #CoquitlamRealEstate #PortCoquitlam #PortMoodyHomes

The Farmers’ Almanac has released its extended forecast for Winter 2025–2026, and the verdict is in — this will be “a winter to remember”. From British Columbia’s rainy coastlines to Atlantic Canada’s blizzard-prone shores, Canadians can expect a return to the traditional winter patterns we know all too well: deep freezes, heavy snow, and powerful storms.

Let’s break it down region by region, starting in the west.

British Columbia 🌲❄️

Winter in BC will bring average temperatures and precipitation overall — but don’t be fooled by the word “average.”

• Coastal BC: Expect a wintry mix with torrential rain, high winds, occasional thaws, and local flooding during strong storms.

• Interior BC: Pacific storms will drop heavy snow, making ski resorts very happy.

• Southern BC: Brief warm spells in February and early March will bring mild weather, but rain and wind will dominate.

It’s a winter that will keep snow lovers happy in the mountains while rain gear is a must along the coast.

The Prairies – Alberta, Saskatchewan, Manitoba 🌾🥶

The Prairies are in for a very cold winter with above-average snowfall. Arctic air is expected to dominate in January and February, bringing:

• Prolonged deep freezes with dangerous wind chills

• Whiteouts and blizzards from fast-moving weather systems

• Plenty of Alberta Clippers — quick, powerful winter storms that form in Alberta and race southeast, bringing bursts of snow, strong winds, and a blast of Arctic cold behind them. Even when snowfall totals are low, blowing snow can make it feel like a full-on blizzard.

Ontario 🍁🌨

Winter in Ontario will be cold with above-average snowfall.

• Southern Ontario: Expect more variability with occasional thaws, but also sharp cold snaps.

• Frequent snowstorms and lake-effect snow will keep shovels working overtime.

• Icy roads and sidewalks will be a common challenge.

Quebec 🦌❄️

A cold and snowy season lies ahead.

• Northern Quebec: Deep freezes and dangerous wind chills thanks to Arctic air masses.

• Southern Quebec: Occasional thaws will break up cold snaps, but late January and February could bring multiple blizzards and nor’easters.

Atlantic Canada 🌊☃️

Bundle up and keep the snowblower ready — Atlantic provinces will see a cold, wet, and snowy season.

• Nova Scotia & PEI: Frequent rain-snow mixes with coastal flooding during strong storms.

• Newfoundland & Labrador: Multiple blizzards in January and February will make for challenging travel and storm-watching opportunities.

Month-by-Month Highlights 📅

• Late December 2025: Unsettled weather — snow and sleet in the East, mixed conditions in the West.

• January 2026: Stormy and frigid from coast to coast. Arctic blasts for the East, blizzards in the Prairies, rain/snow mix in BC.

• February 2026: Widespread snowstorms, deep freezes, and more blizzards in Ontario and the Prairies.

• March 2026: A transitional month — cold lingers in the North and East, while milder air and rain push in from the West, along with late-season snowstorms.

Final Word 🌟

From coast to coast, Winter 2025–2026 will deliver classic Canadian conditions — the kind that make you both love and dread the season. Whether you’re a skier, a snow-shoveler, or just a cocoa drinker, be prepared for a season full of variety and extremes.

And if your winter plans include moving into a new home, selling your current property, or finding that perfect cozy space before the snow flies again, I’d be happy to help you navigate the market — no snow tires required.

If your plans for this winter include buying a new home, upgrading to something cozier, or selling your property before spring, I’m here to help you navigate the real estate market with confidence — snow or shine.

📍 Tara Kennedy
REALTOR®
📞 236-992-8989
📧 TaraKennedySells@gmail.com
🌐 www.TaraKennedy.ca

#FarmersAlmanac #WinterForecast2025 #CanadianWinter #SnowDay #BCRealEstate #PrairieWeather #Snowstorms #DeepFreeze #Blizzards #AlbertaClippers #BCHomes #PrairieLife #WinterWeatherCanada #CanadianRealEstate #TricitiesRealtor #PortCoquitlam #PortMoody #Coquitlam #WinterIsComing #HomeSweetHome #BCLiving #RoyalLePageEliteWest #TaraKennedy #TaraKennedyRealtor #BCWinter

Every year on the first Monday in August, British Columbians enjoy a well-deserved long weekend known as BC Day. But what exactly is this holiday all about, and how does it fit into the bigger picture across Canada?

While it may feel like just another summer day off, BC Day is much more than that. It’s a time to reflect on the rich history, diverse culture, and unique identity of British Columbia — a province known for its natural beauty, Indigenous heritage, and pioneering spirit 🌲⛰️

A Civic Holiday With Many Names

Across Canada, the first Monday of August is recognized in many provinces and territories, though it’s not a federal statutory holiday. That’s why the name and focus of the holiday vary depending on where you are.

In BC, it’s officially called British Columbia Day, while other provinces have their own versions:

• Heritage Day in Alberta

• Saskatchewan Day in Saskatchewan

• Natal Day in parts of the Maritimes

• Civic Holiday in Ontario and other regions

Despite the different names, the common goal is to celebrate local culture, history, and community. It’s a moment for Canadians to take pride in where they live and reflect on the people and events that helped shape their part of the country 🍁

A Tribute to BC’s History

BC Day was first introduced in the 1970s to honour the early settlers and Indigenous peoples who laid the foundations of British Columbia. The holiday also aligns with a key moment in provincial history — the declaration of the Colony of British Columbia in August 1858 by the British Crown.

British Columbia became a Canadian province in 1871 and has since grown into a vibrant and diverse region that plays a major role in Canada’s economy, environment, and cultural identity. BC Day reminds us of that journey and the people who helped build it.

A Chance to Celebrate Identity and Community

Unlike some of the other statutory holidays in the year, BC Day doesn’t mark a single historic event or national milestone. Instead, it serves as a broad celebration of who we are as British Columbians. It’s about connection — to the land, to our heritage, and to each other.

Whether you were born here or made BC your home later in life, this holiday is a chance to reflect on your place in this beautiful province and appreciate the freedoms, opportunities, and diversity that make it such a special part of Canada 🌎❤️

A Note About Statutory Holiday Status

BC Day is a provincial statutory holiday, which means most employees in British Columbia are entitled to a paid day off. Essential services, transit, and some retail operations may still be open with adjusted hours. If you work on BC Day, you may be eligible for statutory holiday pay, depending on your employment status and whether you meet certain conditions.

If you’re unsure about your rights as a worker during a statutory holiday in BC, it’s a good idea to review the Employment Standards Branch guidelines or check with your employer ✅

Why It Matters

BC Day is more than just a long weekend. It’s a time to reflect on the history of British Columbia, celebrate its contributions to Canada, and take a moment to feel proud of the place we call home.

Whether you’re enjoying time with family, exploring local history, or simply relaxing at home, BC Day invites us all to pause and appreciate everything this province stands for 🏞️💙

#BCDay #BritishColumbiaDay #CivicHoliday #CanadianHolidays #BCPride #AugustLongWeekend #CanadianHeritage #BCCulture #ExploreBC #HistoryOfBC #StatHoliday #CanadaLife #ProudToBeCanadian

Are you snuggling up by a fireplace or using a wood or pellet stove in Metro Vancouver? Good news—there's no cost—but there’s a new rule: you must register your appliance and declare you burn cleanly.

📜 What Is Bylaw 1303?

Metro Vancouver Regional District’s “Residential Indoor Wood Burning Emission Regulation Bylaw No. 1303, 2020” aims to reduce harmful wood smoke emissions from homes and safeguard air quality and public health. It came into force in stages from 2020 through 2025.
👉 Read the full bylaw here (PDF)

Who & What Is Affected?

Homes within Metro Vancouver’s Urban Containment Boundary—which includes Richmond, Vancouver, Burnaby, Coquitlam, Surrey, and more—must comply if they use any of these:

• Open fireplaces

• Wood stoves or inserts

• Pellet stoves

• Masonry heaters

• Wood-burning furnaces
  👉 Check eligibility and locations here

✅ What You Must Do

1. Submit a Declaration of compliance with best burning practices (Schedule B).

2. Register each eligible device before September 15, 2025. No fee—registration is free.
   👉 Register your wood-burning device

Fail to comply, and after initial education and warnings, you could face fines ranging from $100 to $500.
👉 More info on enforcement and penalties

🪵 What Are Best Burning Practices?

• Burn only clean, seasoned wood (≤ 20% moisture), pellets, or approved firelogs

• Never burn garbage, treated or painted wood, plastics or rubber

• Keep fires small, hot and avoid smoldering

• Only visible smoke during startup—and no more than 20 minutes in any 4‑hour period

• Maintain your appliance properly and inspect regularly
  👉 Best practices guide

🚫 Seasonal Restrictions & Exceptions

• Burning is prohibited from May 15 to September 15 each year — unless:

  • Your wood device is your sole source of heat

  • You live off‑grid outside the urban containment boundary

  • There’s an emergency (e.g., power outage lasting over 3 hours)
    👉 More on seasonal rules

• From September 15, 2025, unregistered devices can no longer be used—except for low income households or emergencies.

📝 Device Registration Eligibility

You can register devices that:

• Meet Canadian or US certification standards, or emit ≤ 4.5 g/hour of fine particulates (Schedule A)

• Are the sole source of heating in your home

• Operate exclusively with manufactured firelogs and emit no visible smoke
  👉 Device registration info and form

You’ll need documentation like model info, certification labels, receipts, or a declaration, depending on eligibility.

🖋️ Penalties & Enforcement

Metro Vancouver will begin with educational outreach, then warnings. Continued non‑compliance may lead to municipal tickets or notices, and fines up to:

• $500 for violations of declarations or registration requirements

• Up to $10,000 for ongoing offences or false information submitted

🧾 Summary Table

🌟 Why It Matters

Wood burning is the largest contributor of fine particulate air pollution in Metro Vancouver. These particles harm lungs and heart—especially in children, seniors, and those with respiratory conditions. Bylaw 1303 is designed to curb that pollution and keep community air cleaner.
👉 About the air quality program

💡 Call to Action: What You Should Do Now

1. Visit Metro Vancouver’s online Residential Indoor Wood Burning System to declare compliance and register devices if needed.
   👉 Start here

2. Gather your appliance info (model, certification, fuel type).

3. If renting or in a strata, notify your property manager or strata corp—they must ensure compliance too.

4. Practice clean burning moving forward!

🔥 Don’t be caught out this winter—declare, register, and burn clean!

💬 Tara Kennedy
Realtor® | Tri-Cities Real Estate
📞 236-992-8989
📧 TaraKennedySells@gmail.com
🌐 www.tarakennedy.ca

#MetroVancouver #Bylaw1303 #FireplaceRegistration #WoodBurningBylaw #MetroVanAirQuality #CleanBurning #EcoHeating #TriCitiesLiving #CoquitlamRealtor #PortMoodyRealEstate #PortCoquitlamHomes #HomeownerTips #FireplaceSafety #HomeHeating #EnvironmentFirst #WinterReadyBC #BCHomeowners #HomeRegulationsBC #RegisterYourFireplace #MetroVanRules #TaraKennedyRealtor

Did you know that everything poured into storm drains in Port Coquitlam flows directly into our streams, rivers, and oceans — without any treatment? 😲 That means if you dump soap 🧼, oil 🛢️, pet waste 🐾, or chemicals ☣️ down a storm drain, you’re polluting precious habitats for fish 🐟, birds 🦆, and other wildlife.

But what about toilets and sinks? Wastewater from toilets, sinks, and other household drains 🚽 flows through a completely separate system called the sanitary sewer. This wastewater is carried to a wastewater treatment plant where it is cleaned and purified before being safely released back into local rivers, lakes, or the ocean. This process removes harmful substances and pollutants to protect the environment. In some cases, treated water may even be reused for irrigation or industrial purposes, depending on local regulations.

Unlike wastewater, storm drains only collect rainwater 🌧️ runoff. Pollutants in storm drains can suffocate aquatic life, destroy habitats, and poison the environment.

Special Note for Vehicle Washing 🚗💦:
If you wash your vehicle on your driveway, the soapy water and grime can flow into storm drains and directly pollute our waterways. Whenever possible, wash your car at a commercial car wash where water is treated, or use biodegradable soaps and minimize water runoff. This small change helps protect our rivers and lakes!

🌿 Every little action counts! Help keep Port Coquitlam’s waterways clean and healthy by putting only rainwater down storm drains.

For more information and tips on protecting our water:
🔗 Port Coquitlam Watercourse
Need help disposing of household waste properly? Use the Sort It Right! tool:
🔗 Sort It Right!

Tara Kennedy
Realtor® serving Port Coquitlam, Port Moody, Coquitlam & the Tri-Cities
📞 Phone: 236-992-8989
✉️ Email: TaraKennedySells@gmail.com
🌐 Website: TaraKennedy.ca

Let’s work together to protect our community’s natural beauty and keep our waterways clean for generations to come! 💚🌎🐠

#PortCoquitlam #CleanWater #ProtectOurWaterways #StormDrainSafety #EcoFriendlyLiving #WaterConservation #SaveOurStreams #WildlifeProtection #GreenCommunity #SustainableLiving #SortItRight #WaterwayProtection #EnvironmentalAwareness #DrivewayCarWashTips #HealthyHabitats #WaterTreatment #StormwaterManagement #ProtectNature #TaraKennedyRealtor #TaraKennedy #RoyalLepageEliteWest #PortCoquitlamRealtor

Ready to step into the rainforest nobody knows about? Beginning August 1st, Squamish Canyon officially opens its gates — and it’s more than just a walk in the woods.

📍 Just outside Squamish, this new eco-experience weaves elevated boardwalks through a lush, temperate rainforest, offering jaw-dropping canyon views usually reserved for hardcore backcountry hikes — no hiking boots required.

🌿 What to Expect:
✔️ Scenic boardwalks + a cantilevered bridge
✔️ A massive nature-themed playground
✔️ The Forest Lounge (local bites, cocktails, BC wine & beer)
✔️ Moss and Mug Café (pre-admission, dog walkers welcome!)
✔️ A shop featuring Indigenous-made & local Squamish goods
✔️ Family-friendly programming & games for kids
✔️ And views that will seriously take your breath away

Squamish Canyon was created with conservation in mind — built to protect, not disturb, the natural environment. The team worked closely with the Sḵwx̱wú7mesh Úxwumixw (Squamish Nation) to open the door to deeper storytelling and cultural connection.

💬 “We want people to walk away with a sense of awe… and a reminder of the beauty of where we live,” says general manager Ken Bailey.

🎟️ Opening Day: August 1, 2025
🕘 Open daily, 9 a.m. – 6 p.m. (last entry at 5 p.m.)
📍 39180 Powerhouse Springs Rd., Squamish, B.C.
🚗 Drive-in only, timed entry (100 guests per half hour)

👉 Book your tickets now at squamishcanyon.ca – spots are limited!

Get ready to explore a rainforest you’ve never seen… and won’t soon forget. 🌧️🌲💚

#SquamishCanyon #BCRainforest #EcoTourism #ExploreSquamish #OpeningSoon #FamilyFriendlyAdventure #SquamishNature #SupportLocalBC

Across British Columbia—especially in the Tri-Cities—there’s a quiet but significant factor shaping our housing crisis: seniors choosing not to downsize. Many are remaining in their long time family homes well into their 70s, 80s, and beyond 👵👴. While their reasons are completely valid, this trend is having ripple effects on housing availability particularly for younger buyers 🏘️🧑‍💼.

Let’s explore what’s driving this trend, why it matters, and what needs to change.

🏘️ Seniors Aren’t Downsizing — The Data Tells the Story

According to the 2016 Canadian census and a 2023 CMHC report, Canadians aged 75+ are the least likely to move. In BC, where roughly 80% of seniors own their homes, this trend is especially impactful. In fact, the “sell rate” among those over 75 has been declining steadily since 1991 📉.

Most are still living in 3 or 4 bedroom homes ~ even after the kids have moved out. Between 2006 and 2021, the number of homes with underutilized bedrooms rose from 26% to 29% nationally. Cities like Coquitlam, Port Moody, and Port Coquitlam continue to show a large percentage of “empty nest” homes with unoccupied space 🛏️➡️📦.

💬 Why Aren’t Seniors Moving?

The stereotype of retirees excited to downsize and travel doesn’t reflect the full picture.

Many seniors are choosing to stay for important reasons:

• 💔 Emotional attachment to long-time homes

• 🦽 Mobility or cognitive challenges

• 💸 High costs of moving: staging, legal fees, movers, and renovations

• 🏷️ No real financial benefit from selling and buying again

• 🌿 A lack of senior-friendly homes where they can garden, host family, or age comfortably

Most who do move, do so under stress - following a health crisis or financial hardship and not by choice.

🏢 The Condo Conundrum

Let’s look at the "downsizing" alternatives seniors are offered.

In Metro Vancouver, the average detached home is about 2,000 sq ft. New condos? Just 650–769 sq ft, and often even smaller in newer developments 📏. These micro-units are rarely suitable for older adults.

With little storage, no outdoor space, and layouts built for young professionals—not aging residents—most seniors see these homes as a lifestyle downgrade, not a step forward.

Even financially, downsizing doesn’t always add up. The cost of new condos in walkable Tri-Cities neighbourhoods is often close to the sale price of their family homes, meaning there’s little financial incentive to move.

💰 The Property Transfer Tax (PTT): A Hidden Barrier

BC’s Property Transfer Tax (PTT) is a major obstacle for seniors considering a move:

• 1% on the first $200,000

• 2% on the portion between $200,000 and $2 million

• 3% on the amount over $2 million

That means a senior selling a $1.5M home and purchasing a $1.2M condo could pay $20,000+ in PTT alone, before accounting for legal fees, moving costs, or renovations 💵.

It’s no wonder many ask: Why would I move just to pay more taxes and get less space?

⚠️ BC’s Housing Policy Is Missing the Mark

A recent CTV News report highlights how BC’s government is encouraging seniors to move in order to “make room” for younger families. But this puts undue pressure on older adults to solve the housing crisis—and ignores the root issue: we aren’t building the right kinds of homes.

Here’s where the strategy falls short:

• 🔹 A lack of truly senior-friendly builds — single-level, accessible, and adaptable

• 🔹 Minimal options in desirable, connected neighbourhoods (like the Tri-Cities)

• 🔹 Few multigenerational or mid-sized homes, despite demand for them

🌻 Seniors Still Want a Life — Not Just a Roof

For many older homeowners, life in their current home includes gardening 🌿, having family over 🍽️, and space for grandchildren to visit 🧸. Downsizing to a 600 sq ft condo with no patio or guest room strips away those joys.

Instead of pushing seniors to move, BC should:

✅ Offer PTT relief for those who rightsize
✅ Incentivize developers to build homes that actually meet aging needs
✅ Respect lifestyle and community connections instead of defaulting to "smaller is better"

🧠 Final Thoughts: A Better Approach for Everyone

It may seem counterintuitive, but helping seniors transition on their own terms could be the key to unlocking inventory for families and first-time buyers 🔄🏘️.

We need empathy, policy reform, and housing options that reflect real lives—not just market math.

👋 Thinking of Downsizing or Helping a Loved One Navigate a Move?

I specialize in working with both senior homeowners and first time buyers …. and I’m here to guide you with honesty, care, and practical solutions.

📞 Tara Kennedy
🏡 REALTOR®, ABR, RENE, SRS
📧 TaraKennedySells@gmail.com
📱 236-992-8989
🌐 TaraKennedy.ca

Let’s have a conversation about what truly works for you—today and tomorrow. ☀️

#TriCitiesRealEstate #PortCoquitlam #Coquitlam #PortMoody #TaraKennedy #RoyalLePageEliteWest #HomeSweetHome #RightSizeNotDownsize #SeniorLivingSolutions #BCRealEstate #BCPropertyTransferTax #SeniorsHousingCrisis #RealEstate #TaraKennedyRealtor #EmptyNestHomes #HelpingSeniorsMove #AgeInPlaceBC #SmartMovesBC #UnlockHousingInventory #Downsizing 

As of July 24, 2025, the BC Financial Services Authority (BCFSA) has released important updates affecting how property information and defects must be disclosed in real estate transactions. Whether you're buying, selling, or advising clients, these changes could impact the way deals are structured, negotiated, and protected from future legal complications.

🧠 Why These Changes Matter

The updates were triggered by a BC Court of Appeal decision in Sewell vs. Abadian, prompting the British Columbia Real Estate Association (BCREA) to revise key disclosure forms. In turn, BCFSA updated its guidelines to promote greater transparency and reduce post-transaction disputes.

📋 What's New in Disclosure?

1. Revised Property Disclosure Statement (PDS)

   • Licensees are strongly encouraged to have sellers complete this form accurately and in full.

   • It now includes a disclaimer stating that information is accurate as of the date completed and may not reflect current conditions.

   • Blank or incomplete forms can carry risks for sellers and create suspicion among buyers.

2. NEW: “Property No Disclosure Statement”

   • Gives sellers the option to disclose nothing—but this comes with risks.

   • Buyers should view this as a red flag and conduct additional inspections or due diligence.

3. NEW: “Realtor’s Disclosure of Material Latent Defects”

   • Replaces the old “Seller’s Disclosure” version.

   • Includes a seller acknowledgement confirming they understand the licensee's disclosure obligations.

   • Authorizes the licensee to disclose material latent defects, even if the seller is unwilling to share information themselves.

👀 What Buyers & Sellers Should Know

🏠 For Sellers:

• Complete the PDS honestly and fully—it improves your property's credibility and marketability.

• Avoiding disclosure or choosing the “No Disclosure” form may scare off buyers or expose you to legal claims after closing.

• Remember: even without a form, you have a common law duty to disclose latent defects.

🔍 For Buyers:

• A “No Disclosure” form should raise questions. It doesn’t always mean there’s a problem—but it does mean you need to dig deeper.

• Consider making a completed PDS a condition in your offer.

• Check with your lender—some may not approve financing if full disclosure isn’t provided.

🤝 What Real Estate Professionals Need to Do

• Encourage sellers to fully complete the PDS wherever possible.

• Review the new forms and educate your clients on the implications of using or not using them.

• Ensure your buyers understand their rights, risks, and what additional steps to take when disclosures are limited.

📌 Final Thoughts

Disclosure is not just a legal box to tick—it’s a key piece of building trust, avoiding disputes, and ensuring a smooth transaction. These changes from BCREA and BCFSA underscore the importance of clear communication and professional guidance in every step of the real estate journey.

🔔 Have questions about how these changes could impact your home sale or purchase? I’m here to help you navigate with confidence. Let’s talk.

✨ Tara Kennedy
🏡 REALTOR®, ABR, RENE, SRS
📞 236-992-8989
🌐 TaraKennedy.ca
📧 TaraKennedySells@gmail.com

#BCRealEstate #BCFSA #BCREA #PropertyDisclosure #MaterialLatentDefects #RealEstateUpdate #HomeBuyers #HomeSellers #RealEstateAdvice #RealtorTips #RealEstateRegulations #BCPropertyMarket #RealEstateBC #TransparencyMatters #LegalRiskInRealEstate #TaraKennedyRealtor #TaraKennedy #RoyalLePageEliteWest #PortCoquitlamRealtor #CoquitlamRealtor #PortMoodyRealtor 

Vancouver’s housing market has cooled, but if you’ve been hearing that it’s all because of global “uncertainty,” it might be time to take a second look.

In a recent analysis from Andrew Lis at REBGV, we’re given a deeper — and more data-driven — breakdown of what’s really happening.

📈 What's the Market Saying?

While Toronto is seeing a sharp rise in condo inventory, Vancouver’s increase has been more modest and better balanced across all property types. MOI (Months of Inventory) in Vancouver is up ~35% compared to double in Toronto.

Even more interesting:

• Vancouver home prices are still up ~1% year-over-year

• Toronto prices have dropped nearly 2%

🧠 What the Media Thinks Is Causing This

The popular theory? Global uncertainty, interest rate jitters, and trade war fears (yes, Trump again).
But according to Lis — the data doesn’t support that theory.

➡️ BC & Ontario have always been expensive
➡️ Borrowing costs have come down, not up
➡️ Other expensive markets like Alberta are thriving despite the same global environment
➡️ Historically, no strong correlation exists between uncertainty and Vancouver sales dips

🔍 So What’s Really Going On?

Lis turns the question around:
Instead of asking “Why are BC and Ontario slow?”
👉 We should be asking: “Why are so many other markets doing well?”

His analysis challenges assumptions, invites more curiosity, and opens the door for fresh thinking in a complex market.

💬 Final Thought

This slowdown is not business as usual — and it’s not explained by the usual suspects.

As a local REALTOR® staying on top of this evolving story, I’m here to help you navigate what this means for your next move.

📞 Let’s connect if you’re thinking about buying or selling in the Tri-Cities area.

📍Tara Kennedy – REALTOR®
Serving Coquitlam | Port Coquitlam | Port Moody
🔑 Real Advice. Real Results.

🔑 #TaraKennedyRealEstate #YourRealtorInTheTricities #CoquitlamRealEstate #PortMoodyRealtor #PortCoquitlamHomes #VancouverRealEstate #AndrewLis #HousingTrends #RealEstateInsights #TriCitiesRealEstate #HomeBuyingBC #BCRealtor

In an important move to address British Columbia’s ongoing housing supply challenges, the provincial government has announced a major policy change that could help developers access capital more easily and get new projects underway sooner.

On July 2, 2025, Housing Minister Ravi Kahlon shared that starting in January 2026, developers throughout B.C. will be permitted to use on-demand surety bonds instead of traditional irrevocable letters of credit to secure municipal development fees. While this may sound technical, the impact could be substantial especially for smaller and mid-sized builders.

💡 What’s Changing?

Currently, developers must:

• Pay at least one-third of their municipal development charges when a subdivision or building permit is approved.

• Pay the remaining balance within two years.

Under the new system:

• Developers will only need to pay 25% at permit approval.

• The remaining 75% can be deferred until occupancy or within four years, whichever comes first.

Additionally, the province is expanding the use of surety bonds, which are already being used in municipalities like Vancouver, Burnaby, and Surrey. These bonds act as a financial guarantee but don’t tie up capital the way traditional letters of credit do—allowing developers to reinvest in construction rather than locking funds away.

🏗️ Why This Matters

B.C. is in the midst of a housing affordability crisis, and developers have been facing increasing barriers:

• Rising material costs due to tariffs

• Softening presale activity

• Lower immigration numbers

• High interest rates

• Tightening credit markets

• Fewer rental property investors

These financial pressures have made it difficult for many developers, especially smaller ones, to get projects off the ground. Some have even had to lay off employees or cancel developments entirely due to the inability to secure enough capital.

By easing upfront financial requirements and expanding bond options, the province hopes to:

• Encourage more housing starts

• Lower early-stage carrying costs

• Make projects more viable

• Support a faster delivery of homes across the province

🗣️ What Industry Leaders Are Saying

Terry Hui, CEO of Concord Pacific, called the announcement a “good initiative” and acknowledged the immense pressure developers are under from all angles. “This policy will help, especially as financing becomes harder to secure,” he said, noting that smaller builders stand to benefit the most.

Anne McMullin, President of the Urban Development Institute, emphasized that requiring full payment of development charges upfront has been increasingly “onerous” and was slowing down new supply. “By shifting payment to occupancy, the provincial government is enabling more projects to move forward,” she said.

🚪 What’s Next?

This policy will officially take effect in January 2026 and applies to all communities in British Columbia. The goal is to unlock stalled or delayed housing projects and improve affordability through increased supply.

As someone deeply engaged in the real estate market, I see this as a positive step forward. The combination of more flexibility and better capital access could play a critical role in getting new homes built—and in helping more people find a place to call home in B.C.

If you’re thinking about buying or selling, or just want to stay informed about local housing policy, I’d love to chat.

✨ Tara Kennedy
🏡 REALTOR®, ABR, RENE, SRS
📞 236-992-8989
🌐 tarakennedy.ca
📍 Serving the Tri-Cities and surrounding areas

#BCHousingPolicy #HousingStarts #BCRealEstateNews #UrbanDevelopment #SuretyBondsExplained #TaraKennedyRealtor #BCRealEstateUpdate #AffordableHousingSolutions #TriCitiesRealEstate #TaraKennedy #RoyalLepageEliteWest #TaraKennedyRealEstate #HomeSweetHome #BCHousing #BCRealEstate #HousingNews #RealEstateUpdate #DevelopmentNews #HomeBuilderSupport #AffordableHousing #VancouverRealEstate #TriCitiesRealEstate #NewHomeDevelopment #MarketUpdate #RealEstateCanada #InvestInRealEstate #PolicyMatters #BCGovernmentUpdate #SmartHousingPolicy #BuildMoreHomes #RealEstateNews #RaviKahlon #SuretyBonds #HousingCrisisSolutions #RealEstateInvestment #PropertyDevelopment

After a rocky start to 2025, Metro Vancouver’s real estate market is showing encouraging signs of stabilization. While overall sales activity is still below long-term averages, the gap is narrowing — and that signals a potential shift in momentum.

According to the Greater Vancouver REALTORS® (GVR), a total of 2,181 residential properties were sold across Metro Vancouver in June 2025. This represents a 9.8% decrease year-over-year, but it's a marked improvement over May’s sharper decline. In fact, the year-over-year sales drop in June was half the size of May’s, suggesting the market may be rounding a corner.

📊 Key Market Highlights for June 2025

Sales Activity

• Total home sales: 2,181

• Down 9.8% from June 2024 (2,418 sales)

• 25.8% below the 10-year seasonal average (2,940)

Detached home sales:

• 657 units sold, down 5.3% YoY

• Benchmark price: $1,994,500 (↓ 3.2% YoY)

Apartment sales:

• 1,040 units sold, down 16.5% YoY

• Benchmark price: $748,400 (↓ 3.2% YoY)

Townhouse sales:

• 473 units sold, up 3.7% YoY

• Benchmark price: $1,103,900 (↓ 3.0% YoY)

Inventory Levels

• 6,315 new listings hit the market in June — a 10.3% increase from June 2024

• Total active listings: 17,561, up 23.8% YoY

• Inventory is now 43.7% above the 10-year seasonal average

This increase in inventory offers buyers more selection and negotiating power, while also providing some breathing room for the market overall.

🔍 Sales-to-Active Listings Ratio

The overall sales-to-active listings ratio for June 2025 sits at 12.8%, placing most property types in balanced market territory:

• Detached: 9.9%

• Attached: 16.9%

• Apartments: 13.9%

Historical trends suggest that when this ratio falls below 12% for a sustained period, prices typically come under downward pressure. On the other hand, ratios consistently above 20% often lead to upward price movement. Currently, the data supports a holding pattern, where prices are neither rising nor falling dramatically.

💬 Expert Insight

Andrew Lis, Director of Economics and Data Analytics at GVR, summarized the month’s results this way:

“With over 17,000 homes on the market and mortgage rates down about two per cent since last summer, buyers are enjoying some of the most favourable conditions seen in years.”

Lis also noted that while sales are still underperforming historic norms, the downward trend is easing — potentially setting the stage for a rebound in the second half of the year.

🔑 What This Means for You

For buyers, this is a rare opportunity. Inventory is strong, competition is manageable, and mortgage rates are more attractive than they’ve been in recent memory.

For sellers, pricing strategy is key. While prices have dipped slightly year-over-year, they're holding relatively steady month-over-month. Homes that are well-presented and correctly priced are still selling — especially in the attached segment, where sales have actually increased.

Whether you're buying your first home, upgrading, downsizing, or considering selling, staying informed is essential. Real estate is local, and no two neighbourhoods move at the same pace.

🏡 Let’s Talk About Your Next Move

If you’re curious about what these numbers mean for your specific situation — or you're ready to take the next step — I’d love to help you navigate today’s market with confidence.

✨ Tara Kennedy
🏡 REALTOR®, ABR, RENE, SRS
📞 236-992-8989
🌐 www.tarakennedy.ca

#MetroVancouverRealEstate #June2025MarketUpdate #BCRealEstate #HomePrices #HousingMarketTrends #RealEstateNews #CoquitlamRealtor #VancouverHomes #MLSStats #GVRStats #BalancedMarket #RealEstateExpert #TaraKennedyRealtor #BuyWithConfidence #SellSmart #HomeOwnershipBC