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MLS® Disclaimer for BC: This representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Real Estate Board of Greater Vancouver which assumes no responsibility for its accuracy.
Building Info
Ashcombe 8415 Cumberland Place, Burnaby, BC V3N 5C3, LMS4311 Located in the heart of East Burnaby on Cumberland Place. Ashcombe by Polygon's English Cotswold style inspired townhouse complex is a hidden gem tucked away at the end of a cul-de-sac and is surrounded by green space. This is a central location that is close to transit, restaurants, coffee shops, minutes to Lougheed Shopping Centre, medical services and a recreation centre. Direct access to the Trans Canada Highway and other major routes allows an easy commute to surrounding destinations including Vancouver, New Westminster and Surrey. Ashcombe offers 92 units built in 2001 that are professionally managed. Most homes feature outstanding open floor plan with large rooms, spacious kitchen, loads of storage, insuite laundry, cozy fireplaces, double car garage, huge master bedroom and walk-in closets. Ashcombe offers a rare combination of location, privacy and natural light that is truly one of a kind townhome living at its best!
Fed would keep near 0% rates for the foreseeable future
The Fed’s governing body, the Federal Open Market Committee (FOMC) said in a statement that it would keep the target range for the federal funds rate at zero to ¼%, “and expects it will be appropriate to maintain this target range until labor market conditions have reached levels consistent with the Committee’s assessments for maximum employment and inflation has risen to 2 percent and is on track to moderately exceed 2 percent for some time.”
BC Real Estate investment decline to its lowest level since 2015
A total of 84 deals valued at $1.5 billion were completed during the first six months of the year. This was far below the levels seen from 2016 to 2019, which saw first-half investment in office, retail, and industrial assets exceed $2.7 billion in each category.
Latest figures from the Canadian Real Estate Association showed that at present, it would only take 2.6 months to sell all the residential listings in the national market. The national average home price shot up by 18.5% annually last month, exceeding $586,000.
An earlier poll by Reuters predicted that the rate would stay at 0.1%, essentially unchanged from the July reading. This was far below the Bank of Canada’s 2% target, and lower than even the modest 0.4% year-over-year increase projected by economists in a Refinitiv survey.
As Pandemic goes on, what should Canadians strategic plan with their U.S. properties?
Owning a U.S. property, whether it’s a second residence an owner is unwilling to travel to, a vacation rental that has been sitting empty since April, or a long-term rental whose tenants can’t pay their rent, is not the largely frictionless experience it was in January or February.
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