Richmond, BC Real Estate News

By Sheila Atienza, Book Author/Content Creator
(Privilege Digital Media)
The Terra Nova Neighbourhood in Richmond BC When one is looking at home ownership possibility, location is apparently the very very first thing to look at. "What kind of environment does it have?" is a usual question and a great factor to consider. As several properties in the Terra Nova area are available in the current market, it is very timely to feature the neighbourhood so people may have a better idea of what this popular Richmond area promises. If one has to describe this enchanting neighbourhood, one can't help but mention that Terra Nova indeed is a place for nature lovers. The setting is unique in such a way that one enjoys the beauty and view of mountains, river and wildlife while strolling along the west side dyke. Travellers do enjoy the adventure either through walking or ...
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By Sheila Atienza, Book Author/Content Creator
(Privilege Digital Media)
Great Terra Nova Townhome Unit ideal for family! Here's a Terra Nova Townhome Unit that offers great features and benefits.  For a family that's looking for a property that is located near school, transportation,shops and various social services, this unit might be something you might be waiting for. In addition to proximity and access to convenience, the unit certainly boasts of qualityand style. The property has new carpet, laminate flooring,  moulding, kitchen tiles; and 4th bedroom could be an office or rec/hobby room. The unit has also front yard with garden. This unit may be viewed on Saturday or Sunday between 1:30-3:00pm. You may also call 778-896-4493 for other details.
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By Sheila Atienza, Book Author/Content Creator
(Privilege Digital Media)
Richmond Terra Nova TownHomes There about sixteen (16) units in the Richmond Terra Nova neigbourhood actively listed as of today in the Multiple Listing Service (MLS). This shows that home buyers who are from Richmond  or even those who come from the neighbouring cities can now have the opportunity to look into that option of owning a piece of property in a setting that reflects nature and admirable community. Home owners in the Terra Nova neighbourhood do enjoy access to easy shopping in the TerraNova Shopping Mall, Save-on-Foods, Starbucks, and other retail stores, banking and healthservices located in No. 1 Road and Westminster Highway; not to mention a short walk to dining and fitness facilities. If you would like to view the units available in the area of Terra Nova, please call 77...
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By James Wong Vancouver Richmond, Chinese Realtor, Vancouver > Richmond
The reasoning for trading up in a down Richmond housing market is best summed up by Sebastian Albrecht, a Vancouver Realtor at Royal LePage Westside. The housing market in Richmond is similar to the markets in other Greater Vancouver Municipalities. Home prices had come down by 10% to 12% from the peak towards the end of 2007. Trading Up Obviously, you must have the need for trading up to a newer or larger home, a better neighborhood and you can afford to make the move. If you are in a similar situation wondering whether you should trade up, the post helped to explain why you should do it: "Not only is our young couple saving money, they are also more likely to find the home that they want in this market. There are lots of choices and you have the luxury of finding the right home for yo...
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By James Wong Vancouver Richmond, Chinese Realtor, Vancouver > Richmond
Richmond Real Estate Pricing Trend The most common question asked by home buyers on the value of a home is the relationship between current market price and the city assessment value of a property. The market value of a detached home is affected greatly by the location, home condition, and improvements done to the house. Homes that are more desirable will command higher selling prices. The city assessment value being an aggregrate valuation of similar homes in the neighborhood, will not reflect the dsirability of a home to a buyer. What can the city assessment value tells us? The city assessment value being a previous year's value is a lagging indicator. City assessment value tends to be lower than the market value in a rising market. During the boom years from 2005 to 2007, the selling...
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By James Wong Vancouver Richmond, Chinese Realtor, Vancouver > Richmond
Richmond Housing Trend from total sales recorded since 1998 reached the highest number of homes sold in 2005. That year, the total number of homes sold were 4,335 units with a monthly average of 470 units. The 2-year moving average trend line indicated sales momentum was slowing down in 2006 and 2007. The trend line as shown on the chart below (up to September 2008) showed that 334 average monthly sale was 12% lower than the 380 trend line units. The September home price decline as reported for Greater Vancouver was around 8%. Richmond will follow the general market, and a decline in the median price can be expected in the next few months. There are no positive news in the market and BC economy that will help to reverse this housing price decline. Tracking The Sales The July, August and...
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By James Wong Vancouver Richmond, Chinese Realtor, Vancouver > Richmond
Richmond BC Real Estate Declining Market Since April, 2008, home sales activities in Richmond dropped significantly. Home prices were trending down as there were more sellers than buyers in the market place. Another housing market tracking and pricing charts presented by Brian Ripley showed that Edmonton's home prices peaked in May, 2007 and Calgary followed in June, 2007. Vancouver's top was recorded in June, 2008 and since then prices had been declining significantly for July, August and September. The price correction will continue until demand picks up. This will happen when prices reach a level when home buyers are feeling comfortable to get back into the market. Presently, Richmond inventory is still very high, with around 11 months supply of homes. Unless sales improve or the num...
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By Sheila Atienza, Book Author/Content Creator
(Privilege Digital Media)
Richmond BC, Canada- Prospective borrowers and homebuyers who have had or likely to go through credit problems are often faced by a question on the impact of public record such as debt consolidation/counselling or bankruptcy when applying for a mortgage. Generally, record such as bankruptcy as well as debt consolidation/consumer proposal will likely stay in the credit report for a long period of time. In Canada for example, record appears up to 7 years for bankcruptcy. Lenders or banks look at the borrower's profile based on re-established credit (after the bankruptcy or after one had concluded a consumer proposal). A mortgage broker can look at an application and give advice on client's particular situation prior to sending it to lender or bank. Down payment certainly can help. How muc...
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By James Wong Vancouver Richmond, Chinese Realtor, Vancouver > Richmond
Why Best of Richmond BC? It is about time that Richmond residents write about the "Best of Richmond BC" and tell others why they nominate the restaurants, people, places, experiences, shops, etc. As the subject is about the Best of Richmond BC, all submission are to be related to Richmond, BC. Richmond's residents are welcomed to send in their articles, stories and photos. Photographic enthusiasts are also encourage to submit their favorite pictures as a supplement to the "Best of Richmond". Localism, Richmond BC The nomination will be posted on "Localism.com/bc/Richmond". The Administrator for this online website is James Wong, a long time resident of Richmond. All appropriate articles will be processed and posted on Merchant Sponsors Local merchants are encouraged to sponsor and provi...
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By James Wong Vancouver Richmond, Chinese Realtor, Vancouver > Richmond
Changes are coming to Richmond City Centre Two years ago, ALEXIS ROOHANI wrote: The rush to Richmond Planners are preparing for a tripling of the population over the next 25 years as Vancouver's housing refugees flock to the suburb in search of affordability and a better quality of life, writes ALEXIS ROOHANI ALEXIS ROOHANI Special to The Globe and Mail POSTED ON 06/10/06 Richmond is coming of age, and its claim to fame is beginning to reach well beyond its reputation for prolific shopping centres and tasty Chinese cuisine. "Richmond has a higher profile. You think about moving here now," says Tracy Lakeman, a veteran of the Strathcona area who moved to Richmond with her partner in 2005, buying a home in Richmond's Seafair neighbourhood. "It's not so much a suburb of Vancouver any more;...
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By James Wong Vancouver Richmond, Chinese Realtor, Vancouver > Richmond
As reported by CBC News A Statistics Canada study that shows people in Richmond, B.C., have a higher life-expectancy than those in Japan has stumped at least one expert. The report Health Indicators, released Tuesday, shows that babies born in Richmond today can expect to live to an impressive average of 83.4 years, two years more than the average in Japan, which tops the World Health Organization's rankings. "That's ridiculously high," John Hsieh, a professor of biostatistics at New York's University of Rochester, told CBC News Online. Hsieh said that Richmond's average age means that there are many people living to almost 100 and very few who are dying in their 60s. Click here to read the full article Relocating To Richmond If your are retiring, you may want to consider settling down ...
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By Sheila Atienza, Book Author/Content Creator
(Privilege Digital Media)
Richmond, British Columbia, Canada - A usual question of a prospective homebuyer is whether it is a good time for him or her to finally buy a home, or perhaps, wait for a little while, until he or she feels that the market is totally down. In this way, the homebuyer thinks he or she can speculate and avail of a much lower property price. Hence, the wait-and-see attitude is evident. Thus, resorting to renting backed by his or her own reasons is what he or she is likely to act upon. Renting for some people is probably something they prefer. Who could argue that? However while in the period of waiting, a renter still pays his or her rent. The amount in the long run could be quite substantial. Let's say you pay for your monthly housing rental for eight hundred dollars ($800.00). In twelve m...
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By Sheila Atienza, Book Author/Content Creator
(Privilege Digital Media)
Richmond, British Columbia, Canada - Thinking about your Mortgage??? Is your mortgage up for renewal?Do you need to access funds through your home equity?Do you want to grow your investments?Do you need cash flow for your business? When you have a mortgage, the responsibility to look at your mortgage in every aspect of it is something that you will have consider prior to deciding on your next step. You will have to look at the following questions and see if you are quite ready to deal on your mortgage:  What interest rate was offered to you by your bank? Do you need to shop for rates? Is there an effect to your credit scores when you do the shopping yourself? Are you comfortable with your bank officer? Do you know what questions to ask? Do you know exactly what mortgage products are are...
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By Sheila Atienza, Book Author/Content Creator
(Privilege Digital Media)
Richmond, British Columbia, Canada - If you are in a scenario where you have savings in the bank that lets you earn somewhere between two to three percent return, would you be content or satisfied with the rate of return? I guess, you may start to contemplate where will you move your money into so you can get better return. Hence, some may be tempted to look at the stock market. Unfortunately the ups and downs of the stock market industry presents volatility. That's a fact. How vulnerable could you be with your money? It seems that anywhere you go these days, you are likely to get hurt with your money, no matter how big or little you've got. You still want to be in a better position. Investing in a real property where it lets you earn rental income, leverage through home equity or specu...
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By Sheila Atienza, Book Author/Content Creator
(Privilege Digital Media)
Richmond, British Columbia, Canada - For those of you who live or work in Richmond, or its neighbouring cities like Vancouver or Surrey, and have been trying to get into the housing market for the first-time, this is the right opportunity for you to look into the apartment listings available in the area near Richmond Centre. Record of property listings from MLS as of yesterday, September 22, 2008, in Moffatt alone,  at least thirty four units (34) are currently in the market, while Minoru has around thirty six units (36). Both Moffatt and Minoru areas are considered to be hot locations in the city of Richmond because of their proximity to schools, recreation centres, parks, convenience stores, shopping mall, gasoline stations, library and of course transportation. When you are thinking ...
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By James Wong Vancouver Richmond, Chinese Realtor, Vancouver > Richmond
The following table summarized the August sales of condos in Richmond: Price Range No. Units Per Cent Active Listings List/Sale Ratio < $300,000 41 53% 329 8.0 mth $300,001-$400,000 25 32% 338 13.5 mth $400,001-$500,000 6 8% 208 34.7 mth Over $500,001 5 7% 110 22.0 mth Total Units 77 100% 985 12.8 mth At the beginning of 2008, Richmond's housing market was strong, registering list/sale ratios at around 4 months. Since April, the collapse in the real estate market in B.C. had resulted in Richmond's list/sale ratio increasing to 12.8 months in August. The housing market is now a Buyer's market. There were many media articles in the past few months that could have contributed to many home buyers staying on the sideline. The above analysis showed that the fastest selling condos in Richmond ...
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By James Wong Vancouver Richmond, Chinese Realtor, Vancouver > Richmond
The following table summarized Richmond's August sales: Price Range No. Units Per Cent Active Listings List/Sale Ratio $500,000-$650,000 25 45% 210 8.4 mth $650,001-$800,000 13 23% 350 26.9 mth $800,001-$999,000 9 16% 169 18.7 mth Over $1,000,000 11 20% 280 25.5 mth Total Units 56 100% 1,009 18.0 mth Detached Home Sold In Richmond - August 2008 An analysis on the types of detached homes sold in Richmond revealed some very interesting data. It can be seen from the sales summary here that detached homes under $650,000 formed 45% of the detached homes sold for the month. About one-quarter of the homes sold were mid-level homes between $650,000 to $800,000 price range. The higher priced excutive homes over $800,000 accounted for about one-fifth of the single family homes sold. Those between...
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By James Wong Vancouver Richmond, Chinese Realtor, Vancouver > Richmond
Richmond welcomes Microsoft Canada Development Centre Microsoft's software development centre is located at Crestwood Corporate Centre in Richmond BC. The Microsoft Canada Development Centre will focus on software development and will eventually employ 700 highly-skilled and well-paid workers from around the world. The centre consisting of two buildings totalling 80,000 square feet in the Crestwood Corporate Centre. Crestwood Business Park The Crestwood Business Park is acknowledged as one of the leading business parks in the Greater Vancouver area. Richmond is already home to some of Canada's leading international technology firms including MDA, Sierra Wireless, Sage Software, Ventyx and McKeeson Medical Imaging. The addition of Microsoft will ensure Richmond continues to develop as a ...
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By James Wong Vancouver Richmond, Chinese Realtor, Vancouver > Richmond
The Skytrain Effect & Richmond Real Estates The Canada Line - the Skytrain under construction now connecting downtown Vancouver to Vancouver International Airport and Richmond, not only changed Richmond's skyline, it also spur the demand for new condos. This $1 billion plus Skytrain rapid transit line is scheduled to become operational towards the end of next year.Will property values near key Canada Line stations spike up in values as experienced by home owners along the Expo and Millennium Lines?According to a report by Landcor Data, from 1986 to 2007 the value of land within 500 meters of Skytrain stations increased 628% compared to 352% for other land in host municipalities. If the Canada Line is having the same effect on real estate values, Richmond home owners will benefit from th...
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By James Wong Vancouver Richmond, Chinese Realtor, Vancouver > Richmond
Why you should make moving to Richmond BC your top choice? Richmond has all the attributes of a great, safe and vibrant community for any new comers to reside in and build a future for their families. The schools, amenities, ease of transportation, employment opportunities, etc all contribute to making Richmond a great place to live. Richmond's ability to attract Microsoft to open a 700-employee software development center goes to prove that the city has the world-class commercial resources and infra structures to attract high-tech multi-national corporations. Richmond BC Relocation Richmond BC is a favourite city for individuals and families who are relocating from another Canadian province, USA or from other parts of the world. Richmond is well known for its quality parks, leisure fac...
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