Richmond, BC Real Estate News

By James Wong Vancouver Richmond, Chinese Realtor, Vancouver > Richmond
Canadians are cautiously optimistic that the real estate market in Canada may be insulated from the decline in house prices in the US. The table below summarized Richmond's 2006 and 2007 home sales as reported   by the Real Estate Board of Greater Vancouver:  Housing Type 2007 Sales Average 2006 Sales Average Detached 1798 150 1596 133 Townhouse 1495 125 1396 116 Condominiums 2056 171 2027 167 Total 5351 446 5019 416 Housing analysts expect the 2008 Greater Vancouver housing market to remain positive, projecting price further gain of 5% to 8% for the year. Others are cautious that the US downturn will eventually spread to Canada. Absorption Rate. The health of the Greater Vancouver housing market and the sale and pricing trend for Richmond can be best monitored by tracking the "absorpti...
Comments 2
By James Wong Vancouver Richmond, Chinese Realtor, Vancouver > Richmond
#86 6880 Lucas Rd, Richmond Just Sold! View here for similar Richmond townhouses available for sale. General description: This townhouse complex is around 30 years old. There are in total 101 units consisted of 2-level 3 bedroom homes ranging in built-up area between 1,400 to 1,605 square feet living area. The townhouse units have different floor plans; most units are with 1 full bath and 2 half-bath, while some larger 3 bedroom units may have 2 full baths and 1 half-bath. The parking arrangement is one covered front car porch and there are extra open parkings available in the complex. The property tax for 2007 is from around $1,667 to $1,809 and the monthly maintenance is from $216 to $244 a month. This townhouse complex is located in the very desirable Woodwards area of Richmond. The...
Comments 0
By James Wong Vancouver Richmond, Chinese Realtor, Vancouver > Richmond
Richmond's Million Dollar Homes The reason why large-size lots are popular is because new homes built on these lots are in demand and they are selling for $1.35 to $2.00 million dollars. There are profit to be made by new home  builders who are building spec homes for sale. You can view the million dollar Richmond homes here. The profit margin for purchase-and-build is normally at 20% to 25%. But, for builders who are building on properties they bought 1 to 3 years ago, they can make a lot more money building and selling these new homes. The property appreciation already assured the home builders getting as much as $250,000 (a large-lot property sold 3 years ago at just over $400,000 is now priced at around $650,000 to $700,000). These houses are built to the maximum allowable size by t...
Comments 0
By James Wong Vancouver Richmond, Chinese Realtor, Vancouver > Richmond
Richmond Rapid Transit System : Positive impact on Richmond real estate value Richmond Rapid Transit system is a major infra-structure public work connecting Richmond to downtown Vancouver and other parts of metro Vancouver serviced by the BC's Light Rapid Transit (ALR) system which is popularly called The Skytrain System. City planners and economists are in agreement in attributing the economic benefits of efficient public transport system in stimulating economic growth. The sector that benefits the most is the local real estate owners, developers and Richmond City Council. With the current housing boom, home buyers are snatching up Richmond new condos in anticipation of strong run up in housing prices when the city is linked to Vancouver City center by the rapid transit system. The r...
Comments 0
By James Wong Vancouver Richmond, Chinese Realtor, Vancouver > Richmond
   Richmond real estate: Richmond Home with acreage In a fast growing city like Richmond, acreage properties next to new housing developments are rarely available. The most valuable acreage properties are those serviced with municipal water, electricity, cable and telephone lines. If a house is not already built on an acreage property, or it's too old, a new house can be constructed on the property. The attraction of an acreage property is in the extremely low property tax on the property if its primary “agricultural use” status is maintained. Almost all dwellings on acreage properties are built in the front of the properties with easy municipality road access. In addition to the front portion of the land being used to build a home, the large land parcel at the back portion of the land...
Comments 0
By James Wong Vancouver Richmond, Chinese Realtor, Vancouver > Richmond
Steveston Vinnage: Mariners Village - 11291, 11391, 11491 7TH Ave. General description: This Steveston Village townhouse complex is around 30 years old and the units are consisted of 2-level 2 and 3 bedroom homes ranging in built-up area between 1,100 to 1,550 square feet of living area. This townhouse complex is popularly know as Mariners Village, and has different styles and floor plans. The smaller units are with 1.5 bath, while the larger 3 bedroom units have 2 full baths and 1 half-bath. The parking arrangements for some units are open and other units are with one covered car porch. There are extra open parkings for owners with more than one cars. The property tax for 2007 is from around $1,600 to $2,200 and the monthly maintenance is from $218 to $251. Location: This townhouse com...
Comments 0
By James Wong Vancouver Richmond, Chinese Realtor, Vancouver > Richmond
Why you should use a local Richmond BC Realtor when buying your home in Richmond? If you know what you want to buy, we can help you to identify the property, negotiate the price and assist you in closing the deal. We strive to make your buying experience more pleasant and less stressful. There are compelling reasons why home buyers should have their Buying Agents to represent them. The loyalty and best interest of a home buyer can only be provided by his Buyer Agent. With my 18 years of real estate experience, I can guide you through the whole process of buying your ideal home: 1) Loan Pre-Approval As a dual-licensed agent, I may determine how much mortgage you may be approved and apply to the bank for a mortgage pre-approval. When you are pre-approved your mortgage interest rate will ...
Comments 0
By James Wong Vancouver Richmond, Chinese Realtor, Vancouver > Richmond
General description: This townhouse complex is around 30 years old and the units are consisted of 2-level 3 bedroom homes ranging in built-up area between 1,400 to 1,605 square feet living area. The townhouse units have different floor plans; most units are with 1 full bath and 2 half-bath, while some larger 3 bedroom units may have 2 full baths and 1 half-bath. The parking arrangement is one covered front car porch and there are extra open parkings available in the complex. The property tax for 2007 is from around $1,667 to $1,809 and the monthly maintenance is from $216 to $244 a month. This townhouse complex is located in the very desirable Woodwards area of Richmond. The amenities include a recreation centre, outdoor pool, sauna and steam room. Location: Access to these 2 townhouse...
Comments 0
By James Wong Vancouver Richmond, Chinese Realtor, Vancouver > Richmond
Buyer beware When buying a Condo or town home, home buyers are advised to carefully review the strata minutes, property disclosure statement and Form B. In spite of home buyers' careful review of all relevant documents and inspection by professional home inspectors, many still ended up buying condos that are leakers. There are many instances of condos that are suspects, but water-damaged problems in the buildings not being confirmed by engineering report. Meanwhile, patch-work repairs may have temporarily minimized the water ingress problems. Without a comprehensive investigation by a building envelope engineer, no one can be sure whether a building is "leaking". One way to avoid the uncertainty is for home buyer to buy a newer condo unit. The newer condo buildings have been competentl...
Comments 0
By James Wong Vancouver Richmond, Chinese Realtor, Vancouver > Richmond
General description: This townhouse complex is around 20 years old. This is a 3-level townhouse complex ranging in size from just over 1,600 to 1,715 square feet of living area with 3 bedrooms and 2.5 baths. The parking arrangement is one or 2 covered garage(s). The property tax for 2007 is around $1,800 and the monthly maintenance is around $165. The strata management and general up-keep by the owners of 8431 and 8531 above average. Location: The townhouse complex is located in Richmond’s “Riverdale” area. Access to the townhouse complex from the city is via Granville Road and No. 2 Road. Both elementary and secondary schools are within a short walk from the townhouses. The very popular Thompson Community Center is just a short walk from the townhouse complex. Proximity to the Richmon...
Comments 0
By James Wong Vancouver Richmond, Chinese Realtor, Vancouver > Richmond
General description: This townhouse complex is around 20 years old. This is a 2-level townhouse complex with average built-up area around 1,450 to 1,500 square feet of living area with 3 bedrooms and 2.5 baths. The parking arrangement is one covered car-porch and one open parking spot. The property tax for 2007 is around $1,860 and the monthly maintenance is around $120 (self-managed). Location: The townhouse complex is located in Richmond’s “Brighouse South” area. Access to the townhouse complex from the city is via Granville Road and No. 3 Road. Both elementary and secondary schools are within a short walk from the townhouses. The very popular Minoru Park, Richmond main library, swimming pool, ice-skating ring and Richmond Center Mall are all withing a short walk from the townhouse co...
Comments 0
By James Wong Vancouver Richmond, Chinese Realtor, Vancouver > Richmond
General description: This townhouse complex is around 34 years old. These townhouses are seldom available for sale. Each unit is consisted of around 1,550 square feet of living area with 3 bedrooms and 2.5 baths. The parking arrangement is 2 covered car porches. The property tax for 2007 is around $1,800 and the monthly maintenance is around $220. The strata management and general up-keep of this townhome complex are above average. This is a children friendly environment whereby your young children will have many young friends to pay with in this complex. Location: The townhouse complex is located in Richmond’s “Westwind” area. Access to the townhouse complex from the city is via Steveston Highway and No. 2 Road. An elementary school is within a short walk from the townhouses. Price hi...
Comments 0
By James Wong Vancouver Richmond, Chinese Realtor, Vancouver > Richmond
Condo living is the most likely choice for most young first time home buyers. The main reason if because of affordability and for some people it is a lifestyle choice. Most people are realistic that buying a condo is a stepping stone for them to own their first homes. They know that a condo will be good enough for them to live and have a small young family for the first few years. They are hoping that by the time they need to move to a larger home, they will have enough equity to do so.Condo LocationThis is one of the most important considerations when buying a condo. In areas like Vancouver, Burnaby, Richmond, New Westminster and Surrey, many home buyers and investors prefer buying condos within a short walk from the Rapid Transit or Sky Train system. Condos around the Sky Train statio...
Comments 0
By James Wong Vancouver Richmond, Chinese Realtor, Vancouver > Richmond
It's very common that a home owner is selling his present home and buying another home in the process. Buying or selling first becomes a tricky problem to solve. The most practical way to solve the problem is to sell and buy at the same time. "Pricing your house fairly" is important if you are expecting to sell your home within 30 - 60 days of listing. There are some basic house keeping and home preparation works that are needed to be done to present your home for sale. Click here to follow the link on preparing your home for sale. Pricing your home The real estate market is relatively transparent when comes to pricing. Under prevailing market conditions a property is considered fairly priced when comparable most recent sales data are used to determine the listing price. Setting the li...
Comments 0
By James Wong Vancouver Richmond, Chinese Realtor, Vancouver > Richmond
There are 2 time periods of the year that are good for listing and selling your homes. Historically, early spring and mid-summer are the most active period and best time for sellers listing their properties for sale. These time periods co-incide with better weather conditions and homebuyers planning to make a move before the new school term starts in September.Conversely, Autumn being perceived as slower months with less buying and selling activities may prove to be the best time for homebuyers to buy their homes. At this time with relatively less activities, sellers are more likely to reduce their listing prices or more willing to negotiate on their prices. Autumn is also the time period when there are more listings and a wider selection of properties to choose from. So, if you are pla...
Comments 0
By James Wong Vancouver Richmond, Chinese Realtor, Vancouver > Richmond
What to look for when choosing a Richmond Realtor? Working with a Richmond Realtor buying or selling your home is a partnership. You need to ensure that your Realtor has the local real estate knowledge and experience to help you with your real estate needs. Find a Realtor you feel comfortable working with, and who is able to promptly communicate with you on all matters relating to your home buying or selling needs. Get referral from your friends or relatives You may want to check with your friends or relatives who had previous dealing with their Realtors. You may also check online to find out the Realtors who are active in your local market. Most home buyers and sellers are actively using the internet to research for market information, you can find out who are marketing themselves acti...
Comments 0
By Sheila Atienza, Book Author/Content Creator
(Privilege Digital Media)
Richmond, BC. There are currently one 2br-apartment unit and three townhouse units posted in the Multiple Listing Service (MLS) in the area of Colonial Drive Richmond, as of today (October 29, 2007). The 2-br apartment unit is priced at less than $200K while the townhouse units range from $238K to almost $300K. If you are commuting, you can take the transit bus no. 410 to get to and from here. To specifically have an overview of the area, please click on this map: Colonial Drive Richmond Ideally, this neighbourhood suits a starter family and first-time buyer. Primary and secondary schools are close by, as well as shops located in No. 1 Road corner Francis. Below is a link to: Hugh Boyd Secondary School
Comments 0
By Sheila Atienza, Book Author/Content Creator
(Privilege Digital Media)
If you are currently renting and thinking of finally converting your rental payments into mortgage payments, there' simply a basic process you will have to go through.As a Home Ownership Consultant, I usually recommend that clients get a mortgage pre-approval. In this way, you know the price range of the property you would eventually purchase. When the pre-approval has been put in placed, shopping for your home choice comes next. Usually, it is best that you are represented by a buyer's agent. So when you put up an offer, the agent can work on your behalf taking into consideration your situation, condition and interest.If everything goes well in the transaction and your offer gets accepted, you will have to finally submit the documents the lender and mortgage broker have asked from you ...
Comments 0
By James Wong Vancouver Richmond, Chinese Realtor, Vancouver > Richmond
Terra Nova Townhouses - 5988 Blanshard Drive General description: This Richmond Terra Nova townhouse complex is around 6 years old and the units are consisted of 2 level homes ranging in built-up area between 1,360 to 1,390 square feet. The townhouse units in this complex are mainly consisted of 3 bedroom with 2.5 baths. The parking arrangement is one covered attached garage and one open parking in front of each townhouse. The property tax for 2007 is from around $2,200 and the monthly maintenance is around $175. Access to this Terra Nova townhouse complex from the city is via Westminster Highway and No.1 Road. Both elementary and secondary schools are within a short walk from the townhouses. A very popular outdoor destination for residents of Terra Nova is The West Dyke Trail which co...
Comments 0
By James Wong Vancouver Richmond, Chinese Realtor, Vancouver > Richmond
General description: This townhouse complex is around 10 years old and the units are consisted of 2 and 3 level homes ranging in built-up area between 1,250 to 1,500 square feet of living area. The townhouse complex has a good range of 2, 3 and 4 bedroom units with 2 full baths. The parking arrangement is one or two covered attached garage(s). The property tax for 2007 is from around $1,800 to $2,100 and the monthly maintenance is from $180 to $205 a month. Access to the townhouse complex from the city is via Westminster Highway and No.1 Road. Both elementary and secondary schools are within a short walk from the townhouses. A very popular outdoor destination for residents of Terra Nova is The West Dyke Trail which connects Terra Nova with Garry Point Park. Richmond residents are takin...
Comments 0