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Vancouver, BC Real Estate News

By maggie chandler
(chandler realty)
False Creek North real estate analysis for January saw listings up from 133 to 153 for the second consecutive month.   Sales also increased  fro 17 to 28.  Days on the market up from 34 to 43. The average selling price was up to $688,000 and $psf flat at $694. The supply of condos dropped to 5.6 months. The condo listings over $2M nearly doubled. An early spring for False Creek North. Listings -  153  four listed under $400,000 and 10 listings between $400,000 & $500,000. 27 listed between $500,000 and $700,000. 48 listed between $700,000 and $1 million.  38 listed between  $1 & $2 million and 26 listed over $2 million (up from 15 last month). 14 condos did not sell (same last month and 7 in Dec) and 6 were re-listed at the same or higher prices, indicating sellers are pushing the marke...
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By maggie chandler
(chandler realty)
Federal Finance Minister Jim Flaherty announced changes to mortgage insurance rules this morning, which are set to come into force on April 19th, 2010. This means the government will adjust the rules for government-backed insured mortgages as follows: Require that all borrowers meet the standards for a five-year fixed-rate mortgage even if they choose a mortgage with a lower interest rate and shorter term. This initiative will help Canadians prepare for higher interest rates in the future. Lower the maximum amount Canadians can withdraw in refinancing their mortgages to 90% from 95% of the value of their homes. This will help ensure home ownership is a more effective way to save. Require a minimum down payment of 20% for government-backed mortgage insurance on non-owner-occupied propert...
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By maggie chandler
(chandler realty)
West End real estate analysis saw January listings and sales up, compared to  December, leaving the supply stable at less than 3 months.  Listings and sales similar to Jan'09. The days on the market for condos that sold dropped from 41 to 28.   The average selling price steady at $544,000.  The sales under $500,000 up from 51% to 61% and the sales over $1M increased. The list price to sale price ratio is 98% .  Listings - 162.  17 listed under $300,000 (including 1 under $200,000). 32 listed between $300,000 and $400,000. 30 listed between $400,000 and $500,000(up from 14 last month) ,39 listed between $500,000 and $1M.  28 listed between $1M & $2M. 13 listed over $2M (doubled from last month) view the graph and rest of this post
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Hello Vancouver, as of April 19th 2010 we are getting tougher rules imposed yet again in a bid to prevent the US style housing melt down that besieged the US for the past few years. I guess it's good but we are already very conservative in Canada and have not experienced what happened in the US. I will try to summarize below.  Canada's Finance Minister tightened rules for Canada's mortgage industry to ensure homebuyers can afford their homes when interest rates rise. Under the changes for CMHC insured (Government insured mortgages), which will take effect April 19, home buyers will ALL have to meet the standards for the five-year, fixed-rate mortgages even if they opt for variable rates. And limits for refinancing will also be stricter as will the rules for people buying an investment p...
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I have to say I was riveted.  Singing Leonard Cohen's version of "Hallelujah" the focus was on (?) The voice was amazing - the song emotional...positively mesmerizing...but who was it?  I thought 'Wayne Newton'? Is he Canadian?...I know there was a tremendous amount of focus on the 'aboriginal culture'........but Wayne Newton?  Hmmm, thinking.........he looks awfully good for his age.  But Wayne Newton?  Then at the end of the song they thanked 'k.d. lange'.........and I just about fell off my chair.  What did you think?  I must be totally out of touch...duh      The video of the Olympic performance is copywritten - but here is another video with her singing it...                                                  If you or someone you know is thinking of Buying or Selling property in Cul...
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By Scott Leaf Personal Real Estate Corporation, Scott Leaf & Associates Real Estate Team
(Keller Williams Elite Realty, Port Coquitlam, BC)
CLICK HERE if You Want to Look at homes in the Vancouver & Fraser Valey area! Opening Ceremonies 6PM Pacific - 9PM Eastern Almost 10 years of planning, bid winning, organizing & venue building will all be put to the test in the largest sporting event ever attempted in Canada as Vancouver/Whistler host the 2010 Winter Olympics. The venues look spectacular!  The speed skating oval in Richmond is beautiful, a triumph of engineering and a legacy that will give back to the community for decades to come.  Whistler has snow, snow, snow!  The downhill events will be a go at the world's #1 Ski Resort on terrain that has to be seen to believed.  Canada holds it's breath for Hockey, Men's and Women's!  The stakes are so high tickets to the mens gold medal final have reportedly sold for $30,000 a t...
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By Alec Kinnear
(Canadian Real Estate Insights)
In today's article we are going to concentrate on the best way to pack before the actual move. Packing all the things before moving is something many people are scared of. If you hope to pack successfully and peacefully, enough time, boxes and different wrapping material will be necessary, as well as a convenient system in place. Jay Banks, Vancouver real estate agent and Moving Guide publisher explains: "If you think planning is a waste of time, think again - without a sufficient plan, the whole moving is quite likely to become more difficult than it is bound to. Even if you think you can manage all in one day as you are moving only from a one bedroom place, try to get some more time - in most cases it is necessary." It would be great if you could finish all the packing one day before ...
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By maggie chandler
(chandler realty)
History:  Named after a chief of the Squamish Nation Khahtsahlanough. Kitsilano has the distinction of being the second most recognized neighbourhood in Canada.  One of the area's first non-native settlers, Sam Greer, lived on Kits Beach, currently voted the world's third sexiest beach!  In 1882 Sam, an Irishman, who had been an unsuccessful gold prospector in the Cariboo, claimed he bought 160 acres, bounded by lst Avenue, Trafalgar and the beach.  He moved his wife and daughter into a small cabin at the present site of the Kits Beach bathhouse.  His land claim was never recognized by the CPR.  They began proceedings to prove his claim was worthless and that the railway had legal title. The CPR was given authority to evict Sam and sent in the sheriff.  Sam grazed the sheriff with bucks...
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By maggie chandler
(chandler realty)
Let the Games Begin! 4 days and counting! Follow the Torch and the fun which begins february 12, 2010. Buy tickets for 2010 Winter Olympic Events. The Olympic Village is Vancouver's last waterfront community.  Vancouver real estate statistics for False Creek South (Olympic Village) saw January sales down and listings up. Average sold price $396,000 and list price to sales price ratio an amazing 100% indicating sales selling at or above list price.   In her report to council in October, city manager Penny Ballem confirmed that 420 units of the 1,100 total units on the site (including affordable housing) have been "inspected, approved and locked down by VANOC".  MilleniumWater will be pre-selling the remainder in May . The waterfront units will be over $1M. Hire me as your Buyer Agent!We ...
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By maggie chandler
(chandler realty)
Above are the January Vancouver (west side) real estate graphs  for houses, townhouses and condos. Sales down and listings up, in all categories. Condo listings increased by 50% from 1000 to 1500 vs. nearly 2000 a year ago and are equal to May and Oct'09.  815 new listings in January, vs 349 in Dec, 621 in Nov, 833 in Oct and 798 in Sept. Sales decreased to 298 vs 397 in Dec, 483 in Nov, 529 in Oct and 477 in Sept.  For the year, the busiest price range is $300,000 to $350,000 . Year to Date over $1 Million were 20 sales. Total of 298 sales for the year 177 in 2009. Townhouse listings are just under 200 vs 375 a year ago. The new listings for the month 112 , vs 34 in Dec, 77 in Nov, 94 in Oct and 136 in Sept.  Sales were  for the month,30 vs 62 in Dec, 64 in Nov,  78 in Oct and 81 in Se...
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By Riel Roussopoulos, Real Estate Marketing Expert
(RealtyXL Marketing Inc.)
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By Susan Keevil
(RE/MAX Select Properties)
susankeevil.com is proud to present our Westside Vancouver Detached Market Update for the period February 2 - February 9. Westside detached supply lagged slightly this past week after posting two consecutive weeks of positive growth; we saw 79 new detached listings on the Westside (down a bit from the 84 new listings in the previous period). Dunbar again posted the strongest supply numbers with 12 new detached listings this week with Point Grey jumping in with 12 new detached listings as well. The supply-side continued to loosen in high-demand areas like Dunbar and Point Grey well neighbourhoods like Kitsilano and Mackenzie Heights remained quite stable. The higher supply numbers have resulted in less multiple offer situations as buyers have a greater degree of leverage. Please click HE...
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By Susan Keevil
(RE/MAX Select Properties)
susankeevil.com is proud to present our Westside Vancouver Attached Market Update for February 2 - February 9. The Westside neighbourhoods posted strong sales and listing numbers for the fourth consecutive week as we move towards the Olympics with firm market share on both the sales and supply side. Vancouver West saw 253 new attached listings (up from 213 in the previous week) as a whole with the Westside neighbourhoods contributing 108 new attached listings or roughly 43% of all new supply. The University, Kitsilano, and Fairview areas demonstrated strong supply numbers with 15, 27, and 18 new attached listings respectively. Please click HERE for the full article.
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susankeevil.com is proud to present our Downtown Vancouver Attached Market Update for the period February 2 - February 9. Sales volume took a step backwards this past week after posting three consecutive weeks of gains as we witnessed 129 confirmed sales transactions across Vancouver West (down from 139 in the previous period) with the downtown neighbourhoods accounting for 75 attached sales or roughly 58% of all transaction volume for the week. The downtown core neighbourhoods saw a notable fall with 35 confirmed sales (down from 53 the previous week), well Coal Harbour and False Creek North both posted gains. The downtown neighbourhoods saw a fall in their sales share across Vanouver West with 58% of all confirmed transactions (down from 64% the previous week). Please click HERE for t...
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By Richard Weisser, Richard Weisser Retired Real Estate Professional
(Richard Weisser Realty)
Well, it looks like Mr. Murphy has struck again. While the Mid-Atlantic states are being bombarded with snow at record depths, the venues for the 2010 Olympic Games are experiencing unseasonably mild weather. As a matter of fact, it’s so warm in Vancouver, British Columbia, that it is not even possible to make snow. Snow is being brought in by the truckload and is turning into a slushy mess. Some events may have to be postponed or moved. It is a cause of great concern for event organizers and participants. It’s just another one of those ironic twists of that reminds us to depend on nothing, and to be prepared to make alternate plans when things go awry.  Because until we are able to control the weather, we just have to learn to deal with it!
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By maggie chandler
(chandler realty)
Coal Harbour real estate analysis in January saw sales down slightly and listings up by 35%, compared to December, and no sales over $2M for the secon consecutive month. (vs 5 in November).  80% of the sales were under $1M. The inventory doubled to 8 months. December was a low for number of listings, so we expect them to rise.   Days on market dropped from 61 to 43.    List price to sale price ratio increased to 98%, showing little flexibility on the part of sellers.  We expect to see the inventory increase as listings come on at Fairmont Estates which has prices from $1800psf.   Fairmont and Three Harbour Green are the last remaining new waterfront buildings. Listings -136.  34 listed under  $500,000.  48 listed between $500,000 and $1M. 26 listed between $1M and $2M and 28 listed over...
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By maggie chandler
(chandler realty)
Address: One Harbour Green, 1169 West Cordova, Vancouver, BC V6C 3T1, BC, Canada Built - 2006 Architect - James Cheng Architects Inc. Developer - ASPAC Features - floor to ceiling windows with UV protected solar blinds, pure wool carpeting and gas fireplace. Concrete construction with fibre optic communications and quiet central heating/air conditioning and ventilation system read the rest of this post
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By maggie chandler
(chandler realty)
Diverse selection and favourable interest rates continue to drive demand in the Greater Vancouver housing market.   The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 1,923 in January 2010, an increase of 152.4 per cent compared to January 2009 when 762 sales were recorded and a 23.5 per cent decline compared to the 2,515 sales recorded in December 2009.In terms of historical perspective, January ranked as an average month for number of residential housing sales over the past decade, with higher sales in January 2002, 2003, 2004, and 2006.Over the last 12 months, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 17.2 per cent to $573,241 from $489,007 ...
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By maggie chandler
(chandler realty)
GUEST POST  -  Ryan Rosenberg is am immigration lawyer and partner with Larlee Rosenberg, Barristers & Solicitors, in Vancouver. Contact Ryan at 604-681-9887, Ryan.Rosenberg@larlee.com or visit his firm website    CANADIAN CITIZENSHIPWealthy global families are increasingly aware of the need for a well thought-out citizenship andtax residency strategy to protect their wealth and safeguard their freedom of movement,investment and multi-generational asset preservation. In today's uncertain world, prudentfamilies understand the importance of keeping their options open and having more than onepassport choice. Canada provides a safe and surprisingly tax-efficient alternative to many of the more well-known "offshore" citizenships. A summary of the advantages: TAX• Immigration Trust provides a...
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By maggie chandler
(chandler realty)
CTV new recently ran this video on staging your home and reports that you will get a higher price and a faster sale. Staging encompasses many different forms. What's the first thing you notice when you walk into somewhere new? The colour of the walls? The furnishings? How the furniture is arrange? How does it flow? Buyers will decide in the first few seconds if they feel comfortable in this home. Stagers will help your home show better but decluttering it, re-arranging the furniture or suggesting new furniture, perhaps a change of wall colour. The end result will be that your home shows better in pictures and a virtual tour and is more appealing to buyers, thereby achieving a higher price and a quicker sale for you. read the rest of this post
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