June 28, 2017
Share this video! Fabulous song to celebrate Canada’s 150th birthday. The photography is just brilliant. Lets hope our country stays strong.
Here’s upbeat video for our 150th Canada anniversary. You might enjoy it..
Vancouver Real Estate Agent Maggie Chandler Vancouver Reflections
June 28, 2017
Share this video! Fabulous song to celebrate Canada’s 150th birthday. The photography is just brilliant. Lets hope our country stays strong.
Here’s upbeat video for our 150th Canada anniversary. You might enjoy it..
The June issue of Mortgage Rate Forecast is now available on BCREA Online.
June 26, 2017
Vancouver, BC – June 19, 2017. The British Columbia Real Estate Association (BCREA) released its 2017 Second Quarter Housing Forecast today.
Multiple Listing Service® (MLS®) residential sales in the province are forecast to decline 10 per cent to 101,000 units this year, after reaching a record 112,209 units in 2016. Housing demand gained strength this spring, as some of the effects of federal and provincial policy efforts to tamp it down dissipate. In addition, strong market fundamentals continue to underpin an elevated level of home sales. The ten-year average for MLS residential sales in the province is 84,700 units.
“The province is in its fourth year of above-trend economic growth,” said Cameron Muir, BCREA Chief Economist. “Strong employment growth, consumer confidence and an influx of inter-provincial migrants are important drivers of the housing market this year.” In addition, with the millennial generation now entering their household forming years, the condominium market in major urban centres is experiencing pressure on supply.
The average MLS® residential price in the province is forecast to decline 1.1 per cent to $683,500 this year, and increase 5.2 per cent to $719,100 in 2018. The decline in the provincial average price is largely due to rising demand for more affordable condominiums and a larger proportion of home sales occurring outside the Metro Vancouver region. The supply of homes for sale is at a 20-year low in the province, with sellers’ market conditions prevelant across most BC regions and home types.
Click on the below link to find out what the City has proposed for pre-1940 character homes.
In the fall of 2016 we asked members of the public for feedback on possible options for encouraging retention. Incorporating what we heard, we are now seeking public feedback on the proposed zoning incentives and draft design guidelines. Your feedback will help inform recommendations to City Council later in the year to encourage retention of pre-1940 character homes in single-family neighbourhoods. The proposed zoning incentives are optional for owners of character homes and no changes are being proposed to zoning for new house construction. In addition, the proposed zoning incentives would apply to single-family neighbourhoods across the entire City, not only those with especially high concentrations of pre-1940 homes. Please review the information boards from the May 2017 open houses, then share your thoughts.
Heritage Action Plan Team
City of Vancouver 453 W 12th Avenue Vancouver, BC V5Y 1V4
East Vancouver Real Estate Sales & Prices Hit a Record High in May, as listings level and remain slightly lower than Nov’16.
Average Sale Price – May hita record high at $1.122.000. The last peak was May 2016 at $1.107.000. Houses sit at $1.713.000 which is up 4% over the last year.Townhomes at $950,000, up 22% over the last year and condos at $602.000 which is 20% higher than a year ago.
Listings – total inventory is same as April, however, house listings are 1,048 which is slightly less than Oct’16 and the highest its been since Nov 2014.. Townhomes increased from 43 in April to 60 in May and condos sit at 221, down from 232 in May.
Sales – hit a record high and have been on an upward climb since January and are up 4% from a year ago, to 467. However, house sales dropped 9% from a year ago, but townhomes increased 55% and condos increased 17%.
% of Original Sale Price – 101% for houses and townhomes and 103% for condos – so all categories are averaging an above list price percentage
Sales/Active Ratio – 43% which is back to Oct’15 levels. Houses are the lowest with only 26% of listings selling. Townhomes sit at 70% and condos at a whopping 97%, indicating a strong sellers market for townhomes and condos.
Average Days on Market – 29 for houses, 19 for townhomes and 18 for condos. Only houses and townhomes are taking longer to sell than they were a year ago, condos are selling faster.
Planning on making a move? Put my decades of knowledge to work for you! Call Maggie 604-328-0077
Vancouver’s West Side House Prices Trend Upwards Again in May increasing from $3.690.000 in April to $3.876.000. Townhomes moved from $1.348.000 to $1.4M and condos declined from $978,000 to $959,000. Houses are 2% lower than a year ago, townhomes are 10% higher and condos are 8% higher. Has the implementation of the Foreign Buyers Tax in Toronto sent some buyers back to Vancouver?
Sales clocked in at 783, down 6% from a year ago but increased from 607 in April. House sales were down 1% from a year ago, townhomes down 10% and condos down 8%. All categories increased from April but are lower than a year ago.
Sales/Active Ratio sits at 55% which is 3% higher than a year ago and up from 42% in April. Condos performed the best with a sales/active ratio of 79%, townhomes 61% and houses only at 29%.
Listings – only 1,414 properties for sale in Vancouver’s West Side, which is 9.5% less than a year ago! In January there were 1448 properties for sale – very unusual not to see a spike in listings in Spring. Listings peaked in May 2012 at 3,974 and have been on the decline since then.
Percentage of Original Price – on average houses are selling at 97% of List Price. Townhomes and condos are selling at 102%. All categories are lower than a year ago.
Average Days of Market – 42 for houses, 22 for townhomes and 20 for condos
Planning to make a move? Put Maggies decades of hyper-local experience to work for you! Call 604-328-0077
Courtesy of BCREA – May 24, 2017
The Bank of Canada announced this morning that it is holding the target for its overnight rate at 0.5 per cent. In the press release accompanying the decision, the Bank noted that inflation is broadly in line with the Bank’s projection, though intense retail competition is pushing inflation temporarily lower. The Bank also noted that the tightening of mortgage regulations implemented in the Fall of 2016 have yet to have a substantial cooling effect on markets but it does expect those measures will contribute to a more sustainable debt profile for Canadian households.
Although the Canadian economy has expanded well above the Bank’s estimate of potential growth for three consecutive quarters, including a first quarter that is tracking at close to 4.5 per cent growth in real GDP, the Bank is not optimistic that the economy will sustain that level of growth for much longer. Moreover, despite faster growth, a significant amount of slack remains in the economy and there is therefore very little pressure on inflation. Without a signal that inflation is going to push higher, the Bank will remain sidelined at least until early 2018 when it expects remaining slack in the economy will be eliminated.
Vancouver is often referred to as the “City of Glass”. When arriving downtown, heading north over the Burrard Street Bridge, it’s an easy connection to make. A wall of glass buildings immediately greets you as you enter the city center. These buildings are head to toe glass for a reason; capturing every angle of the waterfront view. Vancouver is all about the water and mountain views so it makes sense if you’re choosing to have one of these homes in the sky, that you want to avoid things like window frames and small outdoor spaces. The view only get better as you get higher, so why not go straight to the top! The stunning sights the city center has to offer from every direction make it easy to see why those searching for luxury living in Vancouver gravitate to the modern Penthouse.
As clear as it is that this city is the perfect candidate for buildings topped by penthouses, they have been an architectural feature since the 1920s in New York City when the desire and demand to live in urban spaces increased. Penthouses didn’t start to gain notoriety in Vancouver until the 1990s, when the city experienced wealthy immigration from Hong Kong and Taiwan. The developers began catering to this clientele, building larger condos and featuring Penthouses as the best of the best in the city. Many of these immigrants came from urban areas in their respective cities and wanted to continue to reside in the city, however, they desired a certain level of luxury that included the multi level Penthouse condo as a staple aspect of their new life on the west coast.
Besides the view, what makes Penthouses so desirable? Why not go for a mansion in Shaunessy or an acre and a stunning view of the water off South West Marine drive? Those looking to call a Penthouse home are looking for the proximity features of city living, but with a little more amenity. You are able to live close to all of your favorite spots to grab a quick takeout, pop into the grocery store, access to the seawall and local urban parks and beaches, while at the same time, you’re on the top floor so you’re elevated from the noise pollution that commonly comes with living in the heart of the city. There’s access to an abundance of amenities in your building so you can easily cut down on travel time to the gym etcetera with a quick elevator ride. Penthouses are not only novel because of being situated on the top floor, they also tend to be a significant in size, and often take over at least one entire floor on top of a building. This being the case, there is plenty of opportunity to create a sprawling outdoor patio space. A key feature of a penthouse unit is that there is a portion of the unit that is set back from the rest of the building. This not only creates more privacy from your neighbors, but it also allows more square footage for that comfy outdoor living space where you can sit back and take in the stunning mountain and water views this city is known for.
The features a penthouse has to offer that are specific to the unit are not only being in a building with a gym and a view, the unit will often have its own private elevator, and they often include two or more levels. As well as, extensive building services including a concierge at your beck and call to run any errand your heart desires at day or night; from picking up that takeout or dropping off your dry cleaning, they’re a very nice addition to the Penthouse lifestyle. There is prestige that comes with owning a Penthouse and it’s not all to do with the location in the building.
How have Penthouses in Vancouver changed over the years? Back in the old days, prior to the 1990s boom, there were few Penthouses in the city A true Penthouse is the only suite on the top floor, so there were buildings that qualified for the title however they were often no more than 6 stories and merely qualified because fo their location in the building. The quality of finishing was basic compared to now, there were no spa like bathrooms, no high end European appliances, or 3-5 parking spots available to the unit, floor to ceiling windows are now a must, entertainment size patios with heated outdoor kitchens, private swimming pool and or Jacuzzi with a view of course, as well as, biometric security, integrated lighting, music and air conditioning systems available throughout the home. It has only been in the last 10 years that Vancouver’s Downtown peninsula has been rezoned to accommodate 50-65 story buildings, therefore, the views have been upgraded from just glimpses of the surroundings to remarkable.
Since the penthouse lifestyle took off in the 1990’s in Vancouver there have been a couple of buildings that have managed to exemplify the perks of this type of unit quite well. In 2016 the 4900 square foot penthouse at 1717 Bayshore, now 16 years old, sold for $12.9 million. Two penthouses in the Harbour Green’s building, located in the very desirable Coal Harbor community, sold for $16.6 million for 6000 square feet. Well over $2000 per square foot. Currently there are 12 penthouses in Vancouver’s West Side listed over $3 million. Penthouse living is most definitely a significant investment and is unquestionably designed to appeal to those wanting a very special version of urban living in Vancouver.
The most expensive condo Penthouse to sell in Vancouver is the suit crowning the top floor of the Fairmont Pacific Rim also in Coal Harbor. An overseas condo buyer was looking for a recreation residence in the city and felt the $55 million dollars in cash that he paid was well worth this incredible rooftop home. Another renowned building for luxury and Penthouse living is The Private Residences at the Georgia Hotel. This penthouse unit awaits your finishing touches and flare and is ready to be sold for $18 million for the 6800 square feet, this includes a wraparound patio with a bbq area, mountain, city and waterfront views in one of Vancouver’s top three luxury .
Buying or selling a Vancouver Penthouse? Put my decades of experience to work for you! Call Maggie 604-328-0077
May 15, 2017 courtest of BCREA
The British Columbia Real Estate Association (BCREA) that a total of 9,865 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in April, down 23.9 per cent from the same period last year. Total sales dollar volume was $7.19 billion, down 25.4 per cent from April 2016. The average MLS® residential price in the province was $728,955, a 2 per cent decrease from the same period last year.
“BC home sales are on an upward trend this spring, led by a sharp increase in consumer demand in the Lower Mainland,” said Cameron Muir, BCREA Chief Economist. The seasonally adjusted annual rate (SAAR) of home sales was over 106,000 units in April, significantly above the five-year SAAR for April of 89,000 units.
The supply of homes for sale declined 17 per cent from April 2016. On a seasonally adjusted basis, active residential listings have declined 50 per cent since 2012 and are now at their lowest level in over 20 years. The imbalance between supply and demand is continuing to drive home prices higher in most regions, further eroding affordability.
Year-to-date, BC residential sales dollar volume was down 31.8 per cent to $21.3 billion, when compared with the same period in 2016. Residential unit sales declined 25.0 per cent to 30,757 units, while the average MLS® residential price was down 9.2 per cent to $692,220.
In BC, total housing starts were 44,604 units SAAR, a 1 per cent dip from the previous month and 1 per cent higher compared to April 2016. Single detached starts declined 9 per cent month-over-month but were 16 per cent higher year-over-year. Multiple unit starts increased 2 per cent month-over-month and were down 3 per cent year-over-year.
Looking at census metropolitan areas (CMA) in BC:
“Copyright British Columbia Real Estate Association. Reprinted with permission.” BCREA makes no guarantees as to the accuracy or completeness of this information. May 8, 2017. For more information contact Chief Economist Cameron Muir.
April saw East Vancouver property listings increase, sales down slightly and the average sale price flat
Average sale price for houses is $1.620.000 which is 2% less than a year ago and equal to Apr’16. Townhomes sit at $847,000 which is 3.4% higher than a year ago and equal to July’16. Condos are at $572,000, up a whopping 20% from a year ago and equal to January.
Listings houses sit at 759, up 66% from a year ago, townhomes are at 43, up 72% from a year ago and condos are at 217 which is 3% less than a year ago.
New Listings are up in all categories and are 2% higher than a year ago
Sales clocked in at 346 which is down 14% from a year ago
Days on Market averaged 25, which is 56% higher than a year ago.
Percentage of Original Price all categories are selling at a lower percentage of list price than a year ago. Houses are at 99.6% – down 7%. Townhomes are at 103% – down 4% and condos are at 102.7% – down 1% from a year ago
Sales/Active Ratio all categories are at 33%, which is 40% less than a year ago. Houses sit at 19% and are down 52% from a year ago. Townhomes are at 90% and are down 21% from a year ago and condos sit at 75% and are down 15% from a year ago.
Dollar Volume is currently 13% less than a year ago and is back to March 2015 level.
Planning a move? Put my decades of local knowledge to work for you! Call Maggie 604-328-0077
Average Sale Prices -April saw Vancouver’s West Side house prices dip from $3.922.000 to $3.694.000, which is in line with February 2016 levels and down 11% from a year ago. Townhomes climbed from $1.294.000 to $1.348.000, up 15% from a year ago and condos climbed from $862.000 to $969.000, up 15% from a year ago.
Listings dropped from 1,404 to 1,386 which is 12% less than a year ago and up from 1,166 in December.
New Listings rose slightly but remain 25% less than a year ago
Sales totalled 608, equal to March and 30% less than a year ago. House sales are down 51% from a year ago, townhomes are down 24% and condos are down 21%. Sales peaked in March 2016 at 981. Sales are equal to March 2008, which was a few months prior to the Wall Street Crash.
Overall days on the market was 27, up 12.5% from a year ago. On average houses are taking 51 days to sell which is up 75% from a year ago, townhomes 21 days, which is 16% more than a year ago and condos 21 days, which is 8% less than a year ago.
Sales to active ratio is 17% for houses, 50% for townhomes and 68% for condos.
Houses are selling at 95% of original price which is 10% less than a year ago. Townhomes are selling at 102% of original price which is 3.5% less than a year ago and condos are at 101.5%, which is 2% less than a year ago.
Total dollar volume is down 38% from a year ago and equal to July 2016.
Planning a move? Put my decades of local knowledge to work for you! Call Maggie at 604-328-0077
Vancouver, BC – April 13, 2017. The British Columbia Real Estate Association (BCREA) reports that a total of 9,826 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in March, down 21.8 per cent from the same period last year. Total sales dollar volume was $6.79 billion, down 30 per cent from March 2016. The average MLS® residential price in the province was $690,597, a 10.5 per cent decrease from the same period last year.
“Consumer demand continues to normalize following blockbuster home sales in 2016,” says Brendon Ogmundson, BCREA Economist. “However, the supply of homes available for sale has not recovered and is still declining in many markets around the province.”
Although the average price in BC was down year-over-year due to a shift in the composition of sales away from higher-priced homes in Greater Vancouver, home prices in most markets are being pushed higher due to severe supply constraints. This is particularly true for the Victoria region, which currently has just over one month of inventory for sale, as well as for the apartment and townhouse market in the Lower Mainland.
Year-to-date, BC residential sales dollar volume was down 34.7 per cent to $14.1 billion, when compared with the same period in 2016. Residential unit sales declined 25.5 per cent to 20,893 units, while the average MLS® residential price was down 12.4 per cent to $674,856.
East Vancouver Property Sales & Prices Rise in March but listings remain flat. The average sale price for houses is the same as a year ago, having peaked in July, corrected and started to uptrend in January this year. Now $1.583.000. Townhomes are 11% higher than a year ago, now at $851.000 and condos are up 18% from a year ago, now at $571,000.
East Van real estate sales are down 18% from a year ago. with houses taking the biggest hit at 24%, townhomes at 14% and condos at 9%. Average days on market are 36 for houses, 22 for townhomes and 19 for condos. Sales bottomed in January and have been trending upwards since.
Sales to listing ratio is 22% for houses, 59% for townhomes and 87% for condos.
Percentage of original price – houses are 98%, townhomes 101% and condos 102%.
East Vancouver property listings are 39% higher than a year ago. Houses are up 65%, townhomes 81% and condos 11%. Houses have the largest selection and are trending upwards but condos are trending downwards.
Put Maggie’s decades of local knowledge to work for you! Call today!
Vancouver West Side Real Estate Prices and Sales Up but Listings Flat in March. Condos are outshining houses and townhomes. Condo continue to be popular due to the affordability factor and very low inventory. Whereas, the selection in houses is good.
Here’s the average sale price graph for houses, townhomes and condos for March 2017. Compared to Mar’17 house prices increased from $3.7M to $3.9M. Townhomes dropped from $1.5M to $1.294.000 and condos increased from $855,000 to $862,000.
Solds – houses peaked in April 2016 and bottomed in Jan’17. Townhomes and condos peaked in Mar’16 and bottomed in Jan’17. Only houses didn’t increase over March 2017.
Listings – at the lowest point they’ve been for the last 5 years.
Average days on market – houses 35, townhomes 32 and condos 24.
Percentage of original price – houses 95%, townhomes 101% and condos 100.7%
Sales to active ratio – houses are only 16%, townhomes 51% and condos 69%
Planning to make a move? Put Maggie’s decades of local knowledge to work for you! Call today!
Kitsilano, aka Kits, is one of Vancouver’s most prominent neighborhoods. It’s an area nearly everyone in Greater Vancouver Area is familiar with and often frequent. Kits has lots to offer not only in terms of proximity to the beach, but it has great shopping, local pubs and restaurants, coffee shops galore, parks, access to public transit and the False Creek Ferry, as well as, a varying assortment of types of properties to inhabit.
Like most neighborhoods in the city Kits has changed a great deal over the years. However, its transformation may be one of the most noticeable compared to some of the up and coming Vancouver neighborhoods further east. From its humble beginnings in the 1960s, beachside Kits was Vancouver’s Hippyville. Hippies were attracted by the low rents and variation in small businesses and unique restaurants for the time. West 4th Ave was nicknamed Rainbow Road, which was filled with vegetarian restaurants (The Naam being one of them) and music and record shops. This changed in the 1980s when the Yuppies moved in, or maybe the existing Hippies simply transformed into Yuppies?! This was spurred by the popularity of the area which inevitably created higher rents and therefore attracted a less Hippie-like demographic. This progression from Hippyville to Yuppieville is something that is still evident today. You still see the odd old school Hippie resident; however, they’re certainly outnumbered by the yuppies and their upper scale restaurants and expensive retail shops.
The Shopping in Kits is popular because of the variation. You can find a bit of everything! There’s your standards like Starbucks and David’s Tea for those who like the consistency of the bigger brands, however, for those who like to support a local business and pine for something different, there’s Arbutus Coffee which is tucked away off west 4th in a heritage building or Culprit coffee that offers gluten-free everything and homemade almond milk. The same contrast applies to the retail locations; you can shop a big box stores like Urban Outfitters or find something a bit different like a Coco’s Boutique or Miz Mooz Boutique. You truly can have it all in kits!
The Kits area is not only known for mooching around shops and stopping in at the occasional café, it also has a great deal of recreational activities to spark your cultural interest and get you outside in the sunshine. Kits Beach is one of Vancouver’s busiest beaches, it has a stunning view of the West End and Downtown, along with beach volleyball nets, a playground and a couple of very sweet patios to kit up after your day at the beach. Kits Pool is an outdoor heated salt water pool, which is 150 yards long and has the same stunning views of the mountains and city. Along with the volleyball courts on the beach there are also tennis and basketball courts, which are a great way to stay active and embody the Kitsilano lifestyle. If you’re not so much of an organized sports person you can take it easy and stroll along the seawall, take in the views and end up on a beautiful patio on Granville island in less than half an hour.
Kits is home to some of Vancouver’s best attractions including the Museum of Vancouver, H.R. MacMillan Space Centre, and the Vancouver Maritime Museum, as well as being the venue for the Bard on the Beach, a Shakespeare festival that runs from June to September each year. Kits is also host to a number of community festivals over the course of the summer including; Greek Days on West Broadway, the Khatsalano Street Festival lining West 4th Ave, and the Children’s Festival that takes place in tents along Vanier Park. One of the highlights of the summer in Kitsilano is the fireworks display that’s put on every year in August. People set up early in the day to snag a sweet spot and then hangout on the beach with a picnic the occasion sneaky glass of wine or beer. This is one of the events that truly bring together the city.
Now that you know about all the amazing things you can get up to in the Kitsilano area, you need to find somewhere to live that suits your fancy and your budget! The neighborhood offers an assortment of properties. Old character houses – Carriage Homes which originated in California and originated in the UK – or new houses, townhomes and half duplexes; where you share a 33-foot lot with one neighbor and primarily located west of Macdonald and north of W. 4th. Condos consist of four story wooden frame buildings from the 1970s and 1980s that commonly offer spacious living rooms and bedroom and your standard galley kitchen. Or there’s the option of a newer midrise concrete building that may offer a small outdoor space as well as amenities and underground parking. A popular neighborhood is Arbutus Walk which was developed in the late 1990s and is west of Arbutus, south of W. Broadway and north of W. 12th Avenue this area is known for beautiful and distinctive buildings. The abundance of parks, playgrounds and green space. Also popular are condos north of West 4th avenue, which offer a wonderful seaside location. This part of Kits was developed in the early 1900s by the Reifel Brothers who built a brewery on W. 12th and Yew and was instrumental in having the CN Rail extended from Downtown. They also filled in Connaught Park, which was a bog.
Despite being a bit of a destination for tourists and locals alike, Kits is still very much a neighborhood. You get a mix of UBC students renting basement suits, family homes, and just about everyone has a dog. The area has four public elementary schools and one public secondary school as well as four independent schools. There’s also the Kitsilano Public Library which is very accessible and just off Broadway and Macdonald. Kits is very walkable with all the amenities you could ever need as well as a couple of great pubs and mountain views galore!
Put Maggie’s decades of Kits knowledge to work for you! Call today! 604-328-0077
March 25, 2017
SOLD! 809-1833 Crowe – condos in Vancouver’s Olympic Village Neighbourhood.
This is Vancouver’s last waterfront neighbourhood and will soon be fully developed. The condo buildings are midrise concrete. Enjoy a seawall walk to Downtown or Kitsilano.
This waterfront neighbourhood is a viable option for condo buyers who wish to be close to Downtown. Also, the OV neighbourhood has a lower density factor and all amenities are at your doorstep. Located near the Skytrain and bus, providing easy access Downtown. You can also enjoy the False Creek Community Centre, BMO Goldcorp Theatre, kayaking, restaurants, pubs featuring craft beer, coffee shops, dental offices, a supermarket, pharmacy and more! A few blocks away on Cambie Street is Whole Foods, Save On Foods, No Frills, Home Depot, Winners and Home Sense. Costco is also close by.
Search for your False Creek home
Put Maggie’s decades of local knowledge to work for you! Call today! 604-328-0077
March 18, 2017
The following changes have been introduced for the additional property transfer tax:
Foreign national individuals who have received confirmation under the B.C. Provincial Nominee Program may be eligible for an exemption from paying the additional property transfer tax Refund
Foreign national individuals who were confirmed as a B.C. Provincial Nominee between August 2, 2016 – March 17, 2017 and paid the additional property transfer tax may be eligible for a refund
Foreign national individuals who become a permanent resident of Canada or Canadian citizen within one year of the date the property transfer tax is registered with the Land Title Office may be eligible for a refund of the additional transfer tax Information sheets 2016-005 and 2016-006 have been retired and the information is now on our website http://www.gov.bc.ca/propertytransfertax.
A class action lawsuit argues this announcement will be good for their case.
Buying or selling? Put Maggie’s decades of local knowledge to work for you!