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Month: September 2008

by Maggie Chandler Maggie Chandler No Comments

Featuring The Sapphire in Vancouver’s Coal Harbour

The Sapphire in Vancouver’s Coal Harbour recently opened and is one of  Coal Harbour’s newest condo buildings. As Vancouver’s real estate market continues to grow, Canada Post shows there are now over 4000 condos in Coal Harbour. 

Developer – Pinnacle has been a developer of Vancouver real estate for a long time

Features: security card access, high speed elevators, electric fireplaces

The Building: 34 storeys and 112 suites. Read more

by Maggie Chandler Maggie Chandler No Comments

British Columbia’s Green Building Code is Now in Effect

Every new building in the province must meet strict standards for energy and water efficiency. The new green requirements, which apply to all new construction in BC, were announced by the Provincial government in April and came into effect on September 5th.

New houses, multi-family residential buildings under 5 storeys, and small commercial and industrial buildings will now have to comply with the province’s new insulation requirements.

New high-rise residential towers and large commercial buildings must meet the American Society of Heating, refrigeration and Air Conditioning Engineers 90.1 (2004) standard. It applies to the building envelope, heating, ventilation, air conditioning, water heating, power, lighting and other equipment.

Ultra low flow toilets and other water efficient plumbing fixtures are now mandatory for all new construction.

The new Code also features amendments to the Development Cost charge provisions for developers. In principle, lower DCC’s will offset some of the appliance and construction improvement costs that may raise the price of a new home.

Both the federal and provincial governments offer rebates to underwrite some of the costs for existing home owners to renovate to Green Building Code standards and upgrade to energy efficient appliances and ultra low flow toilets. The BC government also offers PST exemptions on EnergyStar qualified products.

Get more info on the Building Code provisions by opening the link called ‘greening the BC building code’.

Share your green home story with us.

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courtesy REBGV

by Maggie Chandler Maggie Chandler No Comments

35th Annual Vancouver Circle Craft Xmas Market

The Circle Craft Christmas Market Preview runs October 3 thru November 4, 2008 at the Circle Craft Shop & Gallery on Granville Island. Admission is free!

Discover the work of a selection of craftspeople booked to be part of the 35th Annual Circle Craft Christmas Market at the Vancouver Exhibition and Convention Centre November 11–16, 2008. In other words, don’t miss this opportunity for Market fans to start your shopping lists early!

The Preview Exhibit focuses predominantly on the work of visual artist Lynn Blaikie (Whitehorse, YK), clay artist Myriam Bouchard (Saint-Antoine-de-Tilly, QC), wood artist Michel Chayer (Varennes, QC), children’s clothing designer Roisin Fagan (Halifax, NS), clothing designer Laura Kapp (Regina, SK), jeweller Hélène Limoges (Montreal, QC), doll maker Erica Perrot (Montreal, QC), jeweller Christine Phillipe (Quebec City, QC), jeweller Allyson Simmie (Hubbards, NS), and fibre artists Anke Fox and Lesley Armstrong (Dartmouth, NS)

 Visit their website

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by Maggie Chandler Maggie Chandler No Comments

What $5 Million Buys you in Real Estate in Vancouver Now Versus 2003?

The following is a study of Vancouver real estate, specifically Coal Harbour,  and what sold in condos during the month of September, between $1 and $10 million.

In September 2008 there have been 4 sales in the price range. A front suite on West Cordova sold for $1300 pr sq. ft.  – 1700 sq.ft. sold just over $2 million.

In September 2007  there were 23 sales. The most expensive was a north east corner at One Harbour Green, on a high floor, over 2600 sq.ft. sold for just over $4 million, over $1600 pr. sq.ft.

In September 2006 there were 9 sales.  You could buy the north west corner on a high floor at Callisto – 1281 West Cordova – for less than $1.7 million for 1368 sq.ft. , $1242 pr sq ft). Read more

by Maggie Chandler Maggie Chandler No Comments

New Hospital Construction Huge Business in Vancouver

There’s more to Vancouver real estate than condos and houses, billions of dollars are being invested in British Columbia to build new hospitals, as public-private partnerships.

In Vancouver, the VGH has been undergoing a complete transformation that goes back years and will continue some years into the future. The new Jimmy Pattison pavilion will replace the Centennial pavilion which has been renovated for other uses. The Gordon and Leslie Diamond Ambulatory Care facility and some dozen other projects are either done, ongoing or planned on the VGH grounds. Total cost is thought to be around $1 billion.

Plans continue to be discussed to relocate St. Paul’s Hospital to property near the Via Rail train station. Estimated cost around $1 billion. This project will be after 2010.

The B.C. Government and Teck Cominco announced plans to raise $200 million to rebuild the Children’s Hospital.

Many new condos have been built around the VGH. As for St. Paul’s,  my guess is the current site will be sold to a developer for condos.

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by Maggie Chandler Maggie Chandler No Comments

Canada Real Estate Roundup

Take a look at what’s happening in the real estate market across Canada – some up, some down, some flat:

Vancouver – prices down

Edmonton –  prices down

Calgary – prices down

Saskatoon – prices up

Winnipeg – prices up

Toronto- prices flat

Montreal – prices up

New Brunswick – prices down

Newfoundland – prices up

Uptick in Canada Housing Starts Seen as Temporary

We’ll update real estate information in the above Canadian cities after the September stats are published.

Which Canadian city will be the best performer for 2008? And which will be the worse? Leave a comment.

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by Maggie Chandler Maggie Chandler No Comments

Taste of Yaletown, Vancouver

The event invites Vancouver’s food and wine enthusiasts to discover and enjoy the fantastic offerings of Yaletown’s premier restaurants, who will offer guests a special three-course menu at set prices of $25, $35 or $45.

A portion of the proceeds raised will be donated to the Greater Vancouver Food Bank.

Visit their website for participating restaurants and menu information and contact the restaurants to make a reservation. Let us know which you think is the best Yaletown restaurant!

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by Maggie Chandler Maggie Chandler No Comments

Featuring The Ritz in Vancouver’s Coal Harbour

The Ritz at 1211 Melville Street, Vancouver will be opening next week, as Coal Harbour’s newest condo building. As Vancouver’s real estate market continues to grow, Canada Post shows there are now over 4000 condos in Coal Harbour.

Developer: Pinnacle International. The Ritz Website

Architect: Hancock Bruckner Eng and Wright Architects

Features: security card access to main extrance and underground parking and recreation areas, air conditioned, overheigh 9 ft ceilings in the majority of living areas, custom design electric fireplac

The Amenities: indoor pool, hot tub, sauna, steam, fitness facility, meeting room, screening room, party lounge, 24 hour concierge Read more

by Maggie Chandler Maggie Chandler No Comments

What You Should Know About Qualifying for a Vancouver Mortgage and Your Credit Score

The Canadian banks have tightened their requirements for people wishing to buy Vancouver real estate.

Many people who have below a 620 beacon score, may have challenges finding mortgage financing in the near future. After Oct 15, at least one applicant on a high ratio mortgage application MUST have a minimum 620 beacon score at all insured lenders.

Below is a basic overview of important factors that make up a credit score, and some tips on keeping a good score or improving a low one.

The credit score is not a summary of the applicant’s credit as of today. It is actually a prediction of the applicant’s likelihood to default on a debt over the next two years. The lower the score, the more likely that client is to default in the future, and therefore, the applicant is considered a higher risk candidate for a mortgage. Read more

by Maggie Chandler Maggie Chandler No Comments

Harper Offers Break to First Time Homebuyers

Canada’s prime Minister, Stephen Harper, announced today that he will offer a tax credit on expenses of up to $5000 for first time real estate buyers.

It would apply to fees such as Land transfer tax. Approximately 300,000 Canadians were first time home-buyers in 2007. Read it here

Are you a first time home-buyer? Do you think this initiative will help you? If not, what policy would most help you?

need some help working through the real estate maze as a first time home-buyer? fill out my contact form

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by Maggie Chandler Maggie Chandler No Comments

Vancouver’s Downtown Real Estate Market Analysis August 2008

Vancouver real estate market Downtown in August saw sales up, listings up, days on the market up and average sale price up slightly. There is an 11 month supply of condos in Vancouver’s Downtown.

Listings 782. Up from 745 in July

39 listings under $300,000. 206 between $300,000 and $400,000. 220 between $400,000 and $500,000. 213 between $500K and $700K. 64 listings between $700K and $1 million and 46 listings over $1 million.

2008 Listings Jan 420 , Feb 457  ,Mar 529 , Apr 630, May 669 , June 740, July 745, Aug 782

Sales 69. Up from 65 in July Read more

by Maggie Chandler Maggie Chandler No Comments

Vancouver’s False Creek North Market Analysis August 2008

Vancouver’s False Creek North saw listings up from 237 in July to 256 in August and sales increased from 9 to 14.  Days on the market dropped from 56 to 51 and the average selling price increased from $550,000 to $799,000. There is an 18 month average supply of condos in this waterfront neighbourhood.

Listings – 256. 41 are listed under $500,000. 145 False Creek North listings between $500,000 and $1 million. 47 listed between $1M and $2M. 19 listed between $2 and $4 million  and 2 listings over $4 million. Most expensive False Creek North condo is the Penthouse at 1000 Beach, now down to $14,800,000 from $18,200,000. Least expensive $334,500 for a 530 sq-ft l bedroom. Too many list price reductions to count!

Listings  Feb 153, Mar 174, May 202, Jun 210,  Jul 237, Aug 256 Read more

by Maggie Chandler Maggie Chandler No Comments

27th Vancouver International Film Festival

Vancouver’s 27th International Film Festival plays from September 25th – October 10th.

Critically acclaimed as “an unspoiled celebration of world cinema”, the festival brings you films from 50 countries and is among the five largest film festivals in North America, screeing 350 films, most of them twice, on to screens over a two week period.

The online film program guide goes live September  6th.  Watch for the comprehensive 200-page Souvenir Program Guide as of September 13.

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by Maggie Chandler Maggie Chandler No Comments

Vancouver’s West End Market Analysis August 2008

Vancouver’s West End market saw listings in August up a tad from 235 in July to 246 in August. Sales were flat(25 vs 25 in July) The days on the market for condos that sold increased from 51 to 57.  The average selling price dropped from $496,935 to $386,344. Very much a bottom end market.

Listings – 246 – there is currently a 9.8 month supply of condos in Vancouver’s West End. The least expensive is $139,000 which is a studio at 1250 Burnaby and is a foreclosure. 90 of them have had a list price reduction.

3 are listed under $200,000. 30 condos are listed under $300,000, including a 630 sq.ft. condo at 1855 Nelson, west of Denman. 77 listed between $300 & $400K.  50 listed between $400 & $500K. 51 listings between $500 & $800K. 16 listings between $800K and $1 million and 28 over $1 million, including 7 over $2 million.

2008 Listings – Jan  168, Feb 172 ,  Apr 232 , May  241 , June 235, July 235, Aug 246
Read more

by Maggie Chandler Maggie Chandler No Comments

Vancouver’s Coal Harbour Market Analysis August 2008

Vancouver’s Coal Harbour statistics for August show listings down to 212 from 220 in July.  Sales flat at 12. Days on market up to 83, from 73 in July and average selling price up substantially from $1,379,091 to $1,569,772, more high end than low end condos selling.

Listings – 212 45 listed under $500,000.  74 listed between $500,000 and $1 million.  64 listed between $1 and $2 million. 20 listed between $2 and $4 million. 3 listed between $4 and $5 million and 9 listed over $5 million.

2008 Listings  – Jan 128,Feb 149, Mar 179, Apr 176, May 175, June 192, July 220, Aug 212

Sales -12 Eight had list price reductions.  2 sold under $500K. 1 sold between $500K and  $1 million. 5  sold between $1 & $2 million and 3 sold between $2 & 4 million.   The most expensive was over $3 and a half million at 1281 Cordova on the waterfront.

There is a 15 month supply of listings in Coal Harbour under $500,000, a 74 month supply for listings between $500K and $1 million. A year’s inventory for listings between $1 and 2 million.  Six months of inventory for condos between $2 and 4 milion and no takers over $4 million. More high end condos selling this month.

2008 Sales – Jan 14, Feb 33, Mar 22, Apr 26  May 16, June 16, July 11, Aug 12

2007 Sales  – July 28, Aug 24, Sept 14, Oct 36 Nov 23, Dec 14

Contact me if you’re buying or selling in Coal Harbour

Days on market – 83. Jan 67, Feb 44, Mar 39, Apr 47, Jun 71, Jul 73, Aug 83

Average Price -$1,569,772 ,  July 1,379,091, Jun 803,091,  Apr $770,430, Mar 807,340, Feb $974,329, Jan $966,806

August 2007 – 45 sales. Days on market 43. Average selling price $807,340

Happenings – Harbour Green Two and The Ritz due for Completion in September. Flatiron due for completion in October. Shangri-la Hotel completing in the Fall. Harbour Green Three now pre-selling, prices start at $1800 pr sq ft and smallest condo is 2800 sq.ft.  Residences on Georgia and The Ritz Carlton now pre-selling.

Contact me if you would like to buy into the building or other Coal Harbour waterfront condos.

Have an opinion on the Coal Harbour market? Please leave a comment.

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by Maggie Chandler Maggie Chandler No Comments

Vancouver’s Kitsilano Market Analysis August 2008

Vancouver’s Kitsilano condo neighbourhood saw sales for the month of August drop from 38 to 25  and listings up slightly from 159 to 165. Average price for sold condos dropped from $439,663 in July to $416,240.  Days on the market dropped from 43 to 37.

Listings 166(159 in July). Of those 44 had price reductions (vs.46 in July). 94 are listed under $500,000 and 65 between $500,000 and $1 million and 6 over $1 million. Cheapest Kitsilano studio $229,000, cheapest 2 bedroom $449,000 for 850 sq.ft.

Sales 25 – 8 had list prices reduced (vs. 14 in July). 22 Kitsilano condos sold under $500,000 and 3 between $500,000 and $850,000. There is a 4.2 month supply of condos under $500,000 and  a 21.6 month supply of condos over $500,000 and none selling over $1 million. Least expensive Kitsilano sale was under $270,000.

2008 SALES – Jan 26, Feb 44 , Mar 20, Apr 42, May 45, June 35, July 38, August 25

Days on the market  – January 27, February 18, March 18.  April 28, May 28, June 28, July 43, August 37

Average price –  Jan $449,600, Feb $486,260 Mar $451,000, Apr $ 476,452, May $492,063, Jun $ 398,350 Jul $439,663 , Aug 416,240

During August Kits condo market was in step with the rest of Vancouver’s condo market.

View my other posts for Kitsilano or search for Kitsilano listingsIf you are buying or selling a condo in Kits, please fill out my contact form.this site is updated regularly, subscribe via RSS or email FOR FREE

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