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Month: November 2009

by Maggie Chandler Maggie Chandler No Comments

2009 Vancouver’s Best Year Ever for Luxury Home Sales

I received a comment asking for facts on luxury home sales this year vs. previous years.  Surprisingly 2009 has been the best on record for high end sales of homes and condos, with a total of 126 sales over $3 million. Of those, 23 were condos and the remainder houses. Four condos sold over $5 Million, one in Shangri-la and the remainder on the Coal Harbour waterfront.

Properties  sold over $3 million – 2005 had 35 sales. 2006 had 83. 2007 had 100. 2008 had 93 and this year has had 126 to date.

Properties sold over $5 million – 2005 had 3 sales, 2006 had 16, 2007 had 15, 2008 had 19 and 2009 has had 22 (currently 48 listings, so a tight market with only 2 months of supply).

Properties sold over $10 million – 2006 had one sale, 2008 had 2 and 2009 has had 2. Read more

by Maggie Chandler Maggie Chandler No Comments

Featuring Hotel Georgia Private Residences

The iconic Hotel Georgia at 667 Howe Street, Vancouver, now boasts the largest Canadian flag ever! Known as Canada Corner, the 12 storey flag has become a Vancouver landmark. The Hotel was built in the 1920s and was host to the rich and famous. Now it’s being redeveloped into a luxurious boutique Hotel/Condo.

View their new website! check out the amenities which include a luxurious spa, fitness facility, billiards room, media room, meeting room and a cognac room and Hawksworth Restaurant named after Chef David Hawksworth. The fourth floor Terrace is said to be one of the city’s most prestigious terraces to enjoy a cocktail or to dine.

One bedroom and dens 1070 sf, starting at 14th floor to 4 bedrooms, den and media room nearly 3800 sf on the 45th to 47th floors. The Penthouse will occupy the 48th floor. Read more

by Maggie Chandler Maggie Chandler No Comments

The Goh Ballet’s Nutcracker

The Goh Ballet Academy celebrates the holidays with their performance of the Nutcracker, my favourite ballet, at the Centre in Vancouver. December 17-20th, featuring principal dances from the National Ballet of Canada and music by the  Vancouver Metropolitan Orchestra.

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by Maggie Chandler Maggie Chandler No Comments

The Sounds of Christmas

Reserve your tickets to hear the highly acclaimed Vancouver Welsh Mens Choir performing on November 29th at the First Baptist Church, 969 Burrard Street. They perform their traditional Christmas concert with a Canadian flair.

Starts at 8pm. Tickets $22. Ticketmaster or at the door or on line

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by Maggie Chandler Maggie Chandler No Comments

Vancouver’s Santa Claus Parade

The sixth annual Rogers Santa Claus Parade takes place on Sunday, December 6, 2009 in Downtown Vancouver.

View the map, see how to participate, what to wear, donate to the FoodBank, be a sponsor, volunteer, where to meetup

Join in the Face Painting, discover the Gingerbread Tent, partake in the Balloon Twister and more!

Tis the season to be merry, tralalalalalalala

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by Maggie Chandler Maggie Chandler No Comments

Why Hire a Realtor Who Blogs to Sell Your Vancouver Property

It is interesting to me that only a small percentage of Realtors blog.  I ask why this is so, as the Internet continues to be the main tool for marketing real estate. I believe real estate blogs  are an invaluable tool for potential sellers and buyers, as they can learn a lot about a realtor prior to hiring them.

Here are some of the advantages

1. Get to know your realtor before you hire them.   Get to know your realtor before you commit to working with them. Leave comments and receive answers. Blogging offers transparancy. Read more

by Maggie Chandler Maggie Chandler No Comments

Featuring 1281 West Cordova, Coal Harbour, Vancouver

Address – 1281 W. Cordova, Coal Harbour, Vancouver, BC, V6C 3P9

Callisto is the sister building to Carina at 1233 W. Cordova. The Building’s innovative curve design forms shape of a sail and is one of only seven exclusive waterfront buildings on West Cordova. All suites maximize the wonderful mountain and oceanviews with floor to ceiling windows, natural gas fireplaces, generous balconies on the condos and roof terraces on the townhomes.

Built – 2002

Developer – Delta Land Developments

Architect – Hancock Bruckner Read more

by Maggie Chandler Maggie Chandler No Comments

Canada Real Estate Roundup

The average Canadian real estate price in October saw the big cities of  Vancouver, Victoria, Calgary, Edmonton, Winnipeg, Toronto, Ottawa, Montreal all  higher than a year ago, as are all the Maritime Provinces & Newfoundland. Saskatoon was the only exception to the rule. The following is a release by CREA, you can hold your mouse over a specific city or province and view the current average price and the average price one year ago.  Read the latest summary. 

View my Canadian real estate blogs  Read more

by Maggie Chandler Maggie Chandler No Comments

Featuring Avila in Vancouver’s Coal Harbour

Address – 560 Cardero Street, Coal Harbour, Vancouver, BC. “Waterfront Place Complex”. Avila was the first of four condo buildings to be built at Waterfront Place, on Coal Harbour’s waterfront, of which there are 2 Bayshore buildings, 4 Waterfront Place buildings and 7 on West Cordova, for a total of only 13. The first 2 condos to be built in Coal Harbour were Harbourside Park (555 Jervis and 588 Broughton), followed by Avila and Bauhina

Built –  1998  . 21 floors featuring amazing water and mountain views from front condos

Architect– Perkins & Co. Architects and Urban Design

Construction Co – Scott Construction Co. Read more

by Maggie Chandler Maggie Chandler No Comments

Vancouver Real Estate Analysis for Downtown

Vancouver’s Downtown condo market saw listings and sales up in  October, with  the market under $700,000 selling the best.  The average selling price jumped to $519,000 and the average $psf down a tad to $610.  Monthly sales were the second highest for the year and higher than any month in 2008.  Listings back to the Jan/Feb level. Condos that  “expired” and didn’t sell dropped from 53 to 33 (vs. 78 in Jan) and only 5 got relisted.  Average days on the market for condos that sold steady at 32.  68% of the sales were under $500,000 (down from 80% in August) and sales increased over $1M.  The supply is down to 3 months vs.16 months last October.  List price to sales price ratio flat at 98%.  Vancouver’s downtown market remains strong.

Listings -543.  Least expensive $220000 for a small studio.  Most expensive –$6.6M for 3500 sqft in Residences on Georgia Sub-Penthouse.

Listings Inventory –  20 listings Downtown under $300,000.  112 between $300K and $400K.  134 listings between $400K and $500K.  160 condos listed between $500K and $700K.  64 listed between $700,000 and $1M.  53 listed over $1M, including 4 over $3M. Read more

by Maggie Chandler Maggie Chandler No Comments

Vancouver Real Estate Analysis for False Creek North

Vancouver real estate analysis for False Creek North saw listings down from 127 to 125. Sales down from 41 in September to 33.  Days on the market up to 53 but less than a year ago.  The average selling price jumped from $714,000 to $980,000 as more condos sold over $1M, which also pushed up the $psf. The average supply of condos in this waterfront hood is down to 3 months. The sales over $1 million dropped in September but tripled in October.  This neighbourhood now selling best between $700k and $1M.  Both listings and sales crunching down together and now at the lowest since March/April. Will more buyers or sellers visit the market after 2010 Olympics in the Spring?

Listings –  125  six listed under $400,000 and only 17 listings between $400,000 & $500,000. 23  listed between $500,000 and $700,000. 37 listed between $700,000 and $1 million. 31 listed between  $1 & $2 million and 11 listed over $2 million. 12 condos  did not sell and only two were re-listed, indicating these sellers will revisit the market again in the future, 50% of the 12 were over $1M. Read more

by Maggie Chandler Maggie Chandler No Comments

Mortgage Restructurer – Prime minus .25% for 3 years

This just in from my mortgage broker, Alma Pasic.  Borrow as much as $400,000 and pay $1,323.35 per month. Mortgage Sale Ends December 16, 2009.  One of Canada’s most Aggressive Mortgage Product’s on sale now! All purchases, refinances or debt consolidations are elgilble for. Prime – .25% for 3 year variable = 2.00% TODAY.  Email us at [email protected] for a free information package.  

  • The Trend is your friend: It wasn’t all that long ago that we were Prime +.80 etc..and look where we are now. What will Prime +/- look like in 3 yrs. That I can’t answer but the trend is your friend. We could easily be back to P-.60 or greater in a few years which is perfect timing for when the 3yr ARM will be up for renewal.

 

  • Most likely you will lock-in your ARM when Prime increases, the 3 yr ARM makes the most sense as it gives you more conversion options then on the 5 yr. On the 3 yr ARM, 1 yr from now, clients could chose a 2, 3,4,5 + term. If you chose a 5 yr term, 1 yr from now, they would only be offered a 4,5 + term. REMEMBER THE LENDER CONVERTS ALWAYS AT BROKER BEST RATES, NOT CHARTERED BANKS POSTED RATES.  Saving you thousands of dollars over the term Read more

by Maggie Chandler Maggie Chandler No Comments

Vancouver’s Most Expensive House

A quick search of MLS solds shows only four Vancouver houses have sold over $10M. The most expensive being on Point Grey Road for nearly $15 Million this year. Currently the most expensive home listed on MLS is on Osler Street for $22M and there are 12 listings over $10M.

Take a drive up to Point Grey’s most prestigious ridge – Belmont Avenue and you’ll find a 25,000 sf mansion being built. It will probably be Vancouver’s most expensive mansion on 1.7 acres. The lot was purchased in the fall of 2005 for $8.7M and was on the market for 20 months. Other incidentals, such as the 13,000 sq.ft. pool add up to a total square footage of over 45,000 sq.ft. Global TV report its value to be over $31 million when its built. 

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by Maggie Chandler Maggie Chandler No Comments

Vancouver Real Estate Analysis for Olympic Village

90 Days to go and counting! Vancouver’s 2010 Winter Olympics commence on February 12, 2010.The Olympic Village is Vancouver’s last waterfront community. Vancouver real estate statistics for False Creek South (Olympic Village) saw listings up and sales down for October.

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

We can only track the activity for this neighbourhood through MLS, not the Developers who are pre-selling, but that will eventually change and then we can get a better feel for the neighbourhood. Most expensive listing $1,749,000 for 1359 sq.ft.  penthouse (air conditioned) in Foundry. Read more

by Maggie Chandler Maggie Chandler No Comments

Vancouver Real Estate Analysis for West End

Vancouver real estate in the West End saw October listings down and sales flat, resulting in 2.6 months of inventory, same as September.  The days on the market for condos that sold increased from 39 to 47.   The average selling price dropped to $616,000 due to fewer condos selling over $1M.   75% of the sales remain under $500,000. The list price to sale price ratio flat at 98% and the highest for the year. In February the market under $300,000 was selling the best -currently only 15% of the sales which have been dropping since their peak in May. Affordability factor kicking in?

Listings – 157.  12 listed under $300,000 (including 1 under $200,000). 25 listed between $300,000 and $400,000. 20 listed between $400,000 and $500,000.  55 listed between $500,000 and $1M.  38 listed between $1M & $2M. 7 listed over $2M

Least expensive –$198,00 for a leasehold one bedroom Read more

by Maggie Chandler Maggie Chandler No Comments

BCREA’s 2010 Forecast

Vancouver, BC – November 13, 2009. The British Columbia Real Estate Association (BCREA) released its Fall 2009 Housing Forecast today.

BC Multiple Listing Service® (MLS®) residential sales are estimated to increase 20 per cent to 82,900 units this year from 68,923 units in 2008. Residential sales in 2010 are forecast to increase a further 8 per cent to 89,600 units. The ten-year average is 82,800 units.

“A sharp rebound in consumer demand turned a potentially dismal year into a very strong year for home sales,” said Cameron Muir, BCREA Chief Economist. “Vancouver and Victoria, in particular, are posting near record unit sales this fall.”   

BC interior housing markets are also experiencing robust consumer demand as low mortgage rates and stronger market confidence drive home sales higher.

The average annual MLS® residential price in the province is expected to post a new record this year, rising 2 per cent to $463,200 and is forecast to climb an additional 4 per cent to $482,800 in 2010.

“Recovery in the BC economy will unfold gradually next year,” added Muir. “With sales prices in some markets flirting with record highs, affordability constraints will limit home price inflation over the next year.”  

The full Fall 2009 Housing Forecast

when its time to buy or sell vancouver real estate contact Maggie

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by Maggie Chandler Maggie Chandler No Comments

Upcoming Vancouver Real Estate Pre-Sales

The implementation of the HST on July l, 2010 will increase the cost of new housing.

Currently selling in the Olympic Village neighbourhood are Maynards Block, Pinnacleliving.  In Kitsilano, on West Broadway where the IGA parking lot has been forever will now be a new condo towerMantra on 4th Ave is completed and still has suites for sale. Then there’s Spruce on Spruce and W. Broadway in Fairview, starting in the mid $300s. Koi townhomes on Oak and 8th

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ready to buy a pre-sale? call maggie

by Maggie Chandler Maggie Chandler No Comments

Vancouver Real Estate Analysis for Coal Harbour

Vancouver real estate analysis for Coal Harbour in October saw sales and listings increase, compared to September.   Days on market up slightly to 68, a tad higher than a year ago.  Coal Harbour inventory dropped slightly to 4.6 months and has been in this range since April. Luxury sales over $2 million are on the upswing pushing up the average sale price to $1,191,800 (higher than a year ago) and average $ pr sq ft up to $848.  List price to sale price ratio stable at 95%. No more than 5 months of inventory in any price range, including over $2M. However, as Fairmont Estates close in January we expect to see a number of flippers. New condos on Coal Harbour’s waterfront now listed over $2000 psf, resales now at $1600 psf.  Fairmont and Three Harbour Green are the last remaining new waterfront buildings. Waterfront condos are becoming ever more expensive.

Listings -139.  33 listed under  $500,000.  43 listed between $500,000 and $1M. 31 listed between $1M and $2M and 32 listed over $2M, including 9 over $5M, expect to see this number rise as Fairmont completes and the flippers hit the market.

55% are listed over $1M, up from 45% in October. Read more

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