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Month: June 2010

by Maggie Chandler Maggie Chandler 2 Comments

Vancouver Real Estate Listing Search Hits iPhone & Andriod

Blackberry version of this application has entered development.

MyRealPage has launched a very exciting new feature: geo-location aware property searches on iPhone and Android-based phones. Last week, iPhone OS 3.0 has been released and iPhone 3GS has shipped. Just before that, Android “Cupcake” version has been released and HTC Magic launched. Hot on the heels of these events, MyRealPage releases mobile search designed for iPhone and Android based phones (such as HTC Dream and Magic). This is a very new and exciting application space for MyRealPage! Read more

by Maggie Chandler Maggie Chandler 2 Comments

Russia Sows the Seeds for Oversees Property Boom

courtesy Globaledge 

The Russian government is to undertake a series of measures aimed at promoting home ownership.   Although the policies aim to encourage property purchasing within Russia; if the British experience is anything to go by, a likely side effect will be a rise in the number of Russians buying overseas.

Russian President Dmitry Medvedev is aiming to help the 77 percent of the country’s 142 million people who are “cooped up” in apartment blocks by building single family homes around the outskirts of major cities, according to Business Week. A huge increase in construction over the next few years will be accompanied by television and billboard advertising selling what Alexander A. Braverman, director of the Federal Fund for the Promotion of Housing Construction Development, calls the “Russian dream” of home ownership.  Read more

by Maggie Chandler Maggie Chandler 4 Comments

Are Vancouver Real Estate Open Houses Worth the Effort

Vancouver Real estate open houses – realtors opens and public opens – have been one of the main marketing tools to sell properties but are they still worthwhile for the seller and the realtor?

Before the advent of the internet this was certainly the marketing tool that attracted many serious buyers and provided realtors with an opportunity to meet new clients.  But now buyers can search for homes, view pictures and virtual tours on the internet, receive new listings via email and now mobile services are being introduced. Are opens still beneficial? Serious buyers are now subscribed to listings searches and will either call their realtor or the listing agent when a new listing is of interest. Read more

by Maggie Chandler Maggie Chandler No Comments

Vancouver Real Estate Analysis for Shangri-la

Vancouver’s Shangri-la condo building has two sections, the Estates at Shangri-la which is the 46th to 61st floor and the live/work suits at 1111 Alberni which run to the 46th floor

The Estates at Vancouver Shangri-la condo building now has an equal number of listings to November last year and a total of 8 sales for the year, vs 12 for 2009. The live/work condo sales this year are on par with 2009. Altogether a steady market for this luxury condo building which opened in November 2008. March was the busies for sales in both sections of the building and the market has slowed in June.

Currently there are 10 suites for sale in the Estates at Shangri-la, from $2.8M and  8 sales in 2010 including my lisitng on 53rd floor, which is a unique (one of only 3) double height 3 bedroom 4500 sqft, listed at $5,780,000 and the second most expensive resale to date. Read more

by Maggie Chandler Maggie Chandler No Comments

BCREA’s Projection for Vancouver Real Estate

I recently attended a presentation by BCREA’s chief economist Cameron Muir  on the current conditions and future projections for Vancouver’s real estate market. It was very interesting.

Here are the highlights, as per my notes

-affordability is the largest challenge, rising rates and tighter credit

-international migration equals population growth which is good for real estate which always performs in cycles.

-Vancouver is a Gateway City and over the last 10 years the world’s gateway cities have performed the best. The Asia connection is positive. China is rising and our linkages to Asia – transportation, students, brain power, will continue for the next 20 years Read more

by Maggie Chandler Maggie Chandler No Comments

Canada Real Estate Roundup

Home Sales

Existing home sales activity totaled 42,078 units in April, up 20.1% from last year and down 2.6% from last month. Experts believe there will be a gradual calming of the recently “hot” home sales activity over the next year, citing rising interest rates and a change in mortgage regulations that may have encouraged some buyers to push their timeline forward to purchase before the regulations took effect on April 19.

Average Home Price

Low supply and strong demand continued to boost prices. The national average home price was $344,968 in April, up 12.2% from April 2009 and up 1.2% from March. Experts anticipate home price appreciation will slow, but prices will remain stable – a positive sign for the long-term health of the housing market.

Read more

by Maggie Chandler Maggie Chandler No Comments

Vancouver Real Estate Analysis for Olympic Village

The Olympic Village is Vancouver’s last waterfront community.  Vancouver real estate statistics for False Creek South (Olympic Village) saw May listings and sales increase.  Average days on market dropped from 60 to 29and  average sold price increased to  $588,000 . Average $psf  $615.. Sale price to list price ratio 98%.

420 units of the 1,100 total units on the site have been sold.   MilleniumWaterwill be pre-selling the remainder in May . The waterfront units will be over $1M. Hire me as your Buyer Agent! May 15th is the Grand Opening and 9 floorplans will be on display. View the plan for the neighbourhood, including its amenities. The neighbourhood will eventually house 16,000 people. N.B. Roger bayley was the design manager of the Challenge Series.

We can only track the activity for this neighbourhood through MLS,not the Developers who are pre-selling, but that will eventually change as they all become resales and then we can get a better feel for the neighbourhood.Most expensive listing $1,590,000 for 1225 sq.ft.  penthouse (air conditioned) in Foundry. Least expensive $305,000 for a studio.

Listings 2009 – Feb 19,  Mar 18, Apr 16, May 26, Jun 28, Jul 18, Aug 26, Sept 36, Oct 40, Nov 28, Dec 25

Listings 2010 – Jan 33, Feb 36, Mar 33, Apr 39, May 47

12 listed between $300,000 & $500,000. 17 listed between $500,000 and $1M and 4 listed over $1M Sales 2009-Feb 0,  Mar 3, Apr 5, May 3, Jun 4, Jul 10, Aug 2, Sept 9, Oct 3, Nov 7, Dec 11 (4 resales and 7 pre-sales)

Sales 2010 -Jan  7, Feb 4, Mar 7 (all under $750,000), Apr 5 (all under $485,000), May 10 (all under $750,000)

Average Days on Market for Solds 2009-Mar 22, Apr 28, May 14, Jun 41, Jul 94, Aug 37, sept 17, Oct 20, Nov 36, Dec 35

Average Days on Market for Solds 2010 – Jan 24, Feb 25, Mar 36, Apr 60, May 29

Average Sale Price – Mar $399,000 , Apr $325,000, May$429,665, Jun $424,750, Jul $378,150, Aug $401,500, Sept $516,522, Oct $726,000, Nov $457,000, Dec 419,000

Average Sale Price – Jan $396,258, Feb $571,980, Mar $490,470, Apr $420,380, May $558,270Average $psf 2009 – Mar $485, Apr $533, May $557, Jun $538, Jul $561, Aug $549, Sept 635, Oct $551, Nov $611, Dec $586Average $psf 2010 – Jan 617, Feb $622, Mar $622, Apr $642, May $615

List Price to Sale Price Ratio 2009- Mar 96%, Apr 97%, May 99%, Jun 98%, Jul 98$, Aug 98%, Sept 100%, Oct 99%, Nov 98%, Dec 99%

Sale Price to List Price Ratio 2010 – Jan 100%, Feb 99%, Mar 98%, Apr 99%, May 98%

Neighbourhood Buildings –LOFT 495 at 495 W. 6th. LOFT 338 at 338 W. 8th. The VUE at 2520 Manitoba is now 3 years old. The ELEMENTS at 2515 Ontario was built in 2004.  THE CALLADINE at 2626 Alberta completed in 2008. XL LOFTS at 438 W. 8th. CENTRO at 138 W. 6th. TURNBULL’S WATCH at 380 W. 10th, THE EXCHANGE at 388 W. 1st

Canada Line, which joines Vancouver International Airport to Downtown. On August 17, 2009 the ride was free and there was a 2 hour wait. check out the website

NOW PRES-SELLING!   MAYNARDSBLOCK on W. 1st & Cambie – Two 13 and 9 storey concrete, steel and glass towers connected to historically restored Maynards brick buildingwith  171 CONDOS UNDER  $399,900. Rennie Marketing Presentation Centre open Sat-Thurs.  Developer is Aqualini.  James at 288 W. 1st by Cressey. Call me if you are interested in buying.

PINNACLELIVING at 20 E. 1st. 600sf one bedrooms from $359,000. 1050 sf two bedrooms from$699,000. Due for completion October 2011.

UPCOMING PRESALES –1700 Manitoba and 1827 Crowe

Olympic village condos completed in November 2009 , occupied by the Olympians, then the Developer will clean them up and owners will receive title in summer 2010. Remaining units now pre-selling, starting at $499,000 – $5million

Visit the City’s website on this neighbourhood

Subscribe to Millennium-Water’s ezine and learn more about the Olympic Village site, its industrial history, sustainability, planning, policy, water, amenities, the community

search for listings on your own VOW (virtual office website). Sign up for a FREE subscription and receive listings 2 days before realtor.ca, in Full Printout. Search by address, MLS#, street. View google street search, Walkscore and more! 

when you’re ready to buy or sell an olympic village condo, contact Maggie, an experienced marketing vancouver homes since 1981 and 2009 MLS Medallion Club Master Diamond Member

keep up to date with vancouver’s changing real estate market, subscribe via RSS or email

info from rebgv and though deemed to be correct, should be verified by the individual

by Maggie Chandler Maggie Chandler No Comments

Canada’s Annual Inflation Rate Slides

The consumer price report showed that the headline inflation index rose 0.3% in May, beating expectations for an increase of 0.2%. The year-over-year rate eased to 1.4% from 1.8% in April because this year’s monthly increase fell short of last May’s 0.7% jump. The unadjusted Bank of Canada’s core measure also rose 0.3% in May, which was in line with expectations. The year-over-year rate edged down to 1.8% after averaging 1.9% in the first four months of 2010. In the month of May, prices for electricity, passenger vehicle insurance premiums, traveller accommodation and homeowners’ replacement costs rose. These increases were partially offset by lower prices for women and men’s clothing, gasoline and fresh vegetables. The seasonally adjusted all-items index posted a 0.1% decline in May. Relative to a year earlier, the biggest gains were recorded in passenger vehicles prices, gasoline, vehicle insurance premiums and homeowners’ replacement costs. Natural gas and other fuel prices were also higher than in May 2009.  Moderating the effect of these increases were lower mortgage interest costs, furniture prices and women’s clothing prices. Read more

by Maggie Chandler Maggie Chandler No Comments

Managing the Stresses of Buying and Selling a Home

Guest Article by Stanley Popovich Many people deal with the anxieties of buying or selling a home.  This process can be confusing to many people. As a result, here is a list of ways that a person can use to manage the anxiety of purchasing or selling a home. The first step is to determine your goals in purchasing or selling a home. Determine what you want to accomplish.  It will save you a lot of time and money in the long run if you know what you are looking for.  Sit down and think about the overall goal of what you are looking for and convey this to your real estate agent. Some people like to write down their goals on a piece of paper so they have something to go back to when they get stressed. Read more

by Maggie Chandler Maggie Chandler No Comments

Vancouver Downtown Real Estatate Analysis

Vancouver’s Downtown real estate analysis in May saw listings  up again and higher than any month since Jan 2008 and double what they were a year ago! Sales were less than in April  but higher than May’09 and the second worst month of this year after February.  The hottest price range was $300,000-$400,000 and the slowest was between $700k & $1M.  A big jump in the listings over $1M.  Average days on the market steady at 33,  and average $psf down to $617 and the second lowest for the year, after February and equal to Sept’09 and Feb’08. Sale price to list price ratio steady at 98%. Supply up to 6.5 months and the highest since Jan’09. Now a good buyer’s market.

Listings Inventory  866. 494 listings under $500,000 (including 51 under $300,000)  238 between $500K and $700k.  76 listings between $700K and $1M.   39 listed between $1M and $2M (up from 3 last month) and 19 listed over $2M. An increase in all categories except between $700k & $1M and over $2M. Read more

by Maggie Chandler Maggie Chandler No Comments

BC Homebuyers Facing less Competition

from BCREA

The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province declined 4 per cent to 7,950 units in May compared to the same month last year. On a seasonally adjusted basis, MLS® residential unit sales in the province declined 11 per cent in May from April 2010. The average MLS® residential price climbed 7 per cent to $498,294 in May compared to the same month last year.  

“A slower pace of home sales combined with an increase in the inventory of homes for sale has quelled upward pressure on home prices,” said Cameron Muir, BCREA Chief Economist. A total of 54,362 MLS® residential listings were recorded in May, up 26 per cent from January on a seasonally adjusted basis. “Moderating market conditions in Vancouver, the Fraser Valley and Victoria are reducing the number of multiple offers as a greater selection of homes for sale lessons competition amongst home buyers,” added Muir.

Year-to-date, BC residential sales dollar volume increased 50 per cent to $17.5 billion, compared to the same period last year. Residential unit sales rose 31 per cent to 34,619 year-to-date, while the average MLS® residential price climbed 14 per cent to $505,468 over the same period.

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contact Maggie when you’re ready to buy or sell vancouver real estate

by Maggie Chandler Maggie Chandler No Comments

Vancouver Real Estate Analysis for the West End

West End real estate analysis saw May listings up and sales down from the previous month. Listings are the highest since I started tracking them in Jan’08 and sales were the second lowest for the year.  The days on the market for condos that sold increased to 32. The average selling price is $564,965 , leaving March the highest for the year.   73% sold under $500,000, resulting in a challenging market for sellers in higher price range.  A 5.5 month supply equal to May’09. but over $1M the supply is 11 months. 75% of sales were under $500,000. The list price to sale price ratio down to 96% . Now a strong buyers’ market.

Listings – 290.  26 listed under $300,000, 77  listed between $300,000 and $400,000. 49 listed between $400,000 and $500,000 , 80 listed between $500,000 and $1M (up 35%), 40 listed between $1M & $2M. 18 listed over $2M Read more

by Maggie Chandler Maggie Chandler No Comments

Vancouver Real Estate Graphs

The  graph for Greater Vancouver real estate shows the average price of Greater Vancouver homes, townhomes and condos topping.  Prices have been rising since March’09. The graph shows the houses on the top, townhomes (middle) and condos (bottom) average price from 1977 to present.  The Vancouver market peaked in 1981, 1989,1993 and 2008. Vancouver real estate didn’t appreciate much between 1994 and 2002 but they did between 2002 and 2008. Then it dropped about 20-25% and has now surpassed the highs of 2008.

Following are the stats for Vancouver West Side –

May saw new istings sales decrease, compared to April. Sales were lower and listings higher than May’09. Median price of houses and townhouses are up and condos are down, compared to April . Prices remain higher than a year ago. Read more

by Maggie Chandler Maggie Chandler No Comments

Vancouver Real Estate Analysis for False Creek North

False Creek North real estate analysis for May saw listings on the rise for the sixth consecutive month,  from 258 to 253,  equal to Oct’08 and Jan ‘09.   Sales fell from 31 to 22 and lower than May’09 and ‘08. 15 of the 22 sales were under $1M.   The listings that didn’t sell and came off the market is the highest for the year at 21 (10% of inventory). A whopping 11 months of inventory and the market over $1M not doing well. Days on the market jumped from 40 to 68. The supply of condos  is 4 times greater than it was in November. Average $psf 802 and sale price to list price ratio up to 98%.

Listings –  255  eight listed under $400,000 and 25 listings between $400,000 & $500,000. 53 listed between $500,000 and $700,000. 79 listed between $700,000 and $1 million.  61 listed between  $1 & $2 million and 29 listed over $2 million, including 2 listed over $10M.

Expireds (didn’t sell) March 13, Feb 5, Mar 17, May 21 Read more

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