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Month: December 2010

by Maggie Chandler Maggie Chandler No Comments

Vancouver’s Top 5 Real Estate Stories in 2010

Here are my top five real estate stories for 2010

#1 – Coal Harbour’s Three Harbour Green sells the Penthouse during the Olympics for $25 million

#2 – Olympic Village goes into receivership in November 2010

#3 – Mayor Gregor’s bike pain and the disruption it has on surrounding real estate & businesses Read more

by Maggie Chandler Maggie Chandler No Comments

Let’s bid adieu to 2010

It was the best year ever for Vanocouver! Let’s bring back the Winter Olympics!!  And KD Lang!

What was the most memorable event for you?

Are you ready for the New Year?

Wishing everyone a very best for a fabulous New Year!

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by Maggie Chandler Maggie Chandler No Comments

What next for Vancouver’s Olympic Village?

IMG_1090Vancouver’s troubled Olympic Village will be returned to the market on February 12, 2011 – the one year anniversary of the 2010 Winter Olympics. When completed there’ll be 16,000 residents in the neighbourhood.

Going on sale will be 150 units in two or three waterfront buildings, including signature building 4 which housed the athletes. There will be significant price reductions. The condos average 1,000 sq.ft. and half of them will be under $1M.  The other half Read more

by Maggie Chandler Maggie Chandler No Comments

777 Things to Do in Vancouver, BC

ist2_2885853-polar-bear# of 777 Things to do in Vancouver, BC – Polar Bear Swim on January 1, 2011 !

The Vancouver Polar Bear Swim Club is one of the largest and oldest Polar Bear Clubs in the world. Its initial swim was in 1920 when a small number of hardy swimmers took the plunge into English Bay on New Year’s Day. Led by their founder, Peter Pantages, the swim has grown from around 10 swimmers in that year to the record number of 2,128 official entries in 2000.

Today, the swim takes place at 2:30pm on the first day of each new year.  To be a club member you must register before the swim — it’s free. Registration takes place in front of the English Bay Bathhouse from 12:30pm – 2:30pm each New Read more

by Maggie Chandler Maggie Chandler No Comments

77 Reasons to Buy Vancouver Real Estate

Reason #2 of 77 reasons to buy Vancouver real estate

Major construction projects in B.C. at unmatched levels

An unprecedented 931 major construction projects, worth an estimated record of $198 billion, were planned or underway in British Columbia during the second quarter of 2010.

The number of proposed projects, 563, is also an all-time high.

Since 2001, the number of projects has tripled, and their value has more than quadrupled. (Ministry of Small Business, Technology and Economic Development, Major Projects Inventory: June 2010 Edition) Read more

by Maggie Chandler Maggie Chandler No Comments

Merry Xmas and a Very Happy New Year

1288648677oGP90gWishing you a very mery Xmas and a happy and prosperous New Year!

We will not be publishing until January

contact Maggie , an experienced vancouver realtor, when you’re ready to buy or sell vancouver real estate

by Maggie Chandler Maggie Chandler No Comments

Vancouver’s Luxury Condo

November saw a tick up in Vancouver’s luxury condo sales. There were 8 sales over $2M, of which 5 were  in Coal Harbour, taking an average of 117 days to sell, at an average of 90% sale price to list price ratio with an average of $1,399 pr sq ft. There were 6 sales under $4M and 2 sales over $4M. Two sales were Read more

by Maggie Chandler Maggie Chandler 2 Comments

Kits360 – New Condo Project

As I drove by Burrard and West First Avenue yesterday, I noticed a sign in the window that said Kits360, so I googled it.

Pre-selling in Spring 2011, there will be a new condo building at 1777 W. 7th (the Accura dealership) starting at $329,000.  It will have great mountain/city views. What’s great about this new condo building? The location!  Public transportation within easy walking distance, giving access to Downtown. Close to the seawall and Granville Island, neighbourhood shopping and restaurants at your doorstep. It’s affordable.

Contact Maggie if you’re interested in buying, an experienced vancouver condo realtor since 1981

by Maggie Chandler Maggie Chandler No Comments

Vancouver Mortgage Update

From Alma Pasic, Mortgage Consultant, Verico Wealth Wizard Financial Corp

Holiday Rate Specials:  5 years 3.45%, pre approvals for 90 days…most banks are 3.89% – 4.04%.  3 years 3.19%.

High Ratio only specials: 3 Year ARM with a rate of Prime-0.80%.  3 Year 50/50 Wise with a Fixed component rate of 3.19% and an ARM component rate of Prime-0.80%. That’s an effective rate of 2.69! Read more

by Maggie Chandler Maggie Chandler 2 Comments

Greater Vancouver Real Estate Average Price Graph

avgGraph

The  graph for Greater Vancouver real estate shows the average price of Greater Vancouver homes, townhomes and condos.  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 it did between 2002 and 2008. Then it dropped about 20-25% and surpassed the highs of 2008  in late 2009/early 2010 when it decreased about 5% and has now surpassed that loss for houses. Townhouses are lower than the peak and condos flat. Read more

by Maggie Chandler Maggie Chandler 2 Comments

Top Three Reference Tips for Vancouver Condo Buyers

Before purchasing a Vancouver condo, educate yourself! Here are three reference points for you.
 
1) Condominium Manual by Mike Managan (lawyer) –Your comprehensive guide to strata law in British Columbia!
2) BC’s Strata Title Act – strata guide
3) Condo Homeowners Association of BC (COA) is a non profit association that promotes the understanding of strata title ownership and provides seminars. Formed in 1976.
Have another source you’d like to share with us?
 
when you’re ready to buy or sell vancouver real estate, contact an experienced condo realtor, Maggie Chandler, marketing vancouver homes since 1981
 
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by Maggie Chandler Maggie Chandler No Comments

Vancouver Real Estate Price Graphs November 2010

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Vancouver Reflections: Above are the November Vancouver (west side) real estate graphs  for houses, townhouses and condos. Dollar Volume for all three categories has levelled.  Listings for all categories continue to decline and are now equal to Feb/Mar this year.  Sales for houses are up, sales for townhomes and condos are flat, compared to a year ago. House prices are higher than a year ago, whilst townhomes and condos are flat. Read more

by Maggie Chandler Maggie Chandler No Comments

777 Things to do in Vancouver, BC

#5 of 777 Things to Do in Vancouver, BC

Viva Suites is a luxury furnished accommodation property centrally located in Downtown Vancouver where the West End and Yaletown meet. Minutes away from restaurants, nightlife, English Bay and Granville Island, the location is perfect.

Viva Suites specializes in stays of 7 nights or longer and features some of the largest suites in Downtown. The 18 fully furnished suites range in size from 1 Bedroom, 2 Bedroom, 3 Bedroom, a 4 Bedroom and a 4000 sq.ft. 6 Bedroom Suite! With Full kitchens, in suite laundry and heated marble floors in each spacious suite, they are ideal for extended stays for one person, or for a whole family and their friends. All suites include parking, housekeeping, local phone calls with voice mail and wireless internet access. Most all of the suites have huge balconies and pull out sofa beds as well.

Whether you are in town for business, relocating to the city, in between homes, have family visiting or undergoing renovations, Viva is the place for you! To top it all off, all guests of Viva Suites are welcomed to their suite with a welcome gift basket made just for them.

Contact Amy Elderkin   Toll Free: 1 (800) 375-2185 Direct: (604)691-1710

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by Maggie Chandler Maggie Chandler No Comments

BC House Market Improves from Summer

The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province climbed 20 per cent in November from October 2010, on a seasonally adjusted basis. Compared to November of last year, MLS® residential unit sales were down 21 per cent to 5,647 units. The average MLS® residential price rose 9 per cent to $523,394 in November compared to the same month last year.

Improved economic conditions and low mortgage interest rates have contributed to a 46 per cent increase in home sales since July,” said Cameron Muir, BCREA Chief Economist. Employment in BC eclipsed the July 2008 record by 2,600 jobs last month, while the unemployment rate dipped to 6.9 per cent, the lowest recorded since January 2009.

“The inventory of homes for sale has trended lower since last spring, improving market conditions in many areas of the province,” added Muir. Vancouver and Victoria climbed back into balanced market conditions in last month. Read more

by Maggie Chandler Maggie Chandler No Comments

Vancouver Real Estate on Bayshore Drive Grinds to a Halt

November saw  no sales on Bayshore Drive, in Vancouver’s Coal Harbour. Currently listings are down to 24 and 11 of those have had their list price reduced. Three condos were de-listed. Prices range from $624,000 for 877 sf to $4.1M Penthouse with 2500sf.  Only 5 listings under $1M. July and September were 2010’s best months for this waterfront neighbourhood.  Perhaps ome good buying opportunities, if you find the right motivated seller.

2010 Solds – jan  2, feb 4 , mar 3 , apr4  , may 2 , jun 0 , jul 5 , aug 3  , sept 5  , oct 2, nov 0  

2010 Sales – 32  Eleven under $1M, 19 between $1M and $2M and two over $2M. Average days on market 65. Average $psf 860. Sale price to list price ratio 95%. Read more

by Maggie Chandler Maggie Chandler 2 Comments

Vancouver Real Estate Prices

Vancouver real estate prices  for November (vs. October) saw the waterfront condo neighbourhoods of coal harbour, downtown, false creek north, fairview, kitsilano, olympic village and the west end all with fewer listings and more sales, an increase in theaverage  days on the market for sold properties, and a  slight softening of the average sale price to list price ratio.

The below tables show Fairview to be the best buy for Vancouvr condos, based on a $ pr sq ft., coming in at $576. Closely followed by the West End at $586psf, Olympic Village resales at $589psf, Kits at $608psf, Downtown at $624psf, False Creek North at $710psf and Coal Harbour being the most expesnive at $959psf. The stats are based on all sales published by REBGV’s MLS for the month of November. Read more

by Maggie Chandler Maggie Chandler No Comments

Three 3 Tips to get a Great Deal When Buying Vancouver Real Estate

1. Have your realtor send you a list of properties that are about to expire.  Your realtor will be able to email you a list of properties in your neighbourhood that meet your price criteria where the listing contract will end in seven days.

2. Zoom in on the properties that have had one or more price reduction. Motivated sellers who are committed to selling their property do not always list it at the right price initially, but  will come to grips with the fact that the market is not as high as they’d like it to be and will reduce the list price, sometimes more than once, in order to find a buyer. In a buyer’s market it is a waste of time making an offer on a property that is priced above the current value, as it is in indication that the seller is not prepared to sell it as current market value. Read more

by Maggie Chandler Maggie Chandler No Comments

Greater Vancouver Real Estate Sales up, Listings Down in November

From REBGV

Greater Vancouver residential home sales improved in November compared to the previous four months, with the number of sales posted on the Multiple Listing Service® (MLS®) coming in slightly higher than the 10-year average for that month.

The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totalled 2,509 in November 2010. This represents a 7.4 per cent increase compared to October 2010 and an 18.6 per cent decline from the 3,083 sales in November 2009. Read more

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