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Month: February 2011

by Maggie Chandler Maggie Chandler No Comments

777 Things to do in Vancouver, BC

bc home and garden show#8 of 777 Things to do in Vancouver, BC – BC’s annual Home and Garden Show runs from March 2-8/11

I love the home and garden show and i go every year, there’s so much to see and this year it’s at the new Convention Centre, which is very cool.

Tips and trends across Canada this year include design and decor, entertaining ideas, green tips, renovations and recipes. Click here to view any of the tips and trends

Looking for choice in a specific project? Wondering what’s out there? The Home Renovation Guide organizes its listings into categories, so it’s easy to see all the options that are available to you. View  the categories Read more

by Maggie Chandler Maggie Chandler No Comments

BC Home Sales and Prices to Climb in 2011

  1. The British Columbia Real Estate Association (BCREA) released its Housing Forecast for the first quarter of 2011 
  2. Residential sales are forecast to increase 8 per cent from 2010 and increase another 4 per cent to 83,950 units in 2012
  3. “British Columbia housing markets are returning to normalcy after two years of volatility,”said Cameron Muir, BCREA Chief Economist.
  4. “Employment and population growth will fuel consumer demand over the next two years.

Read more

by Maggie Chandler Maggie Chandler No Comments

BC Home Sales and Prices to Climb in 2011

  1. The British Columbia Real Estate Association (BCREA) released its Housing Forecast for the first quarter of 2011 
  2. Residential sales are forecast to increase 8 per cent from 2010 and increase another 4 per cent to 83,950 units in 2012
  3. “British Columbia housing markets are returning to normalcy after two years of volatility,”said Cameron Muir, BCREA Chief Economist.
  4. “Employment and population growth will fuel consumer demand over the next two years.

Read more

by Maggie Chandler Maggie Chandler No Comments

Wordless Wednesday

The Best Place on Earth! Beautiful BC! A balmy 12 degrees on February 7,2010. A view of Burrard street Bridge from False Creek.

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by Maggie Chandler Maggie Chandler No Comments

St. Paul’s Church, West End Vancouver

I was driving by the other day and thought the church looked rather smart – a new paint job perhaps. So I stopped and took a photo. It has the Heritiage designation on the front door and was designed a Gothic Revival Church.

by Maggie Chandler Maggie Chandler No Comments

What Defines a Buyer’s Market?

This is what Vancouver had between 1981 and 1987.

The Governemnt of Canada, in its infinite wisdom, decided to halt the inflation of the ’70s and raise interest rates to 20%.  The real estate market crashed and I mean crashed. By the time I got the listing contract back to the office the house was worth less! Homeowners had mortgages that exceeded the value of their homes, many declared bankruptcy.

A Buyer’s Market is when there are more homes for sale than there are buyers. Prices are dropping so buyers wait it out. In fact, many homes don’t sell when it’s a Buyer’s Market, they expire! It may take six moths, and many price reductions, to sell in a Buyer’s Market.

The Buyer has all the negotiating leverage.

It was a dismal time in Beautiful B.C. back in the early ’80’s and then along came Expo ’86. I remember many of my clients getting out of the market in ’86 because they thought the small ray of sunshine in the market that year would disappear after Expo. Those who bought in the hay-days of ’80 got to break even in ’87.

Unbeknown to us all, our very localised market was about to change forever. The Feds opened the doors to Hong Kong and Taiwan  immigration and the cash poured into the Province.

It was also a Buyer’s Market in Vancouver between ’94 and ’02 but nothing as bad as the one in the early ’80s.

 Immigration from Korea started in the late ’90s and currently (2010) Mainland China.

by Maggie Chandler Maggie Chandler No Comments

In Chinatown, Residents Group Rejects Proposed Condos

It’s taken the old Expos’86 lands about 15 years to be developed into a Downtown residential neighbourhood and few lots now remain.

As the Most Liveable City in the World looks for more sites, it is moving east and Chinatown is front and centre, as the City decides on Historic Area Heights Review, determining which buildings merit a heritage designation and which can be redeveloped into 15 storey hi-rises.

Of course, as progress marches on, there are those who embrace it and those who reject it. Read more

by Maggie Chandler Maggie Chandler No Comments

Vancouver, Toronto, Calgary Named Among the World’s Most Liveable Cities

For the fifth consecutive year Vancouver has been voted the World’s Most Liveable City by The Economist.  Melbourne pushed out Vienna for second place. 

The Ozzies claimed 5 cities in the Top Ten and Canada had 3. Vienna and Helsinki filled the remaining two spots.

Rankings are based on a combination of health care, stability, culture, environment, education and infrastructure.

Are you surprised? Is it really the Best Place on Earth? No doubt this has a positive impact on Vancouver real estate buyers. Read more

by Maggie Chandler Maggie Chandler No Comments

Vancouver’s Luxury Condo Market Rocks in 2010

                                                                                      

coal harbour views

  • Vancouver luxury condo sales (above $2M) in 2010 was about the best year ever with 82 sales.
  •  2009 had 84
  • 2008 had 47
  • 2007 had 62

2010 had 6 sales above $5M including 3 in shangri-la and 2 in Fairmont rim Estates

  •  Average days on market for solds was 83
  • Sellers moved an average of 9% from list price
  • Average sale price – $1,280,000
  • Best selling neighbourhoods? Coal Harbour and False Creek North
  • Best month? May and November.
  • Worst month? January, July, August and December Read more

by Maggie Chandler Maggie Chandler No Comments

New Listing! Coal Harbour 2 Bedroom & Den

909-1239 West Georgia Street, Vancouver, BC V6E 4R8. Welcome home to Venus! Live the Coal Harbour lifestyle! Steps to the waterfront and seawall!

Enjoy the partial water and mountain views from this northeast corner 2-bedroom and den with separated bedrooms, offering an excellent floor plan, 9′ ceilings, floor-to-ceiling windows, new stainless steel appliances. Double sided fireplace.

 Concierge, indoor pool, gym, sauna, swirlpool, party room, business centre, 2 guest suites, visitor parking. Double sided fireplace & insuite laundry. W. Pets & rentals friendly. Read more

by Maggie Chandler Maggie Chandler No Comments

Wordless Wednesdays

The view from Vancouver’s Granville Island, looking across False Creek to the waterfront condos at the bottom of Howe and Hornby

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by Maggie Chandler Maggie Chandler No Comments

BC Home Sales Climb in January

BCREA report that the real estate market in the Lower Mainalnd and South Coast remain balanced , whilse the Kootenays and Okanagan remain a buyer’s market.

January sales were up 7% from December but down 10% from a year ago. The average price rose 11.5% to $548,183 compared to Jan’09.

The average MLS® residential price rose 11.5 per cent to $548,183 in January compared to the same month last year.

“Consumer demand continues to normalize alongside overall economic conditions,” said Cameron Muir, BCREA Chief Economist. “However, the pace of growth in home sales experienced since last summer is likely to moderate in the coming months as tighter credit conditions and upward pressure on mortgage interest rates impacts affordability and purchasing power.”

The inventory of homes for sale remained below 47,000 units for the third consecutive month in January, down 14 per cent from the spring of last year. Read more

by Maggie Chandler Maggie Chandler No Comments

What do Vancouver Home Buyers Want Most?

I’ll guess that the answer for most potential buyers would be “a drop in price”! Right?

But on a more serious note, accofding to the National Association of Realtors, online buyers value the following real estate  information the most:

Photos (86%)
Detailed Property Information (84%)
Virtual Tours (68%)
Agent Contact Information (45%)
Neighborhood Information (44%)
Interactive Maps (43%) Read more

by Maggie Chandler Maggie Chandler No Comments

Vancouver Real Estate Analysis for West End – January 2011

Vancouver real estate analysis for the West End in january 2011, saws  listings at 173  and sales at 49 , resulting in a tight market with 3.5 months of inventory.

Average days on market for solds was 47.

A whopping 73% of the sales were under $500,000.

Sellers moved an average of 3% from their list price.

Average sold price $550,586 and $622 was the average $psf

Over the last 90 days the listings have been trending down and the sales were flat in Nov and Dec and increased 20% in January. Read more

by Maggie Chandler Maggie Chandler No Comments

Vancouver’s Olympic Village Plans Deep-Discount Condo Sale

Unlike Whistler, Vancouver’s Olympic Village condos have had a rough ride – poor sales, receivership, controversy over subsidised housing in this expensive waterfront neighbourhood and the Vancouver taxpayer being left on the hook.

 The condos were pulled off the market last Fall when Millenium Water, the developer, went into receivership. The City also has been criticezed for overpricing the condos and is owed $783 million for the Village.

I will be attending a relaunch on February 17th and will publish an updated post at that time. Sales start March 5th and the presentation centre is now open for pre-viewing. Read more

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