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Month: May 2011

by Maggie Chandler Maggie Chandler No Comments

Vancouver Average Price for Condos

Taking a look at May condo sales for Vancouver west side shows an equal number of one and two bedrooms selling.

One bedrooms move slightly quicker than the two bedrooms and as is to be expected they sell at a lower $psf

Compared to April, the one bedroom Vancouver condos have increased in average price and $psf but the two bedroom Vancouver condos have decreased.

One Bedrooms

  • 101 sales published to date
  • average sale price $426,425 (vs. $403,634 in April)
  • days on market 29
  • average $psf 633 (vs. 619 in April)

Two Bedrooms

  • 104 sales published to date
  • days on market 34
  • average sale price $704,232 (vs. $795,804 in April)
  • $psf 676 (vs. 706 in April)

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by Maggie Chandler Maggie Chandler No Comments

B.C. To serve up Restaurant Reform – Vancouver Real Estate

When Mike de Jong sits down in a restaurant, he wants to know how many calories he’s about to eat.

“Contrary to what people might think when they look at me, yes,” B.C.’s new health minister jokes before launching into the “lifestyle” menu choice of seafood fusilli containing 590 calories, eight grams of fat, and 900 milligrams of sodium at White Spot in Victoria.

“Most of the people I know, when they look at a menu, would prefer to know with some certainty that the choice they’re making is a healthy choice.”

It is only common sense.

In the absence of legislation requiring restaurants to post the nutritional value of menu items, however, customers are largely left to guess at the number of calories or amount of sodium in their order.

We are what we eat!

Posted on Vancouver Real Estate-Vancouver Homes For Sale

by Maggie Chandler Maggie Chandler No Comments

Understanding Window Wall Systems When you Buy a Vancouver Condo

Courtesy Douville & Co – Home Inspectors

A window wall system is an assembly of stacking windows, spandrel panels and aluminium frame components that are mounted on the outward slab edge and fit between concrete floor slabs.

Early generation window wall systems suffer from a  number of problems, the most significant of which is poor long-term performance. Leakage potential is increased by the complication of joining the many sections necessary for a window wall system, and the attendant difficulties of making weathertight seals to the many joints. The length of time that it takes for the assembly to breakdown depends on the maintenance, environment and specifics of the installation. Read more

by Maggie Chandler Maggie Chandler No Comments

BC Home Sales Dropped 16.43% in April 2011

This is a great graph and shows the monthly sales in BC since January 2010.

Courtesy of Buy RIC.com.

Click to view the below graphs

April’s sales are at the same level at March 2010.

March 2011 saw the highest number of sales from Jan’10 to April’11.

Dec’10/Jan’11 had the lowest number of sales.

Average MLS Residential Price is sloooowly edging up.

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by Maggie Chandler Maggie Chandler No Comments

Five Most Expensive Vancouver Condo Sales

We hear a lot about the most expensive Vancouver homes that are selling to Mainland Chinese. But what about condos?

If you had $5M to spend on a real estate investment or home, would you buy a house or a condo?

The top most expensive condo sales published on MLS are, of course, in Vancouver west side. Three of the five were Penthouses…hardly surprising.

Three are in Coal Harbour, one Downtown and one in the West End.

Would you expect 2011 to have the most expensive sale? Wrong! It was 2005. The Shangri-la Penthouse sold for $7.4M as a pre-sale. 5000sf. Read more

by Maggie Chandler Maggie Chandler No Comments

BC economic snapshot – Vancouver Homes for Sale

Consumer bankruptcy filings in British Columbia remained steady in March. Based on data adapted from the Office of the Superintendent of Bankruptcy, seasonally-adjusted filings edged down to 701 in March, down 1.6 per cent from February. Following a rise in the final quarter of 2010, the downward trend observed since mid-2009 has been re-established.

Despite the general downtrend in filings, consumer bankruptcy levels remain elevated by historical comparison and are comparable to peaks levels observed from 2001 to 2002. However, relative to the size of the working-age population, bankruptcy filings hover at about 19 per 100,000 working-age individuals and are trending lower. During the previous peak, this figure was closer to 25 per 100,000 working-age individuals.

The graph is heading in the right direction.

Posted on Vancouver Real Estate-Vancouver Homes For Sale

by Maggie Chandler Maggie Chandler No Comments

Vancouver Real Estate News – Trapper kills wolf-dog on Bowen Island that ate pets

A wolf-dog that devoured cats, dogs, chickens, sheep, deer, a swan and snatched a gosling from a backyard pond while striking fear into residents of this bucolic island off the coast of West Vancouver has finally been killed.

It took the handiwork of trapper Allan Starkey to bring a collective sigh of relief to the community that had been under threat by the predator since it was spotted in the bush last December.

Earlier this week, Starkey, 72, lured the animal with deer and sheep meat and scents for wolves and coyotes.

“I waited for her and that was it, game over,” said Starkey, who shot the animal in the head on Thursday.

“Instant kill, right through the brain. There was no suffering, it just collapsed right there.”

Lucky we live in the City!

Posted on Vancouver Real Estate-Vancouver Homes For Sale

by Maggie Chandler Maggie Chandler No Comments

Shell Considers B.C. Coast for new LNG terminal- Real Estate News in Vancouver

 
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Shell says it’s looking at B.C. Coast for new LNG terminal

 
 
 
 
 
Shell says it’s looking at B.C. Coast for new LNG terminal.
 

Shell says it’s looking at B.C. Coast for new LNG terminal.

Photograph by: Leon Neal, AFP/Getty Images

Shell Canada says it is investigating the potential for a new liquid natural gas terminal to be located on the B.C. coast.

Shell “is interested in, and currently exploring LNG opportunities along the B.C. coast,” Stephen Doolan, of Shell’s media relations department said in an email to The Sun.

“We are early in the evaluation process so do not have specific details but are pursuing opportunities,” he said. “Natural gas is a key area of growth for Shell. In terms of LNG, we will continue to invest in our global leadership position as demand continues to grow.”

Doolan was responding to a queries from The Sun after references to Shell’s interest in the B.C. coast appeared in several trade journals and research reports. Those reports said Shell was in talks with Korea Gas over the feasibility of a terminal at Prince Rupert.

Revenue for the Province

Posted on Vancouver Real Estate-Vancouver Homes For Sale

by Maggie Chandler Maggie Chandler No Comments

Immigration policy a drain on Canada – Vancouver Real Estate News

As Jock Finlayson of the Business Council of BC noted in a recent Sun commentary, Metro Vancouver’s Regional Growth Strategy fails to address the fact that we are a relatively low-income urban region despite having the most expensive housing in Canada. One of the factors he cites as the cause for this poor showing is our high immigration intake combined with the low median incomes of new Canadians. Finlayson points out that although immigration will increase the population of Metro Vancouver by more than a million people by 2030, the regional growth strategy will be of little use in terms of providing housing and finding jobs for the newcomers.

Finlayson’s concerns are, indeed, fully justified if one looks at the results of a study released on May 18 by the Fraser Institute. It found that the weak economic performance of recent immigrants is costing Canadian taxpayers between $16.3 billion and $23.6 billion a year. Using Canadian census data, economists Herbert Grubel and Patrick Grady calculated that this is what it costs Canadians because of what newcomers receive in government benefits over what they pay in taxes.

The question one must ask in the circumstances is: Why are we going to bring another million immigrants into the Vancouver area and who is going to benefit from having them here?

Professor George Borjas of Harvard, one of the pre-eminent experts on the economics of immigration in the United States, pointed out that there are winners and losers when it comes to large-scale immigration such as what we are experiencing in Vancouver. Winners obviously include employers looking for a large pool of inexpensive labour, real estate developers, immigration lawyers and organizations that receive government funding to help in the settlement of newcomers. Losers are Canadian workers and residents of Vancouver in general, including immigrants who have already arrived. Homeowners also benefit from the appreciation of the value of their homes while those who rent or are buying a home for the first time lose.

The pros and cons of big immigration

Posted on Vancouver Real Estate-Vancouver Homes For Sale

by Maggie Chandler Maggie Chandler No Comments

OPEN SAT 12-1PM – 1135 Homer, Vancouver, BC

Live the Yaletown Lifestyle! Enjoy a 98 Walkscore when you leave home at H&H.

No need to wait for the elevator because you’ll be living in a townhome with your own front door and patio for the bbq.

Drop by tomorrow and view this squeaky clean, like new, 2 level townhome featuring 2 bedrooms, 2 1/2 baths and an amazing gourmet kitchen with high end appliances.

Sharply priced at $649,000

View the listing

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by Maggie Chandler Maggie Chandler No Comments

Busting the myths of Vancouver real estate

Vancouver: Not really as unaffordable as you think it is.

Also not being bought up by wealthy offshore buyers from China who are speculating on real estate.

That’s the anti-conventional-wisdom message that the city’s best-known marketing guru, Bob Rennie, is promoting, with numbers to back him up.

Mr. Rennie, who commissions research on real-estate trends for an annual talk to the industry, said that once the skewed prices paid by a small group of mostly mainland Chinese buyers in Richmond and the west side of Vancouver are removed, housing prices are comparatively reasonable.

As well, the numbers indicate that only about 1 per cent of those high-end buyers are non-resident investors.

“When you’re looking at the numbers, you have to build a fence around the west side, where there are external forces operating that have nothing to do with local forces,” Mr. Rennie said.

Yes, he said, the sale prices on those houses have increased dramatically in the past year.

Posted on Vancouver Real Estate-Vancouver Homes For Sale

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by Maggie Chandler Maggie Chandler No Comments

250,000 New Immiagrants to Canada in 2011 Equals Sustained Demaind for Vancouver Real Estate

The government of Canada plans to maintain high immigration levels to help sustain the economic recovery.

Citizenship and Immigration Canada (CIC) estimates that they will welcome between 240,000 and 265,000 new permanent residents in 2011. 60 percent of these are expected to be immigrants who arrive in Canada on skilled immigration visas.

“Canada’s post-recession economy demands a high level of legal immigration to keep our work force strong,” said Immigration Minister Jason Kenney.

While a greater portion of immigration into Canada is expected to be via economic immigration streams, Kenney noted that other immigration routes are important for Canada as well.

Posted on Vancouver Real Estate-Vancouver Homes For Sale

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by Maggie Chandler Maggie Chandler No Comments

OPEN SAT 2-4 204-1315 Cardero, West End, Vancouver, BC

Drop by my Open House May 28th, 2-4.

Welcome home to Dianne Court!

Don’t miss out on this beautifully updated one bedroom, steps to Beach Avenue in a concrete building.

Featuring hardwood floors, a spacious balcony and facing east. 620sf and very well laid out. Nothing to do, just move in.

The Building is in top condition.

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Adult oriented and a perfect place to call home or to purchase as a pied a terre! Read more

by Maggie Chandler Maggie Chandler No Comments

The Townhouse finds Big New Appeal – Vancouver Homes for Sale

Let’s hear it for the townhouse. For those buyers who are looking for something a bit more roomy than the standard shoebox-sized Vancouver condo but who find themselves priced out of the single-family-house market, the townhouse is often the happy middle ground. It offers more indoor and outdoor space plus your very own front door, but without the price tag of a detached house on a lot.

New developments seem to be popping up everywhere. For instance, stroll through the East Van neighbourhood of Cedar Cottage and you’ll notice townhome and row-house projects like the Works, Stories, and Brix beginning to dominate the streetscapes. Read more

by Maggie Chandler Maggie Chandler No Comments

Save the Century-old West End tulip tree – Vancouver Real Estate News

Vancouver’s century-old tulip tree could be saved after all from a developer’s chainsaw.

That is if councillors seize what appears to be the game-changing opportunity provided to them by Shaun Wong.

Wong and his family own 1225 Harwood Street, the property adjacent to 1245 Harwood Street, where the more than 100-year-old tulip tree is located.

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Forty percent of the tulip tree’s root bulb is at 1225 Harwood Street, and according to staff, the property owners did not make a commitment to help protect the tree.

Save the heritage tree!

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Posted on Vancouver Real Estate-Vancouver Homes For Sale

by Maggie Chandler Maggie Chandler No Comments

Vancouver Real Estate Market Update for Downtown Condos

Vancouver's False Creek North

Dreaming of buying your Downtown Vancouver condo? Let’s take a look at what’s selling this month.

May stats to date show more one bedroom condo sales than two bedrooms and one bedrooms getting a higher $psf . No action for condos over $1M and the lions share of the sales are under $500,000.

One Bedrooms

  • 51 sales
  • 30  days on the market
  • sellers moving an average of 2% off list price
  • average sale price $410,590
  • average $psf  655 Read more

by Maggie Chandler Maggie Chandler No Comments

Will the UBC Hospice Be Built? Vancouver Real Estate Update

Dozens of people turned out at UBC for an information session on that proposed hospice at the University.

It sparked controversy earlier this year when some members of the Chinese community said they didn’t want to live near dieing people, “I think the peak of the controversy’s blown over. I think there’s a better understanding. I think consensus and concern is not about everyone being, getting a unanimous vote but something you can live with.”

Will the neighbouring Chinese homeowners prevent the hospice from being built or will the neighbouhood get one?

Posted on Vancouver Real Estate-Vancouver Homes For Sale

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