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Month: December 2011

by Maggie Chandler Maggie Chandler No Comments

How is the Vancouver Real Estate Market in False Creek?

How’s the real estate market in False Creek and the Olympic Village neighbourhood? Are prices up or down? What’s the average price? What’s the average days on the market? Is this area good value for waterfront property? Listings continue to rise, delivering a strong buyers market.

Generally developers do not list all their pre-sales on MLS and only some of the Olympic Village condos are listed on MLS, so I cannot keep track of those for you.

The inventory in this neighbourhood is increasing, due to the number of new buildings that are preselling and the olympic village condos. Read more

by Maggie Chandler Maggie Chandler No Comments

Modest growth in 2012 for Vancouver Real Estate Prices

After surprising growth in 2011, Greater Vancouver real estate prices will rise just two per cent in 2102, Canada Mortgage and Housing is forecasting.

In 2011, CHMC predicted price growth of just three per cent, tempered by an expectation of higher interest rates, but interest rates stayed low and prices ultimately jumped 16 to 17 per cent.

In 2012, the market will stabilize and show modest growth in line with inflation, said Robyn Adamache, senior market analyst with CMHC in Vancouver.

“I’d say it’s a pretty stable market out there. We’re not expecting to see a lot of change going forward,” Adamache Thursday said in an interview. “We have seen the market moving to more balanced conditions over the past five or six months, and that’s expected to continue.”

She said job growth and migration, including people from within Canada and immigrants, are the factors driving the housing market, and they should continue.

We are lucky to only have a balanced market

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by Maggie Chandler Maggie Chandler No Comments

How is the Vancouver Real Estate Market in the West End?

How’s the market in Vancouver’s waterfront neighbourhood of the West End? Are prices up or down? What’s the average days on market? What’s the average sale price? Are listings rising or falling? Are the prices higher than a year ago?

November saw a decrease listings and sales

resulting in a well balanced market.  70% of the sales were under $500,000, favouring lower end sellers. In general, Sellers need to be priced no more than 4% above market value in order to attract an offer. Read more

by Maggie Chandler Maggie Chandler No Comments

What (New) Homes Will Look Like in 2015 – Vancouver Homes for Sale

If you had asked someone in the 1960s what the home of 2015 would look like, chances are they imagined something akin to The Jetsons’ home complete with Rosie the Robot and other space-age appliances that dressed and fed the family.

But, rather than space-age technology, the biggest thing that is expected to change in future single-family homes is the size.

Homes will get smaller,” says Stephen Melman, Director of Economic Services at the National Association of Home Builders (NAHB) in Washington D.C. “We asked builders, ‘what do you anticipate the new home size would be by 2015?’ “

According to the results of the study, surveyed home builders expect new single-family homes to check in at an average of 2,150 square feet. Current single family homes measure around 2,400 square feet, which is already a decrease from the peak home size in 2007 of 2,521.

Given the current economic conditions, smaller homes are not surprising

Posted on Vancouver Real Estate-Vancouver Homes For Sale

by Maggie Chandler Maggie Chandler No Comments

Is It True Love? Vancouver Homes for Sale

Is It True Love? How to Know When You’ve Found the Right House for You

There are some things in life that you just know once you’ve found them: When you fall in love. When you’re ready to get married. When you want to start a family. When you’ve found the home in which you want to raise that family. Unfortunately, this isn’t always the case. Though you may have that instinctual, gut reaction when you tour a house and suddenly know that it will be your future home, you may also be one of the many who find yourself debating the pros and cons and facing anxiety and uncertainty about committing yourself to the right choice. If you find yourself waffling over your array of choices, consider the following to determine which is the right house for you: Read more

by Maggie Chandler Maggie Chandler No Comments

How is the Vancouver Real Estate Market in Yaletown?

How is the Vancouver real estate market in Yaletown? Are sales up or down? Have listings increased? What’s the average price? How long does it take to sell a Yaletown property? What are prices doing? Are they higher or lower than 90 days ago? What price range is selling the best?

The Yaletown market in November saw a big drop in listings and sales flat, compared to October

  • 32% of the sales were under $500,000
  • The supply dropped by a whopping 25%, now only 3 months of inventory and a tick up in average price
  • market favours sellers who are properly priced. The new year will see an uptick in listings Read more

by Maggie Chandler Maggie Chandler No Comments

How is the Vancouver Real Estate Market in Kitsilano?

How’s the market in Vancouver’s waterfront neighbourhood of Kitsilano? Are prices up or down? What’s the average days on market? What’s the average sale price? Are listings rising or falling

November saw listings and sales down

50% of the sales were under $500,000. 45% between $500,000 and $900,000 –  favouring lower end sellers. In general, Sellers need to be priced no more than 2% above market value in order to attract an offer. Read more

by Maggie Chandler Maggie Chandler No Comments

How is the Vancouver Real Estate Market in Fairview?

How’s the real estate market in Vancouver’s Fairview? Are prices up or down? What’s selling best? What’s the average sale price? What’s the days on the market? Are prices higher than a year ago?

Novemberer 2011 saw listings down, sales up, average price down and inventory decreased to 3 months.

What’s It Cost To Buy Fairview Real Estate?

You can buy a studio condo from $260,000. A one bedroom condo from $300,000 and a 2 bedroom condo from $459,000.

Fairview also offers one bedroom townhomes from $355,000 and 2 bedroom townhomes from $420,000 and 3 bdrms from $900,000. Read more

by Maggie Chandler Maggie Chandler No Comments

Demand for smoke-free housing on the rise in Metro Vancouver – Vancouver Real Estate News

California’s Sonoma County is going to be the envy of Lower Mainland residents who have to put up with the secondhand smoke of their neighbours.

Starting on May 10 next year, all new multi-unit residences in the county will be smoke-free. Then, as of January 12, 2013, the ban will extend to all existing multiple-dwelling units like apartments and condos.

While Sonoma’s smoking prohibition may appear to be too ambitious for Canadian jurisdictions, a more modest approach could work.

Vision Vancouver’s Tim Stevenson is open to the idea that future multi-unit premises should be completely smoke-free.

“Even the people who smoke say if they try to live together, it’s so much smoke, they’re practically choking to death on each other’s smoke,” Stevenson said in a phone interview with the Georgia Straight.

However, the four-term councillor also noted that he’s concerned about how this measure would impact a certain sector of the city’s population. Having served on the board of the First United Church, he has seen how cigarettes are important to many Downtown Eastside residents dealing with addictions and mental illness

What do you think?

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by Maggie Chandler Maggie Chandler No Comments

BC Home Sales Same as A Year Ago

The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential unit sales in the province remained relatively unchanged in November compared to the same month last year. A total of 5,640 units were sold last month compared to 5,647 units in November 2010. The average MLS® residential price was up 1.1 per cent to $529,140 in November compared to the same month last year.

“BC home sales continued to gain ground in November,” said Cameron Muir, BCREA Chief Economist. “After waning during the first half of the year, consumer demand has steadily increased since the summer months, bringing home sales within seven units of the November 2010 level.”

“Low mortgage interest rates remain a key driver in the housing market, helping to maintain affordability and purchasing power,” added Muir.

Year-to-date, BC residential sales dollar volume increased 15.5 per cent to $41 billion, compared to the same period last year. Residential unit sales increased 3.2 per cent to 72,632 units, while the average MLS® residential price rose 11.9 per cent to $563,991 over the same period.

by Maggie Chandler Maggie Chandler No Comments

How is the Coal Harbour Real Estate Market? Vancouver Condos for Sale

bayshore drive

How’s the market in Vancouver’s waterfront neighbourhood of Coal Harbour? Are prices up or down? How long does it take to sell a Coal Harbour condo or townhouse? What’s the average sale price? Are listings increasing or decreasing? Is it a Buyers or Sellers market? Search for luxury coal harbour homes, find home values, local real estate news.

November sales were up a tad and listings down , the condo market over $1M accounted for nearly 40% of the Coal Harbour condo sales. This exquisite waterfront neighbourhood saw listings flat, resulting in a strong buyers market. Buyers! come out, come out wherever you are! Find the motivated sellers and get a good deal! Ask me how!

March this year was the best month for the real estate market in Coal Harbour since I started tracking the stats in 2008.

The Stats (vs. previous month)

  • Listings 158 ( 181)
  • Sales 18 (16)
  • Days on market 62 (51)
  • Sale price to list price ratio 94% (96%)
  • Average sale price $1,052,527 ( $1,366,125)
  • sale price psf – 855 (894)
  • 8.7 months of inventory (11)

What’s Selling?

  • 23% of the sales were under $500,00
  • 48% between $500k and $1M
  • 28% sold between $1M & $2M
  • 1%over $2M

How’s the market over the last 90 day?

Listings and sales are lower than August – which is normal

How’s the market over the last year?

  • Sales are lower than a year ago
  • HPI is up -2.1%

Most and Least Expensive

Live in a small one bedroom for $350,000! Or in 2600sf on the waterfront for $5M

Buying or Selling Coal Harbour Real Estate?

  • I come armed with stats and graphs
  • hyperlocal info
  • educate you about the market and the process
  • excellent interpersonal skills
  • all coupled with decades of experience as a top vancouver realtor

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by Maggie Chandler Maggie Chandler No Comments

Chinese buyers return to B.C.Lumber as Prices Rise – Homes for Sale in Vancouver

After a brief lull this fall, China is back buying B.C. lumber, pushing up prices for construction lumber North America-wide.

“They are definitely back,” Chris McIver, West Fraser Timber vice-president of lumber sales said in an interview. “They needed to correct their inventory and I think that took less time than most of us expected.”

After breaking records, earlier in the year, lumber sales to China dropped in July when Chinese buyers cut back on purchases. Tighter monetary policy in China — aimed at taking some of the pressure off China’s housing bubble — made it more difficult for lumber importers to obtain letters of credit during the third and fourth quarters. Also a surplus of new homes created some pricing uncertainty. As a result, log and lumber inventories began building on the docks of Chinese ports.

However, with the Lunar New Year approaching, importers have begun rebuilding their by-now depleted inventories to be ready once the holiday is over, said McIver.

This will help BC’s economy be one of the best in Canada in 2012

Posted on Vancouver Real Estate-Vancouver Homes For Sale

by Maggie Chandler Maggie Chandler No Comments

London Penthouse Said to Sell for About $157 Million – Vancouver Real Estate News

Dec. 20 (Bloomberg) — A penthouse apartment in London’s Knightsbridge neighborhood was purchased for about 100 million pounds ($157 million), a person with knowledge of the transaction said.

The undisclosed buyer paid about 7,000 pounds a square foot for the unfurnished duplex in the Bulgari Hotel and Residences, according to the person, who requested anonymity because the deal was private. A second penthouse unit in the development is on the market for 69 million pounds, the person said.

London’s luxury-home values have accelerated this year as international investors seek a haven for their wealth in the city’s central neighborhoods, such as Belgravia, Knightsbridge and Mayfair. The hotel is setting a “new benchmark” for prime residential real estate as its location, link with luxury retailer Bulgari SpA and limited number of units helps boost prices, Giles Hannah, a Christie’s International Real Estate director handling the sale, said in a telephone interview.

Wow!

Posted on Vancouver Real Estate-Vancouver Homes For Sale

by Maggie Chandler Maggie Chandler No Comments

BC To Experience Slight Increase in Sales In 2012 – Vancouver Homes for Sale

The following report from CMHC bodes very well for Vancouver real estate in 2012. Buyers should feel confident to make an investment.

CMHC HOusing Outlook Conference predicts that the BC balanced housing market conditions experienced in 2011 will continue in 2012 with home sales rising from 77,200 to 81,900.

Greater Vancouver sales are expected to increase by 9% , from 33,000 sales in 2011 to 36,000 in 2012 and prices to increase at the rate of inflation.

Interest rates will remain stable and low Read more

by Maggie Chandler Maggie Chandler No Comments

Greater Vancouver Homes Sales Below 10 Year Average in November

The Greater Vancouver housing market saw relatively typical home sale and listing activity in November.

  • The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) reached 2,360 in November. This represents a 5.9 per cent decline compared to the 2,509 sales in November 2010 and a 1.9 per cent increase compared to the 2,317 sales recorded in October 2011.

Looking back further, last month’s residential sales total is 5.8 per cent below the ten-year average for sales in November.

“The pace of home listings entering the market eased slightly in November, compared to recent months, while sale levels remained fairly normal for this time of year,” Rosario Setticasi, REBGV president said. “November activity helped put our market firmly in balanced territory.” Read more

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