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Month: February 2012

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?

January saw listings spike and sales flat

Majority of the condos that sold were still under $500,000, favouring lower end sellers. In general, Sellers need to be priced no more than 3% above market value in order to attract an offer.A good market for buyers.

How is the Market Compared to a Year Ago?

The Stats (vs previous month)

  • listings 212 (165)
  • sales 22 (21)
  • average days on market for solds 44 (62)
  • sellers moved  an average of 3 % off their list price (5%)
  • average sale price $831,457 ($533,676)
  • average $psf  695 ($533)
  • best selling price range is under $500,000
  • Supply is 9.6  months (7.8)

How is the Market Compared to 90 Days Ago?

listings and sales are now lower

What does it Cost Me to Buy in the West End?

The West End offers 2 bedroom towhomes from $550,000,  studio condos from low $200,000 ,one bedroom condos from $280,000 and 2 bedrooms from $480,000.

What’s the Best Selling Price Range?

  • Under $500,000 – 60%
  • Over $1M – 25%

Buying or Selling?

in one of Vancouver’s oldest and most historic  neighbourhoods bordered by Stanley Park, English Bay and DowntownVancouver? . Keep up to date with Vancouver’s real estate news,search for homes. Review the entireBuying and Selling Process.

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by Maggie Chandler Maggie Chandler No Comments

Toronto and Vancouver Remain Chinese Investors Top Picks

If you thought Chinese investors were starting to lose interest in Canadian real estate, think again.

According to a new report, both Vancouver and Toronto are forecast to be this year`s most popular destinations for Chinese overseas property investment.

“Buying sentiment for overseas properties among Chinese mainland investors has been gaining strong momentum over the past few years,” said Derek Lai, director of international properties for Colliers International real estate services — the author of the report. “To date, about 20 percent to 40 percent of the foreign property investors in these … destinations are from the Chinese mainland.”

The report goes on to cite Vancouver`s Chinese population — what it pegs as 30 percent of city residents — as one of the driving factors for that investment choice.

Mainland Chinese investors are also lured by the Lower Mainland`s educational opportunities and proximity to home, according to Colliers.

We didn’t see a Chinese New Year buying spree this month

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by Maggie Chandler Maggie Chandler No Comments

BC Commercial Real Estate Section Looking Positive for 2012

The BCREA Commercial Leading Indicator (CLI) rose for the second consecutive quarter, advancing 1.1 points to an index level of 111. On a fourth-quarter over fourth-quarter basis, the CLI moved 1.6 per cent higher in 2011. While this is a marked slowing from the 5.2 per cent surge in 2010, the index picked up considerable momentum in the third and fourth quarter of the year, more than making up for a weak first half of 2011.

The trend in the CLI turned up slightly as early softness in economic activity was smoothed out by a stronger second half of the year. This change in trend indicates a positive economic environment for the BC commercial real estate sector in 2012.

“Improving economic data provided a strong tailwind for the CLI in the second half of 2011,” said Brendon Ogmundson, BCREA Economist. “However, growing anxiety surrounding the global economy could constrain the economic environment for commercial real estate this year.”

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by Maggie Chandler Maggie Chandler No Comments

Are Vancouver Real Estate Sales Higher Than 2009?

What’s the volume of real estate sales for Vancouver west side over the last three years? See if the number of solds have increased or decreased on an annual basis since February 2009. View the sales for homes, townhomes and condos and see if they had an increase or decrease

Sales for Vancouver West

View my other graphs for Vancouver homes

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by Maggie Chandler Maggie Chandler No Comments

How Is Vancouver’s Downtown Eastside Gentrification Tied to the Mayor and Developers?

In the poorest urban neighbourhood in Canada, Vancouver’s Downtown Eastside (DTES), gentrification has been on the move for decades. Plotting these new developments on a map of the DTES and walking along the now unfamiliar streets reveals gentrification for what it is: a form of structural violence.

Gentrification is the social, economic, and cultural transformation of a predominantly low-income neighbourhood through the deliberate influx of upscale residential and commercial development. Encouraged by municipal development policies, economic incentives for investors, and the mythical pull of the creative city, urban land is purchased and developed at low cost for middle-class buyers. As urban theorist Neil Smith writes, “As a generalized urban strategy, gentrification weaves together the interests of city managers, developers and landlords, corporate employers and cultural and educational institutions.”

If Vancouver’s Mayor benefits from real estate developers, is that why rezoning permits seem to favour the developers over the community?

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by Maggie Chandler Maggie Chandler No Comments

Are Vancouver Real Estate Listings Higher Than 2009?

What’s the number of real estate homes for sale in Vancouver west side over the last three years? See if the number of listings have increased or decreased on an annual basis since February 2009.

View the sales for homes, townhomes and condos and see if they had an increase or decrease

Total Inventory for Vancouver West

View my other graphs for Vancouver homes

BUYING OR SELLING VANCOUVER REAL ESTATE?

  • i come armed with stats and graphs
  • hyperlocal info
  • strong interpersonal skills
  • all coupled with decades of experience
  • contact me today!

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by Maggie Chandler Maggie Chandler No Comments

Vancouver’s Heather Place may be Rezoned – Real Estate Update in Vancouver

Tenants at Heather Place must be anxious. The place they call home on the west side of Vancouver could be gone, as they know it now, in a few years.

One of the more than 50 rental sites owned by the Metro Vancouver Housing Corporation, the two-acre townhouse complex bounded by Heather and Willow streets and West 13th and West 14th avenues is being eyed for redevelopment.

From its current density of 86 residential units, the regional district’s housing entity is looking at building 250 to 350 new units for this location. Of those, 86 or more will be for rental. The rest will be market housing.

On Friday (February 24), the MVHC will act on a staff recommendation to make the next step to redevelop Heather Place, a desirable housing location. Staff are asking the housing board for authority to retain consultants to help in a rezoning application with the City of Vancouver. The rezoning is expected to cost Metro Vancouver $500,000.

Posted on Vancouver Real Estate-Vancouver Homes For Sale

by Maggie Chandler Maggie Chandler No Comments

BC’s Economy Doing Better Than Most Canadian Provinces – Homes for Sale in Vancouver

On a day of fiscal reckoning, British Columbians might want to look east to better judge the health of their province’s finances.

The reality is, B.C. is doing a lot better than most other provinces.

These days only resource-rich Saskatchewan and Alberta are besting the west coast province on the fiscal front.

The story to the east is worrisome, with Ontario and Quebec’s manufacturing sectors struggling and a down-turn in trade with the U.S. depressing Central Canada’s growth.

Ontario had a January jobless rate of eight per cent and Quebec, 8.4 per cent, compared to B.C.’s 6.9 per cent.

The B.C. budget was tabled Tuesday in Victoria, just a week after economist Don Drummond issued a devastating report on Ontario’s economic outlook.

Be thankful! I remember when it was the reverse and BC was the tail on the dog!

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by Maggie Chandler Maggie Chandler No Comments

BC Budget Housing Tax Credits aid First-time Buyers and Seniors

Hoping to shore up the foundation of the province’s housing sector, the B.C. government used its budget to unveil a pair of home tax credits.

The B.C. First-Time New Home Buyers’ Bonus will offer a temporary, one-time refundable income tax credit of up to $10,000 for first-time buyers who purchase a newly constructed home.

The B.C. Seniors’ Home Renovation Tax Credit will offer a refundable personal income tax credit to assist people age 65 and over with the cost of permanent home renovations. The maximum credit will be $1,000 annually.

The credits come less than a week after the Liberal government announced measures to support new-home buyers and builders as the province makes the transition from the HST back to the PST. The government will officially return to the provincial sales tax on April 1, 2013, a year and a half after B.C. residents voted to abolish the harmonized sales tax.

Oh goodie!

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by Maggie Chandler Maggie Chandler No Comments

Visit BC’s Home and Garden Show – Vancouver Real Estate News

Swanky porta-potties and a backyard “man cave” are just some of what’s in store at the BC Home & Garden Show kicking off today at BC Place Stadium.

On hand will be everything from celebrity presenters to a prefabricated dream home, as well as plenty of homeenhancing exhibits worth checking out Expect to see lots of new things, says the show’s manager Jill Kivett, as well as unexpected spins on the familiar.

What’s the biggest trend to watch for?

“It’s all about bringing the indoors out and the outdoors in,” says Kivett. “Outdoorsy and green.”  We like the sound of that.

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by Maggie Chandler Maggie Chandler No Comments

Top Chef Final to be Filmed In Vancouver – Vancouver Real Estate News

Tourism Vancouver and partners the Canadian Tourism Commission, Tourism British Columbia, Tourism Whistler and Fairmont Hotels and Resorts are proud to announce that Vancouver is the featured destination for the final two episodes of Bravo’s culinary competition series Top Chef: Texas.

The show airs on Bravo USA, February 22 and 29 (finale) at 10pm ET/PT, and Food Network Canada, March 5 at 10pm ET/7pm PT, and March 12 (finale) at 9pm ET/6pm PT.

Both episodes were filmed in January around the city under brilliant sunny skies and at The Fairmont Hotel Vancouver. The episodes highlight local ingredients, some of Vancouver’s notable resident chefs, “beauty shots” of the destination, and plenty of kitchen drama as the final few chefs compete for the top honour.

“Attracting major broadcast opportunities is a growing focus for Tourism Vancouver’s marketing strategy because of the huge audiences we can reach,” said Walt Judas, Tourism Vancouver’s vice president of Marketing Communications and Member Services. “A show like Top Chef is an incredible endorsement of Vancouver’s culinary offerings. It not only gets people around the world talking about the destination, but also helps them learn about the kinds of experiences they can have here. This in turn has the potential of moving travellers along the path to actually booking a trip to Vancouver.”

via travelvideo.tv

Fabulous advertising for our city!

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by Maggie Chandler Maggie Chandler No Comments

How is the Vancouver Real Estate Market on Bayshore Drive?

How is the Vancouver real estate market for Coal Harbour’s Bayshore Drive?

Are prices up or down? Are listings increasing? Are sales up or down? What’s the average days on the market? What’s the average price? How do prices compare to a year ago. How flexible are sellers on their list price?

2011 vs 2010

Sales and average price was up in 2011

2011 saw 40 sales (average price $1,557,062)  vs 36 in 2010 (average price $1,352,567)

The Stats

  • Listings 23
  • sales 2
  • days on market 53
  • average sales price $1,290,750
  • average $psf – 945
  • list price/sale price ratio 3%
  • 11 months of inventory

The Bayshore Drive Buildings

1790 Bayshore – 4 listings and 1 sale

1710 Bayshore – 3 listings

1717 Bayshore – 5 listings and 1 sale

1777 Bayshore – 3 listings

1680 Bayshore –  2 listing

1650 Bayshore –  3 listings

1616 Bayshore – 3 listings

Bayshore Prices range from $629,000-$6.5M

Year to Date Stats vs Last Year

  • 2012- 2
  • 2011 – 2

Buying or Selling in Coal Harbour?

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  • Check out all the Coal Harbour condo buildings
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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 and sales are flat, delivering a strong buyers market.

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

Geographical Outline

East of Burrard Street, west of Ontario Street and north of 6th Avenue. Vancouver’s Olympic Village is part False Creek.

The Buildings

There are resales, many bought by investors and not occupied, there are condo buildings in the neighbourhood that aren’t part of the Olympic Village and there are also many condo  presales (Pinnacle, Wall Centre, Maynards,  James, Opsal, Central,Lido, Meccanical).  So take your pick! Very reasonable prices, starting under $600psf.

The Numbers (vs. previous month)

  • listings 76 (61)
  • sales 8 (11)
  • average days on market 49 (55)
  • List Price/Sale Price Ratio 3% (2%)
  • average $psf  $629 ( 676)
  • The average sale price clocked in at $551,435 ($775,346)
  • Current inventory in months – 9.5 ( 7.5)

Busiest price range?

  • 75% was under $620,000
  • 25% between $750,000 and $800,000

90 day trend?

Listings are up and sales are down. Average price is down

Buying or Selling Your Vancouver condo?

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  • I educate you about the process and the market
  • All coupled with decades of experience
  • View my Olympic Village trends

    Leave a comment on Facebook at bottom of this post

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    by Maggie Chandler Maggie Chandler No Comments

    The Georgia Viaduct Under the Butchers Knife! – Vancouver Real Estate Market Update

    No, this is not the fragment of some strange planners reverie. This is an impromptu tour of the Vancouver neighbourhoods traversed by the Georgia Viaduct. Lead by Mr. Beasley, the city’s former head of planning and Mr. Green, a former councillor, mayoral candidate and long time community activist, the pair aim to show how eliminating the viaduct could not only create more space for housing and parks, but could weave disparate neighbourhoods into a whole new community.

    Currently the viaduct snakes through the city’s core, isolating key urban clusters – like the Jim Cheng tower above Costco, and the City Gate development East of Science World – and cutting off historic areas from the waterfront. Increasingly it is perceived as the serpent in what could be an urbanist’s Eden.

    In a city where housing pressures and lack of available land have pushed new developments eastwards out of the peninsular core, the idea of transforming or eliminating the viaduct – built in 1974 after community opposition thwarted larger plans for a freeway – is gaining ground.

    What do you think the City should do with the Viaduct?

    Posted on Vancouver Real Estate-Vancouver Homes For Sale

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    by Maggie Chandler Maggie Chandler No Comments

    B.C. economic snapshot for BC – Vancouver Homes for Sale

    Annual growth in B.C.’s consumer price index (CPI) rose to 1.7 per cent in January, representing a marginal increase from December.

    B.C.’s inflationary pressure was lowest among Canadian provinces by a substantial margin. The second lowest CPI growth was recorded in Manitoba at 2 per cent, while the Alberta and Ontario consumer price indices were up 2.9 per cent and 2.4 per cent, respectively. On a seasonally-adjusted basis, the CPI rose 0.1 per cent from December.

    In recent months, consumers have enjoyed a relatively stable price environment following more significant gains experienced through much of 2011. The recent easing of annual CPI growth has largely reflected a decline in the energy price index inflation in recent quarters.

    Annual growth in energy prices fell from double-digit per cent growth for most of 2011 to less than 5 per cent during the past two months, a combination of base-year effects and lower prices in recent months. However, energy price growth is still higher than the general aggregate.

    Posted on Vancouver Real Estate-Vancouver Homes For Sale

    by Maggie Chandler Maggie Chandler No Comments

    What’s The Average Price Per Square Foot for Vancouver Condos?

    Does the average price per square foot for Vancouver’s condos change for one, two and three bedrooms?

    Which type of condo has appreciated the most since 2010?

    Find your answer here!

    Average Price Per Square Foot for Vancouver West

    Please leave a comment at the bottom of this post, on Facebook

    Buying or Selling Vancouver Real Estate?

    • i come armed with stats and graphs
    • hyperlocal info
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    • all coupled with decades of experience and marketing

    by Maggie Chandler Maggie Chandler No Comments

    Year-round Vancouver farmer’s market planned for Main Street – Vancouver Real Estate Market Update

    In 1908, a large wooden building with ornate glass windows was built at a spot near the intersection of Main and Terminal in Vancouver.

    The City Market, as it was called, was built on False Creek Bridge, which became Main Street in 1910 but was then called Westminster Avenue.

    False Creek then went further east, all the way to Clark Drive in those days.

    Tara McDonald, executive director of the Vancouver Farmers Markets, is part of a group that wants to build a new permanent farmer’s market in roughly the same location, to be called New City Market.

    This is cool!

    Posted on Vancouver Real Estate-Vancouver Homes For Sale

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