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Month: August 2012

by Maggie Chandler Maggie Chandler No Comments

7 Reasons Why It’s a Good Time to Buy Vancouver Real Estate

During August I’ve had a number of potential buyers, both current clients and new clients, asking me if Vancouver home prices are bottoming and is it now time to buy.  I believe it is and here are seven reasons why its a good time to buy Vancouver real estate. I’ve noticed an increase in buyer activity in August, more buyers returning to the market, some looking, some making offers. Vancouver condo buyers are getting some great deals. Read more

by Maggie Chandler Maggie Chandler No Comments

Can I Close on My Vancouver Condo in 14 Days?

Sometimes my Vancouver buyer clients ask if they can close on the Vancouver condo they’re purchasing in less than a month.  The logistics depend on whether the buyer and seller can be easily reached to sign the lawyer’s documents. If they are, then a fourteen day close in easy to do.

How to Speed Up the Closing Process on a Vancouver Property

  • Review  and approve the strata documents prior to making an offer. This can be done in two days
  • Have your bank or mortgage broker approve the condo building and give you a confirmation letter approving your mortgage. Let them know you will need funding in less than fourteen days
  • After you successfully negotiate with the seller, order a building inspection for the next day and give your lawyer instructions to start conveyancing
  • Remove subject to building inspection clause (assuming there are no issues of concern) and send a copy of the contract to your lawyer
  • Have the real estate brokerage send conveyancing instructions to seller and buyers lawyer the day after subject removal takes place
  • the deposit should be a bank draft, ensure your funds are liquid prior to making the offer Take a cheque to your lawyer the day prior to closing and sign required documents

Real Estate Closing Documents Can Be Sent Electronically

The parties to the transaction are no longer required to visit their lawyer’s office, they can have the documents sent to them electronically. On Possession Day Maggie meets you with the keys to your Vancouver property! Have a closing question about Vancouver real estate?

P.S. I am your Vancouver real estate condo realtor! hyper-local info and decades of experience!

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by Maggie Chandler Maggie Chandler No Comments

Why Have Vancouver’s Shangri-la Condo Prices Risen in 2012?

Vancouver’s Shangri-la hotel/condo building is the city’s tallest at 62 levels and sits on the corner of  Thurlow and West Georgia. The condo building has live/work suites at 1111 Alberni with its own concierge and the Estates at 1128 W. Georgia share the hotel’s concierge. Sales and prices in 2012  increased in the higher price ranges! Bucking the trend!

1111 Alberni Condos YTD 2012 vs 2011

  • 12 listings  from $580,000 to $1.980.000
  • solds 12/18
  • 2012 had 7 sales over $1M and 2011 had 11
  • average sold price $1.130.541/$1.018.144
  • average $psf  997/918 Read more

by Maggie Chandler Maggie Chandler No Comments

Kitsilano Condo Price Slashed to $299,900! Hurry!

Seller’s loss is your gain! Grab this great deal!

107-2226 W. 12th Avenue in Kitsilano’s Arbutus Walk has had its price slashed to $299,900. Best deal in the neighbourhood!! This spacious 527sf studio has a quiet south facing exposure and a patio. Built in murphy bed, insuite laundry, full size storage locker and two parking stalls! Engineered hardwood floors and move in condition.

A great investment and an easy rental at $1200 pr month or a perfect pied-a-terre or first time buyer condo. Easy transportation to UBC.

Walkscore 88 – very walkable!

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by Maggie Chandler Maggie Chandler No Comments

Coal Harbour Neighbourhood Video

Coal Harbour Neighbourhood Video


Contact Maggie [email protected]

P.S. I am your Coal Harbour real estate condo realtor! Hyper-local info and decades of experience!

by Maggie Chandler Maggie Chandler No Comments

Vancouver’s Bayshore Drive Prices Rise As Sales Halt

Vancouver’s most prestigous waterfront neighbourhood of Coal Harbour has seven condo buildings on Bayshore Drive which curently has 18 listings (down from 26 in May ) 19 sales YTD.  Median sale price is $1,253,00 and $939psf. with an average of 85 days to sell.

Are Bayshore Drive Property Prices Higher Than a Year Ago?

Compared to 2011 YTD – 32 sales with a median sale price of $1,138,000 and $901psf  and  71 days to sell. Five Bayshore condos sold over $2M. The median sale price is up, compared to a year ago but sales have fallen, with only 3 sales since June 1st. Read more

by Maggie Chandler Maggie Chandler No Comments

Yaletown’s Marinaside Crescent Condo Prices Flat Vs. a Year

Vancouver condosMarinaside Crescent is part of Vancouver’s Yaletown neighbourhood and sits on the waterfront looking south to False Creek. The hirise condo buildings were developed by Concorde Pacific.

As in other Vancouver neighbourhoods sales are down in 2012 but  Marinaside Crescent condo prices are flat compared to a year ago, bucking the trend.

Yaletown is performing better than Coal Harbour, perhaps because there are  smaller and more affordable condos in Yaletown where one bedrooms run at 560sf to 700sf.

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by Maggie Chandler Maggie Chandler No Comments

How’s the Market in Vancouver’s Yaletown Beach Cresent Neighbourhood?

Beach Crescent neighbourhood is part of Yaletown, in Vancouver’s Downtown. It consists of  12 concrete hirise condo buildings surrounding George Wayborn Park, all built by Concord Pacific. The market in Vancouver’s Yaletown Beach Crescent has seen fewer sales and lower prices YTD compared to 2011.

Beach Crescent is a waterfront neighbourhood and looks south to Granville Island

Read more

by Maggie Chandler Maggie Chandler No Comments

Which Vancouver Condo Neighbourhood Offers the Best Value?

Let’s compare Vancouver’s condo neighbourhoods and see which offer the best value and how much  prices have dropped this year.

The graph for Vancouver West houses, townhouses and condos shows condos between $300,000 and $500,000 have sold best this year. It also shows the monthly new listings on a decline and the total number of listings dropping.

Expect to see an uptick in sales this Fall, as more buyers take advantage of the lower Vancouver real estate prices. CMHC predict an upturn in prices for 2013. Read more

by Maggie Chandler Maggie Chandler No Comments

West End Condo Prices Down a Whopping 20% From May 2012

West End condo prices are down 20% from May’12 at $783,000 and average sale price  is now $584,000. Prices peaked in Jan’12 at $917,000 (pushed up by some high end sales).

  • West End listings are 274 , equal to a year ago
  • West End sales for July were 37, which is 15% lower than a year ago and taking an average of 31 days to sell
  • Sellers dropped 1.1% off list price
  • The average $psf  is flat at 623
  • Sales to active ratio is 14, indicating the lower part of a balanced market
  • Expect sales to pick up in second half of 2012 Read more

by Maggie Chandler Maggie Chandler No Comments

False Creek Condo Sale Price Down 20% from a Year Ago

False Creek real estate prices are down 20% from a  year ago, having peaked at $783,000 in Mar’10 and average sale price is now down to $534,322

  • False Creek listings down to 149  and are 7%  higher than a year ago
  • False Creek sales for July were 9, which is 50% lower than a year ago and taking an average of 37 days to sell
  • Sellers dropped 3.5% off list price
  • The average $psf  is flat at 600
  • Sales to active ratio is 7, indicating a strong buyers market
  • Expect sales to pick up in second half of 2012 Read more

by Maggie Chandler Maggie Chandler No Comments

Yaletown Real Estate Prices Drop 30% from Jan’11

Yaletown real estate prices are up 0.7% year over year, having peaked at $978,000 in Jan’11 and has dropped 30% to $690,290 which is back to Dec’07 price but has been on a roller coaster since.

  • Yaletown listings down to 345 and are 3%  higher than a year ago
  • Yaletown sales flat at 58, which is 13% higher than a year ago and taking an average of 60 days to sell.
  • Sellers dropped 5% off list price
  • The average $psf  is flat at 706
  • Sales to active ratio is 17, indicating a balanced market
  • Expect sales to pick up in second half of 2012 Read more

by Maggie Chandler Maggie Chandler No Comments

Vancouver’s Downtown Condo Prices Now Equal to Sept’09

How is Vancouver’s Downtown Condo Market? Vancouver’s Downtown average sale price in July turned down slightly from $479,000 to $463,000 and is now 8.5% lower than  a year ago and equal to  Sept’09. Prices peaked at $548,127 in Jan’12.  Downtown listings dipped to 561, 5% higher than a year ago and equal to Nov’08. Downtown sales dropped to 62, down 18% from a year ago and  equal to Feb’09.   Days to sell a property in July sat at 42.  The average $psf  is down to 624. This Vancouver  neighbourhood represents great opportunities for buyers!

How Have Vancouver Downtown Condos Performed Vs. Townhomes?

Compared to a year ago, Vancouver Downtown townhomes are up 23% (pushed up by some high end sales) and condos are down 9.7%. Townhomes peaked in Oct’09 and condos peaked in Jan’12. Read more

by Maggie Chandler Maggie Chandler No Comments

Have Coal Harbour Condo Prices Really Dropped?

July 2012 saw the average sale price for Coal Harbour condos down to $966,000 from $1,161,000 in June. and is down 26% from  a year ago, having peaked at $1,766,000 in Nov’11. Coal Harbour Sales in July were 19, down 50% from  a year ago.  60%  sold under $1M and no sales over $1.4M, taking an average of 63 days to sell.  The average price psf flat at $857. Coal Harbour condo listings dropped to 200, equal to a year ago.  Coal Harbour sellers on average moved 7% off List Price.

Coal Harbour Sales Vs A Year Ago

Read more

by Maggie Chandler Maggie Chandler No Comments

Which Neighbourhoods Are Performing the Best for Vancouver Real Estate?

The Vancouver real estate market is somewhat confusing. The big run up in house prices, due to Mainland Chinese buyers, has cooled and prices are decreasing – but are they?? Vancouver Houses began the downturn in the Spring and now some Vancouver  neighbourhoods are seeing prices move up whilst condos which were flat are now decreasing. Vancouver West condos are down 8% over the last year, townhomes are down 9% but houses are UP 0.7% having bottomed in May and now increasing.  Perhaps Vancouver real estate is more resilient than buyers wish for! Will the market continue to roller coaster or drop ? What do you think?

Read more

by Maggie Chandler Maggie Chandler No Comments

Kitsilano House Prices Down a Whopping 20%

Kitsilano’s real estate prices continued to slide in July, compared to June. The average sale price for Kitsilano townhomes slipped from  $,1034,000 to $903,143 and Kitsilano condos from  $473,236 to $444,732.  Kitsilano house prices down a whopping 20% from a year ago to $1,446,000. Townhome sales were up 7% from a year ago and condos up  24% . However listings spiked 46% for townhomes and condos 7%  vs a year ago.

How Long to Sell a Listing in Kitsilano?

In July 2012 days on the market for Kitsilano townhomes was 58 and 37 for condos, both longer than a year ago. Average $psf for Kitsilano townhomes is $716 and condos $574, both lower than  a year ago. Sales to listings ratio is only 20%, strong buyers market.

What’s Selling Best in Kitsilano Condos?

What sold best in Kitsilano condos over the last year?

  • two bedrooms up 10%
  • one bedrooms down 10%

What sold best in Kitsilano townhomes over the last year?

  • two bedrooms
  • condos  between $400,000 and $600,000
  • and townhomes over $1M

P.S. I am your Vancouver real estate condo realtor!  Decades of experience and hyper-local info!

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by Maggie Chandler Maggie Chandler No Comments

Vancouver’s Real Estate Prices Drop Again in July

The REBGV graph for July shows Vancouver west  average sale price now back to $976,864 and equal to February 2010. Houses dropped slightly to $2,397,038, down from the peak at $2,790,51 but higher than May.  Average townhome sale price dropped to $844,131, 9.6% lower than  year ago, and condos sit at $574,810 down 8.1% from a year ago.  Vancouver real estate market still favours buyers.

How Are Vancouver Property Sales Compared to a Year Ago?

Sales in all categories are still slipping. Vancouver house sales are down 40% from a year ago, after peaking in February this year.  Vancouver Townhomes sales in June are down 25% from a year ago. Vancouver Condos peaked in Mar’11 and are down 18% from a year ago. Greater Vancouver sales are below  the 10 year low. Sellers dropped an average of 4.5% on condos, 5.5% on townhomes and 7.5% on houses.

Vancouver Real Estate Listings declined in June

Vancouver real estate listings for houses, townhouses and condos peaked in May and are now decreasing. Listings in all categories are higher than a year ago.  Vancouver house listings are equal to the peak of Oct’08. Vancouver Condos are lower than the peak in Jun’10 and townhomes are down slightly from the peak in Nov’08. Go out and negotiate yourself a deal!

P.S. I am your Vancouver real estate condo realtor! hyper-local info and decades of experience!

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by Maggie Chandler Maggie Chandler No Comments

What’s the Top Reason for Buying Real Estate in Vancouver as a Second Home?

Many Vancouver condo buyers are non Canadian. What are the top reasons for buying real estate in Vancouver as a second home? I found a report by Cinco Dias who reported that the millionaires surveyed for the present edition of the Wealth Report were also asked what the most important factors are that influence their decision to purchase a second home in a particular country. The majority of them, 67%, placed more importance on lifestyle, rather than the possibilities of investment, education or tax incentives.

Where Do the World’s Millionaires Come From?

In the five years property consultants Knight Frank and the City Private Bank have been producing the Wealth Report ( a report on the investment trends of the largest fortunes in the world) London, New York, Beijing, Paris, Shanghai and Singapore are the cities considered by the richest as the most attractive investment destinations, as well as the major centres of economic and political power both now and during the next 10 years. The UK, United States and China remain the most important countries for millionaires. Read more

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