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Month: October 2012

by Maggie Chandler Maggie Chandler No Comments

Deal of the Month – Jameson House at 838 W. Hastings, Vancouver, BC

Last week I was on working with a buyer client who is wishing to purchase a luxury Downtown Vancouver condo around $2M. We viewed Downtown Vancouver’s most luxurious buildings and whilst doing so,  a condo in Jameson House at 838 W. Hastings stuck out as a good deal. The suite in question is 3101-838 West Hastings.

Why is 3101-838 West Hastings a Deal?

Jameson is now a year old and was designed by world renowned Foster & Partners and built by Bosa Properties and has 24 hour concierge. The condo is 2100sf, facing north with great water and mountain views and boasting 9ft ceilings. Listed at $1,890,000 which is $900psf.  The tax assessment is $2.069.000 and  the suite below sold in August for $1,945,000. #2201 sold in March for $1,960,000.  Immediate possession is possible! Read more

by Maggie Chandler Maggie Chandler No Comments

Which Vancouver Condo Neighbourhood Has the Best Value?

As the month draws to a close let’s compare Vancouver’s neighbourhoods and see which one offers the best value for condo buyers, based on October sales published to date vs October 2011. Some neighbourhoods are up, some are down and some are the same. Kitsilano and Yaletown are performing the best. Yaletown was recently voted the best Vancouver neighbourhood for a real estate investment. Read more

by Maggie Chandler Maggie Chandler No Comments

16-10920 Springmont Drive Richmond – $50,000 Below Tax Assessmet

Just listed! 16-10920 Springmont Drive in desirable Steveston North is a great buy!  This well managed complex is close to the Dyke and Steveston Village and Garry Point Park. Transportation, schools and shopping at your doorstep.  The complex has a large playground for kids and is pet and rental friendly.

What are the Townhome Features?

It’s a two level home with an attic. Three bedrooms up, a large living/dining space and large kitchen with eating area down and boasting a large patio off the living room and super large south facing private and treed  backyard, completely fenced in,  great for gardeners. Total 1432sf. Priced for immediate sale $389,900 Read more

by Maggie Chandler Maggie Chandler No Comments

Are The Private Residences At Rosewood’s Hotel Georgia Vancouver’s Swankiest Condos?

Downtown Vancouver’s iconic Hotel Georgia has undergone a major renovation and re-opened in 2011. It features Hawksworth Restaurant.  The hotel was host to many high profile Hollywood stars of the old days and is one of Vancouver’s most wonderful buildings, draped in character and history.  The new 48 storey condo tower sits north of the hotel, opening up in December 2012. Other Downtown Vancouver hotel/condo buildings in this category are the Shangri-la and Fairmont Pacific Rim Estates. Soon to come is The Ritz. Are the Private Residences at Rosewood’s Hotel Georgia Vancouver’s swankiest condo building? Having just viewed the suites with a client I’d have to say it is! Read more

by Maggie Chandler Maggie Chandler No Comments

Why Is Maggie Chandler Your Vancouver Real Estate Condo Realtor?

Gone are the days when you placed a sign on your Vancouver listing, held an open house and received multiple offers! It is now a much tougher market for Vancouver sellers, so you should be very discriminating in whom you hire to market your Vancouver condo or townhome. On the contrary, it’s a fun market for Vancouver condo and townhome buyers. One way to find a good realtor is a referral from someone you know. Or find a Vancouver condo realtor online,  meet with them and ask lots of questions. Let’s review why Maggie Chandler is your Vancouver real estate condo realtor. Read more

by Maggie Chandler Maggie Chandler No Comments

Are Micro Condos the Future of Vancouver Real Estate?

As Vancouver’s real estate market turns from a buyer to a sellers market in 2012, there are new pre-sale condo projects coming on the market featuring micro condos. Great for first time buyers and Vancouver condo investors. Other Canadian and US cities also hopping on the micro band wagon. Are micro condos the future of  Vancouver real estate?

What is a Vancouver Micro Condo?

According to Wikipedia micro is “a prefix in the metric system denoting a factor of 10 (one millionth), confirmed in 1960 to come from the Greek word micros, meaning small. So a Vancouver micro condo is a small condo! Until this year, small was 400sf, now small is 200sf plus. Read more

by Maggie Chandler Maggie Chandler No Comments

What is the Vancouver Penthouse Lifestyle?

What is the Vancouver penthouse lifestyle? When one mentions a Penthouse Condo it conjures up images of grandeur, the super rich, the filmstars, living in the sky in a luxury developement in exotic cities like Manhattan, Los Angeles, Paris or Vancouver or beachfront living in Miami! One’s own private pool and valet service for everything you wish for! Vancouver has an excellent assortment of Penthouses also, given that we’re largely a condo city. Read more

by Maggie Chandler Maggie Chandler No Comments

How Are Vancouver’s Waterfront Condo Prices?

If you’re looking for a Vancouver waterfront condo you basically have the choice of  four neighbourhoods, of which three are in Vancouver’s Downtown peninsula – Coal Harbour, the West End and Yaletown. Then there’s False Creek, on the south side of the water where Vancouver’s Olympic Village sits. Coal Harbour has less than 35 condo buildings and is considered the most luxurious and distinctive of them all! It’s also the most expensive!

Waterfront Sales Vs Average Sale Price for 2012 Read more

by Maggie Chandler Maggie Chandler No Comments

Get Ready for Vancouver Condos Alternative Dispute Resolution

Recent Provincial legislation will result in resolving strata disputes faster, more accessible and more affordable.  The Cival Resolution Tribunal is a result of the Civil Resolution Tribunal Act which will become operational by 2014 and will address Alternative Dispute Resolutions for Vancouver Condos.

Who Can Access Tribunal Services?

Strata corporations, strata owners and tenants if two individuals are in a dispute but both will need to agree to participate in the tribunal, in which case the strata corporation must participate. The Tribunal will have the authority to handle disputes between strata property owners and strata corporations. There is a five step process.  Fees have not been finalized. Read more

by Maggie Chandler Maggie Chandler No Comments

Chinatown Parking Lot Turns into Pre-Sale Condo Building

Joni Mitchell wrote “they paved paradise and put up a parking lot”, now they’re removing the parking lot and building a condo in Vancouver’s Chinatown! The lot is only 28 feet wide! The building will be called The Flats, just off East Georgia Street.

Vancouver’s Chinatown Undergoes Revitilization

Currently the City of Vancouver is reviewing the old buildings in Vancouver’s Chinatown, which sits east of Yaletown, and selecting the ones that merit Heritage Designation. As it turns out there are many historic Chinatown buildings to preserve and not much room for new condo development. The building will be 9 levels and feature juliette balconies. Read more

by Maggie Chandler Maggie Chandler No Comments

Are Coal Harbour’s Bayshore Prices Higher Than a Year Ago?

Vancouver’s luxury waterfront neighbourhood of Coal Harbour has seven condo buildings that are part of Bayshore Drive, of which two are on the waterfront. Currently there’s 20  listings and only one sale in September, which was the least expensive listing, under $800,000 for a two bedroom. So, are Coal Harbour’s Bayshore prices higher than a year ago? Yes! Bayshore bucks the trend.

More Bayshore Drive Sales in 2011 Than 2012

Bayshore Drive sales in 2012 totalled 20 YTD with an average sale price of $1,690,000 or $960psf and sellers moving 6% off list price and 81 days to sell and two sales over $3M Read more

by Maggie Chandler Maggie Chandler No Comments

West End Average Sale Price Equal to October 2009

September’s West End condo average sale price equal to October 2009 at $597,368, equal to Oct’09 and has been roller coastering since.  West End Prices peaked in Jan’12 at $917,000 (pushed up by some high end sales).

  • West End listings 263 , equal to May’08
  • West End sales for Sept 37
  • Average days on market – 47
  • Sellers dropped an average of 5% off list price
  • The average $psf  is flat at 625
  • West End sales to active ratio remains unchanged at 14, indicating the lower part of a balanced market Read more

by Maggie Chandler Maggie Chandler No Comments

False Creek Average Sale Price Down 11%

Vancouver’s False Creek waterfront neighbourhood offers a variety of condos, older and newer concrete buildings sitting on the south side of False Creek and looking north to Yaletown and the mountains. The False Creek average sale price is down 11% from a year ago, as per REBGV. False Creek Sellers moved an average of 7% off list price and it took an average of 35 days to sell. Sales to active ratio sits at 5%, equal to Dec’08. False creek listings at 132 are 18% higher than a year ago and close to the peak. Read more

by Maggie Chandler Maggie Chandler No Comments

Coal Harbour Sales Nose Dive to December’08 Levels

September in Vancouver’s luxury waterfront neighbourhood of Coal Harbour saw sales nose dive to Dec’08 levels, which  was the lowest point since January 2006. Coal Harbour listings sit at 202,  well below the peak of Nov’08. Coal Harbour’s average sale price is $1,178,000, equal to  Jun’08 and has been rollercoastering since then.

Coal Harbour Sales Vs A Year Ago

Coal Harbour sales in September took an average of 55 days to sell and sellers dropped an average of 5% off list price. The sales to active ratio remained at 5%, equal to the Fall of 2008 and down from 47 in 2006! However, the number of sales YTD is down 40% vs same period last year Read more

by Maggie Chandler Maggie Chandler No Comments

Vancouver’s Downtown HPI Price Now Equal To August 2009

Vancouver’s Downtown HPI  price in September is equal to the  Aug’09 price of $382,000 which is 1% lower than a year ago. Prices peaked at $408,000 in Mar’11.  Downtown listings dipped to 488,  9% lower than a year ago and Downtown sales dipped to 54, down 33% from a year ago. Downtown days on the market was 57.  The average $psf  is 640. Downtown  Sales to active ratio dropped to 11%, equal to Sept’10 and is 1% above a buyers market.

How Have Vancouver Downtown Condos Performed Vs. Townhomes?

Compared to a year ago the HPI price for Vancouver Downtown townhome  is down 10% and condos are down 1%. Townhomes peaked in Jan’10 and condos peaked in Mar’11. Read more

by Maggie Chandler Maggie Chandler No Comments

Yaletown Real Estate Prices Rise in September

Vancouver’s Yaletown real estate market in September saw the average sale price rise from $824,000 to $873,000 whilst sales emained flat at 46 and took an average of 57 days to sell. Sellers moved an average of 6% from their list price. The number of condos and townhomes for sale dropped to 307.

Sales to active ratio climbed to 15, indicating a balanced market. A Penthouse on Marinaside Crescent sold for $6M.

Buying or selling in Vancouver’s Yaletown? I am your Yaletown real estate condo realtor! hyper-local experience!

by Maggie Chandler Maggie Chandler No Comments

How Are Kitsilano’s Real Estate Prices in September?

Vancouver’s Kitsilano real estate prices for September saw condos up, townhomes down and houses flat.  The average sale price for Kitsilano townhomes went from $1,013,000 to $732,000 and Kitsilano condos rose from  $448,000 to $506,000. Kitsilano house prices up from $1,519,000 to $1,511,000 Kitsilano townhome sales were down 31%  from a year ago and condos dropped 12%.  Kitsilano townhome  and condo listings were flat compared to August but higher than a year ago.

How Long to Sell a Listing in Kitsilano?

In September 2012 days on the market for Kitsilano properties increased to 49, which is 78% higher than a year ago. Average $psf for Kitsilano townhomes is $678 and condos $609, both lower than  a year ago. Sales to listings ratio flat at 14%, still a balanced market but favouring buyers. Kitsilano sellers moved an average of 6% off list price, same as August. Read more

by Maggie Chandler Maggie Chandler No Comments

Greater Vancouver Home Sales 41% Below 10 Year Average in September

Greater Vancouver home sales were 41% below the 10 year average and 32.5% below Sept’11 and 8% below Aug’12. Greater Vancouver listings increased 5.6% from a year ago and were lower than August, having peaked in June.   Average sale price dipped from  $731,000 to $723,000, almost equal to Dec’10.

Which Greater Vancouver Neighbourhoods Increased in September?

Maple Ridge, Pitt Meadows, Port Coquitlam, Port Moody and the Sunshine Coast (big uptick here)  saw average sale price increase. North and West Vancouver, Richmond and Ladner, New Westminster,  Burnaby, Coquitlam, Tsawwassen, Squamish and Vancouver West  all saw a decrease in  the average sale price. East Vancouver flat. Read more

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