Friday, December 12, 2008
West Vancouver & North Vancouver Sales & Listings Graphs
These graphs display how New Listings have been decreasing in recent weeks- likely due to the Holiday Season, as well as the resistance for Homeowners to list their homes in a slower market. Sales, while slower than 2007, continue to occur as Real Estate economics dictate home dwellers necessity for housing and desire to live on The Northshore. Recent sales, however, are occurring at extremely discounted sale prices when sellers are motivated and buyers are utilizing low interest rates to capitalize on pricing more in par with 2006 averages. For all your Vancouver Real Estate needs and questions contact Stuart Bell at 604.562.0532.
Tuesday, December 2, 2008
Vancouver Real Estate Statistics - November 2008
FOR IMMEDIATE RELEASE:
Slow home sales create window of opportunity
VANCOUVER, B.C. – December 2, 2008 – November reductions in home sales and prices have helped improve affordability in Greater Vancouver. However, November also saw a corresponding decrease in the number of new homes coming onto the market.
In its most recent statistics release, the Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver declined 69.7 per cent in November 2008 to 874 from the 2,883 sales recorded in November 2007.
Residential benchmark prices, as calculated by the MLSLink Housing Price Index®, declined 12.8 per cent between May and November 2008, amounting to an 8.3 per cent year-to-date price reduction for detached, attached and apartment properties in Greater Vancouver between November 2007 and 2008. In May 2008, the overall residential benchmark price was $568,411, compared to $495,704 in November 2008.
“Times of turmoil, from which we always emerge, offer excellent opportunities to buy quality real estate,” says REBGV president, Dave Watt.“For those whose personal finances allow them to get involved, there are opportunities in today’s housing market that have not been seen in many years.
“The local real estate market is not immune to the current economic challenges globally; however, Canada’s disciplined lending structure has kept the mortgage landscape steady in these uncertain times.”
New listings for detached, attached and apartment properties declined 10.8 per cent to 3,012 in November 2008 compared to November 2007, when 3,377 new units were listed. Active listings in November declined 4.7 per cent to 18,348 from the 19,257 active listings in Greater Vancouver in October 2008.
Sales of detached properties in November 2008 declined 69.8 per cent to 322 from the 1,067 units sold during the same period in 2007. The benchmark price for detached properties declined 8.6 per cent from November 2007 to $666,525. Since May 2008, the benchmark price for a detached property in Greater Vancouver has declined 13.6 per cent.
Sales of apartment properties declined 67.9 per cent last month to 410 compared to 1,276 sales in November 2007. The benchmark price of an apartment property declined 8.6 per cent from November 2007 to $342,315. Since May 2008, the benchmark price for an apartment property in Greater Vancouver has declined 12.2 per cent.
Attached property sales in November 2008 decreased 73.7 per cent to 142, compared with the 540 sales in November 2007. The benchmark price of an attached unit declined 6.4 per cent between November 2007 and 2008 to $426,287. Since May 2008, the benchmark price for an attached property in Greater Vancouver has declined 11 per cent.
Slow home sales create window of opportunity
VANCOUVER, B.C. – December 2, 2008 – November reductions in home sales and prices have helped improve affordability in Greater Vancouver. However, November also saw a corresponding decrease in the number of new homes coming onto the market.
In its most recent statistics release, the Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver declined 69.7 per cent in November 2008 to 874 from the 2,883 sales recorded in November 2007.
Residential benchmark prices, as calculated by the MLSLink Housing Price Index®, declined 12.8 per cent between May and November 2008, amounting to an 8.3 per cent year-to-date price reduction for detached, attached and apartment properties in Greater Vancouver between November 2007 and 2008. In May 2008, the overall residential benchmark price was $568,411, compared to $495,704 in November 2008.
“Times of turmoil, from which we always emerge, offer excellent opportunities to buy quality real estate,” says REBGV president, Dave Watt.“For those whose personal finances allow them to get involved, there are opportunities in today’s housing market that have not been seen in many years.
“The local real estate market is not immune to the current economic challenges globally; however, Canada’s disciplined lending structure has kept the mortgage landscape steady in these uncertain times.”
New listings for detached, attached and apartment properties declined 10.8 per cent to 3,012 in November 2008 compared to November 2007, when 3,377 new units were listed. Active listings in November declined 4.7 per cent to 18,348 from the 19,257 active listings in Greater Vancouver in October 2008.
Sales of detached properties in November 2008 declined 69.8 per cent to 322 from the 1,067 units sold during the same period in 2007. The benchmark price for detached properties declined 8.6 per cent from November 2007 to $666,525. Since May 2008, the benchmark price for a detached property in Greater Vancouver has declined 13.6 per cent.
Sales of apartment properties declined 67.9 per cent last month to 410 compared to 1,276 sales in November 2007. The benchmark price of an apartment property declined 8.6 per cent from November 2007 to $342,315. Since May 2008, the benchmark price for an apartment property in Greater Vancouver has declined 12.2 per cent.
Attached property sales in November 2008 decreased 73.7 per cent to 142, compared with the 540 sales in November 2007. The benchmark price of an attached unit declined 6.4 per cent between November 2007 and 2008 to $426,287. Since May 2008, the benchmark price for an attached property in Greater Vancouver has declined 11 per cent.
Thursday, November 20, 2008
Weekend Open's Nov 21-23
Friday November 21st- The Properties By Quigg - 2225 Twin Creek Road
The most exclusive residences in West Vancouver are at The Properties by Quigg in Whitby Estates. Enjoy panoramic views from Mt Baker to Vancouver Island from every room, highlighted by floor to ceiling windows and expansive patios. These terraced homes feature high quality finishing, private elevators, terraced design for privacy and sustainability, and only the finest Miele appliances. Must be seen to be appreciated!
Open Friday Nov 21st from 2-4pm!
Saturday Nov 22nd - 1355 Sinclair St- Ambelside Contemporary
Come enjoy this gorgeous home in the heart of West Vancouver, on a secluded cul-de-sac. Completely renovated by Cragg Built Construction, this family home features new oak hardwood floors, heating bathroom tiles, new designer kitchen, new carpets and paint, a grand recreation room, a stunning master with private sundeck overlooking the sparkling pool, and exquisite new bathrooms and fire lit family room and formal dining room. Designed by Kafta, featuring a grand pool with slate tiles patio, don't miss this home!
Sunday Nov 23rd- 6840 Copper Cove- White Cliff Park
Absolutely gorgeous, completely renovated throughout, 3 bedroom, 2 ½ bathroom family home just steps to the beach and Whytecliff Park. This home features the absolute best in finishes including hand scraped white oak floors, fabulous coordinated kitchen with Brazilian granite, wood shutters throughout, solid core doors and wonderful decorating. The gardens are beautifully designed with new spacious decks and a lovely waterfall. Gorgeous ocean views to Howe Sound make this home a wonderful opportunity.
Open 2-4 Sunday Nov 23rd!
The most exclusive residences in West Vancouver are at The Properties by Quigg in Whitby Estates. Enjoy panoramic views from Mt Baker to Vancouver Island from every room, highlighted by floor to ceiling windows and expansive patios. These terraced homes feature high quality finishing, private elevators, terraced design for privacy and sustainability, and only the finest Miele appliances. Must be seen to be appreciated!Open Friday Nov 21st from 2-4pm!
Saturday Nov 22nd - 1355 Sinclair St- Ambelside Contemporary
Come enjoy this gorgeous home in the heart of West Vancouver, on a secluded cul-de-sac. Completely renovated by Cragg Built Construction, this family home features new oak hardwood floors, heating bathroom tiles, new designer kitchen, new carpets and paint, a grand recreation room, a stunning master with private sundeck overlooking the sparkling pool, and exquisite new bathrooms and fire lit family room and formal dining room. Designed by Kafta, featuring a grand pool with slate tiles patio, don't miss this home!
Sunday Nov 23rd- 6840 Copper Cove- White Cliff Park
Absolutely gorgeous, completely renovated throughout, 3 bedroom, 2 ½ bathroom family home just steps to the beach and Whytecliff Park. This home features the absolute best in finishes including hand scraped white oak floors, fabulous coordinated kitchen with Brazilian granite, wood shutters throughout, solid core doors and wonderful decorating. The gardens are beautifully designed with new spacious decks and a lovely waterfall. Gorgeous ocean views to Howe Sound make this home a wonderful opportunity.
Open 2-4 Sunday Nov 23rd!
Thursday, November 6, 2008
News Release: October Stats
Residential housing price decline
creates buying opportunities
VANCOUVER, B.C. – November 3, 2008 – Housing price reductions across Greater Vancouver over the last six months have eliminated price gains witnessed in the first quarter of 2008.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential benchmark prices, as calculated by the MLSLink Housing Price Index®, declined 8.8 per cent between May and October 2008, resulting in a 3.9 per cent year-to-date price reduction for detached, attached and apartment properties in Greater Vancouver between Octobers 2007 and 2008. In May 2008, the overall residential benchmark price was $568,411, compared to $518,668 in October 2008.
“Home sales are not keeping pace with the positive economic conditions in BC,” said REBGV president, Dave Watt. “That’is a direct result of a loss of consumer confidence in the overall market. Accordingly, today's housing market is characterized by moderating home prices and wide selection. It’s definitely a buyer's market.”
Residential property sales in Greater Vancouver declined 55 per cent in October 2008 to 1,364 from the 3,028 sales recorded in October 2007.
Active listings totalled 19,257 in October 2008, a three per cent decline from the 19,852 active listings reported in September 2008. New listings for detached, attached and apartment properties increased one per cent to 4,867 in October 2008 compared to October 2007, when 4,819 new units were listed.
Sales of detached properties in October 2008 declined 56.5 per cent to 493 from the 1,133 sales recorded during the same period in 2007. The benchmark price for detached properties declined 4.7 per cent from October 2007 to $695,962. Since May 2008, the benchmark price for a detached property in Greater Vancouver has declined 9.8 per cent.
Sales of apartment properties in October 2008 declined 52.7 per cent to 647, compared to 1,368 sales in October 2007. The benchmark price of an apartment property declined 3.5 per cent from October 2007 to $358,359. Since May 2008, the benchmark price for an apartment property in Greater Vancouver has declined eight per cent.
Attached property sales in October 2008 are down 57.5 per cent to 224, compared with the 527 sales in October 2007. The benchmark price of an attached unit declined 1.4 per cent in Greater Vancouver between October 2007 and 2008 to $448,152. Since May 2008, the benchmark price for an attached property in Greater Vancouver has declined 6.4 per cent.
The bottom of this slide appears to be in site. With a new US president, decreasing interest rates, and a new year with increased 2010 Olympic attention, home prices are excpected to flatten in the Spring of 2009. So for all buyers who have been patiently waiting, your window of opportunity may be closing, as today's increased inventory presents many amazing deals in fantastic locations, time to capitalize on motivated sellers. Contact Stu today for all your real estate enquiries.
creates buying opportunities
VANCOUVER, B.C. – November 3, 2008 – Housing price reductions across Greater Vancouver over the last six months have eliminated price gains witnessed in the first quarter of 2008.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential benchmark prices, as calculated by the MLSLink Housing Price Index®, declined 8.8 per cent between May and October 2008, resulting in a 3.9 per cent year-to-date price reduction for detached, attached and apartment properties in Greater Vancouver between Octobers 2007 and 2008. In May 2008, the overall residential benchmark price was $568,411, compared to $518,668 in October 2008.
“Home sales are not keeping pace with the positive economic conditions in BC,” said REBGV president, Dave Watt. “That’is a direct result of a loss of consumer confidence in the overall market. Accordingly, today's housing market is characterized by moderating home prices and wide selection. It’s definitely a buyer's market.”
Residential property sales in Greater Vancouver declined 55 per cent in October 2008 to 1,364 from the 3,028 sales recorded in October 2007.
Active listings totalled 19,257 in October 2008, a three per cent decline from the 19,852 active listings reported in September 2008. New listings for detached, attached and apartment properties increased one per cent to 4,867 in October 2008 compared to October 2007, when 4,819 new units were listed.
Sales of detached properties in October 2008 declined 56.5 per cent to 493 from the 1,133 sales recorded during the same period in 2007. The benchmark price for detached properties declined 4.7 per cent from October 2007 to $695,962. Since May 2008, the benchmark price for a detached property in Greater Vancouver has declined 9.8 per cent.
Sales of apartment properties in October 2008 declined 52.7 per cent to 647, compared to 1,368 sales in October 2007. The benchmark price of an apartment property declined 3.5 per cent from October 2007 to $358,359. Since May 2008, the benchmark price for an apartment property in Greater Vancouver has declined eight per cent.
Attached property sales in October 2008 are down 57.5 per cent to 224, compared with the 527 sales in October 2007. The benchmark price of an attached unit declined 1.4 per cent in Greater Vancouver between October 2007 and 2008 to $448,152. Since May 2008, the benchmark price for an attached property in Greater Vancouver has declined 6.4 per cent.
The bottom of this slide appears to be in site. With a new US president, decreasing interest rates, and a new year with increased 2010 Olympic attention, home prices are excpected to flatten in the Spring of 2009. So for all buyers who have been patiently waiting, your window of opportunity may be closing, as today's increased inventory presents many amazing deals in fantastic locations, time to capitalize on motivated sellers. Contact Stu today for all your real estate enquiries.
1355 Sinclair
I am pleased to present a stunningly, completely renovated contemporary family home in Ambleside. 2800 sq ft with 4 bedrooms and 3 bathrooms featuring a sun drenched pool side patio, a grand recreation room, distinctive Kafta architectural features, and intimate privacy within a terrific family neighbourhood! Steps to schools, Hay Park, the new Community Recreation Center, Marine Drive, and the Seawall! Please join me Sunday, November 9th for a Public Open House, refreshments will be served.
Sunday, November 2, 2008
Weekend Opens Nov 1-2!
Saturday Nov 1 2-4pm & Sunday Nov 2 2-4pm The Properties by Quigg, West Vancouver
The finest West Coast living has to offer in prestigious Whitby Estates. I am proud to present 3 terracea, 2 townhomes, and 3 penthouses for sale ranging in price from $1.675 million to $4.895 million! New pricing on The Penthouses, priced to sell, the time is now to make The Properties by Quigg home!
Cameron Muir- Chief Real Estate Economist in BC
I attended a presentation and discussion with Cameron Muir, prominent Economist on BC Real Estate. Cameron stressed that our current market is a bit of an anomaly because while our Real Estate fundamentals, (interest rates, vacancy, unemployment, demand, immigration, ect.), are very strong, our market has slowed down considerably.
Cameron explained that with the financial crisis in the US Stock Market and the trickledown effect it has on Canada as well as the rest of the World, cumulated with the sub-prime mortgage problem in the US, consumer confidence, a very important factor in the emotional market of real estate, is currently as low as it has been since 1982.
The good news, however, is that we have NO sub-prime mortgage problem, in fact, our arrears (mortgages where mortgagees have missed 3 consecutive payments and are on the verge of defaulting) are at an all time low! Also, interest rates for mortgages are now at 4%, and despite what the papers suggest, banks are still willing to lend, including at sub-prime rates to qualified buyers and with as little as 5% down for first-time home buyers. Currently, I would recommend a floating rate mortgage as with a looming 1-2 year recession, they are likely to creep down further, TD bank offers exceptionally mortgage options.
October has seen increased market activity relative to August and September, savvy investors are beginning to see the opportunity, which I can assure you the Buyer there definitely is! Look for houses that have been on the market for over 6 months, houses that are vacant and the owner is motivated to sell, houses or developments where the developer is motivated to sell to clear his financing debt, and condominiums where people got into pre-sale contracts 2-3 years ago, the tower is now complete, but they don't have the cash to close and would rather sell the apartment at a loss than forfeit the sum of their down payment and the monthly payments they have been paying over the past 2-3 years.
The current market is a Buyer's market, so if you’re trying to sell your house to capitalize on the peak of the upward cycle, it's too late and you’re going to have to accept what the market is giving due to increased inventory- I recommend you enjoy the winter in your home and try again in the summer.
If you are a Buyer looking for your first home, or looking to upgrade, or looking for your dream home in that dream neighborhood, now is the time for you to go shopping. I am seeing AAA real estate selling, and it will continue to sell, look around your neighborhood and see what kind of houses aren't selling- the ones in need of TLC or with serious negative features (train tracks, highway noise, ect). Prices have fallen, the time-lag in real estate will take 6-9 months for these statistics to reveal themselves but today you can get 15%-25% off asking prices, prices equivalent to 2006 when real estate was a sure thing, and be thankful you didn't buy 8 months ago!
One fantastic opportunity I see presenting itself for investors, house-flipping is dead by the way, is too snatch up hot offers from desperate vendors, whether that be downtown condos or West Van homes, and rent the thing out! Rent rates are at all time highs and forecasted to grow, and mortgage rates are near all time lows and forecasted to drop- what this means is that you can become one of those people we all envied back in 2004-2006 who had tenants paying off their mortgages! So buy real estate, and accept $2000-$10,000 per month rent and cash in on your asset in 2011- it will be the best Bond you ever invest in!
So what do the experts predict? Cameron Muir sees rents increasing and incomes increasing to make BC home prices more affordable. He sees a 2 year recession for our economy as a whole so I wouldn't rely on your dead stocks to shoot up anytime soon, and he predicts the housing market to level out steadily in the Spring with increased home prices coming after The Olympics, when consumer confidence is back on track and newspaper editors stop the attack on Real Estate. He predicts a 15% decrease this year and a 5% decrease next year.
In conclusion, the catastrophic crash of the real estate market which seems to be the talk around every water cooler and Starbucks in town, is not going to happen. In fact, the worst has happened, and we are now in a time where savvy investors can capitalize, just ask Warren Buffet or Jimmy Paterson! Expect a 20% decline over 2 years, not a 45% crash like your RRSP!
Lastly, I read an article in The Vancouver Sun that made a lot of sense regarding home ownership. Real Estate is a hot topic in Vancouver that gets a lot of press and attention, so while today there is no doubt multiple offers, and quick-flips are no longer, we must not forget that buying a home is the single largest purchase in a person lifetime, a purchase made for a place to call home and grow a lifetime of memories, not an investment. So don't look at you master bedroom, kitchen, and living room as a Stock, Bond, or RRSP. Forget the short term fluctuations because if you are planning on living in your home for 5 years or more your asset will appreciate and you can appreciate it!
Stuart Bell
Prudential Sussex Realty
stu@stubell.com
604.562.0532
Cameron explained that with the financial crisis in the US Stock Market and the trickledown effect it has on Canada as well as the rest of the World, cumulated with the sub-prime mortgage problem in the US, consumer confidence, a very important factor in the emotional market of real estate, is currently as low as it has been since 1982.
The good news, however, is that we have NO sub-prime mortgage problem, in fact, our arrears (mortgages where mortgagees have missed 3 consecutive payments and are on the verge of defaulting) are at an all time low! Also, interest rates for mortgages are now at 4%, and despite what the papers suggest, banks are still willing to lend, including at sub-prime rates to qualified buyers and with as little as 5% down for first-time home buyers. Currently, I would recommend a floating rate mortgage as with a looming 1-2 year recession, they are likely to creep down further, TD bank offers exceptionally mortgage options.
October has seen increased market activity relative to August and September, savvy investors are beginning to see the opportunity, which I can assure you the Buyer there definitely is! Look for houses that have been on the market for over 6 months, houses that are vacant and the owner is motivated to sell, houses or developments where the developer is motivated to sell to clear his financing debt, and condominiums where people got into pre-sale contracts 2-3 years ago, the tower is now complete, but they don't have the cash to close and would rather sell the apartment at a loss than forfeit the sum of their down payment and the monthly payments they have been paying over the past 2-3 years.
The current market is a Buyer's market, so if you’re trying to sell your house to capitalize on the peak of the upward cycle, it's too late and you’re going to have to accept what the market is giving due to increased inventory- I recommend you enjoy the winter in your home and try again in the summer.
If you are a Buyer looking for your first home, or looking to upgrade, or looking for your dream home in that dream neighborhood, now is the time for you to go shopping. I am seeing AAA real estate selling, and it will continue to sell, look around your neighborhood and see what kind of houses aren't selling- the ones in need of TLC or with serious negative features (train tracks, highway noise, ect). Prices have fallen, the time-lag in real estate will take 6-9 months for these statistics to reveal themselves but today you can get 15%-25% off asking prices, prices equivalent to 2006 when real estate was a sure thing, and be thankful you didn't buy 8 months ago!
One fantastic opportunity I see presenting itself for investors, house-flipping is dead by the way, is too snatch up hot offers from desperate vendors, whether that be downtown condos or West Van homes, and rent the thing out! Rent rates are at all time highs and forecasted to grow, and mortgage rates are near all time lows and forecasted to drop- what this means is that you can become one of those people we all envied back in 2004-2006 who had tenants paying off their mortgages! So buy real estate, and accept $2000-$10,000 per month rent and cash in on your asset in 2011- it will be the best Bond you ever invest in!
So what do the experts predict? Cameron Muir sees rents increasing and incomes increasing to make BC home prices more affordable. He sees a 2 year recession for our economy as a whole so I wouldn't rely on your dead stocks to shoot up anytime soon, and he predicts the housing market to level out steadily in the Spring with increased home prices coming after The Olympics, when consumer confidence is back on track and newspaper editors stop the attack on Real Estate. He predicts a 15% decrease this year and a 5% decrease next year.
In conclusion, the catastrophic crash of the real estate market which seems to be the talk around every water cooler and Starbucks in town, is not going to happen. In fact, the worst has happened, and we are now in a time where savvy investors can capitalize, just ask Warren Buffet or Jimmy Paterson! Expect a 20% decline over 2 years, not a 45% crash like your RRSP!
Lastly, I read an article in The Vancouver Sun that made a lot of sense regarding home ownership. Real Estate is a hot topic in Vancouver that gets a lot of press and attention, so while today there is no doubt multiple offers, and quick-flips are no longer, we must not forget that buying a home is the single largest purchase in a person lifetime, a purchase made for a place to call home and grow a lifetime of memories, not an investment. So don't look at you master bedroom, kitchen, and living room as a Stock, Bond, or RRSP. Forget the short term fluctuations because if you are planning on living in your home for 5 years or more your asset will appreciate and you can appreciate it!
Stuart Bell
Prudential Sussex Realty
stu@stubell.com
604.562.0532
Friday, October 3, 2008
Weekend Open's Oct 4-5
Saturday Oct 4 2-4pm The Properties by Quigg, West Vancouver
The finest West Coast living has to offer in prestigious Whitby Estates. I am proud to present 3 terraces, 2 townhomes, and 3 penthouses for sale ranging in price from $1.675 million to $5.950 million!
Sunday Oct 5 2-4pm 2109 Kings Ave, Dunderave, West Vancouver
Beautifully appointed new contemporary home offering approximately 4100 sq.ft. of living on three spacious levels. Large open rooms with wrap around, over-sized picture windows offer a dramatic panorama of the West Vancouver shoreline to Lighthouse Park and Vancouver Island. The large open main level features dark polished floors with matching millwork, built-in custom cabinetry and extensive ceiling detail throughout. A stunning fully appointed designer kitchen features top of the line stainless steel appliances, large centre granite island and a private terrace ideal for summer entertaining. Offered exclusively for $2,395,000!
The finest West Coast living has to offer in prestigious Whitby Estates. I am proud to present 3 terraces, 2 townhomes, and 3 penthouses for sale ranging in price from $1.675 million to $5.950 million!
Sunday Oct 5 2-4pm 2109 Kings Ave, Dunderave, West Vancouver
Beautifully appointed new contemporary home offering approximately 4100 sq.ft. of living on three spacious levels. Large open rooms with wrap around, over-sized picture windows offer a dramatic panorama of the West Vancouver shoreline to Lighthouse Park and Vancouver Island. The large open main level features dark polished floors with matching millwork, built-in custom cabinetry and extensive ceiling detail throughout. A stunning fully appointed designer kitchen features top of the line stainless steel appliances, large centre granite island and a private terrace ideal for summer entertaining. Offered exclusively for $2,395,000!
Wednesday, October 1, 2008
Open House Wednesday Oct 1st
3634 Creery Avenue, West Bay, West Vancouver. $7,950,000.
I am very proud to present this most spectacular West Bay residence, custom built by renowned home builder Linda Burger and Associates. With over 6000 sq. ft. of total luxury, this amazing south side property features breathtaking close-in ocean views from Mt. Baker to Vancouver Island. Exterior highlights include the beautiful landscaping, a gorgeous pool and spa with open air shower, pool terrace with outdoor fireplace, and a large outdoor dining room with built-in DCS barbecue and fireplace off the main level. Large ocean view decks off the master bedroom, great room, dining room, living room and recreation room offer incredible spaces for outdoor entertaining. The interior of this home takes luxury living to a new level with exceptional attention to detail including six bedrooms, each with private ensuite and walk-in closet, eight bathrooms, a stunning master bedroom and ensuite, five fireplaces, custom millwork in the study and wine cellar and a home theatre with 100" screen and 5.1 surround sound system. This home offers unparallel living on one of West Vancouver's most sought after adresses. Call Bell for your private viewing.
I am very proud to present this most spectacular West Bay residence, custom built by renowned home builder Linda Burger and Associates. With over 6000 sq. ft. of total luxury, this amazing south side property features breathtaking close-in ocean views from Mt. Baker to Vancouver Island. Exterior highlights include the beautiful landscaping, a gorgeous pool and spa with open air shower, pool terrace with outdoor fireplace, and a large outdoor dining room with built-in DCS barbecue and fireplace off the main level. Large ocean view decks off the master bedroom, great room, dining room, living room and recreation room offer incredible spaces for outdoor entertaining. The interior of this home takes luxury living to a new level with exceptional attention to detail including six bedrooms, each with private ensuite and walk-in closet, eight bathrooms, a stunning master bedroom and ensuite, five fireplaces, custom millwork in the study and wine cellar and a home theatre with 100" screen and 5.1 surround sound system. This home offers unparallel living on one of West Vancouver's most sought after adresses. Call Bell for your private viewing.
Sunday, September 28, 2008
Weekend Opens Sept 27-28!
Saturday Sept 27 2-4pm
The Properties by Quigg, Whitby Estates, West Vancouver
The Properties by Quigg; amazing quality creating a new standard of luxury living. Concrete construction, 2 car private underground garage, extensive use of rich granite, marble and limestone, state of the art kitchen and entertainment size sundecks. Incredible views and stunning natural surroundings. An unequivocal opportunity to be part of West Vancouver's most desired neighbourhood. Offered proudly for $2,595,000!
Sunday Sept 28th, 2-4pm
2109 Kings Ave, DUnderave, West Vancouver
Beautifully appointed new contemporary home offering approximately 4100 sq.ft. of living on three spacious levels. Large open rooms with wrap around, over-sized picture windows offer a dramatic panorama of the West Vancouver shoreline to Lighthouse Park and Vancouver Island. The large open main level features dark polished floors with matching millwork, built-in custom cabinetry and extensive ceiling detail throughout. A stunning fully appointed designer kitchen features top of the line stainless steel appliances, large centre granite island and a private terrace ideal for summer entertaining. Offered for $2,395,000!
The Properties by Quigg, Whitby Estates, West Vancouver
The Properties by Quigg; amazing quality creating a new standard of luxury living. Concrete construction, 2 car private underground garage, extensive use of rich granite, marble and limestone, state of the art kitchen and entertainment size sundecks. Incredible views and stunning natural surroundings. An unequivocal opportunity to be part of West Vancouver's most desired neighbourhood. Offered proudly for $2,595,000!
Sunday Sept 28th, 2-4pm
2109 Kings Ave, DUnderave, West Vancouver
Beautifully appointed new contemporary home offering approximately 4100 sq.ft. of living on three spacious levels. Large open rooms with wrap around, over-sized picture windows offer a dramatic panorama of the West Vancouver shoreline to Lighthouse Park and Vancouver Island. The large open main level features dark polished floors with matching millwork, built-in custom cabinetry and extensive ceiling detail throughout. A stunning fully appointed designer kitchen features top of the line stainless steel appliances, large centre granite island and a private terrace ideal for summer entertaining. Offered for $2,395,000!
Thursday, September 4, 2008
Weekend Opens Sept 5-6!
Friday Sept 5, 2008
Stu will be showing #2303 1201 Marinaside Cresent, The Peninsula, Vancouver, BC, Canada from 10am - 1pm.
Completely Renovated Yaletown Condo, in the heart of False Creek. Unobstructive views of the harbour and marina. Enjoy your coffee from your kitchen as you overlook the new Olympic Village and False Creek. Unbeatable value for the tremendous amount of profesional designer work that was custom taylored for this unit. Offered exclusively for $1,098,000!
Saturday Sept 5, 2008
Stu is pleased to present 1955 22nd St, Dunderave, West Vancouver from 12:30-2pm!
Without a doubt this is the best buy in Dundarave. Gorgeous water and city views. Value mostly in the land but the house is very livable/rentable. There are three bedrooms on the main, family room off the new kitchen and lovely games and recreation rooms down. Lot is 8316 sq. ft. Hurry on this one, offered for $1,295,000!!
Stu will be presenting 2109 Kings Ave, Dunderave, West Vancouver, from 2-4pm!
Beautifully appointed new contemporary home offering approximately 4100 sq.ft. of living on three spacious levels. Large open rooms with wrap around, over-sized picture windows offer a dramatic panorama of the West Vancouver shoreline to Lighthouse Park and Vancouver Island. The large open main level features dark polished floors with matching millwork, built-in custom cabinetry and extensive ceiling detail throughout. A stunning fully appointed designer kitchen features top of the line stainless steel appliances, large centre granite island and a private terrace ideal for summer entertaining. Offered proudly for $2,395,000!!
Stu will be showing #2303 1201 Marinaside Cresent, The Peninsula, Vancouver, BC, Canada from 10am - 1pm.
Completely Renovated Yaletown Condo, in the heart of False Creek. Unobstructive views of the harbour and marina. Enjoy your coffee from your kitchen as you overlook the new Olympic Village and False Creek. Unbeatable value for the tremendous amount of profesional designer work that was custom taylored for this unit. Offered exclusively for $1,098,000!
Saturday Sept 5, 2008
Stu is pleased to present 1955 22nd St, Dunderave, West Vancouver from 12:30-2pm!
Without a doubt this is the best buy in Dundarave. Gorgeous water and city views. Value mostly in the land but the house is very livable/rentable. There are three bedrooms on the main, family room off the new kitchen and lovely games and recreation rooms down. Lot is 8316 sq. ft. Hurry on this one, offered for $1,295,000!!
Stu will be presenting 2109 Kings Ave, Dunderave, West Vancouver, from 2-4pm!
Beautifully appointed new contemporary home offering approximately 4100 sq.ft. of living on three spacious levels. Large open rooms with wrap around, over-sized picture windows offer a dramatic panorama of the West Vancouver shoreline to Lighthouse Park and Vancouver Island. The large open main level features dark polished floors with matching millwork, built-in custom cabinetry and extensive ceiling detail throughout. A stunning fully appointed designer kitchen features top of the line stainless steel appliances, large centre granite island and a private terrace ideal for summer entertaining. Offered proudly for $2,395,000!!
Wednesday, September 3, 2008
AUGUST News Release
Summer lull sees properties stay on market
VANCOUVER, B.C. – September 3, 2008 –
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 1,568 in August 2008, a decline of 53.7 per cent from the 3,384 sales in August 2007, and a 47.7 per cent reduction from the 2,998 sales recorded in August 2006.
New listings for detached, attached and apartment properties declined 1.7 per cent to 4,331 in August 2008 compared to August 2007, when 4,408 new units were listed.
“In August, properties on average remained on the market longer than we’ve seen in recent years,” REBGV president, Dave Watt said. “As the market heads into the traditionally more active fall season, we have begun to see property listings recede and prices moderate.”
Sales of detached properties declined 58.5 per cent to 535 in August 2008 from the 1,288 detached sales recorded during the same period in 2007. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties rose 1.6 per cent from August 2007 to $737,985. Since May 2008, the benchmark price for a detached property in Greater Vancouver has declined 4.3 per cent.
Sales of apartment properties in August 2008 declined 50.8 per cent to 740, compared to 1,504 sales in August 2007. The benchmark price of an apartment property increased 1.7 per cent from August 2007 to $374,366. Since May 2008, the benchmark price for an apartment property in Greater Vancouver has declined 3.9 per cent.
Attached property sales in August 2008 are down 50.5 per cent to 293, compared with the 592 sales in August 2007. The benchmark price of an attached unit increased 3.8 per cent in Greater Vancouver between August 2007 and 2008 to $463,433. Since May 2008, the benchmark price for an attached property in Greater Vancouver has declined 3.2 per cent.
As of August 31, 2008, active residential listings totalled 17,950 in Greater Vancouver, a 6.2 per cent decline from the 19,138 active listings seen on July 31, 2008.
Entering the fall, North Shore real estate traditionally picks up as summer vacations are over and investors and homeowners look to make moves in the market. Now is an excellent time to hunt out the perfect home or piece of property that was unavailable or impossible to purchase in the red hot market. With a more balanced market and more motivated vendors buyers can be aggressive and take ownership at prices well below asking. With great deals to be had, buyers can buy a new home and hedge either investment so as to be confident they won't lose their asset value in the near or most definitely the long term investment period. Sellers can expect their home to take longer to sell but risk-loving homeowners can possibly take advantage of trade benefits through selling and upgrading with zero additional costs.
For any questions about the current market and for confidential advice and evaluation on your real estate wants and needs consult Stuart Bell at 604.562.0532 or stu@stubell.com.
VANCOUVER, B.C. – September 3, 2008 –
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 1,568 in August 2008, a decline of 53.7 per cent from the 3,384 sales in August 2007, and a 47.7 per cent reduction from the 2,998 sales recorded in August 2006.
New listings for detached, attached and apartment properties declined 1.7 per cent to 4,331 in August 2008 compared to August 2007, when 4,408 new units were listed.
“In August, properties on average remained on the market longer than we’ve seen in recent years,” REBGV president, Dave Watt said. “As the market heads into the traditionally more active fall season, we have begun to see property listings recede and prices moderate.”
Sales of detached properties declined 58.5 per cent to 535 in August 2008 from the 1,288 detached sales recorded during the same period in 2007. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties rose 1.6 per cent from August 2007 to $737,985. Since May 2008, the benchmark price for a detached property in Greater Vancouver has declined 4.3 per cent.
Sales of apartment properties in August 2008 declined 50.8 per cent to 740, compared to 1,504 sales in August 2007. The benchmark price of an apartment property increased 1.7 per cent from August 2007 to $374,366. Since May 2008, the benchmark price for an apartment property in Greater Vancouver has declined 3.9 per cent.
Attached property sales in August 2008 are down 50.5 per cent to 293, compared with the 592 sales in August 2007. The benchmark price of an attached unit increased 3.8 per cent in Greater Vancouver between August 2007 and 2008 to $463,433. Since May 2008, the benchmark price for an attached property in Greater Vancouver has declined 3.2 per cent.
As of August 31, 2008, active residential listings totalled 17,950 in Greater Vancouver, a 6.2 per cent decline from the 19,138 active listings seen on July 31, 2008.
Entering the fall, North Shore real estate traditionally picks up as summer vacations are over and investors and homeowners look to make moves in the market. Now is an excellent time to hunt out the perfect home or piece of property that was unavailable or impossible to purchase in the red hot market. With a more balanced market and more motivated vendors buyers can be aggressive and take ownership at prices well below asking. With great deals to be had, buyers can buy a new home and hedge either investment so as to be confident they won't lose their asset value in the near or most definitely the long term investment period. Sellers can expect their home to take longer to sell but risk-loving homeowners can possibly take advantage of trade benefits through selling and upgrading with zero additional costs.
For any questions about the current market and for confidential advice and evaluation on your real estate wants and needs consult Stuart Bell at 604.562.0532 or stu@stubell.com.
Sunday, August 31, 2008
Open House Sunday August 31
#1105- 175 W2nd Ave- Lower Lonsdale, North Vancouver, 2-4pm.
Priced to sell!! The Ventana is North Vancouver's newest development and your opportunity to enjoy the best of what Lower Lonsdale has to offer. This 1 bdrm 1 bath unit is perched on the top floor facing south featuring spectacular city & ocean views. Enjoy open concept living, top of the line Fridgidaire/Fischer Paykel appliances, composite stone kitchen counter top/island and huge light-filled windows. Close to all amenities, restaurants, seabus, etc. and features a fully equipped exercise room. GST Paid, exceptionally value in a wonderul community. Offered proudly for $410,000!
Priced to sell!! The Ventana is North Vancouver's newest development and your opportunity to enjoy the best of what Lower Lonsdale has to offer. This 1 bdrm 1 bath unit is perched on the top floor facing south featuring spectacular city & ocean views. Enjoy open concept living, top of the line Fridgidaire/Fischer Paykel appliances, composite stone kitchen counter top/island and huge light-filled windows. Close to all amenities, restaurants, seabus, etc. and features a fully equipped exercise room. GST Paid, exceptionally value in a wonderul community. Offered proudly for $410,000!
Thursday, August 28, 2008
OPEN HOUSES AUGUST 28 10-12AM
I am proud to present two magnificent estates in the British Properties of prestigious West Vancouver.
The first home is located at 625 Glenmaroon Road and is offered for $3,995,000.
Stunning swimming pool and sports court on this 22,000 SF lot compliment this custom built 6 bedroom home with meticulous wood finishings and professional grade appliances. Come by and tour this one-of-a-kind family home!
A brand new 6,000 Sf architectural masterpiece, located at 617 Glenmaroon Road is offered exclusively for $6,195,000.
This brand new custom built family home is an outstanding example of high quality contemporary west coast architecture available today in the entire lower mainland. Designed by master Architect Einar Carlson, constructed by Genie award winning builder Mark Patitucci, this incredibly cool home is for the discerning buyer who appreciates outstanding quality of design and construction. A U-shaped structure surrounding an interior courtyard complete with a covered porch, features an in ground hot tub and swimming pool and a combination of Zen and lush west coast park like gardens. Inside, a stunning array of blue stone, limestone, slate and feature tile wall hard surfaces, American Cherry hardwood, and the most amazing kitchen and Great Room. Six ensuite bedrooms, in home theatre, wine cellar and gymnasium.
The first home is located at 625 Glenmaroon Road and is offered for $3,995,000.
Stunning swimming pool and sports court on this 22,000 SF lot compliment this custom built 6 bedroom home with meticulous wood finishings and professional grade appliances. Come by and tour this one-of-a-kind family home!
A brand new 6,000 Sf architectural masterpiece, located at 617 Glenmaroon Road is offered exclusively for $6,195,000.
This brand new custom built family home is an outstanding example of high quality contemporary west coast architecture available today in the entire lower mainland. Designed by master Architect Einar Carlson, constructed by Genie award winning builder Mark Patitucci, this incredibly cool home is for the discerning buyer who appreciates outstanding quality of design and construction. A U-shaped structure surrounding an interior courtyard complete with a covered porch, features an in ground hot tub and swimming pool and a combination of Zen and lush west coast park like gardens. Inside, a stunning array of blue stone, limestone, slate and feature tile wall hard surfaces, American Cherry hardwood, and the most amazing kitchen and Great Room. Six ensuite bedrooms, in home theatre, wine cellar and gymnasium.
Thursday, August 21, 2008
Weekend Opens August 23-24
Saturday August 23
12-2pm I am honored to host an Open at 1468 30th St in Altamont, West Vancouver.
Wonderful family home in this prime Altamont location. Over 20,000 sq. ft. of land with 200 feet of south facing frontage, including a sun drenched patio and a gorgeous 50 foot lap pool. Very rare Altamont property with some water views. The 20,000 sq. ft. lot backs on to Mathers Crescent. Well constructed home with just three owners over the years. Over 4000 sa. ft. with three bedrooms up and wonderful large living areas on the main floor. Potential for a nanny suite downstairs. Offered for $2,195,000!
2-4pm I am pleased to show The Properties by Quigg at 2225 Twin Creek Rd, Whitby Estates, West Vancouver.
Stunning views and one level living at The Properties by Quigg. Concrete construction and incredible finishings in this two bedroom and den home. Gorgeous kitchen with Miele appliances, Great Room concept plus family room. Each home has a private and secure two car garage. Air conditioned. The most stunning address perched high atop West Vancouver in prestigious Whitby Estates. Offered from $1.6 - $5.95 million!
Sunday 12-2pm I am pleased to present 3823 Marine Dr, West Bay, West Vancouver!
It is my pleasure to offer this Magnificant Home for Sale. Enjoy close-in views of the ocean. This Semi-Waterfront, One-Third of an Acre property is 8 years young and it just underwent a $500,000 Makeover. Beautiful custom kitchen with SubZero Fridge, 6 Bedrooms, 6 Bathrooms, over 6000 sf. Gated, paved driveway with a gorgeous water feature. Situated across the street from one of West Vancouver's most expensive signation of waterfront properties. Enjoy this fabulous home at an excellent price in Wet Vancouver most acclaimed neighbourhoods minutes from Dunderave and steps from Sandy Cove Beach! Offered for $2,980,000!
Sunday 2-4pm I will be presenting the Properties by Quigg at 2555 Twin Creek Rd, Whitby Estates, West Vancouer!
Stunning views and one level living at The Properties by Quigg. Concrete construction and incredible finishings in this two bedroom and den home. Gorgeous kitchen with Miele appliances, Great Room concept plus family room. Each home has a private and secure two car garage. Air conditioned. The most stunning address perched high atop West Vancouver in prestigious Whitby Estates. Offered from $1.6 - $5.95 million!
12-2pm I am honored to host an Open at 1468 30th St in Altamont, West Vancouver.
Wonderful family home in this prime Altamont location. Over 20,000 sq. ft. of land with 200 feet of south facing frontage, including a sun drenched patio and a gorgeous 50 foot lap pool. Very rare Altamont property with some water views. The 20,000 sq. ft. lot backs on to Mathers Crescent. Well constructed home with just three owners over the years. Over 4000 sa. ft. with three bedrooms up and wonderful large living areas on the main floor. Potential for a nanny suite downstairs. Offered for $2,195,000!2-4pm I am pleased to show The Properties by Quigg at 2225 Twin Creek Rd, Whitby Estates, West Vancouver.
Stunning views and one level living at The Properties by Quigg. Concrete construction and incredible finishings in this two bedroom and den home. Gorgeous kitchen with Miele appliances, Great Room concept plus family room. Each home has a private and secure two car garage. Air conditioned. The most stunning address perched high atop West Vancouver in prestigious Whitby Estates. Offered from $1.6 - $5.95 million!Sunday 12-2pm I am pleased to present 3823 Marine Dr, West Bay, West Vancouver!
It is my pleasure to offer this Magnificant Home for Sale. Enjoy close-in views of the ocean. This Semi-Waterfront, One-Third of an Acre property is 8 years young and it just underwent a $500,000 Makeover. Beautiful custom kitchen with SubZero Fridge, 6 Bedrooms, 6 Bathrooms, over 6000 sf. Gated, paved driveway with a gorgeous water feature. Situated across the street from one of West Vancouver's most expensive signation of waterfront properties. Enjoy this fabulous home at an excellent price in Wet Vancouver most acclaimed neighbourhoods minutes from Dunderave and steps from Sandy Cove Beach! Offered for $2,980,000!Sunday 2-4pm I will be presenting the Properties by Quigg at 2555 Twin Creek Rd, Whitby Estates, West Vancouer!
Stunning views and one level living at The Properties by Quigg. Concrete construction and incredible finishings in this two bedroom and den home. Gorgeous kitchen with Miele appliances, Great Room concept plus family room. Each home has a private and secure two car garage. Air conditioned. The most stunning address perched high atop West Vancouver in prestigious Whitby Estates. Offered from $1.6 - $5.95 million!
Sunday, August 17, 2008
Weekend Opens August 15-17
Friday August 15th: The Properties by Quigg, Whitby Estates, West Vancouver 2-4pm
Located in one of the most exclusive neigbourhoods in West Vancouver "Whitby Estates" this Penthouse truley represents the utmost in Luxury and Design. The design of The Properties is one of pure simplicity and understated naturalism. No man-made structure could ever compete with the grandeur of this landscape. Nestled on this sloping site just below the treeline, where forests climb toward the peak of Hollyburn Mountain. Every detail is deliberately reserved, letting nature hold centre stage. Each building is terraced into the slope and surrounded by evergreens. Enjoy panoramic ocean & City views with 12' ft. floor to ceiling windows, stainless steal Meile & Sub-zero appliances, extensive use of marble, slate, and limestone ..Call Stu for your private viewing.
Saturday August 16th : 2109 Kings Ave, Dunderave, West VancouverBeautifully appointed new contemporary home offering approximately 4100 sq.ft. of living on three spacious levels. Large open rooms with wrap around, over-sized picture windows offer a dramatic panorama of the West Vancouver shoreline to Lighthouse Park and Vancouver Island. The large open main level features dark polished floors with matching millwork, built-in custom cabinetry and extensive ceiling detail throughout. A stunning fully appointed designer kitchen features top of the line stainless steel appliances, large centre granite island and a private terrace ideal for summer entertaining. Offered for $2,395,000.
Sunday August 17th: 4317 Rockridge Rd, Caulfield, West Vancouver, BCSpectacular almost new Rockridge home, boasting over 6000 sq. ft. of luxury living space with 180 degree harbour and city views. Features include a negative edge pool and spa and gorgeous sun drenched patios and terraces. This home offers large principal rooms including stunning kitchen and family rooms and a spa like master and ensuite. There are many built-ins including a temperature controlled wine cellar, theatre and exercise rooms plus a self-contained nanny suite. A wonderful home for a family with too many extras to list. Offered for $3,995,000.
Monday, August 11, 2008
North Shore Real Estate July 2008 Update
In West Vancouver, there were 37 homes sold in July 2008 compared to 83 homes sold in July 2007 and 45 homes sold in June 2008. The West Vancouver sales to new listings ratio was 26% for the month of July. This represents a "buyer's market". The inventory of homes for sale in West Vancouver has increased by 85% compared to July 2007. In West Vancouver the sales YTD have decreased by 25% from the same time period in 2007. The year to date (YTD) average price went down slightly from $1,866,086 as of June 30, 2008 to $1,861,388 as of July 30, 2008.
In North Vancouver, there were 75 homes sold in July 2008 compared to 94 homes sold in July 2007 and 78 homes sold in June 2008. The North Vancouver sales to new listings ratio was 48% for the month of July. This represents a "balanced market". The inventory of homes for sale in North Vancouver has increased by 105% compared to July 2007. In North Vancouver the sales YTD have decreased by 20% from the same time period in 2007. The YTD average price in July 2008 ($991,669) has increased by 15% compared to July 2007 ($855,039).
Detached Homes
West Vancouver July 2008
Sales 37 - Sales YTD 368 - Avg. Price YTD $1,861,388 $- Active Listings 557 - Median Price $1,360,000
North Vancouver
Sales 75 - Sales YTD 603- Avg. Price YTD $991,669 - Active Listings 438 - Median Price $851,000
Thanks and Happy Home hunting!
Stuart Bell
www.stubell.com
604.562.0532
In North Vancouver, there were 75 homes sold in July 2008 compared to 94 homes sold in July 2007 and 78 homes sold in June 2008. The North Vancouver sales to new listings ratio was 48% for the month of July. This represents a "balanced market". The inventory of homes for sale in North Vancouver has increased by 105% compared to July 2007. In North Vancouver the sales YTD have decreased by 20% from the same time period in 2007. The YTD average price in July 2008 ($991,669) has increased by 15% compared to July 2007 ($855,039).
Detached Homes
West Vancouver July 2008
Sales 37 - Sales YTD 368 - Avg. Price YTD $1,861,388 $- Active Listings 557 - Median Price $1,360,000
North Vancouver
Sales 75 - Sales YTD 603- Avg. Price YTD $991,669 - Active Listings 438 - Median Price $851,000
Thanks and Happy Home hunting!
Stuart Bell
www.stubell.com
604.562.0532
Mortgage Tips: Using Your RRSP as a Down Payment
A great way to access cash for a down payment is through the Home Buyers Plan which is a program set up by Canada Revenue Agency (CRA - formerly Revenue Canada). The Home Buyers Plan (HBP) allows each individual who will be occupying a home to withdraw up to $20,000 from their RRSP to buy or build a home without being taxed. This would mean that three people buying a home could withdraw up to $60,000 collectively as long as they meet all of the CCRA HBP conditions.
This program is usually restricted to first time home buyers or those individuals who have not owned a home for a required period. To check out all of the conditions of eligibility please check out the CCRA website using the following link: http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/rrsp-reer/hbp-rap/menu-eng.html
In addition to the conditions outlined on the above website, the amount that you wish to withdraw for your home purchase needs to be in your RRSP for at least 90 days prior to the withdrawal. It can be withdrawn as a lump sum or as a series of withdrawals as long as they all take place in the same calendar year. Once you have made the withdrawal, you must repay this amount back to your RRSP over a 15 year period. Normally you are required to repay 1/15th each year following the withdrawal but you can repay larger amounts if you wish. By repaying the minimum amount each year there will be no personal tax liability incurred from the HBP.
Because your earnings usually increase each year it is a good idea to pay back the amount you withdrew as quickly as possible. Since the amounts that you repay to your RRSP are not tax deductible a second time, the faster you repay it, the sooner you are able to receive a higher tax deduction for your RRSP contributions in your higher income earning years. In addition to this you are receiving more years of tax sheltered growth on the entire amount while it is in your RRSP.
Please contact Stuart to answer your questions.
This program is usually restricted to first time home buyers or those individuals who have not owned a home for a required period. To check out all of the conditions of eligibility please check out the CCRA website using the following link: http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/rrsp-reer/hbp-rap/menu-eng.html
In addition to the conditions outlined on the above website, the amount that you wish to withdraw for your home purchase needs to be in your RRSP for at least 90 days prior to the withdrawal. It can be withdrawn as a lump sum or as a series of withdrawals as long as they all take place in the same calendar year. Once you have made the withdrawal, you must repay this amount back to your RRSP over a 15 year period. Normally you are required to repay 1/15th each year following the withdrawal but you can repay larger amounts if you wish. By repaying the minimum amount each year there will be no personal tax liability incurred from the HBP.
Because your earnings usually increase each year it is a good idea to pay back the amount you withdrew as quickly as possible. Since the amounts that you repay to your RRSP are not tax deductible a second time, the faster you repay it, the sooner you are able to receive a higher tax deduction for your RRSP contributions in your higher income earning years. In addition to this you are receiving more years of tax sheltered growth on the entire amount while it is in your RRSP.
Please contact Stuart to answer your questions.
Saturday, August 9, 2008
Weekend Opens August 9-10
Saturday August 9th 2-4pm
The Properties by Quigg Terrace and Penthouse
Whitby Estates, West Vancouver
The design of The Properties is one of pure simplicity and understated naturalism. No man-made structure could ever compete with the grandeur of this landscape. These seven buildings nestle on this sloping site just below the treeline, where forests climb toward the peak of Hollyburn Mountain. Every detail is deliberately reserved, letting nature hold centre stage. Each building is terraced into the slope and surrounded by evergreens; each building level is terraced so that views remain as magnificent as the sea below. Soft palettes of textured concrete and honey-toned ledgestone frame broad glass walls and windows, letting the buildings retreat into the landscape. Expansive rooms with soaring ceilings open onto massive decks and terraces, erasing boundaries between indoor and outdoor living. Call Stuart for your private showing or visit StuBell.com for more information.
#301 2225 Twin Creek offereed for $2,595,000
#401 2225 Twin Creek offered for $5,950,000
Sunday August 10th 12-2pm
4317 Rockridge Road, Caulfield, West Vancouver
Spectacular almost new Rockridge home, boasting over 6000 sq. ft. of luxury living space with 180 degree harbour and city views. Features include a negative edge pool and spa and gorgeous sun drenched patios and terraces. This home offers large principal rooms including stunning kitchen and family rooms and a spa like master and ensuite. There are many built-ins including a temperature controlled wine cellar, theatre and exercise rooms plus a self-contained nanny suite. A wonderful home for a family with too many extras to list. Spectacular!
The Properties by Quigg Terrace and Penthouse
Whitby Estates, West Vancouver
The design of The Properties is one of pure simplicity and understated naturalism. No man-made structure could ever compete with the grandeur of this landscape. These seven buildings nestle on this sloping site just below the treeline, where forests climb toward the peak of Hollyburn Mountain. Every detail is deliberately reserved, letting nature hold centre stage. Each building is terraced into the slope and surrounded by evergreens; each building level is terraced so that views remain as magnificent as the sea below. Soft palettes of textured concrete and honey-toned ledgestone frame broad glass walls and windows, letting the buildings retreat into the landscape. Expansive rooms with soaring ceilings open onto massive decks and terraces, erasing boundaries between indoor and outdoor living. Call Stuart for your private showing or visit StuBell.com for more information.
#301 2225 Twin Creek offereed for $2,595,000
#401 2225 Twin Creek offered for $5,950,000
Sunday August 10th 12-2pm
4317 Rockridge Road, Caulfield, West Vancouver
Spectacular almost new Rockridge home, boasting over 6000 sq. ft. of luxury living space with 180 degree harbour and city views. Features include a negative edge pool and spa and gorgeous sun drenched patios and terraces. This home offers large principal rooms including stunning kitchen and family rooms and a spa like master and ensuite. There are many built-ins including a temperature controlled wine cellar, theatre and exercise rooms plus a self-contained nanny suite. A wonderful home for a family with too many extras to list. Spectacular!
Wednesday, August 6, 2008
JULY '08 MARKET NEWS
Month-over-month housing prices retreat from record highs
VANCOUVER, B.C. – Aug 5, 2008 – As property listings continue to outpace sales, Greater Vancouver housing prices have drawn back, the last two months, from the record highs experienced in early 2008.
Since May 2008, housing prices, as calculated by the MLSLink Housing Price Index®, across each residential category have declined. Detached properties in Greater Vancouver declined 2.3 per cent through June and July 2008, while attached were down 1 per cent and apartment properties 2 per cent over the same period.
The overall benchmark price for all residential properties in Greater Vancouver has declined 2.1 per cent since the end of May 2008, from $568,411 to $556,605 in July 2008.
“We’re seeing more price reductions in properties listed on the market, which is having a levelling impact on the housing price increases experienced at the end of last year and into the first quarter of 2008,” said Real Estate Board of Greater Vancouver (REBGV) president, Dave Watt. “There was a slight decline in the total active listings on the market in July compared to June, which is a welcomed departure from recent trends.”
Residential property sales in Greater Vancouver declined 43.9 per cent in July 2008 to 2,174 from the 3,873 sales recorded in July 2007.
New listings for detached, attached and apartment properties increased 24 per cent to 6,104 in July 2008 compared to July 2007, when 4,924 new units were listed.
Sales of detached properties in July 2008 declined 44.2 per cent to 827 from the 1,483 units sold during the same period in 20070. The benchmark price for detached properties is up 5.4 per cent from July 2007 to $753,165.
Sales of apartment properties declined 42.3 per cent last month to 966, compared to 1,674 sales in July 2007. The benchmark price of an apartment property increased 4.7 per cent from July 2007 to $381,687.
Attached property sales in July 2008 decreased 46.8 per cent to 381, compared with the 716 sales in July 2007. The benchmark price of an attached unit increased 5.7 per cent between July 2007 and 2008 to $473,953.
The Real Estate industry is a key economic driver in British Columbia. In 2007, 38,050 homes changed hands in the Board's area generating $1.065 billion in spin-offs. Total dollar volume of residential sales set a new record at $22.25 billion and total dollar volume of all sales set a record at $22.77 billion. The Real Estate Board of Greater Vancouver is an association representing more than 9,600 REALTORS®. The Real Estate Board provides a variety of membership services, including the Multiple Listing Service®. For more information on real estate, statistics, and buying or selling a home, contact Stuart Bell.
VANCOUVER, B.C. – Aug 5, 2008 – As property listings continue to outpace sales, Greater Vancouver housing prices have drawn back, the last two months, from the record highs experienced in early 2008.
Since May 2008, housing prices, as calculated by the MLSLink Housing Price Index®, across each residential category have declined. Detached properties in Greater Vancouver declined 2.3 per cent through June and July 2008, while attached were down 1 per cent and apartment properties 2 per cent over the same period.
The overall benchmark price for all residential properties in Greater Vancouver has declined 2.1 per cent since the end of May 2008, from $568,411 to $556,605 in July 2008.
“We’re seeing more price reductions in properties listed on the market, which is having a levelling impact on the housing price increases experienced at the end of last year and into the first quarter of 2008,” said Real Estate Board of Greater Vancouver (REBGV) president, Dave Watt. “There was a slight decline in the total active listings on the market in July compared to June, which is a welcomed departure from recent trends.”
Residential property sales in Greater Vancouver declined 43.9 per cent in July 2008 to 2,174 from the 3,873 sales recorded in July 2007.
New listings for detached, attached and apartment properties increased 24 per cent to 6,104 in July 2008 compared to July 2007, when 4,924 new units were listed.
Sales of detached properties in July 2008 declined 44.2 per cent to 827 from the 1,483 units sold during the same period in 20070. The benchmark price for detached properties is up 5.4 per cent from July 2007 to $753,165.
Sales of apartment properties declined 42.3 per cent last month to 966, compared to 1,674 sales in July 2007. The benchmark price of an apartment property increased 4.7 per cent from July 2007 to $381,687.
Attached property sales in July 2008 decreased 46.8 per cent to 381, compared with the 716 sales in July 2007. The benchmark price of an attached unit increased 5.7 per cent between July 2007 and 2008 to $473,953.
The Real Estate industry is a key economic driver in British Columbia. In 2007, 38,050 homes changed hands in the Board's area generating $1.065 billion in spin-offs. Total dollar volume of residential sales set a new record at $22.25 billion and total dollar volume of all sales set a record at $22.77 billion. The Real Estate Board of Greater Vancouver is an association representing more than 9,600 REALTORS®. The Real Estate Board provides a variety of membership services, including the Multiple Listing Service®. For more information on real estate, statistics, and buying or selling a home, contact Stuart Bell.
Friday, July 25, 2008
Weekend Opens July 25-28th
Friday July 25th Stu is proud to show The Properties by Quigg from 2-4pm!
2225 Twin Creek Rd, Whitby Estates, West Vancouver
The Properties by Quigg is a Spectacular 44 unit, 7 building development at the peak of West Vancouver. Spectacular panoramic views, first class finishing, open layouts, large balconies, and absolute serenity at this very private address await! Only 6 units left, The Properties is an architectural statement, reflecting The West Coast and the gorgeous location of this rare opportunity. 4,800 SF Penthouses, 3,300 SF Terraces, and $2,000 SF Town Homes remain, priced from $1,695,000 - $5,950,000!
Saturday July 26th Stu is proud to present The Argyle by Quigg Penthouse from 12 - 2 pm!
9th & 10th floors - 2142 Argyle Avenue, Dundarave
Without a doubt it is one of the most beautiful sites in one of the world's most extraordinarily beautiful cities. This peaceful stretch of West Vancouver seafront, linked by walking path to Ambleside Beach, is the city's last available high-rise site on the water. The Argyle is truly rare in every respect. No other building matches its level of architectural innovation and interior style. Those privileged to live here will enjoy an exceptional quality of life where every detail reflects a singular passion for design excellence, homes surrounded by the restorative calm of sea and sky. Offered for $8,900,000!
Saturday July 26th Stu will be presenting 3475 Mathers Ave from 2-4pm!
3475 Mathers Ave, West Bay, West Vancouver
This completely remodelled Bradner Homes estate sits proudly in prestigious West Bay, West Vancouver. 3,200 SF on a 13,000 SF lot boasts unobstructed ocean views towards the West Side of Vancouver, a private lot amongst spectacular homes, and an ideal location within walking distance to schools, parks, and Radcliff Beach. Offered at $1,595,000!
Sunday July 27th Stu is pleased to present the 1st floor at Argyle by Quigg from 12:30 - 2pm!
1st Floor, 2142 Argyle Avenue, Dundarave, West Vancouver
A spectacular first floor home in an exclusive and peaceful 9 unit, 10-storey high rise on the oceans edge in Dundarave. Enjoy expansive views of Vancouver, Lions Gate Bridge, Stanley Park, and The How Sound from your vast outdoor living areas. High end finishing, extensive use of granite, marble, glass, and wood finishing give this residence the ultimate West Coast feel. Last unit left of it's kind, The Argyle by Quigg is rare in every respect: a living experience that can never be replicated. Newly offered at $3,495,000!
Sunday July 27th Stu will be showing 1955 22nd St frolm 2-4pm!
1955 22nd St, Dundarave, West Vancouver.
Without a doubt this is the best buy in Dundarave. Gorgeous water and city views. Value mostly in the land but the house is very livable/rentable. There are three bedrooms on the main, family room off the new kitchen and lovely games and recreation rooms down. Lot is 8316 sq. ft. Hurry on this one. Offered at $1,295,000!
2225 Twin Creek Rd, Whitby Estates, West Vancouver
The Properties by Quigg is a Spectacular 44 unit, 7 building development at the peak of West Vancouver. Spectacular panoramic views, first class finishing, open layouts, large balconies, and absolute serenity at this very private address await! Only 6 units left, The Properties is an architectural statement, reflecting The West Coast and the gorgeous location of this rare opportunity. 4,800 SF Penthouses, 3,300 SF Terraces, and $2,000 SF Town Homes remain, priced from $1,695,000 - $5,950,000!Saturday July 26th Stu is proud to present The Argyle by Quigg Penthouse from 12 - 2 pm!
9th & 10th floors - 2142 Argyle Avenue, Dundarave
Without a doubt it is one of the most beautiful sites in one of the world's most extraordinarily beautiful cities. This peaceful stretch of West Vancouver seafront, linked by walking path to Ambleside Beach, is the city's last available high-rise site on the water. The Argyle is truly rare in every respect. No other building matches its level of architectural innovation and interior style. Those privileged to live here will enjoy an exceptional quality of life where every detail reflects a singular passion for design excellence, homes surrounded by the restorative calm of sea and sky. Offered for $8,900,000!Saturday July 26th Stu will be presenting 3475 Mathers Ave from 2-4pm!
3475 Mathers Ave, West Bay, West Vancouver
This completely remodelled Bradner Homes estate sits proudly in prestigious West Bay, West Vancouver. 3,200 SF on a 13,000 SF lot boasts unobstructed ocean views towards the West Side of Vancouver, a private lot amongst spectacular homes, and an ideal location within walking distance to schools, parks, and Radcliff Beach. Offered at $1,595,000!
Sunday July 27th Stu is pleased to present the 1st floor at Argyle by Quigg from 12:30 - 2pm!
1st Floor, 2142 Argyle Avenue, Dundarave, West Vancouver
A spectacular first floor home in an exclusive and peaceful 9 unit, 10-storey high rise on the oceans edge in Dundarave. Enjoy expansive views of Vancouver, Lions Gate Bridge, Stanley Park, and The How Sound from your vast outdoor living areas. High end finishing, extensive use of granite, marble, glass, and wood finishing give this residence the ultimate West Coast feel. Last unit left of it's kind, The Argyle by Quigg is rare in every respect: a living experience that can never be replicated. Newly offered at $3,495,000!Sunday July 27th Stu will be showing 1955 22nd St frolm 2-4pm!
1955 22nd St, Dundarave, West Vancouver.
Without a doubt this is the best buy in Dundarave. Gorgeous water and city views. Value mostly in the land but the house is very livable/rentable. There are three bedrooms on the main, family room off the new kitchen and lovely games and recreation rooms down. Lot is 8316 sq. ft. Hurry on this one. Offered at $1,295,000!
Friday, July 18, 2008
June Market News Release
Market activity offers awaited relief for homebuyers
VANCOUVER, B.C. July 3, 2008
Increased property listings and moderating home prices have eased the Greater Vancouver housing market into a buyer's phase. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver declined 42.9 per cent in June 2008 to 2,425 from the 4,244 sales recorded in June 2007.
New listings for detached, attached and apartment properties increased 18.3 per cent to 6,546 in June 2008 compared to June 2007, when 5,533 new units were listed.
Although housing prices, on a year-over-year comparison, continue to show single-digit percentage increases, we are beginning to see more price reductions in properties listed on the market today, said REBGV president, Dave Watt. Homes priced at a competitive level continue to sell quickly, but it is important for people to accurately identify their home's value when putting it on the market.
Sales of detached properties in June 2008 declined 43.4 per cent to 918 from the 1,623 units sold during the same period in 2007. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties rose 7 per cent from June 2007 to $765,654.
Sales of apartment properties declined 42.7 per cent last month to 1,057, compared to 1,846 sales in June 2007. The benchmark price of an apartment property increased 7.8 per cent from June 2007 to $388,722.
Attached property sales in June 2008 decreased 41.9 per cent to 450, compared with the 775 sales in June 2007. The benchmark price of an attached unit increased 7.6 per cent between June 2007 and 2008 to $476,585.
The Real Estate industry is a key economic driver in British Columbia. In 2007, 38,050 homes changed hands in the Board's area generating $1.065 billion in spin-offs. Total dollar volume of residential sales set a new record at $22.25 billion and total dollar volume of all sales set a record at $22.77 billion. The Real Estate Board of Greater Vancouver is an association representing more than 9,600 REALTORS®. The Real Estate Board provides a variety of membership services, including the Multiple Listing Service®. For more information on real estate, statistics, and buying or selling a home, contact Stu Bell or visit www.realtylink.org.
Today's current Buyer's Market presents opportunities for home buyers to shop the market more than previous years have allowed. Now is a great time to find a home you love at an affordable price with The Olympic Games in Vancouver for the World to watch only 18 month away! Thank you and happy home hunting!
VANCOUVER, B.C. July 3, 2008
Increased property listings and moderating home prices have eased the Greater Vancouver housing market into a buyer's phase. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver declined 42.9 per cent in June 2008 to 2,425 from the 4,244 sales recorded in June 2007.
New listings for detached, attached and apartment properties increased 18.3 per cent to 6,546 in June 2008 compared to June 2007, when 5,533 new units were listed.
Although housing prices, on a year-over-year comparison, continue to show single-digit percentage increases, we are beginning to see more price reductions in properties listed on the market today, said REBGV president, Dave Watt. Homes priced at a competitive level continue to sell quickly, but it is important for people to accurately identify their home's value when putting it on the market.
Sales of detached properties in June 2008 declined 43.4 per cent to 918 from the 1,623 units sold during the same period in 2007. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties rose 7 per cent from June 2007 to $765,654.
Sales of apartment properties declined 42.7 per cent last month to 1,057, compared to 1,846 sales in June 2007. The benchmark price of an apartment property increased 7.8 per cent from June 2007 to $388,722.
Attached property sales in June 2008 decreased 41.9 per cent to 450, compared with the 775 sales in June 2007. The benchmark price of an attached unit increased 7.6 per cent between June 2007 and 2008 to $476,585.
The Real Estate industry is a key economic driver in British Columbia. In 2007, 38,050 homes changed hands in the Board's area generating $1.065 billion in spin-offs. Total dollar volume of residential sales set a new record at $22.25 billion and total dollar volume of all sales set a record at $22.77 billion. The Real Estate Board of Greater Vancouver is an association representing more than 9,600 REALTORS®. The Real Estate Board provides a variety of membership services, including the Multiple Listing Service®. For more information on real estate, statistics, and buying or selling a home, contact Stu Bell or visit www.realtylink.org.
Today's current Buyer's Market presents opportunities for home buyers to shop the market more than previous years have allowed. Now is a great time to find a home you love at an affordable price with The Olympic Games in Vancouver for the World to watch only 18 month away! Thank you and happy home hunting!
Prudential Sussex Realty #1
In 2007, Prudential Sussex Realty lead all other North Shore Companies with 646 Home Sales and $1,034,416,965 in total dollar Volume Sales!
Total Units Sold in 2007
Prudential Sussex Realty : 646
Remax : 631
Angell Hassman : 375
Royal Lepage : 238.5
Sutton Group : 160
McDonald Realty Ltd : 73
Virani and Associates : 64
Sotheby's International : 23
Source: Real Estate Board of Greater Vancouver
Total Units Sold in 2007
Prudential Sussex Realty : 646
Remax : 631
Angell Hassman : 375
Royal Lepage : 238.5
Sutton Group : 160
McDonald Realty Ltd : 73
Virani and Associates : 64
Sotheby's International : 23
Source: Real Estate Board of Greater Vancouver
Weekend Opens July 19-20th
Saturday July 19th Stu will be showing The Properties by Quigg from 12-4 pm.
2225 Twin Creek Place, Whitby Estates, West Vancouver
The Properties by Quigg is a world-class multi unit development at the peak of West Vancouver featuring spectacular panoramic views, spacious west coast interior and exterior design, and refind high end finishing. 6 units remain priced from $1,695,000 - $5,950,000. Please stop by and tour Vancouver's finest Townhomes, Terraces, and Penthouses first hand!
Sunday July 20th Stu is proud to present 3475 Mathers Avenue from 12-2pm.
3475 Mathers Avenue, West Vancouver
This West Bay view master crafted family home is ideally located in the heart of West Vancouver and boasts an abundance of stone and wood finishings, gorgeous ocean views, and lush landscaping on 12,698 ft of property. Offered at $1,595,000.
Sunday July 20th Stu is pleased to present 1468 30th St, Altamont from 2-4pm.
1468 30th St, Altamont, West Vancouver
Wonderful family home in this prime Altamont location. Over 20,000 sq. ft. of land with 200 feet of south facing frontage, including a sun drenched patio and a gorgeous 50 foot lap pool. Very rare Altamont property with water views. The 20,000 sq. ft. corner lot backs on to Mathers Crescent. Come and view this estate offered at $2,350,000!
Sunday July 20th Stu is showing 107 308 2nd St from 4:15- 5:30pm.
107 308 2nd St, Lower Lonsdale, North Vancouver
Outstanding renovation, trendy Lower Lonsdale, close to everything. Bright, clean, South-facing, tonnes of space and in-suite laundry. Brand new kitchen with all new stainless steel appliances, beautiful dark mahogany-type flooring, modern bathrooms with glass bowls in this exceptionally well lit unit. Great value at $379,900.
2225 Twin Creek Place, Whitby Estates, West Vancouver
The Properties by Quigg is a world-class multi unit development at the peak of West Vancouver featuring spectacular panoramic views, spacious west coast interior and exterior design, and refind high end finishing. 6 units remain priced from $1,695,000 - $5,950,000. Please stop by and tour Vancouver's finest Townhomes, Terraces, and Penthouses first hand!
Sunday July 20th Stu is proud to present 3475 Mathers Avenue from 12-2pm.
3475 Mathers Avenue, West Vancouver
This West Bay view master crafted family home is ideally located in the heart of West Vancouver and boasts an abundance of stone and wood finishings, gorgeous ocean views, and lush landscaping on 12,698 ft of property. Offered at $1,595,000.
Sunday July 20th Stu is pleased to present 1468 30th St, Altamont from 2-4pm.
1468 30th St, Altamont, West Vancouver
Wonderful family home in this prime Altamont location. Over 20,000 sq. ft. of land with 200 feet of south facing frontage, including a sun drenched patio and a gorgeous 50 foot lap pool. Very rare Altamont property with water views. The 20,000 sq. ft. corner lot backs on to Mathers Crescent. Come and view this estate offered at $2,350,000!
Sunday July 20th Stu is showing 107 308 2nd St from 4:15- 5:30pm.
107 308 2nd St, Lower Lonsdale, North Vancouver
Outstanding renovation, trendy Lower Lonsdale, close to everything. Bright, clean, South-facing, tonnes of space and in-suite laundry. Brand new kitchen with all new stainless steel appliances, beautiful dark mahogany-type flooring, modern bathrooms with glass bowls in this exceptionally well lit unit. Great value at $379,900.
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