Open House Sunday Sept 20th- 2111 Ottawa, West Vancouver!

Well updated revenue property in Upper Dundarave. Main level living provides a bright, spacious living area with an attached solarium and large deck from which to enjoy the view to the water and Downtown. The completely renovated kitchen is new in the last 2 years and with 3 bedrooms up you have lots of space. Below is a renovated self-contained 2 bedroom in-law suite with brand new carpets, paint and appliances. This house maximizes windows & is bright year-round and offers parking for up to 5 cars! For more information call Stu Bell at 604-562-0532~

West Vancouver Evelyn Real Estate Development Launching Previews Saturday Septmeber 19th!

The much anticipated launch of the West Vancouver Park Royal real estate project by Millennium Development Corporation is now here! Previews for these spectacular new West Vancouver condos and townhomes just north of Park Royal shopping centre will be opening at the Evelyn Presentation Centre this weekend. Check out the Evelyn offerings, floor plans, amenities and much more. From their email blast: Thank you for your interest in the luxury Evelyn West Vancouver condos for sale. As the vision of Evelyn Park Royal residences becomes a reality, we are excited to be building fine architecture, which is the inspiration of the late Arthur Erickson, one of the most respected and award winning architects of the 21st century. The presales West Vancouver Evelyn condos is on a gently sloped garden property of approximately 20 acres, ideally situated above Park Royal Village in the most sought after West Vancouver real estate market. The luxury West Van homes and condominiums are close to Ambleside and Stanley Park, with beautiful views overlooking the waterfront, Lions Gate Bridge and the downtown skyline. Public transit is steps from the Evelyn West Vancouver condos for sale with convenient automobile, bicycle and pedestrian access to downtown Vancouver via Lion's Gate Bridge. As an West Vancouver Evelyn Condominium VIP registrant we are pleased to inform you that our initial phase will be available for first previews in the weeks to come. Our Evelyn West Vancouver condo sales team will be in contact with you very soon to set up a private viewing of our fabulous new Evelyn Park Royal presentation centre located on site at Taylor Way and Keith Road. In the mean time, please click here to verify your interest in Evelyn real estate development and that you wish to be contacted. This will ensure you are placed at the top of our priority list for presales purchases at the luxury West Vancouver condominiums for sale. As a FIRST sneak peek for you - go here to view a Evelyn Condo master planned site plan illustrating the first phase of this amazing community at Evelyn West Vancouver.

Vancouver home resales up 117 per cent in August compared to one year ago

Vancouver led the nation with a whopping 117 per cent increase in home resales in August compared to August a year ago.

According to statistics released Tuesday by The Canadian Real Estate Association, Canada's resale housing market continues to rally, with 42,483 homes trading hands in August, an 18.5 per cent gain from year-ago levels.

Economists warned however that the market's outperformance in recent months is not likely to be repeated as home prices rise and the market consolidates gains.

On a month-to-month basis, in fact, homes sales dipped slightly to 42,426 units in August from 42,666 in July.

"Canada's housing market has taken its cue more from the Great Houdini than the bear (economist Noriel) Roubini, fully escaping from the clutches of a potentially lengthy, harsh downturn," said BMO Capital Markets deputy chief economist Doug Porter.

"Record-low borrowing costs combined with the growing realization that the economic storm is passing have fuelled the remarkable turnaround. However, the gaudy sales growth will be tough to maintain now that prices are moving higher again."

Resale activity rose from year-ago levels in about three quarters of local markets. Year-over-year gains of 117 per cent in Vancouver, 27 per cent in Toronto, 17 per cent in Calgary, and nine per cent in Montreal contributed most to the national increase in activity.

August marks the third consecutive month in which year-over-year sales rose by more than 15 per cent, CREA said.

Prices also rose, although they were skewed higher by growing demand in Canada's more expensive housing markets. The national average price rose 11.3 per cent from a year ago to $324,779 in August, CREA said.

A market weighted average shows a more modest 5.3 per cent year-over-year rise in average prices

"On balance, given the recent unbelievable strength in the Canadian housing market, the modest (month-to-month) down-shift in sales in August should not be seen as anything other that a brief respite in what has been a remarkable recovery in the sector," said TD Securities economics strategist Millan Mulraine.

"Even so, we believe that Canadian housing market activity in the coming months will be relatively tepid as the sector consolidates the gains made since January."

Table One

August

City / Unit sales / Change (year over year)

Calgary 2,324 +16.8%

Edmonton 1,673 +8.6%

Montreal (CMA) 2,870 +9.3%

Ottawa 1,227 +2%

Toronto 8,042 +27.3%

Greater Vancouver 3,496 +117%

Victoria 723 +47.6%

Note: CMA census metropolitan area. Figures for Toronto include data for Mississauga, Brampton, Durham, Orangeville and York. Source: The Canadian Real Estate Association.

Table Two

August

City / Average price / Change (year over year)

Calgary $388,725 -0.4%

Edmonton $318,321 -3.3%

Montreal (CMA) $276,243 +5%

Ottawa $315,176 +11.5%

Toronto $387,899 +6.3%

Greater Vancouver $608,032 +9.1%

Victoria $481,279 +6.4%

Ritz Carlton Back on Track!

http://www.vancouversun.com/travel/sign+times+Ritz+Carlton+back+track/1993809/story.html

The ultra luxury hotel/residential skyscraper The Ritz Carlton is set to continue development in Coal Harbour, Downtown Vancouver!

The massive structure will be an architectural statement climbing 60 stories into the Vancouver Skyline, mirroring it's neighbour across Georgia St, the much sought after and highly acclaimed Shangri La! The deisgn was master planned by the late and infamous Arthur Erickson. Construction is set to continue in March 2010 post 2010 Vancouver Winter Olympics.

For more information on The new Ritz Carlton contact Stu Bell today!

August Vancouver Real Estate Stats!

September 2, 2009

http://www.STUBELL.com

Vancouver Real Estate continues strong momentum as typically slow month of August yields high sales numbers as we push toward the fall, a busy time in Vancouver Real Estate, and the 2010 Vancouver Olympics this New Year.

August stats:

Market momentum carries into August
The number of home sales in Greater Vancouver increased significantly last month compared to August 2008 and moved closer in line with the active summer months experienced between 2003 and 2007.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver increased 119.5 per cent in August 2009 to 3,441 from the 1,568 sales recorded in August 2008 and increased 1.7 per cent compared to August 2007.

New listings for detached, attached and apartment properties increased 4.9 per cent to 4,544 in August 2009 compared to August 2008 when 4,331 new units were listed. Total active listings in Greater Vancouver currently sit at 11,937, down 33 per cent from August 2008.

“The return of confidence to our market has brought a high volume of home sales over the last few months and has also made determining home prices a little more challenging,” said Scott Russell, REBGV president. “The number of residential home sales this summer has been comparable to activity seen in the five years preceding 2008. While that’s great news, from the variations in activity we’re seeing across areas I’d say the market is still trying to find its own balance.”

Since the beginning of the year, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver has increased 11.4 per cent to $539,600 from $484,211. However, home prices compared to August 2008 levels are down 1.1 per cent.

Sales of detached properties in August 2009 increased 155.5 per cent to 1,367 from the 535 units sold during the same period in 2008. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties declined 0.7 per cent from August 2008 to $732,656.

Sales of apartment properties increased 97.8 per cent last month to 1,464, compared to the 740 sales in August 2008. The benchmark price of an apartment property declined 1.4 per cent from August 2008 to $369,263.

Attached property sales in August 2009 increased 108.2 per cent to 610, compared with the 293 sales during the same month in 2008. The benchmark price of an attached unit declined 0.9 per cent between August 2008 and 2009 to $459,159.


Download the complete stats package by clicking here.
The Real Estate industry is a key economic driver in British Columbia. In 2008, 24,626 homes changed hands in the Board's area generating $1.03 billion in spin-offs. The Real Estate Board of Greater Vancouver is an association representing more than 9,400 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 a local REALTOR® or visit www.rebgv.org.