2009 Year In Review
Apartment/Attached Market
West Van Apartments
214 SOLD
Lowest Sale was $181,500 Median Sale was $665,000 Highest Sale was $5,000,000 on the 11th floor in The Edgewater.
-New Project Releases were The Evelyn by Arthur Erickson and Millenium.
-Newly completed projevts were The Argyle by British Properties, Dundarave Village Point, and Parkview Place by Linda Burger & Associates.
North Van Apartments
1442 SOLD
Lowest Sale price was $120,000 Median Sale was $414,000 and The Highest Sale was $1,465,000 for The Penthouse at The Observatory.
-Newly completed Projects were Vista Place, The Brook, The Addisson, Branches in Lynn Valley by Polygon and The Gateway.
-In 2010 look forward to the completion of The Pier in Lower Lonsdale and Pinnacle Hotel, as well as the beginning of new high rise projects in central Lonsdale and Vicinity in Lynn Valley.
Van Apartments
In Downtown Vancouver there were 3481 Attached Sales in 2009. The lowest sale was $130,000 for a share in The Marriott Hotel and the highest sale on MLS was $6.5 million for 4000 sq ft in The Shaw Tower.
-Newly completed projects included Concord Pacific's TV Towers, The Shangri La hotel and Residences, The Landmark Woodwards Towers in Gastown striving to redefine the Vancouver East side and restore its glory from the mid 20th Century as well as the Espana towers by Henderson Development. Raffles on Robson, The Hudson and L'Aria feature exquisite affordable living in prime downtown locations, and the long anticipated completion of The Grace on Richards St in Yaletown brings European elegance to a very modern and trendy neighborhood. The completion of Crossroads and new Commercial big block retailers Best Buy, Canadian Tire, and The Brick, as well as the New Canada Line has transformed Camby and Broadway into a new urban oasis.
-In 2010 look forward to the completion of 3 Harbor Green, Hotel Georgia, The Erickson in Yaletown and the beginning of The Ritz-Carlton in Coal Harbour, The Mark, V6A, and Social by Onni, and new projects in up and coming False Creek East including Pinnacle and Maynards Block by Aquilini.
The Apartment Market outlook for 2010 looks very optimistic with a lot of first time home buyers itching to enter the market, investors still keen on putting money into the bust-proof bubble that is Vancouver Real Estate, immigration numbers steadily rising, job-growth in many of BC's sectors, and real estate fundamentals such as low interest rates projected to remain favorable into 2011.
Home/ Detached Market
West Vancouver
690 Homes SOLD, the lowest sale was $592,000, the Median Sale was $1,365,000, and the Highest sale was $10,650,000 for a waterfront masterpiece.
In 2010, look for new home development in The British Properties as the 1200 sq ft building elevation maximum spreads Westward into the base of Cypress Mountain towards Caulfield, as well as a lot of redevelopment and renovation in West Vancouver's most desired areas of 2009, Dundarave, Ambleside, and Caulfield.
North Vancouver
1100 Homes SOLD. The lowest sale was $370,000 for 875 sq ft Lynnmour, the Median sale was $830,000 and the highest sale was $4,325,000 for a mansion in Dollarton.
Vancouver
1761 Homes Sold. The lowest sale price was $320,000 for a leasehold property, the Median was $1,749,000, and the highest Sales were $15,200,000 and $14,800,000 in Point Grey.
Summary:
After a dismal 2008 that saw a financial collapse in The US, complete loss of consumer confidence Worldwide, and a Real Estate collapse in many parts of The World including almost no activity in Vancouver and a 15% decline in Vancouver home prices leaving consumers wondering if it would ever recover, it already has!
Activity in Vancouver reached all time highs in July, August, and September and the red-hot Real Estate market has continued to be busy into the Winter. Prices have fully recovered and now sit where they stood in 2007 and at all time highs. This leaves the pessimist to doubt if we can go any higher. I forsee a stable market moving forward in 2010. The Olympics and interest rates are question marks as to how the world and Vancouverites will react and do as affordability, real estate fundamentals, consumer confidence, and supply and demand will undoubtedly unfold the story for us in 2010.
For all you Vancouver Real Estate inquiries please contact Stu Bell at stu@stubell.com or call at 604.562.0532. Thank You to my clients, friends, and business associates in 2009, it was amazing and unforgettable year at Prudential Sussex Realty! Thank You, here's to a healthy, prosperous, and fulfilling 2010!
Copyright 2009 Stu Bell Real Estate Systems
Monday, December 28, 2009
2009 Year in Review
2009 Year In Review
Apartment/Attached Market
West Van Apartments
214 SOLD
Lowest Sale was $181,500 Median Sale was $665,000 Highest Sale was $5,000,000 on the 11th floor in The Edgewater.
-New Project Releases were The Evelyn by Arthur Erickson and Millenium.
-Newly completed projevts were The Argyle by British Properties, Dundarave Village Point, and Parkview Place by Linda Burger & Associates.
North Van Apartments
1442 SOLD
Lowest Sale price was $120,000 Median Sale was $414,000 and The Highest Sale was $1,465,000 for The Penthouse at The Observatory.
-Newly completed Projects were Vista Place, The Brook, The Addisson, Branches in Lynn Valley by Polygon and The Gateway.
-In 2010 look forward to the completion of The Pier in Lower Lonsdale and Pinnacle Hotel, as well as the beginning of new high rise projects in central Lonsdale and Vicinity in Lynn Valley.
Van Apartments
In Downtown Vancouver there were 3481 Attached Sales in 2009. The lowest sale was $130,000 for a share in The Marriott Hotel and the highest sale on MLS was $6.5 million for 4000 sq ft in The Shaw Tower.
-Newly completed projects included Concord Pacific's TV Towers, The Shangri La hotel and Residences, The Landmark Woodwards Towers in Gastown striving to redefine the Vancouver East side and restore its glory from the mid 20th Century as well as the Espana towers by Henderson Development. Raffles on Robson, The Hudson and L'Aria feature exquisite affordable living in prime downtown locations, and the long anticipated completion of The Grace on Richards St in Yaletown brings European elegance to a very modern and trendy neighborhood. The completion of Crossroads and new Commercial big block retailers Best Buy, Canadian Tire, and The Brick, as well as the New Canada Line has transformed Camby and Broadway into a new urban oasis.
-In 2010 look forward to the completion of 3 Harbor Green, Hotel Georgia, The Erickson in Yaletown and the beginning of The Ritz-Carlton in Coal Harbour, The Mark, V6A, and Social by Onni, and new projects in up and coming False Creek East including Pinnacle and Maynards Block by Aquilini.
The Apartment Market outlook for 2010 looks very optimistic with a lot of first time home buyers itching to enter the market, investors still keen on putting money into the bust-proof bubble that is Vancouver Real Estate, immigration numbers steadily rising, job-growth in many of BC's sectors, and real estate fundamentals such as low interest rates projected to remain favorable into 2011.
Home/ Detached Market
West Vancouver
690 Homes SOLD, the lowest sale was $592,000, the Median Sale was $1,365,000, and the Highest sale was $10,650,000 for a waterfront masterpiece.
In 2010, look for new home development in The British Properties as the 1200 sq ft building elevation maximum spreads Westward into the base of Cypress Mountain towards Caulfield, as well as a lot of redevelopment and renovation in West Vancouver's most desired areas of 2009, Dundarave, Ambleside, and Caulfield.
North Vancouver
1100 Homes SOLD. The lowest sale was $370,000 for 875 sq ft Lynnmour, the Median sale was $830,000 and the highest sale was $4,325,000 for a mansion in Dollarton.
Vancouver
1761 Homes Sold. The lowest sale price was $320,000 for a leasehold property, the Median was $1,749,000, and the highest Sales were $15,200,000 and $14,800,000 in Point Grey.
Summary:
After a dismal 2008 that saw a financial collapse in The US, complete loss of consumer confidence Worldwide, and a Real Estate collapse in many parts of The World including almost no activity in Vancouver and a 15% decline in Vancouver home prices leaving consumers wondering if it would ever recover, it already has!
Activity in Vancouver reached all time highs in July, August, and September and the red-hot Real Estate market has continued to be busy into the Winter. Prices have fully recovered and now sit where they stood in 2007 and at all time highs. This leaves the pessimist to doubt if we can go any higher. I forsee a stable market moving forward in 2010. The Olympics and interest rates are question marks as to how the world and Vancouverites will react and do as affordability, real estate fundamentals, consumer confidence, and supply and demand will undoubtedly unfold the story for us in 2010.
For all you Vancouver Real Estate inquiries please contact Stu Bell at stu@stubell.com or call at 604.562.0532. Thank You to my clients, friends, and business associates in 2009, it was amazing and unforgettable year at Prudential Sussex Realty! Thank You, here's to a healthy, prosperous, and fulfilling 2010!
Copyright 2009 Stu Bell Real Estate Systems
Apartment/Attached Market
West Van Apartments
214 SOLD
Lowest Sale was $181,500 Median Sale was $665,000 Highest Sale was $5,000,000 on the 11th floor in The Edgewater.
-New Project Releases were The Evelyn by Arthur Erickson and Millenium.
-Newly completed projevts were The Argyle by British Properties, Dundarave Village Point, and Parkview Place by Linda Burger & Associates.
North Van Apartments
1442 SOLD
Lowest Sale price was $120,000 Median Sale was $414,000 and The Highest Sale was $1,465,000 for The Penthouse at The Observatory.
-Newly completed Projects were Vista Place, The Brook, The Addisson, Branches in Lynn Valley by Polygon and The Gateway.
-In 2010 look forward to the completion of The Pier in Lower Lonsdale and Pinnacle Hotel, as well as the beginning of new high rise projects in central Lonsdale and Vicinity in Lynn Valley.
Van Apartments
In Downtown Vancouver there were 3481 Attached Sales in 2009. The lowest sale was $130,000 for a share in The Marriott Hotel and the highest sale on MLS was $6.5 million for 4000 sq ft in The Shaw Tower.
-Newly completed projects included Concord Pacific's TV Towers, The Shangri La hotel and Residences, The Landmark Woodwards Towers in Gastown striving to redefine the Vancouver East side and restore its glory from the mid 20th Century as well as the Espana towers by Henderson Development. Raffles on Robson, The Hudson and L'Aria feature exquisite affordable living in prime downtown locations, and the long anticipated completion of The Grace on Richards St in Yaletown brings European elegance to a very modern and trendy neighborhood. The completion of Crossroads and new Commercial big block retailers Best Buy, Canadian Tire, and The Brick, as well as the New Canada Line has transformed Camby and Broadway into a new urban oasis.
-In 2010 look forward to the completion of 3 Harbor Green, Hotel Georgia, The Erickson in Yaletown and the beginning of The Ritz-Carlton in Coal Harbour, The Mark, V6A, and Social by Onni, and new projects in up and coming False Creek East including Pinnacle and Maynards Block by Aquilini.
The Apartment Market outlook for 2010 looks very optimistic with a lot of first time home buyers itching to enter the market, investors still keen on putting money into the bust-proof bubble that is Vancouver Real Estate, immigration numbers steadily rising, job-growth in many of BC's sectors, and real estate fundamentals such as low interest rates projected to remain favorable into 2011.
Home/ Detached Market
West Vancouver
690 Homes SOLD, the lowest sale was $592,000, the Median Sale was $1,365,000, and the Highest sale was $10,650,000 for a waterfront masterpiece.
In 2010, look for new home development in The British Properties as the 1200 sq ft building elevation maximum spreads Westward into the base of Cypress Mountain towards Caulfield, as well as a lot of redevelopment and renovation in West Vancouver's most desired areas of 2009, Dundarave, Ambleside, and Caulfield.
North Vancouver
1100 Homes SOLD. The lowest sale was $370,000 for 875 sq ft Lynnmour, the Median sale was $830,000 and the highest sale was $4,325,000 for a mansion in Dollarton.
Vancouver
1761 Homes Sold. The lowest sale price was $320,000 for a leasehold property, the Median was $1,749,000, and the highest Sales were $15,200,000 and $14,800,000 in Point Grey.
Summary:
After a dismal 2008 that saw a financial collapse in The US, complete loss of consumer confidence Worldwide, and a Real Estate collapse in many parts of The World including almost no activity in Vancouver and a 15% decline in Vancouver home prices leaving consumers wondering if it would ever recover, it already has!
Activity in Vancouver reached all time highs in July, August, and September and the red-hot Real Estate market has continued to be busy into the Winter. Prices have fully recovered and now sit where they stood in 2007 and at all time highs. This leaves the pessimist to doubt if we can go any higher. I forsee a stable market moving forward in 2010. The Olympics and interest rates are question marks as to how the world and Vancouverites will react and do as affordability, real estate fundamentals, consumer confidence, and supply and demand will undoubtedly unfold the story for us in 2010.
For all you Vancouver Real Estate inquiries please contact Stu Bell at stu@stubell.com or call at 604.562.0532. Thank You to my clients, friends, and business associates in 2009, it was amazing and unforgettable year at Prudential Sussex Realty! Thank You, here's to a healthy, prosperous, and fulfilling 2010!
Copyright 2009 Stu Bell Real Estate Systems
Tuesday, December 15, 2009
Friday, December 11, 2009
Thursday, December 10, 2009
Brody Development Begins Sales for Vicinity in Lynn Valley
Vicinity at Lynn Valley North Vancouver Townhomes for Sale - The Vicinity Townhouses Are Located in the Lynn Valley Real Estate Neighbourhood
November 2009 Update - 5 Homes Sold - 9 Vicinity North Vancouver Lynn Valley Townhomes remain at presale pricing (HST included!)
New Lynn Valley Homes for Sale at the Vicinity North Vancouver Townhomes
Sales launch for the North Vancouver Vicinity Townhomes at Lynn Valley real estate market place are taking place this weekend.A Brody Development features lifestyle living in the heart of Lynn Valley North Vancouver real estate market. Marketed as Vicinity at Lynn Valley homes for sale, these new townhouses are located in one of the most sought after neighbourhoods that has been going through a major transformation and revitalization over the past decade. Living in close proximity to nature trails, shopping and urban services are what the new North Vancouver Vicinity Townhomes in Lynn Valley real estate market can offer potential homebuyers. In addition to all the great outdoor recreation options and pursuits in and around Lynn Valley North Shore, the Vicinity townhomes also over a very peaceful and quiet neighbourhood with tree lined streets and pedestrian friendly walkways. Located right at Lynn Valley Road and Mountain Highway, these new Norh Vancouver homes for sale at Vicinity Townhouses are also family friendly, allowing many Lynn Valley residents to stay in a community in which they grew up in and know very well. Fromme Mountain and tonnes of parks, hiking/biking trails in addition to Lynn Canyon Park are just a stone throw away from the new Vicinity North Vancouver Lynn Valley homes for sale. In addition, these presale North Shore townhouses will also be within a short drive to the popular Karen Magnussen Recreation Centre where you will find a skating rink, swimming pool, wave pool, fitness gym and many other aerobic and community group activities. The new Town Centre with its brand new library in addition to the Lynn Valley Mall are also very close to the new North Vancouver Vicinity Townhomes in Lynn Valley real estate market, making life, work, and play very convenient for residents at this new Brody Development. Offering a very rare opportunity for a truly urban lifestyle within a quiet neighbourhood on the North Shore, these new Lynn Valley homes for sale at Vicinity North Vancouver are now previewing for sales.
NEWS FLASH: Tim has set up a presentation gallery (trailer) on-site with all the floorplans and pricing. For advanced previewing of the Vicinity Lynn Valley homes for sale in North Vancouver, please contact Tim today for all the details. Currently accepting offers and already in the presales phase, these new North Vancouver Vicinity townhomes in Lynn Valley will be sold out very soon.
Brody Development Launches Vicinity Lynn Valley Homes for Sale
Marketing by Tim of RE/MAX, one of the best and most established agents on the North Shore, Brody Developments has launched the boutique Vicinity Lynn Valley homes in North Vancouver real esate market. Vicinity Lynn Valley townhouses is a rare opportunity that offers residents and home buyers an extraordinary lifestyle, a home surrounded by the natural beauty of North Vancouver, together with the amenities and conveniences of Lynn Valley City Centre. With more than thirty years of building experience, Brody Developments is best known for their quality construction, superior finishing and attention to detail in the building of distinctive, sustainable real estate developments that complement the beauty of their natural surroundings. The interiors of the Brody Development Vicinity Lynn Valley homes for sale in North Vancouver is by award winning architect Integra Architecture Inc. The Vicinity North Vancouver townhomes definitely have a distinct West Coast craftsman architecture with Forma Design Inc in charge of the landscaping. With trees and greenery native to the area and showcases of stonework by local artisans, the exterior architecture and landscaping at the North Vancouver Vicinity Lynn Valley homes for sale are absolutely stunning from looking at their renderings. All floor plans at the Lynn Valley Vicinity homes are either three or four bedroom homes and the finishing palettes are designed by Janet Marx Interior Design. Nine foot ceilings, imported slate/tile floors in the kitchens, bathrooms, entryways in addition to fireplaces with custom surrounds and Energy Star appliances in the spacious kitchens are just some great interior design features and finishes here at the North Vancouver Vicinity Lynn Valley homes for sale. Add in separate enclosed showers from soaker tubs, designer styled cabinetry, large bedrooms and heated floors, and you have a luxurious residence in the heart of the Lynn Valley real estate market. Sustainability and environmental sensitivity have always been priorities for Brody Development. Vicinity Lynn Valley homes was constructed with durable, sustainable materials and present appliances and other household features which promote energy efficiency and resource conservation.
Vicinity Lynn Valley Homes Open House This Weekend!
Prospective Vicinity Residents; Thank you for your interest in our newest North Vancouver Lynn Valley real estate project. Like the ones before it, Vicinity promises to be a premier Lynn Valley address in the neighborhood. We will begin marketing the Viciniy at Lynn Valley homes for sale this weekend. Our North Vancouver Vicinity Sales Office is located on site at 3015 Baird Street and open from 12 - 4 pm both Saturday and Sunday. If for some reason you cannot make those times feel free to call me and we will make an appointment that is convenient for you to view the new Lynn Valley Vicinity Homes in North Vancouver. I hope to see you over the weekend. Thanks, Tim at Re/Max Crest Realty. 604.889.9447.
The Interiors and Other Features at Vicinity at Lynn Valley Homes
The West Coast craftsman townhomes for sale at the Lynn Valley Vicinity family townhomes and are designed by Janet Marx.The interiors of these fabulous new North Vancouver townhomes for sale are designed to maximize comfort, style and room and are by Janet Marx interior design group. Homebuyers will have the ability to choose between two beautiful finishing palettes, both of which are sophisticated and elegant, and won’t go out of style the minute you move in. The new North Vancouver townhomes at Vicinity at Lynn Valley homes will incorporate luxury features and finishes throughout the residences that include wood baseboards and molding, panelleled doors with distinct hardware, nine foot ceilings on the main living level and fireplaces with custom built and designed mantles. In addition, the kitchens, bathrooms and entry way at the Lynn Valley Vicinity townhomes for sale will feature imported tile/slate floors and the sumptuous bathrooms will have in floor radiant heating technology to keep you warm. Every detail has been taken care of by Brody Development at the North Shore Vicinity Townhomes at Lynn Valley homes for sale including closet organizers in the bedrooms, in suite washer and dryer (stackable to save room), mini blinds on most of the windows in your home, IAQ labelled high-end carpeting in the bedrooms as well as designer light fixtures with Decora rocker light switches throughout. The kitchens at the new Lynn Valley Vicinity Homes in North Vancouver property market are also very well finished and equipped with designer cabinets, granite countertops in addition to Energy Star appliance set including microwave, double bowl sink, garburator, freezer/fridge combo, self cleaning gas range. Your North Shore home purchase will also include a natural gas barbeque oulet on the patio, recess and pendant halogen lighting, vegetable sprayer and chrome facuet in addition to built in recycling bin, roll out pot drawers for convenience, a handy spice drawer and lazy susan setup to maximize your storage capabilities. In terms of the bathrooms at the new North Vancouver Vicinity Townhomes in Lynn Valley, you can expect spacious master ensuites with heated in floor tiling, acrylic soaker tubs, separate enclosed walk-in shower with tiled surround, designer cabinetry, chrome faucets and granite/laminate counters.
More Amenities at the Lynn Valley Vicinity North Shore Townhouses
located in the revitalized North Vancouver property district of Lynn Valley North Shore, the Vicinity Homes are by Integra Architects.Vicinity at Lynn Valley real estate development provides superior craftsmanship and thoughtful details that are unmatched by any other North Vancouer condo offering. The architecture is designed by Integra Architecture Inc, and is a true West Coast Craftsman style. In addition, all new North Vancouver Lynn Valley Vicinity floor plans will have three bedroom layouts with double car garages, two parking stalls per home and lots of storage area. There are also two units at the Vicinity at Lynn Valley North Shore Townhouses that offer four bedrooms, which are ideal for growing families. Construction is 2”x6” and the exterior of the townhouses will have sustainable siding material that is low maintenance and very durable. In addition, there is forced air heating, natural gas fired hot water, Energy Star rated double glazed windows throughout and wood trim, molding and fascia. Party Wall soundproofing has been incorporated to reduce sound transfer and the new presale North Vancouver townhomes at Vicinity Living will provie sprinkler systems and the 2-5-10 year home warranty on all new purchases. The exterior landscaping for the Lynn Valley Vicinity townhouse community will be designed by Forma Design Inc and the exteriors will have stonework by local artisans, lots of greenery and two decks or patios per floor plan. The gardens are fully irrigated for low maintenance living and there are also privacy partitions between each new Vicinity North Vancouver home in Lynn Valley real estate market. There is enclosed parking for each townhome in addition to smoke/CO2 detectors hard wired, and deadbolt security entry locks, remote control overhead door openers and sprinkler systems for your safey and security here at the Vicinity at Lynn Valley homes for sale. Sustainability is a key success for the Vicinity North Vancouver townhome development and each homeowner will receive a Silver Rating/Built GREEN checklist. There are four optional upgrades that include: electric range, appliance package upgrade, hardwood flooring and vacuum canister.
The New North Vancouver Vicinity at Lynn Valley Townhouses for Sale
Coming Soon! The Vicinity North Vancouver Lynn Valley townhouse development is coming soon to the North Shore’s most popular and sought after neighbourhood! North Vancouver lifestyle with an urban edge is available. 14 distincitve well appointed North Vancouver townhomes at Vicinity Lynn Valley real estate market surrounded by the beauty and tranquility of Nature, but with shopping, urban amenities and outdoor recreation just steps away from home. For more information about the new North Vancouver Townhomes at Vicinity Lynn Valley townhouses for sale, please visit www.vicinityliving.com today. Real estate marketing for the Vicinity North Vancouver townhomes for sale is by Tim at 604.990.0003, RE/MAX. The luxury North Van townhomes at Vicinity at Lynn Valley are brought to you by Brody Development Group. There are five floor plans featured at Vicinity North Shore that includes Peak Plan A that is 1424 to 1431 sq ft, Park Plan B which is 1412 to 1418 sq ft, Canyon Plan C which is 1553 – 1568 sf, Library Plan D which is 1385 square feet, and Town floorplan E which is 1491 square feet in size.
See images and get more info here: http://www.vancouver-real-estate-direct.com/blog/labels/North%20Vancouver%20Real%20Estate.html
November 2009 Update - 5 Homes Sold - 9 Vicinity North Vancouver Lynn Valley Townhomes remain at presale pricing (HST included!)
New Lynn Valley Homes for Sale at the Vicinity North Vancouver Townhomes
Sales launch for the North Vancouver Vicinity Townhomes at Lynn Valley real estate market place are taking place this weekend.A Brody Development features lifestyle living in the heart of Lynn Valley North Vancouver real estate market. Marketed as Vicinity at Lynn Valley homes for sale, these new townhouses are located in one of the most sought after neighbourhoods that has been going through a major transformation and revitalization over the past decade. Living in close proximity to nature trails, shopping and urban services are what the new North Vancouver Vicinity Townhomes in Lynn Valley real estate market can offer potential homebuyers. In addition to all the great outdoor recreation options and pursuits in and around Lynn Valley North Shore, the Vicinity townhomes also over a very peaceful and quiet neighbourhood with tree lined streets and pedestrian friendly walkways. Located right at Lynn Valley Road and Mountain Highway, these new Norh Vancouver homes for sale at Vicinity Townhouses are also family friendly, allowing many Lynn Valley residents to stay in a community in which they grew up in and know very well. Fromme Mountain and tonnes of parks, hiking/biking trails in addition to Lynn Canyon Park are just a stone throw away from the new Vicinity North Vancouver Lynn Valley homes for sale. In addition, these presale North Shore townhouses will also be within a short drive to the popular Karen Magnussen Recreation Centre where you will find a skating rink, swimming pool, wave pool, fitness gym and many other aerobic and community group activities. The new Town Centre with its brand new library in addition to the Lynn Valley Mall are also very close to the new North Vancouver Vicinity Townhomes in Lynn Valley real estate market, making life, work, and play very convenient for residents at this new Brody Development. Offering a very rare opportunity for a truly urban lifestyle within a quiet neighbourhood on the North Shore, these new Lynn Valley homes for sale at Vicinity North Vancouver are now previewing for sales.
NEWS FLASH: Tim has set up a presentation gallery (trailer) on-site with all the floorplans and pricing. For advanced previewing of the Vicinity Lynn Valley homes for sale in North Vancouver, please contact Tim today for all the details. Currently accepting offers and already in the presales phase, these new North Vancouver Vicinity townhomes in Lynn Valley will be sold out very soon.
Brody Development Launches Vicinity Lynn Valley Homes for Sale
Marketing by Tim of RE/MAX, one of the best and most established agents on the North Shore, Brody Developments has launched the boutique Vicinity Lynn Valley homes in North Vancouver real esate market. Vicinity Lynn Valley townhouses is a rare opportunity that offers residents and home buyers an extraordinary lifestyle, a home surrounded by the natural beauty of North Vancouver, together with the amenities and conveniences of Lynn Valley City Centre. With more than thirty years of building experience, Brody Developments is best known for their quality construction, superior finishing and attention to detail in the building of distinctive, sustainable real estate developments that complement the beauty of their natural surroundings. The interiors of the Brody Development Vicinity Lynn Valley homes for sale in North Vancouver is by award winning architect Integra Architecture Inc. The Vicinity North Vancouver townhomes definitely have a distinct West Coast craftsman architecture with Forma Design Inc in charge of the landscaping. With trees and greenery native to the area and showcases of stonework by local artisans, the exterior architecture and landscaping at the North Vancouver Vicinity Lynn Valley homes for sale are absolutely stunning from looking at their renderings. All floor plans at the Lynn Valley Vicinity homes are either three or four bedroom homes and the finishing palettes are designed by Janet Marx Interior Design. Nine foot ceilings, imported slate/tile floors in the kitchens, bathrooms, entryways in addition to fireplaces with custom surrounds and Energy Star appliances in the spacious kitchens are just some great interior design features and finishes here at the North Vancouver Vicinity Lynn Valley homes for sale. Add in separate enclosed showers from soaker tubs, designer styled cabinetry, large bedrooms and heated floors, and you have a luxurious residence in the heart of the Lynn Valley real estate market. Sustainability and environmental sensitivity have always been priorities for Brody Development. Vicinity Lynn Valley homes was constructed with durable, sustainable materials and present appliances and other household features which promote energy efficiency and resource conservation.
Vicinity Lynn Valley Homes Open House This Weekend!
Prospective Vicinity Residents; Thank you for your interest in our newest North Vancouver Lynn Valley real estate project. Like the ones before it, Vicinity promises to be a premier Lynn Valley address in the neighborhood. We will begin marketing the Viciniy at Lynn Valley homes for sale this weekend. Our North Vancouver Vicinity Sales Office is located on site at 3015 Baird Street and open from 12 - 4 pm both Saturday and Sunday. If for some reason you cannot make those times feel free to call me and we will make an appointment that is convenient for you to view the new Lynn Valley Vicinity Homes in North Vancouver. I hope to see you over the weekend. Thanks, Tim at Re/Max Crest Realty. 604.889.9447.
The Interiors and Other Features at Vicinity at Lynn Valley Homes
The West Coast craftsman townhomes for sale at the Lynn Valley Vicinity family townhomes and are designed by Janet Marx.The interiors of these fabulous new North Vancouver townhomes for sale are designed to maximize comfort, style and room and are by Janet Marx interior design group. Homebuyers will have the ability to choose between two beautiful finishing palettes, both of which are sophisticated and elegant, and won’t go out of style the minute you move in. The new North Vancouver townhomes at Vicinity at Lynn Valley homes will incorporate luxury features and finishes throughout the residences that include wood baseboards and molding, panelleled doors with distinct hardware, nine foot ceilings on the main living level and fireplaces with custom built and designed mantles. In addition, the kitchens, bathrooms and entry way at the Lynn Valley Vicinity townhomes for sale will feature imported tile/slate floors and the sumptuous bathrooms will have in floor radiant heating technology to keep you warm. Every detail has been taken care of by Brody Development at the North Shore Vicinity Townhomes at Lynn Valley homes for sale including closet organizers in the bedrooms, in suite washer and dryer (stackable to save room), mini blinds on most of the windows in your home, IAQ labelled high-end carpeting in the bedrooms as well as designer light fixtures with Decora rocker light switches throughout. The kitchens at the new Lynn Valley Vicinity Homes in North Vancouver property market are also very well finished and equipped with designer cabinets, granite countertops in addition to Energy Star appliance set including microwave, double bowl sink, garburator, freezer/fridge combo, self cleaning gas range. Your North Shore home purchase will also include a natural gas barbeque oulet on the patio, recess and pendant halogen lighting, vegetable sprayer and chrome facuet in addition to built in recycling bin, roll out pot drawers for convenience, a handy spice drawer and lazy susan setup to maximize your storage capabilities. In terms of the bathrooms at the new North Vancouver Vicinity Townhomes in Lynn Valley, you can expect spacious master ensuites with heated in floor tiling, acrylic soaker tubs, separate enclosed walk-in shower with tiled surround, designer cabinetry, chrome faucets and granite/laminate counters.
More Amenities at the Lynn Valley Vicinity North Shore Townhouses
located in the revitalized North Vancouver property district of Lynn Valley North Shore, the Vicinity Homes are by Integra Architects.Vicinity at Lynn Valley real estate development provides superior craftsmanship and thoughtful details that are unmatched by any other North Vancouer condo offering. The architecture is designed by Integra Architecture Inc, and is a true West Coast Craftsman style. In addition, all new North Vancouver Lynn Valley Vicinity floor plans will have three bedroom layouts with double car garages, two parking stalls per home and lots of storage area. There are also two units at the Vicinity at Lynn Valley North Shore Townhouses that offer four bedrooms, which are ideal for growing families. Construction is 2”x6” and the exterior of the townhouses will have sustainable siding material that is low maintenance and very durable. In addition, there is forced air heating, natural gas fired hot water, Energy Star rated double glazed windows throughout and wood trim, molding and fascia. Party Wall soundproofing has been incorporated to reduce sound transfer and the new presale North Vancouver townhomes at Vicinity Living will provie sprinkler systems and the 2-5-10 year home warranty on all new purchases. The exterior landscaping for the Lynn Valley Vicinity townhouse community will be designed by Forma Design Inc and the exteriors will have stonework by local artisans, lots of greenery and two decks or patios per floor plan. The gardens are fully irrigated for low maintenance living and there are also privacy partitions between each new Vicinity North Vancouver home in Lynn Valley real estate market. There is enclosed parking for each townhome in addition to smoke/CO2 detectors hard wired, and deadbolt security entry locks, remote control overhead door openers and sprinkler systems for your safey and security here at the Vicinity at Lynn Valley homes for sale. Sustainability is a key success for the Vicinity North Vancouver townhome development and each homeowner will receive a Silver Rating/Built GREEN checklist. There are four optional upgrades that include: electric range, appliance package upgrade, hardwood flooring and vacuum canister.
The New North Vancouver Vicinity at Lynn Valley Townhouses for Sale
Coming Soon! The Vicinity North Vancouver Lynn Valley townhouse development is coming soon to the North Shore’s most popular and sought after neighbourhood! North Vancouver lifestyle with an urban edge is available. 14 distincitve well appointed North Vancouver townhomes at Vicinity Lynn Valley real estate market surrounded by the beauty and tranquility of Nature, but with shopping, urban amenities and outdoor recreation just steps away from home. For more information about the new North Vancouver Townhomes at Vicinity Lynn Valley townhouses for sale, please visit www.vicinityliving.com today. Real estate marketing for the Vicinity North Vancouver townhomes for sale is by Tim at 604.990.0003, RE/MAX. The luxury North Van townhomes at Vicinity at Lynn Valley are brought to you by Brody Development Group. There are five floor plans featured at Vicinity North Shore that includes Peak Plan A that is 1424 to 1431 sq ft, Park Plan B which is 1412 to 1418 sq ft, Canyon Plan C which is 1553 – 1568 sf, Library Plan D which is 1385 square feet, and Town floorplan E which is 1491 square feet in size.
See images and get more info here: http://www.vancouver-real-estate-direct.com/blog/labels/North%20Vancouver%20Real%20Estate.html
Tuesday, December 8, 2009
Various Forms of Real Estate Ownership
(1) Joint Tenancy: property owned by two or more people at the same time in equal shares; typically referred to as the four unities (unity of time, title, interest and possession vesting in each joint tenant). Each joint tenant has an undivided right to possess the whole property and a proportionate right of equal ownership interest. When one joint tenant dies, his/her interest automatically vests in the surviving joint tenant(s) by operation of law. Words in the deed such as "John and Mary, as joint tenants with right of survivorship and not as tenants in common" establishes title in joint tenancy. Not all the states allow this form of property ownership.
(2) Tenancy in the Entirety: some states have a special form of joint tenancy when the joint tenants are husband and wife -- with each owning one-half. Neither spouse can sell the property without the consent of the other. Words in the deed such as "John and Mary, husband and wife as tenancy in the entirety" establishes title in tenancy by the entireties.
(3) Sole Ownership: owned entirely by one person. Words in the deed such as "John, a single man" establishes title as sole ownership.
(4) Tenants in Common: property owned by two or more persons at the same time. The proportionate interests and right to possess and enjoy the property between the tenants in common do not have to be equal. Upon death, the decedent' s interest passes to his/her heirs named in the will who then become new tenants in common with the surviving tenants in common. Words in the deed such as "Peter, Paul, John and Mary as tenants in common" establishes tenancy in common.
(5) Community Property: only in states that recognize community property, a special form of joint tenancy between husband and wife, each owning one-half. Upon death, the decedent's interest passes in a manner similar to tenants in common. Words in the deed such as "John and Mary, husband and wife as community property" establishes community property ownership.
(2) Tenancy in the Entirety: some states have a special form of joint tenancy when the joint tenants are husband and wife -- with each owning one-half. Neither spouse can sell the property without the consent of the other. Words in the deed such as "John and Mary, husband and wife as tenancy in the entirety" establishes title in tenancy by the entireties.
(3) Sole Ownership: owned entirely by one person. Words in the deed such as "John, a single man" establishes title as sole ownership.
(4) Tenants in Common: property owned by two or more persons at the same time. The proportionate interests and right to possess and enjoy the property between the tenants in common do not have to be equal. Upon death, the decedent' s interest passes to his/her heirs named in the will who then become new tenants in common with the surviving tenants in common. Words in the deed such as "Peter, Paul, John and Mary as tenants in common" establishes tenancy in common.
(5) Community Property: only in states that recognize community property, a special form of joint tenancy between husband and wife, each owning one-half. Upon death, the decedent's interest passes in a manner similar to tenants in common. Words in the deed such as "John and Mary, husband and wife as community property" establishes community property ownership.
Different Forms of Real Estate Title
Freehold
The complete and unrestricted title to land.
Undivided Interest
An ownership right to use and possession of a property that is shared among co-owners, with no one co-owner having exclusive rights to any portion of the property. For example, ten investors form a Tenancy in Common and purchase a 100-acre tract of land. Each cotenant obtains an undivided interest in the property. All decisions as to the use and disposition of the land are made collectively by all cotenants. No one cotenant may unilaterally mortgage, develop, or sell a portion of the tract. A partnership tax return is filed. Each co-owner also includes a share of the income, loss, gain, etc., in his/her own personal income tax return.
Shares in a CO-Operative
Cooperative members do not own real estate but have shares in the Cooperative Corporation.
Shareholders have the right to occupy individual units in a building, reflecting their share in the Coop Corporation which owns the property.
Cooperatives operate for the benefit of their members, on a non-profit basis, in order to provide them with housing and community services at the lowest cost.
Cooperatives and Condominiums operate in similar ways. Co-op members set the rules and elect between themselves a Board of Directors, which runs the Corporation.
Daily operations of the Cooperative are usually taken care of by a professional management company hired by the Board of Directors. However, unlike condo unit owners, members of the Cooperative are expected to participate more in the community.
The complete and unrestricted title to land.
Undivided Interest
An ownership right to use and possession of a property that is shared among co-owners, with no one co-owner having exclusive rights to any portion of the property. For example, ten investors form a Tenancy in Common and purchase a 100-acre tract of land. Each cotenant obtains an undivided interest in the property. All decisions as to the use and disposition of the land are made collectively by all cotenants. No one cotenant may unilaterally mortgage, develop, or sell a portion of the tract. A partnership tax return is filed. Each co-owner also includes a share of the income, loss, gain, etc., in his/her own personal income tax return.
Shares in a CO-Operative
Cooperative members do not own real estate but have shares in the Cooperative Corporation.
Shareholders have the right to occupy individual units in a building, reflecting their share in the Coop Corporation which owns the property.
Cooperatives operate for the benefit of their members, on a non-profit basis, in order to provide them with housing and community services at the lowest cost.
Cooperatives and Condominiums operate in similar ways. Co-op members set the rules and elect between themselves a Board of Directors, which runs the Corporation.
Daily operations of the Cooperative are usually taken care of by a professional management company hired by the Board of Directors. However, unlike condo unit owners, members of the Cooperative are expected to participate more in the community.
Saturday, December 5, 2009
Friday, December 4, 2009
West Vancouver Apartments @ Sunset
Sunset Panoramics from Ambelside Beach, Dundarave, and Whitby Estates/British Properties West Vancouver.
For all your West Vancouver Apartment needs please visit WestVanApartments.com or email Stu@StuBell.com, or call Stu at 604.562.0532.
Wednesday, December 2, 2009
November 2009 Real Estate Statistics
December 2, 2009
November Stats
Strong demand carries into late fall
Home values continued to edge upward in November as demand in the Greater Vancouver housing market remains well above seasonal norms.
Over the last 12 months, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 12.4 per cent to $557,384 from $495,704 in November 2008. This price, however, remains down 1.9 per cent from the most recent high point in the market in May 2008 when the residential benchmark price sat at $568,411.
“This unseasonably high level of demand can be attributed in large part to low interest rates, but it also speaks to the diverse range of housing options available in Greater Vancouver,” Scott Russell, Real Estate Board of Greater Vancouver (REBGV) president said. “Prospective homebuyers today have more options at different price levels than ever before."
The REBGV reports that residential property sales in November were the third highest volume ever recorded in Greater Vancouver for that month. Sales in the region totalled 3,083 in November 2009, an increase of 252.7 per cent compared to November 2008 when 874 sales were recorded and a 16.8 per cent decrease compared to the 3,704 sales recorded in October 2009.
“We are experiencing a brisker than normal market for this time of year, although we have begun to see a reduction in the number of homes listed for sale, which is normal as we head into the holiday season,” Russell said.
New listings for detached, attached and apartment properties in Greater Vancouver totalled 3,653 in November 2009. This represents a 21.3 per cent increase compared to November 2008 when 3,012 new units were listed, and a 26.6 per cent decline compared to October 2009 when 4,977 properties were listed on the Multiple Listing Service® (MLS®) in Greater Vancouver.
At 11,039, the total number of property listings on the MLS® decreased 8.6 per cent in November compared to last month and declined 39 per cent from this time last year.
In contrast to this year, note that November 2008 was the lowest selling November in Greater Vancouver in 27 years.
Sales of detached properties increased 261.5 per cent to 1,164 from the 322 detached sales recorded during the same period in 2008. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties increased 13.6 per cent from November 2008 to $757,209.
Sales of apartment properties in November 2009 increased 240.5 per cent to 1,396 compared to 410 sales in November 2008. The benchmark price of an apartment property increased 11.6 per cent from November 2008 to $381,945.
Attached property sales in November 2009 are up 268.3 per cent to 523, compared with the 142 sales in November 2008. The benchmark price of an attached unit increased 10.2 per cent between Novembers 2008 and 2009 to $469,686.
Download the complete stats package by clicking here.
Listen to Scott Russell's November 2009 Market Summary 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.
For more information please contact:
Stu Bell
Prudential Sussex Realty
Phone: 605.562.0532
Email: stu@stubell.com
Website: www.StuBell.com
copyright© real estate board of greater vancouver. all rights reserved.
November Stats
Strong demand carries into late fall
Home values continued to edge upward in November as demand in the Greater Vancouver housing market remains well above seasonal norms.
Over the last 12 months, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 12.4 per cent to $557,384 from $495,704 in November 2008. This price, however, remains down 1.9 per cent from the most recent high point in the market in May 2008 when the residential benchmark price sat at $568,411.
“This unseasonably high level of demand can be attributed in large part to low interest rates, but it also speaks to the diverse range of housing options available in Greater Vancouver,” Scott Russell, Real Estate Board of Greater Vancouver (REBGV) president said. “Prospective homebuyers today have more options at different price levels than ever before."
The REBGV reports that residential property sales in November were the third highest volume ever recorded in Greater Vancouver for that month. Sales in the region totalled 3,083 in November 2009, an increase of 252.7 per cent compared to November 2008 when 874 sales were recorded and a 16.8 per cent decrease compared to the 3,704 sales recorded in October 2009.
“We are experiencing a brisker than normal market for this time of year, although we have begun to see a reduction in the number of homes listed for sale, which is normal as we head into the holiday season,” Russell said.
New listings for detached, attached and apartment properties in Greater Vancouver totalled 3,653 in November 2009. This represents a 21.3 per cent increase compared to November 2008 when 3,012 new units were listed, and a 26.6 per cent decline compared to October 2009 when 4,977 properties were listed on the Multiple Listing Service® (MLS®) in Greater Vancouver.
At 11,039, the total number of property listings on the MLS® decreased 8.6 per cent in November compared to last month and declined 39 per cent from this time last year.
In contrast to this year, note that November 2008 was the lowest selling November in Greater Vancouver in 27 years.
Sales of detached properties increased 261.5 per cent to 1,164 from the 322 detached sales recorded during the same period in 2008. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties increased 13.6 per cent from November 2008 to $757,209.
Sales of apartment properties in November 2009 increased 240.5 per cent to 1,396 compared to 410 sales in November 2008. The benchmark price of an apartment property increased 11.6 per cent from November 2008 to $381,945.
Attached property sales in November 2009 are up 268.3 per cent to 523, compared with the 142 sales in November 2008. The benchmark price of an attached unit increased 10.2 per cent between Novembers 2008 and 2009 to $469,686.
Download the complete stats package by clicking here.
Listen to Scott Russell's November 2009 Market Summary 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.
For more information please contact:
Stu Bell
Prudential Sussex Realty
Phone: 605.562.0532
Email: stu@stubell.com
Website: www.StuBell.com
copyright© real estate board of greater vancouver. all rights reserved.
Saturday, November 14, 2009
OPEN HOUSE Sunday November 15th 2-4PM
Lovely 3 bedroom, 1/2 duplex; perfect for first time buyers or retired couples. Situated in Central Lonsdale for easy access to all of the amenities. Enjoy one level living with a lovely patio and fenced yard. Call Stu Bell for more details at 604.562.0532.
Saturday, October 24, 2009
September GVRD Real Estate Statistics
REBGV September Stats
Buyer demand remains strong while home listings increase
More supply and continued demand means stabilized prices as inventory increases creating more competition for sellers and more selection for buyers.
Sales of apartment properties in September 2009 increased 94.9 per cent to 1,489, compared to 764 sales in September 2008. The benchmark price of an apartment property increased 1.5 per cent from September 2008 to $374,686.
Greater Vancouver home sales remained strong last month, with the second highest number of residential sales ever recorded for the month of September.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 3,559 in September 2009, an increase of 3.4 per cent from the 3,441 sales recorded in August 2009, and an increase of 124.5 per cent compared to September 2008 when 1,585 sales were recorded.
“As homes sales in Greater Vancouver continued at an elevated pace in September it’s encouraging to see that more homes were listed on the MLS® in the month than any other so far this year,” Scott Russell, REBGV president said.
New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,764 in September 2009. This represents a 6.2 per cent decline compared to September 2008 when 6,142 new units were listed, but a 26.8 per cent increase compared to August 2009 when 4,544 properties were listed on the Multiple Listing Service® (MLS®) in Greater Vancouver.
At 12,596, the total number of property listings on the MLS® increased 5.5 per cent in September compared to last month and declined 36 per cent from the 19,852 homes listed for sale during the buyer’s market that was experienced at this time last year.
“During this period of renewed demand in our marketplace, home values have gradually recovered from the declines that occurred in 2008,” said Russell.
Since the beginning of the year, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver has increased 13 per cent to $547,092 from $484,211, while home prices compared to Septembers 2008 levels are up 1.6 per cent.
Sales of detached properties increased 160.6 per cent to 1,423 from the 546 detached sales recorded during the same period in 2008. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties increased 2.1 per cent from September 2008 to $741,632.
Sales of apartment properties in September 2009 increased 94.9 per cent to 1,489, compared to 764 sales in September 2008. The benchmark price of an apartment property increased 1.5 per cent from September 2008 to $374,686.
Attached property sales in September 2009 are up 135.3 per cent to 647, compared with the 275 sales in September 2008. The benchmark price of an attached unit increased 0.4 per cent between Septembers 2008 and 2009 to $466,276.
Get the Complete Stats PAckage with Graphs Here: http://www.rebgv.org/sites/default/files/REBGV%20Stats%20Package_September%202009.pdf
If you have any questions please feel free to contact Stu Bell at anytime at 604.562.0532 or stu@stubell.com.
Buyer demand remains strong while home listings increase
More supply and continued demand means stabilized prices as inventory increases creating more competition for sellers and more selection for buyers.
Sales of apartment properties in September 2009 increased 94.9 per cent to 1,489, compared to 764 sales in September 2008. The benchmark price of an apartment property increased 1.5 per cent from September 2008 to $374,686.
Greater Vancouver home sales remained strong last month, with the second highest number of residential sales ever recorded for the month of September.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 3,559 in September 2009, an increase of 3.4 per cent from the 3,441 sales recorded in August 2009, and an increase of 124.5 per cent compared to September 2008 when 1,585 sales were recorded.
“As homes sales in Greater Vancouver continued at an elevated pace in September it’s encouraging to see that more homes were listed on the MLS® in the month than any other so far this year,” Scott Russell, REBGV president said.
New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,764 in September 2009. This represents a 6.2 per cent decline compared to September 2008 when 6,142 new units were listed, but a 26.8 per cent increase compared to August 2009 when 4,544 properties were listed on the Multiple Listing Service® (MLS®) in Greater Vancouver.
At 12,596, the total number of property listings on the MLS® increased 5.5 per cent in September compared to last month and declined 36 per cent from the 19,852 homes listed for sale during the buyer’s market that was experienced at this time last year.
“During this period of renewed demand in our marketplace, home values have gradually recovered from the declines that occurred in 2008,” said Russell.
Since the beginning of the year, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver has increased 13 per cent to $547,092 from $484,211, while home prices compared to Septembers 2008 levels are up 1.6 per cent.
Sales of detached properties increased 160.6 per cent to 1,423 from the 546 detached sales recorded during the same period in 2008. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties increased 2.1 per cent from September 2008 to $741,632.
Sales of apartment properties in September 2009 increased 94.9 per cent to 1,489, compared to 764 sales in September 2008. The benchmark price of an apartment property increased 1.5 per cent from September 2008 to $374,686.
Attached property sales in September 2009 are up 135.3 per cent to 647, compared with the 275 sales in September 2008. The benchmark price of an attached unit increased 0.4 per cent between Septembers 2008 and 2009 to $466,276.
Get the Complete Stats PAckage with Graphs Here: http://www.rebgv.org/sites/default/files/REBGV%20Stats%20Package_September%202009.pdf
If you have any questions please feel free to contact Stu Bell at anytime at 604.562.0532 or stu@stubell.com.
RIP Jack Poole
Rest In Peace Jack Poole (4/4/1933 - 10/23/2009). You are an inspiration, congratulations on an epic Life, and Thank You for making Vancouver what it is today. A Visionary, A Businessman, A Sportsman, A Great Canadian.
http://www.vancouversun.com/sports/2010wintergames/great+Canadian+great+westerner+great/2140502/story.html#
http://www.vancouversun.com/sports/2010wintergames/great+Canadian+great+westerner+great/2140502/story.html#
Thursday, October 22, 2009
SAT & SUN OPEN HOUSE Mira on The Park 2-4pm
Join me this Weekend from 2-4pm on Saturday and Sunday for a first look at The Mira on The Park in Booming Lower Lonsdale. This 1266 sq ft Sub Penthouse sits high above Victoria Park and features stunning Mountain, Park, and Ocean views, fitness facilities, hardwood, granite, marble, 100 sq ft patio and more! Mira on the Park is a Boutique concrete highrise with equisite finishings and exclusive living.
901-683 Victoria Park West North Vancouver
Visit http://www.NorthVanApartments.com for more information.
New Ferry connecting Coal Harbour and Ambelside!
WV approves downtown ferry link
Pilot project for foot passengers will run from 14th Street pier
Sarah Ripplinger, North Shore News
Published: Wednesday, October 21, 2009
It's anchors away for a privately operated ferry service after District of West Vancouver council agreed Monday to a proposal to transport passengers between the 14th Street pier and the Bute Street dock in downtown Vancouver.
The 70-passenger ferry service is set to launch in November as a six-month trial project. The service will be an extension of the Bowen Island to Bute Street Dock service that was set up by Coastal Link Ferries in October, 2008.
Six sailings are expected to run Monday to Friday, split between two rush-hour shifts, with a total one-way trip time of approximately 15 minutes. The morning sailings are tentatively scheduled for 7:30, 8 and 8:30 a.m. and the afternoon sailings for 4:30, 5 and 5:30 p.m. The cost for the ferry ride would be $5 one-way and $9 round trip. A special introductory fee of $4 one-way and $7 round trip would be in effect for the first month of operation according to Coastal Link's Ihab Shaker.
COASTAL Link's Bowen Island to downtown Vancouver ferry will be adding West Vancouver as a port of call come November for a six-month trial period.View Larger Image View Larger Image
COASTAL Link's Bowen Island to downtown Vancouver ferry will be adding West Vancouver as a port of call come November for a six-month trial period.
photo submitted
Email to a friend Email to a friend Printer friendly Printer friendly
Font:
"I think this is a really exciting opportunity, especially for the merchants of Ambleside and commuters going downtown," said Coun. Shannon Walker.
Walker said the ferry service could provide commuters coming to and leaving West Vancouver with a useful transportation alternative. "It's another exciting option for people to have to get home," she said.
At present, the ferry is a wholly privately operated service, but a majority of council members voted to approach TransLink for additional funding.
"We're getting shaken down by TransLink at every turn," said Coun. Michael Smith. "It's a rape of our taxpayer." Smith later apologized for the comment.
Smith proposed asking TransLink to cover a portion of the fare of each passenger travelling on the ferry. "It's ridiculous what we pay in property taxes, gas taxes and everything else to TransLink and we never get anything back, so we have to be constantly in their face saying, look we want something back for our tax dollars."
Walker opposed the motion, stating that she felt it should remain solely in the hands of a private operator.
Council discussed the possibility of expanding the dock so that people could park their boats and visit the restaurants and other commercial establishments in Ambleside. That proposal, as well as the ferry service, fits into the official community plan and Ambleside community plan, which call for the revitalization of the area.
Parking could become an issue, however, if the number of visitors to Ambleside increases substantially, Coun. Trish Panz noted.
Some all-day parking is available at Ambleside Park, said Mark Chan, manager of corporate initiatives with the district, but John Lawson Park offers only three hour parking and the others only one- to two-hour parking spaces.
As such, Chan said, the ferry service is currently being targeted towards pedestrians and cyclists.
Stephen Jenkins, manager of sustainability, said that there could also be an option for more parking near the pier.
Up to five bicycle parking spaces will be available on the ferry, according to Shaker.
Sunday, October 18, 2009
Open House 3475 Mathers, West Vancouver Oct 18th 2009
Lovely family home in a prime West Bay location. Gorgeous city and harbour views, extensively updated with great taste and style. Four bedrooms and three bathrooms, large principal rooms including a great kitchen with eating area. Meticulously maintained from top to bottom. In the sought after West Bay Elementary catchment, home of The Provinces finest IB program. Low maintenance, meticulous landscaping on a very private lot backed up against a stunning rockface. Priced at assesed value, an amazing package for the discerning buyer!
Open 2-4pm Sunday October 18th, 2009.
Friday, October 2, 2009
Weekend Opens for October 3-4
Saturday October 3rd 2009 2111 Ottawa Ave, West Vancouver, British Columbia from 2-4pm!
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!
Sunday October 4th I will be at 3475 Mathers Ave, West Vancouver from 2-4pm!
Lovely family home in a prime West Bay location. Gorgeous city and harbour views, extensively updated with great taste and style. Four bedrooms and three bathrooms, large principal rooms including a great kitchen with eating area. Meticulously maintained from top to bottom. A pleasure to show!
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!
Sunday October 4th I will be at 3475 Mathers Ave, West Vancouver from 2-4pm!
Lovely family home in a prime West Bay location. Gorgeous city and harbour views, extensively updated with great taste and style. Four bedrooms and three bathrooms, large principal rooms including a great kitchen with eating area. Meticulously maintained from top to bottom. A pleasure to show!
REBGV September Stats
October 2, 2009
September statistics suggest Buyers confidence and demand is still very high, while increased inventory means more selection for Buyers and more competition for sellers.
Get complete Stats Package for Greater Vancouver at http://www.rebgv.org/sites/default/files/REBGV%20Stats%20Package_September%202009.pdf
Greater Vancouver home sales remained strong last month, with the second highest number of residential sales ever recorded for the month of September.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 3,559 in September 2009, an increase of 3.4 per cent from the 3,441 sales recorded in August 2009, and an increase of 124.5 per cent compared to September 2008 when 1,585 sales were recorded.
“As homes sales in Greater Vancouver continued at an elevated pace in September it’s encouraging to see that more homes were listed on the MLS® in the month than any other so far this year,” Scott Russell, REBGV president said.
New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,764 in September 2009. This represents a 6.2 per cent decline compared to September 2008 when 6,142 new units were listed, but a 26.8 per cent increase compared to August 2009 when 4,544 properties were listed on the Multiple Listing Service® (MLS®) in Greater Vancouver.
At 12,596, the total number of property listings on the MLS® increased 5.5 per cent in September compared to last month and declined 36 per cent from the 19,852 homes listed for sale during the buyer’s market that was experienced at this time last year.
“During this period of renewed demand in our marketplace, home values have gradually recovered from the declines that occurred in 2008,” said Russell.
Since the beginning of the year, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver has increased 13 per cent to $547,092 from $484,211, while home prices compared to Septembers 2008 levels are up 1.6 per cent.
Sales of detached properties increased 160.6 per cent to 1,423 from the 546 detached sales recorded during the same period in 2008. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties increased 2.1 per cent from September 2008 to $741,632.
Sales of apartment properties in September 2009 increased 94.9 per cent to 1,489, compared to 764 sales in September 2008. The benchmark price of an apartment property increased 1.5 per cent from September 2008 to $374,686.
Attached property sales in September 2009 are up 135.3 per cent to 647, compared with the 275 sales in September 2008. The benchmark price of an attached unit increased 0.4 per cent between Septembers 2008 and 2009 to $466,276.
Download 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.
September statistics suggest Buyers confidence and demand is still very high, while increased inventory means more selection for Buyers and more competition for sellers.
Get complete Stats Package for Greater Vancouver at http://www.rebgv.org/sites/default/files/REBGV%20Stats%20Package_September%202009.pdf
Greater Vancouver home sales remained strong last month, with the second highest number of residential sales ever recorded for the month of September.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 3,559 in September 2009, an increase of 3.4 per cent from the 3,441 sales recorded in August 2009, and an increase of 124.5 per cent compared to September 2008 when 1,585 sales were recorded.
“As homes sales in Greater Vancouver continued at an elevated pace in September it’s encouraging to see that more homes were listed on the MLS® in the month than any other so far this year,” Scott Russell, REBGV president said.
New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,764 in September 2009. This represents a 6.2 per cent decline compared to September 2008 when 6,142 new units were listed, but a 26.8 per cent increase compared to August 2009 when 4,544 properties were listed on the Multiple Listing Service® (MLS®) in Greater Vancouver.
At 12,596, the total number of property listings on the MLS® increased 5.5 per cent in September compared to last month and declined 36 per cent from the 19,852 homes listed for sale during the buyer’s market that was experienced at this time last year.
“During this period of renewed demand in our marketplace, home values have gradually recovered from the declines that occurred in 2008,” said Russell.
Since the beginning of the year, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver has increased 13 per cent to $547,092 from $484,211, while home prices compared to Septembers 2008 levels are up 1.6 per cent.
Sales of detached properties increased 160.6 per cent to 1,423 from the 546 detached sales recorded during the same period in 2008. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties increased 2.1 per cent from September 2008 to $741,632.
Sales of apartment properties in September 2009 increased 94.9 per cent to 1,489, compared to 764 sales in September 2008. The benchmark price of an apartment property increased 1.5 per cent from September 2008 to $374,686.
Attached property sales in September 2009 are up 135.3 per cent to 647, compared with the 275 sales in September 2008. The benchmark price of an attached unit increased 0.4 per cent between Septembers 2008 and 2009 to $466,276.
Download 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.
Sunday, September 20, 2009
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~
Thursday, September 17, 2009
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.
Tuesday, September 15, 2009
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%
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!
Wednesday, September 2, 2009
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.
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.
Saturday, August 29, 2009
Low Interest Rates for Next Several Years!
Central banks signal low rates here to stay
Published in the Financial Post
OTTAWA -- Despite growing confidence that economic growth is in the offing, monetary policy around the world is likely to remain "ultra-accommodative," perhaps until 2011, as doubt remains as to whether or not the growth expected this quarter is sustainable, analysts say.
That is the view emerging following the weekend gathering of the world's leading central bankers in Jackson Hole, Wyo., highlighted by remarks from Ben Bernanke, U.S. Federal Reserve chairman, who warned of the uncertainties ahead, and Jean-Claude Trichet, president of the European Central Bank, who suggested he is in no rush to reverse emergency stimulus measures.
"The key message from Jackson Hole was ... that monetary policy is likely to remain ultra-accommodative for the foreseeable future - at least for the next several years," said Julian Jessop, chief international economist at Capital Economics of London.
"It seems more likely that there will be no increases in interest rates in any of the major economies over the next 12 to 18 months."
Strategists at RBC Capital Markets concurred, adding in a note released Monday: "We continue to believe the economic backdrop will warrant a significant additional period of low rates. Indeed, even at the Jackson Hole conference, there was not even a suggestion that we should be braced for anything other than that outcome."
This outlook applies to Canada as well. Banc of America Securities-Merrill Lynch, as part of global report on monetary policy, said it does not expect the Bank of Canada to begin raising rates until 2011 - well past its pledge to keep the key policy rate, at 0.25%, until June 2010.
Canada has a significant output gap - the difference between potential and real gross domestic product - and the rate at which money is deployed in the economy, or money velocity, has shrunk 15% since late last year even though the central bank has taken its target rate to its lowest possible level, the BofA-Merrill Lynch analysis indicates.
"To compensate, we think the Bank of Canada will probably need to keep rates lower ... to ensure that money creation remains in the double-digit [growth] territory needed to reinflate the economy and close the output gap," the report says.
This outlook is similar to what economists at Laurentian Bank Securities suggested last week. They said a lack of pricing power for firms, a sizeable amount of excess supply and virtually non-existent upward pressure from labour costs means the bulk of policy tightening would not materialize until 2011.
The Bank of Canada signalled in its last economic outlook that it expected economic growth to resume this quarter, marking, technically, the end of a deep but relatively short recession.
It expects growth this quarter of 1.3%, 3% in the final three months of 2009, and the latter again in 2010.
Further boosting the recovery story was data from Japan, Germany and France that indicated economic growth in the second quarter. But there are growing concerns about the sustainability of this emerging recovery. In a note published last week, Olivier Blanchard, chief economist of the International Monetary Fund, warned of a difficult recovery that would take years to unfold as elements of the financial system remain dysfunctional.
Of particular concern in his outlook was the source of demand once governments phased out fiscal stimuli. The worry is that U.S. business investment and household spending would remain weak, and Asian economies would fail to pick up the slack. Still, some leading central bankers warn about leaving interest rates too low too long.
Masaaki Shirakawa, governor at Bank of Japan, told his peers at Jackson Hole that policymakers must avoid economic bubbles fostered by expectations that interest rates will remain low.
"Shirakawa's point about the need to prevent future bubbles is weighing more on minds of central bankers, so maybe they do have to be a little more careful," said David Cohen, director of Asian economic forecasting at Action Economics in Singapore.
Published in the Financial Post
OTTAWA -- Despite growing confidence that economic growth is in the offing, monetary policy around the world is likely to remain "ultra-accommodative," perhaps until 2011, as doubt remains as to whether or not the growth expected this quarter is sustainable, analysts say.
That is the view emerging following the weekend gathering of the world's leading central bankers in Jackson Hole, Wyo., highlighted by remarks from Ben Bernanke, U.S. Federal Reserve chairman, who warned of the uncertainties ahead, and Jean-Claude Trichet, president of the European Central Bank, who suggested he is in no rush to reverse emergency stimulus measures.
"The key message from Jackson Hole was ... that monetary policy is likely to remain ultra-accommodative for the foreseeable future - at least for the next several years," said Julian Jessop, chief international economist at Capital Economics of London.
"It seems more likely that there will be no increases in interest rates in any of the major economies over the next 12 to 18 months."
Strategists at RBC Capital Markets concurred, adding in a note released Monday: "We continue to believe the economic backdrop will warrant a significant additional period of low rates. Indeed, even at the Jackson Hole conference, there was not even a suggestion that we should be braced for anything other than that outcome."
This outlook applies to Canada as well. Banc of America Securities-Merrill Lynch, as part of global report on monetary policy, said it does not expect the Bank of Canada to begin raising rates until 2011 - well past its pledge to keep the key policy rate, at 0.25%, until June 2010.
Canada has a significant output gap - the difference between potential and real gross domestic product - and the rate at which money is deployed in the economy, or money velocity, has shrunk 15% since late last year even though the central bank has taken its target rate to its lowest possible level, the BofA-Merrill Lynch analysis indicates.
"To compensate, we think the Bank of Canada will probably need to keep rates lower ... to ensure that money creation remains in the double-digit [growth] territory needed to reinflate the economy and close the output gap," the report says.
This outlook is similar to what economists at Laurentian Bank Securities suggested last week. They said a lack of pricing power for firms, a sizeable amount of excess supply and virtually non-existent upward pressure from labour costs means the bulk of policy tightening would not materialize until 2011.
The Bank of Canada signalled in its last economic outlook that it expected economic growth to resume this quarter, marking, technically, the end of a deep but relatively short recession.
It expects growth this quarter of 1.3%, 3% in the final three months of 2009, and the latter again in 2010.
Further boosting the recovery story was data from Japan, Germany and France that indicated economic growth in the second quarter. But there are growing concerns about the sustainability of this emerging recovery. In a note published last week, Olivier Blanchard, chief economist of the International Monetary Fund, warned of a difficult recovery that would take years to unfold as elements of the financial system remain dysfunctional.
Of particular concern in his outlook was the source of demand once governments phased out fiscal stimuli. The worry is that U.S. business investment and household spending would remain weak, and Asian economies would fail to pick up the slack. Still, some leading central bankers warn about leaving interest rates too low too long.
Masaaki Shirakawa, governor at Bank of Japan, told his peers at Jackson Hole that policymakers must avoid economic bubbles fostered by expectations that interest rates will remain low.
"Shirakawa's point about the need to prevent future bubbles is weighing more on minds of central bankers, so maybe they do have to be a little more careful," said David Cohen, director of Asian economic forecasting at Action Economics in Singapore.
Monday, August 17, 2009
More than 80,000 take a free ride on Vancouver's new Canada Line
By Kelly Sinoski , Vancouver Sun August 17, 2009 10:32 PMComments (121)
StoryPhotos ( 11 )Video ( 1 )
More Images » Grady Stanyer, 10, joined thousands of patrons who tried out the Canada Line train that officially opened Aug. 17, 2009.Photograph by: Jenelle Schneider, Vancouver SunMETRO VANCOUVER — Tens of thousands of Metro Vancouver residents waited more than two hours Monday for a free ride on the new $2-billion Canada Line, backing up several stations and clogging pockets of Vancouver’s downtown core.
The lineups started forming hours before the new rapid transit line opened at 1 p.m. and by early afternoon, the crowds snaked around Vancouver’s Waterfront Station, filled up Granville Square and spilled over onto Hastings Street in the downtown, and into the departure lounge at the airport.
By 3 p.m., TransLink was urging passengers to get off at Waterfront, YVR and Richmond-Brighouse stations and wait in line for the return trip to let others have a chance to ride the train.
Five extra trains were added during the evening rush hour — bringing the total to 19 — to help ease the crush, while 11 extra buses were brought in to help reduce the overflow crowds waiting for the 98 B-Line between Vancouver and Richmond as well as the No. 41 and No. 99 B-Line along Broadway.
“We had just about every bus pushed into service,” TransLink spokesman Drew Snider said.
The lines were capped at certain stations at 7 p.m. although TransLink said no passengers would be left stranded.
“It’s a good test for the system in terms of carrying this many people,” TransLink spokesman Ken Hardie said. “The crowds have been big, but they’ve been patient.”
Close to 10,000 people an hour were riding the line and TransLink had counted 80,000 passengers by the time the service stopped at 9 p.m.
The service was free on opening day to celebrate the opening of the transit line linking Vancouver, Richmond and the airport.
Premier Gordon Campbell and Stockwell Day, the federal minister of international trade, cut a ribbon this morning at Vancouver International Airport to officially open the new line. Then they joined other dignitaries and media for a ride into downtown Vancouver.
The opening day drew everyone from seniors to families and disabled people. At least half a dozen wheelchairs and a man with a seeing-eye dog were among those on the first train.
At Waterfront, passengers were unfazed by the long wait for the train and remained in line despite warnings they would have to get off at the airport and wait another two hours to get back on again.
It was the same at Vancouver City Centre, where some trains were terminated to ease the crush at Waterfront. At the airport, crowds stretched from the platform, down the stairs to Level 3 and out onto the departures level.
“We don’t mind waiting,” said Vancouver resident Loro Cadman, as she stood in line at Granville Square. “We’re retired and it’s an historic thing.”
Cadman said the new rapid transit line should reduce the time it takes to make her frequent trips to Steveston. Now, rather than take a bus to Richmond Centre, she can hop on the train.
Several travellers, including Shea Ferguson of Fernie, were among the first to use the new line from the airport to downtown, while Niels Goverse got to the airport using the new line.
“It’s amazing,” Goverse said. “Otherwise I would have to use the 98 B-Line and it’s really packed so this is really good. It’s definitely a better system.”
Shauna Stanyer and her two children travelled from Port Coquitlam for “an adventure” on the new line. The trio had to wait two hours at Waterfront, but Stanyer said the trip was worth it and the family would definitely take the line to the airport whenever they travelled.
Hardie said that overall, the day went fairly smoothly. There were a few glitches, including things falling on the guideway, a cranky elevator and a few problems with the doors.
Several passengers inadvertently hit the emergency stop buttons, which forced the trains to halt on the bridge over the Fraser River or at stations, and required emergency personnel to rush to the scene.
The Canada Line, which is touted as the equivalent of a 10-lane highway, is expected to take 200,000 one-way automobile trips off the road when it reaches its forecast ridership. It will start up again Tuesday with the first train leaving Waterfront at 4:50 a.m. Fares are $3.75 one way.
Hardie expects the passenger load to be lighter Tuesday, which will help TransLink ramp up slowly toward Sept. 7 and the Labour Day rush when several express buses, including those from White Rock and Delta, will no longer go downtown but will be rerouted to Bridgeport Station. The 98 B-Line will also stop running at that time, in an attempt to funnel more people onto the new line.
StoryPhotos ( 11 )Video ( 1 )
More Images » Grady Stanyer, 10, joined thousands of patrons who tried out the Canada Line train that officially opened Aug. 17, 2009.Photograph by: Jenelle Schneider, Vancouver SunMETRO VANCOUVER — Tens of thousands of Metro Vancouver residents waited more than two hours Monday for a free ride on the new $2-billion Canada Line, backing up several stations and clogging pockets of Vancouver’s downtown core.
The lineups started forming hours before the new rapid transit line opened at 1 p.m. and by early afternoon, the crowds snaked around Vancouver’s Waterfront Station, filled up Granville Square and spilled over onto Hastings Street in the downtown, and into the departure lounge at the airport.
By 3 p.m., TransLink was urging passengers to get off at Waterfront, YVR and Richmond-Brighouse stations and wait in line for the return trip to let others have a chance to ride the train.
Five extra trains were added during the evening rush hour — bringing the total to 19 — to help ease the crush, while 11 extra buses were brought in to help reduce the overflow crowds waiting for the 98 B-Line between Vancouver and Richmond as well as the No. 41 and No. 99 B-Line along Broadway.
“We had just about every bus pushed into service,” TransLink spokesman Drew Snider said.
The lines were capped at certain stations at 7 p.m. although TransLink said no passengers would be left stranded.
“It’s a good test for the system in terms of carrying this many people,” TransLink spokesman Ken Hardie said. “The crowds have been big, but they’ve been patient.”
Close to 10,000 people an hour were riding the line and TransLink had counted 80,000 passengers by the time the service stopped at 9 p.m.
The service was free on opening day to celebrate the opening of the transit line linking Vancouver, Richmond and the airport.
Premier Gordon Campbell and Stockwell Day, the federal minister of international trade, cut a ribbon this morning at Vancouver International Airport to officially open the new line. Then they joined other dignitaries and media for a ride into downtown Vancouver.
The opening day drew everyone from seniors to families and disabled people. At least half a dozen wheelchairs and a man with a seeing-eye dog were among those on the first train.
At Waterfront, passengers were unfazed by the long wait for the train and remained in line despite warnings they would have to get off at the airport and wait another two hours to get back on again.
It was the same at Vancouver City Centre, where some trains were terminated to ease the crush at Waterfront. At the airport, crowds stretched from the platform, down the stairs to Level 3 and out onto the departures level.
“We don’t mind waiting,” said Vancouver resident Loro Cadman, as she stood in line at Granville Square. “We’re retired and it’s an historic thing.”
Cadman said the new rapid transit line should reduce the time it takes to make her frequent trips to Steveston. Now, rather than take a bus to Richmond Centre, she can hop on the train.
Several travellers, including Shea Ferguson of Fernie, were among the first to use the new line from the airport to downtown, while Niels Goverse got to the airport using the new line.
“It’s amazing,” Goverse said. “Otherwise I would have to use the 98 B-Line and it’s really packed so this is really good. It’s definitely a better system.”
Shauna Stanyer and her two children travelled from Port Coquitlam for “an adventure” on the new line. The trio had to wait two hours at Waterfront, but Stanyer said the trip was worth it and the family would definitely take the line to the airport whenever they travelled.
Hardie said that overall, the day went fairly smoothly. There were a few glitches, including things falling on the guideway, a cranky elevator and a few problems with the doors.
Several passengers inadvertently hit the emergency stop buttons, which forced the trains to halt on the bridge over the Fraser River or at stations, and required emergency personnel to rush to the scene.
The Canada Line, which is touted as the equivalent of a 10-lane highway, is expected to take 200,000 one-way automobile trips off the road when it reaches its forecast ridership. It will start up again Tuesday with the first train leaving Waterfront at 4:50 a.m. Fares are $3.75 one way.
Hardie expects the passenger load to be lighter Tuesday, which will help TransLink ramp up slowly toward Sept. 7 and the Labour Day rush when several express buses, including those from White Rock and Delta, will no longer go downtown but will be rerouted to Bridgeport Station. The 98 B-Line will also stop running at that time, in an attempt to funnel more people onto the new line.
Wednesday, August 5, 2009
JULY Stats: Strong spring market carries into summer months
August 5, 2009
VANCOUVER, B.C. – August 5, 2009 – The Greater Vancouver housing market gained further momentum in July with record sales levels and a continued strengthening of home prices.
The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totalled 4,114 in July 2009, becoming the highest volume of sales ever recorded within the REBGV for that month, outpacing the 4,023 sales in July 2003, which is the only other year that July sales exceeded the 4,000 mark.
Since the beginning of the year, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver has increased 9.2 per cent to $528,821 from $484,211. However, home prices compared to July 2008 levels are down 5 per cent.
“Home sales this summer are seasonally higher than normal, which is due in large part to the price correction that has taken place in the last year and low interest rates,” Scott Russell, REBGV president said. “Although wellpriced listings and lower-to mid-range priced properties remain in the highest demand across Greater Vancouver, recent activity from first-time buyers is beginning to boost demand in the “move-up” segment of the market.”
New listings for detached, attached and apartment properties declined in Greater Vancouver, down 17.4 per cent to 5,041 in July 2009 compared to July 2008, when 6,104 new units were listed. At 12,482, the total number of property listings on the Multiple Listing Service® (MLS®) declined 5.8 per cent compared to last month and 34 per cent compared to July 2008.
“It is currently taking, on average, 48 days for a home to sell in the region. Today’s market activity differs by area and property type and it’s important to tap into local housing market expertise to understand why some properties are attracting multiple offers, while others are not moving,” Russell said.
July 2009 home sales declined 3.4 per cent compared to June 2009, but are up 89.2 per cent when measured against the 2,174 sales recorded in July 2008.
Sales of detached properties in July increased 95.2 per cent to 1,614 from the 827 detached sales recorded during the same period in 2008. The HPI benchmark price for detached properties declined 5.5 per cent from July 2008 to $711,702. Since the beginning of the year, the benchmark price for detached properties in Greater Vancouver has increased 9.8 per cent.
Sales of apartment properties in July 2009 increased 76.8 per cent to 1,708, compared to 966 sales in July 2008. The benchmark price of an apartment property declined 4.3 per cent from July 2008 to $365,291. Since the beginning of the year, the benchmark price for apartment properties in Greater Vancouver has increased 9.6 per cent.
Attached property sales in July 2009 are up 107.9 per cent to792, compared with the 381 sales in July 2008. The benchmark price of an attached unit decreased 4.6 per cent between July 2008 and 2009 to $452,085. Since the beginning of the year, the benchmark price for attached properties in Greater Vancouver has increased 6.8 per cent.
Bright spots in Greater Vancouver in July 2009 compared to July 2008:
DETACHED:
Burnaby up 121.7 per cent (153 units sold from 69)
North Vancouver up 53.3 per cent (115 units sold from 75)
Maple Ridge/Pitt Meadows up 60 per cent (160 units sold from 100)
Richmond up 140.2 per cent (221 units sold from 92)
Vancouver East up 66.4 per cent (208 units sold from 125)
Port Coquitlam up 236.4 per cent (74 units sold from 22)
Vancouver West up 104.5 per cent (180 units sold from 88)
South Delta up 203.1 per cent (97 units sold from 32)
West Vancouver up 108.1 per cent (77 units sold from 37)
Sunshine Coast up 60.5 per cent (69 units sold from 43)
ATTACHED:
Burnaby up 123.3 per cent (134 units sold from 60)
Maple Ridge/Pitt Meadows up 77.7 per cent (64 units sold from 36)
North Vancouver up 70 per cent (51 units sold from 30)
Vancouver West up 110 per cent (105 units sold from 50)
Richmond up 152.1 per cent (179 units sold from 71)
Vancouver East up 195.8 per cent (71 units sold from 24)
Port Coquitlam up 117.6 per cent (37 units sold from 17)
Maple Ridge/Pitt Meadows up 77.7 per cent (64 units sold from 36)
Coquitlam up 88.2 per cent (64 units sold from 34)
APARTMENTS:
Burnaby up 72.8 per cent (235 units sold from 136)
North Vancouver up 47.9 per cent (105 units sold from 71)
Richmond up 85.5 per cent (230 units sold from 124)
Vancouver East up 64.2 per cent (179 units sold from 109)
Vancouver West up 94 per cent (584 units sold from 301)
New Westminster up 70.6 per cent (116 units sold from 68)
Coquitlam up 62.3 per cent (86 units sold from 53)
Port Moody/Belcarra up 138.1 per cent (50 units sold from 21)
VANCOUVER, B.C. – August 5, 2009 – The Greater Vancouver housing market gained further momentum in July with record sales levels and a continued strengthening of home prices.
The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totalled 4,114 in July 2009, becoming the highest volume of sales ever recorded within the REBGV for that month, outpacing the 4,023 sales in July 2003, which is the only other year that July sales exceeded the 4,000 mark.
Since the beginning of the year, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver has increased 9.2 per cent to $528,821 from $484,211. However, home prices compared to July 2008 levels are down 5 per cent.
“Home sales this summer are seasonally higher than normal, which is due in large part to the price correction that has taken place in the last year and low interest rates,” Scott Russell, REBGV president said. “Although wellpriced listings and lower-to mid-range priced properties remain in the highest demand across Greater Vancouver, recent activity from first-time buyers is beginning to boost demand in the “move-up” segment of the market.”
New listings for detached, attached and apartment properties declined in Greater Vancouver, down 17.4 per cent to 5,041 in July 2009 compared to July 2008, when 6,104 new units were listed. At 12,482, the total number of property listings on the Multiple Listing Service® (MLS®) declined 5.8 per cent compared to last month and 34 per cent compared to July 2008.
“It is currently taking, on average, 48 days for a home to sell in the region. Today’s market activity differs by area and property type and it’s important to tap into local housing market expertise to understand why some properties are attracting multiple offers, while others are not moving,” Russell said.
July 2009 home sales declined 3.4 per cent compared to June 2009, but are up 89.2 per cent when measured against the 2,174 sales recorded in July 2008.
Sales of detached properties in July increased 95.2 per cent to 1,614 from the 827 detached sales recorded during the same period in 2008. The HPI benchmark price for detached properties declined 5.5 per cent from July 2008 to $711,702. Since the beginning of the year, the benchmark price for detached properties in Greater Vancouver has increased 9.8 per cent.
Sales of apartment properties in July 2009 increased 76.8 per cent to 1,708, compared to 966 sales in July 2008. The benchmark price of an apartment property declined 4.3 per cent from July 2008 to $365,291. Since the beginning of the year, the benchmark price for apartment properties in Greater Vancouver has increased 9.6 per cent.
Attached property sales in July 2009 are up 107.9 per cent to792, compared with the 381 sales in July 2008. The benchmark price of an attached unit decreased 4.6 per cent between July 2008 and 2009 to $452,085. Since the beginning of the year, the benchmark price for attached properties in Greater Vancouver has increased 6.8 per cent.
Bright spots in Greater Vancouver in July 2009 compared to July 2008:
DETACHED:
Burnaby up 121.7 per cent (153 units sold from 69)
North Vancouver up 53.3 per cent (115 units sold from 75)
Maple Ridge/Pitt Meadows up 60 per cent (160 units sold from 100)
Richmond up 140.2 per cent (221 units sold from 92)
Vancouver East up 66.4 per cent (208 units sold from 125)
Port Coquitlam up 236.4 per cent (74 units sold from 22)
Vancouver West up 104.5 per cent (180 units sold from 88)
South Delta up 203.1 per cent (97 units sold from 32)
West Vancouver up 108.1 per cent (77 units sold from 37)
Sunshine Coast up 60.5 per cent (69 units sold from 43)
ATTACHED:
Burnaby up 123.3 per cent (134 units sold from 60)
Maple Ridge/Pitt Meadows up 77.7 per cent (64 units sold from 36)
North Vancouver up 70 per cent (51 units sold from 30)
Vancouver West up 110 per cent (105 units sold from 50)
Richmond up 152.1 per cent (179 units sold from 71)
Vancouver East up 195.8 per cent (71 units sold from 24)
Port Coquitlam up 117.6 per cent (37 units sold from 17)
Maple Ridge/Pitt Meadows up 77.7 per cent (64 units sold from 36)
Coquitlam up 88.2 per cent (64 units sold from 34)
APARTMENTS:
Burnaby up 72.8 per cent (235 units sold from 136)
North Vancouver up 47.9 per cent (105 units sold from 71)
Richmond up 85.5 per cent (230 units sold from 124)
Vancouver East up 64.2 per cent (179 units sold from 109)
Vancouver West up 94 per cent (584 units sold from 301)
New Westminster up 70.6 per cent (116 units sold from 68)
Coquitlam up 62.3 per cent (86 units sold from 53)
Port Moody/Belcarra up 138.1 per cent (50 units sold from 21)
Wednesday, July 22, 2009
The Properties by Quigg Open House July 26th!
The 3000 sq ft Terrace and 4800 sq ft Penthouse at The Properties by Quigg will be Open from 2-4pm at 2225 Twin Creek Place on July 26th, 2009.
Come join me and enjoy the finest attached housing project in West Vancouver, featuring West Coast Contemporary design with stunning panoramic views, high end finishings, grand outdoor space, private elevators, concrete construction, and a serene, park-like setting at the top of West Vancouver in Prestigious Whitby Estates!
Only 2 units left, PRICED TO SELL!
Springfield Village- JUST SOLD!
This Brand New 1585 sq ft Townhouse in Springfield by CSM Link III Developments features ganite countertops, high end finishings throughout, stainless steel appliances, and ideal location in North Surrey. Close to schools, amenities, and transit, situated in the quite corner of the highly acclaimed Springfield Village Community, this spacious 3 storey Townhouse has everything you desire. 3 large Bedrooms up, 3 bathrooms, walk-in closets, in-suite laundry, 2 parking stalls, fireplace, and security in a Green Development complete with 2-5-10 year New Home Warranty!
Friday, July 3, 2009
June Sales 2nd Highest in Vancouver History!
VANCOUVER, B.C. – July 3, 2009 – The combination of low interest rates and more affordable pricing helped propel Greater Vancouver home sale numbers to the second all-time highest total for the month of June.
The Real Estate Board of Greater Vancouver (REBGV) reports that sales of detached, attached and apartment properties increased 75.6 per cent in June 2009 to 4,259, from the 2,425 sales recorded in June 2008. The figure is just short of the record-breaking 4,333 sales which occurred in June 2005.
New listings for detached, attached and apartment properties declined 17.9 per cent to 5,372 in June 2009 compared to June 2008, when 6,546 new units were listed. However, new listings increased 13.5 per cent from May to June of this year. Total active listings in Greater Vancouver currently sit at 13,252, down 27 per cent from June 2008 and 2.9 per cent below the active listings count at the end of May 2009.
“Price reductions and low interest rates have created an improvement in affordability, which is causing the number of sales to rise to levels comparable to 2003 to 2007,” Scott Russell, REBGV president said.
“Many people who were reluctant to purchase a home last fall and earlier this year are returning to the market because they see conditions that appeal to their personal and financial needs,” Russell said. “However, the current marketplace is such that buyers are more inclined to walk if they don’t like the terms of an offer.”
Residential benchmark prices, as calculated by the MLSLink® Housing Price Index, declined 8.2 per cent to $518,855 in June 2009 compared to June 2008.
The number of sales of detached properties increased 81.6 per cent to 1,667 from the 918 detached sales recorded during the same period in 2008. The benchmark price for detached properties declined 8.4 per cent to $701,384 in June 2009 compared to June 2008.
The number of sales of apartment properties in June 2009 increased 69.3 per cent to 1,790, compared to 1,057 sales in June 2008. The benchmark price of an apartment property declined 8.2 per cent from June 2008 to $356,880.
The number of attached property sales in June 2009 increased 78.2 per cent to 802, compared with the 450 sales in June 2008. The benchmark price of an attached unit declined 7.3 per cent between June 2009 and 2008 to $441,620.
Bright spots in Greater Vancouver in June 2009 compared to June 2008:
Detached:
Burnaby up 109.7 per cent (151 units sold from 72)
Coquitlam up 122.2 per cent (160 units sold from 72)
Delta - South up 107.7 per cent (56 units sold from 27)
Maple Ridge/Pitt Meadows up 54.3 per cent (162 units sold from 105)
New Westminster up 104.8 per cent (43 units sold from 21)
North Vancouver up 96.2 per cent (153 units sold from 78)
Port Moody/ Belcarra up 120 per cent (33 units sold from 15)
Richmond up 77.4 per cent (204 units sold from 115)
Squamish up 107.7 per cent (27 units sold from 13)
Sunshine Coast up 33.9 per cent (75 units sold from 56)
Vancouver East up 71.2 per cent (238 units sold from 139)
Vancouver West up 85.2 per cent (200 units sold from 108)
West Vancouver/Howe Sound up 117.8 per cent (98 units sold from 45)
Attached:
Burnaby up 81.8 per cent (140 units sold from 77)
Coquitlam up 80 per cent (54 units sold from 30)
Maple Ridge/Pitt Meadows up 48.6 per cent (55 units sold from 37)
North Vancouver up 121.2 per cent (73 units sold from 33)
Port Coquitlam up 82.6 per cent (42 units sold from 23)
Port Moody/ Belcarra up 77.3 per cent (39 units sold from 22)
Richmond up 84.5 per cent (155 units sold from 84)
Vancouver East up 118.5 per cent (59 units sold from 27)
Vancouver West up 121.8 per cent (122 units sold from 55)
Apartments:
Burnaby up 60.4 per cent (239 units sold from 149)
Coquitlam up 93.9 per cent (95 units sold from 49)
New Westminster up 57.1 per cent (121 units sold from 77)
North Vancouver up 71.4 per cent (120 units sold from 70)
Port Coquitlam up 58.1 per cent (49 units sold from 31)
Port Moody/Belcarra up 128.6 per cent (48 units sold from 21)
Richmond up 54.1 per cent (225 units sold from 146)
Vancouver East up 58.7 per cent (165 units sold from 104)
Vancouver West up 87.2 per cent (627 units sold from 335)
West Vancouver/Howe Sound up 155.6 per cent (23 units sold from 9)
The Real Estate Board of Greater Vancouver (REBGV) reports that sales of detached, attached and apartment properties increased 75.6 per cent in June 2009 to 4,259, from the 2,425 sales recorded in June 2008. The figure is just short of the record-breaking 4,333 sales which occurred in June 2005.
New listings for detached, attached and apartment properties declined 17.9 per cent to 5,372 in June 2009 compared to June 2008, when 6,546 new units were listed. However, new listings increased 13.5 per cent from May to June of this year. Total active listings in Greater Vancouver currently sit at 13,252, down 27 per cent from June 2008 and 2.9 per cent below the active listings count at the end of May 2009.
“Price reductions and low interest rates have created an improvement in affordability, which is causing the number of sales to rise to levels comparable to 2003 to 2007,” Scott Russell, REBGV president said.
“Many people who were reluctant to purchase a home last fall and earlier this year are returning to the market because they see conditions that appeal to their personal and financial needs,” Russell said. “However, the current marketplace is such that buyers are more inclined to walk if they don’t like the terms of an offer.”
Residential benchmark prices, as calculated by the MLSLink® Housing Price Index, declined 8.2 per cent to $518,855 in June 2009 compared to June 2008.
The number of sales of detached properties increased 81.6 per cent to 1,667 from the 918 detached sales recorded during the same period in 2008. The benchmark price for detached properties declined 8.4 per cent to $701,384 in June 2009 compared to June 2008.
The number of sales of apartment properties in June 2009 increased 69.3 per cent to 1,790, compared to 1,057 sales in June 2008. The benchmark price of an apartment property declined 8.2 per cent from June 2008 to $356,880.
The number of attached property sales in June 2009 increased 78.2 per cent to 802, compared with the 450 sales in June 2008. The benchmark price of an attached unit declined 7.3 per cent between June 2009 and 2008 to $441,620.
Bright spots in Greater Vancouver in June 2009 compared to June 2008:
Detached:
Burnaby up 109.7 per cent (151 units sold from 72)
Coquitlam up 122.2 per cent (160 units sold from 72)
Delta - South up 107.7 per cent (56 units sold from 27)
Maple Ridge/Pitt Meadows up 54.3 per cent (162 units sold from 105)
New Westminster up 104.8 per cent (43 units sold from 21)
North Vancouver up 96.2 per cent (153 units sold from 78)
Port Moody/ Belcarra up 120 per cent (33 units sold from 15)
Richmond up 77.4 per cent (204 units sold from 115)
Squamish up 107.7 per cent (27 units sold from 13)
Sunshine Coast up 33.9 per cent (75 units sold from 56)
Vancouver East up 71.2 per cent (238 units sold from 139)
Vancouver West up 85.2 per cent (200 units sold from 108)
West Vancouver/Howe Sound up 117.8 per cent (98 units sold from 45)
Attached:
Burnaby up 81.8 per cent (140 units sold from 77)
Coquitlam up 80 per cent (54 units sold from 30)
Maple Ridge/Pitt Meadows up 48.6 per cent (55 units sold from 37)
North Vancouver up 121.2 per cent (73 units sold from 33)
Port Coquitlam up 82.6 per cent (42 units sold from 23)
Port Moody/ Belcarra up 77.3 per cent (39 units sold from 22)
Richmond up 84.5 per cent (155 units sold from 84)
Vancouver East up 118.5 per cent (59 units sold from 27)
Vancouver West up 121.8 per cent (122 units sold from 55)
Apartments:
Burnaby up 60.4 per cent (239 units sold from 149)
Coquitlam up 93.9 per cent (95 units sold from 49)
New Westminster up 57.1 per cent (121 units sold from 77)
North Vancouver up 71.4 per cent (120 units sold from 70)
Port Coquitlam up 58.1 per cent (49 units sold from 31)
Port Moody/Belcarra up 128.6 per cent (48 units sold from 21)
Richmond up 54.1 per cent (225 units sold from 146)
Vancouver East up 58.7 per cent (165 units sold from 104)
Vancouver West up 87.2 per cent (627 units sold from 335)
West Vancouver/Howe Sound up 155.6 per cent (23 units sold from 9)
Friday, June 26, 2009
OPEN HOUSES June 26-28
Friday June 25 from 10-12am I am pleased to host my first agents open at 188 Keefer St, Suite #2707 at The Brand New Espana by Henderson!
Saturday, June 27th I will be hosting the first Public Open from 1-4pm. Offered proudly for %578,000! Please call Stu Bell at 604.562.0532 to arrange an appointment.
Sunday, June 28 I am please to present a true masterpiece by Linda Burger at 4769 The Highway in Olde Caulfield from 2-4pm. A must see if you love real estate! Offered proudly for $4,495,000!
Tuesday, June 23, 2009
JUST SOLD! The Taylor
This finely appointed residence is a GEM, one of the best layouts in The Taylor by Pinnacle! Bright, 2 separate bed, 2 full bath south-west corner residence with solarium and den perched high on the 23rd floor. Stunning 270 degree unobstructed views that stretch from False Creek, Science World, and the Olympic Village to the South, all the way around the West past the city to Canada Place, Lonsdale, and the Northshore Mountains over historic Gastown! In the summer BBQ on your top level Patio and watch the cruise ships departing from Coal Harbour or the Yachts sailing in False Creek. In the winter wake up to snow capped mountains and a time lapse outlook of historic brick buildings to the North West, brand new glass high-rises to the South-West, and Fairview Slopes to the South over Andy Livingston Park. Real Cherry Hardwood floors in the living area, carpeted bedrooms, tiled kitchen and baths, designer paint, granite counter-tops, and in-suite laundry complete this home. 3 Year New building with building security, high end work out facility, and undergound parking. All this with Yaletown, Gastown, Coal Harbour, Tinseltown, T&T Market, the Skytrain, GM Place, and Vancouver's Financial District at your doorstep.
JUST SOLD! Electric Avenue
Convenient luxurious living at Hornby & Smithe in the heart of thriving Downtown Vancouver! Award winning Electric Avenue by Bosa Construction! Just one block to Robson Street. Steps to Starbucks, Paramount theatre, Earls, Vancouver's Financial District, trendy Yaletown shopping, the new Canada Line & much more. Recently renovated with brand new Laminate hardwood floors, new paint. It is a 2 bed 2 bath 2 walk in closets. Enjoy the HUGE patio of over 150sqft facing Hornby Street. Great amenities includes gym, party room with pool table, and Media room located on same floor & access to two stunning roof top Gardens.
JUST SOLD! The Mandalay
This exquisitely appointed low-rise concrete residence at The Mandalay by Cressey sits peacefully in the heart of Richmond, minutes from shopping, dining, the new Canada Line, amenities, and the Vancouver International Airport. This bright, South facing top floor 1 bedroom boasts rich hardwood floors, an oversized, private balcony, thick granite countertops, your personal fireplace, walk-in closet, state of the art stainless steel appliances, in-suite laundry, miele fixtures, and secured underground parking.
JUST SOLD! Edgewater Estates
Completely renovated, top floor, 940 sq ft, south facing 2 bedroom at Edgewater Estates. This gorgeous apartment features spacious rooms, bright south-facing windows, large top floor patio with views, meticulously updated kitchen and bathroom, fresh paint, in-suite laundry, and a peaceful, park-like setting. Steps away from Capilano University, new parks, shopping and dining, schools, Park & Tilford entertainment, and all the outdoor recreational activity the Northshore has to offer. Ideal for first time home buyers, small families, and investors. Rents easily for $1400. An incredible offer for the finest 2 bedroom suite at Edgewater Estates, and the best Value today on the Northshore!
Tuesday, June 16, 2009
National Post: "Metro Vancouver Home Sales Jump!"
"Sales acitivity is now closer to the pre-recession peak than it is to the recent low point reached last January."
"Strengthening consumer confidence, low interest rates, and improved affordability are drawung buyers to the housing markets across Canada."
Sales are up 43% from January while new construction and listings are down 50%. This means the market is stabilizing nicely and new listings, when priced well, are selling fast with multiple offers.
Last night I was involved in a 26 offer bidding war for a $415,000 apartment at 670 W6th. It sold for $495,000!
Also, the National Post reports that according to RBC the worst of the recession has likely past and 2.9% growth is predicted in BC for next year!
"Strengthening consumer confidence, low interest rates, and improved affordability are drawung buyers to the housing markets across Canada."
Sales are up 43% from January while new construction and listings are down 50%. This means the market is stabilizing nicely and new listings, when priced well, are selling fast with multiple offers.
Last night I was involved in a 26 offer bidding war for a $415,000 apartment at 670 W6th. It sold for $495,000!
Also, the National Post reports that according to RBC the worst of the recession has likely past and 2.9% growth is predicted in BC for next year!
Sunday, June 14, 2009
June 14th Open House
1355 Sinclair St Open from 2-4pm!
What an incredible location for this completely, tastefully renovated contemporary Ambleside home. Architecturally designed by Kafka and meticulously renovated by Cragg Built Construction, this home has a wonderful floor plan and offers total privacy. Four bedrooms, two and one-half bathrooms, a great family/recreation room and an outstanding, sun drenched patio and swimming pool. Short walk to schools, Hay Park and the new recreation centre! Proudly offered for $1,425,000!
View Pictures and Virtual Tour at http://www.StuBell.com
What an incredible location for this completely, tastefully renovated contemporary Ambleside home. Architecturally designed by Kafka and meticulously renovated by Cragg Built Construction, this home has a wonderful floor plan and offers total privacy. Four bedrooms, two and one-half bathrooms, a great family/recreation room and an outstanding, sun drenched patio and swimming pool. Short walk to schools, Hay Park and the new recreation centre! Proudly offered for $1,425,000!
View Pictures and Virtual Tour at http://www.StuBell.com
Thursday, June 4, 2009
May GVRD Real Estate Statistics Signaling Rebound
REBGV May Statistics
Increased demand steadies housing market in Greater Vancouver
A continued increase in buyer activity over the last four months has resulted in increased home sales and lessened the downward pressure on housing prices in Greater Vancouver.
The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totalled 3,524 in May 2009, an increase of 17.4 per cent from the 3,002 sales recorded in May 2008, and an increase of 18.9 per cent compared to last month.
Since the beginning of the year, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver has increased 4.5 per cent to $506,201 from $484,211. However, home prices compared to May 2008 levels are down 10.9 per cent.
“The increased level of buyer activity over the last few months has had a stabilizing effect on home prices across our region,” Scott Russell, REBGV president said. “MLS® data continues to show a trend toward a balanced market in the region.”
New listings for detached, attached and apartment properties declined in Greater Vancouver, down 36 per cent to 4,733 in May 2009 compared to May 2008, when 7,390 new units were listed. At 13,641, the total number of property listings on the Multiple Listing Service® (MLS®) declined 4.7 per cent compared to last month and 16 per cent compared to May 2008.
Sales of detached properties increased 16.5 per cent to 1,402 from the 1,203 detached sales recorded during the same period in 2008. The HPI benchmark price for detached properties declined 11.8 per cent from May 2008 to $680,320.
Sales of apartment properties in May 2009 increased 17.2 per cent to 1,458, compared to 1,244 sales in May 2008. The benchmark price of an apartment property declined 10.2 per cent from May 2008 to $349,987.
Attached property sales in May 2009 are up 19.6 per cent to 664, compared with the 555 sales in May 2008. The benchmark price of an attached unit decreased 9 per cent between May 2008 and 2009 to $435,848.
Bright spots in Greater Vancouver in May 2009 compared to May 2008:
Detached:
Burnaby up 48.9 % (140 units sold from 94)
Maple Ridge/Pitt Meadows up 13.4 % (144 units sold from 127)
North Vancouver up 31.4 % (134 units sold from 102)
Port Moody/Belcarra up 52.6 % (29 units sold from 19)
Richmond up 14.0 $ (170 units sold from 142)
Vancouver East up 11.1 per cent (180 units sold from 162)
Vancouver West up 59.5 per cent (193 units sold from 121)
Attached:
Burnaby up 31.5 % (96 units sold from 73)
Maple Ridge/Pitt Meadows up 43.8 % (46 units sold from 32)
North Vancouver up 31.8 % (58 units sold from 44)
Vancouver West up 54.5 % (102 units sold from 66)
Apartments:
Burnaby up 32.6 % (187 units sold from 141)
North Vancouver up 22.6 % (103 units sold from 84)
Richmond up 27.4 % (200 units sold from 157)
Vancouver East up 28.7 % (139 units sold from 108)
Vancouver West up 25.4 % (529 units sold from 422)
Increased demand steadies housing market in Greater Vancouver
A continued increase in buyer activity over the last four months has resulted in increased home sales and lessened the downward pressure on housing prices in Greater Vancouver.
The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totalled 3,524 in May 2009, an increase of 17.4 per cent from the 3,002 sales recorded in May 2008, and an increase of 18.9 per cent compared to last month.
Since the beginning of the year, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver has increased 4.5 per cent to $506,201 from $484,211. However, home prices compared to May 2008 levels are down 10.9 per cent.
“The increased level of buyer activity over the last few months has had a stabilizing effect on home prices across our region,” Scott Russell, REBGV president said. “MLS® data continues to show a trend toward a balanced market in the region.”
New listings for detached, attached and apartment properties declined in Greater Vancouver, down 36 per cent to 4,733 in May 2009 compared to May 2008, when 7,390 new units were listed. At 13,641, the total number of property listings on the Multiple Listing Service® (MLS®) declined 4.7 per cent compared to last month and 16 per cent compared to May 2008.
Sales of detached properties increased 16.5 per cent to 1,402 from the 1,203 detached sales recorded during the same period in 2008. The HPI benchmark price for detached properties declined 11.8 per cent from May 2008 to $680,320.
Sales of apartment properties in May 2009 increased 17.2 per cent to 1,458, compared to 1,244 sales in May 2008. The benchmark price of an apartment property declined 10.2 per cent from May 2008 to $349,987.
Attached property sales in May 2009 are up 19.6 per cent to 664, compared with the 555 sales in May 2008. The benchmark price of an attached unit decreased 9 per cent between May 2008 and 2009 to $435,848.
Bright spots in Greater Vancouver in May 2009 compared to May 2008:
Detached:
Burnaby up 48.9 % (140 units sold from 94)
Maple Ridge/Pitt Meadows up 13.4 % (144 units sold from 127)
North Vancouver up 31.4 % (134 units sold from 102)
Port Moody/Belcarra up 52.6 % (29 units sold from 19)
Richmond up 14.0 $ (170 units sold from 142)
Vancouver East up 11.1 per cent (180 units sold from 162)
Vancouver West up 59.5 per cent (193 units sold from 121)
Attached:
Burnaby up 31.5 % (96 units sold from 73)
Maple Ridge/Pitt Meadows up 43.8 % (46 units sold from 32)
North Vancouver up 31.8 % (58 units sold from 44)
Vancouver West up 54.5 % (102 units sold from 66)
Apartments:
Burnaby up 32.6 % (187 units sold from 141)
North Vancouver up 22.6 % (103 units sold from 84)
Richmond up 27.4 % (200 units sold from 157)
Vancouver East up 28.7 % (139 units sold from 108)
Vancouver West up 25.4 % (529 units sold from 422)
Wednesday, May 27, 2009
Market Rebound
The Fraser Valley real estate market continued to show signs of rebalancing in April with the number of sales increasing for the third month in a row while the volume of available properties stayed constant. Benchmark prices for detached homes and condominiums also showed increases over the last three months.
There were 1,293 sales processed on the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) in April, reflecting a 28 per cent decrease compared to the 1,787 sales in April of last year, however, a 29 per cent increase over March sales. At the same time, the Board received 44 per cent fewer new listings compared to one year ago, 2,477 in contrast to 4,458 in April 2008, helping to stabilize the number of active listings in the Fraser Valley at 9,855.
Paul Penner, President of the Board, says current conditions have created one of the best buying opportunities in years. “REALTORS® have successfully communicated to their sellers to be more realistic with their prices, which is why we’ve seen a 29 per cent increase in sales from March to April.”
Penner also attributes the increase to all-time historically low interest rates and still relatively high inventory for Fraser Valley, although it is dropping rapidly.
“In April, REALTORS® received 44 per cent fewer new listings compared to a year ago and 18 per cent less than we received in March. When supply and demand start to balance out, the effect is that prices begin to firm up and that’s exactly what we’re seeing.” Similar to detached homes, the benchmark price for apartments has increased by 4.4 per cent over the last three months.
There were 1,293 sales processed on the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) in April, reflecting a 28 per cent decrease compared to the 1,787 sales in April of last year, however, a 29 per cent increase over March sales. At the same time, the Board received 44 per cent fewer new listings compared to one year ago, 2,477 in contrast to 4,458 in April 2008, helping to stabilize the number of active listings in the Fraser Valley at 9,855.
Paul Penner, President of the Board, says current conditions have created one of the best buying opportunities in years. “REALTORS® have successfully communicated to their sellers to be more realistic with their prices, which is why we’ve seen a 29 per cent increase in sales from March to April.”
Penner also attributes the increase to all-time historically low interest rates and still relatively high inventory for Fraser Valley, although it is dropping rapidly.
“In April, REALTORS® received 44 per cent fewer new listings compared to a year ago and 18 per cent less than we received in March. When supply and demand start to balance out, the effect is that prices begin to firm up and that’s exactly what we’re seeing.” Similar to detached homes, the benchmark price for apartments has increased by 4.4 per cent over the last three months.
Friday, May 22, 2009
Weekend Opens May 23-24
This Saturday May 23rd I will be holding an Open House at 6786 Marine Dr, West Vancouver near Whyteclyff Park. Beautiful private home located in Whyteclyff. This home was fully renovated 6 years ago, updates include new kitchen, cedar siding throughout the exterior of the home, and iced maple laminate floors. This is a perfect family home with massive sun drenched decks, your own private garden oasis, and generous sized bedrooms. A stones throw away from the beach and Gleneagles Golf Course and walking distance to Gleneagles Elementary. Priced to sell at $1,120,000!
Sunday I will be hosting an Open House at The Properties by Quigg. West Vancouver's most refined address in Whitby Estates featuring world class panoramic views, meticulous finishing, Mitchell Friedland interiors, and a pure, tranquil, and inspiring design in this distinctively West-Coast home. Don't miss out on clearance pricing as only 1 Terrace and 2 Penthouses remain!
Subscribe to:
Posts (Atom)
