Merry Christmas & Happy Holidays from mine to yours! The Christmas Holidays is an excellent time to spend with family, exchange gifts with loved ones, feast on turkey with all the fixings, and head up to Whistler to shred the slopes, but what about Real Estate?
I have received a few inquiries from clients interested in listing this December, and I have told them all the same thing, wait until the 1st or second week of January 2011. I strongly believe the first week of a listing is a critical period. In the first week all Buyers who have been searching and waiting for a property like yours with come to your open houses and request showings to view the property. If you are listed at the right price and your home is staged and shows well, then often in this first week you will receive a very good offer or ideally, multiple offers and sell for over asking. Therefor, December, when Buyers focus on their Christmas lists and entertaining guests, is not a good time to list as your critical first few weeks are compromised and when January comes around Buyers tend to jump on the New Listings while yours may appear as a dead listing with people skipping or driving by it with the assumption it hasn't sold for a reason.
As for listings that haven't sold, I would say it is personal preference to take off the market for Christmas or not. There is a benefit to canceling and re-lisintg in January as it will appear like a fresh listing and catch more eyes, but you also risk missing out on a motivated Buyer over the Holiday Season. I would cancel on Christmas Eve and re-list on the first Monday of 2011.
The other side of the game is the Buyers. There are a couple of reasons why I believe December to be a great time to write offers. Often Sellers who are listed at this time are motivated for a variety of reasons, and the thought of getting the sale over with before Christmas and New Years is very attractive. Often Sellers may need to close before year end for financial reasons. Another factor is uncertainty of the market in the New Year as December is often slow and Sellers can feel pressured to sell fearing a downturn or a slowstart to 2011. The final reason is the less likelihood for competing offers. A Buyer has a lot of power in a negotiation until another Buyer enters into the picture. Buyers, like Sellers, are busy during the Holidays and often wait until January when their lives ate less hectic and when product will undoubtedly come on the market. If you are a qualified Buyer who sees something you like then December may be the time to get an extra discount in a non-competitive situation. If you don't see the right place, then by all means wait until January and in the meantime meet with your mortgage broker to get pre-approved so you can win you dream home if a multiple offer scenario unfolds.
For all you Vancouver Real Estate inquiries please contact me anytime at 604.562.0532 or write me at stu@stubell.com.
Happy New Year Vancouver! Lets make 2011 unforgettable!
Wednesday, December 29, 2010
Monday, December 6, 2010
Trip to Seattle for Zags Basketball & to Study Local Real Estate Market
Seattle is an interesting city as it is very similar to Vancouver with major ports and a very livable city center with state-of-the-art sports facilities and architectural pleasing high rises mixed with charming historical districts. I wanted to see how prices compare to Vancouver, especially after going to Arizona and Nevada where there are thousands of foreclosures and prices have plummeted.
In the attached high end, a 6000 sq ft Penthouse at the new TEN12First hotel in downtown Seattle is asking $15,600,000. In Vancouver the 41st floor of the Shaw Tower is for sale for $12,880,000. Not bad for 7500 sq ft of single level living with 8 parking stalls and jaw-dropping panoramic views! On the attached low end, a 3 bedroom, 2 bath town-home with private garage, 1200 sq ft short sale (foreclosure) is asking $94,000. Comparatively, a 3 bed 2 bath town-home of the same age in Vancouver would go for $550,000.
For $28,800,000 you can own 14000 sq ft of Mercer Island Waterfront on a 70,000 sq ft property. In West Vancouver a 7000 sq ft Waterfront Home on a 30,000 sq ft Lot if asking $19,800,000.
Needless to say the US recession and housing crisis has affected Seattle, but not to the extremes of Arizona or Nevada. I feel there are great investment opportunities in Seattle, but would probably look to invest in California first, where comparable prices get you sea side homes in desirable communities such as San Diego.
I stayed with my good friend BJ who recently purchase a 5 bedroom, 3 bathroom home in Seattle for $550,000. It is a heritage home that was completely renovated and he picked it up as a foreclosure. He now lives with 4 friends, all GU allumni, and his mortgage is comfortably covered by the house mates. This is very smart money management for a young adult, and the same opportunity exists in Vancouver because our rents are so much higher. If you are in your 20's and have the money for a down-payment, consider this option over a condo or apartment. With the income from housemates, you can afford a house with a yard, a mailbox, a garage, and probably a much better capital gain as the appreciation will be more substantial and you will be paying your principle down faster. A comparable house to BJ's in North Vancouver would be about $700-$800,000.
If you have any questions about Vancouver Real Estate or US Real Estate Investment please feel free to contact me by phone at 604.562.0532 or by email at stu@stubell.com.
November 2010 GVRD Real Estate Stats
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Tuesday, November 30, 2010
Tsur Somerville on Current Vancouver Market Conditions
My Former Professor Tsur Somerville from UBC Real Estate Program says affordability is improving in BC as interest rates drop, prices flatten, and incomes improve.
http://www.vancouversun.com/business/Dre
Friday, November 26, 2010
The 2010 Vancouver Real Estate Market Recovery
We see a sharp decrease in values in 2008 due to global recession (worst in our trading partner to the south the US) and drop in consumer confidence, and then we see a sharp recovery. The recovery was the result of pent up demand, increased consumer confidence, Buyers rushing to Beat HST, all time low interest rates, and pre-Olympic hype and publicity.
Everyone lately has been asking me what will happen next. With high demand, high prices, and high rent rates, investors and residents are asking will anything give? Since I believe Demand will continue to grow steadily, led by new immigration and foreign direct investment, and our supply is geographically limited, the best person to ask this question to may be your banker or your local politician!
This is because I believe interest rates to be the determinable factor in what happens next in Vancouver Real Estate. If they stay low or rise slowly as most experts predict than I am very confident real estate will continue to be the best tangible investment one could make. Especially as their principle residence as home owners build equity and add value to their property through home improvements.
I bet on low interest rates as record foreclosure rates in the US and devastating recessions in big global markets across Europe and Asia suggests a booming economy is not in our near foreseeable future, and the government won't drastically raise rates until our economy indicates strong recovery.
Vancouver, BC has the worlds best banking system, one of the best education systems, its safe, clean, temperate, we are rich in natural resources, and we are positioned to be a major player in Trade and Travel for decades to come.
If you have any questions regarding Vancouver Real Estate please do not hesitate to call 604.562.0532 or write Stu@StuBell.com.
Tuesday, November 23, 2010
New Listing at Edgewater Estates! A Real Estate Investors Dream!
I am proud to present a 2 bedroom top floor apartment at Edgewater Estates! This suite is totally renovated with designer style, a bright south facing corner unit, tiled entry and kitchen, and rich granite counters and window sills. North Vancouver's best value at 952 sq ft for $258,880! Currently tenanted to great tenants at $1400/month, a superb investment!
Edgewater Estates is a proposed development site with a high potential of a buy out from a big Developer such as Polygon. With a brand new development just completed by Polygon down the street, The Wedgewood, and an adjacent site across Premier St ready for redevelopment, it is simply a matter of time before this sprawling 15 acre site gets acquired for demolition and redevelopment. When this occurs, a determined majority vote must occur, and homeowners are often persuaded by above market buy-out prices because the highest and best use is now a townhouse or multi-unit low rise development with much more value than one hundred 42 year old wood frame apartments. Ideally located near parks and recreation, Capilano University, Transit, Shopping, and easy freeway access on a massive 15 acre property.
Whether you are looking for a bright and peaceful place to raise your kids, relax with pets and friends, or BBQ on your patio; or an intelligent investment property with positive cash flows and a Buy Out scenario in the near future, this solid unit in a great complex is a must see!
Edgewater Estates is a proposed development site with a high potential of a buy out from a big Developer such as Polygon. With a brand new development just completed by Polygon down the street, The Wedgewood, and an adjacent site across Premier St ready for redevelopment, it is simply a matter of time before this sprawling 15 acre site gets acquired for demolition and redevelopment. When this occurs, a determined majority vote must occur, and homeowners are often persuaded by above market buy-out prices because the highest and best use is now a townhouse or multi-unit low rise development with much more value than one hundred 42 year old wood frame apartments. Ideally located near parks and recreation, Capilano University, Transit, Shopping, and easy freeway access on a massive 15 acre property.
Whether you are looking for a bright and peaceful place to raise your kids, relax with pets and friends, or BBQ on your patio; or an intelligent investment property with positive cash flows and a Buy Out scenario in the near future, this solid unit in a great complex is a must see!
HST Calcualtor & HST Exemptions in Vancouver, British Columbia!
If you are thinking of Buying a New Apartment in Vancouver or anywhere in British Columbia you have to know what the HST exemptions are!
Follow this link to calculate the amount of HST you will owe on a New Home Purchase, and if you are a home buyer purchasing property below $425,000, then calculate how much HST you will save when you purchase your first home for use as a primary residence.
http://www.bcrealestatelawyers.com/pricing/hstcalculator.html
Buying a vacation property you will not be eligible for a rebate but unlike GST, investors purchasing to rent are eligible for HST rebates if within the threshold the BC government is allowing.
First time Home Buyers don't forget the savings available to you on Property Purchase Tax and HST when purchasing your first property under $350,000.
If you have any questions regarding HST and Vancouver Real Estate please contact Stu Bell at 604.562.0532 or stu@stubell.com.
Follow this link to calculate the amount of HST you will owe on a New Home Purchase, and if you are a home buyer purchasing property below $425,000, then calculate how much HST you will save when you purchase your first home for use as a primary residence.
http://www.bcrealestatelawyers.com/pricing/hstcalculator.html
Buying a vacation property you will not be eligible for a rebate but unlike GST, investors purchasing to rent are eligible for HST rebates if within the threshold the BC government is allowing.
First time Home Buyers don't forget the savings available to you on Property Purchase Tax and HST when purchasing your first property under $350,000.
If you have any questions regarding HST and Vancouver Real Estate please contact Stu Bell at 604.562.0532 or stu@stubell.com.
Friday, November 12, 2010
1295 Ottawa Ave New Price & New Floorplans Added!
1295 Ottawa Avenue is the perfect family home nestled at the end of Quite and Prestigious Ottawa Avenue in sought after Upper Ambleside, West Vancouver! Featuring 6 bedrooms and 4 bathrooms in a 4500 sq ft Post & Beam home on a sprawling 16,200 sq ft Property! Stunning views can be enjoyed from all principle rooms and a spacious wrap around balcony. Just minutes from Ridgeview Elementary and West Van Secondary in a friendly and safe family orientated community.
I am proud to offer this home for sale for $1,468,000!
An ideal investment opportunity as this home has a self enclosed legal suite for inlaws, nannys, or mortgage helpers. Rent the whole house as is for $4000 or renovate and add substantial value to the solid bones of this rare offering. Build your dream house up to 9000 sq ft amongst multi million dollar mansions.
Please call Stu Bell at 604.562.0532 for your private showing.
Visit www.StuBell.com for pictures, Lot Plan, and Floor Plans.
I am proud to offer this home for sale for $1,468,000!
An ideal investment opportunity as this home has a self enclosed legal suite for inlaws, nannys, or mortgage helpers. Rent the whole house as is for $4000 or renovate and add substantial value to the solid bones of this rare offering. Build your dream house up to 9000 sq ft amongst multi million dollar mansions.
Please call Stu Bell at 604.562.0532 for your private showing.
Visit www.StuBell.com for pictures, Lot Plan, and Floor Plans.
Wednesday, November 3, 2010
Trip to Arizona in Search of Foreclosures and Real Estate Deals
I just returned from a fascinating trip to Phoenix/Scottsdale/Tempe Arizona to dig my teeth into the current distressed real estate market. I lived in Arizona a few years ago, playing professional golf on The Gateway Tour and various other mini-tours. At the time, the buzz words were foreclosure and Obama, and I saw real opportunity to pick up real estate at 50% of its pre-sale value but I didn't have the resources to capitalize.
On this past trip, I was surprised to see prices have dropped further, and the problem was worse, with over 800 foreclosures per day in the Phoenix area. Some people were foreclosing on 1 property while buying another, because they couldn't afford the payments and the home had crashed in value from when they bought it so they were better off just walking away and losing their down payments and equity in the property.
The primary cause of these foreclosures is over-lending, unethical lending/mortgage brokers, and misinformed Buyers who simply did not understand the structure of a lot of these $o down, 1% mortgages. Lenders weren't regulating their practices, mortgage brokers were lending to unqualified Buyers to make a buck, and Buyers were not aware that their 1% mortgages would jump to 7% in 2 years.
In Arizona, land is plentiful and construction costs are less expensive so home prices consists mostly of the pure cost of materials and labor to construct them. With the amount of foreclosures today, Buyers are picking up properties for 50% of the replacement costs.
I met up with a friend from West Vancouver who now lives and works for a Real Estate Investment Company in Scottsdale. We toured a few properties and I was amazed. A 3 bedroom house for $60,000 flipped and SOLD for $150,000. A luxury 800 sq ft condo for $60,000 that rents fro $700. A luxury 3 bedroom townhouse for $150,000 that sold pre-sale 4 years ago for $600,000. A 35 unit apartment complex with an annual rent roll of $225,000 for $560,000!
Needless to say there are amazing deals in the Desert. When the US economy turns, and the financial sector straightens out their lending practices, these houses and apartments with undoubtedly return to original replacement value and above. The trick is that is requires all cash to get the best deals and Buyers have to be willing to take on the risk of dilapidated properties as theft and damage are common place.
I hope to Buy a condo down there this winter, and if anyone reading this is interested please contact me and I can help you get in touch with the right people.
While a 1 bedroom condo in Vancouver is about $400,000 these days, and an average house is over $1,000,000, I still have faith in our financial system, our provinces rich supply of natural resources, and the strong International Demand in our city to sustain current home values.
If you have any questions regarding Vancouver or Arizona Real Estate please do not hesitate to contact me anytime.
On this past trip, I was surprised to see prices have dropped further, and the problem was worse, with over 800 foreclosures per day in the Phoenix area. Some people were foreclosing on 1 property while buying another, because they couldn't afford the payments and the home had crashed in value from when they bought it so they were better off just walking away and losing their down payments and equity in the property.
The primary cause of these foreclosures is over-lending, unethical lending/mortgage brokers, and misinformed Buyers who simply did not understand the structure of a lot of these $o down, 1% mortgages. Lenders weren't regulating their practices, mortgage brokers were lending to unqualified Buyers to make a buck, and Buyers were not aware that their 1% mortgages would jump to 7% in 2 years.
In Arizona, land is plentiful and construction costs are less expensive so home prices consists mostly of the pure cost of materials and labor to construct them. With the amount of foreclosures today, Buyers are picking up properties for 50% of the replacement costs.
I met up with a friend from West Vancouver who now lives and works for a Real Estate Investment Company in Scottsdale. We toured a few properties and I was amazed. A 3 bedroom house for $60,000 flipped and SOLD for $150,000. A luxury 800 sq ft condo for $60,000 that rents fro $700. A luxury 3 bedroom townhouse for $150,000 that sold pre-sale 4 years ago for $600,000. A 35 unit apartment complex with an annual rent roll of $225,000 for $560,000!
Needless to say there are amazing deals in the Desert. When the US economy turns, and the financial sector straightens out their lending practices, these houses and apartments with undoubtedly return to original replacement value and above. The trick is that is requires all cash to get the best deals and Buyers have to be willing to take on the risk of dilapidated properties as theft and damage are common place.
I hope to Buy a condo down there this winter, and if anyone reading this is interested please contact me and I can help you get in touch with the right people.
While a 1 bedroom condo in Vancouver is about $400,000 these days, and an average house is over $1,000,000, I still have faith in our financial system, our provinces rich supply of natural resources, and the strong International Demand in our city to sustain current home values.
If you have any questions regarding Vancouver or Arizona Real Estate please do not hesitate to contact me anytime.
Chinese Buyers Flock to Vancouver, BC
China's immense interest in Vancouver properties was first reported this past summer, now 3 months later, we see that the buyers were serious.
Housing prices in Vancouver's West Side are up 30%+ this past year, and the average home value is now over $1,800,000. A 6000 sq ft Lot with an old 2500 sq ft home, no view, are selling quickly for $1,600,000 and up. West Vancouver, average home value about $1,500,000 and home of some of Canada's finest Real Estate, is starting to see an influx in property sales, primarily driven by Chinese oversees Buyers. Recent sales include $8,000,000 on Hillside and $9,000,0000 in Altamont, neither property even close to the Waterfront. At this point a Buyers dollar goes a lot further on The Northshore, but Buyers are still skeptical about the Lions Gate Bridge access to the city center.
China-based Internet sales company SouFun started to organize trips to Vancouver for real estate-hungry groups of wealthy investors. The first two groups from Shanghai and Beijing, consisting of around twenty potential buyers, have been visiting Vancouver and Toronto since August. Needless to say, their interest have focused on million-dollar listings.
As reported by Canada-based Ming Pao Daily News, these buyers are especially interested in neighborhoods with ocean-views and neighborhoods with high-class educational institutions. Until now, Chinese bargain hunters mostly used conferences and business meetings as an opportunity to look around local listings. This is the first time the home-hunt is the sole purpose of visit.
Chinese Buyers are also very sensitive to traditional Feng Shui which include major deal breakers such as irregular lots, houses built at on a cul-de-sac or at a T-junction, houses built lower than the neighbors, front doors where guest can see right through the house upon entrance, having trees directly outside the front door, and having a straight driveway leading up the house. While most Canadians do not consider these things (in fact they can be positives) it is important to know them as it can greatly effect the value of your home when it comes time to re-sell because millions of Chinese hold these values sacred.
Why are they so attracted to come and live in Vancouver? Believe it or not, it is caused by the price level. Despite being at the top among Canadian markets when it comes to average price, Vancouver properties are cheaper compared to similar ones in Beijing or Shanghai. Canada boasts with high-quality education system, health care, safety and overall quality of life; therefore, it is one of the most favored destinations for rich immigrants, especially from Asia.
Despite accounting for around 80% of showings in some parts of Vancouver, Asian buyers will probably not turn on a shopping spree immediately. Most of them just needs to explore potential future home, only then will proceed with immigration. Still, many of them will become our neighbors in the near future and will fuel the property market, often Buying now and holding until their children can come and study in Vancouver.
Is the future a Chinese owned Real Estate sector with local Vancouverites as tenants? Many experts can see this unfolding but we will have to wait and see if the $1.3 Billion Chinese people continue pouring their money and relocating their families to Canada. Perhaps local government needs to tighten regulations to prevent a housing bubble creating widespread affordability concerns in what is already one of the most expensive cities in the World.
Housing prices in Vancouver's West Side are up 30%+ this past year, and the average home value is now over $1,800,000. A 6000 sq ft Lot with an old 2500 sq ft home, no view, are selling quickly for $1,600,000 and up. West Vancouver, average home value about $1,500,000 and home of some of Canada's finest Real Estate, is starting to see an influx in property sales, primarily driven by Chinese oversees Buyers. Recent sales include $8,000,000 on Hillside and $9,000,0000 in Altamont, neither property even close to the Waterfront. At this point a Buyers dollar goes a lot further on The Northshore, but Buyers are still skeptical about the Lions Gate Bridge access to the city center.
China-based Internet sales company SouFun started to organize trips to Vancouver for real estate-hungry groups of wealthy investors. The first two groups from Shanghai and Beijing, consisting of around twenty potential buyers, have been visiting Vancouver and Toronto since August. Needless to say, their interest have focused on million-dollar listings.
As reported by Canada-based Ming Pao Daily News, these buyers are especially interested in neighborhoods with ocean-views and neighborhoods with high-class educational institutions. Until now, Chinese bargain hunters mostly used conferences and business meetings as an opportunity to look around local listings. This is the first time the home-hunt is the sole purpose of visit.
Chinese Buyers are also very sensitive to traditional Feng Shui which include major deal breakers such as irregular lots, houses built at on a cul-de-sac or at a T-junction, houses built lower than the neighbors, front doors where guest can see right through the house upon entrance, having trees directly outside the front door, and having a straight driveway leading up the house. While most Canadians do not consider these things (in fact they can be positives) it is important to know them as it can greatly effect the value of your home when it comes time to re-sell because millions of Chinese hold these values sacred.
Why are they so attracted to come and live in Vancouver? Believe it or not, it is caused by the price level. Despite being at the top among Canadian markets when it comes to average price, Vancouver properties are cheaper compared to similar ones in Beijing or Shanghai. Canada boasts with high-quality education system, health care, safety and overall quality of life; therefore, it is one of the most favored destinations for rich immigrants, especially from Asia.
Despite accounting for around 80% of showings in some parts of Vancouver, Asian buyers will probably not turn on a shopping spree immediately. Most of them just needs to explore potential future home, only then will proceed with immigration. Still, many of them will become our neighbors in the near future and will fuel the property market, often Buying now and holding until their children can come and study in Vancouver.
Is the future a Chinese owned Real Estate sector with local Vancouverites as tenants? Many experts can see this unfolding but we will have to wait and see if the $1.3 Billion Chinese people continue pouring their money and relocating their families to Canada. Perhaps local government needs to tighten regulations to prevent a housing bubble creating widespread affordability concerns in what is already one of the most expensive cities in the World.
Tuesday, November 2, 2010
October 2010 Greater Vancouver Sales Stats
Home sales remain steady in Greater Vancouver
Greater Vancouver home sales have remained steady over the past four months, indicating stability in the residential housing market. With the MLS® sales to active listing inventory ratio indicating a buyers’ market, properties appropriately priced are selling.
According to the MLSLink® Housing Price Index (HPI), the benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 4.6 per cent to $579,349 in October 2010 from $553,702 in October 2009. Since June, however, residential home prices in Greater Vancouver have remained relatively unchanged, declining 0.2 per cent.
“We’ve seen a lot more consistency and less volatility in recent months when it comes to both number of sales and pricing, although it’s important to remember that conditions often vary between communities and neighbourhoods,” Jake Moldowan, Real Estate Board of Greater Vancouver (REBGV) president said.
Looking at transactions, the number of residential property sales in Greater Vancouver totalled 2,337 in October 2010. This represents a 5.3 per cent increase compared to September 2010 and a 36.9 per cent decline from the 3,704 sales in October 2009.
More broadly, last month’s residential sales represent a 71.3 per cent increase over the 1,364 residential sales in October 2008, a 22.8 per cent decline compared to October 2007’s 3,028 sales, and a 14.1 per cent decline compared to the 2,722 sales in October 2006.
“As we enter the final two months of the year, buyer demand is in closer alignment with supply than we’ve seen for most of 2010,” Moldowan said. “Those buying today recognize that they still have a chance to enter the market with near-record low interest rates, while gradual reductions in inventory have eased downward pressure on prices.”
Total active listings on the Multiple Listing Service® (MLS®) in Greater Vancouver currently sit at 14,075, an 8.6 per cent decline from last month and a 16.4 per cent increase from October 2009. New listings for detached, attached and apartment properties declined 25.7 per cent to 3,698 in October 2010 compared to October 2009 when 4,977 new units were listed.
Sales of detached properties in October 2010 reached 976, a decrease of 34.4 per cent from the 1,487 detached sales recorded in October 2009, and a 98 per cent increase from the 493 units sold in October 2008. The benchmark price for detached properties increased 6.3 per cent from October 2009 to $796,883.
Sales of apartment properties reached 984 in October 2010, a decline of 38.8 per cent compared to the 1,607 sales in October 2009, and an increase of 52.1 per cent compared to the 647 sales in October 2008.The benchmark price of an apartment property increased 2.4 per cent from October 2009 to $390,074.
Attached property sales in October 2010 totalled 377, a decline of 38.2 per cent compared to the 610 sales in October 2009, and a 68.3 per cent increase from the 224 attached properties sold in October 2008. The benchmark price of an attached unit increased 4 per cent between October 2009 and 2010 to $487,530.
Greater Vancouver home sales have remained steady over the past four months, indicating stability in the residential housing market. With the MLS® sales to active listing inventory ratio indicating a buyers’ market, properties appropriately priced are selling.
According to the MLSLink® Housing Price Index (HPI), the benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 4.6 per cent to $579,349 in October 2010 from $553,702 in October 2009. Since June, however, residential home prices in Greater Vancouver have remained relatively unchanged, declining 0.2 per cent.
“We’ve seen a lot more consistency and less volatility in recent months when it comes to both number of sales and pricing, although it’s important to remember that conditions often vary between communities and neighbourhoods,” Jake Moldowan, Real Estate Board of Greater Vancouver (REBGV) president said.
Looking at transactions, the number of residential property sales in Greater Vancouver totalled 2,337 in October 2010. This represents a 5.3 per cent increase compared to September 2010 and a 36.9 per cent decline from the 3,704 sales in October 2009.
More broadly, last month’s residential sales represent a 71.3 per cent increase over the 1,364 residential sales in October 2008, a 22.8 per cent decline compared to October 2007’s 3,028 sales, and a 14.1 per cent decline compared to the 2,722 sales in October 2006.
“As we enter the final two months of the year, buyer demand is in closer alignment with supply than we’ve seen for most of 2010,” Moldowan said. “Those buying today recognize that they still have a chance to enter the market with near-record low interest rates, while gradual reductions in inventory have eased downward pressure on prices.”
Total active listings on the Multiple Listing Service® (MLS®) in Greater Vancouver currently sit at 14,075, an 8.6 per cent decline from last month and a 16.4 per cent increase from October 2009. New listings for detached, attached and apartment properties declined 25.7 per cent to 3,698 in October 2010 compared to October 2009 when 4,977 new units were listed.
Sales of detached properties in October 2010 reached 976, a decrease of 34.4 per cent from the 1,487 detached sales recorded in October 2009, and a 98 per cent increase from the 493 units sold in October 2008. The benchmark price for detached properties increased 6.3 per cent from October 2009 to $796,883.
Sales of apartment properties reached 984 in October 2010, a decline of 38.8 per cent compared to the 1,607 sales in October 2009, and an increase of 52.1 per cent compared to the 647 sales in October 2008.The benchmark price of an apartment property increased 2.4 per cent from October 2009 to $390,074.
Attached property sales in October 2010 totalled 377, a decline of 38.2 per cent compared to the 610 sales in October 2009, and a 68.3 per cent increase from the 224 attached properties sold in October 2008. The benchmark price of an attached unit increased 4 per cent between October 2009 and 2010 to $487,530.
Tuesday, October 26, 2010
New Coal Harbour Development - The Jewels in Vancouver's Crown
Coal Harbour, Vancouver, British Columbia has quickly become the most prestigious neighborhood in Downtown Vancouver and home to the finest Real Estate in Canada.
Quite streets lined with state-of-the-art high rises border calm ocean waters filled with marinas and float planes. The bustling seawall and brilliantly designed waterfront parks connect the Vancouver Convention Center to Stanley Park.
The Convention Center was recently awarded the ‘Leadership in Energy and Environmental Design Platinum’ for 2010. It boasts a six acre living roof, seawater heating and cooling, on-site water treatment and fish habitat built into the foundation of the West Building, all of which make it one of the “greenest” buildings in the world. The meetings and convention business is Canada’s economic giant – silently generating more than $4 billion per year in diversified economic impacts and over two-hundred thousand annual delegates.
Check out the Vancouver Convention Centre’s video about their fantastic facilities here: (http://www.vancouverconventioncentre.com/video-gallery/).
Stanley Park is the largest park in Vancouver, over 1000 acres, 10% larger than New Yorks Central Park, and attracting over 8 million guests per year!
Coal Harbour lays between these two Vancouver Icons and boasts some of the finest and most prestigious Real Estate in The World. In 2011, four new High Rises will change the skyline forever: West Pender Place, Jameson House, The Private Residences at Hotel Georgia, and Three Harbour Green. In the near future Vancouver's Twin Tower will be constructed adjacent to the Shangri-La; The Ritz Carlton at over 60 stories!
West Pender Place (http://westpenderplace.com/)
An architectual masterpiece. Two Towers and a central ammenities building making up half a city block with transform the entrance to Coal Harbour on West Pender. Located just steps from fine dining such as Carderos and Lift, shopping on Robson, Stanley Park, and the Community Center. West Pender Place is proudly developed by Reliance Properties Ltd, designed by IB/HB architects and Alda Pereira Design Inc, and built by Intertech Construction.
The Private Residences at Hotel Georgia (http://www.residencesatgeorgia.com/)
Distinctively designed quality that denotes luxury and comfort at the edge of Coal Harbour and in the Heart of beautiful Vancouver. Another Luxury World Class Resort with exclusive and stately residences above with access to the finest 5 star amenities. The Development by globally acclaimed Delta Group is designed by IBI/HB architects and built with Scott Construction with interiors by award winning Mitchell Friedland. The original landmark Rosewood Hotel Georgia, the heart of Vancouver's social scene for 80 years, will be restored by Endall Elliot Architect to become yet again an iconic part of the 21st Century Vancouver cityscape.
Jameson House (http://www.jamesonfoster.com/)
Bosa's latest Downtown Development featuring state of the art Leed Certified Construction and a bold design by internationally acclaimed Foster and Partners Architecture. Just on the outskirts of Coal Harbour in Vancouver's historic Financial District, this elegant and iconic tower will include a heritage restoration component in one of the densest and oldest parts of Vancouver.
Three Harbour Green (http://www.harbourgreenplace.com/virtualtour.html)
Proclaimed the "The Last Jewell in The Crown" of Vancouver's Golden Mile! The final of a trio of World Class Waterfront Residential high Rises by Aspac. One and Two Harbour Green have been widely acclaimed as the finest Residences in Vancouver, boasting stunning Ocean and Northshore Mountain Views, extravagant amenities, 5 Star Quality Lobbies, and the finest finishings from around the world in lofted apartments, sought after waterfront townhouses, and jaw-droppping penthouses. Three Harbour Green will sit aside the highly sought after Shaw Tower and the new Fairmont Pacific Rim at the entrance to The Convention Center.
The Ritz-Carlton
Holburn Developments looks to break new ground on Georgia across the street from the impressive Shangri La at the Southern Point of the Coal Harbour region. Facing hurdles in preparation for construction, this project appears to be ready to re-market after rumours a Marriot would come up. Just like the Shangri-La, the Ritz-Carlton will be a mix of commercial street space, hotel accommodation, and stratafied Private Residences, creating Vancouver's own Twin Towers.
These forward thinking developments will change the Coal Harbour skyline forever, and with a limited number of buildable sites remaining, the Supply in Coal Harbour will be much tighter than areas such as Yaletown where Concord Pacific alone has a couple dozen more buildings in their plans or North Vancouver where the Official Community Plan encourages redevelopment of older Real Estate.
West Pender Place, Jameson House, The Private Residences at Hotel Georgia, Three Harbour Green, and The Ritz Carlton will be distinctive additions to some of Vancouver's finest Buildings such as Cielo, Denia, The Melville, Carina, Flat Iron, The Bayshore Buildings, Escala, Callisto, Bauhinia, and Cascina. The Lifestyle is enviable, the Architecture is inspiring, and the location connecting Downtown Vancouver with Stanley Park and the Northshore is arguable one of the Best in the World.
To learn more about Coal Harbour Real Estate please feel free to contact me as I am always excited to discuss any questions you may have.
Thursday, October 21, 2010
Friday, October 8, 2010
More New Developments in North Vancouver Real Estate!
A few weeks ago I blogged about the North Vancouver Building Boom, today I am excited to announce a few more exciting new Developments in the City and the District of North Vancouver! Two Boutique high end residences with an emphasis on space and luxury and a high rise with anchor commercial tenants. Villa St Georges is the revitalization to the site of a tragic apartment fire two years ago, 700 is a transformation of a commerical block into a mix-use luxury residential/ vibrant retail hub, and 13th and Lonsdale is the site of the old Shell station.
1) 700 - 700 Marine Drive, North Vancouver
700 is transforming the corner of Marine Drive, Bewicke, and 3rd. The true gateway to the revitalized Marine Drive.
This intelligent, human-scale building includes 26 generous air conditioned concrete homes, inspiring office spaces, and shops, services, and landscaped spaces at street level. 700 boasts easier access to both bridges, Upper and Lower Lonsdale, the Upper Levels Highway, and the trails and rivers of the coastal mountains. Meanwhile, everything you need for smarter living is just downstairs. This is a whole new design for urban life – and everything you love about North Van.
2) Villa St Georges - 1033 St Georges Ave, North Vancouver
Eight high end 2 bedroom, 2 full bath penthouse units in brand new Villa St. George. These homes will be spacious 1,150+ sq ft units with high end finishings, great outdoor deckspace and spectacular mountain and some city views. Prime central location neart all amenities and the vibrant Lonsdale corridor. Ready for occupancy Spring 2011.
With even more projects in the pipeline, look forward further evolution of the Lonsdale corridor skyline and watch for significant commercial and residential upgrades to the Marine Drive corridor from Capilano Road to Lonsdale.
If you are thinking of moving to North Vancouver or investing in a North vancouver Home, contact me today for on top of the market information.
3) 13th and Lonsdale - North Vancouver
The intent of the proposed development is to create a mixed-use development featuring a new Lonsdale branch and head office for North Shore Credit Union. The proposed floor area for the North Shore Credit Union facility is approximately 60,000 square feet. Through the creation of permanent employment opportunities on site and the provision of multi-family housing in proximity to jobs and services, the proposed development will contribute to a vibrant, diverse and highly livable community. The proposed maximum height for the building is 120 feet, consistent with the height limit specified in the OCP for the Central Lonsdale corridor.
1) 700 - 700 Marine Drive, North Vancouver
700 is transforming the corner of Marine Drive, Bewicke, and 3rd. The true gateway to the revitalized Marine Drive.
This intelligent, human-scale building includes 26 generous air conditioned concrete homes, inspiring office spaces, and shops, services, and landscaped spaces at street level. 700 boasts easier access to both bridges, Upper and Lower Lonsdale, the Upper Levels Highway, and the trails and rivers of the coastal mountains. Meanwhile, everything you need for smarter living is just downstairs. This is a whole new design for urban life – and everything you love about North Van.
2) Villa St Georges - 1033 St Georges Ave, North Vancouver
Eight high end 2 bedroom, 2 full bath penthouse units in brand new Villa St. George. These homes will be spacious 1,150+ sq ft units with high end finishings, great outdoor deckspace and spectacular mountain and some city views. Prime central location neart all amenities and the vibrant Lonsdale corridor. Ready for occupancy Spring 2011.
With even more projects in the pipeline, look forward further evolution of the Lonsdale corridor skyline and watch for significant commercial and residential upgrades to the Marine Drive corridor from Capilano Road to Lonsdale.
If you are thinking of moving to North Vancouver or investing in a North vancouver Home, contact me today for on top of the market information.
The intent of the proposed development is to create a mixed-use development featuring a new Lonsdale branch and head office for North Shore Credit Union. The proposed floor area for the North Shore Credit Union facility is approximately 60,000 square feet. Through the creation of permanent employment opportunities on site and the provision of multi-family housing in proximity to jobs and services, the proposed development will contribute to a vibrant, diverse and highly livable community. The proposed maximum height for the building is 120 feet, consistent with the height limit specified in the OCP for the Central Lonsdale corridor.
Monday, October 4, 2010
September 2010 Greater Vancouver Real Estate Stats
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Saturday, September 18, 2010
Lonsdale Building Boom in North Vancouver!
Watch for the North Vancouver skyline to change, and here's how to get in on it!
Today marks the beginning of sales for Polygons new development, Anderson Walk at 22nd and Lonsdale. Westcoast Architecture featuring underground parking, gym facilities, guest suites and high end finishing. This complex will have over 100 units on an entire City Block. 2 bedrooms start from $399,900. An excellent opportunity as Polygons 2 recent projects, Branches and Wedgewood both Sold Out with excellent praise. Get more information here: http://www.polyhomes.com/new_community.php?community_id=565
Today also marks the re-launch of Phase 2 for the Kimpton at 13th and Chesterfield in North Vancouver. Phase 1 Sold Out quickly. This high end concrete boutique low rise is in the heart of Lonsdale and boasts Leed Certified Engineering, high end finishing, and expansive outdoor space with jaw-dropping views. Learn more here: http://www.northvanapartments.com/TheKimpton.ubr
This Fall, sales will begin for Anthem Properties newest project, Local in central Lonsdale. 20 stories of high end finishing boasting large patios, amazing views, and a 1 acre Green Roof. Get more information here: http://www.localonlonsdale.com/
Sales are underway for Onni's newest project, The Drive, one of the first new developments along the Marine Dr corridor from Lions Gate Bridge to Lonsdale where city planners are strategically re-zoning for a Kitsilano feel with vibrant storefronts and a denser, more livable neighborhood. Touchstone was the first and now The Drive, http://www.northvanapartments.com/TheDrive.ubr and The District Crossing by Qualex-Landmark, http://www.districtcrossing.com/, are storming ahead and quickly transforming the feel and look of the Marine Drive corridor.
The Pier by Pinnacle is also set to develop 3 New High End Waterfront Buildings. The Safeway at 13th and Lonsdale has been rezoned for 2 new high rises. Sales have also began for Vicinity near Deep Cove by Brody Development, the newest, lease-hold property available on The North Shore.
Also look out for new townhomes and duplexes being developed along The Lonsdale Corridor.
There has also been a lot of high end apartment buildings completing in North Vancouver in the past few years: The Pier, Mira on The Park, Alina, and Vista Place.
All in all the future looks very bright for North Vancouver. With a serious lack of affordable new product in West Vancouver (The Evelyn, Park Marine, Dundarave Village Point, Edgewater, The Properties, ect all sell for well over $1000/sq ft) anyone looking to live on the Northshore, downsizers, young families, first time home buyers, ect, will have a lot of really nice product to choose from, and anyone living here currently, will enjoy an overall increase in their quality of life with new shops, restaurants, and neighbors.
If you have any questions about The City of North Vancouver or North Vancouver Real Estate please do not hesitate to call anytime, 604-562-0532 or write stu@stubell.com.
Come see what The Shore is all about!
Wednesday, September 15, 2010
Rent or Buy in Vancouver?
Rent or Buy in Vancouver?
I had a recent facebook debate with my peers who were dead set to Rent-For-Life, and that at today's prices it would be foolish to Buy Real Estate in Vancouver. While I own Real Estate and I deal with the sale and purchase of Real Estate daily, I was motivated to do some research and make certain conclusions.
As a Realtor, I have expertise in the Vancouver Real Estate Market. Through education, training, and experience. I also know that Vancouverites have very passionate opinions about our real estate market, and I believe this is due to the simple fact that every person needs a place to live, and whether you rent or buy, it is really expensive in Vancouver.
The following is my review of when a person should rent and when they should buy, and if they have the option, why Buying is better.
The benefits of renting are clear: no commitments, fixed costs, no large lump payment, easy mobility, more affordable, and no exposure to potential market downturns. For these reasons, I think renting is the only way to go for people who get up and move a lot, for people new to a neighborhood, for people who find it financially overbearing to come up with a large enough downpayment, for those wanting to live in a lavish lifestyle at less cost than owning, for those who prefer other investment vehicles such as Stocks or Bonds, and for those who inherently believe dooms day is coming and a mansion in West Vancouver is going to depreciate like those lining the fairways of Private Country Clubs in Scottsdale, Palm Springs, and several other depressed markets in the US.
(Note lending practices in the US are far less stringent than Canada, and the fact that it is very difficult to obtain a mortgage in Vancouver, is a testament to our responsible lending systems and re-assurance a Foreclosure deceased market like in the US will never destroy Canadian Real Estate)
The first several reasons to rent apply to the majority of the population in Vancouver, hence our extremely low vacancy rates and high rent rates (which are forecasted to grow), that attract the large amount of Investors seeking returns who view Real Estate as an investment vehicle, also affectionately referred to as "speculators" by disgruntled tenants.
Those who fear a doomsday collapse in our market could be right, there is no crystal ball, but in my professional opinion Vancouver Real Estate is the most Rock Solid investment around. Simple Market Fundamentals are all strong: low interest Rates, Growing Population, rising incomes/ increasing minimum wage, limited Supply, increasing Global demand, and a growing job market with low unemployment rates.
It all looks good barring a 1980's like interest rate spike where many Vancouverites were paying 20-22% interest rates on their mortgage! (Today a $500,000 loan = payments of $1,650 per month, whereas in 1980 the same $500,000 loan = $9,171.12 per month)
Check out the chart below (VancouverCrash.com) and see how interest rate spikes in 1982, 1993, 1996, and 2003 correspond with dips in the average home prices in Vancouver in the second chart. Also note that the trend, due to lending improvements, technologies, globalization, and pro-active governing is downwards, suggesting while interest rates will continue to vary, they may dip deeper and will likely never spike to what we saw 30 years ago.
It all looks good barring a 1980's like interest rate spike where many Vancouverites were paying 20-22% interest rates on their mortgage! (Today a $500,000 loan = payments of $1,650 per month, whereas in 1980 the same $500,000 loan = $9,171.12 per month)
Check out the chart below (VancouverCrash.com) and see how interest rate spikes in 1982, 1993, 1996, and 2003 correspond with dips in the average home prices in Vancouver in the second chart. Also note that the trend, due to lending improvements, technologies, globalization, and pro-active governing is downwards, suggesting while interest rates will continue to vary, they may dip deeper and will likely never spike to what we saw 30 years ago.
In the Graph Below (Real Estate Board of Greater Vancouver), we see how prices in Vancouver have rose since 1977. Note how drops in prices and the general lag through the eighties and nineties correlates with high interest rates.
The other critical perspective is across Canada, lets look at the inflation adjusted average Canadian home prices chart (VancouverCrash.com). You will see that Vancouver has historically been the most expensive place to live in Canada and compared to Toronto, Montreal, and Calgary the increase since 2000 is nationwide and Vancouver is on par with the rest of Canada and relatively affordable compared to 1980. The chart below (VancouverCrash.com) suggests that Calgary and Greater Vancouver are overpriced.
Finally let's look at percentage of after-tax income needed to make payments on a mortgage with an amortization of 25 years with a 20% down-payment (VancouverCrash.com). You will see that Vancouver is the most unaffordable, but keep in mind Vancouver is also the most sought after by foreign direct investment which does not account for income, that Vancouver is the most dense, and that the historical norm for the past 35 years displays Vancouver as always being the most unaffordable. Vancouver is more unaffordable than 99-2005 but less affordable than 1981, and 1991-1997.
In conclusion, the historic driver for our Real Estate Prices is an inverse relationship with interest rates, and the 2 trends are moving in opposite directions. Evidence suggests Vancouver is not a bubble city, as it is in line with the rest of Canada based on statistical analysis from Royal Lepage Statistics, Statistics Canada, and The Greater Vancouver Real Estate Board over the past 40 years.
As a lifelong resident of Vancouver, I believe the reason we are at historic highs, and the reason we have always been the most unaffordable city in Canada, is because Vancouver has the "It" factor. A city center envied by city planners across the world, a natural scenery attracting Tourists and Immigrants by the masses, a global position with amazing transportation, a temperate climate, excellent school system, and a safe, intellectual, community driven way of life. It appears the demand for Vancouver is infinite, and while many young Canadian families may have to move to a great Canadian Suburb such as Kelowna, Victoria, or Langley, where house prices drop significantly, even in an economic downturn tens of throusands of people are willing to pay todays prices to get their hands on a piece of Vancouver Pie to enjoy Robson St, Stanley Park, Kits Beach, GM Place, Fine Dining, World Class Resorts, the Northshore mountains and on and on.
While no one has a crystal ball and Real Estate has been through periods of downturn, for me there is no question Vancouver Real Estate will continue to climb in the long run, so if you have the option too Buy, here's why you should:
Great Investment (Pay down your mortgage, not your landlords or have tenants paying yours), Build Equity (Get financed, grow your business), Pride of Ownership (add value, grow roots in the community), a Mortgage is the best Savings Account, retire Land Rich because with todays costs of living your bank account may not be, and sleep well knowing that your hard earned money is invested in an asset you can touch, an asset you can rent, and an asset you can enjoy!
For all your Real Estate Needs or Inquiries please write stu@stubell.com or call 604.562.0532.
Follow me @StuBellRealtor and Find me on www.Facebook.com/StuBellRealEstate
Tuesday, September 14, 2010
Top 5 Places to Live / Invest on The Northshore & Downtown Vancouver
1)Ambleside, West Vancouver
2)Lower Lonsdale, North Vancouver
3)Coal Harbour, Vancouver
4)Edgemont Village, North Vancouver
5)Caulfield, West Vancouver
1) Ambleside, West Vancouver
While West Vancouver is one of the most sought-after municipalities in British Columbia, and often labelled the most expensive place to live in Canada, it is on average about $300,000 less than Vancouver West where $1,800,000 gets you the "average" detached home.
In Ambleside, a building lot with no view runs about $925,000, the average detached home is $1,500,000 and at the moment a 16,000 sq ft lot with 4600 sq ft home and big city and ocean views is offered for $1,588,800.
Ambleside is an excellent school catchment, with Ridgeview and Saint Anthony's Elementary within walking distance, as well as West Vancouver Secondary(IB Program/Top Ranked Public School) and Collingwood Private School. Ambleside is close to Downtown Vancouver and the Highway with excellent amenities such as Ambleside Beach, Park Royal Village, dog parks, sports fields, The Sea Wall, and Hollyburn Country Club and Capilano Golf Club.
The OCP (Official Community Plan) for Ambleside is to redevelop Marine Dr to be more pedestrian friendly and have trees/planters, wider sidewalks, and more appealing store fronts like Dundarave (currently West Vancouver's hottest Real Estate located five minutes West of Ambleside).
Ambleside features great views, amazing schools, family-orientated neighborhoods, and an extremely convenient location.
2) Lower Lonsdale, North Vancouver
In the last 5 years Lower Lonsdale has transformed into an amazing urban community with the redevelopment of old shipyards and manufacturing plants into trendy condos, lofts, heritage conversions, shops, and amenities(Remember Yaletown!). Residents can easily get downtown on The Seabus, a smooth 15 minute boat trip from Lower Lonsdale to Waterfront station near Gastown, another emerging part of Vancouver, but the Drugs/Homeless/Mental Illness Issues in Gastown make Lower Lonsdale a safer, more affordable and desirable place to invest & live.
There have been several excellent new buildings added to the Lower Lonsdale Cityscape in the past few years, my favorite are 1) Mira on The Park 2) The Pier 3) Time 4)One Park Lane 5)Vista Place. Visit www.NorthVanApartments.com for a complete Building Directory.
There is also a bit of a building boom on the horizon for North Vancouver. The Drive by Onni, Anderson Walk by Polygon, The Kimpton, District Crossing, 2 New Buildings at The Pier, and 2-3 more sites being re-zoned for high-rise development. There will be a lot of Supply coming on the market in about 18-24 months, which may present a great opportunity to Buy and invest/live in this emerging market.
3) Coal Harbour, Vancouver
Coal Harbour is one of the most expensive places to live in Vancouver, and it it isn't going to change anytime soon! Originally an industrial port for Coal Miners in Vancouver, Gordon Campbell had the vision to form a World-Class neighhbourhood that thrives today. Vancouver's finest restaurants, waterfront parks, marinas, and buildings can be found in Coal Harbour.
From The Bayshore Buildings to 1,2, and now 3 Harbour Green on The Golden Mile, the quality and design of high rises in Coal Harbour is the finest in Vancouver. With a very limited supply just steps to Stanley Park, Robson St, and The Vancouver Convention Center, exclusive Coal Harbour remains a quite and livable part of the Downtown core.
My favourite Buildings include, Harbour Green, Cielo (Rooftop gym), Carina & Callisto, the Melville (Rooftop Pool), Flat Iron, Shaw Tower, Escala, Denia, Cascina, and the towering Shangri La. Look for West Pender Place to complete early in 2011 and construction to begin on the Ritz-Carlton, across the street from Shangri-La and reaching 1 floor taller!
Visit www.VanApartments.com for a complete list of Real Estate for Sale in Coal Harbour Today.
4) Edgemont Village, North Vancouver
Edgemont Village is the most desirable neighborhood in North Vancouver. Ideally located near Capilano River and Grouse Mountain with easy access to Highway 1 and Downtown Vancouver. A tremendous feel of community and family unites this community with Edgemont Village as a focal point for shops, lunches, and all life's amenities.
With Handsworth High School, a powerhouse in Northshore Sports and Academics, and an abundance of parks and recreation, Edgemont is a serene place to live and one of the safest communities in Canada.
A splendid mix of High End Homes, Contemporary Classics, and New Townhomes and Apartments make Edgemont a highly sought after community for young families, empty nesters, young adults, and new immigrants to The Northshore.
For Builders, there is excellent opportunity to Buy a Lot or weathered Home and build or redevelop as the demand for Fresh Finished Product is high.
5) Caufield, West Vancouver
They say the weather is better in Caulfield, a newer community on rocky bluffs boasting new infrastructure (No Power Lines!), an excellent School Program (Rockridge High School & West Bay Elementary(IB Program)), and gorgeous newer homes with spectacular Howe Sound and City views.
If you don't mind the 15 minute cruise from Lions Gate on The Highway, Caulfield is an amazing place to live. The Community is connected by Caulfield Village, and great amenities such as BC Ferries (Sunshine Coast and Vancouver Island access), The New Sea to Sky Highway (Whistler), Beaches, Hiking Trails, Glen Eagles Golf Club, and more!
You can buy a Big House in Caulfield with all the fixings for less than the average home in North Vancouver, at about $1,150,000 and well below the averages of West Vancouver or Vancouver West. Recent bylaw amendments in West Vancouver also allow the registration of legal suites, meaning young couples, investors, and downsizers have the option of renting out a suite for additional income vs buying an expensive condo with high maintenance fees.
I hope you enjoyed my Top 5 places to Live & Invest on The Northsore & Downtown Vancouver.
Other emerging and highly sought-after areas of the Northshore & Downtown worthy of mention are Deep Cove, Canyon Heights, Seymour Estates, West Bay, British Properties, Dundarave, Lynn Valley, Fairview Slopes, Yaletown, and Crosstown.
If you have any questions please feel free to write me at stu@stubell.com or call 604.562.0532.
Follow me @StuBellRealtor and find me at www.Facebook.com/StuBellRealEstate.
Now Get out and Enjoy the Great Outdoors we are privileged to have!
Happy Home Hunting:)
2)Lower Lonsdale, North Vancouver
3)Coal Harbour, Vancouver
4)Edgemont Village, North Vancouver
5)Caulfield, West Vancouver
1) Ambleside, West Vancouver
While West Vancouver is one of the most sought-after municipalities in British Columbia, and often labelled the most expensive place to live in Canada, it is on average about $300,000 less than Vancouver West where $1,800,000 gets you the "average" detached home.
In Ambleside, a building lot with no view runs about $925,000, the average detached home is $1,500,000 and at the moment a 16,000 sq ft lot with 4600 sq ft home and big city and ocean views is offered for $1,588,800.
Ambleside is an excellent school catchment, with Ridgeview and Saint Anthony's Elementary within walking distance, as well as West Vancouver Secondary(IB Program/Top Ranked Public School) and Collingwood Private School. Ambleside is close to Downtown Vancouver and the Highway with excellent amenities such as Ambleside Beach, Park Royal Village, dog parks, sports fields, The Sea Wall, and Hollyburn Country Club and Capilano Golf Club.
The OCP (Official Community Plan) for Ambleside is to redevelop Marine Dr to be more pedestrian friendly and have trees/planters, wider sidewalks, and more appealing store fronts like Dundarave (currently West Vancouver's hottest Real Estate located five minutes West of Ambleside).
Ambleside features great views, amazing schools, family-orientated neighborhoods, and an extremely convenient location.
2) Lower Lonsdale, North Vancouver
In the last 5 years Lower Lonsdale has transformed into an amazing urban community with the redevelopment of old shipyards and manufacturing plants into trendy condos, lofts, heritage conversions, shops, and amenities(Remember Yaletown!). Residents can easily get downtown on The Seabus, a smooth 15 minute boat trip from Lower Lonsdale to Waterfront station near Gastown, another emerging part of Vancouver, but the Drugs/Homeless/Mental Illness Issues in Gastown make Lower Lonsdale a safer, more affordable and desirable place to invest & live.
There have been several excellent new buildings added to the Lower Lonsdale Cityscape in the past few years, my favorite are 1) Mira on The Park 2) The Pier 3) Time 4)One Park Lane 5)Vista Place. Visit www.NorthVanApartments.com for a complete Building Directory.
There is also a bit of a building boom on the horizon for North Vancouver. The Drive by Onni, Anderson Walk by Polygon, The Kimpton, District Crossing, 2 New Buildings at The Pier, and 2-3 more sites being re-zoned for high-rise development. There will be a lot of Supply coming on the market in about 18-24 months, which may present a great opportunity to Buy and invest/live in this emerging market.
3) Coal Harbour, Vancouver
Coal Harbour is one of the most expensive places to live in Vancouver, and it it isn't going to change anytime soon! Originally an industrial port for Coal Miners in Vancouver, Gordon Campbell had the vision to form a World-Class neighhbourhood that thrives today. Vancouver's finest restaurants, waterfront parks, marinas, and buildings can be found in Coal Harbour.
From The Bayshore Buildings to 1,2, and now 3 Harbour Green on The Golden Mile, the quality and design of high rises in Coal Harbour is the finest in Vancouver. With a very limited supply just steps to Stanley Park, Robson St, and The Vancouver Convention Center, exclusive Coal Harbour remains a quite and livable part of the Downtown core.
My favourite Buildings include, Harbour Green, Cielo (Rooftop gym), Carina & Callisto, the Melville (Rooftop Pool), Flat Iron, Shaw Tower, Escala, Denia, Cascina, and the towering Shangri La. Look for West Pender Place to complete early in 2011 and construction to begin on the Ritz-Carlton, across the street from Shangri-La and reaching 1 floor taller!
Visit www.VanApartments.com for a complete list of Real Estate for Sale in Coal Harbour Today.
4) Edgemont Village, North Vancouver
Edgemont Village is the most desirable neighborhood in North Vancouver. Ideally located near Capilano River and Grouse Mountain with easy access to Highway 1 and Downtown Vancouver. A tremendous feel of community and family unites this community with Edgemont Village as a focal point for shops, lunches, and all life's amenities.
With Handsworth High School, a powerhouse in Northshore Sports and Academics, and an abundance of parks and recreation, Edgemont is a serene place to live and one of the safest communities in Canada.
A splendid mix of High End Homes, Contemporary Classics, and New Townhomes and Apartments make Edgemont a highly sought after community for young families, empty nesters, young adults, and new immigrants to The Northshore.
For Builders, there is excellent opportunity to Buy a Lot or weathered Home and build or redevelop as the demand for Fresh Finished Product is high.
5) Caufield, West Vancouver
They say the weather is better in Caulfield, a newer community on rocky bluffs boasting new infrastructure (No Power Lines!), an excellent School Program (Rockridge High School & West Bay Elementary(IB Program)), and gorgeous newer homes with spectacular Howe Sound and City views.
If you don't mind the 15 minute cruise from Lions Gate on The Highway, Caulfield is an amazing place to live. The Community is connected by Caulfield Village, and great amenities such as BC Ferries (Sunshine Coast and Vancouver Island access), The New Sea to Sky Highway (Whistler), Beaches, Hiking Trails, Glen Eagles Golf Club, and more!
You can buy a Big House in Caulfield with all the fixings for less than the average home in North Vancouver, at about $1,150,000 and well below the averages of West Vancouver or Vancouver West. Recent bylaw amendments in West Vancouver also allow the registration of legal suites, meaning young couples, investors, and downsizers have the option of renting out a suite for additional income vs buying an expensive condo with high maintenance fees.
I hope you enjoyed my Top 5 places to Live & Invest on The Northsore & Downtown Vancouver.
Other emerging and highly sought-after areas of the Northshore & Downtown worthy of mention are Deep Cove, Canyon Heights, Seymour Estates, West Bay, British Properties, Dundarave, Lynn Valley, Fairview Slopes, Yaletown, and Crosstown.
If you have any questions please feel free to write me at stu@stubell.com or call 604.562.0532.
Follow me @StuBellRealtor and find me at www.Facebook.com/StuBellRealEstate.
Now Get out and Enjoy the Great Outdoors we are privileged to have!
Happy Home Hunting:)
Sunday, September 12, 2010
Open House 1295 Ottawa 2-4pm West Vancouver!
4600 sq ft Post and Beam Home on a massive 16,000 sq ft estate size property. Boasting stunning ocean, cityscape, and Lion's gate Bridge views, this home is an excellent value at $1,588,800.
For more information please visit http://www.StuBell.com or call me at 604.562.0532.
For more information please visit http://www.StuBell.com or call me at 604.562.0532.
Friday, September 10, 2010
Vancouver Real Estate Market Snapshot 9-10-10
A Look at The Numbers in Vancouver
So far in 2010, The Vancouver Real Estate has been very active, with 3546 detached (houses, land) sales (1691 under one million) and 5896 attached (condos, apartments, townhomes, duplexes, ect.)
There have been 485 detached sales in West Vancouver, 674 in North Vancouver, 595 in East Vancouver and 1202 sales in Vancouver West(Downtown Vancouver, Kitsilano, Point Grey, ect).
Comparatively, there are 500 detached listings in West Vancouver, 356 in North Vancouver, 595 in Vancouver East, and 654 in Vancouver West.
Of the 5896 attached sales so far this year, 3378 of them were under $500,000.
There have been 165 sales in West Vancouver, 863 in North Vancouver, 1171 in East Vancouver, and 3702 in Vancouver West.
Comparatively, there are 172 actives in West Vancouver, 499 in North Vancouver, 635 in Vancouver East, and 2320 in Vancouver West.
As expected the most Actives and most sales are occurring in Vancouver West. Currently, there is a very healthy balance between current listings and sales in Vancouver.
Good Listings priced well are selling quickly while tired, improperly marketed properties are expiring.
If you have any questions about the Vancouver Real Estate Market call me anytime at 604.562.0532 or write to stu@stubell.com.
Follow me on Twitter @StuBellRealtor and Find me on Facebook : Stu Bell Real Estate
So far in 2010, The Vancouver Real Estate has been very active, with 3546 detached (houses, land) sales (1691 under one million) and 5896 attached (condos, apartments, townhomes, duplexes, ect.)
There have been 485 detached sales in West Vancouver, 674 in North Vancouver, 595 in East Vancouver and 1202 sales in Vancouver West(Downtown Vancouver, Kitsilano, Point Grey, ect).
Comparatively, there are 500 detached listings in West Vancouver, 356 in North Vancouver, 595 in Vancouver East, and 654 in Vancouver West.
Of the 5896 attached sales so far this year, 3378 of them were under $500,000.
There have been 165 sales in West Vancouver, 863 in North Vancouver, 1171 in East Vancouver, and 3702 in Vancouver West.
Comparatively, there are 172 actives in West Vancouver, 499 in North Vancouver, 635 in Vancouver East, and 2320 in Vancouver West.
As expected the most Actives and most sales are occurring in Vancouver West. Currently, there is a very healthy balance between current listings and sales in Vancouver.
Good Listings priced well are selling quickly while tired, improperly marketed properties are expiring.
If you have any questions about the Vancouver Real Estate Market call me anytime at 604.562.0532 or write to stu@stubell.com.
Follow me on Twitter @StuBellRealtor and Find me on Facebook : Stu Bell Real Estate
Bank of Canade Raises Rates 1/4%
The Bank of Canada announced yesterday that it is raising its target for the overnight rate by one-quarter of one percentage point to 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.
The global economic recovery is proceeding but remains uneven, balancing strong activity in emerging market economies with weak growth in some advanced economies. In the United States, the recovery in private demand is being held back by high unemployment and recent indicators suggest a more muted recovery in the near term.
Economic activity in Canada was slightly softer in the second quarter than the Bank had expected, although consumption and investment have evolved largely as anticipated. Going forward, consumption growth is expected to remain solid and business investment to rise strongly. Both are being supported by accommodative credit conditions, which have eased in recent weeks mainly owing to sharp declines in global bond yields.
The Bank now expects the economic recovery in Canada to be slightly more gradual than it had projected in its July Monetary Policy Report (MPR), largely reflecting a weaker profile for U.S. activity. Inflation in Canada has been broadly in line with the Bank’s expectations and its dynamics are essentially unchanged.
Against this backdrop, the Bank decided to increase its target for the overnight rate to 1 per cent. As a result of monetary policy measures taken since April, financial conditions in Canada have tightened modestly but remain exceptionally stimulative. This is consistent with achieving the 2 per cent inflation target in an environment of significant excess supply in Canada.
This was a fairly unexpected Rate increase and if you have a variable or line of credit mortgage, your rate just went up .25%. There are currently fantastic fixed rates available and many people who believe the rates could keep climbing.
I also see Global recessions and problems in the US, London, and abroad that could well keep rates near all time lows. We had the same scare in the early Spring which resulted in a Bull market for April, May, June, and July. Much of this could have been the Olympic Glow / Benefits of The Olympic Infrastructure and Global Advertising, especially with so many Gold Medal & Crosby's Golden Goal! I correctly predeicted a hot market during and after the Olympics when many Realtors felt it would be quite.
Now I wonder if pent up demand from the summer months, fantastic fixed rates like 2.59% 3 year fixed and 3.59% 5 year fixed, and another scare that rates may climb will drive a busy Fall market that many would traditionally expect, when kids are back in school and adults are back to work.
Please follow me on Twitter for More http://www.twitter.com/StuBellRealtor
Find me on Facebook http://www.facebook.com/StuBellRealEstate
Call me at 604.562.0532 and write to stu@stubell.com.
Have a great day enjoying this Beautiful City!
Stu Bell
Prudential Sussex Realty
The global economic recovery is proceeding but remains uneven, balancing strong activity in emerging market economies with weak growth in some advanced economies. In the United States, the recovery in private demand is being held back by high unemployment and recent indicators suggest a more muted recovery in the near term.
Economic activity in Canada was slightly softer in the second quarter than the Bank had expected, although consumption and investment have evolved largely as anticipated. Going forward, consumption growth is expected to remain solid and business investment to rise strongly. Both are being supported by accommodative credit conditions, which have eased in recent weeks mainly owing to sharp declines in global bond yields.
The Bank now expects the economic recovery in Canada to be slightly more gradual than it had projected in its July Monetary Policy Report (MPR), largely reflecting a weaker profile for U.S. activity. Inflation in Canada has been broadly in line with the Bank’s expectations and its dynamics are essentially unchanged.
Against this backdrop, the Bank decided to increase its target for the overnight rate to 1 per cent. As a result of monetary policy measures taken since April, financial conditions in Canada have tightened modestly but remain exceptionally stimulative. This is consistent with achieving the 2 per cent inflation target in an environment of significant excess supply in Canada.
This was a fairly unexpected Rate increase and if you have a variable or line of credit mortgage, your rate just went up .25%. There are currently fantastic fixed rates available and many people who believe the rates could keep climbing.
I also see Global recessions and problems in the US, London, and abroad that could well keep rates near all time lows. We had the same scare in the early Spring which resulted in a Bull market for April, May, June, and July. Much of this could have been the Olympic Glow / Benefits of The Olympic Infrastructure and Global Advertising, especially with so many Gold Medal & Crosby's Golden Goal! I correctly predeicted a hot market during and after the Olympics when many Realtors felt it would be quite.
Now I wonder if pent up demand from the summer months, fantastic fixed rates like 2.59% 3 year fixed and 3.59% 5 year fixed, and another scare that rates may climb will drive a busy Fall market that many would traditionally expect, when kids are back in school and adults are back to work.
Please follow me on Twitter for More http://www.twitter.com/StuBellRealtor
Find me on Facebook http://www.facebook.com/StuBellRealEstate
Call me at 604.562.0532 and write to stu@stubell.com.
Have a great day enjoying this Beautiful City!
Stu Bell
Prudential Sussex Realty
Tuesday, September 7, 2010
Mortgage Rates Drop Again to New Lows!
Despite the spring rush to lock in interest rates when everyone was certain they would climb to 5% or even 10%, we now enter the fall and rates have just dropped lower than they were in the Spring of this year.
The Prime Rate today is 2.75%; and the lenders I work with are now offering an unprecedented 3.45% 5 year fixed mortgage and a 3 year fixed of 2.59%! The Best Available Variable rate is 2.05%.
Depending on your investment strategy, monthly budget, down payment, and price point, the term of your mortgage is very important and a mortgage broker will be able to fit you with the right mortgage that is best for you.
With recessionary problems in the US and abroad, and the Canadian Rock Solid Banking System, it appears our lending system is in excellent shape and Buyers should be very optimistic about our mortgage rates in the years to come.
With increased supply, slower demand, and historic low interest rates, the Fall appears to be a very smart time to enter the Vancouver Real Estate Market.
If you have any questions about Vancouver Real Estate please contact me at 604.562.0532 or email stu@stubell.com.
The Prime Rate today is 2.75%; and the lenders I work with are now offering an unprecedented 3.45% 5 year fixed mortgage and a 3 year fixed of 2.59%! The Best Available Variable rate is 2.05%.
Depending on your investment strategy, monthly budget, down payment, and price point, the term of your mortgage is very important and a mortgage broker will be able to fit you with the right mortgage that is best for you.
With recessionary problems in the US and abroad, and the Canadian Rock Solid Banking System, it appears our lending system is in excellent shape and Buyers should be very optimistic about our mortgage rates in the years to come.
With increased supply, slower demand, and historic low interest rates, the Fall appears to be a very smart time to enter the Vancouver Real Estate Market.
If you have any questions about Vancouver Real Estate please contact me at 604.562.0532 or email stu@stubell.com.
Thursday, September 2, 2010
August 2010 Real Estate Stats for Greater Vancouver
Buyers Market as Stable Conditions Continue
September 2, 2010
Conditions in the Greater Vancouver housing market continued to favour buyers in August. Since April, prices have edged down slightly as the number of sales and the number of properties coming on to the market have been declining.
The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totalled 2,202 in August 2010. This represents a 36 per cent decline from the 3,441 sales in August 2009, the second highest selling August ever recorded, and a 2.4 per cent decline compared to July 2010.
From a wider perspective, last month’s residential sales represent a 40.4 per cent increase over the 1,568 residential sales in August 2008, a 34.9 per cent decline compared to August 2007’s 3,384 sales, and a 26.6 per cent decline compared to August 2006’s 2,998 sales.
New listings for detached, attached and apartment properties declined 17.5 per cent to 3,750 in August 2010 compared to August 2009 when 4,544 new units were listed. Total active listings in Greater Vancouver currently sit at 15,421, a 6.1 per cent decline from last month and a 29 per cent increase from August 2009.
“We’re seeing moderate demand, low interest rates and a healthy but slowing stream of supply in our marketplace, all variables that favour those looking to purchase a home,” Jake Moldowan, REBGV president said. “The last few months have also shown some stability when it comes to price fluctuations in the region, which is a welcome trend after reaching record highs in April.”
Since spring, housing prices have decreased 2.8 per cent compared to the all-time high reached in April when the residential benchmark price was $593,419. Over the last 12 months, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 6.9 per cent to $576,597 in August 2010 from $539,600 in August 2009.
“Canada remains an attractive destination for foreign buyers, a fact that continues to affect activity in the Greater Vancouver housing market,” Moldowan said.
Sales of detached properties in August 2010 reached 893, a decrease of 34.7 per cent from the 1,367 detached sales recorded in August 2009 and a 66.9 per cent increase from the 535 units sold in August 2008. The benchmark price for detached properties increased 8.5 per cent from August 2009 to $795,076.
Sales of apartment properties reached 935 in August 2010, a decline of 36.1 per cent compared to the 1,464 sales in August 2009 and an increase of 26.4 per cent compared to the 740 sales in August 2008.The benchmark price of an apartment property increased 4.5 per cent from August 2009 to $385,968.
Attached property sales in August 2010 totaled 374, a decline of 38.7 per cent compared to the 610 sales in August 2009 and a 27.6 per cent increase from the 293 attached properties sold in August 2008. The benchmark price of an attached unit increased 6.6 per cent between August 2009 and 2010 to $489,511.
Prices are slightly down and sales are down, but there is a lot of activity in the market and multiple offers and quick sales close to full asking are happening every day.
For the timid Buyer, I can reassure now is an excellent time to Buy, interest rates are low and are forecasted to stay low for the next 2-3 years, supply is up (unlike the spring when Demand sucked up all the good product) and good deals are out there to be had as motivated sellers are out there.
Buyers can wait a year but then what? Higher interest rates, tighter supply, and the average price may be 5% higher or lower?
I encourage people to get pre-qualified, if you have the money to invest, invest it. If you need a place to live, buy a home. For everyone waiting for the Vancouver market to crash you are going to be waiting for a long time. The only way I see the market crashing is if interest rates go way up, and if they do, guess what, your cost of borrowing is way up and you won't be able to Buy despite a depreciation in the average home price (unless you have cash).
Find a home you love, then get a tenacious Realtor like myself to get you a smoking deal, a deal reflective of a downturn in the market so over time as the market appreciates, you will have a rock solid asset you use and love and you build equity for your retirement or to upgrade to your next piece of Real Esate.
If you have any questions about the Vancouver Real Estate Market and Investing in Vancouver Real Estate please do not hesitate to contact me at 604.562.0532.
Best Regards,
Stu Bell
September 2, 2010
Conditions in the Greater Vancouver housing market continued to favour buyers in August. Since April, prices have edged down slightly as the number of sales and the number of properties coming on to the market have been declining.
The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totalled 2,202 in August 2010. This represents a 36 per cent decline from the 3,441 sales in August 2009, the second highest selling August ever recorded, and a 2.4 per cent decline compared to July 2010.
From a wider perspective, last month’s residential sales represent a 40.4 per cent increase over the 1,568 residential sales in August 2008, a 34.9 per cent decline compared to August 2007’s 3,384 sales, and a 26.6 per cent decline compared to August 2006’s 2,998 sales.
New listings for detached, attached and apartment properties declined 17.5 per cent to 3,750 in August 2010 compared to August 2009 when 4,544 new units were listed. Total active listings in Greater Vancouver currently sit at 15,421, a 6.1 per cent decline from last month and a 29 per cent increase from August 2009.
“We’re seeing moderate demand, low interest rates and a healthy but slowing stream of supply in our marketplace, all variables that favour those looking to purchase a home,” Jake Moldowan, REBGV president said. “The last few months have also shown some stability when it comes to price fluctuations in the region, which is a welcome trend after reaching record highs in April.”
Since spring, housing prices have decreased 2.8 per cent compared to the all-time high reached in April when the residential benchmark price was $593,419. Over the last 12 months, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 6.9 per cent to $576,597 in August 2010 from $539,600 in August 2009.
“Canada remains an attractive destination for foreign buyers, a fact that continues to affect activity in the Greater Vancouver housing market,” Moldowan said.
Sales of detached properties in August 2010 reached 893, a decrease of 34.7 per cent from the 1,367 detached sales recorded in August 2009 and a 66.9 per cent increase from the 535 units sold in August 2008. The benchmark price for detached properties increased 8.5 per cent from August 2009 to $795,076.
Sales of apartment properties reached 935 in August 2010, a decline of 36.1 per cent compared to the 1,464 sales in August 2009 and an increase of 26.4 per cent compared to the 740 sales in August 2008.The benchmark price of an apartment property increased 4.5 per cent from August 2009 to $385,968.
Attached property sales in August 2010 totaled 374, a decline of 38.7 per cent compared to the 610 sales in August 2009 and a 27.6 per cent increase from the 293 attached properties sold in August 2008. The benchmark price of an attached unit increased 6.6 per cent between August 2009 and 2010 to $489,511.
Prices are slightly down and sales are down, but there is a lot of activity in the market and multiple offers and quick sales close to full asking are happening every day.
For the timid Buyer, I can reassure now is an excellent time to Buy, interest rates are low and are forecasted to stay low for the next 2-3 years, supply is up (unlike the spring when Demand sucked up all the good product) and good deals are out there to be had as motivated sellers are out there.
Buyers can wait a year but then what? Higher interest rates, tighter supply, and the average price may be 5% higher or lower?
I encourage people to get pre-qualified, if you have the money to invest, invest it. If you need a place to live, buy a home. For everyone waiting for the Vancouver market to crash you are going to be waiting for a long time. The only way I see the market crashing is if interest rates go way up, and if they do, guess what, your cost of borrowing is way up and you won't be able to Buy despite a depreciation in the average home price (unless you have cash).
Find a home you love, then get a tenacious Realtor like myself to get you a smoking deal, a deal reflective of a downturn in the market so over time as the market appreciates, you will have a rock solid asset you use and love and you build equity for your retirement or to upgrade to your next piece of Real Esate.
If you have any questions about the Vancouver Real Estate Market and Investing in Vancouver Real Estate please do not hesitate to contact me at 604.562.0532.
Best Regards,
Stu Bell
Saturday, August 28, 2010
West and North Vancouver Open Houses this Weekend: August 28-29th!
I am pleased to be holding 3 Open Houses this weekend:
> Open Saturday August 28th, 33-884 Premier St, North Vancouver, 2-4pm!
2 Bed, 952 sq ft, Top Floor - $268,000.
Fully renovated with new laminate, granite countertops and window trim, large south facing BB friendly patio, Acres of trails and parks surround you, easy access to Second Narrows Bridge, No restrictions, utilities includes taxes and hot water/heat.
The Best 2 Bedroom Value on The Northshore for $268,000 = $281/sq ft!!
> Open Sunday August 29th, 1295 Ottawa Avenue, West Vancouver, 2-4pm!
11,500 sq ft LOT, 6 bedroom, 4,600 sq ft home! NEW PRICE! NOW $1,595,000!
Upper Ambleside Contemporary Post & Beam Home with stunning views of Lions Gate Bridge, Downtown Vancouver, and the ocean. Large, sun drenched property on a family friendly Lot with 145 ft frontage, fenced Pool, wrap around driveway, and and In-Law suited currently tenanted for $1100.
The Best Value in West Vancouver!
> Open Sunday August 29th 2-4pm, 801-1427 Duchess Avenue. $1,178,000!
Ambleside Penthouse stapes from the Beach with Stunning Panoramic Ocean, Lions Gate Bridge, Stanley Park, and Mounain Views! Ideal for Professionals or Empty Nesters!
1350 sq ft, 14 ft ceilings, 2 BR with guest suite on main floor, and a 600 sq ft rooftop patio with Hot Tub!
> Open Saturday August 28th, 33-884 Premier St, North Vancouver, 2-4pm!
2 Bed, 952 sq ft, Top Floor - $268,000.
Fully renovated with new laminate, granite countertops and window trim, large south facing BB friendly patio, Acres of trails and parks surround you, easy access to Second Narrows Bridge, No restrictions, utilities includes taxes and hot water/heat.
The Best 2 Bedroom Value on The Northshore for $268,000 = $281/sq ft!!
> Open Sunday August 29th, 1295 Ottawa Avenue, West Vancouver, 2-4pm!
11,500 sq ft LOT, 6 bedroom, 4,600 sq ft home! NEW PRICE! NOW $1,595,000!
Upper Ambleside Contemporary Post & Beam Home with stunning views of Lions Gate Bridge, Downtown Vancouver, and the ocean. Large, sun drenched property on a family friendly Lot with 145 ft frontage, fenced Pool, wrap around driveway, and and In-Law suited currently tenanted for $1100.
The Best Value in West Vancouver!
> Open Sunday August 29th 2-4pm, 801-1427 Duchess Avenue. $1,178,000!
Ambleside Penthouse stapes from the Beach with Stunning Panoramic Ocean, Lions Gate Bridge, Stanley Park, and Mounain Views! Ideal for Professionals or Empty Nesters!
1350 sq ft, 14 ft ceilings, 2 BR with guest suite on main floor, and a 600 sq ft rooftop patio with Hot Tub!
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