Weekend Opens August 15-17

Friday August 15th: The Properties by Quigg, Whitby Estates, West Vancouver 2-4pm

Located in one of the most exclusive neigbourhoods in West Vancouver "Whitby Estates" this Penthouse truley represents the utmost in Luxury and Design. The design of The Properties is one of pure simplicity and understated naturalism. No man-made structure could ever compete with the grandeur of this landscape. Nestled on this sloping site just below the treeline, where forests climb toward the peak of Hollyburn Mountain. Every detail is deliberately reserved, letting nature hold centre stage. Each building is terraced into the slope and surrounded by evergreens. Enjoy panoramic ocean & City views with 12' ft. floor to ceiling windows, stainless steal Meile & Sub-zero appliances, extensive use of marble, slate, and limestone ..Call Stu for your private viewing.

Saturday August 16th : 2109 Kings Ave, Dunderave, West Vancouver

Beautifully appointed new contemporary home offering approximately 4100 sq.ft. of living on three spacious levels. Large open rooms with wrap around, over-sized picture windows offer a dramatic panorama of the West Vancouver shoreline to Lighthouse Park and Vancouver Island. The large open main level features dark polished floors with matching millwork, built-in custom cabinetry and extensive ceiling detail throughout. A stunning fully appointed designer kitchen features top of the line stainless steel appliances, large centre granite island and a private terrace ideal for summer entertaining. Offered for $2,395,000.

Sunday August 17th: 4317 Rockridge Rd, Caulfield, West Vancouver, BC

Spectacular almost new Rockridge home, boasting over 6000 sq. ft. of luxury living space with 180 degree harbour and city views. Features include a negative edge pool and spa and gorgeous sun drenched patios and terraces. This home offers large principal rooms including stunning kitchen and family rooms and a spa like master and ensuite. There are many built-ins including a temperature controlled wine cellar, theatre and exercise rooms plus a self-contained nanny suite. A wonderful home for a family with too many extras to list. Offered for $3,995,000.

North Shore Real Estate July 2008 Update

In West Vancouver, there were 37 homes sold in July 2008 compared to 83 homes sold in July 2007 and 45 homes sold in June 2008. The West Vancouver sales to new listings ratio was 26% for the month of July. This represents a "buyer's market". The inventory of homes for sale in West Vancouver has increased by 85% compared to July 2007. In West Vancouver the sales YTD have decreased by 25% from the same time period in 2007. The year to date (YTD) average price went down slightly from $1,866,086 as of June 30, 2008 to $1,861,388 as of July 30, 2008.

In North Vancouver, there were 75 homes sold in July 2008 compared to 94 homes sold in July 2007 and 78 homes sold in June 2008. The North Vancouver sales to new listings ratio was 48% for the month of July. This represents a "balanced market". The inventory of homes for sale in North Vancouver has increased by 105% compared to July 2007. In North Vancouver the sales YTD have decreased by 20% from the same time period in 2007. The YTD average price in July 2008 ($991,669) has increased by 15% compared to July 2007 ($855,039).

Detached Homes

West Vancouver July 2008

Sales 37 - Sales YTD 368 - Avg. Price YTD $1,861,388 $- Active Listings 557 - Median Price $1,360,000

North Vancouver

Sales 75 - Sales YTD 603- Avg. Price YTD $991,669 - Active Listings 438 - Median Price $851,000

Thanks and Happy Home hunting!

Stuart Bell
www.stubell.com
604.562.0532

Mortgage Tips: Using Your RRSP as a Down Payment

A great way to access cash for a down payment is through the Home Buyers Plan which is a program set up by Canada Revenue Agency (CRA - formerly Revenue Canada). The Home Buyers Plan (HBP) allows each individual who will be occupying a home to withdraw up to $20,000 from their RRSP to buy or build a home without being taxed. This would mean that three people buying a home could withdraw up to $60,000 collectively as long as they meet all of the CCRA HBP conditions.

This program is usually restricted to first time home buyers or those individuals who have not owned a home for a required period. To check out all of the conditions of eligibility please check out the CCRA website using the following link: http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/rrsp-reer/hbp-rap/menu-eng.html

In addition to the conditions outlined on the above website, the amount that you wish to withdraw for your home purchase needs to be in your RRSP for at least 90 days prior to the withdrawal. It can be withdrawn as a lump sum or as a series of withdrawals as long as they all take place in the same calendar year. Once you have made the withdrawal, you must repay this amount back to your RRSP over a 15 year period. Normally you are required to repay 1/15th each year following the withdrawal but you can repay larger amounts if you wish. By repaying the minimum amount each year there will be no personal tax liability incurred from the HBP.

Because your earnings usually increase each year it is a good idea to pay back the amount you withdrew as quickly as possible. Since the amounts that you repay to your RRSP are not tax deductible a second time, the faster you repay it, the sooner you are able to receive a higher tax deduction for your RRSP contributions in your higher income earning years. In addition to this you are receiving more years of tax sheltered growth on the entire amount while it is in your RRSP.

Please contact Stuart to answer your questions.

Weekend Opens August 9-10

Saturday August 9th 2-4pm

The Properties by Quigg Terrace and Penthouse
Whitby Estates, West Vancouver



The design of The Properties is one of pure simplicity and understated naturalism. No man-made structure could ever compete with the grandeur of this landscape. These seven buildings nestle on this sloping site just below the treeline, where forests climb toward the peak of Hollyburn Mountain. Every detail is deliberately reserved, letting nature hold centre stage. Each building is terraced into the slope and surrounded by evergreens; each building level is terraced so that views remain as magnificent as the sea below. Soft palettes of textured concrete and honey-toned ledgestone frame broad glass walls and windows, letting the buildings retreat into the landscape. Expansive rooms with soaring ceilings open onto massive decks and terraces, erasing boundaries between indoor and outdoor living. Call Stuart for your private showing or visit StuBell.com for more information.

#301 2225 Twin Creek offereed for $2,595,000
#401 2225 Twin Creek offered for $5,950,000

Sunday August 10th 12-2pm

4317 Rockridge Road, Caulfield, West Vancouver



Spectacular almost new Rockridge home, boasting over 6000 sq. ft. of luxury living space with 180 degree harbour and city views. Features include a negative edge pool and spa and gorgeous sun drenched patios and terraces. This home offers large principal rooms including stunning kitchen and family rooms and a spa like master and ensuite. There are many built-ins including a temperature controlled wine cellar, theatre and exercise rooms plus a self-contained nanny suite. A wonderful home for a family with too many extras to list. Spectacular!

JULY '08 MARKET NEWS

Month-over-month housing prices retreat from record highs

VANCOUVER, B.C. – Aug 5, 2008 – As property listings continue to outpace sales, Greater Vancouver housing prices have drawn back, the last two months, from the record highs experienced in early 2008.

Since May 2008, housing prices, as calculated by the MLSLink Housing Price Index®, across each residential category have declined. Detached properties in Greater Vancouver declined 2.3 per cent through June and July 2008, while attached were down 1 per cent and apartment properties 2 per cent over the same period.

The overall benchmark price for all residential properties in Greater Vancouver has declined 2.1 per cent since the end of May 2008, from $568,411 to $556,605 in July 2008.

“We’re seeing more price reductions in properties listed on the market, which is having a levelling impact on the housing price increases experienced at the end of last year and into the first quarter of 2008,” said Real Estate Board of Greater Vancouver (REBGV) president, Dave Watt. “There was a slight decline in the total active listings on the market in July compared to June, which is a welcomed departure from recent trends.”

Residential property sales in Greater Vancouver declined 43.9 per cent in July 2008 to 2,174 from the 3,873 sales recorded in July 2007.

New listings for detached, attached and apartment properties increased 24 per cent to 6,104 in July 2008 compared to July 2007, when 4,924 new units were listed.

Sales of detached properties in July 2008 declined 44.2 per cent to 827 from the 1,483 units sold during the same period in 20070. The benchmark price for detached properties is up 5.4 per cent from July 2007 to $753,165.

Sales of apartment properties declined 42.3 per cent last month to 966, compared to 1,674 sales in July 2007. The benchmark price of an apartment property increased 4.7 per cent from July 2007 to $381,687.

Attached property sales in July 2008 decreased 46.8 per cent to 381, compared with the 716 sales in July 2007. The benchmark price of an attached unit increased 5.7 per cent between July 2007 and 2008 to $473,953.


The Real Estate industry is a key economic driver in British Columbia. In 2007, 38,050 homes changed hands in the Board's area generating $1.065 billion in spin-offs. Total dollar volume of residential sales set a new record at $22.25 billion and total dollar volume of all sales set a record at $22.77 billion. The Real Estate Board of Greater Vancouver is an association representing more than 9,600 REALTORS®. The Real Estate Board provides a variety of membership services, including the Multiple Listing Service®. For more information on real estate, statistics, and buying or selling a home, contact Stuart Bell.