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Vancouver, BC Real Estate News

By maggie chandler
(chandler realty)
It happens on Friday October 31st. See what's on in the city for Halloween entertainment. Halloween dates back to the ancient Celtic festival of Samhain. The Celts lived 2000 years ago in what we now know as Ireland, the UK and northern France. October 31st marked the end of summer and the harvest and it was believed that the ghost of the dead returned to earth. In addition to causing trouble and damaging crops, Celts thought that the presence of the otherworldly spirits made it easier for the Druids, or Celtic priests, to make predictions about the future. For a people entirely dependent on the volatile natural world, these prophecies were an important source of comfort and direction during the long, dark winter. History.com relates how this Celtic fest evolved into Halloween.  
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By maggie chandler
(chandler realty)
More and more I hear how tight the rental situation is in Vancouver and some of the bottom end of vancouver real estate is being purchased by parents for their student kids or first time buyers who are paying hight rents and by young people moving into the province. This article recently appeared in the Vancouver Sun.  An "extreme shortage" of studio and one-bedroom apartments in Vancouver is driving parents, students and pet owners out of the rental market and leading to lineups for the city's few vacant suites.The vacancy rate for bachelor suites has plummeted to 0.3 per cent, compared to the national average of four per cent for major Canadian cities, according to the most recent data from the Canadian Mortgage and Housing Corporation. Vacancy rates for studio and one-bedroom apartme...
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By maggie chandler
(chandler realty)
Here are some recent reports about the Canadian economy and Canada and Vancouver's real estate market.  A new RBC study conducted during the market turmoil in October finds overall intentions to purchase a home in the next two years remain steady at 22 per cent and have not changed since January 2008. As well, renovation intentions are slightly higher than last year - up four percentage points as  70 per cent of respondents are planning to renovate or make home improvements in the next two years. Bank of Canada dropped rates a quarter of a point on October 21st and reports the Canadian economy will be sluggish til Q2 next year and accelerate to above potential growth in 2010. read the rest of this post
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By Kye Grace
(Sutton Group - West Coast Realty)
With all the advances in technology I am curious how home buyers are searching for real estate? I ran into Ian Watt this morning at Raging Bean Coffee in Yaletown. Ian asked me how tech savvy I thought the residents of my neighbourhood were (Fairview, Vancouver). Fairview doesn't strike me as the most tech savvy area, although in hindsight this was based on my perception of the demographics and may not be accurate. What follows is a description of the various methods one could use to search for properties for sale and a poll asking which is the first method you would use. Please take a minute to answer the poll, it would be most appreciated. You can find the poll here http://www.kyegrace.com/ViewBlog/105/ MLS.ca/Realtor.ca - a website managed by the Canadian Real Estate Association whi...
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By maggie chandler
(chandler realty)
Vancouver real estate owners have been bombarded over the last two months with negativity by the press. Now everyone's a real estate guru! And guess what? They have the ability to see into the future and predict it. The stock market plunges, house prices are falling, Canadian economy slowing down and may go into a  recession. That's the daily news. What goes up must come down and vice versa. This isn't the first time Vancouver's real estate market has corrected and it won't be the last. The world is not coming to an end. It'll work through this mess. Personally, i'm tired of the press and its negativity and I'm not watching or reading about it any more. There's nothing I can do about it anyway! Here's my Top Ten Don't Worry Be Happy List! Read the rest of this entry
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By maggie chandler
(chandler realty)
Vancouver enjoys many festivals and cultural events throughout the year.  Following is a list of the biggest ones, published by Business In Vancouver. HSBC's celebration of Light comes in first with 1.5 million people attending. This Vancouver Event  held in the summer and started in the '80s, when it was sponsored by Benson & Hedges, prior to the Government of Canada banning cigarette companies from sponsoring public events. Fireworks extraordinare!  The Fair at the PNEis the runner-up with three quarters of a million attending. Vancouver's Pride Parade  and TD Canada Trust International Jazz Festival boasts half a million attendees. CelticFest Vancouver. is the fifth largest event and boasts a quarter of a million attendees. Vancouver International Film Festival, Canada Day at Canada ...
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Flatiron will be opening soon and is the neighbourhood's newest development.  It is a luxury condo located at 1277 Melville Street, Vancouver.   Condos in Coal Harbour are considered the waterfront neighbourhood of choice when it comes to Vancouver real estate. Triangles where meeting of the West End, Coal Harbour and Stanley Park. The triangular intersection of Melville, Pender and Jervis, and the Flatiron: designed with inspiration from the old triangular Flatiron building in New York City. Described as a "lithe and elegant tower", the Flatiron makes maximum use of a small triangle of land. Read the rest of this post
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By maggie chandler
(chandler realty)
Take a look at what's happening in the Canada real estate market.  The big cities of Toronto, Montreal Vancouver, Calgary are down and the small ones like Winnipeg, Halifax, St. Johns Newfoundland are up. Vancouver - prices down according to Vancouverreflections Edmonton -  prices down according to TheEdmontonRealEstateBlog Calgary- prices down according to TheCalgaryRealEstateBlog Saskatoon- prices down according to SaskatoonOnLine Winnipeg -sellers market is changing  according to WinnipegRealEstateBlog Toronto - prices down 15% in October according to MoveSmartly Mississagua - prices down according to MississaugaRealEstateHomes read the rest of this post
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By Kye Grace
(Sutton Group - West Coast Realty)
This does not directly relate to real estate in Metro Vancouver but it can't always be ‘all business'! Tim Ayres tagged me in the ‘5 Things' Meme, seemed like fun so here you have it. Here is a collection of 5 things about me you may not have known. 5 things I was doing 10 years ago: 1. Working for BC Ambulance Service as a Paramedic and Dispatcher. 2. Living in Whistler in winters skiing as many days as I could. 3. Not buying a condo in the Savoy at 928 Richards despite a strong urge to do so. Damn. 4. Being single and loving it. 5. Settling in for a lifelong government job. Thank goodness things change! 5 things on my to do list today: 1. Picking up a cheque, always a positive! 2. Calling expired listings. 3. Follow up with a couple of clients. 4. Working on my websites and getting a...
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In this excellent Vancouver real estate buyer's market, it's a good idea for sellers to look at which price ranges are selling and which aren't, then they can make an informed decision whether they should be listing their Vancouver condo, or making alternate plans. The Real Estate Board's stats for the year show there have been 3,051 condo sales in Vancouver (west side) til the end of September. As Vancouver real estate prices continue to slide The best selling price range is $350,000 to $400,000 (about 17% of the total sales). Closely followed is the $300,000-350,000 (14%) and $400,000 to $450,000 (13%)price range. Concluding that most of the buyers are in the $300,000 to $450,000 range (44%).  read the rest of this post
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By Kye Grace
(Sutton Group - West Coast Realty)
http://kyegrace.com People often ask me how long will real estate prices go down? When will the real estate market turn around? House prices will go higher than before, right? I don't know. I have opinions on it which would be too long winded to share here. I ask you, what event do you see occurring that will reverse the trend of dropping real estate prices? What do you see happening in the next 18 months that will motivate people to return to feverish buying of real estate? Now I am not in the ‘doom and gloom’ camp that many are. I am simply asking you the question that I ask myself each day when I contemplate if the market has bottomed yet. I think what we are going through is healthy, painful but very healthy for the economy and our long term financial well being. The lessons learne...
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By Kye Grace
(Sutton Group - West Coast Realty)
Is the environment a factor in your decision when buying real estate in Metro Vancouver or British Columbia? A large portion of green house gases are created by the buildings we live and work in, some estimates are as high as 55%. Both municipal and provincial governments are requiring efforts by builders. Here is a link to the City of Vancouver's requirements and below is a summary of the provincial government's changes. The British Columbia government is taking steps to make the province a greener place to live. New Building Code requirements that came into effect September 5 are claimed to "green the B.C. Building Code," and are the first steps designed to reduce greenhouse-gas emissions related to all construction. "Greening the B.C. Building code will reduce the environmental foot...
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By maggie chandler
(chandler realty)
Vancouver's Downtown condo market saw listings decrease in September, versus August, and sales slightly lower. Average days on the market for condos that sold increased to 50. The average price for Downtown condos that sold dropped to only $379,000. The average $ pr sq ft for condos that sold is only $565 (given that new construction starts at $700 pr sq ft, there is real value in resale condos).  90% of the sales were under $500,000.  Best selling price range is under $400,000. Vancouver's Downtown has almost a year's worth of inventory.  Listings - 742 49 listings under $300,000. 217 listings between $300,000 and $400,000.  200 listings between $400,000 and $500,000.  227 between $500,000 and $1 million and 43 listed over one million dollars. The most expensive is $3.8 million for 380...
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By Kye Grace
(Sutton Group - West Coast Realty)
When you buy a home do you take security and crime into consideration? Do you want your Realtor to have data on crime in the areas you are looking? I would love to hear your thoughts, use the comments option below. The Vancouver Police Department has done an excellent job reducing auto theft, with our support they can continue to make further progress. Here are some tips to avoid auto crime from ICBC * Keep your spare keys in your wallet, not in your car. * Invest in a good anti-theft device. * Close windows and lock doors. Take your possessions with you. * Avoid parking behind fences or hedges. * At home, light your driveway all night. Elsewhere, park in well-lit areas near pedestrian traffic. * After opening an automatic gate to underground parking, watch out for thieves waiting to s...
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By Kye Grace
(Sutton Group - West Coast Realty)
    With real estate prices falling in Vancouver, will this create an opportunity for people to buy a home where they want as opposed to where they can afford? Commuting costs are more expensive than ever, besides who wants to spend that time in their car as opposed to spending time with friends or family. It will be interesting to watch over the coming months as prices decline how many people choose to buy their first home in Vancouver and remain in Vancouver long term as a result.
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By Kye Grace
(Sutton Group - West Coast Realty)
Blog Action Day is an annual nonprofit event that aims to unite the world’s bloggers, podcasters & videocasters, to post about the same issue on the same day. Our aim is to raise awareness & trigger a global discussion. This year the topic is poverty. Everyone have causes they choose to support which I compliment you for doing so, I am curious how many choose poverty to the or one of the causes they support. This does not detract from anyone's efforts towards other causes, there are countless needs to be filled in this world and I thank for supporting any of these many needs.  There are two charities that combat poverty I choose to donate to from the income from my real estate business. Union Gospel Mission is a non-profit urban relief organization serving the Lower Mainland, providing...
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By Kye Grace
(Sutton Group - West Coast Realty)
In this slowing real estate market what will happen to the bad Realtors? Make no mistake there are bad Realtors. Every profession has underacheivers so I am not picking on just Realtors. What is nice about Realtors is outside of a real estate boom the population is thinned out. 'They' just won't survive; the realtors who are competent, have strong communication skills, and are constantly learning and adapting to change will. Three things I will be doing to ensure not only I succeed but more importantly my clients succeed are: 1. Constant learning - taking courses, studying the market harder than ever, reading as many blogs and articles I can on real estate to be on the cutting edge of what is really happening. 2. Improving my communication skills. I will strive to improve my ability to...
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Vancouver real estate analysis for False Creek North saw listings flat and sales up (two consecutive months).  Days on the market dropped from 56 to 40 and the average selling price decreased from  $799,000 to $631,944.   The average supply of condos in this waterfront neighbourhood dropped from 18 months to 16 months and the best selling price range is between $400,000 and $500,000. The slowest selling price range is over $800,000. Listings - 257 In False Creek North there are 14 listings under $300,000, 27 listed between $300,000 and $400,000, 27 listed between $400,000 and $500,000, 26 listed between $500,000 and $600,000, 12 listings between $600,000 and $700,000, 35 listings between $700,000 and $800,000, 36 listed between $800,000 and $900,000, 33 listings between $900,000 and $1 ...
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By maggie chandler
(chandler realty)
Vancouver real estate market analysis for Kitsilano condos saw sales for the month of September flat at 24, versus 25 in August. Listings up from 165 to 184. Average price for sold condos dropped from $416,240 to $408,,159. Average Days on the market dropped from 37 to 32. September saw a bottom end market with no sales above $600,000 in this hood. Seven and a half months supply of condos. Kitsilano prices are off 10% since January. Listings 184 - 7 listings under $300,000. 46 listed between $300,000 and $400,000. 60 between $400,000 and $500,000. 32 listings between $500,000 and $600,000. 20 listed between $600,000 and $700,000. 11 listings between $700,000 and $800,000. 4 between $800K and $1 million and 4 over $1 million. Listings Sept 184, Aug 166, July 159, Jun 157, May 145, Apr 13...
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Vancouver's Coal Harbour statistics for September show listings up to 245 from 220 in August.  Sales 16, up from August.  Days on market up to 83, from 73 in August and average selling price down slightly from $1,513,062 to $1,569,772,. More condos selling over $1 million than under $1 million in September.  There is currently a fifteen month supply of condos in Coal Harbour Listings - 245 59 Coal Harbour condos listed under $500,000.  90 listed between $500,000 and $1 million.  67 listed between $1 and $2 million.  8 listed between $2 and $3 million. 14 listed between $3 and $5 million and 7 listed over $5 million. The least expensive is a studio condo at $289,000 and the most expensive coal harbour listing is 3300 sq.ft at Harbour Green Two (1169 West Cordova) on the 21st floor, liste...
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