Vancouver, BC Real Estate News

By maggie chandler
(chandler realty)
In Canada, Thanksgiving is celebrated on the second Monday in October - that would be this Monday 13th and its a stautory holiday, so we can enjoy a long weekend and get together with family. Do you know how Thanksgiving in Canada started? Here's what Wikipedia says The history of Thanksgiving in Canada goes back to an explorer, Martin Frobisher, who had been trying to find a northern passage to the Orient. In the year 1578, he held a formal ceremony, in what is now the province of Newfoundland and Labrador, to give thanks for surviving the long journey. This feast is considered by many to be the first Thanksgiving celebration in North America, although celebrating the harvest and giving thanks for a successful bounty of crops had been a long-standing tradition throughout North America ...
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By maggie chandler
(chandler realty)
Vancouver real estate in the West End saw September listings  up a tad from 246 in August to 257 in September. Sales were up from 25 in August to 29 in September. The days on the market for condos that sold increased from 57 to 65.   The average selling price increased from $392,000 to $447,834. The West End has nearly a nine month supply of condos for sale. Listings - 257 2008 Listings - Jan  168, Feb 172 ,  Apr 232 , May  241 , June 235, July 235, Aug 246, Sept 257 41 listed $300,000. 68 listings between $300,000 and $400,000. 50 listed between $400,000 and $500,000. 29 listings between $500,000 and $600,000. 39 listings between $600,000 and $1M and 30 listings over $1 million. The least expensiveis a one bedroom at 1250 Burnaby, 540 sq.ft., 99 year leasehold concrete building with a ...
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By maggie chandler
(chandler realty)
These graphs show the monthly listings, sales, average and median price and dollar volume. In additon you can view what price range is selling the best. Each graph shows separate categories for houses, townhouses and condos. The graphs show the monthly stats for 2008. View it here
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By maggie chandler
(chandler realty)
Since I am partial to stats and demographics, I thought a graph for each of the Vancouver real estate condo neighbourhoods that border the waterfront would be useful to buyers and sellers. The above Vancouver real estate graphs for 2008 show the five different waterfront condo neighbourhoods. Each graph is a snapshot of the monthly listings, sales, days on the market and average price for that neighbourhood. The average price will reflect the price range of the sales for that month. You will note that Coal Harbour's monthly sales are down but the average price is up, indicating the more expensive properties are now selling. The listings and days on the market are up in all the hoods and the monthly sales are down from January. Do you have a graph for Vancouver real estate you'd like me ...
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By James Wong Vancouver Richmond, Chinese Realtor, Vancouver > Richmond
Mellinium Water Vancouver's Olympic Village  - Trouble Ahead? As the credit crisis south of the border begins to creep north, concerns are mounting over the impact it may already be having on construction of the athletes' village for the 2010 Winter Games.Last week, members of Vancouver's city council held an emergency, in-camera meeting to get an update on the project. Much of the discussion revolved around the city's obligation in the event the developer, Millennium Development Corp., can't meet demands from the bank because of massive cost overruns, according to sources briefed on the meeting.Click here to read the full article. Another article in the Vancouver Sun "2010 Games in Crisis" raised concerns that B.C. taxpayers could be on the hook for about $1.5 billion. Just a week ago,...
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By Kye Grace
(Sutton Group - West Coast Realty)
    Here are eight things that will determine market value of a home for sale. True market value of real estate is what a buyer is willing to pay, nothing more, nothing less. 1.The current market condition We are currently in a buyer's market. 2.The amount of competition There is immense competition especially for townhouses and condos which are often very similar. 3. Current Financing This week variable rates are at or above prime raising the cost of buying. 4. Current Economic Conditions Downmarket, recession, depression, stock market crash, price of oil plummeting...all headlines this week. Not all accurate but perception is a powerful thing. 5. Buyer's Perception of the Properties Condition Curb appeal and how your home shows can influence the buyer particularly regarding their per...
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By Alphonse J. Quenneville
(Royal LePage Northshore)
The "Q" Report Rapidly deteriorating credit conditions in Canada and around the globe, has motivated the Bank of Canada to join the U.S. Federal Reserve, European Central Bank and three other central banks Wednesday in cutting interest rates by 50 basis points. As a result, the Bank of Canada's benchmark lending rate stands at 2.5%. I expect that the Canadian central bank is not finished with rate reductions, with more reductions to come. TD Canada Trust today announced that it has lowered its prime lending rate by 25 basis points to 4.50 per cent, effective October 9, 2008.  It is likely that the other Canadian banks will follow suit.
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By maggie chandler
(chandler realty)
The REBGV reports that Greater Vancouver residential property sales declined 42.9% in September'08 to 1,585 from 2,776 sales recorded in Sept'07. Sales were flat compared to 1,568 in Aug'08. New listings for detached, attached and apartment properties increased 28.8% to 6,142 in Sept'08 compared to Sept'07, when 4,770 new units were listed. In Aug'08 there were 4,331 new listings.  "After 5 years of unprecedented increases, housing prices are beginning to realign" REBG president Dave Watt said. "Although the economic situation in the U.S. has affected consumer confidence globally, the consensus view remains that our local housing market is underpinned by solid economic fundamentals." Sales of houses declined 50.3%% to 546, from 1,099 sales in Sep'07 and up from 535 in Aug08. The benchma...
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By maggie chandler
(chandler realty)
 The average price chart for Vancouver real estate tells the story.  Since 1977,  periods in each of the past three decades there have been dips in the market. The chart also illustrates that real estate has consistently been an appreciating investment over time. The degree of increase depends on the type of unit bought and its location.  In 2003, we see that a buyer of a detached home on Vancouver's Westside, or in West Vancouver, would have an investment that has doubled in value since then. A buyer of a home in Vancouver Eastside has seen their home appreciate 83 per cent. In Coquitlam that same house would be up 80 per cent. Squamish has had ta 33 per cent price increase for a detached home since 2003, and Pitt Meadows a 49.5 per cent increase. Vancouver Condominium buyers have fare...
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By Kye Grace
(Sutton Group - West Coast Realty)
    How will real estate prices react now that the Canada Line and Residential/Commercial construction is wrapping up along Cambie Street in Vancouver? With the Vancouver market moving downwards will the traffic and neighbourhood returning to normal change this trend in this neighbourhood? I kind of doubt it but only time will tell.
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By Kye Grace
(Sutton Group - West Coast Realty)
    www.momentumgrooming.com I am continuing my series of highlighting Vancouver independent business in neighbourhoods with real estate for sale. As a Realtor I often get jabs, pokes and constructive feedback regarding my facial hair from clients, peers and friends. It seems people assume that I have not shaven in my pictures, videos or on my live show ( http://propertyegg.ca ). I shave everyday and according to Graham Bingham of Momentum Grooming I have a dark thick beard so inevitably it will appear sooner in the day. So there! Graham spent the time to help me choose a shaving cream to help provide a closer shave along with some great dialogue about the history of shaving and other products I may want to consider down the road. Coming in November you will be able to go to Momentum a...
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By James Wong Vancouver Richmond, Chinese Realtor, Vancouver > Richmond
Vancouver Spectrum Condos, Yaletown Spectrum 1 - 111 West Georgia Street, 30 levels - 221 condos Spectrum 2 - 668 Citadel Parade, 27 levels - 222 condos Spectrum 3 - 131 Regiment Square, 26 levels - 211 condos Spectrum 4 - 602 Citadel Parade, 32 levels - 245 condos The last 2 of Spectrum Tower 3 & 4 of four towers were completed by the fall of 2007. The neighborhood came to live when Costco opened it's Downtown Vancouver store in 2006. Presale condo buyers were the lucky ones who recognized the incredible values Spectrum condos had to offer. The presale condos were selling at $129,000 for the 483 sq ft studio units and up to $375,000 for the larger 958 sq ft 2 bedroom + den condos. Click here for price range for resale Spectrum condos over the past 12 months - up to September 30, 2008. ...
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By maggie chandler
(chandler realty)
Landcor Data Corp'sreport "Lessons from expos 86 for the 2010 Olympic Games" looks at construction and price appreciation resulting from the Expo Line, completed in 1985 for Expo 86, and then applies the lessons learned to the Canada Line, being completed in time for the 2010 Winter Games. Though the Vancouver real estate market may be cooling, the property owners along the Canada Line could see values rise at a faster rate than elsewhere, if trends seen around the expo Line continue. Rapid transit can have a big impact on residential real estate construction and prices. The Landcor report found that in the decade following Expo Line completion, home prices along the line increased at the same rate as the overall housing market in Expo Line communities. But between ‘86 and ‘96  vacant l...
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By Alex Jopson
(The JOPSONS - Sutton Group - West Coast Realty)
Listing by Deri Jopson - The Jopsons - Prudential Sterling Realty Unit #602 - 1633 West 10th Ave "Hennessy House" exclusive South Granville location. 1633 West 10th Avenue! Rare 2 storey unit. Awesome city and mountain views. Best seat in the house for fireworks display! Immacuately kept building and home. Kitchen, living & dining rooms on one level, bedrooms on the other. Kitchen has Thermador wall oven and cook top, Sub Zero Fridge, garbage compactor & garburator. There are 2 balconies, one on each level. 2 side by side parking. Right in the heart of vibrant South Granville shopping district. Steps to restaurants, art galleries, theatre, and exclusive shops. Walk to Granville Island. Rentals are allowed. Maint. Fee: $287.02 Room Measurements: Main F. Living Room 13'8 x 11'3 Main F. Ki...
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By maggie chandler
(chandler realty)
The Sapphire in Vancouver's Coal Harbour recently opened and is one of  Coal Harbour's newest condo buildings. As Vancouver's real estate market continues to grow, Canada Post shows there are now over 4000 condos in Coal Harbour.  Developer - Pinnacle has been a developer of Vancouver real estate for a long time Features: security card access, high speed elevators, electric fireplaces The Building: 34 storeys and 112 suites. Read the rest of this post
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By James Wong Vancouver Richmond, Chinese Realtor, Vancouver > Richmond
The Markket For Downtown Vancouver Condos Most of the condos in downtown Vancouver can be found around Vancouver City Centre, Coal Harbour, False Creek South, False Creek North/Yaletown and Vancouver Westend. Currently, there are around 1,535 condos listed for sale in the above mentioned neighborhoods. More than 50% of these condos are under 5 years old. 532 units, or one-third of these condos are under 2 years old! Wide Selection of Condos For buyers who prefer to live in downtown Vancouver, they have to research the market and find the homes that meet their requirements. Teh smaller studio condos may sell from $200,000 to the larger waterfront new condos at Coal Harbour selling at prices over $3.0 million. Generally, condo prices are higher in downtown Vancouver. There are also many c...
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By James Wong Vancouver Richmond, Chinese Realtor, Vancouver > Richmond
Condo buyers are faced with the question whether this is the right time to buy a downtown Vancouver condo. What is certain is that prices have definitely come down. While selling prices are expected to continue to decline, it is difficult to know when will condo prices hit the bottom. If you feel comfortable buying, you can then commit yourself to look for the condo you like. Up until the spring of 2008, the demand for Vancouver condos remained strong. Condos in downtown Vancouver continued making price gains through 2007 and the first 3 months of 2008. Real estate market ran out of steam and sales took a dive in April, 2008. Within a year condo prices dropped around 18%, and condos sale was down as much as 40% compared to the previous year. Should You Buy Now?For many buyers, the attr...
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The following is a study of Vancouver real estate, specifically Coal Harbour,  and what sold in condos during the month of September, between $1 and $10 million. In September 2008 there have been 4 sales in the price range. A front suite on West Cordova sold for $1300 pr sq. ft.  - 1700 sq.ft. sold just over $2 million. Read the rest of this post
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There's more to Vancouver real estate than condos and houses, billions of dollars are being invested in British Columbia to build new hospitals, as public-private partnerships. In Vancouver, the VGH has been undergoing a complete transformation that goes back years and will continue some years into the future. The new Jimmy Pattison pavilion will replace the Centennial pavilion which has been renovated for other uses. The Gordon and Leslie Diamond Ambulatory Care facility and some dozen other projects are either done, ongoing or planned on the VGH grounds. Total cost is thought to be around $1 billion. Read the rest of this post
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By maggie chandler
(chandler realty)
Take a look at what's happening in the real estate market across Canada - some up, some down, some flat: Vancouver - prices down Edmonton -  prices down Calgary - prices down Saskatoon - prices up Winnipeg - prices up Toronto- prices flat Montreal - prices up Read the rest of this post
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