Vancouver, BC Real Estate News

By maggie chandler
(chandler realty)
The Ritz at 1211 Melville Street, Vancouver will be opening next week, as Coal Harbour's newest condo building. As Vancouver's real estate market continues to grow, Canada Post shows there are now over 4000 condos in Coal Harbour. Developer: Pinnacle International. The Ritz Website Architect: Hancock Bruckner Eng and Wright Architects Features: security card access to main extrance and underground parking and recreation areas, air conditioned, overheigh 9 ft ceilings in the majority of living areas, custom design electric fireplace. Read the rest of this post
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By Kye Grace
(Sutton Group - West Coast Realty)
    Is the economy of the US about to collapse due to the real estate crisis? These are scary times as I watch not just as a Realtor but as Canadian will the US bailout happen? How will the bailout affect the US economy and real estate? How will it affect Canada and real estate here?
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By James Wong Vancouver Richmond, Chinese Realtor, Vancouver > Richmond
Housing Marlet Update From England "The fall in house prices has accelerated in England and Wales, according to the Land Registry". Its latest report shows that prices fell by 1.9% in August, taking the annual rate of price deflation to 4.6%. The figures mean that the average property now costs £174,493; £8,320 less than a year ago, with £3,871 of that drop occurring last month. Prices in London fell by 3.2%, the first monthly fall since the Registry started publishing its figures in 2000. Read the full report here ... Asset Price Deflation? Canada had been experiencing a low down in residential real estate sales for the past 5 months, with many provinces registering price declines year-over-year. This trend on real estate price decline that started in the USA, has spread over to Austra...
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By Kye Grace
(Sutton Group - West Coast Realty)
I was asked "Why is it considered a bad thing when real estate prices go down? Isn't it just a bad thing for sellers?". Yes and no. In isolation the answer is yes. In the context of the overall economy the answer is no. Watch the video to see the reasons why.
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The Canadian banks have tightened their requirements for people wishing to buy Vancouver real estate. Many people who have below a 620 beacon score, may have challenges finding mortgage financing in the near future. After Oct 15, at least one applicant on a high ratio mortgage application MUST have a minimum 620 beacon score at all insured lenders. Below is a basic overview of important factors that make up a credit score, and some tips on keeping a good score or improving a low one. The credit score is not a summary of the applicant's credit as of today. It is actually a prediction of the applicant's likelihood to default on a debt over the next two years. The lower the score, the more likely that client is to default in the future, and therefore, the applicant is considered a higher r...
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By Mike Stewart Vancouver
(Century 21 In Town Realty)
Welcome home to the stylish Azura II by Concord Pacific! This well laid out 1 bedroom plus den has DIRECT WATER VIEWS of False Creek. Absolutely immaculate and in original condition, this suite is ready for the pickiest buyers! An open plan kitchen, dining, and living room area is great for entertaining. The kitchen features a gas stove, granite counter tops, and stainless steel appliances. Azura II features a well equipped gym, large indoor pool, sauna/hot tub/steam room, squash courts, and full time concierge. Comes with 1 parking and 1 locker. Buyer to verify measurements & dimensions if important. Call now to book a private showing or to confirm the  Open Houses. 1206 - 1495 Richards Street, False Creek North, Vancouver West By Mike StewartView in HD  Download 480p Version  Visit Mi...
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Vancouver real estate market Downtown in August saw sales up, listings up, days on the market up and average sale price up slightly. There is an 11 month supply of condos in Vancouver's Downtown. Listings 782. Up from 745 in July 39 listings under $300,000. 206 between $300,000 and $400,000. 220 between $400,000 and $500,000. 213 between $500K and $700K. 64 listings between $700K and $1 million and 46 listings over $1 million. 2008 Listings Jan 420 , Feb 457  ,Mar 529 , Apr 630, May 669 , June 740, July 745, Aug 782 Sales 69. Up from 65 in July Read the rest of this post
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By Kye Grace
(Sutton Group - West Coast Realty)
Update - A viewer pointed out that to complete search as suggested in the video is possible to do. I had not intended to include 'in Kits' but it 'slipped out' as I had been dealing with the topic of Kits properties earlier in the day. My apologies for this, however my stance on the usability of MLS.ca has not changed. Am I the only one that thinks http://mls.ca does not provide the service that a national real estate website should? As a Realtor I find it frusterating knowing that this is the best that my industry can do to provide an online resource. I've tried using it and it just doesn't cut it. Try http://zillow.com or http://trulia.com and search for and select a property and see what you can discover about the property, recent sales, price trends, local ammeneties etc. You will ...
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By maggie chandler
(chandler realty)
Vancouver's 27th International Film Festival plays from September 25th - October 10th. Critically acclaimed as "an unspoiled celebration of world cinema", the festival brings you films from 50 countries and is among the five largest film festivals in North America, screeing 350 films, most of them twice, on to screens over a two week period. Read the rest of this post
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Vancouver's False Creek North saw listings up from 237 in July to 256 in August and sales increased from 9 to 14.  Days on the market dropped from 56 to 51 and the average selling price increased from $550,000 to $799,000. There is an 18 month average supply of condos in this waterfront neighbourhood. Listings - 256. 41 are listed under $500,000. 145 False Creek North listings between $500,000 and $1 million. 47 listed between $1M and $2M. 19 listed between $2 and $4 million  and 2 listings over $4 million. Most expensive False Creek North condo is the Penthouse at 1000 Beach, now down to $14,800,000 from $18,200,000. Least expensive $334,500 for a 530 sq-ft l bedroom. Too many list price reductions to count! Listings  Feb 153, Mar 174, May 202, Jun 210,  Jul 237, Aug 256, Read the rest...
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By maggie chandler
(chandler realty)
VANCOUVER WEST  STATISTICS for August 2008 are not as gloomy as the media is reporting. Yes, sales are down (but after the last five years this is to be expected, as the market catches its breath), but so are listings down  and the average price is flat for condos and up for townhomes and homes. Average days on market is up. Rather than lump Greater Vancouver stats into one package, check the individual municipality.                                        Aug2008     Aug2007    Jul2008   YTD2008   YTD2007    Units Sold      317             746                437          4088              6004 Median Selling PriceCondos:   $425,000    $438,000   $425,000     $443,000    $412,000 Attached: $767,000    $713,000    $725,000     $725,000    $668,000 Det'd:    $1,495,500 $1,480,000 $1,328,00...
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By maggie chandler
(chandler realty)
Vancouver's Kitsilano condo neighbourhood saw sales for the month of August drop from 38 to 25  and listings up slightly from 159 to 165. Average price for sold condos dropped from $439,663 in July to $416,240.  Days on the market dropped from 43 to 37. Listings 166(159 in July). Of those 44 had price reductions (vs.46 in July). 94 are listed under $500,000 and 65 between $500,000 and $1 million and 6 over $1 million. Cheapest Kitsilano studio $229,000, cheapest 2 bedroom $449,000 for 850 sq.ft. Sales 25 - 8 had list prices reduced (vs. 14 in July). 22 Kitsilano condos sold under $500,000 and 3 between $500,000 and $850,000. There is a 4.2 month supply of condos under $500,000 and  a 21.6 month supply of condos over $500,000 and none selling over $1 million. Least expensive Kitsilano sa...
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By maggie chandler
(chandler realty)
Vancouver's Coal Harbour statistics for August show listings down to 212 from 220 in July.  Sales flat at 12. Days on market up to 83, from 73 in July and average selling price up substantially from $1,379,091 to $1,569,772, more high end than low end condos selling. Listings - 212 45 listed under $500,000.  74 listed between $500,000 and $1 million.  64 listed between $1 and $2 million. 20 listed between $2 and $4 million. 3 listed between $4 and $5 million and 9 listed over $5 million. 2008 Listings  - Jan 128,Feb 149, Mar 179, Apr 176, May 175, June 192, July 220, Aug 212 Read the rest of this post
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By maggie chandler
(chandler realty)
The Vancouver property graphs for August 2008 show vancouver houses appreciated 1.4% over the last year. Townhomes appreciated 2.5% and condos depreciated 0.l% Total number of listings for Vancouver (west side) year to date are 6,556 for condos, versus 5,541 in 2007. The sales to listing ratio is 40%, versus 73% in 2007. The new listings for July 2008 were 848, versus 566 in August 2008 and 541 in August 2007. Year to date sales for condos are 2,824 versus 4,334 in 2007. August saw 234 sales versus 301 in July and 501 in August 2007. Read the rest of this post
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By maggie chandler
(chandler realty)
Vancouver's West End market saw listings in August up a tad from 235 in July to 246 in August. Sales were flat(25 vs 25 in July) The days on the market for condos that sold increased from 51 to 57.  The average selling price dropped from $496,935 to $386,344. Very much a bottom end market. Listings - 246 - there is currently a 9.8 month supply of condos in Vancouver's West End. The least expensive is $139,000 which is a studio at 1250 Burnaby and is a foreclosure. 90 of them have had a list price reduction. 3 are listed under $200,000. 30 condos are listed under $300,000, including a 630 sq.ft. condo at 1855 Nelson, west of Denman. 77 listed between $300 & $400K.  50 listed between $400 & $500K. 51 listings between $500 & $800K. 16 listings between $800K and $1 million and 28 over $1 mi...
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By Alphonse J. Quenneville
(Royal LePage Northshore)
Canada mirrors the U.S. in that its costliest markets are primarily situated on the West Coast. Vancouver, British Columbia, tops the Canadian list, with comparable four-bedroom homes averaging $1,257,000 U.S. dollars. The most affordable studied market in Canada is Charlottetown, Prince Edward Island ($157,000). The price difference between Vancouver and Charlottetown is a stunning $1,100,000.
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By Kye Grace
(Sutton Group - West Coast Realty)
Ever avoided calling a phone number because you had no interest in speaking to a sales person? I use a solution that allows the buyer and seller to be accommodated without anyone having to speak to the Realtor until they know the property is truly of interest. The alternative, if they don't call the sign, we hope they follow up on MLS.ca when they get home. Why take the chance? I apologize for the audio, I am using a new camera and it may take me a bit to get the audio sorted. I felt it was better to get something up rather than nothing at all today. I vow to solve this quickly.
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By Kye Grace
(Sutton Group - West Coast Realty)
Act Fast? I doubt it...your listing has been on the market for a 120 days. What is with Realtors who cannot, will not or just plain do not update the property descriptions in their MLS listings. I love coming across a listing that says 'Act Fast', 'Better Hurry', 'Seller Motivated' and the property has been on the market for more than 30 days and often into the 100s of days on the market. To me it says two things about the Realtor, one their evaluation of the price or desirability of the property was innaccurate or they are simply throwing a weak sales pitch at consumers. An attempt at fear, if you don't move quick you won't get this property. Oh no the consumer may have to buy one of the other properties that make up the record number of listings available. I consider these two areas ...
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By D'Arcy Harris
(The Harris Group - Real Estate Advisors)
The Harris Real Estate Group Weekly Update The Harris Real Estate Group  SUTTON GROUP WESTCOAST REALTY September 5, 2008 This message is going out to 3,151  real estate investors... Welcome to 48 new subscribers!  Your Real Estate Listings: Houses and Condo forclosures Lofts Other Listings   Featured Listings: Downtown Loft Living: 16 ft. ceilings, new kitchen and bath...   1/2 Duplex Luxury : Perfect for empty nesters and downsizers. In one of the best areas, over 2600 sq.ft. Luxury, style and value.    Vancouver Townhouse Walk to Granville Island! Hardwood and new kitchen...   Central Lonsdale 2bd/2ba Great views of downtown Vancouver and Stanley Park...   View all our Listings   Our Services: VancouverRealEstateInfo.ca   What's My Home Worth? What's My Loft Worth? Become a VIP Buyer...
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