This 752 sq ft loft has 9' ceilings, exposed concrete walls, heated floors, and a huge south facing covered balcony. This loft is like a blank canvas for you to create a cool, modern loft. Priced well at $475,000. Check it out...
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Looking for a blank canvas loft to create your own space?This 752 sq ft loft has 9' ceilings, exposed concrete walls, heated floors, and a huge south facing covered balcony. This loft is like a blank canvas for you to create a cool, modern loft. Priced well at $475,000. Check it out... Congrats to the Seller of 502-930 Cambie! Sold!Another happy Seller! Sold for a great price! Real Estate Board Stats for February 2012Generally speaking we are seeing a more balanced market for Vancouver East and West. Sales are up significantly over last month, but down a little from Feb 2011. The number of new listings are up over last February, and generally speaking we saw a slight increase in price. Click here to view the detailed stats... Did you check out the pre-fab house at the Home & Garden Show?Karoleena Homes brought a pre-fab house with them to the Home & Garden Show for visitors to walk through and bid on. Yes, bid on it too! They were auctioning off the Kitsilano Home at the Show and installing it on a view lot in Naramata. Fantastic idea, I'd say! The house itself was gorgeous...modern, big windows, massive sliding doors, high ceilings....check, check, check! And have you been to Naramata? It's one of the prettiest places in the world. Did I mention the winery tours? Check out this house and learn more about pre-fab homes... February 2012 NewsletterCheck out my February 2012 Newsletter.
Drop in & say hi!I'll be doing at open house today and tomorrow from 2-4pm at this fabulous penthouse, P6-2410 Cornwall. Drop in to see the incredible views and private roof deck! Sold!Congrats to the lucky buyer of this fabulous house on the Westside! HST/PST Transitional Rules for HousingThe HST/PST transitional rules have finally been announced. Click here to read the new ruling, and call me if you need some clarification on your own situation. Fabulous roof deck pool in this new project!This cool new development in the hip and trendy Main St. area features a fabulous roof top pool, with heated outdoor Wi-Fi stations. Very California, I'd say! LIDO is expected to complete in the spring of 2014, and since the developer is the reliable and on-time, BOSA, you will probably be spending 2014 lounging pool side. Call me for more details. Feds announce low rates until 2014The Feds announced they don't expect rates to change until 2014. Just a couple of days after this announcement however, RBC announced a rate increase is happening today, so if you are buyer and don't have your rate hold in place yet, call your mortgage broker asap. The fixed rates are so low right now, perhaps we'll see a little movement with these rates, but not much movement with the prime rate. Guess we'll have to wait and see... BOC rate remains unchangedThe Bank of Canada rate remains unchanged at 1 percent. Great news for those on a variable rate, or those buyers still wanting to get in to the market. Read more... January 2012 Newsletter
Paste your HTML in here and click Convert It! BCREA 4th quarter forecast is 3.9 increase in sales for 2012"Low mortgage interest rates are expected to persist through 2012 keeping affordability on an even keel." says Cameron Muir, BCREA Chief Economist. Click here to read more. October 2011 Stats by videoPrefer to watch the stats update via video instead of reading it? Go to my YouTube Channel and click on Market Updates on the right side of the page. November 2011 Monthly Newsletter with Market UpdateGreater Vancouver Real Estate Board Stats for October 2011; What's happening with the market right now?; RE/MAX #1; Grey Cup Festivities for 2011
Lack of HST transitional rules, not a bubble, affecting real estateThe people in the know are saying there is no bubble, it's the lack of the transitional rules for taking out the HST that is causing some buyers to sit on the sidelines.
There is no real estate bubble in Vancouver but, according to a panel of speakers at a recent Board of Trade event, a lack of clear transitional rules leading up to the return of the provincial sales tax is having a negative effect on the real estate industry.
That was the message delivered by the panel of three real estate industry experts, including the Board’ President-Elect Eugen Klein, to a packed house at the Board of Trade’s Bubble Trouble event on October 21 at the Fairmont Hotel in Vancouver.
Other panelists included Ward McAllister, president of Ledingham McAllister Properties, and Richard Wozny, of Site Economics Ltd. The panel was moderated by David Podmore, CEO of Concert Properties Ltd. Each of the speakers presented information that helped to set the overall picture of what they consider to be a solid overall market that is not in the midst of a bubble. But they directed their strongest comments towards the impact that the lack of transitional rules is having on the market right now.
“Potential buyers, especially the under-25 group, are sitting on the sidelines,” said Klein. “It’s also affecting home renovation projects with HST on them because consumers don’t know what to do.” McAllister was the most vocal in his criticisms, noting that he and his company have been “literally begging” the provincial government for transitional rules since the results of the referendum to repeal the HST were announced.
“What is amazing to me is that it took the government three days to bring this new tax in and now they are telling us it is going to take up to 18 months to unravel,” said McAllister. “This is really hurting us in the new home business just because of the uncertainty.” Both Klein and McAllister noted that they are seeing developers taking on a portion, or even all, of the HST on their product to try and remove that uncertainty for potential buyers. Other information provided by the speakers suggested that the Metro Vancouver real estate market is healthy and stable.
Wozny forecasted that low interest rates will hold steady into the foreseeable future, which will translate into continuing sales, and McAllister highlighted immigration data that shows that approximately 52,700 immigrants will move to British Columbia in 2011. Of that total, some 42,000 will move into the Metro Vancouver area, meaning that the need for new housing will remain strong.
Klein pointed to steady residential sales driven by high-end property demand in Richmond, West Vancouver and the Westside of Vancouver. He also updated major commercial projects that will add approximately five million square feet of retail space and 1.5 million square feet of office space to Metro Vancouver by 2015.
“Putting the residential and commercial real estate sectors in perspective, the Lower Mainland remains a very desirable place to live and work,” said Klein.
Great news for those on a variable rateThe Bank of Canada has announced they are leaving the rate unchanged at 1 percent. Click here to read the full article. Reserve Fund Study vs. Depreciation ReportIf you own a condo, you may be starting to hear about the upcoming changes to the Strata Property Act for mandatory reports in the near future. The goal with these reports is to offer owners, and those buyers looking to own, a detailed report on length of life of the buildings and those items comprising the building, with dollar values for replacement associated with those items. The idea being that there can be more accurate budgeting for the strata corporation, decreased emergency repairs/replacements, and decreased levies due to property maintenance. Read this article by the Director of the Condominium Home Owners' Association. August 2011 Greater Vancouver Real Estate StatsHome sales trend toward buyers' market over the summer. August marked the third consecutive month that home sales activity was below the 10 year average for the month. And listing activity has exceeded the 10 year norm every month since the beginning of the year. Detailed stats for August 2011 available here. September 2011 Greater Vancouver Real Estate Board StatsHome listings continue to rise in the Greater Vancouver housing market. Listings are up, sales were down over the summer, and now we are in buyers' market. With interest rates at an all time low, this is the time to get into the market if you haven't already done so. Click to view the September 2011 stats
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