Tuesday, February 09, 2010
Vancouver home sales still expected to increase
According to the British Columbia Real Estate Associations forecast, residential sales are expected to increase six per cent from 85,028 units in 2009 to 90,100 units in 2010 before retreating three per cent in 2011.
Higher home prices and rising mortgage interest rates will provide a constraint on home sales next year.
Relatively slow economic growth, reduced pent-up demand and rising carrying costs are expected to keep home sales from continuing at their frenetic pace.
Although the average home price is expected to increase five per cent in 2010, they are only expected to increase by one per cent in 2011.
Interest rates are expected to increase in the third quarter of this year with will limit price appreciation next year.
Across the nation, Canada's residential real estate market is forecast to remain unusually strong through the first half of 2010 as economic conditions across the country improve and the stimulus impact of low interest rates continues to stoke the demand.
As the confidence in the economic recovery builds in early 2010, increases in real estate levels and over all market activity are expected to continue. However the erosion of affordability driven by these higher house prices and the expected late year upward movement of interest rates are expected to bring the market back into balance in the second half of the year, when Vancouver real estate prices are expected to moderate.
Improving supply as teh year unfolds and easing demand as the cost of home ownership in the Vancouver Real Estate market rises should moderate home price increases in the second half of 2010.
For more information on the Vancouver Real Estate market please contact:
Peter Raab
Vancouver Real Estate Expert
Labels: Vancouver Real Estate, Vancouver Real Estate market forecast, Vancouver Real estate market update
Wednesday, August 26, 2009
Two bedroom condo for sale in Mount Pleasant, Vancouver
This two bedroom condo for sale in Mount Pleasant,
Vancouver East must be seen to be appreciated. Beautifully renovated kitchen that is open to the living and dining room.
South east exposure gives this condo lots of natural light with a large wrap around balcony off the living room and an additional balcony off the master bedroom.
Walking distance to Main Street, Olympic station for the Canada Line, the Vancouver Olympic Village and minutes drive to
downtown Vancouver, Yaletown, the West End and
Kitsilano.
201 440 East 5th Ave.
Mount Pleasant, Vancouver East
2 bedrooms with 2 bathrooms
1097 Square feet
Pets allowed, one parking stall and one storage locker included
Open house Saturday August 29th from 3:00-4:30 and Sunday August 30th from 2:30-4:00
For more information on Vancouver Real Estate or condos for sale in Mount Pleasant contact
Peter Raab
Vancouver Real Estate Agent
condo-for-sale-mount-pleasant-vancouver.jpg
Labels: condos for sale mount pleasant, mt pleasant condos, open houses in vancouver, Vancouver Real Estate, vancouver real estate agent
Wednesday, July 08, 2009
Market conditions drive strong June Vancouver Real Estate sales
VANCOUVER, B.C. July 3, 2009 The combination of low interest rates and more affordable pricing helped propel Greater Vancouver home sale numbers to the second all-time highest total for the month of June.
The Real Estate Board of Greater Vancouver (REBGV) reports that sales of detached, attached and apartment properties increased 75.6 per cent in June 2009 to 4,259, from the 2,425 sales recorded in June 2008. The figure is just short of the record-breaking 4,333 sales which occurred in June 2005.
New listings for detached, attached and apartment properties declined 17.9 per cent to 5,372 in June 2009 compared to June 2008, when 6,546 new units were listed. However, new listings increased 13.5 per cent from May to June of this year. Total active listings in Greater Vancouver currently sit at 13,252, down 27 per cent from June 2008 and 2.9 per cent below the active listings count at the end of May 2009.
"Price reductions and low interest rates have created an improvement in affordability, which is causing the number of sales to rise to levels comparable to 2003 to 2007," Scott Russell, REBGV president said.
"Many people who were reluctant to purchase a home last fall and earlier this year are returning to the market because they see conditions that appeal to their personal and financial needs," Russell said. "However, the current marketplace is such that buyers are more inclined to walk if they don't like the terms of an offer."
Residential benchmark prices, as calculated by the MLSLink Housing Price Index, declined 8.2 per cent to $518,855 in June 2009 compared to June 2008.
The number of sales of detached properties increased 81.6 per cent to 1,667 from the 918 detached sales recorded during the same period in 2008. The benchmark price for detached properties declined 8.4 per cent to $701,384 in June 2009 compared to June 2008.
The number of sales of apartment properties in June 2009 increased 69.3 per cent to 1,790, compared to 1,057 sales in June 2008. The benchmark price of an apartment property declined 8.2 per cent from June 2008 to $356,880.
The number of attached property sales in June 2009 increased 78.2 per cent to 802, compared with the 450 sales in June 2008. The benchmark price of an attached unit declined 7.3 per cent between June 2009 and 2008 to $441,620.
Bright spots in Greater Vancouver in June 2009 compared to June 2008:
Detached:
Burnaby up 109.7 per cent (151 units sold from 72)
Coquitlam up 122.2 per cent (160 units sold from 72)
Delta - South up 107.7 per cent (56 units sold from 27)
Maple Ridge/Pitt Meadows up 54.3 per cent (162 units sold from 105)
New Westminster up 104.8 per cent (43 units sold from 21)
North Vancouver up 96.2 per cent (153 units sold from 78)
Port Moody/ Belcarra up 120 per cent (33 units sold from 15)
Richmond up 77.4 per cent (204 units sold from 115)
Squamish up 107.7 per cent (27 units sold from 13)
Sunshine Coast up 33.9 per cent (75 units sold from 56)
Vancouver East up 71.2 per cent (238 units sold from 139)
Vancouver West up 85.2 per cent (200 units sold from 108)
West Vancouver/Howe Sound up 117.8 per cent (98 units sold from 45)
Attached:
Burnaby up 81.8 per cent (140 units sold from 77)
Coquitlam up 80 per cent (54 units sold from 30)
Maple Ridge/Pitt Meadows up 48.6 per cent (55 units sold from 37)
North Vancouver up 121.2 per cent (73 units sold from 33)
Port Coquitlam up 82.6 per cent (42 units sold from 23)
Port Moody/ Belcarra up 77.3 per cent (39 units sold from 22)
Richmond up 84.5 per cent (155 units sold from 84)
Vancouver East up 118.5 per cent (59 units sold from 27)
Vancouver West up 121.8 per cent (122 units sold from 55)
Apartments:
Burnaby up 60.4 per cent (239 units sold from 149)
Coquitlam up 93.9 per cent (95 units sold from 49)
New Westminster up 57.1 per cent (121 units sold from 77)
North Vancouver up 71.4 per cent (120 units sold from 70)
Port Coquitlam up 58.1 per cent (49 units sold from 31)
Port Moody/Belcarra up 128.6 per cent (48 units sold from 21)
Richmond up 54.1 per cent (225 units sold from 146)
Vancouver East up 58.7 per cent (165 units sold from 104)
Vancouver West up 87.2 per cent (627 units sold from 335)
West Vancouver/Howe Sound up 155.6 per cent (23 units sold from 9)
Labels: real estate vancouver market update, Vancouver Real Estate, Vancouver Real estate market update
Tuesday, June 30, 2009
Does your home have curb appeal?
We've all heard the old adage "you never get a second chance to make a first impression." This is especially true when it comes to your home. If you're thinking about selling, there's no more important audience to attract than potential buyers, who are highly influenced by how a home looks the first time they get a glimpse of it. Even if your goal is just to impress your neighbors and guests you should pay close attention to the first impression your home in making. Here are a few simple tips and techniques that can positively affect your home's "curb appeal" and perhaps even its value.
Clean Up and Repair:
The most useful chores to tackle first are basic maintenance and repairs before moving onto larger projects. Clean windows and siding, make sure outdoor lights are working, stow away yard tools and equipment, and clean up dead branches and leaves. Make sure that fences, walkways, and the driveway are in good repair too - a home that looks well taken care of is always more attractive to buyers.
Landscaping:
A full landscape overhaul may not be necessary, but your yard, especially in the front, should look neat and well maintained. Trim any overgrown shrubs, remove weeds, and tidy up planting areas. If the season is right, add some colorful flowering plants to brighten up areas around walkways and the front entrance. It's an easy and inexpensive way to create an instantly welcoming feeling.
The Entrance:
The front door is another key element of that all-important first impression, and should reflect the style of the home. If replacement is cost-prohibitive, consider reviving a tired, faded door with a fresh coat of paint in a great accent color and swapping out the hardware.
Paint It New:
Brighten up the exterior of your home with a new paint job. Driving around your neighborhood may inspire some ideas of what may be flattering to your home. If you're planning to sell your home, it's usually best to go with colors that have widespread appeal so that potential buyers won't be put off by unusual colors or combinations. Painting the exterior can add significantly to the home's value.
Labels: curb appeal, Preparing your home for sale in Vancouver Real Estate, Selling your home, Vancouver Real Estate
Tuesday, May 19, 2009
Vancouver real estate prices will drop less than expected
A recent surge in real estate sales has caused the Canadian Real Estate Association to sharply revise its expectations for price drops in British Columbia.
CREA, in its forecast released on Thursday, estimated that B.C.'s average house price will drop less than seven per cent over 2009, more than 3 percentage points less than the 10.6 per cent drop forecast in February.
CREA's forecast that B.C.'s average price will drop to $423,300, instead of the $406,300 average it forecast earlier.
Going forward to 2010, CREA is now predicting that B.C. prices will start edging up again by almost two per cent compared with a 2010 drop of 0.6 per cent forecasted in February.
B.C. sales rose in April from the previous month, the B.C. Real Estate Association said Thursday in a news release, as buyers were drawn back into the market by lower prices and rock-bottom mortgage rates. And the inventory of unsold homes across the province dropped to the lowest level in 12 months, the association said, edging the ratio of sales to active listings close to the zone housing economists consider balanced between buyers and sellers.
"An increase in consumer demand combined with fewer homes for sale has trended the market near balanced conditions," Cameron Muir, chief economist for the B.C. Real Estate Association said in an interview.
April was the third straight month that sales were higher than the previous month.
Peter Raab
Vancouver Real Estate Agent
Labels: real estate vancouver market update, Vancouver market update, Vancouver Real Estate, vancouver real estate agent, Vancouver Real estate market update
Monday, May 04, 2009
Strong Buyer activity brings stability to Vancouver's housing market
The
Vancouver Real Estate Market has entered a balanced state with more buyers and fewer homes for sale in recent months, report The Real Estate Board of Greater Vancouver.
For the sixth consecutive month, new listings for attached and detached homes declined in Greater Vancouver, down 33.7 per cent in April 2009 compared to April 2008. The total number of property listings remains unchanged to the same period in 2008.
The
Real Estate board of Greater Vancouver reports that property sales in Greater Vancouver totaled 2,963 in April 2009 which is only an 8 per cent decline compared to April 2008, at the height of the Vancouver Real Estate Market.
Scott Russell, REBGV president says, "The bridge between buyer demand and housing supply is continuing to narrow, which, as we see, helps bring stability to home prices," he said. "The trends in our housing market over the last couple of months offer a much more comfortable, historically normal set of conditions."
The benchmark price of a detached home in Greater Vancouver declined 12% from April 2008 to $675,268 and the benchmark price of an apartment property declined 12.6% from April 2008 to $431,759.
Peter Raab
Vancouver Real Estate Agent
Labels: Real Estate update Vancouver, Vancouver Real Estate, Vancouver Real estate market update
Monday, April 27, 2009
Done Deal: condo sold in the West End - The Globe and Mail -
1355 Harwood., Unit 516
Asking price: $429,000
Selling price: $436,900
Days on market: 8
This condo was recently sold by Peter Raab, Vancouver real Estate Agent after only one weekend on the public market.
This is a clear sign that the market has picked up and we are in a busy spring market where 'hot' properties are selling in and around asking price after one weekend on the public market.
The one bedroom condo in the Westend has a huge south facing patio, a renovated kitchen and open concept living/dining room.
For more information, see the article in The Globe and Mail
Real Estate Agent: Peter Raab, Royal LePage Westside
Vancouver, B.C., Canada
Labels: condos for sale in the West End, condos sold in the Westend, Vancouver Real Estate, Westend real estate agents
Tuesday, April 21, 2009
Penthouse condo sold in the Westend
I just sold a one bedroom penthouse condo in the
Westend
516 1355 Harwood Street, Westend, Downtown Vancouver
1 bedroom, 1 bathroom
739 square feet
Sold for 101% of the asking price in one weekend
The condo in the Westend is only one block from English Beach, in the heart of the Westend. Walking distance to Stanley Park, Yaletown, all the funky shops on Denman Street and Robson Street.
If you would like further information on condos for sale in the Westend contact:
Peter Raab
Vancouver Real Estate Expert
Westend Real Estate Agent
Labels: condos for sale downtown vancouver, condos for sale in the West End, penthouse for sale Westend, Vancouver Real Estate, Vancouver real estate for sale, Westend real estate agents
Home ownership is now more affordable for Canadians
The Royal Bank of Canada said the cost of owning a home went down in the last three months of 2008, after rising since 2004.
Mortgage rates are consuming less income of Canadian households thanks to the low interest rates and decrease in housing prices. This trend is expected to continue in the near future, a new survey from RBC suggests.
The study showed that Vancouver still remained the least affordable city, where is took 70.3 per cent of pre-tax faminly income to own a home, compared to 51.3 per cent in Toronto, 42.7 per cent in Calgary, 42.7 per cent in Ottawa and 39.4 per cent in Montreal.
RBC economist Robert Hogue said in the first quarter of 2009, house prices have fallen further, as have mortgage rates, which is very good news for homeowners and new buyers looking to purchase their first home.
Hogue believes that going forward, low interest rates will continue to keep the housing market strong.
Click here for more of this article
Peter Raab
Vancouver Real Estate Agent
Kitsilano, downtown Vancouver, Fairview Slopes, False Creek North, Coal Harbour and the Westend.
Labels: real estate vancouver market update, Vancouver market update, Vancouver Real Estate, Vancouver Real estate market update
Yaletown's The Beasley sells out
It looks like the marketing campaign worked for selling the remaining 70 condos for sale in
Yaletown at The Beasley development.
Amacon's plan to pass on construction cost savings to
Yaletown buyers has led to the sellout. The marketing campaign was titled "Pass it on", and was an aggressive marketing initiative led by MAC Marketing Solutions.
With very low prices and historically low interest rates, people recognize that this is a great time to buy a home.
The "Pass it on" campaign was made possible after Amacon spent months negotiating with their contractors and suppliers. When Amacon reviewed the construction costs they could save, they decided to pass on the savings to the pre-sale buyers of The Beasley. The significant savings were offered to new and original purchasers. The brand new Yaletown condos started at $219,900 CAD. For many original home buyers, this decision by Amacon deducted on average $100,000 - $250,000 from their initial purchase price. A 552 square foot one - bedroom originally priced at $449,900 sold for $314,900 and a 930 square foot two-bedroom originally priced at $766,900 sold for $491,900.
For more information on new developments in Yaletown or condos for sale in Yaletown contact:
Peter Raab
Yaletown real estate agent
Vancouver Real Estate
Labels: condos for sale in Yaletown, new condo developments in Vancouver, The Beasley, Vancouver Real Estate, Yaletown real estate agent
Monday, April 13, 2009
Kitsilano Market Update March 2009
Vancouver Real Estate Market Update:
Kitsilano Market Update for March 2009
Kitsilano condos saw sales more than double in February 2009, compared to January 2009. February sae the highest numbers of sales in Kitsilano since July 2008 when the market heading into decline.
The number of new condos for sale in Kitsilano remained flat at 107 from 104 in January and the average sale price for condos in Kitsilano was $417,000.
Average days on market for sold condos in Kitsilano is down to 38 days.
The entry level market is driving real estate in Kitsilano right now with 23 of 28 sales below $500,000.
The condo supply is down from 9 months to 3.8 months which means we are at the bottom of the economic cycle. Expect to see a very active real estate market in Kitsilano in April and through the spring.
Peter Raab
Kitsilano real estate agents
Vancouver real estate agents
Labels: kitsilano real estate agents, Kitsilano real estate market update, Vancouver Real Estate, Vancouver Real estate market update
Friday, April 10, 2009
Open House in Kitsilano - Loft Penthouse -
I will be hosting an open house Saturday April 11th and Sunday April 12th from 2:00-3:30
P6 1827 West 3rd Ave
In
Kitsilano between Burrard and Cypress
2 level, 2 bedroom Penthouse Loft with City and Mountain Views.
Totally renovated with Hardwood floors, new carpet in the bedrooms and loft space, Silestone counter tops in the kitchen and bathroom with an enclosed steam shower.
Peter Raab
Your Kitsilano real estate agent
Labels: Kitsilano real estate, kitsilano real estate agent, Open houses in Kits, Open houses in Kitsilano, open houses vancouver, Vancouver Real Estate
Monday, April 06, 2009
Vancouver Real Estate Market picks up but Vancouver condo developers feeling the pinch
Although the number of
Vancouver real estate sales may have bounced back this spring, they are still not to the level they were in 2008 and neither are the prices. What is clearly up is the number of condominium developers going into receivership.
The pattern has been that the developer runs out of money, the lender goes to court and has a receiver appointed and the receiver finishes the building and get teh best price it can for the units. Other developers seek credit protection, asking the court for time to get their financial houses in order before the lender comes knocking.
Most of the developers got into trouble when credit markets seized up in 2008, says Parry Prentice, senior vice-president at Ernst & Young Inc., which is acting as receiver for the Resort at Copper Point in Invermere.
The Sophia condominium project on east 11th Avenue in Vancouver was pushed into Bankruptcy when cost overruns of $4 million meant the pre-sale prices asked when the units were marketed in 2005 and 2006 wouldn't cover the costs.
When the Bowra Group stepped in, purchasers were given two options, either pay more for their units or get their deposits back. Half chose to stay and the other half chose to go, Bowra said.
Earlier this week, the remaining units went on sale for 25% less than the original asking price meaning you could buy a brand new condo for under $300,000 including GST.
For more information see the article in the Vancouver Sun
Peter Raab
Vancouver Real Estate Agent
Specializing in buying and selling real estate in downtown Vancouver, Kitsilano and Vancouver's Westside.
Labels: Bowra Group, new condo developments in Vancouver, real estate vancouver market update, vancouver condos, Vancouver Real Estate
Thursday, April 02, 2009
Vancouver Real Estate sales jump 53 per cent in March
Vancouver Market Update:
Real estate sales have bounced back in March compared to February, up 53 per cent in Metro Vancouver, 48 per cent in the Fraser Valley and 34 per cent on Vancouver Island.
Moreover, in some areas prices showed signs of recovery as well.
The numbers are still down significantly from last March but are still encouraging, said Paul Penner, president of the Fraser Valley Real Estate Board, where prices have eked up slightly.
Vancouver area sales jumped the most among the boards reporting numbers Thursday, yet volumes were also down about 24 per cent from last March. And benchmark prices were down month over month for detached homes and townhomes, though not for condominiums.
In March the benchmark price for a detached home in Greater Vancouver - which extends from Squamish to South Delta and Pitt Meadows - was $649,342, down from $653,452 in February, and 15 per cent lower than it was in March 2008.
Townhouses were $420,563 in March, compared to $426,268 a month earlier, and 11 per cent cheaper than in 2008.
Condominium prices went from $333,134 in February to $337,099 in March, which was 13.5 per cent lower than a year earlier.
From the Vancouver Sun
Peter Raab
Vancouver Real Estate Agent
Labels: real estate vancouver, real estate vancouver market update, Vancouver Real Estate, Vancouver Real estate market update
Wednesday, March 11, 2009
First time buyers are driving Vancouver's real estate market
As interest rates hit record lows and prices in Vancouver dropping to a more affordable level; first time home buyers are re-emerging into the
Vancouver housing market.
Entry level buyers are now the engine driving home buying in a almost every major centre in Canada.
In the Vancouver real estate market, the most activity as been in condo's selling under the $500,000 mark. This represents first time buyers getting out of the rental market and purchasing their first home.
In April and May we expect a very robust market in Vancouver with buyers in the drivers seat.
For more information on condos for sale in Vancouver and on the real estate market in Vancouver contact:
Peter Raab
Vancouver Real Estate Agent
Labels: real estate downtown Vancouver, vancouver housing market update, Vancouver Real Estate
Wednesday, March 04, 2009
February sales improve, as property listings decrease
Residential housing sales in Greater Vancouver rose 94 per cent in February compared to the month before, with 1,480 sales registered in February compared to 762 sales in January, which was the slowest month for housing sales in 25 years. Over the past 10 years, February sales have typically surpassed January by an average increase of 53 per cent.
At the same time, new MLS listings for residential properties continued to decrease for the fourth month in a row. New listings decreased 25.6 per cent in February compared to the previous year; 20 per cent in January; 8.6 per cent in December; and 10 per cent in November.
"There are terrific opportunities out there right now, but with property listings continuing to decrease, those opportunities may be available only for a brief window of time," said Dave Watt, president of the Real Estate Board of Greater Vancouver (REBGV).
REBGV reports that year-over-year property sales in Greater Vancouver declined 44.7 per cent in February 2009 from the 2,676 sales recorded in February 2008. Year over year, those are the lowest sales figures for February since the mid-1980s.
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"Real Estate Agents are reporting more activity compared to recent months as people begin to see whether their position in the housing market has strengthened as a result of falling interest rates and improved affordability," Watt says. It took, on average, 67 days to sell a home in Greater Vancouver in February, seven days less than last month, but behind the seller's market of last February when the average stood at 33 days.
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Sales of detached properties in February 2009 declined 41 per cent to 587 from the 995 units sold during the same period in 2008. The benchmark price, as calculated by the MLSLink Housing Price Index, for detached properties declined 14.2 per cent from February 2008 to $653,452.
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Sales of apartment properties declined 45.6 per cent last month to 650, compared to the 1,197 sales in February 2008. The benchmark price of an apartment property declined 13.9 per cent from February 2008 to $333,143.
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Attached property sales in February 2009 decreased 49.8 per cent to 243, compared with the 484 sales during the same month in 2008. The benchmark price of an attached unit declined 9.7 per cent between Februarys 2008 and 2009 to $426,268.
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New listings for detached, attached and apartment properties declined 25.6 per cent to 3,916 in February 2009 compared to February 2008, when 5,260 new units were listed.
This is from the Real Estate Board of Greater Vancouver.
Peter Raab
Vancouver Real Estate Agent
Labels: real estate vancouver market update, vancouver housing market update, Vancouver Real Estate, Vancouver Real estate market update
Wednesday, February 18, 2009
Vancouver Homebuyers reap the rewards of Patience
It's a buyer's market right now and first-time homebuyers who resisted the urge to take the plunge and purchase a condo in the Vancouver real estate market when it was hot are now finding that good things come to those who wait.
Softening prices, a larger number of condos and homes to choose from and extremely low interest rates are helping to make home buying more affordable and less stressful for those deciding to purchase their first home in Vancouver.
Many buyers had been watching the market but held back in purchasing because of the soaring prices and lack of affordability.
Now that prices have dropped 15-20%, homes and condos in the Vancouver real estate market are now selling at 2006 prices.
In Kitsilano, you can now purchase a one bedroom condo for between $280,000 to $320,000. These same condo's were selling in the mid to high $300,00 range last year. Downtown Vancouver condos are selling in the low $300,000 mark where the same condo a year ago was selling for approximately $400,000. This has allowed many people who were renting to get in the market.
For more information on house and condo prices in Vancouver contact:
Peter Raab
Vancouver Real Estate Expert
Specializing in buying and selling homes and condo's in Kitsilano, Downtown Vancouver, Mount Pleasant, Fairview Heights and the rest of Vancouver Westside
Labels: first time home buyers, Kitsilano real estate, real estate vancouver, Vancouver market update, Vancouver Real Estate, Vancouver Real estate market update
Wednesday, February 11, 2009
Interest Rates Hit Historic Low
The Bank of Canada has slashed its key interest rate to the lowest level in history; to 1 per cent. The decrease was in line with expectations of economists, who have been calling for action on the pats of the central bank and the federal government.
Shortly after the central bank cut its rate, the big banks, let by The Bank of Montreal and TD Canada Trust also cut their prime lending rates by the same amount to 3 per cent.
The should go a long way in increasing the affordability for purchasing Real Estate in Vancouver.
Peter Raab
Vancouver Real Estate Expert
Vancouver Real Estate Agent
Labels: downtown Vancouver real estate, Interest rates, Vancouver Real Estate, vancouver real estate agent, vancouver real estate expert
$750 Tax Break for First Time Home Buyers
The new federal budget offered a number of initiatives to benefit homebuyers and homeowners.
The budget announced a new First Time Home Buyers Tax Creit of up to $750 to help homebuyers with closing costs such as legal fees and property transfer taxes. The government is also granting a new Home Renovation Tax Credit of up to $1,350 for homeowners who renovate and a new funding program for ecoENERGY retrofits that provides home and properties up to $5,000 for energy improvements.
The federal budget also announced an increase to the Home Buyers' Plan withdrawal limit to $25,000 from $20,000. Eligible couples can now withdrawl up to $50,000.
These measures tabled in the budget will go a long way to addressing local economic uncertainties, consumer confidence and the quality of life in the
Vancouver Real Estate Market.
For more information on tax incentives for purchasing Real Estate in Vancouver contact:
Peter Raab
Vancouver Real Estate Agent
Specializing in buying and selling real estate in downtown Vancouver, Kitsilano and the rest of Vancouver's Westside
Labels: Federal Budget, first time home buyers, Vancouver Real Estate, vancouver real estate agent
Saturday, February 07, 2009
Vancouver Real Estate Market Update
After a very quite past three months in the Vancouver real estate market which saw prices continue to drop and overall activity very low, we are finally seeing things pick up. With interest rates at an all time low, world markets settling and a greater affordability in the Vancouver housing market, people are now snapping up the deals out there.
For Buyers who have been patiently waiting for the right time to get in the market, now is the time. Lock in your interest rate and look for the deals before they're all gone; we're expecting a typical busy spring market with lots of buying and selling.
For Sellers, the same philosophy is true in that you must make your home stand out from the rest. It has to show better, be priced more aggresively and marketed better than the competition. With the abundance of product to choose from, buyers have the luxury to choose from lots of homes for sale.
I am very optimistic about this spring and summer not only in the real estate market in Vancouver but in our economy as a whole; we live in the greatest City in the world which vast resources, the Olympic Games coming up and a diverse work force.
Peter Raab
Vancouver Real Estate Agent
Labels: Real Estate update Vancouver, vancouver housing update, Vancouver Real Estate, Vancouver Real estate market update
Thursday, January 22, 2009
Exclusive living at Marinaside Resort
Enjoy Water, Marina and City Views from your living room in the 2 bedroom plus large Den at Marinaside Resort. Sought after floor plan with open living/dining room with balcony. Open kitchen with gas fireplace,granite counters, insuite laundry, 1 parking and 1 storage locker.
This
Yaletown location is unbeateable; steps from Urban Fare, Provence restaurant and all the shopping and famous restaurants
Yaletown has to offer. This is resort living with 24 hour concierge, indoor pool, hot tub, sauna and exercise centre.
Vitals:
2105 1077 Marinaside Cr.
Located across from the marina in False Creek North, Downtown Vancouver
2 Bedrooms with 2 full bathrooms plus a large den
1001 square feet
Offered at $699,900
For more information on condos for sale in False Creek North, condos for sale in Yaletown or condos for sale in downtown Vancouver, contact:
Peter Raab
Vancouver real estate agent
Specializing in buying and selling condos in downtown Vancouver, Yaletown, False Creek North
Labels: condos for sale downtown vancouver, condos for sale False Creek North, Marinaside resort, Vancouver Real Estate, vancouver real estate agent
Friday, January 09, 2009
Penthouse Loft for Sale in Gastown
Penthouse Loft in prime
Gastown location; steps from Gassy Jack Square and Chill Winston's. This 2 level New York style loft has floor to ceiling west-facing windows with fantastic City and Mountain views. Entertainer's paradise with open concept kitchen/dining and a private rooftop deck overlooking the City. Gas fireplace, two full bathrooms, security system, lots of insuite storage including an external storage locker + 1 parking stall. Main level has extra space to add a second bedroom if you choose.
Vitals:
1 bedroom, 2 full bathrooms
1156 square feet
Offered at $599,900
For more information contact:
Peter Raab
Vancouver Real Estate Agent specializing in selling condo's in downtown Vancouver, Lofts in Gastown, and condo's for sale in Kitsilano.
Labels: concrete lofts Vancouver, Gastown Real Estate, Lofts for sale in Gastown, lofts in Vancouver, Vancouver Real Estate
Condo for Sale in Coal Harbour - Harbour Green Two
Vitals:
2 bedrooms, 3 bathrooms
2410 Square feet on two levels
Located in Coal Harbour, downtown Vancouver on the waterfront
This world class building by ASPEC has only the finest quality finishings including a gourmet kitchen by Snaidero of Italy, Miele & Sub Zero appliances. This unique 2 level corner unit feels like a home with a magnificent staircase leading up to the second floor and towering 17 ft ceilings in the living & dining rooms.
Enjoy views of the North Shore Mountains, the water and city from 4 separate balconies and through the floor to ceiling windows. Stunning bathrooms and your own private, underground 2 car garage with storage. 24 hour concierge, indoor pool, health club, golf room and library.
Offered at $3,120,000
For more information contact:
Peter Raab
Vancouver Real Estate Agent, specializing in selling condos in downtown Vancouver, Coal Harbour and Kitsilano.
Labels: Condo's for sale in Coal Harbour, harbour green two, Two Harbour Green, Vancouver Real Estate
Friday, December 05, 2008
Understanding today's Vancouver real estate Market
In recent months, economists have had the difficult job of trying to calculate the direction the real estate market is likely to take, factoring in things like unemployment rates, population and immigration figures, economic growth, mortgage rates, and that most nebulous of criteria: consumer confidence.
They agree that the decrease in housing sales and prices bears little relation to the economic indicators in BC. What has changed is public perception of our financial security, triggered by the troubled global financial markets.
As realtors, people are asking us to help make sense of the housing market.
Sellers are asking if the market value of their home is decreasing. Buyers want to know if they should wait for further price reductions. Homeowners not in the market to buy or sell want to understand the impact on their equity, which may affect decisions like plans for renovations.
Purchasers are asking about the short term impact - is it a good time to buy, renovate and resell for a profit? And long term impact - is quality real estate now available at lower prices?
First-time buyers want to know how much they need for a down-payment, whether they can afford the monthly mortgage payment, and if they can get financing in these uncertain times.
There are no easy answers. Around the Lower Mainland’s kitchen tables, realtors are helping people assess their individual situations.
Circumstances cause each of us to make decisions despite uncertainties related to global economies and politics. Someone gets a job in another city. A family must consider estate planning for a parent. A young couple wants to start investing in their own home, rather than renting.
Between 2003 and 2008, the HPI benchmark price of a detached home in Greater Vancouver increased nearly 70 per cent to $761,000 from $449,000. Condominiums over the same period increased 82 per cent to $387,000 from $213,000. Left unchecked at this rate, by 2013 the benchmark price of a detached home would top $1.2 million and condos more than $700,000.
Current trends offer moderation to a market where affordability, for much of this decade, was eroding, making home ownership unattainable to an expanding segment of our community.
Since May, residential home prices have declined 12.8 per cent, resulting in an 8.3 per cent year-to-date price reduction for detached, attached and apartment properties across Greater Vancouver.
These moderating home prices should not be confused with the U.S. housing downturn. Since 2005, prices in the U.S. have been edging downward due in large part to imprudent sub-prime lending practices. Mortgages in Canada are tightly regulated and underpinned by a solid banking structure. The World Economic Forum recently identified Canada as having the world's "soundest" banking system.
The local real estate market is not immune to global economic challenges; however, Canada's disciplined lending structure has kept the mortgage landscape steady in these uncertain times.
While the current rate of foreclosures in the U.S. is nearly five per cent, only 0.28 per cent of mortgages in Canada are in arrears, a proportion that is not only low but steady, according to the Canadian Association of Accredited Mortgage Professionals (CAAMP).
Low prices are not the concern as much as the view that prices are falling. Buyers are waiting to see of the real estate market has hit bottom.
Identifying the "bottom" of a market is difficult, given that certain variables must remain constant to attain real savings. For example, interest rates must remain low and that perfect house must remain available at an acceptable price.
From Dave Watt, president of the Real Estate Board of Greater Vancouver
Labels: vancouver housing update, Vancouver market update, Vancouver Real Estate, vancouver real estate agent, vancouver real estate market conditions, Vancouver Real estate market update
Friday, November 14, 2008
Vancouver house prices in today's market.
From the Real Estate Board of Greater Vancouver.
Peter Raab
Vancouver Real Estate Agent
November 14, 2008
Are housing prices trending up or down? The state of home prices in Greater Vancouver is a much discussed topic at the moment. Last month several organizations issued reports examining the current and future direction of home prices in our market.
The BCREA (B.C. Real Estate Association) Fall Housing Forecast recently reported that average home prices for residential properties, meaning detached, townhome and condo units, in Greater Vancouver are expected to increase three per cent this year compared to 2007. On the heels of this release, the Canada Mortgage and Housing Corporation (CMHC) similarly projected that residential housing prices across Greater Vancouver will increase three per cent by the end of 2008 compared to the previous year.
These numbers seemingly conflict with the figures the Board has released in recent months. According to the REBGV statistics release for October, residential home prices, as calculated by the Housing Price Index (HPI), have declined 8.8 per cent between May and October 2008, eliminating price gains witnessed in the first quarter of 2008.
So what accounts for the discrepancy? The prices in the aforementioned BCREA and CMHC forecasts cite averages, perhaps the most commonly referenced housing price measurement. In contrast, the Board uses benchmarks prices (see definitions below) as its primary indicator of home values.
As of Oct. 31, average residential home prices had increased five per cent in Greater Vancouver over the last 12 months to $599,068 from $569,903. Benchmark prices, however, indicate a 3.9 per cent decline to $518,668 from $539,703 over the same period.
Greater Vancouver has experienced unprecedented growth in home values the last five years. Both benchmark and average price data tells this story, though the numbers differ.
Greater Vancouver has experienced unprecedented growth in home values the last five years. Both benchmark and average price data tells this story, though the numbers differ.
Between December 2003 and February 2008, the benchmark price of a detached home in Greater Vancouver increased 69 per cent from to $761,342 from $449,190. The average price of detached homes over the same period registered a 94 per cent increase to $920,644 from $475,087. For condominiums, benchmark prices increased 82 per cent to $387,032 from $213,140, while the average price increased 81 per cent throughout this five-year span to $424,839 from $233,733.
Whether it's a seller's or buyer's market, the Board aims to convey the most accurate and current housing market information to members and the media. Following extensive consultations with economists more than a decade ago, the Board identified benchmark prices, produced by the HPI, as the most accurate measurement of home property values over time.
Similar to the Consumer Price Index that tracks inflation and measures the rate of price change for a basket of goods and services including food, clothing, shelter, and transportation, the HPI measures the change in the price of housing features such as lot size, age of the home and neighbourhood etc. These features become the composite of the typical house in a given area.
Average prices are calculated by dividing the total dollar volume generated from home sales by the number of sales in a given period. Averages, however, can be misleading since the quantity and quality of properties sold in a given area change over time. As a result, average prices can fluctuate considerably, making the housing market appear unstable. The HPI solves this problem by pricing a constant quality and typical property over time.
Whichever measurement is used, regional housing reports only provide a broad outlook. Viewing the housing market at large offers only a snapshot of the collective activity within a region. Prices today are changing by area. Establishing a price depends on the property type and neighbourhood. Ultimately real estate is local and REALTORS offer the expertise that allows clients to identify opportunities that match their local needs.
For more information contact:
Peter Raab
Vancouver Real Estate Agent
Real Estate Vancouver
Labels: real estate vancouver, Vancouver house prices, Vancouver Real Estate, vancouver real estate agent, Vancouver Real estate market update
Tuesday, November 11, 2008
Average home prices expected to drop close to 10% in B.C.
The Canadian Real Estate Association (CREA), released its latest report on Monday predicting B.C. to have the largest drop in real estate prices.
CREA predicted a 7.8 per cent decline in 2009 in the average residential sales price in B.C., compared to 2.1 per cent decrease across Canada.
The association is also forecasting an 11.7 per cent decrease in sales activity in B.C. next year, compared to a 3 per cent decrease in the rest of Canada.
B.C. has some of the most expensive housing markets in the country and experienced some of the largest price increases during the housing boom.
"The B.C. real estate market, and the
Vancouver real estate market has suffered from the world economic turmoil" say Peter Raab,
Vancouver Real Estate Agent. "Consumer confidence is low right now because of everything happening in the world markets. People are nervous about buying because the don't know how much prices will continue to drop".
"There are fewer buyers out there and they are taking their time to shop, so the pricing environment is very competitive. People how unrealistically price their homes are finding them sitting on the market," said Peter Raab.
CREA president Calvin Lindberg said the U.S. market is much different, most notable because the Canadian market does not have the same over supply of homes. "Canadians are definitely concerned by the economic news out of the U.S., and much of that news stems from distress in the U.S. housing market. Canadians should realize that Canada's economy and housing market are in better shape," said Lindberg. "This means the downturn in consumer confidence will pass and when it does, housing demand will rebound, especially when they realize the window of opportunity to buy at reduced prices and at low interest rates will begin to narrow once economic growth shows signs of rebounding next year."
Labels: Vancouver Real Estate, vancouver real estate forecast, Vancouver Real estate market update, vancouver real estate update
Thursday, October 30, 2008
Vancouver Real Estate Market Update October 2008
October 30, 2008 - Report on the
Vancouver Real Estate Market.
Peter Raab
Vancouver Real Estate Agent
"The sky is falling!". This seems to be the theme not only in our global markets but also in the real estate market this fall. I find myself checking the stock market daily now, more out of curiosity to see if we've dropped another few hundred points of if we've gained a few hundred points. Our markets have indeed been like a roller coaster, this has made many people nervous and made many potential buyers step away from purchasing for the moment. On a whole prices have dropped between 10-15% in the past 6 months with signs of further decreases on the way.
Through out the year we have seen, month over month, a huge amount of inventory hit the Vancouver real estate market. This coupled with the huge losses in the stock markets, the credit crisis in the U.S and talks of a global recession has seriously eroded consumer confidence in our markets which, in turn has left many sellers scratching their heads wondering what they have to do to sell their property. Many properties have been on the market for upwards of 6 months which was unimaginable in the past 8 years. The reason being is many sellers have refused to adjust their prices accordingly and have been left slightly behind the price curve. Because we have been in a sellers market for so long, sellers have been used to buyers catering to them, the shift in paradigms for many people selling has been slower than the market conditions. In a market like this when there are upwards of 50 other listings that are comparable, agents have to list lower than their competition, market the home better and offer incentives to buyers that other people aren't. There are buyers out there, they are just taking their time and choosing carefully.
Speaking of buyers, I've had many people ask me 'should I purchase now or should I wait?. There are a few answers to this question; for those looking for the 'quick flips' or short term investments; now is not such a good time to buy. However, for those people looking to purchase as their primary residence and with the intentions of living in the home for the next 3-5 years, then yes it is a good time to buy. The reason for this is we have a huge amount of inventory out there that has been sitting for quite a while, many of these people very eager to sell and are willing to negotiate quite a bit in order to sell their property. This means you might be able to purchase a property for 5-10% less than asking price and have the luxury of choosing from wide range of fantastic homes on the market.
So, if we do see property prices drop further, you're already ahead of the price curve and will be less impacted in the long term and with the Olympics coming up you will make money on your investment. It is very, very difficult in the stock market or the housing market to purchase right at the bottom of the curve, they key is to find a solid investment that suites your needs for the next few years.
For more information on the Vancouver real estate market contact:
Peter Raab
Vancouver real estate expert
Labels: real estate vancouver, Vancouver Real Estate, vancouver real estate agent, vancouver real estate forecast, Vancouver Real estate market update
Monday, October 27, 2008
Townhouse for Sale in Kitsilano
In the heart of
Kitsilano, this 2 bedroom, 2 bathroom townhouse is a great buy.
Located at the "Taliesin", which is a very wel maintained complex with lush gardens and water features in the courtyard.
See my
featured listings section for more detailed information on this townhouse in Kitsilano.
Kitsilano is the most sought after location to live in Vancouver, only minutes from downtown Vancouver and walking distance to Kits beach, Kits pool and all the cafes, restaurants and shops on 4th Ave.
Long considered one of the trendiest places in Vancouver, Kitsilano has some of the best restaurants in the City - it is Vancouver at its best. This vibrant neighbourhood has niche boutiques, sports stores, upscale condo's and townhomes, fantastic coffee shops and is home to Capers Market, Market Meats and Seven Sea's.
Kitsilano is bordered English Bay to the North and 16th Ave. to the south with Alma and Burrard bordering west and east.
For more information on Kitsilano, real estate in Kitsilano contact:
Peter Raab
Vancouver Real Estate Agent
Kitsilano resident
Labels: Kitsilano real estate, kitsilano real estate agents, living in kitsilano, townhomes for sale kitsilano, Vancouver Real Estate
Friday, October 03, 2008
Waterfront Living at Marinaside Resort
Just Listed at the Marniaside Resort in False Creek North.
2 bedrooms, 2 bathrooms plus a den.
1001 square feet
Located in Downtown Vancouver, in False Creek North.
Enjoy Water, Marina and City Views from your living room in the 2 bedroom plus large Den at Marinaside Resort. Sought after floor plan with open living/dining room with balcony. Open kitchen with gas fireplace,granite counters, insuite laundry, 1 parking and 1 storage locker.
This Yaletown location is unbeateable; steps from Urban Fare, Provence restaurant and all the shopping and famous restaurants Yaletown has to offer. This is resort living with 24 hour concierge, indoor pool, hot tub, sauna and exercise centre.
Marinaside Cresent runs right next to the Seawall and the Marina between the Cambie bridge and the Granville bridge, this is a location that you can't beat in terms on investing in Vancouver Real Estate!
For more information on investing in Vancouver, condos for sale in False Creek North or on the Vancouver housing market, contact:
Peter Raab
Vancouver Real Estate Expert
Labels: downtown Vancouver real estate, False Creek North, Vancouver Real Estate, Vancouver real estate for sale
Wednesday, August 27, 2008
Open House August 30th for a fantastic condo in Yaletown
We will be hosting an open house this weekend for a fantastic one bedroom condo in
Yaletown.
2106
1188 Richards Street, aka Park Plaza
1 bedroom with 1 bathroom
615 square feet in a rainscreened building with two parking stalls.
This unit is offered at a
$385,000
OPEN HOUSE IS AUGUST 30TH FROM 1:00-3:00pm
Once a former warehouse district, Yaletown is now the hottest place to be in downtown Vancouver with renovated heritage loft spaces and beautiful high rise condos. Yaletown is definitely the trendiest place to live and sits at the southern edge of the down town core. Yaletown stretches along False Creek from Cambie to the Granville street bridge.
The demographic that makes up Yaletown is mostly young professionals and the neighbourhood has often been compared to Soho in New York City. For those who like to be seen in the city, Yaletown is the place to be.
From the chic retail stores to offices filled with high tech companies such as Business Objects/SAP/Crystal Decisions to movie production studio's, high end salons and interior design studio's; Yaletown epitomizes urban cool. Style runs rampant in Yaletown and is home to some of the finest restaurants in Vancouver such as Gold Fish, Blue Water Cafe, Cactus Club, Brown's Social House and Pinky's Steakhouse just to name a few.
The neighbourhood has some rich history as this is where a main railway used to run to carry out all the materials that were refined along the water.
Only sets from Yaletown is the seawall which runs around the entire water front. On a nice sunny day, the seawall is filled with cyclists, rollerbladers, joggers and people just taking a stroll. Yaletown also had some great yoga studio's such as Yaletown Yoga, and West Coast Hot Yoga studio.
For more information on Yaletown or purchasing real estate in Yaletown contact:
Peter Raab
Vancouver Real Estate Agent
Labels: downtown Vancouver real estate, Vancouver Real Estate, Yaletown condos for sale
Friday, August 15, 2008
New Garden Suite for Sale on Commercial Drive
This upcoming
Saturday August 16th and Sunday August 17th, I will be hosting the first open houses for 101 - 1723 Frances Street.
This two bedroom, one bathroom is a garden lovers delight with a gigantic wrap around patio landscaped with plants and raised beds to grown your own vegetables. This home faces West onto the quite end of Commercial Drive, only minutes from all the funky shops and restaurants The Drive has to offer.
Have peace of mind owning in the Rain screened building that is pet friendly.
Commercial Drive is one of the most vibrant neighbourhoods in Vancouver with lots of diversity and a fantastic place to live.
Living here you are 5 minutes from
downtown Vancouver, and 10 minutes to the North Shore Mountains to go skiing, snowboarding, hiking, etc.
Some of the restaurants Commercial Drive has to offer is,
Havana Restaurant,
Lime Restaurant, , Red Burrito and
The Reef just to name a few.
For more information on this listing click here or contact:
Peter Raab
Vancouver Real Estate Agent
Labels: Commercial Drive, condo for sale east vancouver, condos for sale commercial drive, real estate vancouver, Vancouver Real Estate
Tuesday, July 29, 2008
Vancouver - City on the Move -
Whether you drive up to Whistler, along Cambie street, walk along
False Creek North or walk along the Seawall next to the future Olympic Village its fascinating to see how much the lower mainland is changing.
Projects such as the Sea to Sky Highway upgrades,
Olympic Village, Canada Line and all the high rises being built, but to really grasp the city's transformation as a while, you have to see it from the air.
There is so much growth happing in Vancouver, the pace and direction of change in Vancouver is interesting and there's something to also be said about an aerial perspective.
All these changes have made a big impact on the
Vancouver real estate market with prices surging from 2001 to 2008.
Finally in 2009 with an influx of inventory, prices have stabalized. For a long time, it was a sellers market, things have no shifted to a buyers market.
For more information on
buying homes or condos in Vancouver contact:
Peter Raab
Vancouver Real Estate Agent Labels: downtown Vancouver real estate, real estate vancouver, Vancouver market update, Vancouver Real Estate
Wednesday, July 09, 2008
Canadian housing starts slipped in June in the Vancouver Real Estate Market
Housing start came in at a 217,800 annualized pace in line, in line with market forecasts for a 216,000 unit rate. May starts were revised higher to 227,700 annualized units from the preliminary report of 221,300. Housing starts activity slowed to average 220,000 from 234,300 units at an annualized rate in Q1 but remained above the 200,000 unit mark signaling that housing starts activity, although slower, remains healthy.
The decrease in the month reflected softening in both the urban singles component (-7.8%) to an annualized 74,600 units and urban multiples component which fell 3% to 114,700. On a geographical basis, four of the five major regions showed declines in the month with double-digit drops in the Atlantic region (-12.4%), Quebec (-11.6%) and the Prairie region (-20%) and a more moderate 9.5% decline in British Columbia. The only region to show an increase was Ontario where starts popped up by 10.8% reflecting a rebound in the multiples component.
Housing starts activity slowed in the second quarter although remaining at historically high levels. The average level in the second quarter was down 6.2% relative to the first quarter average. Single detached homes, usually a more stable indicator of the trend in housing, slipped 7.6%. The slowing in the single-home component is in line with the steady deterioration in housing affordability throughout 2007. Still, the strong labour market and solid wage gains are keeping Canada's housing market on a much firmer path than the US housing market which remains in a deep downturn. On Friday, the labour report is expected to show that the number of employed held steady in June and that the unemployment rate edged up to 6.2%. Despite this slowing in hiring, the labour market remains in good health with 132,000 new jobs created in the first half of the year and the unemployment rate moderately above its recent low of 5.8%. We expect the Bank to hold its policy rate steady at 3% at next week's fixed action date (Tuesday) retaining a focus on the inflation outlook in light of the persistence of high energy prices.
For more information contact:
Peter Raab
Vancouver Real Estate Agent
Labels: real estate vancouver, Vancouver Real Estate, Vancouver Real estate market update, vancouver real estate update
Thursday, June 26, 2008
Detached home in Mount Pleasant
I just sold 555 East 12th Ave in
Mount Pleasant, Vancouver East for 98% of the asking price. Although there is talk of the
Vancouver Real Estate Market cooling down, properties are still selling but not as quick and not always for above asking price.
Over the past 7 years the
Vancouver Real Estate market has experienced exeptional growth in terms of price increases however since January 2008, there has been a huge increase in the amount of new listings hitting the Vancouver Real Estate Market.
This has helped to balance the
Real Estate Market in Vancouver out.
In June we are now seeing a normal amount of new listings hit the market which is matching sales. Sellers do have to price their homes strategically and marketing is key when selling now in the Vancouver Real Estate Market.
This home in
Mount Pleasant has two, one bedroom "mortgage helpers" that generated approximately $1,600 a month in rental income. This helped to offset approximately $300,000 of the mortgage on the house; perfect for a young family looking to purchase their first home in Vancouver.
This home is minutes from
downtown Vancouver, close to the future Olympic Village for the 2010 games, and close to the Skytrain.
For more information on this home contact:
Peter Raab
Vancouver Real Estate Agent Labels: Mount Pleasant, real estate vancouver, Vancouver market update, Vancouver Real Estate, vancouver real estate agent
Friday, June 13, 2008
Vancouver Real Estate, Downtown Vancouver
I just sold 802 1010 Richards,
downtown Vancouver, Vancouver West.
Complex is The Gallery
On Richards and Nelson street in
Downtown Vancouver.
1 bedroom, 1 bathroom with a solarium and views of the
downtown Vancouver Corridor and the North Shore Mountains.
568 square feet
Asking price $375,000
For more information on Vancouver Real Estate contact:
Peter Raab
Vancouver Real Estate Agent Labels: downtown Vancouver real estate, real estate vancouver, Vancouver Real Estate, vancouver real estate agent
Growing supply in Vancouver Real Estate helps stabilize market conditions
The greater
Vancouver housing market continued its re-balance between sales and listings last month. The Real Estate Board reported a 30% decline in property sales in May 2008 to 3,002 from 4,331 sales recorded in May 2007.
New listings increased 20.2 per cent when comparing May 2007 to May 2008. "With more property listings and a decline in the number of sales, prices are not increasing as rapidly, now down to single digits overall, which is good news from an affordability standpoint", said The Real Estate Board president, Dave Watt. "The housing market is at a balanced state, sellers have more competition and buyers have more selection to choose from."
The micro markets that continue to be hot are the one bedroom condo's in
Kitsilano, the detached homes under $1 million on the Westside and detached homes in the $700-$900k range in
Mount Pleasant and Main street area's.
Buyer's looking for one bedroom condo's downtown are having the luxury to choose among many great suites. Prices for a newer one bedroom condo are in the $370-$390 range and holding steady.
Peter Raab
Vancouver Real Estate Agent
Labels: Buying in Vancouver, Vancouver market update, Vancouver Real Estate, vancouver real estate agent, Vancouver Real estate market update
Sunday, June 08, 2008
Townhome in Kinghorne Mews - ICON II -
Vancouver Real Estate
New Listing in ICON II
False Creek North,
Downtown Vancouver
106 633 Kinghorne Mews BB
2 bedrooms, 2 bathrooms plus den and insuite storage
1604 square feet plus over 400 square feet of patio space.
Watch the boats sail by from your bedroom in this exclusive home which features 400 Square feet of patio space. Features include dark walnut floors throughout, stainless appliances with gas cooktop, granite counters, California closets in each room, air-conditioning, gas fireplace with gas outlet on patio.
Steps away from the luxurious
Club Oasis featuring a 80 foot indoor lap-pool, gym, steam room, hot tub and Hollywood style theatre room.
Nestled right off the
seawall in False Creek North next to the Marina.
24-hour concierge and bonus TWO parking stalls + additional storage space.
For more information contact:
Peter Raab
Vancouver Real Estate Agent
Labels: False Creek North, Icon 2, Icon II, luxury townhomes Vancovuer, real estate vancouver, Townhomes in False Creek North, Vancouver Real Estate, vancouver real estate agent
Monday, June 02, 2008
Town house for sale in Kitsilano
Just Listed in
Vancouver Real Estate,
Kitsilano.
2 level townhome in the heart of Kitsilano
1 bedroom, 1 bathroom
746 Square feet, pets and rentals allowed
North of 4th!
Enjoy Mountain and City views from the large deck off the living room, or walk out to your own private patio and garden oasis off the downstairs bedroom.
The suite has been recently upgraded including: new paint, baseboards, lighting, plumbing fixtures and new tiled kitchen floor. Includes a wood-burning fireplace. Building was partially rain-screened in 2003. One parking stall included, with lots of in suite storage and an office nook.
Live in the
best neighbourhood in Vancouver, a few blocks from Kits beach, and a block from all the funky shops and cafes on 4th Ave.
One block from
Sophie's Cosmic Cafe, Lululemon and a few blocks from Pacific boarder, Westbeach, Boardroom and Comor.
For more information contact:
Peter Raab
Vancouver real estate agent
Kitsilano real estate agent
Labels: Condos Kitsilano, Kits Beach, kitsilano, real estate vancouver, townhomes Kitsilano, Vancouver Real Estate, vancouver real estate agent
Tuesday, May 27, 2008
Revenue property in Vancouver
Located in East Vancovuer, a few blocks from Commercial drive.
Four separate suites, with 3 currently rented.
2324 square feet
Minutes to
downtown Vancouver,
Commercial Drive.
This totally rebuilt 1903 character home has two bedroom suites on the top and main floor, a large one bedroom suite, laundry room and a studio suite/work/storage room on the ground floor, 3 currently rented.
Completely rebuilt in 2004 with new foundations, sewer and drainage, and landscaping, exterior Hardy Plank siding, all double glazed windows, solid wood doors, all new plumbing, re-wired with phone, cable and high speed internet in each suite, two separate electrical panels: one for top floor (100 amp service) and another (200 amp service) for the main and ground floor. Extensive sound proofing between suites.No duct work all heat is electric, custom kitchen and bathroom cabinets, coin operated commercial grade washer/dryer, individual monitored security systems in each suite, fire sprinklers/smoke detectors in all suites, underground irrigation system, one off street parking and the list goes on.
Huge south facing deck off the top floor with retractable awning. RM-4, multiple dwelling zoning.
First open house Saturday May 31st from 2:00-4:00
Peter Raab
Vancouver real estate
Labels: Buying in Vancouver, Commercial Drive, real estate vancouver, Vancouver East, Vancouver Real Estate, vancouver real estate agent
Charming Character home Just Listed
6 Bedrooms, 3 bathrooms
2361 square feet
Two separate one bedroom suites which are great mortgage helpers.
Minutes from
downtown Vancouver, close to the
Vancouver Olympic Village.
Mount Pleasant is some of the most undervalued
Real Estate in Vancouver.
For more information contact:
Peter Raab
Vancouver Real Estate Agent
Labels: Buying in Vancouver, Just Listed Vancouver, Mount Pleasant, real estate vancouver, Vancouver Real Estate, vancouver real estate agent
Thursday, May 15, 2008
Open House for a 2 bedroom condo in Mt. Pleasant
Open House this Sunday May 18th from 2:00-4:00
Two bedroom, 2 bathroom condo in
Mount Pleasant, East Vancouver
201 440 East 5th, 2 blocks from Main street.
Steps from the new Skytrain station, the
Vancouver Olympic Village and the
Mount Pleasant community centre.
2 minutes from downtown Vancouver.
See my
Featured Listings for more information.
Peter Raab
Vancouver Real Estate Agent.
Labels: Mount Pleasant, Mt. pleasant, open houses vancouver, Vancouver East, Vancouver Real Estate, vancouver real estate agent
Concrete Loft in Gastown
Open House this Saturday May 17th from 2:00-4:00
One bedroom loft in historic
Gastown
732 square feet with views of the North Shore Mountains and the
Vancouver City.
See my featured Listings for more information.
Peter Raab
Vancouver Real Estate Agent
Labels: Gastown, lofts in Vancouver, open houses vancouver, real estate vancouver, Vancouver Real Estate, vancouver real estate agent
More New Listings in April in the Vancouver Real Estate Market
New Listings for attached, detached and apartment properties in Vancouver increased 25.6% in April 2008 to 7,010 compared to 5,580 in April 2007.
The Real Estate Board of Vancouver reported that residential property sales in the
Vancouver Real Estate market totaled 3.218 in April 2008, which is a 5% decline from last year.
However, despite the balanced market, it took, on average, six days less to sell a home in the Vancouver Real Estate market compared to last year.
For more information contact:
Peter Raab
Vancouver Real Estate Agent.
Labels: Vancouver market update, Vancouver Real Estate, vancouver real estate agent, vancouver real estate update
Wednesday, May 14, 2008
Just Sold across from Kits Beach
Just sold across from
Kits Beach.
1466 Arbutus Street, a beautiful townhouse in
Kitsilano; north of Cornwall.
Steps from
Kits pool,
Watermark Restaurant and
Kits Point.
This is some of the most prime real estate Vancouver has to offer!
For more information contact:
Peter Raab
Vancouver Real Estate Agent
Labels: Condos Kitsilano, Kits Beach, Kits pool, kitsilano, Kitsilano real estate, real estate vancouver, townhomes Kitsilano, Vancouver Real Estate, Watermark Restaurant
Friday, May 02, 2008
Vancouver real estate market update
Below is a link by CMHC outlining what is happening in the Vancouver real estate market.
Vancouver Real Estate Market Update
For more information contact:
Peter Raab
Vancouver Real Estate Expert
Labels: cmhc, real estate vancouver, Vancouver Real Estate, vancouver real estate agent, vancouver real estate update
Thursday, May 01, 2008
Open House for a 2 bedroom in Mount Pleasant
Open House Saturday May 3rd from 2:00-4:00
201 440 East 5th Ave.
2 bedrooms, 2 bathrooms plus den/storage.
2 large private balconies.
1097 square feet.
Offered at $489,900
This home has lots custom work done throughout including wood paneling in the kitchen ceiling, hide away office in the foyer and custom paint throughout. The open concept kitchen has been meticulously renovated with custom glass tile on the bar counter and handstone countertops.
Two large private balcony's are surrounded by gorgeous gardens with west facing city views. Must be seen to be appreciated. 2 blocks to Main St, close to new Skytrain station, community centre and Olympic Village
For more information contact: Peter Raab
Vancouver Real Estate Agent
Labels: Mount Pleasant, open houses vancouver, real estate vancouver, Vancouver Real Estate, vancouver real estate agent
Open House for a Loft in Gastown
Open house this Saturday May 3rd from 2:00-4:00pm
411 1 East Cordova Street.
Concrete loft in Historic Gastown.
1 bedroom, 1 bathroom with office space.
732 square feet.
1 secure underground parking included.
Pets and rentals allowed.
Enjoy beautiful City and Mountain views from this loft in historical Gastown. Towering 15 foot ceilings in this corner unit with windows on both walls give this space a bright open feel.
Feel confident in purchasing a solid concrete building surrounded by new development and historic buildings. One block from the new Woodwards building and surrounded by restaurants and funky boutiques.
For more information contact: Peter Raab
Vancouver Real Estate Agent.
Labels: concrete lofts Vancouver, Gastown, lofts in Vancouver, open houses vancouver, real estate vancouver, Vancouver Real Estate, vancouver real estate agent
Wednesday, April 23, 2008
First time homebuyers still finding ways to purchase a new home
Although prices keep rising in the Vancouver real estate market; first time home buyers are still finding ways to purchase there first home.
Often it means sacrifices such as purchasing a smaller property or purchasing a home in a different location, however buyers are realizing the value of owning real estate in Vancouver vs. renting a property in Vancouver.
As the prices in area's such as Kitsilano, Point Grey, South Granville and Downtown Vancouver reach become unreachable for most, these people are moving east to area's such as Mount Pleasant, Commercial Drive area and Renfrew. Because of this, these neighbourhoods are going through significant changes.
Although the Vancouver Real Estate Market continues to be healthy, we now have 30% more listings on the market than last year which is allowing buyers to take their time and choose their home more wisely, according to
Peter Raab,
Vancouver real estate agent.
Labels: Commercial Drive, Downtown Vancouver, first time home buyers, kitsilano, Mount Pleasant, south granville, Vancouver Real Estate
Monday, April 21, 2008
One bedroom Loft in Gastown
Just Listed in Downtown Vancouver, Vancouver East
1 bedroom Loft in a concrete building
732 square feet
Views of the North Shore Mountains
2 levels with a bedroom, storage/laundry room and office on the 2nd floor
Offered at $390,000
First open houses are Saturday and Sunday April 26th and 27th from 2:00-4:00pm.
Contact Peter Raab for more information
Vancouver Real Estate Agent.
Labels: Downtown Vancouver, Just listed, Vancouver East, Vancouver Real Estate
Sunday, April 20, 2008
2 bedroom condo in Mt. Pleasant
201 440 East 5th
Extra large 2 bedroom, 2 bathroom plus den/storage
1097 square feet
Offered at $489,900
This home has lots custom work done throughout including wood paneling in the kitchen ceiling, hide away office in the foyer and custom paint throughout. The open concept kitchen has been meticulously renovated with custom glass tile on the bar counter and handstone countertops.
Two large private balcony's are surrounded by gorgeous gardens with west facing city views. Must be seen to be appreciated. 2 blocks to Main St, close to new Skytrain station, community centre and Olympic Village.
Open House Saturday April 26th and Sunday April 27th from 2:00-4:00
Peter Raab
Vancouver Real Estate Agent<
Labels: List Listed, Mt. pleasant, Vancouver Real Estate
According to the British Columbia Real Estate Associations forecast, residential sales are expected to increase six per cent from 85,028 units in 2009 to 90,100 units in 2010 before retreating three per cent in 2011. 
