Archive for June, 2009
Will Vancouver Condos Keep Flying out the Door?
June 29th, 2009 Categories: Real Estate
Vancouver’s real estate market started bubbling in January. I was in a multiple offer situation back then and noticed an increase in buyer inquiries compared to last Fall. In February I noticed condos that were priced right were selling in 30 days. But April was when it went crazy and it hasn’t stopped since.
I listed or sold within a week, condos in the Capers building, Citadel Parade, 1616 Bayshore Drive, 2057 W. 3rd, The Qube, Aquarius 1 and many had multiple offers.
If sales for June are less than May I believe it’s because the listings aren’t keeping pace with the sales. Vancouver west side has fewer listings than they did a year ago and the sales for June will be more than June 2008. Read the rest of this entry »
| Discussion: No Comments »
What’s Your Vision for 1818 Cornwall?
June 26th, 2009 Categories: Real Estate
Currently an office building, 1818 Cornwall sits on the corner of Cypress & Cornwall in Vancouver’s Kitsilano. It used to be a Coca Cola bottling plant prior to being converted to an office building in the early ’80s. The building is owned by a Canadian Pension Fund who say it is near the end of its life cycle and doesn’t meet current energy efficiency and sustainability standards.
Re-investment in the building to extend its life for the longer term is not an economically viable solution. Currently there is no redevelopment plan for the property. Brook & Associates, development planning consultants and Walter Franci Architects have joined the Bentall team (property-managers) to work with the community and City to create a plan for redevelopment of the site.
Their intention is to create a development that performs above conventional building standards, a building that will have minimal impact on the environment. Any development on the site will meet or exceed LEED Gold standards.
After hosting a series of public Open Houses and a Workshop to seek the community’s input into the use and form of the proposed project, they will prepare and submit a rezoning application for the site that will permit a new development.
Visit their website and submit comments and questions if you live in the neighbourhood.
Innovative planning process don’t you think? Share your ideas for this site with us.
keep up to date with vancouver’s changing real estate market, subscribe via RSS or email. when you’re ready to buy or sell, contact Maggie, an experienced realtor marketing vancouver real estate since 1981
| Discussion: No Comments »
Vancouver’s Empty Condo Theory Exaggerated
June 25th, 2009 Categories: Real Estate
Andrew Yan conducted a study of condo occupancy in Downtown Vancouver. Yan is a planner & researcher with Bing Thom Architects. So who doesn’t live Downtown and how do empty condos impact the future of Urban Housing in Vancouver? The study focused on Downtown, excluding the West End.
Vancouver’s Mayor had talked about taxing the offshore owners who leave their condos empty, and use the monies generated to build housing for the homeless. He speculated that hundreds sat empty.
The study’s results were surprising, even to Yan. “I was thinking the number would be much higher, but it wasn’t”.
“If Vancouverism 1.0 is embodied by tall skinny towers and one bedroom, investor-driven condominium projects for Downtown Vancouver, then Vancouverism 2.0needs to redress this imbalance by providing more affordable family-oriented housing units with great supporting amenities,” concludes Yan. “Without this, the sustainable communities with opportunities to live, work and prosper that the City aspires to are likely unachievable.”
“The biggest questions is what kind of City do we want to live in and what are we willing to do to get there”.
Are you surprised? Comments welcomed.
Did you know you can search for listings on this site? View my other posts on False Creek North. When you’re ready to buy or sell Vancouver real estate , contact Maggie Chandler, an experienced realtor marketing Vancouver real estate since 1981
this site is updated regularly, subscribe for FREE via RSS or email.
the above information is deemed to be accurate but should not be relied upon
| Discussion: No Comments »
Wordless Wednesdays
June 24th, 2009 Categories: Wordless Wednesdays
| Discussion: No Comments »
Tips to Reduce Renovation Costs
June 23rd, 2009 Categories: Real Estate
This is a Guest Post by Kat Sanders from the Fixer-Upper Blog. She welcomes your comments
Tips to Reduce Renovation Costs
There are so many benefits that you stand to gain when you renovate your home, the most obvious one being that of a good-looking and well-maintained home whose value is raised considerably. Besides this, you also get to live in a more comfortable home, one that looks and feels as good as a new one but which still retains all that you’ve come to love about your old one. Home improvements are good no doubt, but they tend to play havoc with your finances. If you’re looking for ways to reduce and minimize your renovation costs, here’s what you need to do: Read the rest of this entry »
| Discussion: No Comments »
Which are Vancouver’s Most Expensive Neighbourhoods?
June 22nd, 2009 Categories: Real Estate
When searching for a Vancouver home, buyers often have to adjust their criteria list and settle for a less expensive neighbourhood. Let’s take a look at which are Vancouver’s most and least expensive neighbourhoods and which have performed the best and worst over the last 1 and 5 years.
For Detached – based on the Real Estate Board’s benchmark price, Shaughnessy is The Most Expensive neighbourhood in Vancouver, clocking in at $2,016,725 and it has appreciated 94% over the last 5 years. Quilchena comes in second at $1,600,000 and appreciated 77% over the last 5 years. McKenzie Heights third at $1,538,887 appreciating 71% over the last 5 years. Fourth is South Granville at $1,493,374 (55%) , followed by Arbutus at $1,430,598 (57%) . Kerrisdale at $1,393,456 ( 66%) and Point Grey at $1,357,088 (74%).
Best value for Vancouver Detached is Marpole at $788,331 (46% increase over last 5 years), then Cambie at $964,518 (62%), Kitsilano at $1,005,685 (27%), Oakridge at $1,028,576 (39%), Dunbar $1,117,763 (55%), S.W. Marine at $1,125,000 (58%) and Southlands $1,233,965 (52%). Read the rest of this entry »
| Discussion: No Comments »
Canada Real Estate Roundup
June 21st, 2009 Categories: Real Estate
Take a look at what’s happening in the Canada real estate market. Compared to one year ago, Real Estate prices in the big cities of Vancouver, Calgary and Edmonton & Saskatoon are lower. Winnipeg, Ottawa, Montreal prices are up, as are all the Maritime Provinces & Newfoundland. The following is a release by CREA, you can hold your mouse over a specific city or province and view the current average price and the average price one year ago.
National resale housing market activity returned to pre-recession levels in May 2009. The rebound in activity is being led by an increase in transactions in some of the most expensive markets in the country, which is skewing the national average price upward.
View my Canadian real estate blogs Read the rest of this entry »
| Discussion: No Comments »
Vancouver Real Estate Analysis for False Creek North May 2009
June 18th, 2009 Categories: False Creek North, Real Estate
A tight market! Listings Down! Sales Up! Vancouver real estate analysis for False Creek North in May (compared to April) saw listings down from 174 to 158 and are the lowest for the last 18 months. Sales up from 42 to 59. Days on the market down to 69. The average selling price up substantially to $721,686. Average $ psf is up to $651 and is the highest for the year. The average supply of condos in this waterfront hood dropped to only 2.2 months, a quarter of what it was in March and down from 13 months in February and 17 in January. Two sales over $2 million. In March there were none over $1M. This neighbourhood now selling well under $700,000. The most number of sales were betwee $500K and $700,000. Market sales increasing and the price range that’s selling is moving up. See how bad things were in November.
Listings - 135. 4 listings under $400,000. 9 listed between $400,000 & $500,000. 20 listed between $500,000 and $700,000. 44 listed between $700,000 and $1 million. 42 listed between $1 & $2 million and 16 listed over $2 million.
Least expensive $259,00 for a studio at 910 Beach. This sold new in 1997 for $169,000. Most expensive The 6900 sq.ft. Penthouse at 1000 Beach. Now listed at $9,800,000. Read the rest of this entry »
| Discussion: No Comments »
Vancouver Real Estate Analysis for Olympic Village Neighbourhood May 2009
June 17th, 2009 Categories: Olympic Village, Real Estate
Vancouver real estate statistics for False Creek South (Olympic Village) saw listings (Foundry just completed) and sales down for May 2009. We can only track the activity for this neighbourhood through MLS, not the Developers who are pre-selling, but that will eventually change and then we can get a better feel for the neighbourhood.
Listings – Feb 19, Mar 18, Apr 16, May 26
Sales - Feb 0, Mar 3, Apr 5, May 3
Average Days on Market for Solds – Mar 22, Apr 28, May 14
Average Sale Price - Mar $399,000 , Apr $325,000, May$429,665
Average $ pr sq ft - Mar $485, Apr $533, May $557 Read the rest of this entry »
| Discussion: No Comments »
Wordless Wednesdays
June 17th, 2009 Categories: Real Estate
| Discussion: No Comments »
; ?>/images/MatoChiclet.gif)
