Listings & Sales
What I’m currently working on
R2116711
A detached 2 storey home on a 11,000 sqft lot backing onto green belt and Mundy Creek Park. South views to Mt. Baker and the Valley boasting over 2,500 sqft of living space ready for creative idea's to finish the renovations. Prime location near Dartmoor subdivision close to Hickey Park and the beautiful Mundy Park.
SOLD to a young family
Reluctance amongst Metro Vancouver* home sellers is impacting sale and price activity throughout the region’s housing market.
“February home sales were well below the record-breaking activity from one year ago and in line with our long-term historical average for the month,” Dan Morrison, Real Estate Board of Greater Vancouver (REBGV) president said. “Limited supply and snowy weather were two factors hampering this activity.”
New listings for detached, attached and apartment properties in Metro Vancouver totalled 3,666 in February 2017. This represents a 36.9 per cent decrease compared to the 5,812 units listed in February 2016 and an 11.4 per cent decrease compared to January 2017 when 4,140 properties were listed.
This is the lowest number of new listings registered in February since 2003.
The total number of properties currently listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver is 7,594, a four per cent increase compared to February 2016 (7,299) and a 4.9 per cent increase compared to January 2017 (7,238).
For the full report and to download the stats package, please click here.
*Editor’s Note: Areas covered by the Real Estate Board of Greater Vancouver include: Whistler, Sunshine Coast, Squamish, West Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richmond, Port Moody, Port Coquitlam, Coquitlam, Pitt Meadows, Maple Ridge, and South Delta.
Article source: The Real Estate Board of Greater Vancouver
R2133164
“Immaculate” Rancher with Daylight basement located in “Dartmoor Subdivision” offering view and a private easy care park-like lot. No grass to cut. Easy walk to new Save On Foods, Mundy Park, all schools + bus at your front door. Features: large covered deck off the main living with gas BBQ, open floor plan, new laminate throughout, S/S Appliances with gas stove and B/I microwave (1 yr), Roof (14yrs). Great location & good floor plan for home stay students with 4th bdrm having full ensuite. Wet Bar in large rec-room. Easy to suite + office built-in desk + loads of parking.
SOLD to young couple
Clark made the statement during a scrum at Vancouver’s Chinatown Lunar New Year Parade in response to questions on U.S. President Donald Trump’s travel ban on people from seven predominantly Muslim countries.
“We believe that people who are seeking refuge around the world should be able to find safe haven here in our province,” Clark said. “We believe that people, the best and the brightest, should be able to come to British Columbia.
“We are going to lift the foreign owners tax on people who have work permits who are paying taxes and living in British Columbia, as a way to encourage more people to come.”
Although this is interesting news and seems positive at first, I feel this should have been thought of well before the tax was first introduce. This lift now brings many other questions, such as:
I'm sure many more questions will arise in the next several weeks and the true effect of this tax is still to be determined. But I still feel that the government is way too much involved in BC Real Estate, Greater Vancouver to be specific, while trying to please everyone at the same time.
Source: Vancouver Sun and The Globe and Mail
Sameer Padamsey, mortgage broker with Invis - Lutz & Associates Mortgage Consultants, sits down with Global BC to talk about some of the risks involved with the BC Home Partnership Loan.
Source: Global BC
The BC Home Owner Mortgage and Equity Partnership (BC HOME Partnership) assists British Columbia residents who are eligible first-time homebuyers by providing repayable down payment assistance loans.
The BC HOME Partnership Loan contributes to your personal down payment, up to a maximum of five per cent of the purchase price. You need to ensure that the amount of your personal down payment, plus the BC HOME Partnership loan, meet the minimum down payment requirement for an insured first mortgage loan.
The BC HOME partnership loan is for an initial 25-year term, which is interest and payment free for the first five years. The loan will be registered on your property title as a second mortgage.
To qualify for BC HOME Partnership loan, anyone who appears on the title of the home must meet the following criteria:
Other criteria are:
Source: www.bchousing.org
This building needs no introduction. The renowned SOLO District: Stratus Tower by THE BOSA LEGACY - APPIA Development. Geothermal building with air conditioned units, full service concierge, state of the art amenities, 4 high-speed elevator channels and best of all only 1 year young w/ full 2-5-10 warranty. You are steps from Whole Foods, Starbucks, restaurants, and other local shops. One block from Skytrain and the most anticipated redevelopment: Brentwood Mall. This is a functional floorplan, a corner unit, with separated 2 bedroom & 2 Bath + Office, stays bright with natural light through the large floor to ceiling windows, 9ft ceilings and state of the art appliance.
SOLD OVER ASKING ON FIRST SHOWING
We are only in the second week of January 2017 and already there are so many things to talk about. In this post I want to discuss 3 main things that's creating a buzz in the Greater Vancouver real estate market.
1. B.C. First-Time Homebuyers Loan Program - Is It Helping?
As most of you already know the local government in British Columbia announced in December that new provincially backed loan program would match the amount a first-time buyer has saved for a down payment — up to $37,500, or five per cent of the home’s purchase price. This is to help middle-class British Columbians overcome the hurdle of saving for expensive down payments.
Although this sounds great in trying to help first time buyers, in my opinion, I'm not sure if this is healthy for the entire market. We are already in short supply to match the high demand and now we are adding more fuel by allowing more buyer's qualify. Also, after 5 years when the no-interest term expires, aren't we leading more residents and Canadians into debt? Not only will they be in debt with the bank, they will now be in debt with the government. How is that helping Canadians and local residents for the long haul?
I have to admit this is great for developers, real estate industry, mortgage brokers, and even sellers but I'm not sure if this is the help the local's really need.
2. BC Property Assessment - Skyrocketed
Lower Mainland homeowners would of received their 2017 Property Assessment and some are seeing 30-60% increase compared to last year. Does this really reflect the value of your property?
If you would allow me to shine some light into this topic, first, IGNORE the tax assessment. Simply put this is a document drafted by a civil worker behind a computer giving an amount on your property that the government can use to collect tax. Please remember that property assessments are made on July 1st of every year so you need to ask yourself this questions "is this a reasonable expectation of what I could of sold my property for back in July 1, 2016?" Once you answered this question you also need to remind yourself that whatever happened in the market after July 1st 2016 will be reflected on the 2018 property assessment. So does this current assessment give you a good indication of the current market value of your home? My answer is "NO". Simply, the number you see on your current property assessment is 6-10 months behind.
3. Demand Outweighs The Supply
Currently in Greater Vancouver (excluding Fraser Valley) we have 6,519 total residential listings. That is detached, attached, and land all included. However, if we remove Whistler, Pemberton, Bowen Island, Gulf Islands and Out of Town areas, because those areas don't really affect us, that brings the listing count down to 5,131. This is extremely low amount of inventory and the demand for real estate definitely outweigh the supply. We are still seeing multiple offers in sharply priced homes, townhouses and condo's while luxury expensive homes have definitely slowed down and the we are already seeing price adjustments in that category. Although we are seeing more price negotiations compared to last spring and summer, with the current amount of inventory at a all time low, I expect the prices to start climbing again. This time last year we had about 7,500 listings... it's almost deja vu.
It's the middle of December 2016 and Vancouver finally received its first snowfall for this season and it was a big one. Vancouver winter's don't usually consist of a lot of snow, it's rare to see roads and schools closing due to snow. But this year we finally got that long over due snowfall.
As many know, Vancouver consists of big tall trees, a lot of water and mountains. As beautiful it is in the summer it is stunning to see when it's fully covered in white. Roads were slippery and there sure weren't any open houses with buyer's running around this past weekend but that was totally okay, because once in a while we just need to take a step back and really enjoy what God had created. Oh, but don't get me wrong, offer's were still being written and there were buyers being active. However, with Christmas right around the corner and with slippery conditions plus more snow in the forecast, I think it's safe to say that this December is looking to be a warm cozy month in front of the fireplace and enjoying company with your friends a loved ones. Let's enjoy times like this while it's here because it looks like 2017 is going to be another busy year of real estate in Vancouver. I can sense it!
Be safe and blessings to you all.
Merry Christmas.
Visited Fulton House by Polygon today with a client, a one-of-a-kind iconic residential tower in the heart of Burnaby’s vibrant Brentwood community.
Fulton House offers the best of both worlds – the friendliness of a truly residential building and immediate access to a wide array of amenities – from the new Whole Foods Market just up the street, to the shops and services at Brentwood Mall, or the convenient SkyTrain network for an easy commute to downtown Vancouver.
Meticulously designed by award-winning Buttjes Architecture Inc., Fulton House makes an impressive statement in the city’s skyline with an ideal balance between modernism and elegance, boasting 303 beautiful one and two-bedroom apartment residences. Inside, thoughtful design gives way to a refined ambiance, an abundance of natural light, and a plethora of convenient features such as smart kitchens with central islands, and side-by-side washers and dryers with storage closets
The well-appointed Fulton Club offers residents seamlessly integrated indoor and outdoor spaces for entertainment, fitness and relaxation. Enjoy a resort-inspired swimming pool and hot tub, an expansive green terrace with health-enhancing equipment, as well as a double-height fitness centre featuring the latest equipment and a dedicated yoga studio.
SOLD to a young first-time buyer
