Friday, June 26, 2009

I just sold this 1-bedroom in downtown Vancouver for $315,000 in 2-DAYS!






Freshly updated 1-bedroom & den suite with a built-in Murphy bed. New paint & carpets accent this bright South-East facing apartment with high 9' ceilings. This 706 sqft efficiently situated apartment offers superb utilization of space. The well laid out open galley kitchen offers easy entertaining. Lrg Mbdrm, Den/solarium is perfect for guest with a built in Murphy bed & space for a desk. Free laundry on every floor, 1 prk & 2 strg. lockers for extra items. This beautiful home is ready to move in. Great location - steps from Yaletown, West End, shops & beaches! Fabulous amenities - gym, billiard & media room. Mtnce fees incl. heat & hot water. Sun lovers enjoy the rooftop deck.

Wednesday, June 17, 2009

10 Tips for Finding and Buying Your Dream Home




Here are 10 practical tips for finding and buying your dream home:
1. Do your research by scouring newspapers and real estate websites. Make a move only with a certified real estate agent—their knowledge and guidance are crucial to a successful buy.
2. Narrow your house search by focusing on the features and location you want. Being honest with yourself helps you to spend money and time wisely.
3. Look for the cheapest house in the best neighbourhood. If you renovate it properly, a return on your investment is guaranteed.
4. Don’t shy away from a house that’s been cut up into apartments. Converting it back to a single dwelling is easier than you think.
5. Prepare for a trade-off. There is no such thing as a perfect home. Prioritize sacrifices and deal breakers.
6. Beware of cosmetic upgrades. If renovating you’ll pay twice: to buy it and to replace it.
7. Location is everything. You can change almost everything about a house except where it’s located.
8. Parking is a must-have. Think of it as part of your investment.
9. Keep perspective. If a deal falls through another one will come along in the not too distant future.
10. A sense of humour helps. The laughs are there if you look hard enough!


(Sourced from: By: the Sarah's House Design Team..http://www.hgtv.ca/articles/articledetails.aspx?ContentId=2435&cat=3&by=1 )

Monday, June 8, 2009

Canada’s Housing Starts Rise in May, CMHC Says



June 8 (Bloomberg) -- Canadian housing starts rose in May on construction of both single- and multiple-unit homes, Canada Mortgage and Housing Corp. said today from Ottawa.

The total of 128,400 units on an annualized basis compared with 117,600 units in April. Economists anticipated the pace of starts would rise to 126,000 units, according the median of 20 responses in a Bloomberg survey.
The Bank of Canada estimated in April that housing will cut 1.1 percentage points from growth this year as increasing job losses and falling incomes lower demand for homes.

“May’s figures are an improvement from an especially bad previous month, but the general outlook for residential construction remains weak,” Meny Grauman, an economist at CIBC in Toronto, said in a note to investors. “Starts are down over 40 percent versus last year, and we expect to see no material improvement this year.”
The annual pace of work on projects such as apartments and condominiums in cities rose 11 percent from April to 60,900 units, CMHC said today. Single-family houses in urban areas increased also rose 11 percent to a rate of 46,900 units.

The natural “demographic demand” for new homes in Canada is about 175,000 units, CMHC said in the release today.
Source (By Theophilos Argitis~ targitis@bloomberg.net.)

Thursday, June 4, 2009

Mortgage Rates Have Increased


Work with Roland Kym and you can receive these mortgage rates, only certain Sutton Realtors can provide Canada's Lowest Mortgage Rates! Hurry now to lock in your low, low interest rates before they increase further.

Tuesday, June 2, 2009

Increased demand steadies housing market in Greater Vancouver



A continued increase in buyer activity over the last four months has resulted in increased home sales and lessened the downward pressure on housing prices in Greater Vancouver.

The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totalled 3,524 in May 2009, an increase of 17.4 per cent from the 3,002 sales recorded in May 2008, and an increase of 18.9 per cent compared to last month.

Since the beginning of the year, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver has increased 4.5 per cent to $506,201 from $484,211. However, home prices compared to May 2008 levels are down 10.9 per cent.

“The increased level of buyer activity over the last few months has had a stabilizing effect on home prices across our region,” Scott Russell, REBGV president said. “MLS® data continues to show a trend toward a balanced market in the region.”

New listings for detached, attached and apartment properties declined in Greater Vancouver, down 36 per cent to 4,733 in May 2009 compared to May 2008, when 7,390 new units were listed. At 13,641, the total number of property listings on the Multiple Listing Service® (MLS®) declined 4.7 per cent compared to last month and 16 per cent compared to May 2008.

Sales of detached properties increased 16.5 per cent to 1,402 from the 1,203 detached sales recorded during the same period in 2008. The HPI benchmark price for detached properties declined 11.8 per cent from May 2008 to $680,320.

Sales of apartment properties in May 2009 increased 17.2 per cent to 1,458, compared to 1,244 sales in May 2008. The benchmark price of an apartment property declined 10.2 per cent from May 2008 to $349,987.

Attached property sales in May 2009 are up 19.6 per cent to 664, compared with the 555 sales in May 2008. The benchmark price of an attached unit decreased 9 per cent between May 2008 and 2009 to $435,848.

Source (REBGV May Statistics)

Monday, June 1, 2009

Location, location, location Using new online search tools to find neighbourhoods that suit buyers


Search tools like zoocasa.com (above) finds property listings based on a buyer's criteria, then locates them in the neighbourhood and provides comparable sales data.
Photograph by: zoocasa.com, .

With new research-based search tools cropping up all the time, the Internet is no longer just a place for house hunters to find property listings.

Their search tools will show you amenities in the neighborhoods you are looking at, where the schools are and in the City of Vancouver, even who your neighbors’ might be.

Web-savvy Vancouver realtor Kye Grace, with Sutton West Coast Vancouver, has dug up some tools that are rich with information consumers can use to help figure out where they want to live before heading out to look at homes.

With Metro Vancouver real estate prices and interest rates falling, more new -- and tech-friendly -- buyers are interested in exploring the market.

"Where online searches work well is, they can hyper-focus your search," Grace said.

Grace, who conducts all of his marketing online and is an advocate of social media, including the new networking phenomenon Twitter, points to a few websites.

Zoocasa (www.zoocasa.com) is a good place to place to start. It finds lists of properties for sale that meet a consumer's search criteria for locations in major Canadian cities.

Links from those listings locate the homes within a neighbourhood and point out schools.

"What I think is neat, if you click on 'more details,' [Zoocasa] will show you schools, it will show you recent sales that are somewhat comparable," Grace said.

For those focused on Vancouver, Grace suggests the site Blocktalk (www.blocktalk.ca), which is a good spot for consumers to start gathering information about neighbourhoods they're not familiar with.

Blocktalk will, by neighbourhood, locate an address on a map and give you an indication of who your neighbours would be.

Type an address into the search field, or click on a locator map, Blocktalk will build a detailed neighbourhood profile of the people who live there from age and income to ethnic origin using census information.

"It gives you an idea who you would be living around and breaks down occupations, ages and how people get to work," Grace said.

Grace also recommends using the site Walkscore.com, which marries Google Maps with business listings to show the walking distance from an address to the nearest shops, restaurants, grocery stores and other amenities.

These online tools, Grace said, can help take some of the leg work out of searching for a home, but you still do have to go out and look at the listings that catch your fancy.

"When it comes to buying a home you can love, nothing online can replace the feeling you get when you see [a listing] outside or inside," Grace said.

(SOURCE) depenner@vancouversun.com