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NEW LISTING!
1367 W 7th Avenue
Vancouver
Treat yourself to the old world charm of this classic London inspired townhome. Step through the wrought iron gates into a beautiful garden courtyard. Tucked away on a quiet tree-lined street this corner unit features bay windows, skylights, two fireplaces, parquet flooring and extensive millwork unlike anything currently available in Vancouver. This inspired space offers house-size living, dining and rec rooms. Enjoy a view of the city from your massive master bedroom w/luxurious marble ensuite; simply the largest 2-bed townhome available. New light fixtures, paint, newer s/s appliances, the list goes on and on. Don't miss your chance to live a life of convenience, class and inspiration at Wemsley Mews. $799,900
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NEW PRICE!
#1106 121 W 15th Street
North Vancouver
Wood-frame vs. Concrete? This is a no brainer...buy concrete. Can't afford a concrete condo with a sweeping view...Think again! This one bedroom condo is located on the NW corner of an 11 year old concrete building. With sweeping mountain views and peek-a-boo water views to the west this unit is one of a kind. This suite has an open plan with lots of windows, in-suite laundry, lots of storage (5 closets plus a storage locker) and stunning new floors. Enjoy the view while you BBQ on your large balcony. Steps to shops, restaurants, transportation and library. All the features you need at a price you can afford! What are you waiting for?! $299.000
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INVESTOR ALERT!
$2,500 per month
#103 1655 Nelson Ave
Vancouver
This large 2 bed +den offers flexibility not found in most 2-bed condos. The den has a large south facing window and is large enough to be a small third bedroom (8' x 9'). This turnkey condo offers stylish upgrades including designer paint, crown moldings and new lighting. It boasts a newer kitchen w/new eating bar. This suite is currently rented furnished for $2,500 per month. Call now! $474,000
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Greetings!
Consistent increases in property listings and fewer home sales over the summer months has helped move the Greater Vancouver housing market into the upper end of a buyers' market. I expect this trend to continue as we move into the last quarter of 2011.
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Home values to remain steady...
Central 1 Credit Union recently released their Economist Analysis of British Columbia. According to this report, "Central 1 deems a significant price correction in the Lower Mainland-Southwest to be unlikely for various reasons. First, much of the price growth in the region has been attributed to disproportionately strong demand for higher priced single-detached product in localized regions such as the west side of the City of Vancouver and Richmond. In contrast, price gains have been less substantial in other markets and product types, meaning this has not been a region-wide price surge. Moving forward, demand will likely remain stable as economic growth, albeit slow, persists and mortgage rates remain low."
This is one the few reports that takes into account the fact that the numbers have been skewed by the luxury markets. To obtain a clear sense of current market trends and movement, the extreme sub-markets need to be removed from the mix as they greatly affect the data. Generally speaking the areas that are not being targeted by offshore investors have seen moderate or very little growth.
This is a great read and covers other important issues such as the removal of the HST, housing starts, etc.
Click here for entire report |
September 2011 in your neighbourhood:
North Vancouver:
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Avg Sale Price (year to date) | Median Sale Price |
Sales | Listings |
% Sales to Listings | | Detached Homes |
$1,034,297 | $950000 |
79 | 204 |
39% | |
Townhomes & Duplexes |
$637,623 | $649,000 |
35 | 69 |
51% | | Condos |
$401,187 | $367,500 |
48 | 196 |
24% |
West Vancouver:
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Avg Sale Price (year to date) | Median Sale Price | Sales | Listings | % Sales to Listings | | Detached Homes |
$2,171,776 | $1,830,000 |
71 | 189 |
38% | | Townhomes & Duplexes |
$1,033,485 | n/a |
3 | 12 |
25% | | Condos |
$1,067,033 | n/a |
11 | 34 |
32% |
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Mortgage Minute with BJ Block: No Rate Hikes?
"No rate hikes until 2013!" is the latest consensus amongst economists. Michael Gregory, senior economist with BMO Capital Markets puts it "As global economic risks have escalated, casting commodity prices and the Canadian dollar much weaker, the Bank of Canada's diminishing tightening bias has probably diminished further." Lenders have reacted in kind by cutting discounts on 5 year variable rates, trying to move business over to the more profitable 5 year fixed rate mortgage. Even so, with bond yields trading at record lows, we're seeing some excellent offerings in the fixed mortgage market, particularly 3 and 4 year mortgage terms. One thing is for sure, the 'historically low rates' have lasted much longer than many expected, and look to remain low for some time yet.
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