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Hi everyone!  

I'm a little late in the seasonal update department (Groundhog DayValentine's Day trivia, and Chinese New Year). However, it's never too late to enjoy a good meal!  Check out this list of Vancouver's best Chinese restaurants.

 

Where the market is headed continues to be a topic of great interest.  According to the UDI, there is no bubble in the local market and it hasn't burst.  To me, the market is what it is: serious buyers are purchasing, and well-priced homes are selling. 

Real Estate Matters

The Real Estate Board of Greater Vancouver creates a great video each month to summarize the local market:  here's January's update

 

Check out the newly launched housing affordability index for Metro Vancouver 

 

Here's a great concept:  secondary suites as strata (not rental)

 

Could Surrey become Vancouver's version of Brooklyn?  Plus some pics showing what you can buy for approx $450K in Vancouver and in Surrey 

 

Pictures!  West Van palace lists for $38M (gaudy and completely over-the-top)

 

Any first time buyers in your life?  Here's a few ways to leverage this year's RRSP contribution for the down payment 

 

Is 2013 the year for the reno?  Here's a renovation reality check:  they can take a long time, and don't necessarily add value.

 

The top 3 reasons to visit my website!

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Market Statistics for January 2013
Headlines sell newspapers, but the relevant story on the market is in the details.  Check out what's happening in areas and neighbourhoods that matter to you: 
   -  Vancouver, West Van, North Van & Richmond, click here

   -  Burnaby, Coquitlam, New West, PoCo, Pitt Meadows and Maple Ridge, click here 

   -  Fraser Valley reports are now available - click here 

  

Be cautious when price changes are reported, as they're usually at an aggregate level (i.e, condos & single family homes combined, from Whistler to Maple Ridge).  The MLS HPI (similar to CPI) is the best way to measure changes in home prices. The stats packages from the REBGV and FVREB contain HPI price changes, by city & property type. You can also find the reports on my website on the tab How's the Market

Market in Action

Below are selected homes that sold in January at or close to the Benchmark Price for that city.  If you'd like more info on any property or neighbourhood, just ask! 

MLS#V985687       

   v985687

NWest, Queensborough

List Price $637K

Lot: 2841sf

List Price $2.08M

Lot:  6846 sf

MLS# V946726

   v946726       

Richmond, Brighouse

List Price $998K

Lot: 8298sf

MLS#V984323  
   v984323    

North Van, Calverhall

List Price $939K

Lot: 6260sf

MLS# V983750
v983750      

PoCo, Birchland Manor

List Price $549K

Lot: 7076sf

MLS#V984986

  v984986      

Van East, Kilarney

List Price $825K

Lot: 3456sf

MLS# F1225481

  f1225481     Cloverdale

List Price $571K

Lot: 3360sf

Closing Thoughts

I don't know about you, but I'm tired of grey skys and rain, and ready for some sunshine!  Here are pics of ten signs of spring in Vancouver - something to keep an eye open for!

 

If you have any questions about the real estate market as it pertains to your neighbourhood, let me know, I'd be happy to find those answers for you!

 

Cheers, Kathy

 

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Kathy PlanteCan't see the image? Click the link above

604-329-1405

Sutton Group - West Coast Realty