Saturday, February 16, 2013 from 1 to 4pm
#900-9 Smithe Mews, Vancouver BC 2081 sqft
3 Bedrooms and 3 Bathrooms $1,899,900
Sunday, February 17, 2013 from 11 to 1pm
#900-9 Smithe Mews, Vancouver BC 2081 sqft
3 Bedrooms and 3 Bathrooms $1,899,900
Sunday, February 17, 2013 from 2 to 4pm
#36-9000 Ash Grove, Burnaby BC 1410 sqft
3 Bedrooms and 2.5 Bathrooms $434,900
In another study Vancouver has been crowned the most expensive city in North America, ahead of both New York and Los Angeles, which tied for 27th on the annual EIU Worldwide Cost of Living Survey. Worldwide, Vancouver ranked 21 on the list. In the previous survey Vancouver ranked 37th worldwide.
Asian and European cities continued to dominate the top 20 as Asian cities claimed 11 of the world’s 20 most expensive cities. Europe had 8 cities make the top 20.
The Worldwide Cost of Living survey is released twice a year by the EIU and compares hundreds of prices across 160 products and services, including items such as food, drink, rentals, utility bills, schooling costs and household supplies.
Top 10 most expensive cities in the world
1. Tokyo, Japan (+1 place)
2. Osaka, Japan (+1)
3. Sydney, Australia (+4)
4. Oslo, Norway (+1)
4. Melbourne, Australia (+4)
6. Singapore (+3)
7. Zurich, Switzerland (-6)
8. Paris, France (-2)
9. Caracas, Venezuela (+25)
10. Geneva, Switzerland (-7)
Top 10 least expensive cities in the world
1. Karachi, Pakistan
1. Mumbai, India
3. New Delhi, India
4. Kathmandu, Nepal
5. Algiers, Algeria
5. Bucharest, Romania
7. Colombo, Sri Lanka
8. Panama City, Panama
9. Jeddah, Saudi Arabia
10. Tehran, Iran
Open Houses!!! Come by!!! Questions..
Feel free to contact me @ 604-218-4846
Saturday, February 9th
11am to 130pm
#36-9000 Ash Grove, Burnaby BC 1410 sqft
3 Bedrooms and 2.5 Bathrooms $434,900
Sunday, February 10
11am to 130pm
#900-9 Smithe Mews, Vancouver BC 2081 sqft
3 Bedrooms and 3 Bathrooms $1,899,900
Sunday, February 10
2pm to 4pm
#201-1010 Beach Ave, Vancouver BC 1917 sqft
2 Bedrooms and 2 Bathrooms $1,899,900
#36-9000 Ash Grove, Burnaby BC
#900-9 Smithe Mews, Vancouver BC
#201-1010 Beach Ave, Vancouver BC
Mount Pleasant is one of the few neighbourhoods in Vancouver that span the city’s east-west divide. That’s why Mount Pleasant house prices range from less than $800,000 east of Main Street to almost $1.3 million closer to Cambie Street.
In recent years Mount Pleasant gentrified, especially in its SoMa (South Main) district. The area was once a hangout for artsy types, but now many first-time homeowners, including young professionals, couples and families, are heading to Mount Pleasant to buy their first house or condo and take advantage of the area’s laid-back lifestyle.
Mount Pleasant is also home to several important city landmarks. Vancouver City Hall dominates the corner of Cambie Street and 12th Avenue; Heritage Hall — opened in 1915 as a post office — sits at Main Street and 15th Avenue and serves as a community meeting place; and, at the heart of the neighbourhood stands the former Evangelistic Tabernacle, which was converted into private condominiums in the 1990s.
Check out this video on Mount Pleasant by the Vancouver Courier
South Main (SoMa) shopping is a Mount Pleasant must. The area between 2nd avenue and 28th avenue is bustling with independent retailers, local fashion designers and some of the best vintage clothing and furniture stores in the city. A large MarketPlace IGA grocery store, Tisol Pet Nutrition & Supply store and Brewery Creek Liquor Store are all located between 14th and 15th avenues on Main Street.
Elementary schools
Most food in Mount Pleasant can be found along Main Street, which is the commercial centre of the neighbourhood and is packed with artisan coffee shops, mom-and-pop diners, lively bars and cozy pubs, not to mention a cornucopia of multi-ethnic restaurants.
Eleven public green spaces dot the neighbourhood of Mount Pleasant. Residents enjoy the skateboard ramps at China Creek South Park, tennis courts at Guelph Park, the community garden at Sahalli Park and the fenced off-leash dog area at the Southeast False Creek park site.
Mount Pleasant also boasts a new multi-service civic centre that includes, along with Mount Pleasant Community Centre, virtually everything under one roof: climbing wall, fitness centre, dance studio, public library, child development centre, café and market-value rental housing.
Located in the southeast portion of Vancouver between Cambie Street to the west and Clark Drive to the east, 2nd Avenue to the north and 16th Avenue and Kingsway to the south, Mount Pleasant provides quick access to the city’s downtown core along several main thoroughfares. It also features multiple SkyTrain rapid-transit stations along Cambie.
| Home prices* | |
| Houses | $1,018,000 |
| Townhouses | $637,500 |
| Apartments | $453,000 |
| Rentals** | |
| Average gross rent | $772 |
*Source: Real Estate Board of Greater Vancouver, average sale prices in Fairview, False Creek, Mount Pleasant West/Grandview, Mount Pleasant East for 12 months ended November 3, 2010
**Source: Statistics Canada, Census 2006
Population* – 23,615
*Source: Statistics Canada, Census 2006
| Age* | |
| 65+ | 8.2% |
| 40 to 64 | 33.4% |
| 20 to 39 | 44.8% |
| 19 and under | 13.7% |
*Source: Statistics Canada, Census 2006
| Occupancy* | |
| Fully owned | 12,790 |
*Source: Statistics Canada, Census 2006
| Dwellings* | |
| Single-detached house | 3.8% |
| Semi-detached house | 2.2% |
| Detached duplex | 9.2% |
| Row house | 1.4% |
| Apartment, under five stories | 74.4% |
| Apartment, five or more stories | 8.9% |
| Rented dwellings | 67.2% |
*Source: Statistics Canada, Census 2006
There are more than 20,000 homes for sale in the Lower Mainland, so making your home stand out for potential buyers is vital. It is especially true in today’s buyer’s market.
First, work with your Realtor to get the maximum exposure for the home. Then prep both yourself and your home for sale day.
Say to yourself, “This is not my home; it is a house—a product to be sold.” Make the mental decision to let go of your emotions and focus on the fact that soon this house will no longer be yours. Picture yourself handing over the keys and envelopes containing appliance warranties to the new owners.
Say goodbye to every room. Don’t look backwards—look toward the future. All sellers want their home to sell fast and bring top dollar. Well, it’s not luck that makes that happen. It’s careful planning and knowing how to professionally spruce up your home. Here is how to prep a house and turn it into an irresistible and marketable home.
Dawna Johnson, an Accredited Staging Professional Master (ASP) says the idea behind staging is to allow rooms to show themselves.Think clean and simple: when prepping a home for sale, get rid of clutter, clean and, if necessary, stage rooms with rented artwork, flowers.
“If your home is vacant, it’s soulless,” Dawna warns. “Without staging, it will probably remain on the market for many months.” She has this practical advice for making a home sparkle:
Dawna believes in bringing the outdoors inside through the use of greenery and plants, creating clean, crisp spaces and arranging furniture with plenty of room to walk around.
She says bathrooms are essential to dress well. “Bathrooms should look open, airy and delightful,” says Dawna. One of her favourite tricks is to add baskets filled with spa items such as small towels tied with ribbon, bottles of lotion and scented soaps.
The front and back yards often need staging, too. For patios and decks, Dawna brings in plants and potted flowers and makes sure decks are clean and clutter free. Your Realtor has been through many open houses and will be able to provide other tips on getting your home sale-day ready.
Multiple Listing Service® (MLS®) residential sales in British Columbia are forecast to increase 5.6 per cent to 71,450 units in 2013. While a modest increase in unit sales is expected, home sales this year will fall below both the five-year average of 74,600 units and the ten-year average of 86,800 units. After declining nearly 23 per cent in 2012, homes sales in Vancouver are forecast to claw back nearly 10 per cent this year. Improved economic conditions in 2014 are expected to keep housing demand trending higher, with MLS® residential sales forecast to climb a further 6.1 per cent to 75,830 units.
Headwinds in the global economy continue to constrain growth in British Columbia. The US has yet to generate enough employment to take a serious bite out of their jobless rate, while early signs of burgeoning domestic demand in China weren’t enough to keep economic growth from slipping to a ten-year low in 2012.
However, with a stronger global economy expected next year, 2013 is shaping up to be a transition year. Indeed, the groundwork has already begun for stronger housing demand as a significant number of part-time jobs in BC were converted into full-time employment last year.
Residential values are expected to be on a more solid footing in 2013 as lower prices, both actual and inflation adjusted, have improved affordability. In addition, many potential buyers that stayed on the sidelines in 2012 will likely enter the marketplace over the next year as the relatively strong financial condition of BC households precludes any deflationary spiral. The average MLS® residential price in BC is forecast to edge down nearly 1 per cent to $510,400 this year and remain relatively unchanged in 2014, albeit up 0.6 per cent to $513,500.
BC housing starts are forecast to edge back 3.5 per cent to 26,500 units this year, after remaining unchanged in 2012. A spillover effect of more subdued consumer demand last year will keep home builders from adding too much supply to the market. In addition, the transition from the Harmonized Sales Tax (HST) back to the Provincial Sales Tax (PST) may add a short term boost to new home sales this spring. A modest 1.5 per cent increase in housing starts to 26,900 units is forecast for 2014, keeping new additions to the housing stock in line with household growth.
RE/MAX interviewed over 1,100 Canadians who intend to buy a home in the coming 24 month for its Canadian Homebuying Trends Report. It covers all of Canada, but also breaks home buying trends down by province. So here’s a look at who’s buying a home in BC, what they’re looking for and how much they want to spend.
One standout impression comes from the stats on who’s buying. It looks like multi-time buyers are in the driver’s seat, i.e., investors or people who are onto their third or fourth home. Canadian Real Estate Wealth magazine quotes Elton Ash, Regional Executive VP of RE/MAX Western Canada: “”Between 2009 and 2011, first-time buyers were the engine driving housing activity, taking advantage of favourable conditions and a recovering economy. That changed in 2012, and even earlier in B.C., as prices reached a breaking point.”
Click on the infographic to see a full-sized version.
The Bank of Canada surprised most analysts Wednesday by cutting Canada’s 2013 growth estimate (to 2.0%) and calling the timing of the next interest rate hike “less imminent than previously anticipated.”
The BoC has used the “less imminent” wording before, but not in any recent rate decision statements. It attributed its position, in part, to “more muted inflation” and cooling household debt levels.
The decision leaves Canada’s prime rate stuck at 3.00% for the 27th straight month—to the delight of most variable-rate mortgage holders.
These were some highlights from the announcement:
The benchmark 5-year bond, which is closely correlated with fixed mortgage rates, fell 5 bps to 1.41% on the Bank’s decision.
Economists will now likely revise their rate hike calls (which have proven hopelessly non-predictive) to late 2013 or early 2014.
The next Bank of Canada Rate meeting is six weeks away on March 6.
One interesting side note: The Bank added that household debt growth has eased to just 3%. That’s the weakest annualized rate since 1999 and it reflects “a slowdown in the growth of both residential mortgage and consumer credit.”
Canadians are both voluntarily heeding government debt warnings and being forced to heed them through stricter lending rules.
The way the year ended, Realtors may just as well have closed shop on November 30th and started their Hawaii vacation early. December MLS® condo sales were at or close to record lows, which had many pundits (mostly in Eastern Canada) proclaiming that the Coast was toast.
Although the outlook for MLS condo sales over the next 12 months is not good, it’s not “that” bad. (see: 2013 MLS Condo Market Forecast)
The worst-hit markets are the ones that previously attracted the most offshore (aka Chinese) buyers and investors. Downtown Vancouver high-rise sales are taking a big hit. Westside high-rise sales and prices are both down. Richmond high-rise sales have cratered. But despite the downward sales trend in most markets, selling prices are either holding steady or showing only a modest downward trend.
The next three to four months will set the pace for the condo market in 2013. These are typically the best months for condo sales. The return to the PST/GST tax on April 1st may help sales but what would be more helpful is a reversal of the population loss to other provinces and an increase in international migration. Third quarter 2012 figures show that BC had a net loss 6,423 persons to other provinces for the first nine months of 2012 and a net gain of 35,255 persons from international migration. Total net migration to BC in 2012 will likely be close to 30,000 persons which is down by about 5,000 from 2011 and about half the total net migration in 2009.
High-rise MLS condo sales – Strategics Vancouver Condo Report
The 150 or so MLS high-rise sales in December brought the year’s total to just over 3,530 units, or 21% below total MLS high-rise sales in 2011. The average MLS high-rise selling price in December was $521,000 or $547 per square foot. This was up by 2% from December 2011, but the overall average selling price in 2012 was down by 4% from 2011.
As reported by the real estate board, more sellers have pulled their units off the market over the past few months. Total listings are down but given the drop in sales, the MLS high-rise market still had about 46 weeks worth of active listings at the end of December. Perhaps sellers who pulled their units are hoping for better prices, but over the last quarter of 2012 sellers had to drop their asking prices by an average of 6% or almost $40,000, and this is likely to continue.
Of the approximately 2,220 high-rise condos listed on MLS at the end of December, just over 800 were either under construction or vacant. These sellers most likely don’t have the option of pulling their units off the market and will have to ride this market to wherever it takes them. A comparison of list prices for under-construction units and a price estimate based on the Premium Condo Price Calculator indicates that many have already been substantially discounted. (For specific high rise markets in Greater Vancouver and the Fraser Valley see: Detailed Market Trends)
Low-rise MLS condo sales – Strategics Vancouver Condo Report
MLS low-rise sales were also down in December. The 190 sales brought total sales for the year to 4,070 units; down by 18% from total sales in 2011. The average MLS selling price for low-rise condos in December was $316,000 or $352 per square foot. The overall average selling price in 2012 was 3% lower than the average price in 2011. The average difference between list and selling price is now 6%, which suggests that 2013 prices will drop even further in 2013.
At the end of December, the Greater Vancouver MLS market had approximately 3,200 active low-rise listings; enough to supply the market for 55 weeks given the way sales have gone. About 1,250 or 40% of the active low-rise listings are either under construction or vacant. (For specific low rise markets in Greater Vancouver and the Fraser Valley see: Detailed Market Trends)
Townhouse MLS sales – from Strategics Vancouver Condo Report
The 155 MLS townhouse sales in December, a new low for the past four years, brought the year’s total to 2,640 units. YTD townhouse sales were down by 17% compared to 2011. The average MLS selling price in December was $427,000 or $278 per square foot. The overall average selling price for townhomes in 2012 was down by 5% from 2011. Over the past three months, the average selling price for townhouse condos has been 5% below the list price suggesting that further price cutting will be the norm for 2013.
The number of active townhouse listings in December was just over 2,400 units; enough to supply the market for the next 49 weeks if sales continue to follow the present trend. About 35% of these active listings are either vacant or under construction. (For specific townhouse markets in Greater Vancouver and the Fraser Valley see: Detailed
If you have any Questions please contact Carmen Leal @ 604-218-4846
Open House:
Saturday January 19th, 2013 11am to 130pm
@ #9-900 Smithe Mews 3bd 3bth 2081 sqft
$1,899,900
Saturday January 19th, 2013 2pm to 4pm
@ #2002-1028 Barclay St. 2bd 2bth 1057 sqft
$848,000
After the HST end date, those who buy a home built before April 1, 2013,
will pay a two per cent transition tax on the full house price, he said.
B.C. home builders and renovators expect business will pick up
after the HST disappears in 2013.
New rules could mean good news for the home renovation business.
PST-GST system now coming into play may have those people that
were sitting on the fence before all of a sudden start thinking seriously
about that renovation again.
Business will pick up during the transitional year, but the real push will
come when the HST actually disappears as of April 1, 2013.
This will spark the economy because construction is — and home
renovation and new home construction — is one of the biggest drivers
in the economy.
Please copy and past video to web browser.
http://www.cbc.ca/player/Embedded-Only/News/BC/ID/2198518737/
Give me a call with more details.
Carmen Leal Direct Line: 604-218-4846
http://www.rew.ca/news/how-to-appeal-your-bc-assessment#.UPhZgJOrQiQ.facebook
If you have any questions please give me a call at 604-218-4846
Carmen Leal
RE/MAX Crest Realty Westside
Website: www.carmenleal.ca
Email: carmen@carmenleal.ca
Direct Number: 604-218-4846
Open House this weekend Sat and Sun 2 to 4pm
1 bedroom and 1 bathroom 750sqft for $388,000
@ #306-511 W 7th Avenue Vancouver, BC
Open Houses:
Saturday January 5, 2013 & Sunday January 6, 2013
1130 to 1pm @ 1060 Cardero Street 3 Bedrooms and 2 Bathrooms 1,088 sqft Priced at $749,000
2 to 4pm @ 4722 Medfield Place 4 Bedrooms and 4 Bathrooms 4110 sqft Priced at $2,949,900
1060 Cardero
4722 Medfield Place
Ten Steps to Buying Your Home
Why Use a Realtor?
In dealing with buying your own home it is important to consider the following:
Read on, and find out about the steps involved in buying a home and how I can help you with this process.
1) Determining Location & Type - The first step involves taking your dreams (and a good dosage of reality) and deciding the location, size, and type of home you want and need.
2) Finding a Real Estate Agent - Buying a home is one of the largest financial investments you will be making, so it is important that you have a real estate professional working for you. When you buy a home you will be entering into a legally binding contract, and a Realtor is professionally trained to create this contract for you, and ensure that your interests are protected. Look for someone who will be comfortable working with, who will answer your questions and help you find a property that meets for specifications.
3) Getting Pre-qualified - It is also important at the beginning of the process that you evaluate what price range you can afford and determine the amount of financing you will require. I can help you with this process by getting some basic information about your income, debts and credit. Finding out how much of a loan you qualify for will also help in determining the type of property to look for. Some lenders will pre-qualify you and guarantee a rate and terms for a set period of time - a great idea to do when rates are on the rise.
4) House Hunting - This is where the fun begins! However, you might find that your initial optimism of finding the right place quickly fading if you do not have access to all of the available information about the current market. Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by Myself to find all available properties.
5) Selecting Your Home - Your main job in this whole process is to make the final selection of the right property for you. Emotions run high during this time, and your Realtor can offer you informed objective information about the properties that you are considering. Your Realtor spends their day dealing with all aspects of property and their advice can be invaluable. For instance, information concerning zoning, schools, and the local community can help in your decision making process.
6) Finding a Lawyer/ Notary - It is also important to find a Lawyer or Notary to help in the closing and conveyance of the property. Having a professional lined up ahead of time will help in making the buying process as smooth as possible. I can recommend several Lawyers or Notaries to use.
7) Making an Offer & Negotiating the Deal - Once you have found the right home now is the time to make an Offer to Purchase. There are many aspects involved in making your offer including, but not limited to price, financing, terms, possession date, inclusion and/or exclusion of repairs and fixtures or equipment. You will also want to provide a period of time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase.
8) Professional Inspection - Once you have negotiated an agreement it is time to complete the evaluation of the property. Depending on the area and property, this could include inspections for leaks, dry rot, asbestos, faulty structure, roof condition, heating systems, oil tanks... just to name a few. I can assist you in finding qualified responsible professionals to do most of these investigations and provide you with written reports. You will also want to see a preliminary report on the title of the property, which your I can provide. The title indicates ownership of property and can be mired in confusing status of past owners or rights of access. The title to most properties will have some limitations; for example, easements (access rights) for utilities.
9) Setting up Your Mortgage - If you have already pre-qualified with a lender for a mortgage the step will be fairly painless! Remember mortgage interest rates, fees and other terms vary widely and are often open for negotiation. Research what is available by calling several mortgage lenders or using the Internet. I can help you in finding the appropriate lender.
10) Closing - The last step is the closing. Closing involves:
10 steps for selling your home
