Vancouver Sun October 30, 2010

Vancouver
34 East 18th Avenue

Type: detached, 6 bed, 2 bath
Size: 2,098 sq. ft.
B.C. Assessment: $783,300
Listed for: $1.038 million
Sold for: $1.055 million
Sold on: Aug 24
Days on market: 10
Listing agent: Mario Felicella at Sutton Group – West Coast Realty
Buyers agent: Clair Rockel at Macdonald Realty Ltd.

The big sell: Buyers can be divided into two camps: those who want a project to renovate and those who simply want to move in. This house in Vancouver’s Riley Park neighbourhood would hold tremendous appeal for the latter. Built in 1927, it has been extensively remodelled without losing original character. Essential updates to the roof, furnace, hot water tank and electrics have been undertaken. The home has a self-contained two-bedroom suite downstairs, a large open-plan layout on the main floor, with fir floors, stained glass windows, custom cabinets and stainless steel appliances including a commercial-style gas stove. The southern-exposed garden is well-established with fruit trees.

Burnaby
413 – 9150 University High Street

Type: attached, 3 bed, 3 bath
Size: 1,221 sq. ft.
B.C. Assessment: $N/A
Listed for: $514,000
Sold for: $514,000
Sold on: Aug 20
Days on market: 1
Listing agent: Howard Steiss at Red Dot Real Estate Marketing Ltd.
Buyers agent: Howard Steiss at Red Dot Real Estate Marketing Ltd.

The big sell: This apartment is located in the Origin new-home project scheduled for completion in March 2012. Origin is located on Simon Fraser University’s Burnaby Mountain campus. This suite has in-floor radiant heating, a mix of laminate flooring, carpet and porcelain tile, polished quartz kitchen countertops, Greenlam cabinetry, deep soaker tubs, a walk-in closet off the master bedroom, and two decks. Meeting the neighbours is easy: there will be a large social suite, a handy workshop and all the fitness facilities of SFU, plus myriad walking, hiking and biking trails.

Vancouver
104 – 2137 West 10th Avenue

Type: attached, 1 bed, 1 bath
Size: 669 sq. ft.
B.C. Assessment: $425,000
Listed for: $439,000
Sold for: $429,000
Sold on: Aug 10
Days on market: 49
Listing agent: Lailey Wallace at One Percent Realty Ltd.
Buyers agent: Lailey Wallace at One Percent Realty Ltd.

The big sell: This townhouse is a bright address with a southfacing courtyard. The interior is impressive and benefits from some striking upgrades: African Sepeli hardwood floors that flow throughout the property, a central kitchen island with an oak butcher block and granite countertops, an electric fireplace and double sinks in both the kitchen and bathroom. It comes with parking and storage and rentals and pets are allowed. Adera built the building in 2004 so some of the 2-5-10 warranty is still in place.

Powell River
105 – 4580 Joyce Avenue

Type: attached, 2 bed, 1 bath
Size: 1,130 sq. ft.
B.C. Assessment: $172,000
Listed for: $179,900
Sold for: $172,000
Sold on: Aug 31
Days on market: 91
Listing agent: Paige Anderson at Coast Realty Group (Powell River) Ltd.
Buyers agent: Dawn Adaszynksi at Coast Realty Group (Powell River) Ltd.

The big sell: Listing agent Anderson represented this apartment as “the perfect home for people who love to get out of town — no lawn to mow or weeds to pull!” It is in Powell River’s downtown, with conveniences on its doorstep. The home is a ground-level, wheelchair-friendly home, which has been freshly painted, with a new kitchen countertop and sink. Recent laminate flooring adds to the appeal, as does the roomy closet off the master bedroom, a spacious bathroom with a separate tub and shower, extra storage in the ensuite laundry room, and outdoor parking with space for RVs.

Vancouver Sun October 23, 2010

Vancouver
4539 Angus Drive

Type: 4-bedroom, 4-bathroom detached
Size: 4,803 sq. ft.
B.C. Assessment, July 2010: $2.491 million
Listed for: $3.38 million
Sold for: $3.28 million
Sold on: Aug 12
Days on market: 38
Listing agent: Greg Carros at Sotheby’s International Realty Canada
Buyer’s agent: Carole Yang at Sutton Group — West Coast Realty

The big sell: Size counts in real estate: This substantial home fits seamlessly into its 80-by-140-foot lot on Angus Drive, one of Vancouver’s premier residential roads. It was completely rebuilt 25 years ago in keeping with the original design, and with sensitivity to the neighbourhood. The home comprises three levels with a floor plan that takes advantage of natural light from the westerly exposure. All the principal reception rooms are spacious, including an entertainment-sized kitchen, living and dining rooms, and a garden level with a walk-in closet, laundry room and a 17-by-26-foot recreation room, perfect for further development. The landscaped garden features plenty of deck areas and a three-car garage.

Vancouver
703 – 1263 Barclay

Type: 2-bedroom, 2-bathroom apartment
Size: 930 sq. ft.
B.C. Assessment, July 2010: $561,000
Listed for: $549,000
Sold for: $532,000
Sold on: Aug 6
Days on market: 22
Listing agent: Aki Li Foster at Macdonald Realty Ltd.
Buyer’s agent: Lesley Hick at Dexter Associates Realty

The big sell: According to listing agent Aki Foster, one of the main draws of this two-bedroom top-floor unit in the rainscreened Westport Terrace building was the 400-square-foot balcony, which could serve as an outdoor dining area or provide a place for plants. The apartment is in its original 1989 condition, but prospective purchasers were not deterred by the renovations that need to be done, as the attractive layout features high ceilings and plenty of light-filled rooms. The home is in the heart of the West End, and is blocks to shopping and transit and a 10-minute walk to downtown, Stanley Park and English Bay.

BURNABY
313 – 6893 Prenter

Type: 2-bedroom, 2-bathroom apartment
Size: 795 sq. ft.
B.C. Assessment, July 2010: $274,000
Listed for: $304,900 Sold for: $294,000
Sold on: Aug 14
Days on market: 23
Listing agent: Tom Everitt at ThinkTom.com Realty
Buyer’s agent: Brian Vidas at Sutton Centre Realty

The big sell: This two-bedroom apartment in South Burnaby had several key features that set it apart from other units. The outlook from the covered balcony faces a serene greenbelt area, and the two bedrooms are on opposing sides of the property. The kitchen and living areas are painted in contemporary colours. The home also has an in-suite laundry room and a natural gas fireplace. The unit was unoccupied for the showings, which often can be a disadvantage as prospective buyers struggle to see how furniture can be arranged, but in this case, it enhanced the sleek lines and flow of the property.

Kelowna
2142 Breckenridge Court

Type: 3-bedroom, 5-bathroom detached
Size: 6,073 sq. ft.
B.C. Assessment, July 2010: $1.817 million
Listed for: $1.795 million
Sold for: $1.735 million
Sold on: Aug 30
Days on market: 53
Listing agent: Krista Suchar at MacDonald Realty Kelowna
Buyer’s agent: Hermann Riepl at Century 21 Executives Realty Ltd.

The big sell: This property is at the top of its game. Built by SanMarc Custom Homes on over half an acre, it provides panoramic city, lake and mountain views from expansive windows and decks, and offers meticulous attention to detail. The master bedroom suite is far from typical, featuring a fireplace, wet bar, six-piece spa-style ensuite, dressing room, gym, and hot tub on the adjoining deck. The professional kitchen has Sub-Zero, Miele and Dacor appliances. In addition, the home has bespoke cabinetry, five fireplaces, surround sound, sensor awnings, a seven-car garage, and a 4,000-bottle wine cellar.

Read more: Recent real estate sales in Vancouver, Burnaby and Kelowna

Canada is seen as a “rebound” economy but overall prospects for the global real estate sector are looking “dismal,” with a downturn that could last eight years, the International Monetary Fund warned recently.

The IMF sees problems both in the “bust” countries, such as the United States, Spain and Ireland, and the “rebound” economies, such as the Asia-Pacific region, most Scandinavian countries and Canada.

In the US, residential investment remains severely depressed compared with past cycles, which the report said could be partly explained by the pattern in house prices and outstanding household debt. Making matters worse, the U.S. states where the house price bust was more pronounced are also where unemployment has increased the most.

“This relationship likely reflects the importance of the construction sector in these states’ economies as well as lower labour mobility resulting from problems in the housing sector,” the IMF said. Tax incentives in both the U.S. and the U.K. only temporarily increased activity.

“Especially in the United States, given the limited success of mortgage modification programs and the shadow inventory from foreclosures and delinquencies, this has renewed fears of a double dip in real estate markets. A lot will depend on the path of economic recovery: if employment creation remains low, risks of a double dip in housing naturally increase,” the IMF said.

There are other threats too, like record high delinquency rates on commercial mortgage-backed securities, and the $566 billion in commercial real estate debt due this year and next, according to data the IMF cited from Foresight Analytics.

Resets on adjustable-rate loans are looming, with limited refinance options because many of the loans are underwater.

Renewed strains on credit conditions may materialize from loan losses due to delinquencies and tougher capital rules, the IMF added.

In Asia, the IMF frets that even though fundamentals appear to provide support for price increases, the econometric estimates are less reliable given their short track record, and anecdotal evidence of speculative activity, rising vacancy rates in commercial property, sizable mortgage credit growth, and massive capital inflows could be signs of overheating – particularly in Beijing, Nanjing, Shanghai and Shenzhen in China.

For more on this topic, please see global house prices.

Vancouver Sun October 16, 2010

Vancouver
196 West 23rd Avenue

Type: 3-bedroom, 2-bathroom, detached
Size: 2,494 sq. ft.
B.C. Assessment: $1.1349 million
Listed for: $1.39 million
Sold for: $1.35 million
Sold on: July 31
Days on market: 6
Listing agent: Linda Hale and Elizabeth Campbell Wride at Dexter Associates Realty
Buyers agent: Ryan Taylor at RE/MAX Real Estate Services

The big sell: This character house received multiple offers and sold in just six days, circumstances that suggest reports of a slowdown in sales recently have to be circulated and heard cautiously. It is not hard to see why this home’s time on market was so short: This 1929 home has an expansive 46-by-148-foot corner lot, large principal rooms, oak hardwood floors, top floor bedrooms with walk-in closets, a basement with a recreation room and a southfacing back porch overlooking a vegetable patch and garage. Situated in the popular, family-oriented Riley Park neighbourhood, this property will be a prime candidate for a renovation or a new-build.

Burnaby
4192 Price Crescent

Type: 4-bedroom, 2-bathroom, detached
Size: 2,353 sq. ft.
B.C. Assessment: $602,900
Listed for: $680,000
Sold for: $710,000
Sold on: July 27
Days on market: 8
Listing agent: Tony Eng at Park Georgia Realty Ltd.
Buyers agent: Tony Eng at Park Georgia Realty Ltd.

The big sell: Another home that’s defying trends, this bungalow in South Burnaby Garden Village in original condition sold for $30,000 over the asking price in eight days. It benefits from being on the higher side of the street, and has mountain views. The property has a large lot, with a 60-foot frontage, and a southfacing private rear garden with fencing and lane access to an open double carport with a storage room. The basement has high ceilings and is partly finished with a bedroom, utility room and recreational space, and has a convenient separate entrance. Burnaby’s ratio of park and to residents is one of the highest in North America, and Garden Village carries on this tradition with the newly constructed George McLean Park.

Vancouver
1502 – 1199 Marinaside Crescent

Type: 2-bedroom, 2-bathroom apartment
Size: 1,310 sq. ft.
B.C. Assessment: $863,000
Listed for: $1.12 million
Sold for: $1.075 million
Sold on: July 24
Days on market: 75
Listing agent: Artem August at Sutton Group — West Coast Realty
Buyers agent: Ryan Hawk at TRG — The Residential Group Realty

The big sell: This is an apartment worthy of its unobstructed southfacing views overlooking Quayside Marina. Situated in one of the most desirable neighbourhoods in downtown Vancouver, Concord Pacific’s Aquarius One building boasts a state-of-the-art fitness facility, an indoor swimming pool, hot tub and sauna. It is just steps from the seawall, Urban Fare, and the cafes and restaurants that line Marinaside Crescent. The suite is an end unit with hardwood flooring, a kitchen with dark granite countertops and designer cabinetry, two good-sized bedrooms, a den, a solarium and a balcony large enough to accommodate a table and chairs.

Kelowna
607 – 3000 Pandosy Street

Type: 1-bedroom, 1-bathroom apartment
Size: 767 sq. ft.
Listed for: $481,000
Sold for: $481,000
Sold on: Aug. 5
Days on market: 247
Listing agent: Michele Wangler at SOPA Square Discovery Centre
Buyers agent: Michele Wangler at SOPA Square Discovery Centre

The big sell: With an anticipated completion date of spring 2013, construction on Kelowna’s SOPA Square development is underway. Situated in the South Pandosy area and overlooking Lake Okanagan, the project is targeting a gold rating through its LEED certification and its heavy emphasis on sustainability. The development will house retail stores, restaurants and cafes on the street level, with townhouses and tower residences above. The demographic of the buyers so far? According to SOPA Square, baby boomers are snapping up the larger homes, with single professionals and retirees taking the smaller one-bedroom units.

Read more: Recent real estate sales in Vancouver, Burnaby and Kelowna

Canadian sales of existing homes in September rose from August, edging up for a second straight month, the Canadian Real Estate Association said today. The industry group said a total of 33,913 homes changed hands in September, up 3 percent from August to reach its highest level since May. However, compared to a year ago, sales were down 20.1 percent.

The average price of a home sold in Canada in September dipped 0.2 percent from a year ago to C$331,089 from C$331,683.

The number of new listings rose 0.7 percent from the previous month.

“Supply and demand are rebalancing, and that’s keeping prices steady in many markets,” CREA president George Pahud said.

The number of months of inventory represents the period it would take to sell current inventories at the current rate of sales activity, and measures the balance between housing supply and demand. The seasonally adjusted number of months of inventory stood at 6.6 months at the end of September on a national basis. This is down from 6.9 months in August, and 7.2 months in July.

“Mortgage lending rates eased in the third quarter, which helped support sales activity over the past couple of months,” CREA’s chief economist Gregory Klump said.

Many economists disagree with a recent report by the Canadian Centre for Policy Alternatives (CCPA) entitled ‘Canada’s Housing Bubble: An accident waiting to happen’.

It states that Edmonton, Montreal and Vancouver’s housing markets are those most at risk of a housing crash. In the worst of three scenarios, David Macdonald, the author of the CCPA report, says Edmonton house values would drop by 39 per cent in less than three years, while Montreal and Calgary would suffer losses of 30 per cent. Vancouver prices would also drop by 30 per cent (“a gut-wrenching $66,000 a year loss in property value over almost three years”), while Toronto values would drop by 20 per cent and Ottawa’s by 14 per cent.

“I think Canadians have come to expect that their houses will increase in value by five per cent to 10 per cent a year and the truth is, like the U.S., that kind of return on investment simply can’t continue indefinitely,” says Macdonald. “Record-low mortgage rates and deregulation of the Canadian housing market means that housing prices are getting far outside of their historical ‘comfort zone’. My concern is that when we get outside of that zone, housing prices become much more volatile and can be affected quite dramatically by changes in mortgage rates.”

However, will Canada’s economic stability be sufficient to avoid a downturn like that seen in the United States? Mario Lefebvre of the Conference Board of Canada is one of many economists who disagree with Macdonald’s view.

“Let’s put things in perspective: the Canadian housing market has generally been booming for about a decade now (except for a slowdown during the recession), and the Conference Board of Canada has long claimed … the market would have to come back to more normal levels of activity,” says Lefebvre. “This is what’s happening right now. It has to be stressed that 24 of 48 markets are currently showing a balanced stance in their existing home markets, a sign that the recent large declines in sales have more to do with a return to more normal levels of activity than the start of a steep downturn.”

Lefebvre says, “We are not the U.S. The house price bubble in the United States came about due to elements that have less to do with economic fundamentals than with U.S.-specific laws…If anything, Canada will see a pause in home price growth with possible marginal declines in a few markets, but nothing near what the United States has been through.”

Another factor that is cited in the argument that Canada will avoid a crash, is that most Canadian homeowners can afford their mortgages in the long run even if there is an increase in interest rates. It is generally accepted that there will be a decline in house values across the board by about 10 – 15 per cent but that should just return levels to those seen in 2007.

BMO Capital Market’s Sal Guatieri said that in the decade before the U.S. crash, prices in that country rose by “an eye-popping 193 per cent, almost twice as fast as Canadian prices.”

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Vancouver Sun October 9, 2010

Vancouver
2107 – 928 Beatty Street

Type: One-bedroom, one-bathroom apartment
Size: 615 sq. ft.
BC Assessment: $361,000
Listed for: $397,700
Sold for: $385,000
Sold on: July 17
Days on market: 39
Listing agent: Linda Hale at Dexter Associates Realty
Buyers agent: Winnie Pak at RE/MAX All Points Realty

The big sell: Enjoy a bird’s-eye view of BC Place, together with water views, from this condo in The Max 1 that has one bedroom and a den. Built in 2005 by Concord Pacific, the building has a comprehensive list of amenities, including 24-hour concierge, a billiards room, party room and theatre. For fitness enthusiasts, there is an indoor swimming pool, fully equipped gym, sauna/steam room and hot tub. A bonus for owners: pets are welcome and so are rentals. This unit is open and bright with a mix of laminate wood flooring and tile, a European-style kitchen with granite countertops, contemporary cabinets with frosted glass doors, a breakfast bar and that cook’s delight – a gas stove. There is good size in-suite storage, an open balcony, parking and an additional storage locker. A great downtown location within walking distance to the library, seawall, SkyTrain, shopping and restaurants.

Langley
#301-5438 198 Street

Type: Two-bedroom, one-bathroom apartment
Size: 830 sq. ft.
B.C. Assessment: $212,800
Listed for: $225,000
Sold for: $223,000
Sold on: July 29
Days on market: 89
Listing agent: Cindy Wilson at RE/MAX Treeland Realty
Buyers agent: Steve Karrasch at Macdonald Realty Olympic

The big sell: This bright corner condo has an open-plan design and room dimensions similar to some detached homes, with a 16-by-10-foot living room, a kitchen and eating area totalling 20 by 18 feet, and an ample master bedroom. The kitchen has a double sink, granite countertops, stainless steel appliances, a pantry, a window box and pendant lighting. The unit is situated in the Creekside development, a four-storey building with an attractive stone exterior and a peaked roof over the entrance way. It comes with an electric fireplace, walk-in closet, laundry room, covered parking, balcony and views over the garden, and it is still under the warranty program. The complex overlooks green space and Brydon Creek, and is within walking distance to schools and shopping.

Vancouver
105 — 2161 West 12th Avenue

Type: 3-bedroom, 2-bathroom apartment
Size: 1,151 sq. ft.
B.C. Assessment: $641,000
Listed for: $738,000
Sold for: $738,000
Sold on: Aug 6
Days on market: 54
Listing agent: Lester Soo and Henry Fung at Sutton Group – West Coast Realty
Buyers agent: Irene Mandzuk at Royal LePage Northshore

The big sell: This garden level suite is in The Carlings in Kitsilano’s Arbutus Walk neighbourhood features a rare commodity – three bedrooms. It faces northeast on to quiet Salal Drive and is surrounded by lush greenery for complete privacy. The unit was completely renovated in 2009 with finishings that include Italian floor-to-ceiling tile, marble countertops, Philippe Starck toilets, Kallista sinks, Hansgrohe faucets, an ASKO dishwasher and an Elica range hood. There are “his and hers” closets in the master bedroom and espresso-coloured Teragren bamboo flooring throughout. There is enough room for separate living and dining rooms, but if you are thinking that space must be compromised, consider that the sellers fit a baby grand piano in one of the reception rooms.

Bowen Island
871 Valhalla Place

Type: 4-bedroom, 4-bathroom detached
Size: 2,972 sq. ft.
B.C. Assessment, July 2010: $811,000
Listed for: $899,000
Sold for: $875,000
Sold on: Aug 11
Days on market: 16
Listing agent: David Riddell at Angell Hasman & Associates Realty
Buyers agent: David Riddell at Angell Hasman & Associates Realty

The big sell: Living up to its meaning as a heavenly destination, this custom-built, three-level residence is in the Valhalla district of Bowen Island. A true view property, its outlooks include the ocean, mountains, West Vancouver and UBC. The top floor features open-plan reception rooms, and the living, dining and kitchen have vaulted ceilings. The middle floor contains three bedrooms, including a large master suite with a walk-in closet, ensuite bathroom and two decks. The lowest level has a sizable 18-by-15-foot recreation room with blackout curtains providing a perfect media/TV area. Also on this level are another bedroom with an ensuite and a home office. Built in 2001, the home has maple flooring, a kitchen designed for living and entertaining, and separate areas throughout the property to allow for guests and family.

Read more: Real estate sales in Vancouver, Langley and Bowen Island

The Real Estate Board of Greater Vancouver (REBGV) released their September stats with confirmation of the current ups and downs of the property market that has been well documented in the press lately.

For a full report, please click here.

VANCOUVER, B.C. – October 4, 2010 – September home sales in Greater Vancouver were consistent with activity experienced in the preceding two months across most categories.

The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totalled 2,220 in September 2010. This represents a 0.8 per cent increase compared to August 2010 and 37.6 per cent decline from the 3,559 sales in September 2009.

In comparison, last month’s residential sales represent a 40.1 per cent increase over the 1,585 residential sales in September 2008, a 20 per cent decline compared to September 2007’s 2,776 sales, and an 11.9 per cent decline compared to September 2006’s 2,519 sales.

“We’ve seen fewer properties coming on to the market over the last three months. This trend, combined with the continued attraction of low interest rates, is likely having the effect of less downward pressure on home prices,” Jake Moldowan, REBGV president said.

Since spring, housing prices in the region have trended slightly downward, with a decrease of 2.7 per cent compared to the all-time high reached in April when the MLSLink® Housing Price Index (HPI) residential benchmark price was $593,419. The overall benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 5.5 per cent to $577,174 in September 2010 from $547,092 in September 2009. The current price remains consistent with last month, rising just 0.1 per cent between August and September 2010.

Total active property listings posted on the Multiple Listing Service® (MLS®) in Greater Vancouver currently sit at 15,401, basically unchanged compared to last month and a 22 per cent increase from September 2009. Over the last three months, active listings in the region have declined 12.3 per cent.

New residential property listings posted in September declined 17.6 per cent to 4,731 compared to September 2009 when 5,746 new units were listed.

“We saw signs of more stability in our marketplace last month than we have seen since spring based on a variety of indicators that we look at each month,” Moldowan said. “At 56 days, it took, on average, three days less to sell a home in our region compared to August. This is the first month-over-month decline we’ve seen in this category since April.”

Sales of detached properties in September 2010 reached 866, a decrease of 39.1 per cent from the 1,423 detached sales recorded in September 2009, and a 58.6 per cent increase from the 546 units sold in September 2008. The benchmark price for detached properties increased 6.7 per cent from September 2009 to $790,992.

Sales of apartment properties reached 971 in September 2010, a decline of 34.7 per cent compared to the 1,489 sales in September 2009, and an increase of 27.1 per cent compared to the 764 sales in September 2008.The benchmark price of an apartment property increased 3.7 per cent from September 2009 to $388,373.

Attached property sales in September 2010 totalled 383, a decline of 40.1 per cent compared to the 647 sales in September 2009, and a 39.3 per cent increase from the 275 attached properties sold in September 2008. The benchmark price of an attached unit increased 5.2 per cent between September 2009 and 2010 to $490,385.

The real estate industry is a key economic driver in British Columbia. In 2009, 35,669 homes changed hands in the Board’s area. The total dollar volume of residential sales transacted through the MLS® system in Greater Vancouver totalled $21.19 billion in 2009 and generated $1.49 billion in spin-off activity. The Real Estate Board of Greater Vancouver is an association representing more than 10,000 REALTORS® and their companies. The Board provides a variety of member services, including the Multiple Listing Service®. For more information on real estate, statistics, and buying or selling a home, contact a local REALTOR® or visit www.rebgv.org.

For more information please contact:
Craig Munn, Assistant Manager, Communications
Real Estate Board of Greater Vancouver
Phone: (604) 730-3146 Fax: (604) 730-3102
E-mail: cmunn@rebgv.org

Vancouver Sun October 2, 2010

Vancouver
3946 West 30th Avenue

Type: 5-bedroom, 4-bathroom detached
Size: 3,892 sq. ft.
B.C. Assessment, July 2010: $1.545 million
Listed for: $2.188 million
Sold for: $2.05 million
Sold on: July 30
Days on market: 51
Listing agent: Walter Wells at Sutton Group — West Coast Realty
Buyers agent: Kevin Lai at Royal Pacific Riverside Realty

The big sell: This custom-designed home in Vancouver’s Dunbar neighbourhood was built by the sellers in 1983 in a Frank Lloyd Wright style often found in homes on the bluff overlooking Spanish Banks. It features modern sleek lines, glass block walls, skylights, rounded corners and multiple levels. The home also has vaulted ceilings, an open staircase, a sunken living room and family room and a rooftop deck that offers views over Dunbar’s Douglas firs. It uses solar-powered hot water heating, and has a new cedar roof, deck, blinds and high-efficiency furnace. A loft overlooks the master bedroom, which also has access to an ensuite bathroom complete with Jacuzzi tub. The 50-by-130-foot lot provides ample space for family and is close to St. George’s school and Pacific Spirit park.

Vancouver
2303 – 590 Nicola Street

Type: 1-bedroom, 1-bathroom apartment
Size: 810 sq. ft.
B.C. Assessment, July 2010: $766,000
Listed for: $839,000
Sold for: $835,000
Sold on: July 13
Days on market: 97
Listing agent: Shaun Kimmins at Century 21 In Town Realty
Buyers agent: Shine Li at RE/MAX Crest Realty Westside

The big sell: Simply put, a quite spectacular view condo in one of Coal Harbour’s most prestigious towers, the Cascina. Situated on the 23rd floor of this waterfront building, the home has far-reaching views that encompass the ocean, mountains, marina and cityscapes framed by floor-to-ceiling windows. The sumptuous interior has a mix of wall-to-wall carpet, tile, and hardwood flooring, adding additional delineation to each room. The living room is a spacious 20 by 13 feet, with a gas fireplace; a den provides a separate work or reading area. The Cascina lays claim to some of the best amenities found in Coal Harbour, with its 24-hour concierge, swimming pool, hot tub, sauna, billiard room, theatre, gym and private Japanese gardens. Pets and rentals are welcome.

New Westminster
1404 – 121 10th Street

Type: 2-bedroom, 1-bathroom apartment
Size: 956 sq. ft.
B.C. Assessment, July 2010: $267,000
Listed for: $299,800
Sold for: $295,000
Sold on: July 26
Days on market: 7
Listing agent: Brian Vidas at Sutton Centre Realty
Buyers agent: Carol McLintock at Park Georgia Realty Ltd.

The big sell: This 14th-floor condo in the Vista Royale development has been completely renovated with laminate flooring, designer paintwork, updated plugs and switches, new kitchen cabinet doors, simulated granite countertops, stainless steel appliances, a new bathroom, french doors and in-suite laundry. The 100-square-foot balcony offers 180-degree views of New Westminster, and the mountains and water can be enjoyed from both bedrooms and the living room. Updates have also recently been undertaken to the exterior of the building with new paint and plumbing. The suite comes with a large storage locker and a double-size parking stall. It is situated conveniently close to all the goodies that New Westminster offers.

Revelstoke
1416 – 2950 Camozzi Road

Type: 2-bedroom, 2-bathroom apartment
Size: 1,166 sq. ft.
B.C. Assessment, July 2010: $689,000
Listed for: $819,000
Sold for: $819,000
Sold on: Aug 2
Days on market: 300
Listing agent: Emily Beaumont at Sotheby’s International Realty Canada
Buyers agent: Rich Hamilton at Royal LePage Revelstoke

The big sell: The newly built Nelsen Lodge is conveniently situated at the base of the gondola in the heart of Revelstoke Mountain Resort. This fully furnished turnkey property has an enviable list of ski-home accessories: large oversized windows with Monashee mountain vistas, two private balconies, three flat-screen televisions, stainless steel Miele appliances, a Sub-Zero wine fridge, an iPod docking station, and two five-piece ensuites with radiant heated tiles. The home also has a mud room complete with washer and dryer, king-sized beds and a gas fireplace — all housed under nine-foot ceilings. Revelstoke’s well-documented claim to fame is North America’s highest lift-serviced vertical, which presents myriad opportunities and challenges to the recreation enthusiast in both summer and winter.

Read more: Real estate sales in Vancouver, New Westminster and Revelstoke

Vancouver Sun September 25, 2010

Richmond
3120 Bowen Drive

Type: 3-bedroom, 3-bathroom detached
Size: 1,837 sq. ft.
B.C. Assessment, July 2010: $591,500
Listed for: $699,900
Sold for: $695,000
Sold on: July 19
Days on market: 87
Listing agent: Liz Chapman at One Percent Realty Ltd.
Buyers agent: Linda Robins at One Percent Realty Ltd.

The big sell: This split-level in Richmond’s Quilchena neighbourhood had great curb appeal with flowering trees and shrubs in the front garden. Anyone who stopped in would have discovered the house had a new roof, leaded-glass windows, fresh interior paint, a new high-efficiency furnace, hot water tank and alarm system, and a private southfacing back yard with a patio, deck and additional landscaping. The interior consists of three levels: all three bedrooms upstairs; separate reception rooms leading off a 13-by-five-square-foot entrance hall on the main floor; and a family room, laundry and mud room on the lower level. It is opposite Quilchena Golf Course and close to schools, dike and bike trails and parks and transit.

Vancouver
750 East 38th

Type: 5-bedroom, 2-bathroom detached
Size: 2,063 sq. ft.
B.C. Assessment, July 2010: $560,500
Listed for: $649,000
Sold for: $658,000
Sold on: July 3
Days on market: 25
Listing agent: Lorne Goldman at Macdonald Realty Ltd.
Buyers agent: J. Paul Toffoli at TRG – The Residential Group Realty

The big sell: Situated just off Fraser, this 1957 rancher sold for $9,000 over the asking price, perhaps in part because of a rare commodity: a basement that is larger than the main floor and which contains an updated three-bedroom suite, a feature that provides an opportunity for the owner to significantly reduce mortgage payments. The home is on a 33-by-122-square-foot lot. The main level has two bedrooms, a spacious living room and electric fireplace, an open kitchen with granite countertops and separate eating area, and hardwood floors throughout. A resurfaced sun-drenched southfacing deck overlooks the rear garden. This is a quiet stretch of Fraser Street, opposite Mountain View Cemetery, and close to a host of shops just south of 41st Avenue.

Vancouver
208 – 350 East 5th Avenue

Type: 1-bedroom, 1-bathroom apartment
Size: 488 sq. ft.
B.C. Assessment, July 2010: $167,600
Listed for: $228,000
Sold for: $218,000
Sold on: July 8
Days on market: 3
Listing agent: Karin Morris at Royal LePage Northshore
Buyers agent: Connie Buna at Sutton Group – West Coast Realty

The big sell: This studio apartment proves that small can be beautiful. Over the course of a nine-year ownership, the seller transformed this unit by removing kitchen and bedroom walls, and creating an efficient open-plan concept with custom cabinetry, new appliances, a corner gas fireplace and wool carpeting. Further attributes include a southfacing balcony with a quiet, treed and landscaped outlook, same-floor laundry facilities, a bike room, storage, parking, and low monthly maintenance fees. It is in the sought-after neighbourhood of SOMA (South Main), with the new Mount Pleasant Community Centre, coffee shops, restaurants, shopping and transportation on its doorstep.

Silverton
318 Lake Avenue

Type: 2-bedroom, 1-bathroom detached
Size: 1,357 sq. ft.
B.C. Assessment, July 2010: $188,700
Listed for: $225,000
Sold for: $220,000
Sold on: Sept 10
Days on market: 121
Listing agent: Bill Lander at Coldwell Banker Rosling Real Estate Ltd.
Buyers agent: Cheryl Black at Coldwell Banker Rosling Real Estate Ltd.

The big sell: According to listing agent Bill Lander, the Silverton/New Denver real estate market continues to defy the West Kootenay area pricing slide, as demonstrated by this historic Silverton home with Valhalla Mountain views: it sold for 98 per cent of its listed price. Built around 1920 on a 75-by-105-square-foot lot, the property oozes charm. A 408-square-foot separate studio provides a space for artistic endeavours or it could be used as a guest cabin.

Read more: Real estate sales in Richmond, Vancouver and Silverton