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

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 11, 2010

WEST VANCOUVER
1390 Ottawa Ave

Type: 4-bedroom, 2-bathroom, detached
Size: 3,068 sq. ft.
B.C. Assessment: $1.356 million
Listed for: $1.798 million
Sold for: $1.73 million
Sold on: June 24
Days on market: 67
Listing agent: John Jennings at Prudential Sussex Realty
Buyers agent: Julie Miller at Prudential Sussex Realty

The big sell: Five offers were received for this West Vancouver home with attractions that included a remodelled interior and a substantial 80-by-297-square-foot lot. The property’s open-plan layout showcases hardwood floors, designer paint colours, crown mouldings, a new CaesarStone kitchen island, new bathrooms, a Lennox two-zone heating and air filtration system, and a media room with a built-in speaker system and surround sound. Complementing the features of the house is the south-facing back garden, which has been beautifully landscaped and contains sandblasted concrete stairs that lead to a level lawn complete with enviable practice facilities for the sports enthusiast: a putting green, a pitcher’s mound and a lighted sports court.

SURREY
14124 78th Avenue

Type: 5-bedroom, 3-bathroom, detached
Size: 2,310 sq. ft.
B.C. Assessment: $405,400
Listed for: $489,900
Sold for: $474,000
Sold on: June 21
Days on market: 7
Listing agent: Jerry Heed at Valley Pacific Realty Ltd.
Buyers agent: Sandeep Grewal and Sukh Sangha at Homelife Select Realty

The big sell: With the assistance of two open houses, this East Newton property sold the first weekend it was available. Built in 1977, it has undergone a series of updates including a new kitchen with new appliances, a hot water tank, laminate flooring, a new sundeck, easy care vinyl siding, and new garage doors. The generous-sized reception rooms on the upper main floor make for comfortable living and include an 18-by-15-square-foot living room and a 16-by-12-square-foot kitchen. A large, wraparound covered sundeck with mountain views ensures year-round enjoyment, as does the south-facing, newly-fenced back yard. In addition, there is a spacious 960-square-foot two-bedroom, above-ground mortgage-helper suite.

VANCOUVER
401 – 988 Richards

Type: 2-bedroom, 3-bathroom apartment
Size: 1,769 sq. ft.
B.C. Assessment: $934,000
Listed for: $1.085 million
Sold for: $1.08 million
Sold on: July 3
Days on market: 39
Listing agent: Lester Soo and Henry Fung of Sutton Group — West Coast Realty
Buyers agent: Su-Marie Baird at Dexter Associates Realty

The big sell: Yaletown’s Tribeca Lofts were built in 2006 and were inspired by Manhattan’s Chelsea neighbourhood loft designs. This unit boasts soaring 19-foot ceilings with expansive floor-to-ceiling windows, and two bedrooms with walk-in closets on the mezzanine level. The open design — a signature of most lofts — is a perfect vehicle to display the custom gourmet chef’s kitchen with appliances by Sub-Zero, Gaggenau and ASKO. It also includes a wine cooler, built-in coffee/cappuccino maker, steam and convection ovens, a nine-foot long kitchen island that seats seven people, and quartz stone countertops that are framed by sleek white glass cabinet fronts and a glass backsplash. Engineered exotic Brazilian lyptus hardwood floors flow through the entire loft.

TERRACE
4808 Straume

Type: 3-bedroom, 2-bathroom, detached
Size: 2,236 sq. ft.
B.C. Assessment: $159,100
Listed for: $179,900
Sold for: $175,000
Sold on: Aug 17
Days on market: 12
Listing agent: John Evans and Kelly Bulleid at RE/MAX of Terrace
Buyers agent: Dave Materi at RE/MAX of Terrace

The big sell: According to listing agent John Evans, the selling points for this Terrace home included its choice location near schools and downtown, a quick possession date, a competitive price, some recent renovations that included new flooring, a four-piece family bathroom, a new furnace and fresh paint. The property is in the heart of the Horseshoe area of town, with a lot that measures 65 by 132 square feet, providing the buyers the opportunity to construct a shop in the back yard. Evans says that house prices have stabilized since dropping approximately 10 per cent from last year’s prices, with the majority of interest for Terrace real estate coming from local buyers or those who have transferred to the area for job opportunities.

Read more: Real estate sales in West Vancouver, Surrey, Vancouver, Terrace

Metro Vancouver’s real estate market saw fewer sales in June – down 30 per cent – than the same month last year, according to the Real Estate Board of Greater Vancouver (REBGV). However, the Fraser Valley housing market had a better time of it with increased June sales – up 23 per cent from May but down just eight per cent compared to June 2009.

The full REBGV report can be read here, Metro Vancouver real estate market report for June 2010, which contains interesting stats and benchmark prices for different property types and areas.

The Real Estate Board of Greater Vancouver (REBGV) published its May figures showing what a lot of people have realised that the market has reverted in favour of buyers with listings up and sales down.

Full details of the report continue here:

The REBGV reports that residential property sales in Greater Vancouver totalled 3,156 in May 2010, a decline of 10.4 per cent compared to the 3,524 sales in May 2009; 5.1 per cent more than the 3,002 sales in May 2008; and 27.1 per cent less than the 4,331 sales in May 2007. May 2010 sales also represent a 10.1 per cent decline compared to last month’s sales.

In terms of number of property listings, last month marked the third consecutive month during which more than 7,000 homes were listed for sale on the Multiple Listing Service (MLS®) in Greater Vancouver.

New listings for detached, attached and apartment properties totalled 7,014 in May 2010, a 48.2 per cent increase compared to May 2009 when 4,733 new units were listed, and an 8.3 per cent decline compared to April 2010 when 7,648 properties were added to the MLS®.

At 17,492, the total number of property listings on the MLS® increased 10 per cent in May compared to last month, and is up 28.2 per cent compared to this time last year.

“Prospective home buyers in today’s market have a broad selection to choose from in every property type. REALTORS® are telling us they’re working with buyers who are not feeling as rushed to make a decision as they did late last year and earlier in the year,” Jake Moldowan, REBGV president said.

Over the last 12 months, the overall MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 16.7 per cent to $590,662 from $506,201 in May 2009.

“It’s important for those looking to buy or sell a home to remember that real estate is local and wise real estate decisions are made by those who understand current market conditions at the neighbourhood level,” Moldowan said.

Sales of detached properties in May 2010 reached 1,256, a decrease of 10.4 per cent from the 1,402 detached sales recorded in May 2009 and a 4.4 per cent increase from the 1,203 units sold in May 2008. The benchmark price for detached properties increased 19.1 per cent from May 2009 to $810,175.

Sales of apartment properties reached 1,354 in May 2010, a decline of 7.1 per cent compared to the 1,458 sales in May 2009 and an increase of 8.8 per cent compared to the 1,244 sales in May 2008.The benchmark price of an apartment property increased 13.9 per cent from May 2009 to $398,783.

Attached property sales in May 2010 totalled 546, a decline of 17.8 per cent compared to the 664 sales in May 2009 and a 1.6 per cent decline from the 555 attached properties sold in May 2008. The benchmark price of an attached unit increased 14.8 per cent between May 2009 and 2010 to $500,339.

by Brian Morton, Vancouver Sun

If you’re a young adult looking for a condo, it might be best to approach your parents and just ask for one.

That’s one of the findings of TD Canada Trust’s Condo Poll, which shows Vancouverites not only see condos as a source of long-term income, but that 13 per cent — tied with Montreal for the highest in the country — would consider buying one for their adult children either to own or use.

“The number-one point [in this survey] is that Vancouverites believe condos provide good, affordable accommodation,” said Barry Rathburn, B.C. mobile mortgage specialist for TD Canada Trust, in an interview Wednesday. “It’s also interesting that 47 per cent of Vancouverites would invest in a condo, [mainly] for rental income. That’s the highest in the country.”

The high number of Vancouverites who would buy a condo for their children speaks to the fact that a lot of people in Vancouver have an urban lifestyle “that includes condo living,” Rathburn said.

A large number of parents now help their kids buy their first homes, perhaps with a down payment, so he said he wasn’t surprised by the survey findings.

“A certain segment would buy a condo in a major city so [their children] can attend a university. Afterwards, they could rent it out or sell it.”

According to the poll, Vancouverites continue to see the value in buying a condo, either for their own home or for their children.

The most common reason Vancouverites gave for buying a condo is affordability, with 45 per cent of residents citing that reason, compared to 24 per cent nationwide.

The two other top reasons were less maintenance (21 per cent) and wanting to downsize from a house (15 per cent).

However, respondents in Vancouver were also the most likely in the country to say that if they had more money, they would buy a house over a condo (53 per cent).

As well, Vancouverites are the most likely to consider raising a family in a condo (42 per cent versus 36 per cent nationally).

Rathburn said he’s seeing an increasing number of so-called snowbirds and other travellers who buy a condo for the summer and spend winter elsewhere.

The survey found that 66 per cent of Vancouverites would spend no more than $400,000 for a two-bedroom condo, although Vancouverites are also the most willing to pay more than $400,000 (31 per cent versus 15 per cent nationally). However, just eight per cent of Vancouver residents would pay more than $400 a month in condo fees.

The condo poll was conducted from April 14-20 in five large Canadian urban centres, with about 200 interviews in each centre.

Vancouver is the world’s best place to live, a survey by the Economist Intelligence Unit (EIU) has found.

The Economist Intelligence Unit’s livability shows cities in Canada, Australia, Austria, Finland and Switzerland as the ideal destinations thanks to a widespread availability of goods and services, low personal risk and an effective infrastructure. The report placed Vancouver as the most livable city in the world, with Vienna taking second place followed by Melbourne, Australia. The survey said “In the current global political climate, it is no surprise that the most desirable destinations are those with a lower perceived threat of terrorism.”

The main uncertainty for people living in those cities was climate-related, the EIU said.

The worst places were Algiers in Algeria, and Port Moresby in Papua New Guinea because “many aspects of daily life present challenges”, the EIU said.

The survey has produced a mixed picture of the world’s cities. London was ranked in the 10th group, on a par with Dublin and Los Angeles, but one place below Manchester, four behind Berlin, five lower than Tokyo, and six off Helsinki, Frankfurt and Stockholm.

In Latin America, “no city manages to present ideal living conditions, neither do any fall into the category where extreme difficulties are faced”, the EIU said.

Montevideo in Uruguay, Santiago in Chile and Buenos Aires in Argentina offer the region’s best conditions. Bogota in Colombia and Caracas in Venezuela score the least favourably.

In Asia, cities in Japan, South Korea, Singapore, China and Taiwan all score well, as do Australia’s main hubs.

Africa and the Middle East fare less well, with the EIU citing concerns about terror attacks, and economic and political instability.

Some of the worst performing cities include Harare in Zimbabwe and Lagos in Nigeria.

Top 10 Cities

Vancouver
Melbourne
Vienna
Geneva
Perth
Adelaide
Sydney
Zurich
Toronto
Calgary

Bottom 10 Cities

Tehran
Douala
Harare
Abidjan
Phnom Penh
Lagos
Karachi
Dhaka
Algiers
Port Moresby

Source: BBC News