Greater Vancouver Real Estate Blog

New listings, $408,900 - 2709-688 Abbott St. Firenze Tower

noreply@blogger.com (Carol Tse) — Wed, 14 May 2008 07:43:00 +0000

Amazing one bedroom and den Firenze unit on the 27th floor overlooking the City Park with 2 waterviews. Modern kitchen with stainless steel appliances. Indoor pool, hot tub and gym within the building. Short walk to the Gastown, Chinatown, Costco, and Skytrain.

for more info please visit www.best604homes.com

http://www.best604homes.com/Listing/VirtualTour.ashx?listingid=1704912

Regards,

Carol Tse
Real Estate Agent
www.Best604Homes.com
Cell: 604-773-8010
Fax: 604-266-2466

Mailing Address:
Coldwell Banker Premier Realty
6272 East Boulevard,
Vancouver, BC
V6M 3V7
Canada

New listings, 824900, 5655 Broadway Parkcrest neighourhood!

noreply@blogger.com (Carol Tse) — Wed, 14 May 2008 07:35:00 +0000

Newly listed 5 bed 2 baths Family Home in a great BBY SFU neighourhood!

Lovely family home in great neighbourhood! Nice open layout with patio & swimming pool in fully fenced backyard. Parking in front & back. It's also close to supermarket, SFU, schools, Skytrain station, mall, bus routes and community centre.

For More info please visit www.best604homes.com

http://www.best604homes.com/Listing/VirtualTour.aspx?ListingID=17

Regards,

Carol Tse
Real Estate Agent
http://www.best604homes.com/
Cell: 604-773-8010
Fax: 604-266-2466

Mailing Address:
Coldwell Banker Premier Realty
6272 East Boulevard,
Vancouver, BC
V6M 3V7
Canada

Mortgage broker: Tax Free Savings Account will help people trying to break into housing market

noreply@blogger.com (Carol Tse) — Thu, 28 Feb 2008 22:16:00 +0000

Wednesday, February 27 - 07:00:00 PM Andrea Macpherson

VANCOUVER (NEWS1130) - One mortgage broker says low and middle income earners will be helped the most under the new Tax-Free Savings Account (announced in yesterday's federal budget) when it comes to purchasing a home. That may be good news for those struggling to save for a down-payment in the Lower Mainland's expensive housing market.

Vancity mortgage specialist Ryan McKinley says essentially, low-to middle income earners can save more money more quickly. "It depends what stage in their lives they are at, but if they have been saving for some time and have a significant amount in RRSP's�?�say $20,000...this investment vehicle will allow them to continue saving without having to pay taxes on the income that they derive from it."

McKinley says you can withdraw at any time and not lose your contribution room, whereas with the RRSP if you withdraw for any other reason than buying your first home or using money for education, you get taxed on that income and lose contribution room in the future. McKinley says the Tax Free Savings Account can give you more freedom especially if you cant afford to tie up money in RRSP's.

Real estate prices helping local economy stay strong

noreply@blogger.com (Carol Tse) — Mon, 11 Feb 2008 09:45:00 +0000

Friday, February 08 - 02:16:32 PM Jim Goddard

VANCOUVER (NEWS1130) - It looks like our local economy is almost bullet proof right now. Other parts of North America may be looking at a slow down, but the latest report from Canada Mortgage and Housing Corporation indicates there is no sign of a slow down for Metro Vancouver.

There are two really good indicators to see how well your local economy is doing, housing starts and job creation. Robyn Adamache from CMHC says they expect to see the same number of housing starts this year as 2007, which was the third highest year ever.

She says 30-thousand people moved here last year and some 36-thousand jobs were created. Adamache expects after seeing housing prices go up 11% last year, you can expect prices to be 14% higher in two years.

But don't blame speculators for those higher prices, "The figure we have there has been declining over the past year or so, we're looking at less than 20 percent of home sales, that are being bought and sold within a year."

The Vancouver Regional Construction Association says Lower Mainland construction is at a record high right now and the outlook is very positive for workers.

Our fall real estate market just keeps moving on up!

noreply@blogger.com (Carol Tse) — Wed, 10 Oct 2007 21:03:00 +0000

FALL 2007

Our fall real estate market just keeps moving on up!

Just how good is it going to get? That seems to be the question on every homeowner�??s mind these days. The answer is better than even the industry expected. The Canadian Real Estate Association now forecasts that sales will increase 8.1 % over last year.

It was expected that this year the market would level off, but we were all proven wrong.

The real good news for homeowners is when it comes to price.

Prices are forecast to set new records in every province, especially in the West, both this year and again in 2008. However, while prices will continue to rise, the increases are going to be smaller next year. The resale housing market is expected to become much more balanced, particularly in BC and Alberta, as price increases and higher interest rates will have an impact on affordability.

Coldwell Banker just released the 2007 Home Price Comparison Index for Canada and North America, which was quite an eye opener. Vancouver, B.C. tops the list of Canadian markets studied, where the average homes sell for approx. $ 1,327,000, while the most affordable market is in Charlottetown, PEI at $ 157,600. A difference of a whopping $ 1,169,400.

If you are a homeowner, it�??s a great time to sell and realize some of the equity that is locked within your home. If you are a buyer, there�??s no time to waste. By acting quickly, you can still lock in an attractive interest rate and see your property appreciate in value.

Market at a Glance

Median Sale Prices

Houses Townhouses Apts.

2006

2007

2006

2007

2006

2007

Vancouver West

Vancouver East

Richmond

Burnaby

North Vancouver

West Vancouver

Coquitlam

New Westminster

Delta - South

$1,168,000

$620,250

$627,000

$653,000

$759,000

$1,310,000

$600,000

$500,000

$525,000

$1,463,000

$651,500

$684,000

$738,000

$829,000

$1,681,500

$605,000

$542,500

$604,500

$664,500

$462,00

$399,950

$359,950

$517,000

N/A

$341,750

N/A

$675,000

$486,000

$420,000

$425,000

$551,000

N/A

$359,250

N/A

$410,000

$259,950

$285,000

$278,000

$316,000

N/A

$263,750

$252,500

N/A

$421,500

$299,450

$321,000

$331,250

$357,500

N/A

$268,000

$253,000

N/A

Vancouver West Side Median Price Change

% Change

Houses

Townhouses

Strata

Change 2005 �?? 2006

+22.99%

+16%

+15.12%

Change 2006�?? 2007

+25%

+1.58 %

+2.8%

"As a Realtor, the finest compliment I can ever receive is a

referral from my customers, past clients and friends."

Note: This representation is based in part on data generated by the Real Estate Board of Greater Vancouver, which assumes no responsibility for its accuracy.

How to own a home.

noreply@blogger.com (Carol Tse) — Thu, 05 Jul 2007 17:38:00 +0000

How to own a home

Despite the affordability crisis, there are possibilities out there. But first, you have to do some, er, homework

Don Campbell, Special to the Sun

Published: Thursday, July 05, 2007

The recent Vancouver Sun headline says it all: It takes "70% of your income to buy a house" in Vancouver.

Affordability deteriorated in the first three months of 2007, and an analysis of real estate trends in major cities across the country confirms that Vancouver's affordability is off the scales -- and there's no letup in sight as long as unemployment stays low and the commodity boom continues.

Looking down the road, the possibility of a housing slowdown (not "collapse," as others predict) in B.C. exists for after the Olympics and given the slowdown in the forestry industry, but how many people can really wait until then?

While some may wait and hope for the market to cool off, there are a number of strategies prospective homebuyers can use to get in now.

Our analysis released last year on the impact of the B.C. government's Gateway transportation improvements anticipates that the bridge and road improvements will deliver 15- to 20-per-cent increases in property values in selected regions like Maple Ridge and Abbotsford. This is over and above the prevailing value trends.

But do your homework. Don't just buy near a rapid transit line or highway and hope for the best; that's not investing, it's speculating. Our research shows that if you're too close to a new highway, your value may drop for the first few years before it starts to deliver stronger gains.

Carefully analyse all the fundamentals before making a buying decision. Research shows that properties within 800 metres of a new rapid transit station will increase more quickly than the surrounding area.

Also assisting those who want to buy a home in the Lower Mainland are the recent changes in the Canadian Bank Act. The minimum down payment (without getting mortgage insurance) has dropped from 25 per cent to 20 per cent, thus enabling you to buy more house for your dollar. You could also amortize your mortgage over a longer period, up to 40 years.

Help yourself along the way by looking for properties with built-in mortgage helpers. These are the in-law or secondary suites that many municipalities have now legalized. They help provide you with in-come, thus reducing your overall monthly cost of living in the property.

Finally, a trend that is growing increasingly popular in the Lower Mainland and other high-cost areas is the strategy of equity sharing. This is where you work with someone else (often a family member or parent or friend) who has the ability to come up with cash, often from equity in their current home.

They provide the down payment, you pay the monthly operating and mortgage payments and the two of you share home ownership or the increase in equity as the property value increases.

You get into a property you might never have afforded, and they can put their money to work in the market without the hassles of tenants they don't know. The key is to ensure that you have a clear and written agreement before you do the deal. Have a real estate lawyer review your exit strategy and exactly what will happen when the time comes to sell. Clarity will be vital so that any disagreements are minimized.

The bottom line is, as the market becomes increasingly more difficult for people to get into, homebuyers need to be more creative and think less traditionally. If done right, you won't miss out on the strong equity gains that others are already enjoying.

Always do your homework before you buy, and adjust your thinking so you can get onto the property ladder. The old adage is still in play: "Don't wait to buy real estate . . . buy real estate and wait."

Don Campbell is a Canadian researcher, investor and author of the bestseller Real Estate Investing in Canada.

Soaring dollar may limit rate hikes

noreply@blogger.com (Carol Tse) — Tue, 05 Jun 2007 17:28:00 +0000

Soaring dollar may limit rate hikes

TAVIA GRANT

Globe and Mail Update

June 5, 2007 at 11:50 AM EDT

The Canadian dollar's relentless surge may limit any interest-rate increases, with one chief economist urging the Bank of Canada to hold off on boosting rates altogether to avoid �??adding fuel to the fire.�??

The loonie's risen for nine weeks in a row, gaining 10 per cent this year. It eased a bit Tuesday but remained over the 94-cent (U.S.) mark.

The Bank of Canada said last week that it may raise rates soon to cool inflation, a move that typically drives a currency higher. Increased borrowing costs would come as the strong dollar is already hammering manufacturers, tour operators and resource companies.

�??If I were looking at the fundamentals right now, my advice to the Bank of Canada would be to stay on the sidelines,�?? said Warren Jestin, chief economist at the Bank of Nova Scotia, in an interview.

�??Because our trade is so focused on the U.S., a move in the currency ... adds to the unpredictability of making business decisions and on balance it's a drag on the economy�?? and profitability, he said.

�??We're already going through huge restructuring now in manufacturing. I would suggest that we don't want to throw more fuel on the fire here and exacerbate the problem.�??

Other economists say if the loonie keeps rising, it will limit rate increases to one or two hikes, beginning in July.

Uncertainty over the extent of the currency's rise �??demanded a cautious policy approach from the BoC in 2003 and 2004, and we think it will ultimately prompt the same in the current episode,�?? David Wolf, chief economist at Merrill Lynch Canada, said in a report.

He expects �??two hikes, then a period of evaluation amid steady policy ... expect the BoC to tread hawkishly, but cautiously.�??

Forecasts vary on where the loonie will go. Mr. Jestin �?? who thinks the loonie won't go much higher in the next year or two �?? nevertheless feels the currency could surpass parity in the next three to five years as infrastructure requirements and the size of Canada's resource base lure international investors.

JP Morgan in New York, however, believes the currency is ripe for a big slide. It sees the loonie dropping 20 per cent in the coming years, reaching the 72-cent level, as the Federal Reserve raises rates, oil prices decline and election uncertainty spooks investors.

For now, the loonie's gains �??must surely lessen the appetite at the Bank of Canada for rate hikes,�?? Bank of Montreal said in a morning note.

That's partly because the loonie's appreciation is enough to amount to an �??interest rate equivalence,�?? because it will likely slow the economy and ease inflationary pressure.

If the loonie continues to streak higher in the weeks ahead, it might even �??start chipping away at the odds of move next month,�?? BMO said.

BMO noted that until discontinuing it �?? at the end of 2006 �?? for being too imprecise, the Bank of Canada used to publish a �??monetary conditions index,�?? which sought to express changes in the value of the Canadian dollar as if they were changes in interest rates. The central bank's rule of thumb for the index �?? in the latter years of its existence �?? was that a 3-cent (U.S.) rise in the value of the Canadian dollar had an impact on the economy equivalent to that of a 1 percentage point hike in interest rates.

Rough calculations suggest that with the loonie currently running nearly 8 cents higher than it was at the start of this year, the impact would be comparable to the central bank having raised its benchmark overnight interest by about 2.7 points to 6.95 per cent.

The central bank's next meeting on interest rates is slated for July 10.

File from reporter John Partridge

BC Home Sales Rebound in April

noreply@blogger.com (Carol Tse) — Fri, 18 May 2007 01:38:00 +0000

Vancouver, BC �?? May 17, 2007. British Columbia Real Estate Association (BCREA) reports that residential sales volume on the Multiple Listing Service® (MLS®) in BC rose 17 per cent to $4.2 billion in April, compared to the same month last year. Residential unit sales increased 5 per cent to 9,677 during the same period. The average MLS® price reached $431,945, climbing 11 per cent from April 2006.

�??BC home sales rebounded in April after declining for ten consecutive months,�?? said Cameron Muir, BCREA Chief Economist. �??A 25 per cent increase in the number homes for sale and favourable labour market conditions are major contributing factors.�??

�??Provincial economic growth continues to reinforce housing demand,�?? added Muir. �??However, affordability remains the largest constraint to home ownership in BC. While April�??s performance is notable, it will take a few more months of increasing home sales to consider demand on an upswing.�??

Year-to-date, MLS® residential sales volume was up 8.6 per cent to $13.4 billion, compared to the first four months of last year. MLS® home sales dipped 3 per cent to 31,876 units, while the average MLS® residential price climbed 12 per cent to $420,716.

~~~BCREA

Regards,
Carol Tse
Real Estate Agent

Coldwell Banker Premier Realty
Cell:604-773-8010
Fax: 604-266-2466
www.best604homes.com
msn or e-mail: carol.604@hotmail.com

useful link for buyers and sellers

noreply@blogger.com (Carol Tse) — Fri, 18 May 2007 01:14:00 +0000

http://howrealtorshelp.ca

Regards,
Carol Tse
Real Estate Agent

Coldwell Banker Premier Realty
Cell:604-773-8010
Fax: 604-266-2466
www.best604homes.com
msn or e-mail: carol.604@hotmail.com

Home Sales to Decline, Home Prices to Keep Rising

noreply@blogger.com (Carol Tse) — Tue, 01 May 2007 21:19:00 +0000

Vancouver, BC �?? April 26, 2007. The British Columbia Real Estate Association (BCREA) released report contains forecasts and analysis of the British Columbia economy and housing markets, including detailed forecasts by home type of the province�??s twelve real estate board areas.

�??Market forces have realigned,�?? said Cameron Muir, BCREA Chief Economist. �??Some potential home buyers are now finding themselves at the wrong end of a price-led affordability squeeze, and home sales are forecast to edge down as a result.�?? MLS® residential sales are forecasted to dip 3 per cent to 93,600 units in the province in 2007, and a further 4 per cent to 89,500 units in 2008. The ten-year average is 77,811 units.

�??A more balanced market is emerging in the aftermath of less frenetic buying activity and an increase in residential listings,�?? added Muir. The supply of active listings in the province increased 27 per cent to 32,879 units in March compared to the same month last year. �??More balance between supply and demand will mean less upward pressure on home prices,�?? said Muir. The average MLS® residential price in the province climbed 18 per cent to $390,963 in 2006. This year, the average MLS® residential price is forecast increase a more modest 8 per cent to $422,000, and a further 7 per cent to $450,000 in 2008.

�??Strong economic fundamentals will underpin housing demand through 2008,�?? noted Muir. �??Robust labour demand is forecasted to keep job growth high and unemployment low. In addition, wages and salaries, and personal disposable income are forecast to rise well above the inflation rate.�??

BC housing starts are forecasted to decline 7 per cent to 33,900 units in this year and a further 6 per cent to 32,000 units in 2008. While new home inventories remain at low levels, capacity constraints are inhibiting the ability of many BC home builders to increase production.

Regards,
Carol Tse
Real Estate marketing Specialist

Coldwell Banker Premier Realty
Cell:604-773-8010
Fax: 604-266-2466
www.best604homes.com
msn or e-mail: carol.604@hotmail.com

The 2007 BC Budget and Real Estate

noreply@blogger.com (Carol Tse) — Tue, 20 Mar 2007 07:56:00 +0000

We all love videos don't we? Below was the news clip from March 6th, 2007 regarding about highlights from the recent British Columbia budget for homeowners and home buyers.

Regards,
Carol Tse
Real Estate marketing Specialist

Coldwell Banker Premier Realty
Cell:604-773-8010
Fax: 604-266-2466
www.best604homes.com
msn or e-mail: carol.604@hotmail.com

Who stole your house??!

noreply@blogger.com (Carol Tse) — Thu, 15 Mar 2007 06:14:00 +0000

If you didn't catch the news yesterday, there was an article on Title Fraud. Although it does not occur very often, it is a major and serious concern for all buyers and sellers.

An example of what can happen:

"A fraudster registers forged documents transferring the property of an innocent victim to his or her name, then registers a forged discharge of the existing mortgage, and finally obtained a new mortgage against the property and then makes off with the money without making payments. The mortgage then goes into default and the lender commences foreclosure proceedings. The registered owners of the property deny they signed the mortgage. They later find out their grandson has forged their signatures on the mortgage documents, inventing a �??lawyer�?? and purchasing a stamp at a stationary store in order to authenticate the documents.

A home owner discovers she has become a victim of fraud when a lender tells her that someone has impersonated her to obtain financing on her property. The impersonator has had a mortgage broker arrange for a first and second mortgage on the property. It is revealed that when the impersonator met with a lawyer to sign the mortgage documents, he produced a fake driver�??s license as evidence of his identity. The funds were then advanced to the impersonator. Often, this can happen when a person has an accomplice impersonate his or her spouse in order to mortgage the property in which they live."

Currently, title insurance is the only way to protect against real estate title fraud.

Real estate title fraud can happen to anyone. It�??s up to you to get informed and protect yourself.

For more information, please visit:
http://www.protectyourtitle.com/default.htm

Regards,
Carol Tse
Real Estate marketing Specialist

Coldwell Banker Premier Realty
Cell:604-773-8010
Fax: 604-266-2466
www.best604homes.com
msn or e-mail: carol.604@hotmail.com

2006 Canada Census

noreply@blogger.com (Carol Tse) — Wed, 14 Mar 2007 22:59:00 +0000

More than half of British Columbia's residents live in the Vancouver Area

The third-largest metropolitan area in Canada for many years, Vancouver passed the 2 million mark for the first time in 2006. British Columbia's biggest city, it is home to more than half of the province's population.

Though the province experienced net losses in its migration exchanges with the rest of the country, especially other parts of British Columbia, Vancouver is the destination of many international immigrants. Between 2001 and 2006, an average of 25,000 immigrants a year settled in the Vancouver area. Because of international immigration, Vancouver continued to experience a higher population growth rate than the provincial average in the 2001 to 2006 period (6.5% versus 5.3%).

The municipalities of Burnaby (+4.6%) and Coquitlam (+1.5%) grew more slowly than the provincial average (+5.3%) since 2001. Richmond's population growth rate was higher, at 6.2%.

~~ http://www12.statcan.ca/english/census06/analysis/popdwell/Subprov5.cfm~~

How to decorate in small spaces.

noreply@blogger.com (Carol Tse) — Mon, 12 Mar 2007 08:50:00 +0000

With the majority of the condos being less than 1000 Sq. feet, many owners are having problems maximizing their spaces. I've attached a video from the Brick that suggest ways of making your living space work for small space owners. Enjoy!

"Watch as The Brick and interior designer Chantal Ross transform a one bedroom 789 square foot condominium into a comfortable and beautiful living space. For more information on this makeover and the products used in it, check out The Brick's Small Space Solutions at www.thebrick.com"

Cheers,
Carol Tse
Real Estate marketing Specialist

Coldwell Banker Premier Realty
Cell:604-773-8010
Fax: 604-266-2466
www.best604homes.com
msn or e-mail: carol.604@hotmail.com

looking to improve your home?

noreply@blogger.com (Carol Tse) — Sun, 04 Mar 2007 04:37:00 +0000

Check out these two websites, both websites gives you a great deal of ideas and unique ways of improving your home. Enjoy!

http://www.pacificcolumns.com

Pacific Columns is the leading provider of interior/exterior architectural columns. Using the finest materials to craft superior products, Pacific Columns is undoubtedly matchless in customization, variety, and quality.

http://www.ArchitecturalDepot.com

Cheers,
Carol Tse
Real Estate marketing Specialist
Coldwell Banker Premier Realty
Cell:604-773-8010
Fax: 604-266-2466
carol.604@hotmail.com

Do you know your grants and exemptions?

noreply@blogger.com (Carol Tse) — Thu, 15 Feb 2007 05:24:00 +0000

~Realtor Link, Vancouver, BC. Vol. 8, Number 3. February 9th, 2007

Hope you find this useful! I know it's fairly small, if you would like a copy of this I would be more than happy to e-mail a copy for you. Please let me know!

Cheers,
Carol Tse
Real Estate marketing Specialist

Coldwell Banker Premier Realty
Cell:604-773-8010
Fax: 604-266-2466
www.best604homes.com
msn or e-mail: carol.604@hotmail.com

Just how high can our condo prices go?

noreply@blogger.com (Carol Tse) — Mon, 12 Feb 2007 08:38:00 +0000

There was an interesting article by Derrick Penner, from the Vancouver Sun regarding about Vancouver Condo price. I've been hearing people asking me whether they should buy now or buy later because of how "hot" the Vancouver real estate market has been in the last few of years. In the article, it stated that the housing market will continue to expand at a rate of 4.4% by the end of the decade. Furthermore, it is estimated that the average prices of condos will rise from $289,344 in 2006 to $349,409 by 2010. (that's almost 21% return rate!) It's true that part of the hot housing market is cause by our economy right now (ie. 2010). People will say that the market will drop dramatically once the Olympics are over. Now, this is all prediction, and we won't be able to know for sure until the time comes. But in my opinion, after the Olympics, with all the new infrastructure, Vancouver will become an even more attractive place to live in. You can be sure that people will continue to settle in this beautiful city. You can be sure that the housing market won't go down anytime soon. Time is of the essence.

To read the article, you can click on the link below:

http://www.canada.com/vancouversun/news/business/story.html?id=4760f2ef-da8b-474d-bc79-10358c6b4ec6&k=38434

Cheers,
Carol Tse

Coldwell Banker Premier Realty
Cell:604-773-8010
Fax: 604-266-2466
www.best604homes.com
msn or e-mail: carol.604@hotmail.com

Welcome to Best604Homes.com

noreply@blogger.com (Carol Tse) — Sun, 11 Feb 2007 08:32:00 +0000

Hello All!

If you're here, then you must be interested in the Vancouver real estate market right now. I just want to thank you for visiting my blog and I look forward to giving you updates on the market. If you are interested, please visit my website at www.best604homes.com for more buyer's and seller's infomation.

Warmest Regards,
Carol Tse

Coldwell Banker Premier Realty
Cell:604-773-8010
Fax: 604-266-2466
www.best604homes.com
msn or e-mail: carol.604@hotmail.com