$409,000 – ACTIVE

1 Bedrooms / 1 Bathrooms / 593 sq.ft / Yaletown /

[MLS®#V949365:] – An upscale unit at the coveted MONDRIAN 2 by Bosa. no wasted space in this one… 1 bedroom + Den, open kitchen, engineered hardwood floors, stainless appliances, insuite storage (in addition to an external storage locker), funky living space designed with a two sided fireplace, facing the living room and bedroom.

Suite is on the 17th floor, facing north-west with beautiful views of the city and mountains. Large windows, light maple throughout, suite always feel bright and airy. The building amenities are second to none! Mondrian Spa offers Jacuzzi, steam room, his and hers change rooms and a FULL size gym. Also, 2 guest suites can be rented exclusively to the Mondrian owners friends and guests.

As Vancouver Realtors we’re happy to answer your questions about the Mondrian buildings. Over the years we’ve helped clients buy and sell many suites in the two towers. We know everything about the Mondrian towers, including property values, maintenance history, amenities and suite layouts.

Please email for 989 Richards St (Mondrian II) and 969 Richards St (Mondrian I) building floor plans, video tours, Google map locations, building amenities and other 1 bedrooms for sale or 2 bedrooms condos for sale at the Mondrian.

When you look back at the last 10 years of home sales in Vancouver, the start of 2012 has been slower than most of the previous years. The good news is, over the last few months the real estate market has been stable and sales have been holding strong.

In the month of April there were close to 2,800 MLS homes sales in Greater Vancouver, that’s all sales of detached houses, townhomes, duplxes and condos. It’s about a 13% decline over the same period last year and the lowest sales month since 2001. It sounds drastic to have last month as the lowest sales month since 2001 but let’s take another look at this data. The last 10 years have been extremely active and consistent in terms of sales. So when we have a slight slowdown, there’s a noticeable contrast to the home sales from the recent past.

We’re currently moving towards a balanced real estate market. The housing market does not favor the buyer or seller in our current market. There were a little over 6,000 homes listed for sale in the month of April and this is about 6.7% over the 10 year average. There’s currently about 16,600 MLS listings for sale, up 16% from April last year. What does this all mean? We’re seeing more homes for sale. The sales are consistent and so is the flow of new listings for sale.

In previous years there were too many sales for the number of homes being introduced to the market. This creates a sellers market where buyers are fighting over the few homes available to purchase. As we stand in April 2012, the market is balanced. As Vancouver Realtors selling homes in the market of Vancouver Westside and East Vancouver, we welcome a more balanced housing market. Buyers have more choice, giving them an opportunity to take their time searching and hopefully find their ideal home. Sellers have a bit more competition and no longer hold all the cards. Sellers can expect to sell at market value, in a reasonable period of time on the market.

As of April this year home prices are up 3.7% since last year. You may ask how this is possible when we’re moving into a balanced market and more homes are available. Based on supply and demand, the more availably of a resource causes prices to drop. The average home prices include sales of condos, duplexes, townhomes and detached houses. If we were to segment the data into two categories, houses and condos, it’s much easier to understand what’s happening with prices. House prices have increased while condos prices have been dropping. As detached houses are more expensive on average, the current median prices has risen.

As Vancouver realtors we can comment on what we’re experiencing in the real estate market. The condo market has been lagging and much slower than previous years. This means it’s much more difficult to sell a condo and buyers are determined to negotiate hard when purchasing. The opposite is happening in the detached housing market, we’re seeing multiple bids on houses and there’s a high demand. Houses sell fast if they’re priced appropriately.

If you have questions about the Vancouver real estate market or plan on selling your property, don’t hesitate to email or call us for advice.

$425,000 – SOLD

1 Bedrooms / 1 Bathrooms / 615 sq.ft / Yaletown /

[MLS®#V944824:] -

1 bedroom plus den at The Max by Concorde Pacific, South West exposure with views of Yaletown, False Creek and water.  Large floor to ceiling windows enhance the beautiful outlook and ensure your suite is bright, year round.

This bright and airy suite features a balcony, larger den, great layout and quality finishes. European-style kitchen features a gas stove, granite counters, and white lacquer cupboards.

Suite also comes with parking, storage locker and access to amazing amenities. Amenities include concierge, hot tub, steam room, pool, sauna, media room, yoga room and gym. Pets & rentals ok.

As Vancouver Realtors we’re always happy to answer your questions about the properties we market, don’t hesitate to call or email us.

$539,000 – ACTIVE

2 Bedrooms / 2 Bathrooms / 990 sq.ft / Mount Pleasant /

[MLS®#V939712:] South Main condo living. The Villa Sophia is a boutique building of only 33 units located conveniently on Sophia and East 14th Ave. The building was completely upgraded with brand new interior, plumbing, properly installed insuite laundry, new patios and more….

Unit is a top floor corner suite completely customized by the owner. Open Kitchen with stainless appliances, granite countertops in kitchen and bathroom, ceramic tile, full size laundry and modern fixtures. The master bedroom is massive and the second bedroom features a beautiful skylight.

The location is second to none! close to all of the SOMA cafes, restaurants and shopping. You’re only a block and a half from Main Street. Pets and rentals OK

As Vancouver Realtors we’re always happy to answer your questions about the properties we market, don’t hesitate to call or email us.

$469,000 – ACTIVE

2 Bedrooms / 1 Bathrooms / 732 sq.ft / Apartment / Kitsilano

[MLS®#V927964:] Bosa constructed Top Floor Corner Unit with large windows in the living area and 10 ft ceilings has a long brag list. 2 parking stalls, a large outdoor patio for BBQ’s, hard wired for home entertainment system, solid dark walnut floors throughout, custom organized insuite storage, large stainless steel fridge, insuite laundry and huge den converted into a fully functional 2nd bedroom with inset closet and window for fresh air and yes it is Rainscreened.

Bedrooms on opposite sides, come and view the efficiency of the floor plan for yourself. Set in the heart of Kits you are on the doorstep of the best Vancouver has to offer, including Jericho Beach, West 4th shops and restaurants, transit and UBC.

As Vancouver Realtors we’re always happy to answer your questions about the properties we market, don’t hesitate to call or email us.

$549,000 – SOLD

2 Bedrooms / 2 Bathrooms / 922 sq.ft / Apartment / Kitsilano

[MLS®#V933934:] Very Bright open floor plan 2 bedrooms 2 bathrooms home at the MAPLES building in Arbutus Walk. The unit features 9 ft ceilings, open kitchen with stainless steel appliances, engineered wood floors, lots of windows and natural light, larger bedrooms and east facing private balcony for your summer BBQ’s.

This concrete construction building is situated in one of the most desirable areas on the Westside. Walking distance to Broadway cafes and shops, Arbutus street amenities, and west 4th Ave. From your front window you look over park area of Lord Tennyson elementary school. It’s also a short walk to Connaught Park, Kits Community Center and Kits Secondary. The street has massive trees providing cover in the summer while adding a touch of nature to your life. The Maples building is also close to Arbutus Walk village, grocery stores and everything else you need.

As Vancouver Realtors we’re always happy to answer your questions about the properties we market, don’t hesitate to call or email us.

Out With The HST, In With The New Housing Rebate

The brief life of the HST (Harmonized Sales Tax) is coming to an end. The housing market has seen some ups and downs over the past few years, so you might be wondering what the repeal of the HST means to the average home buyer.

The BC government announced a set of measures it will be introducing to see us through the transition.  Whether you’re buying, or selling, or just fantasizing about your dream house, you should make yourself aware of the new measures.

According to Finance Minister Kevin Falcon, the new measures are meant to be a “boost to home buyers…. At the same time, they help an important job-creator in all parts of the province.”

HST: Fatally Wounded, But Still Kicking

HST won’t be phased out until April 1, 2013, but the big news is the change to the New Housing Rebate.  The maximum rebate will increase to $42,500 (up from $26,250), to a maximum selling price of $850,000 (up from $525,000).  The take away from the announcement, it’s that more buyers will qualify.

How much tax you pay, and how much of a rebate you get, depends on when you sign and when you take possession.  The ins and outs get a little tricky, so here’s a brief overview:

The New Housing Rebate

The enhanced New Housing Rebate applies in a few other circumstances, beyond new purchases.  Specifically:

• Purchase of secondary or vacation homes outside the outside Greater Vancouver and Capitol regional districts.
• Owner-built homes, if HST was paid on the land.
• Upgrades on rental properties

Beyond the enhanced New Housing Rebate, if you built your own house but DIDN’T pay HST on the land, you’re still eligible for the New Housing Rebate, but at the lesser maximum of $28,475.

Some of the new measures are more sizable than others, but all together it is expected that it they will ease the tax burden on the B.C. home buyer, and keep the market moving. As Realtors selling homes in Vancouver, we welcome questions you may have about purchasing real estate & how HST affects you.

$399,000 – ACTIVE

2 Bedrooms / 2 Bathrooms / 870 sq.ft / Apartment / East Hastings street

[MLS®#V929763:] Great unit at this 4 storey concrete steel frame construction. The unit features 2 bedrooms 2 full bathrooms, spacious kitchen, in suite storage, great layout, and a huge south facing ( the quiet side of the building) patio for your summer BBQ’s and entertainment.

The finishes within unit are beautiful – granite countertops, laminate floors throughout, gas range, stainless steel appliances, a warm fireplace & full sized washer/dryer.

Ideal for investment or first time buyers looking to live just minutes to downtown & steps to lots of new shops. The building is still under the 2-5-10 Warranty , rentals and pets are welcome.

Please visit our homes for sale page to view all photos and full property description. If you’re planning on selling your home, townhouse or condo this year, we encourage you to contact us. We’ve been selling homes in Vancouver as Realtors for over 10 years and provide the most advanced real estate marketing and professional service.

The month of January had an increased number of homes listed for sale on the MLS system. Our market is moving more into a balanced real estate market.

5,756 homes added to the MLS system in January, a 20% increase from January 2011. Of coarse there were other listings previously on the system, pushing the highest number of properties for sale to 12,544 listings, about a 12% increase over last years numbers.

Buyers are favored in this kind of market as there’s increased selection and more stability in pricing, i.e. less multiple offers. As Realtors we have been seeing a serge in the market. As i’m adding this update it’s the second week in February and these statistics are from January. In the last couple weeks we’ve seen the market really heated up and there’s now more multiple offers happening.

What’s new this past month is the launch of the MLSLink HPI (can be found at www.rebgv.org), made up of statistics from the five largest real estate boards, including Greater Vancouver, Fraser Valley, Calgary, Montreal and Toronto. This stats tool can be used to track and forecast trends in the housing market. Based on the new system the benchmark price of a house is $660,000 in Greater Vancouver. This price index is up 5.7% over last year prices, in the month of January.

If you have questions about the real estate market in Vancouver or have comments you’d like up to post, don’t hesitate to send us a message.

Today TD Bank announced they’re making changes to mortgages for people who fall within the self-employed category. CIBC Bank had already made this change last week and it’s likely other banks will follow this trend. The government is looking to protect home owners and the economy from problems similar to what happened in the US. It seems the government is looking to cool the real estate market by making it harder for some people to receive approvals for mortgages.

Before these changes, bankers or mortgage brokers were able to qualify home buyers by increasing there down-payment to 35%, even if they worked on a contract basis or relied on commissions. Self-employed individuals can be car salesmen, insurance brokers, contract workers or small business owners. Often business owners in Vancouver have their company listed as a corporation, paying themselves a small salary. Often these people are qualified to purchase a home under the self-employed category.

Consider this, about 1 in 6 workers are self employed and i’d bet it’s probably slightly higher for Vancouver. There has been a 12% increase within the last decade of people who are considered self-employed. Just last year (2011), there was an increase of 2%. This is about double the growth of typical employment, clearly a growing sector. These are the people who are agile, business starters, entrepreneurs and job creators. These are the people who are keeping the economy rolling. They already have their challenges by working with no safety nets and pension plans. They work longer hours and don’t always know what their salary will be from month to month. Business owners face many challenges, it’s unfortunate the government is penalizing an important sector by making it harder for them to qualify for mortgages.

How might this affect the real estate market? As Vancouver Realtors, we see tightening of mortgage rules as a way to cool the housing market. Is this a bad thing? Not really as we don’t want to see our housing market increase out of control and turn into a bubble. I personally feel there could be more creative ways to control our market and not hurt the local business owners who are so vital to our city.

If you have any comments or ideas you’d like me to post, please send us and email.