Vancouver Real Estate Blog - Vancouver Realtor

First Time Buyer: Is now the time to buy?

Sebastian — Tue, 10 Nov 2009 19:07:27 +0000

In this video blog, Vancouver realtor Sebastian Albrecht provides some advice to potential first time buyers of Vancouver real estate. No matter where you live, you are paying someone’s mortgage. Rather than pay your landlord’s, why not put money in your own pocket? It’s advice Sebastian took when he bought his first Vancouver condo.

Please share your opinion on this, or any other Vancouver real estate topic by contacting Sebastian at sebastian@sebastianalbrecht.com. Sebastian Albrecht video blogs regularly about Vancouver real estate. You can find all of his Vancouver real estate video blogs here.

Buying a Vancouver Condo? View the Parking and Storage!

Sebastian — Fri, 06 Nov 2009 21:01:06 +0000

Vancouver realtor Sebastian Albrecht video blogs about the importance of personally viewing parking spaces and storage lockers. Buying a Vancouver condo? You will want to see both the parking space and storage locker in person. Recent experiences highlight the importance of personally inspecting the parking and storage. It can affect the long-term value and saleability of your investment.

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October 2009 Real Estate Board of Greater Vancouver MLS Statistics

Sebastian — Thu, 05 Nov 2009 20:30:32 +0000

Monthly Vancouver MLS Statistics - October 2009

Upward Pressure Continues

October 2009 ended up being another stellar month in the Vancouver real estate market. We’ve become accustomed to seeing strong results this year, and October was no exception. Demand remained strong while supply shrank and the result was that prices were pushed higher.

However, while to date there had been no signs of the market slowing down. I do believe that we will see a seasonal pullback in sales beginning in November and leading us through December.

Our market continues to be driven by first-time buyers, pent-up demand and low interest rates. I believe that the majority of first-time buyers that were waiting through the downturn to make a purchase have done so. With signs of strength returning to the economy, we should also begin seeing upward pressure on interest rates.

For these reasons I expect we will not continue to see prices skyrocket. During the middle of 2009 there was significant and rapid price appreciation in Vancouver real estate. I don’t believe this will continue and while prices will continue to increase, they will do so at a more modest rate heading into 2010.

The official line

“While home prices have been rising in 2009, they have not eclipsed the peaks reached in early 2008,” Scott Russell, Real Estate Board of Greater Vancouver (REBGV) president said. “We’re coming off several months of unseasonably high sales levels, which has allowed for a gradual increase in home values this year,”

“High confidence and low mortgage rates are continuing to drive the activity we’re seeing in the housing market today,” Russell said.

The numbers

For the fourth time in the last seven months we had an increase in Sales (+6.09%) from 1166 to 1237. Unsurprisingly, this was a huge 205% increase over the 405 Sales in October 2008. The majority of the strength in Sales came on the Westside where they increase 10% month over month versus a slight decline of <1% on the Eastside.

New Listings fell (-10.05%) to 1709 from 1900 (month to month). This was the third time in the last four months that they fell. Year over year, there was an increase (+6.75%) to 1709 from 1601. The decline in New Listings was strongest on the Eastside (-17.07%) vs the Westside (-6.35%).

After seeing recent rises in both the Months of Supply and Active Listings numbers, October saw both of these fall. Active Listings fell very slightly (-0.72%) to 3331 from 3355. Meanwhile the Months of Supply dropped (-5.88%) to 2.67 from 2.84.

More info on Vancouver real estate

Are you a first time home buyer? I have helped many first time buyers purchase their first home. If you are thinking of looking, I can help you take advantage of all the government programs and incentives, educate you on the process, and get you the best possible deal on the home that you want.

Contact Sebastian, Vancouver Realtor or send me a quick email.

Weekly Vancouver Real Estate Update – October 25th 2009 – Market Improves in Strong Week

Sebastian — Wed, 04 Nov 2009 19:58:50 +0000

Weekly Vancouver Real Estate Statistics - October 25th 2009

Wow. What a week in Vancouver real estate. At this time of year we typically see buyer’s begin to disappear as well as new listings while the active listings balloon. Not in this market.

New Listings – Vancouver

For just the second time in the last five weeks New Listings rose. It wasn’t a significant rise (+0.60%) to 334 from 332, but it did rise.

Home Sales – Vancouver

For the third time in the last six weeks Sales rose. Sales rose (+5.79%) to 274 from 259.

Sell/List Ratio – Vancouver

The Sell/List ratio rose yet again. It rose (+4.02) to 82.04% from 78.01%. It is now at it’s highest level since mid-August.

Price Change – Vancouver

Price changes rose (+7.21%) to 119 from 111 the week before.

Active Listings – Vancouver

For just the second time in the last eight weeks the number of Active Listings fell. After just a slight increase in the previous week, this last week it fell (-3.69%) to 3262 from 3387.

The Bottom Line

Just as it began to look as though the market was seeing some seasonal cooling, it heats up again. This last week showed signs of significant activity from buyers. It will be interesting to see how long this lasts into the coming holiday season.

More Info on Vancouver Real Estate

If you’d like to learn more about the Vancouver real estate market generally you can check out this page. You can view daily real estate updates by following Sebastian on Twitter, or keeping an eye on Sebastian’s Vancouver real estate statistics page.

Considering buying or selling, or maybe you just have questions? Feel free to contact me here or send me a quick email.

Copyright © 2009 Vancouver MLS Statistics in the Vancouver Realtor Blog by Sebastian Albrecht, Vancouver Realtor with Royal LePage Vancouver”Weekly Vancouver Real Estate Update – October 25th 2009 – Market Improves in Strong Week”

Why Google Won’t Succeed in Vancouver Real Estate

Sebastian — Tue, 03 Nov 2009 22:35:33 +0000

Vancouver realtor Sebastian Albrecht discusses Google’s real estate search tools and it’s impact on the Vancouver real estate landscape. Google’s entry into real estate a couple of years ago made some realtors nervous. However, a realtor does much more than provide listing information. While the Google tool is fun and easy to use, it continues to struggle to be relevant. Without access to the MLS, or at least Craigslist then Google’s tools won’t be useful to buyers looking for Vancouver homes for sale.

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Multiple Offers Demystified

Sebastian — Mon, 02 Nov 2009 20:10:18 +0000

Vancouver realtor Sebastian Albrecht video blogs about multiple offers. In a strong real estate market multiple offers are common. There’s no need to be afraid of them. Sebastian explains how you can be successful in winning your ideal new home in multiple offers (if it comes to that).

(note: I was caught in a rainstorm just prior to filming this video!)

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Weekly Vancouver Real Estate Update – October 19th 2009 – New Listings Drop While Sales Hold

Sebastian — Mon, 02 Nov 2009 04:23:31 +0000

Weekly Vancouver Real Estate Statistics - October 19th 2009

While New Listings fell Sales rose this past week in the Vancouver real estate market.

New Listings – Vancouver

For three weeks out of the last four, New Listings fell (after they had risen for four consecutive weeks). New Listings fell (-12.86%) to 332 from 381.

Home Sales – Vancouver

For the second time in the five weeks Sales rose. Sales rose (+1.17%) to 259 from 256.

Sell/List Ratio – Vancouver

The Sell/List ratio rose once more. Having risen (+10.82) to 78.01% from 67.19% it is now at its highest point in the last eight weeks.

Price Change – Vancouver

Price changes fell (-5.13%) to 111 from 117 the week before.

Active Listings – Vancouver

For the sixth time in the last seven weeks the number of Active Listings increased. However, this past week that increase was very slight (+0.18%) to 3387 from 3381.

The Bottom Line

This past week saw New Listings fall while Sales rose slightly. This resulted in the Sell/List ratio rising to its highest level in two months.

More Info on Vancouver Real Estate

If you’d like to learn more about the Vancouver real estate market generally you can check out this page.

Considering buying or selling, or maybe you just have questions? Feel free to contact me here or send me a quick email.

Copyright © 2009 Vancouver MLS Statistics in the Vancouver Realtor Blogby Sebastian Albrecht, Vancouver Realtor with Royal LePage Vancouver”Weekly Vancouver Real Estate Update – October 19th 2009 – New Listings Drop While Sales Hold”

How to get an accurate CMA on your Vancouver home

Sebastian — Mon, 26 Oct 2009 18:35:43 +0000

Vancouver realtor, Sebastian Albrecht video blogs about CMAs (comparative market analysis) and what happens when you (and your realtor) have limited information on which to base the value of your home.

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New Listing – 380 E. King Edward (Main Street)

Sebastian — Sat, 24 Oct 2009 19:02:11 +0000

380 E. King Edward Ave (Main Street Bungalow), Vancouver BC

Overview

Main street is one of the hottest neighborhoods in Vancouver right now. This is your chance to buy your new home right in the middle of it all. This solid house has plenty of room for a young family. It’s even ready for you to add a mortgage helper in the 7ft basement!

Details

Cute bungalow just STEPS TO MAIN! This solid 1960s bungalow is waiting for your decorating touch. 2250 sq ft on two levels, 3 bedrooms up, with an entrance that opens onto an OPEN PLAN dining and living room.

You’ll love the inlaid oak HARDWOOD floors and the two WOOD BURNING fireplaces. Bonus is the partially finished SEVEN FOOT BASEMENT that’s ready for you to add a mortgage helper. Recent UPGRADES include the drain tile, roof, furnace and hot water tank.

The original owner has this house well maintained. NO SURPRISES. RS-7 lot.

More Information

You can find more information on 380 East King Edward here. I shall be doing an OPEN HOUSE Sunday, November 25th from 11am – 1pm. If you are unable to make the open house, I would be happy to arrange a private viewing for you.

Weekly Vancouver Real Estate Update – October 12th 2009 – Thanksgiving Week Still Strong

Sebastian — Thu, 22 Oct 2009 17:32:47 +0000

Weekly Vancouver MLS Statistics – October 12th – 18th 2009

Both new listings and sales tapered off this past week. Could be the start of the traditionally slower fall real estate market?

New Listings – Vancouver

This past week was the second in the last three that New Listings fell (after four straight weeks of increases). New Listings dropped (-23.8%) to 381 from 500.

Home Sales – Vancouver

For the third time in the last four weeks Sales dropped. Sales fell (-18.73%) to 256 from 315.

Sell/List Ratio – Vancouver

The Sell/List ratio actually improved to it’s highest level in the last six weeks. This was a result of New Listings dropping further than the Sales numbers. The Sell/List rose (+4.19) to 67.19% from 63% the week before.

Price Change – Vancouver

Price changes fell slightly (-2.5%) to 117 from 120 the week before.

Active Listings – Vancouver

For the fifth time in the last six weeks the number of Active Listings increased. However, this past week that increase was relatively slight (+0.81%) to 3381 from 3354.

The Bottom Line

This week saw both New Listings and Sales fall off and the number of Active Listings rise. This is typical fall activity for the Vancouver real estate market…although the number of Sales is still relatively high compared to recent years. Considering that this week was a holiday week (Canadian Thanksgiving) these were very strong numbers.

More Info on Vancouver Real Estate

If you’d like to learn more about the Vancouver real estate market generally you can check out this page.

Considering buying or selling, or maybe you just have questions? Feel free to contact me here or send me a quick email.

Copyright © 2009 Vancouver MLS Statistics in the Vancouver Realtor Blogby Sebastian Albrecht, Vancouver Realtor with Royal LePage Vancouver”Weekly Vancouver Real Estate Update – October 12th 2009 – Thanksgiving Week Still Strong”