Patricia's blogs on the real estate market and related matters

Deep Cove Open House!

Patricia Houlihan — Tue, 15 May 2012 19:02:43 -0700

We are happy to announce that this May 19th, 3:00 PM to 4:30 PM we will be hosting an Open House at 320 Sasamat Lane in Deep Cove, North Vancouver. This is an opportunity to visit this excellent Property for sale in beautiful Deep Cove.

Please come with any questions you may have. In the meantime you can take a virtual tour of this Deep Cove Property for sale.

As always please do not hesitate to give me a call at 604-376-7653 if I can answer any questions before the open house, or if you would like to book a private showing.

Patricia Houlihan
Macdonald Realty Ltd.

320 Sasamat Lane, North Vancouver, BC

Patricia Houlihan — Mon, 14 May 2012 14:29:35 -0700

I just finished uploading this Property for sale, 320 Sasamat Lane, North Vancouver, BC

AMAZING WATERFRONT; AMAZING PRICE! Unbelievable value: renovated waterfront home for under $1 million dollars less than 30 minutes from downtown Vancouver. Lovely 2 bedroom home with new kitchen, windows and baths. Large lot for future larger house. Lots of parking and storage and, best of all, your own private dock..buy now and eat fresh crab all summer!

Lower Lonsdale Open House!

Patricia Houlihan — Wed, 09 May 2012 16:24:51 -0700

We are happy to announce that this May 12th, 2:00 PM to 3:30 PM we will be hosting an Open House at 421 E 4th St in Lower Lonsdale, North Vancouver. This is an opportunity to visit this excellent Property for sale in beautiful Lower Lonsdale.

Please come with any questions you may have. In the meantime you can take a virtual tour of this Lower Lonsdale Property for sale.

As always please do not hesitate to give me a call at 604-376-7653 if I can answer any questions before the open house, or if you would like to book a private showing.

Patricia Houlihan
Macdonald Realty Ltd.

Vancouver Heights Open House!

Patricia Houlihan — Mon, 07 May 2012 17:39:45 -0700

We are happy to announce that this May 12th, 2:30 PM to 4:00 PM we will be hosting an Open House at 3807 Triumph St in Vancouver Heights, Burnaby. This is an opportunity to visit this excellent Property for sale in beautiful Vancouver Heights.

Please come with any questions you may have. In the meantime you can take a virtual tour of this Vancouver Heights Property for sale.

As always please do not hesitate to give me a call at 604-376-7653 if I can answer any questions before the open house, or if you would like to book a private showing.

Patricia Houlihan
Macdonald Realty Ltd.

Vancouver Heights Property for sale: 3807 Triumph St, Burnaby, BC

Patricia Houlihan — Mon, 07 May 2012 17:37:21 -0700

Beautiful, extensively renovated (with permits) home on a 50 x 122 lot at an amazing price! It is almost impossible to find quality and value like this: 6 bedrooms, 4 baths, beautiful finishings, hardwood floors, amazing open plan living, dining and kitchen with a private yard perfect for entertaining or just lounging in the hot tub. There is also a nanny or in-law suite and of course, a 2 car garage. Don't miss this opportunity to live in sought after Vancouver Heights!

I just finished uploading this Property for sale, 3807 Triumph St, Burnaby, BC

4525 Summerside Lane, North Vancouver, BC

Patricia Houlihan — Mon, 07 May 2012 17:25:50 -0700

I just sold this Property at 4525 Summerside Lane, North Vancouver, BC Deep Cove.

View this recently sold Property or see all my home sales

Greater Vancouver housing market maintains a steady spring pace

Patricia Houlihan — Fri, 04 May 2012 15:31:44 -0700

Home sale and listing activity has maintained a consistent pace on the Multiple Listing Service® (MLS®) in Greater Vancouver in recent months, which has helped create balanced conditions for the region’s housing market.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,799 on the Multiple Listing Service® (MLS®) in April 2012. This represents a 13.2 per cent decline compared to the 3,225 sales recorded in April 2011 and a decline of 2.6 per cent compared to the 2,874 sales in March 2012.

April sales were the lowest total for the month in the region since 2001 and 16.9 per cent below the 10-year April sales average of 3,369.

“Although April sales were below what’s typical for the month, we continue to see, with a sales-to-active listing ratio of nearly 17 per cent, a balanced relationship between buyer demand and seller supply in our marketplace,” Eugen Klein, REBGV president said.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 6,056 in April 2012. This represents a 3.6 per cent increase compared to both March 2012 when 5,843 homes were listed and April 2011 when 5,847 homes were listed for sale on the region’s MLS®.

Last month’s new listing total was 6.7 per cent above the 10-year average for listings in Greater Vancouver for April.

At 16,538, the total number of homes listed for sale on the region’s MLS® increased 8.5 per cent in April compared to last month and increased 16 per cent from this time last year.

“Recent activity has had a stabilizing effect on home prices at the regional level, although pricing can vary depending on area and property type,” Klein said “To best understand conditions within your area of interest, it’s important to do your homework and consult a local REALTOR®.”

The MLS® HPI benchmark price for all residential properties in Greater Vancouver currently sits at $683,800, up 3.7 per cent compared to April 2011 and an increase of 2.8 per cent over the last three months. The benchmark price for all residential properties in the Lower Mainland is $612,000, which is a 3.4 per cent increase compared to April 2011 and a 2.6 per cent increase compared to three months ago.

Sales of detached properties on the MLS® in April 2012 reached 1,126, a decline of 19.7 per cent from the 1,402 detached sales recorded in April 2011, and a 17.8 per cent decrease from the 1,370 units sold in April 2010. The benchmark price for detached properties increased 6.3 per cent from April 2011 to $1,064,800.

Sales of apartment properties reached 1,190 in April 2012, a decline of 0.9 per cent compared to the 1,201 sales in April 2011, and a decrease of 22 per cent compared to the 1,526 sales in April 2010.The benchmark price of an apartment property increased 1.1 per cent from April 2011 to $375,900.

Townhome property sales in April 2012 totalled 483, a decline of 22.3 per cent compared to the 622 sales in April 2011, and a 21.6 per cent decrease from the 616 townhome properties sold in April 2010. The benchmark price of a townhome unit increased 1.7 per cent between April 2011 and 2012 to $487,300.

Download the complete stats package by clicking here.

Lower Lonsdale Open House!

Patricia Houlihan — Thu, 03 May 2012 18:28:55 -0700

We are happy to announce that this May 5th, 3:00 PM to 4:30 PM we will be hosting an Open House at 421 E 4th St in Lower Lonsdale, North Vancouver. This is an opportunity to visit this excellent Property for sale in beautiful Lower Lonsdale.

Please come with any questions you may have. In the meantime you can take a virtual tour of this Lower Lonsdale Property for sale.

As always please do not hesitate to give me a call at 604-376-7653 if I can answer any questions before the open house, or if you would like to book a private showing.

Patricia Houlihan
Macdonald Realty Ltd.

4457 Cove Cliff Rd, North Vancouver, BC

Patricia Houlihan — Wed, 02 May 2012 18:00:47 -0700

I just sold this Property at 4457 Cove Cliff Rd, North Vancouver, BC Deep Cove.

View this recently sold Property or see all my home sales

Macrealty April 2012 Market Update

Patricia Houlihan — Thu, 26 Apr 2012 15:02:53 -0700

There has been a lot of mortgage news recently as the Big Banks fight for market share with record-low mortgage rates. In February, we covered how BMO Bank of Montreal started the mortgage wars by offering a 2.99% 5-year fixed rate mortgage. Other lenders followed suit, matching the 2.99% rate, but generally offering only a 4-year option. On March 29th, RBC Royal Bank signalled the end of this war by raising its rates by 50 basis points to 3.49%. It is expected that other lenders will follow RBC's lead in order to shore up their profit margins.

As a consumer, given the current fixed and variable rates available, what should you do?

Since 1975 variable rate mortgages have proven to be more financially beneficial 82% of the time. That said, some experts are now saying that, given historically low rates, we may now be in that 18% period where it makes more financial sense to lock into a fixed rate mortgage. Remember, even with the higher 3.49% mortgage, the current rate is far below the historical average, which, since the 1950s, has generally remained north of 6%.

Some things you should consider when choosing between a fixed- and variable-rate mortgage:

Choose a variable-rate mortgage if:

- You think interest rates will remain at the same level or lower during the term of the mortgage
- You think there's a possibility that you may sell prior to the end of the term and wish to avoid excessive pre-payment penalties (there is, typically, a 3 month interest penalty on VRMs)
- You can afford a possible rise in rates

Choose a fixed-rate mortgage if:

- You think interest rates will rise more than the difference between your current fixed and variable rate mortgage options
- You have no plans on selling your home during the mortgage term
- You want to know what your payments will be and have peace of mind that they will not change
- Something else to consider is that some lenders will allow you to first enter a variable-rate mortgage and then switch or 'lock-in' to a fixed rate mortgage if rates begin to rise

In the end, your personal situation is unique and you should speak to a professional mortgage specialist or broker to determine what the best option is for you; I would be happy to recommend one if you don't already have someone in mind.

Patricia
(604)376-7653

Deep Cove Open House!

Patricia Houlihan — Tue, 24 Apr 2012 12:31:13 -0700

We are happy to announce that this Apr 28th, 3:00 PM to 4:30 PM we will be hosting an Open House at 4525 Summerside Lane in Deep Cove, North Vancouver. This is an opportunity to visit this excellent Property for sale in beautiful Deep Cove.

Please come with any questions you may have. In the meantime you can take a virtual tour of this Deep Cove Property for sale.

As always please do not hesitate to give me a call at 604-376-7653 if I can answer any questions before the open house, or if you would like to book a private showing.

Patricia Houlihan
Macdonald Realty Ltd.

10611 McLennan Place, Richmond, BC

Patricia Houlihan — Mon, 23 Apr 2012 13:52:06 -0700

I just sold this Property at 10611 McLennan Place, Richmond, BC Bridgeport.

View this recently sold Property or see all my home sales

Roche Point Open House!

Patricia Houlihan — Fri, 20 Apr 2012 15:05:49 -0700

We are happy to announce that this Apr 21st, 1:00 PM to 2:30 PM we will be hosting an Open House at 3629 Deercrest Dr in Deerfield @ Raven Woods in Roche Point, North Vancouver. This is an opportunity to visit this excellent Property for sale in beautiful Roche Point.

Please come with any questions you may have. In the meantime you can take a virtual tour of this Roche Point Property for sale.

As always please do not hesitate to give me a call at 604-376-7653 if I can answer any questions before the open house, or if you would like to book a private showing.

Patricia Houlihan
Macdonald Realty Ltd.

Deep Cove Open House!

Patricia Houlihan — Fri, 20 Apr 2012 15:04:02 -0700

We are happy to announce that this Apr 21st, 3:00 PM to 4:30 PM we will be hosting an Open House at 4525 Summerside Lane in Deep Cove, North Vancouver. This is an opportunity to visit this excellent Property for sale in beautiful Deep Cove.

Please come with any questions you may have. In the meantime you can take a virtual tour of this Deep Cove Property for sale.

As always please do not hesitate to give me a call at 604-376-7653 if I can answer any questions before the open house, or if you would like to book a private showing.

Patricia Houlihan
Macdonald Realty Ltd.

Deep Cove Open House!

Patricia Houlihan — Wed, 18 Apr 2012 20:07:19 -0700

We are happy to announce that this Apr 21st, 3:00 PM to 4:30 PM we will be hosting an Open House at 4457 Cove Cliff Rd in Deep Cove, North Vancouver. This is an opportunity to visit this excellent Property for sale in beautiful Deep Cove.

Please come with any questions you may have. In the meantime you can take a virtual tour of this Deep Cove Property for sale.

As always please do not hesitate to give me a call at 604-376-7653 if I can answer any questions before the open house, or if you would like to book a private showing.

Patricia Houlihan
Macdonald Realty Ltd.

Lower Lonsdale Open House!

Patricia Houlihan — Wed, 18 Apr 2012 16:01:00 -0700

We are happy to announce that this Apr 22nd, 3:00 PM to 4:30 PM we will be hosting an Open House at 421 E 4th St in Lower Lonsdale, North Vancouver. This is an opportunity to visit this excellent Property for sale in beautiful Lower Lonsdale.

Please come with any questions you may have. In the meantime you can take a virtual tour of this Lower Lonsdale Property for sale.

As always please do not hesitate to give me a call at 604-376-7653 if I can answer any questions before the open house, or if you would like to book a private showing.

Patricia Houlihan
Macdonald Realty Ltd.

4055 Cambridge Street, Burnaby, BC

Patricia Houlihan — Wed, 18 Apr 2012 13:46:44 -0700

I just sold this Property at 4055 Cambridge Street, Burnaby, BC Vancouver Heights.

View this recently sold Property or see all my home sales

Government Grants for Property Owners and Buyers

Patricia Houlihan — Mon, 16 Apr 2012 10:35:03 -0700

There are a number of grants available from Government to assist people who own or are buying property.

Here is a list of 28 of those grants, taken from Realtor Link magazine, April 5, 2012:

Top 28 grants and rebates - April 5, 2012

If you have any questions, please call me.

Patricia Houlihan
(604)376-7653

SHOES everywhere!!

Patricia Houlihan — Mon, 16 Apr 2012 10:18:47 -0700

A Super Hot Spot - Vancouver Heights
Walk to everything - never need a car.... and beautiful homes everywhere!

Lovely home but little view and list price at $1.798 million.

The open house was packed - over 100 groups I believe (I lost count around 70 something)..... these shoe pics don't really do the shoe piles justice but at the peak shoe pile times I didn't have time to take photos!

To Live or to Invest

Patricia Houlihan — Thu, 12 Apr 2012 19:04:50 -0700

I frequently read that people spend far too much time worrying about the investment potential of the places they buy to live in. Apparently this phenomena is somewhat unique to Vancouver-we are obsessed with real estate and making money off of it. A good example is a home that is currently listed on Panorama Drive in Deep Cove.

The house is tremendous value: it is waterfront, has a dock in great condition, a 3 car attached garage (most homes on the street require one to get out of the car and walk down a ton of stairs in the rain to get to their homes-and you cannot build a garage if you do not have one), some of the best outdoor space around, AND the house is bigger than you can build on most of the standard lots on the street. The one drawback is that the lot size is small. HOWEVER, most people do not use most of their lots-they only use the waterfront side of their property AND on most of the bigger lots you can only build about 2400 square feet whereas this home is almost 3000 square feet.

From a livability perspective, this house is definitely the best value around-it is under $2 million and it is waterfront with a private dock. Personally I can see why lot size is important in some locations-but on the water when the larger lot won't give you a bigger house? I don't get it....I wish this house had been available when I bought my waterfront home-which is also on a small lot but without the attached garage and dock! If buying to live in, I think we should focus on the features that make the house most livable!

Patricia
(604)376-7653