| |  | OPEN
HOUSES THIS WEEKEND |  | #401
- 1549 Kitchener Street 'Dharma Digs" Open
House - Saturday, July 5, 2pm - 4pm Open House - Sunday, July 6, 2pm - 4pm |  |  |  | #501-2525
Quebec - "Cornerstone"
Open
House - Sunday, July 6, 2pm - 4pm
|  |  |  | #305
- 1655 Grant Avenue Port Coquitlam
Open
House - Sunday, July 6, 2pm - 4pm | 
|  |  | #335
- 2033 Triumph Street Great
location just a short walk to Commercial Drive. Fabulous 1 bdrm - beautifully
renovated. Great City & Mountain Views. Perfect rental property with similar
units in the building renting for $1500/month furnished or $1200 unfurnished. Call
for your private viewing | 
| For
information about Green Real Estate and how you can make educated environmentally
friendly decisions about your home, check out my new Green
Living Section for some great Green links. Find out about grants
for Green renovations. |  | Looking
for the perfect East Vancouver Home? I specialize in the Commercial Drive Real
Estate Market as well as many other East Vancouver Neighbourhood. Whether
you are looking for a house in Commercial Drive, Grandview,Mount Pleasant, Main
Street, Strathcona, Victoria, Fraser, Fraserview, Knight, Cedar Cottage, Renfrew,
Renfrew Heights, Hastings or Hastings Sunrise - just give me a call. |  | What's
In the News... February
20, 2008 - First Time Home Buyers Program Thresholds Effective
for registrations after February 20, 2007, the fair market value threshold for
eligible residential property under the First Time Home Buyers' Program is increased
and will apply throughout the province. The new threshold
will be $425,000 which is increased from $375,000 in all areas
of the province. A proportional exemption is provided for eligible residences
that have a fair market value of up to $25,000 above the new threshold. Also,
there is no longer a requirement for 70% financing. Click here for a guide to
the Property
Transfer Tax Exemption. For more information: Government
of BC |  |  Click
Here For Full Story | The
Vancouver Sun Reports on the 15 Myths & Realities of Vancouver/Lower Mainland's
Real Estate Spring
has sprung and Lower Mainland residents' fancy has turned to real estate. Is
it time to buy or time to sell? What room should you renovate? What needs to be
landscaped? Lower
Mainland residents spend more on real estate than anywhere else in the country,
and generally, are as knowledgeable about the subject as anyone. But how much
do they really know about their homes? The
Vancouver Sun sought to challenge a few of the myths that a lot of people have,
asking the research firm Landcor Data Corp. to put real data to confirming or
dispelling those ideas. We consulted other experts, from appraisers to Realtors
and economists to answer our questions, such as whether renovating your kitchen
gives you the best lasting bang for your buck, and whether the dramatic rise the
Lower Mainland has seen in real estate prices has reached its peak. |  | Vancouver
Real Estate Market Update - May 2008( Historical
Statistics for Real Estate Board ) There
is often a lot of confusion, and misinformation about the real estate market in
Vancouver. The media likes to create "news", so often, real estate market
information is given a sensational "breaking news headline" - that perhaps
sometimes misconstrues the facts somewhat. My
attempt with this market update is to give you the facts about what has been happening
in the Vancouver market focusing on the Vancouver West Side and Vancouver East
Side. Remember, if you need an East Vancouver Realtor or someone equally familiar
with the West Side market don't hesitate to call, as I specialize in both West
Side and East Vancouver Real Estate.
| Type
of Property | AREA |
Benchmark
Price* | 1
Year Change % | 3
Year Change % | 5
Year Change % | | | | | | | |
| DETACHED |
East Vancouver Houses | |
10.6% |
52.3% |
100.0% |
| | Vancouver
West Houses | |
16.9% |
67.9% |
119.2% |
| ATTACHED | East
Vancouver | |
13.7% |
61.4% |
113.1% |
| | Vancouver
West |
$711.645 |
9.4% | 43.8% |
113.1% |
| APARTMENT | East
Vancouver | |
14.9% |
72.0% |
126.4% |
| | Vancouver
West | $496,214 |
11.5% |
51.8% |
105.0% |
*BENCHMARK PRICE:
Estimated sale price of a benchmark property. Benchmarks represent a typical property
within each market. Click
on Graph for Full 30 Year Historic Trend. | Growing
supply helps stabilize market conditions
VANCOUVER, B.C.
June 3, 2008 The Greater Vancouver housing market continued
its re-balance between sales and listings last month. The Real Estate Board of
Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver
declined 30.7 per cent in May 2008 to 3,002 from the 4,331 sales recorded in May
2007.
New listings for detached, attached and apartment properties increased
20.2 per cent to 7,390 in May 2008 compared to May 2007, when 6,149 new units
were listed.
With more property listings and a decline in the number
of sales, prices are not increasing as rapidly, now down to single digits overall,
which is good news from an affordability standpoint, said REBGV president,
Dave Watt. The housing market is at a balanced state, sellers have more
competition and buyers have more selection to choose from.
Sales
of detached properties in May 2008 declined 33.4 per cent to 1,203 from the 1,805
sales recorded during the same period in 2007. The benchmark price, as calculated
by the MLSLink Housing Price Index®, for detached properties rose 8.4 per
cent from May 2007 to $771,250. Sales of apartment properties declined 30.5
per cent last month to 1,244, compared to 1,789 sales in May 2007. The benchmark
price of an apartment property increased 8.7 per cent from May 2007 to $389,668.
Attached
property sales in May 2008 decreased 24.7 per cent to 555, compared with the 737
sales in May 2007. The benchmark price of an attached unit increased 9 per cent
between May 2007 and 2008 to $478,931.
Bright spots in Greater Vancouver
in May 2008 compared to May 2007: Attached: Coquitlam..............................................up
45.2 per cent (45 units sold from 31) Apartments: New Westminster................................up
13.6 per cent (100 units sold from 88) The
Real Estate industry is a key economic driver in British Columbia. In 2007, 38,050
homes changed hands in the Boards area generating $1.065 billion in spin-offs.
Total dollar volume of residential sales set a new record at $22.25 billion and
total dollar volume of all sales set a record at $22.77 billion. The Real Estate
Board of Greater Vancouver is an association representing more than 9,500 REALTORS®.
The Real Estate Board provides a variety of membership services, including the
Multiple Listing Service®. *In August 2004, the Greater Vancouver and
Fraser Valley boards upgraded our existing MLS systems to a common system called
MLSLink. MLSLink® HPI is the latest version of the Boards Housing Price
Index (HPI) and is designed to accommodate the MLS upgrade and improve the legacy
HPI product. For more information on real estate, statistics, and buying or selling
a home, www.realtylink.org.
Information
provided with permission by the Real Estate Board of Greater Vancouver (REBGV) |
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