Friday, September 19, 2008
Open house in Yaletown, Downtown Vancouver
2106 1188 Richards Street
1 bedroom plus den with 1 bathroom
615 square feet
Enjoy magnificent views of the False Creek in this central Yaletown location. One block from the heart of Yaletown, half a block from Choices Market and Blendz Coffee shop.
Brand new Brazilian Cherry hardwood flooring with fresh paint make this home ready to move in. BONUS TWO PARKING STALLS with an external storage locker. Live with peace of mind in this recently RAINSCREENED building which is under warranty. Enjoy the best Yaletown has to offer, only a few blocks to the Seawall, all the funky shops, restaurants, the downtown core and right across the street from Emery Barns Park.
OPEN HOUSE SUNDAY SEPT 19TH FROM 2:30-4:00
For more information on open houses, condos for sale in Yaletown or Vancouver real estate contact:
Peter Raab
Vancouver real estate agent
Specializing in buying and selling homes and condos in Downtown Vancouver, Yaletown, Kitsilano, East Vancouver and the Westside
Labels: Buying in Vancouver, condo's for sale Yaletown, condos for sale downtown vancouver, downtown Vancouver real estate, real estate vancouver, vancouver real estate agent
Thursday, September 11, 2008
Vancouver Real Estate Market Update September 2008
Summertime lull sees properties stay on the Vancouver Real Estate Market
Labour Day weekend is now behind us, the kids have started school but we're still getting blessed with some amazing weather. I hope you're enjoying it because we all know what's coming next month and for the next 6 months; snow in the mountains!
This summer the Vancouver Real Estate market experienced something we haven't seen in 7 years - a lull in the market. From April through the summer we saw a huge amount of inventory hit the market - almost 40% more than the previous year. To make matters worse for those selling; it seemed like most buyers went on a summer long vacation as most inventory sat on the market for most of the summer.
Two things happened with all these listings; 1. They reduced their selling price to entice buyers, which in turn caused most other listings to do the same in order to remain competitive. This caused a ripple effect across the board resulting in a 2-3% drop in housing prices in Greater Vancouver. This is huge news as we've witness double-digit price increases for the past 5 years and has created lots of news, especially with all the doomsayers. I've read all sorts of reports in the newspapers and on the Internet saying we're in for a major market correction. I disagree; what we experienced was a normal lull in the market. This is very typical of summertime. I think we've been so used to the market firing at lightening speed that this scared many people including many realtors. In the past 2 weeks we've already seen the market pick up considerably with 'hot' properties selling at asking price and even above asking price in some cases.
What's in store for us this fall?
For sellers: We are in a buyers market and you can no longer list your home or condo according to the last comparable sale in the building or block. There are lots of other competing homes out there for buyers to choose from; you must make your home stand out from the rest - price, presentation and marketing are key here. For those sellers who have had their homes on the market for a few months, you're not alone, however a price reduction might be in order to get up to speed with your competition. Remember, you have to separate emotion from your decision - it's very difficult to sell at the peak and although we've seen a 2-3% decline in the market, you'll still be making alot of money on your investment when selling.
For buyers: Finally the ball is in your court . As mentioned, we've seen lots of new listings hit the market over the summer and most of it has sat there waiting to be purchased. There are lots of great deals and there and lots of sellers who are very anxious to sell. In saying that, the good properties are moving quickly so don't hesitate - if you see something that is perfect for you make an offer because if not someone else will.
Overall, my prediction for this fall in the Vancouver real estate market is most of the good listings that have been on the market for the past few months will get purchased as we enter the final busy time of the year. Sellers who haven't adjusted their prices accordingly will have to either pull their listings off the market or make some significant price reductions to compete with all the other comparable listings for sale.
Labels: downtown Vancouver real estate, real estate vancouver, vancouver real estate agent, Vancouver Real estate market update
Tuesday, September 09, 2008
Two Harbour Green has completed
The prestigious Harbour Green Two development has completed right on schedule.
Located at 1139 West Cordova in
Coal Harbour; this is the second of three Harbour Green Waterfront buildings on
Vancouver's world class downtown waterfront.
I will be selling one of these spectacular suites by the of September 2008.
903 1139 West Cordova street
Coal Harbour, downtown Vancouver
2400 square feet on 2 levels
2 bedrooms with 3 bathrooms
2 secured, underground parking stalls with one external storage locker.
The kitchen features only the highest end finishings with Cabinetry by Snaidero of Italy, Italian porcelain floor tiles, polished granite countertops, stainless steel sub-zero refrigerator, Miele gas cooktop, convection oven and dishwasher, Kohler pull and spray faucet and built-in water purification system.
The bathrooms feature thermostatically controlled in-floor heating, Kohler undermount basins and Kohler low profile toilet with Purist faucet fittings.
Other features include ultra quiet central heating, air conditioning and ventilation system, fibre optic high speed communications all built within a solid concrete construction.
Full 24 hour concierge with 24 hour security monitoring systems.
For more information on Two Harbour Green contact:
Peter Raab
Vancouver real estate agent
Downtown Vancouver, Coal Harbour and Vancouver West.
Labels: Coal Harbour condo's, downtown Vancouver real estate, Harbour Green One, harbour green two, listings two harbour green, One Harbour Green, real estate downtown Vancouver, Three Harbour Green
Vancouver Real Estate: A window of opportunity
Real estate prices in Vancouver have dropped. Sales of detached properties in July 2008 declined 44.2 per cent from the previous year and the overall residential properties sales in Vancouver declined 43.9 per cent. This is the first significant decline in the housing market in almost ten years, and for some people this is good news.
For many Vancouverites, now is an ideal time to invest in Vancouver Real Estate. Over the last ten years the prices of property have soared, sometimes 15-20 percent a year, to unimaginable highs particularly in the downtown core-it is no surprise that may people in Vancouver cannot afford to purchase a home. But there is currently a window in the market boom allowing many first-time buyers the potential to buy a home.
In an article in the Globe and Mail, economist Merrill Lynch points out that, "it's pretty clear that things are weakening and they're going to continue weakening for some time." The article continues, "In BC, Vancouver's and Victoria's housing markets are now as much as 35 per cent overvalued." Although this is not good new for investors and sellers, for those looking to break into the market, now may be the time. In July of this year, approximately 20,000 homes were for sale in Vancouver, compared to 12,000 this time last year, making this year definitely a buyer's market.
Because of the steady price increases, many potential homeowners apply for the equivalent of what VanCity calls a "Mixer Mortgage". Mortgage lenders acknowledge the continual rise in prices has prevented may people from purchasing and so have developed new mortgage options. This new style of co-mortgaging enables non-married people to pool their resources and qualify for a mortgage. Now those who otherwise couldn't afford to buy have an opportunity to invest in property. This option teamed with a current drop in the market puts many Vancouver residents in a prime position to buy.
Although buying a property for the first time can be intimidating, I am dedicated to making sure you find the perfect home for you. If you are looking to invest in Downtown Real Estate or in the Kits Real Estate now is your window of opportunity.
Sunday, September 07, 2008
Kitsilano condo just sold
110 2250 West 3rd ave., in
Kitsilano (
Vancouver, B.C.).
Henley Park
1 bedroom, 1 bathroom with 3 patio's in a rainscreened building.
This condo is in the best location in
Kitsilano; steps from Capers, Safeway, Market Meats all the trendy shops on 4th ave in
Kits and a few blocks from
Kits beach and
kits pool.
For more information in condo's for sale in
kitsilano contact:
Peter Raab
Vancouver Real Estate Agent
Kitsilano resident and
Kitsilano real estate agent Labels: condos for sale in Kitsilano, downtown Vancouver real estate, kits condo's, Kitsilano real estate, kitsilano real estate agents, real estate Kitsilano, real estate vancouver
2106 1188 Richards Street 
