Monday, April 27, 2009
Done Deal: condo sold in the West End - The Globe and Mail -
1355 Harwood., Unit 516
Asking price: $429,000
Selling price: $436,900
Days on market: 8
This condo was recently sold by Peter Raab, Vancouver real Estate Agent after only one weekend on the public market.
This is a clear sign that the market has picked up and we are in a busy spring market where 'hot' properties are selling in and around asking price after one weekend on the public market.
The one bedroom condo in the Westend has a huge south facing patio, a renovated kitchen and open concept living/dining room.
For more information, see the article in The Globe and Mail
Real Estate Agent: Peter Raab, Royal LePage Westside
Vancouver, B.C., Canada
Labels: condos for sale in the West End, condos sold in the Westend, Vancouver Real Estate, Westend real estate agents
Friday, April 24, 2009
Penthouse condo sold in Kitsilano
P6 1827 West 3rd just sold for 97% of the asking price in Kitsilano, Vancouver West.
The Penthouse loft condo was 973 square feet on two levels. One bedroom on the top level and the 2nd bedroom on the main floor.
The
condo for sale in Kitsilano was completely renovated with new hardwood floors, fresh paint, new kitchen and bathroom.
This
condo in Kitsilano was one block from 4th avenue and only a short stroll to Kits beach, Kits pool and all the funky shops and restaurants in Kitsilano.
For an evaluation on your
condo in Kitsilano, contact:
Peter Raab
Kitsilano resident and Kitsilano real estate expert
Labels: condos for sale in Kitsilano, Kitsilano condos for sale, Kitsilano real estate, kitsilano real estate agent
Open houses in Kitsilano
For the weekend of April 25th and April 26th 2009
108 1750 Maple Street, Kitsilano, Vancouver West.
$334,900
720 sq feet on the ground floor with a beautiful garden off the living room.
This building is located on 1st and Maple, only 2 blocks from Kits beach and 2 block to 4th ave.
Open house April 26th from 2:00-4:00pm
202 2110 Cornwall Ave, Kitsilano, Vancouver West
$339,900
648 square feet
Located across the street from Kits Beach and Kits pool.
Open House Sunday April 26th from 2:00-4:00pm
For more information on open houses in Kitsilano or condos for sale in Kitsilano contact:
Peter Raab
Kitsilano Real Estate Agent
Tuesday, April 21, 2009
Penthouse condo sold in the Westend
I just sold a one bedroom penthouse condo in the
Westend
516 1355 Harwood Street, Westend, Downtown Vancouver
1 bedroom, 1 bathroom
739 square feet
Sold for 101% of the asking price in one weekend
The condo in the Westend is only one block from English Beach, in the heart of the Westend. Walking distance to Stanley Park, Yaletown, all the funky shops on Denman Street and Robson Street.
If you would like further information on condos for sale in the Westend contact:
Peter Raab
Vancouver Real Estate Expert
Westend Real Estate Agent
Labels: condos for sale downtown vancouver, condos for sale in the West End, penthouse for sale Westend, Vancouver Real Estate, Vancouver real estate for sale, Westend real estate agents
Home ownership is now more affordable for Canadians
The Royal Bank of Canada said the cost of owning a home went down in the last three months of 2008, after rising since 2004.
Mortgage rates are consuming less income of Canadian households thanks to the low interest rates and decrease in housing prices. This trend is expected to continue in the near future, a new survey from RBC suggests.
The study showed that Vancouver still remained the least affordable city, where is took 70.3 per cent of pre-tax faminly income to own a home, compared to 51.3 per cent in Toronto, 42.7 per cent in Calgary, 42.7 per cent in Ottawa and 39.4 per cent in Montreal.
RBC economist Robert Hogue said in the first quarter of 2009, house prices have fallen further, as have mortgage rates, which is very good news for homeowners and new buyers looking to purchase their first home.
Hogue believes that going forward, low interest rates will continue to keep the housing market strong.
Click here for more of this article
Peter Raab
Vancouver Real Estate Agent
Kitsilano, downtown Vancouver, Fairview Slopes, False Creek North, Coal Harbour and the Westend.
Labels: real estate vancouver market update, Vancouver market update, Vancouver Real Estate, Vancouver Real estate market update
Yaletown's The Beasley sells out
It looks like the marketing campaign worked for selling the remaining 70 condos for sale in
Yaletown at The Beasley development.
Amacon's plan to pass on construction cost savings to
Yaletown buyers has led to the sellout. The marketing campaign was titled "Pass it on", and was an aggressive marketing initiative led by MAC Marketing Solutions.
With very low prices and historically low interest rates, people recognize that this is a great time to buy a home.
The "Pass it on" campaign was made possible after Amacon spent months negotiating with their contractors and suppliers. When Amacon reviewed the construction costs they could save, they decided to pass on the savings to the pre-sale buyers of The Beasley. The significant savings were offered to new and original purchasers. The brand new Yaletown condos started at $219,900 CAD. For many original home buyers, this decision by Amacon deducted on average $100,000 - $250,000 from their initial purchase price. A 552 square foot one - bedroom originally priced at $449,900 sold for $314,900 and a 930 square foot two-bedroom originally priced at $766,900 sold for $491,900.
For more information on new developments in Yaletown or condos for sale in Yaletown contact:
Peter Raab
Yaletown real estate agent
Vancouver Real Estate
Labels: condos for sale in Yaletown, new condo developments in Vancouver, The Beasley, Vancouver Real Estate, Yaletown real estate agent
Friday, April 17, 2009
Open Houses in the West End
I will be hosting an open house this Saturday April 18th and Sunday April 19th from 2:00-4:00pm
516 1255 Harwood Street
Located in the West End in Downtown Vancouver. One block from English Beach.
1 bedroom with 1 bathroom
739 square feet
3 dogs or three cats allowed but no rentals permitted.
This is what you've been waiting for; the ultimate one bedroom Penthouse in the West End. Renovated with style, this large open floor plan features skylights in the living room and kitchen, designer paint throughout, S/S appliances, quartz countertop with a beautiful wood burning fireplace. You will fall in love with the huge 300 sq ft private SOUTH facing deck which you can enter from the living room and the bedroom. Bonus 10'x5' dry storage shed on the patio. One parking & one underground storage locker included.
Solid building, new roof '02, new plumbing '05, very well run with a residential caretaker.
Peter Raab
Vancouver real estate agent
Specializing in buying and selling condos in the West End, Kitsilano and Downtown Vancouver.
Labels: condos for sale in the West End, Condos for sale westend, Penthouse for sale downtown Vancouver, penthouse for sale Westend, vancouver real estate agent
Monday, April 13, 2009
Kitsilano Market Update March 2009
Vancouver Real Estate Market Update:
Kitsilano Market Update for March 2009
Kitsilano condos saw sales more than double in February 2009, compared to January 2009. February sae the highest numbers of sales in Kitsilano since July 2008 when the market heading into decline.
The number of new condos for sale in Kitsilano remained flat at 107 from 104 in January and the average sale price for condos in Kitsilano was $417,000.
Average days on market for sold condos in Kitsilano is down to 38 days.
The entry level market is driving real estate in Kitsilano right now with 23 of 28 sales below $500,000.
The condo supply is down from 9 months to 3.8 months which means we are at the bottom of the economic cycle. Expect to see a very active real estate market in Kitsilano in April and through the spring.
Peter Raab
Kitsilano real estate agents
Vancouver real estate agents
Labels: kitsilano real estate agents, Kitsilano real estate market update, Vancouver Real Estate, Vancouver Real estate market update
Friday, April 10, 2009
Open House in Kitsilano - Loft Penthouse -
I will be hosting an open house Saturday April 11th and Sunday April 12th from 2:00-3:30
P6 1827 West 3rd Ave
In
Kitsilano between Burrard and Cypress
2 level, 2 bedroom Penthouse Loft with City and Mountain Views.
Totally renovated with Hardwood floors, new carpet in the bedrooms and loft space, Silestone counter tops in the kitchen and bathroom with an enclosed steam shower.
Peter Raab
Your Kitsilano real estate agent
Labels: Kitsilano real estate, kitsilano real estate agent, Open houses in Kits, Open houses in Kitsilano, open houses vancouver, Vancouver Real Estate
Thursday, April 09, 2009
Adding a heritage touch to apartments in Kitsilano
Recently the Connaught Apartments on West Broadway in
Kitsilano received a welcome facelift. John Michas restored his century old apartment block at Broadway and Vine in
Kitsilano by replaced the asbestors shingles with 1911 wood siding and rather than repairing the kitchen cabinets, he stripped and restored them.
It's costly to do things this way, and time-consuming. But the results are extraordinary.
The halls have the original fir wainscotting, a little nicked from 98 years of people moving in and out but still drop-dead gorgeous. The halls are lit by vintage lighting, and retain the original fir floors, covered in handsome area rugs.
The detailing in the apartments is the same: fir wainscotting in the front hall, fir floors throughout, and natural fir kitchen cabinets.
Each apartment comes with a big antique clawfoot bathtub, picture rails and working sash windows which open up from both the bottom and the top. Some bathrooms have marble floors, and skylights. Most apartments have funky old gas stoves, and all are heated with old-style radiators.
See the rest of the article in the Vancouver Sun
Peter Raab
Kitsilano resident and Kitsilano real estate agent.
Labels: kitsilano, kitsilano real estate agent, kitsilano real estate agents, living in kitsilano
Wednesday, April 08, 2009
Vancouver real estate market update Spring 2009
The Vancouver real estate market continued the shift from uncertainty to stability as the spring market gets underway. As we round the bottom of the curve in the market cycle, activity is picking up to normal levels with 2,265 sales recorded across Metro Vancouver in March, a 53 per cent increase over February but a 24.4 decrease near the height of the market in March 2008 when 2,997 sales were recorded. Leading this charge are the First Fime Homebuyers who are taking advantage of low interest rates, more affordable prices and added selection on the market.
Market analysts are predicting a modest decrease in over all price before the end of the year however don't expect to see any listings in the entry level range to drop anymore. Due to the current demand we are seeing a few one bedroom condo's daily sell above asking price in multiple offers. However, the high end, luxury real estate is still in decline and I expect to see this drop another 10%.
"There's more confidence in the housing market today than we were seeing late last year. Sales activity is rising to more typical levels given the season, and the number of homes being listed for sale is leveling off," said Scott Russell, president of the
Real Estate Board of Greater Vancouver.
Right now I see the biggest opportunity in selling a one bedroom and moving up to a two plus bedroom condo. More specifically, there is a high demand in the $300-$400k range and much less demand in the $600 and beyond range with lots choose from.
The entry level housing market has also experienced a significant with new, well priced listings selling quickly for very close to the asking price.
Hopefully we'll see a solid burst of entry level condo's and homes hit the market in the next short while to balance the hungry buyers who have been sitting on the sidelines for the past 6 months.
Peter Raab
Vancouver Real Estate Agent
Labels: downtown Vancouver real estate, vancouver housing market update, vancouver real estate expert, Vancouver Real estate market update
Monday, April 06, 2009
Vancouver Real Estate Market picks up but Vancouver condo developers feeling the pinch
Although the number of
Vancouver real estate sales may have bounced back this spring, they are still not to the level they were in 2008 and neither are the prices. What is clearly up is the number of condominium developers going into receivership.
The pattern has been that the developer runs out of money, the lender goes to court and has a receiver appointed and the receiver finishes the building and get teh best price it can for the units. Other developers seek credit protection, asking the court for time to get their financial houses in order before the lender comes knocking.
Most of the developers got into trouble when credit markets seized up in 2008, says Parry Prentice, senior vice-president at Ernst & Young Inc., which is acting as receiver for the Resort at Copper Point in Invermere.
The Sophia condominium project on east 11th Avenue in Vancouver was pushed into Bankruptcy when cost overruns of $4 million meant the pre-sale prices asked when the units were marketed in 2005 and 2006 wouldn't cover the costs.
When the Bowra Group stepped in, purchasers were given two options, either pay more for their units or get their deposits back. Half chose to stay and the other half chose to go, Bowra said.
Earlier this week, the remaining units went on sale for 25% less than the original asking price meaning you could buy a brand new condo for under $300,000 including GST.
For more information see the article in the Vancouver Sun
Peter Raab
Vancouver Real Estate Agent
Specializing in buying and selling real estate in downtown Vancouver, Kitsilano and Vancouver's Westside.
Labels: Bowra Group, new condo developments in Vancouver, real estate vancouver market update, vancouver condos, Vancouver Real Estate
Saturday, April 04, 2009
Vancouver Real Estate Market Update
Changes are taking place in the Vancouver Real Estate Market
On April 2nd 2009, The Real Estate Board of Greater Vancouver reported an astonishing 53 per cent increase in sales in March over sales in February.
If you average out the past 10 years, there was a 31 percent increase in sale in March over the previous month.
This clearly indicates the Vancouver Real Estate market has turned the downward curve and that people are much more willing to buy homes in Vancouver.
Another factor might be that sellers have not only adjusted their expectations but also their prices to match Vancouver real estate market conditions.
Over the past two months, the increase in sales volume month over month has significantly outperformed the norm.
For more information see the article in The Georgia Straight
For more information on the Vancouver real estate market contact:
Peter Raab
Vancouver real estate agent
Vancouver real estate expert
Labels: downtown Vancouver real estate, real estate agent Vancouver, vancouver real estate agent, vancouver real estate market conditions, Vancouver Real estate market update
Open Houses in Kitsilano
I will be hosting an open house Sunday April 4th from 2:00-3:30
P6 1827 West 3rd Ave
In Kitsilano between Burrard and Cypress
2 level, 2 bedroom Penthouse Loft with City and Mountain Views.
Totally renovated with Hardwood floors, new carpet in the bedrooms and loft space, Silestone counter tops in the kitchen and bathroom with an enclosed steam shower.
This is a rare find in Kitsilano, north of 4th and only a short walk to
Kits beach.
For more information on this condo in Kitsilano contact:
Peter Raab
Kitsilano Real Estate Agent
Vancouver Real Estate Agent
Labels: condos for sale in Kitsilano, kitsilano real estate agents, Open houses in Kits, Open houses in Kitsilano, vancouver real estate agent
Thursday, April 02, 2009
Vancouver Real Estate sales jump 53 per cent in March
Vancouver Market Update:
Real estate sales have bounced back in March compared to February, up 53 per cent in Metro Vancouver, 48 per cent in the Fraser Valley and 34 per cent on Vancouver Island.
Moreover, in some areas prices showed signs of recovery as well.
The numbers are still down significantly from last March but are still encouraging, said Paul Penner, president of the Fraser Valley Real Estate Board, where prices have eked up slightly.
Vancouver area sales jumped the most among the boards reporting numbers Thursday, yet volumes were also down about 24 per cent from last March. And benchmark prices were down month over month for detached homes and townhomes, though not for condominiums.
In March the benchmark price for a detached home in Greater Vancouver - which extends from Squamish to South Delta and Pitt Meadows - was $649,342, down from $653,452 in February, and 15 per cent lower than it was in March 2008.
Townhouses were $420,563 in March, compared to $426,268 a month earlier, and 11 per cent cheaper than in 2008.
Condominium prices went from $333,134 in February to $337,099 in March, which was 13.5 per cent lower than a year earlier.
From the Vancouver Sun
Peter Raab
Vancouver Real Estate Agent
Labels: real estate vancouver, real estate vancouver market update, Vancouver Real Estate, Vancouver Real estate market update
Wednesday, April 01, 2009
Condos for sale in Kitsilano
I will be hosting an open house for a Penthouse Loft Condo in
Kitsilano.
Sunday April 5th from 2:00-3:30
P6 1827 West 3rd Ave,
Kitsilano, Vancouver West.
2 levels with one bedroom on the main level and the second bedroom on the second level.
One bathroom with a steam shower to relax after a long days work.
A total of 973 square feet on both levels
The unit is north of 4th in the heart of Kitsilano, one block from 4th ave. and only a few blocks from Kits beach and Kits pool.
Only a short drive to downtown Vancouver with views of the North Shore mountains and City Views from the balcony.
One dog or one cat allowed and rentals are restricted.
For more information on condo's for sale in Kitsilano or open houses in Kitsilano contact:
Peter Raab
Vancouver Real Estate Agent
Kitsilano Real Estate Agent
Labels: condos for sale kitsilano, kitsilano real estate agents, Open houses in Kitsilano, real estate agent Vancouver
1355 Harwood., Unit 516 
