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-Stunning southwest views of the Burrard Inlet, Stanley Park and downtown
Vancouver from this exclusive waterfront development.
-Custom designed electric fireplace with
granite mantle
-Baseboard and...
| Blogs Categories Posts By Date Thursday, November 6, 2008 Residential housing price decline creates buying opportunitiesby Matt France (RE/MAX Masters Realty) on Thu, Nov, 6, 2008 06:51 PM
VANCOUVER, B.C. – November 3, 2008 – Housing price reductions across Greater Vancouver over the last six months have eliminated price gains witnessed in the first quarter of 2008.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential benchmark prices, as calculated by the MLSLink Housing Price Index®, declined 8.8 per cent between May and October 2008, resulting in a 3.9 per cent year-to-date price reduction for detached, attached and apartment properties in Greater Vancouver between Octobers 2007 and 2008. In May 2008, the overall residential benchmark price was $568,411, compared to $518,668 in October 2008.
“Home sales are not keeping pace with the positive economic conditions in BC,” said REBGV president, Dave Watt. “That’s a direct result of a loss of consumer confidence in the overall market. Accordingly, today’s housing market is characterized by moderating home prices and wide selection. It’s definitely a buyer’s market.”
Residential property sales in Greater Vancouver declined 55 per cent in October 2008 to 1,364 from the 3,028 sales recorded in October 2007.
Active listings totaled 19,257 in October 2008, a three per cent decline from the 19,852 active listings reported in September 2008. New listings for detached, attached and apartment properties increased one per cent to 4,867 in October 2008 compared to October 2007, when 4,819 new units were listed.
Sales of detached properties in October 2008 declined 56.5 per cent to 493 from the 1,133 sales recorded during the same period in 2007. The benchmark price for detached properties declined 4.7 per cent from October 2007 to $695,962. Since May 2008, the benchmark price for a detached property in Greater Vancouver has declined 9.8 per cent.
Sales of apartment properties in October 2008 declined 52.7 per cent to 647, compared to 1,368 sales in October 2007. The benchmark price of an apartment property declined 3.5 per cent from October 2007 to $358,359. Since May 2008, the benchmark price for an apartment property in Greater Vancouver has declined eight per cent.
Attached property sales in October 2008 are down 57.5 per cent to 224, compared with the 527 sales in October 2007. The benchmark price of an attached unit declined 1.4 per cent in Greater Vancouver between October 2007 and 2008 to $448,152. Since May 2008, the benchmark price for an attached property in Greater Vancouver has declined 6.4 per cent.
Sunday, November 2, 2008 I have sold a property at #2003 - 120 MILROSS AV, VANCOUVER EAST, MOUNT PLEASANT VEby Matt France (RE/MAX Masters Realty) on Sun, Nov, 2, 2008 04:00 AM 
I have sold a property at #2003 - 120 MILROSS AV, VANCOUVER EAST, MOUNT PLEASANT VE .
Very bright open floor plan corner unit at Brighton Bosa built. Size of 2 bed
777 sf 1 bed + den + 150 SQ.FT. balcony. Steps to Seawall, parks, theaters,
transit & Olympic Village. Granite countertop, hardwood floor update, great
amenities, gas fireplace. This waterfront property on False Creek provides
uncompromised lifestyle in the heart of the city. The urban renewal in the
surrounding areas. Olympic Village and Chinatown creates an opportunity for an
excellent return on your investment. Easy to show.
Sunday, November 2, 2008 I have sold a property at 1314-610 GRANVILLE ST VANCOUVER WEST, DOWNTOWN VW in Vancouverby Matt France (RE/MAX Masters Realty) on Sun, Nov, 2, 2008 04:00 AM Categories: Vancouver 
I have sold a property at 1314-610 GRANVILLE ST VANCOUVER WEST, DOWNTOWN VW in Vancouver.
Location, location, location! Bright & spacious 1-Bedroom + Den in the
Hudson located in the heart of Downtown in the business district. Situated
directly across Pacific Centre Mall & minutes from the skytrain. Everything
at your doorstep. This build is dual-zoned for work & live. Enjoy the extra
large balcony overlooking the city. Building has 23-hour concierge with
amenities including fitness centre & luxurious lounge. Solid investment.
Currently tenanted at $1,500/month. Near the financial district, restaurants,
shopping and entertainment.
Sunday, November 2, 2008 I have sold a property at #18 - 21535 88TH AVE LANGLEY, WALNUT GROVEby Matt France (RE/MAX Masters Realty) on Sun, Nov, 2, 2008 04:00 AM 
I have sold a property at #18 - 21535 88TH AVE LANGLEY, WALNUT GROVE .
Walnut Grove's Redwood Lane features a 3 bedroom and games room townhouse filled
with luxury including double garage, granite countertops, upgraded stainless
steel appliances, extensive use of laminate, alarm system, additional door in
garage for access to storage and large fully fenced yard.
Sunday, November 2, 2008 I have sold a property at 2610 HENRY STREET, Port Moody, Port Moody Centre in Port Moody, Port Moody Centreby Matt France (RE/MAX Masters Realty) on Sun, Nov, 2, 2008 04:00 AM Categories: Port Moody, Port Moody Centre 
I have sold a property at 2610 HENRY STREET, Port Moody, Port Moody Centre in Port Moody, Port Moody Centre.
Fabulous Heritage home lovingly restored to modern standards. Front
door under a covered porch leads to the entry foyer with spindle &
banister handrail leading upstairs. Leaded glass french doors lead to
living room with rustic fir floors, window and door casings, crown
mouldings, and wood fireplace with mantle. Kitchen is a contemproary
"Cook's Kitchen" with oak cabinets, corian counters, desk and pantry,
bay window seats and centre island. Master bedroom has modern 3 piece
ensuite and private deck with inlet and mountain view. Built-in office
workstation and family room downstairs. A massive deck at the rear
accesses the above ground pool, and a path leads to the 800 sq. ft.
workshop on the back lane.
Sunday, November 2, 2008 I have sold a property at # 2405 550 TAYLOR ST in Vancouverby Matt France (RE/MAX Masters Realty) on Sun, Nov, 2, 2008 04:00 AM Categories: Downtown VW, Vancouver West 
I have sold a property at # 2405 550 TAYLOR ST in Vancouver.
AMAZING PATIO! This sub-penthouse has a 74 sq ft patio & an amazing 594 sf wrap around terraced patio which has sweeping views of the North Shore mountains, Vancouver ports, Mt Baker, Burnaby, False Creek, the new Olympic Village site, GM Place, and downtown Vancouver. The patio is great for entertaining guests or just to relax on. Hurry!!
Sunday, November 2, 2008 I have sold a property at # 306 535 NICOLA ST in Vancouverby Matt France (RE/MAX Masters Realty) on Sun, Nov, 2, 2008 04:00 AM Categories: Coal Harbour, Vancouver West 
I have sold a property at # 306 535 NICOLA ST in Vancouver.
Spectacular views looking north from the balcony. Offering a master bedroom, a pantry room or storage room, a living room, a dining area, and a well laid out kitchen.The Bauhinia waterfront building has great amenities, is steps away from Sea Wall, has Carderos Restaurant across the street, has a marina across the street, and is in an exclusive neighbourhood. Great value! This sale has been set down to be heard in court at the VANCOUVER courthouse, 800 Smithe Street, Vancouver, British Columbia V6E 2E1, on Thursday, September 11 2008. Court starting time is normally 9:45 am.
Sunday, November 2, 2008 New property listed in North Vancouverby Matt France (RE/MAX Masters Realty) on Sun, Nov, 2, 2008 04:00 AM Categories: North Vancouver 
I have listed a new property at 702 - 133 East Esplanade Street in North Vancouver.
ELITE FEATURES INCLUDE:
-Stunning southwest views of the Burrard Inlet, Stanley Park and downtown
Vancouver from this exclusive waterfront development.
SIGNATURE INTERIORS:
-All suites air-conditioned
-Custom designed electric fireplace with
granite mantle
-Baseboard and crown molding
-Designer carpet with
hardwood/porcelain tile option
-Custom stained wood entry door to
suite
-In-suite laundry
GOURMET KITCHEN:
-Granite countertops
-Porcelain tile floor
-Designer cabinetry with
convenient blumotion drawer and hinges
-LIEBHERR stainless refrigerator with
bottom freezer and ice-maker
-Bosch four burner gas cook top
-Bosch
built-in wall oven
-Bosch microwave oven and hood fan
-Bosch fully
integrated dishwasher
-Dual stainless steel undermount sink
-Kohler single
faucet with integrated pull-out spray
-Convenient in-sink water
disposal
-Contemporary recessed pot lighting
-Pendent lighting over
breakfast bar
ELEGANT BATHROOMS:
-Designer cabinetry and vanities with granite/marble
countertops
-Porcelain tile floor
-Kohler undermount porcelain
sink
-Custom designed framed mirror
-Stylish Kohler polished chrome faucet
and bathroom accessories
-Kohler elongated water closet
-Luxurious soaker
tub with tile surround and accent
-Glass walk-in shower with tile surround
and accent
-Recessed pot lighting
Thursday, October 2, 2008 Home prices adapt to affordability demandsby Matt France (RE/MAX Masters Realty) on Thu, Oct, 2, 2008 01:42 PM
VANCOUVER, B.C. – October 2, 2008 – The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver declined 42.9 per cent in September 2008 to 1,585 from the 2,776 sales recorded in September 2007.
New listings for detached, attached and apartment properties increased 28.8 per cent to 6,142 in September 2008 compared to September 2007, when 4,770 new units were listed.
“After five years of unprecedented increases, housing prices are beginning to realign,” REBGV president, Dave Watt said. “Although the economic situation in the United States has affected consumer confidence globally, the consensus view remains that our local housing market is underpinned by solid economic fundamentals.”
Sales of detached properties in September 2008 declined 50.3 per cent to 546 from the 1,099 units sold during the same period in 2007. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties declined 1.6 per cent from September 2007 to $726,331. Since May 2008, the benchmark price for a detached property in Greater Vancouver has declined 5.8 per cent.
Sales of apartment properties declined 35.1 per cent last month to 764, compared to 1,177 sales in September 2007. The benchmark price of an apartment property declined 0.7 per cent from September 2007 to $369,062. Since May 2008, the benchmark price for an apartment property in Greater Vancouver has declined 5.2 per cent.
Attached property sales in September 2008 decreased 41.9 per cent to 450, compared with the 775 sales in June 2007. The benchmark price of an attached unit increased 7.6 per cent between June 2007 and 2008 to $476,585. Since May 2008, the benchmark price for an attached property in Greater Vancouver has declined 3 per cent.  Thursday, September 4, 2008 Summer lull sees properties stay on marketby Matt France (RE/MAX Masters Realty) on Thu, Sep, 4, 2008 04:13 PM
Vancouver B.C. – September 3, 2008 - The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totaled 1,568 in August 2008, a decline of 53.7 per cent from the 3,384 sales in August 2007, and a 47.7 per cent reduction from the 2,998 sales recorded in August 2006.
New listings for detached, attached and apartment properties declined 1.7 per cent to 4,331 in August 2008 compared to August 2007, when 4,408 new units were listed.
“In August, properties on average remained on the market longer than we’ve seen in recent years,” REBGV president, Dave Watt said. “As the market heads into the traditionally more active fall season, we have begun to see property listings recede and prices moderate.”
Sales of detached properties declined 58.5 per cent to 535 in August 2008 from the 1,288 detached sales recorded during the same period in 2007. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties rose 1.6 per cent from August 2007 to $737,985. Since May 2008, the benchmark price for a detached property in Greater Vancouver has declined 4.3 per cent.
Sales of apartment properties in August 2008 declined 50.8 per cent to 740, compared to 1,504 sales in August 2007. The benchmark price of an apartment property increased 1.7 per cent from August 2007 to $374,366. Since May 2008, the benchmark price for an apartment property in Greater Vancouver has declined 3.9 per cent.
Attached property sales in August 2008 are down 50.5 per cent to 293, compared with the 592 sales in August 2007. The benchmark price of an attached unit increased 3.8 per cent in Greater Vancouver between August 2007 and 2008 to $463,433. Since May 2008, the benchmark price for an attached property in Greater Vancouver has declined 3.2 per cent.
As of August 31, 2008, active residential listings totaled 17,950 in Greater Vancouver, a 6.2 per cent decline from the 19,138 active listings seen on July 31, 2008. Wednesday, August 27, 2008 Month-over-month housing prices retreat from record highsby Matt France (RE/MAX Masters Realty) on Wed, Aug, 27, 2008 08:42 PM VANCOUVER, B.C. – Aug 5, 2008 – As property listings continue to outpace sales, Greater Vancouver housing prices have drawn back, the last two months, from the record highs experienced in early 2008.
Since May 2008, housing prices, as calculated by the MLSLink Housing Price Index®, across each residential category have declined. Detached properties in Greater Vancouver declined 2.3 per cent through June and July 2008, while attached were down 1 per cent and apartment properties 2 per cent over the same period.
The overall benchmark price for all residential properties in Greater Vancouver has declined 2.1 per cent since the end of May 2008, from $568,411 to $556,605 in July 2008.
“We’re seeing more price reductions in properties listed on the market, which is having a levelling impact on the housing price increases experienced at the end of last year and into the first quarter of 2008,” said Real Estate Board of Greater Vancouver (REBGV) president, Dave Watt. “There was a slight decline in the total active listings on the market in July compared to June, which is a welcomed departure from recent trends.”
Residential property sales in Greater Vancouver declined 43.9 per cent in July 2008 to 2,174 from the 3,873 sales recorded in July 2007.
New listings for detached, attached and apartment properties increased 24 per cent to 6,104 in July 2008 compared to July 2007, when 4,924 new units were listed.
Sales of detached properties in July 2008 declined 44.2 per cent to 827 from the 1,483 units sold during the same period in 20070. The benchmark price for detached properties is up 5.4 per cent from July 2007 to $753,165.
Sales of apartment properties declined 42.3 per cent last month to 966, compared to 1,674 sales in July 2007. The benchmark price of an apartment property increased 4.7 per cent from July 2007 to $381,687.
Attached property sales in July 2008 decreased 46.8 per cent to 381, compared with the 716 sales in July 2007. The benchmark price of an attached unit increased 5.7 per cent between July 2007 and 2008 to $473,953.
The Real Estate industry is a key economic driver in British Columbia. In 2007, 38,050 homes changed hands in the Board's 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 9,600 REALTORS®. Monday, April 28, 2008 NEWS RELEASE - April 2, 2008by Matt France (RE/MAX Masters Realty) on Mon, Apr, 28, 2008 12:54 PM Below is a quote from an April 2, 2008 news release from the Real Estate Board of Greater Vancouver, which describes how sales are bit down, there are a more listings, and prices continue to rise with over 10% increases this year. Keep in mind that this news release was issued before the last 1/2% interest rate drop which will fuel real estate purchases. If you would like more information on this, I have the news release, which has specific statistics and graphs for different areas.
VANCOUVER, B.C. – April 2, 2008
– The Real Estate Board of Greater Vancouver (REBGV) reports that while
there were fewer housing sales in March 2008 compared to last year, residential prices continued to climb. Residential property sales in Greater Vancouver totalled 2,997 in March 2008, a decline of 16.3 per cent from the 3,582 residential sales recorded in March 2007, and a decline of 25.7 per cent compared to the 4,033 sales in March 2006. New listings for detached, attached and apartment properties increased four per cent to 5,674 in March 2008 compared with March 2007, when 5,456 new units were listed. “The market is continuing to balance, with sales and listings beginning to re-align with our 10-year averages,” says REBGV president, Dave Watt. “The selection of inventory hitting the market is wider than we have seen in the past few years, which gives prospective buyers more choices.” Sales of detached properties declined 20.2 per cent to 1,116 from the 1,399 detached sales recorded during the same period in 2007. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties rose 12.1 per cent from March 2007 to $764,616. Sales of apartment properties in March 2008 declined 10.6 per cent to 1,370, compared to 1,532 sales in March 2007. The benchmark price of an apartment property increased 11.5 per cent from March 2007 to $389,609. Attached property sales in March 2008 are down 21.5 per cent to 511, compared with the 651 sales in March 2007. The benchmark price of an attached unit increased 10.6 per cent between March 2007 and 2008 to $473,543. Monday, April 28, 2008 Bank of Canada Ratesby Matt France (RE/MAX Masters Realty) on Mon, Apr, 28, 2008 12:42 PM
The Bank of Canada Prime Rate, as shown at the link above, is now 4.75% and you should be able to find some types of mortgages (open and close variable) with significant discounts from this rate, so borrowing money right now is cheap.
With there being more listings, less purchases happening and low interests rates, now is a great time to buy real estate! |
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