West Vancouver Condo / Apartment Property Statistics (1-Br)

November 23, 2009

WEST VANCOUVER
In West Vancouver there are currently 20 active one-bedroom properties for sale, ranging in price from $259,000. to $750,000., with the average asking price being $415,915. There have been 17 sales since August of this year, with the average selling price being $422,435. and the average cost per square foot being $551. The least expensive sale price so far this year was for $219,000. in October and the most expensive was for $747,500. in October as well. With 20 properties currently for sale and an average of 3.4 homes selling per month through October, there is currently a 6 month supply of homes.

AMBLESIDE
In Ambleside there are currently 6 active one-bedroom properties for sale, ranging in price from $298,000. to $439,500., with the average asking price being $362,133. There have been 8 sales since August of this year, with the average selling price being $336,737. and the average cost per square foot being $448. The least expensive sale price so far this year was for $220,000. in October and the most expensive was for $615,000. in March. With 6 properties currently for sale and an average of 1.7 homes selling per month through October, there is currently a 3 & 1/2 month supply of homes.

DUNDARAVE
In Dundarave there are currently 9 active one-bedroom properties for sale, ranging in price from $259,000. to $750,000., with the average asking price being $444,833. There have been 6 sales since August of this year, with the average selling price being $590,333. and the average cost per square foot being $730. The least expensive sale price so far this year was for $380,000. in February and the most expensive was for $747,500. in October. With 9 properties currently for sale and an average of 1 home selling every month through October, there is currently a 9 month supply of homes.


West Vancouver Condo / Apartment Property Statistics (2-BR)

November 21, 2009

WEST VANCOUVER
In West Vancouver there are currently 47 active two-bedroom properties for sale, ranging in price from $429,000. to $7,950,000., with the average asking price being $1,061,302. There have been 31 sales since August of this year, with the average selling price being $797,927. and the average cost per square foot being $579. The least expensive sale price so far this year was for $290,000. in August and the most expensive was for $2,126,250. in April. With 47 properties currently for sale and 9.4 homes selling per month on average through October, there is currently a 5 month supply of homes.

AMBLESIDE
In Ambleside there are currently 21 active two-bedroom properties for sale, ranging in price from $429,000. to $2,250,000., with the average asking price being $852,690. There have been 15 sales since August of this year, with the average selling price being $679,200. and the average cost per square foot being $555. The least expensive sale price so far this year was for $290,000. in August and the most expensive was for $1,380,000. in February. With 21 properties currently for sale and 3.8 homes selling per month on average through October, there is currently a 5 & 1/2 month supply of homes.

DUNDARAVE
In Dundarave there are currently 14 active two-bedroom properties for sale, ranging in price from $549,000. to $7,950,000., with the average asking price being $1,140,000. There have been 3 sales since August of this year, with the average selling price being $651,166. and the average cost per square foot being $629. The least expensive sale price so far this year was for $416,000. in July and the most expensive was for $1,375,000. in April. With 14 properties currently for sale and 2.7 homes selling per month on average through October, there is currently a 5 month supply of homes.


Harmonized Sales Tax

November 20, 2009

The BC Government has announced that it will exclude new homes costing up to $525,000 from its proposed 12 per cent Harmonized Sales Tax (HST) scheduled to take effect July 1, 2010. The government has also increased the rebate of the provincial portion of the HST paid on a new home to a maximum of $26,250. This represents a 30 per cent increase over the original government proposed home price threshold of $400,000 and maximum rebate of $20,000.

This is good news for the Real Estate Board and proof that its lobbying efforts produce results. In October, 2009, the Board asked the government to raise the threshold for the HST on new homes as well as the new housing rebate. Clearly the government listened to the Board and the real estate sector. “We heard the concerns from consumers and industry about how the HST might affect home buyers, and this increase will move the threshold to above the average new home price in the province,” said the Hon. Colin Hansen, Minister of Finance.

A similar rebate will also support the construction or substantial renovation of affordable rental housing. The government has released its proposed Residential Housing New Housing Rebates and Transitional Rules for British Columbia HST, which provides details on new housing rebates including transitional rules for real property. This includes:

Transitional rules: the HST would not apply to sales of new homes where ownership or possession is transferred before July 1, 2010;

Grandparenting: sales of new homes under written agreements of purchase and sale including presales entered into on or before midnight November 18, 2009, would generally not be subject to the provincial portion of the HST, even if both ownership and possession are transferred on or after July 1, 2010. Any home sold on or after November 19, 2009 is subject to HST transitional rules.

Source: REBGV


October Home Sales Highest In 6 Years

November 18, 2009

Vancouver, BC – November 17, 2009. The British Columbia Real Estate Association (BCREA)
reports that Multiple Listing Service® (MLS®) residential sales in the province climbed 115 per
cent to 8,624 units in October compared to the same month last year. Last month posted the highest
number of MLS® residential sales for the month of October since 2003, when 8,682 units changed hands. The average MLS® residential sales price in the province climbed 17 per cent to $493,328 from $420,259 in October 2008.

Read the rest of the article here.


What’s Happening In West Vancouver?

November 17, 2009

There are currently 401 detached properties for sale in West Vancouver, ranging in price from $669,000. to $30,000,000., with the average asking price coming in at $2,544m423. There have been 222 sales since August, with the average selling price being $1,770,570. The lowest sale price achieved so far this year was for $550,000. in March. The highest sale price achieved so far this year was for $10,650,000. in October. With 401 homes currently for sale and 73 sales in October, there is a 5 & 1/2 month supply right now.

There are currently 44 detached properties for sale in Ambleside, ranging in price from $789,126. to $3,895,000., with the average asking price coming in at $1,579,701. There have been 40 sales since August, with the average selling price being $1,492,058. The lowest sale price achieved so far this year was for $765,000. in March. The highest sale price achieved so far this year was for $3,950,000. in July. With 44 homes currently for sale and 13 sales in October, there is a 3 & 1/2 month supply of homes right now.

There are currently 17 detached properties for sale in Dundarave, ranging in price from $1,088,000. to $10,800,000., with the average asking price coming in at $1,875,933. There have been 23 sales since August, with the average selling price being $1,918,961. The lowest sale price achieved so far this year was for $850,000. in March. The highest sale price achieved so far this year was for $10,650,000. in October. With 17 homes currently for sale and 10 sales in October, there is a 1 & 1/2 month supply of homes.


Woodward’s is Wonderful

November 16, 2009

I visited the Woodward’s building recently. Rather than having the top of the building enjoyed by only a few, they made it available to all residents. Located on the 42nd floor, Club W boasts incredible rooftop amenities, including an outdoor hot tub, a full service kitchen with deck seating, an indoor lounge, a gym with a rock climbing wall and a breathtaking view.


Relationships and Real Estate

November 11, 2009

There are many parallels between real estate and relationships. One of them that comes to mind is the whole area of difficult conversations. I have difficult conversations all the time, both in the relationship sphere as well as the real estate sphere. For instance, in real estate, I might have to say to a client just before I am about to hand her the keys to her new home, “Do you remember how we wrote into the contract that the seller would have the place professionally cleaned before the time of completion? Well, as it turns out, his idea of clean is different than that of yours and the rest of society.

In the relationship sphere, a difficult conversation might go something like this:
“Hi, my name is Mike Giesbrecht.
Yes.
Would you like to go out to dinner sometime?
No.
Would you like to take some time to consider your response before answering so quickly?
No
Is there anything I can say or do that would move you along the continuum from no to yes?
Ah, no.
You hesitated.
I thought I was going to sneeze.
So, no is your final answer?
Yes. No. I mean whatever the answer is that says I don’t want to go out with you, that’s the answer.”