We Oft Might Win

October 21, 2010

“Our doubts are traitors,
And make us lose the good we oft might win,
By fearing to attempt.”

– William Shakespeare


Real Estate Contracts

October 18, 2010

When you want to purchase a property, you have your realtor draw up a contract and you put in the contract terms that you find agreeable or at least what you think the seller will find agreeable. These are negotiable terms and include things such as price, amount of deposit, dates and subject clauses. You negotiate back and forth until eventually the buyer and seller sign off on everything and you have a binding contract. The buyers have promised to do everything in their power to fulfill their obligations and the sellers have agreed to do the same. I would encourage you if you are a buyer to make sure you get everything you have asked for in the binding contract. If the contract states that you are to receive an entire strata plan, then make sure that is what you receive instead of just one page. If the contract states that you are to receive any and all consultants’ or engineers’ reports, then that is what you should receive. It doesn’t matter if the listing realtor thinks it is unnecessary. If it’s in the contract and all parties have signed off, the time for negotiating is not now. Make sure the other party honours their side of things and ensure that you do too. If we all do what we are supposed to do, we’re that much closer to having a successful transaction.


Photos From A Bike Ride This Morning

October 17, 2010

Market Conditions Beginning to Improve

October 13, 2010

Vancouver, BC – October 13, 2010. The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province declined 36 per cent to 5,511 units in September compared to the same month last year. On a seasonally adjusted basis, MLS® residential unit sales in the province increased 2 per cent in September from August 2010. The average MLS® residential price climbed 4 per cent to $493,846 in September compared to the same month last year.

“BC home sales increased for the second consecutive month in September,” said Cameron Muir, BCREA Chief Economist. “However, consumer demand is still noticeably lower than last fall’s frenetic pace.”

“Market conditions have improved, with the months of supply declining from 11.1 in June to 8.9 in September,” added Muir. A balanced market typically exhibits five to seven months of supply.

“The current downward pressure on mortgage rates is expected to bolster housing demand this fall as consumers take advantage of a second opportunity to secure near record low interest rates,” noted Muir.

Year-to-date, BC residential sales dollar volume increased 2 per cent to $29.6 billion, compared to the same period last year. Residential unit sales declined 7 per cent to 59,228 year-to-date, while the average MLS® residential price climbed 9 per cent to $500,539 over the same period.

– from BCREA


Lower Lonsdale and the Living is Good!

October 9, 2010

Enjoy the Lower Lonsdale Lifestyle in this stellar suite with a MONSTER-SIZED patio.


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

October 5, 2010

North Vancouver
In North Vancouver there are currently 126 active one-bedroom properties for sale, ranging in price from $199,900. to $599,900., with the average asking price being $337,063. There have been 60 sales since July, with the average selling price being $309,875. and the average cost per square foot being $452. The least expensive sale price this year was for $156,000. in January and the most expensive was for $629,900. in June. With 126 properties currently for sale and 17 sales last month, there is currently a significant month supply of homes.

Lower Lonsdale
In Lower Lonsdale there are currently 55 active one-bedroom properties for sale, ranging in price from $199,900. to $585,000., with the average asking price being $337,525. There have been 33 sales since July, with the average selling price being $322,410. and the average cost per square foot being $484. The least expensive sale price this year was for $199,000. in April and the most expensive so far this year was for $629,900. in June. With 55 properties currently for sale and 9 sales last month, there is currently a significant supply of homes.

The Pier
In The Pier there are currently 5 active one-bedroom properties for sale, ranging in price from $352,900. to $585,000., with the average asking price being $432,979. There have been 5 sales since July, with the average selling price being $373,900. and the average cost per square foot being $566. The least expensive sale price this year was for $315,000. in March and the most expensive so far this year was for $629,900. in June. With 5 properties currently for sale and 1 sale last month, there is currently a 5 month supply of homes.


North Vancouver Condo / Apartment Property Statistics (2-Br)

October 4, 2010

North Vancouver
In North Vancouver there are currently 208 active two-bedroom properties for sale, ranging in price from $220,000. to $2,588,000., with the average asking price being $503,907. There have been 100 sales since July, with the average selling price being $452,286. and the average cost per square foot being $453. The least expensive sale price this year was for $229,000. in July and the most expensive was for $1,120,000. in February. With 208 properties currently for sale and with 46 sales last month, there is currently a 4 & 1/2 month supply of homes.

Lower Lonsdale
In Lower Lonsdale there are currently 63 active two-bedroom properties for sale, ranging in price from $292,000. to $2,588,000., with the average asking price being $572,719. There have been 34 sales since July, with the average selling price being $495,852. and the average cost per square foot being $501. The least expensive sale price so far this year was for $267,000. in April and the most expensive was for $1,000,000. in June. With 63 properties currently for sale and 13 sales last month, there is currently a 5 month supply of homes.

The Pier
In The Pier there are currently 12 active two-bedroom properties for sale, ranging in price from $599,000. to $2,588,000., with the average asking price being $831,100. There have not been any recorded sales since July, although I am told there have been a few that the developer did not put on realtor.ca. The least expensive sale price on record this year was for $510,000. in May and the most expensive was for $1,000,000. in June. With 12 properties currently for sale and one sale last month, there is currently a significant supply of homes.