Thought for the Day

January 26, 2011

“You can’t hold a man down without staying down with him.” – Booker T. Washington

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Some Interesting North Vancouver House Sales

January 10, 2011

A more detailed analysis of what’s happening / what happened in the North Vancouver housing market will follow, but for now here are a few pictures of homes that sold in 2010. There were 939 sales in total.

The most expensive to sell was this offering:

For under $6.5 million, you would have gotten well over 6,000 square feet of luxurious living, right on the water and with your own dock.

The least expensive to sell was this offering:

For under $500,000. you would own a 3-bedroom, 1 bathroom 1-level home in a very central location.

Right in the middle of all the sales we have this one:

Under $960,000. would have bought you a 2100 square foot home, sitting on a flat, 9000 square foot lot. Tastefully renovated and just steps from the Village.


Home Sellers: Cut to the Chase in Home Repairs and Enhancements

January 10, 2011

Here is my January 2011 newsletter, which you can also find here.

It’s a good idea for home sellers to be on their toes to give their homes maximum appeal. Not only should sellers complete the home repairs they know must be made, they can also hire a certified home inspector to thoroughly and impartially evaluate their properties.

If this inspection results in a fix-it list, review the list with your real estate professional to establish necessities and priorities. Depending on your budget and objectives, you may want to repair only items that could cause significant deterioration to your property, such as a leaky roof. Ideally, the closer you can get your home to “move-in-ready” status, the more likely you are to attract today’s cautious and discerning buyers.

Among the most common repairs and enhancements yielding immediate buyer appeal include:

Paint inside and outside in neutral colors
Steam clean or replace carpets
Polish or replace hardwood floors
Clean or re-grout kitchen and bathrooms
Replace light fixtures
Change light bulbs throughout and replace wall-switch covers
Repair dripping faucets
Fix sticking doors
Repair broken fencing

Home sellers wanting to do more may want to consider the findings of Remodeling Magazine’s 2010-’11 Cost vs. Value Report, released in December 2010. The survey used input from REALTORS in 80 cities to rank home remodeling projects according to those that bring the greatest cost recovered at sale.

Many of the top projects focus on exterior replacements, as replacements are generally less expensive than other types of projects and they add all-important curb appeal – essential for today’s competitive market or any other.

The Top Five projects in the Cost vs. Value Report include:

No. 1 – Entry door replacement (steel)
No. 2 – Garage door replacement (four-section door, reuse existing motorized opener)
No. 3 – Siding replacement (fibre-cement siding)
No. 4 – Kitchen remodel (minor: new cabinet doors, drawers and hardware, plus new energy-efficient appliances, flooring, counters, sink and faucet)
No. 5 – Deck addition (wood)

When the dust clears and projects are complete, be sure that you and your real estate professional document your repairs and enhancements, and share the report with prospective buyers. Walk prospects through the enhancements and include their costs.

A home in good condition demonstrates pride of ownership. Taking the time to make enhancements helps ensure your home is presented in its best-possible light, primed for sale.

Mike Giesbrecht can be reached at 604-787-9197. Prudential Sussex Realty is an independently owned and operated member of The Prudential Real Estate Affiliates, Inc., a Prudential company.


Some Interesting West Vancouver 2-Br Condo Sales

January 9, 2011

A more detailed analysis of what’s happening / what happened in the West Vancouver condo market will follow, but for now here are a few pictures of homes that sold in 2010. There were 109 sales in total.

The most expensive to sell was this offering:

For a little under $2 million, you would have gotten over 1400 square feet of luxurious, penthouse living space, some pretty good views and a location literally just steps from restaurants and shops.

The least expensive to sell was this offering:

For under $355,000. you could have been living in a 741 square foot, renovated home in Dundarave.

Right in the middle of all the sales we have this one:

Under $730,000. would have bought you over 1200 square feet of living area, some ocean view and a building under 12 years old.


Significant 1-Br Condo Apartment Sales in West Vancouver

January 8, 2011

A more detailed analysis of what’s happening / what happened in the West Vancouver market will follow, but for now here are a few pictures of homes that sold in 2010. There were 42 sales in total.

The most expensive to sell was this offering:

For a little under $1.5 million, you would have gotten this 1400 square foot condo on the water with some spetacular views. Home had not been updated in a while, but the view was very today!

The least expensive to sell was this offering:

For under $215,000. you could have been living in a 645 square foot home with a view of the mountains. Ambleside for this price? Probably one of the best deals last year.

Right in the middle of all the sales we have this one:

Nicely renovated home with ocean views in a well-maintained building over 40 years old. Seawall is just steps away.


Variable Rate Mortgage?

January 7, 2011

If you have one right now, please keep in mind these upcoming dates when the Bank of Canada will announce its interest rate decsions:

January 18, 2011
March 1, 2011
April 12, 2011

I would encourage you to talk to your mortgage broker if you are thinking about making any changes.


Significant House Sales in West Vancouver

January 7, 2011

A more detailed analysis of what’s happening / what happened in the West Vancouver market will follow, but for now here are a few pictures of homes that sold in 2010.

The most expensive to sell was this offering:

For under $11,000,000. you would have gotten over 5000 square feet of indoor living space on almost 1/3 acre of oceanside property on truly one of the nicest streets in West Vancouver.

The least expensive to sell was this offering:

Less than $625,000. would have gotten you this view. House was in need of some work, but did I mention the view?

Right in the middle of all the sales we have this one:

Actually there were 5 to choose from at this price point (just under $1.5 mil, the median sale price for West Vancouver homes last year) If you had pulled the trigger on this one, you would now be living in a 27 year old home in Caulfeild; over 3400 square feet of indoor living space on almost 1/3 of an acre lot. Tastefully renovated about 10 years ago, there is also a pretty good view to enjoy.