residential real estate

275 1st Street, Courtenay BC (New)

One of a Kind in the Comox Valley! The very best of country, city, and waterfront living. Enjoy the solitude of a large back yard and relax overlooking the Puntledge River, then stroll four blocks to the heart of downtown Courtenay. The domain, a completely remodeled and renovated country/executive styled home. The house sits on a mature, landscaped 1/2 acre lot. No detail has been overlooked. Refinished original oak and fir flooring, coved ceilings, new paint and lighting/bath fixtures. All new electrical and plumbing, including water filtration. Three bed, 1.5 baths, new and existing landscaping that creates a park like setting. Lot is sub-dividable.

residential real estate

The Housing Market Scenario At the Greater Vancouver Area In 2010

The housing price at the Greater Vancouver Area in Canada has significantly increased in the present times. As per industry exerts, the residential real estate market has roared back in 2010 with the housing prices at or above pre-recession levels.  One of an interesting feature is that the housing sales have also increased notably at the beginning of the second quarter in 2010.

As per the reports of REBGV (Real Estate Board of Greater Vancouver), about 3,512 residential properties have been sold in April 2010. It is about 18.5% increase in comparison to 2,693 sales during the same month a year back and 9.1% increase (with 3,218 sales) from that of April 2008. The housing sales figure of April 2010 also signifies that there has been about 12% increase in comparison to March 2010.

There have been about 7,648 new listings (in April 2010) for attached, detached and apartment properties in the Greater Vancouver Area that amounts to about 64.5% increase as compared to the similar period in 2009. In comparison to March 2010, there has been about 9.2% increase in property listings. The sales of detached, attached and apartment properties have also increased remarkably in the past 1 year.

The housing prices have also increased during the similar time period. In the past 12 months, the HPI (Housing Price Index) benchmark for all residential real estate properties has increased from $499,021 (in April 2009) to $593,419 (in April 2010). The benchmark for detached, attached and apartment properties in April 2010 has increased by 21.2%, 16.4% and 16.9% respectively as compared to April 2009.

One of the major reasons behind the increased price of Vancouver homes is that the demand has been a lot more than the supply for the past 1 year. According to the industry experts, the housing price will continue to be higher in 2010. So, this is the ideal time for the Vancouverites to own a property before the price rises more. Moreover, the low mortgage rates may soon disappear along with the addition of 12% HST (‘Harmonized Sales Tax’, the combined federal-provincial tax) to the price of homes from July 1, 2010.

Due to the housing mortgage meltdown in US, Canadian lenders have become cautious about offering home loans to the borrowers. They’re assessing the financial condition of the mortgage borrower before originating a home loan. So, make sure that your finances are in order so that you can qualify for taking out a mortgage loan if you want to own a property in the Greater Vancouver Area, Canada.

residential real estate

2538 W 13th Ave, Vancouver

A well established bed & breakfast in Kitsilano since 1997. Beautifully decorated & furnished to operate. This nine bedroom & eight bathroom house gives your family & guests enough space. Central location. Quiet neighborhood, successful business. Excellent schools, don’t miss.

residential real estate

1607 W 58th Ave, Vancouver (NEW and Private!)

Beautiful corner lot in prime South Granville location. Over 4,500 sf, sitting on a 69.8 x 112 (7,818 sf) lot. Five bedroom with 4 ensuites, 6 bathroom, 2 kitchens with top of the line appliances includes Subzero stainless steel fridge and appliances. Air-conditioning, radiant heat, hardwood flooring, lots of mouldings and extra height ceiling. Beautiful landscaped yard area with finished pond and water fountain. Close to school, shopping and easy to go to Richmond Airport and Vancouver Downtown.

Attn: This Property Is Exclusive For Sale By Angel Wang and Will Not Be Listed On MLS.

Please contact Angel for more details here.

residential real estate

House Construction Up 5.9 per cent in December

According to the latest real estate market news released by Ottawa: House construction rose more than expected in December as Canada’s real estate market continued to show signs of recovery.

Canada Mortgage and Housing Corp. said Monday the number of seasonally adjusted housing starts were up 5.9 per cent from November, to 174,500 units. Most economists had expected an increase of between 160,000 and 165,000 units in December, following an upwardly revised 164,800 starts the previous month.

According to CMHC data, urban starts were up 6.6 per cent to 157,100 units in December, CMHC said in its report. Multiple-unit starts totalled 77,700 during the month, up from 72,800 units in November, while single-unit starts totalled 79,400, up 6.4 per cent from the previous month.

Urban construction was up 17.8 per cent in Quebec, 15 per cent in Atlantic Canada, 8.7 per cent in British Columbia and 2.9 per cent in Ontario, the report said. In the Prairies, urban starts declined 3.8 per cent.

Rural starts were unchanged at 17,400 units.

The Bank of Canada may shed further light on whether that strength has pushed Canada into a housing bubble when one of the governor’s advisers talks about the real estate sector in a speech Monday afternoon in Edmonton.

Meanwhile, Statistics Canada said Monday the value of building permits fell in November by 4.6 per cent from the previous month to $5.9 billion. Still, that was 23.1 per cent higher than November 2008 and 62.8 per cent higher than February 2009. The decline was due to a drop in the non-residential market, which offset increases in the residential real estate market.