I just finished uploading this House for sale, 174 46TH Ave E, Vancouver East, British Columbia

Main Street Character Home one of the originals in the area, 3 bedroom up with spacious main floor and fully finished open basement. This is a great family home with a ton of updates - All New Windows, Furnace, Electrical, Plumbing Bathrooms,Garage Roof, Fence, Sundeck and lots more ! Excellent layout with great separation for a family plus a major bonus is you get Westside Schools - Van Horne Elem & Eric Hamber Sec. Walking Distance to Langara Golf, Cambie St Skytrain, YMCA, Oakridge, Queen Elizabeth Park, Hillcrest, Langara College, Main Street and much more ! This gem will not last !!

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I just finished uploading this Condo for sale, 201 1429 WILLIAM Street, Vancouver East, British Columbia

Live with confidence in this completely renovated building. Everything from the the balconies, windows, sliding doors, siding, fencing, roof, common areas and a new intercom system.This 2nd floor corner unit has been completely and tastfully renovated. The 806 square feet make it bright and spacious. Recent changes allow owners to have families of up to three dogs of any size. The excellent location close to the Drive, the young, invested and dedicated strata and the building's occupants make this building an extremely great place to live! Join us for an open house this Saturday June 30th from 1-3PM.

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I just finished uploading this Condo for sale, 416 2366 WALL Street, Vancouver East, British Columbia

CAPTIVATING "IN YOUR FACE" VIEWS provide endless entertainment to the fortunate owner of this gorgeous, fully renovated top floor suite. All of Vancouver's finest features are framed by oversized windows - The Burrard Inlet & Coal Harbour to the Lions Gate bridge, Canada Place & Stanley Park, with majestic N S mountains as a backdrop. The efficient open floor plan is enhanced by vaulted ceilings, skylights, cozy gas fireplace & balcony to sip wine & enjoy the sunsets. Luxurious finishes include granite & marble counter tops, custom built kitchen cabinets, newer appliances, glass bath enclosure, built in entertainment cabinets & wiring, new fireplace & much more. The utility room offers options for home work space, laundry room or huge pantry as a locker is included. All this in a great building with extensive upgrades & secure parking in a great & trending location with neighbourhood parks. Don't miss this opportunity to own this special turn-key home with a never ending view. Pets & rentals are ok too !

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I just finished uploading this Condo for sale, 304 642 7TH Ave E, Vancouver East, British Columbia

Top Floor, SE corner unit, RENOVATED with Views! Enjoy almost 800 sq ft of open floor plan living area. Fully renovated new kitchen, updated bathroom, new lighting and paint throughout. There is lots of storage and natural light. FREE LAUNDRY. Views to Burnaby and the park. OPEN HOUSE Saturday July 7th (2-4).

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I just finished uploading this Condo for sale, 416 711 6TH Ave E, Vancouver East, British Columbia

Rarely available 1 bdrm roof-top penthouse, NW corner unit. Spacious, open floor plan, no wasted space. Enjoy this huge roof-top sun-deck (600sf), very private with 180 degree view of city and north shore mountains, gorgeous sunsets. Great for entertainment, BBQ, gardeners, and pet. Solid building with recent major upgrades including roof, pipes, boilers, sun decks, balconies and the kitchen skylight above offering great natural light 24/7. Nonetheless some personal touch-up in the bathroom and new paint shall make this a lovely home. Don't miss this opportunity.

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I just finished uploading this Duplex for sale, 5418 MAIN Street, Vancouver East, British Columbia

Heritage style 1/2 duplex, hardy plank siding, paved sidewalk, plants & shrubs, built under green program, energy efficient windows, radiant heat, HRV, granite counter tops, under mount sinks, electric fireplace, 3 bdrms, 2 full baths. Fenced patio for barbecue, 1 level lot, near QE Park & all major amenities.

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Hello Everyone,

The Real Estate Board of Greater Vancouver (REBGV) today announced some unsettling statistics in their monthly broadcast of market information. The leading line reads:

"The number of residential property sales hit a 10-year low in Greater Vancouver for June, while prices remained relatively stable."
http://www.rebgv.org/news-statistics/greater-vancouver-housing-market-favoured-buyers-june

...and the story was reported in the Vancouver Sun:
http://www.vancouversun.com/business/commercial-real-estate/Vancouver+sales+year+real+estate+board+declares+buyer+market/6882325/story.html

These numbers reflect the total number of all residential sales across Vancouver, comparing June sales figures to June sales figures in previous years. 

Digging into the details reveals a slightly different picture from Vancouver's westside vs east.  Sales figures are down on the westside, across the detached (51%), attached (34.3%) and apartment (10.7%) segments, comparing June 2011 to June 2012.  However on the eastside, sales for both attached and apartment properties are up from this same time last year by 2.9% and 22.7% respectively.  Detached home sales took a beating, and are down 40% from June 2011.

The number of active listings on the market is higher across all market segments compared to June of previous years on both the east and west sides of the city.  Despite this, both the attached and apartment homes on the eastside remain in a seller's market with 4.4 and 4.3 month's supply of inventory respectively.  Detached homes in the east have entered a balanced market at 6.5 months supply.  Again, the westside is softer, with buyer's markets across all property types.

Median sales prices showed moderate increases everywhere from the same time last year, except for detached homes on the westside, which fell roughly 14% (and a little over 6% from May 2012).

Overall, supply is up and sales are down, so we should expect to see some downward pressure on prices, more so on Vancouver's westside.  For how long?  No one knows, despite the many predictions and speculations being thrown around. 

Interest rates continue to remain at record lows.  Again, for how long, we're not sure, albeit we shouldn't expect them to get any (or at least much) lower.

So, let's have a look at that.  Using RBC's online mortgage calculator, I had a look at a $500K mortgage at a rate of 3.06% interest on a 5 year term amortized over 25 years with monthly payments vs a $450K mortgage with 4% and 4.5% rates of interest (everything else remaining the same).  Looking at these scenarios, you'll end up spending just over $13,000 more in interest on the $450K mortgage at the 4% rate, over the 5 year term vs the higher mortgage amount with the lower interest rate.  If the rate goes up to 4.5%, it becomes almost $24,000 more in interest spent.

Is now a good time to buy?  Low interest rates and a good amount of active inventory would make it favourable.  However, only you can answer that question. 

When you, or someone you know, is ready to list or buy a home or investment property, I look forward to helping you through the process.

Please don't hesitate to get in touch if you have questions or would like more information on any of this:
email: kim@kimmcalpine.com
cell: 778 317 9909
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Vancouver's West Side
Comparing June 2011 to June 2012: the median sales price of a detached home in Vancouver's westside has fallen by roughly 14%, however both the attached and apartment market segments have seen moderate increases.  The number of home sales has fallen by quite a bit from the same time last year - a whopping 51% for detached homes, while total inventory has increased across all of the market segments.  The westside has transitioned from a balanced market, to a buyer's market, with between 7.1 months supply (apartments) to 10.6 months supply (detached homes).

Median sales price:
http://statscentre.rebgv.org/Service/s/V4C-kl2

Number of sales:
http://statscentre.rebgv.org/Service/s/V4G-tAa

Total number of listings:
http://statscentre.rebgv.org/Service/s/V4H-zQ1


Vancouver's East Side
June 2012 brought about moderate median price increases for both detached and attached homes, while apartment prices stayed pretty much the same, from this time last year.  The number of homes sold is also up in the attached and apartment market segments, however detached properties fell by almost 40% from this time last year.  Lastly, the number of listings on the MLS is up across all segments compared to this time last year.  We're still in a seller's market for attached and apartment homes at 4.3 and 4.4 months supply respectively, while detached homes have moved into a balanced market with 6.5 months supply.

Median sales price:
http://statscentre.rebgv.org/Service/s/V4D-sG3

Number of sales:
http://statscentre.rebgv.org/Service/s/V4F-hRN

Total number of listings:
http://statscentre.rebgv.org/Service/s/V4I-V4Q


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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.