Updates › March 2013

New Listing # 402 5775 IRMIN ST, Burnaby, BC

V998503 - 402 - 5775 Irmin Street, Burnaby, British Columbia, CANADAView my new listing for sale at 402 - 5775 Irmin Street, Burnaby and currently listed at 459900.

Quiet South facing 2 bedroom, 2 full baths, overlooks courtyard and view of South Fraser River.  Most desirable open concept living floor plan with separate bedrooms for privacy.  9' ceilings throughout & 11' ceilings in living area providing abundance of natural light and adds depth to the space. Gourmet kitchen features SS Whirlpool Gold Star Appliances w/ bottom-mount freezer, dishwasher, polished granite countertop, white oak veneer cabinetry w/ silent-close hardware throughout, and Gas Range! (strata fee incl. GAS).  Spacious 10' x 11' patio is equipped w/ Gas BBQ hook up!! Master bath features his/her vanity, walk-in shower stall, soaker tub.  Both bathrooms are equipped with adjustable 3-function pull out shower head hand set, 12 x 24 ceramic tiles, polished marble countertop.    Energy efficient Whirlpool washer / dryer. Amenities include fitness centre, lounge, guest suite, on-site caretaker, 3.8 acres landscaping with 1km trail, 1800sf. of putting green and playground. Central Location - Never worry about tunnels or bridges!  Steps away from skytrain, Michael J. Fox Theatre & Burnaby High School.  Nearby are Nelson Elementary, sport facilities, parks, shopping, restaurants & Metrotown.  MacPherson Walk is built w/ rainscreen technology.  South Burnaby's most desirable & award winning new residential community. This suite was seldom lived-in...Mint Condition!  Includes 1 Secure underground parking and storage locker.

A Buyer's Guide to Property Viewing Etiquette

A Buyer's Guide to Property Viewing Etiquette
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As a prospective home buyer you have responsibility during the viewing of homes. You need to be sensitive and respectful when touring properties with your agent. Here are a few simple guidelines to follow during your home hunting days:

Dress appropriately Aim to look innocuous and don't let your clothes give anything away. You don’t want to look scruffy, but equally, if you look too smart the vendor might assume you've got loads of money and won’t negotiate.

Leave young children and babies at home It is advisable not to take kids on a first viewing as they can be too distracting. If the vendor has children, then it is typically okay to bring them on a second viewing. However, if the vendor is childless, they may find it a bit of an imposition.

Arrive on time for the viewing You should always make the effort to arrive on time. Also if you are coming with others, make sure you arrive together. Showings are usually set for a certain time and it is not only an inconvenience to your agent if you are late but the seller may be on a schedule. Often owners will leave just in time for a showing and may be waiting to return after its completion.

Take off your shoes Even if you are not accustomed to taking off your shoes before entering someone else's home, it is best to do so when viewing a home so that you do not track mud and dirt into the home. People from various cultures and religions who do not wear shoes in home may be offended if you enter their house with your shoes on, so it is best to leave your shoes at the front door.

Respect the seller's personal property While it is expected to open kitchen cabinets, pantries and closets, try to keep the investigation down to a minimum. Avoid opening dresser drawers, looking at personal items and using the master bathroom.

Don’t criticize things you don’t like in front of the homeowner If the owners happen to be at home, keep conversation with them to a minimum. Most sellers try to be out when a showing takes place but sometimes it is just not possible. It is best not to "grill" them about why they are selling or where they are going. These questions are better filtered through your agent. The very worst thing you can do is say things like 'well we'd have to knock that wall down' and 'if we filled the pond in the garden it would look much better'. The vendor is probably very proud of their property the way it is. Although, some aspects of the house may not suit you and while you may not wish to purchase the home, it is best to have those discussions with your spouse out of earshot.

When leaving the home, it is nice to say things like, "Thank you for showing me around, it's kind of you to take the time" or "You have a lovely home". Vendors usually remember nice and polite people and favour them in any competition for the house.

Most people have enough common sense to be courteous and careful when entering a stranger's home for viewing. When in doubt about protocol, just ask your agent. One of the standing rules about viewing a home is - leave it exactly the way you found it.

Home Sales Continue at Modest Pace: Pent-Up Demand Growing

Home Sales Continue at Modest Pace: Pent-Up Demand Growing

Vancouver, BC – March 14, 2013. The British Columbia Real Estate Association (BCREA) reports that a total of 4,501 residential sales were recorded by the Multiple Listing Service® (MLS®) in BC during February, down 23.6 per cent compared to February 2012. Total sales dollar volume was down 29.9 per cent to $2.39 million. The average MLS® residential price in the province was $514,134, up 3.1 per cent from January, but down 8.1 per cent from a year ago.

"BC home sales continued at a modest pace in February,” said Cameron Muir, BCREA Chief Economist. “Despite improved affordability, many potential buyers and sellers remain in a holding pattern. With pent up demand now becoming latent in the market, it’s not a matter of if, but when home sales rise above their current pace."

“An unusual spike in the average MLS® residential price in February 2012 is largely responsible for the year-over-year percentage change,” added Muir. “Most BC markets have experienced relatively stable price levels during the first two months of the year.”

Year-to-date, BC residential sales dollar volume declined 24.6 per cent to $4.1 billion, compared to the same period last year. Residential unit sales dipped 19.6 per cent to 7,911 units, while the average MLS® residential price was down 6.2 per cent at $523,117.

Recently Sold Listing # 302 888 PACIFIC ST, Vancouver, BC

V985975 - 302 - 888 Pacific Street, Vancouver, British Columbia, CANADAI have just recently sold this listing at 302 - 888 Pacific Street, Vancouver.

Home Sales Continue at Below Average Pace

Home sale activity has trended below historical averages for a full year in the Greater Vancouver housing market.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 1,797 on the Multiple Listing Service® (MLS®) in February 2013. This represents a 29.4 per cent decrease compared to the 2,545 sales recorded in February 2012, and a 33 per cent increase compared to the 1,351 sales in January 2012.

Last month’s sales were the second lowest February total in the region since 2001 and 30.9 per cent below the 10-year sales average for the month.

“Sales in February followed recent trends and were below seasonal averages, though our members tell us they saw more traffic at open houses last month compared to the previous six to eight months, said Eugen Klein, REBGV president.

The sales-to-active-listings ratio currently sits at 12.2 per cent in Greater Vancouver, a two per cent increase from last month. This is the first time this ratio has been above 11 per cent since June 2012.

“With a two-point increase in our sales to active listings ratio and a reduction in the average number of days it’s taking to sell a home, February showed some subtle indications of a changing sentiment in the marketplace compared to recent months,” Klein said.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,833 in February. This represents a 13 per cent decline compared to the 5,552 new listings reported in February 2012 and a 5.8 per cent decline from the 5,128 new listings in January. Last month’s new listing count was 4 per cent higher than the region’s 10-year new listing average for the month.

The total number of properties currently listed for sale on the Greater Vancouver MLS® is 14,789, a 5.2 per cent increase compared to February 2012 and an 11.6 per cent increase compared to January 2013.  Since reaching a peak in May of $625,100, the MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver has declined 5.6 per cent to $590,400. This represents a 3.3 per cent decline compared to this time last year.

Sales of detached properties in February 2013 reached 704, a decrease of 36.1 per cent from the 1,101 detached sales recorded in February 2012, and a 49.8 per cent decrease from the 1,402 units sold in February 2011. The benchmark price for detached properties decreased 4.5 per cent from February 2012 to $901,500. Since reaching a peak in May 2012, the benchmark price of a detached property has declined 6.8 per cent.

Sales of apartment properties reached 760 in February 2013, a decline of 25.5 per cent compared to the 1,020 sales in February 2012, and a decrease of 37 per cent compared to the 1,206 sales in February 2011. The benchmark price of an apartment property decreased 3 per cent from February 2012 to $360,400. Since reaching a peak in May 2012, the benchmark price of an apartment property has declined 5.1 per cent.

Attached property sales in February 2013 totalled 333, a decline of 21.5 per cent compared to the 424 sales in February 2012, and a 31.9 per cent decrease from the 489 attached properties sold in February 2011. The benchmark price of an attached unit decreased 0.7 per cent between February 2012 and 2013 to $455,500. Since reaching a peak in April 2012, the benchmark price of an attached property has declined 6.5 per cent.

New Listing # 905 1211 MELVILLE ST, Vancouver, BC

V993998 - 905 - 1211 Melville Street, Vancouver, British Columbia, CANADAView my new listing for sale at 905 - 1211 Melville Street, Vancouver and currently listed at 1039900.

 ‘Ritz in Coal Harbour’ Rare find—3 Bedroom Floor Plan, 3 Full Baths (2 Ensuites) Solarium & Den. (1361sf + 45sf Balcony) NW Corner Facing includes A/C, over height 9'ft. ceiling, wall windows provide views of Stanley Park, mountains & marina. Open kitchen with breakfast bar, granite countertops, stainless appliances, gas cooktop, wall oven, hardwood floors, designer carpets in bedroom, custom design fireplace and side-by-side washer/dryer. Spa-bath features glass wall for natural lighting, walk-in glass shower, soaker tub, custom his/her vanity & granite countertop. Amenities include Concierge Service, 3 High Speed Elevators, Indoor Pool, whirlpool, sauna, steam, fitness center, multimedia room, social lounge. Coal Harbour Lifestyle enhanced by Seawall, Marina, Stanley Park, Robson Street shopping, finest restaurants, Convention Centre, financial district & Urban Fare.  Prestige building in Coal Harbour at $764/sf.!