RSS

4831 ELM Street sold for over $700,000 asking price
In what other city can you attract over 200 people to an Open House on a rain-soaked Saturday, for an old Lot Value house priced at almost $3 million dollars? Got to love the Vancouver real estate market. I'm not sure there really is anywhere else, but if there is, I'd love to know.

But back to our rainy Saturday Open House in the Dunbar neighbourhood. The jam-packed affair even surprised us, and just proves that Vancouver's busy market is relentless.

Our market continues to reach new heights, with 33 foot Lot Value homes now selling well above the $2 million mark. One, in fact, just sold for $2.5 million; $ 500,000 over asking price! 50 foot lots with older homes are now selling at or over $3 million. Looking at a home with a view? Prices are substantially higher yet. In Point Grey, the numbers are even loftier.

It's quite a time here in Vancouver. Home prices have reached stratospheric levels with no pull back in sight. Many of the buyers are “cash buyers" and therefore higher interest rates (when they finally arrive) will have minimal impact on them.

For locals looking to purchase on Vancouver’s West Side, it's looking bleak unless they already own on the West Side, or have the Bank of Mom and Dad helping out with very deep pockets. Home prices make no sense relative to income levels here in Vancouver, unfortunately. It's increasingly a market driven by immigrant buyers with loads of purchasing power.

The majority of these West Side homes that are Lot Value sell with multiple offers where the buyers bring unconditional offers to the table. Gone are the days of 1 week subject to finance or inspection. If you want to be the buyer who gets the property, you almost always have to write a clean offer.

It all amounts to being quite the year (or two!) in our very busy real estate market here in Vancouver. The bright side is, if you’re selling, prices have never been higher or the demand stronger.
 
What are your thoughts on this crazy market? Do you see the bubble bursting any time soon? Please share your thoughts in the comments, we'd love to know! 
Read

Please visit our Open House at 3240 21ST AVE W in Vancouver.
Open House on Sunday, September 20, 2015 2:00 PM - 4:00 PM Public Open
Sought after Dunbar location. RS-5 Zoned 50 x 122 lot. This well maint. character home boasts lovely views from the upper floor. The buyer may wish to buy and hold or purchase to renovate or build your dream home. A new home will sit higher on the street w even better views ( see photos from roof top ). Existing home has 4 bdrms up, main floor kitchen that was remodelled 7 years ago. 2 bdrm bsmt suite rented at $ 1650 pm w sep Laundry. Lovely south facing rear yard totally private w NO large problematic trees. 1st showings are SAT & SUN Open House on Sept 19th & 20th from 2 to 4. Offers if any presented on Wed Sept 23rd at 5pm.
Read

Please visit our Open House at 3240 21ST AVE W in Vancouver.
Open House on Saturday, September 19, 2015 2:00 PM - 4:00 PM Public Open
Sought after Dunbar location. RS-5 Zoned 50 x 122 lot. This well maint. character home boasts lovely views from the upper floor. The buyer may wish to buy and hold or purchase to renovate or build your dream home. A new home will sit higher on the street w even better views ( see photos from roof top ). Existing home has 4 bdrms up, main floor kitchen that was remodelled 7 years ago. 2 bdrm bsmt suite rented at $ 1650 pm w sep Laundry. Lovely south facing rear yard totally private w NO large problematic trees. 1st showings are SAT & SUN Open House on Sept 19th & 20th from 2 to 4. Offers if any presented on Wed Sept 23rd at 5pm.
Read

Please visit our Open House at 3240 21ST AVE W in Vancouver.
Open House on Saturday, September 19, 2015 14:00:00 - 16:00:00 Public Open
Sought after Dunbar location. RS-5 Zoned 50 x 122 lot. This well maint. character home boasts lovely views from the upper floor. The buyer may wish to buy and hold or purchase to renovate or build your dream home. A new home will sit higher on the street w even better views. Existing home has 4 bdrms up, main floor kitchen that was renovated 7 years ago. 2 bdrm bsmt suite rented at $ 1650 pm. Lovely south facing rear yard totally private w NO large problematic trees. 1st showings are SAT & SUN Open House on Sept 19th & 20th from 2 to 4. Offers if any presented on Wed Sept 23rd at 5pm.
Read

Luxury real estate is rising across Canada along with the rest of the market. Homes priced over $1 million were up in Vancouver, Victoria, Toronto, and Montreal; whereas Calgary saw a decrease by 28% in sales from the same seven month period in 2014. The high demand for luxury homes from foreign buyers and overall price appreciation—driven by low inventory and high demand for single-family homes--factor into this affluent market.


Most of Vancouver’s foreign buyers in the luxury market are families with children who have chosen Canada for its stable economy and high quality of life. Their real estate decisions are based on investment opportunities and proximity to good schools. Favouring new builds with top-quality finishes, they are huge contributors to the market’s impressive gains: 572 properties over $3 million sold between January 1st and July 31st, a 79% gain over 2014.


The luxury condominium market tends to revolve around Baby Boomers who are downsizing in retirement. They tend to be travelers who spend part of their time in a second home, and these $1 million+ condos are chosen for their luxury amenities without the maintenance of a house.


A growing trend in the luxury real estate market is buyers who bypass the MLS system all together and make offers directly to homeowners through their agents. Unlike “For Sale By Owner” sales, the sellers in these transactions are trusting experience agents to get them top dollar.


This reflection of the first seven months in Vancouver’s luxury market is expected to continue through the end of the year for a very profitable—and luxurious—2015.

Read

When it comes to dining out with kids, the right restaurant can make all the difference. We’ve rounded up the local favourites that pair great food with a family-friendly atmosphere for a unique and relaxed experience.

 

1. Indulge in local, organic ingredients atop tasty pizza pies and craft beers and wines at the Rocky Mountain Flatbread Co.. Kids can watch dinner being made in the clay, wood-fired oven or occupy themselves in the play area before enjoying simplified, kid-priced versions of grown-up classics. Make it a Sunday night tradition; from 5:00 – 7:00 is Family Night where kids can roll out their own dough and top it off with their favourites.

 


2. Designed by moms for moms, the Kokopelli Café on Dunbar is made for kids, so parents can enjoy leisurely homemade lunches too. Laid out to be stroller-friendly, there’s a play area for toddlers and understanding staff. Stop in for takeaway, homestyle meals for no-brainer dinners as well!

 


3. Satisfy your sushi craving at Kamei Royale in the heart of downtown. The spacious restaurant serves up an array of rolls for every palate and with multiple tatami rooms, dining out can still be private enough to coral the kids in your own corner. The bustling atmosphere ensures a few loud patrons won’t make a difference, either.

 


4. Finer dining can still be had with kids at The Keg. We suggest the Granville Island location for short impromptu pre-dinner walks with plenty for the kids to see. Friendly staff also deliver snacks and colouring activities so parents can actually peruse the menu.

 


5. For something a little different, the Storm Crow Tavern is awesome for families with older children. The self-proclaimed “Planet Hollywood for geeks” has an abundance of board games for patrons to play, as well as plenty of memorabilia to check out while you wait for your meal. Well-priced eats come in all forms including vegan and gluten free.

 

Know of any other family friendly restaurants great for kids young and old? Share with us!


Read
Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), 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 GVR, 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 GVR, the FVREB or the CADREB.