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Blog › October 2011

New Listing 3629 MCEWEN AV, North Vancouver, BC


V917177 - 3629 MCEWEN AV, North Vancouver, BC, CANADAView my new House for sale SOLD at 3629 MCEWEN AV, North Vancouver and currently listed at $1,268,000.SOLD

This 12 year old home has tons of accommodation with over 4100 sf & has been well maintained. There's plenty of room for the whole family with 4 bedrooms, 4 full bathroom, 1 half bathroom plus a 2 bedroom suite. Enjoy hardwood floors, expansive open floorplan & dramatic entry with curved stiarcase. The quiet street location gives you peace of mind and the flat lot has lane access...perfect for the RV. Nature is at your doorstep just around the corner at Lynn Canyon Park.

New Listing # 8 849 TOBRUCK AV, North Vancouver, BC


V916130 - # 8 849 TOBRUCK AV, North Vancouver, BC, CANADAView my new Townhouse for sale SOLD at # 8 849 TOBRUCK AV, North Vancouver and currently listed at $567,000.SOLD

Welcome to Garden Terrace, a friendly complex of 22 units. This 3 bedroom end unit offers a bright comfortable living environment and plenty of outside space with 2 patios & a sundeck. Significant updates include updated kitchen with attractive shaker cabinets & new appliances, striking laminate floors & new vanities in all 3 bathrooms. You'll love the spacious master quarters with convenient en-suite. Mosquito Creek Park is closeby with its many nature trails for dog walking & play structures for the kids. Also nearby you'll find Capilano Mall as well as all the stores, shops & restaurants of the rejuvenated Marine Drive.

See the Pixilink Video Tour for this Townhouse

Market Report for September 2011


Home listings continue to rise in the Greater Vancouver housing market

 Consistent increases in property listings and fewer home sales over the summer months has helped move the Greater Vancouver housing market into the upper end of a buyers’ market.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) reached 2,246 in September, a 1.2 per cent increase compared to the 2,220 sales in September 2010. Those sales also rank as the third lowest total for September over the last 10 years.

 "There's more competition amongst home sellers in today's market, providing more options for prospective buyers," Rosario Setticasi, REBGV president said. "Buyers now have more properties to choose from and more time to make decisions compared to the spring season.” 

 New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,680 in September, the third highest volume for September in 17 years. This represents a 20.1 per cent increase compared to September 2010 when 4,731 properties were listed for sale on the MLS® and a 21.2 per cent increase compared to the 4,685 new listings reported in August 2011.

The number of properties listed for sale on the Greater Vancouver MLS® system has increased each month since the beginning of the year. At 16,085, the total number of residential property listings on the MLS® increased 4.6 per cent in September compared to August 2011 and rose 4.4 per cent compared to this time last year.

 “Our sales-to-active-listing ratio currently sits at 14 per cent, which is the lowest it’s been this year. Generally analysts say that a buyer’s market takes shape when the ratio dips to about 12 to 14%, or lower, for a sustained period of time,” Setticasi said.

 The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 8.8 per cent to $627,994 in September 2011 from $577,174 in September 2010.  

Since reaching a peak in June of $630,921, the benchmark price for all residential properties in the region has declined 0.5 per cent. 

Sales of detached properties on the MLS® in September 2011 reached 957, an increase of 10.5 per cent from the 866 detached sales recorded in September 2010, and a 32.8 per cent decrease from the 1,423 units sold in September 2009. The benchmark price for detached properties increased 13.4 per cent from September 2010 to $896,701. 

Sales of apartment properties reached 922 in September 2011, a 5 per cent decrease compared to the 971 sales in September 2010, and a decrease of 38.1 per cent compared to the 1,489 sales in September 2009. The benchmark price of an apartment property increased 4.4 per cent from September 2010 to $405,569. 

Attached property sales in September 2011 totalled 367, a 4.2 per cent decrease compared to the 383 sales in September 2010, and a 43.3 per cent decrease from the 647 attached properties sold in September 2009. The benchmark price of an attached unit increased 5.4 per cent between September 2010 and 2011 to $516,697.

2011-09_northvancouver_hpi_10-year-trend_graph copy

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REMODELLING - COST VS. VALUE


REMODELLING YOUR NORTH VANCOUVER HOME BEFORE SELLING                  COST VS. VALUE

Lately, clients have been asking what type of renovation will bring me the best return when selling.  To answer this question I referred to the 2010-2011 Remodelling Cost vs. Value Report.  This report is produced every year by Remodelling Magazine and it examines which renovations give the highest return when the home is sold. Although the publication is American based the information below pertains to the Pacific Northwest and, therefore, should be applicable to Vancouver. Here are the results:

Project

Job Cost

Resale Value

Cost Re-couped

 

 

 

 

Entry Door Replacement (steel)

$1,464

$1,641

112.1%

Garage Door Replacement

$1,514

$1,461

96.4%

Deck Addition (wood)

$13,827

$11,956

86.5%

Minor Kitchen Remodel

$23,603

$19,854

84.1%

Window Replacement (wood)

$14,431

$12,016

83.3%

Basement Remodel

$78,828

$65,101

82.6%

Window Replacement (vinyl)

$13,401

$10,760

80.3%

Bathroom Remodel

$19,490

$15,514

79.6%

Attic Bedroom

$63,314

$50,325

79.5%

Deck Addition (composite)

$17,552

$13,878

79.1%

Major Kitchen Remodel

$65,686

$50,556

77.0%

Two-story Addition

$195,228

$141,181

72.3%

Siding Replacement (vinyl)

$13,980

$10,067

72.0%

Family Room Addition

$105,369

$74,944

71.1%

Entry Door Replacement (fiberglass)

$4,040

$2,738

67.8%

Master Suite Addition

$131,566

$89,058

67.7%

Roofing Replacement

$26,718

$17,499

65.5%

Garage Addition

$73,834

$48,204

65.3%

Bathroom Addition

$49,508

$31,306

63.2%

Home Office Remodel

$32,428

$17,641

54.4%

Sunroom Addition

$86,970

$46,319

53.3%

Backup Power Generator

$17,033

$8,878

52.1%

It is interesting to note that the best paybacks are exterior renovations that increase curb appeal and liveability.  They also happen to be the least expensive.  So if you’re basing your remodelling decision on bang for your buck consider outside renovations. For further information please click here.



New Listing # 203 1480 DUCHESS AV, West Vancouver, BC


V914442 - # 203 1480 DUCHESS AV, West Vancouver, BC, CANADAView my new Apartment for sale at # 203 1480 DUCHESS AV, West Vancouver and currently listed at $399,900.

Welcome to the Westerlies. This well run building has established itself to be one of the best in Ambleside. The central location puts shops, restaurants, beach & seawalk within close walking distance. You'll love this over-sized unit with lovely hardwood floors, spacious kitchen with s/s appliances & beautiful solarium overlooking the tree lined street & north to the mountains. The open floor plan gives a comfortable, airy feel.

See the Pixilink Video Tour for this Apartment