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Get all your real estate questions answered here! Updated with the latest Real Estate happenings daily. Current information and photos regarding several topics and cities throughout the Lower Mainland.
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Wednesday, December 2, 2009 VANCOUVER - Home values continued to edge upward in November as demand in the Greater Vancouver housing market remains well above seasonal norms. Over the last 12 months, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 12.4 per cent to $557,384 from $495,704 in November 2008. This price, however, remains down 1.9 per cent from the most recent high point in the market in May 2008 when the residential benchmark price sat at $568,411. “This unseasonably high level of demand can be attributed in large part to low interest rates, but it also speaks to the diverse range of housing options available in Greater Vancouver,” Scott Russell, Real Estate Board of Greater Vancouver (REBGV) president said. “Prospective homebuyers today have more options at different price levels than ever before." The REBGV reports that residential property sales in November were the third highest volume ever recorded in Greater Vancouver for that month. Sales in the region totalled 3,083 in November 2009, an increase of 252.7 per cent compared to November 2008 when 874 sales were recorded and a 16.8 per cent decrease compared to the 3,704 sales recorded in October 2009. “We are experiencing a brisker than normal market for this time of year, although we have begun to see a reduction in the number of homes listed for sale, which is normal as we head into the holiday season,” Russell said. New listings for detached, attached and apartment properties in Greater Vancouver totalled 3,653 in November 2009. This represents a 21.3 per cent increase compared to November 2008 when 3,012 new units were listed, and a 26.6 per cent decline compared to October 2009 when 4,977 properties were listed on the Multiple Listing Service® (MLS®) in Greater Vancouver. At 11,039, the total number of property listings on the MLS® decreased 8.6 per cent in November compared to last month and declined 39 per cent from this time last year. In contrast to this year, note that November 2008 was the lowest selling November in Greater Vancouver in 27 years. Sales of detached properties increased 261.5 per cent to 1,164 from the 322 detached sales recorded during the same period in 2008. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties increased 13.6 per cent from November 2008 to $757,209. Sales of apartment properties in November 2009 increased 240.5 per cent to 1,396 compared to 410 sales in November 2008. The benchmark price of an apartment property increased 11.6 per cent from November 2008 to $381,945. Attached property sales in November 2009 are up 268.3 per cent to 523, compared with the 142 sales in November 2008. The benchmark price of an attached unit increased 10.2 per cent between Novembers 2008 and 2009 to $469,686.
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November Home Sales Continue at Torrid Pace
Vancouver, BC December 9, 2009. The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province climbed 165 per cent to 7,182 units in November compared to the same month last year. Last month posted the highest number of MLS® residential sales for the month of November since 2005, when 7,721 units changed hands. Triple-digit gains in province-wide unit sales reflect a low number of unit sales in November 2008.  BC home sales remained at an elevated level in November, said Cameron Muir, BCREA Chief Economist. Low mortgage interest rates, pent-up demand and strong consumer confidence continue to be key drivers in the market." The torrid pace of home sales in the Fraser Valley, Vancouver and Victoria has propelled the provincial total to near record levels. However, consumer demand in these markets is expected to moderate in the new year as pent-up demand is largely expended and higher home prices erode affordability. Year-to-date, MLS® residential sales dollar volume increased 21 per cent to $36.8 billion over the same period last year. A total of 79,325 units were sold in the first eleven months of 2009, up 19 per cent from 2008, while the average MLS® price increased 2 per cent to $463,555.
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Friday, October 2, 2009 Greater Vancouver home sales remained strong last month, with the second highest number of residential sales ever recorded for the month of September. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 3,559 in September 2009, an increase of 3.4 per cent from the 3,441 sales recorded in August 2009, and an increase of 124.5 per cent compared to September 2008 when 1,585 sales were recorded. “As homes sales in Greater Vancouver continued at an elevated pace in September it’s encouraging to see that more homes were listed on the MLS® in the month than any other so far this year,” Scott Russell, REBGV president said.
New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,764 in September 2009. This represents a 6.2 per cent decline compared to September 2008 when 6,142 new units were listed, but a 26.8 per cent increase compared to August 2009 when 4,544 properties were listed on the Multiple Listing Service® (MLS®) in Greater Vancouver. At 12,596, the total number of property listings on the MLS® increased 5.5 per cent in September compared to last month and declined 36 per cent from the 19,852 homes listed for sale during the buyer’s market that was experienced at this time last year. “During this period of renewed demand in our marketplace, home values have gradually recovered from the declines that occurred in 2008,” said Russell. Since the beginning of the year, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver has increased 13 per cent to $547,092 from $484,211, while home prices compared to Septembers 2008 levels are up 1.6 per cent. Sales of detached properties increased 160.6 per cent to 1,423 from the 546 detached sales recorded during the same period in 2008. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties increased 2.1 per cent from September 2008 to $741,632. Sales of apartment properties in September 2009 increased 94.9 per cent to 1,489, compared to 764 sales in September 2008. The benchmark price of an apartment property increased 1.5 per cent from September 2008 to $374,686.
Attached property sales in September 2009 are up 135.3 per cent to 647, compared with the 275 sales in September 2008. The benchmark price of an attached unit increased 0.4 per cent between Septembers 2008 and 2009 to $466,276. * Article from REBGV website.
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| For immediate release BC Home Sales Continue to Climb Vancouver, BC June 11, 2009. The British Columbia Real Estate Association (BCREA) reported that Multiple Listing Service (MLS®) residential sales in the province rose 3 per cent to 8,270 units in May 2009 compared to the same month last year. It was the first year-over-year increase since December 2007. The month of May also posted the highest number of residential sales since April 2008, on a seasonally adjusted basis, and was the fourth consecutive month of rising home sales.  Home sales have bounced back from the extraordinarily low levels recorded during the winter months, said Cameron Muir, BCREA Chief Economist. Improved affordability and less uncertainty about the future are the main factors driving home sales higher. "The combination of stronger consumer demand and fewer homes for sale is stabilizing home prices in many BC markets, added Muir. Year-to-date, MLS® residential sales dollar volume was down 31 per cent to $11.7 billion over the same period last year. A total of 26,359 units were sold in the first five months of 2009, down 26 per cent from 2008, while the average MLS® price declined 7 per cent to $443,252.
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BC Housing Market Stabilizing
Balanced markets emerging in Victoria, Vancouver and the Fraser Valley Vancouver, BC May 26, 2009. As part of its Spring 2009 Housing Forecast, the British Columbia Real Estate Association (BCREA) reported today that housing market conditions have improved more rapidly than expected. As a result, BCREA has revised its home price forecast upwards, reflecting greater price stability through the balance of the year. The average Multiple Listing Service® (MLS®) residential price in British Columbia is forecast to decline eight per cent to $420,600 in 2009, instead of 13 per cent originally forecasted at the beginning of the year.  The majority of the decline in home prices has already occurred, said Cameron Muir, BCREA Chief Economist. Balanced markets are emerging in Victoria, Vancouver and the Fraser Valley. Theres now little downward pressure on home prices in these areas.
Home sales in the province have climbed out of a trough, posting double-digit percentage gains for three consecutive months (seasonally adjusted). BC MLS® residential sales are forecast to decline 12 per cent to 60,755 units this year, as a result of a weak first quarter. However, stronger consumer demand is expected to continue for the balance of the year and through 2010. Residential sales in 2010 are forecast to climb 10 percent to 66,740 units. Affordability reached a three-year high in April with lower home prices and record low interest rates reducing the carrying cost of the average priced home 24 per cent over the last year. A significant increase in affordability has brought many first-time buyers into the market, added Muir. First-time buyers were largely absent in the late fall and winter, making it more difficult for move-up buyers to sell their current homes. The chain of ownership is now being oiled.
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Slow home sales create window of opportunity VANCOUVER, B.C. – December 2, 2008 – November reductions in home sales and prices have helped improve affordability in Greater Vancouver. However, November also saw a corresponding decrease in the number of new homes coming onto the market. In its most recent statistics release, the Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver declined 69.7 per cent in November 2008 to 874 from the 2,883 sales recorded in November 2007. Residential benchmark prices, as calculated by the MLSLink Housing Price Index®, declined 12.8 per cent between May and November 2008, amounting to an 8.3 per cent year-to-date price reduction for detached, attached and apartment properties in Greater Vancouver between November 2007 and 2008. In May 2008, the overall residential benchmark price was $568,411, compared to $495,704 in November 2008. "Times of turmoil, from which we always emerge, offer excellent opportunities to buy quality real estate," says REBGV president, Dave Watt.“For those whose personal finances allow them to get involved, there are opportunities in today’s housing market that have not been seen in many years. "The local real estate market is not immune to the current economic challenges globally; however, Canada’s disciplined lending structure has kept the mortgage landscape steady in these uncertain times." New listings for detached, attached and apartment properties declined 10.8 per cent to 3,012 in November 2008 compared to November 2007, when 3,377 new units were listed. Active listings in November declined 4.7 per cent to 18,348 from the 19,257 active listings in Greater Vancouver in October 2008. Sales of detached properties in November 2008 declined 69.8 per cent to 322 from the 1,067 units sold during the same period in 2007. The benchmark price for detached properties declined 8.6 per cent from November 2007 to $666,525. Since May 2008, the benchmark price for a detached property in Greater Vancouver has declined 13.6 per cent. Sales of apartment properties declined 67.9 per cent last month to 410 compared to 1,276 sales in November 2007. The benchmark price of an apartment property declined 8.6 per cent from November 2007 to $342,315. Since May 2008, the benchmark price for an apartment property in Greater Vancouver has declined 12.2 per cent. Attached property sales in November 2008 decreased 73.7 per cent to 142, compared with the 540 sales in November 2007. The benchmark price of an attached unit declined 6.4 per cent between November 2007 and 2008 to $426,287. Since May 2008, the benchmark price for an attached property in Greater Vancouver has declined 11 per cent.
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Consumer Confidence Key to Housing Market Conditions
BCREA Fall Housing Forecast Vancouver, BC October 29, 2008. The British Columbia Real Estate Association (BCREA) released its fall 2008 Housing Forecast today. BC Multiple Listing Service® (MLS®) residential sales are forecast to decline 28 per cent from 102,805 units in 2007 to 73,700 units this year. A modest 4 per cent increase to 76,500 units is forecast for 2009.  The erosion of consumer confidence that began with rising fuel prices earlier in the year is continuing, as the global financial crisis and volatile equity markets have BC households concerned about their own finances, said Cameron Muir, Chief Economist.
A weaker provincial economy is expected to increase the jobless rate from 4.4 per cent this year to 4.9 per cent in 2009. While some job losses will occur next year, BC households will remain on a relatively solid financial footing, added Muir. The average MLS® residential price is forecast to increase 3 per cent to $453,000 this year. However, home prices peaked in the first quarter and have been edging lower for several months. For 2009, the average price is forecast to decline 9 per cent to $413,000, with most of the decrease having already occurred by the end this year. Downward pressure on home prices is expected to ease by the second quarter of 2009, as an increase in affordability and consumer confidence induces a modest growth in sales. The inventory of homes for sale is also expected to decline in the coming months as potential home sellers delay putting their homes on the market until conditions improve.
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The lull in the Real Estate market has been tough on sellers. Don't buy into the hype about the falling market. With prices so low, it's the perfect time for you to purchase that home you were looking for but couldn't afford! This opportunity may not present itself again for years.
Let me walk you through the buying process and explain to you why NOW is the perfect time to buy.
Check out my website at www.shawnatwist.com to see current homes for sale or give me a call @ 604-809-6351 Shawna Twist
RE/MAX Ridge Meadows Realty
604-466-2838
604-809-6351
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VANCOUVER, B.C. October 2, 2008 The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver declined 42.9 per cent in September 2008 to 1,585 from the 2,776 sales recorded in September 2007. New listings for detached, attached and apartment properties increased 28.8 per cent to 6,142 in September 2008 compared to September 2007, when 4,770 new units were listed. After five years of unprecedented increases, housing prices are beginning to realign, REBGV president, Dave Watt said. Although the economic situation in the United States has affected consumer confidence globally, the consensus view remains that our local housing market is underpinned by solid economic fundamentals. Sales of detached properties in September 2008 declined 50.3 per cent to 546 from the 1,099 units sold during the same period in 2007. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties declined 1.6 per cent from September 2007 to $726,331. Since May 2008, the benchmark price for a detached property in Greater Vancouver has declined 5.8 per cent. Sales of apartment properties declined 35.1 per cent last month to 764, compared to 1,177 sales in September 2007. The benchmark price of an apartment property declined 0.7 per cent from September 2007 to $369,062. Since May 2008, the benchmark price for an apartment property in Greater Vancouver has declined 5.2 per cent. Attached property sales in September 2008 decreased 41.9 per cent to 450, compared with the 775 sales in June 2007. The benchmark price of an attached unit increased 7.6 per cent between June 2007 and 2008 to $476,585. Since May 2008, the benchmark price for an attached property in Greater Vancouver has declined 3 per cent. 
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VANCOUVER, B.C. – September 3, 2008 – The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 1,568 in August 2008, a decline of 53.7 per cent from the 3,384 sales in August 2007, and a 47.7 per cent reduction from the 2,998 sales recorded in August 2006. New listings for detached, attached and apartment properties declined 1.7 per cent to 4,331 in August 2008 compared to August 2007, when 4,408 new units were listed. “In August, properties on average remained on the market longer than we’ve seen in recent years,” REBGV president, Dave Watt said. “As the market heads into the traditionally more active fall season, we have begun to see property listings recede and prices moderate.” Sales of detached properties declined 58.5 per cent to 535 in August 2008 from the 1,288 detached sales recorded during the same period in 2007. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties rose 1.6 per cent from August 2007 to $737,985. Since May 2008, the benchmark price for a detached property in Greater Vancouver has declined 4.3 per cent. Sales of apartment properties in August 2008 declined 50.8 per cent to 740, compared to 1,504 sales in August 2007. The benchmark price of an apartment property increased 1.7 per cent from August 2007 to $374,366. Since May 2008, the benchmark price for an apartment property in Greater Vancouver has declined 3.9 per cent. Attached property sales in August 2008 are down 50.5 per cent to 293, compared with the 592 sales in August 2007. The benchmark price of an attached unit increased 3.8 per cent in Greater Vancouver between August 2007 and 2008 to $463,433. Since May 2008, the benchmark price for an attached property in Greater Vancouver has declined 3.2 per cent. As of August 31, 2008, active residential listings totalled 17,950 in Greater Vancouver, a 6.2 per cent decline from the 19,138 active listings seen on July 31, 2008. The Real Estate industry is a key economic driver in British Columbia. In 2007, 38,050 homes changed hands in the Board's area generating $1.065 billion in spin-offs. Total dollar volume of residential sales set a new record at $22.25 billion and total dollar volume of all sales set a record at $22.77 billion. For more information on real estate, statistics, and buying or selling a home, contact Shawna Twist at 604-809-6351 or shawnatwist@shaw.ca source = realtylink
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by Brandon Cornett You hear the word tossed around a lot in real estate circles. You hear it mentioned on home-selling programs on HGTV and other networks. But what exactly is "curb appeal," and why should you care about it when selling your home? In this article, we will start by answering this fundamental question. Then we will take a closer look at the elements of curb appeal, and how you can use them to increase your chances for a quick sale! But first, a definition. What is Curb Appeal? Let's start with a basic definition, just so we are on the same page. Curb appeal is the first impression people get when pulling up in front of your house. It is their perspective from the curb, literally. It's the first and most powerful impression your house will make on potential buyers, so it's a topic you should take seriously. Curb appeal encompasses many things, each of which we will discuss in more detail. These elements include your landscaping (lawn, shrubs, trees and flowers); your home's entryway; the doors and shutters; and the overall appearance of the home (paint, structural integrity, etc.). When potential buyers pull up in front of your home, they will try to imagine themselves in it. They will also imagine pulling up to the house after work each day, inviting friends over, etc. Will the house give them a sense of satisfaction and joy when they pull up to it? Will they be proud when they have guests over? Or do they have a negative impression right from the start? You can rest assured that all buyers will go through this mental (and sometimes verbal) checklist when they first visit. It may happen in a flash, mostly on the subconscious level. Or it may happen over a span of fifteen minutes, as the buyers stand out front waiting for their agent to arrive. But it will certainly happen. And as the saying goes, you never get a second chance to make a first impression. Take the Test We will get to the specific tips and techniques in just a moment. But first, I want to teach you a simple but effective way to assess your current level of curb appeal. Take a notepad out in the street in front of your house. Now imagine you're a buyer, and you've just pulled up in front of the house in your agent's car. Remember, it's not your house -- it's just one you're thinking of buying. On your notepad, write down anything that catches your eye in a bad way. The grass is turning brown, the windows are dirty, the bushes look shabby, that sort of thing. Be as specific as possible. Draw a sketch if necessary. For instance, if there's a particular area of the lawn than needs attention, or a certain part of the facade that needs painting, write those details down. When you have finished your list, it will serve as your plan of attack for improving your curb appeal. Prioritize the items by putting the most noticeable items at the top. This will be important later on, when you divide your list into (A) things that must be done and (B) things to do if time allows. Curb Appeal Essentials The notepad test will be more effective if you know what to look for. So review this list of curb appeal tips before and after you create your list. - Start by assessing your lawn. The grass should be green and healthy (unless it's winter). If your lawn has problems such as brown patches, you need to address those problems right away. Turning a lawn around can take time, depending on how severe the problems are.
- Is the exterior paint chipped or faded? If so, give it a fresh coat. It's relatively inexpensive, and it will do wonders for that critical first impression we talked about.
- When evaluating the paint, pay particular attention to the shutters, doors and trim. Sometimes you can get away with hosing them off. Other times they simply need to be painted. If the doors and shutters are painted different / contrasting colors, you may want to standardize them.
- Planting fresh flowers can really brighten up a yard. Healthy shrubs can do the same, and they don't cost much either. If you don't have a green thumb, enlist help from a friend of family member who does.
- The windowpanes should be spotless, and the frames around them should be free of dirt, chips and defects.
- Lighting can be used for aesthetic and safety reasons at the same time. If you have potential buyers coming by in the evenings, light up the walkways and entry. Consider using decorative lighting to illuminate landscaping features, trees, etc.
- Do you have vinyl railings, shutters or storm doors outside your home's entryway? If so, give them a good washing. You would be amazed at what a little elbow grease can do for these areas. It's quick, easy and affordable -- all you need is a hose, a bucket and some concentrated car wash liquid.
Create a Plan of Attack The key here is to avoid taking on too much work at once, or spending too much money. You need to strike a balance of cost versus gain. If you bite off more than you can chew and create a long list of improvements, you could delay your ability to show the property. Start small. Using the notes you created earlier (when standing in front of your house), create a checklist of all the projects you feel are necessary. Next, prioritize your projects by level of importance. Organize the list by things that must be done immediately, things that can wait, things that aren't a big deal, etc. That way, if you run out of money or time, you'll have the most important items out of the way first. And remember to start with the lawn! Making the grass greener is a gradual process, so start that right away. Conclusion and Going Forward Let's summarize some key points. Curb appeal is essential when selling a home because it gives buyers a good first impression. On the other hand, if they get a bad first impression when pulling up to the house, they will carry that negativity into the house with them. This is not something you want. Do what is necessary to improve your home's outward appearance, but don't take on so much that you postpone the listing / showing of the property. And get help where you need it, if you're not handy with a certain project. All of your efforts will pay off in the end. About the Author: Brandon Cornett is the publisher of the Home Buying Institute, which also features a section on landscaping tips and ideas. For more advice on this subject, visit the landscaping section at http://www.homebuyinginstitute.com/landscaping
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• 3,400 sq. ft., 6 bath, 6 bdrm 3 story - $595,000 - FOR SALE $595,000 Chimney Hills, Surrey - This home, located on a quiet cul-de-sac is like new, it is only 4 years old.
The 1st thing you will notice as you enter are the clean, bright laminate floors in the living and dining rooms. Look up at the high ceilings and the crown moldings. There is a gas fireplace in the living room.
The kitchen has beautiful maple cabinets c/w centre island. There is ceramic tile flooring in the kitchen. The Family room attached to the kitchen has an entertainment area at the end of it. There is a large covered deck off of the eating nook by the kitchen. It has a clear roof on the deck permitting full daylight into the rooms of the home. There is also a den and a powder room on the main floor. The den could serve as a main floor bedroom with the addition of a closet.
Upstairs, there are 4 bedrooms. Each bedroom has access to a bathroom. There are 2 master bedrooms each with their own bathrooms and the other 2 bedrooms have access directly to a common washroom. The main master bedroom has a large jetted tub, and separate shower.
The basement is fully finished with a 2 bedroom suite, plus there is a theatre room and 1/2 bathroom off of the theatre room that is reserved for the upper floor occupants. The theatre room could be a 6th bedroom.
The elementary school is 3 blocks away. The high school is about 10 blocks from this home. Shopping is about 15 minutes away at Guildford Mall, or on King George Highway. There are 4 golf courses within 10 minutes of this home.
This is a beautiful new family home c/w a mortgage helper in the basement to assist with your finances.
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Executive Dream Home Close to Beach!
• 3,600 sq. ft., 4 bath, 5 bdrm 3 story "2 storey plus basement" - $888,000 - For Sale $888,000 White Rock Central, White Rock - FOR SALE $888,000
This prestigious two-storey home boasts ocean and mountain views and features approximately 3600 square feet of living spaceThe grand foyer offers a 17-foot ceiling, a solid wood entry door with two stained glass windows, two side panel stained glass windows, and a stairway to the second level.
The gourmet kitchen boasts a large centre island, hardwood flooring, oak cabinetry, a tile backsplash, a built-in cooktop, a Jenn-Air wall oven, a large garden window, and a built-in dishwasher.
The second level offers four bedrooms, two bathrooms, and a cozy den/office.
The impressive master bedroom can accommodate a king-size suite and boasts a full ensuite with a double-wide Jacuzzi tub, a window seat, a large walk-in closet, and patio doors that provide access to a private 5-foot x 18-foot balcony. This balcony offers beautiful Mount Baker and ocean views.
The second bedroom boasts a walk-in closet, a second closet, a make-up counter and sink, and patio doors that access a second 5-foot x 18-foot balcony. This balcony also enjoys mountain and ocean views.
The lower level offers a fifth bedroom, a games room, a hobby room, a full bathroom, and a spacious 6-foot x 8-foot laundry room.
This gorgeous executive home boasts outstanding curb appeal and has additional exterior features that include a multiple car garage with a pass-through rear overhead door and Ultra-Stone flooring, a front driveway, a fenced backyard, a large concrete patio, two gas BBQ hook-ups, and is attractively landscaped with mature trees, perennials, a fig tree, blueberry bushes, and a concrete fountain.
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FOR SALE $489,900
• 2,450 sq. ft., 3 bath, 3 bdrm townhouse "3 level" - $489,900 Citadel Heights, Port Coquitlam - This impressive three-level townhouse boasts 2450 square feet of living space, three bedrooms plus a den, two and a half bathrooms, a family room, a double side-by-side garage, a balcony, a patio, and is located in Port Coquitlam’s desirable Citadel neighbourhood.
The welcoming foyer features ceramic-tile flooring, a single coat closet, and a half bathroom.
The eat-in kitchen boasts European-style cabinetry, track lighting, a double porcelain sink with a garburator, a tile backsplash, vinyl flooring, a dishwasher, a pass-through window to the family room, and includes the fridge and stove.
The spacious living room features wall-to-wall carpeting, a gas fireplace, and plenty of windows, which offer a beautiful panoramic view of Colony Farm Regional Park.
The family room has wall-to-wall carpeting, four windows, and a full-lite garden door, which provides access to the 15-foot x 10-foot front balcony. This balcony has beautiful mountain and Colony Farm Park views.
The dining room offers wall-to-wall carpeting and a chandelier.
The third level features the large master bedroom.
The impressive master bedroom features wall-to-wall carpeting, mirrored closets, and a full ensuite. This ensuite boasts vinyl flooring, a mirrored vanity, a soaker tub with a tile surround, and a separate shower stall. This bedroom also boasts stunning water and mountain views.
The lowest level features an office/den, a large laundry room, a full bathroom, and the two additional bedrooms.
The two lower level bedrooms feature wall-to-wall carpeting, double-mirrored clothes closets, and casement windows. One of the bedrooms also features a patio door, which provides access to the backyard patio area.
The den could also be used as a fourth bedroom and features wall-to-wall carpeting and a single clothes closet.
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Vancouver, BC – August 15, 2008. British Columbia Real Estate Association (BCREA) reports residential sales dollar volume on the Multiple Listing Service® (MLS®) in BC declined 38 per cent to $2.9 billion in July, compared to July 2007. Residential unit sales fell 37 per cent to 6,541 units during the same period. The average MLS® residential price in the province was $444,358, down 0.5 per cent from July 2007. "Home sales have slowed to a level not seen since the beginning of the decade," said Cameron Muir, BCREA Chief Economist. "BC households are now cautious about making major purchases in light of uncertainty around fuel prices and other inflationary pressures." "The slowdown in housing demand has swollen the inventory of homes for sale, putting downward pressure on home prices in some markets," added Muir. A total of 60,008 homes were for sale on the MLS® in July, an increase of 63 per cent from the previous year. "While this inventory is expected to decline in the coming months, most BC regions will remain in buyers’ market territory for the remainder of 2008." Year-to-date MLS® residential sales dollar volume in the province declined 18 per cent to $23.2 billion compared to the same period last year. Sales transactions fell 24 per cent to 49,448 units, while the average residential price increased 8.2 per cent to $469,676 over the same period. Source: BCREA
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