30% of Yaletown 1-Bedroom Condos Currently Sell Below Tax Assessed Value

by Kent on June 22, 2012

The tax assessed value of a home is generally a barometer of what a home is worth.  It is by no means the market value of a home, the minimum amount a home will sell for, or the price at which a home should be listed at. By using the tax assessed value alone to [...]

{ 0 comments }

Yaletown Condo Market – May Analysis

by Kent on June 11, 2012

Yaletown 1-bedroom condo sales are down year-over-year and month-over-month.  Even though there have been fewer sales, this year has had little affect on sale prices: looking at price-per-square, we see that 1-bedroom condo prices have little change for the month of May year-over-year.  However, the average and median overall price of 1-bedroom condos has increased [...]

{ 0 comments }

Downtown Condo Resale Market – May Market Analysis

June 6, 2012

The condo resale market in the Greater Vancouver region is down 13% year-over-year for the first 5 months.  However, according to MLS data, percentage decreases for the Downtown condo resale market is even greater: Coal harbour is down 33%, Downtown VW and Yaletown are both down 21%, and the West End is down 20% year-over-year.  [...]

Read the full article →

For Homeowners: the 3R’s in a Buyer’s Market

May 25, 2012

Many neighbourhoods in Vancouver’s real estate market are experiencing a buyer’s market right now.  Realtors and mortgage brokers tend to be the first industry to be affected.  However, the home construction industry – from the tradespeople and contractors who do the work to the hardware stores that supply them – is also affected by the [...]

Read the full article →

Real Estate Reader – $90,000 salary for a 1-bedroom condo?

May 18, 2012

$90,000 salary for a 1-bedroom condo? In a recent article in the Globe and Mail: “[Vancouver Housing Planner Dan Garrison] said rental housing continues to be the only option for many people in Vancouver, where it takes an income of $90,000 to buy a one-bedroom condo, $160,000 for a two-bedroom.” Vancouver home prices may be expensive, [...]

Read the full article →

April Sales in Yaletown: Balanced Market & Prices decline

May 16, 2012

According to MLS sales data, there were 62 real estate sales in Yaletown in April 2012 and 146 new listings during that same time.  With a sales-to-new listings ratio of 0.42, the Yaletown real estate market is at the lower end of a balanced market (Note: according to the CMHC, a sales-to-new listings ratio between [...]

Read the full article →

Real Estate Reader – Canadian Luxury Condo Market

May 14, 2012

  The Canadian Luxury Condo Market The number of luxury condos, defined here as condos that are being offered at above 1 million dollars, is set to increase substantially in Toronto according to an article in the Globe and Mail.  Although Toronto is experiencing a boom in condo prices and sales of late, the resale [...]

Read the full article →

5 Steps to Buying a Home (5/5): Completion and Possession

May 11, 2012

Step 5 – Completion and Possession On completion date, you will go to your notary public or lawyer’s office to sign documents that will finalize the purchase.  Make sure you bring official identification and the balance of your down payment to your meeting in the form of a bank draft or cashier’s cheque.  The notary [...]

Read the full article →

Real Estate Reader (05-11-12)

May 11, 2012

  Is Now a Good Time to Sell? An article published in the Vancouver Sun suggests that “if you are purely in it for reaping profits, now is not a bad time to sell” –  especially since homes prices may have already peaked and are predicted to go into decline in the next one or two years. [...]

Read the full article →

5 Steps to Buying a Home (4/5): Closing the Deal

May 10, 2012

Step 4 – Closing the deal Once you have your offer accepted, you need to fulfill the subject clauses written into the contract of purchase and sale in the timeline indicated in the clause before the contract is finalized (also known as removing subjects). If <subject clause below> is written in contract… You need to… [...]

Read the full article →

← Previous Entries