Timeline:

GARBUTT + DUMAS REAL ESTATE TEAM
630 Fifth St
New Westminster, BC, V3M 2X9
604.805.3115
info@gdrealestate.ca




James Garbutt

January 2020 Market Update

January 2020 Market Update

2019 was a very interesting (and abnormal) year in Greater Vancouver real estate. Typically we see the strongest market activity in the spring, but in 2019 we were off to a slow start, and the sales activity improved as the year went on. In March the headlines read ‘Vancouver home sales hit 33 year low!’, and by December home sales were up 88% compared to December 2018, and 9.5% above the 10 year December average.  Buyer confidence was the main factor.  In the first quarter, many prospective buyers were holding off and waiting to see if prices would continue to fall due to changes in the mortgage stress test and new taxes. However, confidence started to return in the summer, and we saw above average sales in the fall 2019.

It feels like the market bottom is behind us and we’re no longer seeing downward pressure on prices.  For all property types, the sales-to-active listings ratio for December 2019 is 23.4 per cent. By property type, the ratio is 15.2% for detached homes, 25.7% for townhomes, and 32.5% for apartments.  Generally, analysts say that downward pressure on home prices occurs when the ratio dips below 12% for a sustained period, while home prices often experience upward pressure when it surpasses 20%.

Averages tell a general market story, but there are many markets within Greater Vancouver.  We’re seeing differences amongst cities, product types and price points.  Luxury real estate continues to struggle and experience a buyers market, whereas entry level condos are experiencing bidding wars and seller’s market conditions. Based on these recent trends, we expect the stronger sales in the lower price points to trickle up to higher price points over the coming months. Since the financial markets are up, mortgage rates are low and buyer confidence is back, our expectation is that market activity will continue to strength over the coming months.  Expect more bidding wars for entry price point houses, condos and townhouses. As for the luxury market, expect sales to increase, but it will likely take a few years for it to catch up to 2016/2017 pre-foreign tax levels.

405 Second St. Renovations! Before & After.

Renovations Complete on 405 Second St.

James and Denny decided finished their full renovation project of a beautiful craftsman style heritage home in New Westminster. It was a lot of work and the progress was well documented!

Located on one of the most picturesque tree lined streets in NW, this home is a beautifully restored 1932 craftsman style home! The perfect combination of 1930’s architecture and clean, modern, high end finishes. Great family layout features 5 bedrooms, 3 full bathrooms, 3523 sf and full height finished basement with suite potential. Original Oak hardwood runs through main floor, original ceiling medallions and light fixtures through out, stained glass windows, beautifully updated kitchen with stainless appliances, custom cabinetry, hex tile floors and quartz counters. 2 bedrooms on the main floor, 2 large bedrooms upstairs, including a gorgeous master with a vaulted ceiling walk in closet. Basement features 1 bedroom, large rec-room and mud room.

Here are some before and after photos and click here to check out James’ youtube channel where you will find lots of progress videos of 405 Second St.!

Interested in viewing this home? Contact us today to set up an appointment! 

 

G+D Pumpkin Patch 2019

G+D Pumpkin Patch

This year we put on our very first pumpkin patch at the G+D headquarters for our amazing clients and their families! We had halloween treats, drinks, games & photos. If you missed this years pumpkin patch… don’t worry! We are already planning next years!

Enjoy some of our favourite photos from the event!

 

#POMOLIFE: Episode 7 – Suter Brook Village

PORT MOODY!⁣⁣⁣ What is your favourite place in Suter Brook?

We are coming for you in our newest episode of #PoMoLife. We are talking about our favourite places, what makes it great and why we visit on the daily! ⁣⁣It’s time you learn about one of the great villages surrounding Port Moody. An amazing place to call home, the city with a Deep Cove vibe and Lonsdale potential.⁣ Those who know….KNOW!!!⁣⁣

If you have any suggestions on where we should visit next, comment below!

 

 

#POMOLIFE: Episode 6 – The Legion

PORT MOODY! Who knew The Legion could be so fun? And who knew Monica was so good at darts?!

Beer, darts, pool, beer, a patio that allows dogs, cards… did we mention beer? Watch Lucas & Monica’s day at The Legion below!

If you have any suggestions on where we should visit next, comment below!

 

ZERO TO HERE PODCAST – G+D TEAM #2

Summer Market Update with the G+D Team

Denny hosted the G+D real estate team again for another discussion on the Vancouver Real Estate market and what may be coming up in the summer.

Learn more about our team here.

Check out more episodes on Denny’s Zero to Here podcast here.

 

#POMOLIFE: EPISODE 4 – U-BICYCLE TOUR THROUGH NEWPORT

PORT MOODY! THE U-BICYCLE TOUR… DOES MONICA SURVIVE THE SKATE PARK?  FIND OUT BELOW!

We have passed by these U-bicycle stations all over Port Moody and finally decided to give it a go! Quick app download and we were on our way. Yes, we wore our helmets #safteyfirst!

Port Moody is surprisingly rideable, even for someone that hasn’t ridden in a hot minute. Guys, if you haven’t tried this you are missing out. We made it to Moody Ales from Newport Village in 8 minutes on our “Lunch Break”!

 

 

Spring 2019 Market Update

Surprise surprise… It’s slow. In terms of units sold, statistically the month of March was the slowest it’s been in 33 years! However, don’t let the media headlines fool you, it’s not that bad for all property types. It may be a ‘Buyers Market’, particularly for luxury homes, fixer uppers and land value, but many entry level homes, condos and desirable areas are experiencing more of a ‘Balanced Market’, we have even experienced a few bidding wars. Check out this video to learn more about our thoughts on the 2019 Spring Market.

 

 

 

 

Shawn’s Deals

LOOKING FOR REAL ESTATE DEALS? FORECLOSURES, ESTATE SALES OR GREAT INVESTMENT OPPORTUNITIES?

Shawn is the G+D deal hunter.  He loves to explore Greater Vancouver to find the best real estate opportunities

Here are my deals of the week:

Vancouver West – Marpole: 8032 Shaughnessy Street

Price: $1,738,000
Lot Size: 33×121.46 (4,088.18 Sq. Ft.)
House size:  1,823 Sq Ft.
Bedrooms: 4
Bathroom: 2
Year Built: 1946
Zoning: RS-1

 

 

Why I Chose it:

  • Reasonable price
  • Great location
  • Located near Oak Park and arterial routes to Downtown Vancouver, YVR, and highway 99
  • Built after 1941 which makes it slightly easier to build on in the future.

Vancouver West – Cambie: 115 W 39th Avenue

Price: $ 2,748,000
Lot Size: 49.50 x 122 (6,039 Sq. Ft.)
House size:  3,065 Sq Ft.
Bedrooms: 4
Bathrooms: 4
Year Built: 1980
Zoning: RS-1

 

 

 

Why I Chose it:

  • Location: Steps to Oakridge and Queen Elizabeth Park, easy access to Downtown Vancouver and YVR
  • Generous sized home
  • Great neighbourhood
  • Quiet street
  • Shopping and schools nearby
  • Hold for now, build later.

East Burnaby – Edmonds: 7274 Stride Avenue 

Price: $ 1,125,000
Lot:
53 x 120 (6,360 Sq. Ft.)
House size:  1,750 Sq Ft.
Bedrooms: 4
Bathroom: 2
Year Built: 1949
Zoning: R5

 

 

 

 

 

Why I Chose it:

  • Location – Close to all amenities.
  • In an area of high redevelopment.
  • Hold and rent and see what the city allows in the future.

Burnaby North – Brentwood Park: 4708 Westlawn Drive 


Price:
$ 1,499,000
Lot: 55 x 122 (6,705 Sq Ft.)
House size:  2,892 Sq Ft.
Bedrooms: 4
Bathroom: 2
Year Built: 1958
Zoning: R-10

 

 

Why I Chose it:

  • Location: Close to Brentwood Mall.
  • Fair price point
  • Needs some updating
  • Lot size is great.
  • Quiet street

Burnaby South – South Slope: 4568 McKee Street  

Price: $ 1,550,000
Lost Size: 55 x 157  (8,635 Sq. Ft.)
House size:  2,000 Sq Ft.
Bedrooms: 5
Bathroom: 2
Year Built: 1953
Zoning: R2

 

 

 


Why I Chose it:

  • Corner lot with alley and view
  • Great sized lot
  • Close to Metrotown
  • Can build a large home over 4,200 Sq. Ft. (consult with the city for a definitive density)

LOOKING FOR A DEAL? CONTACT US TO HELP ACHIEVE YOUR REAL ESTATE INVESTMENT GOALS. SHAWN LOVES LOOKING DEALS!

Direct:
Shawn Kambo
c. 604.360.4774

#POMOLIFE: EPISODE 3 – ESPRESSO, ESPRESSO & MORE ESPRESSO!

#PoMo Life – The Espresso Contest! Which espresso will be named the best espresso in all of Port Moody?!

On this episode Lucas & Monica tried a bazillion espressos from all of their fav local coffee shops in #PortMoody. They tired out The Beanery in Coquitlam (*they found out this is actually not in Port Moody), Black Sugar Coffee, Cafe Divano, JJ Beans & Romers.

Did you guys know the proper way to drink espresso was by pouring it directly in to your mouths however you see fit? Well now you do. You’re welcome.

Watch below & make sure to check back next week for our next episode of #PoMoLife.

There is a lot going on in our city, Port Moody and we are going to highlight new and old businesses AND events! We have some serious ground to cover and we are open to requests! If there is a new spot that you haven’t tried, let us know.

 

 

 

#PoMoLife: Episode 2 – Gabi & Jules

#PoMoLife – A Visit to Gabi & Jules in Port Moody

This time we stopped by Lucas’s favourite sweets spot Gabi & Jules. There were so many delicious choices! One of the things we love most about Port Moody is the culture. Kindness and Inclusiveness is a major theme in this town and Gabi and Jules is helping set the tone. If supporting good, honest businesses gives you the warm fuzzies treat yourself to a pre-Easter treat this week!

Lucas & Monica enjoy a pie eating contest during this weeks episode! Find out who wins & who cheats… only 30 seconds to finish their pie… and GO!

Watch below & make sure to check back next week or our next episode of #PoMoLife.

There is a lot going on in our city, Port Moody and we are going to highlight new and old businesses AND events! We have some serious ground to cover and we are open to requests! If there is a new spot that you haven’t tried, let us know.

 

#PoMoLife: Episode 1 – Port Moody Refillery

Introducing PoMo Life with Lucas and Monica!

There is a lot going on in our city, Port Moody and we are going to highlight new and old businesses AND events! We have some serious ground to cover and we are open to requests! If there is a new spot that you haven’t tried, let us know. We’ll make Lucas try it if it’s questionable, otherwise we are totally in this together. We will be posting a new episode every week! We hope you enjoy.

Who’s up first? PORT MOODY REFILLERY #PoMoLife

The Port Moody Refillery provides environmentally friendly, locally produced soaps & cleaners for your body and home. Owners, Teresa and Julie believe that there is a desire in the community to move towards a more sustainable lifestyle. Not having access to bulk and package-free cleaning products motivated Teresa and Julie to bring a refill shop closer to home! Reuse your containers + reduce single use plastics! To learn more about their business visit their website or go say hi at 229A Newport Drive (inside Tea & Paper Nook), Port Moody. We loved what they had to offer & we will be back soon!

They are on social media! Give them a follow on Instagram & Facebook