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




James Garbutt

Why you should buy or list NOW!

Why List in March?

1) Less competition: Lower inventory could result in a better selling experience due to lack of available listings to existing buyers.
2) Test the market: If you don’t see a great offer early, spring and summer markets are typically strong and right around the corner.
3) Put yourself in a buying position: Selling early in the year puts you in a stronger buying position in the spring/summer when there is a better selection of listings. This would reduce your financial risk and put you in a more favourable offer position.

 

Why Buy in March?

1) Less buyers: snow and rain keeps buyers indoors, which could help you get a better deal on the home you love.
2) Potential deals: Winter weather, less buyers, lingering inventory from the fall can lead to buying opportunities.
3) Seasonality: Every year is different, but in a typical year winter is slower than spring and summer. Take advantage of the slow season before more buyers show up.

Last year we helped over 100 families move on to the next chapter of their lives, and we hope to help more this year! If you’re thinking of buying or selling, or just curious about what your home is worth, give us a call!

 

 

SOLD 220 Durham St. in 2 weeks with multiple offers!

Buyer confidence is back and the market is picking up! 

We are coming off a very interesting and abnormal year in Greater Vancouver Real Estate.  Last year started off very slow! In March the headlines read ‘Vancouver home sales hit 33 year low!’  However, as the year progressed, buyer activity increased. July was the turning point where sales started outperforming the previous year and we finished the year off very strong with home sales in December up 88% compared to 2019 and above the 10 year average. 

We expect a busy year ahead and a significant increase in single family home sales.  It’s early in the year, but so far we have experienced more multiple offers and quicker sales. 

What does this mean for your home?

Inventory is low to start the year and there are lots of buyers looking to make the jump from strata to single family in New Westminster! Our recent sale at 220 Durham St, at the end of January, received 4 offers in 2 weeks on market and sold full price subject free! 

Contact us to see what your home is worth today!

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!

 

 

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:

New Westminster – Queen’s Park: 323 Regina Street

Price: $1,375,000
Lot Size: 66×122 (8,052 Sq. Ft.)
House size:  3,107 Sq Ft.
Bedrooms: 4
Bathroom: 2
Year Built: 1928
Zoning: RS1

 

 

 

 

Why I Chose it:

  • Reasonable price for the neighbourhood
  • Great location
  • Located near all amenities in Uptown New Westminster
  • Home is not in the protected category. Possible future redevelopment potential
  • Mostly level lot

New Westminster – Glenbrooke North: 218 Ninth Avenue

Price: $ 950,000
Lot Size: 52 x 103.5 (5,382 Sq. Ft.)
House size:  1,654 Sq Ft.
Bedrooms: 3
Bathrooms: 1
Year Built: 1946
Zoning: RS-1

 

 

 

 

Why I Chose it:

  • Location: a short walk over to the McBride Shopping Plaza
  • Generous sized home
  • Great neighbourhood
  • Quiet street
  • Hold for now, build later
  • Price point is under $1 million

East Burnaby – Edmonds: 7274 Stride Avenue

Price: $ 1,070,000
Lot:
53 x 120 (6,360 Sq. Ft.)
House size:  2,000 Sq Ft.
Bedrooms: 4
Bathroom: 2
Year Built: 1949
Zoning: R5

 

 

 

 

 

 

 

Why I Chose it:

  • Location – in an area of high redevelopment
  • Close to Edmonds Skytrain Station
  • Great for future potential

Vancouver East – Fraser: 765 E 24th Avenue 

Price: $ 1,500,000
Lot: 33 x 122 (4,026 Sq Ft.)
House size:  2,054 Sq Ft.
Bedrooms: 5
Bathroom: 2
Year Built: 1927
Zoning: RS-1

 

 

 

 

Why I Chose it:

  • Location: Close to Downtown Vancouver
  • Has duplex zoning
  • Needs some updating
  • Lot size is a standard Vancouver 33 foot wide lot.
  • Quieter street

Vancouver East – Grandview Woodland: 2245 William Street  

Price: $ 1,398,000
Lost Size: 33 x 122  (4,026 Sq. Ft.)
House size:  1,964 Sq Ft.
Bedrooms: 3
Bathroom: 1
Year Built: 1929
Zoning: RS-7

 

 

Why I Chose it:

  • Great price point for the neighbourhood
  • Tree-lined street
  • Great sized lot
  • Close to Downtown Vancouver
  • House is livable
  • Don’t wait, put an offer in today

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 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.

 

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 – MacKenzie Heights: 2929 W 29th Avenue

Price: $1,888,000
Lot Size: 33×123.3 (4,068.90 Sq. Ft.)
House size:  2,354 Sq Ft.
Bedrooms: 3
Bathroom: 3
Year Built: 1937
Zoning: RS-5

 

 

 

 


Why I Chose it:

  • Reasonable price
  • Great location
  • Located near Balaclava Park and arterial routes to Downtown Vancouver, YVR, and highway 99
  • Best price in the neighbourhood for a standard 33 foot lot.
  • Mostly level lot

Vancouver West – Point Grey: 4023 W 15th Avenue

Price: $ 2,450,000
Lot Size: 33 x 121.92 (4,023.36 Sq. Ft.)
House size:  1,930 Sq Ft.
Bedrooms: 4
Bathrooms: 2
Year Built: 1928
Zoning: RS-1

 

 

 

Why I Chose it:

  • Location: Steps to Lord Byng Secondary School
  • Generous sized home
  • Great neighbourhood
  • Quiet street
  • Shopping and schools nearby
  • Hold for now, build later.

North Burnaby – Government Road: 8263 Government Road 

Price: $ 1,588,000
Lot:
70 x 140 (9,800 Sq. Ft.)
House size:  5,778 Sq Ft.
Bedrooms: 5
Bathroom: 6
Year Built: 1996
Zoning: R1

 

 

 

 

Why I Chose it:

  • Location – premier neighbourhood
  • Price point is very aggressive
  • Great quality Italian style build.

Vancouver West – Dunbar: 4054 W 31st Avenue 


Price:
$ 2,380,000
Lot: 33 x 130.75 (4,314.75 Sq Ft.)
House size:  2,403 Sq Ft.
Bedrooms: 3
Bathroom: 2
Year Built: 1931
Zoning: RS-5

 

 

 

 

Why I Chose it:

  • Location: Close to St. Georges, UBC, Jericho and Spanish Banks, and YVR
  • Fair price point
  • Needs some updating
  • Lot size is great.
  • Quiet street

Vancouver West – Shaughnessy: 1130 W 29th Avenue  

Price: $ 2,499,000
Lost Size: 55 x 97.95  (5,387.25 Sq. Ft.)
House size:  2,840 Sq Ft.
Bedrooms: 5
Bathroom: 3
Year Built: 1925
Zoning: RS5

 

 

 


Why I Chose it:

  • Great price point for the neighbourhood
  • Great sized lot
  • Close to Downtown Vancouver
  • House is livable
  • It is in one of the best neighbourhoods Vancouver has to offer.
  • Don’t wait, put an offer in today

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 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.