Timeline:

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




James Garbutt

Shawn’s top picks for investment properties

Shawn’s Weekly Top Picks for Investment Properties

Every week I will be posting 3-5 listings that I think are great investments for those who are looking to buy and hold, build, and move in. The neighbourhoods that I will be exploring are:

  1. Vancouver West
  2. Vancouver East
  3. East burnaby
  4. South Burnaby
  5. North Burnaby
  6. New Westminster
  7. Surrey

Why are you doing this?

There are so many aspects to take in to account when finding the right investment property.  You want to look at location, price point, location of that exact property, the details of the home and any issues with the lot. Whether it’s sloped, at a high point on the block that allows for a view or whether it’s riddled with trees that make it near impossible to build on without going through a lengthy process with the city halls. I will try to narrow searches down for you to make the selection process easier.

Vancouver West: 4454 W 13th Avenue

Price: $ 2,398,000
Lot: 33 x 122 (4,026 Sq Ft.)
House size:  2,356 Sq Ft.
Bedrooms: 5
Year Built: 1930
Zoning: RS-1

 

 

 

 

 

Why I Chose it:

The location is key. The price point is also great for Point Grey and the homes shows rentability. This is great while waiting for the development permits. This home is in modest shape and there appears to be little to no large trees on the lot. Although the 1930’s age may require a large portion of the home to be recycled, roughly 75%+. The RS-1 zones have recently been allowed duplexes, but given the neighbourhood elevations, a single family home with a lane way home would be best suited for the neighbourhood. In addition, the RS-1 zone allows for up to 70% FSR buildable. Please refer to the building guidelines as every house design may not qualify for the density bonus from the 60% shown on the zoning plan. The finished buildable maxed out at 70% is over 2,800 Sq Ft.

Vancouver East: 82 Ontario Place 

Price: $ 1,788,000
Lot: 33 x 121.93 (4,023.69 Sq Ft.)
House size:  2,356 Sq Ft.
Bedrooms: 6
Bathroom: 3
Year Built: 1969
Zoning: RS-1

 

 

 

 

 

Why I Chose it:

Why I chose it: The location is key. It is nestled between Main and Cambie which are direct routes to downtown Vancouver. It is a few blocks over from one of the largest developments in Vancouver, Oakridge. The price may be a bit high but the location is great!

East Burnaby: 7274 Stride Avenue

Price: $ 1,199,000
Lot: 53 x 120 (6,360 Sq Ft.)
House size:  2,425 Sq Ft.
Bedrooms: 4
Bathroom: 2
Year Built: 1949
Zoning: R5

 

 

 

 

 

 

Why I Chose it:

The location is key. This property sits a block away from the South Gate development, which is lead by Ledingham McAllister which will be 60 acres large and home to a new community. This home may be rezoned to higher density possibly two family infill housing. This will need to be verified with the city. The location is also a few blocks over from the Edmonds Skytrain station that is easy access to Vancouver and other parts of Metro Vancouver.

New Westminster: 2038 8th Avenue

Exterior FrontPrice: $ 1,249,000
Lot: 50 x 120 (6,000 Sq Ft.)
House size:  2,775 Sq Ft.
Bedrooms: 5
Bathroom: 3
Year Built: 1945
Zoning: Future NR2

 

 

 

Why I Chose it:

The location is key. This property Is two blocks away from the 22nd Street Skytrain Station and is in the New Westminster Official Community Plan for higher density. Higher density can be either infill (townhome) housing or low rise multi-family. The city would need to be consulted for verification. The home has also been tastefully renovated

New Westminster: 825 Dublin Street

Price: $ 1,249,000
Lot: 49.50 x 130 (6,435 Sq Ft.)
House size:  2,191 Sq Ft.
Bedrooms: 4
Bathroom: 2
Year Built: 1912
Zoning: NR1

 

 

 

Why I Chose it:

Why I chose it: The location is key. It is in the heart of New Westminster. Easy walking distance to New Westminster Secondary, Moody Park and some restaurants. It is also off of 8th Street which gives access to the #1 highway. It is also on the North side of Dublin which is then high side of the suite and with the additional square footage allowable in the basement for NR1 makes this is a great purchase for a building property. Be wary that there is one large tree in the back. Although the city has tree bylaws, there may be a chance to replace the current tree.

Fall 2018 Market Update

THE MARKET HAS SLOWED

We’re in a correction, but it’s nothing like the 2008 crash.  This year we have seen a slow down in overall market activity as the volume of real estate sales is down compared to this time last year.  We had a good run, through 2016-2017 we saw a 40-50% increase in property values which is not sustainable growth.  Now, the market is becoming more balanced, less chaotic, which means that buyers are able to put subjects on their offers again. The days of bidding war after bidding war, and buyers taking on extreme risk of subject free offers seem to be over… for now.

WHAT ARE HOUSING PRICES DOING?

Well… it depends.  Every property type and city seem to be experiencing different levels of change.

LESS EFFECTED

We’re seeing about 5-10% reduction off peak pricing for your typical condos, townhouses and detached houses in the markets we work in. These are for your move-in ready, entry to mid level price points.

      

Least Effected:

  • Condos in Vancouver under $1M, and     suburb condos under $700K
  • Townhouses in Vancouver under $1.2M, and suburb townhouses under $900K (excluding Fraser Valley)
  • Houses under $1.6M

In terms of cities, less expensive suburbs close to Vancouver (New Westminster, Port Moody & Port Coquitlam) seem to be holding up particularly well.

MOST EFFECTED

  • Luxury homes
  • Land value
  • Fixer uppers
  • Busy streets or prominent negative feature

For some property types we’re seeing upward of a 20% adjustment from peak pricing.  In terms of cities, the more expensive ones; West Vancouver, North Vancouver, Burnaby, Richmond, Vancouver West. Due to significant increase in supply of $2M+ homes. In the hot 2016 and 2017 market, buyers were less picky, foreigners were propelling the luxury market and builders were hungry for land.  All of this has changed.

UNAFFECTED?

Pre-sales for new condo developments remain to be hot.  We’re still seeing peak pricing, lineups and quick sellouts in this sector.  In particular, we’re referring to more affordable price points, in desirable locations with easy access to public transit. Too much speculation? We’ll have to wait and see.

WHAT’S NEXT?

New mortgage stress test and higher interest rates!  Long story short, lending is getting tighter.  Buyers that qualified for a $500,000 mortgage in 2017, and now qualified for $400,000.  This paired with and increase in interest rates of more than 1% in the last 18 months could start showing it’s colours in late 2018 or early 2019.

Stress test info: https://www.ratehub.ca/blog/how-to-stress-test-your-mortgage/

OUR THOUGHTS & PREDICTIONS: 

JAMES: “It’s hard to predict a crash, and corrections happen often.  In fact, we’ve seen fall market corrections over the last 3 years.  This one is slightly worse than the previous years, which is due to an oversupply of expensive real estate.  Personally, I believe that we’re in the worst of themarket correction now.  The stats are out there, fear is out there and the media is publishing negative press… same as every correction in previous years. We just seem to forget.”

DENNY: “The Fall is likely going to have a surge in sales activity for a couple months, but I expect prices to remain flat.  Typically we see the activity pick up in the New Year, so I would not be surprised if the market goes on a small run early in 2019.  As for next spring, I think we’ll see an increase in prices of around 5-10%, due to the seasonality of the real estate market and buyer/seller behaviour.”

JAMES: “Buyers, keep looking and think long-term.  Ignore the media and buy with confidence if the right place comes up.  The inventory is higher than its been in the last couple years, demand is down and I think there will be some great opportunities out there this Fall. Plus, enjoy the luxury of a subject offer… it was rare for 

most of 2016 & 2017.”

DENNY: “Sellers, keep things in perspective. Timing the peak of any market is impossible to predict, but looking back to 2015, property values are still 25-50% higher today dependant on location. That’s a pretty solid return on investment in a very short period of time. If you are thinking of selling this Fall, be realistic about pricing. Over pricing a listing in this market can be detrimental to its success, and could result in a frustrating experience. Good product will sell, but expect a few more days on market than we’ve seen in previous years.  Now is not the time to launch that $3 Million dollar home. Wait till spring.”

 

Pier West | A dynamic new waterfront development in New Westminster

Project: Pier West

Address: 600 & 700 block of Quayside Drive, New Westminster, BC

Builder: Bosa Development

Units: 665

Pier West will be the tallest waterfront residential property in the lower mainland, reaching heights of 43 and 53 stories.

Pier West by BOSA is a landmark development for New Westminster’s already thriving and dynamic waterfront community. The project includes two residential towers, one of which will be the tallest building on a Metro Vancouver waterfront (reaching heights of 43 and 53 stories).  These two modern towers feature 665 units, 1,000 public & residential parking stalls, and over 15,000sqft of new waterfront dining, shops and services. Pier West  will be located within a 6 acre park connecting the beautiful 12.5 acre Fraser River boardwalk.  This is the premier opportunity for waterfront living in one of the Lower Mainland’s most coveted locations.

Pier West will be located steps from historic Columbia Street, featuring restaurants, yoga studios, live music bars, and boutique shops. To the West, a quick 5 min walk will take you to River Market with groceries, cafes, restaurants, shops, and access to New Westminster Skytrain Station and Shops. Only a 30 minute commute to Downtown Vancouver and 20 minutes to Coquitlam or Langley, putting you right in the centre of Greater Vancouver.

If you have considered investing in real estate or are thinking about a move, this is a fantastic opportunity that you will not want to miss! Exclusive viewings are expected to begin in early February 2018. The West tower (660 Quayside Dr)  has an estimated completion of Early 2022.

Pricing & Deposit Structure: TBA

Contact us for more information about this highly anticipated development!

Northeast Views of the Fraser Valley and Tri-Cities Mountains


Modern design and comfort

This amazing location is walking distance to shops, restaurants, parks, schools, transit, and more!

 

G + D Giving Back to Children’s Wish

Hearing ‘you are getting a wish’ can elicit many reactions.  For 15-year old Ben it felt like winning the lottery.  For us, it was an incredibly rewarding experience.

We had the pleasure of meeting Ben and his mother Jane at Steel & Oak Brewing Co.   We shared stories about life, about their trip to Fiji, got to know each other, and showed them the inner workings of a production brewery.  Although he’s too young to drink, Ben is really into science and thought it was a great experience.  He had lots of questions, and many that I couldn’t answer, so head brewer Eric had to take over the tour.  At the end of it, we traded beer swag for farm fresh eggs, made a true connections, and felt that we made a positive impact on a great family.

Ben’s story:

Born with a complex heart condition called Tetralogy of Fallot, Ben hasn’t had an easy life. Heart surgeries have punctuated his childhood – the first occurred when he was a baby and the most recent was just over a year ago. Ben’s condition has affected his whole family. His mom Jane remembers the precarious times when “the strain [of being] focused on one child’s existence was painful…my other children were small and I felt such guilt when I couldn’t be physically and emotionally with them.” Ben is the youngest of four, with three older sisters; unsurprisingly he is a considerate and outgoing kid.

Granting the Wish:

To celebrate Ben’s stable health and honour this journey the whole family has been through, Ben chose to visit Fiji with his family this spring. The wish was a week in paradise – Ben surfed, made local friends, swam in the crystal blue waters and spent much-needed time with his family. The trip became a reality thanks to our donation (which feels great!).

Ben’s wish and the 1,000 others granted by Children’s Wish Foundation of Canada every year are funded solely by the generosity of our community.  I met Hannah (Development Coordinator for Children’s Wish) randomly at a wedding in French castle last fall, we discussed Children’s Wish and what they do, and after a few drinks I said ‘count me in!’.  I’m certain she didn’t think she would hear back from me, but that was not the case.  I was very inspired by the work she does, and when given the opportunity to contribute we gladly stepped up.

This was an incredible experience and something that I’ll never forget. When you hear the story that Ben and his family have been through, there is no better feeling than rewarding them with an amazing trip to Fiji.  We hope this is just the first of many wishes we grant because it sure feels good.

(Ben asking hard questions, James making up answers)

“There is profound joy and magic that comes from granting a wish for a child with a life-threatening illness. For our wish kids, their families and donors, wishes really do work wonders.” – Hannah

Left to Right: Jennifer (Children’s Wish), Jane (Ben’s Mom), Ben, James, Hannah (Children’s Wish)

Thank you Hannah, Jennifer and Children’s Wish for making this happen!

Ben, we look forward to having a beer with you in 2021 😉

 

Cheers,

– James, Denny, Rosa & Jakub (The G+D Team)

Donate to Children’s Wish Here

 

The winter that won’t quit

We thought we were done with winter.

We thought it was safe to start thinking about crocuses…

The mounds of snow and ice from a series of snowstorms in December had finally melted away when winter returned.

It’s been an exceptional season in these parts. We’re usually lucky to get away with one or two snowfalls through the season. And they’re quickly washed away by relentless rain.

But this year the cold and snow have stuck around. That’s made it tough for people to get around, navigating sidewalks that haven’t been shovelled, searching for parking in lots shrunken by sky-high piles of ploughed snow and ice.

It’s also created challenges for real estate. Photos of new listings can date pretty quickly when they’re shot through snowdrifts. We’ve got to remember to pack shovels to clear walkways when we’re hosting open houses.

There's been a lot of extra work in this winter that won't quit

Shovelling a path through the snow to an open house is all in a realtor’s day’s work this winter.

 

On the upside, sleds that were purchased years ago are finally out of storage, we’ve actually been able to skate on outdoor, natural ice (for a few days at least), the skiing has been fabulous and our familiar surroundings have taken on a whole new beauty.

So cozy up to the fireplace, snuggle into your favourite blanket and enjoy this stroll through our latest blast of winter. We’ve endured the cold so you don’t have to!

Snow day for real estate

Do realtors get a snow day?

It’s been a crazy, busy year for us. We’ve sold over 140 homes, and we’re already fielding enquiries for new listings in the new year!

Typically, December is a slow time. It gives us a chance to catch up on day-to-day tasks that get moved aside in the rush to arrange showings, conduct open houses, sort paperwork, write contracts, stage homes for photo shoots, sweat market trends and the myriad other things a realtor does to help sell your home or find you a new one.

One of those tasks is planning for bigger and better things next year.

But when the weather takes a turn from nearly two straight months of rain to give us our first snowfall of the season, it’s nice to be able to take a snow day!

We live in a beautiful part of the world. Ceaseless days of rain can make us forget that. Until the temperature dips a few degrees and the rain turns to big white flakes.

Beauty has returned. In monochrome.

We can get back to work tomorrow…

Infill housing being considered in New West

Infill housing like laneway homes and coach houses isn’t yet allowed in New Westminster. But that could soon change.

Communities around Metro Vancouver are trying to come to grips with rising housing prices that are limiting choices for families and young adults. Some are being forced out of the cities and neighbourhoods they love. The problem is compounded as available land is built out.

Filling in existing properties with more types of housing is one solution.

The City of New Westminster is currently reviewing its Official Community Plan to create a vision that will meet the city’s housing and land use needs for the next 25 years. Infill housing is part of that plan.

Infill housing like laneway homes create more options for residents

The design and construction of infill housing like laneway homes is often strictly regulated so they conform to the neighbourhood.

 

Guidelines for infill housing

In September a draft report on design guidelines for infill housing like laneway, carriage homes and triplexes was presented to city council. The report is part of an ongoing review of land uses in the city’s Official Community Plan to regulate its future growth. More housing choice beyond single family homes and apartments or condos is one of the goals of the plan. In fact, two-thirds of the participants in a series of workshops supported laneway and carriage homes.

But wanting infill housing like laneway homes is still a long way from actually getting it. Infill housing has to be designed to fit within existing neighbourhoods and have minimal impact on streetscapes and neighbours.

Already the city has determined two neighbourhoods will need special attention as it considers infill housing: Queensborough because it has no lanes and Queen’s Park because of its heritage  character.

In its report, the city is proposing infill housing like laneway and carriage homes can be 350-950 square feet. They’d also have to be at least 16 feet from the main house and four feet from neighbouring properties “to help ensure adequate open space, light and privacy for the new unit and the main house.”

Each laneway home would also have to have its own private outdoor space of at least 160 square feet and there would have to be a planted area between the home and the lane to “create an attractive interface between the lane and the new unit.” A three-foot path from the unit to the street would also be required to make it easy for emergency services and visitors to find it.

Laneway homes could also be two stories, but the second storey would have be smaller than the first, integrated into the roofline and its windows would have to be oriented to minimize overlook into neighbours’ yards.

There’s also guidelines for lighting, parking and even the removal and protection of trees. And the city must decide whether each infill housing project must apply for rezoning, or whether it will amend zoning generally to allow the construction of laneway homes and carriage houses.

Public consultation for infill housing

The city is in the midst of public consultations including open houses and workshops to consider the draft guidelines for infill housing like laneway homes and carriage houses. The next one is Saturday, Oct. 15, at Richard McBride School.

There’s also an online survey.

The guidelines will then be presented to a design panel and the city’s Advisory Planning Commission. That will be followed by consultation with stakeholders like builders, designers and developers.

The report also recommends once the guidelines have been finalized, the city should issue only a set number of permits as a trial period to determine their success and viability.

Laneway homes becoming popular

Laneway homes and carriage houses are becoming an extremely popular and affordable way to provide new housing options in desirable neighbourhoods.

What are laneway homes?

Laneway homes are small detached houses on the back lane of an existing single-family property.

More than 1,000 laneway homes have been built in Vancouver since they were first approved in 2009.

 

Laneway homes are small detached rental houses  that are typically at the back of a property opening to a lane. They’re usually one and a half storeys with one or two bedrooms. Most of them also integrate a garage as regulations require they be built in the space normally occupied by a garage.

What are carriage houses?

Carriage houses, or coach houses, are also secondary dwellings on a property; but they can be strata titled and sold separately from the main house. Carriage houses in Vancouver also don’t have to be situated on a lane. They can be larger than laneway homes, as long as the combined floor space ratio of the carriage home and main home doesn’t exceed .75 of the entire property.

Why are laneway homes popular?

The first laneway home in Vancouver was completed in 2010, less than a year after the city adopted a bylaw allowing their construction in single-family zones, on lots at least 32.15 ft. wide. Since then there have been more than 1,000  construction permits issued.

In a community where property values are rising, space is limited and supply of rental housing is tight, laneway homes “contribute to the overall sustainability of the city,” says the City of Vancouver’s website. “They give people more opportunities to live close to where they work, shop, and play, and they make the city’s urban lanes more green, livable and safe.”

They can also help homeowners with the mortgage.

Typically laneway homes cost about $300,000 to build, including permits, sewer and water hookups, and can be rented out for $1,500-2,500 a month.

“Generating a second stream of income by investing in a laneway home is more affordable than applying for a secondary mortgage to purchase a condo,” says Kenny Wong of PHW Homes, a Burnaby builder that specializes in constructing laneway and custom homes.

Laneway homes are permitted to varying degrees in the City of North Vancouver, the District of North Vancouver, West Vancouver, Richmond, Coquitlam, Port Moody, Maple Ridge and Surrey. They’re not allowed in Burnaby.

New Westminster is currently considering the regulation and construction of laneway homes and other infill housing options. We’ll look at that process in the second part of this blog, later this week.

Removing trees on private property

Removing trees on private property can be a complicated, time-consuming and expensive process.

That’s because communities are becoming more conscious about protecting trees.

Trees don’t just look great or provide cooling shade on hot sunny days. They’re also the planet’s lungs. They create the oxygen we all need to breathe.

Most municipalities in Metro Vancouver have bylaws that govern removing trees on private property.

Removing trees on private property in New Westminster

When a tree survey by the City of New Westminster discovered the city had lost 15 per cent of its tree canopy since 2004, city council decided it needed to do something. So in January, 2016 it passed a new tree protection bylaw.

New Westminster realtor James Garbutts talks about bylaws and procedures you need to know for removing trees on private property.

New Westminster passed a bylaw in January, 2016 that governs removing trees on private property.

 

If you are removing trees on private property that are bigger than 20 cm in diameter measured 1.3 metres (or about chest-high) above the ground, you’re going to need a permit. To calculate the diameter of a tree, measure around its trunk, then divide by 3.14.

If the tree is on city property, you’ll need a permit.

If the tree has evidence of being a home to nesting birds, you’ll need a permit.

If it’s part of a hedge that is taller than five feet, you’ll need a permit.

The application to get a permit for removing trees on private property costs $75, and then you’ll pay $75 per tree for the first 10 trees and $150 per tree after that. If you need to chop down a forest, you better have a high limit on your credit card.

As part of your application for a permit, you’ll need to submit an arborist’s report, a site plan, a survey of the trees on the site along with a plan to protect remaining trees and replace those being removed.

The arborist’s report outlines the location, species, size, critical root zone, the current condition and potential risks of a protected tree. The report includes photos of the trees, the reasons for removing trees on private property, as well as comments on how the tree’s removal could impact neighbouring trees. It will also recommend ways to protect remaining trees on the site during any excavation, construction or demolition work.

If you are removing trees on private property, you may need an arborist's report.

An example of a portion of a typical arborist’s report.

 

When a permit is issued, it must be posted at the site, and be visible from the street. The permit is valid for six months.

If the permit requires replacement trees be planted, you’ll have to do that work within six months.

Removing trees on private property in Burnaby

Burnaby has had a bylaw protecting trees since 1996, but it was toughened up in 2014.

Burnaby’s tree protection bylaw applies to all public and private land in the city, at all times.

Burnaby realtor James Garbutt talks about bylaws and procedures you need to know about removing trees on private property.

Burnaby updated its bylaw for removing trees on private property in 2014.

 

If you’re developing a property in Burnaby, you’ll need a permit to remove any evergreen tree that is larger than 12 inches in diameter measured 1.4 metres above ground. Broadleaf trees require a permit if they’re bigger than 18 inches in diameter.

You’ll also need a permit for removing trees on private property if they’re near a ravine or creek, or if the trees were previously planted or retained as replacement trees, or if they were part of a previous architecture plan for the site.

If you are removing trees on private property, they will have to be replaced; one for one for 8-inch trees, two for one for 12-inch trees and three for one for 18-inch trees. You’re also going to have to pay an $800 security deposit to ensure replacement trees are planted and cared for properly. If it’s not feasible to plant replacement trees, a cash contribution can be made to the city’s Tree Replacement Fund.

A permit for removing trees on private property in Burnaby costs $70 per tree to a maximum of $500 if the property isn’t being developed. That goes up to $150 per tree to a maximum of $1,000 if the property is being developed.

If you are removing trees on private property in Burnaby without obtaining the proper permit, the fine can range from $500 to $10,000.

Removing trees on private property around Metro Vancouver

Coquitlam

Port Coquitlam

Port Moody

Vancouver

Surrey

Crazy 2015 Detached House Sales in Greater Vancouver!

“So far the 2015 market for Detached Homes has been incredibly crazy with tons of bidding wars which means record sale prices above list price. We thought we would share with you some of the highlight sales that have happened to date because simply put whatever is going on out there is nuts. if you are somewhat close to the city  Coquitlam or West you are running into bidding wars if you are buyer. If you are a seller you are very lucky to be enjoying this market. It’s a frustrating time for buyers but a great time for sellers right now.”

Below we will show some of the highlight sales that have happened in the short year to date.

“In Burnaby there was a house at 8675 12th St that was listed at $838,000 that sold in 5 days for $1.1 Million. $262,000 above the list price. The list price $838,000 was in line with recent sales prior to that. It was on a nice lot in good neighbourhood and sold for significantly above list price.”

“Out in New Westminster at 1924 London St listed at $829,000 sold for $985,000 in 5 days on market and subject free like most other record breaking sales.”

“Next in North Vancouver on 960 Beaumont Dr  in the Edgemont Village area was listed at $1.488 Million sold $1.689 Million $201,000 above list price in 3 days.”

“In the British Properties at 725 Eyremount, West Vancouver home listed at $4.198 Million sold for $5.880 Million in 4 days. Basically $900,000 above the list price. When talking about $5 million dollar homes it may not be so much for the sellers or buyers but that is a huge above list sale!”

“In Vancouver at 65 E 26th Ave listed at $1.598 Million sold for $2.165 Million sold in 11 days. Thats over $560,000 above the list price on a 31.25 frontage lot which is crazy that East Vancouver is now getting those prices.”

“But the winner for the craziest sale is a Shaughnesssy home at in the Vancouver West area at 1383 W 32nd Ave listed at $5.99 Million and sold for $8.010 Million in 12 days. That is $2 Million above list price and it takes the cake so far for this year!”

“It is unfortunate for buyers if you are trying to find a new home and staying in a hotel or renting short term. Who knows when this will lessen up but it is what it is right now which is crazy.”

“For sellers if you are on the fence about selling now is the time to get off the fence to and enjoy the rewards of the your detached house. Condos and Townhomes are strong as well but not as crazy as detached homes.”

“To give you some averages for homes in Coquitlam and west of Coquitlam in Greater Vancouver on average year to date days on market is 30 days but the median has been 9 days on market. Which tells you that most of the homes are selling fast, but a couple are lingering a little longer because there are still some duds out there. On average houses are selling for 100% of the list price. The range for 2015 so far is 131% to 56% of the list price… we aren’t sure what happened with that 56% of the list price sale but we are sure there was something wrong there.”

If you have any questions about selling your home or would like to know more about this crazy market feel free to contact us!

Contact

 

Do you first to hear about Market Stats, Real Estate news, and our newest listings? Sign up for our e-Newsletter below and we will keep you in the loop! You also are entered to win a $100 gift card!

[yks-mailchimp-list id=”918b801770″ submit_text=”Submit”]

Just Listed! Avant in Vancouver.

Modern waterfront homes overlooking Burrard Inlet with stunning North Shore views!

Vancouver living at it’s best with UNOBSTRUCTED VIEWS of Burrard Inlet, Mountains & New Brighton Park!  This outstanding 2 bedroom, 2.5 bathroom Townhome has 1,492sqft on 2 levels with a HUGE PRIVATE ROOFTOP PATIO! Unit features a spacious layout with an open concept kitchen/dining/living area, powder room, and a gorgeous brick feature wall in the living room.

2949 Wall St Vancouver Condo Townhome for Sale

2949 Wall St Vancouver Condo Townhome for Sale     2949 Wall St Vancouver Condo Townhome for Sale

Modern finishings throughout including Kohler fixtures, soft close cabinetry, white oak wire brushed hardwood flooring, and marble counters. Gourmet kitchen features high end gas range, granite counters, GE Monogram Series stainless steel appliances and lots of cupboard space.

2949 Wall St Vancouver Condo Townhome for Sale     2949 Wall St Vancouver Condo Townhome for Sale

Upstairs are the 2 spacious bedrooms with plush wall to wall carpeting, large windows for lots of light, and spectacular views. Upper floor also features 2 ensuite bathrooms, and access to the HUGE North-West facing private rooftop patio with lots of space for a patio set and bbq. Perfect for Summer entertaining and watching Christmas Carol ships.  The unit also includes 2 storage lockers and 3 parking spots.2949 Wall St Vancouver Condo Townhome for Sale

Built in 2012 by Aragon this building features Geothermal Heating & Cooling instead of conventional energy methods. This allows you to save your energy consumption by 70% and is environmentally sustainable. Geothermal heating and cooling systems transfer the warmth (or cold) from the ground below to the home or building above, providing a completely renewable, ecologically friendly source of home climate control.  The Earth itself is a natural heat source with year round temperatures of 55°F to 75°F just below the surface.

2949 Wall St Vancouver Condo Townhome for Sale           

Amazing Neighbourhood just minutes from beachfront New Brighton Park which has a soccer field, picnic sites, outdoor pool, concession stand, children’s playground, 4 tennis courts, and an off leash dog area.  Walking distance to Playland, The Coliseum, Hastings Racecourse, and PNE! Shops (Safeway, Shoppers Drug Mart, Starbucks, Hastings Liquor Store, Donalds Market, London Drugs etc…) just a quick 5 min drive, Schools (Hastings Elementary & Templeton Secondary) 5 & 10 min respectively, Hwy 1 on ramp 5 min, and only 15 min away from Downtown Vancouver!

2949 Wall St Neighbourhood

 

Click Here to view the full listing & floorplan
2949 Wall St Floorplan