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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

Meet Monica Harmse!

Meet Monica!

James Garbutt interviews our newest team member Monica Harmse. We’re excited for you to get to know her, watch the video below! And learn more about her here.

 

 

 

 

Burnaby’s Most Expensive Home Sold In May 2017

Property: 7505 Lambeth Drive

List Price: $3,198,000

Sale Price: Contact Us Today

Sold Date: May 8th, 2017

A stunning 5 bedroom, 6 bathroom home at 7505 Lambeth Drive fetched the highest sale price in Burnaby for May, 2017. Built in 1980, the beautifully maintained custom-built home in prestigious Buckingham Heights was sold by its original owner.

Situated on a private 15,000sqft corner lot, the 3 level home has 6,002sqft of living space and both city and mountain views from front and back balconies. The main floor features a tranquil garden patio and massive yard (with oversized double garage), as well as a large living room, formal dining room, bright, spacious kitchen and eating area, huge family room and bedroom/den. An indoor oasis completes the main floor with pool, hot tub and sauna. Upstairs, the huge master bedroom is rounded out by a walk-in closet and ensuite. With 3 more ample-sized bedrooms and 2 bathrooms up, this is the perfect family home.  

Buckingham Heights is a small, upscale family neighbourhood, walking distance from Deer Lake, Burnaby’s recreational and cultural hub and is also midway between two of Burnaby’s most vibrant commercial centres, Edmonds and Metrotown, that each offer a huge array of shopping and services, as well as two branches of the Burnaby Public Library.

7505 Lambeth Drive

The home boasts a bright and spacious kitchen made for entertaining.

7505 Lambeth Drive

A formal living room denotes old world elegance.

7505 Lambeth Street

The luxurious mater bedroom is complete with ensuite and fireplace.

7505 Lambeth Drive

The custom built home comes complete with an indoor pool, hot tub and sauna

New Westminster Housing Market Update May 2017

MARKET UPDATE BY NEW WESTMINSTER REALTOR JAMES GARBUTT

May is here and it’s time for another New Westminster housing market update.

It’s been a bit of a crazy year, it started off with a lot of snow, followed by a lot of rain, which delayed everything and affected the number of sales that have taken place. In fact, numbers are down considerably. The number of sales of detached homes in New Westminster to date is 62. At this time last year, that number was 186–that’s essentially a third of the number of sales compared to last year and about half the number of sales compared to 2015. Not surprising considering the weather and considering everything that’s happened lately, and, openly, there just hasn’t been a lot of product and a lot of overpriced listings have been sitting on the market.

The sales ratio is the sales-to-active listings ratio or the number of sales that take place in a given month divided by the number of active listings. The sales ratio for detached homes in New Westminster is 30% across the board. That means, that of ten listings, 3 of them sell in a given month. Anything north of 21% is considered a seller’s market, so the market still is strong. Isolating the ratio to focus mainly on a lower price point, say detached homes under $1.2 million, the sales ratio goes from 30% to 70%. That means the out of 10 listings, 7 of them are selling in a given month, and that is a very strong seller’s market. So there’s clear demand for the more affordable price points.

The average detached home sold this year is going for $1.125 million and the average high sales of the year is $2.3 million; but there were two sales north of $2.2 million, both in ‘Queens Park‘.

The REBGV has shown that prices for detached homes in New Westminster have gone up 8% from this time last year; but we’re finding that, for nice family layouts, in a good location, in good shape, in the more affordable price bracket, they’re up about 10%. The busy street homes, the ones that have the land value, are struggling a bit; they’re at par with April of last year or maybe even a little bit below.

Moving forward, I expect the market activity to increase quite a bit; I think sales are just starting to ramp up and that the summer is going to be a busy one. Talk about things such as coach homes for lots over 6000sqft has held back a lot of the inventory as owners wait to see what happens. But, the weather is getting better and the supply is low and the demand is high, so if you are a homeowner and you’re thinking of selling, now is the time to do so.

Full Real Estate Board of Greater Vancouver Stat Package for April 2017

If you’re thinking of buying, selling or just curious about the value of a property, contact us today!

Contact Us Today

James Garbutt
Greater Vancouver Realtor

New Westminster Condo Market Update for May 2017

MARKET UPDATE BY NEW WESTMINSTER REALTOR JAMES GARBUTT

May is here and it’s time for a condo market update for New Westminster.

It’s been a bit of a crazy year; we’ve had some insane weather and condos have been smoking hot. That’s your update—they’re hot!

Overall, the sales for the year are down a little bit from last year, but not significantly. We’ve had 357 sales to date, compared to the same period last year which was 418, and in 330 in 2015.

So even though there’ s been a little bit of a decrease, we’re up from 2015. The sales ratio for these condos, however, is up considerably. The sales ratio is the sales-to-active listings ratio or the number of sales that take place in a given month divided by the number of active listings. A seller’s market is considered to have a sales ratio of 21% or higher. Across the board, the New Westminster condo sales ratio is 76%–a smoking hot seller’s market. That means that out of 10 active listings, 7.6 of them will sell in a given month.

If we isolate the sales ratio to the hottest product right now–entry level one bedroom condos built after 2000–the sales ratio is 183%! Which is ridiculous. It basically means that is you have a newer one bedroom condo to sell, it will sell immediately. And we’ve been experiencing that. Keep in mind that that’s 183% sales ratio when a seller’s market is considered anything north of 21%.

What are prices doing? Well, prices are up. The REBGV says that prices are up 20% compared to this time last year. We’ve had cases where the prices have been up 30%+. We recently listed four New Westminster condos that received 20 offers combined averaging $43,000 above their list prices. So, if you’re a condo owner and you’re looking to sell, it’s a great time to do so; but figure out where you’re going, because if you’re buying another condo, it may be frustrating.

Essentially, everything in the strata seems to be quite active right now in New Westminster. The market is as good and as strong as we’ve ever seen.

On the buy side, expect frustration, expect competing offers and expect to pay more than the last sale. Things may slow down in the fall, but there’s nothing telling us that right now. At the moment, it is a seller’s market and New Westminster condos are hot.

Full Real Estate Board of Greater Vancouver Stat Package for April 2017

If you’re thinking of buying, selling or just curious about the value of a property, contact us today!

Contact Us Today

James Garbutt
Local New Westminster Realtor

Greater Vancouver Housing Market Update May 2017

MARKET UPDATE BY GREATER VANCOUVER REALTOR JAMES GARBUTT

May is here and it’s time for a Greater Vancouver housing market update.

It’s been a bit of a crazy year, and between the snow and the rain, the weather has been awful and it’s held back the sales a little bit; the number of sales are down considerably compared to 2016. As of April 26, 2017, in Vancouver the number of sales of detached home is 701. Now compared to the same period of time last year, it was 1473–just under half the number of sales.

In Burnaby, we see the biggest effect: 267 compared to 1400 last year. In the Tri-Cities, 469 compared to 1098 sales. Overall, the trend is that the number of sales is down considerably and, in most cases, less than half of what they were last year. Mind you, last year was insane and this year we’ve seen some legitimately awful weather.

In terms of prices, let’s look at the sales ratio. To get a good indication of how the market doing, we like to look at the sales ratio. The sales ratio is the sales-to-active listings ratio or the number of sales that take place in a given month divided by the number of active listings. A seller’s market is considered to have a sales ratio of 21% or higher.

In the last 60 days, the sales ratio for detached homes in Vancouver is 15%; that means that of 10 active listings, 1.5 of them are selling in a given month. That’s a low figure, but when you isolate listings at $1.5 million or less, that figure goes from 15% to 38%–a strong seller’s market. When you isolate that figure from $3 million plus it goes from 15% to 9%. So the high end is really what’s dragging down the sales ratio.

And similar stats are in Burnaby, where the sales ratio is 21%, but under $1.5 million, it’s 53%, and at $2 million, it’s 9%. So the high end market is what’s struggling right now, but the entry points are quite active—they’re hot.

Some fun sales of the year:

The highest sale to date was on Point Grey Road and it sold for $17.6 million, this is from the REBGV stats. In the Tri-Cities, the highest sale was $3.4 and it was ‘Anmore‘, which is, in my opinion, one of Vancouver’s best kept secrets.

In conclusion, the weather has held the market back. I expect these sales numbers to improve in the coming months, more so in the seller’s favour. The weather’s going to get better, a lot of homes will be coming on the market and I think it’s going to be a very active time. However, a lot of people are overpricing their homes–$2.5 million homes are being priced at $3 million, or $2 million dollar homes at $2.5 million, and that is proving not to work right now. You could get away with it last year, because the market would climb until it reached that point, but this year, it’s not. We’re seeing price points similar to last year in most areas and we’re seeing prices 20% above last year’s prices. So, there’s a big gap between list price and sale price and that’s holding back the sales ratios in a lot of these places.

If you’d like my opinion, if you’re selling a higher end product:

1. Don’t list it if you’re not serious about selling.

2. Price it properly.

On the buy side, I think it’s a great time to buy higher end product, but I just don’t think the seller’s are willing to come down to your price points yet. On the sell side, now is the sweet spot to sell detached homes. May, June, July, are active months, so take advantage.

Full Real Estate Board of Greater Vancouver Stat Package for April 2017

If you’re thinking of buying, selling or just curious about the value of a property, contact us today!

Contact Us Today

James Garbutt
Greater Vancouver Realtor

CLICK HERE FOR YOUR MAY 2017 GREATER VANCOUVER CONDO MARKET UPDATE

Pacifico Townhomes Are Close to Nature, Connected to the City

Project: Pacifico
Builder: Dolomiti Homes
Units: 21

Pacifico Townhomes are close to nature, but connected to the city.

The 21-unit development by Dolomiti Homes is tucked at the foot of Burnaby Mountain in the Westridge neighbourhood. That puts the kilometres of hiking and biking trails that encircle the Burnaby Mountain Conservation Area almost in your backyard, Barnet Marine Park with its splendid beach and iconic West Coast views out the side door.

But the setting is anything but remote. In fact, Barnet Highway and Hastings Street, which provide quick road connections west to Vancouver and east toward Coquitlam, are just a couple blocks away. Shopping and services at Kensington Square and the beloved Heights district are also nearby.

The homes at Pacifico include 1 bedroom garden apartments and 2 bedroom 2-level townhomes.

Each features designer laminate flooring in the living areas and durable carpeting in the bedrooms of the townhomes. The open gourmet kitchens feature quartz countertops, stainless steel Whirlpool appliances, custom cabinets and soft-closing drawers. The bathrooms are equally indulgent with mirrors as wide as the quartz countertops, a cosmetic light bar, colour-coordinated porcelain tile flooring and Kohler fixtures.

All units are pre-wired for a security system and come with a year of free internet and OPTIK TV Essentials from Telus.

Units in Pacifico are still available for pre-sale. For more information contact Burnaby real estate agents James Garbutt and Denny Dumas.

Pacifico townhomes in Burnaby

Open concept kitchen and dining area.

Bedroom at Pacifico

Luxurious bedroom

Pacifico townhomes

A rendering of Pacifico’s exterior

 

Burnaby’s Most Expensive Condo For Sale!

Property: #2602 5051 Imperial St
List Price: $1,955,900
Sold Price: TBA
Sold Date: TBA

A 1,541 sq. ft. wrap-around rooftop deck that’s almost as large as the indoor living space is one of the stunning features at Burnaby’s most expensive condo currently on the market. The 3 bedroom + den penthouse is at the top of the Imperial development by Amacon, currently under construction in the Metrotown neighbourhood.

The unit is one of only two penthouse suites at the Imperial that is comprised of 169 units inspired by the elegance of a fine boutique hotel. That attention to luxury and comfort is reflected in the fine finishings that include central air conditioning, nine-foot ceilings, a gourmet kitchen equipped with soft-close drawers and top-end appliances like a convection wall oven.

Each of the bedrooms in the 1,834 sq. ft. unit has its own ensuite, and there’s also a powder room for visitors. It comes with two parking stalls and a storage locker.

Amenities at the Imperial include a guest suite, games room, music room and meeting room as well as a grand entrance lobby with hotel-style concierge service. Residents will also have access to an electric BMWi3 and a bike share program.

The latter may be especially useful as the Imperial is located near the BC Parkway bike route that connects New Westminster to Vancouver along the Expo SkyTrain line. The Bonsor recreation centre, with a pool, fitness facilities and activity rooms is nearby, as is the massive Metropolis at Metrotown shopping complex.

Click here to see the listing

For more information, contact Burnaby Realtors James Garbutt and Denny Dumas

#2602 5051 Imperial St

Kitchen features luxurious cabinetry and high-end European appliances

#2602 5051 Imperial St

The elegant lobby also has concierge service.

#2602 5051 Imperial St

The Imperial is currently under construction.

 

Gold House Sets a New Standard for Condo Living in Metrotown

Project: Gold House
Developer: Rize Alliance

Gold is about to glitter in Burnaby’s Metrotown neighbourhood. Gold House that is.

Gold House is a stunning new development by Rize Alliance that will set a bold standard for architecture and luxury in the city. In fact, the project is so remarkable, the two towers have already sold out, but penthouse suites are still available.

Designed by the renowned architects at Chris Dikeakos, the two towers that comprise Gold House feature gold accents, expansive windows and generous patios that will make a glittering addition to Burnaby’s burgeoning skyline.

The bold exterior design is matched by lavish interiors that include Bosch appliances in the kitchens, custom Italian Armony Cucine cabinets and spa bathrooms with polished quartz and marble counters. Each unit is also air conditioned. That luxury is kicked up a notch in the penthouse homes with over-height ceilings, exclusive interiors designed by Hirsch Bedner Associates, and huge patios up to 1,230 sq. ft.

Amenities include a furnished outdoor terrace, fully-equipped fitness centre, yoga studio, social lounges and sound-insulated music rooms in each tower.

The development is perfectly located, across from the hundreds of shops, restaurants and services at Metropolis at Metrotown and Station Square as well as the main branch of the Burnaby Public Library, a short stroll from the Metrotown SkyTrain station and handy to beautiful Central Park.

Click here to visit the Gold House website

Gold House in Burnaby

The distinctive architecture of Gold House extends to street level

Gold House in Burnaby

Soaring penthouse suites are still available.

Gold House in Burnaby

Stylish interiors

 

Burnaby’s Most Expensive Home Sold in March 2017

Property: 6258 Empress Ave
List Price: $3,468,000
Sale Price: TBA
Sold Date: March 3, 2017

A 7-bedroom, 8-bathroom home at 6258 Empress Ave is Burnaby’s most expensive house sold in March, 2017. It comes with spectacular views of the mountains and city. Too bad the weather has been so dreary.

But when the clouds finally do lift, the new owners of this 4,737 sq. ft. beauty will be able to fully appreciate its gorgeous setting in the Upper Deer Lake neighbourhood from its three outdoor patios. Everything about this home is top-quality, with attention paid to even the finest detail, including professional Feng-Shui landscaping of the 9,174 sq. ft. lot. The gourmet kitchen is equipped with high-end cabinetry and Miele appliances. There’s also a wok kitchen.

The open-concept main floor flows seamlessly from family room to dining room to expansive living room. The large master bedroom upstairs has its own balcony. Three other bedrooms are also located upstairs, one is on the main floor and two are in the fully finished basement, which also includes a 16X12 media room.

The home is also fully automated to control lighting, temperature, security and music with the touch of a command button.

6258 Empress Ave

The master bedroom has its own balcony.

6258 Empress Ave

When the clouds lift, the mountain views are spectacular.

6258 Empress Ave

This is the most expensive home sold in Burnaby in March, 2017.

 

Brentwood Park Condos Sales Averaged $750/SF Last Week

Burnaby condos and townhomes are hot. Brentwood Park condos are on fire!

In fact, all five Brentwood Park condos sold last week went for above list, at an average price of $750 sq. ft. Four of the units are 2 bedroom, 2 bathroom condos. The other is a dramatic two-level loft townhome in the Tandem development that looks out over a greenbelt.

The 1-bedroom townhome, at #8 4178 Dawson St, features soaring 16-foot ceilings, an open kitchen and a large master bedroom on the second level. The building is across from the Gilmore SkyTrain station and a short walk to the booming urban centre that is transforming the Brentwood Town Centre. When the $1.3 billion project by Shape Properties is completed, the 28-acre site will include more than 250 shops, restaurant and entertainment venues like art galleries and a VIP theatre complex, as well as soaring residential towers designed by master-plan architect James Cheng. And all of it is directly connected to the Brentwood SkyTrain station for quick trips into Vancouver along the Millennium Line.

The excitement for that project has spread throughout the Brentwood Park neighbourhood. Eventually it could be home to 40,000 new residents over the next 30 years. So it’s little wonder buyers are eager to get in early.

For more information contact James Garbutt and Denny Dumas, Realtors in Burnaby who specialize in Burnaby condos.

The five Brentwood Park condos that sold last week:

Property: #8 4178 Dawson St
List Price: $449,000

Property: #1604 4118 Dawson St
List Price: $599,900

Property: #2604 2232 Douglas Rd
List Price: $778,000

Property: #1204 2355 Madison Ave
List Price: $599,000

Property: #501 2355 Madison Ave
List Price: $598,000

Brentwood Park condos are hot

The Brentwood Park neighbourhood is being transformed by new development.

Brentwood Park condos are hot

The area is afire because of the transformation of Brentwood Town Centre.

Brentwood Park condos are hot

Open air plaza at the Amazing Brentwood.

Bosa’s Verdi Composes a Harmonious Mix of Style and Tradition

Project: Verdi at 3959 Hastings St
Builder: Bosa’s Aquila Development
Units: 42

 

You don’t have to be a composer of popular operas to own a condo in Aquila Development’s Verdi in Burnaby’s popular Heights neighbourhood. But you’ll still be able to enjoy the same sense of style and respect for tradition that made the project’s namesake, Giuseppe Verdi, a composer of some of Italy’s most popular operas, like Rigoletto and La traviata.

Verdi is a 42-unit project that is currently in reconstruction at 3959 Hastings St. Prices for available units range from $504,900 for a 770 sq. ft. 1-bedroom suite to $879,900 for 1313 sq. ft. 3-bedroom plus den.

The 4-storey building’s architecture is a blend of contemporary West-Coast style built with Old-World quality. Expansive windows, generous overhangs and large balconies and terraces invite outdoor living. It’s rooftop features a patio with a gas barbecue, seating and community gardens.

That commitment to style and quality carries on inside each unit with interior design by Cristina Oberti, whose portfolio includes luxury projects throughout Greater Vancouver, Calgary and San Diego. Floors in the kitchen and living/dining area are wide-plank laminate. The kitchen’s quartz countertops are matched with a quartz backsplash. Appliances are by Bosch, Whirlpool and Fisher & Paykel. Most bathrooms feature dual vanities with quartz countertops and backsplash. And every unit is pre-wired for high-speed internet and digital cable.

And just in case you are an opera lover, double party walls, lightweight concrete topping at each floor and insulated floor joists will limit sound transfer between homes.

Click here to learn more about Verdi

Verdi at 3959 Hastings St

Open concept style and quality at Verdi

Sold! Stylish 1 Bedroom Condo With a View!

Property: 1705 4400 Buchanan St
List Price: $579,000

A 1 bedroom + den Burnaby condo at 1705 4400 Buchanan St with plenty of style and a view to match was attracting plenty of interest when Burnaby Realtors James Garbutt and Denny Dumas presented a successful offer on behalf of their buyer.

The 821 sq. ft. unit is in Appia’s Motif development in the Brentwood Park neighbourhood of North Burnaby. It features granite countertops, stainless steel appliances, wide plank laminate flooring and sweeping views of Vancouver and the Metrotown skyline from its large balcony.

Motif is located close to SkyTrain and the Brentwood Town Centre is just a quick walk away. That area is in the early stages of a massive transformation into a major urban hub with new condo towers, a redeveloped shopping mall, outdoor plazas, open-air cafés and galleries. A new Whole Foods Market just opened.

1705 4400 Buchanan St

The kitchen features granite countertops and stainless steel appliances.

1705 4400 Buchanan St

The large balcony with views of Metrotown.

1705 4400 Buchanan St

The Motif development features a fully-equipped fitness centre.