Wednesday, January 11, 2012 VANCOUVER REAL ESTATE MARKET UPDATE JANUARY 2012by Rob Zwick on Wed, Jan, 11, 2012 03:54 PM
*|MC:SUBJECT|* | Market UpdateJanuary 2012 Happy New Year! I hope you have all recovered from the holiday season and are back into the swing of things to start 2012 off on the right foot. The December stats showed the expected dips in sales volume and new listings we would expect for this time of year and the numbers were consistent across the board. So, rather than looking back this month, let's look forward to what we can expect in the coming year: (1) Look for a strong start to the year. There are a lot of eager buyers out there looking for good product and inventory levels have disappointed many of them the past few months. They are ready to buy if they can find what they are looking for. (2) Listing inventory will climb. And it's about time. Those eager buyers from the previous point should finally have some options to choose from come February. (3) Mortgage rates remain low. Likely right through to the end of the year and possibly beyond. (4) The chaos in the global markets will not have a huge impact in Vancouver... yet. I would bet that we make it through the first half of the year unscathed. I will have to re-evaulate as we move forward before making any predictions beyond that point. (5) 2012 will be a great year. Make it so! Rob Unique Homes Blog Carpinteria Foothills Residence by Neumann Mendro AndrulaitisThis contemporary residence is designed to seamlessly open unto the panoramic coastal ridge-top site via expansive operable glazed walls. The glazed transparency is balanced and the home is anchored in place by substantial cut native sandstone walls. The architectural design evolved from our client’s desire for a home that is a tranquil place for living, art and retreat...  Read more >> |
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| Featured Listings 1088 Richards- Offered at $479,000
- 1 Bedroom + Den + Solarium, 1 Bathroom
- 745 sq ft
- HST incl. brand new condo, S/S appl & granite counters
More Details See All Listings |
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... Tuesday, December 6, 2011 VANCOUVER REAL ESTATE MARKET UPDATE DECEMBER 2011by Rob Zwick on Tue, Dec, 6, 2011 04:52 PM *|MC:SUBJECT|* | Market UpdateDecember 2011 The holiday season is upon us and the Vancouver real estate market is starting its seasonal slow down. As I'm sure you are all busy putting up Christmas decorations, shopping and attending/recovering from parties, I'll keep it short this month and get straight to the numbers. Active listings are down across the board, in most cases more than 10%, as most potential Sellers are now waiting until the new year to put their home on the market. Look for this number to dip even further in December before beginning a steady climb to start the year. Not surprisingly, sales activity also dipped in all markets, with the exception of downtown (up 5.9%). Median pricing was all over the map. Vancouver West saw prices hold relatively flat while Vancouver East saw dips in both the attached and detached markets. Despite the busier sales numbers, downtown actually showed the biggest price drop at almost 10%. North Vancouver showed a surprising bounce back in prices across the board. What lies ahead? Look for December and January to be predictably slow, both with active listings and sales, while prices sit fairly flat. The big boost to inventory will hit come February and that is when we will see how the Buyer demand matches up and impacts affordability. If the market follows typical seasonal trends and Buyers are out in full force, look for prices to stay flat through the first half of the year. Should demand not live up to expectations, we may see a slight dip in prices across the board.Have a safe and happy holiday season! Rob Unique Homes Blog Washington Park Residence by Sullivan Conard Architects This Washington Park Residence sits on a bluff overlooking Lake Washington with views of the Eastside and Cascades beyond. The house takes advantage of the site by contrasting mass and transparency to capture broad, unobstructed views while preserving privacy...  Read more >> |
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| Featured Listings | |  456 Moberly Rd.- SOLD! Offered at $399,900
- 1 Bedroom, 1 Bathroom
- 681 sq ft
- Rainscreened, Concrete condo on False Creek
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... Monday, November 7, 2011 VANCOUVER REAL ESTATE MARKET UPDATE NOVEMBER 2011by Rob Zwick on Mon, Nov, 7, 2011 06:11 PM *|MC:SUBJECT|* | Market UpdateNovember 2011 After a somewhat surprising September, one that showed decreased sales rather than the typical upswing of activity, we were very curious to see what would the market would do in October. As it turns out, it completely depends on the neighbourhood. Last month's statistics show a large segmentation developing between individual markets and the 'overall picture' does not give a very clear sense of what is happening in each sub-section of the market place. Let me explain... Starting with detached houses: - The Vancouver East market showed a substantial drop in sales (-24.3%), a slight drop in active listings (-5.4%) and a minor slip in median pricing (-2.7%)
- The Vancouver West market displayed a healthy boost in sales activity (+16.9%), a negligible slip in inventory (-0.9%) and an increase in median pricing (+4.4%)
- The North Vancouver market noted a noticeable increase in sales (+12.7%), a small dip in listings (-6.1%) and marginal price drop (-1.9%)
In the condo/townhome markets: - Downtown Vancouver was marked by a healthy increase in activity (+10.1%) and pricing (+3.6%), with an insignificant drop in inventory (-1.2%)
- In the Westside, median prices rose (+7.0) while both active listings (-4.0%) and sales activity (-2.6%) trended downwards
- The Eastside showed an rise in sales activity (+10.7%) and median price (+3.9%) while inventory dropped (-3.9%)
- North Vancouver experienced a huge lift in sales activity (+42.6%), thanks in part to significant price drops (-15.4%), while inventory remained flat (-0.9%)
So what can we take from all this? In general, with the obvious exception of the Eastside detached market, sales activity is up substantially. This is the trend we expected to see in September and it finally materialized. Another interesting trend is that inventory levels seem to be slipping. Not by a lot, but if that downward trend continues, it would certainly help keep prices up. And speaking of prices... there is not really a consistent trend to attach on to. Price variance is very specific to the individual market at the moment and extra care should be taken to ensure that you are really aware of what is happening directly in the market you are focused on. The broad statistics of Vancouver as a whole just don't tell an accurate story anymore.
Rob
Unique Homes Blog Cortez Island Unique HomeLocated at the south end of Desolation Sound on Cortes Island, British Columbia, the site is formed of natural granite bedrock. The site contains a dramatic peninsula and cliff which serve as a windbreak for Cortes Bay and the Seattle and Vancouver yacht clubs. The sea front side of the house is elevated up off of the bedrock with steel columns and exposed wood floor beams...  Read more >>
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| Featured Listings | #514 1088 Richards St.- FOR SALE Offered at $479,000
- 1 Bedroom, 1 Bathroom
- 745 sq ft
- Brand New unit in Richards Living
More Details See All Listings |
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... Tuesday, October 4, 2011 VANCOUVER REAL ESTATE MARKET UPDATE NEWSLETTER OCTOBER 2011by Rob Zwick on Tue, Oct, 4, 2011 12:30 PM Categories: VANCOUVER MARKET UPDATE, vancouver newsletter, vancouver real estate market update, vancouver real estate news, vancouver real estate newsletter, Vancouver real estate statistics, vancouver real estate update, vancouver renovation, vancouver special, vancouver special blog, vancouver special exterior, vancouver special renovation*|MC:SUBJECT|*
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Market Update
October 2011
I have been eagerly awaiting this month's statistics to see what sort of bounce back, if any, we would see after the slower Summer season. The answer, somewhat surprisingly, is that the we didn't seen any bounce back in sales activity at all - in any of the neighbourhoods we look at. The degree of sales drop varies quite a bit, with more than 30% drops in sales activity in the Downtown, Vancouver Westside attached and detached, and North Vancouver attached markets compared to just 6.7% in the Vancouver East attached market and 16.6% in the Vancouver East detached market. Interestingly enough, this decreased sales activity has not really impacted sales prices as both the average and median prices in most markets held relatively stable. We have also not seen a dramatic spike in listing inventories. Should listing inventory start to rise in October, we may be looking at some minor slips on the pricing side. It is my belief, however, that the commitment to hold interest rates until 2013, in conjunction with positive employment and immigration numbers, should keep prices steady through to next year. One market to keep an eye on is the Vancouver Westside detached market. It is the one market that showed a large increase in active listings (up 22%) as well as a large drop off in sales activity (down 33%) and median sale price (down 6.3%). As a market that has experienced tremendous gains in median pricing over the past year, it seems the table may finally see an adjustment. I would speculate that the rapid rise in listings is stemming from those 'testing' the market as they see their neighbours sell far above what market conditions would have allowed for last year. As prices slip, we may see many of these listings simply get pulled off the market. If not, look for further drops here. Rob
Vancouver Special Blog
Rain Screening
Now that we've finished with the installation of the Tyvek (waterproofing) and strapping, we were ready to start with the siding. There are a number of different types of metal siding to go with, but which one would look best? In this case, we decided to go with a wider offset, just to make sure that the front didn't look too busy....
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Featured Listings
604 E 13th Ave
- FOR SALE Offered at $599,000
- 2 Bedrooms, 2 Bathroom
- 1,123 sq ft
- Top Level Townhouse in a 3 floor Triplex
More Details See All Listings
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206 518 Beatty St.
- FOR SALE Offered at $3,95,000
- 0 Bedrooms, 1 Bathroom
- 680 sq ft
- Fully Renovated Studio on the Beatty Block!
More Details See All Listings
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1607 1088 Richards St.
- SOLD! IN 3 DAYS! Offered at $519,000
- 1 Bedroom & Den, 1 Bathroom
- 710 sq ft
- Brand New unit in Richards Living
More Details See All Listings
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... Wednesday, August 10, 2011 VANCOUVER REAL ESTATE MARKET UPDATE NEWSLETTER AUGUST 2011by Rob Zwick on Wed, Aug, 10, 2011 01:02 PM Categories: vancouver homes stats, vancouver house statistics, vancouver housing market, VANCOUVER MARKET UPDATE, vancouver newsletter, vancouver real estate information, vancouver real estate market update, vancouver real estate news, vancouver real estate newsletter, Vancouver real estate statistics, vancouver real estate update, vancouver update | Market UpdateAugust 2011 As the dog days of summer, along with some long overdue sunshine, kick into full gear, let's take a look at the July numbers. As would be expected going into the Summer months, sales activity has dropped substantially with declines from 14% to a whopping 50%. Detached homes in Vancouver Westside and North Vancouver, as well as North Vancouver condos were the hardest hit here. We are also seeing active listings creep up slightly, but nothing more than a few percent in any area. Prices mostly slipped across the board, with two notable exceptions: Detached homes in Vancouver Westside fell 10%, which would appear to be a natural correction after a ridiculous run of rising prices, while the average price Downtown surprisingly climbed by 19%. This is mainly attributable to a few ultra high-end sales and, when digging deeper, the median price Downtown actually dipped last month. Looking into August, don't expect much to change. The real question remains what happens in September. This is a month where we typically see an upswing in activity, but it will be curious to see how all this bad press regarding the international markets plays out. I suspect we will remain relatively stable through the end of the year, but I will re-evaluate that statement as things unfold. Enjoy the rest of Summer! Rob Unique Homes BlogThis house was designed for comfortable everyday living with a focus on sustanability. While simple in form the exterior utilizes a variety of low maintainence materials. The interior is organized around a large open entertaining area, which includes the kitchen, dinning room, and living room...  Read more >>
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| Featured Listings 2855 W 49th Ave- FOR SALE Offered at $2,499,900
- 4 Bedrooms + Den, 3 Bathroom
- 3,501 sq ft on 80 X 136 ft lot
- Newly Renovated
More Details See All Listings |
| |  #2306 128 W. Cordova St.- SOLD! Offered at $1,345,288
- 2 Bedrooms, 3 Bathrooms
- 1,900 sq ft
- 2 Level skyhome in Woodwards, 23rd-25th floor
More Details See All Listings |
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... Wednesday, July 13, 2011 VANCOUVER REAL ESTATE MARKET UPDATE NEWSLETTER JULY 2011by Rob Zwick on Wed, Jul, 13, 2011 12:45 PM | Market UpdateJuly 2011 With the summer market in full swing, it appears we are still waiting for the summer weather to catch up. As expected, it is much more of the same this month compared to last. Sales are down across the board, with the exception of the North Vancouver attached market which appears to be bucking the trend. Expect that to correct next month. Average sale prices and active listings are fluctuating across the board, but prices in most markets slipped slightly without enough dip to cause alarm. Everything we are seeing is typical for the seasonal nature of the Vancouver market and I expect to see a continuation of these trends for the next two months before an upturn in September. Looking at the bigger picture, predicting the local market is beginning to require more and more knowledge of international financial markets. Using local trends to predict the market has quickly become a fool's game and many more factors must be taken in to account. We will have to keep an eye on foreign markets in the coming months, as they will likely play a larger role in the Vancouver market moving forward than rising mortgage rates will. Any questions, ask away. And enjoy the summer! Rob Unique Homes BlogPlastolux has gathered 20 modern kitchens from their past blog post.They posed an interesting question, "Let me ask you this, what one element of a kitchen from the flooring to the cabinets or even the appliances can make or break a modern kitchen for you?" - What do you think?  Read more >>
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| Featured Listings 2855 W 49th Ave- FOR SALE Offered at $2,499,900
- 4 Bedrooms + Den, 3 Bathroom
- 3,501 sq ft on 80 X 136 ft lot
- Newly Renovated
More Details See All Listings |
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... Saturday, April 9, 2011 Vancouver Real Estate Market Update Newsletter April 2011by Rob Zwick on Sat, Apr, 9, 2011 03:40 PM
| Market UpdateApril 2011 Spring is here! Or maybe it's not... Depends on the day, but when the sun it out, it sure feels like it is close! Hopefully you are dusting off the patio furniture and planning some long weekend getaways as the calendar hits April. March was an interesting month in the Vancouver market, as we saw changes in mortgage rules mid-month that reduced the maximum mortgage amortization period from 35 years to 30 years and requires investors to put a minimum of 20% down on purchases. These changes created a big push early in the month to get deals done before the new rules took effect and caused things to slow down towards the end of March. It will be interesting to see if things pick right back up in April, as it is typically a busy buying season, or market activity remains relatively flat. Compared to February, March continued to show increases in new listings and sales activity across the board. Sale prices also creeped upwards in most areas, with the exception of the inflated Vancouver Westside detached market and the slightly cooling North Van detached market. I suspect both areas will level off this month after the correction. At this point, it appears that the relatively stable market that we have enjoyed all year will continue into the Summer. Rob Vancouver Special Renovation BlogWe're finally coming down the home stretch with this reno. The solid bamboo floors were totally different from what we ordered, but they still worked with the space, so we went ahead with them anyways. I really wanted to do what we could to dampen the noise for our tenants downstairs, so we installed high density rubber padding underneath the hardwood, then nailed through everything at once. In the bathrooms, we installed NuHeat heated floors, and some really nice striated porcelain tile. Thank god we went with NuHeat, our master is over part of the garage, and it is ice cold when the floor is turned off. One thing that I will do differently next time, is to pay more attention to the bathroom fixtures and cabinets that we go with. Read more See all Blog Posts |
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... Wednesday, December 1, 2010 December 2010 Market Update Newsletterby Rob Zwick on Wed, Dec, 1, 2010 02:36 PM
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Well, it's official. The holiday season is upon us. I'm not sure about you, but activity around our office seemed to screech to a halt as soon as December hit. With festive plans filling social calendars all around, 'tis the season to be distracted! I would like to take this chance to wish all of you a very merry holiday season and hope that you find some time to kick back and enjoy a well deserved break.
Taking a look at the real estate stats this month, the predominant theme is one of falling inventory. All of the attached markets (Downtown, Westside & Eastside) and detached markets (Westside and Eastside) displayed lower active listings in November with most markets showing their 3rd or 4th consecutive month of decline. At any other time of the year this statistic might be alarming, but given the traditional winter slowdown much of the declining inventory was to be expected.
November showed slightly improved sales volumes, up 7.4% in Greater Vancouver, compared to October 2010. Sales volume did remain behind last year's at 18.6% lower than November 2009. Average house prices in Greater Vancouver, according to the Housing Price Index, are up 4.1% since November last year. Breaking it down further, detached homes on the both the Westside and Eastside showed growth this month, while all of the attached markets saw prices fall. This is primarily due to the lack of inventory and huge demand present in the detached market at the moment. I suspect that both the attached and detached markets will level off to end the year.
Overall, I think it is pretty safe to say that we are enjoying the longest stretch of balance the Vancouver market has seen in years. Homes that are priced well are selling and buyers have the opportunity to explore their options before purchasing. Let's hope it lasts a little while longer!
Happy holidays and make it a fabulous end to 2010,
Rob
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Read more Top Of Page MODERN HOUSE - THE CROCKETT RESIDENCE FROM PB ELEMENTAL ARCHITECTURE |
Pb Elemental Architecture is one of my favorite Architecture firms, maybe it’s because they are in my home state but mostly their projects are just killer. Most of you have probably seen the Crockett Residence. It is one of my favorites due to it being the size and type of home I would need. Kudos to the interior designers/owners they did a great job on the inside. More after the jump. Read more See more unique homes Top Of Page |
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