NEW GENERATION OF HOMEBUYERS
HOPEFUL HOMEOWNERS STAY IN THE NEST
More young Vancouverites are buying real estate, but they’re not exactly becoming homeowners – at least not in the traditional sense.
A local mortgage expert says many 20-somethings are now finding a way around the city’s sky-high housing costs by buying investment properties and renting them out – all while still living at home.
“(My parents) would much rather me stay at home and save than to not have anything to show for the rent I was paying,” said Angela Calla, host of CKNW’s The Mortgage Show.
The 29-year-old started saving aggressively in her mid-teens and by 20, was able to purchase her first piece of property. From then through 26, she bought a new property each year while still living at home.
#2804 838 W HASTINGS STREET – THE JEMESON HOUSE BUILDING – VANCOUVER CONDO
$569,800
#2804 838 W HASTINGS STREET VANCOUVER WEST V6C 0A6
MLS® ID V932065
#230 2008 PINE STREET – THE MANTRA BUILDING – VANCOUVER CONDO
$537,000
#230 2008 PINE STREET VANCOUVER WEST V6J 0B8
MLS® ID V934932
#1901 833 SEYMOUR STREET – THE CAPITAL RESIDENCES BUILDING – VANCOUVER CONDO
$428,000
#1901 833 SEYMOUR STREET VANCOUVER WEST V6N 0G4
MLS® ID V939131
MADDOX DOWNTOWN – BY CRESSEY DEVELOPMENTS – VANCOUVER NEW DEVELOPMENT AND PRESALE
MADDOX DOWNTOWN – 725 ROLSTON CRESCENT – VANCOUVER V8V 3V4
“AT MADDOX OUR DESIRE IS TO DESIGN AND BUILD AN ARCHITECTURAL LANDMAREK TAHT IS DRIVEN BY A CLEAR FOCUS. WE ARE DETERMINED TO BRING TOGETHER THE ELEMENTS OF PLACE, FORM AND TRUST TO ACKNOWLEDGE WHAT’S MOST IMPORTANT TO YOU”.
THE MADDOX FLOORPLANS
Plan A - 1 Bedroom 578 sf
Plan A1 - 1 Bed + Den 626 sf
Plan B - 2 Bedroom/2 Bath 844 sf
Plan B1 - 2 Bed+Den/2 Bath 978 sf
Plan D - 1 Bed+Den/1 Bath 633 sf
Plan D1 - 1 Bed+ Den/1 Bath 739 sf
Plan G – 1 Bed/1 Bath 535 sf
Plan J - Maddox Platinum Collection - 2 Bed+Den/2 Bath 1,156 sf
Plan M - Maddox Platinum Collection - 2 Bed/2 Bath 1,080 sf
Plan Q - Maddox Platinum Collection - 2 Beds/2 Baths + Den 1,144 sf
AT THE GATES OF RAPID TRANSIT – MARINE GATEWAY PROJECT
DEVELOPMENT’S EASY ACCESS TO THE CANADA LINE IS A MAJOR SELLING POINT FOR THE PROJECT
Bob Rennie and Tracie MacTavish – respectively, principal and president of Rennie Marketing Systems – have been spending a lot of time in recent weeks focusing on how to best address the intense demand for the Marine Gateway project.
Some 11,000 people have already registered their interest in the 415 homes at the site at Cambie and Southwest Marine Drive.
There has been a succession of phone calls from a wide variety of potential buyers, and a steady stream of people looking at the show suites in advance viewings. When sales formally open today, it would not be a surprise if there were people lined up outside. That was once a common sight on Vancouver streets for pre-sale projects, but has become increasingly rare in recent years.
VANCOUVER LOFT – #503 1275 HAMILTON STREET – THE ALDA BUILDING
$969,900
#503 1275 HAMILTON STREET VANCOUVER WEST V6B 6K3
MLS® ID V935992
VANCOUVER LOFT – #608 36 WATER STREET – THE TERMINUS BUILDING
$486,000
#608 36 WATER STREET VANCOUVER WEST V6B 0B
MLS® ID V934771
REBGV STATS JANUARY 2012 – HOUSING MARKET UPDATE VIDEOCAST
WELCOME TO THE MARKET SUMMARY VIDEOCAST FOR JANUARY 2012.
Rosario Setticasi, president, Real Estate Board of Greater Vancouver, discusses real estate market activity in the Greater Vancouver area.
Contact Agnieszka Stryjecka for more information on Vancouver Real Estate. 778.991.5881 vancouver4life@gmail.com
THE B.C. FIRST-TIME NEW HOME BUYERS’ BONUS
SUBJECT TO APPROVAL BY THE LEGISLATURE, THE B.C. GOVERNMENT INTENDS TO IMPLEMENT A TEMPORARY BC FIRST-TIME NEW HOME BUYERS’ BONUS. EFFECTIVE FEBRUARY 21, 2012, TO MARH 31, 2013, THE BONUS IS A ONE-TIME REFUNDABLE PERSONAL INCOME TAX CREDIT WORTH UP TO $10,000.
REQUIREMENTS TO QUALIFY FOR THE BONUS
ELIGIBLE FIRST-TIME NEW HOME BUYER
You will qualify as a first-time new home buyer if:
• You purchase or build an eligible new home located in B.C.;
• You, or for couples, you and your spouse or common law partner, have never previously owned a primary residence;
• You file a 2011 B.C. resident personal income tax return, or if you move to B.C. after December 31, 2011, you file a 2012 B.C. resident personal income tax return (you will not be eligible for the bonus if you move to B.C. after December 31, 2012);
• You are eligible for the B.C. HST New Housing Rebate; and
• You intend to live in the home as your primary residence.
VANCOUVER CONDO – #602 789 JERVIS STREET – THE JERVIS COURT BUILDING
$749,900
#602 789 JERVIS STREET VANCOUVER V6E 2B1
MLS® ID V927134
VANCOUVER CONDO – #2702 930 CAMBIE STREET – THE PACIFIC PLACE LANDMARK TWO BUILDING
$598,000
#2702 930 CAMBIE STREET VANCOUVER V6B 5Y1
MLS® ID V929545
VANCOUVER CONDO – #503 1409 W PENDER STREET – THE WEST PENDER PLACE BUILDING
$798,000
#503 1409 W PENDER STREET VANCOUVER V6G 2S3
MLS® ID V921794
STATISTICS PACKAGE FOR FEBRUARY 2012 – VANCOUVER REAL ESTATE – REBGV
GREATER VANCOUVER HOUSING MARKET TRENDS NEAR LONG-TERM AVERAGE AS SPRING MARKET APPROACHES
Closer alignment between home buyer and seller activity helped bring greater balance to the Greater Vancouver housing market in February.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,545 on the MLS® system in February 2012. This represents a 61.4% increase compared to the 1,577 sales recorded in January 2012, a decline of 17.8% compared to the 3,097 sales in February 2011 and a 2.9% increase from the 2,473 home sales in February 2010.
February sales in Greater Vancouver were the third lowest February total in the region since 2002, though only 151 sales below the 10-year average.
VANCOUVER LOFT – #601 1236 BIDWELL STREET – THE ALEXANDRA BUILDING
$1, 149,000
#601 1236 BIDWELL STREET VANCOUVER WEST V6G 2K9
MLS® ID V926827
VANCOUVER LOFT – #506 933 SEYMOUR STREET – THE SPOT BUILDING
$599,999
#506 933 SEYMOUR STREET VANCOUVER WEST V6B 6L6
MLS® ID V930051
VANCOUVER NEW DEVELOPMENT AND PRESALE – 999 SEYMOUR CONDOS – BY TOWNLINE
999 SEYMOUR – 999 SEYMOUR STREET – VANCOUVER V6B 3L9
EXCITING COLLECTION OF 134 INTELLIGENT, FORWARD THINKING URBAN RESIDENCES
| Suite # | Suite Type | Interior sq.ft. | Balcony sq.ft. | Total sq.ft. | Prices From: | |||||
| 1501 | Studio | 468 | N/A | 468 | $337,900 | |||||
| 1002 | One-bedroom | 500 | 27 | 527 | $353,900 | |||||
| 604 | One-bedroom | 504 | 116 | 620 | $354,900 | |||||
| 1108 | One-bedroom + Den | 627 | 27 | 654 | $445,900 | |||||
| 807 | Two-bedroom + Flex | 697 | 148 | 845 | $504,900 | |||||
| 1703 | Two-bedroom + Flex | 703 | 148 | 851 | $527,400 |
Click here to view some examples of the 999 Seymour floor plans.
Click here to download a pdf of the pre-sales.
Click here to view the features of the Plan A homes.
VANCOUVER CONDO – #503 1328 W PENDER STREET – THE CLASSICO BUILDING
$499,000
#503 1328 W PENDER STREET VANCOUVER V6E 4T1
MLS® ID V930179
GOVERNMENT ANNOUNCES NEW HST/PST HOUSING TRANSITIONAL RULES
RETURN TO PST
As the province transitions back to the PST, which will replace the HST effective April 1, 2013, measures to ease the HST burden on new home buyers, include:
• The BC New Housing Rebate threshold will increase to $850,000 from $525,000, so that more than 90% of newly built homes will now be eligible for a provincial HST rebate effective April 1, 2012 .
• The maximum rebate will increase to $42,500 from $26,250 effective April 1, 2012 .
• Buyers of new secondary vacation or recreational homes outside the Greater Vancouver and Capital Regional Districts priced up to $850,000 will be eligible to claim a provincial grant of up to $42,500 effective April 1, 2012.
• For newly built homes where construction begins before April 1, 2013, but ownership and possession occur after, purchasers will not pay the 7% provincial portion of the HST. Instead, purchasers will pay a temporary, transitional provincial tax of 2% on the full house price.
VANCOUVER CONDO – #1702 811 HELMCKEN STREET – THE IMPERIAL TOWER BUILDING
$468,000
#1702 811 HELMCKEN STREET VANCOUVER V6Z 1B1
MLS® ID V919074
VANCOUVER NEW DEVELOPMENT AND PRESALE – ALEXANDRA ENGLISH BAY – BY CONCORD PACIFIC AND ALEXANDRA ENGLISH BAY PROPERTIES LTD.
ALEXANDRA ENGLISH BAY – 1215 BIDWELL STREET – VANCOUVER V6G 2K7
CONTEMPORARY ARCHITECTURE, OPULENT FINISHINGS AND BREATHTAKING VIEWS IN VANCOUVER’S ORIGINAL SEASIDE NEIGHBOURHOOD
Alexandra English Bay is a new condo project by Concord Pacific and Alexandra English Bay Properties Ltd. currently under construction at Davie St and Bidwell St in Vancouver. The project has a total of 85 units.
| Suite Type |
Plan Type |
Area |
| Studios | Plan A & A1 | 443 sf |
| One Bedrooms | Plan C & C1 | 489 sf |
| City View Homes | Plan R | 891 sf |
| Water View Homes
Sky Terrace Residences Penthouse 2101 |
Plan G & G1 | 907 sf
985 sf 2,778 sf |
STATISTICS PACKAGE FOR JANUARY 2012 – VANCOUVER REAL ESTATE – REBGV
SELCTION BROADENS AND DEMAND EASES TO KICK OFF 2012 IN THE GREATER VANCOUVER HOUSING MARKET
Vancouver, BC – Greater Vancouver home sellers were more active than buyers in January and overall home prices, according to the new MLS® Home Price Index (MLS® HPI), continued to experience more stability and less fluctuation compared to the beginning of 2011.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 1,577 on the Multiple Listing Service® (MLS®) in January 2012. This represents a 4.9% decrease compared to the 1,658 sales recorded in December 2011, a decrease of 13.3% compared to the 1,819 sales in January 2011 and an 18% decline from the 1,923 home sales in January 2010.
January sales in Greater Vancouver were the second lowest January total in the region since 2002, though only 146 sales below the 10-year average.
VANCOUVER NEW DEVELOPMENT AND PRESALE – TELUS GARDEN – BY PETERSON GROUP AND WESTBANK
TELUS GARDEN – 777 RICHARDS STREET – VANCOUVER V6B 3A4
LANDMARK VANCOUVER TELUS GARDEN CONDOS FOR SALE
The new TELUS GARDEN Vancouver condo project will include 1 to 3 bedroom homes in addition to luxury Vancouver TELUS GARDEN Penthouse Suites and Sub-Penthouse Residences as well as the Telus Garden Signature Suites for sale starting from the $270,000’s range. Remember that the new BC HST transitional rules will apply in addition to the new Home Buyers Rebate so that these units are ultra affordable for the downtown Vancouver real estate market. Also the project is striving for LEED Platinum and Gold certification, which means that the buildings will use approximately 80% less energy than a standard high-rise building!
10 STEPS FOR SELLING YOUR HOME
STEP-BY-STEP GUIDE TO HELP YOU SELL YOUR HOME
DECICE WHEN TO SELL
In real estate, timing can influence your home’s selling price. Factors like how quickly you need to sell, whether it’s a buyers or sellers market and seasonality all play a role in your home’s final selling price.
FIND A REALTOR® WHOS IS RIGHT FOR YOU
The Realtor®who helped you buy your home is a good place to start. They already know your home and they know you, so you’ll be saving time right from the start. Or look for names on “For Sale” signs in your neighbourhood or ask your friends and family. Make sure to interview two or three candidates and choose the one you like best.
SIGN THE LISTING AGREEMENT
This authorizes your REALTOR® and their brokerage to market and sell your home. It will define the legal relationship between you and the real estate brokerage and also set a time limit for your REALTOR® to sell your home.
