Are the number of sales down? Yes they are. We’re down about 14% over last year, but considering how unrealistically HOT the market was in early 2012 and some previous years, this really tells me we’ve had an adjustment and some hot air has been let out of an over-inflated balloon. Vancouver real estate has been clipping along at such a frantic pace for so long, very few people have any conception of what is normal. 

Are the number of homes for sale UP? Yes they are. But only by approximately 5% over last year.  Also notable is that the number of new listings coming on the market has dropped by 11% over this time last year. That’s a good thing. This tells me we should see inventory levels start to decline which will bring us back to a more balanced market this year. What’s more important is what I call “REAL INVENTORY”. These are the homes that are reasonably priced based on current conditions. Real Inventory is actually pretty low right now. Most homes for sale are totally out to lunch and have effectively taken themselves out of the running. Still in today’s market, many homes sell very quickly for close to, or more than asking price.

Have prices dropped? In the past year the Benchmark price has dropped in many areas. In some it has actually gone UP! It really is area and price range specific. It’s hard to identify any areas in our region that have shown a price drop from today  to over the past 3 plus years. Real Estate is still a safe investment.

What’s going to happen? I believe we will continue to see softer market conditions that we’ve come accustomed to over the next year. But again … really, what is normal? Inventory will continue declining as greedy and unrealistic sellers drop out of the market. It’s possible we could see the prices drop by the end of the year, but I highly doubt it would be by anything significant. I believe it’s more likely the prices will have stabilized and start to rise very gradually as we get further into the year.

Who has an advantage right now? I see opportunities for the following people.

1. First Time Owners. Prices have dropped and interest rates are really low for now. Prices aren’t likely to drop further by much, if at all by this time next year and over the next 3 to 5 years this will be a good investment.
2. Investors. For the same reason as first timers.
3. Move-up buyers. When the prices go down, everything is less expensive, including the commissions to sell and the price paid on the next home. The great news for this person is that there is little concern of not being able to find the next home. We do have more choices. Market conditions are perfect right now for the “mover-upper”.

Who do you listen to? There are multiple opinions on what’s going on out there. If you’re confused and want to get a clearer picture, please give me a call. If you know anyone who needs help with real estate and is looking for a good agent, I have one in mind!

Yours Truly,

Glenn

I'm sitting here with some of the gang at blu and here's what we think would be awesome, staging packages!  The sports package, have all sorts of old sports memorabilia like a couple of old hockey sticks in the corner, some old boxing gloves, a few jerseys in the closet, a bunch of hats on display.  Maybe the extreme sports package, don't be afraid to showcase your skate decks, your skis, your surfboads or your wetsuit.  In the name of James Bond and Skyfall maybe you want the classic package, martini shaker, a sexy dress draped on the bed, a tuxedo hanging in the closet, a cigar in an ashtray and some other shiny stuff.  Maybe you want the fashionista package, showcase a ton of shoes, have the best organized closet in the city, throw in some old Victorian furniture.  Maybe you want the rocker package with guitars on display, some red velvet, some smashed up furniture and a couple of people passed out (just a joke, that is not my true opinion of rockers, I love rockers).  The DJ package, the artist package, of course the family package and the list goes on.  I know it's not realistic for stagers to have every item under the sun.  Their warehouses are only so big and I'm sure their budgets for furniture are only so big.  I guess what I'm thinking is this; could you stage a lifestyle instead of a property?

Located in Yaletown's heritage district, the GRAFTON is a beautiful brick and beam building that was redeveloped into slick, loft style apartments in 1998.  One of the cool features of this building is that it fronts onto two streets.  You can walk out to Homer Street to strut towards the action of Granville, or from Mainland Street, you can run across to Rodney's Oyster House or venture down to the seawall.  This 850 sf, 4th floor loft has exposed brick, maple flooring, BIG windows, a private bedroom, open living space and kitchen, an external storage locker and best of all a secured underground parking stall!

Then moving onto LATITUDE, a new and modern townhouse devleopment neighbouring Trout Lake.  SUNDAY NOVEMBER 11th from 12 - 5PM.  3 townhouses have SOLD with 5 remaining!

AND  WE'LL THROW IN THIS GASTOWN LOFT......

It is time to get creative and have some fun while selling real estate!  My client and I thought what better way to enhance your lifestyle than having an electric scooter to bomb around town on so we've included one in the sale!  Never pay for parking in the city again!  What else could enhance your lifestyle?  How about a gym membership?  You got it, you can have your choice of a 1 year prepaid memebership to Steve Nash Sports Club OR you can choose 6 months of 3Dimensional personal training at Kalev Fitness Solution.  The ultamite urban tool for the ultamite urban loft! Sounds pretty fun to us! 

Your current choices:

# 401 1 E CORDOVA ST, VANCOUVER $344,900.00

# 310 1 E CORDOVA ST, VANCOUVER, $374,900

# 507 22 E. CORDOVA ST, Vancouver, $535,000

# 515 22 E CORDOVA ST, VANCOUVER, $519,000

# 432 289 ALEXANDER ST, VANCOUVER, $409,900

# 410 289 ALEXANDER ST, VANCOUVER, $499,900

# 603 289 ALEXANDER ST, VANCOUVER, $525,000

# 305 27 ALEXANDER ST, VANCOUVER, $624,900

# 305 36 WATER ST, VANCOUVER, $735,000

# 307 36 WATER ST, VANCOUVER, $738,800

# 310 36 WATER ST, VANCOUVER, $815,000

This is the deal you've been waiting for! 1008 sf, 2 level loft located in historic Gastown. Loft 507 is perfectly laid out. It is very wide as opposed to long and narrow like most lofts. With that comes 2 huge sets of windows allowing an abundance of natural light and beautiful views of the city to the west. This loft has an open kitchen, very large living space, 2 balconies, full bathroom on the main floor and a soaker tub on the upper floor where there is enough room to enclose a 2nd full bathroom or powder room. You'll also have access to one secured parking stall and your guests will have access to several visitor stalls. Pet and rental friendly. There's even a dog wash station for after a great play or swim at Crab Park.