Blog › May 2012

Recently Sold Listing # 217 - 2726 SHAUGHNESSY ST, Port Coquitlam, BC

shaugnessy

 I have just recently sold this 4 Year old 2 bedroom 2 bathroom Apartment at # 217 - 2627 SHAUGHNESSY ST, Port Coquitlam.


Recently Sold Listing # 217 2627 SHAUGHNESSY ST, Port Coquitlam, BC

V941575 - # 217 2627 SHAUGHNESSY ST, Port Coquitlam, British Columbia, CANADAI have just recently sold this listing at # 217 2627 SHAUGHNESSY ST, Port Coquitlam.

Bubble or no Bubble?


According to condo king Bob Rennie there's no bubble to be seen in Vancouver...

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Yesterday, Bob Rennie of Rennie Marketing Systems gave his annual key note speaker address to the members of Vancouver’s Urban Development Institute – a non-profit association of the development industry with over 600 corporate members involved in all facets of land development and planning including: developers, property managers, financial lenders, lawyers, engineers, planners, architects, appraisers, real estate professionals, local governments and government agencies. The theme of Mr Rennie’s talk was the ever-present spectre of a looming real estate bubble in our city. A specialist in marketing pre-sale condos, he denied that there is a bubble.

(the following is an article written by Brian Morton for today’s Vancouver Sun)

Bubble? What bubble?

That’s Vancouver condo marketing guru Bob Rennie’s take on concerns that the region’s real estate market is headed for a meltdown because of sky-high prices.

“It’s not a bubble,” said Rennie, director of Rennie Marketing Systems, in an interview following his keynote address to the Urban Development Institute Thursday.

“With the 80 per cent of the [condo] market that traded in [Metro] Vancouver last year, you only needed a household income of $52,800 to purchase. That’s not a bubble story.”

Rennie, who spoke to a full house about the state of the Vancouver property market, said aging baby boomers with billions of dollars in equity will become a much greater force in the condo market as they increasingly downsize from expensive single-detached homes, and put money aside for their children.

He also noted that the number of people between 55 and 64 will increase 38 per cent between 2009 and 2018, those between 65 and 74 will increase 56 per cent, while those between 35 and 54 will only increase by 4.6 per cent.

Because of that, he said, developers should shift their thinking into providing more larger one-bedroom condos to accommodate the downsizing boomers.

“I believe the leaner, meaner baby boomer is the game changer,” said Rennie. “Baby boomers are sitting on $88 billion in equity in Greater Vancouver and they’re looking at their retirement years. That equity will be freed up over the next 15 years [and] when they sell their home, they’ll buy down and help their kids.”

Rennie said there were about 19,000 condo sales in Metro Vancouver in 2011, and that while the average price for 80 per cent of those condos was $315,000, the overall average price was $427,000, which required an income of $66,000 to finance.

Rennie noted that proximity to transit is paramount for today’s homebuyer.

“In the ’70s and ’80s it was location, location, location. In the ’90s through mid-’2000s, it was timing, timing, timing. And from here forward, it’s transit, transit, transit.”

He also said that planning should be conducted more on a regional basis in order to make homes more affordable.

Meanwhile, Tsur Somerville, director, centre for urban economics and real estate, Sauder School of Business at the University of B.C., said he also doesn’t believe there’s a real estate bubble in Metro Vancouver, largely because there’s not an explosion in housing starts – typical for real estate bubbles.

Somerville said that while the affordability numbers have been skewed by the higher end parts of the market – “there were double-digit increases in Richmond, Vancouver, Burnaby and West Vancouver, with single-digit increases everywhere else” — the region is still very expensive compared to other cities in Canada.

“Compared to other cities, that income [$52,800] gets you a house. Here, it gets you a condo. That means we’re expensive, but that’s the reality of what we are.

“It’s still an expensive place to live, but it’s not unaffordable. You’ll end up smaller and further away from the core.”


New Listing # 503 160 W 3RD ST, North Vancouver, BC

V950667 - # 503 160 W 3RD ST, North Vancouver, BC, CANADAView my new Apartment for sale at # 503 160 W 3RD ST, North Vancouver and currently listed at $409,000.

Outstanding value in this 4 year old Fully Concrete boutique low-rise in Lower Lonsdale. Excellent ocean, harbour & city views. Spacious open concept, living, dining, kitchen area all facing the views in this very green, LEED Award winning 1 bedroom & den. Strata fees include all heating, hot water & gas! Engineered Hardwood floors, S/S appliances, radiant in-floor heating, fireplace, Hanstone Quartz countertops, designer colors. Close walk to everything including seabus. Great investment property currently being rented for just under $1,500 / month or move in yourself & enjoy this wonderful unit. Open House Sunday June 3rd from 2-4 pm

Curb Appeal

It's the Little Things That Boost Curb Appeal

"Curb appeal". You've probably heard that term used before. It refers to how valuable and enticing your house looks from the outside, typically from the perspective of a potential buyer “standing on the curb”.

Many people focus on preparing the inside of their house for sale, and neglect preparing the outside.This is a mistake. Studies confirm that curb appeal has a huge influence over how quickly your house will sell, and for how much.

How do you improve curb appeal?

You don’t need to do a major landscaping renovation! In fact, small improvements often make the biggest difference… improvements you can easily do over a weekend.

Here are some suggestions:

  • Clean the outside of front windows. Make them sparkle!
  • Remove grass,weeds and other unwanted growth between driveway and walkway stones.
  • Prune shrubs and trim trees.
  • Re-sod bare spots on the lawn.
  • Edge the lawn. (A simple task that can have a dramatic visual impact.)
  • Water the flowerbed. (Flowers look brighter and more healthy within one hour of watering.)
  • Sweep the walkway and driveway. Rake the leaves.
  • Remove signs such as “Beware of dog” and “No solicitations”.
  • Check the welcome mat. If it’s worn or dirty, replace it.

Also, consider buying some attractive potted flowers to put near the entranceway. They are worth the investment.

As you can see, it doesn't take much to boost the curb appeal of your house. Just a little work and a few added details will make a big difference.


                                  curb-appeal 

Need more ideas for increasing the “sales appeal” of your house? Call today.