FSR BLOG

Apartment For Sale in Gastown

2010-03-13T09:50:00Z

• 708 sq. ft., 1 bath, 1 bdrm apartment - MLS® $448,000 - REDUCED TO SELL!!!

Gastown, Vancouver - Brand new, Beautiful 1 bedroom in Woodwards W-32 Tower high above the city with impressive views of the SE , Coal Harbour and City. Watch ships at Vancouver Wharf on the backdrop of the Mountains, overlook False Creek/Yaletown and enjoy all that living at this historic address has to offer. No property taxes for 3 years. Your own parking spot. Heat included. Modern appliances including stainless gas stove, fridge, d/w, silestone counters, front loading washer/dryer, etc. Amenities galore including onsite shopping. Wired for internet incl. in strata maintenance!! No GST on purchase price – already paid for by seller. Come live at Woodwards! Take a look at the Developers web site here for further info: http://www.woodwardsdistrict.com/

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826 Lillian Street in Harbour Place is Sold!

2010-03-13T09:37:00Z

Harbour Place, Coquitlam - The bungalow at 826 Lillian Street has been sold.

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4-2446 4th ave in Kitsilano Vancouver West is Sold!

2010-03-13T09:33:00Z

Kitsilano Vancouver West, Vancouver - The townhouse at 4-2446 4th ave has been sold.

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FREE MARKET EVALUATIONS

2010-03-13T08:59:00Z

The correct selling price of a home is the highest price that the market will bear. To assist you in determining the correct asking price we will provide you with a comprehensive market analysis (CMA) of comparable properties sold and offered for sale in your neighborhood.

To provide a more detailed Comparative Market Analysis, we would be more than happy to meet with you in person to preview your home. To sign up for your FREE no obligation Market evelauation CLICK HERE

FREE First Time BUYERS SEMINARS - Saturday, April 10 & 24, 2010 11:00am – 12:00pm

2010-03-13T08:30:00Z

Have you ever wondered about the complexities of purchasing a home?.....

Topics covered include:

• How to choose and work with a REALTOR®

• 1% Property Purchase tax exemptions for First-Time Buyers

• The HST and implications of purchasing after July 1, 2010

• Assembling your "real estate team"

• Why do I need a home inspector?

• The importance of Mortgage Pre-Qualification

• Government Incentives for First-Time Buyers

• Advantages of "Exclusive Buyer's Agency" explained

On the corner of Smithe and Howe, next to Waves Coffee Shop, with easy access by Transit/Skytrain or car (parking lot next door and available street parking.)

Pre-register now by calling 604-683-1393, or e-mailing donna@fullerservicerealty.com Online registration also available at HERE

Seating is limited so hurry and reserve your place now!

Home sales activity strong through 2010 Olympic period

2010-03-13T08:14:00Z

VANCOUVER, B.C. – March 2, 2010 –The Greater Vancouver housing market continued to experience strong demandfrom homebuyers and an increase in total property listings in a month where the eyes of the world were focused on the region. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 2,473 in February 2010, an increase of 67.1 per cent compared to February 2009 when 1,480 sales were recorded and a 28.6 per cent increase compared to the 1,923 sales recorded in January 2010.

More broadly, last month’s sales totals marked a 7.6 per cent decline compared to the 2,676 sales recorded in February2008 and were 13.5 per cent behind February 2007 when 2,859 residential sales were recorded on the Multiple Listing Service (MLS®) in Greater Vancouver.

Over the last 12 months, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 19.7 per cent to $581,911 from $486,054 in February 2009. This price is 2.4 per cent above the previous high point in the market in May 2008 when the residential benchmark price sat at $568,411.

“We don’t know at this point what long-term impact the Olympics will have on our housing market, but we do know that activity in our market remained steady through all of the excitement and distraction of the last few weeks,” Scott Russell, REBGV president said.

“In February, for example, 110 sales were recorded on the MLS® in downtown Vancouver. That’s higher than 2009 and slightly lower than the mid-2000s, which is consistent with data from the overall market. It’s too soon to say whether that’s an Olympic effect,” Russell said.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,606 in February 2010. This represents a 17.6 per cent increase compared to February 2009 when 3,916 new units were listed, and a 10.5 per cent decrease compared to January 2010 when 5,147 properties were listed on the MLS® in Greater Vancouver.

At 11,346, the total number of property listings on the MLS® increased 11 per cent in February compared to last month and declined 21 per cent from this time last year.

“Two months into 2010, we see the total number of homes listed for sale on the rise and demand in the market strong, but less frenzied than we saw in the latter part of 2009,” Russell said.

Sales of detached properties increased 67.5 per cent in February 2010 to 983 from the 587 detached sales recorded during the same period in 2009. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties increased 22.5 per cent from February 2009 to $800,796.

Sales of apartment properties in February 2010 increased 65.2 per cent to 1,074 compared to 650 sales in February 2009. The benchmark price of an apartment property increased 17.3 per cent from February 2009 to $390,899.

Attached property sales in February 2010 are up 71.2 per cent to 416, compared with the 243 sales in February 2009. The benchmark price of an attached unit increased 16.2 per cent between Februarys 2009 and 2010 to $495,496.

DATA PROVIDED BY: REBGV - The Real Estate Board of Greater Vancouver is an association representing more than 9,600 REALTORS®. The Real Estate Board provides a variety of membership services, including the Multiple Listing Service®.

HST and a Hot Spring 2010 Greater Vancouver Market!

2010-03-12T05:52:00Z

Some interesting information you all should be aware of...

I spoke to the Real Estate Board (MLS Department) the other day, and now that the Olympics are over, they have been flooded with new listings and are now so far behind with processing them. I believe this is due in part to the fact that people are not only getting ready for the spring market, but they also want to sell before the HST comes into effect (July 1, 2010) - that's just my opinion… isn’t that interesting? Who knows what kind of impact the HST is going to have on the market! My guess is that people don’t want to take any chances on paying more taxes so the majority are going to try to buy and sell now.

Prospective sellers or buyers should be aware to act soon if you wish to avoid paying this additional tax! This tax will apply to all goods and services. This will include your lawyer/notary fees, home inspector fees, and realty fees to name a few. Also, there will be a replacement of GST (5%) to HST (12%) to all new constructions - This could surmount to thousands more in closing costs!

Remember, you MUST have a possession/closing date prior to July 1, 2010 in order to be exempt from this additional tax. Read more here. In theory, this leaves less than 4 months to save a lot of money, and really, that isn’t that long by the time you get the property exposed, you receive an offer and set a possession date!

At FSR, we like to keep our clients informed as to the realities of the current market conditions so they can make better decisions. I have a feeling that the next few months in the real estate market are going to be nuts!

Donna Fuller – FSR Managing Broker