2013 was a great year and it saw a lot of changes for the Canadian housing and mortgage markets. The housing market maintained a consistent balance between buyers and sellers for the year of 2013. This has allowed the market to enjoy broad stability and moderate home sale increases throughout this period. Although home sales are down as per the 10 year average, home sales have significantly increases from 2012. 

 

54,742 homes sold on the MLS in the Greater Vancouver Regional District in 2013.

 

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Attached are the recent stats and market video update for November.

 

Housing market was up 37.7% from November last year with a total of 2,321 homes sold. With a total 13,986 homes for sale in the GVRD currently the Sales-to-Active Listings Ratio puts the entire GVRD market in a balanced market.


Westside detached houses priced in the $1.2M-$1.7M level are especially busy selling for over asking price with multiple offers. If you have any questions regarding real estate please contact me anytime.

 

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The City of Vancouver has just approved the construction of a brand new type of living in the Downtown East Side. This will not be a brand new development investment opportunity for rich tychoons, this will instead focus on the more main issue associated with Vancouver's ever increasing Real Estate prices. This will focus its attention on being a non-profit social development opportunity.

 

The current area is home to a lot of social housing and shelter opportunities and this will only help to benefit more individuals and families.

 

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The hospital in Mexico City has been constructed with a special type of chemical coating that sucks up and neutralizes smog. According to the company who is producing the chemical it can absorb the equivalent of 8.750 passing cars per day.

 

The exterior is coated in titanium dioxide that reacts with UV light and reduces the surround air poolutants into neutralized carbon dioxide and water.

 

The honeycomb design allows the wind speed to be reduced and surface area to be increased allowing for the most amount of reaction from the polluted air.

 

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This marks Vancouver City Council's first move to start rezoning Mount Pleasant as this beautifully designed Coastal Forest Architectural concept has been approved for the area of Main and Kingsway.

 

“Once a coastal forest, now a bustling urban site, the building presents a contemporary design response that simultaneously captures the ‘atmospheres’ of the old and new Mt. Pleasant.” Says local project architect, Arno Matis.

 

The building will house a variety of things from street side commercial and retail to over 80 units of residential and even laneway studio spaces for urban artists. The futuristic design and architectural concept will filter light of varying intensity throughout the day. The idea behind this unique approach is to capture to feeling of a forest canopy and how it filters the daylight.

 

 “The project’s ‘vertical forest’ façade, is an impressionistic interpretation of light filtering through Vancouver’s costal rainforest“ notes Architect Arno Matis.

 

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Jim Pattison, a well renowned and local Vancourite is planning a new Mega tower development downtown near his Toyota dealership on Burrard Street and Drake.

 

 

This could be another tower that would dramatically alter the skyline of Vancouver. Vancouver City council and many developers are pushing forward and trying to navigate away from the mute green coloured glass towers that populate our current skyline. They want to create more diversity in the landscape of our urban centre.

 

He is seeking to get approved 3 towers that will dominate the corner of Burrard and Drake and provide approximately 800 units of residential living, as well as office and commercial retail space. Of course keeping the dealership and improving the quality of its location.

 

This construction would also include a large amount of commercial and residential parking that would help alleviate the current lack of parking in the area.

 

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It's that time of the month again when the Real Estate Board of Greater Vancouver releases their market updates for the past months real estate activities.

 

Westside detached houses priced in the $1.2M-$1.7M level are especially busy selling for over asking price with multiple offers. If you have any questions regarding real estate please contact me anytime.

 

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Imagine yourself living in 100SqFt?

 

It's easier than you imagine, for most of us we don't require these large living spaces. Especially for a lot of urban centres, the majority of time spent is out of the home in cafes, bars, club, stores, libraries, work, etc.

 

But for only $25,000 you can have this amazing little gem! A 10’ x 10’ micro house with a 60’ loft space developed right here in Vancouver. It’s easy to assemble and flat packed so it can be shipped worldwide. They cost between $25,000 and $28,000, depending on how well you want it to be kitted out. You can also get “green” off-grid models (ie. solar-equipped), but those are custom-priced.

 

The impetus: “The Tiny House Movement is currently driven by individuals at a grass-roots level who, for the most part, have built their own homes and are living sustainable, mortgage-free lives. Recognizing the importance of these progressive dwellings and the philosophy adopted by their occupants, NOMAD has taken on the challenge of making this affordable housing option accessible worldwide.”

 

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Vancouver City Council approved to build a 500 foot tower at the North end of the Granville bridge on the downtown side. This new tower will sit in the derelect empty spaces that occupy the North end of the bridge. The City Council unanimously voted 11-0 for the project to move forward designed by the renowned Danish architect from the Bjarke Ingels Group (BIG).

 

Most local residents are in general favor of the project since it will revamp the current derelect area of the city into a more commercial/residential district and bring in a lot more activity and culture to the area. The Westbank Corporation now has the final stamp of approval to move ahead with the 4th tallest tower in the city.

 

One of the reasons the Council and local residents were so on board with the construction of the new project could be the fact it strays away from the 'cookie cutter' condo feeling in the downtown area and moves to a more modern progressive stance on building architecture.

 

The new triangle to square structure will provide a new gateway to the downtown core and we definintely reshape the skyline of Vancouver.

 

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Buyers and Sellers activities in the Greater Vancouver Regional District is still continuing to outpace the 2012 downturn even into the 4th quarter of this year.
 
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,483 on the Multiple Listing Service® (MLS®) in September 2013. This represents a 63.8 per cent increase compared to the 1,516 sales recorded in September 2012, and a 1.2 per cent decline compared to the 2,514 sales in August 2013. 
 
Last month’s sales were 1 per cent below the 10-year sales average for the month, while new listings for the month were 3.5 per cent below the 10-year average.
 
“While sales are up considerably from last year, it’s important to note that September 2012 sales were among the lowest we’ve seen in nearly three decades,” Sandra Wyant, REBGV said. “Home sale and listing activity this September were in line with the 10-year average for the month.” 
 
If you or someone you know is interested talking more about the possibility of buying or selling, please don't hesitate to contact us. 
 
Cheers,

Van City Properties

 

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