< Previous

Terra Nova Real Estate Report Richmond,BC

January 30th, 2013
Terra Nova is like a microcosm for Richmond Real Estate. And Richmond real estate is a microcosm for immigration.  If Terra Nova is doing well, then Richmond will do well.  So here is a snapshot of Terra Nova Real Estate over the last couple of weeks; and it isn't great.  There are still great buying opportunities in this market.

IN the last 14 days in Terra Nova, there have been 5 new listi ...

Rent or Buy Your Next Home?

January 29th, 2013
Over the last few years when real estate prices were most often consistently rising, I could not help but think that perhaps we as a family ought to sell.  Wasn't almost 300% good enough?  It seems that it was easier to advise clients to do this than to do it oursleves. "Where are we going to move?", and "I'm not renting again" were the responses I got.  "Stop thinking of the house as a finan ...

House gets "Flipped" for 19.4% gross profit in 6 months!

January 24th, 2013

A Single family residence built in 1986 was purchased for $720k in June of 2012 and was just sold for $860k in the Lackner area on Jaskow Dr.  It looks from the listing that new flooring and some bathroom updates were added after the purchase.  Estimating these updates to be around $15k and considering property purchase taxes and outgoing commissions, legal costs and carrying costs at prime + ...

Forecasting Vancouver Real Estate Prices

January 23rd, 2013
Relying solely on statistical analysis relating to Housing Price Indices, listing inventory levels and absorption rates may not be a completely accurate means of getting a handle on Lower Mainland Real Estate Prices.

A stockbroker once told me that he wouldn't be able to find 100,000 shares of a large Canadian public company on the market from between $35-60, when the shares were then priced a ...

What's Selling in Richmond?

January 22nd, 2013
We are now well into 2013 and I thought I'd set down a summary of what is selling and where in Richmond so far this year.

There have been 363 new listings for property to date and 72 sales. 
27 of the sales have been apartments selling between $279,000 and $618,000 (a single outlier sale at this price) with the median price being: $351,000 for a 2 BR on General Currie Rd.   
18 have been townhou ...

Richmond Condo for sale for $1

January 22nd, 2013

I've just uploaded this listing for a condo at the Laguna in Richmond.  And I always thought 1% Realty referred to some commission arrangement!  This ranks as one of the largest price reductions ever: From $355,000 down to $1!
LAGUNA offers beautiful award winning grounds with fountain, clubhouse with a hot tub, gym and TV reading room, all this built by Polygon. You will fall in love with a g ...

Vancouver & Lower Mainland Housing Price Declines

January 18th, 2013
I just did a similar analysis to my previous Blog/Tweet/post to look at price changes which includes the following areas altogether: East, North & South Burnaby, East Vancouver, Vancouver West, West Vancouver and New Westminster.  I excluded Richmond, to get a feel for what major differences might appear.

As of January 18, 2013 at the time of this blog writing, there were 281 price changes  in ...

Price Reductions-Richmond Homes for Sale

January 18th, 2013

As of January 18, 2013 at the time of this blog writing, there were 69 price changes on Richmond property in the last 14 days of which 63 were price reductions and 6 were price increases.  The average price change was a 4% decrease including the data from the total population.  The largest percentage decline was 12% or $28,000 on a condo now priced at $210,000 and the largest absolute price d ...

Just Bought-4195 Tyson Pl

January 17th, 2013
One of the things nobody wants to talk about in the Real Estate business is the aspect of Dual Agency.  That is where a buyer and seller are represented by the same Realtor.  Would anybody dare ask Crown Counsel to represent them at the same time as they are being prosecuted for tax evasion by that same guy?!!

Part of the problem is that many people simply call the Realtor who appears on the ...

Baby Boomer's Downsizing Gem!

January 17th, 2013
I just sold this spacious townhouse that is the perfect retirement model for those with an active lifestyle who want to forget maintenance yet still feel like they have all the space of a house to entertain and live in. Central Richmond with 2200+ sq. feet. large west facing rear yard and it will be absolutely stunning once my clients get through redecorating.  The fun begins tomorrow afterno ...
< Previous