Vancouver Real Estate Blog

Vancouver Apartments - Real Estate Market - The Gradual Slow Down Is Ahead Of Us

Inventory of apartments in Vancouver have been steadily rising since December when we had about 1350 homes on the market. Over the months that number has grown to 2100 apartments for sale in April.

 Sales for these homes have dropped by over 20%. "I predict that the number of homes on the market will keep increasing as sales will slow down". "This summer I believe will be one of the quietest on record" says Mitchell Mingie for all types of properties.

Vancouver Real Estate Market For Detached Homes On The Westside - Is A Correction Coming??

Vancouver Westside Real Estate is exhibiting a classic slow down. From the graph beside sales have dropped by 50%. However homes coming into the market have started to peak. Inventory or what we call it Active Listing Inventory has jumped 50%. I do not see inventory coming down. In fact it is quite the opposite and when inventory is calculated at the end of May we will see another jump in inventory which will cause a slow down in the market as buyers will know and feel that their is no urgency about making a decision currently.

"If you are going to sell your home do it now" says Mitchell Mingie as predictions are coming in for a price reductions across the Westside.

New Home For Sale In Vancouver- 218 West 15th Ave. Mount Pleasant - See video Attached - Open House Sun May 13th 2-4pm

 

Situated on a charming, beautiful treelined street in the heart of Mount Pleasant, Cambie and Main St corridor. This beautiful bright 2 level 2 bed, 2 bath garden level townhome is part of a heritage style 5plex. The homes highlights include an expansive LR with loads of windows, double glass sliding door out to your own private patio to allow natuarl light to flood in. Country style natural warm wood floors and wood fireplace set this home apart. The kitchen has been updated in the past with a newer open concept living style, including a gas cooktop, stainless steel oven and fridge and a window for natural light by the sink. The home also boasts having the bedrooms on different levels for privacy and separation. The master bedroom is located on the 2nd flr with a huge south facing walkout deck.

 

Here is a link to the video:

 

http://www.vopenhouse.ca/vid/10974_4314f7/

Vancouver Real Estate - Open House - Residential Living - Homes For Sale - Saturday May 12th 2-4pm #214-388 West 1st - 2 bed, 2 bath, 1625 sqft

This exquisite residence defines understated contemporary style and exudes elegance throughout. Peacefully positioned in the new South False Creek neighbourhood this heritage conversion boasts spacious, open and light filled living space.  Natural light throughout with north and west exposure.  This 1625 sq.ft. suite features polished concrete floors, exposed brick & fir beams, top line appliances, 2 master bedrooms with 2 ensuite spa style bathrooms. The building formerly known as the BC Telephone Exchange was completely transformed in 2009 into contemporary residential living space.  2 parking stalls & 1 locker included with this property. Pet friendly! Convenient to the sea wall, Canada line & shopping.

 

 

Vancouver Real Estate - Mother's Day Open House - At 218 West 15th Ave. - Sunday May 13th 2012 - 2-4pm

Situated on a charming, beautiful treelined street in the heart of Mount
Pleasant, Cambie and Main St corridor. This beautiful bright 2 level 2 bed, 2
bath garden level townhome is part of a heritage style 5plex. The homes
highlights include an expansive LR with loads of windows, double glass sliding
door out to your own private patio to allow natural light to flood in. Country
style natural warm wood floors and wood fireplace set this home apart. The
kitchen has been updated in the past with a newer open concept living style,
including a gas cooktop, stainless steel oven and fridge and a window for
natural light by the sink. Bedroom separation where the master bedroom is
located on the 2nd flr with s facing walkout deck

Vancouver Real Estate -Open House - Mount Pleasant - 218 West 15th Ave. - $588,900 1014sqft - Sat/Sun 2-4pm May 5th &6th

Situated on a charming, beautiful treelined street in the heart of Mount Pleasant, Cambie and Main St corridor. This beautiful bright 2 level 2 bed, 2 bath garden level townhome is part of a heritage style 5plex. The homes highlights include an expansive LR with loads of windows, double glass sliding door out to your own private patio to allow natural light to flood in. Country style natural warm wood floors and wood fireplace set this home apart. The kitchen has been updated in the past with a newer open concept living style, including a gas cooktop, stainless steel oven and fridge and a window for natural light by the sink. Bedroom separation where the master bedroom is located on the 2nd flr with s facing walkout deck

Vancouver Real Estate In Review - For March 2012

Welcome to the Month in Review:

 

Downtown – Attached(apartments & townhomes):

 -          Total sales down from last year 26%

-          One of only a couple of market areas where sold and inventory are keeping pace – therefore still a Sellers’ market

 

 Vancouver Westside – detached:

 -    keep an eye on this development – sale March 150, last year sales 279.

 -    inventory 797, last year 508

 -   I am seeing a larger gap develop between the inventory and sales. If this continues prices will move down.

  

Vancouver Westside – Attached( apartments & townhomes):

 -          I  am seeing larger inventories appearing from (792 last year to 889 March 2012)

-          Sales have also come down – last year 285 – 178 March 2012

 

 Vancouver Eastside – detached:

 -          More and more people are seeing East Vancouver as the place to buy. Prices are moving up. Sales and inventory staying fairly constant.

 

 Vancouver Eastside – Attached(apartments and townhomes):

 -         Inventory increasing.

-          Sales up from February stats but down from March 2011

-          Prices moving up.

-          Buyers are liking what they see and get for the price.

 

 North Vancouver - Detached:

 -         In the last 4 months inventory and sales keeping pace with each other.

-          Overall prices moving up gradually.

 

 North Vancouver – Attached:

 -         Inventory staying level.

-          Sales slowly moving up from 102 in Feb to 125 in March.

-          Price level steady.

 

  West Vancouver – Detached:

-          Balanced market.

-          Sales increased a bit from 65 February – 78 in March.

-          Inventory fairly constant.

 

 West Vancouver – Attached(apartments & townhomes)

 -         Sales remain the same.

-          Inventory increased slightly.

-          Prices have been moving up over last 3 months but are equal to last fall prices.

 

 Richmond – Detached:

 -         Sales are down.

-          Inventory moving up.

-          Prices showing decline.

 

 Richmond – Attached(apartments & townhomes):

 -         Sales are constant.

-          Inventory moving up.

-          Pricing fairly constant.

-          If inventory keeps increasing the way it has over the last two months Richmond may become over supplied which could lead to price adjustments.

 

 

Written by Mitchell Mingie of Re/max Crest RealtyWestside

“The Cornerstone of Sound real estate Decisions”

604-551-5487

mitchellmingie@remax.net

Vancouver Real Estate Open House Saturday April 21 2012 - Meet Mitchell Mingie

City and mountain view suite capturing the city skyline from the split level living and

dining room of this extra large one bedroom suite. Located on the Fairview slopes this suite is one storey above ground and boasts a large terrace. Large principle rooms with split level livingroom/diningroom design. Features of this move in ready suite include hardwood floors, wood burning fireplace, insuite laundry, spa inspired bath, walk-in closet and huge kitchen with computer area. 1 underground parking and 1 storage locker included. Buy with confidence in this rainscreened strata building. Bonus top floor common area deck too! OPEN SAT, APRIL 21, 2-4 PM.

Suite is north east facing one floor above ground with great city and mountain view. Parking #1 and storage #2

Vancouver - Choosing Seniors Housing And A warning about Assisted Living In Vancouver

Seniors Housing is successful--both for the provider and for the residents--when the former successfully meets the needs of the clientele to whom they are providing housing. That calls for commitment. They cannot "go halfway."

Twice in the past few months we have had concerns about  the response from senior personnel in two different Seniors residences to the needs of  our clients who were residing in those buildings. Both residences market themselves as independent living, but  also are  registered as providing assisted living.  This means that they are able to provide  personal care services such as  assistance with bathing, dressing, medication reminders, and more. Both are on the high end in terms of costs and  the clients to which they appeal.

 

Any residence which provides support services  is going to have residents with cognitive impairment. Either these people enter with the   impairment, or as they age they  become impaired.One of the reasons people choose to live there is because they are able to have these services, and, at least to some extent, age in place.

It would seem logical that  if a residence is accepting clients with dementia, or allows residents to remain in the care home as they  become impaired, then the facility would have the appropriate structures in place to meet those needs.  Unfortunately, neither of the residences referenced above appeared to have such structures in place.  Further,  the administrators of both homes  told us such care would not be forthcoming as the residence is an independent living facility.  In fact, both residences have been registered as assisted living facilities.

 

If you are a loved one is considering seniors housing, it is critical that you familiarize yourself with types of housing and the requirements and services  provided by each type of residence.

Examples of to what an assisted living residence needs to do:

 

People who are cognitively impaired  may  be able to participate in most recreation programmes, but they also have differing needs. At the very least, they may need  a higher degree of structure to be able to take advantage of what is available.  For instance, they may need more reminding to come to a programme, they may need more instruction during the programme,  a simpler version, or an opportunity for a  longer response time. We believe that it is the Residence's responsibility to respond to these needs.

 

This type of additional structure is also necessary in other areas. For instance in a dining room, a cognitively impaired resident with diabetes may need  the serving personnel to offer them a diabetic dessert as a first choice or at least as an alternative.   They may need to be brought a diabetic main course, or at least instructed about  the main course.  This helps them to adhere to a diet.  This  means that dining room personnel need to know who is diabetic and who is cognitively impaired.  It suggests a certain level of training and  responsibility.

 

People with dementia often have impairments in what we call executive function. Whereas they may be able to tell us what they would like and be able to respond appropriately  in  emergency evacuation but may not have  the insight, judgment, and awareness they  need to make informed decisions about their care needs.  Someone needs to help them and arrange for a structure to insure needs are adequately and safely met. The residence must be aware of the needs and have a system in place. They must be  ready to involve family or other caregivers when necessary. It is not  reasonable for the residence to  depend on the resident to make decisions which he or she is not capable of making.

 

The common thread in the above examples is the  willingness of the Residence to respond to the needs of the residents they say they are able to accommodate. It speaks to an attitude and an awareness, as well as an understanding of  their clientele.

 

When considering a move to Seniors housing, be aware of present and future needs.   Ask the residence how they will meet those needs. How will it respond if a resident develops dementia or loses their sight? How does their programming reflect the needs of impaired residents?  How does management cope with  these needs as they arise?  What do they see as their responsibility?

 

If a Residence does not have nursing care, so is not a nursing home, they  will ask a resident to leave if the individual's needs  become too high. When you are taking a tour, be quite clear that you want to know what that point is, and how they will handle it.

 

Asking questions about how a Residence functions is one way  to help caregivers  understand what their present and future role and responsibilities will be. Living in Seniors housing is a great solution for a lot of people, but it does not solve all of the concerns that caregivers have.

To read more information about seniors, please go to Diamongeriatics below.

http://www.diamondgeriatrics.com/

Water Damage Prevention -5 Ways To Reduce Water Problems In Your House

Water damage is one of the most common and costly challenges for Vancouver and BC homeowners. One of the wisest moves a homeowner can make is to safeguard their home against preventable incidents that cause extensive - and expensive damage.

It is always better to err on the safe side, and a few simple precautions around the home can save headaches, heartaches and costly repairs. Here are some easy fixes you can do to minimize the occurrence and water damage.

1. Fit water alarms. They work like smoke detectors but warn of leaks from toilets, water heaters, overflowing baths and sinks. Simply place near any water source and a high pitched alarm alerts you to water leaks. From as little as $15 a unit.
2. Install stainless-steel braided hoses where possible, they are only about $20 and less likely to deteriorate than plastic hoses. Dishwasher and washing machine hoses should be inspected and replaced every 3-5 years.
3. Use a rain barrel. It keeps rainwater out of overloaded storm sewer infrastructures and provides you with water for your garden. Check if your municipality has a program that offers subsidies for a rain barrel purchase.
4. Bathroom caulking prevents leaks around fixtures, and must be checked regularly. Caulking costs less than $5 and is an easy D-I-Y project that can prevent costly repairs to surrounding walls and cabinets.
5. Connect an eavestrough downspout extension. Extend it at least 6 feet from foundation walls to prevent water from draining into your basement, and direct it towards the street. Downspout extensions cost around $15.

Safeguarding your home against disaster can prevent expensive, troublesome and time-consuming repairs. It gives you peace of mind during winter thaw and heavy rains, and ensures your home and family is protected.