Many people are asking these days how is the market? But what they really want to know is, are we going to see the big correction? Are prices going to drop?
At the moment, the basic economic principals of supply and demand have the market continuing to be robust. More people are looking to buy than the current supply can handle so we are continuing to see prices rise. The recent election could change these factors however, we will have to wait and see how that all finalizes before we will see how it may impact real estate.
When we talk about “The Market,” we really need to get specific. Detached homes on the Westside in Dunbar for example are moving along at a surprisingly brisk pace and selling better than higher end homes in Burnaby for a million dollars less. Condo’s downtown or well anywhere in Metro Vancouver are on fire! We continue to see multiple offers in that segment of the market. Areas and types of homes are wide ranging so you really need to get specific when you are asking; “How is the market?”
The media and speculation around real estate has been a hot topic for years. But as I said above it’s very important to look at the fundamentals of the market. For this reason, be careful of what you hear in the media. Often, they will take information on a broad level and apply it to “the market.” Here is an example, while the demand for Condo’s and Townhomes continues to drive the Metro Vancouver Rea Estate Market. Sales in April for Condos and Townhomes were down 25.7% when compared to last year. That doesn’t sound good, does it? We need more context! Last year was a record year so it not necessarily the best year to compare any other average year against. When you look at the bigger picture our sales are actually 4.8% higher than the ten-year average or what you could say, is more typical. What does this all mean? While we are not keeping pace with the record level of last year it is still an active market and stronger than your typical market over the last ten year. That is not nearly as dramatic as a 27% drop that people want to be talking about or what the media would like to portray.
If you would like to avoid hyperbole and get more context and information on your situation, now is not at all a bad time to be selling and I would be happy to sit down and talk about your specific needs or questions. We also have been using some new strategies for buyers in a challenging market that are having success as well so we would be happy to share what that look like.
Convenient location steps to Yaletown, Gastown, Robson St, Seawall, & Skytrain station. This classy building has amazing features including: a gym, sauna, steam room, hot tub, party room, & theatre room. The open floor plan and convenient flex space give this unit versatile options as to how the space is used. This investment property is leased until the end of March 31 2018, so investor buyers only. Great tenant paying $1800. Turn key investment opportunity. 1 parking included, peek a boo view and amazing location make this a very easy rental. Pets allowed up to 25 pounds. Showings by appointment please allow notice.
This bright top floor unit has is the perfect starter home. Complete with generous sized rooms and balcony. The large laundry room offers lots of storage, and open living room and the kitchen is perfect for entertaining. Amenities include a clubhouse and outdoor swimming pool. Very well managed complex. Close to SFU, schools, Lougheed Mall and Skytrain! Pet-friendly strata with no size restrictions for dogs, and with a greenbelt across the street there are plenty of good walking trails. This is a very warm and friendly community that is welcoming to all. Sneak Peek open Thurs. Mar. 30th 5-6pm. Open Sunday 2-4pm. Call for an appointment today!
This home is classy with vaulted ceilings and warm electric fireplace keeping you comfortable and content. All you have to do is move in as many of the homes features have been updated, engineered maple hardwood floors, newer counter
tops, a bathroom to die for w/ double shower heads and radiant flooring. The open and functional layout does not waste any space. This home comes with a convenient, large storage locker & parking spot. Sorry no pets. Fabulous location, transit one block up or over. Granville Island and the shops on 4th & Broadway are just around the corner. Walking score of 99! A great place to call home, call for a showing today!
Are you looking for a comfortable family home in a great community? This completely renovated home is turn key move-in-ready. The private and spacious (360sq.ft) fenced patio has a private entrance and is great for entertaining, a fun safe place for kids or a potted garden. The home is kept cozy with a newer furnace, and dbl glazed windows. The Chef in your family will love the kitchen and its custom cabinets, stunning granite counters and designer glass mosaic tile backsplash. Life is easy with transit and schools blocksaway and shopping is conveniently right around the corner with Lougheed mall very close by. 2 pets (dogs/cats) and there are great walking trails close by. Sneak peak open house Thur 5-6, Sat 2-3pm Sun 3-4pm
Sophisticated downtown living at its finest! This unit will WOW you with its large patio, open concept living and tons of room for storage. The den is not just a flex space and the dining area is bright and comfortable. Updated floors with beautiful tile and walnut hardwood along with a newer dishwasher put the crowning touches on a gourmet kitchen with SS
appliances, granite counters and gas cook-top. This convenient location makes life easy with shopping, transit, entertainment
and the sea wall all just steps away. Not only is there a custom walk-in closet but the unit has 2 storage lockers and 1 parking stall.
Pets and rentals allowed
This recently renovated home with generous sized rooms is comfortable and inviting. The home has plenty of storage and a great outdoor patio space to extend your living area in nice weather. Tucked away just off of Broadway and Burrard this convenient location has you close to shopping, recreation or downtown in no time. The building is well run by a proactive strata and has a great sense of community. Pets and rentals are allowed but restricted. The home comes with one parking spot and one storage locker. Bike storage and the unit is on the bike lane.
Greg recently volunteered 200 hours, over a two-year period with People Power for Playgrounds. This incredible organization set out to build a fully accessible public playground for his community in Vancouver’s Eastside. Working with dedicated volunteers and the Little Mountain House Society, Power for Playgrounds collaborated to raise $167,000 to build their playground through Public Open Houses, Community events such as a Pumpkin giveaway and Car Free Day, Canvasing the neighbourhood and hosting Fundraising Galas. Through this work, Greg was thrilled to find out he was nominated and received the Good Neighbours Award from the Association of Neighbourhood Housing of BC. This award is given to a person with a strong passion for enriching local community, and Greg was honored to win this award.
Team Andruff is so proud of Greg and what he has accomplished in his ongoing work with the community. We can’t wait to see how things go with his next endeavor for the Food Bank this Winter! #beyondtheballoon
This past weekend we held our annual Pumpkin Patch event at the Total Education Center in East Vancouver. There were pumpkins to carve or decorate, crafts to create and some sweet treats too! And to top it all off, the sun ended up coming out! A great time was had by all! Team Andruff thanks everyone for attending, and look forward to seeing you all again next year!
LOFT, a unique space with 16 foot high ceilings. The open and smart deign leave room for extra storage and a den. LOCATION, conveniently located home, close to shopping, transit, and all that downtown has to offer. LIFESTYLE, this 14th Floor sky-loft has bright soaring windows! The current owner updated some appliances and painted and updated the floors 2 years ago. This building has great amenities including a gym, 360-degree view from the common rooftop deck, a second patio BBQ area and party room. INVESTOR ALERT! Reasonable Strata Fees, Rentals and Pets allowed. Current tenant would love to stay and is on a month -month lease.