Welcome to the blog section. In this blog I’ll be posting about what is happening around my neighbourhood (Yaletown & False Creek North), Vancouver luxury real estate, real estate and related issues. If you have any suggestions, please let me know, have fun.
A re-development project to convert the Roundhouse Plaza into an outdoor entertainment venue that can hold 500-750 people for concerts and other activities has received funding. This will lead to excess noise in the neighbourhood.
The Roundhouse Community Centre “Turntable” Plaza will be undergoing reconstruction to transform it into an outdoor performance space for concerts, theatre and other community activities such as farmer’s markets. This initiative is being undertaken by the Roundhouse Community Association with Federal Infrastructure Stimulus Funding.
If you are concerned about excess noise that will be generated by concerts being held in this venue, write or email your Parks Board Commissioner. Send your correspondence to:
An open house will be held on September 9, 2010 from 6pm to 8pm where you can get more information.
The enclosed information while deemed to be correct is not guaranteed.
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Then you should attend the False Creek Residents Association Annual General Meeting. At the meeting Aquilini Development and Canadian Metropolitan Properties will present their proposals for the development of the Plaza of Nations and the site surrounding the Rogers Arena. There will be an opportunity for dialogue with the developers and architects.
Where/When:
September 8, 2010 from 6 to 9pm.
Telus World of Science Theatre, 1455 Quebec Street, Vancouver, BC.
The enclosed information while deemed to be correct is not guaranteed.
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Take a video tour of Esprit City Club in Vancouver, BC. This video tour is intended for residents and prospective residents of Coopers Lookout, Flagship, Mariner and Coopers Point.
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Location 901 Mainland Street (@ Nelson Street) About the Park
Neighbourhood Yaletown/Downtown
Yaletown Park was designed as an urban gathering space built atop public underground parking. The 0.4 acres of public space is paved with granite blocks studded with curving pieces of old granite curbs for informal seating under a canopy of ornamental flowering trees. Screens overgrowing with vines line the border with Nelson Street.
The park was created in partnership between the City of Vancouver and developer Bruno Wall (Yaletown Park Condominiums Properties). Wall contributed the property and paid $0.5 million which represents half the park construction cost, with the City paying the balance out of Downtown South development cost levies. Park design was by landscape architects Durante and Kreuk Ltd. T. Moscone & Bros. Landscaping Ltd. was the general contractor.
The sculpture currently on display is part o the Vancouver Biennale which is a bi-annual public art exhibition that brings sculptures, new media and performance works by celebrated and emerging international artist to Vancouver are public parks, beaches and urban plazas, transforming the city into an open-air museum.
The title of this art work is ErosBendato Scripolato, by Igor Mitoraj’s, it is based on classical sculpture. Dimensions: 2.25m high, 2.9m long, 1.37m wide. Weight: 2,000 kg. Material.
You can have a cup of coffee at the Starbucks and enjoy the park and the sun from the deck.
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The results from a July survey conducted by Trulia and Harris Interactive suggest that after a long trend toward wanting larger homes, American tastes may be moving in the opposite direction.
Americans are veering away from the “McMansions” that had grown popular before the recession. Those American adults for whom home ownership is part of the American Dream displayed a preference for smaller homes, with only 9 percent saying their ideal home size is more than 3,200 square feet– the same number of who said they’d like their home to be between 800 and 1,400 square feet. Fifty-five percent of Americans would prefer a home between 1,401 and 2,600 square feet.
But what about the luxury market? "Small luxury" is nothing new. There has long been a segment of the market looking for "small luxury," particularly with modernist homes. We also saw a luxury downsizing trend that started to appear towards the end of the recent boom.
Though this trend will likely be most evident in new home construction, it will be interesting to see how this plays out in the luxury market in general.
What do you think? Are you seeing this in you luxury markets?
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With our banks and financial markets often offering less certainty, lower returns, and higher perceived risk, the affluent are increasingly looking for tangible assets in which to invest their cash.
Why is it that the art market appears to be immune from the turmoil in almost every other sector of the global economy? "It is simple," says David Nahmad, one of the world's most famous art dealers. "A lot of investors are distrustful of equities. They are terrified of cash that pays 0% at the bank and is threatened by the 'great inflation' lying one to two years ahead..."
The key word in this analysis is "masterpieces". It is not that the art market is immune to asset bubbles and over-valuation. Speculative sectors, such as the contemporary Indian art market became in the 2000s, suffered a shake-out in the wake of the credit crunch. But buyers always seem able to stump up the cash when the best works of so-called "blue-chip" artists comes on sale.
Interestingly, the same is often true for real estate.
The enclosed information while deemed to be correct is not guaranteed.
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Remember that this Sunday August 15 (originally to be held last weekend, but cancelled due to rain) is the Roundhouse picnic and movie night both at David Lam Park.
If you feel like walking you can go to the Floata Vancouver Chinatown Night Market, located at Keffer and Main Street. Runs every Friday, Saturday and Sunday, from 6:30pm until 11:00pm. Until September 5th.
21 luxurious one and two bedroom residences on the corner of Robson and Nicola.
A boutique style concrete low-rise, where contemporary sleek elegance meets green sustainable design, SPICE inspires a well-balanced life, with all of the pleasures and amenities downtown Vancouver has to offer!
Currently under construction, pre-sale coming soon. Expected completion Fall 2010.
The enclosed information while deemed to be correct is not guaranteed.
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When you’re ready to buy or sell Vancouver real estate, contact Manny Riebeling
A six-bedroom, two-floor penthous e in the One Hyde Park development in Knightsbridge, London has sold for £140 million -- equivalent to around $220 million -- making it the world's priciest apartment sale, according to Holiday Lettings, a British real estate website. The buyer, who was not disclosed, will enjoy views of the London skyline, private wine tasting facilities and top security features which include bullet-proof windows and a panic room. The property also has tunnel access to the Mandarin Oriental Hotel and its 24-hour room service. One Hyde Park was designed by Sir Richard Rogers' architectural firm Rogers Stirk Harbour. In 2004, the site was acquired by developers Nick and Christian Candy for £150 million, or close to $235 million. The recent sale dwarfs the previous purchase price record for Britain held by an apartment in Westminster's 8 St. James' Square, which sold for £115 million -- or $180 million -- in 2008. By comparison, the most expensive home in the United States is the Manor in Holmby Hills, Calif., a $150 million, 56,500-square-foot mansion owned by Aaron Spelling's widow, Candy, according to Overseas Property Mall. The 4.6-acre California property features a library, gym, bowling alley, wine cellar, gift-wrapping room and media room. The grounds have pools, gardens, a waterfall, and parking for over 100 cars.
The variable mortgage discount is better than ever! You can get as low as prime – 0.70% (must qualify) while the current prime rate is 2.75% trending up from 2.25% from 6 months ago. I am suspecting another 0.25% increase in the September 8th announcement due to the Canadian and US currency. It’d be a 50/50 chance. The fixed rates have also decreased slightly below 4% for 5 year fixed rates. The overall interest rates will be trending up, so if you’re buying a home, don’t forget to lock your rate now!
A few other interesting articles and news:
Top 10 Cities to Invest in Canada – The Real Estate Investment Network (REIN) research, again featured on last week’s Financial Post. Let me know if you’d be interested in reading the entire REIN report. I will send you one.
Employment Loss and Gain – In July, BC gained 16,000 jobs in manufacture and services, while Canada overall lost net 9300 full time positions. Economists commented expected slower economy recovery from the initial 2009 jump. BC and Alberta are the only two provinces with a net gain in employments, which is good news to us. Read more here.
Article courtesy of Christine Chien, Mortgage Professional, 604-603-6189, www.BestRateMortgage.com
The enclosed information while deemed to be correct is not guaranteed.
Search for listings on your own Virtual Office Website (VOW), sign up for a FREE subscription and receive listings before mls.ca, in Full Public Printout. search by address, MLS#, street, view walkscore or using your iPhone, Android or iPad.
Keep up to date with Vancouver’s changing real estate market, subscribe via RSS or email
When you’re ready to buy or sell Vancouver real estate, contact Manny Riebeling
If you live at the Aquarius complex (198 Aquarius Mews, 189 Davie St., 1199 Marinaside Crescent or 1111 Marinaside Crescent), you are invited to the Staff Appreciation Party this coming Friday, august 13th from 5-8pm in the lagoon area.
There will be hamburgers, hotdogs & non-alcoholic beverages.
If you will be attending, please advise the concierge by August 6th. If you wish to bring food, such as salad or dessert, please also advise the concierge either in person or by phone at 604-646-0607.
See you there :)
The enclosed information while deemed to be correct is not guaranteed.
Search for listings on your own Virtual Office Website (VOW), sign up for a FREE subscription and receive listings before mls.ca, in Full Public Printout. search by address, MLS#, street, view walkscore or using your iPhone, Android or iPad.
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Ready to say goodbye to the right turns while driving along Hornby Street?
First it was the Burrard Bridge, then Dunsmuir Street now is the time for Hornby Street and it looks like there could be another separated bike lane on the way for Comox Street.
What are separated bike lanes?
Separated bike lanes are routes where cyclist are physically separated from traffic by a barrier. The lanes create more protection and make cyclists feel safer – especially less experienced riders – and encourage more people to get out of their cars and onto bikes into downtown Vancouver.
Why Hornby Street?
Hornby Street offers the best option, including having a safe route that isn’t a major bus or truck route, among other factors.
The enclosed information while deemed to be correct is not guaranteed.
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July 31, 2010 -- Mexican mogul Carlos Slim, who ranks number one on this year’s list of Forbes billionaires, has purchased the Duke-Semans Mansion on Fifth Avenue in Manhattan for $44 million, according to the The Wall Street Journal. The sale set the fourth highest price ever paid for a townhouse in NYC. By comparison, the most expensive home sale finalized this year in Vancouver was the sale of 3639 Osler St. in Vancouver West (Shaughnessy) for $11,080,000.
Located on Fifth Ave and 82nd Street in New York’s Upper East side (directly across from the Metropolitan Museum of Art), the turn of the century beau arts townhouse is not expected to be home to the world’s richest man. Instead, Slim’s spokesperson is quoted as saying that the billionaire purchased the home as an investment.
The former owner, Tamir Sapir, whose rags-to-riches story took him from taxi driver to real estate wheeler dealer, purchased the house in 2006 for a reported $40 million and listed it for sale in January for $50 million.
Earlier this year, Slim also purchased a $140-million New York City office tower. In addition, he has invested in both The New York Times Co. and New York-based retailer Saks Fifth Avenue.
“The sale of the Duke-Semans mansion is another indication that the U.S. trophy home market remains alive,” said Laurie Moore-Moore, founder of The Institute for Luxury Home Marketing, based in Dallas. “This April, Texas Energy executive Kelcy Warren purchased a Colorado property for $46.5 million. Then, hot on the heels of this transaction, an un-named Indonesian buyer contracted for a Bel-Air mansion for a something close to $50 million,” added Moore-Moore. “These transactions illustrate that the wealthy view residential real estate as not only lifestyle purchases, but also as smart additions to their investment portfolios.”
Manny Riebeling, a member of The Institute for Luxury Home Marketing and a real estate professional with Sutton West Coast, says that although these recent sales exceed $40 million each, they are substantially below the price of the most expensive home listed in the Vancouver. The widow of producer Aaron Spelling is marketing her residence in the exclusive Holmby Hills neighborhood of Los Angeles for a jaw-dropping $150 million. “By contrast, the most expensive home for sale locally is listed at $25,000,000, said Riebeling.
A Roundhouse and Yaletown Business Improvement Association Special Event Sun August 8th Picnic - 12:00pm-4:00pm Movie - @dusk (9pm) FREE Admission David Lam Park
Musical Performances by: Andrea SUPERstein Quartet & Paul Talbot Mattias Boon - Hip Hop/breaking demo and workshop Yoga with Lori Lucas Melanie Osmack from Fit4Two Nursing/baby change station Family Soccer Tournament BBQ - Hot dogs and Veggie dogs Condiments and Juice for a fair price! Sidewalk chalk art on the sidewalk in the park Face painting station.
Pack a lunch, shake out the picnic blanket and come on down to celebrate summer with free music, entertainment, dancing and games. It will be a day of relaxed fun and a chance to hang out in the park with family and friends while getting to know your neighbours. Come back in the evening and enjoy the free outdoor movie. www.yaletowninfo.com
Home sales activity in Greater Vancouver was quieter last month than most Julys over the past decade, with residential sales, prices, and the number of homes listed for sale trending downward in recent months.
The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totalled 2,255 in July 2010. This represents a 45.2 per cent decline from the 4,114 sales in July 2009, the highest selling July ever recorded, and a 24.1 per cent decline compared to June 2010.
Looking back further, last month’s residential sales represent a 3.7 per cent increase over the 2,174 residential sales in July 2008, a 41.8 per cent decline compared to July 2007’s 3,873 sales, and a 17.5 per cent decline compared to July 2006’s 2,732 sales.
“With the pace of home sales and listings easing off in our market, we’ve begun to see a levelling of home prices from the record highs seen in the spring, creating greater affordability,” Jake Moldowan, REBGV president said. “Activity in today’s marketplace is clearly trending in favour of buyers.”
The number of properties listed for sale on the market has been trending downward since spring, with 4,138 new listings in July compared to April’s peak of 7,648. New listings for detached, attached and apartment properties in Greater Vancouver on the Multiple Listing Service® (MLS®) declined 17.9 per cent in July 2010 compared to July 2009, when 5,041 properties were listed for sale.
At 16,431, the total number of property listings on the MLS® in July declined 6.5 per cent compared to last month and increased 33 per cent compared to July 2009.
“It’s currently taking home sellers who work with a REALTOR®, on average, 45 days to sell their property, which is a historically healthy timeframe for people on both sides of a transaction,” Moldowan said.
Since spring, housing prices have decreased 2.8 per cent compared to the all-time high reached in April when the residential benchmark price was $593,419. Over the last 12 months, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 9.1 per cent to $577,074 in July 2010 from $528,821 in July 2009.
Sales of detached properties in July 2010 reached 908, a decrease of 43.7 per cent from the 1,614 detached sales recorded in July 2009 and a 9.8 per cent increase from the 827 units sold in July 2008. The benchmark price for detached properties increased 11.5 per cent from July 2009 to $793,193.
Sales of apartment properties reached 979 in July 2010, a decline of 42.7 per cent compared to the 1,708 sales in July 2009 and an increase of 1.3 per cent compared to the 966 sales in July 2008.The benchmark price of an apartment property increased 6.2 per cent from July 2009 to $387,879.
Attached property sales in July 2010 totalled 368, a decline of 53.5 per cent compared to the 792 sales in July 2009 and a 3.4 per cent decline from the 381 attached properties sold in July 2008. The benchmark price of an attached unit increased 8.6 per cent between July 2009 and 2010 to $490,995.
To download full stats package, please click on image.
The enclosed information while deemed to be correct is not guaranteed.
Search for listings on your own Virtual Office Website (VOW), sign up for a FREE subscription and receive listings before mls.ca, in Full Public Printout. search by address, MLS#, street, view walkscore or using your iPhone, Android or iPad.
Keep up to date with Vancouver’s changing real estate market, subscribe via RSS or email
When you’re ready to buy or sell Vancouver real estate, contact Manny Riebeling
The enclosed information while deemed to be correct is not guaranteed.
Search for listings on your own Virtual Office Website (VOW), sign up for a FREE subscription and receive listings before mls.ca, in Full Public Printout. search by address, MLS#, street, view walkscore or using your iPhone, Android or iPad.
Keep up to date with Vancouver’s changing real estate market, subscribe via RSS or email
When you’re ready to buy or sell Vancouver real estate, contact Manny Riebeling
The enclosed information while deemed to be correct is not guaranteed.
Search for listings on your own Virtual Office Website (VOW), sign up for a FREE subscription and receive listings before mls.ca, in Full Public Printout. search by address, MLS#, street, view walkscore or using your iPhone, Android or iPad.
Keep up to date with Vancouver’s changing real estate market, subscribe via RSS or email
When you’re ready to buy or sell Vancouver real estate, contact Manny Riebeling
Great location, North of 4th, steps to beach, Tennis & Yacht Clubs at Jericho Beach & 4th Avenue shops & restaurants. High ceiling, granite countertops,...
