Stu Bell (www.stubell.com) : Blog

Government Announces New HST/PST Housing Transitional Rules

Stu Bell — Sun, 19 Feb 2012 11:08:41 -0800

February 17, 2012

Government announces new HST/PST housing transitional rules

The government today announced the HST/PST transitional rules on new homes.

As the province transitions back to the PST, which will replace the HST effective April 1, 2013, measures to ease the HST burden on new home buyers include:

The BC New Housing Rebate threshold will increase to $850,000 from $525,000, so that more than 90% of newly built homes will now be eligible for a provincial HST rebate effective April 1, 2012.
The maximum rebate will increase to $42,500 from $26,250 effective April 1, 2012.
Buyers of new secondary vacation or recreational homes outside the Greater Vancouver and Capital Regional Districts priced up to $850,000 will now be eligible to claim a provincial grant of up to $42,500 effective April 1, 2012.
For newly built homes where construction begins before April 1, 2013, but ownership and possession occur after, purchasers will not pay the 7% provincial portion of the HST. Instead, purchasers will pay a temporary, transitional provincial tax of 2% on the full house price.

HST/PST transition rules will help ensure that whenever purchasers buy a new home they will all pay a consistent and equitable amount of tax, whether the home is built:

entirely under the HST;
entirely under the PST; or
partly under HST and partly under the PST.

The temporary housing transition measures will be in place until March 31, 2015. The tax only applies to homes where construction begins before the transition date and ownership and possession occur after.

REBGV successfully advocated for the following:

An increase in the threshold value of homes to be covered by the rebate;
An increase in the rebate amount;
An announcement of the transition rules for new homes as early as possible.

The BC Real Estate Association plans to provide Boards with a list of FAQs and draft contract language that REALTORS® can use in their listing agreements and contracts of purchase of sales contracts. We will post these on www.realtorlink.ca and in REALTORLink News.

For more information, visit the BC Ministry of Finance at: www.pstinbc.ca

To read the Ministry of Finance announcement: www.newsroom.gov.bc.ca/2012/02/transition-measures-support-new-home-buyers-builders.html

902 628 KINGHORNE MEWS, Vancouver West, British Columbia

Stu Bell — Thu, 16 Feb 2012 10:57:17 -0800

I just sold this Condo at 902 628 KINGHORNE MEWS, Vancouver West, British Columbia Yaletown.

View this recently sold Condo or see all my home sales

6994 Hycroft Rd, West Vancouver, BC

Stu Bell — Thu, 16 Feb 2012 10:57:07 -0800

I just sold this Luxury Home at 6994 Hycroft Rd, West Vancouver, BC Whytecliff Park.

View this recently sold Luxury Home or see all my home sales

208 550 17TH Street, West Vancouver, British Columbia

Stu Bell — Wed, 15 Feb 2012 17:54:50 -0800

I just sold this Condo at 208 550 17TH Street, West Vancouver, British Columbia Ambleside.

View this recently sold Condo or see all my home sales

Pemberton Heights Open House!

Stu Bell — Sat, 11 Feb 2012 09:59:47 -0800

We are proud to announce that this Feb 19th, 2:00 PM to 4:00 PM we will be hosting an Open House at 1374 PLATEAU Drive in the Pemberton Heights neighborhood, North Vancouver. This is an opportunity to visit this excellent House for sale in beautiful Pemberton Heights.

Please come with any questions you may have. In the meantime you can take a virtual tour of this Pemberton Heights House for sale.

As always please do not hesitate to give me a call at 604.562.0532 if I can answer any questions before the open house, or if you would like to book a private showing.

Stu Bell
West Vancouver

Pemberton Heights Open House!

Stu Bell — Sat, 11 Feb 2012 09:58:33 -0800

We are proud to announce that this Feb 14th, 10:00 AM to 12:00 PM we will be hosting an Open House at 1374 PLATEAU Drive in the Pemberton Heights neighborhood, North Vancouver. This is an opportunity to visit this excellent House for sale in beautiful Pemberton Heights.

Please come with any questions you may have. In the meantime you can take a virtual tour of this Pemberton Heights House for sale.

As always please do not hesitate to give me a call at 604.562.0532 if I can answer any questions before the open house, or if you would like to book a private showing.

Stu Bell
West Vancouver

208 550 17TH Street, West Vancouver, British Columbia

Stu Bell — Fri, 10 Feb 2012 09:54:40 -0800

I just finished uploading this Condo for sale, 208 550 17TH Street, West Vancouver, British Columbia

The "Hollyburn" designed by Paul Merrick, 13 units of concrete & steel, 2 levels, 2 bedrooms & den, 3 baths, sweeping views from Lions Gate Bridge to UBC. 18' vaulted fir ceilings & exposed beams, gas F/P, stainless steel appliances, Grohe faucet, granite counters, the spacious master suite with a spa-like bath & private terrace, 2 parking, huge storage locker. PUBLIC OPEN: Saturday October 8th, 2-4 PM.

1374 PLATEAU Drive, North Vancouver, British Columbia

Stu Bell — Wed, 08 Feb 2012 10:08:14 -0800

I just finished uploading this House for sale, 1374 PLATEAU Drive, North Vancouver, British Columbia

Spacious Pemberton Heights family home on 3 levels w/ a superb floor-plan, privacy, new roof, & south facing exposure. Grand main level w/ open family room, updated kitchen, formal dining room, stunning river-rock f/p, powder room, laundry room, office, rec-room, & formal living room w/ 20' vaulted ceilings! 3 bedrooms, 2 bathrooms up & a bright & open 2 bedroom 2 bathroom suite down with separate entrance, private laundry, and full kitchen for in-laws or use as a healthy mortgage helper. Extra storage & parking in the detached 2 car garage and large carport with private lane access. Beautiful tree-top outlook over North Vancouver's most desirable neighborhood within walking distance to Capilano Elementary (IB Program), the famous Corner Store, as well as Edgemont Village. Very well maintained home with custom river rock wood burning fireplace and brand new roof! Superb value in a convenient, family-orientated, and sought-after location. Call Stu Bell for an exclusive showing.

Whytecliff Park Open House!

Stu Bell — Fri, 03 Feb 2012 18:21:39 -0800

We are proud to announce that this Feb 4th, 2:00 PM to 4:00 PM we will be hosting an Open House at 6994 Hycroft Rd in the Whytecliff Park neighborhood, West Vancouver. This is an opportunity to visit this excellent Luxury Home for sale in beautiful Whytecliff Park.

Please come with any questions you may have. In the meantime you can take a virtual tour of this Whytecliff Park Luxury Home for sale.

As always please do not hesitate to give me a call at 604.562.0532 if I can answer any questions before the open house, or if you would like to book a private showing.

Stu Bell
West Vancouver

1355 Sinclair, West Vancouver, BC

Stu Bell — Fri, 03 Feb 2012 16:11:03 -0800

I just finished uploading this Luxury Home for sale, 1355 Sinclair, West Vancouver, BC

Enjoy turn-key low maintenance living in this gorgeous contemporary home nestled inbetween Dundarave and Ambleside for an ultra convenient, peaceful, & enviable lifestyle. Featuring architecturally dramatic features and an inviting open plan design. 3 bedrooms, laundry room, & 2 baths up with a grand master plus walk in closet, heated ensuite & claw-foot tub, and a private south facing patio. 1 bedroom on the main with two and one-half bathrooms, a grand family/rec room, and an outstanding, sun drenched patio and swimming pool for entertaining and relaxing in complete privacy. Short walk to schools, seawall, Marine Dr, parks, and the new recreation centre. Modern kitchen with new stainless steel appliances & french doors leading onto the pool deck. Completely renovated with taste and quality by Cragg Built Construction.

410 1330 MARINE Drive, North Vancouver, British Columbia

Stu Bell — Mon, 30 Jan 2012 22:06:37 -0800

I just sold this Condo at 410 1330 MARINE Drive, North Vancouver, British Columbia Norgate.

View this recently sold Condo or see all my home sales

North Shore & Vancouver Real Estate Market Heating Up!

Stu Bell — Mon, 30 Jan 2012 16:45:11 -0800

After a sluggish first few weeks to 2012, it appears that Chinese New Year has ignited the Vancouver & North Shore Real Estate Markets.

There has been 38 detached sales in North Van (217 Active Listings), 61 in Vancouver West (793 Actives), & 27 in West Vancouver (390 Actives). Since just before Chinese New Year Mid January 15th we have seen 19, 31, & 13 respectively with many being multiple offer sales selling for over asking within days of listing.

Five examples are 2347 Lawson in Dundarave West Vancouver. Listed for $2,388,000 and sold for $2,588,000 in the same day. 3062 Mathers Ave in Altamont West Vancouver listed for $2,998,000 and sold for $3,421,000 in 7 days. 4340 Highland Boulevard in Forest Hills North Vancouver listed for $870,000 and sold for $1,055,376 in 2 days. Of the last 11 sales in North Van, 8 sold within 9 days and 4 sold for over asking. 1816 Western Parkway BB in The University Vancouver West district listed for $4,288,000 and sold for $4,500,000 in 8 days. 4018 W 34th in Dunbar Vancouver West listed for $2,198,000 and sold for $2,380,000 in 6 days. Of the last 12 sales in Vancouver West, 11 have been within 10 days and 7 have been for over asking!

It appears the trends of 2011 are picking up again with Mainland Chinese Buyers bidding up the price for houses and land primarily for investment purposes. Correctly marketing your home to Chinese Buyers with Feng Shui taken into serious consideration can help you sell for hundreds of thousands more. Remember it's not what you list for but what you SELL for.

The attached market hasn't seen the recent ignition the detached market has, but sales in 2012 have been steady with 146 sales in the Vancouver West side, compared to 1731 active listings, with the highest being the PH at Lumiere selling for $4,200,000 and a PH at The Jameson House selling for $3,170,000. In West Vancouver, there are 112 active listings and there have been 10 sales, the highest being unit #1 t The Argyle selling for $3,500,000. In North Vancouver there have been 48 sales vs 431 active listings. Top selling attached apartment has been a duplex in Central Lonsdale, 204 E 19th listed for $1,058,000 and sold for $1,060,000.

All in all a very active start to 2012 driven by low interest rates of 2.95% 4 year fixed and 2.80% variable and Chinese investors who seem to have just started buying again after Chinese New Year, attracted by BC's economy, beauty, schools systems, proximity to China, and low vacancy rates/high rental rates.

If you are thinking of Buying or Selling in 2012 make sure you List and Buy with a Realtor you trust, who will work as hard as you expect and deserve, and with a Realtor that knows the market you are interested in. I study West Van, North Van, Downtown Vancouver, and the Vancouver West Side daily, and have been fortunate enough to live in all these regions developing valuable local knowledge for top schools, desirable communities, and nearby amenities in every Vancouver neighborhood.

With 55 sales in 2.5 years and counting, I am driven, hard working, and passionate about Real Estate & would be honored to be you REALTOR.

902 628 KINGHORNE MEWS, Vancouver West, British Columbia

Stu Bell — Sun, 29 Jan 2012 13:02:16 -0800

I just finished uploading this Condo for sale, 902 628 KINGHORNE MEWS, Vancouver West, British Columbia

EXCLUSIVE RESIDENCE AT SILVER SEA. A home that could grace the pages of any high-end interior magazine. Completely redesigned and entirely newly appointed with the highest caliber of finishing and material. Design executed by the famed ROBERT BAILEY INTERIORS. Clean contemporary aesthetic, which features a custom kitchen with solid wood millwork,high-end appliances & exacting design specification. Solid walnut hardwood flooring throughout, extensive use of Carrera marble in all baths, Dornbracht fittings, Italian lighting, custom focal gas F/P, a gorgeous free standing bath tub in master and separate steam shower. Privacy and sensational vistas from all vantage points offering unobstructed, direct ocean front views of the marina, False Creek and Granville Island. Enjoy over 200 sf of outdoor living with terrace and balcony areas. Silver Sea, quality boutique building comprising of only 31 and direct elevator service to your home. This is outstanding waterfron res.

Top 26 Grants & Rebates for Property Buyers & Owners for 2012!

Stu Bell — Tue, 24 Jan 2012 11:00:41 -0800

I was priveledge to have Jeff Martin from Energuy Inc over today to do an Energy Efficiency Evaluation Report of my home. While I wasn't too thrilled with the results, it was a fascinating experience and the money I will save in energy plus the money I will save in Rebates was well worth the exercise.

Jeff's visit prompted me to look into further how home owners can save energy and money from Government grants and programs and I compiled the TOP 26 grants and rebates for Vancouver Real Estate in 2012.

The Top 5 are the most common and also the most financially rewarding rebates to be aware of, the remainder are more specific but very interesting for residential and commercial real estate in Vancouver. These grants can be Municipal, Provincial, Federal, or all 3, so do your research and save more money! Carefully review the following government grants & rebates and don't wait as many of them expire on March 31st 2012.

The BC government helping homes become greener and more affordable, another reason I am so proud to be a British Columbian!

I have and will be utilizing points 12,14,15,16,17, & 25 on my own home, saving me up to $2200 in energy efficient grants!
To book your Energy Efficient Evaluation with Jeff Martin call 778-233-4035.

1. Home Buyers Plan
Buyers can withdraw up to $25,000 from their RRSP, couples can draw $50,000 for their downpayment. Visit www.cra.gc.ca for more info and search Home Buyers Plan.

2. GST Rebate on New Homes
New Home Buyers get up to 36% or $6,300 back from the 5% portion of HST for purchases under $350,000 and a proportion for homes under $450,000. Visit www.cra.gc.ca and search RC4028 for more info.

3. BC New Housing Rebate (HST)
Buyers of new or substantially renovated homes priced up to $525,000 are eligible for a rebate of 71.43% of the provincial portion (7%) of the 12% HST paid to a maximum rebate of $26,250. Homes priced at $525,000+ are eligible for a fat rebate of $26,250. www.hstinbc.ca/making_your_choice/faqs/new_housing_rebate

4. BC New Rental Housing Rebate (HST)
Landlords buying new or substantially renovated homes areeligible for a rebate of71.43% of the provincial portion of the HST, up to $26,250 per unit. www.hstinbc.ca/making_your_choice/faqs/new_housing_rebate

5. BC Property Transfer Tax (PTT)
First Time Home Buyers’ Program Qualifying frst-time buyers may be exempt from paying the PTT of 1% on the frst $200,000 and 2% on the remainder of the purchase price of a home priced up to $425,000. There is a proportional exemption for homes priced up to $450,000. BC Ministry of Small Business and Revenue www.rev.gov.bc.ca/rpt

6. First-Time Home Buyers’ Tax Credit (HBTC)
This federal non-refundable income tax credit is for qualify-ing buyers of detached, attached, apartment condominiums, mobile homes or shares in a cooperative housing corporation. The calculation:multiply the lowest personal income tax rate for the year (15% in 2010) x $5,000. For the 2010 tax year, the maximum credit is $750. Canada Revenue Agency www.cra.gc.ca/hbtc

7. BC Home Owner Grant
Reduces school property taxes by up to $570 on properties with an assessed value up to$1,150,000. For 2011, the basic grant is reduced by $5 for each $1,000 of value over $1,150,000, and eliminated on homes assessed at $1,264,000. An additional grant reduces property tax by a further $275 for a total of $845 for seniors, veterans and the disabled. This is reduced by $5 for each $1,000 of assessed value over $1,150,000 and eliminated homes assessed at $1,319,000+. BC Ministry of Small Business and Revenue www.rev.gov.bc.ca/hog or contact your municipal tax offce.

8. BC Property Tax Deferment Programs
Property Tax Deferment Program for Seniors. Qualifying home owners aged 55+ may be eligible to defer property taxes. Financial Hardship Property Tax Deferment Program. Qualifying low-income home owners may be eligible to defer property taxes.Property Tax Deferment Program for Families with Children. Qualifying low income home owners who fnancially sup-port children under age 18 may be eligible to defer property taxes. BC Ministry of Small Business and Revenue www.sbr.gov.bc.ca and enter ‘Property tax deferment’ in the search box or contact your municipal tax offce.

9. Canada Mortgage and Housing (CMHC) Residential Rehabilitation Assistance Program (RRAP) Grants.
This federal program provides fnancial aid to qualifying low-income home owners to repair substandard housing. Eligible repairs include heating, structural, electrical, plumbing and fre safety. Grants are available for seniors, persons with disabilities, owners of rental properties and owners creating secondary and garden suites. www.cmhc-schl.gc.ca/en/co/prfnas/prfnas_001.cfm

10. CMHC Mortgage Loan Insurance Premium Refund
Provides home buyers with CMHC mortgage insurance, a 10% premium refund and possible extended amortization without surcharge when buyers purchase an energy effcient mortgage or make energy saving renovations. www.cmhc.ca/en/co/moloin/moloin_008.cfm#reno

11. Energy Saving Mortgages
Financial institutions offer a range of mortgages to home buyers and owners who make their homes more energy effcient. For example, home owners who have a home energy audit within 90 days of receiving an RBC Energy Saver™ Mortgage, may qualify for a rebate of $300 to their RBC account. www.rbcroyalbank.com/products/mortgages/energy-saver-mortgage.html

12. Low Interest Renovation Loans
Financial institutions offer ‘green’ loans for home owners making energy effcient upgrades. Vancity’s Bright Ideas personal loan offers home owners up to $20,000 at prime + 1% for
up to 10 years for ‘green’ renovations. RBC’s Energy Saver loan offers 1% off the interest rate for a fixed rate installment loan over $5,000 or a $100 renovation on a home energy audit on a fxed rate installment loan over $5,000. For information visit your fnancial institution. www.vancity.com/Loans/BrightIdeas and www.rbcroyalbank.com and in the
search box enter ‘energy saver loan’.

13. LiveSmart BC: Effciency Incentive Program
Home owners improving the energy effciency of their homes may qualify for cash incentives through this provincial program provided in partnership with Terasen Gas, BC Hydro, and FortisBC. Rebates are for energy effcient products which replace gas and oil furnaces, pumps, water heaters, wood stoves, insulation, windows, doors, skylights and more. The LiveSmart BC program also covers $150 of the cost of a home energy assessment, directly to the service provider. www.livesmartbc.ca/rebates

14. BC Residential Energy Credit
Home owners and residential landlords buying heating fuel receive a BC government point of-sale rebate on utility bills equal to the provincial component of the HST. www.sbr.gov.bc.ca/documents_library/notices/HST_Notice_010.pdf or go to Google and and in the search box type in ‘Residential Energy Credit rebate program.’ It is the frst item.

15. BC Hydro Appliance Rebates
Mail-in rebates of $25 - $50 for purchasers of ENERGY STAR clothes washers, refrigerators, dishwashers, or freezers until March 31, 2011, or when funding for the program is exhausted. www.bchydro.com/rebates_savings/appliance_rebates.html

16. BC Hydro Fridge Buy-Back Program
This ongoing program rebates BC Hydro customers $30 to turn in spare fridges in working condition. www.bchydro.com/rebates_savings/fridge_buy_back.html

17. BC Hydro Windows Rebate Program
Pay no HST when you buy ENERGY STAR high-performance windows and doors. This offer is available until March 31, 2011. www.bchydro.com/rebates_savings/windows_offers/current_offers.htm

18. BC Hydro Mail-in Rebates/Savings Coupons
To save energy, BC Hydro offers rebates including 10% off an ENERGY STAR cordless phone. Check for new offers and for deadlines. www.bchydro.com/rebates_savings/coupons.html

19. Terasen Gas Rebate Program
A range of rebates for home owners include a $50 rebate for upgrading a water heater, $150 rebate on an Ener-Choice freplace (both good until March 31, 2011) and a $1,000 rebate for switching to natural gas (from oil or propane) and installing an ENERGY STAR heating system (good until February 29, 2012).

20. Terasen Gas Efficient Boiler Program
For commercial buildings, provides a cash rebate of up to 75% of the purchase price of an energy effcient boiler, for new construction or retrofts. www.terasengas.com and in the search box enter ‘gas efficient boiler program’.

21. City of Vancouver Solar Homes Pilot
This rebate of $3,000 (about 50% of the cost) is for a Vancouver home owner upgrading to a solar hot water system from a gas system. Offered by the City of Vancouver, SolarBC, Terasen Gas and Offsetters on a frst come, frst served basis until March 2011 or until the City reaches its target of 30 solar homes. www.vancouver.ca/sustainability/SolarHomes.htm

22. City of Vancouver Rain Barrel Subsidy Program
The City of Vancouver provides a subsidy of 50% of the cost of a rain barrel for Vancouver residents. With the subsidy, the rain barrel costs $75. Buy your rain barrel at the Transfer Station at 377 W. North Kent Ave., Vancouver, BC. Limit of two per resident. Bring proof of residency. www.vancouver.ca and in the search box enter ‘rain barrel program.’

23. City of Vancouver Greenest City 2020 Pilot Home Energy Loan Program
The City of Vancouver in co-operation with Vancity, FortisBC, BC Hydro and Natural Resources Canada offers access to loans for energy retrofts including heating systems, insulation and air sealing. Loans are at 4.5% fxed rate over 10 years. The program also helps with accessing grants from the federal ecoENERGY program, the provincial LiveSmart BC program and FortisBC. www.vancouver.ca/energyloan

24. Vancity Green Building Grant
In partnership with the Real Estate Foundation of BC, Vancity provides grants up to $50,000 each to qualifying charities, not-for-proft organizations and co-operatives for projects which focus on building renovations/retrofts, regulatory changes that advance green building development, and education to increase the use of practical green building strategies. www.vancity.com/MyCommunity/NotForProft/Grants/ActingOnClimateChangeGreenBuildingGrant

25. Local Government Water Conservation Incentives
Your municipality may provide grants and incentives to residents
to help save water. For example, the City of Coquitlam offers residents a $100 rebate and the City of North Vancouver, District of North Vancouver, and District of West Vancouver offer a $50 rebate when residents install a low-fush toilet. Visit your municipality’s website and enter ‘toilet rebate’ to see if there is a program.

26. Local Government Water Meter Programs
Your municipality may provide a program for voluntary water metering, so that you pay only for the amount of water that you use. Delta, Richmond and Surrey have programs and other municipalities may soon follow. Visit your municipality’s website and enter ‘water meter’ to fnd out if there is a program.

Whytecliff Park Open House!

Stu Bell — Sat, 14 Jan 2012 12:49:03 -0800

We are proud to announce that this Jan 15th, 2:00 PM to 4:00 PM we will be hosting an Open House at 6994 Hycroft Rd in the Whytecliff Park neighborhood, West Vancouver. This is an opportunity to visit this excellent Luxury Home for sale in beautiful Whytecliff Park.

Please come with any questions you may have. In the meantime you can take a virtual tour of this Whytecliff Park Luxury Home for sale.

As always please do not hesitate to give me a call at 604.562.0532 if I can answer any questions before the open house, or if you would like to book a private showing.

Stu Bell
West Vancouver

Whytecliff Park Open House!

Stu Bell — Mon, 09 Jan 2012 20:28:43 -0800

We are proud to announce that this Jan 18th, 10:00 AM to 12:00 PM we will be hosting an Open House at 6994 Hycroft Rd in the Whytecliff Park neighborhood, West Vancouver. This is an opportunity to visit this excellent Luxury Home for sale in beautiful Whytecliff Park.

Please come with any questions you may have. In the meantime you can take a virtual tour of this Whytecliff Park Luxury Home for sale.

As always please do not hesitate to give me a call at 604.562.0532 if I can answer any questions before the open house, or if you would like to book a private showing.

Stu Bell
West Vancouver

Whytecliff Park Open House!

Stu Bell — Thu, 05 Jan 2012 20:50:22 -0800

We are proud to announce that this Jan 8th, 2:00 PM to 4:00 PM we will be hosting an Open House at 6994 Hycroft Rd in the Whytecliff Park neighborhood, West Vancouver. This is an opportunity to visit this excellent Luxury Home for sale in beautiful Whytecliff Park.

Please come with any questions you may have. In the meantime you can take a virtual tour of this Whytecliff Park Luxury Home for sale.

As always please do not hesitate to give me a call at 604.562.0532 if I can answer any questions before the open house, or if you would like to book a private showing.

Stu Bell
West Vancouver

411 1177 HORNBY Street, Vancouver West, British Columbia

Stu Bell — Thu, 05 Jan 2012 20:42:14 -0800

I just sold this Condo at 411 1177 HORNBY Street, Vancouver West, British Columbia Downtown VW.

View this recently sold Condo or see all my home sales

December 2011 Greater Vancouver Real Estate Statistics

Stu Bell — Wed, 04 Jan 2012 22:53:44 -0800

The 2011 Greater Vancouver housing market began with heightened demand in regional hot spots and concluded with greater balance between seller supply and buyer demand.

The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2011 reached 32,390, a 5.9 per cent increase from the 30,595 sales recorded in 2010, and a 9.2 per cent decrease from the 35,669 residential sales in 2009. Last year’s home sale total was 6.3 per cent below the ten-year average for annual Multiple Listing Service® (MLS®) sales in the region.

The number of residential properties listed for sale on the MLS® in Greater Vancouver increased 2.7 per cent in 2011 to 59,549 compared to the 58,009 properties listed in 2010. Looking back further, last year’s total represents a 12.8 per cent increase compared to the 52,869 residential properties listed in 2009. Last year’s listing total was 11.1 per cent above the ten-year average for annual Multiple Listing Service® (MLS®) property listings in the region.

“It was a relatively balanced year for the real estate market in Greater Vancouver with listing totals slightly above historical norms and sale numbers slightly below,” Rosario Setticasi, REBGV president said.

Residential property sales in Greater Vancouver totalled 1,658 in December 2011, a decrease of 12.7 per cent from the 1,899 sales recorded in December 2010 and a 29.7 per cent decline compared to November 2011 when 2,360 home sales occurred.

More broadly, last month’s residential sales represent a 34.1 per cent decrease over the 2,515 residential sales in December 2009, a 79.4 per cent increase compared to December 2008’s 924 sales, and a 12.6 per cent decrease compared to the 1,897 sales in December 2007.

The overall residential benchmark price, as calculated by the MLSLink Housing Price Index®, for Greater Vancouver increased 7.6 per cent to $621,674 between Decembers 2010 and 2011. However, prices have decreased 1.5 per cent since hitting a peak of $630,921 in June 2011.

“Our market remained in a balanced state for most of the year, although higher levels of demand for detached properties in the region’s largest communities caused prices in certain areas to rise higher than others,” Setticasi said. “For example, the benchmark price of a single-family detached home experienced double-digit increases in nine areas within the region over the last 12 months.”

New listings for detached, attached and apartment properties in Greater Vancouver totalled 1,629 in December 2011. This represents a 4.1 per cent decline compared to the 1,699 units listed in December 2010 and a 49.4 per cent decline compared to November 2011 when 3,222 properties were listed.

Sales of detached properties in December 2011 reached 630, a decrease of 18.1 per cent from the 769 detached sales recorded in December 2010, and a 30.2 per cent decrease from the 902 units sold in December 2009. The benchmark price for detached properties increased 11.2 per cent from December 2010 to $887,471.

Sales of apartment properties reached 774 in December 2011, a decline of 4.6 per cent compared to the 811 sales in December 2010, and a decrease of 32.9 per cent compared to the 1,154 sales in December 2009.The benchmark price of an apartment property increased 3.7 per cent from December 2010 to $401,396.

Attached property sales in December 2011 totalled 254, a decline of 20.4 per cent compared to the 319 sales in December 2010, and a 44.7 per cent decrease from the 459 attached properties sold in December 2009. The benchmark price of an attached unit increased 4.2 per cent between December 2010 and 2011 to $511,499.

Download the complete stats package by clicking here.

1045 CORTELL Street, North Vancouver, British Columbia

Stu Bell — Tue, 20 Dec 2011 09:27:37 -0800

I just sold this House at 1045 CORTELL Street, North Vancouver, British Columbia Pemberton Heights.

View this recently sold House or see all my home sales