Property Photo: 2905 838 HASTINGS ST W in Vancouver
I have listed a new property at 2905 838 HASTINGS ST W in Vancouver.
BRAND NEW 2 bedroom at Jameson House, by Bosa, features 9' ceilings, imported travertine 'Osso' flooring throughout, Italian kitchen & bath cabinetry, under floor heating/cooling, luxurious finishings/fixtures and enjoys an open floorplanwith outstanding VIEWS! Superb kitchen includes custom s/s countertop, Gaggenau s/s appliances, Subzero integrated fridge, Bosch w/d with separate sink and more! The iconic Jameson House is located in the heart of downtown Vancouver's business/entertainment district, steps to the seawall and close to everything! Building offers 24 hour concierge service, exclusive membership to the Terminal City Club and an innovative, high tech automated parking system. HST already paid, so don't miss this one!
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Canadian markets didn’t get much of a summer vacation this week, as negotiations on the Greek bailout package took centre stage globally, while the Bank of Canada’s interest rate decision was the main event at home. On balance, an agreement on a second Greece bailout, combined with some positive corporate earnings reports, improved market sentiment and helped equity markets rally. A more hawkish-than-expected statement from the Bank of Canada (BoC) added fuel, initially taking bond yields higher, and the Canadian dollar along with them. After a benign inflation report for June on Friday, however, these moves were partially unwound.

As expected, the BoC left interest rates unchanged, but the accompanying statement was more hawkish than anticipated. The Bank dropped the word “eventually” from the statement “some of the considerable monetary policy stimulus currently in place will be [eventually] withdrawn”, leading markets to move up their timetable on rate hikes. However, Wednesday’s Monetary Policy Report (MPR), included two technical boxes that emphasized the case for leaving rates lower for longer. One explained how interest rates can remain stimulative even after inflation has reached its target and the output gap is closed. This occurs if the economy is facing significant headwinds, such as a persistent reduction in foreign demand for exports. Governor Carney reiterated that monetary policy is not some mechanical process whereby you input expected inflation and the output gap, and out comes a rate decision (in fact if that were the case, he wouldn’t have a job). Rather, the Bank takes into account what he characterized as “the very real headwinds from the dollar, the U.S., from Europe”. This is likely in response to some critics who argue the bank is at risk of getting behind the curve on inflation.
 
The other technical box in the MPR underscored the damaging effects of a strong Canadian dollar on some sectors of the economy, expanding on the responses in last week’s Business Outlook Survey. Nearly half of firms surveyed reported adverse impacts from a stronger dollar, and these firms tended to be less optimistic about their future prospects. Adverse effects were more common among manufacturers, and firms based in Central or Eastern Canada. In sum, the survey showed that headwinds from a strong C$, and continued softness in U.S. demand are constraining sales prospects over the next 12 months for firms not benefitting from high commodity prices.
 
The Bank is clearly focused on the danger of hiking prematurely, and then having one of these risks worsen. It would be very difficult to raise rates before January, because in all probability they would want data on how Q3 evolved, and confirmation of firmer U.S. demand. Friday’s release of Canadian CPI and retail sales reports showed there is little urgency for the Bank to restart rate hikes. June inflation came in softer-than-expected, and retail sales were flat in real terms, confirming that there is little scope for retailers to raise prices with debt-fatigued consumers reining in spending. All told, our expectation for the Bank to delay resuming rate hikes until January remains in tact.
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Property Photo: 972 23RD AVE W in Vancouver
I have sold a property at 972 23RD AVE W in Vancouver.
Charming character home that is just steps away from Douglas Park. 4 bedrooms, 2 bathrooms up with a separate spacious 2 bedroom suite below. Kitchen & bathrooms have been tastefully updated. Home enjoys lots of natural light,original finishings and a flowing floorplan. 2 car garage and a lovely lush English garden. This home is a must-see! Public Open House July 16, Saturday, 2-4pm
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On July 13, Economics issued a report predicting a 10.2% decrease in the housing market over the next two years.

The economists specifically focused on Vancouver and Toronto saying that they will experience an even larger decrease ...with a whopping  drop of 14.8 % for Vancouver.
 
Among the twelve major markets profiled in this report, Vancouver and Toronto look poised for larger-than-average declines over the next few years, reflecting in part their exposure to the condominium segment, which appears particularly ripe for a correction.
 
The rationale for this prediction is ...

 
A combination of more subdued job and household income growth, rising interest rates, the recent tightening in borrowing rules for insured mortgages and fewer first time home buyers are expected to be the chief culprits behind the slowdown. With most of these drivers expected to remain supportive to housing demand in the very near term, we anticipate that the brunt of this adjustment will take place in 2012 and into 2013.
 
A section of the report focused specifically on Vancouver with the title reading:
 

VANCOUVER - THE HOUSING MARKET THAT HAS ALL EYES WATCHING


 
With Vancouver consistently making all the Top 10 best city lists, it is little wonder that our housing prices are amongst the highest in Canada.
 
The predictions focus on the higher than average housing prices, condos and foreign investment factors that have driven the prices up.
 
Vancouver has been the poster child for those individuals worried about a real estate bubble here in Canada. We expect that Vancouver will post modest economic growth accompanied by subdued job and income gains. Interest rate hikes will be felt in Vancouver likely more than other places due to the fact that household debt levels are the highest across the country.
 
With this economic climate, we foresee a 25.4% peak to- trough decline in sales and 14.8% in prices over 2012-13, by far the worst fate of any urban centre. Still, the path to correction will likely transpire over seven to eight quarters. What's more, just as some of the recent increase has reflected a shift in the composition in sales towards higher priced homes, normalization in the sales mix going forward will disproportionately weigh on average prices. At the expected through in 2013, the average resale price is expected to sit at $675,000 - nearly double the national number and that of most other urban centres.
 
I hope you find this information beneficial! Please feel free to call me any time.
 
Regards
 
Amalia Liapis
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Property Photo: 13 1609 BALSAM ST in Vancouver
I have sold a property at 13 1609 BALSAM ST in Vancouver.
RARELY available! This 2 bedroom & 2 bathroom, 2 level townhouse is located in the heart of Kits. Less than 2 blocks to the beach, and close to everything Kits has to offer! Very spacious, high ceilings & open layout with largeprinciple rooms & LOTS of natural light. HUGE patio is your own private Oasis and perfect for entertaining. Large master bdrm has walk-in/office, plus ensuite. Do not miss this one! Public Open House July 2nd, Saturday, 2-4pm
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VANCOUVER, B.C. – July 5, 2011 - Home sellers outpaced buyers on Greater Vancouver’s Multiple Listings Service® (MLS®) in June, drawing the market back toward balance this summer. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties reached 3,262 in June, a 9.8 per cent increase compared to the 2,972 sales in June 2010 and a 3.4 per cent decline compared to the 3,377 sales in May 2011.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,793 in June. This represents a 4.5 per cent increase compared to June 2010 when 5,544 properties were listed for sale on the MLS® and a 2.3 per cent decline compared to the 5,931 new listings reported in May 2011.

Last month’s new listing total was 9.8 per cent higher than the 10-year average for June, while residential sales were 7.3 per cent below the ten-year average for sales in June. “With sales below the 10-year average and home listings above what’s typical for the month, activity in June brought closer alignment between supply and demand in our marketplace,” Rosario Setticasi, REBGV president said. “With a sales-to-active-listings ratio of nearly 22 per cent, it looks like we’re in the upper end of a balanced market.” At 15,106, the total number of residential property listings on the MLS® increased 3.1 per cent in June compared to last month and declined 14 per cent from this time last year.
 
The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 8.7 per cent to $630,921 in June 2011 from $580,237 in June 2010. “The largest price increases continue to be in the detached home market on the westside of Vancouver and in West Vancouver,” Setticasi said. Since the end of May, the benchmark price of a detached home rose more than $147,000 on the westside of Vancouver and over $80,000 in West Vancouver. Detached home prices in Richmond, however, levelled off slightly, declining $25,000 in June.” Sales of detached properties on the MLS® in June 2011 reached 1,471, an increase of 29.1 per cent from the 1,139 detached sales recorded in June 2010, and an 11.8 per cent decrease from the 1,667 units sold in June 2009. The benchmark price for detached properties increased 13.4 per cent from June 2010 to $901,680.

Sales of apartment properties reached 1,266 in June 2011, a 0.6 per cent increase compared to the 1,258 sales in June 2010, and a decrease of 29.3 per cent compared to the 1,790 sales in June 2009. The benchmark price of an apartment property increased 3.5 per cent from June 2010 to $405,200.
Attached property sales in June 2011 totalled 525, an 8.7 per cent decrease compared to the 575 sales in June 2010, and a 34.5 per cent decrease from the 802 attached properties sold in June 2009. The benchmark price of an attached unit increased 6 per cent between June 2010 and 2011 to $522,424.
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Property Photo: 155 PENDER ST E in VANCOUVER
I have listed a new property at 155 PENDER ST E in VANCOUVER.
Located in the historical Chinatown area of Downtown Vancouver. Chinatown's character make it a unique area that is home to many of Vancouver's finest up & coming restaurants & retailers. Free standing building, opportunity for signage. Polished concrete floors, 16' ceilings, own bathroom & private garage. Street level space with many amenities in the area. Main floor gross rent: $4,500. Top floor gross rent: $3,825.
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Property Photo: 163 PENDER ST E in VANCOUVER
I have listed a new property at 163 PENDER ST E in VANCOUVER.
Located in the historical Chinatown area of Downtown Vancouver. Chinatown's character make it a unique area that is home to many of Vancouver's finest up and coming restaurants & retailers. Free standing building, opportunity for signage. Polished concrete floors, 16' ceilings, own bathroom & private garage. Street level space with many amenities in the area. Main floor gross rent: $4,500. Top floor gross rent: $3,825.
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Exterior Renovations:


If you’re thinking of selling your home, or you simply want to spruce it up, exterior renovations can significantly increase its value and curb appeal. Aside from more expensive undertakings such as new roofing and siding, there are some projects you can take on yourself, such as creating attractive flower beds or purchasing a new front door. With each project completion, you will be happier with your home, and increase its appeal to buyers when it comes time to sell!
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Property Photo: 972 23RD AVE W in Vancouver
Please visit our Open House at 972 23RD AVE W in Vancouver.
Open House on Saturday, July 16, 2011 2:00 pm - 4:00 pm
Charming character home that is just steps away from Douglas Park. 4 bedrooms, 2 bathrooms up with a separate spacious 2 bedroom suite below. Kitchen & bathrooms have been tastefully updated. Home enjoys lots of natural light,original finishings and a flowing floorplan. 2 car garage and a lovely lush English garden. This home is a must-see! Public Open House July 16, Saturday, 2-4pm
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Property Photo: 972 23RD AVE W in Vancouver
I have listed a new property at 972 23RD AVE W in Vancouver.
Douglas Park close by this lovely character home that boasts 4 bdrms up and a 2 bdrm suite down. Kitchen & bthrms have been updated. 2 car garage and a lovely English garden. A must see!Public Open House July 9, Saturday, 2-4pm
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Property Photo: 972 23RD AVE W in Vancouver
Please visit our Open House at 972 23RD AVE W in Vancouver.
Open House on Saturday, July 9, 2011 2:00 pm - 4:00 pm
Douglas Park close by this lovely character home that boasts 4 bdrms up and a 2 bdrm suite down. Kitchen & bthrms have been updated. 2 car garage and a lovely English garden. A must see!Public Open House July 9, Saturday, 2-4pm
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