Please visit our Open House at 307 1808 3RD AVE W in Vancouver.
Open House on Sunday, September 30, 2012 2:00 pm - 4:00 pm
Welcome to Kore! This luxury concrete condo has it all - located right in the heart of beautiful Kitsilano. NEW spacious one bedroom corner unit features high end finishings, large balcony, hardwood floors throughout, open-concept kitchen,stainless steel appliances, Caesarstone & marble counters, gas cooktop, floor-to-ceiling windows and great city views. Priced to sell, no HST, don't miss this one! Public Open House September 29th & 30th, Saturday/Sunday, 2:00 - 4:00pm
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Please visit our Open House at 307 1808 3RD AVE W in Vancouver.
Open House on Saturday, September 29, 2012 2:00 pm - 4:00 pm
Welcome to Kore! This luxury concrete condo has it all - located right in the heart of beautiful Kitsilano. NEW spacious one bedroom corner unit features high end finishings, large balcony, hardwood floors throughout, open-concept kitchen,stainless steel appliances, Caesarstone & marble counters, gas cooktop, floor-to-ceiling windows and great city views. Priced to sell, no HST, don't miss this one! Public Open House September 29th & 30th, Saturday/Sunday, 2:00 - 4:00pm
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Home sale activity remained below long-term averages in the Greater Vancouver housing market in August.
 
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties reached 1,649 in August, a 30.7 per cent decline compared to the 2,378 sales in August 2011 and a 21.4 per cent decline compared to the 2,098 sales in July 2012.
 
August sales were the second lowest total for the month in the region since 1998 and 39.2 per cent below the 10-year August sales average of 2,711.
 
"Home sales this summer have been lower than we’ve seen for most of the past ten years, yet we continue to see relative stability when it comes to prices," Eugen Klein, REBGV president said.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,044 in August. This represents a 13.7 per cent decline compared to August 2011 when 4,685 properties were listed for sale on the MLS® and a 15.8 per cent decline compared to the 4,802 new listings in July 2012.

"For sellers it’s critical to work with your REALTOR® to understand today’s market and to develop the best strategy for selling your home," Klein said. "On average it’s taking about two months for a home to sell on the MLS® in Greater Vancouver today."
 
At 17,567, the total number of residential property listings on the MLS® increased 13.8 per cent from this time last year and declined 2.8 per cent compared to July 2012.
 
"Today, our sales-to-active-listings ratio sits at 9 per cent, which puts us in a buyer’s market. This ratio has been declining in our market since March when it was 19 per cent," Klein said.
 
The MLSLink® Housing Price Index (HPI) composite benchmark price for all residential properties in Greater Vancouver is $609,500. This represents a decline of 0.5% compared to this time last year and a decline of 1.1% compared to last month.
 
Sales of detached properties on the MLS® in August 2012 reached 624, a decrease of 38.8 per cent from the 1,020 detached sales recorded in August 2011, and a 30.1 per cent decrease from the 893 units sold in August 2010. The benchmark price for detached properties increased 0.2 per cent from August 2011 to $942,100.
 

Sales of apartment properties reached 725 in August 2012, a 24.1 per cent decrease compared to the 955 sales in August 2011, and a decrease of 22.5 per cent compared to the 935 sales in August 2010. The benchmark price of an apartment property decreased 0.9 per cent from August 2011 to $370,100.

Attached property sales in August 2012 totalled 300, a 25.6 per cent decrease compared to the 403 sales in August 2011, and a 19.8 per cent decrease from the 374 attached properties sold in August 2010. The benchmark price of an attached unit decreased 1.9 per cent between August 2011 and 2012 to $462,300.

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Six sites are available in Vancouver
The City of Vancouver has issued a Request for Expression of Interest (RFEOI) for proposals to develop up to 500 units of below-market rental housing by the end of 2015 on six city-owned parcels of land.
 
The land is being made available for redevelopment to successful consortia of not-for-profit and private sector applicant teams in exchange for a nominal, long-term ground lease. It’s all part of a new program, More Homes, More Affordability, that will see below-market rental housing built that will be operated through a long-term land lease from the city. The program moves the city closer to housing targets set out in its Affordable Housing and Homelessness Strategy, 2012-2121.

These targets also align with policy recommendations from the Mayor’s Task Force on Housing Affordability. “Ensuring Vancouver has affordable housing is vital to building an inclusive, diverse city that supports local jobs and investment, limits sprawl, and creates opportunity for residents of all ages,’ says City of Vancouver Mayor Gregor Robertson.

 
Sites identified are in the Kensington-Cedar Cottage and Killarney neighbourhoods. Teams interested in building affordable rental housing through the More Homes, More Affordability program should review the City’s expression of interest document available at www.vancouver.ca. In the search box enter More Homes, More Affordability.
 
RFEOI submissions are due by September 12, 2012. Shortlisted candidates will be announced in October. A detailed Request for Proposals will be issued in October and projects will be awarded in early 2012
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