Posted on
July 19, 2011
by
Hafez Panju
The Bank of Canada held its trend-setting Bank Rate at 1.25 per cent on June 19th, 2011. This marks the seventh consecutive policy decision in which interest rates have been kept on hold.
The Bank has been warning for some time that interest rates will ultimately have to rise, but hinted more strongly in this most recent announcement that a hike was coming by removing the word “eventually” as to when that might happen.
The Bank said, “To the extent that the expansion continues and the current material excess supply in the economy is gradually absorbed, some of the considerable monetary...
Posted on
July 14, 2011
by
Hafez Panju
Simon Fraser University Market Update & Commentary
According to MLS data for the Simon Fraser University area, specifically UniverCity of Burnaby North, there have been a total of 55 sales year-to-date with an average sales price of $387,167 or $429.52 per sqft. So far this year it has taken on average 45 days for a sale to occur in the area.
Presently there are a total of 70 units for sale in both resale and pre-sale developments/complexes. The average list price of all available inventories sits at $436,896 or $473.04 per sqft. Month-to-date July is tied with May for the...
Posted on
July 14, 2011
by
Hafez Panju
The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential unit sales in the province rose 2.4 per cent to 7,904 units in June compared to the same month last year. The average MLS® residential price climbed 14.4 per cent to $571,837 last month compared to June 2010.
"Home sales were relatively unchanged in June compared to last year," said Cameron Muir, BCREA Chief Economist. "However, low mortgage interest rates and an overdue pick-up in BC employment growth are expected to provide some incentive to consumers over the summer months."...
Posted on
July 5, 2011
by
Hafez Panju
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...
Posted on
July 3, 2011
by
Hafez Panju
The British Columbia Real Estate Association (BCREA) released its 2011 Second Quarter Housing Forecast today.
BC Multiple Listing Service® (MLS®) residential sales are forecast to increase 5 per cent from 74,640 units in 2010 to 78,200 units this year, before increasing a further 3.1 per cent to 80,700 units in 2012.
"Home sales will post some modest gains over the next two years," said Cameron Muir, BCREA Chief Economist. "However, positive housing fundamentals like job growth, rising wages and an expanding population base will be somewhat offset by higher borrowing costs over the...
Posted on
June 23, 2011
by
Hafez Panju
According to MLS data for the Simon Fraser University area, specifically UniverCity of Burnaby North, during the past week there were a total of 5 new listings that came to market. This brings the total active listings on MLS to 59 including resale and pre-sale properties. The average list price is $436,987 or $474.22 per sq ft.
There were two sales recorded during the past week. The average sale price was $336,000 or $413.88 per sqft.
Contact us now if you have questions about the market in general or specifically if you would like to learn more about the Simon Fraser...
Posted on
June 23, 2011
by
Hafez Panju
Just Sold
Simon Fraser University
Novo II - 404 9262 University, Bunaby
1 bedroom + den in award winning UniverCity. Immaculate, move-in condition, with views from living room & balcony! Spacious, bright & quiet InterGulf unit boasts a great layout. Luxurious granite counter tops in bathroom and kitchen. Kitchen has S/S Frigidaire appliances & island which accommodates bar stools. Front load Frigidaire washer/dryer. Balcony is ideal for entertaining, bird watching & enjoying your view of the tranquil forest. 1 secure parking. Pets welcome. Walk to SFU, shops, restaurants,...
Posted on
June 16, 2011
by
Hafez Panju
Grammy and Juno Award-winning musician Sarah McLachlan received the degree of Doctor of Fine Arts, honoris causa at the June 15, 2011 convocation ceremony at SFU.
The Vancouver singer, songwriter and Lilith Fair founder has sold some 40 million albums worldwide and raised millions of dollars for women's charities, AIDS sufferers and inner-city kids, to name a few.
She performed two songs at the ceremony, World On Fire from her 2003 album Afterglow and Angel from her 1997 album Surfacing.
Posted on
June 16, 2011
by
Hafez Panju
According to MLS data for the Simon Fraser University area, specifically UniverCity of Burnaby North, during the month of May 2011 there were a total of 3 sales for an average cost per sqft of $365.80. Of the three sales registered through MLS two were in the resale market and one was in Origin by Port Development. This compares to 11 sales that took place in April 2011 or a decrease of approximately 77%.
Presently there are 58 active listings for an average cost per sqft of $475.39. In the month of May 17 new listing came to market compared to the month of April that saw...
Posted on
June 15, 2011
by
Hafez Panju
The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential unit sales in the province edged down one per cent to 7,857 units in May compared to the same month last year. The average MLS® residential price climbed 20 per cent to $596,872 last month compared to May 2010.
"Tighter mortgage rules, tepid employment growth and advance buying during the first quarter kept BC home sales on a lower note in May," said Cameron Muir, BCREA Chief Economist. "However, recent downward pressure on mortgage interest rates is expected to provide some...
Posted on
June 6, 2011
by
Hafez Panju
Spectacular Unit with 12’ Ceilings
Altaire at Simon Fraser University
101 9222 University
$519,800
Stunning & bright corner unit that will exceed your expectations. This 2bed/2bath, 1056sqft home offers west exposure, green space & mountain top views, 12' ceilings, expansive windows, a spacious open plan, a covered balcony & unique foyer. Altaire is a concrete hi-rise with high-end finishing, excellent amenities & balance of 2-5-10 yr warranty. Features: granite, SS apps, large living room, breakfast bar & excellent closet space. Master has walk-in, & ensuite:...
Posted on
June 6, 2011
by
Hafez Panju
The Bank of Canada held its trend-setting Bank Rate at 1.25 per cent on May 31, 2011. This marks the sixth consecutive policy rate announcement for which interest rates have been kept on hold.
The Bank now sees headline inflation as staying above 3 per cent in the short term. It nonetheless maintained its inflation outlook included in its April Montary Policy Update, which indicated that inflation in Canada would hit two per cent by mid-2012.
“The Bank sets rates based on an inflation target of between one and three per cent, and it normally leans against inflation by raising interest...
Posted on
June 6, 2011
by
Hafez Panju
Home sales remained at typical springtime levels on the Multiple Listing Service® (MLS®) in Greater Vancouver in May.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties in Greater Vancouver reached 3,377 in May 2011, a 7 per cent increase compared to the 3,156 sales in May 2010 and a 4.7 per cent increase compared to the 3,225 sales in April 2011.
Looking back further, last month’s residential sales are 8.1 per cent below the ten-year average for sales in May. The three highest selling Mays ever...
Posted on
May 25, 2011
by
Hafez Panju
Origin by Porte Development at UniverCity is now 75% sold out and is launching new pricing models for some of the remaining units.
Origin is built to meet the new mandatory zoning bylaws for the SFU area created in association with the building community and the City of Burnaby. These new zoning regulations ensure all new developments are at least 30 percent more efficient than existing developments while still remaining cost effective for the developers.
Origin is designed by GBL Architect & BYU Interior Designs and is situated on one of the plateaus in the...
Posted on
May 20, 2011
by
Hafez Panju
Spectacular Unit with 12’ Ceilings
Altaire at Simon Fraser University
101 9222 University
$519,800
Open House May 21 from 1:00 to 3:00
Stunning & bright corner unit that will exceed your expectations. This 2bed/2bath, 1056sqft home offers west exposure, green space & mountain top views, 12' ceilings, expansive windows, a spacious open plan, a covered balcony & unique foyer. Altaire is a concrete hi-rise with high-end finishing, excellent amenities & balance of 2-5-10 yr warranty. Features: granite, SS apps, large living room, breakfast bar & excellent closet...
Posted on
May 19, 2011
by
Hafez Panju
According to MLS data for the Simon Fraser University area, specifically UniverCity of Burnaby North, there are presently 52 active listings for an average list price of $436,003 or $478.45 per sq ft. The number of active listing represents less than 3.5% of resale inventory.
Of the 52 listings there are 9 units for sale on MLS that are located in the Origin project by Port Development. Origin is now coming close to being fully sold out.
Year to date activity puts total sales at 42 since the beginning of January 1, 2011. The average sale price has been $394,410 or $429.13...
Posted on
May 16, 2011
by
Hafez Panju
Spectacular Unit with 12’ Ceilings
Altaire at Simon Fraser University
101 9222 University
$519,800
Open House May 21 from 1:00 to 3:00
Stunning & bright corner unit that will exceed your expectations. This 2bed/2bath, 1056sqft home offers west exposure, green space & mountain top views, 12' ceilings, expansive windows, a spacious open plan, a covered balcony & unique foyer. Altaire is a concrete hi-rise with high-end finishing, excellent amenities & balance of 2-5-10 yr warranty. Features: granite, SS apps, large living room, breakfast bar & excellent closet...
Posted on
May 12, 2011
by
Hafez Panju
The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential unit sales in the province declined 14 per cent to 7,187 units in April compared to the same month last year. The average MLS® residential price climbed 16 per cent to $598,308 last month compared to April 2010.
"BC home sales edged lower in April as the result of home purchases that were pulled forward during the first quarter," said Cameron Muir, BCREA Chief Economist. "The province’s housing markets continue to exhibit a two steps forward, one step back trajectory in tandem...
Posted on
May 10, 2011
by
Hafez Panju
Posted on
May 7, 2011
by
Hafez Panju
UniverCity - Novo II
#306 9232 University
Shows very well & offers views of green space, mountain tops & city lights. You won’t be disappointed! This bright 2bed/2bath, 888sqft home has a spacious open layout & excellent rm separation. Novo II is a concrete building, has balance of 2-5-10 yr warranty allows rentals & pets. Features: SS apps, granite counters, breakfast bar & lots of cupboard/counter/closet space. The lrg master has 3pc ensuite & walk-in. Enjoy BBQs on the covered oversized balcony. Bonus: locker & parking. Benefit from all UniverCity offers: $30...
|
-542-wide.jpg)
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.