Posted on
February 22, 2011
by
Hafez Panju
BY JEFF LEE, VANCOUVER SUN
For the fifth year in a row, Vancouver has been named the most livable city in the world.
Still riding an Olympic high from hosting the Vancouver 2010 Games, the city beat out Melbourne,Australia and Vienna, Austria as the place where people most choose to live.
Two other Canadian cities, Toronto and Calgary, also made the Economist Intelligence Unit’s top ten list at fourth and fifth respectively.
At the other end of the spectrum was Harare, Zimbabwe, once a beautiful city but after three decades of rule under Robert Mugabe is squalid....
Posted on
February 21, 2011
by
Hafez Panju
Proud to announe that we have successfully assisted another client to sell their home in the UniverCity area.
Novo II - UniverCity at Simon Fraser University
406 9232 University
Immaculate! Shows very well & offers views of green space, mountain tops & City Lights. You won't be disappointed. This bright 2 bed/2bath, 888 sqft home has a spacious open layout & excellent rm separation. Nova II is a concrete building& has balance of 2-5-10 yr warranty. Features: SS apps, granite counters, breakfast bar & lots of cupboard/counter/closet space. The lrg master has 3pc...
Posted on
February 16, 2011
by
Hafez Panju
According to MLS data for the Simon Fraser University area, specifically UniverCity of Burnaby North, activity on the mountain is heating up! This past week saw 3 new listings which brings the totally inventory level up to 44 active listings. This includes 4 units for sale in the Origin building by Port Development. The average list price for the area is $427,618 or $464.91 per square foot. Great to see that Sellers are confident and are bringing their properties market.
I can personally attest to the activity. During the open house on Feb 12 I held at 406 9232 University...
Posted on
February 14, 2011
by
Hafez Panju
The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province climbed 7 per cent in January from December 2010, on a seasonally adjusted basis. Compared to January of last year, MLS® residential unit sales were down 10 per cent to 4,137 units. The average MLS® residential price rose 11.5 per cent to $548,183 in January compared to the same month last year.
"Consumer demand continues to normalize alongside overall economic conditions," said Cameron Muir, BCREA Chief Economist. "However, the pace of growth in home...
Posted on
February 9, 2011
by
Hafez Panju
By TRACY SHERLOCK, Vancouver
Ryan and Keith Beedie donated $22 million to Simon Fraser University's business school, marking the university's largest ever donation.
The donation is earmarked for the university's business school, which Ryan attended, and which will now be named the Beedie School of Business, SFU said in a news release.
Ryan earned his bachelor of business in 1991 at SFU, and his master of business administration in 1993 at the University of B.C. Following that, he joined his family's industrial real estate development firm The Beedie Group, SFU said in a news...
Posted on
February 9, 2011
by
Hafez Panju
According to MLS data for the Simon Fraser University area, specifically UniverCity of Burnaby North, the first week of February saw 5 new listings come to market. This includes 406 9232 University which is a 2 bedroom and 2 bathroom 888 sqft unit located in Novo II which is in immaculate condition and shows very well.
Currently there are 45 active listings with the average list price of $424,184 which works out to an average cost per sqft of $463.25. MLS did not record any sales for the past week. However, given the number of times my phone rang for showing requests for my listings...
Posted on
February 8, 2011
by
Hafez Panju
Join me this weekend to check out this Immaculate 2 bed & 2 bath condo at UniverCity
Novo II - UniverCity at Simon Fraser University
Immaculate! Shows very well & offers views of green space, mountain tops & City Lights. You won't be disappointed. This bright 2 bed/2bath, 888 sqft home has a spacious open layout & excellent rm separation. Nova II is a concrete building& has balance of 2-5-10 yr warranty. Features: SS apps, granite counters, breakfast bar & lots of cupboard/counter/closet space. The lrg master has 3pc ensuite, walk-in & a view. Enjoy...
Posted on
February 2, 2011
by
Hafez Panju
The Greater Vancouver housing market remained in balanced market conditions in January, although higher levels of buyer demand were seen in some of the region’s largest communities.
The number of properties listed for sale and those sold on the Multiple Listing Service® (MLS®) last month outpaced the 10-year average in both categories for January.
“There was a healthy balance between the number of home buyers and sellers in our market in January, but there’s always variation in activity from region to region,” said Jake Moldowan, president of the Real Estate Board of Greater Vancouver...
Posted on
February 1, 2011
by
Hafez Panju
This week saw the second sale of the year to come through MLS in the Simon Fraser University area, specifically UniverCity of Burnaby North. One town home and now one condo have sold for an average sale price of $332,250. Market activity as expected is picking up.
Currently, there are 42 active listings in the SFU UniverCity area, 11 of which are located in the new development, Origin, by Port Development. The average asking price of all active condos not sits at $417,547. Selection of available properties has increased in the past few weeks and we are now seeing a...
Posted on
January 27, 2011
by
Hafez Panju
VANCOUVER - If there's one sentence to sum up B.C.'s real estate picture in 2011, it's probably "Let's take a breather."
While Metro Vancouver prices rose fairly sharply over the past year, the same wasn't true in the Interior and other parts of the province where prices were flat and sales stalled.
A combination of low interest rates, relatively stable prices throughout the province and a gradually improving economy helped by the 2010 Winter Olympics brought buyers -- especially first-time buyers - - back into the market after a recessionary slump.
Those conditions are expected...
Posted on
January 26, 2011
by
Hafez Panju
What an honor it was to be invited to a special assembly at University Highlands Elementary School on January 24, 2011. All the teachers were dressed up in story book characters and so were some of the students. The children read poems, performed songs on their recorders (including Chopsticks), had reading time and we even had a sing along to the official School song.
I was especially touched to learn that my donations are making a positive impact on the School and community. The assembly was in part to thank some of the supporters. Presently my donations are...
Posted on
January 26, 2011
by
Hafez Panju
The Simon Fraser University area, specifically UniverCity of Burnaby North real estate market seems to increasing steam. 7 new listings came to market this past week, including an incredible penthouse unit at 9188 Altaire. There were no sales although the word on the street is that a town home did sell last night (Jan 25th) which will show in next week’s MLS data
There are now 38 active listings in the area with an average cost of $415,649 or $459.70 per sq ft. 4 of the 38 units for sale are located in the Origin development.
Inventory levels are still low for the area. ...
Posted on
January 24, 2011
by
Hafez Panju
NOW ON MLS
UniverCity - Altaire
PH5 9188 University Cr., Burnaby, BC
Breath-taking panoramic views from Vancouver to Burrard Inlet, from city lights to lush mountains, a gorgeous penthouse unit that will not disappoint. This bright 2bed/2bath/1140+sqft unit features expansive windows, over height ceilings, laminate/tile floors, stainless appliances, granite counters w/under mount sink, fireplace, a large wrap-around balcony & so much more. The excellent sized master offers a 5 pc ensuite w/soaker & a huge walk-in closet. Altaire, Polygon built, offers balance of 2-5-10 warranty...
Posted on
January 19, 2011
by
Hafez Panju
The Bank of Canada kept its target for the overnight rate at one per cent for the third consecutive meeting on January 18th, 2011. Correspondingly, the Bank rate remained at 1.25 per cent and the deposit rate remains at 0.75 per cent.
The Bank said that the global economic recovery was proceeding at a somewhat faster than expected pace, but noted that risks remain elevated. The main source of uncertainty to the global outlook remains sovereign debt concerns in several European countries.
The driver of the improvement in the global outlook was the pick-up in private domestic demand in the...
Posted on
January 19, 2011
by
Hafez Panju
According to MLS data, the Simon Fraser University area, specifically UniverCity of Burnaby North has seen a decent increase in activity. From personal experience I can say that my phone in the past two weeks has been ringing more with buyers calling to inquire about available listings. I held an open house on January 15 at 1 9298 University and it was well attended. Looks like buyers are starting to shed the holiday hang-over and are looking to take advantage of a more balanced market.
With 7 new listings coming to market just this past week, looks Sellers are getting back to...
Posted on
January 17, 2011
by
Hafez Panju
Today, the Federal Government announced new, tougher mortgage lending rules. The new policies are a result of worries expressed by the Bank of Canada and Bay Street lenders who fear that economic conditions could further deteriorate given Canadians’ record levels of household indebtedness.
There were three primary changes that were made:
1) The maximum amortization period was reduced from 35 years to 30 years for insured mortgages or for Buyers with less than a 20% down payment
2) The maximum insured value that existing home owners can draw from their homes...
Posted on
January 17, 2011
by
Hafez Panju
The Honourable Jim Flaherty, Minister of Finance, and the Honourable Christian Paradis, Minister of Natural Resources, today announced prudent adjustments to the rules for government-backed insured mortgages to support the long-term stability of Canada’s housing market and support hard-working Canadian families saving through home ownership.
“Canada’s well-regulated housing sector has been an important strength that allowed us to avoid the mistakes of other countries and helped protect us from the worst of the recent global recession,” said Minister Flaherty. “The prudent measures...
Posted on
January 13, 2011
by
Hafez Panju
The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province declined 12 per cent to 74,640 units in 2010. The annual average MLS® residential price rose 8.5 per cent to a record $505,178 in 2010.
"Tighter credit conditions and expended pent-up demand curbed home sales during the first half of 2010,” said Cameron Muir, BCREA Chief Economist. “However, low mortgage interest rates and improved economic conditions buoyed home sales in the latter half of the year.” MLS® residential unit sales declined 40 per cent January...
Posted on
January 12, 2011
by
Hafez Panju
The seasonally adjusted annual rate1 of housing starts was 171,500 units in December, according to Canada Mortgage and Housing Corporation (CMHC). This is down from 198,200 units in November. Actual housing starts for 2010 are being verified and will be reported in the January edition of Monthly Housing Statistics.
“Housing starts moved lower in December due to the multiple starts segment, especially in Ontario,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. “Single-detached starts were also down, but minimally.”
The seasonally adjusted annual rate of urban starts...
Posted on
January 11, 2011
by
Hafez Panju
The first week of 2011 was rather quiet in the Simon Fraser University area, specifically UniverCity of Burnaby North. There were no sales reported through the MLS for the past week however there were three new listings that came to market.
Currently, there is limited selection on the mountain with only 29 active listings. This is still winter and the SFU area tends to receive more snow than other parts of Vancouver. As we are still expecting a large snow dump this could be one of the reasons why Sellers are hesitant to list at this time. I believe inventory, which currently...
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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.