Posted on
December 14, 2010
by
Hafez Panju
The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province climbed 20 per cent in November from October 2010, on a seasonally adjusted basis. Compared to November of last year, MLS® residential unit sales were down 21 per cent to 5,647 units. The average MLS® residential price rose 9 per cent to $523,394 in November compared to the same month last year.
"Improved economic conditions and low mortgage interest rates have contributed to a 46 per cent increase in home sales since July," said Cameron Muir, BCREA Chief Economist....
Posted on
December 8, 2010
by
Hafez Panju
According to MLS data, the Simon Fraser University area, specifically UniverCity of Burnaby North currently offers buyers a limited selection of properties to choose from. Presently there are only 37 active listings representing less than 3% of all residents in the area. This is a low level of inventory for this area.
The week saw 8 news listings come to market and 0 sales. Interesting to note is that of the 37 active listings, 9 are being offered at two new developments – Nest by Mosaic and Origin by Port Development.
Year to date there have been a total of 128 sales...
Posted on
December 7, 2010
by
Hafez Panju
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.
The global economic recovery is proceeding largely as expected, although risks have increased. As anticipated, private domestic demand in the United States is picking up slowly, while growth in emerging-market economies has begun to ease to a more sustainable, but still robust, pace. In Europe, recent data have been consistent with a modest recovery. At the same time, there is an increased risk that...
Posted on
December 2, 2010
by
Hafez Panju
Greater Vancouver residential home sales improved in November compared to the previous four months, with the number of sales posted on the Multiple Listing Service® (MLS®) coming in slightly higher than the 10-year average for that month.
The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totalled 2,509 in November 2010. This represents a 7.4 per cent increase compared to October 2010 and an 18.6 per cent decline from the 3,083 sales in November 2009.
Looking back further, last month’s residential sales represent...
Posted on
November 25, 2010
by
Hafez Panju
Exciting news for Nest by Mosiac, developers of one of two new condo projects in UniverCity at SFU, only 12 homes remain! Since their launch just this past fall they are already 80% sold out.
The success of Nest further demonstrates the desire of the UniverCity Community. Currently there are approximately 150 residents being built, including 80 from Nest, which are scheduled for completion mid 2012. Plans are to grow the community to roughly 10,000 residents over the next 10+ years. The newly opened elementary school, the opening of Nester’s Market earlier this year, more...
Posted on
November 15, 2010
by
Hafez Panju
The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province declined 36 per cent to 5,507 units in October compared to the same month last year. On a seasonally adjusted basis, MLS® residential unit sales in the province increased 2 per cent in October from September 2010. The average MLS® residential price climbed 6 per cent to $521,859 in October compared to the same month last year.
“ BC home sales have posted moderate gains since the summer months ,” said Cameron Muir, BCREA Chief Economist. “Consumer demand...
Posted on
November 10, 2010
by
Hafez Panju
The British Columbia Real Estate Association (BCREA) released its Fall Housing Forecast 2010 today.
BC Multiple Listing Service® (MLS®) residential sales are forecast to decline 12 per cent from 85,028 units in 2009 to 74,950 units this year, before increasing 6 per cent to 79,700 units in 2011.
“Consumers are responding to a double-dip in mortgage interest rates, ” said Cameron Muir, BCREA Chief Economist. “While housing demand waned in the province through the spring and summer, the added purchasing power from low borrowing costs combined with gradual improvement in the...
Posted on
November 2, 2010
by
Hafez Panju
Greater Vancouver home sales have remained steady over the past four months, indicating stability in the residential housing market. With the MLS® sales to active listing inventory ratio indicating a buyers’ market, properties appropriately priced are selling.
According to the MLSLink® Housing Price Index (HPI), the benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 4.6 per cent to $579,349 in October 2010 from $553,702 in October 2009. Since June, however, residential home prices in Greater Vancouver have remained relatively unchanged,...
Posted on
November 1, 2010
by
Hafez Panju
According to MLS data, the Simon Fraser University area, specifically UniverCity of Burnaby North was fairly active last week. From October 25, 2010 to October 31, 2010 there were 12 new listings, all located in the UniverCity Community. However, 10 of 12 the new listings were from developers of new projects: 4 from Origin by Port Development & 6 from Nest by Mosaic. Totally active listing in the Simon Fraser University is 49 as of October 31, 2010.
There were no sales for this week but sales totals may take up to one week to be posted.
The average list price in the area...
Posted on
October 28, 2010
by
Hafez Panju
The Sales Team for Origin, one of two new projects at UniverCity reports that sales continued to be strong through fall with almost 50% of the building now sold out.
They have also recently announced a new First Time Buyer Incentive program:
- 10% deposit only (the typically deposit is 20% over an extended period of time)
- $6500 discount off the purchase price
- The program is on a limited number of homes so one must act fast
- ...
Posted on
October 28, 2010
by
Hafez Panju
Third-quarter results show Canadian house prices appreciating at close to the longterm annual norm of five per cent per year.
Canada’s residential real estate market saw year-over-year growth in the third quarter as fears of a double dip recession or a housing bubble faded. According to the Royal LePage House Price Survey released today, house price appreciation slowed to a more modest five per cent in the quarter, which is historically typical of balanced real estate markets.
“Most Canadian housing markets cooled in the third quarter. In fact, the year is unfolding much as we...
Posted on
October 20, 2010
by
Hafez Panju
UniverCity at Simon Fraser
601 9188 University Cr. Burnaby, BC, V5A 0A5
Gorgeous like-new unit, offers breath-taking views of Burrard Inlet & privacy from adjacent green space. This exceptionally bright 2bed/2bath/1039sqft home features a spacious layout, fireplace, floor to ceiling windows, a large balcony, granite counters, stainless apps & so much more. The large master has walk-in & ensuite w/dual sinks, soaker & shower. Bonus custom closet organizers & cabinets add plenty storage. Altaire, Polygon built, offers balance of 2-5-10 warranty & fully equipped...
Posted on
October 20, 2010
by
Hafez Panju
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.
The global economic recovery is entering a new phase. In advanced economies, temporary factors supporting growth in 2010 - such as the inventory cycle and pent-up demand - have largely run their course and fiscal stimulus will shift to fiscal consolidation over the projection horizon. While the Bank expects that private demand in advanced economies will become sufficiently entrenched to sustain the...
Posted on
October 13, 2010
by
Hafez Panju
The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province declined 36 per cent to 5,511 units in September compared to the same month last year. On a seasonally adjusted basis, MLS® residential unit sales in the province increased 2 per cent in September from August 2010. The average MLS® residential price climbed 4 per cent to $493,846 in September compared to the same month last year.
"BC home sales increased for the second consecutive month in September," said Cameron Muir, BCREA Chief Economist. "However,...
Posted on
October 12, 2010
by
Hafez Panju
The seasonally adjusted annual rate 1 of housing starts was 186,400 units in September, according to Canada Mortgage and Housing Corporation (CMHC). This is down from 189,300 units in August.
“Housing starts moved lower in September due to a decrease in urban single starts in Atlantic Canada and Ontario,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. “Multiple starts were unchanged.”
The seasonally adjusted annual rate of urban starts decreased by 3.3 per cent to 163,200 units in September. Urban multiple starts were unchanged in September at 99,600 units, while...
Posted on
October 4, 2010
by
Hafez Panju
September home sales in Greater Vancouver were consistent with activity experienced in the preceding two months across most categories.
The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totalled 2,220 in September 2010. This represents a 0.8 per cent increase compared to August 2010 and 37.6 per cent decline from the 3,559 sales in September 2009.
In comparison, last month’s residential sales represent a 40.1 per cent increase over the 1,585 residential sales in September 2008, a 20 per cent decline compared...
Posted on
September 27, 2010
by
Hafez Panju
1% of Net Proceeds Donated to University Highlands Elementary School.
Allow me to help you and together we will help our future.
Buying or Selling Real Estate?
Does your child attend University Highlands Elementary?
Are you a faculty member?
What is your connection to this great School?
Whether you are buying or selling real estate on or off Burnaby Mountain the donation will still count.
As a father of two children ages 3 and 6, I am all too aware of the funding challenges our public school system faces today. The fact is, our children...
Posted on
September 23, 2010
by
Hafez Panju
UniverCity’s latest project, Nest by Mosaic had its official unveiling today. They kicked off with a Realtor Event, an open house of sorts so that Realtors get a sneak peak of what is on offer and can introduce the project to the clients. I know I for one will be calling a few!
From the initial price-range sheet it seems that Mosaic and MAC Marketing have decided to price the Nest condos rather sharply. With one bedroom, 515 sqft units starting at $219,900, the cost per sqft with full HST works out to be approximately $478.00. This is a pretty good value considering similar...
Posted on
September 23, 2010
by
Hafez Panju
METRO VANCOUVER -TransLink is thinking of running a gondola up to Simon Fraser University, saying it would free up dozens of buses, save money and potentially carry 3,000 people an hour up Burnaby Mountain.
The transit authority has issued a request for proposals to determine the feasibility of the gondola project, which it said could whisk passengers from the Production Way SkyTrain Station to SFU in just eight minutes, about six minutes less than a typical bus ride up the mountain.
"This could be a green alternative," TransLink spokesman Ken Hardie said. "What we really need to do...
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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.