Posted on
September 22, 2010
by
Hafez Panju
UniverCity at Simon Fraser
601 9188 University Cr. Burnaby, BC, V5A 0A5
Breath Taking Views
Bright & Like New Condition
Open House: Sept 25 from 1:00 to 3:00
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...
Posted on
September 14, 2010
by
Hafez Panju
The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province declined 35 per cent to 5,590 units in August compared to the same month last year. On a seasonally adjusted basis, MLS® residential unit sales in the province increased 7 per cent in August from July 2010. The average MLS® residential price climbed 4 per cent to $487,804 in August compared to the same month last year.
“August home sales posted the first month-to-month increase since March of this year,”
said Cameron Muir, BCREA Chief Economist. ...
Posted on
September 8, 2010
by
Hafez Panju
Looks like demand for a new condo project in the UniverCity area is meeting expectations. Taking a glance at the sales board one can see more than 1/3 of the units are covered in RED DOTS! That is excellent news for the community, the sales center, SFU Community Trust and the boarder real estate market in the Burnaby area.
Upon entering the presentation center it is clear that sustainability is a focus of the project. Coloms are wrapped in faux wood finish, the color scheme of the center is environmentally friendly and information about the green initiatives of the development...
Posted on
September 8, 2010
by
Hafez Panju
The Bank of Canada today announced that it is raising its target for the overnight rate by onequarter of one percentage point to 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 but remains uneven, balancing strong activity in emerging market economies with weak growth in some advanced economies. In the United States, the recovery in private demand is being held back by high unemployment and recent indicators suggest a more muted recovery in the near term.
Economic activity in Canada was slightly...
Posted on
September 2, 2010
by
Hafez Panju
Conditions in the Greater Vancouver housing market continued to favour buyers in August. Since April, prices have edged down slightly as the number of sales and the number of properties coming on to the market have been declining.
The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totalled 2,202 in August 2010. This represents a 36 per cent decline from the 3,441 sales in August 2009, the second highest selling August ever recorded, and a 2.4 per cent decline compared to July 2010.
From a wider perspective,...
Posted on
August 31, 2010
by
Hafez Panju
Nest by Mosaic at UniverCity atop Burnaby Mountain is the latest condo project to be announced. This will be the second new development to adhere to SFU Community Trust’s new stringent sustainability building codes. Located on UniverCity High Street across from the new University Highlands elementary schools this refreshing building will add further depth to a growing community. Nest will be offering units priced in the low to mid $200,000 range and targets are for pricing to not exceed $400,000. A total of 80 contemporary units ranging in size from just over 500 sqft to almost 1000 sqft will complement...
Posted on
July 30, 2010
by
Hafez Panju
The Simon Fraser University Community Trust has cleared its last hurdle to doubling the size of its Burnaby Mountain-top community with zoning approval for Phase 3 of its UniverCity project.
Burnaby city council on Monday, approved a zoning bylaw for a massive expansion of the high-density urban community that will see up to 1,250 new units of housing built including one 20-storey tower perched near the mountain's peak with commanding views of Metro Vancouver.
"We expect absorption of these lots to take eight to 10 years," Gordon Harris, CEO of the trust, said in an interview. "The...
Posted on
July 29, 2010
by
Hafez Panju
Port Development announced today that its Origin sales center will be opening in just “a few short weeks”. In speaking with the sales team they anticipate that around the 3rd week of August they will have their sales center and presentation suite ready to unveil to the public. This is an exciting development for the SFU UniverCity area. This will mark the first new condo development project in 2 years atop Burnaby Mountain. Origin will also be one of the first of its kind in North America as it will adhere to some of the most stringent sustainability regulations to date. This has been largely driven...
Posted on
July 28, 2010
by
Hafez Panju
The Bank of Canada increased the target for its trend-setting overnight lending rate on July 20, 2010, raising it by a quarter of a percentage point to 0.75 per cent. The increase follows on the heels of an equal interest rate increase in June 2010, when it was raised for the first time since 2007. The Bank rate now stands at one per cent.
In its most recent interest rate announcement, the Bank marked down its outlook for economic growth globally, emphasizing the uneven economic recovery in the U.S., and weakening prospects for European economic growth.
In the Bank’s view, Canada’s...
Posted on
July 15, 2010
by
Hafez Panju
The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province declined 23 per cent to 7,722 units in June compared to the same month last year. On a seasonally adjusted basis, MLS® residential unit sales in the province declined 5 per cent in June from May 2010. The average MLS® residential price climbed 8 per cent to $499,908 in June compared to the same month last year.
"Market conditions have shifted from balanced conditions at the start of the year to a buyers’ market this summer," said Cameron Muir, BCREA Chief Economist....
Posted on
July 5, 2010
by
Hafez Panju
The Greater Vancouver housing market experienced steady activity to begin the summer season. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 2,972 in June 2010, a decline of 30.2 per cent compared to the 4,259 sales in June 2009, which was the second highest selling June on record.
“Activity in June marked a healthy balance between the near record setting pace of June 2009 and the considerably slower activity witnessed in June 2008, a period of recession as we all know,” Jake Moldowan, REBGV president said. Compared...
Posted on
June 14, 2010
by
Hafez Panju
The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province declined 4 per cent to 7,950 units in May compared to the same month last year. On a seasonally adjusted basis, MLS® residential unit sales in the province declined 11 per cent in May from April 2010. The average MLS® residential price climbed 7 per cent to $498,294 in May compared to the same month last year.
"A slower pace of home sales combined with an increase in the inventory of homes for sale has quelled upward pressure on home prices," said Cameron Muir,...
Posted on
June 4, 2010
by
Hafez Panju
VANCOUVER, B.C. – June 4, 2010 – The number of properties listed for sale
in Greater Vancouver continued to rise in May, while the number of sales showed
a year-over-year decrease. The Real Estate Board of Greater
Vancouver (REBGV) reports that residential property sales in Greater Vancouver
totalled 3,156 in May 2010, a decline of 10.4 per cent compared to the 3,524
sales in May 2009; 5.1 per cent more than the 3,002 sales in May 2008; and 27.1
per cent less than the 4,331 sales in May 2007. May 2010 sales also represent
a 10.1 per cent decline compared to last month’s sales. In terms...
Posted on
June 2, 2010
by
Hafez Panju
The Canadian Real Estate Association (CREA) has lowered its forecast for home sales via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards and Associations. The revision reflects a weaker than expected start to the year in British Columbia, and recent developments that pulled forward the timing as to when sales are expected to ease in other provinces.
CREA’s previous national forecast was heavily influenced by British Columbia and Ontario forecast trends, and this remains the case in the revised forecast. While sales activity is unfolding as expected in Ontario, the...
Posted on
June 1, 2010
by
Hafez Panju
The Bank of Canada today announced that it is raising its target for the overnight rate by one quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly raised to 3/4 per cent and the deposit rate is kept at 1/4 per cent, thus re-establishing the normal operating band of 50 basis points for the overnight rate.
The global economic recovery is proceeding but is increasingly uneven across countries, with strong momentum in emerging market economies, some consolidation of the recovery in the United States, Japan and other industrialized economies, and the possibility of...
Posted on
May 27, 2010
by
Hafez Panju
The Canadian Real Estate Association (CREA) released a new report today indicating that home prices will stabilize, and will remain stable for some time. This means that Canadian homeowners are unlikely to experience a U.S.-style decline in the value of their homes.
“The relationship between average price and income has recently been cited as portending a U.S.-style correction in Canadian home prices,” said Gregory Klump, Chief Economist, CREA. “However, such warnings ignore the longer-term relationship between prices and income, and disregard typical Canadian housing market cycle dynamics.”...
Posted on
May 18, 2010
by
Hafez Panju
(OTTAWA – May 17, 2010) Home sales activity in Canada came up short of the record for the month of April and new listings continued to climb, according to statistics released by The Canadian Real Estate Association (CREA).
Residential sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards numbered 52,042 units in April 2010. This is less than one per cent short of the record for national sales activity during the month of April, which was set in 2007. Compared to April 2009, national activity was up 20 per cent.
Seasonally adjusted national home...
Posted on
May 14, 2010
by
Hafez Panju
Origin by Porte Development at UniverCity is the latest announced development atop Burnaby Mountain. This will surely be an exciting launch and one to watch for as it will be the first development of its kind in North America. Origin is also the first project in SFU Community Trust’s planned third phase of development.
First the “green” initiates. As part of SFU’s commitment to sustainable development, Origin will be built to meet the new mandatory zoning bylaws created in association with the building community and the City of Burnaby. These new zoning regulations...
Posted on
May 14, 2010
by
Hafez Panju
The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province climbed 21 per cent to 8,385 units in April compared to the same month last year. On a seasonally adjusted basis, MLS® residential unit sales in the province declined 4 per cent from March 2010. The average MLS® residential price climbed 15 per cent to $514,820 in April compared to the same month last year.
“BC home sales have trended on an annual rate of 84,000 to 86,000 units over the past three months, down from the 108,000 unit pace recorded in the fourth quarter...
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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.