MAYVIEW CIRCLE Half-duplex style townhome in the most desirable location in the whole development, this END UNIT overlooks a beautiful forest & lawn setting. Nicely renovated 3 bedroom & den home has a great open floor plan kitchen with island, opening out to a wonderful terrace with a new power awning plus 2 other patio/terraces. Combination wood, tile & carpeting throughout, tasetfully decorated, gas fireplace, new bathrooms & a rarely available 2 CAR GARAGE w/lots of storage. Well managed complex with an indoor pool, saunas & party room. Close to transport, Deer Lake, Burnaby Lake, 8 Rinks, Metrotown, Highgate, schools & HWY 1. 1st SHOWING WED APRIL 25th, 6-7pm. OPEN HOUSE SAT APRIL 28thm 2-4pm. Video at Realtor's Website.

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View this recently sold Condo or see all my home sales

View this recently sold Condo or see all my home sales

View this recently sold House or see all my home sales

View this recently sold House or see all my home sales

Charming, bright 2 bdrm SE corner unit in The Statesman offering NE to SW views. Very popular & well run Uptown concrete hi-rise walking distance to Moody Park, Century House, NW High School & Massey Theatre, library & shopping. Updated in 2006 with new carpet, paint & kitchen counters. Features laminate floor entry, insuite storage + storage locker, covered view balcony (potential for enclosing), spacious living room/dining room, walk thru kitchen, generous sized bdrms, ample floor to ceiling closets & 1 prkg stall. Nicely equipped shared laundry just $0.50 wash & $0.25 dry, caretaker. Bldg has updated plumbing, roof, carpets & healthy finances. Photo tour at realtor's website. Shows well, quick possession.

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Rarely available beautiful & bright waterfront SW corner 2 bdrm, 2 bath unit in Pilot House at Tug Boat Landing. Spacious, open floorplan overlooking the Fraser River & seawall. Relax & enjoy panorama river views from the large covered balc ony. Tastefully decorated w/slate tiled entry & kitchen, new Corian kitchen counters, stainless appliances, laminate floors, new paint, crown mldgs. Kitchen w/tile backsplash + corner window design & space for computer desk or open pantry. Gas F/P in lvgrm & dining room that will accomodate large family gatherings. Excellent clubhouse/fitness facilities w/pub ambiance & dance floor + well equipped fitness area & hot tub. Bonus 2 prkg. Photo tour at realtor website. Open house Feb 26, 2-4 pm

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Gorgeous upscale bright 2 bdrm 2 bath SW corner w/views to Fraser River, Mt Baker & Queens Park in The Carlyle & Prestigious Victoria Hill Development. Enjoy the ambience & sweeping views from floor to ceiling windows & the 16' x 10' covere d balcony. Features granite counters, tile, laminate & crpt floors, spacious open kitchen w/pantry, gas stove & stainless appliances, I/S laundry, electric F/P & 1 prkg. Bldg offers 2 guest suites, media, fitness & recreation rooms. Remainder of 2-5-10 year warranty. Pedestrian overpass connects Carlyle residents directly to Queens Park. Shows beautifully. Photo tour at realtor website. Open House Sunday Feb 19, 2-4 pm.

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Prestigious Garden Village well maintained bungalow by the same family since 1987 on 60'x110' view lot w/lane. Hold or build your dream home in fabulous neighbourhood 1 blk from Wesburn Park. Mostly vinyl windows, hardwood on the main floor, updated bath & newer fridge, stove, washer dryer. Nice sized living/dining rooms. Kitchen w/eating area, corner windows & new floor. Deck overlooking the fenced yard, garden & pond w/ fountain. Bsmt features recrm w/pool table & wood burning f/p insert, large hobby room, bdrm & partly finished workshop, laundry & separate entry. Updated 100 amp panel. Walk to Moscrop High School, BCIT, Metrotown & Skytrain. Photo tour at realtor website. Open house Feb 11 & 12, 2-4 pm.

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Prime Renfrew 41' x 123.9' lot w/lane situated 1 blk east of Rupert offering partial mtn views. Zoning permits conditional 1-family dwellings w/secondary suites & laneway housing. 1 owner home in mostly original condition. Value mainly in the land w/livable house featuring hardwood floors on most of the main floor, some dble windows, updated 100 amp electrical panel & partially finished full height bsmt w/seperate entry. No bathroom or kitchen in bsmt. Home needs updating offering good opportunity for handyman or investor to hold & build. Quiet & attractive street w/trees, curb appeal & new houses. Minutes to Skytrain, Superstore, T & T Market, & Hwy #1. Photo tour at realtor website. Open house Jan 21 & 22, 1-3 pm.

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As announced in December, a new national home price index will launch in February. This index will replace the MLS®Link Housing Price Index, which has been used by Greater Vancouver and Fraser Valley REALTORS® since the mid 1990s.

The new index was developed by five of Canada’s largest real estate boards – Greater Vancouver, Fraser Valley, Calgary, Toronto and Montreal – in partnership with the Canadian Real Estate Association and will be called the MLS® Home Price Index (MLS® HPI).

The six partners contracted with Altus Group to develop this new tool which, similar to the previous index, will allow housing price trends to be traced over time for different areas within participating board markets and for different property types. The MLS® HPI will also allow for comparisons between local and national markets.

Our current HPI – launched in 1995 in Fraser Valley and 1996 in Greater Vancouver – is widely recognized as providing the most accurate indication of housing price trends in our market, but it’s not usable outside of the Lower Mainland because no other market has comparable data.

“The MLS® HPI is a national collaboration intended to further position REALTORS® and the industry as the most credible and reliable source of real estate data in the country,” Rosario Setticasi, Board president said.
What will change?

The MLS® HPI will replace our existing MLS®Link Housing Price Index. MLS® HPI statistics should not be compared with previous MLS®Link HPI statistics. There will be a few notable changes to the index in the Greater Vancouver market.

Re-indexing

All indexes have a common base. The new MLS® HPI will be indexed to equal 100 in January 2005. The previous MLS®Link HPI was indexed to 2001. Sales prior to 2005 will not be considered in the MLS® HPI.

HPI values track relative price levels by comparing current prices to price levels in a base (reference) period. Because the base period is always 100, REALTORS® can quickly infer the extent to which prices have changed relative to the base period.

For example, if the MLS® HPI value for apartment units in September 2011 was 105.1, this indicates that apartment units in September 2011 had increased 5.1 per cent compared to 2005.

Property types

The MLS® HPI will provide benchmark price trend data for the three main property types: detached, attached, and apartment.

An expanded set of property categories will also be available to members, including one-storey and two-storey homes. A composite category has also been created to track residential activity across all property types in different areas within the region.

Areas

New property markets have been added to increase the scope of the HPI. Some HPI markets have also been redefined to produce more complete data.

Updating the “benchmark” home attributes

An HPI measures how home prices change over time and provides benchmark prices of homes with “typical” characteristics in a given area. It takes into consideration what averages and medians do not – items such as lot size, age, number of rooms, etc. The most commonly traded set of these attributes makes up the typical or ‘benchmark’ house. Prices paid for homes with these attributes determine benchmark home prices.

Similar to the MLS®Link HPI, MLS® HPI benchmark prices will represent the price of a typical property within a given area or sub-area. The typical or benchmark home attributes for the area and sub-areas within the Board have been updated and will be reflected in the MLS® HPI.

More detailed information on the new MLS® HPI will be made available on www.realtorlink.ca in the coming weeks.

Source: Realtorlink & Real Estate Board of Greater Vancouver

BC has experienced balanced housing market conditions for over a year, and can expect to see more of the same in 2012, according to CMHC’s BC regional economist Carol Frketich and senior market analyst Robyn Adamache. Frketich and Adamache spoke at the CMHC Housing Outlook Conference in Vancouver, November 16.

One of the interesting things right now, Frketich said, is that we’ve continued to see price increases despite the fact we’re in a balanced market. In terms of market shifts, however, there’s usually a five to seven month lag time before prices change.

According to CMHC, BC home sales are forecast to hit 77,200 in 2011 and 81,900 in 2012, with BC housing starts expected to be 28,500 next year. In our Board area, sales are expected to increase by nine percent from a forecast of 33,000 sales in 2011 to 36,000 sales in 2012. CMHC also expects housing prices to increase next year at the rate of inflation.

In terms of factors affecting the housing market, here are CMHC’s predictions for 2012:

• Interest rates will remain stable and low: 5.2 to 5.7 per cent expected long-term rates, and 3.4 to 3.8 per cent expected short-term rates.

• China’s economic growth is expected to slow down, BC’s economic growth to slightly increase, and Canada’s to slightly slow down in 2012.

• CMHC sees slower growth in the US next year, but they’re not predicting a recession.

• BC is well-positioned to benefit from global trade, with trade patterns having shifted considerably away from the US since 2001, and much more trade with China, Korea and other Asian countries.

• Consumer pull-back slows growth this year, but comes back in 2012. Consumer spending is expected to improve.

• Retail sales are up marginally, by about one percent in BC, but lower in Vancouver.

• More stability and more jobs expected for northern BC resource centres. In Vancouver, employment is up four per cent over the last peak. The rest of the province is much lower or declining.

• The province saw 40,000 new jobs in September, and held on to those gains in October.

• BC businesses are seeing an increase in corporate profits. Expect planned investment to increase.

• Alberta is leading the country in job growth, but will slow more in line with BC going forward. The West will lead in GDP growth in Canada next year: BC at 2.7 per cent and Alberta at 3.5 per cent.

• Vancouver will account for the lion’s share of new home construction in the province in 2012. Multiple-family construction will account for the largest share.

Migration continues to affect growth in the province. Household formation – which includes children growing up and forming their own households and people moving to BC – is forecast to pick up slightly in 2012.

Typically, 34,000 new households form in the province each year. According to CMHC research, within six months of arrival 17 percent of new immigrants are homeowners. At four years, more than half of new Canadians are homeowners.

Immigrant investors bring $1.6 million in personal wealth, and make an $800,000 initial investment. Of investor immigrants, 70 per cent come here from China and 14 percent from Taiwan. Just under half of all investor immigrants in Canada land in BC.

Vancouver attracts younger people, with the majority of immigrants in the 18 to 24 year-old and 25 to 44 year-old groups. Younger people are likely to create demand for a stronger rental market. BC also tends to gain from Ontario and Alberta in migration, with people from Ontario showing a preference to live in Vancouver.

Source: CMHC