SO FAR IN 2012
Recent years data show that March typically has more activity for sales and listings than February, for Vancouver condominiums and lofts. In March 2012, we did see softer sale numbers than those seen in 2011. March also had 5.2% percent more inventory than February, which is slightly over the average monthly increase. We are currently seeing steady sales numbers, but over average increase in inventory of homes/condos coming up for sale. This could lead to flattening prices over the next coming months.
The overall Great Vancouver Real estate market has appreciated 5% in price gain over the past 12 months. I believe due to the positive gains in local real estate values, many sellers have now listed their homes at higher aggressive prices, but are now having to compete with many newly added listings and modest sales numbers. The key to selling in today's market is sharp pricing & effective exposure. When sellers are listing their homes for sale, they must consider recent sales figures and price thier property accordingly to competition against other listings on the market. It has turned into a buyers market recently where buyers are exposed to many options of homes to buy at competitive prices on the market. For people looking to buy in today's market, there has not been so many options of homes to buy at competitive prices on the market at once, for some time. The current extra supply of listings offers buyers a good opportunity to negotiate and not having to face dealing with multiple offers as frequently, as seen in prior months.
"Home sellers have been more active than buyers for the first few months of the year, but we continue to see a relative balance in the total supply of homes for sale and current demand in the marketplace" Eugen Klien REBGV president.
PRE-SALE CONDO MARKET
There has been a strong demand for pre-sale condominiums in Vancouver and Burnaby so far this year. The Greater Vancouver market was subject to lowered supply of pre-sale entry level condos for over 1.5 years. This has built a local demand from both new home buyers and investors. Combined with attractively priced pre-sale condominium projects, there has been some great success with local developments, with many projects selling out quickly. This is a very positive aspect of our market, as many local buyers are very positive on the future of the Vancouver market. Typicality these developments are collecting 20% deposits from buyers, ensuring financial stability and buyers financial strength. This is a good security blanket for the pre-sale condominium market.
ALBRIGHTON REAL ESTATE
For Albrighton Real Estate, we still have seen multiple offers occur in 30% of our transactions, since January 1st 2012. I have also had some fortunate buyers achieve properties at very good prices, and of course some sellers sell their unique homes at higher than 2011 prices. The market for unique condos, lofts or modern homes is strong. Effective marketing, presentation and strategic pricing has lead our clients above the market average.
MORTGAGE NEWS AND RATES
Most financial institutions have big push for ‘money out’ during the spring mortgage market - this year the rate battle intensified, as we saw the lowest rate in Canadian history for the stalwart 5 year fixed at 2.98%. As the bond yields have now raised, these rates have disappeared for the time being –but- we are still in the prime of the spring mortgage market and despite the warnings from the bank of Canada earlier this week, I suspect we will still see some of the rates to stay course during the important spring market. For the time being funds for the 5 year fixed are still under 3.5% (currently at 3.39%) These are still the lowest rates ever to be offered and a terrific opportunity to lock in or make an additional acquisition.
Our selection of Vancouver's best choices of heritage lofts for sale and on the market right now. Please read and contact us directly if you have any more questions on these beautiful unique properties for sale.
#302 528 Beatty St - Bowman Lofts - Unique two level heritage loft with plenty of space, style and a showcase of old-world materials. From the reclaimed hardwood floors to the exposed wood beams and pillars, these true heritage loft offers many unique features. Inside there is over 1200 sq.ft., reclaimed heritage windows, and stunning two level plan with a large lofted living/great room. These are amongst the highest regarded lofts in Vancouver. Also located along the "character strip" of Beatty St in the heart of Crosstown - between Yaletown and Gastown. 1217 Sq.ft. listed at $725,000. (Listed by: Macdonald Realty Ltd)
#403 55 E Cordova St - Koret Lofts - A large 1200 sq.ft. renovated loft at the heritage gem of Gastown, "Koret Lofts". This unique home feats a generous open one level plan with painted white bricks, wood slat/beam ceilings, and stunning contemporary modern kitchen. Plenty of custom storage units have installed throughout. A beautiful use of space, complemented by a luxurious style bathroom/spa and large sleeping area/bedroom. 1200 sq.ft. for $724,900. (Listed by: Sutton Grp-West Coast Realty)
#501 55 E Cordova St - Koret Lofts - A great value loft on the best floor at Koret Lofts. The 5th floor at Koret Lofts features 15-16' ceilings, as its the top level of the heritage portion of the building. This 744 sq.ft. open plan, features a wide living space, upgraded Brazilian teak floors, a stylish and functional European white-resin kitchen, and custom lighting installed throughout. And the best part is that is features a view of Gastown's heritage building, the ocean and North Shore mountains. 744 sq.ft. for $439,000 (Listed by Albrighton at Macdonald Realty Ltd)
#509 55 E Cordova St - Koret Lofts - A design savvy residences. This suite utilizes all spaces. Originally with 16' ceilings, a second level/mezzanine/storage/loft was installed upstairs with its own staircase - offering plenty of extra room. A solid wide plan with bright Eastern light, completed by many customized storage inside, and in very good condition. This space offers plenty of space and function. Over 800 sq.ft. for $429,000. (Listed by Albrighton at Macdonald Realty Ltd)
Above: Large 744 sq.ft. open concept loft - exposed brick walls and upgraded Teak wood floors
Above: Custom European kitchen with soft-closing cabinets, s/s appliances and counter tops
Above: Beautiful exposed heritage wood beams, and concrete rear wall
OPEN HOUSE, SATURDAY APRIL 21ST 2012, 2:00PM - 3:30PM.
Welcome to your gem loft at Koret Lofts - a beautiful statement in architecture and restoration. This open plan loft spreads over 744 sq.ft. and looks North over Gastown and onto the ocean and North Shore Mountains. Unique features include: extra high 15'+ ceilings, timber wood beams, and exposed concrete and brick walls throughout. Many custom features: Brazilian Teak wood floors, custom storage units, stone-grey tile work and a Chef style European sleek kitchen: with soft closing cabinets, stainless steel AEG appliances, stainless steel counters, and a tile backsplash. Extremely well kept and detailed throughout. Live/work zoning. Parking can be rented nearby. More details: http://www.albrighton.ca/property_detail-1-135-36232.html
Welcome to your gem loft at Koret Lofts - a beautiful statement in architecture and restoration. This open plan loft spreads over 744 sq.ft. and looks North over Gastown and onto the ocean and North Shore Mountains. Unique features include: extra high 15'+ ceilings, timber wood beams, and exposed concrete and brick walls throughout. Many custom features: Brazilian Teak wood floors, custom storage units, stone-grey tile work and a Chef style European sleek kitchen: with soft closing cabinets, stainless steel AEG appliances, stainless steel counters, and a tile backsplash. Extremely well kept and detailed throughout. Live/work zoning. Parking can be rented nearby.
Albrighton Property Marketing shows / displays properties to their very best. I have created a brand through efficient and streamlined marketing systems. Custom designed flyers, feature sheets, and presentation books display and promote properties with class and elegance. Albrighton marketing systems have been refined and developed to target an audience of buyers who appreciate good design and unique properties. If you are planning on selling a unique condo, loft or house, contact Paul Albrighton today for a market evaluation and for more information on how the Albrighton marketing systems works.
Welcome to "The Point" at Kits beach. A modern high-quality boutique beachside townhouse located across the street from Kits beach. Sleek architectural end-unit with approx 1400+ sq.ft. 3 bedrooms, 3 bathrooms, over 200sq.ft. of outdoor space, all appointed with a perfect blend of form and function. Inside features walnut flooring on the main, spacious rooms, radiant floor heating, pot-lighting throughout, concrete fireplace, topped off with a contemporary styled chef's kitchen equipped with Jenn-Air appliances. 3rd floor master suite boasts a balcony and Western views to the ocean and mountains. Located directly across from Vancouver's best beach, parks, seawall, tennis courts and more. 2 parking + 1 storage included. For the design savvy buyer who desires a quintessential waterside location. More info: http://www.albrighton.ca/property_detail-1-135-34777.html
Above: Spacious layout with exposed brick and heritage wood beams
Above: Euro-styled modular kitchen with stainless steel coutners and gas cooktop
Above: loft/storage area
bedrooms
1
location
Vancouver
bathrooms
1
age
6
taxes
$1,500 in 2011
sq ft
832sqft
price
$429,900
strata fees
$176
mls®#
V940155
Welcome to your expansive heritage conversion loft at "Koret Lofts" . Open concept loft with over 700 sq.ft. of main floor living space and a 200+ sq.ft. loft/storage area above. Exclusive architectural features include; dramatic 16' high ceilings, exposed wood beams, brick walls and polished concrete floors. Functional Euro-style modular kitchen with Gas cooktop, stainless steel counters, and AEG s/s appliances. Open concept designer bathroom / shower area. Restored windows looking over Gastown and peek-a-boo to the North Shore mountains. This spacious live/work loft features plenty of flexibility and style. Rentable parking available nearby. Viewings by appointment only.
Listed by: RE/MAX Crest Westside (VanBch) - sold by Paul Albrighton PREC - Macdonald Realty Ltd. Unique live/work loft in the "WATERFALL BUILDING" designed by Arthur Erickson offering a super Westside location. Steps to the Seawall and Granville island shops. This corner unit comes with radiant heat & polished concrete floors, 16 foot ceiling windows and a tasteful kitchen with S/S appliances. Generous balcony with mountain views, perfect for BBQ's and entertaining guests.Private entrance within this one of a kind development. Currently rented for $2200 per month on a month to month basis. Building info page: http://www.albrighton.ca/1540-w-2nd-ave-waterfall-building.html
"Roar One" - Once on at the pages of "Azure" magazine, and now offered to the market. A stunning statement in the architecture world designed from the inside out. #401 is a one-of-a-kind penthouse loft that offers many unique features and plenty of flexibility. Never feel enclosed in this large 2 level 1630+ sq.ft. open plan complemented by glass walls, endless light, sliding screens, movable walls, extra high ceilings, polished radiant heated concrete floors, & seamless-flowing outdoor areas. Large home with 3 private bedrooms & bathrooms. Water & Mountains views from the top floor. Sleek designed building nestled in Point Grey near beaches, shops, parks, UBC and Vancouver's best schools. 2 parking & 1 storage locker included. Recipient of Lieutenant Governor's Architectural Award in 2006.
Fantastic large architectural residence. Welcome to "South Gallery" at the renowned boutique Yaletown villa style building, "The Grace". This unique sophisticated residence has been completely customized with the finest finishes and design approach all in a modern aesthetic.
Spread over 2050 sq.ft. this 3 bedroom, 2 bathroom modern New York style home will impress the most design savvy buyer. Exclusive features include: gallery like drop ceilings, custom lighting, built-in fireplaces, 5 star spa bathrooms, spectacular custom mill-work/cabinetry, walnut flooring, extensive use of marble & stone, and solid wood doors/frames. Amazing chef style kitchen with custom stainless steel counters, seamless cabinetry, topped with the best appliances including a Thermador Professional range & a Sub-Zero fridge.
An architectural gem in the heart of the Yaletown, nestled in a quiet spot. Steps away from Vancouver's best dining and seawall lifestyle. This luxury building also offers: air-conditioning, finger print security, indoor/outdoor pool, gym, concierge, and exclusive Rolls Royce driving service. This home must been seen to be appreciated. By appointment only. More information and photos, click here.
bedrooms
3
location
Vancouver
bathrooms
2
age
8
taxes
$5,796 in 2011
sq ft
2,053sqft
price
$1,855,000
strata fees
$785
mls®#
PAUL ALBRIGHTON - MACDONALD REALTY LTD
Home Featured on Dream Homes - The Express - Shaw TV Feature:
Welcome to "South Gallery" at the renowned boutique Yaletown villa style building, "The Grace". Unique sophisticated residence w/ the finest finishes and design approach all in a modern aesthetic. Over 2050 sq.ft. this 3 bedroom, 2 bathrm modern New York style home will impress the most design savvy buyer. Features: gallery like drop ceilings, custom lighting, built-in fireplaces, 5 star spa bathrms, spectacular custom mill-work/cabinetry, walnut flooring, extensive use of marble/stone & solid wood doors/frames. Amazing chef style kitchen with custom stainless steel counters, seamless cabinetry, topped with Thermador Professional range & Sub-Zero fridge. Architectural gem steps - heart of Yaletown. Featured on Dream Homes/ShawTV
PRE-SALE CONDO MARKET
MORTGAGE NEWS AND RATES
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