B.C. home sales to fall while prices climb, analyst predicts

June 15, 2010 — Jennifer

Inventory rose 19 per cent in May, B.C. Real Estate Association reports

The number of B.C. home sales is forecast to drop this year even as housing prices for the year are expected to rise from 2009, said a new report.

Average home prices are anticipated to climb by six per cent this year over last, to $494,600, said Cameron Muir, B.C. Real Estate Association chief economist, said in his housing forecast released yesterday.

“That really represents the price increases that have already happened.” Prices reflect sales of all types of homes sold through the multiple listing service.

“We are looking at quite stable pricing going forward,” Muir said from Vancouver.

Next year will see average prices for homes rise by one per cent to $499,700, he said…

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Posted by: By Carla Wilson, Times Colonist June 8, 2010
Date: June 8, 2010

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Vancouver real estate prices top country in April

June 15, 2010 — Jennifer

Vancouver has the largest year-over-year new housing price increase in Canada, according to Statistics Canada.

The national statistical agency released its new housing price index for the month of April this morning, which showed a 0.3% average increase across Canada and was identical to March’s increase.

The index evaluates changes in the sale prices of new homes agreed upon between the contractor and buyer, and the prices collected from builders don’t include value added taxes such as the GST or HST.

Vancouver’s year-over-year price increase was 6%.

That increase matches April’s 21% jump in B.C. residential home sales when compared with the same month in 2009, according to the British Columbia Real Estate Association (BCREA)…

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Posted by: BIV Business Today
Date: June 10, 2010

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Coldwell Banker sees growing trend in multi-generational homes

June 15, 2010 — Jennifer

Developers take note: Canadians increasingly want homes large enough to house several generations.

According to a June 8 Coldwell Banker Real Estate LLC survey of its professionals across Canada and the U.S., realtors in both markets reported that in the past year more home buyers are looking for properties that can accommodate more than one generation.

“The main reason is financial,” said Coldwell Banker Canada president John Geha, who Business in Vancouver caught up with late June 8.

“The second reason would be that it’s traditional. Canada is a very international country, and in a lot of countries around the world, this is normal.”

Originally from the U.S., Geha is visiting Vancouver from Toronto.
He said the trend toward having baby-boomer parents or even grandparents live together is more pronounced in cities like Vancouver because its real estate prices are comparatively high…

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Posted by: BIV Business Today
Date: June 9, 2010

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Outstanding renos on display at 17 locations around the region

June 15, 2010 — Jennifer

Annual Parade of Renovated Homes set for Sunday

A few months ago, a renovation contractor asked me if I wanted to tour a Shaughnessy home where a complete makeover was nearing completion. Having viewed hundreds of renovated homes over the years, I wasn’t too keen to drive from Surrey to Shaughnessy just to wander through an empty house.

“Uh, thanks for asking. I’m kinda busy, so if you don’t mind, I’ll take a pass,” I told the renovator.

“It’s a $6-million renovation,” he replied.

“I’ll be there in 40 minutes,” I said.

The workmanship and customization were to die for. The home included unique, high-end features I hadn’t seen before. For example, the home’s nine toilets -some with remote controls (don’t ask) -cost $4,500 each…

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Posted by: By Peter Simpson, Special to the Sun
Date: June 12, 2010

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