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DAB
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Re: Market Updates?

Mon Sep 28, 2015 5:25 pm

Interesting tid bit;

Brentwood Tower 3 opened for sale this past Saturday, years ahead of schedule due to the sales success, and sell out, of the first two towers.

From my observation, during the hour or so I spent there on Saturday, and half hour Sunday;

- Asian buyers hugely represented.
- Units are getting smaller and smaller, prices higher and higher.
- Huge turn out, little doubt the sales of Tower3 were a success.
- Deep pockets required to play;
- 20% deposit
- Desirable units start in the mid $600,000 range and go up into the 7 figures.
How small are the one bedrooms? I see the starting prices for Brentwood 3 around $319k. Wasn't the first building starting at $250k or so? Good return for only a little over a year's time.
 
rMBA13
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Re: Market Updates?

Mon Sep 28, 2015 5:28 pm

There are so many towers popping up in Brentwood area... It's probably the fastest growing area in the Lower Mainland right now. Chris Dikaekos is applying for a bunch of high-rises South of the General Motors dealership.
 
tapioca
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Re: Market Updates?

Tue Sep 29, 2015 11:24 am

good for me :D
 
rofina
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Re: Market Updates?

Tue Sep 29, 2015 1:52 pm

Interesting tid bit;

Brentwood Tower 3 opened for sale this past Saturday, years ahead of schedule due to the sales success, and sell out, of the first two towers.

From my observation, during the hour or so I spent there on Saturday, and half hour Sunday;

- Asian buyers hugely represented.
- Units are getting smaller and smaller, prices higher and higher.
- Huge turn out, little doubt the sales of Tower3 were a success.
- Deep pockets required to play;
- 20% deposit
- Desirable units start in the mid $600,000 range and go up into the 7 figures.
How small are the one bedrooms? I see the starting prices for Brentwood 3 around $319k. Wasn't the first building starting at $250k or so? Good return for only a little over a year's time.
One bed + one bath - 540-542 sq/ft - Floor 5-50 - Starting at $319,900, and approximately $2000.00 per floor higher.

Tower1 had one bedrooms starting on 30th floor, at $259,900 so those buyers are ahead a good 75-100k.

Even from Tower2, one bedroom were 536 - 561 sq/ft starting at $299,900

The 3 bed, 2 bath units are very nice. But start at $712,100 - again deep pockets required to play!
 
rMBA13
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Re: Market Updates?

Tue Sep 29, 2015 2:54 pm

I don't think the 1bdr unit goes up by $2,000/floor... It was more like $1000~$1500/floor for the first tower
 
tdma800
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Re: Market Updates?

Tue Sep 29, 2015 3:43 pm

 
rofina
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Re: Market Updates?

Tue Sep 29, 2015 5:05 pm

I don't think the 1bdr unit goes up by $2,000/floor... It was more like $1000~$1500/floor for the first tower
I was told on average $2000, with a bit more for higher floors. Though I didn't press for details on specific units, so only reporting what I was told.
 
rMBA13
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Re: Market Updates?

Tue Sep 29, 2015 5:07 pm

I don't think the 1bdr unit goes up by $2,000/floor... It was more like $1000~$1500/floor for the first tower
I was told on average $2000, with a bit more for higher floors. Though I didn't press for details on specific units, so only reporting what I was told.
On average $2000 for all floor plans, or specifically for 1bdr units? Because the larger the unit size, the price increment would also be higher.
 
tdma800
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Re: Market Updates?

Mon Oct 05, 2015 8:36 am

 
tapioca
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Re: Market Updates?

Tue Oct 06, 2015 1:38 pm

http://www.realtor.ca/Residential/Singl ... bia-V5B3C7

3 bed house, 33 ft lot, close to hastings st, on for 1.1 million.
 
rMBA13
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Re: Market Updates?

Tue Oct 06, 2015 6:50 pm

http://www.realtor.ca/Residential/Singl ... bia-V5B3C7

3 bed house, 33 ft lot, close to hastings st, on for 1.1 million.
Thats a lovely house
 
westcoastfella
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Re: Market Updates?

Tue Oct 06, 2015 6:58 pm

http://www.realtor.ca/Residential/Singl ... bia-V5B3C7

3 bed house, 33 ft lot, close to hastings st, on for 1.1 million.
Listing says 1.195M. Are they asking 1.1 (a price drop), or did it sell for 1.1?

That is a lot for a small house a block off of Hastings... it has nice curb appeal, but the renovation on the inside is pretty standard, nothing particularly fancy.
 
tdma800
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Re: Market Updates?

Wed Oct 07, 2015 4:19 am

http://www.theglobeandmail.com/report-o ... e26639751/
Benchmark prices for single-family detached houses in Greater Vancouver ascended to new highs last month.

The Home Price Index (HPI) for detached properties in the region hit almost $1.18-million in September, up 18.9 per cent from the same period in 2014. On Vancouver’s west side, the HPI rose 19.2 per cent over the past year to surpass $2.74-million while surging 22.5 per cent to $1.16-million on the east side.

The Real Estate Board of Greater Vancouver prefers to concentrate on the HPI, saying that averages skew the picture because the most expensive properties are included. The benchmark HPI is a representation of the typical house in an area, providing a better barometer of real estate trends than average resale prices, according to the board.

The Greater Vancouver board’s territory covers a large portion of Metro Vancouver, including Burnaby, Richmond and New Westminster. Metro Vancouver is a broader political entity that has 23 members, including other suburbs such as Surrey, White Rock and Langley – whose sales fall under the Fraser Valley Real Estate Board.

The price for detached properties in Greater Vancouver last month averaged nearly $1.41-million, or an 11.5-per-cent increase since September, 2014. Last month’s figure fell just shy of the record $1.47-million average in August.

Industry experts say low interest rates, a healthy economy and population growth have fuelled the housing boom over the past three years. On the high end of the market for detached properties, there has been brisk demand from buyers who are from China, observers say.

Dan Scarrow, vice-president of corporate strategy at Macdonald Realty Ltd., estimates that 16 per cent of his firm’s 1,500 sales of detached houses, condos and townhouses within the city of Vancouver last year went to buyers from China. Of his firm’s 544 sales of detached homes in Vancouver proper last year, 150 of the purchasers were from China, or 27.5 per cent, his analysis shows.

There were 3,345 sales in Greater Vancouver on the multiple listing service last month, up 14.5 per cent from a year earlier.

Board president Darcy McLeod said a range of factors is influencing prices, notably a limited supply of listings. The total number of listings of all residential property types in the area has fallen 27 per cent over the past year.

“The number of homes listed for sale hasn’t been keeping up with the demand,” Mr. McLeod said in a statement Friday. “It’s this dynamic that’s placing upward pressure on home prices, particularly in the detached home market.”
 
tapioca
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Re: Market Updates?

Wed Oct 07, 2015 7:39 am

WCF, my bad, I got the price wrong.
 
Fabien
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Re: Market Updates?

Wed Oct 07, 2015 9:38 am

Last month’s figure fell just shy of the record $1.47-million average in August.
So Detached or SFH average prices declined in September, despite such a low inventory and a recent rate cut (not that I've ever believed SFH was all about mortgaged middle-class cheap credit). Hmmm, interesting times..

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