West Vancouver Real Estate

British Properties

Administrator — Tue, 24 Aug 2010 03:42:51 +0000

Since the Guinness family of beer fame in the UK established the British Properties in the early 1900’s the area has been associated with prosperity. When I started selling real estate back in 1986 I remember out of town buyers always requesting that area. Caulfeild, for example, was considered “too far out”. The first significant non Canadian buyers were Persians and Hong Kong Chinese. On the other hand Koreans and Taiwanese as well as US and European buyers were more adventurous and many times found their dream homes on the waterfront, and many other West Van areas. Over the years buyers changed their requests. Altamont and Dundarave became favourite with wealthy young families as well as much of Caulfeild/Rockridge. Right now, I feel that we have come full circle. We all agree that the vast majority of new wealth is coming from Mainland China. And the British Properties are their area of choice! Listings that a few years ago with have languished on the market for months or even years are selling faster than anywhere else in West Van.

House Hunters International

Administrator — Fri, 20 Aug 2010 16:58:51 +0000

This HGTV show is a perfect eye opener if you want to compare prices of real estate all over the world. You can get “bargains” or -should I say - houses that don’t cost you much, in many tropical paradises. However, when you look at certain sought after areas the prices resemble our often called “buble” prices in Vancouver. Yesterday I watched with interest a San Diego couple look at houses in the Amalfi Coast of Italy - my favourite place on earth. I was anxious to see what you pay for a villa with that signature Med view near Positano. It was like a comedy show. Domenico the sleak “italiano” realtor was showing ruins to this stunned California couple. “So where is the plumbing?” asked the pretty California wife. “The plumbing? There is no plumbing. You get your own plumbing”. The ruins dated from the middle ages, so there was no plumbing (as in no kitchen, no bathrooms) no electricity, and access was along about 1000 steps.”How do you take supplies up?” “Oh you get the mules ” says Domenico. Mules? Yes - donkeys. Charming. They bought it. Only $735,000 US….

HST

Administrator — Thu, 12 Aug 2010 22:14:35 +0000

Real Estate market analysts say that the slow down is due to the HST. Buyers should be aware that HST only applies to NEW construction,
just like the GST did before July 1st. Many developers are offering to pay the new tax so the impact is nill. Sellers will pay HST only on the fees payable to realtors and lawyers. Perception, sentiment, media drama are the real reasons for the slow down. Variable rates are at 2%. I would say it is time to go out and carefully pick deals. There are over 500 detached homes for sale in West Van and the fact is - the media drama helps buyers. Sellers become more vulnerable and willing to take low offers.

The media and the market

Administrator — Tue, 10 Aug 2010 05:29:47 +0000

The number of listings in West Van never reached the feared number of 600. We are back to around 516. Today 5 new listings, 5 sales. And some price adjustments. Another wave of buyers are taking advantage of high inventory and new lower fixed rates -the 5 year is back to 3.89 and today I received a newsletter from a broker offering 3.17! However, the media is again talking about the buble that burst bla bla. The Finantial Post mentions a couple who bought 2 years ago and can’t sell for the price they paid even after renovations. It is not stressed that the couple bought in resort areas in the interior of Alberta…But it does scare some buyers. It’s the same old cycle over and over again. Fortunately Asian buyers seem oblivious to all these news.

Random thoughts

Administrator — Tue, 10 Aug 2010 05:23:07 +0000

I’m reading “Blackberry - The Inside Story of RIM” . I never cease to admire people who have a vision and the passion to turn it into reality. What would we do without our blackberry’s! Then you get these Arab states and others worried about not being able to monitor what is being said by the users in their countries. That makes me like RIM even better. With their own servers, messages don’t go through
the unknown cyberspace of the internet. That is the reason Obama has a blackberry, not an iphone. Most corporate smart phones are blackberry.

Shirley Clarke

Administrator — Wed, 28 Jul 2010 05:40:32 +0000

Today Shirley Clarke died (Shirley Clarke with Re/Max in North Van not to be confused with Shirley Clarke with Prudential in West Van). I talked to Shirley in March for what I now know was the last time. She called to make an appointment for her daughter to show one of my listings. I don’t think I even asked “how are you?” We “top” realtors never do. It’s just straight to the point.
I did wonder why she was doing the assistant job, calling to make an appointment for her daughter. But didn’t ask. She might not have answered. It was too sad. She had been terminally ill for 2 years and I didn’t know. She did an amazing job in her short 13 years in real estate. She created a power house from the first year, and quickly evolved to employ her husband, then her son Jordan, then her daughters. Earlier this year she re-branded her business from focusing on her to becoming Team Clarke. I thought she was preparing for early retirement (she was in her 50’s) but she was doing way more. Today I understood. She had created a hugely successful business for her family. A valuable asset that had to survive her. She did an amazing job. I’m sorry we never “had time” to talk …Well done, Shirley!

A wedding in Italy

Administrator — Fri, 09 Jul 2010 05:53:19 +0000

One of the great advantages of this business is the friendship that grows with clients and colleagues. One of my first clients back in 1986 was the Ashby family. Their son Michael was 6 and their daughter Laura was 4. Michael is now 30 and a successful hedge fund manager in Geneva. I was fortunate to be one of only 80 people invited to his wedding in Ravello, Amalfi Coast, Italy. What an amazingly beautiful experience.
On the way over we stopped in London, as usual. Their HST (VAT) had just been increased to 20% that day. I didn’t check what it was in Italy. But I checked in Portugal, where we spent 5 days before flying back. It was just increased to 21%. They are doing their best to balance their budget - and in the case of Portugal - to pay back their huge debt to the EU. It helps put our 12% HST in perspective…we want good health care, schools, parks, roads, bridges - it does have to come from somewhere…One good surprise - tax wise - when I ordered my new Jag yesterday it was cheaper than the quote I had in June. The 3% luxury tax is quietly gone…

Oil spills and politics

Administrator — Fri, 18 Jun 2010 07:05:38 +0000

I couldn’t believe today’s political theatre in Washington. 3 full hours of verbal abuse from Congress against Tony Hayward. They “demand” that heads roll within BP, they demand a 20 billion dollar fund, they treat BP’s Chief Executive like a criminal. I was watching his polite, almost serene attitude in the middle of a surreal circus - driven by political ambition, not by any care for the “small people” like Mr. Henric Svanberg mentioned in his clumsy use of the English language. I know this is incorrect but I couldn’t stop thinking of how we Europeans see American tourists. Loud people in comfortable clothes and sensible shoes. Really loud and conspicuous. I could see in Mr. Haywards slight smile and brief looks at his watch - how much longer do I have to listen to these bozzos? No matter how terrible the spill and its consequences - more respect and less arrogance, please. Less politics. Does Obama really think that stopping drilling is a solution in the country that is the most dependent on oil and its derivatives? How disappointing. I looked up to him - initially.Does his government really have the authority to interfere with the finances of a public company with thousands of shareholders in the US? Then a republican congressman from Texas apologizes to BP - only to retrieve his apology under pressure from others. How pathetic.
On the real estate front- I did sell the other 2 listings that had offers pending.
All is well on this side of the border. You gotta love this business!!!

My favourite sales this week

Administrator — Thu, 10 Jun 2010 04:23:21 +0000

1055 Braeside. It is the 3rd time that I sell this house . First in 2007 from the builder to an Edmonton family. The family liked the builder so they decided to buy a piece of land and have him build a perfect house for their present needs . We listed during the slow part of 2009 but it sold and they moved. The next owners, believe it or not, ended up also becoming friends with the builder and deciding that they were comfortable with the idea of having him build exactly what they want. This time I sold it in one day. The new buyers had seen the house last year but missed it. This year they were ready to buy. The day it came out on MLS their realtor alerted them -they made an offer without delay. One showing - one sale. Perfect for the sellers, for the buyers and for me. Basically no advertising costs which compensated for very high costs last year.
1690 19th - the perfect family home , on a perfect flat lot for young kids, in the perfect family location.My buyers, a young family from Toronto will join 2 of my clients with young families on the same block.
I have 2 more accepted offers… subjects to be removed this week…There are tons of listings but not too many good well priced homes.

The side of the news that is not mentioned

Administrator — Thu, 10 Jun 2010 04:04:42 +0000

This has nothing to do with real estate. Just thoughts that come to mind when I watch or read the news. The US Congress is demanding that BP cut dividends and Obama is imposing sanctions. Hello! BP is a publicly traded company with shareholders all over the world and headquarters in the UK. The major spill in the Gulf of Mexico is a hugely tragic thing and regardless of which company made the most mistakes, everything is being done to stop the spill and mitigate damages. I just have a problem with the arrogance of the US Congress and the political spin placed on the whole matter. CNN and my ex favourite news anchor Anderson Cooper - enough.
Today some Belingham council voted against the Alberta tar sands. Hello! You are in Washington State, Alberta is in Canada. Is this another political ignorant move looking for votes?