Wednesday, January 30, 2013

BC Home Sales to Trend Higher in 2013/2014

BCREA 2013 First Quarter Housing Forecast Update

Vancouver, BC – January 30, 2013.The British Columbia Real Estate Association (BCREA) released its 2013 First Quarter Housing Forecast Update today.

BC Multiple Listing Service® (MLS®) residential sales are forecast to increase 5.6 per cent to 71,450 units this year, before increasing a further 6.1 per cent to 75,830 units in 2014. The five-year average is 74,600 unit sales, while the ten-year average is 86,800 unit sales. A record 106,300 MLS® residential sales were recorded in 2005.

"2013 is shaping up to be a transition year in the BC housing market,” said Cameron Muir, BCREA Chief Economist. “The groundwork has already begun for stronger housing demand as a significant number of part-time jobs in BC were converted into full-time employment last year."

"Residential values are expected to be on a more solid footing in 2013 as lower prices, both actual and inflation adjusted, have improved affordability. Many potential buyers that stayed on the sidelines in 2012 will likely enter the marketplace over the next year as the relatively strong financial condition of BC households precludes any deflationary spiral."

The average MLS® residential price in BC is forecast to edge down nearly 1 per cent to $510,400 this year and remain relatively unchanged in 2014, albeit up 0.6 per cent to $513,500.

Sunday, January 27, 2013

Keefer Block by Solterra - New Development in Chinatown


Project Overview

81 unit 9 storey brick and concrete building in the heart of historic and quickly revitalizing Chinatown.
Built by award-winning Solterra.
Close to transit, seawall, Downtown Vancouver, restaurants and amenities.
Extremely efficient, functional and well designed floorplans.
Homes range from 450 to 1012 sq. ft.
Open balconies or decks with all homes.
Spectacular 360 degree view common roofdeck with outdoor movie theatre, BBQ, community gardens, lounge with firepit, and childrens playground.

FEATURED FINISHINGS

High-end Italian designed kitchen and bathroom cabinetry.
Undermount kitchen sink with engineered stone countertop and backsplash
Suspended frosted glass sliding panel bedroom doors (select homes)
Wide plank engineered hardwood flooring throughout main living and bedroom areas.
Hand-set oversize bathroom floor tiles with unique carrara marble mosaic tile tub and shower wall tile.
Above counter vessel bathroom sinks on stone countertops
Premium appliance package that includes gas range with wok burner, wall oven, dishwasher and Liebherr fridge.

Location

Prominent location on the corner of Main and Keefer Street, minutes from Vancouver city centre.
Steps from Keefer Bar & Lounge, Bao Bei Restaurant and many other one-of-a-kind shops, restaurants and cafe's.
In the heart of Chinatown - an area undergoing extensive community transformation through new developments, new amenities and city revitalization initiatives.
Near transportation - bus, skytrain, bikelanes.

Building Amenities

Fully interactive rooftop community space with: outdoor kitchen, outdoor movie theatre, children's play area, community gardens, compost bins, fireside lounge.
Indoor Urban Social Lounge with: bar kitchen, dining area and big screen TV.
Keefer Block Dog Wash Station, Keefer Block Bike Repair Station and Charging stations for Electric Bikes (optional)

Pricing

Home Type
Plan Type
Size Range
(approx. square feet)

Price Range
(not including HST)

KEEFER FLAT B, C, D, G, G1, H 447 -531  Mid $200s to Low $300s
1 BED F, K 518 - 528  Low to Mid $300s
2 BEDROOM J, M , A1 663 - 825  Low $400s to Mid $500s
2 BEDROOM AND DEN E 879  Mid $500s
3 BEDROOM A 955  Mid to High $500s

Deposit and Parking Information

1 Bed, 2 Bed & 2 & Den, 3 Bed homes come with 1 parking stall. None of the Flats come with parking stall. $1,000 due at time of writing, 5% deposit is due upon firm contract; an additional 5% is due within 30 days of accepted contract; a final 5% is due upon receipt of amendment to disclosure. Keefer Block is estimated to complete Summer/Fall of 2014.

Boutique Builder of Exceptional Homes

Over the past 15 years, the team at Solterra has been involved with the development of many amazing multiresidential communities throughout the Lower Mainland, earning themselves over 50 prestigious builder awards during the past 5 years.

Personal Thoughts

Chinatown is up and coming neighborhood of Vancouver that is quickly changing and becoming a cool extension of already trendy Gastown. With pricing starting at $267,000 for FLATS and potential of renting for approx. $1,300 a month, Keefer Block appears to be a solid investment. All units are featuring balconies and Main street facing units are having additional sound proofing and thicker glass panes. First timebuyers will definitely be attracted by affordable pricing, quality interiors, upcoming neighborhhods and much more.
While visiting presentation center on Seymour Street, my attention was caught by swivel murphy bed installed in the display suite. Bed by night, book shelf and a table by day, and all you need to do is rotatethe whole assembly. Solterra is not including these units in their FLATS but are thinking of having them available and included for approx. $6,000 - $7,000.

For More Information

The Keefer Presentation Centre is located at 880 Seymour Street and is open by appointment only. You can also give me a call at 604 771 6415 or email me at info@vancouver-properties.ca