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maggie chandler

Guess Where and How Much Canada's Most expensive Condo Is?

Penthouse.on 55th floor. What does $30M buy you? Location to begin with - at Bay & Yorkville. 9000sf with 680sf for your staff!

The master bedroom is 2,500sf. with a fireplace and its own terrace and 12ft ceilings. The design is haute Gluckstein. Let's not forget the wine cellar which holds 800 bottles.

The Four Seasons is selling for $3000 pr sq ft - compared to $1000psf five years ago. The developer expects the buyer to be local or someone who'll do the 6 and 6. We assume the 6 in Toronto will be during summer months!

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Vancouver's Olympic Village Real estate Analysis

The 2010 Winter Olympic Games Came, Saw and Conquered! So much fun!! Congrats to our athletes!

The Olympic Village is Vancouver's last waterfront community. Vancouver real estate statistics for False Creek South (Olympic Village) saw Febuary sales up slightly and sales down slightly.. Average sold price up to over $370,000 and sale price to list price ratio 99% with average days on market 36, Overall a strong market.

420 units of the 1,100 total units on the site have been sold. MilleniumWaterwill be pre-selling the remainder in May . The waterfront units will be over $1M. Hire me as your Buyer Agent! The Developer's agent works for the developer!

City Hall will shortly be making a decisionon whether the Olympic Village will or will not ontain social housing. Will they sell the units designated for social housing in order to increase the revenue to the City?

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Vancouver Real Estate 30 Year Graph

The February graphs for Greater Vancouver real estate show the average price of Greater Vancouver homes, townhomes and condos are slightly above their last peak, having regained what they lost last year. Prices have been rising since March. The graph shows the houses on the top, townhomes (middle) and condos (bottom) average price from 1977 to present. The Vancouver market peaked in 1981, 1989,1993 and 2008. Vancouver real estate didn't appreciate much between 1994 and 2002 but they did between 2002 and 2008. Then it dropped about 20-25% and has now surpassed the highs of 2008.

Following are the stats for Vancouver West Side -

February saw listings down and sales up compared to January. Now a better selection for buyers who are returning to the market after the Olympics.

New Listings - Feb 907, Jan 1166, Dec 469, Nov 834, October 1155, Sept 1244, July 1069, Jun 1128. There were 904 new listings in Feb'09.

Sales - Feb 526, Jan 436, 592 in Dec 592, 688 in Nov, 807 in Oct, 733 in Sept, 795 in Aug, July 774, June 949. Year to date sales 956 vs 559 same period last year . In Feb 2009 there were 382 sales

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Vancouver Real Estate Graphs

Above are the Febuary Vancouver (west side) real estate graphs for houses, townhouses and condos. Sales down and listings up, in all categories.

Condo listings increased to just over 1500 vs. nearly 2000 a year ago and are equal to May and Oct'09. New Listings - Feb 601, Jan 850, Dec 349, Nov 621, Oct 833 , Sept 798. Sales Feb 342, Jan 298, Dec 397, Nov 483, Oct 529 a Sept 477.

For the year, the busiest price range is $350,000 to $400,000 (up from $300-350k in Jan). Year to Date sales over $1 Million - 27 sales. Total of 640 sales for the year vs 362 in 2009.

Townhouse listings 200 vs 400 a year ago. New listings for Feb 86. Jan 30, Dec 34 , 77 in Nov, 94 in Oct and 136 in Sept. Sales were for the month 54, Jan 30, Dec 62, 64 in Nov, 78 in Oct and 81 in Sept. Busiest price range is $700,000 to $800,000. 31 sales over $1M. 84 sales for the year vs 51 last year.

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What Vancouver Real Estate Buyers should know about April 19th

CMHC's new rules come into effect April 19th. At that date real estate buyers will qualify for a lower mortgage if you require a CMHC insured mortgage.

Be sure to ask your financial institution which are the two amounts you qualify for, pre and post April 19th, as this will impact your purchasing power.

Read my past post

For a pre-approval contact Alma Pasic , mortgage consultant

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