Team 3000 Vancouver Richmond

A spectacular Richmond waterfront location – Riverport condos for sale

The Waterstone Pier condos at Riverport, Richmond are mere meters away from the Fraser River! The 3 buildings were designed to allow for optimum balance of space inside and maximum exterior views of the large landscaped courtyard spaces.

Some of these Richmond condos have spectacular views of the the river and Mt. Baker view. A public waterfront walkway at Waterston Pier is integrated into Richmond’s public trail system. View condos listed for sale at Waterstone Pier – 14100 Riverport, 14200 and 14300 Riverport Way, Richmond.

Waterstone Pier at Riverport is a little resort oasis on the water, with a high level of quality and a nautical feel. Waterstone Pier residency is a unique water-front life-style, and once home, you don’t have to go out again for rest and relaxation. A river walk and the Riverport Sports and Entertainment Complex are just steps away from your new home.

Buyer Package for Waterstone Pier condos

A “Buyer Package” valued up to $750 is available to home buyers who purchase a condo at Waterstone Pier through James Wong or Jameswong’s Home Team. There are many unique features for this Richmond Riverfront condo development.

View condos listed for sale at Waterstone Pier – 14100 Riverport, 14200 and 14300 Riverport Way, Richmond.

Kindly contact me if you like to set up and appointment to view some of these beautiful homes listed for sale.

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Home prices in Vancouver earned the distinction of being amongst the highest in the world. I come across some interesting information comparing the Global & Canadian supply of money, crude oil and real estate prices.

Canadian real estate prices and money supply

Real estate prices in Vancouver when compared to the supply of money in Canada and the world, showed a direct relationship in growth over the past 20 years. Similarly, the gain in crude oil prices appeared to follow the growth in the global supply of money.

The following table summarizes the prices for real estate, oil and the supply of money as recorded for January of 1990, 2000 and 2010 - for a period of 20 years.

First 10 years - 1990 to 2000

During the above period, home prices for single family homes and townhomes in Greater Vancouver made moderate gains of 27% and 16% respectvely. The increase in crude oil price and the supply of money were 2 to 3 times higher.

The gain in home prices from 1990 to 1994 was reversed after 1995 when some Chinese homw owners sold their homes and capitals back to Hongkong and Taiwan. The collapse in real estate prices was partly due to the exodus of capitals from Vancouver when the political situation in Hongkong stabalized.

Second 10 years period - 2000 to 2010

As you can see from the table above, the gain in Vancouver single family home prices followed the global supply of money closely. Although the Canadian money supply was increasing at half the rate of global money supply, some of the global money could have been recycled and ended in Canadian.

This may be the case as during this period China was growing at a rapid pace, and home prices continued to gain in values. Real estate prices all over the world, especially the developed countries, all experienced double digit gains.

New money and old money

The rapid rise in home prices, easy money policy from CMHC and low interest rates all helped to fuel the real estate boom in Canada. Liberal lending by Canadian banks through “home equity lines of credit” to home owners added fuel to the housing market.

Home owners who could tapped into their home equities through their LOC started to invest their money on 2nd, 3rd or even 4th homes. With rapidly increasing values, real estate proved to be a sure winner to the public.

Will real estate prices collapse?

This may not look likely if the gain in real estate prices has a direct relationship with the supply of money globally.

As can be seen above, real estate prices have a positive co-relation with the supply of money. Similarly, crude oil prices appeared to be affected to the same extend by the increase in global supply of money around the world. Money from China has a strong influence on Canadian real estate prices, and for many years the flow of money from China has not slowed down. This is not expected to slow down in the near future.

Home owners had enjoyed the price ride in the past. The factors affecting home prices are complex. If money supply is an important component in the whole scheme of thing, we may not see real estate prices coming down anytime soon.

South Granville homes in Vancouver West are sought after by wealthy home buyers. South Granville is a prime Vancouver west side neighborhood and has easy access to other municipalities in metro Vancouver.  Granville Street, Oak Street and Cambie Street provide easy commute to  Richmond and downtown Vancouver. 

The boundary for South Granville as generally used by the Real Estate Board of Greater Vancouver is south of 33rd Avenue, east of Oak Street, West of West Blvd and north of 57th Avenue.

Homes located in the adjacent areas like Shaughnessy,  Kerrisdale, Oakridge, South Cambie and  Marpole appeal to different home buyers. You can view homes for sale in other Vancouver Westside neighborhoods here.

South Granville neighborhood

South Granville neighborhood is charatherized with matured trees, and some of the most beautiful custome-built homes in Vancouver. Generally, the lot size for South Granville homes may range from the smaller 7,000 to over 18,000 sq ft.  

Home prices in South Granville are one of the highest in Canada. Detached home prices here range from the low $1.00 to over $5.70 million. Click here to view homes listed for sale at South Granvile, Vancouver

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Below is a CTV.ca nes report:

A new report says Vancouver has the world’s least affordable housing, and blames land-use policies designed to limit urban sprawl.

The Demographia International report released Monday looked at 272 metropolitan markets in Canada, the U.S., the U.K., Australia, New Zealand and Ireland and calls on governments to allow more housing to be built on the fringes of urban areas to help keep costs down.

The report also classified Toronto and Montreal as being severely unaffordable, and seriously unaffordable, respectively.

But Vancouver was deemed the most unaffordable market in the world last year when median housing sale values were compared to median household incomes.

Read the full story here.

Vancouver West Homes

Some of the most expensive homes in Canada are located in Vancouver West. Only the rich and wealthy can afford multi-million dollar homes in Shaughnessy, Point Grey, South Granville and other surrounding neighborhoods. You can view homes by price range using the links below:

Can one time the real estate market, and make money by following the monthly supply/demand for homes?

Real estate follows the basic economic principle that home prices are affected by market supply and demand. As can be seen from pricing trend and data here, home prices are inversly related to the changes in the supply/demand or list/sale ratios.

Following the pricing indicator

It is generally accepted that a ratio of 6 is neutral, or the market is considered to be in balance. There is no pricing pressure for home prices to move up or down. When supply exceeds demand, the supply/demand ratio rises above 6, resulting in home prices falling. The reverse happens when the ratio falls below 6, signifying stronger demand than supply, resulting in home prices going up.

Supply/demand ratio for Richmond

Home sales activities in Richmond contribute to the overall Greater Vancouver pricing trend as shown above. The list/sale ratio below showed a clear trend as whether home prices will move up or down.

You can see from the data that the supply/demand ratio tipped over in June and July of 2008. That's when home prices falled, and reached the bottom around Jan/2009 when the list/sale ratio was at it's highest at 17.33 months of inventory. The ratio falled quickly the subsequent months, and crossed the 6 month supply ratio by April, 2009. At this point, home prices turned and gained in values due to stronger demand.

The ratio tightened further to below 3 from June, 2009 and remained around the 2,5 months ratio until today. The 15% or so drop in home prices since May, 2008 to the bottom around February 2009, recovered just as quickly by November 2009.

Future market activities and pricing trend

The above is a simple housing price indicator to follow. There are many factors influecing the supply and demand for homes. There are many economists who are sounding the alarms that home prices in Greater Vacnouver are over-valued. If you are wondering whther it is time to buy or sell, you may want to follow the supply/demand ratio to guide you with your investment decision. You can be a month or 2 ahead of the crowd by taking action before the ratio turns above or below 6.

Click the link to view Vancouver and Richmond homes currently listed for sale.