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richmond bc real estate: Richmond April Housing Report - Detached Homes - 05/20/08 03:13 PM
Source: statistics from Real Estate Board of Greater Vancouver
Richmond Detached Home Housing Report - April 2008
The sales and listings statistics for Richmond in April continued to track the seasonal pattern of having more listings and sales. Over the past 4 months, more listings were added to the market, and cumulatively the number of active listings is now surpassing 670 from the December low listing number just over 400.
More inventory added
It is now taking longer to sell a detached home with around 26% probability of an average home selling and the Absorption Rate is now tracking … (0 comments)
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richmond bc real estate: Richmond 1st Quarter Housing Sales Report - 05/04/08 02:04 PM
The lower sales for Richmond homes in the month of January and February 2008 can be attributed to the seasonally lower yearly real estate activities. Sales picked up from a low figure of 271 to 378 in February and reached a total sales figure of 427 in March.
This compared favourably with the average Richmond 2006 and 2007 sales at 416 and 446 respectively.
A more up-to-date tracking report by Paul Boenisch at Prudential Sussex Realty is showing a significant build-up in Richmond's housing inventory for April, 2008. Paul's chart showed that Richmond's housing inventory for April surpassed that reported … (2 comments)
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richmond bc real estate: Interest Rates May Not Stay Low For Too Long! - 04/06/08 04:42 PM
While Canadian Prime Rate is expected to be reduced this coming April 22, 2008 interest rate-setting meeting by Bank of Canada, RBC’s recent forecast on 5-year bond rates is projected to move up the next few quarters.
Canadian home buyers will likely have another year of low interest before rates are expected to move up. The US housing market and subprime woes will take a while to stabilized. A projected slow down in the US economy or a recession will have an impact on the Canadian economy.
More Balanced Market for 2008
So far, the housing markets in Calgary, Edmonton … (1 comments)
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richmond bc real estate: Richmond BC Townhouse - Timberwood Village - 04/02/08 12:10 AM
#86 6880 Lucas Rd, Richmond Just Sold!
View here for similar Richmond townhouses available for sale.
General description:
This townhouse complex is around 30 years old. There are in total 101 units consisted of 2-level 3 bedroom homes ranging in built-up area between 1,400 to 1,605 square feet living area. The townhouse units have different floor plans; most units are with 1 full bath and 2 half-bath, while some larger 3 bedroom units may have 2 full baths and 1 half-bath. The parking arrangement is one covered front car porch and there are extra open parkings available in the complex. The … (0 comments)
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richmond bc real estate: Red Hot Richmond BC Real Estate! - 01/09/08 04:54 PM
The B.C. 2008 property assessment notices sent out to home owners last week showed an increase of 10% to 20%in property values as compared with 2007.
The following is an article by Martin van den Hemel - Richmond Review - January 02, 2008:
Assessed values red hot
Most Richmond residents will find that their homes jumped in value between 10 and 20 per cent in the last year when their latest property assessment notice arrives by mail this week.
Notices have been mailed out to the owners of 99,000 local properties by the B.C. Assessment Authority, and the numbers they contain … (3 comments)
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richmond bc real estate: Richmond BC Housing Market > December 2007 - 01/05/08 02:39 PM
The median price for detached houses for December was higher than in November, and the year-over-year price was about 10% higher than December 2006 price.
So far, Richmond’s housing activities on listings and sales ratio remain healthy. CMHC is projecting further price gain in the Greater Vancouver house prices for 2008.
The monthly total active listings, monthly units listed and sold for detached homes, townhomes and condos in Richmond, British Columbia are presented here.
… (2 comments)
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richmond bc real estate: Richmond's Million dollar Homes > Richmond MacMansions - 12/30/07 09:05 PM
Richmond's Million Dollar Homes
The reason why large-size lots are popular is because new homes built on these lots are in demand and they are selling for $1.35 to $2.00 million dollars. There are profit to be made by new home builders who are building spec homes for sale. You can view the million dollar Richmond homes here.
The profit margin for purchase-and-build is normally at 20% to 25%. But, for builders who are building on properties they bought 1 to 3 years ago, they can make a lot more money building and selling these new homes. The property appreciation already … (0 comments)
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richmond bc real estate: Richmond Real Estate > Housing Report for November 2007 - 12/28/07 07:41 PM
Richmond Real Estate Report
Although there was a drop in the median price for detached houses for November 2007, the year-over-year price was still higher. The number of listings over 90 days month-over-month is the key monthly figure to follow. This is one of the indicators to watch for any sign of market pressure on prices. So far, Richmond’s housing activities on listings and sales ratio remain healthy.
Here are the November median sale prices as reported by the Real Estate Board of Greater Vancouver:
The chart below showed the monthly total active listings, monthly listed and sold detached houses for … (0 comments)
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richmond bc real estate: Richmond Townhouse For Sale - 12/05/07 06:45 PM
#9 - 6871 Francis Road, Richmond
Asking Price: $389,000 SOLD Click here for another similar unit listed for sale
This townhouse will not last… beautiful, clean, spacious, rarely available Timberwood Village townhome; up-dated with new laminated wooden floor, new carpets and professionally painted. Centrally located, this townhouse complex is well run with great amenities. Quick possession possible. Contact: James Wong - 604-721-4817.
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… (0 comments)
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richmond bc real estate: Richmond BC Canada “A great place to live, work, play, and raise a family” - 12/01/07 08:57 PM
Are you planning to buy a home in Richmond, BC?
Real estate and home ownership is a proven asset that appreciates in value over time. It is a good hedge against modern day inflation which rises 3%-5% a year. Home owners fare better than those who do not own their homes.
If you know what you want to buy, we can help you to identify the property, negotiate the price and assist you in closing the deal. We strive to make your buying experience more pleasant and less stressful. There are compelling reasons why home buyers should have their Buying … (0 comments)
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richmond bc real estate: Richmond Townhouse For Sale - 12/01/07 04:48 PM
Richmond townhouse for sale: #9 - 6871 Francis Road, Richmond BC - Asking $389,000 SOLD!
86 6880 Lucas Road, Richmond
This townhouse is around 30 years old. This 3-bedroom townhome is an inside unit with minimal traffic noise from Gilbert Road. The living room, kitchen and dinning room are on the main floor. There are 3 spacious bedrooms on the upper level. A single covered car porch is at the front entrance to this townhouse, and extra open parkings are available in the complex. The property tax for 2007 is at 1,421 and the monthly maintenance fee is around $223.
… (0 comments)
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richmond bc real estate: Steveston Village Townhouses > Mariners Village - 11/26/07 04:52 PM
Steveston Vinnage: Mariners Village - 11291, 11391, 11491 7TH Ave.
General description:
This Steveston Village townhouse complex is around 30 years old and the units are consisted of 2-level 2 and 3 bedroom homes ranging in built-up area between 1,100 to 1,550 square feet of living area. This townhouse complex is popularly know as Mariners Village, and has different styles and floor plans.
The smaller units are with 1.5 bath, while the larger 3 bedroom units have 2 full baths and 1 half-bath. The parking arrangements for some units are open and other units are with one covered car porch. There … (0 comments)
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richmond bc real estate: BC Home Mortgage - BC First Time Home Buyer - 11/22/07 07:28 PM
A BC first time home buyer can buy with 5% down payment if he is qualified for CMHC or Genworth financing. If you are a first time home buyer, check out if you are qualified to withdraw your RRSP savings as down payment under the "home buyer's plan". In addition, you should find out for sure you are exempted from paying the British Columbia "property transfer tax".
When you are buying a home with less than 20% down payment, your mortgage is a high ratio mortgage. You are required to buy a home mortgage insurance to protect your mortgage lender against … (0 comments)
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richmond bc real estate: Buying a home through your local Richmond BC Realtor - 11/19/07 09:09 PM
Why you should use a local Richmond BC Realtor when buying your home in Richmond?
If you know what you want to buy, we can help you to identify the property, negotiate the price and assist you in closing the deal. We strive to make your buying experience more pleasant and less stressful. There are compelling reasons why home buyers should have their Buying Agents to represent them. The loyalty and best interest of a home buyer can only be provided by his Buyer Agent.
With my 18 years of real estate experience, I can guide you through the whole process … (0 comments)
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richmond bc real estate: Richmond Townhouses - 6871 Francis Rd & 6880 Lucas Rd - 11/19/07 07:41 PM
General description:
This townhouse complex is around 30 years old and the units are consisted of 2-level 3 bedroom homes ranging in built-up area between 1,400 to 1,605 square feet living area. The townhouse units have different floor plans; most units are with 1 full bath and 2 half-bath, while some larger 3 bedroom units may have 2 full baths and 1 half-bath. The parking arrangement is one covered front car porch and there are extra open parkings available in the complex. The property tax for 2007 is from around $1,667 to $1,809 and the monthly maintenance is from $216 to … (0 comments)
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richmond bc real estate: Walk Score - how walkable is the home you listed for sale? - 11/15/07 07:35 PM
A fellow Richmond BC Realtor Jay Banks at Re/Max Crest Realty shared his "Walk Score" discovery on a Vancouver Blog that I stumbled upon. I am not sure if this gadget has been introduced to AR members by someone else before.
It is called Walk Score. It helps people find walkable places to live. Walk Score calculates the walkability of an address by locating nearby stores, restaurants, schools, parks, etc. Try this out with your own address and see how walkable is your address or try this on one of your listings.
… (4 comments)
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richmond bc real estate: Vancouver Housing Market - 11/14/07 02:17 PM
Over supply of new condos?
Some real estate analysts have expressed concern regarding the over supply of new condominium in Greater Vancouver, especially in downtown core. There are literally billions of dollars worth of new apartments slated for completion over the next 3 years.
Expensive homes...low rental return
Currently, homes bought for investment are expensive for investors. The average rental incomes for all types of residential dwellings are not in line with mortgage payments. Investors lose money every month as rental income is not sufficient to cover mortgage payments, maintenance and taxes.
Why investors are still buying?
The answer is … (0 comments)
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richmond bc real estate: Vancouver Leaky Condos - Part Two - 11/14/07 01:50 PM
Vancouver leaky condos are costly to fix
According to an estimate by the British Columbia's Homeowner Protection Office, there is a total of about 65,000 dwellings in British Columbia that are "leaky condos". As of 2002, 50,000 of them had been identified. The cost to a home owner for complete remediation with "rain screen technology" may be from $25,000 to $60,000.
In spite of all the safe guards and disclosures required since 2000, a home buyer cannot be 100% certain that he or she is safe from buying a condo with water-damaged problem. The strata meeting minutes of a strata corporation … (0 comments)
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richmond bc real estate: Vancouver Leaky Condos - Part One - 11/14/07 01:45 PM
Buyer beware
When buying a Condo or town home, home buyers are advised to carefully review the strata minutes, property disclosure statement and Form B. In spite of home buyers' careful review of all relevant documents and inspection by professional home inspectors, many still ended up buying condos that are leakers.
There are many instances of condos that are suspects, but water-damaged problems in the buildings not being confirmed by engineering report. Meanwhile, patch-work repairs may have temporarily minimized the water ingress problems. Without a comprehensive investigation by a building envelope engineer, no one can be sure whether a building is … (0 comments)
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richmond bc real estate: Richmond Townhouses - 5740 Garrisaon Road, Richmond, BC - 11/13/07 07:31 PM
General description:
This townhouse complex is around 20 years old. This is a 3-level townhouse complex ranging in size from just over 1,600 to 1,715 square feet of living area with 3 bedrooms and 2.5 baths. The parking arrangement is one or 2 covered garage(s). The property tax for 2007 is around $1,800 and the monthly maintenance is around $165.
The strata management and general up-keep by the owners of 8431 and 8531 above average.
Location:
The townhouse complex is located in Richmond’s “Riverdale” area. Access to the townhouse complex from the city is via Granville Road and No. 2 Road. … (0 comments)
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Team 3000 Vancouver Richmond
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