Steve Baldwin

REALTOR®

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New property listed at # 1201 1833 FRANCES ST in Vancouver.
Penthouse Panoramic 180 degree view of Lions Gate Bridge, Downtown City, Water, Cruise terminal, the Port, North SHore to 2nd Narrows Bridge from this 2 bedrrom 2 full bathrrom suite in a concrete building, 2 prkgs, in-suite laundry.
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New property listed at # 306 1750 ESQUIMALT AV in West Vancouver.
2 bdrm, 1 & 1/2 bathroom, South East corner, 1037sf apartment unit in the Ambleside area with partial water view. Very well kept. Open kitchen, huge living room, dining room, insuite storage. Just a few blocks to seawalk, close to all amenities. Maint. fee covers almost everything, heat, hot water, cable TV, gardening, caretaker and management. Excellent value and location.
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CMHC’s 2009 Second Quarter Forecast

 

Canada Mortgage and Housing Corporation published the following forecast for the upcoming months:

 

Growth in house prices will slow as the housing market turns more balanced.

 

Existing home sales activity will decrease to 357,800 units this year, but will rebound to 386,100 in 2010 as economic activity becomes more positive across Canada.

 

The Canadian resale market was back into buyers’ market territory by the end of 2008. At present, markets in Canada can be characterized as balanced. For 2009, prices are expected to decrease by 6.8 per cent to $283,100 and remain at that average in 2010.

 

It was also suggested that, as economic struggle continues, multi-family housing will become more popular. Therefore, CMHC estimates that there will be a “positive growth in the construction of multiple-family units”.

 

Another benefit that we are experiencing due to the economic conditions is a drop in mortgage rates. The forecast from CMHC expects rates to remain stable throughout the end of 2009 before gradually increasing in 2010.

 

What does all this mean to prospective home buyers and sellers? While the market is balanced and mortgage rates remain low, now is the perfect time to buy or sell.

 

Quotes compliments of www.cmhc-schl.gc.ca. Check website for more information.

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New property listed at 2416 W 15TH AV in Vancouver.
A California Style Bungalow with a Traditional Interior, open flowing plan, apprx. 1214 sq ft on main floor, Large Living Room, Formal Dining, 2 bedrooms, Den/Guest Room, Eat-in Kitchen. Original hardwood architectural ceiling trip overlay . Newer masonry gas firepalce in living room. 50 ft wide lot large grassed and treed garden Double Garage. Partially finished basement with a separate entrance. One bedroom suite, a roughed-in bachelor, Laundry Room. Two large areas can be finished for games room or sauna. Property ideal for creating wheelchair access as the living, dining, kitchen areas are open concept and good acess to the bedrooms over original hardwood floors.
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New property listed at 818 CUMBERLAND CR in North Vancouver.
Flair! Spark! Zest! This magnificent home is located in a very unique location! Situated on "the Bluff" with an expansive view of the city and harbour! Sunshine and privacy prevade! An immaculate 2 level home offering 3,189 sq.ft. Completely renovated in 1997 to deliver a sun-drenched kitchen, formal dining room, spacious living room and ground level family room. You will enjoy 2 fireplaces, hardwood and tile floors, modern bathrooms and mature landscaped gardens with irrigation and lighting. A ground level 2 bedroom legal suite and a separate 2 car garage complete this package. Your opportunity to own your own Monkey Tree! Start packing!
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New property listed at 627 ELSTREE PL in North Vancouver.
Prime Delbrook Cul-de-sac! You will enjoy raising your family in this one owner home. Pride of ownership is evident throughout this 2,600 sq.ft. 2 level hillside home located on a 9,730 sq.ft. south facing lot. An open plan dining and living room provide great entertainment space offering large windows and gas fireplace. An updated highly utilized kitchen, three bedrooms and full bathroom complete the main floor. The lower level is designed for children, boasting a large L-shaped recreation room, hobby room, den/office and 2 piece bath. This home has been very well maintained over the years and includes newer double glazed windows throughout, newer electrical panel and 4 year old shingles. Make your appointment today!
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New property listed at 2587 OTTAWA AV in West Vancouver.
Come and enjoy this brand new 3/4 bedroom gorgeous ocean view home located in prime Dundarave. This brand new home built by prominent builder Sandtech Construction comes with all the bells and whistles including state of the art gourmet granite kitchen, wine room, air conditioning, lovely patios and ocean view decks, rain screen technology and a full 2-5 and 10 year warranty. This property has been beautifully landscaped with a child friendly back yard.
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Each time a home changes hands in British Columbia, the transaction generates significant spin-offs, creates jobs and wealth and helps keep our communities growing.

Exactly how much economic activity does a home sale generate?  It depends on how it is measured.
 
A new report from the Canadian Real Estate Association (CREA) and Altus Group, Economic Impacts of MLS® Home Sales and Purchases in Canada and the Provinces 2006-2008 (April 2009), finds that in BC, a residential home sale transaction generates $60,200 in economic spin-offs and 0.42 jobs.
 

When multiplied by the 24,626 homes that changed hands in the Real Estate Board of Greater Vancouver (REBGV) area in 2008, total spin-offs amount to $1.48 billion and 10,343 jobs.

A September 2008 report from BC Real Estate Association, Multiple Listing Service® Residential Sales, finds that each residential sale in BC generates about $42,000 in spending and about 0.28 jobs. This amounts to $1.03 billion in economic activity and 6,895 jobs in the REBGV area in 2008.
 

What accounts for this difference?

  
“BCREA research focuses on the Gross Domestic Product (GDP) impacts the year of purchase, which in our study was 2007,” explains BC Real Estate Association Chief Economist Cameron Muir. “Whereas the CREA/Altus Group research focuses on GDP impacts during the first, second and third years after a home buyer purchases a home, which as 2006-2008.”
 
If we think about what home buyers might buy in the second year of owning their home, the amounts certainly do add up. Renovation expenses alone could be a large cost, as could new appliances or even new drapes or window coverings. And in the third year of owning their home, home buyers might landscape or get new drain tiles or gutters, all of which add to the spin-offs of the original purchase.
 
Thus, both studies are accurate. Each covers a different time period, which is the reason for the difference.

What is also interesting is that the dollar amount of spin-offs has been growing each year for Canada as a whole.
 
Canada-wide, using data from 2006 to 2008, CREA/Altus Group estimates a resale transaction Canada-wide generated $46,400 in economic spin-offs. From 2004 to 2006, that same resale transaction generated $32,200 in spin-offs, while from 2002 to 2004, spin-off spending was $24,697.
 
“No matter which numbers you choose to use,” says Muir, “one thing is certain: real estate continues to be a major engine driving our economy.”
 
Compliments of REBGV
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New property listed at # 706 1833 FRANCES ST in Vancouver.
Enjoy the Panoramic 180 degree view of Lions Gate Bridge, Downtown City, Water, Cruise terminal, the Port, North Shore to the 2nd Narrows Bridge. from this 2 bedroom 2 full bathroom suite in a concrete high rise building surrounded by beautiful fenced and gated gardens. Secure building with 24 hour surveillance security and underground parking. Newly renovated suite, Granite Kitchen Counter. Oak Kitchen Cabinets, Oak hardwood flooring throughout, New Maytag Stainless Steel appliances, In-suite Laundry, private balcony, live-in in-house Building Manager, administrative Property Management.
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Vancouver Sun

Published: Friday, July 3, 2009

METRO VANCOUVER — Greater Vancouver realtors had their second busiest June on record this year as buyers jumped at lower property prices and near record low mortgage rates, the Real Estate Board of Greater Vancouver reported Friday.

Board realtors recorded 4,259 sales through the Multiple Listing Service in June, a 76-per-cent increase from the same month a year ago.

The inventory of unsold homes in the board's area declined 27 per cent to 13,252, compared with the same month a year ago.

“Many people who were reluctant to purchase a home last fall and earlier this year are returning to the market because they see conditions that appeal to their personal and financial needs,” board president Scott Russell said in a news release. “However, the current marketplace is such that buyers are more inclined to walk if they don’t like the terms of an offer.”

The benchmark price for a typical detached home was $701,384 in June, still down 8.4 per cent from the same month a year ago.

The benchmark price is a calculation based on the features of homes most typically sold in that category.

Fraser Valley realtors recorded their fourth busiest June on record racking up 1,982 sales during the month, a 40-per-cent increase from the same month a year ago, the Fraser Valley Real Estate Board reported Friday.

Buyers taking advantage of lower prices helps to partly explain the surge. The benchmark price of a typical detached home was $471,788, which is still down eight per cent from June 2008.

That price, however, is up 1.3 per cent from May when the benchmark was $465,939.

“We’re essentially seeing two markets right now," Paul Penner, president of the Fraser Valley Real Estate Board said in a news release.

"Sellers have the advantage when it comes to more affordable homes, but buyers hold more sway with higher-end properties.”

Copyright (c) The Vancouver Sun 
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New property listed at # 706 1833 FRANCES ST in Vancouver.
Enjoy the Panoramic 180 degree view of Lions Gate Bridge, Downtown City, Water, Cruise terminal, the Port, North Shore to the 2nd Narrows Bridge. from this 2 bedroom 2 full bathroom suite in a concrete high rise building surrounded by beautiful fenced and gated gardens. Secure building with 24 hour surveillance security and underground parking. Newly renovated suite, Granite Kitchen Counter. Oak Kitchen Cabinets, Oak hardwood flooring throughout, New Maytag Stainless Steel appliances, In-suite Laundry, private balcony, live-in in-house Building Manager, administrative Property Management.
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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.