VANCOUVER - If there's one sentence to sum up B.C.'s real estate picture in 2011, it's probably "Let's take a breather."

 
While Metro Vancouver prices rose fairly sharply over the past year, the same wasn't true in the Interior and other parts of the province where prices were flat and sales stalled.
 
A combination of low interest rates, relatively stable prices throughout the province and a gradually improving economy helped by the 2010 Winter Olympics brought buyers -- especially first-time buyers - - back into the market after a recessionary slump.
 
Those conditions are expected...
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What an honor it was to be invited to a special assembly at University Highlands Elementary School on January 24, 2011.  All the teachers were dressed up in story book characters and so were some of the students.  The children read poems, performed songs on their recorders (including Chopsticks), had reading time and we even had a sing along to the official School song. 
 
I was especially touched to learn that my donations are making a positive impact on the School and community.  The assembly was in part to thank some of the supporters.  Presently my donations are...
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The Simon Fraser University area, specifically UniverCity of Burnaby North real estate market seems to increasing steam.  7 new listings came to market this past week, including an incredible penthouse unit at 9188 Altaire.  There were no sales although the word on the street is that a town home did sell last night (Jan 25th) which will show in next week’s MLS data

There are now 38 active listings in the area with an average cost of $415,649 or $459.70 per sq ft.  4 of the 38 units for sale are located in the Origin development. 

Inventory levels are still low for the area. ...

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NOW ON MLS
 
UniverCity - Altaire
PH5 9188 University Cr., Burnaby, BC
 
Breath-taking panoramic views from Vancouver to Burrard Inlet, from city lights to lush mountains, a gorgeous penthouse unit that will not disappoint. This bright 2bed/2bath/1140+sqft unit features expansive windows, over height ceilings, laminate/tile floors, stainless appliances, granite counters w/under mount sink, fireplace, a large wrap-around balcony & so much more. The excellent sized master offers a 5 pc ensuite w/soaker & a huge walk-in closet. Altaire, Polygon built, offers balance of 2-5-10 warranty...
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The Bank of Canada kept its target for the overnight rate at one per cent for the third consecutive meeting on January 18th, 2011. Correspondingly, the Bank rate remained at 1.25 per cent and the deposit rate remains at 0.75 per cent.

 
The Bank said that the global economic recovery was proceeding at a somewhat faster than expected pace, but noted that risks remain elevated. The main source of uncertainty to the global outlook remains sovereign debt concerns in several European countries.

The driver of the improvement in the global outlook was the pick-up in private domestic demand in the...

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According to MLS data, the Simon Fraser University area, specifically UniverCity of Burnaby North has seen a decent increase in activity.  From personal experience I can say that my phone in the past two weeks has been ringing more with buyers calling to inquire about available listings.  I held an open house on January 15 at 1 9298 University and it was well attended.  Looks like buyers are starting to shed the holiday hang-over and are looking to take advantage of a more balanced market.

With 7 new listings coming to market just this past week, looks Sellers are getting back to...

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Today, the Federal Government announced new, tougher mortgage lending rules.  The new policies are a result of worries expressed by the Bank of Canada and Bay Street lenders who fear that economic conditions could further deteriorate given Canadians’ record levels of household indebtedness.

There were three primary changes that were made:

1)   The maximum amortization period was reduced from 35 years to 30 years for insured mortgages or for Buyers with less than a 20% down payment

2)   The maximum insured value that existing home owners can draw from their homes...

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The Honourable Jim Flaherty, Minister of Finance, and the Honourable Christian Paradis, Minister of Natural Resources, today announced prudent adjustments to the rules for government-backed insured mortgages to support the long-term stability of Canada’s housing market and support hard-working Canadian families saving through home ownership.
 
“Canada’s well-regulated housing sector has been an important strength that allowed us to avoid the mistakes of other countries and helped protect us from the worst of the recent global recession,” said Minister Flaherty. “The prudent measures...
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The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province declined 12 per cent to 74,640 units in 2010. The annual average MLS® residential price rose 8.5 per cent to a record $505,178 in 2010.
 
"Tighter credit conditions and expended pent-up demand curbed home sales during the first half of 2010,” said Cameron Muir, BCREA Chief Economist. “However, low mortgage interest rates and  improved economic conditions buoyed home sales in the latter half of the year.” MLS® residential unit sales declined 40 per cent January...
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The seasonally adjusted annual rate1 of housing starts was 171,500 units in December, according to Canada Mortgage and Housing Corporation (CMHC). This is down from 198,200 units in November. Actual housing starts for 2010 are being verified and will be reported in the January edition of Monthly Housing Statistics.
 
“Housing starts moved lower in December due to the multiple starts segment, especially in Ontario,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. “Single-detached starts were also down, but minimally.”
 
The seasonally adjusted annual rate of urban starts...
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The first week of 2011 was rather quiet in the Simon Fraser University area, specifically UniverCity of Burnaby North.  There were no sales reported through the MLS for the past week however there were three new listings that came to market.

Currently, there is limited selection on the mountain with only 29 active listings.  This is still winter and the SFU area tends to receive more snow than other parts of Vancouver.  As we are still expecting a large snow dump this could be one of the reasons why Sellers are hesitant to list at this time.  I believe inventory, which currently...

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UniverCity - Novo 1
#1 9298 University Cr, Burnaby, BC
 
Desirable green-space facing, ground floor end unit with large covered patio; perfect for year-round use. This 1 bed & den 694 sqft unit is in excellent condition, shows very well & offers an open layout. Located in Novo 1's South Toweron the quiet side, this complex offers balance of 2-5-10 year warranty, no rental restrictions & welcomes pets. Features: granite counters, breakfast bar, fireplace, plenty of cupboard/counter & close space. Close to: transit, shopping, indoor/outdoor rec & a host of perks available...
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According to MLS data, the Simon Fraser University area and specifically UniverCity of Burnaby North saw 5 properties change ownership in the month of December 2010.  Of these 5 sales 2 were registered to Nest by Mosiac, one of two new developments currently offered for pre-sale.  The average sale price of these 5 units is $298,110 however, that does not account for the HST paid by buyers on the two new development units. 

Presently in the UniverCity area there are only 28 properties listed for sale of which 6 are located in new developments.  This means that only 22 resale ...

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The Greater Vancouver residential housing market entered three distinctive phases in 2010. Continued buoyancy from the post-recession recovery began the year, followed by a summer lull and, throughout the fall, a sustained period of stability.
 
 The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2010 reached 30,595, a 14.2 per cent decrease from the 35,669 sales recorded in 2009, but a 24.2 per cent increase from the 24,626 residential sales in 2008. Last year’s number of housing sales was 10.3 per cent below the...
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Simon Fraser
Market Update

Simon Fraser Condos

Altaire by Polygon

Altaire built in 2008/2009 reaches higher then any other condo building in Metro Vancouver offering panoramic views.

Novo I by Intergulf

Novo I built in 2007 known for the amazing sight lines and views from most units and balconies up to 1000 sq ft.

Novo II by Intergulf

Novo II built in 2007 known for the amazing sight lines and views from most units and balconies up to 1000 sq ft.

Aurora by Polygon

Aurora built in 2006 with 103 condos featuring 36 unique floor plans ranging from 715 sq ft to 1500 sq ft.

One University by Millennium

One University built in 2005 is UniverCity's flagship building with luxury homes featuring semi private elevators.

Harmony by Polygon

Harmony built in 2005 was the first condo development at Univercity & as a result offers a unique setting & views.

Serenity Townhomes by Polygon

Serenity is a collection of 2 bedroom townhomes of 1100 sq ft ranging to 4 bedroom 2000+ sq ft townhomes.

The Hub by Liberty Homes

The Hub built in 2009 is set atop Nester's Grocery and steps from High Street giving these homes an urban feel.

Verdant by VanCity Enterprises

Verdant is a two storey town home building built with environmental design and stylish living spaces which complement the modern exterior of these SFU homes.

Origin by Porte Development

Origin is designed by GBL Architect & BYU Interior Designs, developed by Porte Development Corp. and marketed by Red Dot Real Estate.

Nest by Mosaic

Located on UniverCity High Street across from the new University Highlands elementary schools this refreshing building will add further depth to a growing community.

Highland House by Liberty Homes

A 12-storey concrete high-rise development and targeted towards Rental Investors and First-Time Condo Buyers.

Lift by Porte Development

Lift will be a wood frame building comprising of 56 homes. Building technologies, environmental features, and price points should be similar to Origin.

Altitude by Hungerford Group

Altitude will be a 2 tower development comprising of a 12 and 14 story building with a total of 210 strata units.

CentreBlock by Liberty Homes

CentreBlock at UniverCity atop Burnaby Mountain is the latest condo project with sales commencing early 2014. .

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