The market for some entry level houses is hot

The market for entry level Eastside houses is hot. Listing Realtors will often advertise a one hour opportunity to view the house shortly after listing and frequently prospective Buyers and their Realtors will line up before the advertised time followed by a mass walk through. Houses in the $550K to $700K price range - if realistically priced - will often sell within a few days around asking price.
Two issues to investigate before lining up: height of ceiling in lower level and size of usable lot (lot minus right of way, covenant or other restriction).

Increased interest rates for fixed rate mortgages

TD, RBC and Laurentian bank have increased their rates for fixed rate mortgages by up to .8% and the other financial institutions will without a doubt follow. The increase of the bond yield is quoted as justification. The entry level market will be effected by this increase, higher priced homes will most likely continue to sell without change.
Variable rate mortgage rates are unchanged.

Stunning brand-new view home in West Vancouver

Just sold the most wonderful home in Chippendale Road, West Vancouver to the most wonderful Buyers. The view is unbelievable, the floor plan fantastic and the finishes and workmanship exceptional. The Seller and builder did an outstanding job and were a pleasure to work with. Compliments to all involved.
The recovery has definitely reached the higher price ranges - properties in all price ranges are selling well. If you are looking to buy a brand-new home, now is the time before the introduction of the new tax HST on 1 July 2010. The Seller of the beautiful home in Chippendale Road has another brand-new home for sale and I know of several other great homes in the area that are not listed on MLS. Contact me if you like further information - tel 604 926 3936 or christinelouw@shaw.ca, http://www.christinelouw.com/

Strong sales during and after Olympics

During the Olympics the CAD 22.3 mil penthouse of Three Harbour Green in Coal Harbour sold and so did many other properties. The Vancouver real Estate Board reports that in February '10 compared to February '09
- the number of sales increased by 67.1%
- new listings increased by 17.6%
- total listings declined by 21%
- the benchmark price for all residential properties in the Greater Vancouver area increased 19.7%

Vancouver's fabulous big party - the Olympics - ended with a bang.

******************************************************************Congratulations to John Furlong, other members of VANOC, volunteers and all who organized this wonderful event. It was so fantastic, so much fun for all! The organization it took to stage the Olympics was huge and must sometimes have been daunting but you did it and you did it so well. No doubt the Paralympics will be equilly well organized.

The Olympics created a positive happy atmosphere in Vancouver and made people so much more friendly, co-operative and tolerant. And the last day with Canada's hockey gold medal, a stunning closing ceremony and fireworks made a great end.

Time will tell how many of our Olympic visitors came to like Vancouver so much that they want to return and buy a home.