MADDOX DOWNTOWN - New development by Cressey

Cressey has announced it will launch this spring a 32 storey building at the corner of Howe and Drake. MADDOX will be close to two other Cressey developments: ELAN @ 1255 Seymour (completion 2006) and DONOVAN @ 1055 Richards (completion 2008/2009) which both have luxurious finishes.

The MADDOX condos will range in size from 498 to 1,576 sq ft.

Are you interested in buying a condo in this development? Contact me and I will keep you informed of the progress and assist you in selecting the condo that meets your requirements best whether you are looking for a home for yourself or an investment property.

To view a map with the location of new and newer buildings go to http://www.vancouvercondos-net

Rental market is strong

The rental market for condos and detached homes is strong. The low supply on Craigslist is a great barometer and rental realtors confirm that there not sufficient supply. Great news for investors! See http://www.vancouver-condos.net if you are interested in investing in a condo and http://www.christinelouw.com to browse detached home listings.

Vancouver real estate market statistics for February 2011

The Real Estate Board just released their most recent statistical information which shows that
- listings, sales and demand have increased in the first two months of 2011 and
- that some areas and categories of real estate (notably detached homes in Richmond and Vancouver Westside) have seen considerably more activity than others.

In February 2011

• the number of sales increased by 70.3% compared to January 2011 and by 25.5% compared to February 2010.
• new listings increased by 23.6% compared to February 2010 and the total number of listings increased by 5%
• the 12 month increase of the benchmark price of detached homes was 6%, of condos was 2.2% and of townhomes was 2.3%.

Statistics are not the same for all areas. Contact me if you like to know what properties sold in the last 60 days in your immediate area. Your property may be worth more than you think!

If you like to browse yourself to see current asking prices visit my websites
www.vancouver-condos.net
www.coalharbourcondos.info
www.falsecreeknorthcondos.com
www.christinelouw.com for homes

Bank of Canada held its overnight rate

This morning the Bank of Canada held the overnight (interest) rate at 1 percent. The overnight rate has a substantial influence on mortgage interest rates. The statement released with the decision noted the improved outlook for the Canadian economy but also the escalating geopolitical risk and the challenge to export by the rising Can dollar. The Vancouver market is increasingly active in all price ranges. On 18 March the maximum amortization period for high ratio mortgages (mortgage for more than 80 percent of the purchase price/appraised value) will be reduced from 35 to 30 years. Buyers who remove subjects before 18 March have access to the 35 year amortization period. This change will mainly affect purchases in the lower price ranges and likely not to a significant degree. At the moment this segment of the market is very active with quick sales and multiple offers; remains to be seen if this activity is in anticipation of the 18 March change or just part of the general increase of demand. For mortgage rate information see "Resources" at http://www.vancouver-condos.net and "Statistics" at http://www.coalharbourcondos.info

KITS360 - new affordable development on Fairview/Kits border

Just announced. Previews to start in March. Location: 1777 W 7th, Fairview - close to Burrard and transit Developer: Intergulf Development Group Construction: concrete, outdoor space with units, stone counters, laminate flooring, stainless steel appliances. Views: False Creek, English Bay, Downtown, Northshore mountains Price: starting from $349,900 Please contact me at 604 926 3936 if you like to receive more information about these or any other properties. Information as provided by the developer's representative. http://www.vancouver-condos.net

Vancouver real estate market statistics for January 2011

According to the Real Estate Board of Greater Vancouver in January 2011 compared to January 2010

• the number of sales decreased by 5.4%


• new listings decreased by 6.7%


• the total number of listings increased by 2.2%


• the benchmark price of condos increased by 1.4%, of detached homes by 2.7% and of townhomes by 2.6% However both Richmond and Vancouver West saw a strong seller's market - the price of detached homes in Richmond increased by 22.6% and in Vancouver West by 12.2%.

The stronger market in Richmond and Vancouver West must be due to the obvious increase of Asian buyers in Vancouver who predominantly prefer and buy detached homes in these two areas. For the full statistical report of the GVREB visit http://www.vancouver-condos.net and go to market trends.

Condos and views near Park Royal Mall in West Vancouver

Across the road from the West Vancouver mall are great condos located ranging in price mostly between $700K and $3 mil.

http://www.vancouver-condos.net/mls_west-vancouver-condos_park-royal.html

Beautiful spacious condos. Very convenient location, no car required; shops and transit on your doorstep. And for those who buy into the building at 605 Clyde Ave there is also access to the facilities of the retirement development by Amici.

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Proposed development surge in BC Place vicinity.

Proposals are before Vancouver Municipality which would see several new developments in the area near BC Place, Flagship, Mariner and Cooper's Lookout and Pointe. - the largest casino in western Canada with two hotel towers - four high rise towers with almost 900 condos

Later this year two more developers are expected to bring forward proposals for additional residential units in the area. These proposals are very positive as they signal a high level of confidence in the local economy and the prospect of substantial job creation.

www.christinelouw.com www.falsecreeknorthcondos.com www.vancouver-condos.net

Important mortgage rule changes

Finance minister Jim Flaherty has made changes to the rules governing mortgage financing which will be effective from 18 March 2011 onwards: - the maximum amortization period for high ratio mortgages (in excess of 80% of the property value) has been reduced from 35 to 30 years - maximum loan to value (LTV) of refinances has been reduced from 90 to 85% - maximum financing on HELOC (line of credit products) reduced to 80% LTV There is still some time to buy your new property and complete by 17 March to take advantage of the present mortgage rules. www.christinelouw.com

THALIA - another stunning development by James Schouw of "Grace"

In 2013 another architectural masterpiece by James Schouw will complete at the cnr of Cambie and Smithe in downtown Vancouver. THALIA will have twenty eight residential condos on the 5th to 17th floor - mostly priced between CAD 1.1 and 1.6 mil - ranging from 1,275 to 3,200 sq ft (2 bedrooms+den and 3 bedrooms+den) - with 12 foot ceilings, 8 foot doors - geo thermal heating and cooling - and top of the line finishes - exclusive features like a bio metric finger print security system, fully automated parking system (no ramps), a Home Automation System and the use of a Rolls Royce Phantom Sedan as well as bikes.

If you like "Grace" (cnr Richards and Drake) you will love "THALIA" located close to Yaletown restaurants, the Queen Elizabeth theatre and a short walk from the seawall. Pre-sales have started. Please contact me if you are interested in purchasing a condo in impresive THALIA or like to receive additional information. 604 926 3936, christinelouw@shaw.ca www.vancouver-condos.net