The Murano Lofts: Phase 2 - Aragon’s finest addition to waterfront living at the Quay in New Westminster. This well known developer captures signature quality finishings throughout the building.  Suites boast 17 foot ceilings, gas fireplaces, Gas stove, granite counters, refurbished fir floors and large balconies with spectacular views. Don’t forget location! location! location!  Only steps from the Boardwalk and minutes from shopping, transit, Sky Train, main transportation routes, restaurants and new park being built at the end of the Quay. 2 Pets allowed and rentals allowed.

“Love the finishings”

“This is one of the nicest complexes I have been in when it comes to finishings. I especially love the reclaimed hardwood floors and brick walls, I felt like I was in a downtown loft, but even better, there is a river view as well. Location is great also, you can walk all along the boardwalk enjoying the river and then do some shopping or have a coffee at the public market.”

“Very Cool”

“I visted a few units in this buidling, Very Cool. I love the feel and finishings. With ultra high ceilings, exposed bricks, granite, stainless etc. not to mention some pretty good views. feels like Yaletown or Downtown, Thes suites I have been in face the river which is a bonus. Inside common areas are very nice. Also I really like the location, just out your front door and you can walk along the boarwalk on the water until you come to the market for your morning coffee etc. In summary, great building.”

If you’d like to see one of these outstanding properties or you are an owner and would like to sell, call James today! 604.315.3300

GREATER VANCOUVER REAL ESTATE STATS - JAN 5, 2010

New Home Information

The BC Government has announced that it will increase the threshold for the new housing rebate from $400,000 to $525,000 for its proposed 12 per cent Harmonized Sales Tax (HST) scheduled to take effect July 1, 2010.

The government has also increased the rebate of the provincial portion of the HST paid on a new home to a maximum of $26,250.

This represents a 30 per cent increase over the original government proposed home price threshold of $400,000 and maximum rebate of $20,000.

In October, 2009, the Board asked the government to raise the threshold for the HST on new homes as well as the new housing rebate.

A similar rebate will also support the construction or substantial renovation of affordable rental housing.

The government has released its proposed Residential Housing New Housing Rebates and Transitional Rules for British Columbia HST, which provides details on new housing rebates including transitional rules for real property. This includes:

Transitional rules: the HST would not apply to sales of new homes where ownership or possession is transferred before July 1, 2010;

Grandparenting: sales of new homes under written agreements of purchase and sale including presales entered into on or before midnight November 18, 2009, would generally not be subject to the provincial portion of the HST, even if both ownership and possession are transferred on or after July 1, 2010. Any home sold on or after November 19, 2009 is subject to HST transitional rules.

For a copy of the new Transitional Rules, visit: http://www.sbr.gov.bc.ca/business/Consumer_Taxes/Harmonized_Sales_Tax/HST_Transitional_Rules.html

After beginning the year at near record low sales levels, buyers’ confidence in the Greater Vancouver housing market quickly returned, allowing for significant and sustained increases in the number of residential property sales for much of 2009.
The Real Estate Board of Greater Vancouver (REBGV) reports that total unit sales of detached, attached and apartment properties in 2009 reached 35,669, a 44.8 per cent increase from the 24,626 unit sales recorded in 2008, but a 6.3 per cent decline from the 38,050 residential sales in 2007.
The number of homes listed for sale on the Multiple Listing Service® (MLS®) in Greater Vancouver declined 15.5 per cent in 2009 to 52,869 compared to the 62,561 properties listed in 2008.
“Low interest rates, an economy emerging from recession and continuing to improve, and consumer confidence led to the resurgence experienced in the Greater Vancouver housing market in 2009,” Scott Russell, REBGV president said. “Home sales neared or passed monthly records in Greater Vancouver throughout the latter half of 2009. In fact, last month’s home sales rank as the third highest selling December in the 90-year history of our organization.”
Residential property sales in Greater Vancouver totalled 2,515 in December 2009, an increase of 172.2 per cent from the 924 sales recorded in December 2008, and an 18.4 per cent decline compared to November 2009 when 3,083 home sales occurred.
The residential benchmark price, as calculated by the MLSLink Housing Price Index®, for Greater Vancouver increased 16.2 per cent to $562,463 between Decembers 2008 and 2009.
New listings for detached, attached and apartment properties in Greater Vancouver totalled 2,153 in December 2009. This represents a 38.9 per cent increase compared to the 1,550 new units listed in December 2008 and a 41.1 per cent decline compared to November 2009 when 3,653 properties were listed.
“The number of homes listed for sale on our MLS® has been in decline in Greater Vancouver for eight of the last nine months, which results in upward pressure on home prices and less selection for buyers to choose from,” Russell said.
Total active listings in Greater Vancouver currently sit at 8,939, a decrease of 41 per cent from December 2008, and a decrease of 19 per cent from November 2009 (see graph on page two for more detail).
Sales of detached properties in December 2009 increased 159.2 per cent to 902, compared to 348 sales in December 2008. The benchmark price for detached properties increased 18.3 per cent to $766,816 compared to December 2008.
Sales of apartment properties in December 2009 increased 176.7 per cent to 1,154, compared to 417 sales in December 2008. The benchmark price of an apartment property increased 14.8 per cent since December 2008 to $382,573.
Attached property sales in December 2009 increased 188.7 per cent to 459, compared with the 159 sales in December 2008. The benchmark price of an attached unit increased 12.9 per cent between Decembers 2008 and 2009 to $478,093.