Vancouver Condo Info

Over at VancouverPeak VMD has updated his SFH battlemap and it’s starting to go monochrome..

This is an entertaining way to track market changes across Vancouver and you can see the color change across the map in relation to earlier posts.

He’s also helpfully marked areas that have switched from positive to negative over the last month.

Looks like the only YOY gains left are in the southeast, losses are showing up everywhere else now.

In other news B5baxter has updated the inventory graph. We’re now showing the highest inventory on the chart for this time of year. Inventory is still growing, but at a slightly slower pace.

Over the last 30 days the average daily increase was: 55
At this rate we would reach 16,000 in 5 days (Mar-12-13)
At this rate we would reach 20,000 in 78 days (May-23-13)
and 25,000 by August 22, 2013
Last year during this same 30 day period the averages was: 57
Last week the average was 56
Thanks PaulB for the numbers!

VMD has been busy over at the new Vancouver Peak Forum uploading new Battle of Vancouver maps.

These maps show the increase or decline in year-over-year REBGV home price index (The Benchmark or HPI).

There are maps for both the condo market and for single family homes in the lower mainland, along with a few historical maps for comparison.

Here’s the map for SFH, showing big changes in South Surrey and UBC:

And here’s the map for Condos, which looks similar but the big changes are in South Surrey but Bull forces are firmly entrenched in Guilford and Pitt Meadows.

Here’s the original discussion thread for the Condo map and for the SFH map.

You can find more great creations and analysis from VMD over at greaterfoolvancouver.

Remember when a million dollars was real money?

It’s always fun to compare what your Vancouver home dollars will get you in less fortunate countries.

A commenter by the name of mortgage posted this delightful contrast.

Here’s what $2.5 million will get you on a major street in the Cambie corridor, walking distance from the world famous ‘Oakridge Center Mall’.  This 1948 beauty is located near the vibrant heart of Vancouver, where the sun always shines:

Somewhat south of there is a place called Beverly Hills California.  If you take your $2.5 million down there you’ll find something like Dudley Moores old digs:

..but you wouldn’t be walking distance to Oakridge Mall.  They have a Zellers.

With more and more noise in the news lately about falling sales and prices in the Vancouver real estate market developers are getting creative.

When even the real estate industry predicts prices to be lower in the future how do you sell new condos?

How about offering a $100k price drop guarantee?

Crabman points out that’s what the Kimpton in North Van is offering.

It’s not entirely clear how it works, but lets assume they don’t mean that they guarantee prices will drop $100k in the next two years.

“New guaranteed prices are what you will pay today and are net of the $100,000 price protection guarantee provided by the developer and registered on the title on closing”

Here’s the ad:

And here’s a shot of the sign currently on the building exterior:

This is certainly an interesting alternative to the many stealth price drops that we usually see: free car, etc.

What do you think? If you’re looking to buy but concerned about falling prices would the price drop guarantee make you more willing to purchase?

Haven’t you always wanted to see housing market data presented as an exciting battle map?

Somewhat more exciting than your average excel sheet, VMD has started a Battle of Vancouver thread over at Vancouverpeak.com where he’s got maps showing the ups and downs of the market for condos and single family homes.

It’s interesting that you really get a sense of things changing on the periphery first.

There’s a stripe of red in the centre where prices are still up year over year. Here’s the map for Single Family Homes:

There’s a similar thing happening in Condo prices, although more areas are Year over Year negative there.  Oh, and for extra excitement on this map there’s TANKS! (each tank represents a single percent point up or down):

Click here to view the full thread on Vancouverpeak.com

..And if you have stuff to share over there, here are a few more invite codes to register for a user account:

p3k0-icze-u2up
yktv-exfc-01ge
2pss-bm1u-2lhp
fpc5-sef1-42bu
vaw6-smid-p49u
30v5-2sfh-6ozj
xukn-ohyt-qkac
k3oq-6jj9-1de2
9mjt-op5r-1vwp
sknv-ook0-sqpj

Vancouver, being part of the west coast, is equally criticized and applauded for its youth. Civilization as we know it barely spans two centuries in this corner of the world, and while that can generate a sense of dawning opportunity and exuberance, it also means that we sometimes lack the refinement, conscience, and depth of a European city.

This criticism is often leveled at Vancouver’s architecture. It’s true that we have yet to build our Notre Dame. The city is not without highlights, however, and I’ve spent many an evening ambulating among them. Here is a favourite from one such stroll:

(more…)

We had a post a little while back about one of the reasons we see so many leaky condos around here: Improper installation of the wrong electrical boxes on exterior walls.

Robert Funk has sent in an updated informational PDF showing a simplified view of the right and wrong electrical boxes for exterior use.

And now he’s requesting pictures of any electrical boxes on exterior walls before lights or plugs are installed. If you can get any shots from construction projects around you he would very much appreciate them before Monday Aug 27th.

Here’s an example of an electrical box installed on an external wall:

The shots he’s requesting are closeup of those installations:

(more…)

We received this PDF from Robert Funk, a building technologist who specializes in four story wood frame envelope failure.

Robert says that despite the Leaky condo crisis across the lower mainland we’re still building condos that will have water problems.

Here’s an excerpt and a few pictures from the PDF, download the full PDF here for the complete story.

Vancouver has a problem with affordable housing.

No matter where you place the blame: speculators, easy credit, housing bubble, foreign buyers – the problem remains.

As a first time buyer how do you get into the market?

How about one cubic foot at a time?

It can be tough to afford a 580 sq ft one bedroom apartment for $415,000 but anyone can find an extra $199 to get that first cubic foot and get in now!

It’s Real Estate 3.0!

This was posted as a submission to the reTHINK housing competition from the City of Vancouver and already the rave reviews are pouring in:

Doug Farmer says:

4 stars – Very outside the box thinking about something inside the box. Has 21st century written all over it.

Our friend YVR Housing Analyst says

A thoughtful submission. I like how they can stack; I, for one, would first have tried spheres.

And Flo says

This is the least creative solution I have seen submitted. I feel hopeless about my future just looking at this.
I agree with arch. This is not the kind of architectural experience that sustains a human soul.

So don’t miss out on your opportunity.  Get your single square foot in the market today!

Growing weary of watching the slow-as-paint daily moves of the real estate market?

Tired of hearing the back-and-forth prognostications of experts proclaiming endless riches / impending collapse?

How about some humor to pass the time?

Some great lines if you click through the slideshow

“Never imagined you’d be 35, married with two kids, and working a job you can’t stand in a town you once vowed to leave? Then this 3-bedroom, 2.5-bath suburban monument to averageness is for you! Easy access to strip malls, chain restaurants, and charming walking trails for quiet sobbing. Reference number 4JF389″

…. and so on.