Vancouver Real Estate
Anne's Real Estate Update - February 2020

In This Issue:

The Vancouver Sun
Dan Fumano: Why falling property assessments won't mean lower property taxes

The Vancouver Sun
Derrick Penner: Metro Vancouver posted record housing construction in midst of falling prices

Curiocity
Canada Was Just Ranked As The 2nd Best Country In The World

The Institute for Luxury Home Marketing®
Buying A Home Is An Escalator To Wealth

Sotheby's International Real Estate Canada

2019 Year-end Top-Tier Real Estate Report (Market Updates - January 15, 2020)

PRE-SALES Contact me if you are interested in getting into the pre-sale market. PRE-SALES

Properties for Sale

AVENUE ONE: 504 - 1768 Cook Street, Vancouver (Yaletown)

Latest Properties Sold

406 - 523 West King Edward Avenue, Vancouver
1009 - 1618 Quebec street, Vancouver

CLICK HERE to view the properties.

Anne Mainwaring has achieved
MLS MEDALLION CLUB Status 2018 & 2019

Anne Mainwaring has earned the
Certified Luxury Home Marketing Specialist® designation from
The Institute for Luxury Home Marketing®

Testimonials
Testimonial Letters from Home Buyers & Home Sellers

LIVE Inspired: Sotheby's International Realty Canada
Luxury is an experience, not a price.

My Commitment To You
How I will facilitate your property sales & acquisitions. It can be a great experience!

SnapStats - Metro Vancouver & Greater Vancouver January 2020
The Two New SnapStats Packages

Real Estate Board of Greater Vancouver - January 2020
Home sale activity up, supply down to start 2020

Previous Issues
CLICK HERE to view previous issues of Anne's Real Estate Update

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Vancouver Sun - Dan Fumano
Why falling property assessments won't mean lower property taxes

Every year, whether land values are going up or down, experts working in the field say the same confusion persists about the relationship between property assessments and taxes.

And this year, the confusion may be particularly widespread. That’s because while last year’s assessments saw declines in the upper end of Vancouver’s housing market, 2020 marks only the fifth time since B.C. Assessment’s inception in 1974 — and the first time in 20 years — that the province’s assessed values saw an overall decline. (B.C.’s overall assessment values also decreased in 2000, 1999, 1987 and 1983)....

[ Continued... ]

CLICK HERE to view the full article.

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Vancouver Sun - Derrick Penner
Metro Vancouver posted record housing construction in midst of falling prices

Metro Vancouver saw record levels of housing starts in 2019, suggesting the market is “finding its footing” after a period of declining sales and falling prices, according to reports Thursday.

Canada Mortgage and Housing (CMHC) reported that Metro saw developers start construction on 28,141 new homes in 2019, up 20 per cent from 2018, with a substantial number of those, some 6,727, purpose-built rental units...

[ Continued... ]

CLICK HERE to view the full article.

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CurioCity
Canada Was Just Ranked As The 2nd Best Country In The World

Everyone give themselves a little pat on the back because Canada has been ranked as the 2nd best country in the world.

The 2020 Best Countries Report has just been released, and our Canada climbed the ranks to finish behind Switzerland and no one else. Well done, peeps!

The ranking is an annual project done by U.S. News & World Report, the Wharton School of Business from the University of Pennsylvania, and BAV Group.

A total of 73 countries were compared across a variety of categories to determine their final ranking...

[ Continued... ]

CLICK HERE to view the full article.

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BUYING A HOME IS AN ESCALATOR TO WEALTH
Extract from The Institute for Luxury Home Marketing®

Buying an upper-tier home still offers an escalator to wealth. This is despite of the slowing of the luxury market and people questioning the value of home ownership. David Bach, author of “The Automatic Millionaire” that spent 31 weeks on the New York Times bestseller list, states on his website.

“THE FACT IS, YOU AREN’T REALLY IN THE GAME OF BUILDING WEALTH UNTIL YOU OWN SOME REAL ESTATE.”

Affluent buyers wanting to live in expensive cities are recognizing that they can avoid the heavy taxes. Accessibility to smaller but cleverly designed space-saving properties is creating a new niche.

Growth in luxury property purchase has also increased in markets outside of the top metropolitan areas. Mainly driven by those able to work from home as well as the added attraction of many towns experiencing revitalization.

Keeping up with the trends and shifting buyer interests are just some of the ways to understand how to maximize the opportunity of the luxury real estate market.

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2019 Year-end Top-Tier Real Estate Report
Sotheby's International Real Estate Canada
Market Updates - January 15, 2020

According to Sotheby’s International Realty Canada’s 2019 Year-End Top-Tier Real Estate Report, Canada’s two largest top-tier metropolitan real estate markets rallied in 2019, gaining steady traction throughout the year. After a tentative start to 2019, the Greater Toronto Area (GTA) led the country in top-tier real estate performance with consistent and confident increases in sales activity and pricing, bolstered by the region’s strong population gains, healthy economic growth and robust labour market.

Vancouver overcame several years of uncertainty fostered by ongoing government and regulatory interventions to see revitalized confidence and activity in the $1 million-plus real estate market by the last half of 2019. Montreal’s luxury real estate market achieved notable milestones in its condominium sector in 2019, and the city set new records in top-tier market performance. Despite improvements in the market for real estate under $500,000, Calgary’s uneven economic performance and political turbulence dampened a top-tier market already burdened with supply; as a result, recovery continued to lag.

Record-setting population gains in Canada’s largest urban areas were pivotal drivers of the conventional and top-tier housing markets, absorbing inventory and expanding the long-term foundation for local housing demand.

Furthermore, the decade-long financial bull market and its bouts of recent unpredictability are growing influences on the Canadian top-tier real estate market. Underlying consumer anxiety regarding future financial market performance has increased demand for top-tier real estate as an asset to diversify portfolios, hedge against inflation, and buffer against risk.

Vancouver
Following several years of lackluster performance, the City of Vancouver’s top-tier real estate market recovered in the latter half of 2019. Activity resumed as prospective buyers and sellers returned from the sidelines to engage in the market with a willingness to calibrate prices to match current conditions.

Overall $1 million-plus residential real estate sales in Vancouver were down 6% in 2019 from 2018 levels, while sales over $4 million declined 25%. However, activity in the last half of 2019 reflected a strengthening top-tier market as sales over $1 million increased 37% year-over-year, led by notable gains in the city’s single family and attached home segments.

Calgary
The City of Calgary’s top-tier market faltered with building economic and political anxiety leading up to and following the provincial and federal elections. Residential real estate sales over $1 million decreased 13% from 2018 levels overall; however, sales in the latter half of the year reflected a milder 2% decline from the same period in 2018.

[CONTINUED...]

CLICK HERE to view to complete article.

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New Listings

Avenue ONE by Concord Pacific
1768 Cook Street, Vancouver West, BC
Listed at: $1,628,000

2 Bedroom, 2 Bath & Den with large, outdoor living room at AVENUE ONE by CONCORD PACIFIC with amazing VIEWS!
Rare corner condo with wrap around balcony.

Click HERE to view the listing

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Recent Sales

SOLD: The Regent at Cambie & King Edward
406 - 523 West King Edward Avenue, Vancouver
Listed at: $739,000

Click HERE to view the listing

SOLD: SPACIOUS 1 BR PLUS DEN CONDO
1009 - 1618 Quebec Street, Vancouver
Listed at: $ 799,000

CLICK HERE to view the listing

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MLS MEDALLION CLUB MEMBER

Each year the Real Estate Board of Greater Vancouver (REBGV) celebrates the achievements of its top-producing Realtors on the Multiple Listing Service (MLS®) with the Medallion Club Awards.

The Medallion Club represents the top 10 per cent of the more than 14,000 members participating on the MLS® in the region.

Anne Mainwaring achieved this status for 2018 and 2019.

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Not All Agents Are Equal

The Institute for Luxury Home Marketing® is pleased to announce that Anne Mainwaring has earned the Certified Luxury Home Marketing Specialist® designation after completing extensive training, and having accomplished a proven performance in the upper tier market, she has also received the MILLION DOLLAR GUILD® award from The Institute.

As a Certified Luxury Home Marketing Specialist®, Anne utilities her membership in an international network of real estate professionals and superb diligence to get you the results you want. With this added distinction, you can turn to Anne with even more confidence for guidance, advice and quality of service you expect in the upper-tier market.

Whether you are a first time home buyer, experienced investor, deciding to "right size" or relocate to the Metro Vancouver area, count on Anne's expertise in the residential home, condo, town home, ½ duplex or presale markets.

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Testimonials

Spacious West End Condo with Water View

After a very long period of time of no success with a different agency, Anne gave us confidence in all matters concerning the sale of our apartment, particularly in the declining market. She was delightful, frank, helpful, and personable. She applied herself fully to help make the apartment most attractive to buyers, and was able to accent all the positive features of our home. She was savvy in her negotiations when offers were made. We are so happy about having had such a positive experience with Anne and we will forever be thankful for the work she did. We have already recommended Anne to several people who are interested in selling.

-M. DB & A.G. - Vancouver

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The location, the style, the feeling you get when you walk through the door – every aspect of your home should be a reflection of who you are, where you’ve been, and the life you aspire to live. Your best life begins with a home that inspires you.

Sotheby's: Luxury is an Experience, Not a Price

We, at Sotheby's, are very proud to have represented the purchase and sale of some of the most luxurious homes in Canada. As a brand, we have represented some of the most luxurious homes in the world. With that success comes a challenge and the challenge is that some people feel that we only represent homes at the highest end of the value range. While we are particularly well known for the luxury homes we represent and we also proudly represent homes at a wide range of values.

For us, luxury is an experience and not a price. Let me give you an example.

When you go to a store like Tiffany's & Co, you receive the exact same customer experience regardless of whether the item you are purchasing is worth a few hundred dollars or tens of thousands of dollars. Each purchase is placed in one of their iconic robin's egg blue box, wrapped with ribbon and placed in one of their signature bag. It is a memorable experience. It is an experience that makes you feel good about the purchase.

For most people, their home is their most prized possession. It is where a couple may have come together for the first time, its where children were born and raised its where the entire family has worked diligently to convert a house into a home.

We believe every home has a story and that our job is to artfully tell that story using the tools that we have developed working with some of the incredibly iconic properties and some of the most discerning clients.

We believe, that everyone deserves a luxurious experience when they buy or sell a home. Let us show you how our people can that same creativity and passion to a home just like yours. After all, we think that you and your home deserve the best.

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GET RESULTS WITH ANNE ON YOUR SIDE

My Commitment To You

In addition to the standard service offered by Realtors®, I will write a LIFESTYLE STORY, BRAND your house and SHOWCASE it. This includes:

FREE staging services: I will create an ideal environment for future buyers to imagine themselves in this new space and make it very inviting and welcoming.
HIGH-DEFINITION PICTURES: The use of a professional photographer and 20 High-definition pictures to showcase your home.
The creation of a HIGH-END VIDEO of your property, including drone imaging. Having Sight , Sound and Motion will allow to transport the consumers into your home. This will highlight the lifestyle associated to living in your neighbourhood area and features its benefits. A video tells best the story of your home.
Thick glossy brochures with high-definition pictures, floor plan and description of your property

For a successful sale, I will leverage my Experience and Expertise in a very competitive market by:

Helping you reach the Local, Asian, American and European markets with language proficiency in English, Mandarin and French. .
Advertising in the major local newspapers and send out newsletters and flyers to promote your property. Putting a sign on your lawn is just the beginning: I spend lots of my costs to “PUSH” your property to get it sold in the fastest time frame. This includes comprehensive social media integration and direct email to the top 1,000 most active local realtors.
Offering “boutique” service, and am committed to personally (no realtor's assistant) showing your house at the Open Houses and each appointment request.
Negotiating on your behalf to ensure that you receive the highest possible sale price for your home.
Warranting you to receive full transparency and open communication through the entire process.
Providing a Personal & Courteous service.

Other ancillary services that I can assist you with include:

Arranging for owners rent back
Having access to architects/designers/ builders/ trade people (painting, flooring, plumbing and electrical).
Leveraging my expanded referral network and partners:
- CPA: Tax strategies and investment planning
- LAWYERS: Advice and guidance for your investments
- FINANCING: Creative loan solutions for local and international buyers

Why use Sotheby’s International Realty Canada?

Sotheby’s offers UNPARALLELED MARKETING REACH AND ADVANTAGES.

Sotheby’s International Realty Canada is currently the most trusted name in real estate bringing instant credibility and recognition with Buyers and Sellers, reaching the most influential group of people in the world.

Sotheby’s International Realty extends an extraordinary name in real estate and in the luxury world.
Luxury is in Sotheby’s DNA: has sold most cherished valuable in the world and is truly a unique global luxury brand.

GLOBAL EXPOSURE on many platforms: sothebysrealty.com and the cascading websites.

In 2017: Sothebyrealty.com reached One Billion views.
Already in 2016, Sotheby’s engaged 1/7th of the world!
Juwai.com. - All our properties are featured on Juwai (the #1 real estate site in China for a total of 21,414 impressions in 2016 on our company page).
Sotheby's offers a powerful network of 20,000 agents and 869 offices in 67 countries worldwide giving access to affluent community of buyers.

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SnapStats
The New SnapStats Packages for Greater Vancouver & Metro Vancouver

The Complete January 2020 Metro & Greater Vancouver Reports:

CLICK HERE for the Metro Vancouver SnapStats Report.

CLICK HERE for the Greater Vancouver SnapStats Report.

SnapStats brings simplicity and clarity to complex real estate data and statistics. You’ll know which neighbourhoods are hot, what home types and size are in demand, detailed inventory info, asking and sale prices, average time spent on market, and many more useful details and figures—all broken down in a clear, single page customized with your name and contact information.

SnapStats’ charts, tables and graphs are simple to understand. In minutes, you’ll see market trends, sales to active listing ratio, month-to-month comparisons, and much more. They’re broken down using all sorts of relevant factors—including price range, neighbourhood, bedroom number, and much more. This gives you the amazing ability to pinpoint trends and statistics customized to your personal needs.

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Home sale activity up, supply down to start 2020
February 4, 2020

Home sale and price activity remained steady in Metro Vancouver to start 2020 while home listing activity declined in January.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,571 in January 2020, a 42.4 per cent increase from the 1,103 sales recorded in January 2019, and a 22.1 per cent decrease from the 2,016 homes sold in December 2019.

Last month’s sales were 7.3 per cent below the 10-year January sales average.

“We’ve begun 2020 with steady home buyer demand that tracks close to the region’s long-term average,” Ashley Smith, REBGV president said. “Looking at supply, we’re seeing fewer homes listed for sale than is typical for this time of year. As we approach the traditionally more active spring market, we’ll keep a close eye on supply to see if the number of homes being listed is keeping pace with demand.”

There were 3,872 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in January 2020. This represents a 20.1 per cent decrease compared to the 4,848 homes listed in January 2019 and a 143.8 per cent increase compared to December 2019 when 1,588 homes were listed.

Last month’s new listings were 17.4 per cent below January’s 10-year average.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 8,617, a 20.3 per cent decrease compared to January 2019 (10,808) and a 0.2 per cent increase compared to December 2019 (8,603), and is 13.7 per cent below the 10-year January average.

For all property types, the sales-to-active listings ratio for January 2020 is 18.2 per cent. By property type, the ratio is 11.6 per cent for detached homes, 22.6 per cent for townhomes, and 23.9 per cent for apartments.

Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,008,700. This represents a 1.2 per cent decrease over January 2019, a 1.4 per cent increase over the past six months, and a 0.8 per cent increase compared to December 2019.

Sales of detached homes in January 2020 reached 439, a 29.5 per cent increase from the 339 detached sales recorded in January 2019. The benchmark price for detached properties is $1,431,200. This represents a 1.7 per cent decrease from January 2019, a one per cent increase over the past six months, and a 0.5 per cent increase compared to December 2019.

Sales of apartment homes reached 814 in January 2020, a 45.6 per cent increase compared to the 559 sales in January 2019. The benchmark price of an apartment property is $663,200. This represents a one per cent decrease from January 2019, a 1.5 per cent increase over the past six months, and a one per cent increase compared to December 2019.

Attached home sales in January 2020 totalled 318, a 55.1 per cent increase compared to the 205 sales in January 2019. The benchmark price of an attached unit is $782,500. This represents a 0.7 per cent decrease from January 2019, a 1.6 per cent increase over the past six months, and a 0.5 per cent increase compared to December 2019.

CLICK HERE to view the complete REBGV stats package.

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Anne Mainwaring REALTOR · 5660 Yew Street · Vancouver, BC V6M 3Y3 · Canada

PRE-SALES Contact me if you are interested in getting into the pre-sale market. PRE-SALES

CLICK HERE to view the properties.

Vancouver Sun - Dan Fumano Why falling property assessments won't mean lower property taxes

Vancouver Sun - Derrick Penner Metro Vancouver posted record housing construction in midst of falling prices

Spacious West End Condo with Water View

The location, the style, the feeling you get when you walk through the door – every aspect of your home should be a reflection of who you are, where you’ve been, and the life you aspire to live. Your best life begins with a home that inspires you.

Sotheby's: Luxury is an Experience, Not a Price

Vancouver Sun - Dan Fumano
Why falling property assessments won't mean lower property taxes

Vancouver Sun - Derrick Penner
Metro Vancouver posted record housing construction in midst of falling prices