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Anne's Real Estate Update - October 2020
Sotheby's International Realty Canada

 
All over the news, we have been informed that Metro Vancouver real estate continues to see increased sales activity since April 2020. 

However, when you analyze the data more deeply, the price range and speed of sale differs strongly depending on the type of home and the neighborhood. In addition, as a result of Covid-19, buyers are much more specific in their housing preferences.

It is interesting to note how some markets and type of homes are clearly showing signs of market adjustment and serious price decreases, while other market and home segments have prices back to pre-Covid-19 levels, well ahead of schedule due to pent-up demand, low inventory levels and record low interest rates.

The economic/recession situation, the elections, the flow of immigrants and the evolution of the Covid-19 virus are on top of people's minds and nowadays it is harder and harder to predict the future, so history might not be as useful a guide as in the past.  As the September 2020 BCREA market intelligence stated: "If you have to forecast, forecast often." applies now more than ever. 

Need help or have a question?  Please contact me.
 
IN THIS ISSUE:
BC Real Estate Association (BCREA)
The Unusual World of Pandemic Economics

South China Morning Post
Presales in Hong Kong sell out in days at US$1,806.00 per square foot!
Henderson’s Seacoast Royale project in Tuen Mun a hit as homebuyers snap up all flats in phase two sale

Visual Capitalist
The 100 Most Popular City Destinations  (Vancouver is rated at #69)
Properties for Sale
801 - 2069 East 7th Avenue
504 - 1688 Cook Street - AVENUE ONE by Concord Pacific


Latest Properties Sold
2706 - 688 Abbott Street
407 - 1330 Harwood Street
707 - 298 East 11th Avenue


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 September 2020
The Two New SnapStats Packages

Real Estate Board of Greater Vancouver - September 2020
Metro Vancouver home sales and listings surge in September



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


PRE-SALES   Contact me if you're interested in the pre-sale market.



NOTE: Some links within this document are not supported by Apple IOS and Android operating systems. Please scroll down manually.

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The Unusual World of Pandemic Economics

Summary Findings
  • This is not a typical recession
  • This recession has not been felt uniformly across the economy; jobs in high-wage sectors have not been impacted as much as others
  • Swift response from fiscal and monetary policy has helped to boost housing demand and temper financial vulnerability
  • Social distancing to stem the spread of COVID-19 prompted a negative supply shock to listings; as demand rebounded, prices felt upward pressure

Introduction
The COVID-19 recession has battered many sectors of the BC economy. However, looking at recent data in the housing market, it would be difficult to tell there was a recession at all. In a typical recession, housing sales decline as job losses and heightened uncertainty prompt potential buyers to pull back from the market. At the same time, the supply of ...

[Continued...]

CLICK HERE to view the complete article (5 pages PDF).
 
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South China Morning Post 
Henderson’s Seacoast Royale project in Tuen Mun a hit as homebuyers snap up all flats in phase two sale


Homebuyers shrugged off economic uncertainty posed by the third wave of coronavirus sweeping Hong Kong, buying all 185 flats on offer at Henderson Land Development’s Seacoast Royale project in Tuen Mun.

Property agents said the sell-out was never in doubt as the developer received as many as 9,500 registrations of intent, which means an average of 51 individuals put down deposits to qualify to bid for each of the flats on offer.

The flats on sale on Sunday fetched an average of around HK$14,000 (US$1,806) per square foot, slightly higher than the HK$13,638 per sq ft during the first batch on August 1 when the same number of units were on offer.

[Continued...]

CLICK HERE to read the full article.

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Visual Capitalist 
The 100 Most Popular City Destinations

The pandemic has grounded many of us, but it can’t curb human wanderlust.

Cities like Hong Kong, Bangkok, and London have led city destination rankings for years, but movement within the ranks below them—revealed in the above infographic—help to highlight the intriguing travel trends happening before COVID-19.

With data from Euromonitor International’s 2019 travel report, we can uncover where travelers are likely headed once their passports are useful again. Pulling data from 400 cities, collected into mid-2019, the report encompasses millions of international travelers who stayed at their destination longer than 24 hours.

[Continued...]

CLICK HERE to read the full article.

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Active Listings
Superb Outdoor Space
801 - 209 East 7th Avenue, Vancouver BC
Listed at: $1,799,000 


Click HERE to view the listing
AVENUE ONE by Concord Pacific
504 - 1688 Cook Street, Vancouver BC
Listed at: $1,628,000


Click HERE to view the listing
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Recent Sales
Fantastic NW CORNER - 27th Floor
2706 - 688 Abbott Street, Vancouver BC
Listed at: $898,000


Click HERE to view the listing
SOLD:   The Essence of Lifestyle 
407 - 1330 Harwood Street, Vancouver BC
Listed at: $549,000 


Click HERE to view the listing
 
SOLD:   VIEWS of Burrard Inlet, False Creek,
N. Shore Mtns. & Downtown

707 - 298 East 11th Avenue, Vancouver BC
Listed at: $598,000 


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
In this life you will need a good doctor, a good dentist, a good lawyer, a good accountant and an honest garage mechanic.  Equally vital but less often, you’ll need a good real estate agent.

If you have Anne Mainwaring, you will count your lucky stars because it’s the difference between an Alpha Romeo and a Dodge Dart. She will listen very carefully to what you want, sleuth exhaustively on your behalf, negotiate very shrewdly on your behalf, bring you treats and make you laugh along the way, and she'll take control of countless details that you (and likely the other realtor) have completely overlooked. You are therefore going to feel very safe and empowered. 

My wife wanted us to move after 38 years on a perfect street; I was not keen to downsize. Having Anne on our side made all the difference. I was able to open my mind to a major change in my life because my wife and Anne made a brilliant team; and I mostly watched. Anne is a sophisticated person in terms of manners, she is split-second smart, she is chronically alert and she clearly knows the market with a zealous zest for numbers, trends and new listings. I knew in a few minutes I could trust her and – here I’ll be blunt – I instinctively realized that every opposing realtor with whom we were going to cross paths was going to be intimidated.

My instincts were right on all counts. We actually had fun selling our house. In a hesitant and wavering market, it sold above asking price in one day and she found us a superb townhouse that we purchased eight days later. On all fronts, we were completely satisfied.

If you go to court, you are going to want to have the best lawyer. If you are having brain surgery, you want the best surgeon. If you are going to buy or sell your house… well, you do not want just any Tom, Dick or Harriet.

––  Alan T.


CLICK HERE for more testimonials.
Buying or selling a house is (obviously) a major financial and personnel decision for most people.  My wife and I have been through the process five times in the past 10 years with four different real estate agents in two major Canadian cities.  We had such a fantastic experience with Anne that I recommended her to a friend when he was considering selling his house.  We greatly appreciated the quality of her real estate services.  This is why I recommend Anne.

Anne has an understanding of the Vancouver, Canadian and International housing market.  She appreciates that a house is an investment, as well as a home.  She understands the big picture and pays attention to the smallest of details.

When my wife and I interviewed her to determine if we wanted her to sell our house for us, she took us through the process she would use.  Based on the interview we decided to hire her.  She made a number of promises during the interview and she kept all of them as our agent.

She informed us what she would do and what we would have to do.  She worked hard and thoughtfully for us and so did the people with who she works (e.g. photographer).  The process was educational and fun too.  Our house was priced competitively, and fairly, and sold for above asking.

We trusted Anne so much that we recommended her a friend who was thinking of selling his house.  He picked her as his agent too and had a great experience.  Anne also identified and interviewed a Sotheby’s agent for us to consider in the city to which we were moving.  We decided to select the agent she identified and had a very good experience with her too.

I recommend Anne without reservation.

––  Giselle & Aaron


CLICK HERE for more testimonials.
First Time Condo Buyer

When I was finally ready to enter the Vancouver real estate market, I reached out to Anne based on the good experience my previous landlords had with Anne when selling their home.

I knew right from our first meeting that it was the right decision to select Anne to help me through the home-buying process. She listened attentively and made a list of what I was looking for and immediately sent me some listings that same day. At every showing Anne was very prepared and was very honest with her opinion on the units we were viewing. Anne truly cared about me being happy with the condo I would buy both in the short and long term. She would point out if the view would likely be obstructed in the future by a new building or whether noise would likely be an issue based on the proximity to the delivery drop-off area of a grocery store.

She was also very knowledgeable about what developers built quality condo units. She would review the buyer documents carefully and point out any red flags so that I was fully informed before making an offer. When I made offers, she was a very shrewd negotiator. She truly cared about me not paying more than a condo was worth based on the current market conditions. Anne was very responsive whenever I would email or text and made me feel as though I was her only client. Anne's integrity shone through the process and led me to buying a condo I love.

I have never written a testimonial before, but I have no hesitation in recommending Anne to anyone. I am very grateful to have had Anne by my side as I made the biggest financial decision of my lifetime.

––  Maureen M.


CLICK HERE for more testimonials.
Sotheby's International Realty: Luxury is an Experience, Not a Price

We, at Sotheby's International Realty are very proud to have represented the purchase and sales 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. 
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:
  1. 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.
  2. HIGH-DEFINITION PICTURES: The use of a professional photographer and 20 High-definition pictures to showcase your home.
  3. 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. 
  4. 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:
  1. Helping you reach the Local, Asian, American and European markets with language proficiency in English, Mandarin and French.     .
  2. 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.
  3. Offering “boutique” service, and am committed to personally (no realtor's assistant) showing your house at the Open Houses and each appointment request. 
  4. Negotiating on your behalf to ensure that you receive the highest possible sale price for your home. 
  5. Warranting you to receive full transparency and open communication through the entire process.
  6. Providing a Personal & Courteous service. 

Other ancillary services that I can assist you with include:  
  1. Arranging for owners rent back
  2. Having access to architects/designers/ builders/ trade people (painting, flooring, plumbing and electrical). 
  3. 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 Q1 2020: Sothebyrealty.com reached 12,555,004 Avg Monthly Page Views
  • 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).
  • in 2020, Sotheby’s International Realty® announced its exclusive sponsorship of a new, multi-lingual real estate portal on Expansión, a leading Mexican business publication, and the first luxury real estate brand to showcase its listings to prospective homebuyers through this kind of affiliation to more than 15 million readers
  • Sotheby's offers a powerful network of 22,500 agents and over 1,000 offices in 71 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 September 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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Metro Vancouver home sales and listings surge in September
October 3, 2020

Home sale and new listing activity reached record levels in Metro Vancouver* in September.
 

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,643 in September 2020, a 56.2 per cent increase from the 2,333 sales recorded in September 2019, and a 19.6 per cent increase from the 3,047 homes sold in August 2020.
 

Last month’s sales were 44.8 per cent above the 10-year September sales average and is the highest total on record for the month.


"We've seen robust home sale and listing activity across Metro Vancouver throughout the summer months. This increased activity can be attributed, in part, to lower interest rates and changing housing needs during the COVID-19 pandemic."  -- Colette Gerber, REBGV Chair
 

There were 6,402 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in September 2020. This represents a 31.6 per cent increase compared to the 4,866 homes listed in September 2019 and a 10.1 per cent increase compared to August 2020 when 5,813 homes were listed.
 

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 13,096, a 2.6 per cent decrease compared to September 2019 (13,439) and a 2.3 per cent increase compared to August 2020 (12,803).
 

"While the pace of new MLS® listings entering the market is increasing, the heightened demand from home buyers is keeping overall supply levels down," Gerber said. "This is creating upward pressure on home prices, which have been edging up since the spring."
 

For all property types, the sales-to-active listings ratio for September 2020 is 27.8 per cent. By property type, the ratio is 28.3 per cent for detached homes, 36.1 per cent for townhomes, and 24.8 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 $1,041,300. This represents a 5.8 per cent increase over September 2019, and a 0.3 per cent increase compared to August 2020.


Sales of detached homes in September 2020 reached 1,317, a 76.8 per cent increase from the 745 detached sales recorded in September 2019. The benchmark price for detached properties is $1,507,500. This represents a 7.8 per cent increase from September 2019 and a 1.1 per cent increase compared to August 2020.


Sales of apartment homes reached 1,596 in September 2020, a 36.9 per cent increase compared to the 1,166 sales in September 2019. The benchmark price of an apartment property is $683,500. This represents a 4.5 per cent increase from September 2019 and a 0.3 per cent decrease compared to August 2020.


Attached home sales in September 2020 totalled 730, a 73 per cent increase compared to the 422 sales in September 2019. The benchmark price of an attached unit is $809,900. This represents a 5.2 per cent increase from September 2019 and a 0.4 per cent increase compared to August 2020.


Sales-to-active listings ratio - September 2020

Detached homes     
28.3%
Townhomes     36.1%
Condominiums     24.8%
Total     27.8%


 

CLICK HERE to view the complete REBGV stats package.
Newsletter Archives
Here are some past issues of Anne's Real Estate Update:


Anne's Real Estate Update - August 2020
Anne's Real Estate Update - June 2020
Anne's Real Estate Update - April 2020
Anne's Real Estate Update - February 2020
Anne's Real Estate Update - November 2019
Anne's Real Estate Update - August 2019
Anne's Real Estate Update - June 2019
Anne's Real Estate Update - May 2019
Anne's Real Estate Update - February 2019
Anne's Real Estate Update - December 2018
Anne's Real Estate Update - October 2018
Anne's Real Estate Update - August 2018
Anne's Real Estate Update - June 2018
Anne's Real Estate Update - March 2018
Anne's Real Estate Update - January 2018
Anne's Real Estate Update - Happy New Year 2018!
Anne's Real Estate Update - November 2017
Anne's Real Estate Update - October 2017
Anne's Real Estate Update - September 2017
Anne's Real Estate Update - August 2017
Anne's Real Estate Update - July 2017
Anne's Real Estate Update - June 2017
Anne's Real Estate Update - May 2017
Anne's Real Estate Update - April 2017
Anne's Real Estate Update - March 2017
Anne's Real Estate Update - February 2017
Anne's Real Estate Update - January 2017
Anne's Real Estate Update - November 2016
Anne's Real Estate Update - October 2016
Anne's Real Estate Update - August 2016
Anne's Real Estate Update - July 2016
Anne's Real Estate Update - June 2016
Anne's Real Estate Update - April 2016
Anne's Real Estate Update - February 2016
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Anne Mainwaring REALTOR · 5660 Yew Street · Vancouver, BC V6M 3Y3 · Canada

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