What’s selling in the Vancouver Kitsilano Single Family Market? 50% of the homes sold in Kitsilano last month. Seller’s market is defined as 21%, so clearly it is very strong. 


In total, 9 Kits homes sold in February. The most expensive, a 13 year old, 2,500 sqft character home, went for $3.98M. 10 years ago, this same home sold for 1 million less. 


The least expensive home, a laneway house on a less than 1,200 sqft lot, sold for $1.46M.  This was a laneway home that was a part of a strata property.


If you like to take a look at all the sales in Kitsilano, I have a new package you can download at this link: https://davidsetton.com/market-updates.html


Don’t forget to please subscribe and comment on YouTube and follow me on Instagram


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Where are we seeing lots of strength in the market?


Let’s start with the condo market. The condo and townhouse market is very strong up to $1.5M, with the most active price band being between 400,000 and 500,000. Homes are selling on average 100% of list price. Overall, the westside condo market is really strong, favouring sellers with 37% of them sold last month. This is not surprising as more buyers can’t afford rising detached home prices. Inventory seems to be keeping fairly steady, but as demand increases, prices will soon follow suit. The current locations with most activity for condominiums are Fairview, and Kitsilano. 


Now let's look at the single family market.  You can see here that the market is at its strongest between 2.5 and 2.75 mil. Like condos and townhomes, single family homes are also selling on average 100% of list price.  Median prices are the highest they have been over the last 13 months. The strongest location for buyers is definitely Shaughnessy and South Granville, and Kerrisdalle and Kitsilano for sellers. I have a special report on Kitsilano single family market, if you want to check out the market update page of my website.


If you would like to take a look at the market conditions in more detail feel free to reply to this email.

_____________________________________________

 

If you would like to take a look at the market conditions for your area in detail, you can download the latest Snapstats report here. This is a great way to learn where the market is heading. You will find a great 13 month graph here for each area showing:


- how prices are changing over time,

- how supply is changing over time,

- and how the number of sales are changing each month. 


If you are interested in gaining access to all the sold and available homes in the lower mainland, feel free to use my website to search for your next home.

All the best,


David

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Many people believe that the other party is the enemy during a negotiation.  This is simply not the case. A well trained negotiator will help get what their clients want, while helping the other side get what they want.  In the end, a good deal will allow both parties to feel like they have won. Being assertive, personable, and knowing the right questions to ask is fundamental to achieve this. 


Negotiation is more than winning on price alone. For example, the deal may hinge by giving flexibility to the seller on the moving date, or possibly allowing the seller to rent back the home for free between the acceptance of the offer and the move-in date. Remember that when it comes to residential real estate sales, there are two realtors involved.  One represents the buyer while one represents the seller.  Negotiation involves both agents working together to find solutions beyond just hammering out a price that is acceptable to both parties.


An effective negotiator will not let their emotions interfere with their goals. They will maintain a level head and explore all options thoroughly, working calmly toward getting the best deal possible. 


An experienced realtor will develop rapport very quickly with the seller's agent. Ultimately, the basis of winning a deal during a hot market is strong ethics and established trust between the buyer's and seller's agent. Once established, effective negotiation will separate a good realtor from a great one. 

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Get your own website to view sold homes here  


I have many photographs of the sold homes dispersed throughout the video.


What’s selling in the Vancouver Kitsilano Single Family Market? 28% of the homes sold in Kitsilano last month. Seller’s market is defined as 21%.


Five homes sold in Kitsilano last month. The most expensive home sold for $7.25M.  This would have bought you a 31 year old, 1,9164 sqft home, on Point Grey Road. Believe it or not this was only a 1 bedroom home and the lot was only 33 foot wide by 100 foot deep. This home sold for $4.7M eleven years ago..


The least expensive home sold for $2.15M.  This would have bought you a 81 year old home on the corner of Balaclava St and 8th Avenue on a 33 foot by 110 foot deep lot. This lot is zoned RT-7 which allows for a multifamily development.  


So where is the market heading? Still have very little inventory. Less than 400 homes available on the Westside. Interest rates are still at record lows. Even with Covid 19, if interest rates stay low and inventory stays low we should see single family home prices continue to rise. Even with all the pressure on home prices, we are still not seeing the sold prices that we saw when the market peaked in 2017. We are close, but not quite there yet.


If you like to take a look at all the sales in Kitsilano in more detail feel free to connect with me on instagram or Youtube or send me an email.


Don’t forget to please subscribe and comment on YouTube and follow me on Instagram


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We all love to collect things and we all love the knickknacks in our homes.


There are three aspects of interior design that I would like to talk about today and the first addresses this love of collecting knickknacks.


1. Less is More


We live in a time where it is very easy to accumulate many different things we value. The challenge with an interesting and inviting space is to actually have less. Try to group knickknacks and wall art in arrangements that are interesting to the eye and try your best to create focal points when you enter the room.  For example in a bedroom the focal point could be the bed headboard wall. You may want to think about an interesting piece of artwork that coordinates well with the bed cover and bed cushions.


2. Furniture Arrangement

The way Furniture is arranged in a room can be very powerful. Furniture can be either used to divide a room or open the room up completely. For example you may want to think about placing a large couch against the wall to make a room feel more open or if the goal is to divide the and define the room float the couch in the middle of the room.  Make sure to use area rugs with hardwood floors to help define the space in great rooms.


3. Colour


Let’s talk about colour. Colour can be neutral or very bold depending on your taste and the look you are going for.  Accent walls can create a focal point when you enter a room.  Going back to the bedroom example you may consider painting the bed headboard wall a darker bold colour to draw your eye to that particular wall. Light or off-white walls will make a room feel larger and more open. Same when it comes to floor colour.  Dark stained hardwood floors will make a room feel smaller than light maple hardwood floors. Be careful with changing the floor finish between spaces in a great room.  This can affect the flow of the room. Everytime the floor finish changes for example from tile to hardwood it can divide a space and make it feel smaller.


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More about David Setton Here

1 De-Clutter

An easy way to get your home ready for showings and open houses is to pack up all the clutter you have and get it stored away. Anything that's sitting on a flat surface, like a countertop or table, should be packed away. Additionally, you should also put away anything you don't use frequently, give away things you don't need, throw away anything that can't be donated, and keep only what you really like and need to take with you when you move.


2) Get Your House Sparkling

It is important to have immaculate floors and sparkling windows when you're trying to sell your house. Equally important and something you should also consider, is scrubbing the grout, cleaning counters, and every surface in your home so it as clean and nice looking as possible. Cleaning is the least expensive way to make your home look great and help buyers see the potential in it. If you have a big house or aren't the most fastidious housekeeper, you may want to hire a professional. Don't scrimp on the cleaning, though. It's a very important step.


3) Half Empty Closets

Every home buyer is looking for storage, and it's almost impossible to have too much of it. Take at least half of your things out of the closets and drawers of your home, and then take the time to organize what's left in them. Buyers are going to snoop, and you don't want them to see crowded, overstuffed closets, and drawers. This can give the impression that there's not enough room in the house and/or that you have a lot of clutter. You want to give the impression that everything is neat and tidy. If buyers see that you're messy, they may think you don't take good care of your home.


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1 If it’s older than you are …. 

Many buyers can be scared off by the idea of purchasing a home that they think needs too much work.  Make your home an easy choice by keeping everything as neutral and clean as possible. Update lighting, door handles, outlets and/or light switches to ones that reflect current trends. 


2) Create a Gender-Neutral Master Bedroom

Master Bedrooms are a huge selling point so why not make yours as enticing to buyers as possible. Appeal to every buyer you can with a master bedroom that's clean and tailored. It should be free of clutter and personal items, and should be gender neutral. Not everyone will be interested in a master bedroom that's clearly masculine or feminine, so it's best to paint the walls in neutral colors and use linens that are also as neutral as possible. Avoid excessively bright colors that may turn buyers off. Neutral colors provide a nice blank pallet for potential home buyers to imagine themselves in the space.


3) Style Your Dining Room Table

If there's a room that often gets overlooked for showings and open houses, it's the dining room. Between dinners, a big table can look oversized, bare, and uninviting. A quick and easy way to make this room more appealing to potential buys, is to style it with visitors in mind. Flowers, candles, and even place settings can make this room look warm and inviting and make it more functional and interesting when buyers come through.


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GET YOUR REPORT HERE.


What’s Hot in the Vancouver Westside condo and single family market?


Where are we seeing lots of strength in the market?


Let’s start with the condo market. The condo and townhouse market is very strong under $1M. You will probably be competing under $1M. Overall the westside condo market is really strong and favouring sellers with 33% of them sold last month. Inventory continues to come down (red dashed line). Typical of this time of year. Where are the strongest locations? The strongest locations w/ most activity for condominiums is Fairview, Falsecreek and Kitsilano. 


Now let's look at the single family market.  You can see here that the strength in the market here is under $3M.  Now let’s check the 13 month graph. Median prices are down around $300k or 10% after peaking in September. Buyers today are getting much more for their money. Where is the strongest location? The strongest location is definitely Kitsilano where 69% of the homes are selling. I have a special report on Kitsilano single family market, if you want to check out the market update page of my website.


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Thinking of selling your home? 


I wanted to share three tips for getting your home ready for the spring market. 


Tip number 1 - Use counter intelligence.  What do I mean by this?  

Buyers need to envision themselves living in your home.  

They want to see what they can put in a space and how your home can become theirs. In order to do that, they need to see clean and empty horizontal surfaces.  Less is more when it comes to counter tops. Clear unncessary items away. Maybe a nice fruit bowl in the kitchen would be suitable, or a small bouquet of flowers in the bathroom


Tip number 2 - Beat them with condition.There is a lot of competition in many housing markets. As a homeowner, the best way for you to compete is by presenting your home in the best condition. Get as many repairs done as possible before listing your home Touch up the inside walls, trims, and doors.  A simple top coat can leave any space feeling fresh and clean.


Tip number 3 - That armchair could be the difference! A good sale is often dependent on making your home appeal to the largest range of buyers.  Help buyers see the potential of your home by removing extra pieces of furniture so they can really see the space and imagine themselves in it. Placing a love seat or a sofa along a wall rather than in the middle of a living room can make a room feel larger. When in doubt, call a home stager. 

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Mortgage protection insurance seems like a great idea on paper. After all, you financially protect your home, your car, your health, and your life with insurance. Why not do the same for what’s typically your largest debt obligation?


But a MPI policy might not be the best way to help your family pay off the house.


Here are five questions you should ask before you buy mortgage protection insurance. 


Who is the Beneficiary?


The Beneficiary is the party that receives a death benefit. WIth MPI, the lender is the beneficiary. Sure, they will pay off the mortgage, but what if your family would prefer to use it for something else? Maybe, 20 years into the mortgage, your family would prefer to use the cash for your final tax bill, final expenses, your kids' university, or to take time away to grieve. WIth MPI, you don't have the freedom to choose the beneficiary.


Is it guaranteed to pay out?


MPI is not fully medically underwritten. It has a higher decline rate than policies that are underwritten for the insured's specific health history and thus contractually guaranteed to pay out. If you don't answer a detailed medical health history report, and take out the policy with a licensed insurance advisor, chances are, you have some gaps in your coverage that won't give you the peace of mind that insurance is meant to offer. Furthermore, if you are "younger" and "healthier" that an average person of your age and gender, your own personalized policy may cost less than a lender-based policy.


Will my payout change?  


A fundamental weakness of most MPI policies is that their payout decreases over time. As you work down your mortgage, there’s technically less to protect.

That becomes a problem if your premiums don’t change even as your payout plummets. You’ll be paying the same amount for less protection!

Ask about policies that feature a level death benefit. They’ll provide you with the same amount of death benefit regardless of how much is left on your mortgage.


Will my premiums change?


Premiums for MPI aren’t always fixed. The amount you pay for protection each month might decrease or skyrocket. Your wallet is at the mercy of your insurance provider!

Just remember that fixed premiums might be a double edged sword. It may be useful to have a policy with premiums that lower over time if you don’t have a level death benefit. Ask about fixed premiums for your MPI before you find yourself paying more for less!


Would life insurance be a better option? (hint: the answer may be yes)


Term life insurance may be a better choice than MPI. Payouts are guaranteed by the insurance company and premiums are fixed. You won’t have to worry about paying more for less protection as the years go by.


It’s also flexible. A chunk of the death benefit may knock out the mortgage, while the rest can fund post secondary education, health care costs, and living expenses.


There are special circumstances where MPI is superior to term life insurance. It typically doesn’t have medical restrictions, making it a good option for people who normally wouldn’t qualify for term life insurance. Just remember to ask your financial professional these questions if you decide to learn more!


I encourage all of my clients to meet with a financial professional when making any major financial changes such as re-financing a home, having a child or before changing careers. 

 
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This video will teach you how to search for ALL active and sold homes. Realtors use a system to promot their listings called reciprocity. This gives the public access to listings using services such as this website (and other less sophisticated websites like Realtor.ca and REW.ca). You can search for ALL active and SOLD homes. You can even save your search and have new listings that meet your own personal criteria sent to your email. This website is all you need to learn about the market specific to your home search before hiring a real estate agent.


CLICK HERE TO CREATE YOUR ACCOUNT AND START YOUR HOME SEARCH

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DETAILS HERE


An urban oasis in the heart of Richmond. Surrounded by ponds and streams with over 200,000 square feet of landscaping, Huntly Wynd is resort living at it’s finest.  Enjoy mornings on your grand west facing patio with newly replaced Italian porcelain tiles overlooking a private garden, lagoon and water feature. This home has been renovated from head to toe with complete open floor plan on the main floor.  Real hardwood floor throughout.  Dining room and modern kitchen with quartz countertops for family cooking and entertaining guests.  Converted gas cooktop is a rare find in the complex.  Energy efficient double pane windows and patio door were recently installed.  The huge living room with gas fireplace will become your home theatre with a click of a switch, equipped with 7.1 audio system, 120” screen and 3D HD projector.  The loft can be the 3rd bedroom or office.   Extra storage behind the master bedroom and on top of carport.  24 hours security guard on duty at the entry gate brings peace to this exclusive community.  Clubhouse was recently updated with new furniture and first class salt water indoor swimming pool, hot tub, sauna, gym and an attached guest suite. Corner unit. 19+ adult oriented, no rentals.

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See what’s selling in Kitsilano here


What’s selling in the Vancouver Kitsilano Single Family Market? Unlike the rest of the Vancouver West Side single family market,


Kitsilano is favouring sellers with 55% of homes sold.


Seventeen homes sold in Kitsilano last month. The most expensive home sold for $4.5M. This would have bought you a 6 year old custom built, 4,400 square foot home on 15th Avenue. It has been on and off the market since 2015


The least expensive home sold for $1.95M. This would have bought you a 92 year old home (land value) on Waterloo St on a 33 foot by 122 foot deep lot. This home sold for $100,000 over the purchase price just 1 year ago.


If you like to take a look at all the sales in Kitsilano, I have a new package you can download at this link: https://davidsetton.com/market-update...


Don’t forget to please subscribe and comment on YouTube and follow me on Instagram

 
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Get detailed statistics on the Market Updates Page of the Website by clicking here.


Today I want to look at both the Vancouver Westside condo and single family market.


Where are we seeing lots of strength in the market?


The condo and townhouse market is very strong under $900,000.  If you are looking for a home at this price you may be competing with other offers.  Inventory that was rising since March peaked in Sept and has actually come down a little bit in Oct. The strongest locations w/ most activity for condominiums is Fairview and Kitsilano.


Now let's look at the single family market.  The strength in the market here is under $3.5M.  Median prices are down around $300k or 10% after peaking in September. Buyers today are getting much more for their money. The strongest locations are Cambie and Kitsilano. I have a special report on Kitsilano single family market, if you want to check out the market update page of my website.


If you would like to take a look at the market conditions in more detail feel free to download the Snapstats Report.  Send me a message through Instagram and I would be happy to send it to you. 


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Get more details here including a vitural tour!


Live in the heart of Kerrisdale in a well-designed 3-Bed townhome at Larchwood. Fronting a quiet courtyard, this is the best located home in the development! Enjoy mornings on your grand east facing patio overlooking a private park, or walk a block to the shops of quaint yet bustling Kerrisdale Village.


With private access from your home to 2 large parking stalls, an unfinished basement room, and plenty of in suite storage, this townhome is easy to live in. Chef inspired kitchen with over-height cabinets and Miele appliances. Open concept living and dining rooms with airy 9' high ceilings and a custom Maple and Marble fireplace. A short walk to some of the best private and public schools on the west side.


Easy access to the University of BC and the peaceful forest of the Endowment Lands.


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See what’s selling in Kitsilano here


What’s selling in the Vancouver Kitsilano Single Family Market? Unlike the rest of the Vancouver West Side single family market, Kitsilano is favouring sellers with 25% of homes sold.  


Six homes sold in Kitsilano last month. The most expensive home sold for $13.5M.  This would have bought you a 26 year old custom built, 4,800 sqft, waterfront home on Point Grey Road. This home was originally listed for $16.8M in 2016.


The least expensive home sold for $2.3M.  This would have bought you a 90 year old home on 15th Avenue on a 33 foot by 122 foot deep lot.  This home sold for over the asking price of $1.98M.


If you like to take a look at all the sales in Kitsilano, I have a new package you can download at this link: https://davidsetton.com/market-updates.html

 
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See what’s selling in Kitsilano here: https://davidsetton.com/market-updates.html


What’s selling in the Vancouver Kerrisdale Single Family Market?


Just like the rest of the Vancouver West Side single family market, Kitsilano is favouring buyers with 12% of homes sold. Five homes sold in Kerrisdale last month. The most expensive home sold for $3.75M. This would have bought you a 44 year old renovated home on Cedearhurst St on a 66 foot wide by 118 foot deep lot. This home was originally listed for $5.8M in November 2017.


The least expensive home sold for $2.5M. This would have bought you a 72 year old home on 45th Avenue on a 59 foot by 116 foot deep lot. This home was originally listed for sale for $3.8M in May 2018.


If you like to take a look at all the sales in Kitsilano, I have a new package you can download at this link: https://davidsetton.com/market-updates.html


Don’t forget to please subscribe and comment on YouTube and follow me on Instagram

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Get detailed statistics here: https://davidsetton.com/market-update...


Today I want to look at both the Vancouver Westside condo and single family market.


Where are we seeing lots of strength in the market?


The condo and townhouse market is very strong under $800,000. If you are looking for a home at this price you may be competing with other offers. Inventory is still very low and prices have been falling over the last few months. The strongest locations for condominiums is Fairview and Kitsilano.


Now let's look at the single family market. The strength in the market here is under $3M. Little availability under $3M and homes are selling quickly. Median prices jumped up to $3.2M in May. This was mainly because we started to see a few more homes sell between $3M and $4M. The strongest locations are Kitsilano and Arbutus. I have a special report on Kitsilano single family market, if you want to check out the market update page of my website.


If you would like to take a look at the market conditions in more detail feel free to download the Snapstats Report. Send me a message through Instagram and I would be happy to send it to you.

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Who could resist a handsome face like this? Well some condominium developments do if you can believe it. If you are thinking about acquiring a permanent 2 year old and also thinking about moving, be aware that pet restrictions are very common in Vancouver.


Some developments restrict the size of the dog not only by weight but also by height. Some restrict the number of pets or the type of dog. Some have bylaw restrictions around how much your dog likes to talk.

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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.