David's thoughts on anything real estate related

Download the 11 homes that sold in Kitsilano here:https://davidsetton.com/market-updates.html

What’s hot in the Kitsilano Single Family for March 2015

The Vancouver Westside Single Family market is very strong and very much favouring sellers and Kitsilano is no exception.

- 11 Homes sold in Kits for between $1.46M (low end - small 33’ x 110’ land) $3.2M for a newer home on a 40’ x 122’ lot.

- only 36 homes were available and on the market in Kits in February so to have 11 sales puts us in a strong sellers market at a 30% SR (21% or greater)

- Sold values in Kits seem to be consistent with the median price for a home in the Vancouver Westside - now at a staggering $2.5M

Thats my take on the Vancouver Westside single family market. If you would like to take a look at these sales, I have a special package that you can download at the link below with the map locating them and photos and details for each property.

To learn more about me click here: http://davidsetton.com/biography.html

Renovation mistakes.

1. forgetting to get permits and strata approval if required

2. going overboard on luxury items

3. to make it get too specific to your taste

4. sacrificing practical for aesthetics vessel sinks water goes everywhere but into sink

5. spending too much - over budget - resale

6. not going to residential developers display suites for ideas - instead looking at mag.

7. not enough planning especially when it comes to lighting and ceiling lights  

8. strive for perfection - constr. craft not a science

9. not finishing the renovation

10. biggest mistake is not hiring a professional designer right from the start people - think can save money

Download your own Statistics Package by clicking here: https://davidsetton.com/market-updates.html

Dispel a myth. Is it bad to sell a home in the winter months in Vancouver?

- answer - definitely not!

- sellers think that people go on vacation at this time.

- when looking at the stats these individuals couldn’t be more wrong

- last year in December 2013 we saw prices in the Vancouver Westside Single Family peak and we are seeing the same trend this year.

- reason is simple economics.

- less homes are on the market

- supply drops and prices go up

- in Dec 2013 Westside single family home inventory dropped to only 525 homes and prices peaked at avg of $2.468M

- we are seeing the same trend this year.

- inventory is starting to fall again and prices are jumping up.

For your own stats package from SnapStats click here
What's hot What's Not -- Vancouver Westside -- Single Family for June 2014
We have transitioned from a balanced to seller's market - Avg $2.295M and 204 / 840 homes sold. Avg price up from April $2.281M avg.
What's Hot (21% or more for a Sales Ratio)
-Kitsilano - smokin hot -- 69% Sales Ratio -- 27 / 39
-Dunbar - very strong - 45% Sales Ratio also 40 / 88
-Quilchena - 31% Sales Ratio - 9 / 29
- $1.25M - $1.5M - 70% Sales Ratio smokin 19 / 27 sold
- $1.5M - $1.75M - 24 / 50 or 48% Sales Ratio
- $1.75M - $2.00M - 31 / 78 or 40% Sales Ratio
What's not hot (14% or less for a Sales Ratio)
- high end luxury market really cooled off
- $4.5M - $5M  12% Sales Ratio with 6 / 49 sold
- $5M+ 8 / 111 or 7% Sales Ratio
- Cambie  2 / 16 sold or 12% Sales Ratio
- Oakridge - 3 / 30 or 10% Sales Ratio
- SW Marine - 1 / 41 or 2% Sales Ratio
That's what's hot and what's not for SF Market

Download your own statistics package specific to your community and price point.

What's hot What's Not -- Vancouver Westside -- Single Family for May 2014

We have transitioned from sell to balanced  - Avg $2.281M and 160 / 850 homes sold. Avg price down from Feb $2.375M avg.
What's Hot (21% or more for a sales ratio)
-Mackenzie Height -very hot --41% sales ratio -- 9 / 22 sold
-Kitsilano - very strong - 30% also 14 / 46 sold
-Cambie - 31% - 16 / 52 sold
- $1.25M - $1.5M - 45% sales ratio smoking hot 13 / 29 sold
- $1.5M - $1.75M - 26 / 56 sold or 46% sales ratio
- $1.75M - $2.00M - 26 / 82 sold or 32% sales ratio
What's not hot (14% or less for a sales ratio)
- high end luxury market really cooled since Feb
- $3.5M - $4M 7% with 7 / 93 sold
- $5M+ 11 / 111 sold or 11% Sales ratio
- University 2 / 29 sold or 7% sales ratio
- Shaughnessy - 2 / 87 sold or 2.3% sales ratio
- SW Marine - 3 / 40 sold or 7.5% sales ratio

- now that well into rainy season, homeowners could have the unfortunate experience of water ingress.
- no structure is immune from water damage even single family or concrete high rise buildings could leak.
- damage from water ingress is still the most significant factor in premature deterioration buildings
- the building envelope not only protects the people inside from the elements, it also acts like a building's skin, protecting the structure as well.
- How do builders manage moisture?
- 2 ways - #1 one prevent it from getting in by sealing the cladding (cladding brick/siding the outside of a bldg) #2 control it with a rainscreen
- a rainscreen is a special type of exterior wall assembly that provides for a path for water to escape when water gets behind the cladding.
- Whether a rainscreen or not here are some basic maintenance tasks to prevent moisture damage: 1) replace caulking, 2) keep gutters clean, 3) survey home for signs of leakage 4) repaint exterior 5) replace roofs every 20 - 25 years 6) clean dryer vents to prevent interior moisture damage