4 Presale Pick | Vancouver New Construction Homes
In the simple video we're going to be highlighting four of my favorite presales that are coming up and they're actually started selling.
So we want to be part of this contact me. My name is Axel Ziba. I'm a pre-sales specialist and Real Estate specialist in Vancouver.
My first and the most favorite 1515 that's 1515 Alberni Street..
And talking about Coal Harbor and insight of the, uh, toward, uh, Stanley park. As you go forward. Of course we know Albernie is billionaire corner and it's Rodeo drive in Vancouver and with many, uh, high-end and upscale boutiques out there, it's just trending toward & building toward executives and Hollywooders
The second one of my favorites in north Vancouver, They are millennium at central Lonsdale. Um, location is just phenomenal. It's a next best thing to, coming down from your home and have entire amenities right beside you, right on Lonsdale, and it's just fantastic to have, and all the cafes and shops and restaurant at the bottom of your feet.
A third. One of my is The Executive on the Park in the West Vancouver. So prestigious address at West Vancouver at 660 Clyde Ave just open their doors.
And as a matter of fact, they came up with a tremendous bonus just to attract. There's only 88 units available 20 of them or 21 of them, it's on hold and not going to release it for developers, um, just to furnish and rent out..
And so there are only 67 units available, which apparently a couple have been sold out of the first 10 sales. They're offering a five year of a strata fees.
That's a, that's a package of almost about a hundred thousand dollars and a $50,000 in purchase on a credit as well as the upgrades for the appliances.
And that's $10,000 in value.
And the last one of my favorite is a FORM by Anthem and Form is located at 1558 west 6th Ave.
That's just at the border of, , very close to Granville Island, between false Creek and Kitsilano and Fairview, , it just beautiful location.
You can't get better than this. There is total of only 50 units and they're opening their doors, just open their doors.
Thank you for watching this and stay tuned for my next video. And if you liked this content, Hit the , “Like” & make comments, subscribe to my videos, let me do more of these for you.
Metro Vancouver home sales return to more traditional levels in April
Home buyer demand in Metro Vancouver* returned to more historically typical levels in April.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,232 in April 2022, a 34.1 per cent decrease from the 4,908 sales recorded in April 2021, and a 25.6 per cent decrease from the 4,344 homes sold in March 2022.
Last month’s sales were 1.5 per cent above the 10-year April sales average.
“So far this spring, we’ve seen home sales ease down from the record-breaking pace of the last year,” Daniel John, REBGV Chair said. “While a small sample size, the return to a more traditional pace of home sales that we’ve experienced over the last two months provides hopeful home buyers more time to make decisions, secure financing and perform other due diligence such as home inspections.”
There were 6,107 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in April 2022. This represents a 23.1 per cent decrease compared to the 7,938 homes listed in April 2021 and an 8.5 per cent decrease compared to March 2022 when 6,673 homes were listed.
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 8,796, a 14.1 per cent decrease compared to April 2021 (10,245) and a 15.3 per cent increase compared to March 2022 (7,628).
“With interest rates climbing and the total inventory of homes for sale inching higher, it’s important to work with your local Realtor to understand how these factors could affect your home buying or selling situation,” John said.
For all property types, the sales-to-active listings ratio for April 2022 is 36.7 per cent. By property type, the ratio is 25.3 per cent for detached homes, 47.1 per cent for townhomes, and 45 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 $1,374,500. This represents an 18.9 per cent increase over April 2021 and a one per cent increase compared to March 2022.
Sales of detached homes in April 2022 reached 962, a 41.9 per cent decrease from the 1,655 detached sales recorded in April 2021. The benchmark price for a detached home is $2,139,200. This represents a 20.8 per cent increase from April 2021 and a one per cent increase compared to March 2022.
Sales of apartment homes reached 1,692 in April 2022, a 26.1 per cent decrease compared to the 2,289 sales in April 2021. The benchmark price of an apartment home is $844,700. This represents a 16 per cent increase from April 2021 and a 1.1 per cent increase compared to March 2022.
Attached home sales in April 2022 totalled 578, a 40 per cent decrease compared to the 964 sales in April 2021. The benchmark price of an attached home is $1,150,500. This represents a 25 per cent increase from April 2021 and a 1.1 per cent increase compared to March 2022.
What to expect when buying a presale | 5 steps
You may be, have been wondering what's the process of purchasing a presale? Well, you're not that off because in this video we're going to be discussing five steps involved in purchasing presale.
My name is Axel. Ziba, pre-sales specialist in Vancouver. Number one is to discuss your wish-list, your location, and the desired budget.
So based on those information, your specialist has found you a perfect project and a development that you like.
So step two is for you to book and schedule an appointment to attend to those Sale Centers and discuss further information, select from best plans available and make an offer.
Step three and step four can switch places sometimes. Well, let's talk about the first option.
Step three is “Deposit”. some developers. They require deposit at the time of writing the offer or at the time of acceptance.
And some developers, they may require that after seven days, which we get to step number four, your seven days to do your due diligence.
And that's called “rescind period” or “recession period”.
The “7 Days” past and you've done your due diligence and every review and every disclosure has checked out and you've excitedly went ahead with the purchase.
Number five, is following the deposit instruction of step No. 3, if there is any remaining deposit is remaining. And closer to the Completion date, you do a walkthrough with developer's representative to look for issues that they need to be fixed.
Although you have the 2, 5, 10 warranty, this walkthrough is very important. It can be done with your hired inspector.
Of course, the next step after that is getting the key and celebrate and pop the campaigns. If you find this information useful, hit the LIKE and to SUBSCRIBE to my videos.
Make comments, let me know what you need to know. I'll be happy to assist.
4 Cons of Buying Presale to Watch for
1- GST (5%) on all brand new homes
2- Valuation at the time of completion, if the market is down and the home values are down compared to the time you signed the contract to buy the presale, the risk and cons is that you need to cover the amount between the accepted contract price and what the financial institution or your lender's appraisal.
3- Finish Product. rendering and what you saw may be different that what you receive. It is good to review every amendment to the disclosure during the progress of project and also be aware of builder's reputation.
4- Time of completion. The completion date is an estimate and most of the times it gets amended to be delayed. It is important to have a plan and not count on the projected completion date.