Coal Harbour

Here are the new listings for Downtown Suites this week:

1702-928 Richards St:$1150, 490sf in Yaletown
Beautiful Studio, gas fireplace, storage locker, 1 parking spot

2802-198 Aquarius Mews:$1750, 804sf in Yaletown by the Marinaside
2 bedroom, 2.5 bath, in suite laundry, magnificent views of the city and the marina

2501-1328 W Pender: $1850, 810sf in Coal Harbour
2 bedroom, 2 bath, gas fireplace, in suite laundry, great views of the city, ocean and north shore mountains

1901-1111 Alberni St: $2950, 1530sf in Downtown
2 bedrooms both with ensuite bathroom in the Shangri La, fantastic modern kitchen with top of the line appliances, patio with west facing views of the city

PLEASE NOTE THAT WE WILL BE CLOSED FROM DECEMBER 24TH AT 3PM-JANUARY 1ST. WE WILL RESUME SHOWINGS ON THE 2ND.

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Vancouver is given a big boost in today’s New York Times, in the Great Homes, Lifestyles and Destinations section, outlining many of the reasons why investors and second-home buyers worldwide choose to invest in Vancouver real estate.

The article:

Preening for the Olympics, Vancouver Is Building Up

By DAVE CALDWELL Published: December 4, 2008

EVEN when it rains hard in Vancouver, British Columbia, the host city for the next Olympic Games, big yellow backhoes at construction sites near Coal Harbour.…(view full article here)

Those involved in local real estate estimate that about 20 percent of those second-home buyers will be Americans. “We’re really livable, which is why America likes us,” said Bob Rennie, whose company, Rennie Marketing Systems, promotes several developments in Vancouver.

Click the link to view the stunning slide show “Building Vancouver’s Olympic Future” from today’s New York Times. It shows through spectacular photography the beauties of the city of Vancouver.

At Downtown Suites, we manage the properties of many non-resident investors who own in Vancouver.

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I agree with this recent Vancouver Sun article (Real Estate Sales Grind to Standstill by Derrick Penner) that there is always something fundamentally wrong when prices become too high for the local consumer to afford.  This is nothing new in our boom and bust cycle of real estate in Vancouver. I have seen it all before!

The writing has been on the wall for several years.  I was amazed at the continued growth over the last few years… way beyond what we could sustain locally.  I also agree that if you buy thinking long term and view real estate as a place to live rather than a chip on the monopoly board you are not going to lose.  Before we reach the nadir of the market is when all the prime properties will get snapped up.

Contrary to the stats of other agents,  at Downtown Suites we have sold several properties now for our clients looking to cherry pick good opportunities.

I agree the market averages will decline into the second quarter but the “dogs” will be the ones driving the average prices down further.  There is always a market for blue chip properties and they always ultimately appreciate in value as the market rebounds.

My advice would be to keep your powder dry and get in touch with a good agent who specializes in the area you are interested in purchasing and be ready to make your move when you see something you like.

Don’t run scared of the real estate market, we’re not…we’re doing more sales now than before…with over 30 years experience we’ve seen it all before! Call or email your local success story: www.downtownsuites.com.

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I had been working with my clients for several days and viewing many different buildings in the downtown and Coal Harbour area until we finally found the perfect investment property for them. The best deal in Coal Harbour!

This studio suite in the Coal Harbour area  was clean and tidy, and perfect for their investment needs. It came complete with  a great tenant who has resided in the suite for the last five years and wished to stay. It was a win- win situation for all involved! The sellers were happy to have an offer on the table and I was able to negotiate a great price for my clients and the tenant was happy to stay in her home.

My clients were thrilled with their purchase, it was the perfect “turn key” investment property. Downtown Suites will now proceed to take over the professional management of the suite for our clients.

Their are many great investment opportunities  a this time in the Downtown and Coal Harbour areas. If you are interested in purchasing an investment property or would like information in regards to our Real Estate and Property Management services. Please do not hesitate to contact me directly.

Victoria Farrell
Downtown Suites Ltd

www.downtownsuites.com
victoria@downtownsuites.com

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Last week saw another great new rental listing, this time at the beautiful luxurious new Shangri La, on the 44th floor at 1128 W. Georgia.

View from Suite at Shangri La

Absolutely spectacular estate home in the Shangri La Tower on the 44th floor. This is the only floor with 10′ ceilings and only two suites on this floor!
Fabulous views to north east and south including Coal Harbour and the mountains to the north.
Estate homes have exclusive entry through the lobby of the Shangri La hotel
2 Bedrooms, 2.5 Bathrooms, 2500 Sq. Ft.
Fabulous marble bathrooms, granite counters.
Enjoy the use of the complimentary BMW car service as available in downtown
Great amenities and of course hotel service from the world renowned Shangri La Hotel
Available January 1st.
Applications are now being considered. Go to our rental listing for more info.

Generous Lliving Space

Fine Detailing

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Last Week’s Viewings

This week was a great one for Downtown Suites as far as rentals are concerned. We rented a lot of our 1 bedrooms within the $1500 and below price range.

1 Bedroom, 500-600sf, $900-$1500 - 290 Inquiries

1 Bedroom, 600-700sf, $1600-$1800 –13 Inquiries

2 Bedroom, 700-1000sf, $1900-$2500 - 5 Inquiries

2-3 Bedroom, 1000-1400sf, $2600-$3000+ - 46 Inquiries

The majority of all our viewers are interested in the suites that are available in the downtown core, as it is in the price range that people most people can afford.

Coal Harbour and Yaletown are bringing in viewers but the price range is on the higher end so the amount of people interested are a bit less. We have seen an increasing number of people coming to the showings in this area as the weeks go by due to the drop in rental prices (in some cases.)

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I had 2 showings yesterday for Downtown Suites.

The first suite I showed was a penthouse suite on West 12th and Granville. I met with the gentleman and his friend and we took a look at the suite. It is a very unique suite with a lot of spaces that are dispersed through out the house. There are 2 fireplace, one with a custom mosaic motif which gives the piece some character.

The couple looked around all the rooms and gave their input saying that the place was great as far as space, but it was kind of gloomy and dark and the maitainance in the suite didn’t seem to have been done for some time.

We then went outside to the spiral staircase that leads you to the top of the 2,600 ft deck. The fellow really loved the view of the city.

Although he liked some of the qualities of the suite at the end of the day he decided that the place wasn’t the right one for him.

My second showing was at  West Georgia. This is a Penthouse unit in Coal Harbour.

2 Men showed up and took a good look at the suite. This penthouse offers a generous amount of living space with a wrap around deck that you can look out to all the spectacular views of the city, water and mountains.

They both took applications and were very pleased with it.

So all in all the showing went well. I like to get feedback’s from the viewers and I encourage them to voice their thoughts, because it gives Downtown Suites Team and I an idea as to how people are reacting to the rental market.

I will keep you posted on the many showing that i have coming up this week.

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The overseas investor finds Vancouver to be particularly attractive to purchase an investment property for many reasons. Vancouver is hosting the 2010 Winter Olympics which will bring many visitors to our lovely city as well  many foreigners think about the possibility of owning property here. No one has a crystal ball to predict property prices in Vancouver but we know that after Expo 86 we had a huge influx of overseas investors which drove up prices. We getting many inquires every week in regards to the 2010 Olympics from the overseas investors. Many investors are seriously thinking about owning property in Vancouver prior to 2010. This is an excellent idea, as it will enable you to own property in one of the most beautiful and desirable cities to live in the world.

At Downtown Suites we can manage your property for you prior while you reside overseas and if you  visit during the Olympics you can choose to take possession of your suite.  Many individuals are thinking about retirment in Vancouver within the next 10 years or so. It is an idea that many worldly individuals dream about and it is a great idea for many reasons. Our economy is very strong and the price points in Vancouver are still considered reasonable compared to other world-class cities.

For those who have never visited our city, Vancouver is located along the West Coast of British Columbia and many of our downtown neighbourhoods are surrounded by water located along the seawall. As well we have beautiful breathtaking mountain views from many of the downtown locations. We have so many attractive neighbourhoods which  are desirable including; Downtown, Westend, Yaletown, Kitsilano, and West Side.

At Downtown Suites we can assist you in all aspects of purchasing  the perfect investment property.  We will help you to narrow down your search parameters including price point, square footage, location, amenities, view and other factors that may be important to you. In fact we can assist you with the sales transaction remotely. If you are a qualified purchaser we assist with all of the documentation and paper work by email and fax.

Once we have found the perfect property for you we will make the purchase as simple as possible for you from beginning to end. We take a personal interest in our clients and will look out for your interests  from negotiating the right price point for you, presenting the offer, and ultimatley  closing the deal. We have a team of professionals with whom we work closely including Mortgage Specialists, Lawyers, Notaries, and Home Inspectors.

We are a fully licensed Property Management and Real Estate company that will professionally  manage your property for you in all aspects including: advertising and finding a qualified tenant, collecting rents, managing tenants, maintenance issues which may arise. Please refer to our website for additional information on our Property Management and Real Estate Services www. downtownsuites.com.

I am a  members of the Vancouver Real Estate Board of Greater Vancouver and Specialize in the Downtown Vancouver Real Estate Market. Specializing in working with overseas investors and tenant occupied properties. If you have any questions in regards to the acquisition or sale of an investment property in the Vancouver area or have any questions please do not hesistate to contact me directly.

Victoria Farrell

Sales Associate

Downtown Suites Ltd
www.downtownsuites.com
victoria@downtownsuties.com

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Debra Porteus, Waterfront Specialist

Vancouver-born Real Estate professional Debra Porteous is another of our trusted realtor colleagues here at Downtown Suites. Debra applies her specialized marketing and education background to Vancouver’s waterfront properties and is an experienced sales expert in Vancouver’s luxury waterfront homes from False Creek to Coal Harbour.

As integrity, confidentiality and respect for clients is the foundation of her business, we are very grateful for her referrals to investor clients. Like many in our network of trusted and established realtors, Debra has acquired many achievement awards over the years. She is in the top 5% of all Vancouver realtors and has been a Gold Master Member of MLS Medallion Club of Greater Vancouver for 14 consecutive years. Within Re/Max, she has received the Re/Max Hall of Fame Award (over 700 homes sold), the Re/Max Chairman’s Club (top volume of sales within the company) and Re/Max Platinum Club Award (top level of sales achievement in the industry,) and was one of the top 100 Re/Max Residential Sales Agents in Canada (2006.)
(originally posted August 1, 2007)

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