Luxury Suites

This week at Downtown Suites the outcome of all viewers for each suite are as follows:
In the $1000-$1500 per month price range: 15 people
In the $1600-$2000 per month price range: 17 people
In the $2100-$3000 per month price range: 8 people
In the $3100+ price range: We have listings in this price range but we have yet to show them because the units have not been closed.

There are many people who are still on the hunt for the perfect suite for rent in Vancouver, and they have a lot more options out there now. One of the other reasons that our viewing numbers are down is that it is getting close to the holidays. From the turn out for each viewing it is evident that most people do not want to move during the holiday and the new year.

Update on our suites in H&H and the Shangri La

H&H

As far as rentals go, we have had a few of our H&H suites rented. This is a wonderful brand new building with high end finishings and top of the line appliances. All the suites have a generous amount of space for you to cook in, hang your clothing, and have a bubble bath.

On top of all that, there is a common area roof top garden is very peaceful and serene when you get up there. We still have a few suites available and they are definitely ones that people should add on their list of places to view.

Shangri La

The Shangri La is another building that has been getting a lot of buzz. The suite has amazing views of the city with an open layout and wonderful details in the kitchen and bathroom.

The hotel is due to complete in mid January with all the amenities including the spa up and running in the new year. Located just right next door is the Burberry retail store that showcases some of the most well made and classic pieces. The new Urban Fare is already extremely busy with people either enjoying a bite, sipping on a cuppa joe, or picking up some gourmet ingredients.

This is a great address to live and people should definitely make an appointment to view it today.

{ 0 comments }

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.

{ 0 comments }

This week at Downtown Suites two of our remaining studio suites and a wonderful 1 bedroom were rented. Other rental updates for this week are as follows:

1 Bedroom

In the range of $1000-$1500 per month we had 102 inquiries. All of the suites in this price range have been rented, except one which will not last long.

1-2 Bedrooms

In the $1600-$2500 per month range we had 19 Inquiries. The suites in this price are still available and are worth coming  to view. Each has its own special features, and have great layouts.

2-3 Bedrooms

In the luxury $2600+ range we saw 53 inquiries. We do have a lot of interest and will be holding showings soon for some new suites that have just come on our listing. We find there is still a market for the high end luxury suites.

For more information on these and other available suites, check our current listings.

{ 1 comment }

Here are this weeks new listings at Downtown Suites. Just click on the address to find out more.

H&H: 414 1133 Homer St 2 Bedroom, 2 Bathroom, 1000sq ft., $2400

The Pointe: 1203-1331 W Georgia 1 Bedroom, 1 Bathroom, 553sq ft., $1350

Carrall Station: 402-1 E Cordova 1 Bedroom, 1 Bathroom, 585sq ft, $1350

The Kensington: 56-1386 Nicola 2 Bedroom, 2 Bathroom, 1335 sq ft, $2750

We have new listings coming on very frequently, so please visit our website on a regular basis.

Contact Theresa Prak at Downtown Suites for more info.

{ 0 comments }

Why are higher end rental suites in Vancouver bringing in fewer people per viewing?

At Downtown Suites we offer many condos and apartments in today’s rental market.

We have seen that the higher end suites ranging from $2000 per month and more are bringing in fewer people per viewing. What contributes to the lower number of viewers coming to the showings of these suites?

One of the factors is the new suites rapidly coming on the Vancouver rental market left, right and center. We have the Shangri-La, The Ritz, H&H, The Grace, The George, The Sapphire, and many others that are completing or have been completed. Suites there are often sitting empty because there is an overwhelming number of suites available in Vancouver with not enough people able to or wanting to rent.

This has a trickle effect on the rest of the rental market because prices are going down.

If these new higher-end suites are sitting empty, the owners must lower their rent.

This in turn brings all the other rental listings down, because if you have a suite that is for $2500 in a decent place, then see that the Shangri-La has one of their listing at $2500, it is heavy competition for the other suite to try and match the Shangri-La. So in response to that, the owner would have to lower their rent to be able to rent out the suite and not lose any money. Thus this is a domino effect on the rest of the rental market.

Furthermore people unsuccessfully trying to sell their property, are now putting their suites up for rent. This is contributing to the massive availability in the current rental market.

Nonetheless, all of the suites we have shown this month have seen a positive response, and great deal of interest. It is true that if rental suites are priced right, the suitable renter is not far behind.

{ 0 comments }

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.

{ 0 comments }

Maggie Chandler, knowledgeable and well-established Westside realtor.

For some time now at Downtown Suites we have been pleased to be working closely with successful realtor Maggie Chandler. Maggie’s work in the Vancouver Westside market and her specialization in condominiums, (specifically Downtown, Yaletown, West End, Coal Harbour, Kitsilano, False Creek and Fairview) fits well with our property management focus at Downtown Suites. We are grateful that she refers investment clients to us for their suite management.

Maggie was born in Barbados and has lived in Vancouver since 1973, and obtained her real estate license in 1981. In her over-25 years as a top producer, ranking in the Real Estate Board’s Top 1% for 4 of those years and top 10% for 17 years, including 2006 MLS Medallion Club Member, reveals her established knowledge and success. As well, over 70% of her business originates from repeat clients and their referrals, as Maggie has dedicated many years building lifetime relationships.

We are pleased and grateful to count Maggie Chandler as one of our professional colleagues. For more on Chandler Realty please check out her website.
(originally posted July 30, 2007)

{ 0 comments }

This suite is spectacular! A must see!

This two bedroom, two bathroom suite features a fantastic northwest exposure from the twenty-sixth floor with great views of mountains and the marina below. With open kitchen plan / layout, it comes with fabulous appliances, granite counter tops and tiled floors.

The area size of the unit is 1,165 square feet or 111 square meters. The building has, of course, top of the line amenities such as media room, gym and sauna.
There is twenty-four hour concierge for your security.

The rent includes, hot water and natural gas, in-suite laundry, in-suite storage/den with additional storage locker downstairs, bike storage and parking for one vehicle. Pets are allowed in this building.
All this is available now, for $2,700.00/ month.

For viewing, contact Monique or Lisa at Downtown Suites.
(originally posted July 19, 2007)

{ 0 comments }

We recently did this videoblog outlining our fees and services for Property Management at Downtown Suites.

Here it is, in three parts.

Our Fees and Services Part 1: Introduction to Downtown Suites
Our Fees and Services Part 2: Details on Our Services
Our Fees and Services Part 3: Downtown Suites Overview(originally posted June 7, 2007)
Note: these fees are now updated, call for more info.

{ 0 comments }