Real Estate

Nicholas Meyer introduces Frances Hui, who represents Downtown Suites at events, meetings and celebrations around Vancouver. Recorded at Coast Restaurant.

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Just posted the new Fall Update in our featured video section. If you are getting this from our newsfeed, you can see the video here:

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We would appreciate any referrals you may have in regards to your clients who have purchased for investment and who may be looking for a property manager and potential tenants.  It could also be a value-added service from you, to be able to recommend the property management services of a reputable company such as Downtown Suites Ltd.

As you may already know, Downtown Suites Ltd. is a firm of proven, professional, caring and conscientious people; the kind of people you can depend on. I have personally been in the industry since 1978 and I started Downtown Suites back in 1994.  We own our own offices, clear title, at Conference Plaza and  have five fully qualified licensed property managers on staff and two in house accountants to ensure that everything is well organized.  In addition, all funds are held in trust for the client and our books are audited annually by the Real Estate Council. Our aims in managing our client’s property are high, and our fees are very fair and reasonable. (8% for ongoing 24/7 management – no up charging and 1/2 a months rent to secure tenants)  We continually strive to offer the finest condominium property management service in downtown Vancouver.  We pride ourselves on service, and we will do whatever necessary to make you look good.  Please review our web site for further information on our company:  www.downtownsuites.com

Your clients are always your clients, your name is on the file and is always referred back to the client should they advise they wish to make any real estate transaction.  In addition we are happy to send a fine dining certificate to Top Table Restaurants (Cin Cin, Blue Water Café etc) to you to show our appreciation.

Thank you once again for considering us, we appreciate your business.

Sincerely,

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Whether it’s golfing, sailing, or skiing, you can enjoy more of it when you put your property in our hands.

Downtown Suites, a boutique property management company, specializes in management of strata-titled suites, apartments, town homes and town houses in Downtown Vancouver and the Westside. As licensed professionals under the B.C. Real Estate Act, we have been serving our clients for more than 25 years.

We provide expertise and individual attention to all the properties we manage. We offer comprehensive, fully customized suite management. Our clients enjoy profitable and carefree ownership.

Find out how we can help you manage your property!

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Here’s some good news from the British Columbia Real Estate Association:

August Home Sales Continue at Brisk Pace

Vancouver, BC – September 11, 2009. The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province climbed 66 per cent to 8,565 units in August compared to the same month last year. The average MLS® residential sales price in the province climbed 12 per cent to $471,078 from $421,685 in August 2008.

“Homes sales continued at a rapid pace in August,” said Cameron Muir, BCREA Chief Economist. “Attractive home prices and low mortgage rates were key drivers in the market.”

The number of active residential listings declined 20 per cent over the past year, with August posting 26 per cent fewer active listings than the peak in December 2008 (seasonally adjusted). “Home prices edged higher in many markets over the summer months as declining inventories created competition among homebuyers for the best properties.”

Year-to-date, MLS® residential sales dollar volume declined 2 per cent to $25 billion over the same period last year. A total of 54,945 units were sold in the first eight months of 2009, up 1 per cent from 2008, while the average MLS® price declined 2 per cent to $454,769.

For the complete news release, including detailed statistics, follow this link: www.bcrea.bc.ca/news_room/2009-08.pdf.

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The Real Estate Board of Greater Vancouver has just released the August stats:

Market momentum carries into August

The number of home sales in Greater Vancouver increased significantly last month compared to August 2008 and moved closer in line with the active summer months experienced between 2003 and 2007.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver increased 119.5 per cent in August 2009 to 3,441 from the 1,568 sales recorded in August 2008 and increased 1.7 per cent compared to August 2007.

New listings for detached, attached and apartment properties increased 4.9 per cent to 4,544 in August 2009 compared to August 2008 when 4,331 new units were listed. Total active listings in Greater Vancouver currently sit at 11,937, down 33 per cent from August 2008.

“The return of confidence to our market has brought a high volume of home sales over the last few months and has also made determining home prices a little more challenging,” said Scott Russell, REBGV president. “The number of residential home sales this summer has been comparable to activity seen in the five years preceding 2008. While that’s great news, from the variations in activity we’re seeing across areas I’d say the market is still trying to find its own balance.”

Since the beginning of the year, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver has increased 11.4 per cent to $539,600 from $484,211. However, home prices compared to August 2008 levels are down 1.1 per cent.

Sales of detached properties in August 2009 increased 155.5 per cent to 1,367 from the 535 units sold during the same period in 2008. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties declined 0.7 per cent from August 2008 to $732,656.

Sales of apartment properties increased 97.8 per cent last month to 1,464, compared to the 740 sales in August 2008. The benchmark price of an apartment property declined 1.4 per cent from August 2008 to $369,263.

Attached property sales in August 2009 increased 108.2 per cent to 610, compared with the 293 sales during the same month in 2008. The benchmark price of an attached unit declined 0.9 per cent between August 2008 and 2009 to $459,159.

For more info on these and other statistics, visit www.rebgv.org.

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Nicholas Meyer recorded two recent videos outlining the current state of the Vancouver Rental Market at the end of August 09.

You can view the second video, End of August Update, in the sidebar to the right, or link to it here.

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We posted a video recently, where Nicholas Meyer introduced local realtors to the residential property management services at Downtown Suites.

In case you missed it, you can view it here.

Benefits to Realtors who Refer Downtown Suites to Clients

• Realtor Protected – Your clients remain your clients when they wish to buy or sell.
• Fine Dining Certificate – Given to referring realtors as a token of our appreciation.
• Confidence – Knowing your clients will receive the highest level of professional property management service

Our Simple Fee Structure

• Half a month’s rent to secure new tenants
• 8% of monthly rent for 24/7 365 days a year service (minimum $100 – maximum of $250)

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In this video, Nicholas Meyer of Downtown Suites in Vancouver goes over the responsibilities for suite maintenance – for both owners and tenants.

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