Bob Sethi, B.Comm | 604.273.2828

 
Property Photo: 427 5880 DOVER CREST in Richmond
I have listed a new property at 427 5880 DOVER CREST in Richmond.
OWNER RELOCATING FOR WORK AND MUST SELL ASAP!!!Top floor in exceptional "Waterside" building with North-facing water & mountain views. Well-kept 2nd-owner 2bdrm/2 bath featuring an open, spacious floorplan with bedrooms on opposite sides and a large, covered balcony. Gas f/p, insuite laundry, secured parking plus more. Building in great shape. Motivated Seller open to offers - call today!
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Property Photo: 11180 KINGSGROVE AVE in Richmond
I have listed a new property at 11180 KINGSGROVE AVE in Richmond.
Builder + Investor Alert!!! RS1/E duplex home 81' x 127' property pending 4th reading to two (2) RS2/B SFH building lots w/ 41' frontage each. Prime location on quiet residential street in McNair area w/ underground services, sidewalks, and curbs. Existing fourplex fully tenanted - pls do not disturb tenants. Bring offers - this double building lot propery will not last!
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Important information on the HST referendum

The Provincial Government has received the results of the HST referendum. The outcome was decisive, with just under 55% of voters choosing to extinguish the HST and return the province to a system of taxation using both the PST and GST.
 
The government says no changes will occur until at least May 2013. There is no information yet on what the details of the tax system will look like at that time.
 
In terms of what this means to you, the HST is still in place and will be until at least May 2013. I will be updated this blog as we learn more. If you're interested in learning how this affects your plans to buy or sell real estate please contact me at:
 
Bob Sethi, RE/MAX Westcoast 
604-273-2828
 
 
With information provided by the Real Estate Board of Greater Vancouver.
 
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Greater Vancouver home sales trend toward buyers’ market over summer

August marked the third consecutive month that home sale activity in Greater Vancouver was below the 10-year average for the month. In contrast, home listing activity in the region has exceeded the 10-year norm every month since the beginning of the year.
 
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) reached 2,378 in August. This total represents an eight per cent increase compared to the 2,202 sales in August 2010, but also ranks as the third lowest total for August in the last 10 years.
 
“MLS® statistics continue to indicate that we’re in a balanced market,” Rosario Setticasi, REBGV president said. “However, with a sales-to-actives listings ratio of 15 per cent, Greater Vancouver is in the lower end of a balanced market and has been trending toward a buyers’ market over the past three months.”
 
New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,685 in August. This represents a 24.9 per cent increase compared to August 2010 when 3,750 properties were listed for sale on the MLS® and an eight per cent decline compared to the 5,097 new listings reported in July 2011. Last month’s new listing total was the highest volume recorded for August in 16 years.
 
At 15,437, the total number of residential property listings on the MLS® increased 1.4 per cent in August compared to July 2011 and rose 0.1 per cent compared to this time last year.
 
The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 8.5 per cent to $625,578 in August 2011 from $576,597 in August 2010.
 
“Year over year, prices are up. However, in the detached home category, benchmark prices have come down slightly in each of the past two months,” Setticasi said. “It’s important for people entering the market to understand that activity can differ significantly depending on the area and property type.”
 
Sales of detached properties on the MLS® in August 2011 reached 1,020, an increase of 14.2 per cent from the 893 detached sales recorded in August 2010, and a 25.4 per cent decrease from the 1,367 units sold in August 2009. The benchmark price for detached properties increased 11.7 per cent from August 2010 to $888,243.
 
Sales of apartment properties reached 955 in August 2011, a 2.1 per cent increase compared to the 935 sales in August 2010, and a decrease of 34.8 per cent compared to the 1,464 sales in August 2009. The benchmark price of an apartment property increased 5.6 per cent from August 2010 to $407,457.
 
Attached property sales in August 2011 totalled 403, a 7.8 per cent increase compared to the 374 sales in August 2010, and a 33.9 per cent decrease from the 610 attached properties sold in August 2009. The benchmark price of an attached unit increased 4.5 per cent between August 2010 and 2011 to $511,433.
 
 
Information provided by the Real Estate Board of Greater Vancouver.  Copyright.  All rights reserved.   
 
 
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Property Photo: 422 12633 NO 2 RD in Richmond
I have sold a property at 422 12633 NO 2 RD in Richmond.
MOTIVATED SELLER IN GREAT STEVESTON TOP FLOOR WITH VIEWS! Bright and airy top floor Steveston home in excellent building, "Nautica North". Owner-occupied 2 bedroom, 2 bathroom with vaulted ceilings. Top quality upgrades: engineered hardwood floors, fresh paint, updated bathrooms plus more! Immaculate condition with professionally-cleaned carpets. Large balcony w/open views of lagoon & marina. Motivated Seller says try your offer. Call today!
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Bob Sethi, B.Comm
Office:604.273.2828
Fax:604.273.0685
RE/MAX Westcoast
#110-6086 Russ Baker Way
Richmond, BC
V7B 1B4 Canada

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