Be careful that you only rent from legitimate companies. Over the weekend we found fraud was getting very close to home when we were informed of a bogus ad for a suite on Craigslist. A suite for $700 is not very likely in downtown Vancouver is  it? And, get this, the address of the so-called suite was the address of our company offices! We own the space and are not renting!

A helpful reader responded to an ad on craigslist.ca for a 1 bedroom listing for $700.00 and then sent us this email she received from the “owner”.

Thanks for your email response.. The Apartment is still available for rent on #247-515 West Pender St., Vancouver, BC, V6B 6H5 , ready for move in at $700monthly. ready for move in. I inherited the Apartment from my late father.. I lived in the Apartment with my younger sistser, i but presently now i am in West Africa and i will reside here for some time due to my current assignment. I just need someone with an open heart, love and clean to occupy the Apartment and put all my worries off concerning the maintenance of the Apartment for, since i am not residing there for now. …(and so forth)

Recalling a similar incident, Lisa Taylor in our office said, ” I encountered a fraud rental in Vancouver last fall, for a fully furnished 1 bdrm in False Creek…  the building existed but not the suite…”

We have never had any problem in using Craigslist for our rentals and they have good advice about what to watch for. Below is their list of who to contact in case of a scam. See more on their About Scam Page.

* FTC toll free hotline: 877-FTC-HELP (877-382-4357)
* FTC online complaint form (http://www.ftc.gov)
* Canadian PhoneBusters hotline: 888-495-8501
* Internet Fraud Complaint Center (http://www.ic3.gov)
* Non-emergency number for your local police department.

If you suspect that an item posted for sale on craigslist may be part of a scam, please email the details to “abuse@craigslist.org”. Be sure to include the URL (or eight-digit post ID number) in your message.

It goes without saying that at Downtown Suites we have direct relationships with all our clients, and we are scrupulous to ensure that we meet and screen all prospective tenants face to face, on site at the actual suite.

This is in keeping with Craigslist #1 scam preventer: “DEAL LOCALLY WITH FOLKS YOU CAN MEET IN PERSON – follow this one simple rule and you will avoid 99% of the scam attempts on craigslist.”

Last week we showed a sunrise; today it’s a typical sunset over English Bay.

Image by SqueakyMarmot

1710-1500 Hornby

Monthly Rent: $2495, 2 Bedrooms, 2 Bathrooms, 1212 sq. ft.

‘Prestigious 888 Beach building’. Enjoy the beautiful water views of Granville Island & English Bay.

At Downtown Suites we manage hundreds of unfurnished suites, ranging from basic downtown studios to luxurious waterfront penthouses. Go here for all currently available listings.

1260 Richards Street, The Grace

Monthly Rent: $4200, 2 Bedrooms, 2.5 Bathrooms, 1624 sq.ft.

Luxury 2 level townhome at The GRACE – Vancouver’s most distinctive residences – Available April 1st.

At Downtown Suites we manage hundreds of unfurnished suites, ranging from basic downtown studios to luxurious waterfront penthouses. Go here for all currently available listings.

We’re wearin’ the Green and celebrating St. Patrick’s Day at the DTSuites Office!

Image by Duane Storey

Vancouver, BC, March 13, 2009.

British Columbia Real Estate Association (BCREA) reports residential sales dollar volume on the Multiple Listing Service® (MLS®) in BC declined 53 per cent to $1.54 billion in February, compared to the same month last year. Residential unit sales fell 47 per cent to 3,653 units during the same period. The average MLS® residential price in the province was $421,023 in February, down 12 per cent from February 2008.

“After a weak start to the year, BC MLS® residential sales increased 17 per cent in February, on a seasonally adjusted basis,” said Cameron Muir, BCREA Chief Economist. MLS® residential sales in the province climbed from a seasonally adjusted and annualized rate of 40,200 units in January to 47,000 units in February.

“It’s not surprising that home sales rebounded from January’s low level,” noted Muir. “Reduced home prices and mortgage interest rates have markedly increased affordability. The carrying cost of an average home in BC is approaching a three-year low.”

Year-to-date, MLS® residential sales declined 51 per cent to 5,768 units compared to the first two months of 2008. The average MLS® residential declined 11 per cent to $418,057, while MLS® residential dollar volume was down 56 per cent to $2.4 billion over the same period.

For the complete news release, including detailed statistics, follow this link: www.bcrea.bc.ca/news_room/2009-02.pdf.

These featured affordable rental listings include a Gastown studio, an excellent suite in Coal Harbour and a 27th floor view suite.

Studio Suite Now Available in The Van Horne

214 – 22 E Cordova St in Gastown

465 Sq. Ft, $975/month

Located near Gassy Jack Square, Tinseltown Shopping centre, T&T Grocery, skytrain and seabus stations, Chinatown. Available immediately.

Best One and Den at the Pointe

#509 – 1331 W. Georgia St. in Coal Harbour

Sq Footage: 661 sq. ft, 1Bedroom +den, 1 Bathroom, $1250/month

Located at W. Georgia St. and Jervis St. in Coal Harbour. Near Robson St., shopping, restaurants, transit, grocery stores, and the Seawall.

Bright and Spacious – City and Mountain Views!

2707 – 928 Richards Street

562 Sq Ft, 1 bedroom, 1 bathroom, $1400/month

Be the envy of your friends living in this suite with fabulous N.W. mountain and city views from the 27th floor.

*****

At Downtown Suites we manage hundreds of unfurnished suites, ranging from basic downtown studios to luxurious waterfront penthouses. Go here for all currently available listings.

Image by SqueakyMarmot

Property listings decrease, as February sales improve

Residential housing sales in Greater Vancouver rose 94 per cent in February compared to the month before, with 1,480 sales registered in February compared to 762 sales in January, which was the slowest month for housing sales in 25 years. Over the past 10 years, February sales have typically surpassed January by an average increase of 53 per cent.
At the same time, new MLS® listings for residential properties continued to decrease for the fourth month in a row. New listings decreased 25.6 per cent in February compared to the previous year; 20 per cent in January; 8.6 per cent in December; and 10 per cent in November.

“There are terrific opportunities out there right now, but with property listings continuing to decrease, those opportunities may be available only for a brief window of time,” said Dave Watt, president of the Real Estate Board of Greater Vancouver (REBGV).

REBGV reports that year-over-year property sales in Greater Vancouver declined 44.7 per cent in February 2009 from the 2,676 sales recorded in February 2008. Year-over-year, those are the lowest sales figures for February since the mid-1980s.

“REALTORS® are reporting more activity compared to recent months as people begin to see whether their position in the housing market has strengthened as a result of falling interest rates and improved affordability,” Watt says. “It took, on average, 67 days to sell a home in Greater Vancouver in February, seven days less than last month, but behind the seller’s market of last February when the average stood at 33 days.

Sales of detached properties in February 2009 declined 41 per cent to 587 from the 995 units sold during the same period in 2008. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties declined 14.2 per cent from February 2008 to $653,452.

Sales of apartment properties declined 45.6 per cent last month to 650, compared to the 1,197 sales in February 2008. The benchmark price of an apartment property declined 13.9 per cent from February 2008 to $333,143.

Attached property sales in February 2009 decreased 49.8 per cent to 243, compared with the 484 sales during the same month in 2008. The benchmark price of an attached unit declined 9.7 per cent between Februarys 2008 and 2009 to $426,268.

New listings for detached, attached and apartment properties declined 25.6 per cent to 3,916 in February 2009 compared to February 2008, when 5,260 new units were listed.

Full article and more info here on the REBGV site.