Nicholas Meyer of Downtown Suites, Ltd. discusses the suite rental situation for October 2008.

Home Prices Down; Affordability Improves

Vancouver, BC – October 15, 2008. British Columbia Real Estate Association (BCREA) reports residential sales dollar volume on the Multiple Listing Service® (MLS®) in BC declined
39 per cent to $2.1 billion in September, compared to September 2007. Residential unit sales were down 34 per cent to 5,107 units during the same period. The average MLS® residential price in the province was $412,149, down 7 per cent from September 2007.

“Weaker consumer demand and a large number of homes for sale are having an impact on home prices in the province,” said
Cameron Muir, BCREA Chief Economist. “Despite relatively strong fundamentals, consumer confidence is low. The global liquidity crisis and volatile equity markets are intensifying this sentiment, causing many households to pull back spending on major purchases.”

“However, affordability is improving,” added Muir. “The carrying cost of the average home in the province is now lower than at any time since the end of 2006.”

Year-to-date MLS® residential sales dollar volume in the province declined 24 per cent to $27.5 billion compared to the same period last year. Provincial MLS® sales declined 28 per cent to 59,742 units, while the average residential price increased 6 per cent to $460,621 over the same period.

Cameron Muir
Chief Economist

REBGV

For more information on Real Estate or Market Conditions please contact:

Victoria Farrell

Downtown Suites Ltd

victoria@downtownsuites.com

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

Good things come in small packages!

Great central downtown location, close to everything. Perfect studio suite for investment or first time buyers. Currently renting for $1275 per mo (tenant moving out end of June). This suite has been completely renovated with attention to all detail. Kitchen upgrades include new cabinetry, counters, tiling, stainless appliance package,laminant flooring, designer paint. Completely renovated bathroom including new vanity, bathtub and tiling. Furnishings are negotiable. To see additional pictures on this listing and others please visit out website. First Showing this  Saturday May 31, 2-4 Please phone to book appointment:

Victoria Farrell

Downtown Suites

victoria@downtownsuites.com

778-898-8179

Downtown Suites has long been a member of the Better Business Bureau, and as their new card came to us recently in the mail, I decided to show it in this brief video clip.

#1007 – 1723 Alberni Street

Enjoy views of Bayshore Marina, Stanley Park, and the North Shore Mountains from this luxury corner suite, located on Alberni and Bidwell, steps away from Robson Street, restaurants, shops, transit, Stanley Park, and the Seawall.

This suite is 840 square feet with 2 bedrooms, 1 1/2 bathrooms, plus a den. This suite has fabulous features; hardwood floors in the kitchen, dining and living room, natural gas fireplace, granite-topped kitchen island. It has all the essentials; dishwasher and fridge with panels matching the wood kitchen cabinetry, built in microwave, and Jenn-Air gas range with Jenn-Air downdraft venting.

This corner suite offers panoramic views of the mountains, water & city. For ease and convenience, a storage locker & private locked separate garage for 1 vehicle are available. The building offers a common area, with a billiards table. Cats will be considered.

This suite is available August 1st. Contact us at www.downtownsuites.ca for viewing, and to see many more luxurious suites.

The City of Vancouver Rezoning & Planning Department has finally released its official report on the proposed high rise project to be located on the corner of Pender and Broughton. Good news, this building on Pender has only received approval for 10 floors NOT 15 floors. Qube has been an architectural icon in Vancouver since it was built in 1969, and is part of the city’s history.

The developer (Reliance Holdings) of the project on Pender is also kicking in $3 million to help complete the Coal Harbour Community Center and school!!!

The city is also approving a 36 floor tower ½ block further west on Pender – watch for more info on this new development.

Going west toward Stanley Park from the Marine Building, the Vancouver Sculpture Biennale had several installations in the Coal Harbour area, making the walk along the recreational paths a stimulating experience, particularly if you took advantage of the cellphone guide to the pieces shown.

The whole event is completed at the end of this month, and while it was here, it added a great deal to the mix in open spaces of the Coal Harbour neighbourhood.

King and Queen by Sorel Etrog, as seen in the Harbour Green Park, looking toward the North Shore.

Installed in a square bounded by condos on two sides, the street to the south and the view of the harbour, Device to Root Out Evil by Dennis Oppenheim has been an ongoing conversation piece.

For more on the Biennale, and the works shown, go here – their site.

Coal Harbour is one of the most innovative planned communities in Vancouver. The luxury glass-clad waterfront properties are only one component of this area, which also features the green-roofed Coal Harbour Community Centre. Family amenities include many of the ongoing activities and classes at this centre, and in December there are several events planned.

The community is preparing for a beautiful celebration of the Winter Solstice on December 22nd, which will feature lanterns and processional drumming along the seawall. A lantern-making workshop kicks it all off, on December 10th, with artists from the Secret Lantern Society helping everyone prepare for the procession. Pre-register for the lantern making events through the Coal Harbour Community Centre.

Also upcoming on December 10th, Santa will be seen at the Harbour! Residents are encouraged to journey with their pre-school children to meet Santa through a magical winter wonderland where holiday games and Christmas crafts await at each stop along the way. Pre-registration is always recommended for this popular family event. You can contact the Coal Harbour Community Centre, 480 Broughton Street, at 604 718-8222.

Coal Harbour is more than the views and proximity to downtown and Stanley Park; it’s also an active and growing community. I want to share with you a quick look at the offerings from the Coal Harbour Community Centre, which reveals a side to the area that you may not be aware of.

Active and fun. The annual Coal Harbour Canada Day celebration featured free activities in the community centre, including Pilates, Yoga, Salsa, and Tai Chi. Live outdoor entertainment in Coal Harbour Park featured drumming, music, and song. Barbeque, kids activities such as face painting, balloons and games, all took place in this spectacular location.

Fantastic building and great programs. The beautiful new Coal Harbour Community Centre houses a Gymnasium, Multipurpose Room (great for event rental), Dance Studio, Activity Room, Arts and Crafts, and Meeting Room. Affiliated with the West End Community Centre, Coal Harbour membership includes access to both facilities. The Coal Harbour centre serves the whole neighbourhood with programs for Preschoolers, Children, Youth, Adults and Fifty plus.

Help the Heart and Stroke Foundation. So you missed Coal Harbour’s June 24th 108 Yogathon? It involved completing 108 sun salutations, and was a special event to raise donations for programs funded by The Heart & Stroke Foundation of BC & Yukon.

There’s still time to take part in the Run for the Heart Coal Harbour Seawall Run on Saturday July 29th. Complete a ten kilometre circuit around the beautiful Stanley Park seawall and raise funds to support The Heart & Stroke Foundation of BC & Yukon. This run is a fun, family event suitable for all levels. Walkers are welcome! (Register through the Coal Harbour Community Centre)

Activities for Kids. For children at Coal Harbour this summer, programs include Parent-tot creative time, pre-school artists, baking on the break, fun with French, dance classes for ages 2-6, fine arts summer camp, physical recreation for kids 2 up, birthday parties, clay Art, ESL, Piano lessons, karate, basketball, tennis, kids kayaking and soccer and much more.

Great Parks on the Watefront.City of Vancouver parks in the area are Coal Harbour and Harbour Green Parks, both situated downtown on the Coal Harbour waterfront. Coal Harbour Park is uniquely located on the rooftop of the Community Centre and has an adventure playground and an area for arts, crafts and games. Harbour Green Park is a short walk from the community centre heading east along the seawall. It has a water spray park and lots of green space for games and activities.