> & real éstate be your. adv. vantage

PRE DP 3 : ey aS
APPEALING FAMILY HOME UPPER LONSDALE GREAT LOCATION ‘AND VALUE
4/5 Bedroom in woodsy setting on cul-de-sac. Downstairs is ideal for nannyfincome. Pretty as a picture inside and out. Updated, Icis of skylights, 16 ft. ceilings in living room, two
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PLEASANT SURPRISE GET INSIDE

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Located on a 58 x 135 level fenced lot ideal for pets & kids and offering 2700 sq ft of spacious wood and a new cusiom kitchen. Private master bedroom on separate level offers 3 piece ensuite,
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‘North “Shore Real Estate Update November 2000
FEDERAL ELECTION WOW’T EFFECT BUT WAIT FOR

Imost all local Real Estate analysts predict a strengthening (some, a dramatic one) in the local market once B.C. elects (an

inevitable?) provincial Liberal government. indeed a recent Vancouver Sun article quotes Bill Philiips, president of the Real

Estate Board of Greater Varicouver as saying that Vancouver's sales rise in October “could be in anticipation of a provin-
cial election just around the corner”. | fully endorse this viewpoint. ,

We still see evidence on the North Shore of a fairly conservative “wait and see” approach, especially on North Van's part, with
detached sales continuing down (Oct'00/Oct'99) by 6.5%; attached down 23% and apartments down 28%. That’s the num mber of
sales — all average prices continue to run ahead of (YTD) 1999. In West Van however, the “flavour of the

months” continues with detached sales (+21%), attached (+33%) and apariments (+6%} on an

(Oct’00/Oct'99) YTD basis.

Again, | give a minor caution in that a continuing trend is evident in number of units for sale. The “listings

inventory” is generally up over fast year in almost ali categories e.g. detached N/Van (+19%), W/Van

(+10%). The only minor contrarian is W/Van attached — down 17% but this is likely less significant bear-

ing in mind the smaller numbers i.e. 73 units for sale. We are not looking at an excessive number of list-

ings, cornparing the present with traditional levels for this time of year, and when the demand side of the

equation returns (post election?), | believe these inventories may be absorbed without a drop in prices.

By the next Update, both our North American countries will have new governments and as | started off

saying — little change will likely emerge from either of these. {t is still largely a buyers’ market, especially

in North Van and by mid-2001, ! predict there will be a number of folk quoting the famous line “gosh, | L ar: ie
wish I'd bought last year’. Not a time for panic buying but one for judicious offers without competition. Alan Skinner
Please don’t hesitate to call/e-mail with any questions on local realestate, whether buying, selling or just looking at future options. -

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