“THE SIERRA” TOP FLOOR 2 bedrooms, south facing, bright, vaulted ceilings. Pets allowed. Quality Buron building don't miss this one! #510 - 150 WEST 22ND, N. VAN on MASTER |: EE : a APPEALING FAMILY HOME 4/5 Bedroom in woodsy setting on cul-de-sac. Downstairs is ideal for nanny/ income. Handsworth and Montroyal School catchment area. Close to tennis courts, playground and trails. Great home office down. 5648 PTARMIGAN PLACE,N. VAN OPEN BY APPT SPYGLASS HILL, GROUSEWOODS Approx 2800 sq-ft. of living space in quality complex. 15 year old home with up to 5 bedrooms /4 bathroorns and a den. Attached 2 car garage. Watch wild birds in your own private garden that backs onto greenbelt. 5700 OWL COURT, N. VAN TOP VALUE AVAILABLE IMMEDIATELY Top floor, one bedroom unit with balcony } on one of Lower Lonsdale’s quieter streets. Walk to Lonsdale, the Quay and the seabus. This one will not last! #310-175 EAST 4TH ST., N.VAN. - | Alan is the host of "The Real Estate Show" aired at 2 p.m. on Sundays on CFUN-1410AM Listen in - Phone in with your questions. _ . North Shore Monthiy Real Estate Update - August 2000 THE SECOND WAVE? - OR AT LEAST, RIPPLE Real Estate watchers will remember that in the late eighties, early nineties we saw a surge in home prices. This had a significant and far reaching impact on our Vancouver West Side (and to some extent, West Vancouver). We were hearing stories of older homes in West Side neighbourhoods selling in the $500/800K range - being demolished and many larger homes, catering to an immigrant market appearing in their place. This phenomenon is interesting of itself, but, to us on the North Shore it had an interesting spin off effect. Many of the sellers moved to the North Shore and, with part of their proceeds could buy better homes than they had sold. Well, its starting again. Vancouver Sun Aug 3rd ran a headline “Immigrants once again push residential prices”, citing a “rising tide of new immigration from Asia”. The article discusses a new wave of buyers from Mainland China, Taiwan and Hong Kong and - goes on to illustrate that average prices of detached and condos have all increased since this time last year despite overall numbers of units solid being down. The comment is made that “there are definitely “more people looking for million dollar homes”. ~ What does this mean to us? Will this mean another “northern migration” by those selling? | would say this is quite possible, but we will likely only see the impact over the next six plus months (based on the lag effect we noted last time). Closer to home the same story applies — fewer sales (year to date) but higher average prices in all sections of North Van. West Van remains the flavour of these past months with numbers of sales up as. well as average prices up. All inventory levels are up over this time last year with the minor exception of West Van condo apartments, which have dropped from 92 to 84 (July’99/ July’00). These higher _. inventories, which are likely to continue through summer, are the thing that will slow the average price until the second wave? . N.B. | have “lightened up” on actual stats this month (percentages, numbers etc.) — if you would like more detail on any specific segment of our North Shore market, please do not hesitate to send me a reply e- mail specifying segment or suburban geographic area and I'll be happy to provide this.