Coal Harbour Condos for Sale - Luxury Waterfront Condos Vancouver : Archived blog posts for : 2024

I have sold a property at 5645 WESTPORT RD in West Vancouver

Posted on September 18, 2024 by Holly Calderwood

Posted in Eagle Harbour, West Vancouver Real Estate

I have sold a property at 5645 WESTPORT RD in West Vancouver on Aug 7, 2024. See details here

Beautiful fully renovated Post & Beam 3566 sqft 2 level Eagle Harbour Family home with Mortgage Helper Potential on a lg 13,482 sqft sun filled south facing lot with beautiful Gardens. Multi Generational Home with 6 bedrms, 4&1/2 bathrms & 3 Laundry's. Lg sunny Deck, perfect for summer barbeques & entertaining. Upper Floor has 2 bedrooms & office(can be a 3rd bedroom) & a 1 bedroom suite off the patio. Lower Lvl has a 2 bed 2 baths with separate entrance. Well maintained with many upgrades including a newly paved Driveway, new S/S Appliances, Furnace,Washer & Dryers, updated luxury spa style bathrooms, floors & kitchens all redone, EV Charger. Some Previous owner updates, Roof & windows (9 yrs approx). 2 car garage with lots of storage. Easy access to hiking trails, schools, parks, beaches, boating & shopping. Caulfeild Village, Rockridge High School, Eagle Harbour Elementary, Mulgrave School, Golf, Ski Hills, Yacht Club mins away. Downtown 30 mins, Quick Possession.

Read

Canada’s most-expensive home for sale is in West Vancouver

Posted on September 16, 2024 by Holly Calderwood

Canada’s most-expensive home for sale is in West Vancouver

For $58.8 million, you can own this massive waterfront property designed by Russell Hollingsworth. The most expensive home for sale in Canada is sitting on the West Vancouver waterfront.

For $58.8 million, you can buy the property at 3330 Radcliffe Ave., located in the West Bay neighbourhood. At nearly 10,000 square feet, the five-bedroom, six-bathroom structure was custom designed by reputed architect Russell Hollingsworth, son of West Coast Modern legend Fred Hollingsworth.

Evocative of that style, the home is perched on a rock face with more than 200 feet of shoreline. Banks of floor-to-ceiling windows offer continuous views to the roiling ocean, backdropped by Stanley Park and Point Grey.

The gated property features an oceanside swimming pool, outdoor spa, covered dining terrace and parking garage for four vehicles. click here to buy

(Story by Nick Laba North Shore News)

Read

HOW THE MORTGAGE RULES COULD CHANGE THE MATH FOR HOMEBUYERS

Posted on September 16, 2024 by Holly Calderwood

HOW THE MORTGAGE RULES COULD CHANGE THE MATH FOR HOMEBUYERS

While the changes will make it easier for first-time buyers to purchase a home, they could wind up paying tens of thousands of dollars more in interest.

New federal rules would help homebuyers access lower mortgage rates for pricier properties and pay smaller instalments over a longer time period, but the changes would also allow borrowers to take on more debt and pay more interest on it.

Under the coming regime, set to take effect Dec. 15, buyers will be able to get a mortgage with default insurance – which is mandatory for those with less than 80 per cent of equity in their home – for properties worth as much as $1.5-million, up from a cap of $1-million.

The federal government, which announced the new rules Monday, will also allow first-time homebuyers to take a maximum of 30 years to repay an insured mortgage on any type of home. And all buyers, including investors, will have access to 30-year mortgages if they are buying a newly built home. Until recently, buyers with less than 20-per-cent down could take a maximum of 25 years to repay their debt. click here to read more

Article C/O North Shore News | Globe & mail

Read

The Bank of Canada makes its third consecutive rate cut, lowering the overnight lending rate to 4.25%.

Posted on September 4, 2024 by Holly Calderwood

The Bank of Canada makes its third consecutive rate cut, lowering the overnight lending rate to 4.25%.

Latest Update: September 3, 2024

The Prime Rate declined to 6.45% as the Bank of Canada reduced the policy rate by 25 basis points to 4.25%.

Inflation reached 2.5% in June 2024, down from a multi-decade high of 8.1% in June 2022. Weakness and oversupply in the economy are pushing inflation down, while shelter and some service costs are keeping it high. Inflation is still higher than the Bank of Canada's (BoC) 2% target, but it is heading in the right direction. Therefore, the BoC is bringing its policy rate toward the neutral rate.

The Bank of Canada lowered its policy rate again, aiming to nail the soft landing of the Canadian economy:

Annualized seasonally adjusted 9-month inflation between October 2023 and July 2024 was 2.3%.
Annualized adjusted inflation over the past three months was 2.8%.
The unemployment rate has risen from 5% at the beginning of 2023 to 6.4%.
Excess demand is no more, and once again, the Canadian economy is in excess supply of goods and services.

The prime rate rose from 2.45% in March 2022 to 7.2%, its highest level over the past 22 years. After almost one year at 7.2%, it went down to 6.45% over the past quarter. As inflation is heading to the target and the largest contributor to inflation is shelter, whose shortage cannot be resolved by monetary policy, in fact, higher rates result in higher inflation for the shelter component of the CPI basket. In summary, the prime rate is heading down. click here for historical rates

Read