Welcome back. The West End has produced some steady and strong activity over the first quarter of this year - when much like the past 2 years - no one really could say with confidence how the market would fare as we entered 2011. With all that is going on in the world - it is nice to see there are still transactions occurring with buyers and sellers both - taking advantage of our record low interest rates. We have noticed a major influx of mainland Chinese buyers/investors who seem to be adopting the same stance as many others around the world. Looking for solid investment (non-stock market type - thank you Bernie Madoff) and a safe place to do it. With our banking system being ranked number one in the world - a stable government - and of course a constantly top-ten ranked city to call home - Vancouver and area has become THE destination for investors - once again. Detached home sales on the West Side are the talk of the town of late - selling like Canucks playoff tickets.
In the West End - we currently see 216 active listings. Up until today we have had 162 sales - ranging from - this has to be a record for size of neighbourhood - a sale price range from $173,000 to $5.4 million ! And yes as I said before - these two properties are within 3 blocks of each other. Be sure to visit the West End - we are almost through the bloom season and a great time to see the area and check out the variety of properties that are for sale.
On the West End news front - in case you missed it - the Pacific Pallisades Hotel has closed its doors and the new owners are converting this property to residential. Excellent location on the 1200 block of Robson Street at Jervis. The 44 year old towers will be refitted and over 200 suites will come to the rental market. The new owners hope to find a large retailer to anchor the business frontage on Robson Street - sad news is - it looks like Liberty Wine Merchants will be leaving the area.
As I mentioned a while back, Kam's Place on Davie Street has closed its doors and the area welcomes Banana Leaf to the district. Good news is Kam is back ! Be sure to drop by Red Ginger on Broadway at Oak Street - for not only his quality food but exceptional customer service.
If you are on Davie Street and looking for an excellent pasta option - a must visit is Cafe Luxy at 1235 Davie - but be warned ! Ensure your appetitie is screaming for some great Italian food - excellent but relaxed service in a snug atmosphere - the portions will no doubt have you feeling very satisfied. A rare sight is to see diners leave - empty handed.
Contact me anytime for all your real estate needs - whether in the contemplation stage or just curious as to what is happening and what could happen in the future. Visit my team website and see the level of service that is provided to you by selecting a property that is for sale.