With just 3 weeks under our belt for 2011, the West End in Vancouver is not wasting time on the real estate front. Even with our longest, darkest and sometimes coldest month living up to it's reputation, the activity level has be a pleasant surprise. From waterfront homes in Coal Harbour - or the heart of the West End - both sellers and buyers are hitting the streets and asking all the right questions.
The Bank of Canada is continuing its policy on the record low interest rates while the Federal Government tightened up the lending terms a bit more to avoid any disasters witnessed south of the Border. This could affect some first time home buyers reaching the upper levels of their borrowing limit. But according to a good source - the banking industry has been for quite some time now applying tighter lending policy in the background - ensuring the worst case scenarios were at least projected and reviewed.
There has been approximately 51 new listings this month in the West End - of course covering almost every size, age, style and price range. A few notable properties just listed and a few of our recommended buildings is a property at 1277 Nelson Street. A 'Georgie' award winning concrete building - Nelson Place is right in the geographic center of the West End. Great area and great reputation offering solid concrete construction. Steps from Davie, Denman, Robson and Burrard Streets, there is a 573-square-foot, one-bedroom suite with a balcony facing west – listed at $385,000.00.
Another is Alberni Place - 738 Broughton. Suite 1001 is on the west side of the building just a block off Robson Street favouring Coal Harbour. If you are looking for 'big,' this is it! An entire half-floor boasting over 2,800 square feet – the list price is $1,320,000. The building itself has a great reputation for upkeep and repair and the original developer is still a resident.
The West End itself is already showing signs of spring. There is even reports a cherry tree is in full bloom very near the east side of Lost Lagoon! On the restaurant front - rumour has it Kam's Restaurant on Davie has been sold again. If you do remember - Kam himself was a mainstay up until last year when if fell into the hands of new owners and those of us who dined there miss his character and conversation – a true original. The new owners are said to be Banana Leaf – a very reputable establishment offering Malaysian cuisine and can also be found in the Kitsilano area, Broadway and on Denman Street. A great addition to the eatery options found on Davie Street.
I always welcome any feedback, questions, comments and if you find yourself enticed to explore the options on what the West End real estate market has to offer – contact me anytime and I would be happy to arrange a tour of area homes. Spring is just around the corner - your new home could be as well!