Completing on a Presale Condo in Vancouver and Appraisals.
I recently had the pleasure of interviewing Chad Watts of The Mortgage Group about an experience he had during the the Completion of a Pre-Sale Condo here in beautiful Vancouver, BC.
Developers in many cases only give 10 days notice of the Completion of a Presale Condo. During this time sometimes up to several hundred appraisers need to get access to and appraise the soon to be Completed suites.
(Not sure what an appraiser is? Check out this great explanation with video on What is an Appraisal!)
The Werks – A New Residential Pre-Sale Condo in Fairview!
The Werks is a new presale condominium in Vancouver’s Cambie Village traditionally known as Fairview. This 7 level 20 suite concrete building which will have 555 West 7th Avenue between Cambie Street and Ash Street as the official address. There will be two street facing ground level units which will be 559 West 7th Avenue, a 1 bedroom and 557 West 7th Avenue which is a studio address.
Central Westside Location
The location is just a few blocks south of the seawall and steps to Whole Foods, Best Buy, Canadian Tire, and everything great in Cambie Village, Fairview, and the West Broadway Corridor. The Canada Line is also a few minutes walk away, making getting Downtown easy and quick.
Home listings continue to rise in the Greater Vancouver housing market
Consistent increases in property listings and fewer home sales over the summer months has helped move the Greater Vancouver housing market into the upper end of a buyers’ market.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) reached 2,246 in September, a 1.2 per cent increase compared to the 2,220 sales in September 2010. Those sales also rank as the third lowest total for September over the last 10 years.