Dana Torrell Real Estate

11/06/2024

This one didn't last long- Sold in 2 weeks!
The Windsong at Ravenwoods

💰 Listed for $689,000
✅ 2 Bed
✅ 2 Full Bath
✅ Fully Renovated
✅ New Lighting
✅ Private Outlook
✅ Heated Floors in Primary
✅ Pets Allowed
✅ Club House

Call for sold price 🔥

11/02/2024

OPEN TODAY 1:30-2:30 PM 👇

Open Sat Nov 2nd- This 2 bedroom plus large den unit in the SMART building by Concord Pacific is almost 1000 sq/ft!

🔥 Hot Price at $699,000 🔥

✅ 2 beds
✅ 1 bath
✅ Large Den
✅ Gym
✅ Storgae
✅ 1 parking
✅ Pets Allowed
✅ Super Bike friendly
✅ Incredible Value

Get into the market at the lowest price per sq/ft for a 2 Bedroom Downtown.

**Photos are from before the unit was tenanted. Will look different upon viewing

10/30/2024

One more day until Halloween!!

Be sure to stop by some of these houses for their creative displays:

1. 3637 Maginnis Avenue-North Vancouver
😈 aka Dovercourt Crpyt- A special haunted house experience. Check their FB page for details on what is happening today and tomorrow https://www.facebook.com/dovercourtcrypt/

2. 141 W 27th Street- North Vancouver
👽 An outdoor display and spooky haunted walk-through awaits at 27th St. West.

3. 402 Hadden Drive- West Vancouver
👹 This dark and spooky yard features a smoke machine, creepy music, dramatic lighting and extensive displays.

4. 3545 Emerald Drive- North Vancouver
👻 A very cool and creative display

5. 954 Forest Hills Drive, North Vancouver
💀 Look for the chandeliers and spirit women! They even have a Photo Booth with props

Make sure to drive by and check out these houses before they all pack up tomorrow night!! Happy Halloween!!!

09/24/2024

Exciting News to Help Homebuyers and Those up For Renewal!

**Higher Price Cap for Insured Mortgages:

Starting December 15, 2024, homebuyers can purchase properties up to $1.5 million with less than a 20% down payment. This adjustment allows more homes to qualify for insured mortgages, increasing accessibility for buyers.

**Expanded 30-Year Amortization:

More buyers, especially first-time homebuyers and those purchasing new builds, can now access 30-year mortgage amortizations, reducing their monthly payments and making homeownership more affordable.

**No Stress Test at Renewal for Insured Mortgage Holders:

Insured mortgage holders can now switch lenders at renewal without needing to pass another stress test. This is a major advantage in today’s higher interest rate environment, enabling borrowers to secure better rates without the fear of requalification.

**Reduced Stress at Renewal:

As mortgage rates are currently higher than when many first obtained their loans, the removal of the stress test eases the renewal process, giving homeowners more flexibility to find the best deal and improving competition among lenders.

**Additional Financial Tools for First-Time Homebuyers:

Combined with the new First-Time Homebuyers Savings Account and the increased RRSP withdrawal limit (raised from $35,000 to $60,000), these changes give Canadians more tools than ever to access homeownership. This represents the most significant policy shift since 2012.

Full article from Sept 16th: https://www.canada.ca/en/department-finance/news/2024/09/government-announces-boldest-mortgage-reforms-in-decades-to-unlock-homeownership-for-more-canadians.html

06/12/2024

🏡 This 1 bed 1 bath condo in the heart of Lower Lonsdale will make you feel right at home the moment you walk through the door.

✅Top floor
✅Vaulted ceilings
✅Bright and spacious
✅Updated kitchen
✅689 sq/ft
✅Insuite storage
✅Insuite laundry
✅Bike room
✅1 parking
✅Great building
✅Pets allowed

$635, 000
415-332 Lonsdale avenue

06/03/2024

🏢 Strata corporations can no longer indefinitely defer strata depreciation reports thanks to new provincial regulations that close a loophole in the Strata Property Act.

📝The loophole had allowed strata corporations to indefinitely defer depreciation reports.

As of July 1, 2024, existing strata corporations with five or more strata lots will be required to:

✅ obtain a depreciation report at least once every five years;
✅ develop a long-term repair and maintenance plan for their property;
✅ build up their contingency reserve funds; and
✅ avoid special levies.

🏢 Strata corporations formed between July 1, 2024, and June 30, 2027, must obtain depreciation reports within two years of the first annual general meeting and every five years thereafter.

🏢 Strata corporations formed on or after July 1, 2027, must obtain depreciation reports within 18 months of the first annual general meeting and every five years thereafter.

“These regulations will help protect strata owners by ensuring depreciation reports are obtained regularly, providing them with the information and predictability they need to plan for future costs,” said Ravi Kahlon, minister of housing.

Strata corporations without depreciation reports
Strata corporations without depreciation reports or depreciation reports received prior to Dec. 31, 2020, must obtain them by:

🗓️ July 1, 2026, if located in Metro Vancouver, Fraser Valley areas, or the Capital Regional District (excluding the Gulf Islands and all other islands); or

🗓️ July 1, 2027, if located in other areas of the province.

Reports must be from a qualified professional
Effective July 1, 2025, strata corporations must also obtain their depreciation reports from a list of qualified professions, including:

✅ engineers
✅ certified reserve planners
✅architects
✅appraisers
✅ Applied science technologists
✅ qualified surveyors

Goal of depreciation reports
Depreciation reports enable strata corporation to estimate long-term repair and replacement costs of shared property and assets, giving strata owners the ability to contribute to contingency reserve funds as required.

Previously, depreciation reports could be repeatedly deferred if three-quarters of a strata corporation’s owners voted annually in favour of a deferral.

05/25/2024

I am thrilled for my buyers to secure this amazing condo in the heart of ambleside!
Concrete building, westerly ocean views, walk to seawall and so many amenities.

✅1 bed
✅1 bath
✅ Almost 900 sq/ft

Listed $849,000

05/16/2024

Inventory at highest levels since pandemic summer 2020 👇

Actively listed homes for sale on the MLS® in Metro Vancouver continued climbing in April, up 42 per cent year-over-year, breaching the 12,000 mark, a number not seen in the region since the summer of 2020.

Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 2,831 in April 2024, a 3.3 per cent increase from the 2,741 sales recorded in April 2023. This was 12.2 per cent below the 10-year seasonal average (3,223).

“It’s a feat to see inventory finally climb above 12,000. Many were predicting higher inventory levels would materialize quickly when the Bank of Canada began its aggressive rate hikes, but we’re only seeing a steady climb in inventory in the more recent data,” Andrew Lis, GVR’s director of economics and data analytics said. “The surprise for many market watchers has been the continued strength of demand along with the fact few homeowners have been forced to sell in the face of the highest borrowing costs experienced in over a decade.”

Across all detached, attached and apartment property types, the sales-to-active listings ratio for April 2024 is 23.5 per cent. By property type, the ratio is 17.6 per cent for detached homes, 31.0 per cent for attached, and 26.0 per cent for apartments. Analysis of the historical data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

“Another surprising story in the April data is the fact prices continue climbing across most segments with recent increases typically in the range of one to two per cent month-over-month,” Lis said. “The one segment that didn’t see an uptick in prices in April were apartments, which saw a 0.1 per cent decline month-over-month. This moderation is likely due to a confluence of factors impacting this more affordability sensitive segment of the market, particularly the impact of higher mortgage rates and the recent boost to inventory levels, tempering competition somewhat.”

04/29/2024

😯 Check out this view from my open house today!!!

1-2272 Folkestone Way, West Vancouver

Stunning reno in this unique townhome with double garage, massive deck, and forever views 😍
$3,379,00
Listed by

04/25/2024

🔥Hot price for Vancouver's Gastown

✅990 sq feet
✅2 bed plus huge den
✅Corner unit
✅parking inc
✅Insuite laundry
✅bike lockers
✅Storage locker

$719,000
Only $726 per square foot!!

Parking included but if you don't need a car you can easily rent it out for over $100 per month. Steps to trendy Gastown and waterfront. Spacious corner unit with a breezway outdoor entrance, and large den plus pantry in kitchen. Gym in the building and a great community of cyclists and dogs 🦮🚴

07/18/2023

Check out these summer concerts at the Shipyards in ! City of North Vancouver

07/17/2023

The Bank of Canada raised rates another 25 basis points, but due historically low supply levels, experts say not to expect a drop in housing prices

Two straight interest rate hikes from the Bank of Canada are expected to cool the national housing market but experts say not to expect price drops.