ARE YOU ON THE V LIST ? - Virani Real Estate Advisors

Virani Real Estate AdvisorsThe Village at Park RoyalJ4–925 Main StreetWest Vancouver, BC V7T 2Z3604.913.1888Karim ViraniPresidentHaneef ViraniVice-PresidentFrank KearneyRealtor / Managing BrokerDiana BrownRealtorMonica ViraniRealtorKevin LynchRealtorSarfraz ViraniRealtorChris HarburnRealtorArun MasandOffice ManagerGwen WebsterClient Care OfficerKARIM’SWELCOME“Are we there yet” as many of you will recall you heard this question asked from the back seat of yourcar as you drove the family on holidays, well today I am hearing the same question as it relates to thecurrent level of Real Estate Sales – meaning is the market at the top yet? In my opinion the answeris, “no, it is not,” but there are some signs in some market areas that sales are slowing down and therate of price increase is not as hectic as it has been over the last year or so. The Real Estate Board hasreported that strong consumer demand continues to be the key characteristic of the August housingmarket, with high sales and listings being posted throughout the Greater Vancouver area. CameronMuir, a market analyst with CMHC, states that it is still a sellers market and that we won’t see a changeuntil we we see more listings. To sum up there is still a lot of demand and homes that are pricedcorrectly sell quickly. We are not seeing the frenzy we saw last year which is good news for buyers.If you would like to see your home listed in this publication or for a no-obligation market evaluation,contact me at 604.913.1888. You are also welcome to stop by our offices in the Village at Park Royaland discuss your Real Estate Needs.Karim ViraniMargot BatesClient Care OfficerCharmaine von PosselAccounts / ConveyanceThis communication is not intended to cause orinduce breach of existing agency agreements.©2006 Virani Real Estate Advisors“We make a living by what we get; we make a life bywhat we give.”-Sir Winston ChurchillVirani Real Estate Advisors | 604. 913.1888 | www.thevlist.com1

WEST VANCOUVERWest Vancouver Market CommentThe median sale price for a detached home in West Vancouver,January to August 2006 is now at a new high of $1,270,000 andis still the highest in the Greater Vancouver area. The number oflistings of detached homes for the same period has increased from784 in 2005 to 854 in 2006 with 104 detached homes currentlylisted for sale. The Real Estate Board reports that August 2006 wasthe fourth consecutive month where listings have increased andthis is good news for prospective buyers. The price increases inWest Vancouver which we have seen year to date may be difficult tosustain and we may expect a slowing down of this rate of increasefor the balance of the year, but the value in West Vancouver RealEstate will continue to increase.$4,500,0001598 Chippendale RoadSpectacular panoramic views of the city and water can be seen from this 9,800sq/ft, 7 bedroom, 7 ½ bath custom mansion. Highlights include, 12 zone radiantheating, home theatre room, seperate hot tub room, all ensuited bedroomsand a newly built 2 bedroom in-law accommodation.$3,488,000$3,299,0002639 Finch HillEnjoy gorgeous panoramic views from Mt. Baker to Vancouver Island from thisexceptional 7,000 square foot mansion perched high on the hill in CanterburyEstates. This luxurious custom built home offers an open floor plan, a designerkitchen, 5 bedrooms all with ensuites, an outdoor pool and much more.1068 Eyremount DriveThis ambassadorial Italianate villa and the surrounding grounds are built in thegrand style of pre-war Europe and finished with only the best imported limestoneand plaster speaking to the home’s wordly sophistication.$3,188,000$3,188,000680 King Georges WaySpectacular 180 degree views from this grand 6,000 plus square foot, brandnew award winning home finished to very high standards and boasts Braziliancherry hardwood floors, featuring Miele and Viking Appliances, extensivecrown moulding, marble and limestone fireplaces and over 1,800 sqft of deckspace.PH 1166 Melville StreetWrap around 360 degree views from this amazing Penthouse Suite in OrcaPlace. This 2 level over 5,000 square foot suite occupies the top two floors of thebuilding with direct access from elevators right into the luxuriously appointedsuite. Great Coal Harbour location close to Cardero’s, Marina and Downtownshopping.2Virani Real Estate Advisors | | 604. 913.1888 | | www.thevlist.com

$2,995,000$2,880,0002490 Westhill CourtLovely views to Downtown Vancouver and the water from this extensivelyrenovated 8,000 plus square foot quiet home. Designed for entertaining withspacious open rooms and dramatic ceilings, gorgeous outdoor pool and hottub area, huge decks and patios. Extensive marble tiling, top end appliances,radiant in floor heat and separate in-law accommodation1128 Crestline RoadStunning panoramic views from this custom built one owner, 6 bedroomand den home. Designed with exquisite detailing throughout all 3 levels onapproximately 6,300 sqft. Radiant in floor heat, kitchen with Sub Zero/Mieleappliances, air conditioning, level heated driveway, 3 car garage, hot tub,steam and dry sauna, and outdoor patio and backyard.$2,699,000SOLD$2,599,0001482 Chippendale RoadGlorious custom built 5,100 square foot home with panoramic city and waterviews offering a deluxe gourmet kitchen with top of the line appliances and anopen floor plan, elegant living and dining rooms and a cozy family room off thekitchen, air conditioning, level backyard and three-car garage.6051 Gleneagles Drive6 bedroom semi-waterfront family home on 0.46 acres and over 5700 sqft ofelegant living. Sensational private patios and gardens with level play areas andmagnificent ocean views. Gourmet kitchen, grand foyer, master bedroom suitewith private terrace, large library, 3 fireplaces and mahogany hardwood andSpanish terracotta.$2,580,000$2,288,0002511 Palmerston AvenueGorgeous city and water views from this like new, 6 bedroom, 6,700 sq/ft, 3level home in Upper Dundarave. Architecturally designed with vaulted ceilingsand a large open floorplan with inner courtyard. Well finished throughout withcustom millwork, hardwood floors and luxurious bathrooms.4215 Evergreen AvenueSemi-waterfront, architecturally designed, 6,000 square foot home with 6 bedroomsand office and 5.5 bathrooms located on a prestigious cul-de-sac. Thisluxury home boasts dramatic vaulted ceilings, skylights, private decks and aconventional floor plan with a large, bright 2 bedroom in-law accommodation.Virani Real Estate Advisors | 604. 913.1888 | www.thevlist.com 3

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$ 2,288,000$2,149,0002565 Westhill WayGorgeous, panoramic close-in views from Mount Baker to Spanish Banks. This6 bedroom, 8 bathroom home with views of Vancouver, includes a grand entryfoyer, oak hardwood floors, high ceilings, skylights and 3 car garage. Greatoutdoor entertainment deck off main living area with pool, hot tub and terrificviews.1153 Eyremount DriveA graciously renovated 8 bedroom, 5 bathroom home on an acre lot in BritishProperties, updated kitchen featuring Sub-Zero and Dacor, hardwood floors,marble fireplace and French doors that open from the living room to a glassrailing sundeck to enjoy panoramic views of the City and harbour.$1,549,000$1,499,0002530 Lawson AvenueImmaculately kept 10 year old, 6 bedroom, 2 den home. Features include aninviting open entry, solid maple hardwood floors, granite kitchen counters,solid wood cabinetry, 4 bedrooms up ( 2 ensuites ), and a fantastic 2 bedroomin-law accommodation on the lower level. Almost 4,400 square feet on 3 levelsset on a south facing 64 x 132 lot.1361 Inglewood AvenueCustom built, one owner, 4 bedroom home in prime Central Amblesidelocation. This well built home offers a wonderful open floor plan with mainfloor opening out to a large patio and fully fenced backyard. Features maplehardwood floors, wood windows, 9 foot ceilings, water views from upper floorand huge crawl space.$ 1,475,000$1,469,000855 Cross Creek RoadEstate sized Lot. Build your Dream home on this 26000 sq/ft lot with cityviews. This home currently has access from Crosscreek and Pyreford road, nearHollyburn Country Club and Schools. An opportunity to hold or build in thisfabulous British Properties location.909 Wildwood LaneVery special 5 bedroom, 4,200 square foot gated estate located in Lower BritishProperties. This private and sun-filled property set on approximately half anacre is surrounded by sprawling lawns and the interior features vaulted ceilings,refinished hardwood floors, gourmet stainless and granite kitchen.Virani Real Estate Advisors | 604. 913.1888 | www.thevlist.com 5

THE VERTEX2597 Marine Drive, West VancouverAN AMAZING HOMESpectacular architecturally designed view home has 24’ glass ceiling in dining and entry, four bedrooms, five bathrooms, as well asfabulous theatre/media room, billiard room and built-in indoor/outdoor sound system. 10’ full height sliding glass doors in kitchen andliving room open onto a large private deck area with in-ground oversize pool and jacuzzi.$2,888,0006Virani Real Estate Advisors | 604. 913.1888 | www.thevlist.com

Virani Real Estate Advisors | 604. 913.1888 | www.thevlist.com 7

$1,465,000$1,429,0006029 Gleneagles CloseSpacious 5/6 bedroom, 3 level 9 year old home in this exclusive, quiet semiwaterfrontlocation. Spanish themed main floor, 4/5 bedrooms on the upperlevel and a lower level 1 bedroom in-law accommodation. The property offerslush landscaping and is located nearby Gleneagles Rec Centre and Golf Course,Schools and is only a short drive to shopping.780 Greenwood RoadUpdated 5 bedroom family home set on a huge .48 acre lot in this quiet BritishPoperties location. Numerous upgrades including flooring, windows, exteriorpaint, stamped concrete patios, decking, retaining walls and landscaping.Other features include heated driveway, security system, large workshop and agrassy fenced backyard.$1,399,000$1,250,000941 Eyremount DriveBuild your dream estate on this gorgeous gently sloping 31,753 sq/ft lot withlevel driveway on Eyremount Drive in Prestigious British Properties. City viewsto the south and south/east with great potential for fabulous views. Currenthouse is approxiamatley 3,000 sq/ft which is great as an investment or holdingproperty.2560 Westhill CloseFabulous 6 bedroom, 6 1/2 bath family home in a private Westhill subdivision.Grand double height skylit foyer opens to large living room. 9’ ceilings, crownmouldings, radiant heat and four ensuited bedrooms make an elegant familyhome. Bareland strata which shares outdoor pool and playground.$1,248,000$1,199,000655 Andover PlacePanoramic, unobstructed views from this 4 bedroom, 3 bath home situated atthe end of a quiet cul-de-sac. This home offers tremendous potential and sitson a 16, 574 square foot lot with 122 feet of frontage. Other features includehardwood floors, large floor to ceiling windows, tennis court and tremendousprivacy.2082 Westdean CrescentGreat potential here with this 4 bedroom 3200 square foot home, set on a huge0.47 acre lot. This home awaits your renovation ideas or is suitable to buildyour dream estate on this very level lot. Great opportunity in this quiet centrallocation.8Virani Real Estate Advisors | 604. 913.1888 | www.thevlist.com

MARKET WATCHAugust housing market third strongest on recordVancouver, B.C. Sept 5, 2006 - Strong consumer demand continues to be the key characteristic of the August housing market, with high salesand listings being posted throughout the Greater Vancouver area.The Real Estate Board of Greater Vancouver (REBGV) reports that total residential sales for detached, attached and apartment propertiesreached 2,998 units in August 2006, a decrease of 17.8 per cent when compared to the 3,649 units sold in August 2005 and an increase of20.5 per cent when compared to the 2,487 units sold in August 2004.“Although the summer months are typically a slow period forour market, the August residential housing market was the thirdstrongest on record,” says REBGV president Rick Valouche. “Wearen’t seeing signs of a significant housing market slow downanytime soon.“MLS® records also indicate that August was the fourth consecutivemonth where listings activity has increased in the Greater Vancouverarea, particularly with attached and apartment properties,” notesValouche. “Increased listing activity combined with high salesvolume is good news for both buyers and sellers. To get a betterunderstanding of what’s happening in your local market, consultyour REALTOR®.”According to Multiple Listings Service® (MLS®) data, sales of apartment properties decreased by 12.7 per cent to 1,295 sales in August 2006compared to 1,484 sales in August 2005. The benchmark price of an apartment property in Greater Vancouver, calculated by the MLSLink®Housing Price Index, is $331,519, up 22.1 per cent from one year ago.Sales of attached properties decreased by 10.8 per cent in August 2006 to 536 sales, compared to 601 sales in August 2005. The benchmarkprice of an attached unit is $406,676, up 20 per cent from a year ago.Sales of detached properties decreased by 25.4 per cent in August 2006 to 1,167 sales, compared to 1,564 sales in August 2006. The benchmarkprice of a detached unit is $653,616, up 19.1 per cent from last year.The Real Estate industry is a key economic driver in British Columbia. In 2004, dollar volumesales of homes in Greater Vancouver set a new record at more than $13.8 billion. Based onthis figure, Greater Vancouver home sales in 2004 generated over $1 billion in related sales.Virani Real Estate Advisors | 604. 913.1888 | www.thevlist.com9

$1,199,000$1,168,0001065 Wildwood LaneGreat views from Kitsilano to Metrotown from this totally renovated 4 bedroomhome, on a large 16,500 sqft lot. New hardwood and slate flooring, crownmouldings, granite and stainless kitchen, new bathrooms, double glazedwindows and a 1 year old roof. Open floor plan on main level, wrap aroundpatio and a 1 bedroom in-law lower level accommodation.1025 Elveden RowLocated across from Elveden Lake, this 5 bedroom, 3.5 bathroom traditionalhome is located on a huge 19,000 square foot terraced lot with 2 spaciousfloors of living space, formal living and dining areas, 4 large bedrooms, a lushgarden with a barbeque area and patio decks with great views to Downtown.$1,138,000$ 945,0005325 Westhaven WyndBright and spacious 3 bedroom and den, 3 level contemporary home locatedon a quiet child-safe cul-de-sac. Features include a lovely vaulted entry withskylight, large kitchen and family room area, California shutters, huge mastersuite with big ensuite, rec room on lower level, double garage and easy carelot.821 Taylorwood PlaceBright, airy, 2 storey, 4 bedroom home in quiet Taylorwood cul-de-sac. Vaultedceilings, beautiful foyer and updated, stainless steel kitchen. Private manicuredbackyard and common outdoor pool and tennis court. Great Value in thisconvenient West Vancouver location.$869,900$ 749,900SOLD75 Laurie CrescentA lovely 2-level, 4 bedroom “Post and Beam” home on a substantial 0.31 acrelot. Bring your renovation ideas as this home offers great potential with anopen floor plan and the possibility of further expansion. A nice quiet locationnestled amongst nature within walking distance of Collingwood School.1263 3 rd StreetImmaculate 4 bedroom, 3.5 bath end unit town home features main floormaster suite, vaulted living, dining area and family room off kitchen with slidersto south facing patio. Upper floor has 3 more bedrooms (2 ensuite) and anopen study area. Air-conditioning, double car garage and close proximity topark and schools.10Virani Real Estate Advisors | 604. 913.1888 | www.thevlist.com

NORTH VANCOUVER$1,649,00North Vancouver Market CommentThe Real Estate market in North Vancouver for the month of August2006 continued on its steady pace with increased prices monthover month from 2005. Usually the summer months are a quietersales period but August 2006 was the third strongest on record inGreater Vancouver according to the Real Estate Board. The medianselling price for detached homes in North Vancouver January toAugust 2006 is now at $733,105, attached homes at $479,688 andapartments at $322,092 respectively. Any slowing down in sales forthe balance of the year may be caused by affordability as first timebuyers and buyers with low down payments may have difficultyentering the market, but North Vancouver, so close to downtownVancouver continues to be a great place to invest in real estate.355 East 11th StreetWelcome to the Queen of the Boulevard – a distinguished custom builtresidence. Some special features include rich hardwood floors, Venetianplastered walls, gourmet granite and stainless kitchen, wine cellar and anelaborate backyard with waterfall and outdoor dining area. This unassumingresidence is a pleasure to show.$1,468,000$1,199,0003420 Anne MacDonald WayNew luxurious ‘Noort’ residence exquisitely built with top quality craftsmanstylefinishing. Spacious open living room, dining room combination featuringvaulted ceilings, a beautiful stone fireplace mantle, wet bar, family and mediarooms, a main floor office, and stately French doors open to spacious decking.2215 Riverside DriveBreathtaking mountain, riverside home with a rustic flavor, created forentertaining. You will love the open concept with its high quality updatedkitchen. This home is just steps to hiking, walking, biking and your very ownriver front hot spot. You can also enjoy your swimming pool and large deck.You have never seen a view like this.$1,189,000$998,000268 Montroyal BoulevardCustom built, 6 bedroom, executive home in prime Upper Delbrook locationoffering over 4,900 sq/ft on 3 spacious levels. This immaculate home offersa large open plan kitchen and family room, fully finished basement, outdoorpatio area, double garage and south facing views to city. A tremendous valuein this terrific neighbourhood.2990 Dresden WayLocated on one of the most desirable cul-de-sac’s in Blueridge, this 5 bedroom,3 bath, home has been incredibly well kept and updated throughout. Featuresinclude an open kitchen, vaulted ceilings, new floors, granite counters, andstainless appliances. This home also features a peaceful back yard with brickpatio’s and a private deck off of the master.Virani Real Estate Advisors | 604. 913.1888 | www.thevlist.com 11

$789,000$788,0001501-155 West 1st StreetAstounding 270-degree view of the mountains, inlet and city. This exquisiteluxury sub-penthouse has two bedrooms and den, 2 full bathrooms, largepatios and top of the line finishings, stainless steel appliances and granitecountertops with breathtaking views from every angle. Living at its best.2555 Byron RoadUpper Blueridge home. This south-facing lot presents beautiful curb appealand rare access to a much desired neighborhood. This updated home offersan open kitchen with stainless appliances, granite island, hardwood floors,peaceful rear facing patio, downstairs rec-room and a renovated, large in-lawaccommodation.$554,900$479,000SOLD1357 Fernwood CrescentExciting. Affordable. Starter or Reno project. This is hot and won’t last. It’s acute little house on a prime Norgate street and location, backing parkland andjust two blocks to school. It’s got an extra large backyard with a larger thanaverage lot. You’re on a quiet street perfect for families.6-1233 West 16th StreetRarely available corner unit townhouse located on a quiet, communityorientedcul-de-sac in Norgate. Minutes to Lonsdale Quay and downtown,access to shopping, recreational amenities, restaurants, coffee shops andschool. Well laid out large main floor living and dining room, relax on either ofyour two balconies or enjoy the sun on your backyard patio.$294,000$249,00038-1825 Purcell WayUpdated condo with hardwood floors, lovely kitchen and much more. This large2 bedroom and den condo shows like a dream. Gorgeous, peaceful greenbeltoutlook, spacious open rooms and wonderful design. Priced for immediateaction. Great tenants would like to stay. Investors and first timers welcome.115-140 East 4th StreetRenovated 1 bedroom ground level suite with your own courtyard entrance.Features include open floor plan, large master bedroom, new hardwoodlaminate floors, private garden patio, in-suite storage and close proximity toSeabus and all other Lonsdale amenities. Great value.12Virani Real Estate Advisors | 604. 913.1888 | www.thevlist.com