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Vancouver Urban Condos Holding up Better than PDX
Take a look at condos on the South Waterfront or the Pearl District and you will find that prices have really softened up. Vancouver’s urban Condo market has softened a bit as well, but the Pearl used to fetch 30+ percent more than Vancouver’s Downtown and now they are a little less expensive than we are. This is especially true in the entry level condo market where a large selection of those…
Is Seattle's Mayor Helping us or Hurting us down here in Vancouver?
Seattle’s new mayor has been making waves in the Emerald City with her actions and comments regarding business and wealthy people. She inherited a messed up system and seems content to make it even worse. Seattle suffers from the worst office vacancy rate in the Western US. Nearly 40% of those gleaming skyscrapers downtown are vacant. Seattle had the strongest per-capita GDP of any major city in…
Fire Season Could be Bad this Year
Although the rain gauge is above average for the water year so far, the Cascade Snowpack is running about half of normal. We rely on that snowpack for the snowmelt that keeps most of the summer green. Without it we tend to dry out like California and suffer from a similar fate as they do every year. If we start drying out in June, it could be a long smoky summer in the Couv. You may recall just…
Qualifying for a Condo Purchase is Different
A typical real estate transaction involves a buyer using a mortgage loan to purchase a home. The buyer gives the lender a series of documents proving income and showing debts, to determine what amount the lender is willing to lend them. The buyer then uses that as a baseline to search for homes. Let’s say a lender is willing to lend $500,000 to a buyer and the buyer is required to put down 3.5%…
Clinically Perfect or Classically Flawed?
Throughout the history of optical design we have been chasing perfection. Centuries ago designs were based on optical theory with no computers to aid in design, no modeling in advance of production, none of that. By the 19th Century we at least had a test medium in the form of film. This no doubt helped push design implementation into a much faster production window. By the time the 20th Century…
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Did Anyone Look at Using UP and BNSF tracks from Downtown Vancouver to Union Station?
I never heard anyone in the IBR circles suggest a regional train like the Seattle Sounder. All the track needed is already rated for passenger service as Amtrak runs the Cascades, Coast Starliner, and Empire Builder trains on the tracks. This option could skip the MAX Yellow line at the EXPO altogether and run the trains to Downtown Portland at the Union Station near Chinatown. The big upside to…
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Some Experts Suggest Light Rail May Be Delayed
The IBR project has cost estimates that have soared well above eleven figures. That is some serious cash with the current estimated range of $11.5 to $13.5 Billion, yes Billion with a B. Take a moment to imagine one million dollars. A measly one million with a M. That is a stack of $100 bills nearly 4 feet tall. It will however fit conveniently and neatly into a typical briefcase. Think of the…
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Weekly Downtown Videos Now on YouTube
Episode 9 I have been publishing weekly video reports on activity in Downtown Vancouver mostly surrounding condos. These short videos tend to run about 90 seconds or so showing off condos and other cool facts about Downtown Vancouver. Be sure to subscribe to the YouTube channel so you don’t miss these weekly updates. I also have a very comprehensive review of all the condominium developments in…
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Would You Pay $45,000 for a Parking Space?
How much would you pay for a parking space? Would you pay $45,000? Last week I was discussing this very topic with a local developer that builds mid-rise apartments and condominium towers. Let’s see if we can find out the value of a residential parking space in an urban area like Downtown Vancouver. There are literally professional commercial appraisers that have to figure this type of valuation…
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Interstate Boondoggle
Vancouver USA and the Rose City are fully engulfed in one of the biggest boondoggles in highway history. If you haven’t figured it out yet, I am referring to the Interstate Bridge Replacement. To be very clear, I am not against the replacement of that bridge, in fact the opposite is true. The northbound span was erected in 1917. That was World War One! Not WWII, World War 1. The span is 109…
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Interest rates softening up, Will it boost Condo Demand?
Interest rates have been coming down a bit so far this year. We have not only seen some easing from the fed, but the low transaction count maybe part of the equation as well. Recent news reports have shown that the national transaction rate hit a 31 year low. This is based on the volume of transactions rather than the volume in dollars. Most agents will agree that the transactions have been fewer…
Urban Condos in Vancouver Picking Up Steam
New pending sales and closed transactions across a large price range from under $300k to well over $1 million kept local agents and title companies busy last week. These pending and closed properties far outweighed the new listings. Thats good news for the condo market in the city center. Now that spring is underway, Downtown and the Waterfront will start seeing those fair weather crowds and…
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Vancouver eliminating SFR Zoning. Is this a bad idea?
Vancouver has effectively eliminated the SFR (Single Family Residence) zoning under the audacious claims that the city cannot meet housing demands otherwise. This is dubious at best. Demand for housing in Vancouver is at least in part due to its excellent traditional neighborhoods across a wide range of pricing from entry-level to the millionaire class. The city is not wrong that more…
Clark County More Expensive Than Multnomah
Is Clark County Actually Expensive on Housing?
This is a bit controversial because “expensive” is a very subjective and relative term. What is expensive? When we look at the national average median home price we find that it is currently at just about $400,000. Clark County has a median home price of just about $550,000 so we are 38% above the national average. But expensive is relative to income among other things. The national median…
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Vancouver is still dominating the region :)
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Five Great Vintage 35mm Camera Bodies for Your Money
So many people are out buying classic 1970s-80s 35mm SLR cameras. This period was truly the golden age of 35mm SLRs. During the 70s the SLR went from serious photographers only to mainstream image maker. Nikon, Canon, Minolta, Pentax, Olympus, Ricoh, Mamiya, and a few others were all marketing cameras to the masses. Canon and Minolta lead the consumer sales numbers and sponsored events like…
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