July 15, 2013

New record set for boutique luxury home sales in Coquitlam

Burnaby, BC, – Last weekend Wallmark Homes opened the doors to sales for its upscale new Carte Blanche development on Kingston Street on Burke Mountain in Coquitlam.

The 16 French-country inspired homes are just 3,928 square feet, but from their distinctive roof lines and well thought-out floor plans to their tastefully elegant custom-built interiors, the homes exude the feel of boutique, luxury mansions. This may account for their astounding popularity. Fully half the homes sold within 48-hours, at prices from $930,000 to $970,000 (plus HST).

“This certainly exceeded our expectations,” said Brad Cowden, Manager of sales and marketing.

“We knew there would be interest, but we were surprised when more than 300 groups toured our display home in just two days. Many home buyers told us they were specifically looking for boutique luxury homes instead of larger estates. We’d been told this before when we built and sold-out nearby Birchwood Estates and we listened.”

Maybe it’s the idea that smaller is often greener, and in the case of Carte Blanche, this is certainly true.

The warm, welcoming homes with their old-world appeal have been built with energy-efficient bells and whistles including non-toxic materials, appliances and even an energy-efficient outdoor stone fireplace . Even more, the homes are carefully sited on properties ranging from 5,442 to 15,285 square feet, alongside a protected greenbelt.

Who is buying these small luxury homes?

“They’re mostly local buyers from the Tri-Cities areas, dual-income couples who have been sitting on the fence, waiting to move up,” explains Cowden, who chalks it all up to three driving forces.

“First, there has been pent-up demand from home buyers looking for this type of home and they’re prepared to invest in it. Second, move-up buyers have seen substantial equity gains in the last decade, and together with near-record low mortgage rates, are able to move-up. Third, buyers who may have waited out the recession, are now seeing employment growth and have confidence in our economy, and they’re investing in quality custom-built homes.”

What about all the reports we’ve been reading which predict an imminent doomed housing market which could include everything from a serious downturn to a full-blown bubble burst?

“The unprecedented sales activity we’re seeing seems to indicate that astute BC home buyers continue to think that real estate is a solid investment,” says Cowden

Project Specifics

Carte Blanche by Wallmark is located at 1321 Kingston Street, on Burke Mountain in Coquitlam.

Homes have attached two car garages. The price doesn’t include finished basements, back yard landscaping or appliances. Each home can be fully customized.

For more than 21 years, Wallmark Homes has been building quality new custom-built homes throughout the Greater Vancouver and Fraser Valley areas. For information visit: www.walkmark.ca or www.carteblanchehomes.ca.

For information contact:

Brad Cowden, Manager of Sales and Marketing

Office: 604-420-5200 ext. 215; Cell: 604-803-9273

Email: BradC@wallmark.ca