I have listed a new property at 410 333 WETHERSFIELD DR in Vancouver.
Your oasis in the city! This 2 bedroom, 2 bath separate entrance unit at Langara Court has it all. Meticulously cared for and updated featuring fully renovated kitchen and bathrooms and a large open living space with beautiful stone lined fireplace. Souring vaulted ceilings with skylights provide an abundance of natural light. Your large private patio faces the peaceful forested courtyard. Amenities include landscaped grounds, an indoor pool, sauna and lounge. 1 large, secured underground parking stall and 1 storage locker all in a very well run building. Walk to Langara golf course, college, Oakridge mall and Canada Line Skytrain. The perfect location for the perfect home. 19+. See Realtor website for virtual tour. OPEN: Thu, Apr 6 10am-12pm; Sat, Apr 8 2pm-3:30pm, Sun, Apr 9 12pm-1:30pm.
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I have sold a property at 101 1640 11TH AVE W in Vancouver.
Central Fairview location in a rock solid building. This beautifully renovated, ground level unit has it all - 805 sqft, 1 bedroom + den/2nd bedroom (no window), North facing, sunken living room, gas fireplace and large private patio. The kitchen has been totally remodelled, featuring gorgeous stone backsplash and marble countertops. The huge master bdrm has a generous walk-thru closet into the updated bath and Euro washer/dryer combo. A perfect place to call home, in the heart of the city. See Realtor's website for virtual tour.
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I have sold a property at 202 2828 MAIN ST in Vancouver.
Amazing opportunity to live in this sprawling 1 bedroom and giant flex space with insuite storage and laundry, walk through master bedroom closet and cheater ensuite bathroom. DOMAIN is centrally located along one of Vancouver's hippest streets with coffee shops, restaurants, antique stores and entertainment right outside. Inside the unit the modern and sustainable cork floors are complimented by over height ceilings, floor to ceiling cabinets and a stainless steel appliance package. Get inspired by this high quality Holborn built condo with the remaining warranty.
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I have listed a new property at 1162 BEECHWOOD CRES in North Vancouver.
Welcome to this family home situated in one of the best locations in North Van; the beautiful Norgate Community. Sitting on a flat 65 x 100 CORNER lot, this 1300 sq ft single level home, with 200 sq ft garage, has a lovely outlook to the greenbelt of the Spirit Trail. Inside enjoy 3 bedrooms, a spacious open kitchen with stainless steel appliances and both a family and living room. Walk out to your private, fully fenced backyard with stunning North Shore mountain views. Situated a short walk to the local school, transit, shopping, great parks, daycares, trails and bike paths. OPEN: Tues. Mar. 21 10am -12pm Sat/Sun March 25/26, 2:00-3:30pm
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I have listed a new property at 311 2020 8TH AVE W in Vancouver.
Here is your chance to live in Kits! This comfortable, 1 bedroom unit features gas fireplaces, in-suite storage, and south facing covered patio, engineered flooring, SS appliances, walk in closet, in-suite laundry, and full bathroom renovation. AND it is situated in a friendly, well maintained building. The walk score is an amazing 98, so most days you will be able to leave your car in the parking spot that comes with the unit. Have a pet? Not a problem; building is pet friendly! Rentals are allowed with restrictions. Visit open house Thursday 5:30-6:30, Saturday and Sunday 2-4pm.
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I have listed a new property at 101 1640 11TH AVE W in Vancouver.
Central Fairview location in a rock solid building. This beautifully renovated, ground level unit has it all - 805 sqft, 1 bedroom + den/2nd bedroom (no window), North facing, sunken living room, gas fireplace and large private patio. The kitchen has been totally remodelled, featuring gorgeous stone backsplash and marble countertops. The huge master bdrm has a generous walk-thru closet into the updated bath and Euro washer/dryer combo. A perfect place to call home, in the heart of the city. OPEN: Sat/Sun Mar 18/19 from 2:00pm-3:00pm
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I have sold a property at 40 1240 FALCON DR in Coquitlam.
WOW! END UNIT WITH OPEN YARD & CONCRETE W/ NEW WOODEN DECK UNOBSTRUCTED BY ANY OTHER BUILDINGS JUST WARMED BY THE SUN & PRIVACY FROM TREES & MOUNTAIN VIEWS! Don't Let the Age Fool You! This unit has been completely updated with Quartz Kitchen Counters, New Fridge, Microwave & Dishwasher in past 2-3 years. 2 year old HW Tank, New Laminate Floors, New Baseboard Heaters & Thermostats, New Lighting Throughout; Even the Fireplace Insert & Surround Were Replaced 3 years ago! Roof was Replaced in 2010, Exterior Painted in 2016 & Glass Slider is Paid for to be done 2017! Work out from home - Universal Gym in Utility Room is Negotiable! RARE OPPORTUNITY FOR AN AFFORDABLE TOWNHOME IN COQUITLAM THAT'S MOMENTS FROM SHOPPING & MOVE IN READY!
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I have listed a new property at 202 2828 MAIN ST in Vancouver.
Amazing opportunity to live in this sprawling 1 bedroom and giant flex space with insuite storage and laundry, walk through master bedroom closet and cheater ensuite bathroom. DOMAIN is centrally located a long one of Vancouver's hippest streets with coffee shops, restaurants, antique stores and entertainment right outside. Inside the unit the modern and sustainable cork floors are complimented by over height ceilings, floor to ceiling cabinets and a stainless steel appliance package. Get inspired by this high quality Holborn built condo with the remaining warranty. OPEN: Sat/ Sun Mar 11/12, 2:00 - 4:00
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Low Supply and Snow Limit Vancouver-area Home Sales in February – Vancouver Sun


Scotiabank CEO Concerned About Correction in Vancouver, Toronto Housing Market –Global News

 

Imagine reading those headlines and then having us tell you that you’re going to be competing against 5 other buyers for the home that you want to live in.  That is exactly what happened for three of our buyers in the past week.  Which begs the question – why is the media reporting the “end of the Vancouver Real estate bubble”? And, more importantly, what is actually happening in the market?

 

We’ll start with the usual stats - the numbers shown are a ratio of the number of active listings (at end of month) over the number of sales in that month.  Numbers above a 7 are considered Buyers’ markets, below a 5 are Sellers’ and in-between are considered balanced.  Beside the number, I’ve indicated the direction the market moved when compared to the previous month.

 

Months Supply

Van West

Van East

North Van

Richmond

Burnaby

New West

Detached

6.1

Down

7.9

Down

2.6

Down

7.2

Down

8.2

Down

9.1

Up

Attached

3.0

Down

3.7

Down

1.2

Down

2.9

Down

3.6

Down

2.3

Down

Condo

1.8

Down

1.7

Down

1.3

Down

1.7

Down

2.0

Down

1.4

Down

 

It’s certainly true to say that some segments of our market are slow (even incredibly slow in some cases), but the vast majority of homes in the Vancouver area are in fact experiencing Sellers’ market conditions.  Statistically, the only “line” we can really draw would be loosely defined as the “luxury market”.  That is, homes at the top end of whatever segment we’re looking at (Eastside detached homes over $2.0Million, Westside detached over $3.5Million, New West homes over $1.0Million).  In virtually all cases, homes in the “luxury” segment have experienced a dramatic slowdown and a steady (if not steep) decline on pricing since Summer 2016.  The unwritten story (at least, uncovered by the media) is that the rest of the market is actually incredibly strong with multiple offers and price increases being the norm in those “affordable” segments.  For instance, just last week, we saw an east side house priced at $1,338,000 sell with 11 offers for $1,650,888.  Or, the week before a 1 bedroom condo in Fairview priced at $530,000 sell with 4 offers for $590,000. 

 

Other than the segmented market, the other interesting observation to note has been the complete lack of inventory in virtually all areas of the market.  While sales volume remains lower than the last two years, a comparison of sales volumes for February show that February was a strong month when compared against 2012, 2013 or 2014.  However, Buyers are simply not seeing the kind of variety/choice that we typically experience in this season.  If you ignore last year’s Spring, the current inventory is running at approximately ½ of what we saw in February of 2012, 2013, 2014 or 2015.  Obviously, when the supply side of a market equation isn’t sufficient, the market pressure will cause an increase in pricing – and that’s certainly what we’re seeing in markets outside of the “luxury” end of the market.

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I have sold a property at 2206 6188 PATTERSON AVE in Burnaby.
Luxurious Wimbledon Club. Huge corner unit with gorgeous South Eastern Views of the North Shore Mountains. Immaculately maintained concrete hi-rise building boasting amenities such as pool, spa, exercise room, extensively renovated entertainment room and 2 guest suites are great when guests wish to visit. Extra large unit with nearly 9 foot ceilings, gas fireplace, balcony, large master with 2 closets, ensuite with separate tub & shower & full sized living room. Recent renovations, including laminate flooring, paint, baseboards and fixtures, make this condo a delight for all. Pride of ownership at the Wimbledon is obvious, as they have created one of the most well maintained and sought after buildings in the area. Nearby parks include Central Park, Maywood and Old Orchard. This location is very walkable so getting to restaurants, grocery stores and entertainment can be accomplished by foot and the building is only a four minute walk from the Patterson Skytrain station. O/H Cancelled. Please call to view
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I have listed a new property at 2239 TRAFALGAR ST in Vancouver.
Explore your options with this 2324 sq. ft. home with 3 easily separated suites: garden, main and upper. Owner occupied for 46 years. Mechanically updated with newer roof (2011), exterior paint (2012), gas furnace (2006), on demand hot water (2013) and tastefully renovated over the years with newer floors, gas fireplace, appliances, windows, fixtures and combined 395 sq. ft. of deck space. Tucked on a RT-8 lot on a beautiful and quiet tree-lined street, this home offers convenient access to schools, recreation centre, buses, shopping and Kits beach. Resident only parking out front. See realtor’s website for floorplan and virtual tour. Walk Score: 97 OPEN: Sat/Sun. Mar 11/12 2:00 - 4:00pm
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I have sold a property at 2930 WOODLAND DR in Vancouver.
Step into a Restoration Hardware catalogue! This fully reno'd 6 bdrm home features 2 exquisitely designed floors with 2.5 bathrooms that include in floor heating and heated towel bars. Enjoy newly installed fir flrs & carrera marble surfaces, CALIFORNIA CLOSETS, in- ceiling speakers, s/s appliances including a 36" gas range, integrated d/w, & an eat-in area w/ built-in storage bench. The formal dining room has wood burning fireplace. The back deck and yard are great for entertaining. Mechanical upgrades include electrical, roof (2015), new drain tiles and sumps, air filtration, A/C heat pump and CAT5 wiring. Close to Trout Lake, Commercial skytrain, Clark Park. OPEN: Sat/Sun Feb. 25/26, 2:00 - 4:00pm.
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A small bit of good news for first time buyers: An increase in the Property Transfer Tax exemption threshold for first-time buyers, announced in BC Provincial Budget 2017. The increase, to $500,000 from $475,000, takes effect today.


This change will make a difference for a lot of people. Since many of the first time buyers are now shopping in the $500k range, they can now benefit from the exemption. At the previous threshold, if they purchased at $500k, they would have had to pay the full amount of 1% on the first $200,000 and 2% on the balance. Even though it was a sliding scale after the $475k previous exemption threshold, the scale was steep and fast.


For more info on exemptions and the Property Transfer Tax in general, click here to visit: The Governemnt of BC 

 

Land transfer tax rates in British Columbia – Updated in 2016
 
Purchase priceMarginal tax rate
First $200,000 1.0%
On $200,000 to $2,000,000 2.0%
Over $2,000,001 3.0%
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I have sold a property at 704 1221 BIDWELL ST in Vancouver.
Well designed studio at the reputable ALEXANDRA building. This functional suite has a large den perfect for an office or WIC and boasts premium hardwood floors, European cabinetry, Miele/Sub Zero appliances & quartz countertops - there is no spared expense! Take time to yourself in Club Alexandra which includes fitness facilities & outdoor gardens, or entertain guests in the private lounge to watch the fireworks! This LEED Gold building is located in the original seaside neighbourhood, just blocks away from the beaches of the English Bay waterfront & lush greenery of Stanley park. Don't miss your opportunity to own this STUNNING pied-a-terre or investment property. 1 parking/1 storage locker included. Rentals & Pets welcome.
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I have sold a property at 315 8400 ANDERSON RD in Richmond.
TOP FLOOR CORNER UNIT with windows on 3 sides facing N, S and E! Very spacious and open floor plan, 9 ft ceilings, large windows. Well cared for with new paint thru-out. Engineered HW floors, lots of trim & baseboards. Spacious bedrooms, Master with full ensuite. Gorgeous Mountain views, convenient location central to everything! Amenities include GYM and party room.
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I have listed a new property at 2930 WOODLAND DR in Vancouver.
Step into a Restoration Hardware catalogue! This fully reno'd 6 bdrm home features 2 exquisitely designed floors with 2.5 bathrooms that include in floor heating and heated towel bars. Enjoy newly installed fir flrs & carrera marble surfaces, CALIFORNIA CLOSETS, in- ceiling speakers, s/s appliances including a 36" gas range, integrated d/w, & an eat-in area w/ built-in storage bench. The formal dining room has wood burning fireplace. The back deck and yard are great for entertaining. Mechanical upgrades include electrical, roof (2015), new drain tiles and sumps, air filtration and CAT5 wiring. Close to Trout Lake, Commercial skytrain, Clark Park. OPEN: Sat/Sun Feb. 25/26, 2:00 - 4:00pm.
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I have sold a property at 302 1860 6TH AVE W in Vancouver.
Beautiful, fully renovated two-level home with spectacular panoramic North facing city, water and mountain views. This gorgeous, 1160 SF unit boasts dark hardwood floors, granite counter tops, stainless appliances and modern updated bathrooms. Sunny Southern exposed balcony with huge windows provides a refreshing cross breeze in the summer months. Soaring vaulted ceilings with a cozy fireplace and spacious room sizes make for a great space to entertain. Central location, close to Kits beach, theaters, shopping, restaurants and minutes to Downtown. A perfect place to call home!
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Earlier this week, a friend called me to ask about her rights and responsibilities as a duplex owner. She has been having a minor dispute with her neighbor who owns the other side of the duplex where my friend lives. With the market the way it has been these past couple of years, we are seeing more duplexes being built and more people choosing it as an affordable option to have at least half of a detached home in Vancouver and surrounding areas. Duplexes are a great option for many people. But it is important you enter into duplex living fully aware of the implications. If both owners care about maintaining the property's appearance and value, in most cases the relationship between owners will run smoothly. If the owners disagree about what needs to be done, how it should be done or how much should be spent to do it, that's when you can run into problems.

 

So, if you disagree with your duplex neightbour, how does a decision get made? Duplexes are what we call non-conforming stratas. This means that the property is stratified so that one half of it can be sold independently from the other half. It also means that the property is subject to the strata property act standard by-laws, unless the owners have created their own by-laws (which is rarely the case). So, if there is a disagreement about the care and maintenace of the common property, such as painting the exterior walls, the standard by-laws state that the strata corporation will determine what will be done. In any strata, the owners make up the strata corporation. Are you following me here? If there are two owners, the owners make up the strata corporation and the strata corporation has the final say on what is to be done or not. You can see how this will be problematic if the 2 parties disagree. Essentially what this means is that nothing can be done if the two owners of the duplex disagree.

 

Now, what about if one owner went ahead and acted on the common property (gardens, fences, exterior walls and roof) wihtout the prior authorization of the strata corportation (both owners)? Well, the party who acted without authorization of the strata corporation (in other words the other owner), would be in violation of the strata property standard by-laws. I am not writing this post to scare you off purchasing a duplex. As with all my dealings with clients and the public, I just want to make sure you have information you need to make a sound decision.

 

What can do to make sure you have good neighbours when you buy a duplex (or any other property for that matter)? Be a good neighbour! I have found that the majority of people make for good neighbours. We have all heard horror stories of neighbors from hell, you may have even experienced one, but most people want their home to be a peaceful place and so they make for good neighbours. But there are some steps you can take to find out who your neighbours will be. Don't be afraid to ask questions about the neighbours and if they are willing, take the time to meet your potential neighbours before you make an offer. 

 

A final word on purchasing a duplex. Make sure you get a copy of the strata plan (all pages not just the first page) before you make an offer to be sure you are clear on the designated use of the limited common property. Your Realtor can make sure you have all pages and can interpret the details of the document for you. (Reading a strata plan is not rocket science, but it can be confusing if you have never seen one before, or if you have not been taught how to read it).

 

Click here to access the Strata Property Act Standard By Laws.  If you need assistance interpreting them, feel free to contact me. 

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I have listed a new property at 302 1860 6TH AVE W in Vancouver.
Beautiful, fully renovated two-level home with spectacular panoramic North facing city, water and mountain views. This gorgeous, 1160 SF unit boasts dark hardwood floors, granite counter tops, stainless appliances and modern updated bathrooms. Sunny Southern exposed balcony with huge windows provides a refreshing cross breeze in the summer months. Soaring vaulted ceilings with a cozy fireplace and spacious room sizes make for a great space to entertain. Central location, close to Kits beach, theaters, shopping, restaurants and minutes to Downtown. A perfect place to call home! OPENS: Thursday, Feb. 9th 5:30 - 6:30pm and Sat/Sun Feb 11/12 2:00 - 4:00PM.
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The Vancouver City Planning department has set up a pop up plannining shop in International Village Mall and they are holding public open houses all week. I visited the pop up shop today and saw the 3D model of the plan. Sorry, I don't have a photo to share (technical difficulties that originated with the user!). The plan looks great and makes a lot of sense. I was very impressed with city employee who spent a long time explaining the plan and answering my questions. The main concern I hear about the proposed removal of the viaducts is "where will the traffic go?" The thing people don't seem to undertand is this plan is not just to remove the viaducts, but to replace them with a better option. At present, transit and emergency vehicles cannot use the viaducts during peak times without running the risk of getting stuck in a grid lock. The new routes will allow such vehicles another option and will allow commuters the opportunity to re-route when traffic is heavy. There are so many great reasons to support the development plan, but I will let you explore them in the planning docuement on the city website. Or better yet, I encourage you to get out to one of the remaining open houses between now and February 7th. The reality is that the viaducts are an aging structure that has had a great deal of negative impact on the surrounding communities. I will be glad to see them go. And when I say see them go, I mean literally. I can see them from my living room window. It is a long term plan and it will take upwards of 10 years before we see it completed and yes, there will be some inconvenience in the process, but I am excited about the plans to improve the community around North East Fasle Creek. Click here to visit the City of Vancouver website for more information and to fill out a survey to share your thoughts and ideas with the planning committee. 

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