Please visit our Open House at 1201 1211 MELVILLE ST in Vancouver.

Open House on Saturday, August 12, 2017 1:30PM - 3:30PM

Rarely available and sought after NE facing one bedroom and den in Coal Harbour's luxury condo The Ritz, featuring air conditioning, 9 ft ceilings, open floor plan with water view from dining room & balcony. Boasting deluxe finishings including updated hardwood floors, granite counter tops, gas cooktop, stainless steel appliances, gas F/P, secured parking & locker. First class amenities include 24 hour concierge, 3 elevators, visitor parking, indoor pool, Jacuzzi, sauna, steam, pool room, gym, lounge and outdoor garden with playground. Superb location, steps to the waterfront, shops, restaurants, transportation, Stanley Park, financial district. Easy to show. Quick possession. Open house Aug 11th 11-12, Aug 12th 1:30-3:30.

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Please visit our Open House at 601 933 HORNBY ST in Vancouver.

Open House on Saturday, July 29, 2017 1:00PM - 2:00PM

Welcome to Electric Avenue by Bosa, in the heart of Downtown Vancouver & boasting a 100 Walkscore! Steps to the YMCA, grocery & liquor store, shops, restaurants, skytrain & bus. A short walk to the waterfront in Coal Harbour or Yaletown. This spacious studio features granite countertops & a large 4 piece bath with soaker tub. Enjoy the building amenities which include a gym, theatre, lounge with a kitchen, plus two charming roof top gardens, 24 hours concierge, bike room & pro-active strata. Includes storage locker, no parking. Pets & rentals welcomed. Spacious studio currently rented for $1,296 to an excellent tenant.

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Please visit our Open House at 603 660 NOOTKA WAY in Port Moody.

Open House on Saturday, May 13, 2017 1:30PM - 3:30PM

WELCOME HOME to Polygon's Nahannie! You'll love this well laid out bright n.w. corner 2 bedroom, 2 bath with a spacious floorplan, lots of windows and in top condition. Boasting stainless steel appliances, gas stove granite counter tops and a centre island for entertaining. Your 4 piece ensuite boasts a soaker tub and large window. Two parking spots and large storage locker plus visitor parking. Enjoy the Canoe Club featuring outdoor pool, hot tub, steam and exercise room. Conveniently located steps to Evergreen Line and a short walk to restaurants, shops, Rocky Point trails and Westcoast Express. Pets and rentals welcomed. Well priced! OPEN SAT 13th 1:30-3:30pm.

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Please visit our Open House at 703 1146 HARWOOD ST in Vancouver.

Open House on Saturday, April 8, 2017 1:00PM - 3:00PM

A PERFECT 10! Ocean, city & mountain views in landmark concrete West End bldg with balcony. South after corner unit in meticulously maintained & well respected Lamplighter on quiet tree line street steps from Sunset Beach & seawall. Building recently replumbed, renewed parking membrance & tailored landscaping. NW exposure enjoys cross current and sunrise and beautiful sunset vistas. Gorgeous full renovation with premium finishings, new ceilings, LED recessed dimable lighting, German appliances, quartz countertops, maple hardwood floors, soaker tub rain & hand shower, sliding panel doors maximize space, floor to ceiling kitchen/dining rm cabinets. Locker, sauna, hot tub, onside caretaker. Rentals allowed. Ready to call home OPEN April 8th 1-3 and April 9th 12-1pm.

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Please visit our Open House at 703 1146 HARWOOD ST in Vancouver.

Open House on Sunday, April 9, 2017 12:00PM - 1:00PM

A PERFECT 10! Ocean, city & mountain views in landmark concrete West End bldg with balcony. South after corner unit in meticulously maintained & well respected Lamplighter on quiet tree line street steps from Sunset Beach & seawall. Building recently replumbed, renewed parking membrance & tailored landscaping. NW exposure enjoys cross current and sunrise and beautiful sunset vistas. Gorgeous full renovation with premium finishings, new ceilings, LED recessed dimable lighting, German appliances, quartz countertops, maple hardwood floors, soaker tub rain & hand shower, sliding panel doors maximize space, floor to ceiling kitchen/dining rm cabinets. Locker, sauna, hot tub, onside caretaker. Rentals allowed. Ready to call home OPEN April 8th 1-3 and April 9th 12-1pm.

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Please visit our Open House at 401 2655 CRANBERRY DR in Vancouver.

Open House on Saturday, March 4, 2017 1:00PM - 3:00PM

If your're looking for perfection this is it! High quality condo in desirable Arbutus Walk's prestigious concrete building, The New Yorker. Excellent open floor plan with high ceilings & upgrades. Tiled entrance & gorgeous new wide plank bamboo floors. South facing with a balcony & open garden outlook. High end S/S appliances, Wolf gas stove, new Miele dishwasher, Asko washer/dryer and gas fireplace. Open kitchen with granite countertops & wine rack. Dining room is a solarium. Den could be a bedroom. Spotless condition throughout. Quick possession possible. Visitor parking and meeting room. Very pro-active strata and a good Depreciation Report. Steps to Arbutus/Broadway shopping & transportation. Open House: Sat, Mar 4th, 1-3 PM. Act fast.

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Please visit our Open House at 3007 1328 PENDER ST W in Vancouver.

Open House on Saturday, January 14, 2017 1:30PM - 2:30PM

Spectacular water, mountain and city views from Coal Harbour's Classico. A very rare find! This spacious NE corner 2 bedrooms and den features floor to ceiling windows to take advantage of the awesome views, tiled entrance, hardwood floors, large open kitchen with breakfast bar and features stone counters, stove top and oven plus full size washer/dryer. Fireplace in living room and master bedroom featuring large walk-in closet, 5 piece ensuite with Jacuzzi tub. 2 balconies. Parking and storage locker plus visitor parking and guest suite. Resort style amenities include indoor pool, Jacuzzi, sauna, gym & party room. Some furniture included. Immediate possession. Enjoy Coal Harbour's waterfront lifestyle, Stanley Park, Robson Street shopping.

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Please visit our Open House at 2306 838 HASTINGS ST W in Vancouver.

Open House on Saturday, August 6, 2016 1:30PM - 3:00PM

Welcome home to Bosa's Jameson House! Centrally located in Vancouver's Downtown heritage and business district. Enjoy the sought after n.w. exposure with spectacular WATER, MOUNTAIN AND CITY VIEWS, 73sf deck. Features Canada's first auto valet service. This 2 bedroom and den has 9ft ceilings, floor to ceiling windows, in floor radiant heat, contemporary kitchen by Dada Cucina of Italy, Gaggeneau and Sub-Zero appliances, imported Travertine flooring together with many luxury appointments including air conditioning, remote shades, 24 hr concierge, 2 parking stalls. Conveniently located to luxury shopping, top restaurants, the seawall and Stanley Park. 97 Walkscore. Live the Vancouver Lifestyle. Immediate possession. Open House: Sat, Aug 6th, 1:30-3:00 PM.

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TheBritish Columbia Real Estate Association (BCREA) reports that a record 12,906 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in June, up 14.3 per cent from the same month last year.Total sales dollar volume was $8.97 billion in June, up 25.7 per cent compared to the previous year.


The average MLS® residential price in the province was up 10 per cent year-over-year, to $694,925.

“Robust housing demand in the Lower Mainland, Vancouver Island and the Okanagan drove sales growth in June,” said Brendon Ogmundson, BCREA Economist. “At the same time, the inventory of homes for sale continues to slide lower, creating very tight market conditions around the province.“


“The supply of resale homes is remarkably low across BC, but particularly so in Victoria and the Fraser Valley,” added Ogmundson. The sales-to-active listings ratio has eclipsed 60 per cent in both Victoria and the Fraser Valley, corresponding to less than two months of supply given current demand.

Year-to-date, BC residential sales dollar volume increased 53.2 per cent to $49.9 billion, when compared with the same period in 2015. Residential unit sales climbed by 30.6 per cent to 67,361 units, while the average MLS® residential price was up 17.3 per cent to $741,150.

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The Bank of Canada announced this morning that it is holding its target for the overnight interest rate at 0.5 per cent. The Bank noted that inflation is on track to return to its target of 2 per cent by 2017, though heightened global uncertainty presents a risk to that forecast.


Economic growth in Canada appears to be slowing as expected in the second quarter.  Our tracking estimate of second quarter real GDP growth is currently at -0.5 per cent following a strong start to the year.

Most of the slowdown is due to disruptions caused by the Alberta wildfires which points to a strong rebound as oil production comes back on-line and the reconstruction effort begins


Our forecast remains that the Bank will be sidelined for the remainder of 2016 and through most if not all of 2017.




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Housing starts in BC continued on a near record setting pace, up close to 40 per cent to 47,984 units SAAR.

On a year-over-year basis, new home construction was up 36 per cent,  driven higher by growth in apartments and other multi-family units, which were up 49 per cent on a year-over-year basis while single-detached starts were 3 per cent higher in June.  T

hrough the first half of the year, BC housing starts are up 42 per cent compared to 2015. 

Looking at census metropolitan areas (CMA) in BC, total starts in the Vancouver CMA were up 38 per cent year-over-year in June as a result of a 50 per cent increase in multiple unit starts.

Single-detached starts in the Vancouver CMA were down 4 per cent. 

July 11, 2016

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Total building permit acitvity in May was 2.2% higher than April and was the third consecutive month of over $1.1 billion in permits.

On a year over year basis permits were 20.3% higher than the previous year, led by a 22.6% increase in non-residential permits.

In fact, non-residential permits dropped slightly in May but remained 19.5% higher than the previous year.

In Vancouver's Central Metrolpolian Area (CMA) building permits rose 9% on a monthly basis and were up 23% year over year.

Abbotsford-Mission jumped a whopping 40% on a monthly basis but were 4.9% lower year over year

In Victoria CMA permit activity dropped 23% on a monthly basis but increased 26% compared to May 2015.

 

July 7, 2016

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The British Columbia Real Estate Association (BCREA) reports that a record 13,458 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in May, up 32.3 per cent from the same month last year. Home sales last month exceeded April’s record of 12,969 units. Total sales dollar volume was $9.72 billion in May, up 51.1 per cent compared to the previous year.


The average MLS® residential price in the province was up 14.2 per cent year-over-year, to $722,146.

“Record housing demand and dwindling inventories are continuing to push home prices higher in most BC regions,” said Cameron Muir, BCREA Chief Economist. “Total active residential listings across the province are nearly 30 per cent lower than twelve months ago.“


“New home construction activity is at a near record pace in the province,” added Muir. In the Metro Vancouver market, a record number of homes are now under construction. “Once the current crop of homes are ready for occupancy there will likely be more selection for home buyers and less upward pressure on home prices."


Year-to-date, BC residential sales dollar volume increased 62 per cent to $41 billion, when compared with the same period in 2015. Residential unit sales climbed by 35.2 per cent to 54,455 units, while the average MLS® residential price was up 19 per cent to $752,105.


June 15, 2015

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Please visit our Open House at 112 2288 PINE ST in Vancouver.

Open House on Saturday, June 18, 2016 1:30PM - 3:00PM

A rare opportunity to own a unique 2 level 2 bedroom townhome in The Fairview, a concrete midrise. Enjoy large rooms, featuring a patio and balcony plus insuite storage and two and a half bathrooms and 2 parking and storage locker. Enjoy this west facing home with a lovely treed outlook. Building has a live in caretaker, indoor pool, hot tub and gym. Building re-piped in 2013, elevators upgraded 2015. Boasting a 99 Walkscore, close to public transit, a new city park, Granville Island, shops and restaurants and Kits Beach. One pet under 40 lbs, rentals limited to 5. Take immediate possession and bring your decorating ideas. Open: June 18th, 1:30-3:00pm.

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1. Get proper insurance 

After deciding to rent out your property, notify your insurance company and receive proper insurance. Landlord’s insurance will protect you against damage to your property or any liabilities.

Should the property be damaged in a fire or storm, the insurance company will cover the cost of the repairs. However, many insurance claims do not cover damages caused by the tenant. Be sure to clarify in your claim with your insurance agent or inquire about adding on tenant insurance.

2. Be competitive about your pricing

Research the average pricing of rental properties in the market and set a competitive price. Avoid listing your property at the lowest rental price to attract more tenants; it will likely backfire because it will attract tenants who are only focused on price and who will leave in search of the next lower priced unit.

3. Understand landlord’s rights

It’s important that landlords know their rights and their tenants’ rights to avoid any lawsuits or legal issues. Canada Mortgage and Housing Corp. lists extensive information for each province on what landlords can and cannot do.  Or view BC's Residential Tenancies website.

 

4. Maintain the rental property

If the rental property requires any repairs or is in need of a touch-up, be sure that they are conducted before viewings start.  Create a space that is clean and comfortable; as you would for yourself.  After a tenant has moved in, be responsive and timely when they contact you should an issue arise.

6. Understand tax laws

Canada Revenue Agency requires that rental income is reported on your annual tax return.  Any reasonable expense – repairs or renovations, for example – incurred to earn your rental income can be deducted, but you cannot deduct the value of your own labour if you do the repairs or renovations yourself. If you’re unsure, the CRA provides a full list of expenses you can deduct.

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Housing starts in BC cooled off of the near record-setting pace from the first five months of the year, recording 35,312 units at a seasonally adjusted annual rate, a 23 per cent decline from April's torrid pace of 45,000 units.

New home construction was driven higher by growth in apartments and other multi-family units, which were up 34 per cent on a year-over-year basis while single-detached starts were 32 per cent higher compared to last May. 

Looking at census metropolitan areas (CMA) in BC, total starts in the Vancouver CMA were up 36 per cent year-over-year in May due to demand for both single and multiple units.


BCREA


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Effective May 16, 2016 real estate contracts prepared by Realtors must state that the contract cannot be assigned without the written consent of the seller, and that any profit from an assignment goes to the initial seller.

The new changes apply to residential and commercial transactions. Pre-sales are exempted. 

The contract of Purchase and Sale has been amended to include two new clauses.

Both a seller and a buyer still has the ability to amend or entirely strike out the two new clauses. In this case, a notice must be provided to the seller using a new form Notice to Seller Regarding Assignment Terms.

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The BC Government, as of May 15, 2016 will require contracts of purchase and sale for BC real estate to include a clause stating that the contract cannot be assigned without the written consent of the seller,and that any profit from an assignment goes to the initial seller. Sellers can instruct their Realtor to omit or change the clause.

BCREA President Deanna Horn says "like many other provisions in the contract, buyers and sellers have the option of keeping the new paragraph, changing it or striking it out completely".

The following cluase will now be a part of the Contract of Purchase and Sale:-

"The seller and the buyer agree that this contract: (a) must not be assigned without the written consent of the Seller and (b) the Seller is entitled to any profit resulting from an assignment of the Contract by the Buyer or any subsequent assignee.

"Assignment" is the practice of someone assigning their rights in a contract to someone else before the transaction completes. In smple terms, someone can buy the right to step into the original buyer's shoes to complete the contract. 

Assigning one's right to a contract is a legitmate practice, allowed by common law and also by section 36 of the Law and Equity Act.


Also, starting in Jne 2016 the provincial government will begin collecting citizenship data of real estate owners through the Property Transfer Tax form.

 

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BC Housing Starts remained in a strong uptrend in April, rising 14%, driven by growth in apartments and single family housing.

Total housing starts in Greater Vanouver rose 37% year-over-year, as a result of a 45% growth in multiple unit starts.

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CREA just released a report detailing the most search Canadian cities by various countries around the world.

Vancouver is the second in popularity from Australia, Brasil,China,, Germany, Hon Kong, South Korea and the UK. Toronto was first is all these categories.

For the UAE and the US, Vancouver was third.

For India, Vancouver was fifth.


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