Please visit our Open House at 213 2680 4TH AVE W in Vancouver.

Open House on Saturday, July 6, 2013 1:30 pm - 3:30 pm

WELCOME HOME! I'm a 2 bedroom 2 bath condo in cool Kitsilano, steps to coffee shops, restaurants, transportation, schools, the library, the parks and Kits Beach. My building is well maintained and boasts a rooftop deck with great views. I'min perfect condition and have an open floor plan with gleaming maple floors, a large kitchen with lots of counter space and lovely maple cabinets and a breakfast bar. Cozy up to my gas fireplace or enjoy my large balcony enhanced in spring by beautiful trees. Secured parking and insuite laundry of course. I have lots of storage and a master bdrm walk-in closet. Drop by and admire! 1 dog or 3 cats. Rentals restricted. Open House: Sat, July 6th, 1:30-3:30 PM.

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Effective March 18, 2013 BC got a new Family Law Act which is considered the most significant change since the Family Relations Act which was passed in 1978.

The new FLA changes how BC courts will view relationships - both married and common law - and how assets are dealt with upon relationship breakdown.

Under the current FRA, unmarried spouses are excluded from property division. The only recourse for unmarried spouses is to claim spousal support, or to make a claim via a constructive trust.

Upon marriage breakdown there is a 50/50 division of family assets, which are characterized by how they ae used, not by who owns them.

The new Family Law Act moves to an excluded property model. It'll no longer rely on a two stage process of identifying the property subject to divison and then determining if that property has an "ordinary use for a family purpose" says the Ministry of Justice. Family property will include all real and personal property owned by one or both spouses at the date of separaton, unless the asset in question is excluded, in which case only the increase in the value of the asset during the relationship is divisible.

Whether an asset was ordinarily used for a family purpose will not be relevant in deciding if it is family property.

The exclusions include:

  • property acquied before or after the relationship - gifts or inheritances 
  • damage awards and insurance proceeds with some exceptions 
  • some kinds of trust property
These changes make the law simpler, clearer and easier to apply and easier to understand for the people who are subject toit. The one of importance is the date at which assets are valued. The new triggering event for crystallizing interests is the date of separation.
For the purpose of the FLA, spouses may be separated, despite continuing to live together.

In conclusion, couples are encouraged to enter into family law agreements.
There are four types: co-habitation, prenuptial, postnuptial and separation. It's important to identiry and value assets at the outset, and enter into an agreement to protect them.

courtesy Stan Clark Financial Team
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Please visit our Open House at 1503 1816 HARO ST in Vancouver.

Open House on Saturday, June 29, 2013 2:00 pm - 3:00 pm

WELCOME HOME! I love the tranquility of living on tree-lined Haro Street, a block from Stanley Park and steps to Denman and its transportation, coffee shops, groceries and restaurants. I'm a renovated and very smart SE corner 2 bedroom,great for cross breezes, with beautiful views of English Bay, the city and Coal Harbour. You'll love my maple hardwood floors, new bathroom and soaker tub, new European kit with Staron counters, marble walls & sleek appliances. My large east-facing covered balcony is great for enjoying summer evenings. I have secured parking and a full size locker. My building has undergone many upgrades and has an outdoor pool & sauna. Drop by & admire me. I'm perfectly priced! Open House: Sat, Jun. 29th, 2-3pm

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Vancouver's City Hall is developing a "downtown Kitsilano" along West Broadway changing zoning to permit more pubs, six storey condo buildings and a Skytrain extension to UBC which is in the planning stages. 

Properties along the Skytrain increase in value when the announcement to commence construction is announced.

In the meantime, the bus on West Broadway goes to UBC and downtown.

Also, let's not forget that it's a quick walk to Kits Beach and two minutes to Connaught Park, Kits Community Centre and Kits High School as well as a variety of other schools.

The Vine has three condo buildings at 2228, 2268 and 2288 W. Broadway. It was completed in 2008 and built by London Drugs which sits on the ground floor, along with Market Place supermarket.

The three condo buildings have large patios and a roof garden.

The tallest is 9 storeys. Completed in 2012 is Pinnacle Living at 2080 W. Broadway, which has 3 buildings in the complex and the tallest is 9 storeys.

The above Kits condos have studios, one and two bedrooms and are covered by the 2/5/10 year warranty.

A great buy for investors or owner occupiers.

Put my hyper-local Kits experience to work for you!

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The majority of Vancouver condo buildings hire a licenced property manager to run the affairs of the building. What are the duties of a Vancouver condo property manager? The manager is in charge of collecting monthly maintenance fees from the owners. Attending strata council meetings and distributing the minutes from those meetings to all owners. Preparing the agenda for council meetings and giving the required notice to owners for AGM or Special meetings. Prepare and distribute financial statements to strata council.

Do Property Managers Handle Vancouver Condo Building Repairs?

Yes, they are responsible for obtainig quotes for repairs. As well they deal with requests from owners who wish to rent their condo or owners who break the condo rules , which may result in a fine. Managers also handle qotes on building insurance, providing options for strata council regarding possible special assessents vs taking some or all of the funds out of the contingency reserve fund. They also deal with building emergencies, hiring and supervising the caretaker, gardeners, cleaners and have an extensive knowledge of the Strata Title Act.

Have A Vancouver Condo Question?

Put my hyper-local Vancouver real estate experience to work for you!

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The subject clauses you insert in your Contract of Purchase and Sale when buying a Vancouver condo will vary depending on whether its a buyers or sellers market. Here is a strategy when buying in a Vancouver real estae market that favours buyers. Given that you are not in competition with other offers, I'd advise you to take your time and carry out your due dilligence.

  1. Subject ot finalization of your mortgage. Your lender will have approved you but they also need to approve the property and establish current market value, which entails an appraisal
  2. Subject to reviewing the Property Codition Dislosure Statement. All sellers in B.C. must provide one of these documents
  3. Subject to reviewing the title. Have your lawyer review this for you
  4. Subject to a building inspection. If you're buying a Vancouver condo you'll definitely wish to have the condo and the building inspected. If you're purchasing a Vancouver townhouse, a home inspection is also recommended, even if it's still under warranty. A certified building inspector always finds something and an inspection eliminates any surprises after you move in.
  5. Subject to reviewing and approving the condo bylaws, financial statements, minutes of the meetings for the last 24 months
  6. Subject to reviewing a Form B which is provided by the condo building's property manager
  7. Subject to reading and approving the strata plan, which verifies the size fo the condo or townhome and note whether the parking is limited common property or common property or a pre-paid lease

 

Have a question about a Contract of Purchase and Sale?
Put my hyper-local experience to work for you!

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Property Photo: 1503 1816 HARO ST in Vancouver

Please visit our Open House at 1503 1816 HARO ST in Vancouver.

See details here

Open House on Saturday, June 22, 2013 1:30 pm - 3:30 pm

WELCOME HOME! I love the tranquility of living on tree-lined Haro Street, a block from Stanley Park and steps to Denman and its transportation, coffee shops, groceries and restaurants. I'm a renovated and very smart SE corner 2 bedroom,great for cross breezes, with beautiful views of English Bay, the city and Coal Harbour. You'll love my maple hardwood floors, new bathroom and soaker tub, new European kit with Staron counters, marble walls & sleek appliances. My large east-facing covered balcony is great for enjoying summer evenings. I have secured parking and a full size locker. My building has undergone many upgrades and has an outdoor pool & sauna. Drop by & admire me. I'm perfectly priced! Open Sat June 22nd, 1:30-3:30pm.

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Given we live in a climate of rising costs, here's some tips on saving energy in your Vancouver home -

  • install programmable thermostats and adjust the heat at night and when you leave home
  • if you have your own hot water tank, wrap it in insulation as this will reduce costs by 8-10%
  • keep fixtures and bulbs clean as dirt can absorb up to 50% of the light
  • always turn off lights when leaving a room
  • CFL light bulbs use up to 50% less energy
  • install water efficient low-flow showerheads and faucet aerators and install an ultra low-flow toilet or an early closure valve.
  • take showers instead of baths - they use less water
  • allow hot foods to cool before putting them in the fridge
  • use an electric kettle to boil water, its more efficient than using the stove
  • turn off the oven just before finishing  - the oven will remain hot long enough to complete the job
  • use the right size pot and match it to the right size element
  • unplug appliances when not in use as they continue to draw electricity
  • put on a sweater rather than turning up the thermostat
  • stop your dishwasher before the drying cycle and let it air dry, this will save 10%
  • wash your laundry in cod water
  • visit BC Hydro's website for more tips
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When you decide to sell your Vancouver property in a Buyers Market, it must be priced as accurately as possible in order to sell at the best price within a reasonable amount of time. Sellers often select prices based on yesterdays and have not accepted the current market condtions, which may be lower than their expectations.

 

How to Get the Highest Price for your Vancouver Property

  • price your Vancouver home correctly from the start and void following the market down
  • potential buyers will not look at your hme if its priced above the competition, which is priced at market value
  • buyers will make offers on the best priced properties, not the highest priced properties
  • properties that have been on the market for extended periods often come under scrutiny from buyers who question why the properties have yet to sell - perception is a key factor in how a seller's home is viewed by the average home buyer
  • real estate agents may skip over showing an over-priced home as it tells them the seller is not motivated to sell the property
  • buyers agents are always keen on getting their clients through the doors of a well-priced property first,  in order to give their clients an opportunity at getting the home of their dreams
  • the longer a listing sits on the market, the more likely it will sell for less than it would have fetched at the beginning
  • the key to pricing your home to sell for the highest price in the shortest period of time is to work with a hyper-local neighbourhood Vancouver Realtor

 

Why Hire A Vancouver Realtor with Hyper-local Experience?

Maggie Chandler knows how to do an accurate market comparison and set a List Price for your Vancouver real estate that will offer some room for negotiation, whilst attracting potential buyers. Put Maggie's experience to work for you!

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Property Photo: 1503 1816 HARO ST in Vancouver

Please visit our Open House at 1503 1816 HARO ST in Vancouver.

See details here

Open House on Saturday, June 15, 2013 1:30 pm - 3:30 pm

WELCOME HOME! I love the tranquility of living on tree-lined Haro Street, a block from Stanley Park and steps to Denman and its transportation, coffee shops, groceries and restaurants. I'm a renovated and very smart SE corner 2 bedroom,great for cross breezes, with beautiful views of English Bay, the city and Coal Harbour. You'll love my maple hardwood floors, new bathroom and soaker tub, new European kitchen with Staron counters, marble walls & sleek appliances. My large east-facing covered balcony is great for enjoying summer evenings. I have secured parking and a full size locker. My building has undergone many upgrades and has an outdoor pool & sauna. Drop by & admire me. I'm perfectly priced! Open Sat 1:30-3:30pm.

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Vancouver is ranked #8 in the world for the number of hirises, with 641( as of 2012) and a population of 616,000. New York City is ranked first with 5,853. Vancouver condos will be the home of the future as retirees and first time buyers fuel demand and price growth over the coming years, replacing the demand for houses. Affordability will drive the Vancouver condo market.

What Percentage of New Vancouver Housing are Condos?
2011 census shows condos are about half of all new housing stock. The current decrease in Vancouver condo prices will increase affordability from 22% of average household incomes in 2011, to 19% i 2013.

What Will be the Largest Age Group for Vancouver Condos?
The 25-39 group will be the largest, followed by the 40-54 and 55-74. It is expected that the first time buyers will lead the market, then trade up buyers and then Baby Boomers downsizing from the family home.

Put my hyper-local Vancouver real estate experience to work for you!

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Property Photo: 1503 1816 HARO ST in Vancouver

Please visit our Open House at 1503 1816 HARO ST in Vancouver.

See details here

Open House on Saturday, June 8, 2013 1:00 pm - 3:00 pm

WELCOME HOME! I love the tranquility of living on tree-lined Haro Street, a block from Stanley Park and steps to Denman and its transportation, coffee shops, groceries and restaurants. I'm a renovated and very smart SE corner 2 bedroom,great for cross breezes, with beautiful views of English Bay, the city and Coal Harbour. You'll love my maple hardwood floors, new bathroom and soaker tub, new European kitchen with Staron counters, marble walls & sleek appliances. My large east-facing covered balcony is great for enjoying summer evenings. I have secured parking and a full size locker. My building has undergone many upgrades and has an outdoor pool & sauna. Drop by and admire me anytime! I'm perfectly priced!

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Compromise is the secret to finding the right Vancouver home for sale. Wanting to avoid that 60 minute commute to the office but can't afford a house in the city? Compromise! Want to live close to family and friends and skip the long drive into the City for Thanksgiving Dinner? Compromise!

Trade in the White Picket Fence for a Vancouver Condo

Condos fit a busy lifestyle, lock the door and be gone. Consider developing areas such as Marpole which are less expensive than Downtown. Consider a townhome, less expensive than houses and more house-lke than a condo.

Vancouver Real Estate Priority List

Make a list and number your criteria one to ten, then focus on the top three most important factors in owning a home. If there's two of you, both should do a priority list, then amalgamate them.

Sign up for a list of Vancouver's most affordable neighbourhoods and put my hyper-local experience to work for you!

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A question I often get asked by buyer clients is how do Vancouver condo buildings assess the owners for repairs. If you purchase a condo in a new building it will be covered by a 2/5/10 year warranty. Prior to the expiry of the warranty the Strata Council will order an engineer's report and send the findings to the Developer to be addressed. After 10 years you're on your own.

What is the Contingency Reserve Fund?
Part of your due diligence when purchasing is to review the financial statements which show the reserve fund. The law now requires stratas to save 10% of their annual budget in the contingency reserve fund. This fund is used for future upgrades and repairs to the building.

How are Upgrades Paid For?
At the annual general meeting there will be a vote to do the repair and how to fund it.. There are a number of ways to pay for repairs. Either by raising the maintenance fees beforehand, or by a special assessment, or a combination of both. Often if a major repair is looming the strata building's property manager will suggest an increase in fees or quarterly payments ahead of time.

Put my hyper-local Vancouver condo knowledge to work for you!

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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.