Steady increases in home sale and listing activity continue

Home buyers and sellers have gradually become more active in each month of the COVID-19 pandemic. In June, home sale and listing activity in Metro Vancouver* returned to more historically typical levels.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,443 in June 2020, a 17.6 per cent increase from the 2,077 sales recorded in June 2019, and a 64.5 per cent increase from the 1,485...

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Almost every offer I write for my Buyers these days, there are othe Buyers who want the same property at the same time! Especially for condos.


This really changes how I approach writing their offer. With the Buyer in agreement, there are steps you can take to prepare to win. prior to the offer presentation time.


1. For Condos, read all the documents you receive from the listing realtor. There are a lot of them! But if you read everything, as I will too, ask lots of questions, get professional opinions...

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When you scroll through the myriad of real estate websites, there are always properties that really catch your eye. It could be the velvety green sofa or the mid-century modern teak dining room table or funky art on the wall.


It most certainly is NOT the close up of the toilet seat up or the pile of dishes next to the kitchen sink! Yes, first impressions are critical, and for real estate websites selling your home, all photographs posted online are first impressions.


That is why, before the photograher...

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Recently, a client of mine, a lovely young lady and first time BUYER, purchased a one bedroom and one bathroom condo at 989 Nelson Street in downtown Vancouver. Prior to the late 1990's, this was the BC Hydro Building - an office tower.


I had never been in the building before and was really impressed with the successful conversion to condos. This unit faces the Wall Center and has an extra city view in its reflection! At only 496 square feet, the great layout made it feel more spacious.

This building...

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Since the BC government has reopened all our public spaces and various businesses, we have seen a real increase in the number of people listing their homes, and as a result more sales.

We have now had almost 4 months of learning how to do real estate in a safe and productive way, with our masks, gloves, hand sanitizers and social distancing ( which is a bit tough in some of those small 1970's elevators!).


The busiest market is the condo market which is where home purchasing is still most affordable...

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Renovating your home?

Start small with one of the smaller rooms in your home - the bathroom!

Here are the top 10 trends for bathrooms this year. Which style do you like?


#3 EXPOSED SHOWER PLUMBING


“In bathrooms, we’re incorporating more exposed shower plumbing. The industrial look pairs beautifully with a white, modern marble.”


See the other 9 great ideas:


https://www.elledecor.com/design-decorate/trends/g23694206/bathroom-trends-2019/

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In the City of Vancouver, as well as our North shore communities, you can buy beautiful, brand new modern homes. However, we have had a long history of this building aesthetic for the past 80 years.

A modern home is a style of design that embraces the idea of minimalism and the use of unconventional house materials such as glass, steel and concrete.

If you are a fan of the modern home (as we are!), you may find it interesting to note that the first house in the modern style was built in West Hollywood...

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Tax Rates for Speculation and Vacancy Tax

 

The speculation and vacancy tax rate varies depending on the owner’s tax residency. In addition, the tax rate varies based on whether the owner is a Canadian citizen or permanent resident of Canada, or a satellite family.

For 2018, the tax rate is:

  • 0.5% of the property’s assessed value for all properties subject to the tax

For 2019 and subsequent years, the tax rate is:

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Vancouver the least affordable

In Canada's most expensive market — Vancouver — house prices are expected to fall another 2.5 per cent this year, while sales remain flat. On Thursday, the Real Estate Board of Greater Vancouver said the benchmark price for a home, which is a composite of detached properties, townhomes and condominiums,  fell by 2.7 per cent in December 2018 compared to the previous year. 


Read on....


https://www.cbc.ca/news/b...

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In unaffordable Vancouver, we need to start thinking small.

 

Tiny houses, lock-off suites, laneway suites, houseplexes are necessary housing options.This was the theme of a recent conference organized by Small Housing BC (SHBC), a non-profit organization created to promote smaller homes throughout the province.

Read what Michael Geller has to say about small spaces:


https://www.vancourier.com/opinion/in-unaffordable-vancouver-we-need-to-start-thinking-small-1.23505368?utm_sou...

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At Vancouver City Hall, new councillor Colleen Hardwick was attempting to get council’s support to send the bylaw passed Sept. 19 to another public hearing with the aim of rescinding it.

Hardwick pointed out her NPA colleague Melissa De Genova and Green Party Coun. Adriane Carr rejected Vision’s duplex plan for single-family neighbourhoods in the previous sitting of council.


Learn more...





https://www.vancourier.com/real-estate/npa-councillor-blasts-colleagues-for-failing-to-rescind-du...

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VANCOUVER — The City of Vancouver says it has collected $18 million from the first year of its empty homes tax and another $12 million could still flow into its coffers.

 

The city says in a news release that it expects to generate a total of $30 million from the first year of the tax which is applied to vacant residential properties in a bid to ease Vancouver's near-zero vacancy rate.


Learn more...

https://www.vancourier.com/real-estate/vancouver-expects-30-million-in-first-year-...

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Green Party Coun. Adriane Carr drafting motion to rescind vote of previous Vision Vancouver-led council.

  • Generally, a new council is free to reconsider previous bylaws and resolutions of its predecessors.
     
  • If the new council wanted to take steps to reverse some or all of these [duplex zoning] amendments, council would need to hold a public hearing prior to approving an amendment to reverse the amendments that are currently proposed.
  • If (as is the case here) the matter being reconsidered is a...
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 Areas covered by the Real Estate Board of Greater Vancouver include: Whistler, Sunshine Coast, Squamish, West Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richmond, Port Moody, Port Coquitlam, Coquitlam, Pitt Meadows, Maple Ridge, and South Delta.


The real estate industry is a key economic driver in British Columbia. In 2017, 35,993 homes changed ownership in the Board’s area, generating $2.4 billion in economic spin-off activity and an estimated 17,600 jobs. The total...

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Where are Western Canada's biggest hotspots for real estate investment in 2019? If you have some funds burning a hole in your pocket, you would be advised to take a look outside of the usual suspects of Vancouver and the Capital region.

 


Here are our sister publication Western Investor's picks for the top five Western Canadian cities to invest in real estate over the next year.


Read on to find out!

https://www.vancourier.com/real-estate/2019-s-top-five-real-estate-investment-towns-in-w...

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If you cannot afford a house in Vancouver but still want the luxurious lifestyle, developers are bringing some fun ammenities to their designs:


1. designated hot and cold food storage rooms for food delivered before you make it home from work

2.  designated spot for Uber and Lyft rides (not yet in Vancouver!)

3. a high-tech shared working space for those who want to work from home

4. an exercise room outfitted with a gym system that mixes arcade-style activities with fitness.


In 2014, condo...

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Metro Vancouver's current housing slump will last until 2021, but will be followed by dramatic doubling in single-family prices, predicts analyst.

A real estate analyst who accurately predicted Metro Vancouver’s housing crash a year ago says the current slump will stretch out for three more years.

Read on....


https://www.vancourier.com/real-estate/detached-home-prices-will-soar-after-three-year-slump-analyst-1.23467287

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Rezoning proposal outlines plan for 55-unit, six-storey residential building.

 A 55-unit, six-storey residential building is proposed for a land assembly near the Little Mountain development site.

 


The proposal, for which a rezoning application has been submitted, involves property from 4906 to 4970 Quebec St.

 A 55-unit, six-storey residential building is proposed for a land assembly near the Little Mountain development site.

Read on...


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Michael Geller, a contributor to the Vancouver Courier re: real estate/housing issues, always has a clear and calm view of the situation.

Six False Creek affordable housing lots still empty after three decades: Vancouver Sun front page story March 10, 2018

      
While I didn't write this story, I feel partially responsible for it.
     During the recent debate about the forthcoming North-east False Creek development, much was made of the city's promise to include significant affordable housing. This prompted me to comment that this was a noble goal, but before getting too excited about these units, what about the 6 empty social housing parcels lying fallow along the North Shore of False Creek?
     I knew about these parcels because I was given a tour of them by Concord Pacific during the 2008 municipal election. Furthermore, I was involved as an expert witness in a lawsuit over them a few years ago. Following my comments, Lori Cuthbert contacted me. I happily put her in touch with Cameron Gray, who was the City's Housing Director, and while not directly involved in the acquisition of these sites, knew why they remained undeveloped.
     I told Lori that I thought it was outrageous that these sites remained undeveloped, not as a criticism of Concord Pacific, but rather of the city, province and feds who could have come up with a strategy to see these parcels developed with affordable housing, even in the absence of deep government subsidies. Enough said.

     http://vancouversun.com/news/local-news/three-decades-ago-six-big-lots-in-vancouvers-trendy-false-creek-were-reserved-for-affordable-housing-they-remain-empty-today-will-these-600-homes-for-families-and-seniors-finally-be-built
      
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.