BURNABY
WEDNESDAY, WEDNESDAY, JANUARY JUNE 20, 21, 2016 2017
TRI-CITIES
info@rew.ca • 604-435-7977
REALTORS® in Real Estate Weekly are working hard for you. Whether buying or selling, check out the newest and most amazing homes listed in your neighbourhood.
R E A L E S TAT E W E E K LY
Vancouver Real Estate Market “Ain’t Seen Nothing Yet” T
he Vancouver real estate market, far from reaching its peak in terms of unaffordability and lack of housing, is merely “dancing on the edges of a massive problem,” according to one leading development marketer. Speaking to a packed audience at the Urban Development Institute luncheon on new home marketing at the Fairmont Hotel Vancouver June 8, Cameron McNeill of MLA Canada added, “We ain’t seen nothing yet.” The panel of well-known development marketing bosses, which also included Scott Brown of Fifth Avenue Real Estate Marketing and Daryl Simpson of Bosa Properties, discussed how blistering demand and a trickling supply of new housing is affecting the affordability of homes in the region. Event moderator and UDI chair Jon Stovell of Reliance Properties asked the panel whether onerous building permit requirements and slow processing times were affecting home prices – to which the
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reply was unanimously “yes, absolutely, 100%.” Cameron McNeill observed that the Metro Vancouver region is expected to grow by 250,000 people in next five years, and that it currently takes around six years to get a highrise residential project from conception to occupancy – “if it all goes well”. He said, “And that’s maybe 300 units. The city is 300,000 people bigger by that point.” McNeill added, “We’re dancing on the edges of a massive, massive problem. And it’s not going to change. I just came back from Hong Kong and everybody I spoke to said to me, ‘That’s nothing.’ We ain’t seen nothing yet. This is just the tip of the iceberg for Vancouver.” Population Growth Daryl Simpson pointed out that population growth numbers, and therefore housing demand, would likely be even higher than
Controversial Chinatown Condo Project Rejected by Council
projected, as projections are based solely on permanent residents and citizens. “One thing they rarely look at student visas and multiple-entry visas. There were 67,000 student visas in BC last year. And you have to think, if they’re flying to BC to study, these are students with means, maybe wealthy families. In 2016, there were 315,000 multiple entry visas – they last 10 years and allow people to fly back and forth. So you need to layer those on top of the permanent residents and citizen population growth.” Scott Brown said, “You can’t fix demand. And if this is a housing crisis as the media says, where is the multi-stakeholder group figuring out how to speed up supply? If we were going to war we sure as hell would be working out how to arm up quickly. But we spend more
Editorial: Letʼs All Play Nice at Development Public Hearings
time working out how to break things apart than how to fix things. We need to work together. We’re trying, but putting one project a time on the market, there’s so much demand, prices just keep escalating.” Simpson added, “Look at the 450 acres in False Creek Flats, with 1,400 residential units in total earmarked for that area. That’s three homes per acre. That’s insane. Ask Ryan Holmes of Hootsuite what he needs, it’s not 450 acres of industrial land, its proximate residential units [so employees can afford to live in Vancouver close to work]. Ask Amazon, they’ll say the same thing. Go to Seattle, there are more residential units being built by Vancouver developers – Bosa, Westbank, Onni – right across the street from the Amazon HQ than will be built in the whole of the False Creek Flats.”
How Home Capitalʼs Meltdown Could Affect Mortgages
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Your Experienced Local Realtors
Tony Alves 604.889.7008
Teresa Pang 604.617.0189
Sutton Group - 1st West Realty AN INDEPENDENT MEMBER BROKER
604-942-7211 www.sutton1stwest.com
Centre Realty 604.435.9477 www.tonyalves.ca • aalves@sutton.com pangt@sutton.com
#904-1135 QUAYSIDE DR., NEW WESTMINSTER OPEN HOUSE SAT & SUN 2-4
$808,800
Marten Felgnar 604-250-4175 mfelgnar@shaw.ca
20838 117 AVENUE, MAPLE RIDGE HOLY SMOKES, this is a LOT of house! Almost 3900 SQ FT - 4 bdrms - 4 bthrms - 3 LEVELS VAULTED CEILINGS - LARGE WINDOWS - GRAND STAIRCASES - 2 FIREPLACES - RECRM FAMILY RM - GAMES RM - LARGE Fully Fenced, Level, PRIV,TREED(60 x 120) lot. UNIQUE blend of CONTEMPORARY & TRADITIONAL!! In 1994, a full 2 STOREY ADDITION was added (with permits) Doubling the size of the original home & 3 ZONE Hotwater Baseboard Heat was added. The 3rd level is the (582 sq ft) MASTER SUITE w/VAULTED CEILING, 5 Piece Bath w/JETTED SOAKER TUB,Walkin Closet & Loft area. Open Kitch w/HARDWOOD Flrs, generous sized DNGRM where you can host large dinner parties. (20 x 18) Famrm w/ sliders to back patio. Lvgrm & Recrm both w/ F/P'S. 2 LARGE Bdrms and 2 bths on main flr. Bdrm,Den,office & 3 pce bath in bsmt.
John Panrucker 604-230-7390 jpanrucker@sutton.com
Marten Felgnar 604-250-4175
Heather Langis 604-720-0091
Surp Rai 604-763-5263
Jim Gwynn 604-880-0948
Orlando Johannson 604-803-4336
hlangis@shaw.ca
surpsrai@gmail.com
jgwynn@sutton.com
orlandoj@shaw.ca
A gorgeous spacious unit, totally renovated with quality taste and flair, located on the sought after “Anchor Pointe” building, on the preferred Quay location. You can cook and enjoy the view from the updated open kitchen, with beautiful quartz countertops, and good size island. Two spa accented bathrooms. Large private master bedroom & ensuite. Fabulous Fraser River views from every room and the good size balcony. Enjoy your morning walks along the river and easy walk to skytrain, transit, shopping & downtown district. Rentals allowed but no pets. A MUST SEE! ENJOY LIFE AT THE QUAY!
JOE PAL 604.721.5121 List your property with Joe Pal. I will show you how to save.
Westcoast Realty
TOP FLOOR 2 BEDROOM CONDO OPEN HOUSE SUNDAY, JUNE 25th, 2-4 PM • 98 LAVAL STREET, COQ., MALLARDVILLE
3642 Inverness Street, Port Coquitlam • $849,900
Open House Sat & Sun June 24/25 from 1-3 pm
Spacious 3 bedroom Rancher located on large 8174 square foot lot along a quiet street in Lincoln Park. Contemporary updates & renovations feature comfortable open concept living & include addition of a new family room & den in 2012, family size maple kitchen w/ eating island & stainless appliances, new main bath w/ tumbled marble tile. Covered walk out deck off kitchen to enjoy year round. Fully fenced & private park like back yard offers gated access from back lane to allow RV parking. Property upgrades: new roof, gutters, soffits, windows, electrical sub panel, furnace, vinyl lined crawlspace, sump pump & pressure treated deck, crown mouldings & much more. Truly a fine home & property that must be seen to appreciate. First showings Sat June 24 & Sun June 25 from 1pm-3pm.
#101 - 1020 Austin Ave., Coquitlam, BC.
All Points Realty
2615A St Johns St., Port Moody, BC
Important! Be quick! 4+ million redoing exterior just like new update. Owner pays the levy. This 2 B.R. 2 Bathrms., about 875 sq ft.. Top floor corner suite. Lots of light & window in the Kitchen. High ceiling living room. Gas fireplace. 16’ 10” long master bedroom. Your own laundry room. Storage. Underground parking. Nicely redone interior. Good condition building. Interior good shape. Bus/Skytrain access, Schs. Only $389,600. Good offers are welcome. Ph. Joe Pal 604-721-5121
North Delta Old timer home on big lot 66’X100’. 3 level home with lot a room for basement suite. Big workshop. Near Scott Road (120 St.) Asking $900,000. Offers welcome. Dr. by 11739-80 Ave. Ph. Joe Pal 604-721-5121.
Looking for a new home? Start here.
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Dean Macdonald
www.dexterrealty.com
604-786-2977
604-689-8226 Yaletown 604-336-3539 Main Street 604-263-1144 Kerrisdale $2,188,000
Taking our Listings Global OPEN SAT & SUN 2-4PM
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BUILDERS & INVESTORS ALERT! FIRST TIME ON THE MARKET! FULL DUPLEX - R4 ZONING
BUY, HOLD OR BUILD…the possibilities are endless!! This rare property comes with 3 bedrooms up, 2 bedroom basement suite on each side and 3868 sq ft of comfortable living space. Sitting on a massive 72’ x 126’ lot minutes from SFU, Burnaby North, Lochdale Elementary, Kensington Shopping Centre, Burnaby Mountain Golf Course and much more. 1111 Duthie Avenue KAREN CHANG 604-700-8092
TIN LIS
TUDOR GROVE Completely and tastefully renovated townhome. New floors, kitchen, bathrooms & paint. Huge 400 sf private rooftop deck. Parking and storage included. Fantastic location. 23-6588 Southoaks Crescent JACKIE CHAN 604-318-7788
$1,498,989
$745,888
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ENJOY PRIVATE BACK YARD WITH VIEWS
Great Investment Potential for the savvy International Buyer. Well maintained Rancher Bungalow with solid wood doors, floors and built in Oak cabinetry. Mountain views from an enclosed rear reenforced sundeck overlooking a generous perennial garden. Very comfortable for a smaller but growing family. Elementary and High Schools, Kensington Plaza within walking distance. The single floor plan also makes a great fit for the retired who loves gardening. Great "Trans-Canada Trail", either to SFU or Burrard Inlet, steps away. On a bus route to SFU and Metrotown making it student friendly, with a separate entry spacious basement for privacy. Roof insulated recently to add comfort, newly installed glazed windows throughout the house. 831 Duthie Avenue STEVE SEPTEMBER 604-368-7059 septemberrealty@gmail.com
DEXTER ASSOCIATES REALTY $1,488,888
$639,000
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Beautiful expansive family home on large private cul-de-sac. Tastefully updated with a very open floor plan and lots of space NG to relax for the family. Tucked in I ST LI a fabulous garden setting with a W E magnificent view! N
Candace Filipponi 604-809-4403
DEXTER A SSOCIATES www.cfilipponi.com R EALTY candacefilipponi@gmail.com $998,800 Classic 1960’s style home has been
AVIARA LIVING Investment Property in Burnaby ready for the Summer months. 2 Bedroom + Den, 2 Bathroom, 2 PARKING (side-by-side) and a Locker in the much sought after AVIARA. More than 180 degree views from Metrotown to the North Shore Mountains from floor to ceiling windows and a generous patio. Does NOT look over the Cemetery. Sunny throughout the day with A/C for extra comfort. Close to Brentwood Mall, many restaurants, Gilmore Skytrain, but away from the noise. Community centres, Schools and Parks all easily a few blocks away. 1007 - 4189 Halifax Street STEVE SEPTEMBER 604-368-7059 septemberrealty@gmail.com
PETER JENSEN 604.813.4490
VIEW HOME / PRIVATE YARD
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in the same family since day one! Great investment property or a renovator’s dream. Features include: View property, 3 bedrooms up, self contained mortgage helper down with separate entrance. BONUS Converted garage with its own power, heat, has existing Beauty Salon. Transit and schools just steps away in this lovely Coquitlam neighbourhood.
97 Mundy Street, Coq
NORM FLOCKHART
PREC
(604) 261-7275 13 Year Member of MLS Medallion Club
OPEN HOUSE SUNDAY JUNE 25th, 2-4 PM 311-5800 Andrews Rd. The Villas NEW PRICE!
$629,000
Come and enjoy the AMBIANCE and LIFESTYLE offered in this 1080 Sq. Ft. 2 bdrm. and den apartment (PROFESSIONALLY MEASURED by EXCELSIOR MEASURING) located at The Villa’s in STEVESTON. Features include engineered h/w flooring, 2 full baths, in floor h/w heating, gas f/p, with great views of the North Shore mountains. FABULOUS location with steps to the RIVER, boardwalk, off leash dog park, Steveston Village and recreation. Pet friendly building. Secure parking, rainscreened and extremely well run strata. Maintenance includes heat, h/w and gas. Excellent location and complex. Very spacious and IMMACULATE apartment. The PERFECT spot to call home.
$1,495,000
LIVE IN NORTH BURNABY'S DELIGHTFUL MONTECITO! This 2748 sqft family home is found in a lovely pocket of winding streets & modern underground services! 3 BRs & 2 Baths on Main. Mostly unfin Bsmt. Suite potential. Bring your renovation ideas! Approx. 9636 sqft lot! 7580 Lawrence Dr.
www.normflockhart.com “Servicing your Real Estate Needs since 1988”
Tony Quarto Looking for a New Brokerage? Receive the highest level of support from our experienced Managing Broker. NO FRANCHISE FEES THREE EXCELLENT FEE PLANS STRONG SUPPORT
Roloff Veld Managing Broker
Contact Roloff at 604-782-7327 or roloff@evergreenwestrealty.com 206-1120 Westwood Street, Coquitlam BC, V3B 7K8 T: 604 942 1389 www.evergreenwestrealty.com
778.882.9779
OPEN HOUSE SATURDAY 1-4 & SUNDAY 2-4 PM 431 Ewen Ave., New Westminster $1,380,000
Italian owner 5 big bedrooms up New landscaping including fence, gazebo, jacuzzi tub. Corner house, approx 2700 sqft.
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Quote on
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The Week in Real Estate
BURNABY & TRI-CITIES
Detached
Attached
54
HOME SALES*
Top sale price***
Median sale price** Attached
9
Detached
Attached
Detached
$546,540 $1,421,000
$1,042,000 $1,558,000
Active Listings†
Days on Market††
Attached
665
* Total units registered sold June 9-16 † Listings as of June 16
Detached
Attached
1,010
Detached
16
** Median sale price of units registered sold June 9-16 †† Median days of active listings as of June 16
30
*** Highest price of all units registered sold June 9-16
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Wynnbrook gives you single family home living in a parkside setting. Set between lush nature and the Albion Sports Complex, it’s the perfect location for active families. Enjoy football, soccer, baseball and a kids’ water park all within walking distance from your front door. Add to that open green space, easy highway access, great schools, and convenient shopping – perfect for today’s busy families.
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(Except Friday)
604.380.4708 | mstarhomes.com
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Sales Centre Open: Noon - 6pm
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POLYGON REALTY LTD., CQ-STANTON HOUSE 4.0000 x 972.00 R0011432943 4C
Close to it all.
TH M IS OV SU E I M N M ER
Artist’s rendering only.
Experience the best of modern living at Stanton House by Polygon. Situated in the growing community of West Coquitlam, this limited collection of one and two bedroom apartments is just minutes from schools, parks and Burquitlam Station – connecting you to downtown and the rest of the Lower Mainland.
NORTH RD
BURQUITLAM STATION
COTTONWOOD AVE
Two bedrooms from $569,900 SALES OFFICE 607 Cottonwood Avenue, Coquitlam, BC
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Open Noon to 6pm daily (except Friday) ED
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604.260.8446 | stantonhouse@polyhomes.com