BURNABY
FRIDAY, APRIL 17, 2015
NEW WESTMINSTER
info@rew.ca • 604-435-7977
Looking to BUY or SELL a home? To assist you in making the best decisions, a professional Realtor can provide the most up to date information on the real estate market, price, financing and comparative properties in your area.
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How the Transit Vote Affects Home Buyers and Property Values M
etro Vancouverites are heading to the polls – or, in this case, their nearest post box – as mail-in voting continues for the emotionally charged Transportation and Transit Plebiscite – aka “the congestion tax”. Although the question is how to fund transit improvements, the debate has rapidly become about whether people believe TransLink should be trusted with more funds. Many issues like impact on housing affordability have been largely ignored. Even getting both sides to agree on how much the new tax would cost has proved impossible. “Yes” supporters say the 0.5 per cent sales tax will take $125 per year out of the average household’s pocket. “No” supporters say it will be more than double that amount – $258 per year.
Property Purchasing Power So what’s the tax’s impact on ability to purchase a home – especially for cash-strapped first time buyers? The new tax will reduce income and therefore borrowing power – no matter which side’s estimate is correct. “At today’s mortgage rates of 2.69 per
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cent, if we take the higher estimate of $258, it would reduce a person’s home buying power approximately $5,400,” says Mark Belling, CEO of Fifth Avenue Real Estate Marketing. He stresses, however, this is more than offset by the costs savings of living close to regular, reliable transit. For the rapidly expanding demographic of urbanites who embrace a carless lifestyle, transit also opens the possibility of an immediate bottom line benefit. “The average parking stall costs $25,000 to $30,000,” notes Robert Grimm, principal of Portrait Homes. “That could mean the difference between a studio or being able to afford a onebedroom home.”
Will New Transit Push Up House Prices? Over the long term, most industry watchers agree housing prices will continue to rise throughout Metro Vancouver due to its geographical constraints. And there are precedents to suggest they rise more rapidly when improved transit arrives. According to an Urban Analytics report commissioned by the Onni Group just
Vancouverʼs Residential Building Permits Up 56%: StatCan
after the Canada Line was built, land values along the Cambie Corridor rose 19 per cent in the months leading up to completion. They climbed an additional 14 per cent in the first six months of operation – a 33 per cent increase in one year.
transit nodes like Marine Gateway, Metrotown or Brentwood allows more efficient land use – which means developers have the cost savings associated with economy of scale,” he says.
The Evergreen Effect
What about Immigrant and Offshore Buyers?
Further east, where the Evergreen Line is under construction, the Tri-Cities have shown steady but more moderate price increases, according to the Real Estate Board of Greater Vancouver. The rapid spike in prices many predicted would accompany the new SkyTrain line has failed to materialize. What has occurred is a construction boom that’s highlighting neighbourhoods like Burquitlam as a more desirable place to live. Howard Steiss, principal at Texor Homes, notes many buyers are attracted to the greater bang for their buck that’s possible when transit makes commuting easier. Although the new tax would add to the cost of construction materials, David Podmore, chairman and CEO of Concert Properties, points out this may not be as severe as it appears. “The higher density we see around
Overseas and immigrant buyers consider proximity to transit a must have. “Offshore markets are light years ahead of us in the way they look at transit,” says Bill Szeto, president of Otezs Project Marketing. “In any major Asian or European city, transit is the dominant way people move around.” However, Rolf Neufeld, managing director of credit structuring with Bank of Montreal, believes the vote will have little long-term impact. “Vancouver land values are going to keep rising regardless,” he says. “And there will be some transit improvements even if the vote is no.” So while Metro Vancouver awaits the results of the transit vote, Szeto makes a final comment. “Even 15 or 20 years ago, people asked why anyone would want to live next to the SkyTrain… now they ask why wouldn’t you want to live there?”
Listing on your Home Sale Expired? How to Get It Sold
Vancouverʼs Boomer Luxury Home Buyers Increasingly Urban: Survey
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R E W.ca » B U R N A BY / N E W W EST M I N ST E R » F R I DAY A P R I L 17, 2 0 1 5
www.dexterrealty.com 604-689-8226 Yaletown 604-336-3539 Main Street 604-263-1144 Kerrisdale $305,000
SMALL ECO-FOOTPRINT FUNCTIONAL & SPACIOUS one bdrm in GREEN. Built by award winning developer ADERA. 5 years new - this quality development is conveniently located in NATURAL SURROUNDINGS, yet only MINUTES to Edmonds SKYTRAIN station. Everything you can want in a home - small eco-footprint; sights and sounds of nature, serene & peaceful surroundings. Resort-like amenities in the SEASONS CLUB.....gym, yoga room, sauna, billiard room and well-appointed recreation room. Truly an enviable place to come home to. Fanny Wong 604-263-1144
507-215 TWELFTH ST
$245,000
OPEN SAT/SUN 12-2
★
$335,800
Luxury & Location in Burnabyʼs Social District
BEAUTIFUL 2 BEDROOM SUITE
RARELY AVAILABLE - This 3 BR townhome in the Buchanan is located in Burnabyʼs PREMIER residential, shopping, entertainment and social district, steps away from Brentwood Mall and skytrain Travel to downtown in 15 minutes, Commercial/Broadway in 7 minutes and YVR in 48 minutes. TH1-1889 ROSSER AVE. Teresa Leung 604-618-2128
NEW LISTING!
$315,000
GARDEN OASIS!
Discovery Reach by Bosa. Top floor unit with lots of updates. N.W. facing, open concept, parking, storage and more! The Go Team 604-263-1144
Corner 2 bed garden unit with 470+ Sq.Ft. fenced patio and private street access. Pets allowed, 2 parking. Walk to skytrain, bus and shopping. #205 - 210 ELEVENTH ST. The Go Team 604-263-1144
The Residential Realtor for Burnaby and Vancouver www.difrancesco.ca www.churchrealtors.com Over 2,000 homes sold in 29 years!
4536 NEVILLE ST.
Beautiful south facing private 2 bedroom suite facing green belt at Cascade Village. Large patio great for outdoor entertaining, tiled entry, fireplace and French doors on second bedroom. Excellent recreation facility and outdoor gardens. Quiet, peaceful neighborhood. 107-3950 LINWOOD ST. Harj Romi Rai 604-689-8226
$1,878,000
101-215 TWELFTH ST
LUXURY CUSTOM HOME
TOP FLOOR OASIS
Top Producer
Taking our Listings Global
Life Time Achiever
Beautiful custom home, built by experienced local builder, located in Burnaby South, right below Metrotown with gorgeous Southern view. Amazing finishings and top quality workmanship throughout the house. Top-of-the-line appliances; Sub-zero refrigerator, Wolf 6-burner stove, Miele dishwasher. Go Team 604-263-1144
$229,000
GARDEN OASIS S.W. facing garden level one bedroom in Discovery Reach by BOSA. Direct street access with private, fenced patio. 2 pets allowed. Go Team 604-263-1144
604-649-7040 LORI PETTIGREW
ALAN YASIN
www.YourRealtyDreams.com
DEXTER ASSOCIATES REALTY
QUIET 2 BEDROOM & DEN SFU VIEW HOME!
12224 Greenwell St., Maple Ridge
5645 Highfield Dr., Burnaby
Wow, clean Home with 3 bedroom up and two bedroom down on a large corner lot with a wrap around deck house has excellent potential lots of parking, parking for RV very quiet low traffic residential area, roof is approximately two years oldwith warranty. Home has natural gas connection perfect for summer barbecues. Great development opportunity. $419,000
Wow. 66 x 144 ft lot on the best quiet street in Capitol Hill, sweeping views of the ocean towards Indian Arm, Belcarra and the North Shore Mountains. You can touch the N Shore Mountains. Property backs onto green belt & trails going down to water front. Home is rented. Please allow 24 HR notice. $1,399,000
Unique 2 bed & den has 2 large balconies with views of mountains and trees. Shows like new with granite counter tops, s/s kitchen appliances. Versatile open layout. Solid concrete building. Gym. 1 parking. Close to SFU, transit & amentities. Call to view this amazing home! #607-9232 UNIVERSITY CRES.
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www.
OUTSTANDING AGENT
604-275-9787 patsy@patsyhui.com
7271 Gilley Ave., Burnaby • 44,000 sqft • C2 zoning • 20,000 sqft building operating as a church • Great development opportunity • Asking $14,000,000
AY
B D PU I N 1 S
D OL
401-1655 Grant St., Port Coquitlam
SO
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SOLD - 1 DAY ON MARKET • 2 bedroom/2 bathroom • Top floor corner unit • 1000 sqft
101-319 Governors Court, New Westminster Dublin's Castle Neighbourhood Grill - One of the finest pub restaurants in New Westminster has just been sold by Leonardo Di Francesco. • Large Patio • Seats 100 people
WESTCOAST
... OUTSTANDING RESULTS
53 Sales so far in 2015!
• 308 SALES AWARDS SINCE 1984 • REBGV LIFE MEMBER
POCO LIVE/WORK ECC CENTRE $1,168,000
1103 CONFEDERATION DRIVE Established 17-year EARLY CHILDCARE CENTRE in Citadel Heights, a young family neighbourhood requiring good daycare facility. Building has 5329 sqʼ of which 3690 sqʼ is for SCHOOL & 1639 sqʼ up for LIVING QUARTERS. 5635 SQʼ CORNER LOT provides plenty of parking. RUN YOUR OWN CHILDCARE BUSINESS & PAY YOUR OWN MORTGAGE INSTEAD OF RENT. Zoned residential. HUGE BARGAIN WITH BUSINESS INCLUDED.
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Get a great rate and a helping hand.
Open Sun 2-4
Open Sun 2-4
115-3770 Manor Street
S
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$257,800
Cascade West! Immaculate, above ground level 1-bdrm suite. Large private patio on quiet side of building. Beautiful updates: hardwood oors, complete bathroom reno, kitchen oor and kithen components. Perfect starter home or downsize. Close to transportation. Don’t miss this opportunity!
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LOOKING TO BUY OR SELL A HOME? To assist you in making the best decisions, a professional Realtor can provide the most up to date information on the real estate market, price, ďŹ nancing and comparative properties in your area.
Find your expert Real Estate professional right here in REW.ca!
Members Get It Mortgages TM
Members get more with Members Get It Mortgages. You’ll get a great rate and you won’t have to choose between your mortgage and saving. That’s because you’ll get $1,000 in Help Extras™ to put towards an investment like an RRSP or Tax-Free Savings Account.3 Then when it’s time to renew, more Help Extras will be on the way. For more information, call 1.888.517.7000, visit us online, or a Mobile Mortgage Pro can come to you.
1. Closed, residential ďŹ rst mortgages only. Interest rate and approval based on risk proďŹ le. Additional fees may apply. If fees apply, the Annual Percentage Rate (APR) could increase. Rates subject to change without notice. 2. Initial interest rate and APR, compounded monthly. 3. Some conditions apply for Help Extras. Contact us for details.
5200
RIZE P D N ckage, a p GR A e c n a
ol appli es Whirlpo pplianc or the Habitat for A t s a o s D BY C e home DONATE le at each of th ey Restore. er Vall availab ity Fras Tickets Human
THE FOLLOWING HOMES ARE OPEN ON SATURDAY MAY 2, 10 AM - 5 PM IN THE 1ST ANNUAL PARADE OF HOMES MEET THE BUILDERS, ASK QUESTIONS AND ENJOY REFRESHMENTS AND OF COURSE ENTER TO WIN THE GRAND PRIZE! These Fraser Valley builders will have their homes open to the public to be toured! Saturday, May 2, 10am-5pm Development Name
Address
Developer
Website
Sunridge
#6-50778 Ledgestone Place, East Chilliwack
www.mysunridge.com
Clayburn Creek Estates
35259 Straiton Road, Abbotsford
www.meinen.ca
Sunridge
#32-50778 Ledgestone Place, East Chilliwack
www.mysunridge.com
Langtry
#19-1640 Mackay Crescent, Agassiz
www.kingmabrothers.com
Harrison Highlands
Woodside Blvd, Agassiz
www.harrisonhighlands.ca
Summit Residences
47150 MacFarlane Place, Chilliwack
summitresidences.ca
Your dream home is waiting for you! www.paradeofhomesfv.com Thank you to the following sponsors
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R E W.ca » B U R N A BY / N E W W EST M I N ST E R » F R I DAY A P R I L 17, 2 0 1 5
* M ! O TH R F N N MO OW A 89 $8
Two Bedrooms from $ 269,900 In Beautiful South Surrey.
AT H A R VA R D G A R D E N S Discover South Surrey’s best value at Elgin House by Polygon. Located in the landmark masterplanned community of Harvard Gardens, enjoy the best of urban convenience with boutique shops, large retailers, restaurants, golf and top schools – all just moments away.
Two bedrooms priced from $269,900 3323 151st Street, South Surrey Open Noon to 6pm daily (except Friday) 604.541.8092 elginhouse@polyhomes.com *Available for a limited time only. See sales staff for details.
R E W.ca » B U R N A BY / N E W W EST M I N ST E R » F R I DAY A P R I L 17, 2 0 1 5
QUARTZ COUNTERTOPS STANDARD
TWO BEDROOM HOMES FROM
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66
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*Purchase a One92 home before May 31, 2015. This promotion is not to be combined with other promotions. See One92 Presentation Center staff for all details.
CO M RN O ER VE OF I HW N Y # NO 1& W 17 6T H
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Prices and promotions are subject to change and availability without notice. E.&O.E.
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HWY No.15 / 176 Street
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9989 Barnston Dr. East, Surrey
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DAL Y RD
SALES CENTRE AND DISPLAYS
100 Ave
Top ranked Schools Prime Hilltop Location with Views Quality finishing included in the purchase price Quick access to major highways Experience the difference today!
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R E W.ca » B U R N A BY / N E W W EST M I N ST E R » F R I DAY A P R I L 17, 2 0 1 5
EVERYTHING YOU NEED. JUST STEPS FROM HOME. One Town Centre is a rare, complete community with everything you need to live well just steps from home—a grocery store, café, bank, restaurant, shops and CLUB CENTRAL, a private fitness and aquatic centre. This is your first chance to be part of River District, Vancouver’s last and largest waterfront neighbourhood, with over a mile of shoreline and 25 acres of open, public green space. It’s completely incredible.
GRAND OPENING MAY 23 CALL NOW FOR A PRIVATE APPOINTMENT
VANCOUVER
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THIS IS YOUR FIRST CHANCE TO OWN IN VANCOUVER’S LAST WATERFRONT NEIGHBOURHOOD!
KINROSS ST
1 BEDS FROM $269,900 2 BEDS FROM $399,900
KERR STREET
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BURNABY
3302 NORTH ARM AVE (at the foot of kinross)
MARINE WAY
RIVER DISTRICT SALES CENTRE
SALES CENTRE AND DISPLAY SUITE ARE OPEN BY APPOINTMENT ONLY
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RW AY
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Prices are subject to change without notice. This is not an offering for sale. One can only be made by way of a disclosure statement. E.&O.E.
R E W.ca » B U R N A BY / N E W W EST M I N ST E R » F R I DAY A P R I L 17, 2 0 1 5
CONDOMINIUM HOMES IN BURNABY HEIGHTS
· 8 EXCLUSIVE HOMES · TWO BEDROOMS AND TWO BEDROOM PLUS DEN · OLD WORLD MEDITERRANEAN AMBIANCE · PRIVATE TOURS NOW AVAILABLE
BUILT WITH A HEART FOR THE NEIGHBOURHOOD censorio.com
FOR INFORMATION CALL 604.662.8009 (EXT. 250) OFFERED BY APPOINTMENT ONLY 4721 HASTINGS STREET, BURNABY, BC PLEASE CALL FOR PRICING This is not an offering for sale. Prices exclude taxes. The developer reserves the right to make changes to the pricing, incentives, floor plans and specifications without notice. E. & O.E.
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BURNABY • NEW WESTMINSTER
FRIDAY, APRIL 17, 2015
Looking for a new home? Start here.
R E A L
E S T A T E
W E E K L Y
CITYHOMES OFFERS
LUXURIOUS AND DISTINCTIVE
Tsawwassen Living
There’s a new project coming soon that is set to change the way people think about Tsawwassen living. Century Group introduces CityHomes, a boutique-style masterplanned community offering distinctive homes that are similar to townhouse living. Instead of going into a lobby and sharing communal hallways to reach your home, these one-, two- and threelevel residences, ranging from 700 to 1,900 square feet, all feature their own private entry. “This is a whole new and exciting style of living,” says Doug Lucier, marketing and sales manager, Sutton Group Seafair Realty. CityHomes is a stunning collection of 41 low-rise West Coast-style character residences showcased by natural stone, stucco, HardiePlank accents and fully landscaped yards and communal courtyard. Nestled along a tree-lined street, CityHomes fit seamlessly into a quiet community in the heart of sunny Tsawwassen. The exclusive design offers the perfect blend of urban and rural living. Minutes from your new home, you’ll love the lifestyle and sense of community that comes with having fabulous boutique shopping and services at your doorstep. Each open-concept home comes complete with its own secure underground parking stall and minimal maintenance to worry about.
“Many of the three-bedroom homes will have two parking stalls,” adds Lucier. Inside, the homes promise finishes that will inspire. From the luxurious hardwood flooring to the nine-foot ceilings and lofts, to the gourmet inspired kitchens with quartz countertops and Energy Star KitchenAid stainless steel gourmet appliance package and stunning soft-close cabinetry, everything speaks to sophisticated and elegant living. “Right now, choose from two professionally designed colour palettes – Sandcastle and Beach,” says Lucier, adding that some of the patios or decks are perfect for entertaining family and friends. Living at CityHomes puts you in the middle of everything. Located in thriving heart of Tsawwassen, where small town life still exists with friendly people and a charming downtown core, CityHomes greets you with a walkable neighbourhood close to protected parklands, recreational activities, walking and cycling paths. Shopping and dining is handy too, just a short drive away. Everything is on your doorstep, including being only a short drive to the ferries. Meanwhile, you are only 20-minute drive from Vancouver International Airport, half an hour from downtown Vancouver and for shoppers bound for Bellingham and Seattle, the US border is just 30 minutes to the south. Direct access to transit and the highway
takes away some of the stress of daily commuting. For those passionate golfers, there are five golf courses within a very short distance away. CityHomes comes to you from awardwinning Century Group. For more than five decades, Century Group has become synonymous with creating neighbourhoods that people want to live, work and play in. Defined by walkable streets connected to natural landscapes, the developer is renowned for communities that offer the best in lifestyles for today’s busy urbanites. With all that CityHomes has going for it and with prices for a two-bedroom starting from under $360,000, the best part of CityHomes is calling it home!
In Print > Online > It’s All Here
The CityHomes presentation centre and two fully decorated display homes, located at 1708–55A Street (at 18 Avenue) Delta, will open in May. For more information or to register, call 604-948-2345, email info@cityhomesnorthgate.ca or visit www.cityhomesnorthgate. ca. Tentative occupancy is slated for fall of 2015.