THURSDAY, AUGUST 25, 2016
VANCOUVER EASTSIDE
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R E A L E S TAT E W E E K LY
Home Sales Down in 60% of Canadian Markets, Mirroring BC’s Trend: CREA N
ational home sales fell 2.9 per cent year over year and by 1.3 per cent since June, according to Canadian Real Estate Association (CREA) figures released August 15. Greater Vancouver and the Fraser Valley saw the biggest declines, but the CREA reported that sales were down from levels one year earlier in about 60 per cent of all Canadian markets, with Calgary and Edmonton following on the heels of the Lower Mainland markets. Despite this, the national MLS® Home Price Index (HPI) rose 14.3 per cent yearover-year in July and the national average sale price climbed 9.9 per cent from one year ago to $480,743. “Home sales continued to trend lower while price gains further accelerated in the
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Lower Mainland of British Columbia,” said Gregory Klump, CREA’s chief economist. “This suggests that sales are being reined in by a lack of inventory and a further deterioration in affordability. “The new 15 per cent property transfer tax on Metro Vancouver home purchases by foreign buyers took effect on August 2, so it will take some time before the effect of the new tax on sales and prices can be observed. That said, the new tax will do little in the short term to increase the supply of homes.” Across BC July home sales across the whole of BC fell a modest 3.4 per cent year over year, according to British Columbia Real Estate Association figures released
Collateral Damage: Unfortunate Tales of Foreign Buyer Tax Fallout
August 11 – far less steeply than in the major centres of Greater Vancouver and the Fraser Valley. “Housing demand has moderated in many regions of the province, after setting records earlier in the year,” said Cameron Muir, BCREA chief economist. “The less frenetic pace of home sales will likely provide a much needed boost to the inventory of homes for sale. The rate of home price appreciation is also expected to slow from the unsustainable level exhibited this spring.” Greater Vancouver and the Fraser Valley, which last week reported sales declines of 18.3 and 10.4 per cent respectively, dragged down BC’s overall figures, offsetting significant year-over-year home sales increases in Victoria, Vancouver
Now is the Best Time to Buy a Vancouver Home in Two Years: Agents
Island and the Okanagan. Broken down by area, out of the major centres (where the statistics are less volatile), the Okanagan Mainline board reported the largest year-over-year increase in home sales, up 25.1 per cent over last July to 1,042 transactions. This was followed by Victoria, up 21.3 per cent to 922 sales, and Vancouver Island, up 18.9 per cent to 1,030 units. Despite the slight overall sales decline across the province, average prices in BC were up 9.1 per cent year over year to $663,411, resulting in the total dollar volume of home sales in July rising 5.4 per cent on an annual basis to just short of $6.6 billion. However, this figure was an uncharacteristic decline over June 2016’s $694,925 average price.
Editorial: Policymakers, Beware Side-Effects of Affordability Measures
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R E W.ca » VA N COU V E R E ASTS I D E » T H U RS DAY AUGUST 2 5 , 2 0 1 6
NORM FLOCKHART
PREC
(604) 261-7275
Welcome Home
13 Year Member of MLS Medallion Club
OPEN SAT/SUN 3-5!
$1,479,000
3 BDRM FAMILY HOME! SUNNY CORNER LOT! Clean & tidy family home w/ 3 BR's & 1 Bath on Main. Fir floors under carpets, eat-in kitchen, & conservatory at the back. Inside or outside access to the ground level Bsmt. Rec rm, bar, den, 3 pce bath, laundry & storage. Easy to suite. 1003 East 38th Ave.
OPEN SAT/SUN 1-3!
$1,379,000
Only available until September 30**
3 BR's & DEN! QUIET, TREE-LINED STREET! *Some conditions apply. The Annual Percentage Rate (APR) is for a mortgage of $100,000 with monthly payments and a 25-year amortization, assuming no fees apply. If fees and/or charges apply, the total Cost of Credit and APR would increase. This promotion is subject to member(s) being approved by Prospera Credit Union’s lending guidelines. Limited time offer. **Mortgage must be approved by September 30, 2016 to qualify. Offer and rate may be changed, extended, or withdrawn at any time without notice. Available O.A.C.†Prospera will reimburse up to a maximum of $1,000 the discharge fee charged by the member’s current financial institution and/or any new legal and appraisal fees. For full details on the myStyle mortgage and Prospera Perks, please visit www.prospera.ca, talk to us at a branch or call 1.888.440.4480.
1930 Home features lots of original woodwork, brick-faced fireplace, & high ceilings on Main. Easy to suite the unfinished Bsmt. Upgraded wiring & panel. 33' x 98' Lot. Still work to be done, but super location! 5251 St. Catherines Street.
www.normflockhart.com
GORDON DUTKA 604.760.9295 Multiple Realty Ltd.
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gordon.dutka@gmail.com
2298 Kingsway, Vancouver V5N 5M9
OPEN HOUSE AUG 27 & 28 2-4 PM 2425 Cassiar Street, Vancouver • $2,399,000
Magnificent custom-built home in the popular Renfrew neighborhood. Beautifully maintained and crafted with no expense spared, this 2 storey & basement home features a 3 bedroom + den open living plan with the master + ensuite on main, plus 3 rental suites with separate laundry and entry (2 Bed, 2 Bed, Bachelor) generating huge income (call for details). On a quiet street, this corner property features a private south exposed backyard and views of East Van. Close proximity to Rupert Station, easy access to Lougheed and Hwy 1, and a short bus trip to UBC - all the benefits of luxury and location. Includes radiant heating, cement roof tile, central vacuum, custom doors and cabinets, lane access, S/S appliances, and gazebo with double garage just to name a few. Open House Sat. & Sun. Aug. 27 & 28 2-4PM.
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R E W.ca » VA N COU V E R E ASTS I D E » T H U RS DAY AUGUST 2 5 , 2 0 1 6
“Your East Vancouver Real Estate Experts!” NEW LISTING
$2,999,900
Lisa MacIntosh
Diane Kunic-Grandjean
KITSILANO'S TATLOW PARK 4 LEVEL 1912 CHARACTER HOUSE WITH 3 SUITES! 7 BED - 3 BATHS - 3360 SQFT Unique 1912 four level Character home North of 4th at Tatlow Park in Kitsilano! Come discover 3 sizeable, comfortable suites comprising of a 3 bed garden level (847 sqft), 1 bed & den on the main floor (976 sqft) and an owner-occupied eclectic top 2 level 3 bedroom suite of 1537 sqft! In-suite laundry on each floor, lots of mechanical updates over the past 28 years, this Grande Dame offers not only an inviting private front yard for your al fresco dinners, but a large enclosed backyard & decks on each level from which to take in the North shore views. This part of 3rd now being a cul-de-sac, you'll come for the quietness but will stay for the funkiness of this lady in pink & ease of access to a secluded beach via beautiful Tatlow park. 2831 W. 3RD AVE.
STEPS AWAY FROM TROUT LAKE, SOUTH FACING 1925 CRAFTSMAN BEAUTY IN THE HEART OF FRONT ½ DUPLEX - 3 BED UP, 2.5 BATH & DETACHED GARAGE KITSILANO – 4 BED, 2.5 BATH W/LEGAL SUITE 1785 E.14TH AVE.
$1,149,900
This is not your usual South facing ½ duplex: step inside to a well-laid out floor plan offering a refreshingly expansive living room with fireplace, a dining area able to host numerous guests & a wonderfully appointed kitchen with shiny white cupboards, s/s appliances & beautiful black granite countertops. The top floor will wow you with its 3 bedrooms & 2 bathrooms of unusually ample size – especially the master bed & its ensuite! Fantastic amount of natural light throughout, storage galore & a powder room on the main floor. BONUS: detached garage turned into a storage & office space! Feel right at home with its Westcoast flair, covered porch, large front garden and a short walk to Trout Lake & its Farmer’s market.
VERY UNIQUE 1 BEDROOM CORNER UNIT OF 702 SQ.FT. W/ FANTASTIC & PRIVATE OUTDOOR SPACE! 107-925 W. 15TH AVE.
$484,900
Set on the quiet North East corner, this 720 sq.ft. split-level 1 bedroom shares only one wall with its neighbor & is sure to impress you with a functional U-shaped self-contained kitchen, sizeable bedroom offering 2 closets & a window overlooking your very own deck. Step up to a sun-filled open concept space with beautiful Brazilian hardwood flooring throughout, a dining area easily hosting 10 people without forgetting an ample living area with a woodburning fireplace. UNIQUE BONUS: your very own private semi-covered wrap-around deck of nearly 300 sq.ft. overlooking the yard of a house! Where do you get this in the city? Insuite laundry, 1 parking, 1 cat or 1 dog (max 40lbs). All balconies done & depreciation report available. A delight to show!
3444 W. 5TH AVE.
$2,950,000
Sitting across from McBride Park in the heart of Kitsilano, this 1925 Craftsman offers yesterday's cachet with today's comfort. Beautifully restored character home with all of the original Fir trim work lovingly refinished. The foyer's wainscoting sets the tone for the main floor: a spacious front reading room/den, a large living room with fireplace opening onto a dining room designed for entertaining. In the mood for a BBQ? Open your French doors and step onto your gigantic South facing deck! Upstairs offers 3 sizeable bdrms, the front bdrm has a unique attached crafts room. BONUS-a full height basement with a self-contained 1 bdrm suite (done with permits) with its own south facing patio. The front & back gardens are enjoyed from every window, creating an Urban Oasis on this 46x120 lot.
TROUT LAKE & THE DRIVE – FANTASTIC FRONT ½ DUPLEX - 3 BED & 2.5 BATH! 1656 East 13th Avenue
$1,149,900
Fabulous front 1/2 duplex on a 33x127 lot, a stone throw away from Trout Lake and The Drive! It has it all: 3 spacious bed on the upper floor, including a master bed with large window with North Shore Mountain views, a newly renovated en-suite and 2nd full bath with jetted tub. The main floor offers a unique layout: very airy, spacious living room with substantial ceiling height, gas fireplace and a bay window overlooking the front yard. Sizeable dining area easily welcoming a party of 8, adjacent to a well-appointed U-shaped kitchen with plethora of storage and granite countertops. Separate large pantry-laundry room. Enjoy the front & side gardens which sizes can rival that of a house. New windows throughout, new fence & front stairs. Transit, Restaurants, Fun, Parks all at your doorstep. This is East Van living at its best!
L i s a M a c I n t o s h Te a m - D e x t e r A s s o c i a t e s R e a l t y Medallion Club - Top 10% of Realtors in Greater Vancouver Photos & Visual Tours at: www.lisamacintosh.com Email: lisa@lisamacintosh.com Tel: 604-263-1144
www.dexterrealty.com
604-689-8226 Yaletown 604-336-3539 Main Street 604-263-1144 Kerrisdale 5168 RUBY ST
$1,328,800
A solid and well maintained home from the 1950's. This home is in very good shape and would make a great starter home or rental investment (suite potential). A large lot size for the area (50ʼx103ʼ). Rezoning in the Joyce / Collingwood area for higher density would make this a good holding property for future redevelopment. Quiet street close to major shopping and transportation. ROBIN HILL & GRACE KREYKENBOHM 604-340-4000 778-998-4523
104 – 228 E14th Ave
Taking our Listings Global $599,000
WATERFRONT LIVING!
$365,000
RENOVATED VIEW CONDO FABULOUS PATIO
★
OPEN SAT/SUN 2-4PM HUGE GARDEN PATIO!
• Unbeatable location! • A new life? • A new relationship? • A new baby? • Rarely available! Philip Rogers 604-808-4623
Waterfront VIEW condo along the Fraser River! Spacious 1 bed with huge patio and lots of modern updates! In-suite storage, laundry, parking. Well-maintained RAINSCREENED freehold building with resort style amenities! Steps to transit, parks, river walkway. A Must see! Call to view. 108-2020 E.KENT AVE S. LORI PETTIGREW & ALAN YASIN 604-649-7040
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R E W.ca » VA N COU V E R E ASTS I D E » T H U RS DAY AUGUST 2 5 , 2 0 1 6
.com
www.
OUTSTANDING AGENT
604-275-9787
105 Sales so far in 2016!
patsy@patsyhui.com WESTCOAST
... OUTSTANDING RESULTS
RECIPIENT OF RE/MAX LUMINARY OF DISTINCTION AWARD
$1,899,000
6-BDRM 2-LEVEL HOME
6688 CULLODEN STREET Lovely 2204 sqʼ BRIGHT & SPACIOUS family home in desirable SOUTH VANCOUVER location. 9ʼ ceiling on main floor. MAPLE FLOORING in living & dining room. MAPLE CABINETS & GRANITE COUNTERTOPS in kitchen. Gas fireplace in living room. TILE ROOF & RADIANT HOT WATER HEATING THRU-OUT. 3 bedrooms, 2 full baths on main. Downstairs has a 1-BEDROOM SUITE & 2-BEDROOM SUITE WITH SEPARATE ENTRANCE. Close to transit & schools. A pleasure to show!
Monet TYLER monet@monettyler.com
West Real Estate Services
2015
#10 Royal LePage Realtor in BC 2015 #1 Royal LePage Realtor for Tricities in 2015
604.763.4307
❚
2015
❚
www.monettyler.com
SOLD 107 Linden Court
$1,428,000
4 Aspen Court
$1,498,800
121 Fernway Drive
$1,058,000
116 600 Klahanie Drive
$483,800
Visit our Website to see all our Listings 3372 DON MOORE DRIVE • BURKE MOUNTAIN
7006 KITCHENER STREET • SPERLING - DUTHIE
Beautifully Landscaped Family Home
Hold, Renovate or Build Your Dream Home
Outstanding 3 level family home in terrific Burke Mountain locale! Elegant principle rooms with high ceilings, updated kitchen with custom cabinetry, lovely west-facing sundeck & stunning backyard with lush gardens.
Lovingly maintained family home on a 7,560 s.f. property in desirable Burnaby North neighbourhood. Close to shops & amenities plus near great schools: Lochdale Elementary, Burnaby North Secondary & SFU.
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6,604 s.f. Lot 3,115 s.f. Home 5 Bedrooms 3.5 Bathrooms Over-height Ceilings
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Gas Fireplace Legal Suite West-facing Backyard 2-5-10yr Warranty 2 Car Garage
New Listing
$1,388,000
Sell for TOP DOLLAR with Managed Market Pricing Strategies
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60’ x 126’ Lot 1,653 s.f. Home 3 Bedrooms 1 Bathroom Hardwood Floors
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$1,688,000
New Listing
Open Saturday & Sunday 2:00 – 3:00pm
Wood fireplace Terrific garden S. Facing Backyard Single Carport Grt Neighbourhood
3387 WATKINS AVENUE • BURKE MOUNTAIN Gorgeous Family Home Beautiful 3 level family home in sought-after Burke Mountain community with spacious, open concept living, 3 bedrooms up & custom basement layout. Close to amenities, parks & trails. 2-5-10 year warranty.
Receive your up to the minute FREE Home Evaluation by going to:
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faithwilsongroup.com/eval Open Sunday 2:00 – 4:00pm
31.72’ x 117.56’ Lot 3,155 s.f Home 4 Bedrooms & Den 3.5 Bathrooms Soaring Ceilings
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GE Appliances Air Conditioning 2 Sets of Laundry Private Backyard 2 Car Garage
$1,295,000
R E W.ca » VA N COU V E R E ASTS I D E » T H U RS DAY AUGUST 2 5 , 2 0 1 6
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R E W.ca Âť VA N COU V E R E ASTS I D E Âť T H U RS DAY AUGUST 2 5 , 2 0 1 6
Parkside Living For Active Families 6 HOMES SOLD LAST WEEKEND - PRE-SALE OPPORTUNITY ON NOW
Visit Wynnbrook Today to Experience the Ultimate in Parkside Living. 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, coffee shops, eateries and groceries, making this neighbourhood the perfect fit for today’s busy families. Wynnbrook’s 3 & 4 bedroom family homes are all 3 storeys above ground which means that even your basement will be bright and light. Most homes will back onto green space giving you additional privacy and are landscaped and fenced.
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R E W.ca » VA N COU V E R E ASTS I D E » T H U RS DAY AUGUST 2 5 , 2 0 1 6
Beautiful spacious cottages in a natural setting, an exclusive clubhouse with pool, and abundant recreational possibilities makes Bridal Falls a one-of-a-kind resort ownership opportunity in Canada
IF YOU’RE READY TO DOWNSIZE, BUT NOT READY FOR A CONDO, OR LOoKING TO PURCHASE a second home getaway, WE have it all. COTTAGE SHOW HOMES OPEN DAILY 11 - 4 53480 BRIDAL FALLS RD, BRIDAL FALLS, BC 604.745.4104
224,900
DiscoverBridalFalls.com
Intelligent living BY ZENTERRA DEVELOPMENTS
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VANCOUVER EASTSIDE
THURSDAY, AUGUST 25, 2016
Looking for a new home? Start here.
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BRIDAL FALLS RESORT: COTTAGES AND LOTS AT SPECTACULAR VALUE Now is the perfect time to snap up a brand new cottage on its own lot, surrounded by stunning scenery
W
ith the hot real estate market extending from Vancouver in 2016, the impact on Chilliwack and Bridal Falls RV Cottage Resort has been significant. Valley residents have been snapping up cottages at record rates in this unique offering of a detached cottage on a private lot. “With the detached home price increases we have seen in Chilliwack this year, a brand new cottage in our resort stacks up as a tremendous value. When you consider the clubhouse, pool and other amenities the lifestyle opportunity for downsizers becomes a key factor in the decision to buy,” says Ron Sturm, owner/partner in the resort. “Right now we can offer a great selection
of the various lots in Phase 1, which have the best price and value, but that will not last much longer. Now is the best time to get involved.” Bridal Falls’ two-bedroom, two-bathroom plans are the country’s largest manufactured park model cottages, appealing to downsizers who have spent a lifetime living in a house and are not ready for a condo’s elevators, hallways and common living spaces. The resort’s amenities are anchored by an impressive 12,000-square-foot log cabin clubhouse that features a 50-seat private theatre, gym, game and card rooms, lounge, dance floor, library area and event facilities for weddings or business conference use. “There is also a 2,000-plus-square-foot sun deck overlooking the gardens, pool and hot-tub deck,” adds Sturm. Bill and Linda Nokes were sold as soon as they visited the resort. “When we saw the show cottage and how beautiful the setting was, we decided we wanted to live here full time,” says Linda. “We’ve been in resorts in
Phoenix, Arizona and throughout California, but we had never seen such gorgeous cottages along with all these amazing amenities. We were also impressed with the price, by far the best value compared to anywhere else in B.C.” The cottages feature fully covered decks, natural gas, a stainless steel kitchen appliance package and bedrooms with built-in storage. (Upgrades include a washer and drier, skylights and sliding patio doors.) Bridal Falls RV Cottage Resort is a yearround community where buyers have the option to live full time, lock and leave for part of the year, or put their cottage in the fully managed rental program. “We are the only year-round resort development in North America to offer 100-amp service, cable and natural gas to every lot,” says Sturm. “But what distinguishes us from other cottage resorts is our location at the centre of the Fraser Valley recreation hub, only minutes away from everything.” Bridal Falls is a Mecca for the outdoor
enthusiast. You are minutes away from numerous lakes, including Cultus, Chilliwack and Harrison; the Fraser River with its world famous fishing, as well as golf courses, parks and the Bridal Falls Waterslides. In addition, you can bike or hike the many local trails or meander the Cheam Lake bird sanctuary. “There is salmon, sturgeon and fly fishing on the Fraser River, which is only five minutes away,” says Sturm, adding the staff can assist with guided fishing tours. You can own a brand new cottage starting from $229,900 plus tax. The Bridal Falls RV Cottage Resort Presentation Centre and Show Cottages are located on Cheam Road, in Bridal Falls, open daily from 11am to 4pm. Book a viewing – and bring your bathing suit, as everyone is welcome to cool down with a swim! For more information or to book a private viewing, call 604-745-4104, email info@discoverbridalfalls.com or visit www.discoverbridalfalls.com.
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