THURSDAY, JUNE 9, 2016
VANCOUVER EASTSIDE
info@rew.ca • 604-435-7977
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Be Wowed by Spectacular Renos and New-Builds at the
2016 Parade of Renovated and Custom Homes
H
ighlighting spectacular home renovations and gorgeous newly built homes is the annual Parade of Renovated and Custom Homes, taking place Sunday June 12. The one-day, self-guided tour organized by the Greater Vancouver Home Builders’ Association includes 16 stunning properties located across Metro Vancouver. They range from a luxurious, contemporary, 6,000-square-foot whole-house reno including a steel-and-glass staircase in West Vancouver to a lavish custom-built Mexican-style villa in South Surrey, and many more besides. “We felt including custom homes better reflected Vancouver’s current housing market and the work of our members,” said Bob de Wit, CEO of GVHBA. “Whereas a few
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REW.CA /NEWS TO READ THESE STORIES AND MUCH MORE REAL ESTATE NEWS AND ADVICE
years ago renovators were commonly quoting on smaller scale projects, today, homeowners sitting on new found real estate wealth are looking at complete home renovations and custom built homes.” At each of the 16 properties, the design-build teams will be on site to talk visitors through the projects and offer their expert advice to those who are looking to do their own home renovations or custom builds. Other highlights of the 2016 Parade include a 20-foot Eclipse and Tilt-and-Slide door that brings outdoor living into a Burnaby kitchen, an absolutely enormous kitchen island that will take your breath away in North Van, an artisan-inspired designer’s home in New Westminster and a Built
Green-certified custom home in Vancouver. Not all the properties are huge – there’s also a superbly laid-out 900-square-foot two-bedroomand-den Vancouver laneway home for smaller-budget inspiration. Also included are four projects currently under construction, giving Parade-goers the chance to
Metro Vancouver Home Prices up Nearly 30% Since Last May: Board
look past the fabulous finishes and delve into the know-how behind these projects. “Renovation and custom home building is as much a science today as it is about craftsmanship and design,” said de Wit. “All the comfort we have come to expect from our homes is supported by building science. I encourage anyone considering a home renovation or custom home build to take this opportunity to meet the builders and see first-hand what goes into a project. Our Parade is as educational as it is inspirational, and I am confident consumers will be just as wowed by what is behind the walls as the state-of-the-art design finishing.” Admission is by passport, avail-
No Housing Affordability Without Vastly Improved Transit: Bob Rennie
able at each home for $10 per person (children 17 and under are free). Passports can be purchased at any home, and then used for entry to the remaining homes. A portion of the proceeds from passport sales will help fund the purchase of tools, building materials and safety gear for a carpentry training program offered by Guildford Park and Frank Hurt secondary schools in Surrey. Viewing time is limited to between 10am and 4pm, so plan your own personal parade before heading out. Go to www.gvhba.org for map, photos and location details.
Editorial: Vancouver Home Buyers Beware the FOMO Factor
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R E W.ca » VA N COU V E R E ASTS I D E » T H U RS DAY J U N E 9, 2 0 1 6
Bob Bracken
604.263.2823
bobbracken.com bob@bobbracken.com
Real Estate Services Each office independently owned and operated.
410-650 W 41ST Avenue, Vancouver, BC V5Z 2M9
Real Estate Investment Think Bob Bracken
CITY HALL MULTIFAMILY BUILDING ON BIG LOT NEW LISTING!
MOUNT PLEASANT LEGAL TRIPLEX
City Hall Multifamily Building!
4+ UNITS!
• Big 4361 SF, Excellent Multiplex Bldg • 4+ Suites, 4 Levels, Lots of Character • Wood Floors, High Ceilings, Stained Glass • Income $91,000/yr with rental upside • 1X1 Bdrm, 2X1 Bdrm & Den, 2X2 Bdrm Units • Larger 50’ X 125’ RT-6 Lot with rear Lane • Signature Investment Property • Owners great place to live w Cashflow • Developers potential T-Hse, Coach Hse • Near Cambie Shops, Transit, Skytrain • Investors, Owner-Occupiers, Developers
225 WEST 15TH AVE
• Asking $3,788,000
INCOME!
628 EAST 12TH AVENUE
LOVELY FAMILY HOME PLUS 2 SUITES 3 UNITS!
Family Home Plus 2 Suites!
SOLD!
2641 EAST 10TH AVENUE
• Very Nice Family Home with 2 Suites • Lots of Accom and Mortgage Help • Main and Top Floors have 4 Bdrms • Down 1 X 1 Bdrm & Bachelor Suites • Both Suites rented to 1 Tenant • Opportunity to add Income & Value • Great Condition, great yard, patio • Nice quiet tree-lined street • Close to Commercial Dr Amenities • 3 Open Parking at rear of property • Investors, Owner-Occupiers • Asking $1,399,000
LEGAL TRIPLEX!
Mount Pleasant Legal Triplex! • Big 4 Lvl Multifamily Bldg, 2728 SF • 2X1 Bdrm, 1X 2 lvl 3 Bdrm Suites • Good Condition, Mountain Views • Income $4,000/mo, $48,000/yr • Rental upside, Coin Laundry • 33’X122’ RT-5 Lot, high off street • Open Parking for 3 Cars off lane • Great Tenants, fenced rear yard • Mount Pleasant Neighbourhood • Close to Shopping, Transportation • Investors, Owner-Occupiers • Asking $1,498,000
MOUNT PLEASANT 3 SUITE HOUSE NEW
3 UNITS!
LISTING!
2540 ST CATHERINES STREET
Mount Pleasant 3 Suite House! • 1X4 Bdrm,1X2 Bdrm & Bach Units • Income $4,140/mo or $49,440/yr • With Rental Upside, 2143 SF • Tenants pay Utilities • Opportunity to add Income & Value • Quiet tree-lined street • Near Vancouver Community College • Near Vancouver bicyle route • Near restaurants, shops, transit • Area of High Rental Demand • Investors, Owner-Occupiers • Asking $1,299,000
HOUSES DUPLEX TRIPLEX 4PLEX 5PLEX 6+ UNITS APARTMENT BUILDINGS DEV SITES
Patricia Lok
604.839.3871
patricia@patricialok.com
New Listing
Select Proper es Independently Owned and Operated
$1,950,000 2068 East 2nd Ave. Open Thursday 6-7 & Sat & Sun 2-4 Beautifully, completely renovated character home. Lovely family home with 3 bedrooms, 2 bathrooms up, family room and 2 mortgage helpers down. 33x122 southern lot with 2 car garage. Walking distance transit, schools and Commercial Drive shops, cafes, and restaurants. A rare find in this sought after neighbourhood for a move in ready home! .com
www.
New Listing
OUTSTANDING AGENT
604-275-9787 patsy@patsyhui.com WESTCOAST
'O' WKND 2:30-3:30 PM
... OUTSTANDING RESULTS
91 Sales so far in 2016!
RECIPIENT OF RE/MAX LUMINARY OF DISTINCTION AWARD
$1,899,000
6-BDRM 2-LEVEL HOME
6688 CULLODEN STREET Fairview $1,078,000 Kitsilano $629,000 954 West 7th Ave #202-2468 Bayswater Enjoy False Creek, city and mountain VIEWS from your spacious balcony and family room. 3 level 1243 sf 2 bedroom/2 bath and family room in sought after Fairview slopes location. Steps to Charleson Park, seawall, transit.
Fabulous Kitsilano location at the Bayswater built by Mosaic Homes. Stylish 681 sq.ft. 1 bedroom that is beautifully finished. Large 140 sq.ft. balcony, perfect for entertaining. By appointment.
Lovely 2152 sqʼ BRIGHT & SPACIOUS family home in the most desirable 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. Basement has a 1-BEDROOM SUITE & 2-BEDROOM SUITE WITH SEPARATE ENTRANCE. Close to transit & schools. A pleasure to show!
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Over 35 years of experience in selling and custom building houses in B.C. 15 years Diamond Master Medallion Club Member, Top 1% President Club Award of All Realtors in Real Estate Board of Greater Vancouver.
BALDEV SANDHU & JULIANA HO TEAM Top New Home Construction Award
Free Market Evaluation. Sell your house fast. Buyer with Cash looking for building lot. Custom build your dream house.
Diamond Master Medallion
BALDEV SANDHU 604-880-9571
JULIANA HO 778-869-9688
ROYAL PACIFIC
www.BaldevSSandhu.com DaveSandhu@royalpaciďŹ c.com
MASTER
www.JulianaHo.com Juliiho@gmail.com
R E A LT Y
Vancouver East, Grandview
Vancouver East, Collingwood
Brand New Duplex, back unit
SxS Duplex, 2-storey with basement under construction
Vancouver East, Victoria Presale, Build to Suit - 3 storeys plus LWH
5508 Dundee Street and 5502 Dundee Street 1785 E. 15th Avenue - A quality built 2000 sf duplex NEW LISTING $1,198,000 A brand new duplex, back unit is NEW LISTING under construction just finished at a desirable area of - 3 bedrooms above, living room, Grandview neighbourhood. This dinning room, kitchen, 2-storey, 1206 sf unit with detail 2 bedroom suite in basement - 3.5 bathrooms, granite finishing and mordern design; countertop, maple wood living area, dining area, kitchen, 3 cabinets, hardwood floor, bedrooms at above, 2.5 bathroom, HRV system, inter-telecom OPEN HOUSE SUNDAY 2-4 PM granite counter top, single garage. 5508 - $1,263,000 5502 - $1,299,000 Single garage
Vancouver East, Collingwood $1,228,000
$2,250,000
- A fabulous South facing in Victoria area - Total area 3250 sf on lot size 33 x 118.50 2 storey with basement plus LWH - Granite counter top, maple wood cabinets - Radiant heat, HRV and security system - Buyer to provide own plan & choice are welcome
Vancouver East, Collingwood
Vancouver East, Collingwood
Vancouver East, Renfrew
Duplex lot for sale 5651 Earles St Vancouver
Single family in 2 storeys
Presale, Build to Suit, 3 storeys plus LWH
Side by Side Duplex, 2 storey w/bsmt under construction
2359 East 41 Avenue
2073 East 27th Avenue
NEW LISTING
NEW LISTING
5512 Dundee Street
$3,200,000
NEW LISTING
2165 Rupert Street
$950,000
NEW LISTING
$1,950,000
- A south facing S x S 1/2 duplex, 3-storey, spacious 1975 sf with finest built - 5 bdrms, living room, family room & kitchens - Granite countertop, hardwood floor, maple wood kitchen cabinets
OPEN HOUSE SUNDAY 2-4 PM
- Radiant heat & HRV system, high efficiency heating system, garage
Builder or investor alert ! A duplex lot, RT11 zoning, lot size 60 x 117 ft, ready to build 4 duplex each 1500 sf, building plan already submit to the City for approval. Existing is an very beautiful 10 years new house. Good to keep and build later. Don’t miss!
604.729.7049
2528 East 19th Avenue
SOLD
$ 1,688,000
)%78 8, %:) Don’t Miss It! Ideal holding property in a quiet, family oriented Victoria neighbourhood. RT-11 zoned lvl 33x130.4 dplx lot with mountain views and back lane. Back extension to house in 1980 with permits, newer roof (2015). Live in, rent or build! Call for more information.
x Duple t Lo
linda@LFKhomes.com
Open Sunda y 2-4pm
$2,880,000
Let me present to you this brand new luxurious home built by City and Suburban Homes Ltd. Set on a quiet, tree-lined street, this home is built under New By-Laws. You will ďŹ rst come up your lit stairwell and pass by your covered front porch. Come into your grand foyer, which is accented with stylish lighting. Your open-concept oor plan begins here.Your formal living room and family rooms features gas ďŹ replaces set in a modern mantle. Gourmet kitchen comes with Bosch stainless steel appliances, quartz counters, undermount sinks and lighting, a large central island, a 5 burner gas cooktop and a separate spice kitchen. This beauty rests on 44’x110’ lot and comes with 755 square feet laneway home. Did I mention the Air Condition and top notch ďŹ xtures? All of the above comes with: 2 separate basement suites downstairs.
0-2(% *32+ /)22=
$ 1,638,000
)%78 8, %:) Own your home thru rental income! Legal, non-
conforming 2-family home, over 3100 sq.ft., with unauthorized accommodation (3 suites total) all above ground level. Located on a 40.9x110 lot in a quiet neighorhood close to shopping, transportation and schools. Renovated 2011, views from top oor, spacious back and side yards. Must see to appreciate!
Open end Week p 2-4 m
www.LFKhomes.com
- A fabulous custom 2 storey with basement - Total area 3300 sf house with LWH - Total 7 bedrooms, 6 bathrooms - Granite counter top, maple wood cabinets - Radiant floor heating, HRV & security system - Single garage - Buyer to provide own plan & colour choice are welcome
#2600 EAST 49TH AVE., VANCOUVER
GARRY DARRED Royal PaciďŹ c Realty
- Fist time buyer alert! No strata fee - a single family infill in 2 storeys, - 1330 sf living area features 3 bedrooms, 2.5 bathroom, kitchen, living room - Open parking. - Don’t miss!
2 bdrm ground level suite 933 sqft Owner occupied only $349,000
EXCLUSIVE
9,000 SQFT BUILDING LOT Armstrong & Caribou in Burnaby Single Family Ready to build
CITY & MOUNTAIN VIEWS EXCLUSIVE
EAST VANCOUVER APARTMENT BUILDING StratiďŹ ed 16 unit complex $4,700,000 4+ cap rate
604-779-6644
NEW LISTIN G
remax crest realty
MUST BE SOLD BUYERS ONLY EXCLUSIVE
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R E W.ca » VA N COU V E R E ASTS I D E » T H U RS DAY J U N E 9, 2 0 1 6
Tony Alves
Teresa Pang
604.889.7008
NORM FLOCKHART
PREC
604.617.0189
(604) 261-7275
Centre Realty 604.435.9477 www.tonyalves.ca • aalves@sutton.com
13 Year Member of MLS Medallion Club pangt@sutton.com
OPEN SAT/SUN 3-5!
$1,299,000
2049 SEMLIN DRIVE, VANCOUVER • $1,998,000
BEAUTIFULLY MAINTAINED FAMILY HOME! With 2 BR's on Main plus a 3rd BR down, professionally renovated bathrooms up & down, & loads of updates, this is an Excellent Value! In-laid hardwood flrs, leaded glass windows & hi-eff furnace. Steps to transit! 5280 Spencer St., Van.
www.normflockhart.com
IN PRINT AND ONLINE
OPEN HOUSE PM SATURDAY 2-4
NEW LISTING
Your go-to source for the latest Lower Mainland listings, news and advice
What a fantastic location this property is located on. Beautiful Downtown & Mountain views from upper floors. A good project with a lot of potential for someone. This property offers a lot of living space to work with. Could be three good sized suites. This property does need work, but hard to find such a lot and location. Newer roof. Some update in on the electrical. Showing to start on Saturday June 11th, from 2-4pm.
Monet TYLER
Sussex
2015
2015
#10 Royal LePage Realtor in BC 2015 #1 Royal LePage Realtor for Tricities in 2015
monet@monettyler.com
❚
604.763.4307
❚
www.monettyler.com
COMING SOON
SOLD 46-55 Hawthorn Drive
$685,000
SOLD 3414 Devonshire Avenue $1,398,000
4 Aspen Court
$1,578,000
$2,288,000
The Market is HOT HOT!!
SOLD 1241 Ellis Drive, PoCo
2 Kingswood Court
SOLD
$848,000
25-2000 Panorama Drive
SOLD
Call me if you're thinking about selling!!
FOR SALE
$538,000
SOLD
SOLD
R E W.ca » VA N COU V E R E ASTS I D E » T H U RS DAY J U N E 9, 2 0 1 6
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R E W.ca » VA N COU V E R E ASTS I D E » T H U RS DAY J U N E 9, 2 0 1 6
TOO
LAT
E…
FINELY CRAFTED AND INDIVIDUALLY CURATED HOMES
With 4 homes and a coach house, THE COLUMBIA will be an enviable place to live. Included are two 1 bedroom garden suites, two 3 bedroom homes above and one 2 bedroom and den coach house.
SO
LD
OU
1-3 bedrooms + coach house
Ready to move in now! Details include: Caesarstone quartz countertops ❙ shaker style custom cabinetry double hung windows ❙ stainless steel appliances
engineered hardwood floors ❙ extensive use of natural stone contemporary plumbing and lighting fixtures ❙ shingle wood siding
Located at the corner of 16th Ave/Columbia St in the heart of Mt. Pleasant
Visit liveatcolumbia.com to learn more! Quality built by
Call for more details
Ruthie Shugarman 604.879.2941 • Paige Kraft 604.603.3475 DEXTER
ASSSOCIATES REALTY
T!
This is currently not an offering for sale. Any such offering can only be made with a disclosure statement. E.&O.E.
• Move in ready • GST included in purchase price • 2 bdrm, legal suite with private entrance • Modern, fresh and bright contemporary design • Fully fenced and landscaped • Sought after area and quiet street
Brand New Modern Home Design!
$2,348,888 GST included in price
814 MACINTOSH STREET, COQUITLAM Welcome your family home to this ABSOLUTELY STUNNING, 6 bedroom home PLUS ADDITIONAL 2 bedroom basement suite. IMPRESSIVE layout offering SUPERB FUNCTIONALISM on every level. GORGEOUS outdoor living space featuring a COZY fireplace & kitchen allowing for FABULOUS entertaining! Your VAULTED MASTER bedroom offers a MARVELOUS ensuite & BEAUTIFUL balcony. The main floor affords a GREAT guest bedroom with it’s own full bathroom. Your basement creates the PERFECT space for a recroom complete with wet bar as well as a 2nd guest bedroom. Parking is not a problem here as your TRIPLE CAR GARAGE will accommodate all your vehicle needs as well as ADDITIONAL PARKING for your suite. This home will definitely not disappoint!
OPEN HOUSE: SATURDAY, JUNE 11 & SUNDAY, JUNE 12, 1-4PM
ANGELA JORGENSON
604.710.1452 www.angelajorgenson.com Sutton Group 1stWest Realty
R E W.ca » VA N COU V E R E ASTS I D E » T H U RS DAY J U N E 9, 2 0 1 6
“Your East Vancouver Real Estate Experts!” NEW LISTING
$1,149,900
Lisa MacIntosh
Diane Kunic-Grandjean
TROUT LAKE & THE DRIVE – FANTASTIC FRONT ½ DUPLEX - 3 BED & 2.5 BATH! 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!
1656 East 13th Avenue
1925 CRAFTSMAN BEAUTY IN THE HEART OF KITSILANO – 4 BED, 2.5 BATH W/LEGAL SUITE 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.
KITSILANO NORTH OF 4TH – ½ DUPLEX SOUTH EAST CORNER LOT – 3 BED, 2.5 BATH 3203 W.3rd Ave.
$1,898,900
Located on the North of 4th, this very spacious front 1771 square foot ½ duplex sits on the South-East corner, offering 3 generous beds, 2.5 baths on 3 levels & is one not to be missed! Relax in the top floor secluded master bed w/ lounge area & large en-suite bathed by natural sunlight coming from numerous skylights & South facing windows. The 2nd floor has 2 more sizeable bedrooms, and a large en-suite. The main floor houses your kitchen w/ eat-in area, a large foyer w/ powder room and an open concept dining-living room opening onto your South facing ample private patio. Beautiful h/w floor in most rooms, closet/storage galore throughout & 1 car detached garage. Bring your house furniture, they will fit! This is Kitsilano living….
HASTINGS SUNRISE RENOVATED SOUTH FACING 1 BEDROOM IN A GREAT BUILDING! 229-2033 TRIUMPH ST.
$319,900
Beautifully renovated 1 bdrm suite in the heart of Hastings Sunrise. This South facing unit is light & bright with a sundrenched South facing balcony. Updated Ikea kitchen and bathroom, laminate floor throughout. Large in-suite storage. Additional storage locker with secured parking. Very well maintained building – fully re-plumbed in 2012, new roof in 2006, healthy contingency fund & depreciation report. Rentals & pets (one dog or cat) allowed. Fabulous location - just down the street to Parallel 49 microbrewery, Red Wagon Restaurant, Donaldʼs Market, only 10 minutes to downtown & short stroll to The Drive.
HASTINGS SUNRISE UNIQUE 1914 CRAFTSMAN BUNGALOW IN SUPERB CONDITION 2733 FRANKLIN ST.
$1,699,000
What a beauty! Welcome to this 1914 Craftsman Bungalow Heritage "B" lovingly & patiently restored to its current glory! The large foyer gives the tone w/its beautiful wainscoting, 9'4" ceiling height & hwd flooring. Cozy up by the fireplace in your comfortable lvg rm drenched by natural light, host your loved ones in the adjacent large dng room while marvelling at the Tudor ceiling & superb built-in dresser. The 3 sizeable bed & charming 1,5 bath w/claw foot tub will house your family for a very long time. Airy modern kitchen & eat-in area from which to access a lush fenced backyard & detached garage. The bsmt offers 2 bed suite & a large separate area which could be a rec/family room for you. A unique gem in beloved Hastings Sunrise!
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
DEXTER ASSOCIATES REALTY
www.dexterrealty.com
SKIPSHOMES.COM CATHIECLINE.COM
604-689-8226 Yaletown 604-336-3539 Main Street 604-263-1144 Kerrisdale 2825 E. 43RD AVE. $2,380,000
OPEN SUN 2-4PM Prime Killarney Area. RS-1 Lot. MLS R2048113 Mateen Qureshi 604-488-9874
NEW LISTING
Taking our Listings Global
★
$539,000
PH15 – 688 E. 17th AVE BRIGHT & MODERN Penthouse suite at the “Mondella”. 180 degree views from 109 sq. ft. patio. 5 minutes to downtown Kevin Banno 604-300-3165
104 – 228 E14th Ave
$599,000
★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
604-263-1144 110-2390 McGill St
$320,000
OPEN SAT/SUN 2 – 4PM Large 1 Bed & Den! Come find this 780 sq ft 1 Bed and Den with large rooms, ground floor corner apartment with wood burning fireplace. So close to downtown, next to McGill Park and affordable! 1 parking stall and storage locker.
2652 FRANKLIN ST.
$1,398,000
HASTINGS SUNRISE HOME This 1927 character home is ready for you! Inside, find upgraded plumbing and wiring, new 200AMP service to the house with 100AMP service to the garage, a renovated bathroom with cast iron claw foot tub and tile surround. Downstairs is ready to be finished into a suite or living space for you to enjoy. A large garage out back with upgraded electrical service could be a shop, parking/ storage & studio. And the South facing back yard is a gardenerʼs delight with apple, peach, Green Gage plum and Yuzu citrus trees. 2652 FRANKLIN ST.
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NOW OPEN
Higher Living. Higher Learning. Nestled on the hillside at Simon Fraser University, Veritas by Polygon is a limited collection of one plus den and two bedroom apartment residences in the unique campus community of UniverCity. Enjoy mountainside living in an environment of academia and nature, with move-ins this year! Two bedrooms priced from $389,900
8999 Cornerstone Mews, Burnaby Open Noon to 6pm Daily (except Friday) 604.298.9965 veritas@polyhomes.com
R E W.ca » VA N COU V E R E ASTS I D E » T H U RS DAY J U N E 9, 2 0 1 6
%08/4*;&34 t 3&$3&"5*0/"- #6:&34
escape the everyday
SAVE $10,000 COTtAGES FROM $214,900 OPEN HOUSE 11 – 4 DAILY DiscoverBridalFalls.com
NOW SELlING!
FROM LOUNGING BY THE POoL TO ENJOYING A ROUND OF GOLF OR FISHING AND HIKING IN BRIDAL FALlS, THIS IS HOW LIFE IS MEANT TO BE LIVED 53480 BRIDAL FALLS ROAD, BRIDAL FALLS 604.745.4104
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% 60 LD SO T OU
VANCOUVER LUXURY. ABBOTSFORD PRICES. FROM THE HIGH $200’S GENEROUSLY SIZED 674 SF TO 1,680 SF*
Presentation Centre is now open daily (except Fridays) from 12 – 5 pm at 2180 Gladwin Road, Abbotsford.
LIVINGMAHOGANY.COM
778.255.9990
MAHOGANY, A SPECTACULAR NEW COLLECTION OF LUXURY HOMES. WITH 26 STOREYS OF CONCRETE CONSTRUCTION, INCREDIBLE VIEWS AND GENEROUS AMENITIES OVERLOOKING BEAUTIFUL MILL LAKE. Marketed by GLOBEWEST - Multiple Realty Ltd. and Quantum Realty Inc. Managed by the Quantum Properties Group of Companies. %&0 &0 +,1 + ,ƛ"/&+$ #,/ 0 )"ǽ +6 02 % ,ƛ"/&+$ * 6 ,+)6 " * !" 6 !&0 ),02/" 01 1"*"+1ǽ %" !"3"),-"/ /"0"/3"0 1%" /&$%1 1, *,!&#6 -) +0Ǿ -/& "0Ǿ #" 12/"0 +! 0-" &Ɯ 1&,+0 4&1%,21 +,1& " 0 * 6 " +" "00 /6 +! 1 1%"&/ 0,)" !&0 /"1&,+ǽ ǽ ǔ ǽ ǽ ȥ ) ,+6 0- " &0 &+ )2!"! &+ 0-" &Ɯ"! 0.2 /" #,,1 $"0ǽ
R E W.ca » VA N COU V E R E ASTS I D E » T H U RS DAY J U N E 9, 2 0 1 6
Jim’s testing the waters He does the work. You get the benefits. As FortisBC’s innovative technologies manager, Jim tests new energy-saving technologies that one day may help our customers. The success of his water heater pilot led to our ENERGY STAR® Water Heater Program. So you can upgrade your water heater and get a rebate — plus save energy costs for years to come. That’s energy at work. fortisbc.com/watersavings
FortisBC uses the FortisBC name and logo under license from Fortis Inc. (16-121.6 04/2016)
UP $ TO
1,000 REBATE
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VANCOUVER EASTSIDE
THURSDAY, JUNE 9, 2016
Looking for a new home? Start here.
R E A L
E S T A T E
W E E K L Y
“Fear of Missing Out” Partly Driving Vancouver’s Hot New Home Market: UDI Report
T
he “fear of missing out” is one of the key factors driving buyers to snap up all available listings, resulting in the “frenzied” real estate market so far this year, according to a quarterly report by Urban Analytics on behalf of the Urban Development Institute. UDI’s Q1 2016 State of the Market report, released this week, said, “While the current local economic factors seem reasonably strong, anecdotal analysis would suggest that the robust sales activity in the real estate sector of late can also be attributed to a ‘fear of missing out’ sentiment among prospective buyers in the marketplace.” The report, which examines new home sales and housing starts in Metro
Vancouver, observed that the local new home market set new records in 2016’s first quarter. “A combined total of 6,231 newly built multi-family home sales were recorded in Q1 2016, up 18 per cent from the previous six-year record set last quarter. Frenzied home sales activity across the region has resulted in new lows for released new home inventory. At the end of the quarter, there were only 3,010 new multi-family homes available to purchase, down 64 per cent from the released 8,260 units recorded in Q1 2015.” It added, “The townhome sector continues impress, with a record 1,268 sales reported in Q1 2016. Based on the 227 released and unsold new town-
home units reported at the end of the quarter, there is an estimated two weeks’ supply of this product type in the market. Strong townhome sales can be attributed to a growing number of prospective purchasers seeking a family-oriented housing form and can no longer afford a single family home in the neighbourhood of their choice.” The authors pointed to an overall increase in Metro Vancouver’s net population in 2016’s first quarter, up 7,200 people – although it noted that this is a slower rate of growth than the same period in 2015. It said this overall increase was attributable to a rise in interprovincial migrants, since international migration was negative in the quarter.
The report added that housing starts in the quarter were up 13 per cent year over year, resulting in the current ratio of 1.9 new Metro Vancouver residents per housing start, down from the 2.3 recorded in Q4 2015. “While this ratio is still considered to be healthy, it matches the previous four-year low and should be monitored closely to see if a potential trend is establishing,” reported the authors. To read the full report, which includes detailed breakdowns of the Metro Vancouver housing market by property type and sector, go to udi. bc.ca/policy/publications
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