THURSDAY, OCTOBER 6, 2016
VANCOUVER EASTSIDE
info@rew.ca • 604-435-7977
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R E A L E S TAT E W E E K LY
Dodging Vancouver’s Vacant Home Tax Could Result in $10K Fines: City Staff F
resh details of Vancouver’s proposed vacant home tax came to light September 20, as staff presented their report to City Council and requested approval for their public consultation budget. The proposal report, which is available on the City’s website at www.vancouver.ca, confirmed that the “Empty Homes Tax” will operate using a self-reporting process – just like income tax – and will be audited by the City on a random basis and in response to complaints made to the City by neighbours and other residents. Staff told council that the penalties for those found to be avoiding the tax should be stiff – as much as $10,000, which is the maximum fine the city can issue. Staff are also asking council to approve the $220,000 budget needed for the public consultation process on the tax, to be held this fall – some $210,000 of which
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will pay for letters to the public informing them of the consultation process, with $7,500 paying for openhouse discussions and workshops, and $2,500 for the final report to be presented to council. The proposal report outlines scenarios in which home owners would be exempt from the tax, such as those using it as a primary residence, those who have tenants or family members living in the property full time, those who live in the property for part of each week on a commuting basis, and where homes are awaiting demolition or renovation, with permits. However, the public consultation will be used to determine whether certain grey-area scenarios should be exempt from the tax or not – such as where the home is used for just a few months of the year by the owner, whose primary residence is elsewhere. The process will also help staff determine the amount of the tax that will be levied, which the report says could be as low as 0.5 per cent or as high as two per cent of the assessed value of the home, payable on an annual basis.
AirBnB and Other Short-Term Rentals to Require Business Licence: City
On an empty home worth $1 million, that would come to between $5,000 and $20,000 a year in additional taxes, on top of regular property tax. Arnon Dachner, partner at Dentons LLP, was jokingly asked at an Urban Development Institute luncheon September 16 whether he would complain to the City if he thought a neighbouring home was left vacant. He said, “I’m not really a snitcher – as long as they don’t park in front of my house while leaving their house vacant, I don’t mind! I don’t really hold with the ‘snitching on your neighbours’ process. But a lot of our taxation systems, like income tax, are based on self-reporting. And yes, there will be audits. But I don’t relish the idea of people knocking on each other’s doors to try to ascertain whether the home is vacant.” He added, “I think it will make for a great new business – the guy who mows the lawn, who drops off the fake grocery bags, who takes out fake garbage bags…” The City of Vancouver has started its public consultation process on the new empty homes tax with a 10minute online survey. To contribute to the outcome, sign up at www.talkvancouver.com.
Bank of Canada Likely to Freeze Rates until 2019: TD Bank Forecast
Editorial: Deflating the Hot-Air Bubble on Real Estate Market Hype
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R E W.ca » VA N COU V E R E ASTS I D E » T H U RS DAY O CTO B E R 6, 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
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1862 VENABLES STREET
3536 WEST 1ST AVE
506 EAST 43RD AVE
• Cash Machine, 4 Lvl Multifamily Bldg, 5+ Units & Garage • Gr Inc $70,200/yr w Upside, Creative Financing Possible • 2 Blks to The Drive, Shops, Restaurants, 33’X122’ RT5 Lot • Investors, Owner-Occupiers, Renovators Asking $1,650,000
• Kitsilano, Big 3700 SF Character Multiplex, 33’X122’ RT-8 • 1st Class Loc, Mtn Views, 1 Block to Beach, Double Garage • Gr Inc $128,145/yr, Great Tenants & Suite Mix, 6+ Units • Investors, Owner-Occupiers, Developers Asking $3,339,000
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225 WEST 15TH AVE
628 EAST 12TH AVE
635 EAST 44TH AVE
• Edwardian Character Mulitfamily Bldg, 4361 SF, 5 Units • Suite Mix: 1X1 Bdrm, 2X1 Bdrm &Den, 2X2 Bdrm • Big 50’X125’ RT-6 Lot, Gr Inc $91,000, Excellent Condition • Investors, Owner-Occupiers ,Developers Asking $2,988,000
• Big 4 Level, Great Character Legal Triplex, 2728 SF • Suite Mix: 2 lvl 3 Bdrm, 2X1 Bdrm, 33’X122’ RT-5 Lot • Gr Inc $48,000yr, Fenced Yard, High Ceilings, Views • Investors, Owner-Occupiers, Developers Asking $1,398,000
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604-689-8226 Yaletown 604-336-3539 Main Street 604-263-1144 Kerrisdale 1806-111 E. 1ST AVE.
$2,188,000
★
OPEN SAT 2-4PM THE TRUE MEANING OF LUXURY!
Brand new 3 bed Penthouse in the heart of Vancouver with exquisite views of downtown and the North Shore mountains. Private rooftop patio perfect for entertaining. Top of the line finishings. Extremely rare opportunity. Donʼt miss this gem of a home! 1806-111 E.1ST AVE. Lisa Findlay 778-378-8090
632 E. 20TH AVE.
$1,288,000
3332 PARKER ST.
Taking our Listings Global 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 403-1188 QUEBEC ST.
$1,248,000
$1,249,000
THIS IS IT! Move-in ready. Completely renovated home with 2 bdrm suite. All the expensive items done: windows, roof, furnace, plumbing, electrical. Main floor has oak hardwood floors & a gas stove. Suite: 8’ ceilings and a private entrance.
COMING SOON! INVESTOR & BUILDER ALERT! Oversized lot, 33’ x 155’! Original home owner, well maintained 3 bedroom 1 ½ bath up, 2 bedroom suite down. Highly desired South facing back yard with views to Richmond.
RARE 3 BDRM & DEN MAIN/FRASER CHARMER Trendy Main/Fraser neighbourhood. Updates include plumbing, electrical, roof, kitchen and bathroom. Notable features: heritage style claw foot tub, shower and vanity and stainless steel appliances, gas stove, quartz counters, tile backsplash and newer kitchen cabinets. Enclosed South facing backyard, close proximity to shopping, schools and transit. Did I mention charm and character which aptly describe this home. Evelyn Singer 604-314-4123
Fantastic City Gate 1 built by Bosa. This is a rarely available 3 bedroom & den West facing unit with views of Science World, city skyline and the False Creek sunset. 1743 feet of living space with a large open plan kitchen, dining and main living room area. The bedrooms are a generous size and there is a huge 13 x 8 en-suite laundry storage area. There is a rooftop patio, gym, indoor pool and recreation facility. 2 parking spots and 1 locker and bike parking area. Amazing location close to skytrain, Olympic Village, restaurants and walks on the seawall. Currently tenanted. Please allow 24-48 hours for showings. Tom Jones 604-722-1316
SU-MARIE BAIRD 604-263-1144 DEXTER ASSOCIATES REALTY
R E W.ca » VA N COU V E R E ASTS I D E » T H U RS DAY O CTO B E R 6, 2 0 1 6
“Your East Vancouver Real Estate Experts!” NEW LISTING
$2,999,900
Lisa MacIntosh
Diane Kunic-Grandjean
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!
1925 CRAFTSMAN BEAUTY IN THE HEART OF KITSILANO – 4 BED, 2.5 BATH W/LEGAL SUITE 3444 W. 5TH AVE.
$2,950,000
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 culde-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.
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
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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
202 – 161 E1st Ave
$478,000
304-4815 ELDORADO MEWS $499,000
Convenient, Compact & Lifestyle
2 BED WITH A VIEW
Block 100 by Onni. Brand new community in False Creek. Great for investors and 1st time buyers. Parking and locker!
Open layout 2 bed / 1 bath with mountain view in Collingwood. Only 3 years young. Great for investors and first time buyers. Pet & rental friendly.
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R E W.ca » VA N COU V E R E ASTS I D E » T H U RS DAY O CTO B E R 6, 2 0 1 6
Welcome Home
Only available until December 31**
*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 December 31, 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.
Learn from the Real professionals
Start now. Our comprehensive 5 week & 10 week courses will teach you how. • Daytime & Evenings. • Tuition only $649 • First class FREE - try us out!
Tony Alves 604.889.7008
www.tonyalves.ca • aalves@sutton.com
Teresa Pang 604.617.0189 pangt@sutton.com
Centre Realty 604.435.9477
2084 EAST 54TH AVENUE • $1,098,000
Unbelievable Price for Fraserview Area This 2 bedroom bungalow plus a finished basement sits on the great location of Victoria Drive and 54th area. Loads of potential, renovate and build a laneway home or build a 2,263 sq.ft. home plus a 517 sq.ft. laneway on this easy to build on lot. Basement could be a nice suite with a little TLC.
OPEN HOUSE PM SAT & SUN 2-4
R E W.ca » VA N COU V E R E ASTS I D E » T H U RS DAY O CTO B E R 6, 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 O CTO B E R 6, 2 0 1 6
2B ED ./2 BA TH .F RO M
$3
64
,9
00
Artist’s Rendering - Mahogany Plan B-2
VANCOUVER LUXURY. ABBOTSFORD PRICES. MAHOGANY, A SPECTACULAR NEW COLLECTION OF LUXURY HOMES. WITH 26 STOREYS OF CONCRETE CONSTRUCTION, GENEROUS AMENITIES AND INCREDIBLE VIEWS OVERLOOKING BEAUTIFUL MILL LAKE, MAHOGANY IS TRULY THE NEW HEIGHT OF LIVING. TO LIVE HERE IS TO LIVE WELL. Presentation Centre is open daily (except Fridays) from 12 - 5 pm 2180 Gladwin Road, Abbotsford
LIVINGMAHOGANY.COM 778.255.9990 Artist’s Rendering - Mahogany at Mill Lake
Marketed by Quantum Realty Inc. Managed by the Quantum Properties Group of Companies. This is not an offering for sale. Any such offering may only be made by disclosure statement. The developer reserves the right to modify plans, prices, features and specifications without notice as may be necessary and at their sole discretion. E. & O. E.
R E W.ca » VA N COU V E R E ASTS I D E » T H U RS DAY O CTO B E R 6, 2 0 1 6
Intelligent living BY ZENTERRA DEVELOPMENTS
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
Phase 2 NOW SELlING Select from over 40 new lots and purchase now for Spring 2017 cottage delivery. COTTAGE SHOW HOMES OPEN DAILY 11 - 4 53480 BRIDAL FALLS RD, BRIDAL FALLS, BC 604.745.4104
DiscoverBridalFalls.com
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VANCOUVER EASTSIDE
THURSDAY, OCTOBER 6, 2016
Looking for a new home? Start here.
R E A L
E S T A T E
W E E K L Y
SEASONS IS A BOUTIQUE-STYLE OFFERING OF CONDOMINIUMS AND TOWNHOMES Collection of 101 contemporary residences is unique to Burnaby’s thriving Brentwood Town Centre
M
uch has been written about why Burnaby’s Brentwood Town Centre neighbourhood is a good location to live, work and play in. Brentwood is emerging as a sought-after enclave with great outdoor cafes and shopping, parks and trails, recreational amenities, and a historic business district, all within walking distance. Well-respected builder Ledingham McAllister understands the community’s appeal – it has chosen Brentwood for several of its most recent residential projects including Escala, released earlier this year, as well as its sold out high-rise Aviara. Now, the award-winning developer introduces its newest collection – Seasons. Seasons is a collection of 101 West Coast
contemporary one-bedroom and den, two-bedroom and two-bedroom and den condominiums and townhomes, ranging from 641 to 1,053 square feet. Each open-concept home has been designed to maximize the natural light and flow of living while combining style, form, and function. “It’s the only boutique-style residence currently on offer in the Brentwood town centre,” says Manuela Mirecki, senior vice president, marketing and design Ledingham McAllister. “Just 100 homes tucked into an incredibly landscaped enclave.” Inside, these thoughtfully designed home will feature sleek laminate wood flooring throughout the living space, long-lasting nylon carpeting throughout all bedrooms, and conveniently located cable and data outlets throughout most homes. The kitchens will be outfitted with a premium stainless-steel appliance package, Quartz countertops with contemporary tile backsplash, Kohler fixtures and timeless finishes. It doesn’t stop there. Cooks and those who love to entertain will appreciate
the 30-inch refrigerator and freezer with temperature-controlled drawers, metal wine rack and icemaker. For optimum comfort, each home presents energy-efficient, Solarban 60 UV-protected, double-glazed windows and sliding-glass or swing balcony doors with vinyl window/ door system. To encourage a sense of community, owners will share a landscaped common outdoor terrace with children’s play area, community garden, and a 1,000 square feet amenity room. Nearby home owners, who purchased in Ledingham McAllister’s Aviara and Escala communities, say they were attracted to the fact that Brentwood is one of the best connected neighbourhoods in terms of transit, SkyTrain, bike networks and highways. Seasons owners will also be close to the urban hub, and just minutes away from several good schools such as Simon Fraser University and BCIT. “In addition, the new Brentwood Shopping Centre is going to be a destination retail
spot and is only a couple of blocks away,” she adds. For the environmentally-conscious consumers, Seasons features two eco-friendly initiatives, a commuter bike package and a transit pass subsidy. With more than 110 years of building landmark developments and 5,000 homes in Burnaby alone, you can rest assured you are buying from a builder renowned for outstanding quality, integrity and solid performance. Meanwhile, Mirecki says interest in Seasons has been very strong. “We expect a quick sell-out. People really need to register in advance to be sure to get an opportunity to purchase,” she adds. The Seasons Presentation Centre, located at 1710 Gilmore Avenue, Burnaby, opens for previews on Saturday, October 15 and the public opening follows on Saturday, October 22. For more information or to register, call 604-568-6888 or visit www.ledmac.com/seasons
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